Under the guidance of

Mr. Snehasis Das

Branch Manager
FOR PARTIAL FULFILLMENT OF THE REQUIREMENT OF
MBA

Submitted To:
DDCE, SAMBALPU U!"#ES"T$

Submitted B%:
MBA-08
BIJAN KUMAR MOHANTY
Roll No: 10MBA706
Regd. No: 6020!
MBA-08
C&!TE!T
Certificate Of The Organisation
Executive Summary
Company Profile
Company History
Ojt
Introduction
Revie Of !itrature
Collection Of "ata
#ethodology
o Sample
o Procedure
Results
"iscussion $nd Conclusion
Recommendation
%i&liography
$ppendix
MBA-08
CERTIFICATE BY THE ORGANIZATION

This is to certify that the Project entitled' A Study On Consumer Behavior
Regarding Investment On Financial Instruments At Karvy Stock Broking
Ltd. is a genuine Interim report carried out &y %ijan (umar #ohanty' for the
partial fulfillment of #aster of %usiness $dministration)
*#r) Snehasis "as+
"ate, %ranch #anager


MBA-08
EXAMINERS CERTIFICATE
This project is su&mitted &y %ijan (umar #ohanty of #%$ &earing the
Roll -o) ./#%$0/1 under ""CE' Sam&alpur 2niversity and forarded for
evaluation)
Internal Examiner External Examiner
MBA-08
CET"'"CATE &' APP&#AL
This is to Certif% that the Pro(ect Entit)ed:
*A Study On Consumer Behavior Regarding
Investment On Financial Instruments At Karvy Stock
Broking Ltd.+
Su&mitted &y Bian Kumar !ohanty *Enr) -o 1/34/5+' Sam&alpur 2niversity' %urla
toards partial fulfillment of the re6uirements for the aard of the degree of #aster of
%usiness $dministration *#%$+ is a &ona fide record of the or7 carried out &y him
under the a&le guidance of Samir Mishra' 8aculty' -ICE' Talcher)
*$pproval of the Center "irector+
MBA-08
DECLARATION
I here &y declare that this Project Re"ort A Study On Consumer
Behavior Regarding Investment On Financial Instruments At Karvy Stock
Broking Ltd.# is of my on 9or7) It has &een su&mitted fully or partly to
the ""CE' S$#%$!P2R 2-I:ERSIT;' for aarding project mar7s or
any other)

Bian Kumar !ohanty

MBA-08
CERTIFICATE OF GUIDE
This is to certify that Bijan Kua! M"#an$% bearing the
Enrollment No. 602/09 is a bonafide student of DDCE,
ambal!ur "ni#ersity. $e has conducted the !ro%ect on &A
S$u'% On C"n(u)! B)#a*i"! !)+a!'in+ In*)($)n$ On
Finan,ia- In($!u)n$( A$ Ka!*% S$",. B!".in+ L$'/0 under
my guidance as !er the !artial fulfillment of the re&uirement of
the degree of '.(.).
To the best of my *no+ledge she has +or* sincerely to being this
re!ort.
Samir Mishra
MBA-08
AC,!&-LED.EME!T
I sincerely than7 #r) Snehasis "as *Preceding %ranch #anager+'
#r) -iranjan %al *%ranch #anager+ and all the staff mem&ers of (arvy
Stoc7 %ro7ing !td for giving me this opportunity to or7 in the esteemed
organi<ation and helping me for completing the project in a successful
manner)
#y regards to my family mem&er for guiding and support to me) !ast
&ut not the least= I>m very than7ful to ""CE' Sam&alpur 2niversity for
helping me in resolving every issue) #y project at (arvy Stoc7 %ro7ing !td
has &een proved to &e an enriching experience)
Bian Kumar !ohanty

MBA-08
KARVY LTD.
MBA-08
MBA-08
HISTORY OF KARVY


HISTORY OF KARVY


CH$PTER?/.
HISTOR; O8 ($R:;
The &irth of (arvy as on a modest scale in .5@.) It &egan ith the vision and
enterprise of a small group of practicing Chartered $ccountants ho founded the flagship
company A(arvy Consultants !imited) 9e started ith consulting and financial
accounting automation' and carved inroads into the field of registry and share accounting
&y .5@B) Since then' e have utili<ed our experience and superlative expertise to go from
strength to strengthAto &etter our services' to provide ne ones' to innovate' diversify
and in the process' evolved (arvy as one of India>s premier integrated financial service
enterprise)
Thus over the last 3/ years (arvy has traveled the success route' toards &uilding a
reputation as an integrated financial services provider' offering a ide spectrum of
services) $nd e have made this journey &y ta7ing the route of 6uality service' path
&rea7ing innovations in service' versatility in service and finallyAtotality in service) Its
highly 6ualified manpoer' cutting?edge technology' comprehensive infrastructure and
total customer?focus has secured for us the position of an emerging financial services
giant enjoying the confidence and support of an envia&le clientele across diverse fields in
the financial orld)
Its values and vision of attaining total competence in our servicing has served as the
&uilding &loc7 for creating a great financial enterprise' hich stands solid on our
fortresses of financial strength ? our various companies)
9ith the experience of years of holistic financial servicing &ehind us and years of
complete expertise in the industry to loo7 forard to' e have no emerged as a premier
integrated financial services provider)
$nd today' (arvy loo7 ith pride at the fruits of mastery and experience C
comprehensive financial services that are competently segregated to service and manage
a diverse range of customer re6uirements)
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In the year .5@.' ($R:; as started &y these five milestones' they areA)
,/ ,UTUMB A&
A0A$ ,UMA
/ AM ,"S1!A
#/ #"0A$ ,UMA
$/ $U.A!D1A
These five people *Chartered $ccountant+ have started ($R:; ith a vie to provide
financial services and consultancy to the needed people) %y profession these five people
are Chartered $ccountants)
($R:; as an organisation started its operation in the year .505 and thereafter it goes on
setting up milestones after mile stones)
($R:; a premier integrated financial services company hich has' over the years'
firmly entrenched its name into various segments of the financial services industry)
%ac7ed &y a sound state?of?the?art technology and a highly motivated employee force'
(arvy has carved a niche for itself and is ran7ed among the top companies in the area of
financial services) It has a ide netor7 of BD/ E %ranches hich gives ($R:; a
tremendous mileage in &eing close to the retail customer) $ll of (arvy services are also
&ac7ed &y strong 6uality aspects' hich have helped (arvy to &e certified as an ISO 5//3
Company &y "-:)$part from &eing the largest Registrar in the country' ($R:; is also
a registered "epository Participant ith -S"! and C"S!' and ran7ed among the top B
"epository Participants in the country)
-o this given &elo defines (arvy
Serving Every 3/th Citi<en of India
$mong the top B stoc7 &ro7ers in India *DF of -SE volumes+
IndiaGs -o). Registrar H Securities Transfer $gents
ISO 5//3 Certified Operations &y "-:
$mong top ./ Investment %an7ers
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!argest "istri&utor of 8inancial Products
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CH$PTER?
/3
#ISSIO- O8 ($R:;,
Our mission is to be a leading and preerred ser!i"e pro!ider to
our "ustomers# and $e aim to a"%ie!e t%is leaders%ip position b&
building an inno!ati!e# enterprising# and te"%nolog& dri!en
organi'ation $%i"% $ill set t%e %ig%est standards o ser!i"e and
business et%i"s (.
Our Clients) Our 8ocus, Clients are the reason for our &eing personali<ed service'
professional care= pro?activeness are the values that help us nurture enduring
relationships ith our clients)
Respect for the individual, Each and every individual is an essential &uilding
&loc7 of our organi<ation) 9e are the 7iln that hones individuals to perfection) %e
they our employees' shareholders or investors) 9e do so &y upholding their
dignity H pride' inculcating trust and achieving a sensitive &alance of their
professional and personal lives)
MBA-08
CO!$A%&
$ROFIL'
Teamor7, I-one of us is more important than all of usJ) Each team mem&er is
the face of (arvy) Together e offer diverse services ith speed' accuracy and
6uality to deliver only one product, excellence) Transparency' co?operation'
invalua&le individual contri&utions for a collective goal' and respecting individual
uni6ueness ithin a corporate hole' are ho e deliver again and again)
Responsi&le Citi<enship, $ social &alance sheet is as rearding as a &usiness one)
$s a responsi&le corporate citi<en' our duty is to foster a &etter environment in the
society here e live and or7) $&iding &y its norms' and &ehaving responsi&ly
toards the environment' are some of our groing initiatives toards reali<ing it)
Integrity, Everything else is secondary) Professional and personal ethics are our
&edroc7) 9e ta7e pride in an environment that encourages honesty and the
opportunity to learn from failures than camouflage them) 9e insist on consistency
&eteen or7s and actions)
($R:;' is a premier integrated financial services provider' and ran7ed among the top
five in the country in all its &usiness segments' servicing over .1 million individual
investors in various capacities' and provides investor>s servicing to over K// corporates'
comprising the ho>s ho of India Inc) (arvy group covers the entire spectrum of
financial services such as stoc7 &ro7ing' depository participants' distri&ution of financial
products ? mutual funds' &onds' fixed deposit' e6uities' insurance &ro7ing' commodities
&ro7ing' personal finance advisory services' merchant &an7ing H corporate finance'
placement of e6uity' IPOs' among others) (arvy has a professional management team and
ran7s among the &est in technology' operations and research of various industrial
segments)
In a span of over to decades' (arvy has emerged as one of the leading financial services
company in India driven &y professionalism and an unavering commitment to
innovation) (arvy continues to surge ahead &y identifying' assessing and meeting critical
MBA-08
needs of its corporate clients and professionals) (arvy has in the course of its various
activities' felt an acute need for a greater degree of corporate compliance' legal
aareness' easy access and reference to corporate las and records on the part of
corporates' corporate executives and professionals) It has different sectors that are given
&elo,
(arvy Stoc7 %ro7ing !td,
#em&er ? -ational Stoc7 Exchange *-SE+' The %om&ay Stoc7 Exchange *%SE+' and
The Hydera&ad Stoc7 Exchange *HSE+)(arvy Stoc7 %ro7ing !imited' one of the
cornerstones of the (arvy edifice' flos freely toards attaining diverse goals of the
customer through varied services creating a plethora of opportunities for the customer &y
opening up investment vistas &ac7ed &y research?&ased advisory services) Here' groth
7nos no limits and success recogni<es no &oundaries) Helping the customer create
aves in his portfolio and empoering the investor completely is the ultimate goal)
(arvy offers services that are &eyond just a medium for &uying and selling stoc7s and
shares) Instead e provide services hich are multi dimensional and multi?focused in
their scope) There are several advantages in utili<ing our Stoc7 %ro7ing services' hich
are the reasons hy it is one of the &est in the country) It offers trading on a vast
platform= -ational Stoc7 Exchange' %om&ay Stoc7 Exchange and Hydera&ad Stoc7
Exchange) #ore importantly' it ma7es trading safe to the maximum possi&le extent' &y
accounting for several ris7 factors and planning accordingly) It is assisted in this tas7 &y
its in?depth research' constant feed&ac7 and sound advisory facilities) The 8inapolis'
hich analy<es the latest stoc7 mar7et trends and ta7es a close loo7 at the various
investment options' and products availa&le in the mar7et' hile a ee7ly report' called
(arvy %a<aar %aatein' 7eeps you more informed on the immediate trends in the stoc7
mar7et) In addition' our specific industry reports give comprehensive information on
various industries) %esides this' (arvy also offer special portfolio analysis pac7ages that
provide daily technical advice on scrips for successful portfolio management and provide
customi<ed advisory services to help customers ma7e the right financial moves that are
specifically suited to its portfolio)
MBA-08
(arvy Comtrade !td,
(arvy Comtrade !imited is another venture of the prestigious (arvy group) 9ith its ell
esta&lished presence in the multifarious facets of the modern 8inancial services industry
from stoc7 &ro7ing to registry services' it is indeed a pleasure for us to ma7e foray into
the commodities derivatives mar7et hich opens yet another door for us to deliver its
service to its &eloved customers and the investor pu&lic at large) Commodities mar7et'
contrary to the &eliefs of many people' has &een in existence in India through the ages)
Hoever the recent attempt &y the Lovernment to permit #ulti?commodity -ational
levels exchanges has indeed given it' a shot in the arm) $s a result to exchanges #ulti
Commodity Exchange *#CM+ and -ational Commodity and derivatives Exchange
*-C"EM+ have come into &eing) These exchanges' &y virtue of their high profile
promoters and sta7eholders' &undle in themselves' online trading facilities' ro&ust
surveillance measures and a hassle?free settlement system) The futures contracts availa&le
on a ide spectrum of commodities li7e Lold' Silver' Cotton' Steel' Soya oil' Soya &eans'
9heat' Sugar' Channa etc)' provide excellent opportunities for hedging the ris7s of the
farmers' importers' exporters' traders and large scale consumers)
Lold' ' Silver' Castor Seeds' Soy Seeds' Castor Oil' Refined Soy Oil' Soymeal' R%"
Palmolein' Crude Palm Oil' Lroundnut Oil' #ustard Seed' #ustard Seed Oil' Cottonseed
Oilca7e' Cotton seed' Pepper' Red Chilly' Neera' Turmeric' Steel !ong' Steel 8lat' Copper'
-ic7el' Tin etc)
(apas' !ong Staple Cotton' #edium Staple Cotton'

