Report New Comparetive Nirmal With Margin

8/8/2019 Report New Comparetive Nirmal With Margin

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EXECUTIVE SUMMARY

The project titled comparative study of services provided by Religare securities

ltd and other broking houses in Noida has been carried out for Religare

securities limited.

There is growing competition between brokerage firms in post reform India. For

investor it is always difficult to decide which brokerage firm to choose.

Research was carried out to find which brokerage house people prefer and to figure

out what people prefer while investing in stock market.

Main purpose of investment is returns and liquidity, commodity market is less

preferred by investors due to lack of awareness. The major findings of this study are

that people are interested to invest in stock market but they lack knowledge.

Through this report we were also able to understand, what are our Companys

(Religare securities Ltd.) positive and strong points, on the basis of which we come

to know what can be the basis of pitching to a potential client. We also gave

suggestions to the company, what improvement can be done to our product.

I hope Religare securities Ltd. will recognize this as well as take more references

from this project report.


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Chapter

1

INTRODUCTION


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1. INTRODUCTION

1.1 About the company:-

Religare is a diversified financial services group of India offering a multitude of

investment options.

The diverse bouquet of financial services which Religare offers can be broadly

clubbed across three key verticals - Retail, Institutional and Wealth spectrums. The

services extend from asset management, Life Insurance, wealth management to

equity broking, commodity broking, investment banking, lending services, private

equity and venture capital. Religare has also ventured into the alternative investments

sphere through its holistic arts initiative and Film fund. With a view to expand,

diversify and introduce offerings benchmarked against global best practices, Religare

operates in the life insurance space under 'Aegon Religare Life Insurance Company

Limited' and wealth management under the brand name 'Religare Macquarie Private

Wealth'

NAME

Religare is a Latin word that translates as 'to bind together'. This name has

been chosen to reflect the integrated nature of the financial services the company

offers.

SYMBOL

The Religare name is paired with the symbol of a four-leaf clover.

Traditionally, it is considered good fortune to find a four-leaf clover as there is only


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one four-leaf clover for every 10,000 three-leaf clovers found. For us, each leaf of

the clover has a special meaning. It is a symbol of Hope. Trust. Care. Good Fortune.

For the world, it is the symbol of Religare.

The first leaf of the clover represents Hope. The aspirations to succeed. The

dream of becoming. Of new possibilities. It is the beginning of every step

and the foundation on which a person reaches for the stars.

The second leaf of the clover represents Trust. The ability to place ones own

faith in another. To have a relationship as partners in a team. To accomplish

a given goal with the balance that brings satisfaction to all, not in the

binding, but in the bond that is built.

The third leaf of the clover represents Care. The secret ingredient that is the

cement in every relationship. The truth of feeling that underlines sincerity

and the triumph of diligence in every aspect. From it springs true warmth of

service and the ability to adapt to evolving environments with consideration

to all.

The fourth and final leaf of the clover represents Good Fortune. Signifying

that rare ability to meld opportunity and planning with circumstance to

generate those often looked for remunerative moments of success.

Hope. Trust. Care. Good Fortune. All elements perfectly combine in the

emblematic and rare, four-leaf clover to visually symbolize the values that

bind together and form the core of the Religare vision.


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Accent usage

The diacritical tilde mark ( ) over the letter A in the Religare typeface indicates a

palatal emphasis sound of the letter A.

1.2 Vision and mission

Vision - To build Religare as a globally trusted brand in the financial services

domain and present it as the Investment Gateway of India'.

Mission - Providing complete financial care driven by the core values of diligence

and transparency

1.3 Group structure:


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1.4 Religare management team:-

