A Project Report On Analysis of Demat Account and Online Trading SUBMITTED TO

IAEER s PU!E I!STITUTE O" BUSI!ESS MA!A#EME!T

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%IMA!S%U SI!#% &'()*+ I! PARTIA, "U,"I,,ME!T O" POST #RADUATE PRO#RAMME -P#PBM.MBA/

0**+10*2* IAEER s PU!E I!STITUTE O" BUSI!ESS MA!A#EME!T -PIBM/3 PU!E Under guidance of Internal #uide4 Prof5 Prasad 6 B7at 8ompany #uide4 Mr5 Pradeep Pandey

DE8,ARATIO!

I, %imans7u Sing7 hereby declare that this project report is the record of authentic work
carried out by me during the period from 9t7 May 0**' to 9t7 :uly 0**' and has not been submitted earlier to any university or institute for the award of any degree/diploma etc.

HIMA !H" !I #H ame of the !tudent $ate%

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A8;!O<,ED#EME!T

I would like to e'tend my gratitude to my (roject guide, Mr5 Pradeep Pandey3 Branc7 Manager for his appreciable support and valuable time and guidance with providence of resources in terms of knowledge, theoretical gains and practical e'perience. A successful project can never be prepared by the singular effort of the person to whom project is assigned, but it also demands the help and guardianship of some conversant persons who undersigned actively or passively in the completion of a successful project. I would like to e'tend my thankfulness to him for providing me with e'cellent instructors of I!DIABU,,S whose guidance and co)operation have been of immense help for the successful completion of this project. I would also thanks to all staff members of Indiabulls for guidance and co)operation. I would also like to thank Mr Ramanpreet -Director/3 and Mr5 Prasad 65 B7at -Internal #uide/ who has been very cooperative and chose to remain anonymous, for giving me the opportunity to gain from their e'perience in selection and recruitment processes. *ithout their contributions, this project would have been rather incomplete.

HIMA !H" !I #H .

8OMPA!$ ,ETTER %EAD 8ertificate

,his is to certify that the organi-ational study project is a bonafide and sincere work of Mr5 %IMA!S%U SI!#% is original and has been made under my supervision in partial fulfillment of re.uirement for the award of (ost #raduation (rogramme In /usiness Management for the period of & months in the month of May and 0une &112. I am pleased to say that his performance during this period was% (oor/ !atisfactory/ #ood/ 3'cellent4.

Mr.(radeep (andey 5ompany #uide $ate%

I!STITUTE ,ETTER %EAD 8ertificate

,his is to certify that Mr. HIMA !H" !I #H of IAEER s (une Institute of /usiness Management has successfully completed the project work in partial fulfillment of re.uirement for the completion of (# course as prescribed by PIBM5 ,his project report is the record of authentic work carried out by him/her during the period from 6,H May to 6th 0uly &112 in which he has worked under my guidance.

Project Guide: 7Prof.Prasad Bhat)

$ean /$irector Academics% (Jagdish 8hadilkar

TAB,E O" 8O!TE!TS

Sr5!o 25 05 (5 95
I4 II4 III4 I>4 >4

TOPI8S
3'ecutive !ummary :bjectives and !cope of the project work Industrial overview 8ompany profile: History (rofile (roducts and services #rowth story !*:, Analysis

PA#E !O5 = ;)2 <1 <<)&=

>5 &5 =5 +5 '5 2*5 225 205 2(5 295

$epository system and $emateriali-ation

&?)+6 +9)61 6<)66 66)62 91)9< 9&)=9 == =? =; =2)?1

:nline ,rading and features

/enefits and problems in :nline ,rading

5omparative analysis of competitors

@esearch :bjectives and @esearch Methodology Analysis A Interpretation of the data and conclusion 5onclusion !uggestions /ibliography Anne'ure

E?E8UTI6E SUMMAR$
,he commencement of 3),rading and $emat has transformed the capital market in India. *ith the help of $emat and ,rading account, buying and selling of shares has become a much faster and even process than trading with the assistance of a physical broker. It provides for the assimilation of bank, broker, stock e'change and depository participants. ,his helps to get rid of the painstaking procedure of investing in stock e'change. ,oday, if one wants to invest in stock market, he has to contact a broker on phone or meet him personally to place order. A broker generally gives such importance and additional service only to high net worth customers. /ut the introduction of Internet trading, even a common or a small investor gets an opportunity to avail the service at an affordable price which is much lesser than what is charged by a physical broker over the phone. :nline trading has given customer a real time access to account information, stock .uotes elaborated market research and interactive trading. ,he prere.uisites of Internet trading are a computer, a modem and a telephone connection, registration with broker, a bank a/c and depository account. ,he introduction of depository service is considered as the beginning of the trading of !tocks B click. ,his means that you can arrange delivery of scrips sold anytime, anywhere to anyone by click of a mouse. $emateriali-ation facilitates to keep the securities in electronic form instead of paper form. It offers more advantageous than the physical certificate form. $espite the advantages of $emateriali-ation, the awareness levels among the investors relating to $emat account is not ade.uate because of numerous reasons. ,he investors are not sufficiently responsive of the concept of $emat account and the various financial institutions providing such services. ,his study involves understanding the various concepts of $emat and analy-ing the investment pattern of individuals in India and a study on Analysis of awareness among investors regarding :n Cine ,rading and $emateriali-ation has been submitted to (une Institute of /usiness management, (une in partial fulfillment of post graduate programme 7(#(/MDM/A4.

OB:E8TI6ES A!D ,IMITATIO!S

O@jectiAes4
An objective is the brainchild behind any project report. A project report will always have a certain objective which needs to be accomplished. Eollowing are the objectives behind the preparation of my project at Indiabulls securities Ctd. ,o 5ompare Indiabulls :nline share trading account with the big players in the Market i.e. I5I5I, 8A@>F, H$E5, I $IA I E:CI 3 . Identify the areas where I $IA/"CC! !cores above its competitors and what are its weak links. 8now the market potential of I $IA/"CC! considering the fact that there are many competitors in this field with some more firms e'pected to join the fray in the near future. ,his will be done with the help of a .uestionnaire. (rovide suggestions to the company regarding what else it can do to stand apart in this ever competitive field and thereby emerge as a market leader. @3CI3 53 M: 3F as well as with

,o understand the company, its achievements and tasks, products and services and also to collect information about its competitors, its products and services offered. After understanding and collecting information about the organi-ation and its competitors, a trainee will be able to work well for the organi-ation.

,o !tudy present online share trading

,imitations of study4
,he respondents who have not given any information are not included in the sample but do come under the population. It was not possible to cover each and every client of each and every broking house and hence a sample of <11 people was taken. ,he market share of all the online share trading products is only for the city of >aranasi. ,he market share of all the companies may differ in different cities. It may also differ nationally. $ue to the tough competition each A every broking firm is offering different schemes like, free opening A/c or different advance brokerage schemes where Indiabulls is lacking in this area.

Scope Of Study
It provides a complete knowledge of various fundamental concepts of share market and online trading. It will help in analy-ing the behavior of consumers and help in 8nowing the parameters of investment on which they would like to invest.. ,hrough this project I am not only bringing long term clients for my organi-ation but also creating a word of mouth publicity of my organi-ation by offering the best services to the clients so that more and more potential customer will come and stick to my organi-ation. Also through this project I suggest the organi-ation the behavioral pattern of investor towards different instruments. Erom the study I have learned very much, about the company as well as the strategy of the customers, which helps me a lot at my working days.

