Project Report on

Demat Account”
“

By
Chintan P. Gandhi
Gunjan S. Shah
1
 PROJECT TITLE

“ Demat Account”
A report submitted in
fulfillment of the
requirements of MBA
program
COMPANY GUIDE FACULTY GUIDE
Mr. Harshit Sur Poonam Purohit
MBA – Finance, MBA- HR, Phd(pursuing)
Relationship Manager, BIMS,
Sharekhan Ltd., Baroda.
Baroda.

SUBMITTED BY
Chintan Gandhi
520843213
&
Gunjan Shah
520843078
2
 MBA 3rd Semester-
Finance

PREFACE

The successful completion of this project was a unique

experience for me because by visiting many place and
interacting various person, I achieved a better knowledge
about sales. The experience which I gained by doing this
project was essential at this turning point of my career
this project is being submitted which content detailed
analysis of the research under taken by me.

The research provides an opportunity to the student to

devote his/her skills knowledge and competencies
required during the technical session.

The research is on the topic “Share Khan Demat

Account”.

3
 Acknowledgement
It was a great opportunity for us to work with Sharekhan Ltd., pioneers in the field
of Finance Industry. We are extremely grateful to all those who have shared their
expertise and knowledge with me and without whom the completion of this project
would have been virtually impossible.
Firstly, we would like to thank our Company Guide Mr. Harshit Sur who has been
a constant source of inspiration for us during the completion of this project. He
gave us invaluable inputs during our endeavor to complete this project.

We are indebted to all staff of Sharekhan Ltd for their valuable support and
cooperation during the entire tenure of this project. Not to forget, all those who
have kept our spirits surging and helped delivering our best.

We thank our faculty guide Mrs. Poonam Purohit who helped us out at every
critical situation that We faced in our project and gave us her valuable advice to
solve problems.

We want to give our special thanks to all members of BIMS, for providing us
opportunity to work on this project with this great organization.
At last We would like to thank all the respondents met in the preparation, who
gave their valuable time to provide us required information and their honest
support to complete our project in time.
Chintan Gandhi
REG. NO: - 520843213

4
 &
Gunjan Shah
REG.NO: - 520843078

CERTIFICATE OF

COMPLETION

This is certify that the Final Project report entitled “Demat Account” submitted

Summer Internship report of the requirement for the degree of MBA, is a work carried

out by Chintan Gandhi, Reg No. – 520843213 and Gunjan Shah, Reg No. - 520843078

under my supervision and guidance.

Comapany Guide:

(_______________________)

5
 TABLE OF CONTENTS FOR PROJECT

REPORT

S.no Details of Document Page No.

1 Introduction of Share Market 7
2 Company Profile 17
3 SWOT Analysis 28
4 Discussion on Training 30
5 Demat Account of Sharekhan Ltd. 34
6 Buying and Selling 57
7 Need for the Study 61
8 Competitors 62
9 Objective 77
10 Research Methodology 78
11 Data analysis and Interpretation 86
12 Observation and Finding 96
13 Limitation 98
14 Suggestion 100
15 Conclusion 102
16 Bibliography 103

Introduction of Stock
Market
6
Indian Stock Markets are one of the oldest in Asia. Its history dates back to nearly
200 years ago. The earliest records of security dealings in India are meager and
obscure. The East India Company was the dominant institution in those days and
business in its loan securities used to be transacted towards the close of the
eighteenth century.

By 1830's business on corporate stocks and shares in Bank and Cotton presses took
place in Bombay. Though the trading list was broader in 1839, there were only half
a dozen brokers recognized by banks and merchants during 1840 and 1850.
The 1850's witnessed a rapid development of commercial enterprise and brokerage
business attracted many men into the field and by 1860 the number of brokers
increased into 60.

In 1860-61 the American Civil War broke out and cotton supply from United
States of Europe was stopped; thus, the 'Share Mania' in India begun. The number
of brokers increased to about 200 to 250. However, at the end of the American
Civil War, in 1865, a disastrous slump began (for example, Bank of Bombay Share
which had touched Rs 2850 could only be sold at Rs. 87).

In 1887, they formally established in Bombay, the "Native Share and Stock
Brokers' Association" (which is alternatively known as "The Stock Exchange"). In
1895, the Stock Exchange acquired a premise in the same street and it was
inaugurated in 1899. Thus, the Stock Exchange at Bombay was consolidated.

Thus in the same way, gradually with the passage of time number of exchanges
were increased and at currently it reached to the figure of 24 stock exchanges.

7
TRANSACTION CYCLE:

Decision to Placing
trade Order

Funds or
Securitie Transaction Trade
s Execution
Cycle

Settlement
of trades Clearing
of Trades

A person holding assets (Securities/Funds), either to meet his liquidity needs or to

reshuffle his holdings in response to changes in his perception about risk and return
of the assets, decides to buy or sell the securities. He selects a broker and instructs
him to place buy/sell order on an exchange. The order is converted to a trade as
soon as it finds a matching sell/buy order. At the end of the trade cycle, the trades
are netted to determine the obligations of the trading member’s securities/funds as
per settlement cycle. Buyer/seller delivers funds/ securities and receives
securities/funds and acquires ownership of the securities.

A securities transaction cycle is presented above. Just because of this Transaction

cycle, the whole business of Securities and Stock Broking has emerged. And as an

8
extension of stock broking, the business of Online Stock broking/ Online Trading/
E-Broking has emerged.

At the end of the American Civil War, the brokers who thrived out of Civil War in
1874, found a place in a street (now appropriately called as Dalal Street) where
they would conveniently assemble and transact business. In 1887, they formally
established in Bombay, the "Native Share and Stock Brokers' Association" (which
is alternatively known as “The Stock Exchange "). In 1895, the Stock Exchange
acquired a premise in the same street and it was inaugurated in 1899. Thus, the
Stock Exchange at Bombay was consolidated.

HISTORY OF ONLINE TRADING:

Online stock trading is very old concept for big institutions who trade
thru private networks owned by Reuter's "Instinet" and a system called
"Posit" since 1969. But it becomes internet based for lay men only in late 90s.

Funny, that actually idea was first time used by a company making Beer
called "WIT beer" to help its shareholders trade its shares. That’s how "WIT
Capital" was born which is considered pioneer of this concept. It was made
mainstream and household name by a offshoot of Charles Schwab & Co called
eSchwab which is used by millions of people in USA. Lot of NRI's i know play
in US stock market even when they come to India for holidays via website
of eSchwabe.

There are other serious players like E*trade, DATEK online etc. All this
companies ask you to start account with US $5000 and you can buy and sell
stock using these funds. They also issue you a check book which you can use
to make payments from this account. Or use their ATM card to withdraw cash
from your stock trading account.

Today practically every big name brokerage firm offers online stock trading
as it reduces their costs. Earlier they had army of brokers on phone with
clients executing trade, which is done by computers accepting orders from

9
clients directly. This firm now offers human access to high net worth accounts, and
to rest at charge per trade.

E- Broking - A small beginning:

You have some money to dabble with. Trading shares on BSE/NSE has always
been your dream. When will you ever find the time? And besides, the hassle of
finding a broker is not easy. Realizing there is untapped market of investors who
want to be able to execute their own trades when it suits them, brokers have taken
their trading rooms to the Internet. Known as online brokers, they allow you to buy
and sell shares via Internet.

There are 2 types of online trading service: discount brokers and full service
online broker. Discount online brokers allow you to trade via Internet at reduced
rates. Some provide quality research, other don’t. Full service online brokerage is
linked to existing brokerages. These brokers allow their clients to place online
orders with the option of talking/ chatting to brokers if advice is needed. Brokerage
rates here are higher. 5Paisa.com, ICICIDirect.com, IndiaBulls.com,
Sharekhan.com, Geojit securities.com, HDFCsec.com, Tatatdw.com,
Kotakstreet.com are some of the online broking sites in India. With Net trading in
securities and rapid consolidation between multiple stock exchanges, the
international securities marketplace is fast becoming a "global village" through the
creation of a universal virtual equity market.

Compared to the Western countries, online trading is still in its infancy in India.
With trading turnover at around Rs. 10 crores per day from online trading
compared to a combined gross turnover of around Rs. 9000-10,000 crores handled
by the BSE and NSE together, online trading has a long way to go.

INTERNET TRADING IN INDIA:

10
In the past, investors had no option but to contact their broker to get real time
access to market data. The Net brings data to the investor on line and net broking
enables him to trade on a click. Now information has become easily accessible to
both retail as well as big investors.

The development of broking in India can be categorized in 3 phases:

1. Stock brokers offering on their sites features such as live portfolio manager, live
quotes, market research and news to attract more investors.
2. Brokers offering on line broking and relationship management by providing and
offering analysis and information to investors during broking and non-broking
hours based on their profile and needs, that is, customized services.
3. Brokers (now e-brokers) will offer value management or services such as initial
public offerings on line, asset allocation, portfolio management, financial planning,
tax planning, insurance services and enable the investors to take better and well-
considered decisions.

In the US, 82 per cent of the deals are done on line. The European on line broking
market is expected to be of $8 billions and is likely to raise five fold by 2002. In
India, presently Internet trading can take place through the order routing system,
which will route client orders to exchanges trading systems for execution of trades
on stock exchanges (NSE and BSE). This will also require interface with banks to
facilitate instant cash debit or credit and the depository system for debit or credit of
securities.

OBJECTIVES OF INTERNET TRADING

• Increase transparency in the markets.
• Enhance market quality through improved liquidity, by increasing quote
continuity and market depth.
• Reduce settlement risks due to open trades, by elimination of mismatches.
• Provide management information system (MIS).
• Introduce flexibility in system, to handle growing volumes easily and to
support nationwide expansion of market activity.

11
 • Besides, through Internet trading three fundamental objectives of securities
regulation can be easily achieved, these are: Investor protection, creation of
a fair and efficient market and, reduction of the systematic risks.

Other leading cities in stock market operations:

Ahmedabad gained importance next to Bombay with respect to cotton textile

industry. After 1880, many mills originated from Ahmedabad and rapidly forged
ahead. As new mills were floated, the need for a Stock Exchange at Ahmedabad
was realized and in 1894 the brokers formed "The Ahmedabad Share and Stock
Brokers' Association".
What the cotton textile industry was to Bombay and Ahmedabad, the jute industry
was to Calcutta. Also tea and coal industries were the other major industrial groups
in Calcutta. After the Share Mania in 1861-65, in the 1870's there was a sharp
boom in jute shares, which was followed by a boom in tea shares in the 1880's and
1890's; and a coal boom between 1904 and 1908. On June 1908, some leading
brokers formed "The Calcutta Stock Exchange Association".

In the beginning of the twentieth century, the industrial revolution was on the way
in India with the Swadeshi Movement; and with the inauguration of the Tata Iron
and Steel Company Limited in 1907, an important stage in industrial advancement
under Indian enterprise was reached.Indian cotton and jute textiles, steel, sugar,
paper and flour mills and all companies generally enjoyed phenomenal prosperity,
due to the First World War.

In 1920, the then demure city of Madras had the maiden thrill of a stock exchange
functioning in its midst, under the name and style of "The Madras Stock
Exchange" with 100 members. However, when boom faded, the number of
members stood reduced from 100 to 3, by 1923, and so it went out of existence.
In 1935, the stock market activity improved, especially in South India where there
was a rapid increase in the number of textile mills and many plantation companies
were floated. In 1937, a stock exchange was once again organized in Madras -
Madras Stock Exchange Association (Pvt) Limited. (In 1957 the name was
changed to Madras Stock Exchange Limited).

Lahore Stock Exchange was formed in 1934 and it had a brief life. It was merged
with the Punjab Stock Exchange Limited, which was incorporated in 1936.

Indian Stock Exchanges - An Umbrella Growth:

12
The Second World War broke out in 1939. It gave a sharp boom, which was
followed by a slump. But, in 1943, the situation changed radically, when India was
fully mobilized as a supply base.

On account of the restrictive controls on cotton, bullion, seeds and other

commodities, those dealing in them found in the stock market as the only outlet for
their activities. They were anxious to join the trade and numerous others swelled
their number. Many new associations were constituted for the purpose and Stock
Exchanges in all parts of the country were floated.

The Uttar Pradesh Stock Exchange Limited (1940), Nagpur Stock Exchange
Limited (1940) and Hyderabad Stock Exchange Limited (1944) were incorporated.
In Delhi two stock exchanges - Delhi Stock and Share Brokers' Association
Limited and the Delhi Stocks and Shares Exchange Limited - were floated and
later in June 1947, amalgamated into the Delhi Stock Exchange Association
Limited.