Central Leadership Team

Mr. Sunil GodhwaniCEO & Managing Director, Religare Enterprises Limited

Mr. Shachindra NathGroup Chief Operating Officer, Religare Enterprises Limited

Mr. Anil SaxenaGroup Chief Finance Officer, Religare Enterprises Limited

Board of Directors - Religare Enterprises Limited

Mr. Malvinder Mohan SinghNon Executive Chairman

Mr. Sunil GodhwaniManaging Director & Group CEO

Mr. Shivinder Mohan SinghNon Executive Director

Mr. Harpal SinghNon Executive Director

Mr. Deepak Ramchand SabnaniIndependent Director

Mr. Padam BahlIndependent Director

Mr. J. W. BalaniIndependent Director

Ms. Sunita NaidooIndependent Director

Mr. R. K. ShettyAlternate to Mr. J. W. Balani

Capt. G. P. S. BhallaAlternate to Mr. Deepak Sabnani
http://www.religare.in/management.asphttp://www.religare.in/management.asphttp://www.religare.in/management.asphttp://www.religare.in/management.asphttp://www.religare.in/management.asphttp://www.religare.in/management.asp#malvinderhttp://www.religare.in/management.asp#malvinderhttp://www.religare.in/management.asp#sunilhttp://www.religare.in/management.asp#sunilhttp://www.religare.in/management.asp#shivinderhttp://www.religare.in/management.asp#shivinderhttp://www.religare.in/management.asp#harpalhttp://www.religare.in/management.asp#harpalhttp://www.religare.in/management.asp#malvinderhttp://www.religare.in/management.asp#malvinderhttp://www.religare.in/management.asp#malvinderhttp://www.religare.in/management.asp#malvinderhttp://www.religare.in/management.asp#malvinderhttp://www.religare.in/management.asp#malvinderhttp://www.religare.in/management.asp#malvinderhttp://www.religare.in/management.asp#malvinderhttp://www.religare.in/management.asp#malvinderhttp://www.religare.in/management.asp#malvinderhttp://www.religare.in/management.asp#malvinderhttp://www.religare.in/management.asp#malvinderhttp://www.religare.in/management.asp#malvinderhttp://www.religare.in/management.asp#malvinderhttp://www.religare.in/management.asp#malvinderhttp://www.religare.in/management.asp#malvinderhttp://www.religare.in/management.asp#malvinderhttp://www.religare.in/management.asp#harpalhttp://www.religare.in/management.asp#shivinderhttp://www.religare.in/management.asp#sunilhttp://www.religare.in/management.asp#malvinderhttp://www.religare.in/management.asphttp://www.religare.in/management.asphttp://www.religare.in/management.asp


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1.5 ORGANIZATIONAL STRUCTURE

Fig1.1


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1.6 BENEFITS OF RELIGARE

We serve you with a diligent, transparent & process driven approach and ensure that

your money gets the care it deserves.

No experts, only expertise. PMS brought to you by Religare with its solid

reputation of an ethical and scientific approach to financial management. While we

offer you the services of a dedicated Relationship Manager who is at your service

24x7, we do not depend on individual expertise alone. For you, this means lower

risk, higher dependability and unhindered continuity. Moreover, you are not limited

by a particular individuals investment style.

No hidden profits. We ensure that a part of the broking at Religare Portfolio

Management Services is through external broking houses. This means that your

portfolio is not churned needlessly. Using more broking firms gives us access to a

larger number of reports and analysis, enabling us to make better, more informed

decisions. Furthermore, your portfolio is customized to suit your investment

objectives.

Daily disclosures. Religare Portfolio Management Services gives you daily updates

on your investment. You can pinpoint where your money is being invested, 24x7,

instead of waiting till the end of the month to keep track.

No charge till you profit*.So sure are we of our approach to Portfolio Management

that we do not charge you for our services, until your investments start showing

profit. With customized investment options Religare Portfolio Management Services

invites you to invest across five broad portfolios to suit your investment needs.

* Except fixed administrative charges.


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1.7 Significance of Study

In most industrialized countries, a substantial part of financial wealth is not

managed directly by savers, but through a financial intermediary, which implies the

existence of an agency contract between the investor (the principal) and a broker or

portfolio manager (the agent). Therefore, delegated brokerage management is

arguably one of the most important agency relationships intervening in the economy,

with a possible impact on financial market and economic developments at a macro

level.

1.8 Objectives of the Study

The project includes a detail study of portfolio management in share

market.

The following are the main objective of the project

1. Study of services provided Religare securities ltd.2. Study of services provided by other broking house in Noida.3. Comparison of services provided by Religare and other broking houses in

noida.

4. Concluding and recommending procedures to improve upon the tradingoptions.

1.9 Scope of Study

The work was carried out in the broking offices in Noida region thoseprovides similar services as Religare.

The work includes the various services provided by Religare and otherbroking houses such as


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(a)E-broking

(b)Investment advisory services

(c)Depository participant services

(d)PMS (portfolio management services)

(e)Fundamental services

Major Players in the Region which I include in my study Religare Securities ICICI Direct India Infoline Security Pvt. Ltd. HDFC Securities India bulls Kotak Securities Reliance Money Share khan Securities SMC securities ltd. Anand Rathi Securities Angel Broking


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Chapter 2

THEORETICAL

FRAMEWORK AND

REVIEW OF LITERATURE


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Basics of Indian Stock Market

2.1 Indian Stock Market

Share or stock is a document issued by a company, which entitles its holder to be

one of the owners of the company. A share is issued by a company or can be

purchased from the stock market.

Share market where dealing of securities is done is known as share market. There

are two ways in which investors gets share from market:

Primary market: markets in which new securities are issued are known as primary

market. This is part of the financial market where enterprises issue their new shares

and bonds. It is characterized by being the only moment when the enterprise received

money in exchange for selling its financial assets.