Chana' 2rad' ;ello Peas' Rice' %asmati Rice' 9heat' #ai<e' Sar&ati Rice

Crude Oil
(arvy Computer share Private !imited,
It is a joint venture &eteen Computer share' $ustralia and (arvy Consultants !imited'
India in the registry management services industry) Computer share' $ustralia is the
orld>s largest and only glo&al share registry ith the joint venture ith Computer share'
rec7oned as the largest registrar in the orld' servicing over 1/ million shareholder
MBA-08
accounts for over 0'/// corporations across eleven countries spread across five
continents) Computer share manages more than 0/ million shareholder accounts for over
.K'/// corporations around the orld) (arvy Computer share Private !imited' today' is
IndiaGs largest Registrar and Share Transfer $gent servicing over K// corporate and
mutual funds and .1 million investors)
Products H Services (arvy Computer share is the largest share registry and transfer
agency in the country and provides unmatched registry management services to corporate
clients) (arvy>s service gamut includes Initial Pu&lic Offers *IPO>s+ processing' share
holder servicing' effecting corporate actions' investor information services and host of
technology ena&led services to facilitate efficient and effective service delivery)
Corporate Share and #utual 8und Registry Services
Transaction Processing Services
Investor Communication Services
Technology Ena&led Services
(arvy Llo&al Services !imited,
It is an ISO 5//.,3/// certified company and as the first third party &usiness and
7noledge process outsourcing company in India to o&tain ISO 30//.,3//B
certifications) ($R:; Llo&al Services !imited strives to offer clients a comforting
experience that mitigates concerns on 6uality &y having in place the policies' processes'
measures and controls hich is at par ith the &est in the orld) Six Sigma
methodologies are implemented in all phases of every project to ensure continuous
improvement)
Its employees are the &iggest am&assadors of the company and its internal customers) It
understands that managing the people factor is the 7ey to our groth and satisfaction of
its clients) It has provided for an ergonomic and comforta&le or7 environment that
fosters an open and progressive culture) (arvy have &een a&le to attract talent from all
across the country &y virtue of its presence across KB/ cities in India)
(arvy Insurance %ro7ing Private !imited,
MBA-08
(arvy>s ide national netor7' spanning the length and &readth of India' further supports
these advantages) 8urther' personali<ed service is provided here &y a dedicated team
committed in giving hassle?free service to the clients) $t (arvy Insurance %ro7ing Pvt)
!td)' it provides &oth life and non?life insurance products to retail individuals' high net?
orth clients and corporate) 9ith the opening up of the insurance sector and ith a large
num&er of private players in the &usiness' it is in a position to provide tailor made
policies for different segments of customers) In its journey to emerge as a personal
finance advisor' it ill &e &etter positioned to leverage its relationships ith the product
providers and place the re6uirements of the customers appropriately ith the product
providers) 9ith Indian mar7ets seeing a sea change' &oth in terms of investment pattern
and attitude of investors' insurance is no more seen as only a tax saving product &ut also
as an investment product) %y setting up a separate entity' it ould &e positioned to
provide the &est of the products availa&le in this &usiness to the customers)
(arvy Consultants !imited,
$s the flagship company of the (arvy Lroup' (arvy Consultants !imited has alays
remained at the helm of organi<ational affairs' pioneering &usiness policies' or7 ethic
and channels of progress) Having emerged as a leader in the registry &usiness' the first of
the &usinesses that it ventured into' it has no transferred this &usiness into a joint
venture ith Computer share !imited of $ustralia' the orld>s largest registrar) Today' it
provide service over seven la7h customer accounts in this &usiness spread across over
BD/ cities4tons in India and are ran7ed amongst the largest "epository Participants in
the country)
IT Ena&led Services,
(arvy>s technology Services division forms the ideal platform to unleash its technology
initiatives and ma7e its presence felt on the Internet) (arvy>s past achievements include
many 6uality e&sites designed' developed and deployed &y the company) Company also
possess our on e& hosting facilities ith dedicated &andidth and a state?of?the?art
server farm *data center+ ith services functioning on a variety of operating platforms
such as 9indos' Solaris' !inux and 2-IM)
MBA-08
(arvy Investor Services !imited,
Recogni<ed as a leading merchant &an7er in the country' (arvy has registered ith SE%I
as a Category I merchant &an7er) This reputation as &uilt &y capitali<ing on
opportunities in corporate consolidations' mergers and ac6uisitions and corporate
restructuring' hich have earned the reputation of a merchant &an7er) Raising resources
for corporate or Lovernment 2nderta7ing successfully over the past to decades have
given the confidence to rene its focus in this sector) (arvy>s 6uality professional team
and our or7?oriented dedication have propelled it to offer value?added corporate
financial services and act as a professional navigator for long term groth of its clients'
ho include leading corporate State Lovernments' foreign institutional investors' pu&lic
and private sector companies and &an7s' in Indian and glo&al mar7ets) It has also
emerged as a trail&la<er in the arena of relationships' &oth at the customer and trade
levels &ecause of its unsha7a&le integrity' seamless service and innovative solutions that
are tuned to meet varied needs) Its team of committed industry specialists' having
extensive experience in capital mar7ets' further nurtures this relationship) (arvy>s
financial advice and assistance in restructuring' divestitures' ac6uisitions' de?mergers'
spin?offs' joint ventures' privati<ation and ta7eover defense mechanisms have elevated its
relationship ith the client to one &ased on unsha7a&le trust and confidence)
(arvy Realty and Services *India+ !imited *(RSI!+,
It is promoted &y the ($R:; Lroup' India>s largest integrated financial services group)
The group carries forard its legacy of trust and excellence in investor and customer
services delivered ith a passion for services and the highest level of 6uality that align
ith glo&al standards) (arvy Realty and Services *India+ !imited is engaged in the
&usiness of real estate and property services offering value added property services)
(arvy Realty and Services !imited is your next?door IPersonal Real Estate $dvisorJ to
guide and hand hold you through real estate transactions and mentoring valua&le
investment opportunities) (arvy Realty and Services !imited offers truly international
6uality services in the area of property services serving individual and commercial
esta&lishments)
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(arvy Inc,
9ith our groing am&itions of reaching out to investors across the shores of this country'
(arvy group has set up (arvy Inc) in the 2S located in -e ;or7 to provide various
financial products and information on Indian e6uities to potential 8oreign Institutional
Investors *8IIs+ in the region) (arvy Inc) is registered as a &ro7er?dealer ith -;SE) This
entity ould extensively facilitate various &usinesses of (arvy vi<)' stoc7 &ro7ing *Indian
e6uities+' research and investment &y Oualified Institutional %uyers *OI%s+ in Indian
mar7ets for &oth secondary and primary offerings)
,ar2% Ad2antage ,
Personali<ed services at your doorstep
Choice of properties to suit your &udget
$ssistance in getting &an7 finance
Hand holding till the completion of the transaction
$dvice on real estate investments &ac7ed &y research
($R:; is the Stoc7 %ro7er and are Registered #em&er of the -ational Stoc7 Exchange
and the Hydera&ad Stoc7 Exchange) It has over the last fe years' set up Trading
Terminals across the country and today have a netor7 of more than BD/ Terminals
located at over K/ cities to provide retail stoc7 &ro7ing services) Its Stoc7 %ro7ing arm is
&ac7ed &y a very strong research team comprising of highly charged professionals ho
conduct studies on various industry segment and corporates)
(arvy is SE%I registered Category I merchant &an7er and is today ran7ed among the top
ten in the country) (arvy is 7non in the merchant &an7ing segment as a professional
advisor in structuring IPOs' ta7eover assignments and &uy&ac7 exercises) 9ith the
economy trends offering multifarious opportunities in corporate consolidations' mergers
and ac6uisitions' hive offs and corporate restructuring' (arvy is positioning itself as a
corporate consultant hich ould offer value added services and act as a professional
navigator for long term groth of its clients) (arvy has the &ac7ing of a professional
team ith experience in handling financial climates in &oth Indian and glo&al mar7ets)
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%ac7ed &y a predominantly service oriented culture and also capitali<ing on its
experience of handling a variety of customers' e offer a plethora of financial products
through our retail arm C KAR(&)*+' FI%A$OLIS) The &usiness of distri&ution of
financial products includes Pu&lic Issue of &onds' e6uity shares' fixed deposits of
corporates' distri&ution of units of various #utual 8unds' a &as7et of lia&ility products
comprising personal loans' car loans' housing loans and loans against shares and as the
sunrise mar7et of Insurance products) $part from these products' PThe 8inapolisP also
offers personal tax planning advice' share &ro7ing and demat services) $ll these products
reach the ultimate customer through our ide spread netor7 of &ranches and retail
outlets)
KAR"Y #TO$K BROKIN% LIMITE&
Member ? -ational Stoc7 Exchange *-SE+' The %om&ay Stoc7 Exchange *%SE+' and
The Hydera&ad Stoc7 Exchange *HSE+) (arvy Stoc7 %ro7ing !imited' one of the
cornerstones of the (arvy edifice' flos freely toards attaining diverse goals of the
customer through varied services) Creating a plethora of opportunities for the customer
&y opening up investment vistas &ac7ed &y research?&ased advisory services) Here'
groth 7nos no limits and success recogni<es no &oundaries) Helping the customer
create aves in his portfolio and empoering the investor completely is the ultimate
goal)
Stoc3 Bro3ing Ser2ices
It offers services that are &eyond just a medium for &uying and selling stoc7s and shares)
Instead it provides services hich are multi dimensional and multi?focused in their scope)
There are several advantages in utili<ing its Stoc7 %ro7ing services' hich are the
reasons hy it is one of the &est in the country) It offers trading on a vast platform=
MBA-08
-ational Stoc7 Exchange' %om&ay Stoc7 Exchange and Hydera&ad Stoc7 Exchange)
#ore importantly' it ma7es trading safe to the maximum possi&le extent' &y accounting
for several ris7 factors and planning accordingly) It is assisted in this tas7 &y its in?depth
research' constant feed&ac7 and sound advisory facilities) Its highly s7illed research team'
comprising of technical analysts as ell as fundamental specialists' secure result?oriented
information on mar7et trends' mar7et analysis and mar7et predictions) This crucial
information is given as a constant feed&ac7 to our customers' through daily reports
delivered thrice daily = The Pre?session Report' here mar7et scenario for the day is
