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INTRODUCTION ABOUT THE SECTOR

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A stock market or equity market is a public entity (a loose network of economic transactions, not a physical facility or discrete entity) for the trading of company stock (shares) and derivatives at an agreed price; these are securities listed on a stock exchange as well as those only traded privately. The size of the world stock market was estimated at about $38.6 trillion at the start of October 2011. The stocks are listed and traded on stock exchanges which are entities of a corporation or mutual organization specialized in the business of bringing buyers and sellers of the organizations to a listing of stocks and securities together. The largest stock market in the United States, by market capitalization, is the New York Stock Exchange (NYSE). In Canada, the largest stock market is the Toronto Stock Exchange. Major European examples of stock exchanges include the Amsterdam Stock Exchange, London Stock Exchange, Paris Bourse, and the Deutsch Brse (Frankfurt Stock Exchange). In Africa, examples include Nigerian Stock Exchange, JSE Limited, etc. Asian examples include the Singapore Exchange, the Tokyo Stock Exchange, the Hong Kong Stock Exchange, and the Shanghai Stock Exchange. In Latin America, there are such exchanges as the BM&F Bovespa and the BMV. In India Bombay Stock Exchange (BSE) benchmark, Sensex & National Stock Exchange (NSE), the 50-stock Nifty index. The market in which shares are issued and traded, either through exchanges or over-the-counter markets are also known as the stock market. It is one of the most vital areas of a market economy because it gives companies access to capital and investors a slice of ownership in a company with the potential to realize gains based on its future performance.

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EVOLUTION OF THE INDIAN BROKERAGE MARKET The Indian broking industry is one of the oldest trading industries that had been around even before the establishment of the BSE in post period, the industry has found its way towards 1875. Despite passing through a number of changes in the liberalization

sustainable growth. The evolution of the brokerage market is explained in three phases: pre1990, 1990-2000, post 2000. Early Years The equity brokerage industry in India is one of the oldest in the Asia region. India had an active stock market for about 150 years that played a significant role in developing risk markets as also promoting enterprise and supporting the growth of industry. The roots of a stock market in India began in the 1860s during the American Civil War that led to a sudden surge in the demand for cotton from India resulting in setting up of a number of joint stock companies that issued securities to raise finance. This trend was akin to the rapid growth of securities markets in Europe and the America in the background of expansion of railroads exploration of natural resources and land development. Bombay, at that time, was a major financial centre having housed 31 banks, 20 insurance companies and 62 joint stock companies. In the aftermath of the crash, banks, on whose building steps share brokers used to gather to seek stock tips and share news, disallowed them to gather there, thus forcing them own, which later turned into the Dalal Street. A group of about 300 brokers formed the stock exchange in Jul 1875, which led to the formation of a trust in 1887 known as the Native Share and Stock Brokers Association. A unique feature of the stock market development in India was that that it was entirely driven by local enterprise, unlike the banks which during the pre 3

North and

to find a place of their

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independence period were owned and run by the British. Following the establishment of the first stock exchange in Mumbai, other stock exchanges came into being in major cities in India, namely Ahmadabad (1894), Calcutta(1908),Madras (1937), Uttar Pradesh and Nagpur (1940) and Hyderabad (1944). The stock markets Gained from surge and boom in several industries such as jute (1870s), tea (1880s and 1890s), coal (1904 and 1908) etc, at different points of time. INDIA IN GLOBAL MARKETS The stature and significance of India is growing in the world capital markets. India is not only attracting greater interest from world markets, but is also assuming increasing importance in global finance. India is a major recipient of foreign institutional flows amongst the emerging markets. Since the opening up of domestic stock markets to foreign investors, cumulative net FII investments reached Rs 517 Bn by 2008 end. India is major destination of private equity flows into the emerging markets. India was host to the annual meetings/conference of the World Federation of Exchanges (2005) and International Organization of Securities Commission (IOSCO) (2007). India emerged a trillion dollar market capitalization market in 2007, and was among the top 10 stock exchanges in the world in terms of market capitalization. India is amongst the top fifteen stock exchanges in the world in respect of equity turnover. India emerged as a leading player in commodities futures market. India is amongst the top five in the number of transactions. India is among the top five in respect of volume traded in Stock Index Futures and Stock Futures. India is one of the few markets with extensive dematerialization of shares. Indias T+2 securities settlement cycle is at par with the global standards. Indian stock markets
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have the largest number of listings, with trading taking place in about 2,500-3,000 stocks. Indias most popular stock index (Sensex) is constructed on the basis of full float methodology, one of the firsts in the Asian region and a global standard. Indian market indices such as Sensex and CNX Nifty are listed in foreign exchanges for trading as ETFs. THE BSE AND NSE Most of the trading in the Indian stock market takes place on its two stock exchanges: the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The BSE has been in existence since 1875. The NSE, on the other hand, was founded in 1992 and started trading in 1994. However, both exchanges follow the same trading mechanism, trading hours, settlement process, etc. At the last count, the BSE had about 4,700 listed firms, whereas the rival NSE had about 1,200. Out of all the listed firms on the BSE, only about 500 firms constitute more than 90% of its market capitalization; the rest of the crowd consists of highly illiquid shares.

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GENERAL INTRODUCTION ABOUT THE COMPANY

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Established in December 2004, BMA Wealth Creators is a financial services provider and specializes in extending customized financial solutions to individual and corporates. The Company works towards understanding the financial ambitions of its clients and adjusts to its risk profile accordingly. Their expertise combined with thorough understanding of the financial markets results in appropriate investment solutions for all. BMA Wealth creators is a part of the BMA Group. Established in 1920s, the Group has created its forte by promoting successful ventures in the fields of coal mining, refractory, steel and Ferro alloy. In the form of established names in the market such as BMA Stainless Steel (Captain TMT Bars), Prop. Snowtex Udyog Ltd, Anjanery Ferro Alloys Limited, Maithan Alloys Limited, Maithan Smelters Limited, BMA International and BMA EcoPrint. BMA Financial Services primarily focuses on offering diversified financial planning services to corporate & individuals. Their spectrum of services include financial planning, advising, executing, monitoring of investments & more. With their team of financial consultants & experts they ensure to deliver customized solution to all their clients. They offer a wide range of financial services and solutions through their varied services.