Secondary Market: Market in which existing securities are dealt is known as

secondary market. The market where securities are traded after, they are initially

offered in the primary market. Most trading is done in the secondary market.

The Stock Market is an invisible market that trades in stocks of various companies

belonging to both the public and private sectors. The Indian Stock Market is often

referred to as the Share Market since it deals primarily with shares of various

companies.

A Stock Exchange is a place where the stocks are listed and traded. Such exchanges

may be a corporation or mutual organization which specializes in the business of

introducing the sellers with the buyers of stocks and securities.


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The Indian Stock Market in India comprises of two main stock exchanges:

Bombay Stock Exchange (BSE) National Stock Exchange (NSE)

BSE

The Bombay Stock Exchange (BSE) was established in 1875.The BSE India Stock

Exchange serves as the most important for companies to raise money. The chief

function of the Stock Market of India is to help raise money as capital for the growth

and expansion of various private and public sector enterprises. Besides, the Stock

Market of India provides able assistance to the individual investors through daily

updates on current position of the stocks of the respective companies that are enlisted

in the Stock Index in which the movement of prices in a section of the market are

captured in price indices. The popular acronym for Stock Index is Sensitive index or

sensex. Moreover, the liquidity provided by the exchange enables the investors to

sell securities owned by them easily and quickly. Hence a person, who is subjected to

sudden dearth of funds, can immediately sell his shares for cash in India Stock

Market.

The BSE Sensex, also known as BSE 30 is a widely used market index not only in

India but across Asia. In terms of volume of transactions, it is ranked among the top

five stock exchanges in the world.

NSE

The National Stock Exchange of India Ltd. (NSE), set up in the year 1993, is today

the largest stock exchange in India and a preferred exchange for trading in equity,


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debt and derivatives instruments by investors. NSE has set up a sophisticated

electronic trading, clearing and settlement platform and its infrastructure serves as a

role model for the securities industry. The standards set by NSE in terms of market

practices; products and technology have become industry benchmarks and are being

replicated by many other market participants.

NSE provides a screen-based automated trading system with a high degree of

transparency and equal access to investors irrespective of geographical location. The

high level of information dissemination through the on-line system has helped in

integrating retail investors across the nation.

The exchange has a network in more than 350 cities and its trading members are

connected to the central servers of the exchange in Mumbai through a sophisticated

telecommunication network comprising of over 2500 VSATs.

NSE has around 850 trading members and provides trading in equity shares and debt

securities. Besides this, NSE provides trading in various derivative products such as

index futures, index options, stock futures, stock options and interest rate futures.

In addition to these organizations there are other organizations highlighting on the

share trading in the Indian Stock Market are:

Securities and Exchange Board of India (SEBI) NSDL CDSL

The Nifty and the Sensex are the indicators which are the parameters denoting the

prices of the stocks of the major companies of the NSE and the BSE respectively.


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Stock Broking Sector in India

The Indian broking industry is one of the oldest trading industries that has been

around even before the establishment of the BSE in 1875. Despite passing through a

number of changes in the post liberalization period, the industry has found its way

towards sustainable growth. In this section our purpose will be of gaining a deeper

understanding about the role of the Indian stock broking industry in the countrys

economy.

Which are the securities one can invest in?

Shares Government Securities Derivative products Commodity Mutual Funds etc.

2.2 INVESTMENT BASICS

What are various options available for investment?

One may invest in:

Physical assets like real estate, gold/jewellery, commodities etc.

Financial assets such as fixed deposits with banks, small saving instruments

with post offices, insurance/provident/pension fund etc. or securities market

related instruments like shares, bonds, debentures etc.


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What are various Short-term financial options available for

investment?

Broadly speaking, savings bank account, money market/liquid funds and fixed

deposits with banks may be considered as short-term financial investment options:

Savings Bank Account

It is often the first banking product people use, which offers low

interest (4%-5% p.a.), making them only marginally better than fixed

deposits.

Money Market or Liquid Funds

These are a specialized form of mutual funds that invest in extremely

short-term fixed income instruments and thereby provide easy liquidity.

Unlike most mutual funds, money market funds are primarily oriented

towards protecting your capital and then, aim to maximize returns

Fixed Deposits with Banks

These are also referred to as term deposits and minimum investment

period for bank FDs is 30 days. Fixed Deposits with banks are for investors

with low risk appetite, and may be considered for 6-12 months investment

period as normally

What are various Long-term financial options available for

investment?


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Post Office Savings Schemes, Public Provident Fund, Company Fixed Deposits,

Bonds and Debentures, Mutual Funds etc.

Post Office Savings:

Post Office Monthly Income Scheme is a low risk saving instrument,

which can be availed through any post office.

Public Provident Fund:

A PPF account can be opened through a nationalized bank at anytime

during the year and is open all through the year for depositing money. Tax

benefits can be availed for the amount invested and interest accrued is tax-

free.

