A Summer Training Report

On
“A STUDY ON CONSUMER INVESTMENT BEHAVIOUR”

Submitted in Partial fulfillment of the requirements

for the award of the Degree of

MASTER OF BUSINESS ADMINISTRATION (MBA)

Guru Gobind Singh Indraprastha University
(Session 2017-2019)

Under the guidance: Submitted by: Annu Gautam

Dr. Samarth Singh MBA 3rd Semester
Associate Professor Roll no. : 41115103917

Management Education and Research Institute

53-54, Institutional Area, Janakpuri, New
Delhi-110058
 Where We Bridge the Financial Gap

Date: 1st August 2018

To whomsoever it May Concern

This is to certify that Ms. Annu Gautam has successfully completed her
th
internship from 1st June 2018-25 July 2018. During her internship
organization found her to be regular and hardworking.

+
Grade Allotted:

Best Wishes

(Authorized Signatory)

Anna Gupta

Country Head- Human Resources

Stallion Capital Management

Stallion Capital Management 011-40079344

408 RG Trade Tower, Netaji Subash Place-110034 info@stallioncap.in
www.stallioncap.in
 DECLARATION BY THE STUDENT

I Annu Gautam hereby declare that the Project entitled “A study on consumer
investment behaviour” has been prepared by me towards the partial fulfilment of
requirement of Master of Business Administration (MBA) Degree under the
guidance of Dr. Samarth Singh.

I also declare that this project report is my original work and has not Benn
previously submitted for the award of any Degree, Diploma, Fellowship, or other
similar titles.

Place: New Delhi Candidate’s signature

Date: ANNU GAUTAM

3
 ACKNOWLEDGEMENT

Many persons have contributed to make this project report on “A study on

consumer investment behaviour” a reality. I would especially like to express my
appreciation to Dr. Samarth Singh for his unstinted support, encouragement and his
painstakingly and meticulous effort towards developing this project.

I acknowledge the help and cooperation received from all the faculty members of
Stallion Capital Management. Several colleagues and students have contributed
directly and indirectly to the contents of this project, as they had given me
numerous ideas. Their criticism gave me the much-needed hints about the areas
that needed elaboration and amendments and also to present them with greater
clarity.

Finally, I wish to express my sincere thanks to all my family members, especially

my Parents for their constant moral support and Encouragement.

I would Welcome Constructive Suggestions to improve this project report, which

can be implemented in my further attempts.

Thanking you!

Annu Gautam
Enrollment No.: 41115103917

4
 TABLE OF CONTENTS

S. No. Topic Page no.

01 INTRODUCTION 8-11

02 LITERATURE REVIEW 12-29

1) Literature review 13
2) Introduction to Investment 14-15
3) Objectives of investment 16-20
4) Investment Process 21-24
25-29
5) Various options available for Investment

03 COMPANY PROFILE 30-36

1) Stallion Capital Management 31
2) Vision Statement 32
3) Mission Statement
32
4) Products and Services
32-33
5) Clients
34
6) Key competitors
35
7) SWOT analysis 36

04 NEED, SCOPE AND OBJECTIVE OF THE STUDY 37-40

05 RESEARCH METHODOLOGY 41-43

06 DATA ANALYSIS, INTERPRETATION AND FINDINGS OF THE 44-62

STUDY
07 CONCLUSIONS AND RECOMMENDATIONS 64-65

08 BIBILIOGRAPHY AND ANNEXURE 66-72

5
 PREFACE

There is a vast difference between theory and practical applicability of

management concepts, principles and theories in any industry. This practical
training program in the course is designed with an objective of bridging the gap
between the theory and practical applicability of management concepts and
theories studied during the MBA program and their applicability in an industry.

I am very fortunate to have an opportunity to undergo my project in on “Stallion

Capital Management”.

This Project training has been indeed a great learning experience which has
provided a lot of exposure regarding corporate functional environment in an
industry. It has been a great pleasure for me to do my project work in such an
esteemed organization.