Wealth Management Services Investment Advisory Services Securities Broking, Equities and Derivatives Distribution of Financial Products Marketing of Equity and Mutual Fund IPO

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Commodities Broking Their expertise in each of these areas helps to achieve financial objectives. They provide full service functions, which include:

Planning Advising Executing Monitoring your investments

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INDUSTRY PROFILE

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INDIAN SECURITIES MARKET

Meaning of securities The issues in stock exchanges are called securities. This includes shares and debentures issued by public companies, government and semigovernment bonds, debentures bonds issued by government companies, etc. Indian stock market has a long history dated back to 19th century. At the end of 19th century Bombay stock exchange was established in MUMBAI Types of securities Government Securities Government securities refer to securities issued by the central

government or state government. Securities point of view, government securities are considered to be better. It is called golden edge securities. Semi-government Securities The bonds and debentures issued by public utility services are known as semi government securities. Security point of view, place for the category of securities comes after the government securities. The payment of invested money with interest on such securities is guaranteed by the government. Investment Securities The security that is suitable in view of investment is called investment securities. A certain fixed income is expected from such securities, and comparatively price is also remaining stable. For example the government and semi-government securities, issued by banks and insurance companies come under this category. Speculative Securities

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The prices of securities that fluctuate largely called speculative securities. The speculators have special interest in such securities. They earn profit under the impression of future increase or decrease in prices Trustee Securities Such securities in which some trust money can be invested, is called trustee securities. Industrial Securities Industrial security is a wider term and it includes the securities of Bank, Insurance, and industrial activities etc. Only the securities issued by business institutions are categorized separately as industrial securities. Registered Securities Registered securities are those which are registered with the concerned institutions book. Registered securities can be transferred from one person to another through Registered. Bearer Securities Bearer securities can be transferred by mere delivery from one person to another. The names of bearer securities are not deemed to be its owner. Listed Securities The securities that include in the list of recognized stock exchanges, is called listed securities. Only listed securities are transacted in stock exchanges. Cleared Securities Those securities that have been recognized by the stock exchanges for transactions are called cleared securities.

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STEPS TO PURCHASE SECURITIES:

The following procedure may be followed by a purchaser of securities at a stock exchange: 1. Selection of a broker: Since only members can deal in securities at a stock exchange, the intending buyer will have to take the help of a broker for purchase of securities. The broker may be engaged either directly or through the mediation of a bank with which the intending buyer has dealings. The latter, or course is generally preferred, since the banks are integrity of the broker. 2. Placement of order: Ordinarily the broker recommends for purpose of investment a number of securities and indicates in each case the advantages and disadvantages of investing funds in it, the risk involved, anticipated return, prospects of appreciation and deprecation. The investor, on the basis of the advice of broker draws upon the order wherein he generally specifies the price at which the different securities may be purchased. 3. Making of a contract: After receiving the order the broker or his authorized agent goes to the hall of the stock exchange where the securities required are dealt with. He announces his requirement by shouting in the hall during the time allotted for dealings in the particular class of securities, In response to his 'shouting' another broker who has an order with him to sell those securities, may accept his offer or may make a counter offers. Instead of shouting in the hall, another alternative open to broker is to contact the members in their cabins and find out whether they are willing to sell the securities he wants to buy After negotiations with them a bargain is struck.

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4. Preparation of contract note: A book called "sauda book" is maintained by each broker. After recording the transaction of purchase or sale of securities in the book, the broker will get the signatures of the other member brokers with whom he had the dealing in confirmation of the purchase of sale. A copy of the transactions recorded in this book is submitted by the broker to the stock exchanges at the end of the day. This facilitates reconciliation by stock exchanges of all transactions for purchases with sales and vice versa. 5. Settlement of the transactions: The broker or members of the stocks exchanges settle the transactions on the settlement day on behalf of their clients. The mode and time of settlement depends on the nature of transactions, i.e. whether it is a ready delivery transactions or a forward delivery transaction. In case a person wants to sell the securities, practically the same procedure, as discussed above, will have to be followed.

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HISTORY OF EQUITY MARKET

Market-oriented economic reforms in India began in 1991. With the removal of Administrative controls on bank credit and the primary market for securities, the capital markets came to occupy a larger role in shaping resource allocation in the country. This led to a heightened interest amongst policy makers in the institutional development of securities markets. The efforts towards empowering the securities market regulator (SEBI), and the first efforts towards attracting foreign portfolio investment began early in the reforms process. Almost immediately after the reforms began, there was a prominent scandal on the fixed income and equity markets, which was exposed in April 1992. This set the stage for an unusual policy intervention: the establishment of a securities exchange, the National Stock Exchange (NSE), by the government. Contrary to most expectations, NSE succeeded, becoming the largest equity market in 1995. NSE pioneered many important innovations in market design in India. The most important of these included nationwide electronic trading (1994), the clearing corporation as a central counterparty (1996) and paperless settlement at the depository (1996). NSE was a pioneer amongst securities exchanges in the world in using a demutualised structure, where brokerage firms did not own the exchange. The demutualised structure helped in keeping NSE focused on the needs of investors as opposed to the profit maximization of brokerage firms. The creation of the new exchange, clearing corporation and depository were important accomplishments of institution building. From 1996 onwards, debates about policy issues on the equity market were dominated by questions about the role for leveraged trading. There was a proposal to have a spot market based on rolling settlement (where leverage is limited to intraday positions only).
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In 2001, a major crisis broke on the equity market. It involved numerous elements: large leveraged positions which went wrong, accusations of market manipulation, a payments crisis at the Calcutta exchange, fraud in the banking system, ethics violations at the Bombay Stock Exchange, This crisis was valuable in breaking this fiveyear deadlock and moving on with reforms. In June 2001, trading in index options commenced & within a matter of weeks, liquidity improved sharply. Over the 1990s, the equity market became a nationwide platform with realtime capability for trading and settling stock transactions. However, comparable improvements in the infrastructure for funds transfer in the country have not taken place. Beyond technical questions of market design, the most important concerns about the securities markets today are questions of governance and policy formulation Securities markets have made significant progress in terms of exploiting modern trading technology and modern financial instruments. However, the regulatory capacity on the part of both exchange institutions and SEBI is highly limited.

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STOCK MARKET
The term 'the stock market' is a concept for the mechanism that enables the trading of company stocks, other securities, and derivatives. The stocks are listed and traded on stock exchanges which are entities (a corporation or mutual organization) specialized in the business of bringing buyers and sellers of stocks and securities together. Equity/Share Total equity capital of a company is divided into equal units of small denominations, each called a share. For example, in a company the total equity capital of Rs 2,00,00,000 is divided into 20,00,000 units of Rs 10 each. Each such unit of Rs 10 is called a Share. Thus, the company then is said to have 20,00,000 equity shares of Rs 10 each. The holders of such shares are members of the company and have voting rights. There are now stock markets in virtually every developed and most developing economy, with the world's biggest markets being in the United States, UK, Germany, France, India and Japan.

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THE BOMBAY STOCK EXCHANGE IN INDIA Function and purpose The financial system performs three main tasks: first, it handles transfer of payments; second, it channels savings to investments with a good return for future consumption; and third, it spreads and reduces (local enterprise) economic risks in relation to the players' targeted returns. The smooth functioning of all these activities facilitates economic growth in that lower costs and enterprise risks promote the production of goods and services as well as employment. In this way the financial system contributes to increased prosperity. The stock market is one of the most important sources for companies to raise money. Rising share prices, for instance, tend to be associated with increased business investment and vice versa. Share prices also affect the wealth of households and their consumption. Therefore, central banks tend to keep an eye on the control and behaviour of the stock market and, in general, on the smooth operation of financial system functions. Trading Participants in the stock market range from small individual stock investors to large hedge fund traders, who can be based anywhere. Market Timings Trading on the equities segment takes place on all days of the week (except Saturdays and Sundays and holidays declared by the Exchange in advance). The market timings of the equities segment are: Normal Market Open: - 09:15 hours Normal Market Close: - 15:30 hours
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LISTING
Listing means admission of securities of an issuer to trading privileges on a stock exchange through a formal agreement. The prime objective of admission to dealings on the Exchange is to provide liquidity and marketability to securities.