RANGE OF PRODUCT AND SERVICES:

Market Size: Growth of Online Brokerage market:

In five years of its existence in India, online broking has grown to account for a
tenth of the total trading volumes. If the numbers are considered for only the retail
segments, the growth is starker. Almost half of the Rs 5,000 crore-6,000 crore
daily market volumes on the NSE are accounted for by non-retail entities such as
foreign institutional investors, domestic institutions, mutual funds and arbitrage
traders. Institutions aren't online customers anyway. Of the rest of the retail
segment, current estimates suggest that online broking's reach is close to 30 per
cent.

As of September this year, there were 11.7 lakhs Internet trading accounts
registered with the NSE, of which roughly 9.5 lakhs are unique users. It's still a
small proportion of the estimated 3 crore Internet users in the country. As more
surfers take to trading online, analysts expect their number to keep doubling every

13
year until 30-40 per cent of India's overall trades are done online, as is the case in
some mature Internet markets like South Korea's.

The Internet's effect here has more to do with the bandwidth it has created for both
brokers and clients. Banga, director of India bulls offers an example. "Traders from
Ajmer use our online platform. It would otherwise have been prohibitively loss-
making to open a branch there." Thanks to the new channel, volumes are growing
faster in the non-metros, where transparency is low in offline trading. "These
customers were made to pay higher charges by small brokers, since they weren't
aware of the market rates," says Vikash Shankar of Sharekhan.com.That is one of
the reasons why more than 60 per cent of Sharekhan’s online trading turnover
comes from non-metros.
Formation of the National Stock Exchange (NSE):

With the liberalization of the Indian economy, it was found inevitable to lift the
Indian stock market trading system on par with the international standards. On the
basis of the recommendations of high-powered Pherwani Committee, the National
Stock Exchange was incorporated in 1992 by Industrial Development Bank of
India, Industrial Credit, and Investment Corporation of India, Industrial Finance
Corporation of India, all Insurance Corporations, selected commercial banks and
others.

Trading at NSE can be classified under two broad categories:

(a) Wholesale debt market and

(b) Capital market.

Wholesale debt market operations are similar to money market operations -

institutions and corporate bodies enter into high value transactions in financial
instruments such as government securities, treasury bills, public sector unit bonds,
commercial paper, certificate of deposit, etc.

There are two kinds of players in NSE:

(a) Trading members and

(b) Participants.
14
Recognized members of NSE are called trading members who trade on behalf of
themselves and their clients. Participants include trading members and large
players like banks who take direct settlement responsibility.

Trading at NSE takes place through a fully automated screen-based trading

mechanism, which adopts the principle of an order-driven market. Trading
members can stay at their offices and execute the trading, since they are linked
through a communication network. The prices at which the buyer and seller are
willing to transact will appear on the screen. When the prices match the transaction
will be completed and a confirmation slip will be printed at the office of the trading
member.

NSE has several advantages over the traditional trading exchanges. They
are as follows:

• NSE brings an integrated stock market trading network across the nation.

• Investors can trade at the same price from anywhere in the country since
inter-market operations are streamlined coupled with the countrywide access
to the securities.

• Delays in communication, late payments and the malpractices prevailing in

the traditional trading mechanism can be done away with greater operational
efficiency and informational transparency in the stock market operations,
with the support of total computerized network.

Unless stock markets provide professionalized service, small investors and foreign
investors will not be interested in capital market operations. And capital market
being one of the major sources of long-term finance for industrial projects, India
cannot afford to damage the capital market path. In this regard NSE gains vital
importance in the Indian capital market system.

Why people trust NSE?

Unbiased:

The National Stock Exchange of India (NSEIL) has been trusted by the securities
markets for its unbiased independence and professionalism. The function of

15
forecasting has become more meaningful as the information comes from a source,
which is not only reliable but has no vested interest of its own in the market
movements.

Market Representation:

NSE-MIBID/MIBOR is based on rates polled by NSE from a representative panel

of 31 banks/institutions/primary dealers.

Transparent:

The reference rate is released to all the market participants simultaneously through
various media, making it transparent with the aspiration of the market. Ensuing
transparency helps the market participants to judge the market mood and the
probable rate one is likely to encounter in the market. This information is useful
not only to the banks but also to the issuers and investors.

Reliable:

The high level of co-relation between actual deals and the reference rate gives an
indication of its reliability. The bootstrapping technique guards against the
possibility of cartelization and of extreme observations influencing the mean

Scientifically Computed:

The methodology of "Polling" with "Bootstrapping" is scientific and the values are
generated through a system that has been extensively tested. The technique
involves generating multiple data sets based on the rates polled with a dynamically
determined number of iterations, identification of outliers, trimming the data set of
its extreme values and computation of the mean and its standard deviation.

Elimination of Noise:
The trimming procedure is vulnerable to market manipulation of the rates due to
the amount of sampling noise. Excessive trimming may lead to loss of information
whereas no trimming may lead to excessive influence of the extreme values. To
derive a true representative benchmark for the market NSE ensures that trimming
at any point does not exclude more than 20% of the observation for the bid and for
the ask rates.

16
Consistency:

The Exchange ensures that everyday the NSE-MIBID/MIBOR along with the
respective standard deviations are disseminated to the market at 0955 (IST) for
overnight rate and at 1215 (IST) for 14 day, 1 month and 3 month rates.

Usage:

The NSE-MIBID/MIBOR rate is used as a bench mark rate for majority of deals
struck for Interest Rate Swaps, Forward Rate Agreements, Floating Rate
Debentures and Term Deposits.

Company Profile

Sharekhan Ltd. is one of the leading retail stock broking house of SSKI Group
which is running successfully since 1922 in the country. It is the retail broking arm
of the Mumbai-based SSKI Group, which has over eight decades of experience in
the stock broking business. Sharekhan offers its customers a wide range of equity
related services including trade execution on BSE, NSE, Derivatives, depository
services, online trading, investment advice etc. The firm’s online trading and
investment site - www.sharekhan.com – was launched on Feb 8, 2000. The site
gives access to superior content and transaction facility to retail customers across
the country. Known for its jargon-free, investor friendly language and high quality
research, the site has a registered base of over one lakh customers. The content-rich
and research oriented portal has stood out among its contemporaries because of its
17
steadfast dedication to offering customers best-of-breed technology and superior
market information. The objective has been to let customers make informed
decisions and to simplify the process of investing in stocks.

On April 17, 2002 Sharekhan launched Speed Trade, a net-based executable

application that emulates the broker terminals along with host of other information
relevant to the Day Traders. This was for the first time that a netbased trading
station of this caliber was offered to the traders. In the last six months Speed Trade
has become a de facto standard for the Day Trading community over the net.

Sharekhan’s ground network includes over 331 centers in 137 cities in India which
provide a host of trading related services.

Sharekhan has always believed in investing in technology to build its business. The
company has used some of the best-known names in the IT industry, like Sun
Microsystems, Oracle, Microsoft, Cambridge Technologies, Nexgenix, Vignette,
Verisign Financial Technologies India Ltd, Spider Software Pvt Ltd. To build its
trading engine and content.
The Morakhiya family holds a majority stake in the company. HSBC, Intel &
Carlyle are the other investors. With a legacy of more than 80 years in the stock
markets, the SSKI group ventured into institutional broking and corporate finance
18 years ago. Presently SSKI is one of the leading players in institutional broking
and corporate finance activities. SSKI holds a sizeable portion of the market in
each of these segments. SSKI’s institutional broking arm accounts for 7% of the
market for Foreign Institutional portfolio investment and 5% of all Domestic
Institutional portfolio investment in the country. It has 60 institutional clients
spread over India, Far East, UK and US. Foreign Institutional Investors generate
about 65% of the organization’s revenue, with a daily turnover of over US$ 2
million. The Corporate Finance section has a list of very prestigious clients and has
many ‘firsts’ to its credit, in terms of the size of deal, sector tapped etc. The group
has placed over US$ 1 billion in private equity deals. Some of the clients include
BPL Cellular Holding, Gujarat Pipavav, Essar, Hutchison, Planetasia, and
Shopper’s Stop.

PROFILE OF THE COMPANY :

Name of the company : Sharekhan ltd.

Year of Establishment : 1925

18
Headquarter : ShareKhan SSKI
A-206 Phoenix House
Phoenix Mills Compound
Lower Parel
Mumbai - Maharashtra, INDIA- 400013

Nature of Business : Service Provider

Services : Depository Services, Online Services and

Technical Research.

Number of Employees : Over 3500

Website : www.sharekhan.com

Slogan : Your Guide to The Financial Jungle.

ACHIEVEMENTS OF SHAREKHAN:

 Rated among the top 20 wired companies along with Reliance, HUJl, Infosys, etc
by ‘Business Today’, January 2004 edition.

Awarded
 ‘Top Domestic Brokerage House’ four times by Euro money and
Asia money.

Pioneers
 of online trading in India amongst the top 3 online trading websites
from India. Most preferred financial destination amongst online broking
customers.

Winners of “Best Financial Website” award.

India’s
 most preferred brokers within 5 years. “Awaaz customers Award 2005”.

Future Plans:

 2,00,000 plus retail customers being serviced through centralized call

centers/ web solutions.

19
  Branches / Semi branches servicing affluent / aggressive traders through
high skill financial advisor.

 250 independent investment managers/ franchisee servicing 50,000 highly

valued clients.

 New initiatives Portfolio management Services and commodities trading.

Vision :

To be the best retail brokering Brand in the retail business of stock market.

Mission :

To educate and empower the individual investor to make better investment

decisions through quality advice and superior service.

Sharekhan is infact-

• Among the top 3 branded retail service providers

• No. 1 player in online business

• Largest network of branded broking outlets in the country serving more

than 7,00,000 clients.

Get everything you need at a Sharekhan

outlet!
All you have to do is walk into any of our 640 share shops across 280 cities in
India to get a host of trading related services - our friendly customer service staff
will also help you with any accouts related queries you may have.
20
A Sharekhan outlet offers the following services:

 Online BSE and NSE executions (through BOLT & NEAT

terminals)
 Free access to investment advice from Sharekhan's
Research team
 Sharekhan ValueLine (a monthly publication with reviews of
recommendations, stocks to watch out for etc)
 Daily research reports and market review (High Noon &
Eagle Eye)
 Pre-market Report (Morning Cuppa)
 Daily trading calls based on Technical Analysis
 Cool trading products (Daring Derivatives and Market
Strategy)
 Personalised Advice
 Live Market Information
 Depository Services: Demat & Remat Transactions
 Derivatives Trading (Futures and Options)
 Commodities Trading
 IPOs & Mutual Funds Distribution
 Internet-based Online Trading: SpeedTrade

REASON TO CHOOSE SHAREKHAN LIMITED

Experience :

SSKI has more than eight decades of trust and credibility in the Indian stock
market. In the Asia Money broker's poll held recently, SSKI won the 'India's Best
Broking House for 2004 ' award. Ever since it launched Sharekhan as its retail
broking division in February 2000, it has been providing institutionallevel research
and broking services to individual investors.

Technology :

With its online trading account one can buy and sell shares in an instant from any
PC with an internet connection. One can get access to its powerful online trading
tools that will help him take complete control over his investment in shares.

21
Accessibility :

Sharekhan provides ADVICE, EDUCATION, TOOLS AND EXECUTION

services for investors. These services are accessible through its centers across the
country over the internet (through the website www.sharekhan.com) as well as
over the Voice Tool.

Knowledge :

In a business where the right information at the right time can translate into direct
profits, one can get access to a wide range of information on Sharekhan limited’s
content-rich portal. One can also get a useful set of knowledge-based tools that will
empower him to take informed decisions.

Convenience :

One can call its Dial-N-Trade number to get investment advice and execute his
transactions. Sharekhan ltd. have a dedicated call-centre to provide this service via
a Toll Free Number 1800-22-7500 & 1800-22-7050 from anywhere in India.

Customer Service :

Sharekhan limited’s customer service team will assist one for any help that one
may require relating to transactions, billing, demat and other queries. Its customer
service can be contacted via a toll-free number, email or live chat on
www.sharekhan.com.

Investment Advice :

Sharekhan has dedicated research teams of more than 30 people for fundamental
and technical researches. Its analysts constantly track the pulse of the market and
provide timely investment advice to its clients in the form of daily research emails,
online chat, printed reports and SMS on their mobile phone.

SSKI Group Companies-

 SSKI Investor Services Ltd (Share khan)

22
  S.S. Kantilal Ishwarlal Securities

 SSKI Corporate Finance

 I dream Productions

 Palm spring estates Pvt Ltd.

 Fin flow Investment Pvt Ltd.