Company Fixed Deposits:

These are short-term (six months) to medium-term (three to five

years) borrowings by companies at a fixed rate of interest which is payable

monthly, quarterly, semi10 annually or annually. They can also be cumulative

fixed deposits where the entire principal along with the interest is paid at the

end of the loan period.

Bonds:

It is a fixed income (debt) instrument issued for a period of more than

one year with the purpose of raising capital. The central or state government,

corporations and similar institutions sell bonds. A bond is generally a promise

to repay the principal along with a fixed rate of interest on a specified date,

called the Maturity Date.


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Mutual Funds:

These are funds operated by an investment company which raises

money from the public and invests in a group of assets (shares, debentures

etc.), in accordance with a stated set of objectives. It is a substitute for those

who are unable to invest directly in equities or debt because of resource, time

or knowledge constraints

2.3 Introduction to Demat account

Definition

Demat account is a safe and convenient means of holding securities just like a bank

account is for funds. Today, practically 99.9% settlement (of shares) takes place on

demat mode only. Thus, it is advisable to have a Beneficiary Owner (BO) account to

trade at the exchanges.

Bank Account Vs Demat Account

S.

No.

Basis Of

Differentiation

Bank Account Demat Account

1.

Form of

Holdings/Deposits

Funds Securities

2. Used for Safekeeping of money Safekeeping of shares

3. Facilitates

Transfer of money

(without actually

Transfer of shares

(without actually


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handling money) handling shares)

4. Where to open A bank of choice

A DP of choice (can be

a bank)

5.

Requirement of

PAN Number

Not Mandatory

Mandatory (effective

from April 01, 2006)

6.

Interest accrual on

holdings

Interest income is

subject to the applicable

rate of interest

No interest accruals on

securities held in demat

account

7.

Minimum balance

requirement

AQB* maintainance is

specified for certain

bank accounts

No such requirement

*AQB - Average Quarterly Balance

Table 2.1

S.

No.

BASIS OF

SIMILARITY

PARTICULARS

1.Security and

Convenience

Both are very safe and convenient means of

holding deposits/securities

2. Number of accounts

No legal barrier on the number of bank or

demat accounts that can be opened

3. Transfer of deposits Funds/securities are transferred only at the


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(funds or securities) instruction of the account holder

4.

Physical transfer of

money/securities

Physical transfer of money/securities is not

involved

5. Nomination Facility Available

Table 2.2

2.4 How to invest in stock market?

Opening a Demat Account

To start dealing in securities in electronic form, one needs to open a demat account

with a DP of his choice. An investor already having shares in physical form should

ensure that he gets the account opened in the same set of names as appearing on the

share certificate; otherwise a new account can be opened in any desired pattern by

the investor.

Getting started

1. Choose a DP

2. Fill up an account opening formprovided by DP, and sign an

Documents to be attached

Passport size photographs

Proof of residence (POR) - Anyone of Photo Ration Card with


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agreement with DP in a

standard format prescribed by

the depository.

3. DP provides the investor with acopy of the agreement and

schedule of charges for his

future reference.

4. DP opens the account andprovides the investor with a

unique account number, also

known as Beneficiary Owner

Identification Number (BO ID).

DOB / Photo Driving License

with DOB / Passport copy /

Electricity bill / Telephone bill

Proof of identity (POI) - Anyone of Passport copy / Photo

Driving License with DOB /

Voters ID Card / PAN Card /

Photo Ration Card with DOB

PAN card

Note:

The agreement required to be signed by the investor details the rights andduties of the investor and DP.

DP may revise the charges by giving a 30 days prior notice.


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Chapter 3

STUDY OF SERVICES

PROVIDED BY RELIGARE

AND OTHER BROKERAGE

HOUSES


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3.1 Religare securities ltd services:

The services provided by Religare securities Ltd are

(A) E-Broking

Religare provides softwares to customers for online trading on BSE, NSE, F&O,

MCX & NCDEX.different software product are:

(a) Religare online portal

User-friendly browser for investors Easy online trading platform Works in proxy and firewall system set up Integrated Back office: Access account informationanytime, anywhere Streaming quotes Refresh static rates when required Multiple exchanges on single screen Online fund transfer facility

(b) Religare LG Diet

Application based ideal for traders. Multiple exchanges on single screen User friendly & simple navigation BSC, NSC, F&O, MCX & NCDEX


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(B) Investment Advisory Services

To derive optimum returns from equity requires professional guidance and advice.

Professional assistance will always be beneficial in wealth creation. Investment

decisions without expert advice would be like treating ailment without the help of a

doctor.

Expert Advice: Their expert investment advisors are based at various branchesacross India to provide assistance in designing and monitoring portfolios.