predicted' The #id?session Report' timed to arrive during lunch &rea7 ' here the mar7et
forecast for the rest of the day is given and The Post?session Report' the final report for
the day' here the mar7et and the report itself is revieed) To add to this repository of
information' it pu&lishes a monthly maga<ine (arvy= The 'ina4o)is' hich analy<es the
latest stoc7 mar7et trends and ta7es a close loo7 at the various investment options' and
products availa&le in the mar7et' hile a ee7ly report' called ,ar2% Ba5aar Baatein'
7eeps you more informed on the immediate trends in the stoc7 mar7et) In addition' our
specific industry reports give comprehensive information on various industries) %esides
this' it also offers special portfolio analysis pac7ages that provide daily technical advice
on scrips for successful portfolio management and provide customi<ed advisory services
to help you ma7e the right financial moves that are specifically suited to your portfolio)
Its Stoc7 %ro7ing services are idely netor7ed across India' ith the num&er of its
trading terminals providing retail stoc7 &ro7ing facilities)) 8actors such as its success in
the Electronic custody &usiness has helped &uild on its tradition of trust even more)
Conse6uentially its retail client &ase expanded very fast) To empoer the investor further
it has made serious efforts to ensure that its research calls are disseminated systematically
to all our stoc7 &ro7ing clients through various channels chat' e?mail' S#S etc) Its foray
into commodities &ro7ing has &een path &rea7ing and e are in the process of converting
existing traders in commodities into the more organi<ed mainstream of trading in
commodity futures' &oth as a trading and ris7 hedging mechanism) In the future' its focus
ill &e on the emerging &usinesses and to meet this o&jective' e have enhanced our
manpoer and revitali<ed our 7noledge &ase ith enhances focus on 8utures and
Options as ell as the commodities &usiness)
MBA-08
De4ositor% Partici4ants:
The onset of the technology revolution in financial services Industry sa the emergence
of (arvy as an electronic custodian registered ith -ational Securities "epository !td
*-S"!+ and Central Securities "epository !td *CS"!+ in .55@) (arvy set standards
ena&ling further comfort to the investor &y promoting paperless trading across the
country and emerged as the top K "epository Participants in the country in terms of
customer serviced) Offering a ide trading platform ith a dual mem&ership at &oth
-S"! and C"S!' e are a poerful medium for trading and settlement of
demateriali<ed share) It has esta&lished live "P#s' Internet access to accounts and an
easier transaction process in order to offer more convenience to individual and corporate
investors) $ team of professional and the latest technological expertise allocated
exclusively to it>s demat division including technological enhancements li7e SPEE"?e=
ma7e its response in a very short period of time and its delivery impecca&le)
Distribution of 'inancia) Products:
The paradigm shift from pure selling to 7noledge &ased selling drives the &usiness
today) 9ith our ide portfolio offerings' it occupies all segments in the retail financial
services industry) $ .1// team of highly 6ualified and dedicated professionals dran
from the &est of academic and professional &ac7grounds are committed to maintaining
high levels of client service delivery) This has propelled us to a position among the top
distri&utors for e6uity and de&t issues ith an estimated mar7et share of .BF in terms of
applications mo&ili<ed' &esides &eing esta&lished as the leading procurer in all pu&lic
issues) Its monthly maga<ine' 8inapolis' provides up?dated mar7et information on mar7et
trends' investment options' opinions etc)
Ad2isor% Ser2ices
2nder its retail &rand Q(arvy C the 8inapolisG' it delivers advisory services to a cross?
section of customers) The service is &ac7ed &y a team of dedicated and expert
professionals ith varied experience and &ac7ground in handling investment portfolios)
They are continually engaged in designing the right investment portfolio for each
customer according to individual needs and &udget considerations ith a comprehensive
support system that focuses on trading customersG portfolios and providing valua&le
inputs' monitoring and managing the portfolio through varied technological initiatives)
MBA-08
Pri2ate C)ient .rou4
This speciali<ed division as set up to cater to the high net orth individuals and
institutional clients 7eeping in mind that they re6uire a different 7ind of financial
planning and management that ill augment not just existing finances &ut their life?style
as ell) Here it follos a hard?nosed &usiness approach ith the soft touch of dedicated
customer care and personali<ed attention) 8or this purpose it offers a comprehensive and
personali<ed service that encompasses planning and protection of finances' planning of
&usiness needs and retirement needs and a host of other services' all provided on a one?
to?one &asis) Its research reports have &een idely appreciated &y this segment) The
delivery and support modules have &een fine tuned &y giving its clients access to online
portfolio information' constant updates on their portfolios as ell as value?added advise
on portfolio churning' sector sitches etc) The investment recommendations given &y its
research team in the cash mar7et has enjoyed a high success rate)
,A#$ "!#EST& SE#"CES L"M"TED
Merchant Ban3ing
Recogni<ed as a leading merchant &an7er in the country' e are registered ith SE%I as a
Category I merchant &an7er) This reputation as &uilt &y capitali<ing on opportunities in
corporate consolidations' mergers and ac6uisitions and corporate restructuring' hich
have earned us the reputation of a merchant &an7er) Raising resources for corporate or
Lovernment 2nderta7ing successfully over the past to decades have given the
confidence to rene its focus in this sector) Its 6uality professional team and its or7?
oriented dedication have propelled us to offer value?added corporate financial services
and act as a professional navigator for long term groth of our clients' ho include
leading corporates' State Lovernments' foreign institutional investors' pu&lic and private
sector companies and &an7s' in Indian and glo&al mar7ets) It has also emerged as a
MBA-08
trail&la<er in the arena of relationships' &oth at the customer and trade levels &ecause of
our unsha7a&le integrity' seamless service and innovative solutions that are tuned to meet
varied needs) Its team of committed industry specialists' having extensive experience in
capital mar7ets' further nurtures this relationship) Its financial advice and assistance in
restructuring' divestitures' ac6uisitions' de?mergers' spin?offs' joint ventures'
privati<ation and ta7eover defense mechanisms have elevated our relationship ith the
client to one &ased on unsha7a&le trust and confidence)
,A#$ C&MPUTES1AE P"#ATE L"M"TED:
It has traversed ide spaces to tie up ith the orld>s largest transfer agent' the leading
$ustralian company' Computer share !imited) The company that services more than 0B
million shareholders across 0/// corporate clients and ma7es its presence felt in over .3
countries across B continents has entered into a B/?B/ joint venture ith it) 9ith its
management team completely transferred to this ne entity' it ill aim to enrich the
financial services industry than &efore) The future holds ne arenas of client servicing
and contemporary and relevant technologies as it has geared to deliver &etter value and
foster &igger investments in the &usiness) The orldide netor7 of Computer share ill
hold us in good stead as e expect to adopt international standards in addition to
leveraging the &est of technologies from around the orld)
"ssue egistr%
In our voyage toards &ecoming the largest transaction?processing house in the Indian
Corporate segment' e have mo&ili<ed funds for numerous corporate' (arvy has emerged
as the largest transaction?processing house for the Indian Corporate sector) 9ith an
experience of handling over 0// issues' (arvy today' has the a&ility to execute
voluminous transactions and hard?core expertise in technology applications have gained
us the -o). slot in the &usiness) (arvy is the first Registry Company to receive ISO
5//.,3/// certification in India that stands testimony to its stature (arvy has the &ac7ing
of s7illed human resources complemented &y re6uisite technological pac7ages to ensure a
faster processing capa&ility) (arvy has the &enefit of a good synergy &eteen
MBA-08
depositories and registry that ena&les faster resolution to related customer 6ueries) $part
from its uni6ue investor servicing presence in all the phases of a pu&lic Issue' it is
actively coordinating ith &oth the main depositories to develop special models to ena&le
the customer to access depository *-S"!' C"S!+ services during an IPO) Our trust?
orthy reputation' competent manpoer and high?end technology and infrastructure are
the solid foundations on hich its success is &uilt)
.ro6th stor% of ,ar2% o2er 4eriods:
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MBA-08
C+A$*'R),-
O% *+' .OB
*RAI%I%/
0O.*1
O%NECTI:ES
T$RLETS4T$S(S
STR$TELIES
$CHIE:E#E-TS
!I#IT$TIO-S
CO-C!2SIO-
MBA-08
CO-TE-TS
&! T1E 0&B TA"!"!. 7&0T8
O%NECTI:ES,
On The No& Training *ONT+ gives a practical exposure and helps in ac6uiring the
on road s7ills)
To 7no the consumer &ehaviour in investing their money in mar7ets)
To 7no the caps preferences of consumer
To collect data on consumers preferences on e6uity mar7ets)
To gain the complete 7noledge a&out the products of (arvy)
To generate the leads through the survey)
To &uild the relation ship ith the ne customers and to follo up them' ma7e
sure that they are satisfied ith the product)
To maintain good relationship ith the corporate employees)
To introduce (arvy to those people ho don>t have any 7noledge a&out (arvy
and its products and services)
To find out the customer aareness on &ooming financial mar7et and to find out
the investment patterns of the people)
To ma7e the customer aare of the &enefits of the product and convince him to
open the account)
STR$TELIES,
Initially I folloed strategy of getting leads from the 6uestionnaires
hich I filled at the %an7s' offices' &ig shops etc) !ater on I collected leads from my
personal references) #y Company also helped me a lot &y giving leads) 8inally the
references hich I got from the existing customers helped me a lot)
TAS,S A!D TA.ETS ,
On the first day I have given the target of ./ lac7s of mutual funds' 3 lac7s of
insurance and to commodity accounts)
MBA-08
I have given &usiness of Rs)@'.B'/// of mutual funds' Rs).'3B'/// of Insurance
in these to months)
In my &ranch my mentor said to collect information and data&ase from the mar7et
&y distri&uting the company leaflets)
I have visited .B days in the mar7ets and temples in all the mar7ets' I have visited
most of the &usinessman in %hu&anesar and finally collected .B/ data &ase ho
are really interested in share mar7ets and #8s)
Then I have ma7e telephone calls to most of the customers and fix an appointment
ith them later I visit to them)
!I#IT$TIO-S,
Letting accurate response form the respondents due to their inherent pro&lems)
They may &e partial or refuse to cooperate)
#any of the people don>t find time to listen to the product features)
People don>t aare of (arvy consultant services)
Sample si<e is limited due to the limit period of allocated for survey)
CO-C!2SIO-,