 I dream Production UK Pvt Ltd.

 Share khan Commodities Pvt Ltd.

 Archfund Properties Pvt Ltd.

SHAREKHAN LIMITED’S MANAGEMENT TEAM:

Mr. Dinesh Murikya – Owner of the company:

The Sharekhan Group of Companies was brought to life by Mr. Dinesh Murikya.
He ventured into stock trading with an intention to raise capital for his own
independent enterprise. However, he recognised the opportunity offered by the
stock market to serve individual investors. Thus India’s first retail-focused stock-
broking house was established in 1925. Under his leadership, Sharekhan became
the first broking house to embrace new technology for faster, more effective and
affordable services to retail investors.

Mr. Tarun Shah – Chief Executive Officer (CEO) of the company:

23
A science graduate from St. Xavier’s College, Mumbai, Mr. Tarun Shah started his
professional life in sales and marketing in a chemicals company. His hands on
approach and rigorous experience in sales led him to higher challenges that the
capital markets provided.

In 1987, he joined SSKI, a brokerage firm with over five decades of legendary
service to its credit. The capital markets at that time was undergoing a sea change
in its character and SSKI under the vision and guidance of Shripal Morakhia and
the commitment and hardwork of Mr. Shah was able to change and adopt the new
business practices to achieve significant growth in a competitive environment.

Accepting new challenges is a way of life for Mr. Tarun Shah. To ensure that
SSKI’s foray into retail stock broking business through Sharekhan meets with the
same success every other SSKI venture has, Mr. Tarun Shah moved in to
spearhead this new effort as CEO of the Sharekhan.

Mr. Shankar Vailaya – Director (Operations) of the company:

A graduate in commerce from the University of Mangalore and an Associate

of The Member of the Institute of Chartered Accountants of India,

Mr. Shankar Vailaya heads the operations, finance and legal functions. He is
responsible for settlements, depository operations, risk and compliance and
regulatory & other legal commitments and Treasury.

24
Shankar has managed broking operations through the most turbulent times
of the post securities scam period in 1992 and has managed to steer clear of
a flurry of bad papers in the market during 1994-95.

Mr. Jaideep Arora – Director (Products & Technology) of the company:

Jaideep Arora, completed his B.Tech from IIT (Kanpur) and his PGDM from IIM
Kolkata.

Jaideep worked with ICICI for 8 years where his work spanned a gamut of
functions, which included project finance, equity sales and brokerage, investments
etc. During his tenure there he set up and headed the ‘Institutional Equity
Brokerage Desk’ at ICICI Securities & Finance Co. Ltd.

Jaideep joined Sharekhan in June 2000 as Head of Product Development. A year

later he took over the reigns of the online business at Sharekhan. At present
Jaideep’s responsibilities include spearheading Sharekhan’s online foray and
overall customer acquisition effort.

➢ Pathik Gandotra : Head of Research

➢ Rishi Kohli : Vice President of Equity Derivatives

➢ Nikhil Vora : Vice President of Research

PRODUCTS AND SERVICES OF SHAREKHAN

LIMITED :

The different types of products and services offered by Sharekhan

Ltd. are as follows:

• Equity and derivatives trading

25
• Depository services

• Online services

• Commodities trading

• Dial-n-trade

• Portfolio management

• Share shops

• Fundamental research

• Technical research

FINANCIAL PRODUTS AVAILABLE AT SHAREKHAN:

26
 C.E.O.

Country Head

Cluster Head

Regional Head

SERVICES: Branch Head

Always wanted help on what the stock market is all about? Been
wondering about how allCity
thisSales
works? Well, you don't need to fret any more - the
Sharekhan FirstStep is a Manager
brand new program designed especially for those who are
new to investing in shares. All you have to do is open a Sharekhan FirstStep

Dealer
account and we'll guide you through the investing process.

Hierarchy of Sharekhan:
Sales-
Executives

……1........ .…2… ……3……. ……4…..

27

Trainee
SWOT ANALYSIS

Strengths:

28
 • It is a pioneer in online trading with a turn over of
Rs.400crores and more than 800 peoples working in the
organization.

• SSKI the parent company of Share Khan has more than

eight decades of trust and credibility in the Indian stock
market. In the Asian Money Broker’s poll SSKI won the
“India’s best broking house for 2004” award.

• Share Khan provides multi-channel access to all its

customers through a strong online presence with
www.sharekhan.com, 250 share shops in 130 cities and a
call-center based Dial-n-Trade facility

• Share Khan has dedicated research teams for

fundamental and technical research. Which constantly
track the pulse of the market and provide timely
investment advice free of cost to its clients which has a
strike rate of 70-80%.

Weakness:

• Localized presence due to insufficient investments

for country wide expansion.

• Lack of awareness among customers because of

non-aggressive promotional strategies (print media,
newspapers, etc).

• Lesser emphasis on customer retention.

• Focuses more on HNIs than retail investors which

results in meager market-share as compared to close
competitors.

Opportunities:

• With the booming capital market it can successfully launch

new services and raise its client’s base.
29
 • It can easily tap the retail investors with small saving
through promotional channels like print media, electronic
media, etc.

• As interest on fixed deposits with post office and banks are

all time low, more and more small investors are entering into
stock market.

• Abolition of long term capital gain tax on shares and

reduction in short term capital gain is making stock market
as hot destination for investment among small investors.

• Increasing usage of internet through broadband connectivity

may boost a whole new breed of investors for trading in
securities.

Threats:

• Aggressive promotional strategies by close competitors may

hamper Share Khan’s acceptance by new clients.

• Lack of sufficient branch-offices for speedy delivery

of services.

• Other players are providing margin funds to investors

on easy terms where
as there is no such facility in share khan.

• More and more players are venturing into this

domain which can further
reduce the earnings of Share Khan.

30
 DISCUSSION ON TRAINING

Student’s work profile(role and responsibilities) :

I worked there with SHAREKHAN LTD. with a profile of sales trainee. This
profile offers me to understand the need of customer and provide them the best
deal possible with maximization of the profit, both for the company as well as for
the customer.

The most important aspect for the role of trainee is trust. So far fulfillment of
the targets one needs to:

• Capitalize on the old and loyal clientage which can be building slowly by
advising people in the best possible way.

• Generating new leads through various activities.

Generation of leads :

31
 Since I was new in the field so I had to start from scratch and generate new
leads to sustain in the market.

Cold calling is one of the trusted ways of getting to the customers without meeting
them. Although the rate of conversion remained very less, for cold calling the
quality and accent remains a very important criterion. This activity gives me mixed
result. I often got success and generated many leads through it but it also landed
me in awkward position where the customer were in different mood and made us
hear words for which a marketer should be always prepared to hear. Corporate
calls always remained more difficult to crack with respect to retail sector.

The corporate were the most difficult and most temping to get the business from. It
took me one one day to crack Hi-tech Gears. At SHAREKHAN LTD. after getting
the product knowledge in the first week at the branch I was also allotted distributor
to work with. In the initial phase I was accompanied by more experienced staff.
After I became known to the market and procedure I started attending calls alone
only.

After the third week my performance also improved and I was able to get close to
the targets, though it looked difficult to achieve in the beginning. To get awareness
of the every product I attended diversified calls. This helped me to implement
cross selling to get better results.

LIMITATIONS:

1. Cold Calling:

• Voice and accent plays a major role.

• The right time to call a customer cannot be decided, as the customer may in

32
 a different mood at the time of calling.

• Time consuming

• Less success rate

2. Corporate:

• Time consuming

• Contacts with higher authorities play a major role

Description of live experience :

I was supposed to use the database provided by the company to make cold calls or
by directly meeting people to get new leads.

While making cold calls, we need to have:

• Good Communication Skills (Voice quality is clear and articulate)

• Persistent and able to bounce back from rejection

• Good organizational skills.

33
• Ability to project a telephone personality (Enthusiasm, friendliness)

• Flexibility: can adapt to different types of clients and new situations.

Using a good database is very essential.

“Eighty percent of our business comes from 20 percent of our customers" is a

frequent statement at any sales convention. There's hardly a sales executive who is
not aware of the 80/20 rule”.

While talking to customers, I analyze their needs. Whether they want to go for
investment purpose or insurance or both. Suggest them the plan that best suits
them. If they agree to it then either we send across the agents to close the deal or
close it themselves.

34
Problems faced while selling products:

• Customer dissatisfied with the services.

• People fear that Sharekhan Being a Private company and a new entrant may
be able to sustain or not.

• Past experience, word of mouth.

• Misguidance by agents.

• People do not want insurance products.

• Lack of knowledge and less awareness about demat account.

35
• People risk appetite is very low, so they are afraid of mutual fund as well.

36
 Share khan Demat Accounts

Overview of Demat Account :

Demat account allows you to buy, sell and transact shares without the endless
paperwork and delays. It is also safe, secure and convenient.

In India, a demat account, the abbreviation for dematerialized account, is a type

of banking account which dematerializes paper-based physical stock shares. The
dematerialized account is used to avoid holding physical shares: the shares are
bought and sold through a stock broker.

This account is popular in India. The Securities and Exchange Board of India
(SEBI) mandates a demat account for share trading above 500 shares. As of April
2006, it became mandatory that any person holding a demat account should
possess a Permanent Account Number (PAN), and the deadline for submission of
PAN details to the depository lapsed on January 2007.

Is a demat account a must?

Now a day, practically all trades have to be settled in dematerialized form.

Although the market regulator, the Securities and Exchange Board of India (SEBI),
has allowed trades of up to 500 shares to be settled in physical form, nobody wants
physical shares any more. So a demat account is a must for trading and investing.

Why demat?

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

37
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.

What is dematerialization?
Dematerialization is the process by which physical certificates of an investor are
converted to an equivalent number of securities in electronic form and credited
into the investor’s account with his/her DP.

Why DEMAT a/c likes a BANK a/c?

38
Just as you have to open an a/c with a bank if you want to save your money, make
cheque payments etc, you need to open a demat a/c if you want to buy or sell
stocks. So it just like a bank a/c where actual money replaced by shares.

Example : let’s say your portfolio has 100 of SATYAM, 200 of IBM and 120 of
TCS shares. All these will show in you’re a/c. so you don’t have to possess any
physical certificate that you own these shares. They all are held electronically in
you’re a/c.

Steps involved in opening a demat account :

First an investor has to approach a DP and fill up an account opening form. The
account opening form must be supported by copies of any one of the approved
documents to serve as proof of identity (POI) and proof of address (POA) as
specified by SEBI. Besides, production of PAN card in original at the time of
opening of account has been made mandatory effective from April 01, 2006.
All applicants should carry original documents for verification by an authorized
official of the depository participant, under his signature.

Further, the investor has to sign an agreement with DP in a depository prescribed

standard format, which details rights and duties of investor and DP. DP should
provide the investor with a copy of the agreement and schedule of charges for their
future reference. The DP will open the account in the system and give an account
number, which is also called BO ID (Beneficiary Owner Identification number).

The DP may revise the charges by giving 30 days notice in advance. SEBI has
rationalized the cost structure for dematerialization by removing account opening
charges, transaction charges for credit of securities, and custody charges vide
circular dated January 28, 2005.

Further, SEBI has vide circular dated November 09, 2005 advised that with effect
from January 09, 2006, no charges shall be levied by a depository on DP and
consequently, by a DP on a Beneficiary Owner (BO) when a BO transfers all the
securities lying in his account to another branch of the same DP or to another DP
of the same depository or another depository, provided the BO Account/s at

39
transferee DP and at transferor DP are one and the same, i.e. identical in all
respects.

In case the BO Account at transferor DP is a joint account, the BO Account at

transferee DP should also be a joint account in the same sequence of ownership.

Rights:
1. You can open more than one depository account in the same name with
single DP/ multiple DPs.

2. No minimum balance is required to be maintained in a depository account.

3. You can give a onetime standing instruction to your DP to receive all the
credits coming to your depository account automatically.

DEMAT Benefits?
 A safe and convenient way to hold securities.

 immediate transfer of securities.

 No stamp duty on transfer of securities(0.5 % on physical shares).

 Elimination of risks associated with physical certificates such as bad

delivery, fake securities , delays , theft etc.

 Reduction in paper work.

 Reduction in transaction cost.

 No odd lot problem , even one share can be sold.

40
  Nomination facility.

 Holding investment in equity and debt instruments in a single account.etc.

DEMAT Conversion :-
1. Surrender the certificates of physical shares for dematerialization to your
depository participants.

2. Depository participant intimates depository of the request through the

system.

3. Depository participant submit the certificates to the registrar to the issuer

company.