I!DUSTRIA, O6ER6IE<
Basic Information41
,he history of trading goes back to <2;+, when a doctor in Michigan placed the first :nline trade using 3 ,@A$3 technology. *hat began with a single click over <= years ago has now taken the world by storm. ,he concept was visuali-ed by one /ICC (:@,3@, a physicist and inventor who provide online .uotes and trading services to many "! firms like fidelity, 5harles !chwab, and Guick and @eilly. ,his led /ill to wonder why, as an Individual investor, he had to pay a broker hundreds of dollars for stock transaction. *ith incredible foresight, he saw the solution at handH someday everyone would own computers and invest through them with unprecedented efficiency and control. And today his dream has become a reality. *ith the global firms turning their eyes on I $IA as a country with immense potential for growth thanks to globali-ation and various economic reforms, the Indian stock markets are places receiving a lot of attention. ,rading and investing in share is gaining momentum and with the Internet facility virtually at every part of the country, it has become a reality for even a smallest person wanting to invest his surplus money but did not know where to go until recently. /esides familiarity with the stock market, the transaction process, and having an account at s broker or sub)broker, knowledge of basic investment information is also important to making investment decisions.

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8OMPA!$ PRO"I,E4

Type "ounded %eadBuarters

(ublic 7 !3% I<J4 &111 As Indiabulls Einancial !ervices Ctd. Mumbai, India.

;ey people

!ameer #ehlaut, 5hairman A 53: @ajiv @attan, (resident A 5E:, !aurabh Mitten $irector.

Industry

Einancial !ervices.

Products Employees

!ecurities, 5onsumer Einance, Mortgages, @eal 3state, (ower, @etail services Around 6111

<e@site

http%//www.indiabulls.com

%ISTOR$
<<

Indiabulls Einancial !ervices Cimited was incorporated on 0anuary <1, &111 as M/s :rbis Info,ech (rivate Cimited at ew $elhi under the 5ompanies Act, <29= with @egistration o. 99 ) <1+<;+. ,he name of 5ompany was changed to. Indiabulls Einancial !ervices (rivate Cimited on March <=, &11< due to change in the main objects of the 5ompany from Info,ech business to Investment A Einancial !ervices business. It became a (ublic Cimited 5ompany on Eebruary &?, &116 and the name of 5ompany was changed to M/s. Indiabulls Einancial !ervices Cimited. And now this company has achieved milestone by voted as ,he Foungest 5ompany of the year in 3,911. ,he group started its business as a stock)brokerage firm and pioneered online brokerage business in India before diversifying into other financial services areas such as consumer credit 7&1164 and mortgages 7&1194. ,he group partnered with Earallon 5apital to purchase landmark Mumbai land assets and is currently building one of the largest integrated commercial real estate projects in India 7valued at more than K& billion4. ,he group recently entered the power generation business and aims to have more than 9111 M* of power generation under construction before the end of &11;. Indiabulls Einancial !ervices Ctd is a public company and listed on the ational !tock 3'change, /ombay !tock 3'change, Cu'embourg !tock 3'change and Condon !tock 3'change. ,he market capitali-ation of Indiabulls is appro' "! K ;11 million, and the consolidated net worth of the company is appro' "! K 611 million. Indiabulls and its group companies have attracted "! K +11 million of e.uity capital in Eoreign $irect Investment 7E$I4 since March &111. Indiabulls ranks at ;&nd position in the list of most valuable companies in India. Indiabulls is promoted by three engineers from the Indian Institute of ,echnology 7II,4 $elhi. Eoreign Institutional Investors 7EIIs4 and foreign funds hold over =1 percent shareholding of Indiabulls. !ome of the large shareholders of Indiabulls are the largest financial institutions of the world such as Eidelity Eunds, 5apital International, #oldman !achs, Merrill Cynch, Cloyd #eorge and Earallon 5apital. ,here are appro'imately over 61,111 shareholders.

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PRO"I,E
Indiabulls is IndiaLs leading Einancial !ervices and @eal 3state 5ompany having over =61 branches across India. Indiabulls serves the financial needs of more than 6,91,111 customers with its wide range of financial services and products from securities, derivatives trading, depositary services, research and advisory services, consumer secured and unsecured credit, loan against shares and mortgage A housing finance. Having around 6111 @elationship Managers, Indiabulls helps its clients to satisfy their customi-ed financial goals. An India bull through its group of companies has entered into the Indian @eal 3state business in &119. It is currently evaluating several large)scale projects worth several hundred million dollars. Indiabulls Einancial !ervices Ctd is a public company and listed on the ational !tock 3'change, /ombay !tock 3'change, Cu'embourg !tock 3'change and Condon !tock 3'change. ,he market capitali-ation of Indiabulls is appro' "! K ;11 million, and the consolidated net worth of the company is appro' "! K 611 million. Indiabulls and its group companies have attracted "! K +11 million of e.uity capital in Eoreign $irect Investment 7E$I4 since March &111. Indiabulls ranks at ;&nd position in the list of most valuable companies in India. Indiabulls is promoted by three engineers from the Indian Institute of ,echnology 7II,4 $elhi. Eoreign Institutional Investors 7EIIs4 and foreign funds hold over =1 percent shareholding of Indiabulls. !ome of the large shareholders of Indiabulls are the largest financial institutions of the world such as Eidelity Eunds, 5apital International, #oldman !achs, Merrill Cynch, Cloyd #eorge and Earallon 5apital. ,here are appro'imately over 61,111 shareholders of the company. Indiabulls Einancial !ervices is a retail financial services company providing a diverse array of financial products and services, through its nationwide network of over +11 Indiabulls offices, and services over &,91,111 clients spread across <<1 cities in India. Indiabulls, along with its subsidiary companies, offer consumer loans, brokerage and depository services, personal loans, home loans and other financial products and services to the retail markets. Indiabulls, which has a workforce of over <1,111 full time employees, reported "! K =1 million in (rofit before ,a' and "! K 69 million in et (rofit for the first nine months of the current financial year. /usiness of the company has grown in leaps and bounds since its inception. Indiabulls became the first company to bring E$I in Indian @eal 3state through a 0> with Earallon 5apital Management CC5, a respected "! based investment firm, Indiabulls has <+

demonstrated deep understanding and commitment to Indian @eal 3state market by winning competitive bids for landmark properties in Mumbai and $elhi. Indiabulls #roup is one of the top business houses in the country with business interests in @eal 3state, Infrastructure, Einancial !ervices, @etail, Multiple' and (ower sectors. India bulls #roup companies are listed in Indian and overseas financial markets. ,he et worth of the #roup e'ceeds "!$ & billion. India bulls has been conferred the status of a M/usiness !uper brandN by ,he /rand 5ouncil, !uper brands India. India bulls Einancial !ervices is an integrated financial services powerhouse providing 5onsumer Einance, Housing Einance, 5ommercial Coans, Cife Insurance, Asset Management and Advisory services. India bulls Einancial !ervices Ctd is amongst =; companies constituting M!5I ) Morgan !tanley India Inde'. India bulls Einancial is also part of 5C!ALs model portfolio of +1 /est 5ompanies in Asia. India bulls Einancial !ervices signed a joint venture agreement with !ogecap, the insurance arm of !ocietO #enerale 7!oc#en4 for its upcoming life insurance venture. India bulls Einancial !ervices in partnership with MM,5 Cimited, the largest commodity trading company in India, is setting up IndiaLs 6th Multi)5ommodities 3'change. India bulls @eal 3state Cimited is IndiaLs third largest property company with development projects spread across residential projects, commercial offices, hotels, malls, and !pecial 3conomic Pones 7!3Ps4 infrastructure development. India bulls @eal 3state partnered with Earallon 5apital Management CC5 of "!A to bring the first E$I into real estate. India bulls @eal 3state is transforming <6 million s.ft in <= cities into premium .uality, high)end commercial, residential and retail spaces. India bulls @eal 3state has diversified significantly in the following business verticals within the real estate space% @eal 3state $evelopment, (roject Advisory A Eacilities Management% @esidential, 5ommercial 7:ffice and Malls4 and !3P $evelopment. (ower% ,hermal and Hydro (ower #eneration.