6
 EXECUTIVE SUMMARY

The purpose of this study is to identify changes and trends in the investment behavior of
insurers in Stallion Capital Management.

This research study is all about the feedback given by respondent on various product and
services of Stallion Capital Management During research there were some criteria of collecting
the data from respondents such as I had to collect the data from the respondents of target
segments. I could not do survey out of sample size To collect the data I had used questionnaire
and observations method.

This project gives us a detailed idea of consumer investment behavior.

By looking at the starting of the project you will find-
 Why should one invest?
 Investment objectives
 Types of investors
 Investment process
 Various financial options available for investment

This project also defines the objective of the study which includes,
To study about investor behavior
Income group level matters while taking decision
Time period for investment
Factors affecting investment decision

The solution to above objectives is provided through a detailed research.

After the theoretical part I have included the research part. A questionnaire has been constructed
for collecting primary data and secondary data through web, newspapers, magazines, company

7
websites etc. Samples of 70 respondents have been approached randomly for eliciting
information, and few column and pie charts are used for analysis and interpretation.

However, the study is subjected to few limitations such as time constraints, and the study is done
only in Delhi where 70 respondents were approached which is also a major limitation. This
research was conducted to analyze the investors need and wants and depending upon the needs,
how could we educate them to not just to rely on traditional investment option but invest on
capital market for investments.

Findings:

 Throughout the research it was observed that most of rural people fear capital market.

 People are trapped by local financial pull investments.

 Some people have some myth about capital market.

 People are happy with their traditional investments.

 People are very much conservatives about their investments Risk tolerance level in rural
people is very low.

This study has given me a lot of practical knowledge about investments and investor’s behavior
towards various products and services, and I have learnt a lot of things from respondents like
giving proper education to investors on investment products either by campaign or mass target
advertisement or through social media platform like You tube, Facebook etc., is the way to
make them participate in India in the capital market.

8
 1.
INTRODUCTION
TO THE STUDY

9
 In today’s scenario there has been a major change i.e. economic prosperity all over. The
entire world is talking about the robust growth rates in this part of the world. Higher income
levels and booming stock markets have led to more and more numbers of high net worth
investors (HNIs). This means the availability of huge investible surplus. The investors with
higher risk appetite want to experiment and try new and exotic products in the name of
diversification. This has resulted in emergence of new options within the same or fresh asset
classes. There are more products available within each asset class be it Equity, Mutual Fund,
Gold, Real Estate.
The common perception of investors is to buy when the market supports in uptrend and not to
invest in the falling time. They wait for the stabilization in the market; so in this research, we
would like to draw a clear picture on the trends of traders and investors. Markets have
personalities because investors have emotions. Markets are ultimately driven by people and stock
prices are what individuals make them out to be. People have a tendency to see their own actions
and decisions as totally rational, when the truth is they may not be.
Key points on investor behaviors:
 Investors are often impatient to sell a good stock.
Investors often make a distinction between money easily made from investments, savings
or tax refunds and hard-earned money – found money is more readily spent or wasted.
 People tend to think in extremes – the highly probable news is considered certain, while
the improbable is considered impossible.
 Investors become obsessed with prices and trend-watching, rather than solid information.

The main objective of the study is to find out the need of the current and future investors and to
study on investors behavior. The purpose of the analysis is to determine the investment
behavior of investors and investment preferences for the same. Investor’s perception will
provide a way to accurately measure how the investors think about the products and services
provided by the company.
The objective of the study is briefly discussed below:
 To understand in depth about different investment avenues available in market
  To understand the pattern of the investors at the time of investing.
 To find out the factors that investors consider before investment.

This study will help in gaining a better understanding of what an investors look for in an
investment option. The study could also be used by the financial sector in designing better
financial instrument customized to suit the need of the investors.