SECURITIES
"Securities" is a generic term describing a transferable certificate of ownership in an investment product. An investment product includes notes, bonds, stocks, futures, contracts and options. A Security gives the holder an ownership interest in the assets of a company. For example, when a company issues security in the form of stock, they give the purchaser an interest in the company's assets in exchange for money. There are a number of reasons why a company issues securities: meeting a short-term cash crunch or obtaining money for an expansion is just two.

TRADING IN INDIA
NSE introduced for the first time in India, fully automated screen based trading. It uses a modern, fully computerized trading system designed to offer investors across the length and breadth of the country a safe and easy way to invest. The NSE trading system called 'National Exchange for Automated Trading' (NEAT) is a fully automated screen based trading system, which adopts the principle of an order driven market.

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REGULATOR
WHO REGULATES THE SECURITIES MARKET? The responsibility for regulating the securities market is shared by Department of Economic Affairs (DEA), Department of Company Affairs (DCA), Reserve Bank of India (RBI) and Securities and Exchange Board of India (SEBI). WHAT IS SEBI AND WHAT IS ITS ROLE? The Securities and Exchange Board of India (SEBI) is the regulatory authority in India established under Section 3 of SEBI Act, 1992. SEBI Act, 1992 provides for establishment of Securities and Exchange Board of India (SEBI) with statutory powers for (a) protecting the interests of investors in securities (b) promoting the development of the securities market and (c) regulating the securities market. Its regulatory jurisdiction extends over corporates in the issuance of capital and transfer of securities, in addition to all intermediaries and persons associated with securities market. SEBI has been obligated to perform the aforesaid functions by such measures as it thinks fit. In particular, it has powers for: 1. Regulating the business in stock exchanges and any other securities markets 2. Registering and regulating the working of stock brokers, sub brokers etc. 3. Promoting and regulating self-regulatory organizations 4. Prohibiting fraudulent and unfair trade practices 5. Calling for information from, undertaking inspection, conducting inquiries and audits of the stock exchanges, intermediaries, self regulatory organizations, mutual funds and other persons associated with the securities market.

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CLEARING CORPORATION
A Clearing Corporation is a part of an exchange or a separate entity and performs three functions, namely, it clears and settles all transactions, i.e. completes the process of receiving and delivering shares/funds to the buyers and sellers in the market, it provides financial guarantee for all transactions executed on the exchange and provides risk management functions. National Securities Clearing Corporation (NSCCL), a 100% subsidiary of NSE, performs the role of a Clearing Corporation for transactions executed on the NSE. Rolling settlement all open positions at the end of the day mandatorily result in payment/ delivery n days later. Currently trades in rolling settlement are settled on T+2 basis where T is the trade day. For example, a trade executed on Monday is mandatorily settled by Wednesday (considering two working days from the trade day). The funds and securities pay-in and pay-out are carried out on T+2 days.
FACTORS AFFECTING THE PRICES OF SECURITIES IN STOCK EXCHANGE

Rates of dividend declared by companies. Changes in the capital structure of companies. Present economic condition of the institution. Change in the management and control. Strikes of employees. Government policies towards industrial licensing and taxation. Rate of interest in money market and availability of credit. Business cycles. Circulation of money. National politics and change in government.

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Financial market can be divided into following sub-markets

Markets can be classified into different categories depending upon characteristics of market or instrument used to create categories. Securities created by institutions in the markets normally pay an interest on the nominal amount (the amount shown on the certificate or contract). The interest-bearing securities market is split into money market and the capital market, based on the term to maturity (the term left to redemption of the debt) of the securities. The capital market is the market for issue and trade of long terms securities. The money market is that of short-term securities .The money market is basically concerned with the issue and trading of securities with short term, maturities or quasi-money instrument .The instruments traded in the money market are Treasury Bill, Certificates of Deposits (CDs), Commercial paper (CPs), Bills of exchange and other such instruments of short term maturities (i.e. not exceeding 1year with regard to the original maturity). The Bond market, which provide financing through the issuance of bonds, and enable the subsequent trading thereof. Commodity markets, which facilitate the trading of commodities. The derivatives markets, which provide instrument for the management of financial risk. Futures markets, which provide standardized forward contracts for trading products at some future date Insurance markets, which facilitate the redistribution of various risks. Foreign exchange markets, which facilitate the trading of Foreign exchange.

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CAPITAL MATKET
PRIMARY MARKET
The market for instruments (also called securities) issued for the time, is called the primary market. Because the standardization of these instruments. Different needs in the market at different times, and different views of economic factors, these instruments are traded between institutions after they have been issued for the first time. If a leader needs his money before redemption date of the loan, the lender could trade the loan by selling the certificate to another institution. The buyer of the instrument pays the seller and amount (the present value the future cash flows of the loan), and the buyer becomes the new lender. The market where instrument are traded subsequent to the first issue is called the secondary market.

SECONDARY MARKET
The secondary market in some of the securities is a very active, market. Activities in the secondary market have strong determining influence on issue in the primary market as liquidity, market rates, scale of demanded. Of specific instruments are reflected in the secondary market. The variable of the economy in these markets are expressed through the interest rate (the price mechanism) determined in the rate and value at which issue can take place in the primary market. The secondary markets give the investor the opportunity to manage his portfolio in terms of risk and return ratio, liquidity, etc. The investor receives or wants to receive on his investment (called the yield); can be managed within certain parameters and by using different strategies of buying and selling different instruments and investments in the secondary market.

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TO BUY THE SHARES:

There are basically two ways to buy the shares of the company. The ways are: Buying from the primary market Buying from the secondary market Buying from the primary Market It means that buy the shares directly from companies when the make new issues of shares or come out with IPOs. One can also get rights issue and bonus shares. Reasons to buy Shares from Primary Market Listing gains are the chief attractions of buying the shares I the primary market. The following are the important reasons to pick the shares through IPOs, rather than buy them from the market: The first reason is that often companies issue their shares cheaply and, later, when these shares are listed on the stock Exchange, they list at a premium (higher than the price at which they were issued). So make a lot of money if sell the shares soon. It also happens that companies who are going public or listing shares for the first time also usually offer their shares cheap, and could go on to become very successful, IPOs thus offer investors the chance to participate in their prosperity cheaply. Buying From the Secondary Market It means buy the shares of a company that is already listed people can buy them from the stock exchange through brokers.