4. Registrar confirms the dematerialization request from depository.

5. After dematerializing the certificates, registrar updates accounts and informs

depository of the completion of dematerialization.

6. Depository updates its accounts and informs the depository participant.

7. Depository participant updates demat a/c of the investor.

What is a Depository?

A depository is an organisation which holds securities of investors in electronic

form at the request of the investors through a registered Depository Participant. It
also provides services related to transactions in securities.

SEBI registered depository’s :-

NSDL :- National securities depository limited

CDSL :- Central depository services limited
Minimum net worth required for a depository is 100 crores

41
NSDL:

Although India had a vibrant capital market, which is more than a century old,
the paper-based settlement of trades caused substantial problems like bad delivery
and delayed transfer of title till recently. The enactment of Depositories Act in
August 1996 paved the way for establishment of NSDL, the first depository in
India. This depository promoted by institutions of national stature responsible for
economic development of the country has since established a national
infrastructure of international standard that handles most of the trading and
settlement in dematerialized form in Indian capital market. Using innovative and
flexible technology systems, NSDL works to support the investors and brokers in
the capital market of the country. NSDL aims at ensuring the safety and soundness
of Indian marketplaces by developing settlement solutions that increase efficiency,
minimize risk and reduce costs. At NSDL, we play a quiet but central role in
developing products and services that will continue to nurture the growing needs of
the financial services industry.

In the depository system, securities are held in depository accounts, which is more
or less similar to holding funds in bank accounts. Transfer of ownership of
securities is done through simple account transfers. This method does away with
all the risks and hassles normally associated with paperwork. Consequently, the
cost of transacting in a depository environment is considerably lower as compared
to transacting in certificates.

DEPOSITORY PARTICIPANTS:
A Depository Participant (DP) is described as an agent of the depository. They are
the intermediaries between the depository and the investors. The relationship
between the DPs and the depository is governed by an agreement made between
the two under the Depositories Act. In a strictly legal sense, a DP is an entity that is
registered as such with SEBI under the provisions of the SEBI Act. As per the
provisions of this Act, a DP can offer depository-related services only after
obtaining a certificate of registration from SEBI. SEBI (D&P) Regulations, 1996
prescribe a minimum net worth of Rs.50 lakh for stockbrokers, R&T agents and
non-banking finance companies (NBFC), for granting them a certificate of
registration to act as DPs. If a stockbroker seeks to act as a DP in more than one
depository, he should comply with the specified net worth criterion separately for
each such depository. No minimum net worth criterion has been prescribed for
42
other categories of DPs. However, depositories can fix a higher net worth criterion
for their DPs. NSDL requires a minimum net worth of Rs.100 lakh to be eligible to
become a DP as against Rs.50 lakh prescribed by SEBI (D&P) Regulations.

Instruments :

The changes in the regulatory framework of the capital market and fiscal policies
have also resulted in newer kinds of financial instruments (securities) being
introduced in the market. Also, a lot of financial innovation by companies who are
now permitted to undertake treasury operations has resulted in newer kinds of
instruments - all of which can be traded – being introduced. The variations in all
these instruments depend on the tenure, the nature of security, the interest rate, the
collateral security offered and the trading features, etc
• Debentures

• Bonds

• Preference Share

• Equity Shares

• Government securities

• Capital Market Processes

• Initial Public Offering (IPO)

• Private Placement

• Preferential Offer/Rights Issue

• Private Placement

Benefits of Depository System:

In the depository system, the ownership and transfer of securities takes place

43
by means of electronic book entries. At the outset, this system rids the capital
market of the dangers related to handling of paper. NSDL provides numerous
direct and indirect benefits, like:

· Elimination of bad deliveries

In the depository environment, once holdings of an investor are dematerialized, the
question of bad delivery does not arise i.e. they cannot be held "under objection".
In the physical environment, buyer was required to take the risk of transfer and
face uncertainty of the quality of assets purchased. In a depository environment
good money certainly begets good quality of assets.
· Elimination of all risks associated with
physical certificates

Dealing in physical securities have associated security risks of theft of stocks,

mutilation of certificates, loss of certificates during movements through and from
the registrars, thus exposing the investor to the cost of obtaining duplicate
certificates and advertisements, etc. This problem does not arise in the depository
environment.

· No stamp duty

For transfer of any kind of securities in the depository. This waiver extends to
equity shares, debt instruments and units of mutual funds.

· Immediate transfer and registration of Securities

In the depository environment, once the securities are credited to the investors
account on pay out, he becomes the legal owner of the securities.

There is no further need to send it to the company's registrar for registration.

Having purchased securities in the physical environment, the investor has to
send it to the company's registrar so that the change of ownership can be registered.
This process usually takes around three to four months and is rarely completed
within the statutory framework of two months thus exposing the investor to
opportunity cost of delay in transfer and to risk of loss in transit. To overcome this,

44
the normally accepted practice is to hold the securities in street names i.e. not to
register the change of ownership.

However, if the investors miss a book closure the securities are not good for
delivery and the investor would also stand to loose his corporate
entitlements.

· Faster settlement cycle

The exclusive demat segments follow rolling settlement cycle of T+2 i.e. the
settlement of trades will be on the 2nd working day from the trade day. This will
enable faster turnover of stock and more liquidity with the investor.

Faster disbursement of non-cash corporate

·

benefits like rights, bonus, etc.

NSDL provides for direct credit of non-cash corporate entitlements to an

investors account, thereby ensuring faster disbursement and avoiding risk
of loss of certificates in transit.

·Reduction in brokerage by many brokers for

trading in dematerialized securities

Brokers provide this benefit to investors as dealing in dematerialized securities

reduces their back office cost of handling paper and also eliminates the risk of
being the introducing broker.

· Reduction in handling of huge volumes of paper

· Periodic status reports to investors on their holdings and

transactions, leading to better controls.

45
· Elimination of problems related to change of address of
investor, transmission, etc

In case of change of address or transmission of demat shares, investors are saved

from undergoing the entire change procedure with each company or registrar.
Investors have to only inform their DP with all relevant documents and the
required changes are effected in the database of all the companies, where the
investor is a registered holder of securities.

·Elimination of problems related to selling

securities on behalf of a minor

A natural guardian is not required to take court approval for selling demat
securities on behalf of a minor.

· Ease in portfolio monitoring

Since statement of account gives a consolidated position of investments

in all instruments.

46
TYPES OF ACCOUNT IN SHAREKHAN LIMITED :

Sharekhan offers two types of trading account for its clients :

➢ Classic Account (which include a feature known as Fast Trade Advanced

Classic Account for the online users) and

➢ Trade Tiger Account

CLASSIC ACCOUNT :

This is a User Friendly Product which allows the client to trade through website
www.sharekhan.com and is suitable for the retail investor who is risk-averse and
hence prefers to invest in stocks or who does not trade too frequently. This account
allow investors to buy and sell stocks online along with the following features like
multiple watch lists, Integrated Banking, Demat and digital contracts, Real-time
portfolio tracking with price alerts and Instant credit & transfer.

This account comes with the following features:

a. Online trading account for investing in Equities and Derivatives

47
b. Free trading through Phone (Dial-n-Trade):

I.Two dedicated numbers(1800-22-7500 and 39707500) for

placing the orders using cell phones or landline phones
II. Automatic funds transfer with phone banking facilities (for
Citibank and HDFC bank customers)
III. Simple and Secure Interactive Voice Response based
system for authentication
IV. get the trusted, professional advice of Sharekhan limited’s
Tele Brokers

V. After hours order placement facility between 8.00 am and

9.30 am

c. Integration of: Online Trading + Demat Account + Cash to Margin.

d. Instant cash transfer facility against purchase & sale of shares.

e. IPO investments.

f. Instant order and trade confirmations by e-mail.

g. Single screen interface for cash and derivatives.

TRADE TIGER ACCOUNT:

This is an internet-based software application, which enables one to buy and sell in
an instant. It is ideal for active traders and jobbers who transact frequently during
day’s session to capitalize on intra-day price movement.

This account comes with the following features:

a. Instant order Execution and Confirmation.

b. Single screen trading terminal for NSE Cash, NSE F&O & BSE.

48
c. Technical Studies.

d. Multiple Charting.

e. Real-time streaming quotes, tic-by-tic charts.

f. Market summary (Cost traded scrip, highest value etc.)

g. Hot keys similar to broker’s terminal.

h. Alerts and reminders.

i. Back-up facility to place trades on Direct Phone lines.

j. Live market debts.

CHARGE STRUCTURE :

Fee structure for General Individual:

Charges Classic Account Trade Tiger Account

Account Opening Nil Nil
Brokerage Intra – day – 0.10% Intra – day – 0.10%
Delivery – 0.50% Delivery – 0.50%

BROKARAGE:

49
 It is the charge taken by the guiding company for helping you in buying and
selling your shares. There are different charges for Intraday and Delivery.

INTRADAY:

The day to day buying and selling or daily transactions are called as
Intraday. You have to buy or sell the shares within the day only.

DELIVERY:

It is the three day transaction. The day you buy the share and the next two
days after that day is called as Delivery. It includes thre days. If you are buying
any share then you have to sell it within three days including the buying day.

T+2 = Today + 2 days

Depository Charges:

Account Opening Charges Nil

Annual Maintenance Charges 1st Year Nil
2nd Year 415/-

50
PREPAID ACCOUNT:

There are three types of Prepaid account are provided to the customers
accordingly they make transactions more and more. All Prepaid accounts are valid
for One year only.

Scheme of Prepaid Brokerage :

Prepaid Brokerage Cash Futures and Options

(p.a)
Futures Options

2000/- Intra-day – 0.07% 0.07 2% or Rs.90,

(Single Side) whichever is
Delivery – 0.40% higher
6000/- Intra-day – 0.05% 0.05 1.5% or Rs.75,
Delivery – 0.25% whichever is
higher
18000/- Intra-day – 0.04% 0.04 1% or Rs.50,
Delivery – 0.20% whichever is
higher

EXPOSURE:

Sharekhan also helps their customers by providing them a Four time

Exposure. Example :- If a customer invests Rs. 20000, then he will get a exposure
of 4 times of Rs. 20000 that means Rs. 20000 * 4 = Rs. 100000.

But only for Five days, within 5 days the customer have to pay back the
amount otherwisw they will sell your shares. But yes, they will sell the loss amking
shares first. If you make any frod , then also you may face the sane problem.

51
 But Exposure always helps the customer to invest more and more in profit
making scripts. It is like an Overdraft which you have to return within 5 days.

HOW TO OPEN AN ACCOUNT WITH SHARE KHAN

LIMITED ?

For online trading with Sharekhan Ltd., investor has to open an account.
Following are the ways to open an account with Sharekhan Ltd.:

 One need to call them at phone number provided below and asks that he
want to open an account with them.
a. One can call on the Toll Free Number: 1-800-22-7500 to speak to
a Customer Service executive

b. Or If one stays in Mumbai, he can call on 022-66621111

 One can visit any one of Sharekhan Limited’s nearest branches.

Sharekhan has a huge network all over India (640 centers in 280 cities).

 One can also log on to “http://sharekhan.com/Locateus.aspx” link to

find out the nearest branch.
 One can send them an email at info@sharekhan.com to know about
their products and services.

 One can also visit the site www.sharekhan.com and click on the option
“Open an Account” to fill a small query form which will ask the
individual to give details regarding his name, city he lives in, his email
address, phone number, pin code of the city, his nearest Sharekhan Ltd.
shop and his preferences regarding the type of account he wants.

These information are compiled in the headquarter of the company that is

in Mumbai from where it is distributed through out the country’s branches in the
form of leads on the basis of cities and nearest share shops. After that the
executives of the respective branches contact the prospective clients over phone or
through email and give them information regarding the various types of accounts
and the documents they need to open an account and then fix appointment with the

52
prospective clients to give them demonstration and making them undergo the
formalities to open the account. After that the forms that has collected from the
clients, is scrutinized in the branch and then it is sent to Mumbai for further
processing where after a few days the clients’ account are generated and activated.
After the accounts are activated, a Welcome Kit is dispatched from Mumbai to the
clients’ address mentioned in the documents provided by them. As soon as the
clients receive the Welcome Kit, which contains the clients’ Trading ID and
Trading Password, they can start trading and investing in shares.