11
 2.
Literature Review

12
Literature Review:

Investment is the sacrifice of certain present value for the uncertain future reward It entails
arriving at numerous decisions such as type, mix, amount, timing, grade etc. Further such
decisions making has not only to be continuous but rational too. Instead of keeping the savings
idle you may like to use savings in order to get return on it in the future, which is known as
‘Investment’. There are so many factors that affect the investment behavior of the customers
like lifestyle, interest, Information etc.
1) Literature suggests that major research in investors' behavior has been done by behavioral
scientists such as Weber, Shiller and Shefrin. Shiller who strongly advocated that stock market is
governed by the market information which directly affects the behavior of the investors. Several
studies have brought out the relationship between the demographics such as Gender, Age and
risk tolerance level of individuals. Of this the relationship between Age and risk tolerance level
has attracted much attention.
2) Wallach and Kogan were perhaps the first to study the relationship between risk tolerance and
age. Cohn, Lewellen et.al found risky asset fraction of the portfolio to be positively correlated
with income and age and negatively correlated with marital status. Morin and Suarez found
evidence of increasing risk aversion with age although the households appear to become less risk
averse as their wealth increases. YOO found that the change in the risky asset holdings were not
uniform. He found individuals to increase their investments in risky assets throughout their
working life time, and decrease their risk exposure once they retire.

Panjali and Kasilingam (2015) in their study state that investment behavior of investors can be
studied in various ways. Lifestyle is an another important factor which influences the investment
behavior of the people. So now it becomes important for the intermediaries and capital market
operators to know the lifestyle of the investors to design effective instruments and can motivate
them to enhance their penetration in different financial avenues. The lifestyle of an investor can
be determined by studying their activities, interest and opinion of investors. Lifestyle largely
depends upon the income of the person. It gives clear picture of their saving surplus. The
occupation too influences risk taking behavior.

13
Introduction to Investment :

Investment is the employment of funds with the aim of getting return on it. In general terms,
investment means the use of money in the hope of making more money. In finance, investment
means the purchase of a financial product or other item of value with an expectation of
favorable future returns. Investment of hard earned money is a crucial activity of every human
being. Investment is the commitment of funds which have been saved from current consumption
with the hope that some benefits will be received in future. Thus, it is a reward for waiting for
money. Savings of the people are invested in assets depending on their risk and return demands.

The money you earn is partly spent and the rest saved for meeting future expenses. Instead of
keeping the savings idle you may like to use savings in order to get return on it in the future. This
is called Investment.

Investment is a conscious act of an individual or any entity that involves deployment of money
(cash) in securities or assets issued by any financial institution with a view to obtain the target
returns over a specified period of time.

Why should one invest?

One needs to invest to:

 earn return on your idle resources

 generate a specified sum of money for a specific goal in life
 make a provision for an uncertain future

14
An understanding of the core concepts and a thorough analysis of the options can help an
investor create a portfolio that maximizes returns while minimizing risk exposure. There are Two
concepts of Investment:

1) Economic Investment: The concept of economic investment means addition to the capital
stock of the society. The capital stock of the society is the goods which are used in the
production of other goods. The term investment implies the formation of new and productive
capital in the form of new construction and producers durable instrument such as plant and
machinery. Inventories and human capital are also included in this concept. Thus, an
investment, in economic terms, means an increase in building, equipment, and inventory.

2) Financial Investment: This is an allocation of monetary resources to assets that are expected
to yield some gain or return over a given period of time. It means an exchange of financial
claims such as shares and bonds, real estate, etc. Financial investment involves contrasts written
on pieces of paper such as shares and debentures. People invest their funds in shares, debentures,
fixed deposits, national saving certificates, life insurance policies, provident fund etc. in their
view investment is a commitment of funds to derive future income in the form of interest,
dividends, rent, premiums, pension benefits and the appreciation of the value of their principal
capital. In primitive economies most investments are of the real variety whereas in a modern
economy much investment is of the financial variety.

The economic and financial concepts of investment are related to each other because investment
is a part of the savings of individuals which flow into the capital market either directly or
through institutions. Thus, investment decisions and financial decisions interact with each other.
Financial decisions are primarily concerned with the sources of money where as investment
decisions are traditionally concerned with uses or budgeting of money.