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PRESENT SCENARIO
OVERVIEW
India has witnessed a consistently strong growth of over 7%+ over the past 5 years. This, along with the positive regulatory environment, has attracted foreign investors to India. The number of FIIs registered in India has increased to 1711 in April 2010 from 513 in 2003. Increasing foreign participation has been significantly positive for capital market intermediaries in India. FY09 remained a lackluster year, with FII being net sellers for ~US$10bn. Retail investors participation also remained low during FY09, which impacted performance of capital market intermediaries. With Indian economy moving on an up cycle during FY10, FIIs infused ~$20bn in Indian capital markets, and retail participation also improved through insurance and mutual fund route. Corporate fund raising activity (through QIPs, IPO, and debt syndication) has also gained m momentum during FY102. This has aided capital market intermediaries fee-income. The secondary capital market volumes clocked a growth of 60% yoy to Rs. 978bn (annual average) during FY10 from Rs609bn in FY09. Presently close to 77% of the capital market volumes comprise mix has tempered market share of top of F&O 10 volumes as compared to 61% in FY05. Change in the capital market volume capital market intermediaries during FY10. Moreover, lower delivery volumes in the cash segment have

impacted brokerage yields during FY10. We opine that the market share of most of the capital market intermediaries will remain under pressure going forward. With increased competition, brokerage are expected to remain flat despite higher focus of yields the

intermediaries on the cash segment. We have assumed a 15% CAGR over FY11-12 in capital market volumes from current average of Rs 978bn.
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Operating cost of capital market intermediaries is largely variable in nature. Cost effective distribution model - franchisee and online trading through portals also helps in keeping a check on operating cost. And, thus operating and net profit margins are likely to remain stable. Post recent correction stock prices of capital market intermediaries are trading at significant discount to the benchmark index valuations. The Indian retail brokerage industry consists of companies that primarily act as agents for the buying and selling of securities (e.g. Stocks, shares, and similar financial instruments) on a commission or transaction fee basis. It has two main interdependent segments.

RAPID GROWTH
The last decade has been exceptionally good for the Stock markets in India. In practice the back as of wide ranging reforms in regulation and market foreign institutional also the growing participation of

investment, stock markets in India have showed phenomenal growth in the early 1990s. The stock market capitalization in mid-2007 is nearly the same size as that of the gross domestic product as compared to about 25 percent of the latter in the early 2000s. Investor base continued to grow from domestic and international markets. The value of share trading witnessed a sharp jump too. Foreign institutional investment in Indian stock markets showed continuous rise reaching about USD10 bn in each of these years between FY04 to FY06. Electronic trading, digital certification, straight through processing, electronic contract notes, online broking have emerged as major trends in technology. Risk management became robust reducing the recurrence of payment defaults. Product expansion took place in a speedy m manner. Indian equity markets now offer, in addition to trading in equities, opportunities in trading of derivatives in futures and options in index and stocks.

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CORPORATE PROFILE

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ORIGIN OF THE ORGANIZATION

In the 1920s, Mr Bhuramal Agarwalla, founder of the BMA Group, had made a foray into the obscure energy industry with a mission to assume eminence in the coal mining business. With his vision and character, he managed to place the business on a higher pedestal. By adhering to bipronged philosophy of risk-taking and fostering an ethic-based environment, he cautiously promoted excellence through quality to meet the expectations of both domestic and international clients. Taking inspiration from this, the group has scaled many heights venturing into Refractorys, Smelting, Ferrous Alloys, and Coke is leading by example.

In the age of Second Generation Reforms, the company has successfully passed down its mantle to the Fourth Generation. The group has successfully fused traditional methods with modern mantra of management to come out with flying colours. The group has taken multifarious initiatives, some of which have already yielded dividends. They are manufacturers and exporters of ferrous alloys, refractorys etc. The holistic production process combines a perfect balance between product availability, manufacturing procedure, quality supply chain and a geographical dispersion of marketing and operations. Over the years the BMA Group has become a single reliable source for resources and a Group you can count on for delivery and quality. Service to the customer goes beyond the sale of products by providing technical advice for economic and efficient applications and maintenance for products supplied by the group companies.

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Group Companies are: National Refractories The Behar Potteries Ltd. Refractories Unit Refractories Unit West Bengal West Bengal Jharkhand West Bengal Meghalaya West Bengal

Anjanery Ferro Alloys Ltd. Ferro Alloys Unit Maithan Alloys Ltd. Maithan Smelters Ltd. Premium Fuels Ferro Alloys Unit Ferro Alloys Unit Metallurgical Coke Unit

Corporate Social Responsibility should be the inherent motive of every business house. The Group BMA takes its commitment seriously and has imbibed this responsibility into its mission. It actively participates in community development through three ways: philanthropy, civic leadership & public policy and grass root efforts. The company provides generous support & leadership to a wide range of organizations that cater to cultural, civic, environmental, health and human services.

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GROWTH OF THE ORGANISATION

DIFFERENT VENTURES OF BMA GROUP
1. Refractories Companies under Refractories: National Refractories (Prop. Snowtex Udyog Ltd) - An ISO 9001:2000 company The Behar Potteries Ltd. 2. Ferro Alloys Companies under Ferro Alloys: Anjaney Ferro Alloys Ltd. Maithan Alloys Ltd.- An ISO-9001:2000 company Maithan Smelters Ltd. 3. Coal & Coke Companies under Coal and Coke Premium Fuels (Prop. Snowtex Udyog Ltd.) 4. Steel Product Manufacturing & exporting of stainless steel & allied products that are tested to comply with international standards. 5. Export and Import Companies under Export and Import BMA International EXPORT AND IMPORT ITEMS: 1. Refractory Alumina Silicate Bricks Insulation Bricks
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Monolithics Special Refractories 2. Ferro Alloys High Carbon Ferro Manganese High Carbon Ferro Manganese(LowPhos) Medium Carbon Ferro Manganese Low Carbon Ferro Manganese High Carbon Silico Manganese Medium Carbon Silico Manganese 6. Financial Services Wealth Management Services Investment Advisory Services Securities Broking Equities and Derivatives Distribution of Financial Products Marketing of Equity and Mutual Fund IPO Commodities Broking Companies under Financial Service BMA Wealth Creators Pvt. Ltd BMA Commodities Pvt. Ltd

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ABOUT COMPANY
BMA Wealth Creators providing risk profile. Pvt. Ltd. is a premier corporate combined financial with services

organisation, goals and

individual Their

and

customized thorough

financial solutions. They work towards understanding your financial expertise with understanding of the financial markets results in appropriate investment solutions for you. At Wealth Creators they realize your dreams, needs, aspirations, concerns and resources are unique. This is reflected in every move they make with and for you. They have deep appreciation for the Value of building an everlasting relationship with YOU. BMA Wealth Creators Pvt., Ltd. was formerly known as BMA Stock Broking Pvt., Ltd. and changed its name in July 2007 Their financial services corporate entities are represented by BMA WEALTH CREATORS LTD. which holds corporate

membership in National Stock Exchange Ltd, Bombay Stock Exchange Ltd. and Central Depositories Securities Ltd BMA COMMODITIES PVT. LTD. This holds corporate

membership in commodities exchange of NCDEX and MCX. It is also is SEBI approved AMFI registered Mutual Fund advisory and intermediary. They inherit the legacy of BMA group which has been one of the dominant entities in Ferrous and Ferro Alloy industry in India. The BMA Group has created its niche in by promoting successful ventures in the fields of coal mining, refractory, steel and Ferro alloy. The strive to achieve excellence and dynamic growth has been possible through optimum mix of technology, customer orientation, best business practices, forging alliances, high quality standards and proactive business culture. Currently they've presence in 1650 location PAN India. Presently company has 5,000 employees in all over India.