#y ONT has given me a good experience in learning ho to sell a product'
ho to deal ith the customers' ho satisfy an un satisfied customer' ho to generate
leads' ho to maintain relation ith the existing customers' ho to get the references
from the existing customers) I have learnt the convincing and persuasive s7ills in my
ONT) Initially I have faced some hurdles in the &eginning of the project to get the leads'
&ut later on I could coup ith the pro&lems and I am a&le to get more 7noledge a&out
the financial mar7ets insurances' mutual funds' stoc7 &ro7ing and IPO>s)
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MBA-08
SH$RE
#$R(ET
S
#2T2$!
82-"S
T&
)HA*T+R,-.
I/TROD0)TIO/
MUTUAL'U!DS:
Investing in India or any foreign mar7et may feel li7e a foolGs errand if one has no much
mar7et expertise to &ac7 up purchases) #utual funds come to the rescue' alloing
investors the opportunity to profit from India ithout in?depth 7noledge of the Indian
mar7et) 9ith a mutual fund from India' investors can pool their money ith that of others
and &enefit from the mar7et and investing expertise of a professional manager) $ mutual
fund is a common pool of money in to hich investors ith common investment
o&jective place their contri&utions that are to &e invested in accordance ith the stated
investment o&jective of the scheme) The investment manager ould invest the money
collected from the investor in to assets that are defined4 permitted &y the stated o&jective
of the scheme) 8or example' an e6uity fund ould invest e6uity and e6uity related
instruments and a de&t fund ould invest in &onds' de&entures' gilts etc) 2nit Trust of
India is the first #utual 8und set up under a separate act' 2TI $ct in .51K' and started its
operations in .51D ith the issue of units under the scheme 2S?1D) This pooled income is
professionally managed on &ehalf of the unit?holders' and each investor holds a
proportion of the portfolio i)e) entitled not only to profits hen the securities are sold' &ut
also su&ject to any losses in value as ell)
Concept,
To state in simple ords' a mutual fund collects the savings from small
investors' invests them in Lovernment and other corporate securities and earn income
through interests and dividends' &esides the capital gain) It or7s on the principle of Q
small drop ater ma7es a &ig ocean>) Hence' it is nothing &ut a collective investment) It
is formed &y coming together of a num&er of investors ho transfer their surplus funds to
a professionally 6ualified organi<ation to manage it)
To get the surplus funds from the investors' the fund adopts a simple techni6ue) Each
fund is divide into a small fraction called Qunits> of e6ual value) Each investor is allocated
units in proportion to the si<e of his investment) Thus every investor' hether &ig or
small' ill have a sta7e in the fund and can enjoy the ide portfolio of the investment
MBA-08
held &y the fund) Hence mutual funds ena&le millions of small and large investors to
participate in and derive the &enefits of the capital mar7et groth) It has emerged as a
popular vehicle of creation of ealth due to high return' loer cost and diversified ris7)
The flo chart &elo descri&es &roadly the or7ing of a mutual fund)
The Securities and Exchange %oard Of India *#utual 8unds+ Regulation' .55K
defines a mutual fund as I a fund esta&lished in the form of trust &y a sponsor' to raise
monies &y the trustees through the sale of units to the pu&lic' under one or more schemes'
for investing in securities in accordance ith these regulationJ)
$ #utual 8und is a trust that pools the savings of a num&er of investors ho share a
common financial goal) The money thus collected is then invested in capital mar7et
instruments such as shares' de&entures and other securities) The income earned through
these investments and the capital appreciation realised are shared &y its unit holders in
proportion to the num&er of units oned &y them) Thus a #utual 8und is the most
suita&le investment for the common man as it offers an opportunity to invest in a
diversified' professionally managed &as7et of securities at a relatively lo cost) The flo
chart &elo descri&es &roadly the or7ing of a mutual fund= $ mutual fund is set up in
the form of a trust' hich has sponsor' trustees' asset #anagement Company *$#C+ and
custodian) The trust is esta&lished &y a sponsor or more than one sponsor ho is li7e
promoter of a company)
The trustees of the mutual fund hold its property for the &enefit of the unit holders) $sset
#anagement Company *$#C+ approved &y SE%I manages the funds &y ma7ing
investments in various types of securities) Custodian' ho is registered ith SE%I' holds
the securities of various schemes of the fund in its custody) The trustees are vested ith
the general poer of superintendence and direction over $#C) They monitor the
performance and compliance of SE%I Regulations &y the mutual fund)
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T$PES &' MUTUAL 'U!D SC1EMES
There are ide variety of #utual 8und Schemes exist to cater to the needs such as
financial position' ris7 tolerance and return expectations etc) generally these are the three
main schemes of mutual funds) These are given &elo,
*$+ %y Structure
Open?Ended Schemes
Close?Ended Schemes
Interval Schemes
*%+ %y Investment O&jectives
Lroth Schemes
Income Schemes
%alanced Schemes
#oney #ar7et Schemes
*C+ %y Other Schemes
Tax Saving Schemes
Special Schemes
Index Schemes
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Sector Specific Schemes
#utual 8und is a type of collective investment method &y hich many people pool their
money in a fund and invest in various securities li7e stoc7' &onds or cash investments)
Every mutual fund has a fund manager or investment advisor so it is also called as
managed funds) In orld>s top stoc7 mar7ets collective investments holds a major share
&ecause of its flexi&ility) "epends on the o&jective of the funds li7e long term groth and
lo ris7 factor or high income groth ith high ris7 factor or lo groth rate and
sta&ility of principal' fund manager invests in respective fields on &ehalf of shareholders)
8or individual investors it is very easy type of investment &ecause someone else manage
their funds' ta7e care of accounts and invest money over many different availa&le
securities)
&4en/End 'und:
$n open?end fund is the most common variety of mutual fund) %oth existing and ne
investors may add any amount of money they ant to the fund) In other ords' there is
no limit to the num&er of shares in the fund) Investors &uy and sell shares usually &y
dealing directly ith the fund company' not ith any exchange) The price fluctuates in
response to the value of the investments made &y the fund' &ut the fund company values
the shares on its on= investor sentiment a&out the fund is not considered) Open?end
funds 7eep some portion of their assets in short?term and money mar7et securities to
provide availa&le funds for redemptions) $ large portion of most open mutual funds is
invested in highly li6uid securities' hich ena&les the fund to raise money &y selling
securities at prices very close to those used for valuations)
C)osed/End 'und:
$ closed?end fund loo7s much li7e a stoc7 of a pu&licly traded company, itGs traded on
some stoc7 exchange' you &uy or sell shares in the fund through a &ro7er just li7e a stoc7
*including paying a commission+' the price fluctuates in response to the fundGs
performance and *very important+ hat people are illing to pay for it) $lso li7e a
pu&licly traded company' only a fixed num&er of shares are availa&le) These funds have a
stipulated maturity period generally ranging from K to .B years) The fund is open for
MBA-08
su&scriptiRon only during a specified period) Investors can invest in the scheme at the
time of the initial pu&lic issue and thereafter they can &uy or sell the units of the scheme
on the stoc7 exchanges here they are listed) The mar7et price of closed?end funds is
determined &y supply and demand and not &y net?asset value *-$:+' as is the case in
open?end funds) 2sually close ended mutual funds trade at discounts to their underlying
asset value)
Benefits of &4en/ended 'unds and C)ose Ended 'unds:
!i6uidity In open?ended mutual funds' you can redeem all or part of your units any time
you ish) Some schemes do have a loc7?in period here an investor cannot return the
units until the completion of such a loc7?in period) Convenience an investor can purchase
or sell fund units directly from a fund' through a &ro7er or a financial planner) The
investor may opt for a Systematic Investment Plan *ISIPJ+ or a Systematic 9ithdraal
$dvantage Plan *IS9$PJ+) In addition to this an investor receives account statements
and portfolios of the schemes) 8lexi&ility #utual 8unds offering multiple schemes allo
investors to sitch easily &eteen various schemes) This flexi&ility gives the investor a
convenient ay to change the mix of his portfolio over time)
Transparency Open?ended mutual funds disclose their -et $sset :alue *I-$:J+ daily and
the entire portfolio monthly) This level of transparency' here the investor himself sees
the underlying assets &ought ith his money' is unmatched &y any other financial
instrument) Thus the investor is in the 7no of the 6uality of the portfolio and can invest
further or redeem depending on the 7ind of the portfolio that has &een constructed &y the
investment manager)
In Close Ended funds the &enefits is that one can save his money for long time and if the
mar7et dons some times the money he can ithdra later and constant in a fund for a
longer period of time also give more profit)
.ro6th 'unds:
The aim of groth funds is to provide capital appreciation over the medium to long term)
Such schemes normally invest a majority of their corpus in e6uities) Lroth schemes are
MBA-08
ideal for investors ho have a long?term outloo7 and are see7ing groth over a period of
time)
"ncome 'unds
The aim of Income 8unds is to provide regular and steady income to investors) Such
schemes generally invest in fixed income securities such as &onds' corporate de&entures
and Lovernment securities) Income 8unds are ideal for capital sta&ility and regular
income) Capital appreciation in such funds may &e limited' though ris7s are typically
loer than that in a groth fund)
Ba)anced 'unds
The aim of %alanced 8unds is to provide &oth groth and regular income) Such schemes
periodically distri&ute a part of their earning and invest &oth in e6uities and fixed income
securities in the proportion indicated in their offer documents) This proportion affects the
ris7s and the returns associated ith the &alanced fund ? in case e6uities are allocated a
higher proportion' investors ould &e exposed to ris7s similar to that of the e6uity
mar7et) %alanced funds ith e6ual allocation to e6uities and fixed income securities are
ideal for investors loo7ing for a com&ination of income and moderate groth)
Mone% Mar3et 'unds
The aim of #oney #ar7et 8unds is to provide easy li6uidity' preservation of capital and
moderate income) These schemes generally invest in safer short?term instruments such as
Treasury %ills' Certificates of "eposit' Commercial Paper and Inter?%an7 Call #oney)
Returns on these schemes may fluctuate depending upon the interest rates prevailing in
the mar7et) These are ideal for corporate and individual investors as a means to par7 their
surplus funds for short periods)
Ta9 Sa2ing Schemes
These schemes offer tax re&ates to the investors under specific provisions of the Indian
Income Tax las' as the Lovernment offers tax incentives for investment in specified
avenues) Investments made in E6uity !in7ed Savings Schemes *E!SS+ and Pension
Schemes are alloed as deduction under Section @@ of the Indian Income Tax $ct' .51.)
"nde9 Schemes
MBA-08
Index 8unds attempt to replicate the performance of a particular index such as the %SE
Sensex or the -SE SHP C-M B/)
Sectora) Schemes
Sectoral 8unds are those hich invest exclusively in specified sector*s+ such as 8#CL'
Information Technology' Pharmaceuticals' etc) These schemes carry higher ris7 as
compared to general e6uity schemes as the portfolio is less diversified' i)e) restricted to
specific sectors 4 industries)
!et Asset #a)ue
This is per share amount of total fund>s value) To calculate the -$: first add current
mar7et values of all assets and divide it &y the num&er of shares) In stoc7s prices change
in every second &ut -$: is calculated in a daily &asis)
E:uit% 'unds
#utual funds invest in stoc7 mar7et are called e6uity funds or stoc7 funds) E6uity funds
can again divided in to many categories
.ro6th 'unds
In this funds ill &e invested in companies ith high groth potential for a long term
capital appreciation) Lroth funds are more volatile to mar7et ris7s)
"ncome 'unds
Invest in companies ith high dividend payouts providing safety and regular income)
B)end 'unds
It is a mixture of Lroth and Income funds to provide long term capital appreciation and
current income) %y ris7?ise it is in &eteen groth funds and income funds
Sma))/Ca4, Mid/Ca4 and Large/Ca4 'unds
In stoc7 mar7et companies are divided in to many groups according to their mar7et
capitali<ation li7e large?cap' mid?cap and small?cap companies) #ar7et Capitali<ation is
one ay of measuring the si<e of the company and is decided &y the num&er of shares in
the mar7et and value per share) #utual funds are also categori<ed li7e this &ased on the
share they hold)
MBA-08
The history of mutual fund in India can &e divided into 3 important phases,
A .51K?.5@0, The 2nit Trust of India as the sole player in the industry) Created &y an
$ct of Parliament in .51K' 2TI launched its first product' the unit scheme .51D' hich is
even today the single largest mutual fund scheme) 2TI created a num&er products such as
monthly income plans' childrenGs plans' e6uity?Oriented schemes and offshore funds
during this period) 2TI managed assets of Rs 10// crore at the end of this phase)
B .5@0?.55K, In .5@0 pu&lic sector &an7s and financial institutions entered the mutual
fund industry) S%I mutual fund as the first non?2TI fund to &e set up in .5@0)
Significant shift of investors from deposits to mutual fund industry happened during this
period) #ost funds ere groth oriented closed ended funds) %y the end of this period'
assets under 2TIGs management gre to Rs K@3D0 crore and pu&lic sector funds managed
Rs @0B/ crore) )
Mutua) 'und Ser2ices:
They have attained a position of immense strength as a provider
of across?the?&oard transfer agency services to $#Cs' "istri&utors and Investors) -early
D/F of the top?notch $#Cs including prestigious clients li7e "eutsche $#C and 2TI
sear &y the 6uality and range of services that e offer) %esides providing the entire &ac7
office processing' they provide the lin7 &eteen various #utual 8unds and the investor'
including services to the distri&utor' the prime channel in this operation) Carrying the
QlimitlessG ideology forard' they have explored ne dimensions in every aspect of
#utual 8und servicing right from volume management' cost effective pricing' delivery in
the least turnaround time' efficient &ac7?office and front?office operations to customi<ed
service) 9e have &een ith the $#Cs every step of the ay' helping them serve their
investors &etter &y offering them a diverse and customi<ed range of services) The Qfirst to
MBA-08
mar7etG approach that is our anthem has earned us the reputation of an innovative service
provider ith a visionary &ent of mind)
T%e s"%emati" diagram s%o$ing mutual und "lassii"ation1
MBA-08
%$SE" O- THEIR
STR2CT2RE
%$SE" O- THEIR
I-:EST#E-T O%NECTI:E
I-"EM 82-"S
#
2
T
2
$
!
8
2
-
"
S
%$!$-CE" 82-"S
C!OSE?E-"E"
82-"S
8!O$TI-L R$TE 82-"S
EO2IT; 82-"S OPE-?E-"E"
82-"S
"E%T 82-"S
"E%T ORIE-TE" 82-"S
LI!T 82-"S
!IO2I" 82-"S
8#Ps
SECTOR 82-"S
I-CO#E 82-"S
EO2IT; ORIE-TE" 82-"S
E!SS
THE#$TIC 82-"S
EO2IT; "I:ERSI8IE" 82-"S
"I:I"E-T ;EI!" 82-"S