Timely Entry & Exit: Their advisors will regularly monitor customersinvestments and guide customers to book timely profits. They will also guide

them in adopting switching techniques from one stock to another during various

market conditions.

De-Risking Portfolio: A diversified portfolio of stocks is always better thanconcentration in a single stock. Based on their research, They diversify the

portfolio in growth oriented sectors and stocks to minimize the risk and optimize

the returns.

(C) Depositary Participant Services

Religare securities Ltd. is a DP services provider through CDSL and NSDL. We

offer depository services to execute stocks trades and settle these transactions

through Religare Depository services.

Wide branch coverage Personalized/attentive services of trained a dedicated staff Centralized billing & accounting


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Acceptance & execution of instruction on fax Daily statement of transaction & holdings statement on e-mail No charges for extra transaction statement & holdings statement

(D) Portfolio Management Services

Religare offers Portfolio management service (PMS) to address varying investment

preferences. As a focused service, PMS pays attention to details, and portfolios are

customized to suit the unique requirements of investors.

Religare PMS currently extends six portfolio management schemes, viz Monarque,

Panther, Tortoise, Elephant, Caterpillar and Leo. Each scheme is designed keeping in

mind the varying tastes, objectives and risk tolerance of our investors.

Our Schemes

(a) Monarque

The portfolio aims at the ultra High net worth income(HNI) category and is

structured to provide higher returns by taking aggressive positions across sectors and

market capitalizations.

(b) Panther

The Panther is suitable for the "High Risk High Return" investor with a strategy to

invest across sectors.

(c) Tortoise

The Tortoise is suitable for the "Medium Risk Medium Return" investor with a

strategy to invest in companies which have consistency in earnings, growth and

financial performance. The Tortoise portfolio aims to achieve growth in the portfolio


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value over a period of time by way of careful and judicious investment in

fundamentally sound companies having good prospects.

(d) Elephant

The Elephant portfolio aims to generate steady returns over a longer period by

investing in Securities selected only from BSE 100 and NSE 100 index. This plan is

suitable for the Low Risk Low Return investor with a strategy to invest in blue

chip companies, as these companies have steady performance and reduce liquidity

risk in the market.

(e) Caterpillar

The Caterpillar portfolio aims to achieve capital appreciation over a long period of

time by investing in a diversified portfolio. This scheme is suitable for investors with

a high risk appetite. The investment strategy would be to invest in scrips which are

poised to get a re-rating either because of change in business, potential fancy for a

particular sector in the coming years/months, business diversification leading to a

better operating performance, stocks in their early stages of an upturn or for those

which are in sectors currently ignored by the market.

(f) Leo

Leo is aimed at retail customers and structured to provide medium to long-term

capital appreciation by investing in stocks across the market capitalization range.

This scheme is a mix of moderate and aggressive investment strategies.


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3.2 STUDY OF OTHER BROKING HOUSES IN NOIDA

ANGEL BROKING Ltd.

Angel Bookings tryst with excellence in customer relations began more than 20

years ago. Angel Group has emerged as one of the top 3 retail broking houses in

India and incorporated in 1987. Today, Angel has emerged as a premium Indian

stock-broking and wealth management house, with an absolute focus on retail

business and a commitment to provide "Real Value for Money" to all its clients.

It has memberships on BSE, NSE and the leading commodity exchanges in India

NCDEX & MCX. Angel is also registered as a depository participant with CDSL.

Products and services of Angel Broking

Online Trading Commodities DP Services PMS (Portfolio Management Services) Insurance IPO Advisory Mutual Fund Personal loans Quality Assurance


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RELIANCE MONEY

Reliance Money, a Reliance Capital company and part of the Reliance Anil

Dhirubhai Ambani Group is a comprehensive financial services and solution

provider. It is a one-stop-shop, providing end-to-end financial solutions (including

mobile and web-based services). It has the largest non-banking distribution channel

with over 10,000 outlets and 20,000 touch points spread across 5,165 cities/ towns;

catering to the diverse needs of over 3 million existing customers.

Services and product of reliance money

It provides customers with access to Equity, Equity and Commodity

Derivatives, Offshore Investments, Portfolio Management Services, Wealth

Management Services, Investment Banking, Mutual Funds, IPOs, Life and

General Insurance products and Gold Coins. Customers can also avail Loans,

Credit Card, Money Transfer and Money Changing services.

ICICI DIRECT

ICICI Web Trade Limited (IWTL) maintains www.icicidirect.com (herein after

referred to as the "Website") whereas IWTL is an affiliate of ICICI Bank Limited

and the Website is owned by ICICI Bank Limited. IWTL has launched and

established an online trading service on the Website.

Products and Services of ICICI DIRECT


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Investing in Mutual funds Personal Finance Customer Service Features IPOs Margin Trading Margin PLUS Trading Call Trade Trading on NSE/BSE Trade in derivatives

India Infoline Security Private Ltd.