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MANAGEMENT TEAM

MANAGING DIRECTOR & CEO ANUBHAV BHATTER

DIRECTOR - AVINASH AGARWAL, SUDHANSHU AGARWAL.

COO - SAIKAT GANGULY

HEAD OF OPERATIONS AND RMS AND DIRECTOR - SHIV KUMAR DAMANI VICE PRESIDENT AND HEAD OF FRANCHISEE DEVELOPMENT - ASIT KUMAR GHOSH

MISSION
To be a premier financial supermarket providing integrated investment services

VISION
To provide integrated financial services building investor wealth and confidence

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FUNCTIONAL DEPARTMENTS OF THE ORGANIZATION

ORGANIZATION OF BROKERAGE FIRMS
The firms that specialize in creating, trading and selling "securities" are often referred to as brokerage firms. Like any type of business, a brokerage firm has various departments to perform different functions, all of which are related in one way or another to the trading and selling of securities. However, not all firms have every department that follows. In fact, many small firms, called specialty firms or boutiques, perform just one of the functions.

BACK OFFICE
In BMA, Mr Jay Valani is the head of operating department and he takes care of the function of Back Office. The Back office function acts as a back bone of any share broking firm as the work which the personnel in back office has to perform is very crucial and important for the client as well as the firm. Any mistake from the personnel might become a liability for the firm, for e.g. if there is short delivery or pay in of clients share then for those shares auction takes place for which they have to pay the price for the same. Hence the back office function calls for the full concentration level of the personnel while doing his or her work. If the back office section detects any error it should draw the attention of the higher authority for the corrective action. Basically the back office function includes responsibilities like transaction processing, settlement and other administration functions.

CLIENT REGISTRATION DEPARTMENT (CRD)

In order to trade in the market the client has to fill up the agreement between the Client-Broker-Sub broker which is known as tripartite agreement and also know your client forms with necessary requirement attached to it, has to been send to CRD. In the mean while the client or
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sub broker has to feed the all information in masters and has to submit it in s/w which can be viewed by the client broker and sub brokers end. After receiving the forms the employees in the CRD verifies it and checks with the master, and everything is matched, it gives instructions for the activation of the client to the surveillance department. And once it get activated CRD informs to client by putting the details in the ftp site which can be viewed at their end and can start trading. And if the details do not match or any particular attachment is not there then they inform through ftp site where the client and sub broker can view the current status. If any changes has to made like change in name or address or in brokerage they have to inform to CRD and they get it changed.

DELIVERY AND ACCOUNTS DEPARTMENT

Basically the employees in the Delivery department have to look after the pay in and pay out of shares and Accounts department has to look after the pay in and pay out of funds. Pay in of shares Now a days pay in of the shares is done automatically which is known auto delivery out. NSE/BSE has the record of how much pay in of shares is due from the seller s broker. The bank in which the broker has his account, which is only for clearing member, the download of auto delivery out is taken through the NSE s site. Then the broker gets the print out of the delivery out report which shows whether NSDL/CDSL has received the pay in correctly or not. After confirming it from the bank the shares are sent from pse account to NSE/BSE and confirm the pay in. Suppose if they are any short delivery of shares then NSE/BSE gives debit to the pse account and similarly brokers debit it to sub brokers/clients account and then NSE/BSE can charge penalty for short pay in.

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Pay out of shares and funds When shares are purchased by the client then he gives money to sub broker which he delivers to pse and pse sends to nse/bse as funds pay in against which nse/bse gives payout of funds and also gives delivery of shares to pse and in return pse gives the pay out of shares and payout of funds to the respective sub brokers at present T+2 basis, which means the day of trade plus two days. Inter-settlement transaction Intersettlement transactions are the necessary adjustments between the broker and the client for which client has to give request to the broker, for e.g. if the client has sold 20 share of reliance in settlement number 154, but if the client request to broker/ sub broker to adjust this pay in against the payout in settlement number 158 then it is called as inter settlement transaction. d. Cash management and transfer of funds Cash/ funds is the lifeblood of any organization so management of cash and transfer of funds form a very important aspect of the accounts department. This includes constant check and reconciliation of the bank account of the sub broker. Preparation Bank Reconciliation statement Bank reconciliation state is very important as it helps the accountant to understand the balance of cash in the respective bank account and if there is any difference between in balance as per the sub brokers book and as per our books it has to be rectified immediately and should be informed immediately. There could be many reasons because of which there can be indifference in cash and bank balances and doing bank reconciliation statement can rectify these difference. Preparing the cash statement This statement gives the details of the transactions of previous days. It shows all the debits and credits given to each and every client, margin

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from the sub broker, net balances, net stock payment (normal/auction) and net stock receivable(normal/auction) Checking the Daily Funds Statements Daily funds give the details of pay in and pay out of funds and also show whether it was normal or auction. This report has to be checked by the accountant and find whether there is any short delivery, if yes then get the short delivery report from the delivery department. Undertake the work of recovery The job of recovery is very is very difficult and this is one of the important functions of the accounts personnel for this he has to be very strict person and see that the job is done.

THE SYNDICATE DEPARTMENT

The corporate and municipal finance departments do not sell securities. This task falls to the syndicate department, which coordinates the initial sale of new securities to both individual abd institutional investors. The work of this department is discussed in greater detail in the section on underwriting.

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ORGANIZATION STRUCTURE

Head Office

Regional Office

Regional Office

Regional Office

Branches & Franchises

Branches & Franchises

Branches & Franchises

Client

Business Associates

Client

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SERVICES AND PRODUCT OF THE ORGANIZATION

Wealth Management Services
BMA Wealth Creators Pvt., Ltd. operates as a financial services organization in India. It provides individual and corporate financial and investment solutions. They give their customer path so that they can efficiently increase their wealth. Expert team of BMA Wealth Creators always suggest their customer so that they can invest their money in such a way that it will make their wealth healthier.

Investment Advisory Services

Under BMA Wealth Creators Limited, it delivers advisory services to a cross-section of customers. The service is backed by a team of dedicated and expert professionals with varied experience and background in handling investment portfolios. They are continually engaged in designing the right investment portfolio for each customer according to individual needs and budget considerations with a comprehensive support system that focuses on trading customers' portfolios and providing valuable inputs, monitoring and managing the portfolio through varied technological initiatives. This is made possible by the expertise it has gained in the business over the years. It covers the latest of market news, trends, investment schemes and research-based opinions from experts in various financial fields.

Securities Broking Equities and Derivatives

BMA Wealth Services Pvt. Ltd is also gives the service of Security Broking, Equities and derivatives for their customer.

Distribution and Marketing of Equity and Mutual Fund IPO

Company also distributes different financial instruments like Demat Account and also does the marketing of equity, mutual fund and IPOs for their customers.

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Depository Services
Depository is an organisation which holds your securities in electronic (also known as book entry) form, in the same manner as a bank holds your money. Further, a depository also transfers your securities without actually handling securities, in the same day as a bank transfers funds without actually handling cash. BMA Wealth Creators Limited gives their customer depository services also.