15
Investment Objectives

a) Short term high priority objectives: Investors have a high priority towards achieving certain
objectives in a short time. For example, a young couple will give high priority to buy a house.
Thus, investors will go for high priority objectives and invest their money accordingly.

b) Long term high priority objectives: Some investors look forward and invest on the basis of
objectives of long term needs. They want to achieve financial independence in long period. For
example, investing for post-retirement period or education of a child etc. investors, usually prefer
a diversified approach while selecting different types of investments.

c) Low priority objectives: These objectives have low priority in investing. These objectives are
not painful. After investing in high priority assets, investors can invest in these low priority
assets. For example, provision for tour, domestic appliances etc.

d) Money making objectives: Investors put their surplus money in these kinds of investment.
Their objective is to maximize wealth.

Every investor has common objectives with regard to the investment of their capital.
The importance of each objective varies from investor to investor and depends upon the age and
the amount of capital they have. These objectives are broadly defined as follows.

1. Lifestyle– Investors want to ensure that their assets can meet their financial needs over their
lifetimes.

2. Financial security– Investors want to protect their financial needs against financial risks at all
times.

3. Return– Investors want a balance of risk and return that is suitable to their personal risk
preferences.

4. Value for money– Investors want to minimize the costs of managing their assets and their
financial needs.

5. Peace of mind– Investors don’t want to worry about the day to day movements of markets
and their present and future financial security.

16
 Types of Investors

 Institutional Investors:

An institutional investor is an entity which pools money to purchase securities, real

Property ,and other investment assets or originate loans. Institutional investors include
banks, insurance companies, pensions, hedge funds, REITs, investment advisors,
endowments, and mutual funds. An institutional investor is a nonbank person or
organization that trades securities in large enough share quantities or dollar amounts that it
qualifies for preferential treatment and lower commissions.

 Arbitrageurs / Speculators:

An arbitrageur is a type of investor who attempts to profit from price inefficiencies in the
market by making simultaneous trades that offset each other to capture risk-free profits. An
arbitrageur would, for example, seek out price discrepancies between stocks listed on more
than one exchange by buying the undervalued shares on one exchange while short selling
the same number of overvalued shares on another exchange, thus capturing risk-free profits
as the prices on the two exchanges converge.

 Hedgers:

An investor who takes steps to reduce the risk of an investment by making an offsetting
investment There are a large number of hedging strategies that a hedger can use. Hedgers
may reduce risk, but in doing so they also reduce their profit potential.

 Day traders/Jobbers:

A day trader executes short and long trades to capitalize on intraday market price action
resulting from temporary supply and demand inefficiencies. A day trader often closes all
trades before the end of the trading day, so not to hold open positions overnight. Day traders'
effectiveness may be limited by the bid-ask spread, trading commissions, as well as expenses
for real-time news feeds and analytics software.

17
ELEMENTS OF INVESTMENTS

1) Return: Investors buy or sell financial instruments in order to earn return on them. The return
on investment is the reward to the investors. The return includes both current income and capital
gain or losses, which arises by the increase or decrease of the security price.

2) Risk: Risk is the chance of loss due to variability of returns on an investment. In case of
every investment, there is a chance of loss. It may be loss of interest, dividend or principal
amount of investment. However, risk and return are inseparable. Return is a precise statistical
term and it is measurable. But the risk is not precise statistical term. However, the risk can be
quantified. The investment process should be considered in terms of both risk and return.

3) Time: Time is an important factor in investment. It offers several different courses of action.
Time period depends on the attitude of the investor who follows a ‘buy and hold’ policy. As time
moves on, analysis believes that conditions may change and investors may revaluate expected
returns and risk for each investment.

4) Liquidity: Liquidity is also important factor to be considered while making an investment.

Liquidity refers to the ability of an investment to be converted into cash as and when required.
The investor wants his money back any time. Therefore, the investment should provide liquidity
to the investor.