Apart from two passport size photographs, one needs to provide with the following
documents in order to open an account with Sharekhan Limited.:

 Photocopy of the clients’ PAN Card which should be duly attached

 Photo copy of any of the following documents duly attached which will
serve as correspondence address proof:

a. Passport (valid)

b. Voter’s ID Card

c. Ration Card

d. Driving License (valid)

e. Electricity Bill (should be latest and should be in the name of the client)

f. Telephone Bill (should be latest and should be in the name of the client)

g. Flat Maintenance Bill (should be latest and should be in the name of the client)

h. Insurance Policy (should be latest and should be in the name of the client)

i. Lease or Rent Agreement.

j. Saving Bank Statement** (should be latest)

 Two cheques drawn in favour of Sharkhan Limited, one for the Account
53
Opening Fees and the other for the Margin Money (the minimum
margin money is Rs. 5000).

** A cancelled cheque should be given by the client if he provides Saving

Bank Statement as a proof for correspondence address.

NOTE: Only Saving Bank Account cheques are accepted for the purpose of
Opening an account.
Generally the process of opening an account follows the following steps:

LEAD MANAGEMENT SYSTEM (LMS) / REFERENCES

CONTACT THE PERSON OVER PHONE OR THROUGH EMAIL

FIXING AN APPOINTMENT WITH THE PERSON

YES GIVING DEMONSTRATION NO

DOCUMENTATION

FILLING UP THE FORM

SUBMISSION OF THE FORM

54
 LOGIN OF THE FORM

SENDING ACCOUNT OPENING KIT TO THE CLIENT

TRADING
Sharekhan Demat Account Services :
Sharekhan – Transacting and investing simplified. Get ready to change the way
you transact and invest in financial products and services. Whether you wish to
transact in equity, equity & commodity derivatives, IPO’s offshore investments or
prefer to invest in mutual funds, life & general insurance products or avail money
transfer and money changing services, you can do it all through Angel. Simply
open a Angel account and enjoy the convenience of handling all your key financial
transactions through this one window.

Benefits of having an Sharekhan account:

• It’s cost effective
You pay comparatively lower transaction fees. As an Introductory offer, we invite
you to pay a flat fee of just Rs. 750/- and transact through Sharekhan.

• Its offers single –

Through Sharekhan’s associates, you can transact in equity, equity and
commodities derivatives, offshore investments mutual funds, IPO’s life insurance,
general insurance, money transfer, money changing and credit cards, amongst
others.

• Its convenient
You can access Sharekhan’s services through

55
•The internet

•Transaction kiosks

•The phone (call & transact)

•Our all – India network of associates on an assisted trade.

Its Safe your account is safeguarded with a unique security number that
changes every 32 seconds. This number works as a dynamics password to keep
your account extra safe.

It provide you value- added services at

www.sharekhan.com , you get

• Reliable research, including views of external experts with an enviable track

record

• Live news updates from Reuters and Dow Jones

• CEO’s / expert views on the economy and financial markets

• Tools that help you plan your investments, tax, retirement, etc. in the personal

finance section

• Risk Analyzer for analysis of your risk profile

• Asset allocators to build an appropriate investment portfolio

• Innovative use of technology for facilitating

The benefits:-
Benefits of Demat Account
• A safe and convenient way to hold securities;

• Immediate transfer of securities;

56
• No stamp duty on transfer of securities;

• Elimination of risks associated with physical certificates such as bad delivery,

fake securities, delays, thefts etc.;

• Reduction in paperwork involved in transfer of securities;

• Reduction in transaction cost;

• No odd lot problem, even one share can be sold;

• Nomination facility;

• Change in address recorded with DP gets registered with all companies in which
investor holds securities electronically eliminating the need to correspond with
each of them separately;

• Transmission of securities is done by DP eliminating Correspondence with

companies;

• Automatic credit into demat account of shares, arising out of

bonus/split/consolidation/merger etc.

• Holding investments in equity and debt instruments in a single account.

Benefit For Investors

Demat account has become a necessity for all categories of investors for the
following reasons/ benefits:


SEBI
 has made it compulsory for trades in almost all scrip’s to be settled in
Demat mode. Although, trades up to 500 shares can be settled in physical form,
physical settlement is virtually not taking place for the apprehension of bad
delivery on

account
 of mismatch of signatures, forgery of signatures, fake certificates, etc.

57
It
 is a safe and convenient way to hold securities compared to holding securities
in physical form..

No
 stamp duty is levied on transfer of securities held in Demat form.

Instantaneous
 transfer of securities enhances liquidity.

It
 eliminates delays, thefts, interceptions and subsequent misuse of certificates.

Change
 of name, address, registration of power of attorney, deletion of
deceased's name, etc. - can be affected across companies by one single
instruction to the DP.

Each
 share is a market lot for the purpose of transactions - so no odd lot
problem.
Any number of securities can be transferred/delivered with one delivery order.
Therefore, paperwork and signing of multiple transfer forms is done away with. It
facilitates taking advances against securities on low margin/low interest.

Points To Remember
1. You may choose your DP based on your evaluation of their reputation,
service standards, charges, other conveniences, etc.

2. Open depository account with the same holding pattern as there on existing
physical securities. You will need to open separate accounts for every different

58
combination of holding pattern. Eg.: If 100 securities of company ABC & 200
securities of company PQR are registered in the name of X as first holder & Y
as second holder, one account in name of X as first holder & Y as second
holder is sufficient. Whereas, if 100 securities of company ABC are registered
in the name of X as first holder & Y as second holder & 200 securities of
company PQR are registered in the name of Y as first holder & X as second
holder, you will need to open two accounts, one in the name of X as first
holder & Y as second holder and the second in the name of Y as first holder
and X as second holder.

3. Account opening procedure should typically take 2-5 days.

4. In case of holdings of a partnership firm, the account should be opened in

the name of the partner(s).

5. In case of holdings of a HUF, the account should be opened in the name of

the Karta.

6. In case of a minor, the depository account should be opened in the name of

the minor and the guardian’s name should be mentioned. The guardian will
sign as signatory on behalf of the minor. For selling the securities of the minor,
a court order should be obtained.

7. In case of any difficulties, contact your DP.

8. Only securities admitted by NSDL can be dematerialized. The list is

available with your DP.
9. Only securities registered in the name of the account holder can be
dematerialized.

59
10. Dematerialization is normally completed within 15 days after the
share certificates have reached the issuer/their R&T Agent. Thus it may take
you a month from the date you hand over shares, to receive demat credit.

11. Dematerialization would be done only when the issuer / their R&T
Agent is satisfied of genuineness of securities & ownership status

12. All the joint holders should sign the DRF.

13. The pattern of holding in the DRF should match the pattern of holding
on the share certificate & the pattern in which account is opened.

14. Demat requests with name(s) not matching exactly with the name(s)
appearing on the certificates merely on account of initials not being spelt out
fully or put after or prior to the surname, would be processed, provided the
signature(s) of the client(s) on the DRF tallies with the specimen signature(s)
available with the issuer/ their R & T agent.

15. If the signature in the DRF does not match with the signature
available with the issuer/ their R & T agent, the issuer/ their R & T agent may
at the time of demat confirmation, ask for additional documentation (like bank
attestation/ notarization, etc.) to prove that the certificate belongs to the person
who forwarded the DRF.

16. In case there is any problem in processing the DRF, contact your DP
and if he cannot resolve the problem you may contact NSDL.

60
RESEARCH SECTION IN SHAREKHAN LIMITED :

Sharekhan Limited has its own in-house Research Organisation which is known as
Valueline. It comprises a team of experts who constantly keep an eye on the share
market and do research on the various aspects of the share market. Generally the
research is based on the Fundamentals and Technical analysis of different
companies and also taking into account various factors relating to the economy.

Sharekhan Limited’s research on the volatile market has been found accurate most
of the time. Sharekhan's trading calls in the month of November 2007 has given
89% strike rate.

Out of 37 trading calls given by Sharekhan in the month of November 2007, 33

hit the profit target. These exclusive trading picks come only to Sharekhan Online
Trading Customer and are based on in-depth technical analysis.

As a customer of Sharekhan Limited, one receives daily 5-6 Research Reports on

their emails which they can use as tips for investing in the market. These reports
are named as Pre-Market Report, Eagle Eye, High Noon, Investors Eye, Daring
Derivatives and Post-Market Report. Apart from these, Sharekhan Limited issues a
monthly subscription by the name of Valueline which is easily available in the
market.

61
Buying and Selling of Dematerialization

INTRODUCTION:
The procedure for buying and selling dematerialized securities is similar to the
procedure for buying and selling physical securities. The difference lies in the
process of delivery (in case of sale) and receipt (in case of purchase) of securities.

In case of purchase:-
• The broker will receive the securities in his account on the payout day.

• The broker will give instruction to its DP to debit his account and credit
investor’s account.

• Investor will give ‘Receipt Instruction to DP for receiving credit by filling

appropriate form. However one can give standing instruction for credit in to
ones accounts that will obviate the need of giving Receipt Instruction every
time.

In case of sale:-

62
The investor will give delivery instruction to DP to debit his account and credit the
broker’s account. Such instruction should reach the DP’s office at least 24 hours
before the pay-in as otherwise DP will accept the instruction only at the investor’s
risk.

Rights
1. Dematerialized securities can be traded on those stock exchanges connected
to NSDL. At present, NSE, BSE, CSE, DSE, LSE, BGSE, OTCEI, MSE, ISE
& ASE are connected to NSDL. At these stock exchanges, two segments
would be available to trade in dematerialized securities :

o Unified (erstwhile physical) segment - In this segment delivery

obligation can be met by delivering dematerialized or physical securities at
the option of the seller. However, for a select list of securities prescribed
by SEBI, securities cannot be delivered in physical form in the unified
segment, of stock exchanges connected to NSDL. This list presently
covers 160 securities. This list has been expanded to cover a total of 200
securities with effect from January 17, 2000. Over a period, this list would
cover all actively traded securities.

o Exclusive demat segment - In this segment delivery obligation

can be met by delivering dematerialized securities only. Physical securities
cannot be delivered in the exclusive demat segment.

Procedure

Trading in dematerialized securities is done through your broker just like trading in
physical securities. After your broker executes the trade, your DP will help to
deliver shares to your broker (in case you sell) on the basis of valid instruction

63
given by you to your DP and receive shares from your broker (in case you buy) on
basis of valid instruction given by your broker to his DP.

Buy dematerialized securities

1. You purchase securities in any of the stock exchanges connected to NSDL
through a broker of your choice and make payment to your broker. Make sure
you tell your broker you want only demat shares.

2. Broker arranges payment to clearing corporation/ clearing house of the stock

exchange.

3. Broker receives credit in his clearing account with his DP on the pay-out
day. He can immediately transfer these securities to your depository account,
provided your account is already active.

4. Broker gives instructions to his DP to debit his clearing account and credit
your depository account.

5. You give instruction to your DP for receiving credit in your depository

account. If you have given standing instruction to receive credits, no separate
instruction for receiving credit will be required.

6. If the instructions match, your account with your DP is credited.

Sell dematerialized securities

1. You sell your dematerialized securities in any of the stock exchanges linked
to NSDL through a broker of your choice.

64
 2. You give instruction to your DP for debit of your depository account and
credit of your brokers clearing member account at least 24 hours i.e. one
working day prior to the pay-in date or before the deadline prescribed by your
DP, so that your brokers clearing account is credited at the time arranged with
him.

3. On the pay-in day, your broker gives instruction to his DP for delivery to
clearing corporation/clearing house of the relevant stock exchange.

4. The broker receives payment from the clearing corporation / clearing house.

5. You receive payment from the broker for the sale in the same manner you
would receive payment for a sale in the physical mode.

Points To Remember
1. Trading continues to be through brokers. In case of any problem in
execution of trade, contact your broker and if he fails to resolve the problem
you may contact the stock exchange.

2. When you buy securities through the stock exchange, your brokers clearing
account is credited to the extent of the securities purchased, on receipt of
instruction from clearing corporation/ clearing house of the stock exchange.
Your depository account is credited only when your broker gives a delivery
instruction to his DP. Securities are not directly credited to your account by the
clearing corporation/ clearing house of the stock exchange. In case your broker
does not give a delivery instruction, contact him or concerned stock exchange
or SEBI. If your depository account is not credited, in spite of your broker
giving valid instruction to his DP, contact the DP and if he fails to resolve the
same you may contact NSDL.

65
3. When you sell securities, you have to give a delivery instruction to your DP
to transfer the securities to your brokers clearing account. They are not
automatically debited from your account by NSDL or by the clearing
corporation/ clearing house of the stock exchange. In case the DP defaults in
executing your instruction, the DP is liable to compensate you for the loss
incurred, provided your instruction was in order and has been submitted to the
DP at least 24 hours i.e. one working day prior to the pay-in date or before the
deadline prescribed by DP. In case the DP fails to resolve your problem, you
can contact NSDL.