Commodities Broking
Commodity trading is an investing strategy that involves the buying and selling of goods that are classified as commodities. There are many similarities between commodity trading and the trading activity involved with stocks. One key difference has to do with the difference between what is traded. Company also gives the services of commodity broking services for customers who want to trade in commodity.

Insurance Services
BMA Wealth Creators Pvt. Ltd also gives the insurance services to their customer. Company has tied-up with different insurance companies for insurance services. Company gives Life Insurance and General Insurance both.

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BMA WEALTH CREATORS DEALS WITH

EQUITY/SHARE BMA Wealth Creators deals with different equity and shares of different companies. Total equity capital of a company is divided into equal units of small denominations, each called a share. For example, in a company the total equity capital of Rs 2,00,00,000 is divided into 20,00,000 units of Rs 10 each. Each such unit of Rs 10 is called a Share. Thus, the company then is said to have 20,00,000 equity shares of Rs 10 each. The holders of such shares are members of the company and have voting rights. Experts of the company suggest people to invest their money in a right equity or share so that they can get good return from that. DEBT INSTRUMENT Company also deals with debt instrument. Debt instrument represents a contract whereby one party lends money to another on pre-determined terms with regards to rate and periodicity of interest, repayment of principal amount by the borrower to the lender. In the Indian securities markets, the term bond is used for debt instruments issued by the Central and State governments and public sector organizations and the term debenture is used for instruments issued by private corporate sector. DERIVATIVE Derivative is a product whose value is derived from the value of one or more basic variables, called underlying. The underlying asset can be equity, index, foreign exchange (forex), commodity or any other asset. Derivative products initially emerged as hedging devices against

fluctuations in commodity prices and commodity-linked derivatives remained the sole form of such products for almost three hundred years. The financial derivatives came into spotlight in post-1970 period due to growing instability in the financial markets. However, since their
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emergence, these products have become very popular and by 1990s, they accounted for about two third of total transactions in derivative products. COMMODITY A market that transacts business with commodities of all nature referred as commodity markets. Commodity market does not necessarily require you to buy or sell the commodities but you can even exchange them. Commodity market works on certain principles. Firstly the trading has to be done only for standard products. Secondly the transaction takes place through a future contract. According to this contract the commodities will be sold or bought on a future date. However the price at which they are sold will be the price agreed during the contract. Similarly commodity marketing also makes use of another type of contract called spot contract. In this contract the goods are to be transferred as soon as the contract is made. MUTUAL FUND A Mutual Fund is a body corporate registered with SEBI (Securities Exchange Board of India) that pools money from individuals/corporate investors and invests the same in a variety of different financial instruments or securities such as equity shares, Government securities, Bonds, debentures etc. Mutual funds can thus be considered as financial intermediaries in the investment business that collect funds from the public and invest on behalf of the investors. Mutual funds issue units to the investors. The appreciation of the portfolio or securities in which the mutual fund has invested the money leads to an appreciation in the value of the units held by investors. Mutual fund is for the customers who do not have the knowledge about share or stock market. In that case customer gives the investment amount, what they wish to invest in share market, to the company and company invest the amount on behalf of the customer in market. Experts of the company decides where to invest the money for their customer

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DEMAT ACCOUNT Company also provides their customer De mat Account. The term De mat, in India, refers to a dematerialised account for individual Indian citizens to trade in listed stocks or debentures. Company provides customer Demat Account facility who wants to transact in share market. The Securities Exchange Board of India (SEBI) requires the investor to maintain a Demat account. In a demat account shares and securities are held in electronic form instead of taking actual possession of certificates. A Demat Account is opened by the investor while registering with an investment broker (or sub broker). The Demat account number which is quoted for all transactions to enable electronic settlements of trades to take place. Access to the demat account requires an internet password and a transaction password as well as initiating and confirming transfers or purchases of securities. Purchases and sales of securities on the Demat account are automatically made once transactions are executed and completed. The demat account reduces brokerage charges, makes

pledging/hypothecation of shares easier, enables quick ownership of securities on settlement resulting in increased liquidity, avoids confusion in the ownership title of securities, and provides easy receipt of public issue allotments. It also helps you avoid bad deliveries caused by signature mismatch, postal delays and loss of certificates in transit. Further, it eliminates risks associated with forgery, counterfeiting and loss due to fire, theft or mutilation. Demat account holders can also avoid stamp duty (as against 0.5 per cent payable on physical shares), avoid filling up of transfer deeds, and obtain quick receipt of such benefits as stock splits and bonuses.

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Fees Involved in Demat Account There are four major charges usually levied on a demat account: Account opening fee, annual maintenance fee, custodian fee and transaction fee. All the charges vary from DP to DP.

Account Opening Fee

Annual Maintenance Charge

Custodian Fee Transaction Fee

Account-Opening Fee Depending on the DP, there may or may not be an opening account fee. BMA Wealth Creators and some private banks, such as ICICI Bank, HDFC Bank and UTI Bank, do not have one. However, players such as Globe Capital, Karvy Consultants and the State Bank of India do so. But most players levy this when you re-open a demat account, though the Stock Holding Corporation offers a lifetime account opening fee, which allows you to hold on to your demat account over a long period. This fee is refundable. Annual Maintenance Charge Company also charges maintenance charge to maintain Demat Account with the company. This is charges as yearly basis. This is also known as folio maintenance charges, and is generally levied in advance.

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Custodian Fee This fee is charged monthly and depends on the number of securities (international securities identification numbers ISIN) held in the account. It generally ranges between Rs 0.5 to Rs 1 per ISIN per month. DPs will not charge custody fee for ISIN on which the companies have paid one-time custody charges to the depository. Transaction Fee The transaction fee is charged for crediting/debiting securities to and from the account on a monthly basis. The fee also differs based on the kind of transaction (buying or selling). Some DPs charge only for debiting the securities while others charge for both. The DPs also charge if your instruction to buy/sell fails or is rejected. In addition, service tax is also charged by the DPs. In addition to the other fees, the DP also charges a fee for converting the shares from the physical to the electronic form or vice-versa. This fee varies for both demat and remat requests. For demat, some DPs charge a flat fee per request in addition to the variable fee per certificate, while others charge only the variable fee. Apart from all these charges one more charge is involved in share trading and that is known as: Brokerage Company gives the facility to their customer to sell or purchase stock and other products of the company. For this facility given by the company they charged some commission from the customer. This commission is generally known as brokerage. And also company, who deals with share and all other similar products, generally known as broking houses.

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Rates comparison of BMA Wealth Creators from other companies:Brokerage Rate 1. Advance Brokerage Scheme (ABS) BMA Wealth Creators takes the brokerage as advance for 12 months. As per the trading doing by the customer their brokerage is being reduced from the advance brokerage given by them. These rates are different in case of advance brokerage chosen by the customer. BMA Wealth Creators offers flexibility of low brokerage as your trade volumes go high to higher. You Pay (RS.) Variable Brokerage Time Limit.