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ABOUT "OU!DERS4
,he fast paced growth, diversification and consolidation of the #roup has been possible due to the vision and leadership of the co)founders of Indiabulls. Sameer #e7laut is the 5hairman, 53: and *hole ,ime $irector of Indiabulls. !ameer is an engineer from IIT3 Del7i -2''>/ and has worked internationally with %alli@urton in its international services business in <229. He has utili-ed his e'perience with the international best practices and professional work culture at Halliburton to lead Indiabulls successfully. RajiA Rattan is the (resident, 5E: and *hole ,ime $irector of Indiabulls. @ajiv is an engineer from IIT3 Del7i -2''9/ and has rich e'perience in the oil industry, having worked e'tensively across the globe in highly responsible assignments with Sc7lum@erger. @ajiv has managed remote e'ploration projects providing evaluation services for different clients in India as well as abroad. Saura@7 Mittal is a $irector at Indiabulls. $eclared the best graduating student in IIT3 Del7i in -2''>/, !aurabh was also one of the engineers selected by Sc7lum@erger to work for its international services business in <229 and gained e'perience of working in various global locations. He graduated as a /aker !cholar with an M/A from the %arAard Business Sc7ool. He has also developed in)depth understanding of international financial markets.

Board Of Directors
AM3 Mr.!ameer #ehlaut Mr.!hamsher !ingh Mr.Aishwarya 8atoch Mr.8artar !ingh #ulia Mr.#agan /anga Mr.!aurabh 8 Mittal Mr.8aran !ingh Mr.@ajiv @attan $3!I# A,I: 5hairman A *hole time $irector $irector $irector $irector $irector $irector $irector *hole ,ime $irector

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I!DIABU,,S SE8URTIES ,TD5

Indiabulls !ecurities Cimited is IndiaLs leading capital markets company with All)India (resence and an e'tensive client base. Indiabulls !ecurities is the first and only brokerage house in India to be assigned the highest rating /G Q < by 5@I!IC. Indiabulls !ecurities Ctd is listed on !3, /!3 A Cu'embourg stock e'change. ,he company through various types of brokerage accounts provides product and services related to purchase and sale of securities listed in !3 and /!3. It also provides depository services, e.uity research services, mutual fund, I(: distribution to its clients. ,he company provides these services through on)line and off)line distribution channel.

(ower Indiabulls

Indiabulls !ignature Account

$epository !ervices @I ,rading

.

I(: :nline

Indiabulls 3.uity Analysis

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PoCer India@ulls -PIB/

(ower Indiabulls 7(I/4 is the advanced online trading platform from Indiabulls !ecurities Cimited, the leading stock broker in India with a branch network spread across the country. (I/ provides the best in the class internet trading features and delivers a seamless and rich online trading e'perience for its users. *hether we are a $ay),rader who buy/sell stocks during the day or a !tock @esearch Analyst who believes in taking a stock trading call after doing e'tensive fundamental research A technical analysis, (I/ fulfills our every stock trading need from the comfort of our desktop. (I/ comes with a whole host of online features for the internet trading users ranging from real)time stock prices, to live trading reports, charting, ews @oom. Eor Market 3'perts A !tock @esearch Analysts, (I/ provides features like ,echnical Analysis to help them analy-e the behavior of a particular stock using popular technical analysis indicators like !imple Moving Average, !tochastic, @elative !trength Inde', etc. /esides, one can also view Market !tatistics section to view the dayLs ,op #ainers / Cosers, Most Active, Most >olatile, etc. Eor day traders, (I/ offers trading features like Intraday 5harting, Hourly ,ick Cist and Alerts to help them track the movement of underlying scrip / inde' during the day. /esides, one can also create multiple Market *atch windows to view the latest market price of the stocks they want to track. (I/ provides an integrated online trading platform for the internet trading community to invest in e.uity, EA:, :nline I(:s and base their decision on sound fundamental research and technical analysis. It also provides various kinds of trading reports, each developed to

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cater to internet trading usersL distinct needs. Eor e'., we can access et (ortfolio @eport to view a list of stocks that are available in our portfolio. ,o view our open positions in EA: segment, we can access EA: 5omplete (osition @eport. (I/ also provides details about our current dayRs obligations in 5urrent :bligations @eport. *ith whole host of advanced online trading features, (I/ aims to fulfill the needs of every genre of investors A help them gain profits in every possible way. "eatures of PIB4 Cive !treaming Guotes East :rder 3ntry ,ic by ,ic Cive 5harts ,echnical Analysis Cive ews and Alerts

Signature Account
*ith Indiabulls !ignature account you will always remain on top of your investments. It provides you the platform to trade in 3.uity and $erivatives. *ith an unmatched service and nationwide presence, the Indiabulls !ignature account comes bundled with a variety of e'clusive features. Ease of trading Q *ith Indiabulls !ignature account we have the fle'ibility to place your orders either by logging on the website, calling at the branch or walking in the branch. Dedicated SerAice Branc7 and Relations7ip Manager4 we can get in touch with our @elationship Manager and !ervice /ranch for all our trading related re.uirements. PoCer India@ulls -PIB/% *e can trade smarter and faster using the (ower Indiabulls application. Access the broad spectrum of sophisticated trading tools and get an edge in the stock markets. Online Payment #ateCays% "se Indiabulls online payment gateways facility and get instant credit in our ,rading Account. Indiabulls currently provide online gateway payment facility with four major banks Q H$E5, I5I5I, ASI! and I$/I. IPOs Q Indiabulls provides fle'ibility to apply in ongoing I(:s through either online or offline channels. Eor applying online, we do not need to fill tedious forms and <;

write che.ues. *e can apply conveniently in I(:s from the comfort of our home / office through our *ebsite/(I/. Eor applying offline, we can contact our @elationship Manager/ !ervice /ranch. Portfolio TracDer% *e can track our investments online through Indiabulls portfolio tracker functionality. *e can conveniently track the daily movement, notional / booked profits and losses in your portfolio. EBuity Analysis Report Q A .ualified and dedicated team of e.uity analysts at Indiabulls publishes various research reports. *e can view these reports to gain insight into the companies of your interest. !eCs Room4 ,he ews @oom provides real)time news from stock)markets, corporate sector, economy and other segments that have a bearing on the market sentiment. MarDet Statistics% ,his functionality facilitates tracking the market trend by providing us real time data on top gainers, top losers, volume toppers and most volatile stocks. Mo@ile PoCer India@ulls -MPIB/% M(I/ is a mobile)phone based application, developed e'clusively for Indiabulls customers. "sing M(I/, we can view the live market rates of your favorite stocks and futures contracts on your mobile device. ,hus with M(I/, we can always remain connected with the market, even on the move. Electronic 8ontract !otes on Email% ,his facility enables us to get digitally signed 3lectronic 5ontract otes on email within &6 hours of e'ecuting trades in our ,rading Account.

Depository SerAices
Indiabulls is a depository participant with the ational !ecurities $epository Cimited and 5entral $epository !ervices 7India4 Cimited for trading and settlement of dematerialised shares. Indiabulls performs clearing services for all securities transactions through its accounts. *e offer depository services to create a seamless transaction platform Q e'ecute trades through Indiabulls !ecurities and settle these transactions through the Indiabulls $epository !ervices. Indiabulls $epository !ervices is part of our value added services for

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our clients that create multiple interfaces with the client and provide for a solution that takes care of all your needs.