Strategies that one can use hile investing in mutual funds,
These are three types,
Systematic Investment Plan *SIP+,? This investment plan ma7ing investment in
fixed amounts in a particular scheme' at a predetermined periodical interval time)
Systematic ithdraal Plan *S9P+,? 9ith this plan' one can ithdra fixed sum
of money or a part of the appreciation from a particular scheme' at a
predetermined periodical interval of time)
Systematic transfer Plan *STP+,? This scheme helps one to transfer sum of money
from one scheme to another scheme of the same fund house at the predetermined
periodical intervals of time) One can either a fixed amount of money or only the
appreciation earned from the scheme the money as &eing transferred from)
B enefits of Mutua) 'unds:
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#IPs
$R%ITR$LE R$TE 82-"S
$fforda&ility, $ mutual fund invests in a portfolio of assets' i)e) &onds' shares' etc)
depending upon the investment o&jective of the scheme) $n investor can &uy in to
a portfolio of e6uities' hich ould otherise &e extremely expensive)
:ariety, #utual funds offer a tremendous variety of schemes) This variety is
&eneficial in to ays, first' it offers different types of schemes to investors ith
different needs and ris7 appetites= secondly' it offers an opportunity to an investor
to invest sums across a variety of schemes' &oth de&t and e6uity)
Professional #anagement, Oualified investment professionals ho see7 to
maximi<e returns and minimi<e ris7 monitor investorGs money) 9hen you &uy in
to a mutual fund' you are handing your money to an investment professional ho
has experience in ma7ing investment decisions)
Tax %enefits, $ny income distri&uted after #arch K.' 3//3 ill &e su&ject to tax
in the assessment of all 2nit holders) Hoever' as a measure of concession to
2nit holders of open?ended e6uity?oriented funds' income distri&utions for the
year ending #arch K.' 3//K' ill &e taxed at a confessional rate of ./)BF)
"ifferent investment avenues are availa&le to investors) #utual funds also offer good
investment opportunities to the investors) !i7e all investments' they also carry certain ris7s)
The investors should compare the ris7s and expected yields after adjustment of tax on various
instruments hile ta7ing investment decisions) The investors may see7 advice from experts
and consultants including agents and distri&utors of mutual funds schemes hile ma7ing
investment decisions)
9ith an o&jective to ma7e the investors aare of functioning of mutual funds' an attempt
has &een made to provide information in 6uestion?anser format hich may help the
investors in ta7ing investment decision)
STOC( EMCH$-LES,
It is also called stoc7 mar7et or the share mar7et)
$ stoc7 exchange' share mar7et or &ourse is a corporation or mutual organi<ation hich
provides facilities for stoc7 &ro7ers and traders' to trade company stoc7s and other
MBA-08
securities) Stoc7 exchanges also provide facilities for the issue and redemption of
securities' as ell as' other financial instruments and capital events including the payment
of income and dividends) The securities traded on a stoc7 exchange include, shares issued
&y companies' unit trusts and other pooled investment products and &onds) To &e a&le to
trade a security on a certain stoc7 exchange' it has to &e listed there) 2sually there is a
central location at least for record7eeping' &ut trade is less and less lin7ed to such a
physical place' as modern mar7ets are electronic netor7s' hich gives them advantages
of speed and cost of transactions) Trade on an exchange is &y mem&ers only) The initial
offering of stoc7s and &onds to investors is &y definition done in the primary mar7et and
su&se6uent trading is done in the secondary mar7et) $ stoc7 exchange is often the most
important component of a stoc7 mar7et) Supply and demand in stoc7 mar7ets are driven
&y various factors hich' as in all free mar7ets' affect the price of stoc7s) There is usually
no compulsion to issue stoc7 via the stoc7 exchange itself' nor must stoc7 &e
su&se6uently traded on the exchange) Such trading is said to &e off exchange or over?the?
counter) This is the usual ay that &onds are traded) Increasingly' stoc7 exchanges are
part of a glo&al mar7et for securities) The stoc7 exchange is controlled &y the SE%I) It
ma7es rules and regulations for all the stoc7 exchanges) So e can say stoc7 exchange,
$ place here stoc7s' &onds' or other securities are &ought and sold)
$n association of stoc7&ro7ers ho meet to &uy and sell stoc7s and &onds
according to fixed regulations)
$ stoc7 exchange is a forum for trading in securities representing shares of firms) $n
exchange provides ays &y hich financing is raised &y the sale of shares to outside
investors) It provides a mechanism for the valuation of companies through the process of
price discovery and a means &y hich such information is disseminated) The first stoc7
exchange in India' %om&ay Stoc7 Exchange as esta&lished in .@0B as GThe -ative
Share and Stoc7&ro7ers $ssociationG and has evolved over the years into its present status
as the premier stoc7 exchange in the country) It may &e noted that %SE is the oldest stoc7
exchange in $sia' even older than the To7yo Stoc7 Exchange' hich as founded in
.@0@) The countryGs second stoc7 exchange as esta&lished in $hmeda&ad in .@5D'
folloed &y the Calcutta Stoc7 Exchange *CSE+) CSE can also trace its origin &ac7 to
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.5th century) 8rom a get together under a G-eem treeG ay &ac7 in the .@K/s' the CSE
as formally esta&lished in #ay .5/@) IndiaGs other major stoc7 exchange -ational Stoc7
Exchange *-SE+' promoted &y leading financial institutions' and as esta&lished in $pril
.55K) Over the years' several stoc7 exchanges have &een esta&lished in the major cities of
India) There are no 3K recogni<ed stoc7 exchanges Stoday' most of the glo&al stoc7
exchanges have &ecome highly efficient' computeri<ed organi<ations) Computeri<ed
netor7s also made it possi&le to connect to each other and have developed the groth of
a glo&al stoc7 exchanges mar7et)
%asically the a&ove products are dealing &y (arvy) %ut in %urra&a<ar (arvy stoc7
&ro7ing is the main domain &usiness) In this stoc7 &ro7ing they deal ith mutual funds'
insurance' IPO>s' on line trading and "P etc) Organi<ed mar7etplace in hich stoc7s'
Common Stoc7 E6uivalents and &onds are traded &y mem&ers of the exchange' acting
&oth as agents *&ro7ers+ and as principals *dealers or traders+) #ost exchanges have a
physical location here &ro7ers and dealers meet to execute orders from institutional and
individual investors to &uy and sell securities) Each exchange sets its on re6uirements
for mem&ership= the -e ;or7 Stoc7 Exchange has the most stringent re6uirements)
The mar7et in hich shares are issued and traded either exchanges or over?the?counter
mar7ets) $lso 7non as the e6uity mar7et' it is one of the most vital areas of a mar7et
economy as it provides companies ith access to capital and investors ith a slice of
onership in the company and the potential of gains &ased on the companyGs future
performance) This mar7et can &e split into to main sections, the primary and secondary
mar7et) The primary mar7et is here ne issues are first offered' ith any su&se6uent
trading going on in the secondary mar7et)
Investors are generally not given free access to trading systems) Entry into the exchangeGs
systems are intermediated &y &ro7ers) %ro7ers may simply route orders to exchanges)
They sometimes ma7e decisions as to hat exchange' and hat system ithin the
exchange' should process various parts of an order) In open outcry mar7ets' &ro7ers also
physically represent orders on the floor of the exchange) Exchanges are differentiated
most &y a class of intermediaries 7non as mar7et ma7ers) #ar7et ma7ers trade for their
on accounts' usually providing an offer to sell and an offer to &uy at the same time' &ut
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at different prices) In doing so' they &oth contri&ute to the pricing process and supply
immediacy to the mar7et &y a illingness to &e counterparty to an order for hich
another investor may not &e immediately availa&le) On some exchanges' most nota&ly the
-SE' there is one primary mar7et ma7er designated &y the exchange' 7non as the
specialist) The specialist o&tains consideration for the supply of immediacy and the
maintenance of an orderly mar7et &y having private access to order?flo information
through the order &oo7 for the stoc7) There may &e multiple mar7et ma7ers in a given
stoc7' regardless of the precise form of trading system) The prototype example is that of
dealer mar7ets' in hich the dealers are the mar7et ma7ers) They post &ids and offers'
and trade out of their on inventory)
Exchanges have to clienteles, companies' hich list their shares' and investors' ho
trade on the exchange) Historically' the product *a listing+ offered to companies as a
&undle' consisting of*.+ li6uidity' *3+ monitoring of trading against forms of fraud' *K+
standard?form rules of trading' *D+ a signal that a listing firmGs stoc7 is of high 6uality'
and *B+ a clearing function to ensure timely payment and delivery of shares )The product
offered to investors consists of a com&ination of li6uidity and pricing information' as ell
as any &enefits accruing to the investor from the &undle offered to companies)
The approach ta7en here is to identify important attri&utes and functions of institutions
satisfying the &asic definition in practice) Exchanges provide trading systems and may
offer more than one) Types of trading systems are sometimes differentiated &y the form of
mar7et intermediation provided &y entities ith direct access to the system) The nature of
competition &eteen exchanges is a defining feature' since exchanges may adopt varying
mar7et structures in order to compete in different fashions) $ stoc7 exchange is a &usiness
entity' and the form of its governance arrangements is important in understanding its
nature and conduct)
Trading Systems,
Trading mar7ets may &e defined as systems consisting of an order routing system' an
information netor7' and a trade execution mechanism *Stoll' .553+) $ trading system is
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a communications technology for passing alloa&le messages &eteen traders' together
ith a set of rules that transform tradersG messages into transactions prices and allocations
of 6uantities of stoc7 among mar7et participants)
The nature of alloa&le messages varies ith the exchangeGs rules and technology) $
typical message consists of an offer to &uy' or to sell' a given num&er of shares at a
certain price) The -SE' for example' permits such messages' as ell as orders' to &uy
some amount of stoc7 at current mar7et prices) The Opti#ar7 system of the Pacific Stoc7
Exchange also allos traders to su&mit a message indicating the strength of the tradersG
desire to transact an amount of stoc7 at a particular price) Orders for the shares of a
company' contingent on the completion of transactions in other companies' are possi&le)
$s technology advances' the a&ility of trading systems to offer more flexi&le messages
increases) Online Trading can ma7e investing 6uic7 and easy' ith a clic7 of mouse= one
can &uy and sell stoc7s from more than .// online trading companies offering this
facility) #any online trading companies offer special deals hen signing up an account'
li7e a certain num&er of free online trades) Chec7 the a&ility of your online trading
company to get the &est price for investors) #ost online trading firms provide this
information on their e&site) $lthough online trading saves investors time and money' it
does not ta7e the homeor7 out of ma7ing investment decisions) ;ou may &e a&le to
ma7e a trade in a nanosecond' &ut ma7ing ise investment decisions ta7es time) %efore
you trade' 7no hy you are &uying or selling' and the ris7 of your investment)
The money that a company raises in this ay is called e6uity capital) 2nli7e de&t capital'
hich is &orroed money' e6uity capital does not need to &e repaid as it represents
continuous onership Of the Company) In return for investing in the company'
shareholders can receive dividends and other &enefits) Shares that have &een issued to
investors &y a listed company can &e sold to other investors on the share mar7et) In this
ay' shareholders can reali<e capital gains if the share price has risen C in other ords'
ma7e a profit &y selling their shares for more than they paid for them)
#ar7ets such as shares and property move in cycles) #any investors fall into the trap of
putting all their money into one asset class Cusually at its pea7' and then atch as another
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asset class ta7es off ithout them )It is &etter to diversify' spreading your ris7' and enjoy
the upturns in mar7ets)