Delivery 1,000 2,000 5,000 10,000 20,000 25,000 50,000 Features: 0.40 0.30 0.25 0.20 0.15 0.10 0.05

Intraday 0.04 0.03 0.025 0.02 0.015 0.01 0.005 12 Months 12 Months 12 Months 12 Months 12 Months 12 Months 12 Months

Flexibility to choosing slab rate as per your investment pattern. Time valid for 12 months. Trading allowed both in Equity and Commodity.

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Delivery Brokerage of BMA as per different Slab

0.45 0.4 0.35 0.3 0.25 0.2 0.15 0.1 0.05 0 1000 2000 5000 10000 20000 25000 50000 Delivery Brokerage of BMA as per different Slab

Intraday charges of BMA as per different slabs

0.045 0.04 0.035 0.03 0.025 0.02 0.015 0.01 0.005 0 1000 2000 5000 10000 20000 25000 50000 Intraday charges of BMA as per different slabs

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2. Unlimited Trade scheme (UTS):

No account opening charges Flexibility of choosing slab as per your trading pattern Free trading software and intraday charting Research call on mobile and trading market watch Client has the flexibility of trading through branch, online or integrated desk Intraday Delivery, Brokerage & Future 0.01 per Trade Option 1 Rupees per Lot (Each Leg)

Plan

Cash Market

Cash + Future + Option + Currency

Fees Offer Period

7500 3 Months

15000 3 Months

Exclusive of service tax

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Brokerage rate of other companies:Broking Houses SBICAP Securities Share khan Motilal Oswal Angel Broking ICICI direct India bulls HDFC Securities UTI Securities Religare Geogit Indiainfoline Delivery 0.50% 0.03% - 0.50% 0.30% - 0.50% 0.50% 0.75% 0.25% - 0.50% 0.50% 0.80% 0.20% - 0.30% 0.30% 0.50% Intraday trading 0.10% 0.03% - 0.10% 0.03% - 0.15% 0.02% - 0.03% 0.15% 0.05% - 0.10% 0.15% 0.15% 0.02% - 0.03% 0.03% 0.10%

Brokerage for Delivery

0.90% 0.80% 0.70% 0.60% 0.50% 0.40% 0.30% 0.20% 0.10% 0.00%

Brokerage for Delivery

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Brokerage for Intraday

0.16% 0.14% 0.12% 0.10% 0.08% 0.06% 0.04% 0.02% 0.00%

Brokerage for Intraday

Account Opening Charge Name of the Broking House BMA Wealth Creators Sherekhan India Bulls ICICIDirect.com SBI HDFC Securities GEOJIT FINANCIAL SERVICES Ltd Angel Broking UTI Securities India infoline SMC Indian Account Opening Charge NIL Rs.750 Rs.900 Rs.750 RS.500 Rs.799 RS.650 Rs. 740 Rs. 499 Rs. 555 Rs. 499

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Account Opening Charges

1000 900 800 700 600 500 400 300 200 100 0

Account Opening Charges

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MAJOR COMPETITORS
Among all the Indian brokerage companies, the top Brokerage Firms in India can be listed as below: Name Terminals Sub Brokers No. of Employees No. of Branches Name Terminals Sub Brokers No. of Employees No. of Branches Name Terminals Sub Brokers No. of Employees No. of Branches Kotak Securities Limited 4320 910 4008 350 Karvy Stock Broking Limited 1700 19000 3910 581 Indiabulls 2876 NA 5873 522

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Name Terminals Sub Brokers No. of Employees No. of Branches Name Terminals Sub Brokers No. of Employees No. of Branches

IL&FS Investmart Limited 1644 NA 1900 294 Motilal Oswal Securities 7923 890 2193 63

Name Terminals Sub Brokers No. of Employees No. of Branches Name Terminals

India Infoline 173 173 NA 605 Angel Broking Limited 5715

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Sub Brokers No. of Employees No. of Branches Name Terminals Sub Brokers No. of Employees No. of Branches Name Terminals Sub Brokers No. of Employees No. of Branches

NA 284 NA Anand Rathi Securities Limited 1527 320 4566 220 Geojit 627 247 343 314

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MICHAEL PORTERS FIVE FORCES ANALYSIS & SWOT ANALYSIS

Porter's five forces analysis is a framework for the industry analysis and business strategy development developed by Michael E. Porter of Harvard Business School in 1979. It uses concepts developed in Industrial Organization (IO) economics to derive five forces which determine the competitive intensity and therefore attractiveness of a market.

Attractiveness in this context refers to the overall industry profitability. An "unattractive" industry is one where the combination of forces acts to drive down overall profitability. A very unattractive industry would be one approaching "pure competition". Porter referred to these forces as the micro environment, to contrast it with the more general term macro environment. They consist of those forces close to a company that affect its ability to serve its customers and make a profit. A change in any of the forces normally requires a company to re-assess the marketplace. The overall industry attractiveness does not imply that every firm in the industry will return the same profitability. Firms are able to apply their core competences, business model or network to achieve a profit above the industry average.
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The five forces model relevant to the Indian brokerage industry The Bargaining Power of Customers Lack of Expertise Curtails Bargaining Power Retail investors often lack the knowledge and expertise in the financial sector that calls them to approach the broking houses. Low Product Differentiation Proves Beneficial the retail broking services provided by the various com panies are homogeneous with very low product differentiation. This allows customers to enjoy a greater bargaining power. The Bargaining Power of Suppliers Increased Dependence on IPOs -There is a growing dependence of corporate on broking houses with the rising number of IPOs coming to the market. The Intensity of Competitive Rivalry Move towards consolidation-Lot of brokerage com panies are moving towards consolidation with the smaller ones becoming either franchisees for the larger brokers or closing operations. Increased Focus of Banks in Retail Broking Various foreign banks like ABN Amro and others are planning to enter the Indian retail brokerage industry. Online Trading Competes with Traditional Brokerage There is an increasing demand for brokers. Threat of New Entrants Entry of Foreign Players New forms of trading including T+2 settlement system, dematerialization etc are strengthening the retail brokerage market and attracting foreign companies to enter the Indian industry.
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online trading due

to consumers

growing preference for internet as compared to approaching the

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The Threat of Substitute Products Alternative Investment Options Various alternative forms of

investment including fixed deposits with banks and post offices etc act as substitutes to retail broking products and services. Now even various banks provide similar type of services. They also give the same service of portfolio management and wealth management.

SWOT ANALYSIS
STRENGTHS Multiples engines of growth- an integrated financial services platform Well established and continuously expanding geographical footprints Unique, stable and scalable business model Adoption of technology -screen based trading, electronic matching, and paperless securities Centralized operations, effective risk management, and control on large interconnected operations spanning multiple locations, which is enabled by telecom connectivity and low costs Accessibility of capital increases and margin finance increases WEAKNESSES Lack of visible goodwill among minor players Lack of trust on companies by customers Psyche of people in India is converging Companies are still running on selling concept Weak infrastructural facilities Compliance with strict rules and norms set by govt.