India@ulls EBuity Analysis

Indiabulls 3.uity Analysis complements its e.uity broking and advisory services with high .uality comprehensive report which can be accessed online. @esearch report assess the potential strength and investment risk by doing in)depth and e'haustive analysis of operational and financial performance of company, (eer group analysis, present Industry scenario using advanced and sophisticated forecasting tools and models. ,hese research reports identify, e'amine and distill attractive investment opportunities to help you in building and maintaining your ideal portfolio. !alient features of Indiabulls 3.uity Analysis% 5overs report of more than 961 company "pdated on a daily basis !corecard on Eundamentals, >aluations and risk (eer Analysis >aluation of potential growth Industry !cenario 3'pansion plan $etails of Mergers and Ac.uisitions

!RI Trading
on)@esident Indians 7 @Is4 can also enjoy the state of the art :nline trading (latforms of Indiabulls to trade in Indian 5apital Markets. *e, at Indiabulls, provide @I clients a fast and secure trading platform which would perfectly cater to @IRs ,rading re.uirements. ,o start trading through Indiabulls , the following simple steps need to be followed%

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:pening of :nline @I ,rading and @I $emat account with Indiabulls% #et in touch with your nearest Indiabulls service branch 7/ranch Cocator4 to complete all the ,rading and $emat account opening formalities. :pening of a @I (I! account with A'is bank% A @I is re.uired to open a (I! account 7(ortfolio Investment !cheme4 with a designated bank in India. Indiabulls !ecurities Cimited has tied up A'is bank to offer this facility to @Is to enable them to trade in the Indian 5apital markets.

#RO<T% STOR$

0***1 India bulls Einancial !ervices Ctd. established one of IndiaLs first trading platforms *2 with the development of an in house team. 0**21 Indiabulls e'pands its service offerings to include 3.uity, EA:, *holesale $ebt, *( Mutual fund, I(: distribution and 3.uity @esearch. 0**(1 India bulls ventured into Insurance distribution and commodities trading. *9 5ompany focused on brand building and franchise model. India bulls came out with its initial public offer 7I(:4 in !eptember &116. India bulls started its consumer finance business. 0**91 India bulls entered the Indian @eal 3state market and became the first company to *> bring E$I in Indian @eal 3state. India bulls won bids for landmark properties in Mumbai. 0**>1 India bulls has ac.uired over <<9 acres 71.6? km&4 of land in !onepat for residential *& home site development. Merrill Cynch and #oldman sac, one of the renowned investment banks in the world have increased their shareholding in India bulls. India bulls is a market leader in securities brokerage industry, *ith around +<T share in online trading, Earallon 5apital and its affiliates, the worldLs largest hedge fund

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committed @s. &111 million for India bulls subsidiaries >i-. India bulls 5redit !ervices Ctd. and India bulls Housing Einance Ctd. India bulls entered in a 91/91 joint venture with $CE, 8enneth /uilders A !teel ,ycoon Mr. C Mittal promoted C M India Internet venture Ctd. ac.uired ;.&T $evelopers 78/$4. 8/$ has ac.uired +9.; acres 7<69,111 m&4 of land from stake in India bulls 5redit !ervices Ctd. $elhi $evelopment Authority through a competitive bidding process for @s 691 crore to develop residential apartments. India bulls Einancial !ervices Ctd. is included in the prestigious Morgan !tanley 5apital International Inde' 7M!5I4. 0**&1*= Earallon 5apital has agreed to invest @s. =,661 million in India bulls Einancial !ervices Ctd. India bulls ventured into commodity brokerage business. India bulls has received an Min principle approvalN from #overnment of India for development of multi product !3P in the state of Maharashtra. $ev (roperty $evelopment plc. has subscribed to new shares and has also ac.uired a minority shareholding from the 5ompany. India bulls Einancial !ervices Ctd. /oard resolves to Amalgamate India bulls 5redit !ervices Cimited and demerge India bulls !ecurities Cimited.

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Sales Turn oAer and Profit and Earning per s7are Of IndiaBulls
Mar R19 Mar.1= Sales TurnoAer :ther Income ,otal Income ,otal 3'penses Operating Profit (rofit :n !ale :f Assets (rofit :n !ale :f Investments #ain/Coss :n Eoreign >@! Adjustment :ther 3'traordinary ,otal 3'traordinary ,a' :n 3'traordinary et 3'tra :rdinary #ross Profit Interest (/$, $epreciation $epreciation :n @evaluation :E assests (/, ,a' !et Profit (rior Fears Income/3'penses $epreciation for (revious *ritten /ack/ (rovided $ividend $ividend ,a' 2&=5*9 <.+? <=;.6< =&.;9 2*952' )) )) )) )) )) )) )) )) 2*>5>& <+.+; 2&.<; &.<? )) 21.1< ++.+ >&5=2 )) )) )) )) )) )) )) +?+.+? <&1.1< 0>(5(& )) )) )) )) )) )) )) )) )) )) )) )) 920522 +<.62 +;1.=& ?.&9 )) ==+.1= &<2.== 99(59 )) )) )) )) &2*5(( &.;& =<+.<9 &1<.16 9*'50' Mar.1? Mar R1; 2309*5' 23&+&50 > > +.6= &.9& <,&66.6 <,=;;.? < ? 629.=2 69;.+< 2300=5' =9>50& 9 )) )) )) )) )) )) )) )) )) )) )) )) )) )) )) )) 230(*59 =9+5=0 & =?.2? =;1.?9 <?.=2 )) ;+<.16 &91.6 >+*5&9 +2&.&= ;+;.& ?.<= Mar R12 03**(5* ' &.? &,119.? 2 ?2;.+; 230*95= 2 )) )) )) )) )) )) )) )) 230*=59 2 <,1&;.= = <?;.?= ?.;< )) <?1.29 ?<.9 ''59> )) )) )) )) &+

$ividend 7T4 Earnings Per S7are /ook >alue 3.uity @eserves Eace >alue

)) 950& &=.=9 9++ &

)) 2>5+2 +&.19 <,=96.= + &

)) 0952' )) +=.== <,6=+.1 1 &

)) 005'2 )) 91.=2 +,<2;.& & &

)) (5'0 )) 91.?+ +,&<2.< 6 &

1400 1200 1000 800 600 400 200 0 Mar '05 Mar.06 Mar.07 Mar '08 Mar '09

Operating Profit Gross Profit Net Profit Earnings Per Share

&6

S<OT A!A,$SIS

Strengt7s
>ery !trong /rand Image. Cow 5harges with respect of its !ervices. Eree annual maintenance of $emat account. Eacility to trade in office. >ery #ood 5ustomer 5are "nit.

<eaDnesses
:nly :ne branch in >aranasi 5ity. *eak Advertisement (olicies. ,rading on /!3 stocks is not available 5ommodity trading is not available in /ranch

&9

&=

Opportunities
Carge "ntapped Market. :pportunity to educate investors about their products A inspire them to invest more A encourage others. #ood :pportunity to 5ash its /rand Image and (eople ,rust.

T7reats
(resence of very strong competitors Cike, 8arvy, Angel /roking, !hare khan, @eligare etc. Aggressive marketing by competitors. Cow brokerage offerings by competitors.

&?

DEPOSITOR$ S$STEM I! I!DIA4

,he Indian capital market witnessed an e'plosive growth between mid 3ighties and mid ineties. ,he total number of companies listed in the stock e'changes had grown by ?&.+T from &?&2 in 6?1& in <229. ,he market capitali-ation of the companies listed with stock e'changes had gone up from @s.&<, 111 crores in <2;9 to more than @s.6, 91,111 crores in <229.,he secondary market trading activity also gathered momentum. ,here has been tremendous growth in secondary market trading at /!3 and like 5alcutta, !3. :ther regional e'changes ew $elhi have also become active players in the market. ,his sudden growth

had e'posed the limitations of the system. ,he system used was not able to withstand the strain caused by the tremendous growth in the securities market. ,he entire securities market started e'periencing a gridlock, posing obstacles in its growth. Moreover, this sudden growth has also magnified the risks that have always been plaguing the Indian system, vi-., credit risk and systematic risk. International institutional investors wanting to invest in India had become apprehensive about the reliability of the trade settlement mechanisms used in the country, which did not match international standards. /esides affecting the inflow of foreign capital, the lack of efficient settlement systems had affected all those operating in the stock market, be it institutional investors, individual investors or brokers. ,hey suffered due to lost trading days 7li.uidity4, lost scrips improperly paid dividends, mistaken registration, unnecessary financing cost, inappropriate risk like failure of counter party and fraud.