I-ITI$! P2%!IC O88ERI-LS *IPO>s+,
$n Initial Pu&lic Offer *IPO+ is the selling of securities to the pu&lic in the primary
mar7et) It is hen an unlisted company ma7es either a fresh issue of securities or an offer
for sale of its existing securities or &oth for the first time to the pu&lic) This paves ay for
listing and trading of the issuer>s securities) The sale of securities can &e either through
&oo7 &uilding or through normal pu&lic issue)
Indian primary mar7et ushered in an era of free pricing in .553) 8olloing this' the
guidelines have provided that the issuer in consultation ith #erchant %an7er shall
decide the price) There is no price formula stipulated &y SE%I) SE%I does not play any
role in price fixation) The company and merchant &an7er are hoever re6uired to give
full disclosures of the parameters hich they had considered hile deciding the issue
price) There are to types of issues' one here company and !ead #erchant %an7er fix a
price *called fixed price+ and other' here the company and the !ead #anager *!#+
stipulate a floor price or a price &and and leave it to mar7et forces to determine the final
price *price discovery through &oo7 &uilding process+) %oo7 %uilding is &asically a
process used in IPO>s for efficient price discovery) It is a mechanism here' during the
period for hich the IPO is open' &ids are collected from investors at various prices'
hich are a&ove or e6ual to the floor price) The offer price is determined after the &id
closing date) Price at hich securities ill &e allotted is not 7non in case of offer of
shares through %oo7 %uilding hile in case of offer of shares through normal pu&lic
issue' price is 7non in advance to investor) 2nder %oo7 %uilding' investors &id for
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shares at the floor price or a&ove and after the closure of the &oo7 &uilding process the
price is determined for allotment of shares) In case of %oo7 %uilding' the demand can &e
7non everyday as the &oo7 is &eing &uilt) %ut in case of the pu&lic issue the demand is
7non at the close of the issue) In a %oo7 &uilding issue' the issuer is re6uired to indicate
either the price &and or a floor price in the prospectus) The actual discovered issue price
can &e any price in the price &and or any price a&ove the floor price) This issue price is
called ICut?Off PriceJ) The issuer and lead manager decides this after considering the
&oo7 and the investors> appetite for the stoc7)
The prospectus may contain either the floor price for the securities or a price &and ithin
hich the investors can &id) The spread &eteen the floor and the cap of the price &and
shall not &e more than 3/F) In other ords' it means that the cap should not &e more than
.3/F of the floor price) The price &and can have a revision and such a revision in the
price &and shall &e idely disseminated &y informing the stoc7 exchanges' &y issuing a
press release and also indicating the change on the relevant e&site and the terminals of
the trading mem&ers participating in the &oo7 &uilding process)
In case the price &and is revised' the &idding period shall &e extended for a further period
of three days' su&ject to the total &idding period not exceeding ten days) It may &e
understood that the regulatory mechanism does not play a role in setting the price for
issues) It is up to the company to decide on the price or the price &and' in consultation
ith #erchant %an7ers) $s per SE%I' only electronically lin7ed transparent facility is
alloed to &e used in case of &oo7 &uilding) The %asis of $llotment should &e completed
ith .B days from the issue close date) $s soon as the &asis of allotment is completed'
ithin 3 or7ing days the details of credit to demat account 4 allotment advice and
dispatch of refund order needs to &e completed) So an Investor should 7no in a&out .B
day>s time from the closure of issue' hether shares are allotted to him or not) These are
the &asic of IPO>s)
CAPS:
Caps hich refers to mar7et capitali<ation and is calculated &y multiplying the price of a
stoc7 &y the num&er of shares outstanding) Lenerally spea7ing' this represents the
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mar7etGs estimate of the PvalueP of the company= hoever' it should &e noted that hile
this is the common conception of mar7et capitali<ation' to calculate the total mar7et value
of a company' you actually need to add the mar7et value of any of the companyGs pu&licly
traded &onds) It is divided in to four categories) Such as'
!arge Cap4 %ig Cap
#id Cap
Small Cap
#icro Cap
Large Ca4 7Big Ca48:
Companies ith a mar7et capitali<ation &eteen T./ &illion and T3// &illion)
Mid ca4:
Companies having a mar7et capitali<ation &eteen T3 &illion and T./ &illion) Short form
of Pmiddle capP) $s the name implies' mid?cap companies are in the middle of the
pac7) #id caps arenGt too &ig' &ut they have a respecta&ly si<ed mar7et cap)
Sma)) Ca4:
Small?cap stoc7s are often cited as good investments due to their lo valuations and
potential to gro into &ig?cap stoc7s' &ut the definition of small cap has changed over
time) It is a company ith a mar7et capitali<ation of &eteen TK// million and T3 &illion)
Micro Ca4:
Companies ith mar7et capitali<ations &eteen TB/ million and TK// million)
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&b(ecti2e of the Stud%
esearch ;uestion
1%4othesis
esearch Design
Data Sources
Data Co))ection Procedure
esearch A44roaches
esearch "nstruments
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C+A$*'R),2
R'S'ARC+ !'*+O3OLO/&
)O/T+/TS
Sam4)ing Techni:ues
E2a)uation and Ana)%sis of data
Limitation during Sur2e%
e2ie6 of )iterature
In a country li7e India the present scenario dealing ith the &usiness' as e 7no after
3//3 India>s financial conditions have &een changed iden to a far) People came to 7no
a&out the financial mar7ets and invested huge num&er of amount in terms of money in it
and enjoyed the real &enefit) Indian companies> value is raising day &y day not only
Indian people &ut also foreigners are no ready to invest money in Indian mar7ets)
#ar7et fluctuation is there in share mar7ets so it is very necessary to 7no the consumer
&ehaviour regarding investment in different financial products) The consultancy firms are
enjoying success providing service to customers in their investment decisions) It is there
&y necessary to 7no the customer satisfaction' their &ehaviour regarding investment
their attitude toards different financial products)
The realisation that this is a serious su&ject is' hoever' &arely daning) $nalysts and
commentators seem to treat financial mar7ets' at least in the aggregate' in much the same
ay as the early industrial engineers dealt ith management itself, a rational su&ject
amena&le to statistical o&servation' measurement and prediction) $nd yet' in every
discussion of the ups and dons of the stoc7s and &onds mar7ets' the factor called
UsentimentG figures prominently) This is a U&lac7 &oxG hich is contrasted ith the forces
of technical analysis' study of the corporate performance fundamentals' an UirrationalG
irritant' a counter?mechanism preventing mar7ets from operation in their natural'
efficient?mar7ets hypothesis mode)
There is nonetheless more to this factor of saver preference than meets the eye) $ rich
vein of research aaits sophisticated understanding of ho investors &ehave as
individuals as ell as a congruent collective similar to a consumer su&?segment)
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-aturally' interpreting U&uyer?&ehaviourG in the area of say' mutual funds or IPOs' is one
field that demands a deep colla&oration &eteen the to sets of professions ith
orientations that till no might have &een seen as mutually opposing) 8inance experts see
themselves almost li7e Uhard scientistsG hile the &rand management and advertising
fraternities are seen as Usoft' touchy?feelyG people) Sometimes' one onders if the 7ind of
&readth of vision and depth of cross?disciplinary insights that this calls for can actually &e
found in the same individual)
$nd yet there is no gainsaying the fact that the UconsumerG of such financial instruments'
i)e) the retail investor' is in dire need of help) To &egin ith' she has &een spoilt &y
decades of assured returns as high as .D?.B per cent from PS2 de&t and other corporate
paper) She is a total stranger to the very notion of reard &eing proportional to ris7)
The householder?investor ith a fe rupees left over after paying for housing and to?
heeler installments is pu<<led as to here he may par7 funds safely' given the volatility
of the mar7et) He is 6uite scared &y all the tal7 of %lac7 #ondays and &lood&aths' not to
mention the arcane language of T: chatterati) *Ho do you see the mid?cap story going
forardV Ho much upside is left and hat donside strategies should &e put in placeV
$nd so onW+ He is very much at sea hen faced ith the voluminous application forms
and the fancy terminology ? exactly as he used to &e ith the U&lade companiesG offering
3/ per cent annual returns some years ago)
8or a start' the &randing of the products is completely eird and confusing ith the result
that one does not 7no hat one is &uying) U"ynamic' groth H value' half?yearly
dividend' dividend reinvest4payout schemeG and such' to 6uote a hypothetical example'
need a glossary &efore one can decipher hat it all means)
There is no standardisation of terminology) #onthly Income Plan does not alays mean
hat you thin7 it does' unless it says Udividend payout)G In some cases of the so called
unit?lin7ed plan' you donGt even come to 7no that as much as K/ to D/ per cent of your
capital may not &e invested at all' &ut ta7en aay' at the front end as expenses) This is the
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free mar7et *or free?for?all mar7etV+ ith a vengeance' and caveat em"tor raised to ne
levels)
In India' the first &oom phase came in the primary e6uity mar7et' hen pu&lic issue stoc7
prices ere laid don &y an official) It as the em&ryonic stage of the e6uity mar7et'
triggered &y the dilution of the foreign e6uity under the 8ER$ regulations= and the ne
pu&lic issues that accompanied the groth phase of the mini?li&erali<ation that &egan
a&out .5@D) The e6uity revolution really &egan to &e felt only in the last decade although
huge scams and scandals immediately folloed it' from .553 onards) The retail stoc7
and #8 investor population has &een groing and inevita&ly so' for another reason'
namely' the falling rates of interest from &an7 and corporate de&t hich many a middle?
class salaried person and pensioner used to depend on till some five to seven years ago)
Today' than7s to the heightened aareness and pu&lic de&ate in &oth the press and on T:'
the tragic state of the real interest rates *simply put' interest adjusted for expected
inflation rate+ is &eginning to &e fully appreciated) In other ords' e are facing a certain
erosion of the value of oneGs lifetime savings in short order unless one ta7es the plunge
into the open mar7et and &uilds up a portfolio of investments)
The truth of the matter is that the average Indian investor is a greenhorn hen it comes to
financial mar7ets) The causes are many, the lac7 of opportunity' lac7 of conceptual
understanding and the influence of a fixed?income orientation in the Indian culture'
hich even applied to the trader category that operate stoc7ist ships and shorooms for
the &ig &rand name companies) Their minimum expectation is that the familyGs running
expenses ought to &e assured &y a revenue stream that has little ris7 attached to it) In this
he is no different from the salaried employee)
The effects are that the ur&an' educated' hite?collar employee ith a fe la7hs orth of
savings has &een a sitting duc7 for a succession of adventurers to ta7e pot shots at) In
other ords' the same family or person ho is at the core of the informed &uyer segment
for household products and appliances' cars' to?heelers and so on is hopelessly lost
hen it comes to choosing amongst' say' mutual fund types and options)
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Elsehere in the orld' the salaried personGs savings are most often deposited in mutual
funds' either directly or via pension funds) The theory &ehind this is that &y pooling
together a huge aggregation of individual savings and investing them' using the
professional judgment of the fund manager' one spreads ris7' ta7es advantage of volume
&uying and scientific data analysis' expertise and so on) Therefore it is seen as the ideal
option for the individual ho does not have the time' 7noledge or experience to ma7e a
succession of judgments involving his hard?earned savings)
In India' one is at &est at the mercy of the &ro7er?friend?advisor netor7) -ot that it is
alays unhelpful' &ut the individual investorGs on situation and ris7 preference are
matters that he should &e a&le to articulate and then apply to an investment strategy that
com&ines the usual four, cash and e6uivalents' Lovernment?&ac7ed &onds' de&t' and
e6uity) The catch is that as fe have the capa&ility to do the dynamic juggling amongst
the four on their on' they need the help of a relatively lo?cost' lo?ris7 selection of
mutual funds) This re6uires a level of professional advisory hich is not readily availa&le
today) !argely it is a case of the &lind &eing led &y those ith partial sight' at &est)
The individual &uyerGs decision?ma7ing process is left far &ehind) It is time this is
remedied)
Mutua) funds are a 2iab)e )ong/term sa2ing 2ehic)e
The landscape of the mutual fund industry has undergone significant changes since the
esta&lishment of the 2nit Trust of India in .51D' hich for decades held the monopoly)
%y the mid .55/s' &arriers to entry ere gradually dismantled' alloing domestic and
foreign private institutions to enter the fray) $ssets under management have gron to
around 2S" @@ &n in $pril 3//0' nearly ./F of L"P' 6uadrupling in value since .55K)
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Asset Under Management, in bi))ion <
$t its current groth rate' the sector>s si<e ill dou&le over the next ./ years) 9ith
intense competition came the adoption of measures to improve transparency) Restrictions
on investment in de&t instruments and money mar7ets ere loosened) $ num&er of
different schemes are no availa&le in the mar7et' hich appeals to investors> varying
investment o&jectives and constraints) The listing of open ended schemes alloed
investors the flexi&ility to adjust their fund exposures' hile regulations against fund
managers> use of derivatives have &een relaxed' alloing them to hedge their positions)
Liven the rapid groth of the industry in the past K years' can the Indian mutual fund
industry &e characteri<ed as having come of ageV
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-ot at all hen seen in the light of the lo share of mutual funds in the household
sector>s total investment pie' i)e) is only B)BF)
Statement O4 *he $ro5lem6)
#utual funds are the saving instruments) %ooming stoc7 mar7et have put the Indian
mutual fund industry on a turnaround) 8und managers declaring the -$: in the recent
past and easing of interest rates in &an7ing and corporate sector have forced the retail
investors to ta7e a second loo7 at the industry that had once &een given up for the dead)
This study also gains the importance from changing regulatory norms' &udgetary support
and the change in the approach of fund managers to em&race professional and aggressive
fund management) Hence' ith the a&ove outloo7' an attempt has &een made to study the
investment management' the investment pattern and the investors financial &ehaviour
ith special reference to #utual 8unds as still such lo penetration is there in this
particular field)
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&b(ecti2e of the Stud%
To 7no the consumer &ehaviour' preferences and opinions a&out the financial
products and their investment paten indifferent sectors)
To study the aareness a&out (arvy consultancy ltd) and its different products)
esearch ;uestion:
9hich is the or7 of a financial consultancy firmV
9hat are the most attractive features in financial mar7ets that attract a huge
num&er of people toards itV
9hy people invest in financial mar7ets hile there is more ris7 in getting returnV
9hat are the &enefits they get from investment in financial sectorsV
$re the people aare a&out (arvy consultancy !td and its different productsV
1%4othesis:
Investment in share mar7ets is mostly li7e &y investors than other investments)
Consumer &ehaviour regarding investment in different caps)
#utual 8unds are popular in Indian mar7ets except investment in share mar7ets)
#ost of the people investing in different mutual funds rather than insurance
products)
#ost of the people are &asically investing in share mar7ets in spite of mutual
funds)
esearch Design,
Research design is the &asic frameor7 hich provides the guidelines for the
rest of the research process after the pro&lem identification and setting o&jectives) It is the
&lue print according to hich research is going to &e conducted )It provides information
on the proposed research instrument' sample unit' sample si<e' sampling procedure and
contact method) I have used the descriptive research design here for a conclusive
analysis) "escriptive information provides a sound &asis for the solution of mar7eting
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pro&lems) So the descriptive study is planned carefully ith respect to the sources of
information consulted and the procedures used in collecting information)
Data Sources:
"ata source can &e external or internal) $n internal source includes previous
studies and company records) External sources include the trade maga<ines and &usiness
reports) The research design ill &e examined time and again to determine the accuracy
of data ith regards to their a&ility in meeting the information needs) $part from internal
and external sources our next step ill &e to collect ne data &y means of personal
intervies' focus group discussions and gathering data to meet the information needs ill
involve the interrogation consumers) The first step in data collection process is to loo7 for
the secondary data) These ere the data that ere developed for some purpose other than
for helping to solve the pro&lem at hand) #y secondary data ere collected from the
Ireport of (arvy>s 8inapolis and the e&site of (arvy !td and Other 9e&sites li7e
moneycontrol)com' valueresearch)com etc) The data that are still needed after the search
is completed ill have to &e developed specifically for the research project is 7non as
primary data )$n important source of primary data is survey research) #y primary data
ere collected through a mar7et survey ith structured 6uestionnaire) $n exploratory of
this type needs to &e &ased on primary and secondary data that are readily availa&le) It
hardly implies a formal and right design as i have to change the focus or direction
depending on the availa&ility of ne ideas and relationship among varia&les)
Data Co))ection Procedure:
The first Phase ill involve a survey of consumers using a 6uestionnaire administered &y
personal intervie) The conclusion of the study is &ased on this survey) The secondary
phase ill &e &y discussion among the company people) In these to methods I am
collecting the data that needed for my project report)
Primary data source ???
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The data that is collected from the first hand information &y the ay of direct
intervie' o&servation and 6uestionnaire)
Secondary data source????
Collection of data from company people and 8inapolis)
esearch A44roaches:
The research approach as &ased on survey ith regard to #etro city (ol7ata to 7no
the consumers &ehaviour' vies' preferences and opinion a&out investments in different
financial products and in share mar7ets) It is the metro city I have covered some of the
places in (ol7ata)
esearch "nstruments:
The 6uestionnaires are prepared 7eeping in mind the o&jectives) There are many
6uestions regarding different investments' satisfaction level in investments to 7no the
customers vies' preferences and opinion a&out different financial products and its
&enefits) I used the structured 6uestionnaire through out the survey)
Sam4)ing Techni:ues:
Sample unit, Collection of data as done from respondents of (ol7ata city' those
ho are invested)
Sample si<e, The sample si<e chosen as .// units)
Sample #ethod, Simple Random sampling as used in study to get an un&iased
result and clear vie of mar7et)
Contact #ethods, $mong various contact methods I chose personal intervieing
method and In?depth intervieing method as it as &eneficial in extracting
additional information a&out the respondents) In (ol7ata I ent to different places
to choose respondents randomly for an intervie) )
Evaluation and $nalysis of data,
The information collected through personal intervie on the &asis of the 6uestionnaires
used during survey 'ere ta&ulated and plotted through graphs and pie charts to
MBA-08
represents the findings in a &etter ay) The analysis as done &y calculating the each
6uestionnaire out of .//) Then the resulted as plotted through graphs i)e) pie charts
ere prepared)
Limitation during Sur2e%:
It as 6uite un&alancing for me hen I intervieed people) The difficulties I faced in
doing so are C
#ost respondents ere didn>t li7e to spent time in filling the 6uestionnaire as it
as immaterial to them)
#any people I approached refused to aste their valua&le time)
Some Insured didn>t 7no the policy they had' though a fe recalled the name of
the Insurers)
$ fe people 7no in detail a&out the caps)
The most of the ansers given &y the respondent didn>t &ase on their 7noledge
&ut their feelings toards the &rand name of the company and &enefits get &y
those products previously as they are not very much aare of all the criteria of
investment in different products)
Revie7 o4 literature6
I have referred these folloing &oo7s for my o&jective) 8rom these &oo7s I have ac6uired
some of the &asic ideas regarding the consumer &ehaviour) Ho they react and hat are
their impressions and ho they &ehave hen they are faced upon the situation in the
mar7et) $nd especially this (otller &oo7 helped me much for my project)
#ar7eting #anagement? Philip (otller
Consumer %ehavior C S) () %atra
MBA-08
Consumer %ehavior C S Ramesh (umar
Consumer Insight C #) Stolen' $) %ond
Consumer %ehaviour C Suja and -air
Consumer &ehaviour C "ell I Ha7ins H other
8uture #ar7ets C Paramesaran
#ar7eting genius C Piter 8is7
I have used the concept of all the &oo7s in my project and I have got my project or7
smooth and perfectly)