66
 Need for the Study
The need of the study arises because of the reason that a trainee must understand
the company, its achievements and tasks, products and services and also to collect
information about its competitors, its products and services offered. So that, after
understanding and collecting information about the organization and its
competitors, a trainee will be able to work well for the organization.

From the study we have learned very much, about the company as well as the
strategy of the customers, which helps us a lot at our working days.

67
 Competitors

HDFC BANK is one of the leading Depository Participant (DP) in the country with
over 8 Lac demat accounts.

HDFC Bank Demat services offers you a secure and convenient way to keep track
of your securities and investments, over a period of time, without the hassle of
handling physical documents that get mutilated or lost in transit.

HDFC BANK is Depository participant both with National Securities Depositories

Limited (NSDL) and Central Depository Services Limited (CDSL).

Features & Benefits :

As opposed to the earlier form of dealing in physical certificates with delays in

transaction, holding and trading in Demat form has the following benefits:

Settlement of Securities traded on the exchanges as well as off market transactions.

Shorter settlements thereby enhancing liquidity.

68
 Pledging of Securities.

Electronic credit in public issue.

Auto Credit of Rights / Bonus / Public Issues /Dividend credit through ECS.

Auto Credit of Public Issue refunds to the bank account.

No stamp duty on transfer of securities held in demat form.

No concept of Market Lots.

Change of address, Signature, Dividend Mandate, registration of power of

attorney, transmission etc. can be effected across companies held in demat form by
a single instruction to the Depository Participant (DP).

Holding / Transaction details through Internet / email.

In case you need any more information or have any queries , feedback &
complaints , you may please mail us at dphelp@hdfcbank.com

Secured & easy transaction processing

69
HDFC Bank Ltd provides convenient facility called 'SPEED-e' (Internet based
transaction) whereby account holder can submit delivery instructions electronically
through SPEED-e website (https://speede.nsdl.com). SPEED-e offers secured
means of transaction processing eliminating preparation of instruction slips and
submission of the same across the counter to the depository participant. The
'IDEAS' facility helps in viewing the current transactions and balances (holdings)
of Demat account on Internet on real time basis.

Disclaimer:

Whatever have been stated above are in the good interest of the Investor / Demat
Applicants / holders to provide a brief picture about the depository system. You are
requested go through the guidelines of the depositories before taking any further
action. For detailed guidelines, you are requested to approach your nearest HDFC
Bank branch. HDFC Bank will not be responsible for any misunderstanding / act
based on the above. Also HDFC Bank might ask for additional information /
documentation than what has been stated above to process your application /
instruction.

ICICI DIRECT

ICICI Direct (or ICICIDirect.com) is stock trading company of ICICI Bank. Along
with stock trading and trading in derivatives in BSE and NSE, it also provides
facility to invest in IPOs, Mutual Funds and Bonds.

Trading is available in BSE and NSE.

70
ICICI Direct offers 3 different online trading platforms to its customers.

Type of Account:

1. Share Trading Account:

Share Trading Account by ICICI Direct is primarily for buying and selling of
stocks in BSE and NSE.
This account allows Cash Trading, Margin Trading,
Margin PLUS Trading, Spot Trading, Buy Today Sell Tomorrow and Call and
Trade on phone.

ICICIDirect.com website is the primary trading platform for this trading account.
They also provide installable application terminal based application for high
volume trader.

2. Wise Investment Account:

1. Online Mutual funds investment allows investor to invest on-line in around

19 Mutual Fund companies. ICICI Direct offers various options while
investing in Mutual Funds like Purchase Mutual Fund, Redemption and
switch between different schemes, Systematic Investment plans, Systematic
withdrawal plan and transferring existing Mutual Funds in to electronic
mode. This account also provides facility to invest in Government of India
Bonds and ICICI Bank Tax Saving Bonds.

2. Active Trader account gives more personalized investment options to the

investors. It allows investor to use online and offline stock trading. It also
provides with independent market expertise and support through a
dedicated Relationship Manager from ICICI.

71
Active Trader also provides commodity trading.

Brokerage and fees

Account opening fees : Rs 750/- (One time nonrefundable)

Brokerage: ICICIDirect.com brokerage varies on volume of trade and inclusive of

demat transaction charges, service taxes and courier charges for contract notes. It
ranges from 0.1% to 0.15% for margin trades, 0.2% to 0.425% for squared off
trades and 0.4% to 0.85% on delivery based trades.

Disadvantages of ICICI Direct:

1. Getting access to ICICIDirect.com website during

market session can be frustrating.

5Paisa.com
5paisa is the trade name of India Infoline Securities Private Limited (5paisa),
member of National Stock Exchange and The Stock Exchange, Mumbai. 5paisa is
a wholly owned subsidiary of India Infoline Ltd, India’s leading and most popular
finance and investment portal. 5paisa has emerged as one of leading players in e-
broking space in India.

72
The company’s brokerage is one of the lowest in the industry. It also provides the
research on commodities. Investors can benefit from its analysis and advice
available at the click of the mouse. For those who prefer to trade the traditional
way, India Infoline investor points are available across the country.

India Infoline was founded by a group of professionals in 1995. Its institutional

investors include Intel Capital, one of the leading technology companies in the
world promoted by the U K government, ICICI, TDA and Reeshanar. The
company offers a slew of products such as stock and derivatives broking,
commodities broking and mutual funds.

India Bulls
Indiabulls is India's leading retail financial services company with 77 locations
spread across 64 cities. Its size and strong balance sheet allows providing varied
products and services at very attractive prices, our over 750 Client Relationship
Managers are dedicated to serving your unique needs.

Indiabulls is lead by a highly regarded management team that has invested crores
of rupees into a world class Infrastructure that provides real-time service & 24/7
access to all information and products. The Indiabulls Professional Network
offers real-time prices, detailed data and news, intelligent analytics, and electronic
trading capabilities, right at your finger-tips. This powerful technology is
complemented by our knowledgeable and customer focused Relationship
Managers.
Indiabulls offers a full range of financial services and products ranging from
Equities, Derivatives, Demat services and Insurance to enhance wealth.

73
 Kotak Securities Limited (kotakstreet.com):

Kotak Securities Ltd., a strategic joint venture between Kotak Mahindra Bank and
Goldman Sachs (holding 25% - one of the world’s leading investment banks and
brokerage firms) is India’s leading stock broking house with a market share of 5 - 6
%. Kotak Securities Ltd. has been the largest in IPO distribution - It was ranked
number One in 2003-04 as Book Running Lead Managers in public equity
offerings by PRIME Database. It has also won the Best Equity House Award from
Finance Asia - April 2004.

The company has a full fledged research division involved in Macro Economic
studies, sectoral research and company specific equity research combined with a
strong and well networked sales force which helps deliver current and up to date
market information and news.
Kotak Securities Ltd is also a depository participant with National Securities
Depository Limited (NSDL) and Central Depository Services Limited (CDSL)
providing dual benefit services wherein the investors can use the brokerage
services of the company for executing the transactions and the depository services
for settling them.

The company has 42 branches servicing around 1, 00,000 customers.

Kotakstreet.com the online division of Kotak Securities Limited offers Internet
Broking services and also online IPO and Mutual Fund Investments.

Kotak Securities Limited manages assets over 1700 crores under Portfolio
Management Services (PMS) which is mainly to the high end of the market. Kotak
Securities Limited has newly launched “Kotak Infinity” as a distinct discretionary
Portfolio Management Service which looks into the middle end of the market.

74
 Motilal Oswal Securities Ltd. (MOSt):

One of the top-3 stock-broking houses in India, with a dominant position in both
institutional and retail broking, MOSt is amongst the best-capitalized firms in the
broking industry in terms of net worth.

MOSt was founded in 1987 as a small sub-broking unit, with just two people
running the show. Focus on customer-first-attitude, ethical and transparent
business practices, respect for professionalism, research-based value investing and
implementation of cutting-edge technology have enabled it to blossom into a
thousand-member team.
The institutional business unit has relationships with several leading foreign
institutional investors (FIIs) in the US, UK, Hong Kong and Singapore. In a recent
media report MOSt was rated as one of the top-10 brokers in terms of business
transacted for FIIs.

The retail business unit provides equity investment solutions to more than 50,000
investors through 270 outlets spanning 150 cities and 22 states. MOSt provides
Advice-Based Broking, Portfolio Management Services (PMS), E-Broking
Services, Depository Services, Commodities Trading, and IPO and Mutual Fund
Investment Advisory Services. Its Value PMS Scheme gave a 160% post-tax return
for the year ended March 2004.

With value investing at the core of its investment philosophy, a strong research
team consistently provides high-performance ideas.
MOSt’s equity research has been consistently ranked very highly in surveys
conducted by leading international publications like Asiamoney and Institutional
Investor. In Asia Money Brokers Poll 2003 MOSt has been rated as the Best
Domestic Research House - Mega Funds ,while in 2000 and 2002 it has been rated
as the Best Domestic Equity Research House and Second best amongst Indian
Brokerage firms respectively.

75
 IDBI Capital Market Services Ltd.
IDBI Capital is a leading Indian securities firm offering a complete suite of
products and services to individual, institutional and corporate clients.
IDBI Capital Market Services Ltd. (IDBI Capital), a wholly owned subsidiary of
Industrial Development Bank of India (IDBI), is a leading Indian securities firm,
offering a complete suite of products and services to individual, institutional and
corporate clients. Our services include fixed income trading, equities brokerage,
debt and equity derivatives, research, private placements, depository services,
portfolio management and distribution of financial products. Over the last five
years, we have emerged as a leading player in each of these businesses.

 March 1995 - Commenced Equity Broking on NSE CM segment

 July 1995 - Built agent Distribution Network across the country

 October 1996 - Commenced Debt Broking on NSE WDM segment

 December 1996 - Started operations as a Depository Participant

 1996 - Started to act as Arranger to Privately Placed Bond issues

 April 1998 - Commenced operations as a Portfolio Manager

 February 1999 - Acquired membership of BSE, Mumbai

 November 1999 - Started operations as a Primary Dealer

 June 2000 - Acquired Derivatives memberships of BSE and NSE

 March 2002 - Achieved an outright secondary market turnover exceeding

Rs100,000 cr in G-Secs

76
  October 2002- Commenced trading in Interest Rate Swaps

Refco - Sify Securities India Pvt. Ltd

Refco-Sify Securities India Pvt. Ltd., headquartered in Mumbai, is a joint venture
between the Refco Group Holding Ltd., USA; and Satyam Infoway Limited
(NASDAQ: SIFY) to offer online and offline equity and derivatives trading for
retail customers as well as execution and clearing services for financial institutions.

Refco also provides clients with prime brokerage services, fixed income, equities,
foreign exchange, OTC derivatives and asset management.

Refco is a leader in providing clients with the latest technological advances in

products and services. Its proprietary systems and global infrastructure provide the
flexibility to meet all client requirements.

Client service is what sets Refco apart from its competitors. Refco understands the
unique business requirements of each of its clients and tailors its products and
services to meet those requirements.

UTI SECURITIES LTD.: (UTISEL)

UTI Securities Ltd was incorporated on June 24, 1994 by Unit Trust of India as a
100% subsidiary and on the repealing of the UTI Act, the capital is now held by
the Administrator of the Specified Undertaking of Unit Trust of India (ASUUTI).
UTI Securities has been working as an independent professional entity for
providing financial intermediary and advisory services to its corporate and retail
clientele.

The Company has presence in major cities with 20 branches and 50 franchisees to
service a wide range of clients. The company has also invested in the joint-venture
company with Standard Chartered Bank viz. Standard Chartered UTI Securities
(P) Ltd. that is engaged in primary dealership and Government securities. The
company is very soon going to start Commodity Trading through its subsidiary,
USEc Commodities Ltd, which provides facility of commodity trading on NCDEX
and MCX.

77
 KARVY

Karvy is a premier integrated financial services provider, and ranked among the
top five in the country in all its business segments, services over 16 million
individual investors in various capacities, and provides investor services to over
300 corporate, comprising the who is who of Corporate India. Karvy has a
professional management team and ranks among the best in technology, operations
and research of various industrial segments.

History of Karvy :- The birth of Karvy was on a modest scale in 1981. It began
with the vision and enterprise of a small group of practicing Chartered Accountants
who founded the flagship company, Karvy Consultants Limited. They started with
consulting and financial accounting automation and carved inroads into the field of
registry and share accounting by 1985. Since then, karvy utilized its experience
and superlative expertise to go from strength to strength, to better their services, to
innovate, diversify and in the process, evolved as one of India’s premier integrated
financial service enterprise.