India Infoline.com Securities Pvt. Ltd. is a wholly owned subsidiary of India

Infoline.com Ltd and is the stock broking arm of India Infoline.com. The subsidiary

was formed to comply with regulatory guidelines. www.5paisa.com is a focused

website for online stock market trading. 5paisa.com is a trade name owned by the

India Infoline.com group. IILSPL has applied for trading membership of the BSE

under Securities and Exchange Board of India (Stock Brokers and Sub-Brokers)

Rules 1992.

Product offered by IILSPL

Stock market:-IILSPL deals in stock market by trading in equity and derivatives.

Personal finance: - It Deals In Mutual Fund and Insurance.
http://funct2%28%29/http://marginplus%28%29/http://marginplus%28%29/http://funct2%28%29/


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Online Trading: - It provides services in stock and commodity trading (through

Internet).

SMC SECURITIES

SMC Group, a leading Financial services provider in India is a vertically integrated

investment solutions company, with a pan-india presence. Over the Years, SMC has

expanded its domestic & international operations. Existing network includes regional

offices at Mumbai, Kolkata, Chennai, Bangalore, Cochin, Ahmedabad, Jaipur,

Hyderabad and 1500+ offices across 375+ cities in India. SMC has plans to grow its

network to 2,000 offices across 500+ cities in the next 3 years. The company has

expanded Internationally, and has established office in Dubai Gold and Commodities

Exchange(DGCX).

SERVICES AND PRODUCT OF SMC

Its products and Services include Institutional and retail brokerage of equity,

commodity, currency,derivatives,online trading , investment banking, depository

services, clearing services, IPOs and mutual funds distribution, Portfolio

management, wealth advisory,insurance broking,equity and commodity research.

HDFC SECURITY

HDFC security is the subsidiary of HDFC (Housing Development Financial

Corporation). www.hdfcsec.com would have an exclusive discretion to decide the

customers who would be entitled to its online investing services. www.hdfcsec.com

also reserves the right to decide on the criteria based on which customers would be

chosen to participate in these services .The present web site (www.hdfcsec.com)

contains features of services that they offer/propose to offer in due course. The


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launch of new services is subject to the clearance of the regulators. i.e. SEBI, NSE

and BSE.

Product offered by HDFC Security

Online trading for Resident & Non Resident Indians. Day trading on both NSE and BSE. Trade on Futures & Options on the NSE. Online IPO's. Telephone-based Broking (Equity & Derivatives).

INDIABULLS SECURITIES LIMITED

Indiabulls Securities Limited was incorporated as GPF Securities Private Limited on

June 9, 1995. The name of the company was changed to Orbis Securities Private

Limited on December 15, 1995 to change the profile of the company and

subsequently due to the conversion of the company into a public limited company;

the name was further changed to Orbis Securities Limited on January 5, 2004. The

name of the company was again changed to Indiabulls Securities Limited on

February 16, 2004 so as to capitalize on the brand image of the term Indiabulls in

the company name. ISL is a corporate member of capital market & derivative

segment of The National Stock Exchange of India Ltd.

PRODUCT OFFERED BY INDIA BULLS

Equity & Debt Stock Broking Insurance Commodity trading Depository Services
http://www.sebi.com/http://www.nseindia.com/http://www.bseindia.com/http://www.bseindia.com/http://www.nseindia.com/http://www.sebi.com/


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Derivatives Broking Services Equity Research Services Mutual Fund Distribution IPO Distribution

SHAREKHAN SECURITIES

Sharekhan Securities is one of the leading retail brokerage of Citi Venture which is

running successfully since 1922 in the country. Earlier it was the retail broking arm

of the Mumbai-based SSKI Group, which has over eight decades of experience in the

stock broking business. Sharekhan offers its customers a wide range of equity related

services including trade execution on BSE, NSE, Derivatives, depository services,

online trading, investment advice etc.

Product and services of sahrekhan

Equity Trading Platform (Online/Offline). Commodities Trading Platform (Online/Offline). Portfolio Management Service. Mutual Fund Advisory and Distribution. InsuranceANANDRATHI SECURITIES

Anand Rathi is a leading full service investment bank founded in 1994 offering a

wide range of financial services and wealth management solutions to institutions,


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corporations, highnet worth individuals and families. The firm has rapidly expanded

its footprint to over 350 locations across India with international presence in Dubai &

New York. Founded by Mr. Anand Rathi and Mr. Pradeep Gupta, the group today

employs over 2,500 professionals throughout India and its international offices.