In its %hu&anesar &ranch I as assigned my summer internship &y (arvy)
These are the &usiness deals in that &ranch)
MBA-08
MA,ET"!. C1A!!ELS &' '"!A!C"AL P&DUCTS B$ ,A#$:
This is the general process &y hich (arvy ma7es his &usiness in %hu&anesar &ranch)
Here (arvy is the &ro7er) It ta7es help of su& &ro7ers and P8E *personal financial
executives+ to regulate its &usiness)
MBA-08
CO##O"ITIES
CO##O"ITIES
"ISTRI%2TIO
-
"ISTRI%2TIO
-
"P
"P

TR$"I-L

TR$"I-L
($R:;
%2RR$%$X$R
($R:;
%2RR$%$X$R
S2%? %RO(ERS
S2%? %RO(ERS
$LE-TS
$LE-TS
P8E
P8E
($R:; $T
%2RR$%$X$R
%R$-CH
($R:; $T
%2RR$%$X$R
%R$-CH
MBA-08
C+A$*'R),8
A!AL$S"S
&' T1E DATA
A!AL$S"S:
I did my project ith the help of the 6uestionnaire given &y my company
guide) $fter getting the data from 3B/ people I segregated the data and too7 into account
only of only .// people ho I really thin7 are potential) I too7 into account of only that
people ho are ith positive attitude hile filling my 6uestionnaire) I too7 maximum
6uestionnaires from corporate and &usinessman as I ant to 7no the real preference of
corporate people in capital mar7et) On that purpose I have collected data from many
places of %hu&anesar' in (arvy office and many other companies) I also collected the
data from &usinessman and people ho have maximum 7noledge on share mar7et
$s many of them are &usy most of them filled in hurry) I too7 into
my project only those people ho I thought gave the correct information) 9ith the help
of the 6uestionnaires they filled I made my analysis part) I made my analysis separately
for each and every field)
Customer sur2e%ed on the basis of age grou4:
$LE LRO2P -O O8 PEOP!E F O8 PEOP!E
3/?KB K3 K3F
KB C B/ B0 B0F
B/ $-" $%O:E .. ..F
8rom the a&ove ta&le I found KB?B/ aged people invest more in compared to age group of
3/?KB and a&ove B/)
MBA-08
Customer sur2e%ed on the basis of .ender:
SE= !& &'
CUST&MES
> &'
CUST&MES
#$!E 53 53F
8E#$!E @ @F
Here the chart shos that the male customer>s investments in financial products are more
than the female) The male are seven times more than the females)
Customer sur2e%ed on the basis of Annua) "ncome:
$--2$! I-CO#E -O O8
C2STO#ERS
F O8
C2STO#ERS
%E!O9 3B//// .. ..F
3B////?B///// 3/ 3/F
B/////?.///// 3D 3DF
.//////?B////// K/ K/F
B//////?./////// ./ ./F
./////// $-" $%O:E B BF
MBA-08
This graph shos that the a&ove ./ lac7s income group invests more in financial
mar7ets)
;/? Do %ou in2est in the mar3et@
I-:EST#E-T I-
THE #$R(ET
-O O8
C2STO#ERS
F O8
C2STO#ERS
;ES 5K 5KF
-O 0 0F
This pi?chart shos the huge num&ers of people investment in financial mar7ets) In my
survey I found 5KF people invest here only 5F refuse to invest in mar7ets)
;/A -here do %ou in2est %our mone%@
I-:EST#E-T O8 #O-E; -O) O8
C2STO#ERS
F O8
C2STO#ERS
I-S2R$-CES D DF
EO2ITIES D/ DDF
#2T2$! 82-"S 3@ K/F
%OTH EO2ITIES $-" #8s) .0 .@F
$!! D DF
MBA-08
This graph shos people ants to invest more in e6uities hich is DDF and in mutual
funds it is K/F here in insurances it is only DF and all the sectors it is DF) People
ould invest in &oth mutual funds and e6uities are .@F) In %hu&anesar people
generally invests more in on line trading)
;/B "f %ou in2est in Mutua) 'unds then, 6hich of the 4)ans %ou fo))o6 6hi)e
in2esting mone% in M's@
I-:EST#E-T
I- #2T2$! 82-"S
-O)O8
C2STO#ERS
F O8
C2STO#ERS
!2#PS2# 35 B5
SIP .D 35
STP 1 .3
This pi? chart shos that in mutual funds people ould li7e to invest more in lump sum'
my survey shos that it is B5F' in comparison to sip 35F and stp .3F) $ccording to
them one time investment is &etter than giving money again and again)
;/C -hich t%4es of Mutua) 'und schemes %ou fo))o6 6hen in2est@
#8 SCHE#ES -O) O8
C2STO#ERS
F O8
C2STO#ERS
%; STR2CT2RE 31 BKF
%; I-:EST#E-T O%NECTI:E .B K.F
%; OTHER T;PES O8 SCHE#ES @ .1F
MBA-08
People in %hu&anesar prefers to invest more in #8 schemes' &y structure is BKF' &y
investment o&jective is K.F relatively loer than &y structure and .1F in other types of
schemes hich is very loer in compared to a&ove &oth the schemes)
;/D "f %ou in2est on the basis of structure then, 6hich of the schemes %ou 6ou)d )i3e
to fo))o6@
SCHE#ES -O O8
C2STO#ERS
F O8
C2STO#ERS
OPE-?E-"E" .@ 15F
C!OSE?E-"E" 1 3KF
I-TER:$!?SCHE#ES 3 @F
#ost of the people in %hu&anesar prefer to invest in open ended funds rather than close
ended funds due to its early redemption) The survey shos that open ended investment is
15F' closed ended is 3KF and interval schemes are only 5F)
MBA-08
;/E "f %ou in2est according to the ob(ecti2e then, 6hich of the schemes %ou fo))o6@
SCHE#ES -O) O8
C2STO#ERS
F O8
C2STO#ERS
LRO9TH SCHE#ES 0 D1F
I-CO#E SCHE#ES D 30F
%$!$-CE SCHE#ES K 3/F
#O-E; #$R(ET SCHE#ES . 0F
In mutual funds hen people prefer investment &y o&jective the their investment
preference is' groth schemes D1F' income schemes 30F' &alance schemes 3/F hile
money mar7et schemes 0F hich is relatively loer than all others)
;/F "f %ou in2est in other t%4es then, 6hich t%4es of the schemes %ou fo))o6@
SCHE#ES -O)O8
C2STO#ERS
F O8
C2STO#ERS
T$M S$:I-L SCHE#ES D D5F
SPECI$! SCHE#ES 3 3BF
I-"EM SCHE#ES . .KF
SECTOR SPECI8IC SCHE#ES . .KF
MBA-08
This graph shos that in investment &y other o&jective people prefer tax saving schemes
more up to D5F' special schemes 3BF' index schemes and sector specific schemes &oth
.KF each)
;/G -hich of the fo))o6ing ca4s %ou 4refer 6hi)e in2esting in Mutua) 'unds@
C$PS -O O8
C2STO#ERS
F O8 C2STO#ERS
!$RLE C$P ./ 3/F
#I" C$P 3B B.F
S#$!! C$P 5 .@F
#ICRO C$P B ./F
This chart shos that customers preferences investment on all the caps) The graph shos
that most of the people prefer to invest in mid?cap hich is B.F' then they prefer large
caps 3.F' &ut fe people invest in small cap .@F and micro cap ./F) It is &ecause in
mid cap funds the chances of groth of the funds are more)
;/H -hich of the o4tions %ou are using to get bac3 %our income@
OPTIO-S -O) O8
C2STO#ERS
F O8
C2STO#ERS
"I:I"E-T P$; O2T 1 .3F
"I:I"E-T RE?I-:EST#E-T .. 33F
LRO9TH K3 11F
MBA-08
$fter investment most of the customers prefer to get &ac7 their money &y groth'
&ecause they can get their total amount of money at a time) This graph exactly reflects
that percentage of customers choose groth hich is 11F' choose dividend re investment
is 33F and dividend pay out is .3F)
;/?I -hat do %ou thin3 about the future of mutua) funds in "ndia@
'UTUE !&. &'
CUST&MES
> &'
CUST&MES
LOO" .K DBF
%EST 33 30F
9ROST B ./F
C$-GT S$; 5 .@F
The graph clearly shos that some of the people assumed that the future of mutual funds
ill &e good= maximum told it is &est' fe told it is orst and fe told they can>t say
MBA-08
that) $ctually it is all depends upon the mar7et fluctuation) Still consumer preference
toards good is 30F' &est is DBF' orst is ./F and can>t say is .@F)
;/?? "f %ou 4refer to in2est %our mone% through E:uities then in 6hich segment
6ou)d %ou )i3e to in2est@
EO2ITIES -O)O8 C2STO#ERS F O8 C2STO#ERS
IPOGS .1 31F
STOC( EMCH$-LES K5 1DF
%OTH 1 ./F
The graph indicates that people mostly invest money through stoc7 exchanges 1DF' then
they prefer IPO>s hich is 31F and consumers preferences &oth is only ./F)
;/?A "f %ou in2est in "P&Js then, 6hich of the sectors %ou 6ou)d 4refer@
"P&KS !& &' > &'
MBA-08
CUST&MES CUST&MES
PS2 1 30F
PRI:$TE .3 BBF
%OTH D .@F
The chart reflects that most of the people attracts toards private sector Initial pu&lic
Offerings' in private sector the percentage of customer are BBF' in pu&lic sector units
30F and .@F people prefers &oth of the IPO>s for investments)
;/?B "f %ou 4refer stoc3 e9change then 6hich of the fo))o6ing %ou 4refer@
ST&C, E=C1A!.E !& &'
CUST&ME
> &' CUST&MES
-SE 5 3/F
%SE @ .@F
%OTH 3 13F
The customer mostly uses &oth of the stoc7 exchanges for investment)13F customers use
to invest in &oth the %om&ay stoc7 exchanges*%SE+ and -ation stoc7 exchanges *-SE+)
9hile only 3/F and .@F customers use to invest individually in -SE and %SE
respectively)
MBA-08
;/?C -hich ca4 6ou)d %ou 4refers to in2est %our mone%@
C$PS -O O8
C2STO#ERS
F O8
C2STO#ERS
!$RLE C$P .3 3/F
#I" C$P KB B0F
S#$!! C$P .. .@F
#ICROC$P K BF
In the stoc7 exchange investments most of the people prefer to invest in mid cap
companies) B0F prefers to invest in mid caps' 3/F prefers to invests in large cap
companies' ./F prefers to invests in small cap companies and only BF people prefers to
invests in micro cap companies)
;/?D -hat is %our e94ectation about the future in2estment of stoc3 e9change@
'UTUE !& &'
CUST&MES
> &'
CUST&MES
LOO" 31 D3F
%EST .0 3@F
9ROST D 0F
C$-GT S$; .D 3KF
MBA-08
The graph shos that D3F customer>s preference toards investments in stoc7 exchanges
is good' 3@F &est' 3KF can>t say and 0F is orst) This really indicates that consumer>s
interest toards investments in stoc7 exchanges)
;/?E -hich of the channe)s %ou are using to monitor %our in2estment@
"!#ESTME!T M&!"T& -O O8
C2STO#ERS
F O8
C2STO#ERS
$CCO2-T ST$TE#E-T D3 DBF
82-" HO2SE 2P?"$TES 5 ./F
O-?!I-E PORT 8O!IO TR$C(ER .. .3F
#E"I$ $-" 9E%SITES .3 .KF
%OTH *$+ $-" *%+ .. .3F
%OTH *$+ $-" *C+ K KF
%OTH *%+ $-" *C + B BF
The graph indicates that the customers preference toards monitoring their investment)
8rom the graph it concludes that DBF of customer prefers account statements' fund house
up dates prefers ./F' on line port folio trac7er prefers .3F' media and e& sides prefers
MBA-08
.KF' &oth *$+ and *%+ prefers .3F &oth *$+ and *C+ prefers KF and &oth *%+ and *C+
prefers BF) Lenerally people choose account statements and on line port folio trac7er)
;/?F -hich of the stoc3 bro3ing firm %ou 4refer 6hi)e in2est %our mone%@
ST&C, B&,"!. '"MS !& &'
CUST&MES
> &'
CUST&MES
I-"I$ %2!!S 1 ./F
$SHI($ STOC( %RO(I-L ./ .1F
(OT$( SEC2RITIES 5 .BF
($R:; .0 3@F
$-$-" R$THI 1 ./F
#OTI!$! OS9$! @ .KF
OTHERS B @F
This graph shos that the customers preference toards stoc7 &ro7ing firms' according
to my survey (arvy 3@F' $shi7a stoc7 &ro7ing .1F' #otilal Osal .KF' $nand Rathi
./F' (ota7 Securities .BF' India %ulls ./F and others @F)
MBA-08
CC
MBA-08
)HA*T+R ,-2
RECO##E-"$TIO- $-"
CO-C!2SIO-
Re"ommendations1
These are the recommendation given from my research,
Company should ta7e advance step for promoting sales of insurance in huge
num&ers' for that they have to ee7ly arrange meetings and motivate its people)
#aintaining transparency in management and creating aareness &y conducting
seminars or7shops and esta&lishing good service netor7 can &enefit #utual
8und Industry in (ol7ata)
The only place here (arvy customers are not satisfied is the call service) So I
strongly recommend (arvy should increase its num&er of staffs in every &ranch)
In most of the &ranches the cost cutting is very need) There I found huge expenses
in currier service &ut that can &e reduced)
The company should pay attention to the trading customer= they are not rising day
&y day in the same flo as others companies are floing)
The company is mostly using the old customers for ma7ing mutual funds rather
than creating ne customer the company should ta7e this matter in to
consideration' &ecause the old customers need change to other stoc7 &ro7ing
firms)
In distri&ution channel of company it should distri&ute the forms to the su&?
&ro7ers according to their previous records' so that the forms can>t &e losses)
The company should provide training in different products and company>s culture
to its employees to times in a month on Saturdays for rising &usiness and
motivate its employees)
MBA-08
Investors need to invest in different schemes of #8s 7eeping in vie a short?term
and medium?term Prospective along ith sound return)
8und manager should invest an ade6uate portion in money mar7et or 7eep cash
e6uivalent funds for sustaining redemption pressure that may arise due to adverse
mar7et movements)
)O/)L0SIO/1
In my study I came to 7no that all customer investment ideas are not same) Here the
customer perception plays very important role in their investment ideas) #any Customers
are interested to invest their money in securities and other investments) It is not so easy to
study consumer &ehaviour)