Religare Securities Limited (RSL)

Religare Securities Limited (RSL), a 100% subsidiary of Religare nterprises

Limited is a leading equity and securities firm in India. The company urrently
handles sizeable volumes traded on NSE and in the realm of online trading and
investments; it currently holds a reasonable share of the market. The major
activities and offerings of the company today are Equity Broking,
Depository Participant Services, Portfolio Management Services, International
Advisory Fund Management Services, Institutional Broking and Research
Services. To broaden the gamut of services offered to its investors, the
company offers an online investment portal armed with a host of revolutionary

78
features.
• RSL is a member of the National Stock Exchange of India, Bombay
Stock Exchange of India, Depository Participant with National
Securities Depository Limited and Central Depository Services (I)
Limited, and is a SEBI approved Portfolio Manager.
• Religare has been constantly innovating in terms of product and services
and to offer such incisive services to specific user segments it has also
started the NRI, FII, HNI and Corporate Servicing groups. These groups
take all the portfolio investment decisions depending upon a client’s risk
/ return parameter.
• Religare has a very credible Research and Analysis division, which not
only caters to the need of our Institutional clientele, but also gives their
valuable inputs to investment dealers.

79
 SHAREKHAN ICICIDIRECT RELIGARE HDFCSEC 5PAISA INDIABUL
.COM LS
. COM . COM . COM

NIL 750/-(waive 20550/-(20,000 750/- 420/-(fresher) 700/-

A/C off if trading is as margin) (EXISTINGR And 250/-
OPENING more than Rs. ELATIONSH (Traders)
CHARGE 1 lakh) IP)
S OR 799/-

FREE (1ST FREE FOR 30 p.m. 500 p.a. 250/-P.A. NO AMC

YEAR) 1ST YEAR
DEMAT AND 415/- AND 300/-
A/C P.A. P.A. FROM
FROM 2ND YEAR
CHARGE 2ND YEAR ONWARDS
S ONWARDS

2(CLASSIC & Web based 5type(1.HMR Web based 2(TRADER Web based
TRADE GATEWAY TERMINAL,
TYPE OF TIGER) A/C, HMR INVESTOR
ACCOUN VALUE A/C, TERMINAL)
T HMR
PRIVILEGE
A/C, HMR
HIGHTRADE
R A/C,
HMR
FREEWAY
A/C)

80
TRADING BOTH WEBSITE Both are WEBSITE BOTH WEBSITE
THROUG Software
H 1. Keat
WEBSITE Desktop
OR SOFT- 2. Keat
WARE Premium

SHAREKHAN ICICIDIRECT HMRSTREET HDFCSEC 5PAISA INDIA

.COM .COM .COM .COM .COM BULLS

NSE/BSE/ NSE/BSE/ NSE/ NSE NSE/ NSE/

DERIVA- NSE/BSE/ MUTUAL DERIVATIVE DERIVATIVE DERIVATI
TIVES/ DERIVATIVES FUNDS/ S/ S/ VES
ARBIT- Derivatives MUTUAL ARBITRAGE
RAGE/ FUNDS ON
MUTUAL DELIVERY/M
FUNDS UTUAL
FUNDS

SOFT- Nil N.A. 500/- or 300 N.A. 1000/- N.A.

WARE /-p.m. commitment of
CHARGE (NEGOTIABL brokerage
S E ON
VOLUME)

DAIL-N- UNLIMITED On 21st 15/- TO 25/- RM Local call RM

TRADE call Rs 20/- FROM 21ST NUMBER charges NUMBER
per call(P.M.) CALL PROVIDED PROVIDED
FOR FOR
TRADING TRADING

0.05 % OR
DEMAT NIL INCLUDING .04% OR RS. .04% or Rs. minimum of RS. 17/-
TRANSAC- (THROUGH IN 25/- ON 25 whichever Rs. 20/- per PER
TION SHRAKHAN) BROKERAGE SELLING is higher instruction TRANSAC
CHARGES whichever (ON TION

81
 is higher SELLING) (ON
SELLING)

TIE UP HDFCBANK, ICICIBANK HMR HDFCBAN HDFC Bank, HDFC

WITH IDBIBANK, ONLY MAHINDRA K ONLY ICICI Bank, BANK,
BANKS CITI BANK, (COMPULSO BANK (COMPULS UTI Bank, ICICIBAN
UTIBANK, RY) CITI BANK ORY) Citibank, K,
OBC, UTIBANK Global Trust ABNAMRO
ICICI BANK, HDFCBANK Bank or BANK,
YES BANK, (COMPULSIO Centurion STANCHA
UNION N) Bank RT BANK,
BANK OF CITIBANK
INDIA,
CANARA
BANK,
INDUSIND
BANK

SHAREKHAN ICICIDIRECT HMR HDFCSEC 5PAISA INDIABUL

.COM .COM STREET. .COM .COM LS
COM

BUY YES YES BUT YES, NO YES YES

TODAY ONLY ON UPTO 75%
SELL 127 SCRIPS SHARES
TOMOR- OF NSE VALUE
ROW

IPO YES YES YES NO YES NO

ONLINE

SMS 100 P.M. YES 100/- P.M. NO NO NO

ALERTS

RESEA- FREE 450 P.A. FREE FREE FREE PAID 100/-

RCH P.M
REPORTS

82
 4 to 6 4 TIMES
MINIMU 4 TO 6.7 4 TIMES 4 TO 6 TIMES 4 times times(online) ONWARDS
M TIMES 10
MARGIN times(Offline)
EXPO-
SURE
5000/-,1,00,00 500
MINIMU Nil 5000/- 0/-or 5000/- 5000/- BLOCKED
M 5,00,000/- BY

MARGIN (according to THE

account) SYSTEM

Volume Nil Nil Yes, according Nil Rs 1000/- NIL

require- to Commitment as
ment product brokerage

BROKE- .1% .1%to.15% .06% .15% .05% .1%

RAGE (INTRADAY) (INTRA- (INTRADAY) (INTRA- (INTRA-DAY) (INTRADA
.5% DAY) .59% DAY) .25% Y)
(DELIVERY) .4% to .85% (DELIVERY) .5% (DELIV-ERY) .5%
(DELIVERY (DELIV- (DELIVER
ERY) Y)
(excluding
taxes)

83
 OBJECTIVE
The primary objective is:

 Checking the awareness level of online share trading.

 Evaluation of preferred investments in various mode and industry.

 To collect the real time information about preference level of customers

using Demat account and their inclination towards various other brokerage
firms e.g. India bulls, Angel broking, India infoline, Religare, Alan- kit,
Unicon.

 To expand the market penetration of Sharekhan ltd.

 To provide pricing strategy of competitors to fight cut throat competition.

 Study of influencing factors affecting the purchase decision.

 Analyzing the preferred broking house.

 Checking the satisfaction level of the customers towards preferred broking

house.

The secondary objective is:

 To make clients and let them know about the different services offered by
the SHAREKHAN.

 To understand the problem faced by customers and finding way to solve the
queries.

84
 RESEARCH METHODOLOGY
INTRODUCTION

Research Methodology refers to search of knowledge .one can also define research
methodology as a scientific and systematic search for required information on a
specific topic.
The word research methodology comes from the word “advance learner ‘s
dictionary meaning of research as a careful investigation or inquiry especially
through research for new facts in my branch of knowledge for example some
author have define research methodology as systematized effort to gain new
knowledge.
Methodology of the project starts with –

 In the first phase we are trained and they teach us different things
about market.

 After that they conduct a mock viva, in this they ask about the real life
problem faced by the customers.

 They provide leads and after that we make calls.

 Then after that we have to provide details of product and convince

them.

 Then we have to visit them and get the formed filled from them.

 Maintaining dairy of clients and contacting them at regular basis.

 Get the knowledge of technical as well as fundamental methods.

 Observe the patterns of the scripts.

85
Exploratory Research:

Exploratory research is a type of research conducted because a problem

has not been clearly defined. Exploratory research helps determine the best
research design, data collection method and selection of subjects. Given its
fundamental nature, exploratory research often concludes that a perceived
problem does not actually exist.

Exploratory research often relies on secondary research such as reviewing

available literature and/or data, or qualitative approaches such as informal
discussions with consumers, employees, management or competitors, and
more formal approaches through in-depth interviews, focus groups,
projective methods, case studies or pilot studies.

The results of exploratory research are not usually useful for decisionmaking
by themselves, but they can provide significant insight into a given situation.
Although the results of qualitative research can give some indication as to the
"why", "how" and "when" something occurs, it cannot tell us "how often" or "how
many."

Exploratory research is not typically generalizable to the population at large.

Research is exploratory when you use no earlier model as a basis of your study.
The most usual reason for using this approach is that you have no other choice.
Normally you would like to take an earlier theory as a support, but there perhaps is
none, or all available models come from wrong contexts.

Exploratory research means that hardly anything is known about the matter at the
outset of the project. You then have to begin with a rather vague impression of
what you should study, and it is also impossible to make a detailed work plan in
advance.

Analysis in exploratory research is essentially abstraction and generalization.

Abstraction means that you translate the empirical observations, measurements etc.
into concepts; generalization means arranging the material so that it disengages

86
from single persons, occurrences etc. and focuses on those structures (invariances)
that are common to all or most of the cases.
It will seldom be possible to divide exploratory study into such clear phases as is
common in the case that the object has been studied earlier. According to
Alasuutari (1993 p.22), in qualitative analysis of empirical findings, you can
distinguish two phases but these two overlap:

· simplification of observations

· interpretation of results (or "solving the enigma")

In the simplification phase, the material is inspected from the theoretical point of
view of the study project, and only the points relevant from this angle are noted.
Details differing from one individual to another at random are omitted or pushed
aside so that the general lines of the data can be discerned more easily.

Simplification continues by finding the relationships between separate bservations

or cases. Some tools for this work are comparison and classification. The goal is to
find the general rule or model that is valid in all or most of the observations. This
model can be, for example, development or evolution, causality, or a conscious
action to attain an outcome which is typical in normative research. -- In any case
the analysis starts from separate cases and aspires to create one or a few general
models.

"Solving the enigma" does not always mean answering exactly those questions that
were asked at the outset of the project. Sometimes the most interesting questions
are found at the end of the research, when the researcher has become an expert on
the subject. It is often said that "data teach the researcher".

The purpose of descriptive exploratory research is to extract a structure from the

source material which in the best case can be formed as a rule that governs all the
observations and is not known earlier (per the definition of exploratory study).
Finding the unknown structure may need some creative innovation, because even
the most sophisticated computerized analysis methods cannot automatically
uncover which type of structure is concealed in data. Usually you first have to
formulate a tentative pattern for the assumed structure in the observations and then
you can ask the computer to estimate how well the data corresponds to the model,
cf. Tools for Analysis.

87
 METHODS OF DATA COLLECTION

In the project work Primary data secondary data (both) sources of data has been
used .

1. Primary data collection:

In dealing with real life problem it is often found that data at hand are inadequate,
and hence, it becomes necessary to collect data that is appropriate. There are
several ways of collecting the appropriate data which differ considerably in context
of money costs, time and other resources at the disposal of the researcher.

Primary data can be collected either through experiment or through survey.

The data collection for this study was done in the following manner:

Through personal interviews:-

A rigid procedure was followed and we were seeking answers to many pre-
conceived questions through personal interviews.

Through questionnaire:-
Information to find out the investment potential and goal was found out through
questionnaires.

Through Tele-Calling:-
Information was also taken through telephone calls.

2. Secondary sources of data:

In the secondary sources of data is used. (Internet , magazine ,books, journals)

88
In research, secondary data is data collected and possibly processed by people
other than the researcher in question. Common sources of secondary data for social
science include censuses, large surveys, and organizational records. In sociology
primary data is data you have collected yourself and secondary data is data you
have gathered from primary sources to create new research. In terms of historical
research, these two terms have different meanings. A primary source is a book or
set of archival records. A secondary source is a summary of a book or set of
records.

Secondary data analysis:

There are two different types of sources that need to be established in order to
conduct a good analysis. The first type is a primary source which is the initial
material that is collected during the research process. Primary data is the data that
the researcher is collecting themselves using methods such as surveys,direct
observations, interviews, as well as logs(objective data sources). Primary data is a
reliable way to collect data because the researcher will know where it came from
and how it was collected and analyzed since they did it themselves. Secondary
sources on the other hand are sources that are based upon the data that was
collected from the primary source.

Secondary sources take the role of analyzing, explaining, and combining the
information from the primary source with additional information. Secondary data
analysis is commonly known as second-hand analysis. It is simply the analysis of
preexisting data in a different way or to answer a different question than originally
intended. Secondary data analysis utilizes the data that was collected by someone
else in order to further a study that you are interested in completing. Common
sources of secondary data are social science surveys and data from government
agencies, including the Bureau of the Census, the Bureau of Labor Statistics and
various other agencies. The data collected is most often collected via survey
research methods. Data from experimental studies may also be used.