5) Tax Saving: The investors should get the benefit of tax exemption from the investments.
There are certain investments which provide tax exemption to the investor. The tax saving
investments increases the return on investment. Therefore, the investors should also think of
saving income tax and invest money in order to maximize the return on investment.

18
INVESTMENT ATTRIBUTES

Every investor has certain specific objective to achieve through his long term or short term
investment. Such objectives may be monetary/financial or personal in character.

The Three financial objectives are:-

1. Safety & Security of the fund invested (Principal amount)

2. Profitability (Through interest, dividend and capital appreciation)

3. Liquidity (Convertibility into cash as and when required)

These objectives are universal in character as every investors will like to have a fair balance of
these three financial objectives. An investor will not like to take undue risk about his principal
amount even when the interest rate offered is extremely attractive. These factors are known as
investment attributes. There are personal objectives which are given due consideration by every
investor while selecting suitable avenues for investment. Personal objectives may be like
provision for old age and sickness, provision for house construction, provision for education and
marriage of children’s and finally provision for dependents including wife, parents or physically
handicapped member of the family. Investment Avenue selected should be suitable for
achieving both the financial and personal objectives. Advantages and disadvantages of various
investment avenues need to be considered in the context of such investment objectives.

1) Period of Investment- It is one major consideration while selecting avenue for investment.

a. Short Term (up to one year) – To meet such objectives, investment avenues that carry
minimum or no risk are suitable.

b. Medium Term (1 year to 3 years) – Investment avenues that offers better returns and may
carry slightly more risk can be considered, and lastly

c. Long Term (3 years and above) – As the time horizon is adequate, investor can look at
investment that offers best returns and are considered more risky.

2) Risk in Investment:- Risk is another factor which needs careful consideration while
selecting the avenue for investment. Risk is a normal feature of every investment as an investor

19
has to part with his money immediately and has to collect it back with some benefit in due
course. The risk may be more in some investment avenues and less in others.

Risk connected with the investment are, liquidity risk, inflation risk, market risk, business risk,
political risk etc. Thus, the objective of an investor should be to minimize the risk and to
maximize the return out of the investment mad

INVESTMENT ALTERNATIVES

Wide varieties of investment avenues are now available in India. An investor can himself select
the best avenue after studying the merits and demerits of different avenues. Even financial
advertisements, newspaper supplements on financial matters and investment journals offer
guidance to investors in the selection of suitable investment avenues. Investment avenues are the
outlets of funds. A bewildering range of investment alternatives are available, they fall into two
broad categories, viz., financial assets and real assets. Financial assets are paper (or electronic)
claim on some issue such as the government or a corporate body. The important financial assets
are equity shares, corporate debentures, government securities, deposit with banks, post office
schemes, mutual fund shares, insurance policies, and derivative instruments. Real assets are
represented by tangible assets like residential house, commercial property, agricultural farm, gold,
precious stones, and art object. As the economy advances, the relative importance of financial
assets tends to increase. Of course, by and large the two forms of investments are complementary
and not competitive. Investors are free to select any one or more alternative avenues depending
upon their needs. All categories of investors are equally interested in safety, liquidity and
reasonable return on the funds invested by them. In India, investment alternatives are
continuously increasing along with new developments in the financial market. Investment is now
possible in corporate securities, public provident fund, mutual fund etc.

20
INVESTMENT PROCESS

Framing of
investment policy

Investment Analysis

Valuation

Portfolio
construction

Portfolio evaluation

Investment Process:
The investment process involves a series of activities leading to the purchase of securities or
other investment alternatives.

1. Investment policy:
The investor before proceeding into investment formulates the policy for the systematic
functioning. The essential ingredients of the policy are investible funds, objective the knowledge
about the investment alternative and market.
Investible funds: The entire investment procedure revolves around the availability of investible
funds. The fund may be generated through savings or from borrowings. If the funds are
borrowed, the investor has to be extra careful in the selection of investment alternatives. The
return should be higher than the interest he pays.