-o a day the financial mar7et is &ooming) Consumer &ehavior regarding investment in
financial sectors is groing due to heavy rate of return) Currently the L"P is @)B and
inflation B)B) So the pu&lic is investing more and more money in financial products) The
on line trading is groing at faster rate' loo7ing at the Sensex and -ifty people getting
interested to invest in the mar7et) The non listed *not registered in SE%I+ companies
issuing IPO>s that are of heavy demand in the pu&lic) $s it is that it is totally depends
upon mar7et fluctuation) Right no the e6uity mar7et is the most favora&le inertia for
many of the investors)
#utual fund is the most important financial invest in the preset scenario) So the scope of
#utual 8und in India is very &right) The overall success lies ith the adoption of the
management of the investment decisions &y the fund managers) The o&jectives of the
investors are groing day &y day in num&er) The mutual fund industry is also trying to
&enefit from this need &y introducing a large no of schemes ideal for different groups of
investors) Therefore' investment management ill play a role of the catalyst in the
success of the mutual funds in India) The management of funds has &ecome aggressive'
investing in ne economy stoc7s here&y the correlation ith the mar7et has &ecome
highly positive) This is good for short term gains &ut it hampers the long term prospect
MBA-08
once the &u&&le of the ne economy stoc7s &ursts) Hence' fund managers have to protect
the interest of long term investors' provide for greater diversification and identity stoc7s
ith good prospects)
The people ho are having much idea in share mar7et are only going for commodities
and IPO *initial pu&lic offering+) In these to' the ris7 and loss is 6uite high hen
compared to mutual funds and e6uities) The other to financial instruments on hich
people are having less 7noledge are derivatives and P#S *portfolio management
services+) The ris7 in these to is very high) #ost of the people prefer online account' the
advantages hich they are getting li7e free from the paper or7 and trading from the
home is the main areas they are &enefited) The people ho are preferring offline account
are very lo and these are the people ho are not having 7noledge on online system
and so opted for offline)
In a place li7e 7ol7ata people are very much aare of the financial investments) They
alays prefer to invest in e6uity mar7et or in the #utual funds rather than invest in the
&an7s) In case of (arvy it is doing good &usiness &ut it can &e the -o?. merchant &an7ing
company if SE%I again permit (arvy to provide the demat service to pu&lic) In
developed countries li7e 2)S) there are funds to satisfy every&ody>s re6uirement' &ut in
India this not so happened) In near future India has to concentrate on financial as ell as
physical funds)
MBA-08
MBA-08
CH$PTER?/@
%I%!IOLR$PH;
B"BL"&.AP1$
A/ -eb Based
.) )7arvy)com

3) )moneycontrol)com
K) )amfiindia)com
D) )valueresearch)com

B/ 0ourna)
.) 8inapolis' 7arvy>s journal
3) Trade inds
K) (arvy %a<aar %aatein
D) Stoc7 exchanges of India
B) Harvard %usiness Revie Nournal
1) #utual fund #anual
C/ eference Boo3s
.) #ar7eting research *-aresh () #alhotra+
3) #ar7eting #anagement? Philip (otller

MBA-08
MBA-08
)HA*T+R ,-3
$PPE-"IM

#$R(ET S2R:E;
"ear sir4madam

I am a student of ""CE' S$#%$!P2R 2-I:ERSIT;' pursuing #%$
degree) I am doing a mar7et survey on Consumers &ehaviour regarding investment on
mutual funds and share mar7etsJ I ould li7e to 7no your vies' preferences' opinions
a&out your investment decisions and satisfaction level) I re6uest you to spend fe
minutes for completing this 6uestionnaire) $ll the information ill &e 7ept secret and ill
&e used only for academic purpose)
-ame, YYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYY
$ge, YYYYYYYYYYYYYYYYYY Contact -o, YYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYY
Sex, YYYYYYYYY $ddress, YYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYY
$nnual Income YYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYY
E? #ail, YYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYY
O?. "o you invest in the mar7etsV
*a+;es *&+ -o
O?39here do you invest your moneyV
*a+ Insurance *&+ E6uities
*c+ #utual 8unds *d+ %oth E6uities and #utual 8unds
*e+ $ll
MBA-08
O?K If you invest in #utual 8unds then' hich of the plans you follo hile investing
money in #8sV
*a+ !ump sum *&+ SIP *c+ STP
O?D 9hich types of #utual 8und schemes you follo hen investV
*a+ %y Structure *&+ %y Investment o&jective *c+ %y Other types of schemes
O?B If you invest on the &asis of structure then' hich of the schemes you ould li7e to
folloV
*a+ Open?Ended *&+ Close?Ended *c+ Interval Schemes
O?1 If you invest according to the o&jective then' hich of the schemes you folloV
*a+ Lroth Schemes *&+ Income Scheme
*c+ %alance Scheme *d+ #oney mar7et Schemes
O?0 If you invest in other types then' hich types of the schemes you folloV
*a+ Tax Saving Schemes *&+ Special Schemes
*c+ Index Schemes *d+ Sector Specific Schemes
O?@ 9hich of the folloing caps you prefer hile investing in #utual 8undsV
*a+ !arge Cap *&+ #id cap *c+ Small Cap *d+ #icro Cap
O?5 9hich of the options you are using to get &ac7 your incomeV
*a+ "ividend Payout *&+ "ividend Re?investment *c+ Lroth
O?./ 9hat do you thin7 a&out the future of mutual funds in IndiaV
*a+ Lood *&+ :ery Lood *c+ %ad *d+ Can>t Say
O?..If you prefer to invest your money through E6uities then in hich segment ould
you li7e to investV
*a+ IPOGs *&+ Stoc7 Exchanges *c+ %oth
MBA-08
O?.3 If you invest in IPO>s then' hich of the sectors you ould preferV
*a+ PS2 *&+ Private *c+ %oth
O?.K If you prefer stoc7 exchange then hich of the folloing you preferV
*a+ -SE *&+ %SE *c+ %oth
O?.D 9hich cap ould you prefers to invest your moneyV
*a+ !arge Cap *&+ #id cap *c+ Small Cap *d+ #icro Cap
O?.B 9hat is your expectation a&out the future of stoc7 exchangeV
*a+ Lood *&+ :ery Lood *c+ %ad *d+ Can>t Say
O?.1 9hich of the channels you are using to monitor your investmentV
*a+ $ccount Statement *&+ 8und House 2pdates
*c+On?line Port 8olio trac7er *d+ #edia and 9e&sites
*e+ %oth *a+ and *&+ *f+ %oth *a+ and *c+
*g+%oth *&+ and *c+
O?.0 9hich of the stoc7 &ro7ing firm you prefer hile invest your moneyV
*a+India %ulls
*&+$shi7a Stoc7 %ro7ing
*c+(ota7 Securities
*d+(arvy
*e+$nand Rathi
*f+#otilal Osal
*g+Others
Than7 you very much for participation in this study)
MBA-08