Sources of secondary data:

Sources of secondary data may be classified into qualitative and quantitative.

Examples of qualitative sources are biographies, memoirs, newspapers, etc.
Quantitave sources include published statistics (e.g., census, survey), data archives,
market research, etc.[1] Today, with the aid of our internet capabilities, thousands
of large scale datasets are at the click of a mouse for secondary data analyst.

89
Globally, there are many sources available. These sources can arrive from the data
arranged by governmental and private organizations, to data collected by any
social researcher.

Secondary data analysis is a growing research tool in our modern day society.
Social scientists have the opportunity to explore massive amounts of secondary
data.

Collecting, reviewing, and analyzing secondary data

The Design and Purpose of Research

Secondary data analysis consists of collecting data that was compiled through
research by another person and using that data to get a better understanding of a
concept. A good way to begin your research using secondary data that you are
collecting to further support your concept is to clearly define the goals of your
research and the design that you anticipate using. An important thing to remember
when defining your plan is to ensure that you have established what kind of data
you plan on using for your research and the exact goal. Establishing what type of
research design is an important component. In terms of using secondary data for
research it helps to create an outline of what the final product will look like
consisting of all the types of data to be used along with a list of sources that were
used to compile the research. In order to use secondary data three steps must be
completed:

1. locate the data

2. evaluate the data

3. verify the data

Locating the data can be easily done with the advancements of searching sources
online. However, people need to be aware of the details when searching online
since pages can be out of date or poorly put together.

Therefore, use caution and pay attention to whether it is a reliable data source
online and check when the last update was. To evaluate the data a researcher must
carefully examine the secondary data they are considering to ensure that it meets

90
their needs and purpose of study. The person must look at the population and what
the sample strategy and type were. It is also important to look at when the data was
collected, how it was collected, how it was coded and edited, along with the
operational definitions of measures that were used. Finally, the data must be
verified to ensure good quality material to be used in new research.

Determining the Types of Data and Information Needed to Conduct

Analysis

Data and information collection for secondary data analysis will depend entirely
upon the subject that is central to the focal point of the study. The purpose of
conducting secondary data analysis is to further develop an improved
understanding of the subject matter at hand. Some important types of data and
information that should be collected and summarized include demographic
information, information gathered by government agencies (i.e. the Census), and
social science surveys. There is also the possibility of reanalyzing data that was
collected in experimental studies or data collected with qualitative measures that
can be applied in secondary data analysis. The most important component is to
ensure that the information and data being collected needs to relate to the subject
of study.

Determine the Quality of Sources of Data

In secondary data analysis, most individuals who do not have much experience in
research training or technical expertise can be trained accordingly. However, this
advantage is not without difficulty as the individual must be able to judge the
quality of the data or information that has been gathered. These key tips will assist
you in assessing the quality of the data: Determine the original purpose of the data
collection, attempt to discover the credentials of the source(s) or author(s) of the
information, consider if the document is a primary or secondary source, verify that
the source well-referenced, and finally find out the: date of the publication; the
intended audience, and coverage of the report or document.

RESEARCH DESIGN

91
 For the proper analysis of data simple quantitative technique such as percentage
were used. It help in marketing more accurate generalization From the data
available .The data which was collected from a sample of population was
assumed to be representing entire population was interested .Demographic
factor like age, income and educational background was used for the
classification purpose .

On The Job Training

On the job training is an important component of our training. It is an attempt to
bridge the gap between the academic institution and the corporate world. During
OJT, which would be a simulation of real work environment, requires you to
undergo the rigor of professional environment, both in form and in substance. In
the process, it provides an opportunity for us to satisfy our inquisitiveness about
corporate, provides exposure to technical skills, and helps us to acquire social
skills by being in constant interaction with the professionals of other organizations.

During OJT we are required to undertake assignment\jobs along with the day-to-
day function of the company, both at the assistance and execution level. This will
help to gain a deeper understanding of the work, culture, deadlines, and pressure
etc. of an origination.

STRATEGY –
· Tele-calling

· Personal appointments

· Making arrangements for the requirements

· Open Demat Account

· Again visit for trading

92
 DATA ANALYSIS AND
INTERPRETATION

Q1. In which of these Financial Instruments do you invest into?

Financial Instrument Percentage of respondent
Mutual Fund 75%
Bond 16%
Online trading 7%
Derivative 2%

Result of Preference of
Investment

Interpretation:

93
This shows that although the mutual funds market is on the rise yet, the most
favored investment continues to be in the Share Market. So, with a more
transparent system, investment in the Stock Market can definitely be increased.

Q2. Are you aware of online Share trading?

Aware of online share trading Percentage of respondent

Yes 72%
No 28%

Result of awareness of online trading

Interpretation:

With the increase in cyber education, the awareness towards online share trading
has increased by leaps and bounds. This awareness is expected to increase further
with the increase in Internet education.

94
Q3. Heard about Sharekhan ltd.?

Awareness of Sharekhan ltd. Percentage of respondent

Yes 70%
No 30%

Interpretation:

This pie-chart shows that This brand image should be further leveraged by the
company to increase its market share over its competitors.

95
Q4. Do you know about the facilities provided by Sharekhan ltd.?

Awareness of Sharekhan ltd. Percentage of respondent

Services
Yes 36%
No 64%

Awareness of Sharekhan ltd.Facilities

36%

yes
64%
No

Interpretation:

Although there is sufficiently high brand equity among the target audience yet, it is
to be noted that the customers are not aware of the facilities provided by the
company meaning thereby, that, the company should concentrate more towards

96
promotional tools and increase its focus on product awareness rather than brand
awareness.

Q.5 Which company provide a less BROKARAGE rate ?

Company Name Percentage of respondent

Sharekhan ltd. 22
HDFC 11
ICICI 17

INTERPRTETATION:

97
44% have respondent of Sharekhan ltd., 22% have respondent of HDFC, 34% have
respondent of ICICI.

Q. 6 Which company provide you a large number of product and

services?

Company Name Percentage of respondent

Sharekhan ltd. 22
HDFC 10
ICICI 18

98
INTERPRETATION:-

44% have respondent of Sharekhan ltd., 20% have respondent of HDFC, 36% have
respondent of ICICI.

Q. 7 How many of you satisfy with the level of current broker?

Satisfactionlevel amongCustomerswith
currentbroker

Yes - 92% No- 8%

Interpretation:
This pie chart accentuates the fact that Strategic marketing, today, has gone beyond
only meeting Sales targets and generating profit volumes. It shows that all the
competitors are striving hard not only to woo the customers but also to make them
Brand loyal by generating customer satisfaction.

99
Q. 8 How many of do training:

A) Daily
B) Monthly
C) Weekly
D) Yearly

Frequency of Trading

Daily - 9%
Weekly - 27%
Monthly -53%
Yearly -11%

Interpretation:

In spite of the huge returns that the share market promises, we see that there is still
a dearth of active traders and investors. This is because of the non – transparent
structure of the Indian share market and the skepticism of the target audience that
is generated by the volatility of the stock market. It requires efficient bureaucratic
intervention on the part of the Government.

100
Q. 9According to your perspective which investment gives you
maximum return?

(1) Share market

(2) Mutual funds

(3) Purchasing insurance policy

share market

mutual funds

purchasing insurance
policies

Interpretation

As of today people believe in secured investment with no risk & high return. So
insurance policy are the best option for them as they give good return after a
period of time .Share market has also come up in a big way though the risk factor
is a bit too high despite good return.

101
Represent a pie chart

102
 OBSERVATION
To study the sales and distribution management and improve the
Customer Acquisition Process by analyzing the consumer behavior,
response and mindset towards the product and services the company
offers.

1. Preference of Investment:

Consumers want to invest 75% in Mutual funds, 16% in Bonds, 7% in

online trading and 2% in Derivatives.
2. Awareness on Online Share Trading:
72% consumers are aware of online share trading and 28% consumers are
not aware of online share trading.
3. Awareness of Sharekhan ltd.:

70% consumers are know about Sharekhan ltd. and 30% consumers are
not know about Sharekhan ltd.

4. Awareness about facilities provided by Sharekhan ltd. :

36% consumers are aware about the facilities provided by Sharekhan ltd.
and 64% consumers are not know about the facilities provided by
Sharekhan ltd.

5. Provide a less BROKARAGE rate:

44% have respondent of Sharekhan ltd., 22% have respondent of HDFC,

34% have respondent of ICICI.
6. Provide a large no. of Products and services:

103
 44% have respondent of Sharekhan ltd., 20% have respondent of HDFC,
36% have respondent of ICICI.

FINDINGS
 According to the survey most of the customers of “Sharekhan Ltd” says that it is
pocket friendly.
 Coming to faith 70% say Sharekhan Ltd is better than others stock brokers due to
customers satisfaction.
 Main purposes of investments are returns & liquidity.
 Investors take risk as well as returns into their mind while making the investment.
 Businessmen are more interested in the stock market than the others.
 Commodity market is less preferred by the investors.
 People want to invest their money in the security market but they haven’t the
proper knowledge.
 People are not aware of hedging in stock market.
 People pay more emphasis on brokerage than service provided by brokerage

houses.

104
 LIMITATION

• Lack of awareness of capital market:

Since the area is not known before it takes lot of time in convincing people to
start investing in shares primarily in IPO’s.

• Some people are comfortable with traditional system:

As people are doing trading from there respective brokers, they are quite
comfortable to trade via physical form of paper.

• Lack of Techno Savvy people and poor internet penetration:

Since most of the people are quite experienced and also they are not techno
savvy. Also Internet penetration is poor in India.

• Some respondents are unwilling to talk:

Some respondents either do not have time or willing does not respond, as they
are quite annoyed with the phone call.

• Inaccurate Leads:
Sometimes leads are provided which had error in it, which varies from only 5-
digit phone number to wrong phone number

105
 • Misleading concepts:

Some people think that as all the shares are in electronic form and they don’t
have any physical proof. Sometimes this leads to a great misconception of the
entire process.

• The time constraint was one of the major problems.

• The study is limited to the different schemes available under the Demat
account selected.

• The lack of information sources for the analysis part.

• Geographical locations.

• Extreme variability in MARKET.

106
 SUGGESTIONS

1. MORE BRANCHES –

Need to open more branches to be a topper in market Because it has a

low distribution network.

2. LESS TIME –

They should try to make some arrangements to reduce account opening

time by verifying documents at branch it selves.

3. LINK-BANK A/Cs –

Linked as many accounts as client wants to its online account.

4. NEW BANKS IN THE KITTY –

Need to tie up with major banks like SBI, Allahabad Bank, Bank of Baroda etc.

5.CUSTOMER SATISFACTION –

The company should focus on the customer satisfaction not on just taking money
from their pocket.

7.CONTROLLED BRANCHES –

The company would have to make some arrangements to control the branches and
make standardized procedures for all of them for their better control and
performance appraisal.

107
 Commitment should be equalized for every person.

 Provide the facility of free demonstrations for all.

 Improvement in the opening of De-mat & contract notice procedure is

required.

 There should be a limited number of clients under the relationship manger. So

that he can handle new as well as old customer properly.

 Some promotional activities are required for the awareness of the customer.

 People at young age should be encouraged to invest in stock market.

 Seminars should be held for providing information to prospective and present

customers.

108
 CONCLUSION
On the basis of the study it is found that Sharekhan Ltd is better services provider
than the other stockbrokers because of their timely research and personalized
advice on what stocks to buy and sell. Sharekhan Ltd. provide the facility of Trade
tiger as well as relationship manager facility for encouragement and protect the
interest of the investors. It also provides the information through the internet and
mobile alerts that what IPO’s are coming in the market and it also provides its
research on the future prospect of the IPO.

Study also concludes that people are not much aware of commodity market and
while it’s going to be biggest market in India.

The company should also organize seminars and similar activities to enhance the
knowledge of prospective and existing customers, so that they feel more
comfortable while investing in the stock market.

109
 BIBLIOGRAPHY
Websites:

1. www.Google.com
2. www.bseindia.com
3. www.nseindia.com
4. www.moneycontrol.com
5. www.sharekhan.com
6. www.icicidirect.com
7. www.5paisa.com
8. www.Indiabulls.com
9. www.hdfcsecurities.com
10. WWW.KARVY.COM

NEWSPAPERS:

1. ECONOMIC TIMES
2. TIMES OF INDIA

110
3. FINANCIAL EXPRESS

111