21
Objectives: The objectives are framed on the premises of the required rate of return, need for
regularity of income, risk perception and the need for liquidity. The risk takers objective is to
earn high rate of return in the form of capital appreciation, whereas the primary objective of the
risk averse is the safety of the principal.
Knowledge: The knowledge about the investment alternatives and markets plays a key role in
the policy formulation. The investment alternatives range from security to real estate . The risk
and return associated with investment alternatives differ from each other. Investment in equity is
high yielding but has more risk than the fixed income securities. The tax sheltered schemes offer
tax benefits to the investors.
Security analysis:
After formulating the investment policy, the securities to be bought have to be scrutinized
through the market, industry and company analysis.
Market analysis:
The stock market mirrors the general economic scenario. The growth in gross domestic product
and inflation are reflected in the stock prices. The recession in the economy results in a bear
market. The stock prices may be fluctuating in the short run but in the long run they move in
trends i.e. either upwards or downwards. The investor can fix his entry and exit points through
technical analysis.
Industry analysis:
The industries that contribute to the output of the major segments of the economy vary in their
growth rates and their overall contribution to economic activity. Some industries grow faster than
the GDP and are expected to continue in their growth.

2. Company analysis:
The purpose of company analysis is to help the investors to make better decisions. The
company’s earnings, profitability, operating efficiency, capital structure and management have to
be screened. These factors have direct bearing on the stock prices and the return of the investors.
Appreciation of the stock value is a function of the performance of the company.
Company with high product market share is able to create wealth to the investors in the form of
capital appreciation.

22
 3. Valuation:
The valuation helps the investor to determine the return and risk expected from an investment in
the common stock. The intrinsic value of the share is measured through the book value of the
share and price earning ratio. Simple discounting models also can be adopted to value the shares.
The stock market analysts have developed many advanced models to value the shares. The real
worth of the share is compared with the market price and then the investment decisions are
made.
Future value:
Future value of the securities could be estimate by using a simple statistical technique like trend
analysis. The analysis of the historical behavior of the price enables the investor to predict the
future value.
Intrinsic value:
The actual value of a company asset based on an underlying perception of its true value
including all aspects of the business, in terms of both tangible and intangible factors. This value
may or may not be the same as the current market value .Value investors use a variety of
analytical techniques in order to estimate the intrinsic value of securities.

4. Construction of portfolio:
A portfolio is a combination of securities. The portfolio is constructed in such a manner to meet
the investor’s goals and objectives. The investor should decide how best to reach the goals with
the securities available. The investor tries to attain maximum return with minimum risk. Towards
this end he diversifies his portfolio and allocates funds among the securities.
Diversification:
The main objective of diversification is the reduction of risk in the loss of capital and income. A
diversified portfolio is comparatively less risky than holding a single portfolio. There are several
ways to diversify the portfolio.
Debt and equity diversification:
Debt instruments provide assured return with limited capital appreciation.
Common stocks provide income and capital gain but with the flavor of uncertainty. Both debt
instruments and equity are combined to complement each other.

23
Industry diversification: Industries growth and their reaction to government policies differ
from each other. Banking industry shares may provide regular returns but with limited capital
appreciation. The information technology stock yields high return and capital appreciation but
their growth potential is not predictable.
Company diversification:
Securities from different companies are purchased to reduce risk. Technical analysts suggest the
investors to buy securities based on the price movement. Fundamental analysts suggest the
selection of financially sound and investor friendly companies.
Selection: Based on the diversification level, industry and company analysis the securities have
to be selected. Funds are allocated for the selected securities. Selection of securities and the
allocation of funds and seals the construction of portfolio.