Product and services by Anandrathi securities

Products

Equities I Bonds I Mutual Funds I Derivatives Managed Investment Services / PMS Commodities Life Insurance General Insurance Offshore Structure & Global Investments

Services

Creation of a customized financial strategy Diversification of assets based on a formal process of asset allocation Active tracking, monitoring and review of portfolios Creation of private trusts Tax planning Estate planning Structuring of family wealth


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CHAPTER 4

DATA COLLECTION &

RESEARCH

METHODOLOGY


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RESEARCH METHODOLOGY

Research can be defined as systemized effort to gain new knowledge. A

research is carried out by different methodologies which have their own pros and

cons. Research methodology is a way to solve research in studying and solving

research problem along with logic behind them are defined through research

methodology. Thus while talking about research methodology we are not only

talking of research methods but also considered the logic behind the methods. We are

in context of our research studies and explain why it is being used a particular

method or technique and why the others are not used. So that research result is

capable of being evaluated either by researcher himself or by others

Research has its special significance in solving various operational and

planning problems of business and industry. Research methodology is the way to

systematically solve the research problem.

Execution of the project: -

It is the very important step in the research process accuracy findings depends

on how systematically the study has been carried out in time so that it can make

some sense when required. I have executed the project after prior discussion with the

guide and structured in following steps:

a. Preparation of questionnaire.


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b. Collection of list of some of the broking houses so that more interaction is

possible and the variety of responses can be registered to have a good data

for analysis.

c. Visiting and asking about their feedback on the financial services like

share broking, mutual fund, etc.

1. Data requirements --

a. Name, address and phone number of individual broking housesb. Services provided by broking houses

2. Primary data

a. Primary data has been collected by conducting Personal interview of therespondents.

b. Data collected through the questionnaire.3. Secondary data

a. Data collected official website ofReligare securities ltd..

b. Data collected by referring to the database already maintained in the

company.

4. Data Collection Instruments:-

1.Questionnaire

2.Telephonic communication.

3.E-mail.


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Sample

A finite subset of population, selected from it with the objective of

investigating its properties called a sample. A sample is a representative

part of the population. A sample of 11 respondents in total has been

randomly selected. The response to various elements under each questions

were totaled for the purpose of various statistical testing.

Presentation of Data.

The data are presented through charts and tables.

Tools and Techniques for Analysis.

MS EXCEL is used to for analysis and interpretation of data.

Limitations of study

Time and CostThe time and cost play an important role where one goesfor a particular study. Both of these factors become constraints especially

when a study is conducted at academic level.

Sample Size Due to time and cost constraints the large sample was nottaken. Since the study conducted was with a small sample hence the exact

picture cannot be revealed and the findings cannot be generalized.

Choice of Population- The population selected was limited to the places inNCR. Hence results would have altered if some other population had been

selected.


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Inherent Discrepancies in the Questionnaire- The questionnaire might behaving some undetectable errors and limitations, which could shape the

responses into a particular fashion. No pre-test was done before the

circulation of the questionnaire.

Bias in Response- The data is entirely based on responses given byrespondents which may be biased one due to their personal bias in replying

the questions. They may not be very serious or interested in replying the

questions and make it very lightly, due to which data may not be very

accurate.


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CHAPTER

5

ANALYSIS AND

INTERPRETATION


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Comparative Study of Broking house

Brokerage

Charges

Name of FirmIntraday

(In Paisa)Delivery

(In Paisa) ClientsSub-

BrokerBranches

(Noida)DMAT

in Rs.Margin

MoneyAngel Broking

Ltd. 2 20 1000 35 1 750 5000Reliance Money 0.5 75 4000 17 1 950 0Sharekhan

Securities 5 25 1000 25 4 850 10000SMC securities

ltd. 3 30 300 20 2 650 5000India Infoline 3 25 550 7 5 800 5000ICICI Direct 7.5 75 400 0 1 499 5000Kotak Securities 3 30 400 0 1 300 5000India Bulls 3 30 2000 0 2 700 0Anand Rathi

Securities 3 20 500 11 2 700 0Religare

Securities 2 25 1700 40 5 500 0HDFC Securities 3 15 200 20 2 650 7000

Table5.1


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Services

E-Broking

Investment

Advisory

PMS

Depository

participants

Insurance

Backoffice

M-Connect

Funding

Relationship

manager

Personal

Loans

Software

ReligareSecurities

Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes

ICICI Direct Yes No Yes Yes Yes Yes No Yes No No Yes

India Infoline

Security Pvt.

Ltd.