&;

Era of Scripless and Paperless trading4

,o sort out the above mentioned problems and to restore the investors confidence in the stock market the depository system was set up. It was against this background that the #overnment of India enacted the $epositories Act in <22=, which an era of scrip less trading and settlement, efficient market infrastructure, investor protection, reduced risks and transparency of transaction in the securities market. Depository Act3 2''&4 ,he concept of $epository is known to the world since <262 when the first depository was set up in #ermany. ,here were <<& depositories in operation by the year &11<. 3very depository operates under a countryUs specific law and regulation in order to ensure safety, li.uidity, rights and liabilities to the security holders.

Depository4
A depository is an organi-ation where the securities of an investor are held in electronic form. A depository can be compared to a bank. ,o avail of the services of a depository, an investor has to open an account with the depository through a depository participant, just as he opens an account with the bank. Holding shares in the account is a kin to holding money in the bank At present, India has only two depositories) ational !ecurities $epository Ctd. 7 !$C4 and 5entral $epository !ervices Ctd 75$!C4. !$C is the first depository in the county, which is promoted by three major financial institutions ) "nit ,rust of India, Industrial development /ank of India and ational !tock 3'change of India Cimited. ,he second depository of the country 75!$C4 is set up in <222 by the /ombay !tock 3'change and /ank of India However, most of the services offered by both these depositories are similar. ,oday almost all the companies listed in demateriali-ed from with !$C are available with 5$!C.

&2

BA!;
Holds funds in accounts ,ransfers funds between accounts !afekeeping of Money

DEPOSITOR$
Holds securities in accounts ,ransfers without handling securities !afekeeping of securities

Depository participant4
A depository participant is an agent appointed by the depository and is authori-ed to offer depository services to all investors. An investor cannot directly open a $emat account with the depository. An investor has to open his account through a $( only. ,he $( in turn opens the account with the depository. ,he $( in turn takes up the responsibility of maintaining the account and updating them as per the instructions given by the investor from time to time. ,he $( generates and provides the holdings statement from time to time as re.uired by the investor. ,hus, the $( is basically the interface between the investor and the depository. ,he person who holds a $emat account is a beneficiary owner. In case of a joint account, the account holders will be beneficiary holders of that joint account. ,he $emat account number of the beneficiary holder7s4 is known as the /: Id. A $( id is the number of the depository participant allotted by the depository.

"unctions of Depository%
In the depository system, securities are held in depository accounts, which is more or less similar to holding funds in bank account. ,ransfer of ownership of securities is done through simple account transfers. ,his method does away with all the risks and hassles normally associated with paperwork. 5onse.uently, the cost of transacting in a depository environment is considerably lower as compared to transacting in certificates. ,he depository system also allows distribution of dividends through the @/IUs 35! system, whenever the participating company has agreed to such services. :ther entitlements such as bonuses, split)ups are also directly effected by the +1

depository into the investorUs account. ,he following can be held in the depository 7electronic4 form% !hares 7listed or unlisted4 ,!tocks ,/onds ,$ebentures ,@/I @elief /onds ,#overnment !ecurities 7through a primary $ealer4 ,"nits of Mutual Eunds ,5ommercial (aper ,Money Market Instruments etc.

OPE!I!# A DEMATERIA,IEATIO! A88OU!T -DEMAT A)8/

$emat refers to a demateriali-ed account. 0ust as we have to open an account with a bank if we want to save your money, make che.ue payments etc, we need to open a demat account if we want to buy or sell stocks. !o it is just like a bank account where actual money is replaced by shares. *e have to approach the $(s 7remember, they are like bank branches4, to open our demat account. $emat account allows you to buy, sell and transact shares without the endless paperwork and delays. It is also safe, secure and convenient. CetLs say our portfolio has <11 of !atyam, 91of !u-lon, &1 of I5I5I /A 8, 91 of ,ech Mahindra and <11 of ,5! shares. All these will show in our demat account. !o we donLt have to possess any physical certificates showing that us own these shares. ,hey are all held electronically in our account. As we buy and sell the shares, they are adjusted in our account. 0ust like a bank passbook or statement, the $( will provide you with periodic statements of holdings and transactions. Individuals, companies, ,rusts, (artnership firms, @Is, H"E, /anks and Institutions are allowed to open a depository account with any depository through a depository participant. ,he investor would need to e'ecute a standard form giving all his details, bank details, instruction details, nomination details and off)course photograph and signature. Along with this form, the investor would also have sign an agreement with the depository participant which usually forms a standard part of the account opening process. ,he details on the form have to be matched with a photocopy of the investorUs passport, driving license etc. to certify the mentioned details. If the investor is an @I, then the client will have to provide overseas address, provide copy of @/I Approval, if any. ,he @/I Approval is not mandatory for opening of a $(. Account but is re.uired to receive shares into the account when purchased through the secondary market.

+<

A4 Procedure for purc7asing dematerialiFed securities

,he procedure for purchasing demateriali-ed securities is also similar to the procedure for buying physical securities. <. Investor instructs $( to receive credits into his account in the (rescribed form. ,here may be one time standing instruction or !eparate instruction each time to receive credits. &. Investor purchases securities in any of the stock e'changes linked to $epository through a broker. +. /roker receives payment from investor and arranges payment to 5learing corporations. 6. /roker gives instructions to $( to debit clearing account and credit 5lientLs account. Investor receives shares into his account by way of book entry.

+&

B4 Procedure of selling dematerialiFed securities

,he procedure for selling demateriali-ed securities in stock e'changes is similar as selling physical securities. ,he only major difference is that instead of delivering physical securities to the broker, the investor instructs his $( to debit his demat account with the number of securities sold by him and credit the brokers clearing account. ,he procedure for selling demateriali-ed securities is given below% <. Investor sells securities in any of the stock e'change linked to depository through a broker. &. Investor instructs his $( to debit his demat account with the number of securities sold and credit the brokerLs clearing account. +. /efore the pay)in)day, broker of the investor transfers the securities to clearing corporation. 6. ,he broker receives payment from the stock e'change. 9. ,he investor receives payment from the broker for sale of securities in the same manner as received in case of sale of physical securities.

++

BE!E"ITS O" DEMATERIA,IEATIO! A88OU!T

Primary @enefits4 21 Safety% If we are holding our shares, bonds etc in physical 7paper4 form, there are
chances of its theft, mutilation, and loss. Moreover, we are also e'posed to the risks of fake papers, bad)delivery or delays at the time of transfer of physical securities. However, in $3MA, accountsH we can preserve our long)term investments safely and securely.

01 8onAenience4 *hen we want to sell our demateriali-ed shares or redeem our

debentures in $3MA, accountH there are no hassles of filling up transfer forms, sending redemption re.uests or any other messy, costly and time)consuming paper work. *e can conveniently transfer our securities through electronic transfers or just by signing one U$elivery Instruction !lipL, which is nothing but our che.uebook for $3MA, Accounts.

Ot7er Benefits4
Apart from the safety and convenience, there are lot more advantages of opening $3MA, accounts. Here are few of the most necessary reasons for having a $3MA, account. *e can park most of our investments including shares, bonds, debentures, #old "nits, !5 and bonds in our $3MA, account. *e might not immediately reali-e the benefits of having all the investments in $3MA, form. Eor instance, if we change our residence, we just have to write to the $( 7$epository (articipant4, which +6

automatically gets our new address registered with all the companies where we have invested our money. *e do not have to remember the due dates of maturity of bonds, account, which is linked with our $3MA, account. *e receive all the dividends and interests directly in our linked bank account. In case of bonus, rights, split, merger or any other corporate actions, everything takes place automatically. *e do not have to do anything e'cept to file the physical intimation letters sent by the @egistrar and ,ransfer Agents. !5 and

debentures, as the redemption proceeds are automatically credited to our bank

owadays with the advent of online trading, we can perform online all the activities associated with buy, sell and transfer of shares.