5. Evaluation:
The portfolio has to be managed efficiently. The efficient management calls for evaluation of the
portfolio. This process consists of portfolio appraisal and revision.
Appraisal:
The return and risk performance of the security vary from time to time. The variability in returns
of the securities is measured and compared. The developments in the economy, industry and
relevant companies from which the stocks are bought have to be appraised. The appraisal warns
the loss and steps can be taken to avoid such losses.
Revision:
Revision depends on the results of the appraisal. The low yielding securities with high risk are
replaced with high yielding securities with low risk factor. To keep thereturn at a particular level
necessitates the investor to revise the components of the portfolio periodically.

24
 VARIOUS OPTIONS AVAILABLE FOR INVESTMENT

One may invest in

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

 Financial assets such as fixed deposits with banks, small saving instruments with post
offices, insurance/ provident/
 Pension fund etc. or securities market related instruments like shares, bonds, debentures
etc.

Investment Option in Banks

1. Fixed Deposit account

In this category are included the deposits with the band for fixed period that is specified
at the time of making the deposit. It is repayable on the expiry of specified period.
2. Saving Bank Account
A saving Bank account is meant for the people of the lower and the middle class who
wish to save a part of their current income to meet their future needs and also intend to earn
an income from their saving. The banks, therefore, impose certain restriction on the saving
bank account and also offer a reasonable at of interest.
3. Recurring Deposit or Cumulative Deposit Accounts
It is variant of the saving bank account. It is intended to indicate the habit of saving on
the regular basis as an inducement if offered in the form of comparatively higher rate of
interest.
4. Current Account
A current account is a running and active account that may be operated upon any number
of time.

25
 Investment Option in Small Saving Schemes
Small Saving Schemes are administers through post offices. These are ideal for small
investor looking for fixed return with high safety.
1. National Saving Certificate (NSC)
National Saving Certificate (NSC) is certificate issued by department of post,
Government of India and is available at all post office country. It is a long term safe savings
option for the investor.
2. Kisan Vikas Patra (KVP)
Kisan vikas patra (KVP) Double your money in 8 years and 7 month with the advantage
of pre mature withdrawal. KVP is sold through all head post office and other Authorized post
office throughout India. The rate of return is 8.41%, compounded annually interest rate affect
the decision to buy, or sell (ancash prematurely) relating to KVP.
3. Monthly Income Scheme(MIS)
The post office monthly income scheme (MIS) provides for monthly payment of interest
income to investors. The post office MIS gives a return of 8 percent plus a bonus of 10
percent on maturity.

4. Recurring Deposit (RDA)

A post office Recurring Deposit Account (RDA) is akin to a recurring deposit in a bank,
where you invest a fixed amount on a monthly basis. The deposit has a fixed tenure, and the
Scheme is a powerful tool for regular saving.

5. Public Provident Fund (PPF)

The public provident fund scheme is a statutory scheme of the central government of
India. The scheme is for 15 years. The rate of interest is 8 % compounded annually. The
minimum deposit is Rs-500/- and maximum is Rs-70,000/- in financial years. The amount of
deposit can be varied to suit the convenience of the account holders. The account in which
deposit are not made for any reason in treated as discontinued account and such account
cannot be closed before maturity.

26
 Investment Option in Securities Market

1. Equity Shares
Secondary market refers to the stock exchanges where investors can buy/sell shares that
are listed on them. Equity shares have dominated India’s stock market. As a result of
significant change in the past, particularly computerization, online trading, dematerialization
and depository participation, investors are now dealing with a much more transparent and
efficient secondary markets. Equity shares yield returns in two ways: one, Dividends
declared by the companies usually at the end of the year and two the capital gains on sale of
equity shares. Liquidity of investment in equity shares depends upon the trading volumes of
the share.
An investor needs to be aware of the companies and their performance. Companies’
performance should be monitored closely in order to track the investment performance.
2. Debt. Instrument
Debt instrument represent contracts where one party in the investor another party is the
issuer. Debt instrument are a way for markets and participant to easily transfer the ownership
of debt obligation from one party to another. Debt obligation transferability increases
liquidity and gives creditors a means to debt obligation from one party to another. When a
debt instrument is used as a medium to facilitate debt trading debt obligation can be moved
from one party to another quickly and efficiently. The debt contract specifies the rate of
interest, time of interest payment.
3. Maturity Fund