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OPPORTUNITIES Structure of the industry, market size, and growth rates-huge potential in Indian market Government is continuously liberalizing the market Proactive and progressive nature of Indian brokerage industry (India ranks amongst top five globally in this segment) Economy wealth is still growing at healthy rate leading to for investment/capital requirement management business management is Huge market opportunity

service providers transforming

as Indian from

wealth

mere wealth

safeguarding to growing wealth. Leveraging technology to enable best practices and processes Corporates looking at consolidation/acquisitions/restructuring opens out opportunities for the corporate advisory business. THREATS High degree competition Fluctuations in government policies Political framework Developing Indian economy Companies must develop and implement physical, administrative and technical safeguards to achieve the following goals: Ensure the security and confidentiality of customer records and information Secure Secure against against any anticipated threats to or or hazards use of to the such security or integrity of such information. unauthorized access information that could result in substantial harm or inconvenience to any customer Corporate espionage.

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WORK PROFILE
At BMA Wealth Creators Pvt. Ltd., I learnt how the work of a Relationship Manager is done. I have studied and experienced the work of a Relationship Manager. Some Roles and Responsibilities of a Relationship Manager are as under: A relationship manager supervises the policies and procedures employed by a company to ensure a good level of customer care is provided to existing clients. ROLES 1. Be an expert on the equity market how, what when of the market. 2. Be a smart guy and be a lackey for the customer. 3. Have the ability and resources to sort out all problems of the customer preferably in a jiffy. 4. Run odd jobs, sort out problems, anticipate and solve problems. In reality the RM : 1. Has no training, or very little training by the time he starts talking to the customer. 2. He is under tremendous target pressure on day onwards 3. He has to achieve a lot of sales targets of a product that the organisation wants to sell damn what the client wants (that is incidental)

RESPONSIBILITIES
Customer Service A relationship manager works at all levels of a business from the head office to front-line customer-focused operations. He helps initiate and sustain an efficient customer service policy for all levels of the organization. A relationship manager typically delegates work tasks to a
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customer service team, but may also interact directly or via telephone with important customers or clients. He must also ensure that company's guidelines are strictly adhered to when managing customer concerns. Marketing A relationship manager plays a key role in marketing new products and retaining existing customers. She often maintains a computer database or develops software outlining the preferences and previous purchases of all registered customers. This information can then be used for mail distribution and cold-calling to market new products to the right customers. She also develops feedback procedures for customers and attends seminars to stay knowledgeable of any developments in marketing techniques that could be initiated by a firm, as stated on the Prospects website. Data Analysis A relationship manager produces reports on the level and nature of complaints fielded by an organization and submits them to other management. He also uses this data for research analysis to identify more efficient ways of dealing with complaints to save an organization time and money, and to improve its reputation. A relationship manager should have proficient written skills for reporting purposes and should be skilled in data analysis using computer software. Staff Supervision Relationship managers work closely with employees to provide guidance and to ensure the best resolution for the customer and the company is identified. A relationship manager should be adept at managing and training available staff resources. She should also be able to prioritize work activities, delegate responsibility to key personnel and multitask when required. A relationship manager should have excellent communication skills as she will be required to communicate with staff from all levels of a business.
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DESCRIPTION OF LIVE EXPERIENCES

My internship experience at BMA Wealth Creators Pvt. Ltd., Ahmedabad was very good. I have learnt so many things regarding stock market as well as corporate life. Nothing can be understood without practical knowledge. Things we study in a classroom will be clarified when we experience it in real world. I was given a task of cold calling at the office. List of contact numbers of unknown persons was handover to me and I supposed to call them and converting them into the prospective clients of the company. This thing was very helpful to check our communication skills and behaviour to strangers. I used to call people and 9 out of 10 times there was negative response. Sometime people behave rudely when I call them. But the useful thing is to keep our mind cool. It helps to increase the patience level of one. After doing cold calling my colleague and I have to go in the market for marketing our products. We were given pamphlets of the company and brochures of new brokerage plans. We had visited most of the commercial building on C.G. Road. Our job was to meet the different people and make them understand about our brokerage plans. After giving all details we try to convert them into our clients. The experience of meeting new people with different thoughts and ideas was indeed a great learning for us. We learnt how the behaviour of Relationship manager affects on the client. We used to collect the contact details of each person we met for further use for company. Sometime we had to come with empty hand at office. Sometimes people even not allow us to enter their office. At that moment we felt very disappointed but it happens when we are thrown into the real world. Each thing learnt during the internship was priceless and we had gained so much knowledge about the real world.

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We had enjoyed a lot with our guide and we had celebrated the Birthday of our Branch Manager also. Sometimes we were threatened by our guide but it all legal when you are in the corporate life and it is helpful to increase our performance. The overall experience of the summer internship was so much knowledgeable and helpful for my upcoming future.

PERFORMANCE
At BMA Wealth Creators Pvt. Ltd., we were required to attempt the work done by the Relationship Manager of the company. We were not given any kind of work target show our performance during the internship, but we were required to learn all the work of the Relationship Managers. During the early days of our internship I had done cold calling through telephone and gathered a 15 prospective people who are ready to meet us for further information. I used to go into the market for door to door marketing where I had gathered a so much knowledge regarding marketing skills. I had collected so many contact details of the people who are interested to deal with our company after my efforts during the meetings. So the overall performance of mine was very good and helpful to organisation as well as me. I had gained the knowledge of the stock market as well as the corporate life.

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LEARNING EXPERIENCES
Its hard to sum up the lessons you learn in an internship. I think the valuable realization Ive come to understand is that the companies that employ interns, generally understand your limitations. Some learning experiences: 1. An internship is a chance to pay your dues early on. People who dont have work experience often join the career force and find themselves a little behind the game. By gaining those early experiences as an intern, you (generally) earn yourself a bit more of a leg-up to start. 2. Internships give you exposure to new and interesting professional situationswith a safety net. The good internships are with companies who get that youre an intern. They give you real opportunities for practical application of skill, but are also there to catch you if there is a problem along the way. 3. You test your comfort zone. Until you really, really shake things up (like I have) you never really know what youre capable of. Sometimes it takes a burst bubble for you to really get a grasp of your full potential. 4. I understand how to talk the customers. For example first ask the about customers trading equity or commodities customer you have you doing equity that and how much brokerage give after say that equity that which company trading understand the BMA UTS

scheme. Customer says commodities

than I will understand the ABS scheme. Because UTS scheme not allowed in commodities market. 5. I have study about company franchisee term and condition. I

have learnt about company franchisee. Company offers franchisee

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of 50000RS and we take brokerage of 10000000 transaction on 1000 RS company take. 6. I have study about company derivatives. futures option and currency open and which type of I have learnt about

7. I have study about company demat account forms. I have learnt demat account forms and how to and residential proof. 8. I have met the some customer. facilities. 9. I understand BMA marketing strategy. First understand the customer business income and how much turnover they have done in per day and which facilities give of the others company. 10. I have seen online trading and I have done the how to operate BMA nest trader software and what are the function of the nest trader and how its work. I have learnt about customer behavior and how to understand about company scheme and other document requirement of company. For example pan card license

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BIBLIOGRAPHY

WEBSITES :

www.bmawc.co.in

www.investopedia.com www.moneycontrol.com www.equitymaster.com www.sebi.gov

www.nseindia.com

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