*ith a single nomination in your $3MA, account, we are nominating our legal heirs to all the investments held by us. Eor many public issues of bonds and debentures of reputed and trustworthy companies, it is necessary to have a $3MA, Account, as the companies do not allot securities in paper form. !ince most of the process of buying and selling demateriali-ed securities is electronic, there are no chances of signature mismatch. 3limination of problems related to selling securities on behalf of a minor. 3limination of problems related to change of address of investor, transmission etc. @eduction in handling of huge volumes of paper periodic status reports.

!o with $emateriali-ed !ecurities, the entire process of transferring shares, bonds and other financial assets has become smooth and swift. $3MA, Accounts offer numerous advantages +9

and hence it makes sense for the retail investors to open $3MA, Accounts as early as possible.

O!,I!E TRADI!#4

5hange is the law of natureN. ,here were times when man was a *anderer or a normal. He himself had to go place to place in search of food, water and now everything is available at your doorstep just at the click of the mouse. ,he growth of information technology has affected almost all sectors of life. every information at our doorstep. *hen Internet has affected all sectors he could Mstock marketsN the most important player of the economy, has remained far behindV Cike all other sectors Internet has set its feet in the stock markets also. ,he !tock Market system provides single, nation wide securities. It enables CA investors in one part of the country to trade at the best .uotes with an investor located in any other part of the country through the members of the stock e'change and subse.uently clears and settle the trade in an efficient and cost effective manner. ,he primary objective of the !tock Market is to provide clear opportunity to the investors throughout the country to trade any security irrespective of the si-e of the order or the broker through whom the order is routed. ,his provides the facility to e'ecute the buy order at the lowest price in the stock market located anywhere in the country without any e'tra cost to the investors. ,here will be no trading floor in the e'change. Instead, each trading member will have a computer at his own office anywhere in India which will be connected to the central computer system at the !3 through leased line or >!A,s 7very small aperture terminals4, for an interim transition period of = months A subse.uently by satellite link. >!A,s are relatively smaller dishes similar to dish antenna for cable ,> A have the benefit of not being very e'pensive. A satellite network makes it possible to connect almost all the parts of the nation .uickly as it is easy to install, as against the ground lines such as dial up modems += Internet has enabled us to get

leased lines, which are prone to disruptions, satellite links, on the other hands ensure high speed, availability and .uality of the connection. ,his mode of trading is known as W:nline ,radingW

Introduction of online trading in India

:nline trading started in India in Eebruary &111 when a couple of brokers started offering an online trading platform for their customers. Online trading @y !SE G BSE4 ,he central computer located at the 3'change is connected to the workstations of the /rokers through satellite using >ery !mall Aperture ,erminals 7>!A,s4. :rders placed at based on price and time priority. /oth the e'changes have switched over from the open outcry trading system to a fully automated computeri-ed mode of trading known as /:C, 7/!3 :n Cine ,rading4 and It facilitates more 3A, 7 ational 3'change Automated ,rading4 !ystem. efficient processing, automatic order matching, faster e'ecution of

trades and transparency. ,he scrips traded on the /!3 have been classified into RAR, R/<R, R/&R, R5R, RER and RPR groups. ,he RAR group shares represent those, which are in the carry forward system 7/adla4. ,he RER group represents the debt market 7fi'ed income securities4 segment. ,he RPR group scrips are the blacklisted companies. ,he R5R group covers the odd lot securities in RAR, R/<R A R/&R groups and @ights renunciations. key regulator governing !tock 3'changes, /rokers, $epositories, $epository participants, Mutual Eunds, EIIs and other participants in Indian secondary and primary market is the !ecurities and 3'change /oard of India 7!3/I4 Ctd.

+?

:bjectives of (resent ,rading !ystem%

@educe and eliminate operational inefficiencies inherent in manual system Increased trading capacity in !tock Market Improve market transparency 3liminate unmatched trades and delayed reporting (rovide for on)line and off)line monitoring control and surveillance of the market. (romote fairness and speedy matching !mooth market operations using technology while retaining the fle'ibility of conventional treading practices !et up various limits, rules and controls centrally. 5onsolidate the trades data on electronic media to interface will the brokerUs back office system (rovide public information on scrip prices, indices for all users of the system (rovide analytical data for use of !tock Market.

+;

ME8%A!I8S O" O!,I!E TRADI!#

5CI3 , /@:83@
!,:58 3S5HA #3

(laces an order the net of the /rokerLs website through the distinctive Id code

Accepts the order, 5hecks the clientLs Identity and (laces the :rder

Accepts the order after checking the scrip limit of the broker for the day

,he settlement of the deal 7buy/sell order4 gets reflected in his $emat account.

(ays the 3'change through his owns account and receives it from the client account.

@eceives the money and completes the settlement

,he client is intimated about the e'ecution of the deal by e)mail.

+2

"eatures Of Online Trading

,he :nline ,rading is having many features which make it most suitable for the investors to go for. !ome of these features are as follows% "reedom of Information4 ,he Internet can provide a new sense of control over your financial future. ,he amount of investment information available online is truly astounding. ItRs one of the best aspects of being a wired investor. Eor the first time in history, any individual with an Internet connection can% 8now the price of any stock at any time @eview the price history of any stock in chart format Eollow market events in)depth @eceive a wealth of free commentary and analysis about stock markets and the global economy 5onduct e'tensive financial research on any company 8ontrol our money4 :ne of the great appeals of using an online trading account is the fact that the account belongs to you, and is under your direct control. *hen you want to buy or sell stock, you no longer need to call your broker on the phoneH hope that he is in the office to place your orderH possibly argue with the broker about the orderH and hope that the transaction is e'ecuted instantly. Access to t7e marDet4 At the most basic level, an online trading account gives you more agility in buying 61

and selling stocks. ,his is through sophisticated information streams, dedicated trading platforms and sophisticated tools for accessing the markets. Offers greater transparency4 :nline trading offers you greater transparency by providing you with an audit trail. ,his involves a complete integrated electronic chain starting from order placement, to clearing and settlement and finally ending with a credit into your depository account. All these stages are subject to inspection, thus bringing in transparency into the system.

Reduces t7e settlement risD4 ,his method of trading reduces the settlement risk for the investor, as in this case all short sell orders are s.uared off at the specified cut)off time and not allowed to be carried forward. Instant trade order confirmations4 3very trade is confirmed immediately and you will receive an on)screen confirmation following every trade with full details for your records. ,his avoids costly errors that would have been discovered when it is too late. Integrated Accounts4 :ur /ank, $epository and ,rading account are integrated for our convenience. >arious broking houses provide access to many of the popular banks.

6<

BE!E"ITS O" O!,I!E TRADI!#4

2/ ,ess 8ostly4 ,he most significant advantage of the :nline broking is the cost reduction in the brokerage. $ue to the power of the Internet one has the privilege of becoming the clients of really large brokerages with the benefits of enjoying the low charges before enjoyed only by the big players. As the $( account has got linked to the trading account most players do not charge a minimum transaction cost thus truly allowing one to buy a single share and achieve meaningful rupee price averaging whatever be your buying power. 0/ Peace of Mind4 :ne can never have complete peace of mind but online investing does away with the hassles of filling up instruction slips, visits to the broker for handing over these slips and conse.uent costs.

(/ ;eeping Records% ,he site one trades on keeps a record of all transactions down to une'ecuted orders and cancelled orders thus keeping one abreast of all your transactions &6 hours a day. o paperwork means more time at oneLs disposal for research and analysis.