Yes Yes Yes Yes No Yes No No Yes Yes Yes

HDFC Securities Yes Yes Yes Yes No Yes No Yes No Yes Yes

Indiabulls Yes Yes No Yes Yes Yes No No Yes Yes Yes

Kotak Securities Yes Yes Yes Yes Yes Yes No No No Yes Yes

Reliance Money Yes Yes No Yes Yes Yes Yes No Yes Yes Yes

Sharekhan

SecuritiesYes Yes Yes Yes No Yes No No Yes Yes Yes

SMC securities ltd Yes Yes No Yes Yes Yes No No No Yes Yes

Anand Rathi

SecuritiesYes Yes Yes Yes Yes Yes No No Yes No Yes

Angel Broking ltd. Yes Yes Yes Yes Yes Yes No No Yes Yes Yes

Table 5.2


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Market shares

Religare

15%

Reliance money

27%

India bulls

18%

others

40%

Religare

Reliance money

India bullsothers

Fig5.1

Interpretation: This shows that even with sufficiently high Brand Equity, Religare

ranks only 3rd

amongst the Demat account providers. This is probably because of two

main reasons:

1. Lack of promotion and unfocussed approach towards Product awareness2. Nontransparent marketing policies of the company

Hence, the company should crystallize its products and should indulge in aggressive

marketing and promotion.


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Comparison of intraday brokerage

0.5

5

3 3

7.5

3 3 32

32

01234567

8

Intraday brokerage in paisa

Intraday brokerage

Fig 5.2

Interpretation:

This shows that intraday brokerage charges are taken by Religare is 2 paisa/100 Rs

and by reliance money it is .5 paisa so for more customers Religare has to work on

its brokerage charges.


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Comparison of delivery brokerage

Fig5.3

Interpretation:

This shows that delivery brokerage charges is taken by Religare is 20 paisa/100 Rs

and by Angel broking it is 15 paisa so for more customer Religare has to work on its

brokerage charges.


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Comparison of Account opening charges

950850

650

800

499

300

700 700

500

650750

0100200300400500600700800900

1000

Account opening charges

Account opening charges

Fig5.4

Interpretation:

This shows that account opening charges is taken by Religare is 500 Rs and by

sharekhan securities it is 350 Rs so for more customer Religare has to work on its

brokerage charges


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CHAPTER 6

CONCLUSION


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CONCLUSION

Religare is providing softwares for online clients Religare provides research and personalized advice on what stocks to buy and

sell.

Religare provide the facility of relationship manager facility forencouragement and protect the interest of the investors.

It also provides the information through the internet and mobile alerts thatwhat IPOs are coming in the market

It also provides its research on the future prospect of the IPO.


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CHAPTER 7

RECOMMENDATIONS


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RECOMMENDATIONS

Try to reduce cost, so that benefits can be passed on to customers. Seniormanagers at Religare keep on telling that it is difficult to reduce cost, because of

services we provide. But the fact is, India being a price sensitive market; people at

times go for monetary benefits rather than for long-term non- monetary benefits.

If charges cant be reduced because of costs involved, make the servicescustomized, so that services are provided to only those customers who are willing to

pay the price for services they are getting and let the other customers enjoy costs

benefits without getting services.

Religare should contact with their clients regularly for knowing the problemsfaced by them. This will help Religare in providing best services to customers. This

will result in additional customer base by getting further references from satisfied

clients.


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ANNEXURE

QUESTIONNAIRE

Date _ _ /_ _ /_ _

Name of Company :

_____________________________________________________

Address :_____________________________________________________

Name of Representative :____________________ ___ Contact No. :

______________

1. Are you offering these products/services to your existing customers? (Please tickon this)

A) E-Broking B) Investment Advisory ServicesC) Depository participants D) PMS E) Back Office

E) Others ( ___________)

2. How many clients are you having active?________________________________________

3. How many sub-brokers is your company having?__________________________________

4. How much you charge for Products/services?S. No. Name of service/Product Charges (In Rs.)

1 DMAT Account

2 Margin Money

3 Brokerage (Equity) Same Day // Delivery

4 Brokerage (Commodity)

5 Sub - Broker ship charges


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5. Are you organizing any events or survey for customers awareness? (If yes thenspecify)

____________________________________________________________________

__________

6. Any special services which makes you different in market?____________________________________________________________________

__________

7. Who are the major competitors in market for your company?___________________________________________________________________

__________


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BIBLIOGRAPHY

References: - For web support

1) www.mcxindia.com2) www.religare.in3) www.answers.com4) www.ncdex.com5) www.businessstandard.com

Books , Magazines & News-papers references

1) Naresh Malhotra ( market research management)2) Philip Kotler ( marketing management)3) The economic times4) Daily market commentary, daily research reports of

Religare commodities Ltd.
http://www.mcxindia.com/http://www.mcxindia.com/http://www.religare.in/http://www.religare.in/http://www.answers.com/http://www.answers.com/http://www.ncdex.com/http://www.ncdex.com/http://www.businessstandard.com/http://www.businessstandard.com/http://www.businessstandard.com/http://www.ncdex.com/http://www.answers.com/http://www.religare.in/http://www.mcxindia.com/

Report New Comparetive Nirmal With Margin

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