6&

95/ Ease of trade4 It is the ease of doing the trade through net, with a click of mouseH one can buy or sell any share that is demateriali-ed. :ther than the above)mentioned advantages, Internet trading provides some additional advantages to the investors, brokers and also helps the nation to 5hanneli-e the resources. et trading would increase competition in the market hence increase in the bargaining power of the investors. ,he entire communication between the investor, broker and e'change would take place within milliseconds.

PROB,EMS O" O!,I!E TRADI!#

.2/ SerAer not found% ,his may appear on oneLs screens when he is desperately trying to get out of an unprofitable position. !ome of the online sites are providing a telephone number for use in case their sites are overloaded or their server down. 05/ 8onnectiAity of t7e BroDer Cit7 !SE% @ecently I5I5I $irect had a connectivity problem with the !3 for two and halfhours during trading hours. ,his problem is rare but be alive to its possibility. (5/ 8y@er attacD4 In the event of a malicious attack on the systems of oneLs broker he is protected only if the company is taking proper precautions against such attacks and if proper backup is regularly been taken. He may like to choose a brokerage that has a stated security policy and contingency plan in place. 9/ !on1aAaila@ility of a seamless interface% As a client one will access the !3 through a server of the online brokerage and this may involve .ueuing delays. If a number of client access the server the server takes its own time sending the orders to the !3 server. He must check out the seamlessness of this interface before selecting an online brokerage. ,he faster the

6+

orders are processed the more seamless is the interface. >5/ !on1 aAaila@ility of personaliFed adAice4 If one like to ask his broker WAaj kya achcha lag raha haiW he may not be able to do so. If he wants advice on a particular stock in his portfolio he may not even be able to get that. &5/ Margin4 If Internet trading alone is not fast and furious enoughH many people are trading on margin. ,hat is where the brokerage firm lends you money by leveraging his account, allowing him to buy a large amount of securities by putting up only a small amount of money. He may have forgotten what he read in the small print of his agreement, but the brokerage firm has the right to change the maintenance margin re.uirements without any warning or notice to him. In fact, the firm has the right to li.uidate his securities holdings 7and it can pick and choose which ones4 without any notice to one if he fail to meet the margin call. And there he was leveraged to the hilt, hoping to hit a home run when he discovered that he is re.uired to make a large deposit that he cannot make. ,he ne't thing one know, the firm is selling off his securities at a point in time that is not the best for him. ,hese are the perils of trading on margin.

66

Recent DeAelopments4

,he current recession in the economy is affecting the stock market which has triggered a slowdown in the opening of new account by the depository participants 7$(s4. Eaced with the sudden dip in the number of new accounts being opened, the $(s are devising ways to attracts customers. :n offer is Interactive >oice @esponse 7I>@4 for the latest update on $emat accounts and services through the Internet. ,here is a 6&T decline in the number of new account opening. (erhaps the volatility in the market has made investors worry. Analysts said there was booms in $emat account opening as retail customers were riding high on the loans e'tended to pick up initial public offers. Most of these $emat accounts are now dormant. !everal $(s are planning to launch Interactive >oice @esponse 7I>@4 units and $emat services on the et, ,hrough these I>@ units , investor will be able to know the current value of their portfolio, current holdings, transaction list, etc. !ome $(s are providing $emat services on the internet to enable customer to access their account and get the holding and transaction statement on a daily basis..

69

8OMPARATI6E A!A,$SIS O" 6ARIOUS STO8; BRO;I!# 8OMPA!IES I! 6ARA!ASI O! T%E BASIS O" A8TI6ATIO! 8%AR#ES3 BRO;ERA#E3 SER6I8ES

Angel BroDing
5riteria $emat a/c opening charges /rokerage intra day, delivery AM57Annual Maintenance 5harges4 ,rading funding intra day, delivery $ebit period Mode of trading Margin money !oftware installation charges Angel stock broking ?91 9 paise,91 paise @s.+11 =times,6 times7minimum stock @s 911114 ,D& $ays /oth online and offline 9111 o e'tra charges

6=

IndiaInfoline

6?

5riteria
$emat a/c opening charges

India infoline
991

/rokerage intra day, delivery

9 paise,91 paise

AM57Annual maintaince charges4

IC

,rading funding,intraday,$elivery

<1 times, 6times

$ebit period

,D&

Mode of trading

/oth online and offline

Margin Money

&111

!oftware Installation charges

o e'tra charges

Religare Securities 5riteria

$emat a/c opening charges /rokerage intra day, delivery @eligare !ecurities

991 6 paise,61 paise 6;

AM57Annual maintaince charges4 ,rading funding,intraday,$elivery $ebit period Mode of trading Margin Money !oftware Installation charges

&91 =times,6 times7minimum stock @s 91,1114 ,D& /oth online and offline o limit o 3'tra charges

I8I8I Direct

5riteria
$emat a/c opening charges /rokerage intra day, delivery

I8I8I Direct @s.2?9 91(aise,?9(aise

62

AM57Annual maintaince charges4 ,rading funding,intraday,$elivery $ebit period Mode of trading Margin Money !oftware Installation charges

@s.911 =times,6 times7minimum stock @s 91,1114 ,D& /oth online and offline o limit o 3'tra charges

RESEAR8% OB:E8TI6ES
T7e SurAey <as 8onducted <it7 "olloCing O@jectiAes4
,o find out the point of view of Investors regarding the services provided by $(. ,o find the awareness of $emat account among employed investors.

91

 ,o find (otential customers of India/ulls in >aranasi 5ity. ,o know about problems faced in trading by traders in >aranasi city. ,o know the challenges faced in trading by traders in >aranasi city. ,o assess the perception of traders about Indialbulls securities private limited in >aranasi 5ity. ,o determine the satisfaction levels of consumers with Indiabulls securities private limited in >aranasi city. ,o assess the satisfaction level of traders regarding services of India bulls !ecurities private limited in >aranasi city. ,o know the market share of Indiabulls. ,o know the competitors of India/ulls in >aranasi city.

RESEAR8% MET%ODO,O#$
!ample si-e !ources of data !ampling used in data collection ) ) ) <11 (rimary data A !econdary @andom sampling

9<

Primary Data% ,he re.uired data was collected by way of distribution of .uestionnaires
to investors at random and by way of telephonic interviews and online distribution of .uestionnaire.

,ools/,echni.ue of data collection 1 (ersonal Interview

5lose observation !urvey conduction

Secondary data4 - already e'isting data is called secondary data. I collected

them by following method Q

Internet /ooks

Area selected for data collection

6aranasi

DATA I!TRPRETATIO! A!D A!A,$SIS

Huestions regarding pro@lems in trading41 G.<4 $o you invest in share marketV

9&

a4 Fes b4 o

70 60 50 40 30 20 10 0 Yes No. of respondents NO % of respondents

Interpretation% )+9T people invest in share market in >aranasi city

9+

G.&4 (lease tick the following%) a.4 ,ype of trading you generally do intraday / delivery /both

45 40 35 30 25 20 15 10 5 0

intraday

delivery

both

No. of respondents

per enta!e of respondent

Interpretation% ) &=T people prefer intraday trading, 6&. T prefer delivery and +&T do both type of trading.

96

b.4,ime period of investment less < month/ <)= month /more than = month.

50 40 30 20 10 0 "ess than 1 #onth 1 to 6 #onth $ore than 6 #onths

No. of respondents

% of respondents

Interpretation% ) Ma'imum people prefer to invest for < to = months and amount of investment for majority of people was found to be between @s. &1,111 to @s. < lac.

G.+4 In your opinion what is biggest problem in trading%) a.4 Cack of knowledge or e'perience b.4 "nsatisfactory services of broking firms c.4 Market uncertainty d.4 5harges by broking firm

99

50 40 30 20 10 0
a.% "a & of &no' led!e or e(perien e b.% )nsatisfa tory servi es of bro&in! fir# s .%$ar&et *n ertainty d.%+har!es by bro&in! fir#

No. of respondents

% of respondents

Interpretation% ) Most of the people facing biggest problem in trading, Cack of knowledge and believe that unsatisfactory services by their broking firms create problem in trading while &9 T people consider charges of broking firm as a problem in trading.

9=

G.64 *hat is your opinion about the problem of market uncertainty in tradingV a.4 ItRs a big challenge b.4 ItRs manageable c.4 ItRs an opportunity

60 50 40 30 20 10 0 a.%,t-s a bi! b.%,t-s .%,t-s an hallen!e #ana!eable opport*nity No. of respondents % of respondents

Interpretation% ) majority of people consider market uncertainty as a big problem, around <2T people consider it as an opportunity and rest says it is manageable.

9?

G.94 $oes unsatisfactory services provided by the broking firm create problem in tradingV a.4 Fes b.4 A little c.4 o

60 50 40 30 20 10 0 Yes a little No

No. of respondents

% of respondents

Interpretation %) 96.9T consider the "nsatisfactory services provided by the broking firm create problem in trading, &1.9T people consider it a little and &9T were not agree to that.

9;

G.=4 *hich charge do you consider charged by the broking firms is a problem in tradingV a.4 /roking charge b.4 "ndisclosed hidden charge c.4 Annual maintenance charge

40 35 30 25 20 15 10 5 0

a.%.ro&in! har!e

b.%)ndis losed hidden har!e

.%/nn*al #aintenan e har!e

No. of respondents

% of respondents

Interpretation% ) Most people considered undisclosed hidden charges and annual maintenance charge as their problem in trading.

92

Huestions regarding perception of traders regarding India@ulls41 G.<4 ame of the broking firm with which you are making your investmentV a.4 India bulls b4 !hare khan c4 Angel /roking d4 @eligare e4 8arvy f4 :thers

45 40 35 30 25 20 15 10 5 0

a.%,ndia b*lls

b.%0hare &han

/n!el .ro&in!

1eli!are

2arvy

others

No. of respondents

% of respondents

Interpretation% ) Market share of I $IA/"CC! is around +9T in >aranasi.

=1

G.&4 Are you satisfied in trading with your broking firmV a.4 !atisfied b.4 either satisfied nor dissatisfied c.4 $issatisfied

50 40 30 20 10 0
a.%0atisfied b.%Neither satisfied nor dissatisfied .%3issatisfied

No. of respondents

% of respondents

Interpretation% ) Most of the people are satisfied with their broking firm.

=<

G.+4 Are you aware of products and services offered by India bullsV a.4 Fes b.4 o

60 50 40 30 20 10 0 Yes No. of respondents NO % of respondents

Interpretation% ) 6?.<T of people are aware of products and services offered by India bulls.

=&

G.64 Are you satisfied with themV a.4 !atisfied b.4 either satisfied nor dissatisfied c.4 $issatisfied

60 50 40 30 20 10 0
a.%0atisfied b.%Neither satisfied nor dissatisfied .%3issatisfied

No. of respondents

% of respondents

Interpretation% ) Majority of people are satisfied with them.

=+

G.94 Are you satisfied with the charges charged by India bulls for opening $) Mat accountV a.4 !atisfied b.4 either satisfied nor dissatisfied c.4 $issatisfied

60 50 40 30 20 10 0
a.%0atisfied b.%Neither satisfied nor dissatisfied .% 3issatisfied

No. of respondents

% of respondents

Interpretation% ) Most of people are satisfied with the charges charged by India bulls for opening $emat account.

=6

G.=4 *hat is your perception regarding IndiabullsV a.4 #ood b.4 average c.4 /ad

50 40 30 20 10 0 4ood /v!. .ad

No. of respondents

% of respondents

Interpretation% ) 3'cept <& people 7<?.?T4 perceive positive perception about I $IA/"CC!.

=9

G.?4 (lease specify reasonsV a.4 !ervices b.4 /rokerage c.4 @elationship managerRs support d.4 ,ransparency good /average / bad good /average / bad good /average / bad good /average / bad

60 50 40 30 20 10 0

Good

A vg.

B ad

Good

Avg.

B ad

a.4!ervice

b.4/rokerage

c.4@elationship managerRs support

Good

Avg.

B ad

Good

A vg.

B ad

,ransparency

No. of respondents

% of respondents

Interpretation% ) In case of transparency and services Indiabulls is considered good and average in case of brokerage and relationship managerRs support.

==

G.;4 At which office location you are more comfortable with Indiabulls%) a.4 8uber comple' b.4 Arihant comple'

60 50 40 30 20 10 0 2*ber o#ple( No. of respondents /rihant o#ple( % of respondents

Interpretation% ) 5lients of I $IA/"CC! are more comfortable at Arihant comple'.

=?

8O!8,USIO!
Most of the traders consider unsatisfactory services of broking firm as biggest problem in trading. Most of traders perceive Indiabulls as a good broking firm. In case of transparency and services Indiabulls is considered good and average in case, of brokerage and relationship managerRs support. (eople aware about Indiabulls are satisfied regarding product and services by Indiabulls. Market share of Indiabulls in >aranasi is about +9T

=;

=2

SU##ESTIO!S
/roking charges should revised to make them more competitive. More relationship managers should be appointed to increase market share. @elationship managerRs support to the clients should be improved. Eacility to trade on commodity and /!3 should be added. Indiabulls should conduct some kind of mock 5lasses for new Investors who even donLt know about share market. ,here should be employee I$)5ard for them so that *hen they go on it shows good impression and Identity of employee. India/ulls :rgani-e training (rogram for their e'isting clients once or twice in a year.

?1

BIB,IO#RAP%$
www.Indiabulls.com www.Investopedia.com www.powerindiabulls.com www.bseindia.com www.nseindia.com www.moneycontrol.com www.e.uitymarket.com www.demat.com

?<

A!!E?URE

Huestionnaire4
G.<4 $o you invest in share MarketV a4 Fes b4 o G.&4 (lease tick the following% a.4,ype of trading you generally do b.4Amount of investment intraday / delivery /both less than &1 k / &1k)l lacs /more than < lacs

c.4,ime period of investment less than < month/<)= month /more than = month

G.+4 In your opinion what is biggest problem in trading% a.4 Cack of knowledge or e'perience b.4"nsatisfactory services of broking firms c.4Market uncertainty d.4 5harges by broking firm

G64 *hat is your opinion Rabout the problem of market uncertainty in tradingV a.4 ItRs a big challenge b.4 ItRs manageable c.4 ItRs an opportunity

G.94 $oes unsatisfactory services provided by the braking firm create problem in tradingV a.4 Fes b.4 (artially c.4 o

G.=4 *hich charge do you consider charged by the companies is a problem in tradingV a.4/roking charge b.4 "ndisclosed hidden charge c.4Annual maintenance charge

?&

G.?4 ame of the company with which you are making your investmentV a.4 India bulls b.4 @eliance money c.4 !hare khan d.4 :ther

?+

G.;4 Are you satisfied in trading with your broking firmV a.4 !atisfied b.4 either satisfied nor dissatisfied c4 $issatisfied

G.24 Are you aware of products and services offered by IndiabullsV a.4 Fes b.4 o

G.<14 Are you satisfied with the charges charged by indiabulls for opening account 7with annual maintenance charge4V a.4 !atisfied b.4 either satisfied nor dissatisfied c.4 $issatisfied

$)Mat

G.<<4 *hat is Four perception regarding India /ullsV a.4 #ood b.4 Average c4 /ad

G.<&4 (lease specify reasonsV a.4 !ervices b.4 /rokerage c.4 @elationship managerRs support d.4 ,ransparency

good/average / bad good / average / bad good / average / bad good / average / bad

G.<+4 At which office location you are more comfortable with Indiabulls% a.4 8uber comple' b.4 Arihant comple'

?6