Mutual fund is an investment company that pools money from shareholders and invests in a
variety of securities, such as stocks, bonds and money market instruments. In Short, mutual
funds is a common pool of money in to which investor with common investment objective
place their contributions that are to be invested in accordance with the started investment
objective of the scheme the investment manager would invest the money collected from the
investor in to assets that are defined/ permitted by the stated objective of the scheme. Mutual
fund is a suitable investment for the common man as it offers an opportunity to invest in a
diversified, professionally managed basket of securities at a relatively low cost.
27
TAX SAVING INVESTMENTS

There are certain schemes introduced for the purpose of tax saving. These schemes provide
income tax benefits to the investors who invest in these schemes. Under Section 80C of the
Income Tax Act, 1961, the following schemes are eligible for tax saving. The Finance Act, 2010
provides tax exemption up to Rs.1,00,000 for the investments in the following schemes:

1. Life Insurance Premium: Life insurance premium paid by a person on his life or on the life
of spouse or on life of any child of that person is entitled for deduction under this section.
Maximum premium of 20% of the policy amount can be allowed for deduction.

2. Public Provident Fund: Investment made by an individual towards the 15 year Public
Provident Fund set up by the government under the Public Provident Fund Scheme, 1968 is
qualified for deduction up to a maximum of Rs . 70,000 in a year.

3. Post Office Savings Deposits: Any sum deposited in a 10 year or 15 year account under the
Post Office Savings Bank Rules 1959 by an individual is entitled for deduction up to a limit of
Rs.1,00,000.

4. National Savings Certificate (NSC): Amount invested by an individual in National Savings

Certificate issued by post office is entitled for deduction.

5. Unit Linked Insurance Plan (ULIP): Investments made by an individual for participating in
the Unit Linked Insurance Plan of Unit Trust of India are entitled for deduction up to an amount
of Rs.1,00,000 in a year.

6. Deposits in National Housing Bank: Any sum invested in home loan account scheme of the
National Housing Bank is entitled for deduction up to an overall limit of Rs.60,000 in a year.

7. Repayment of Housing Loan: Payment not exceeding Rs.1,00,000 in respect of loan

instalment or repayment of housing loan taken for the purpose of a residential house is entitled
for deduction. Deduction under section 24(b) : Under this section, Interest on borrowed capital
for the purpose of house purchase or construction is deductible from taxable income up to Rs.
1,50,000 with some conditions to be fulfilled.

28
8. Fixed Deposit: FD in a bank for more than 5 years maturity period is allowed as deduction up
to Rs.1,00,000.

9. Mutual Fund: Investment up to Rs.1,00,000 in units of a mutual fund referred to in Section

10(23D); popularly known as Equity Linked Savings Scheme (ELSS) and approved by the board
are eligible for deduction under this act.

10. LIC's Pension Plan: The premium paid for LIC's New Jeevan Suraksha policy qualifies for
deduction up to a limit of Rs.1,00,000 in a year.

29
 3.
COMPANY
PROFILE

30
 STALLION CAPITAL MANAGEMENT

Stallion Capital is a wealth advisory firm, which work with successful people at different
stages of their lives and provide them with the expert strategic financial advice they require to
achieve, or maintain financial independence. Our clients want to take control of their financial
future and we help them achieve this goal. By leveraging our expertise to create and implement a
strategic financial roadmap we can assist them to protect, grow and manage their wealth.

Stallion was established in 2013, on the principles of delivering high returns to its clients through
the network of government sector banks like PNB, Etc. Though client base is spread across,
BFSI Sector & Telecom. Since the company have a large client base in Banking Sector
consisting more of Public Sector Banks. Few of the prominent Banks are Punjab National Bank,
Bank of Karnataka, Bank of Baroda, Andhra Bank, etc. Stallion capital Management is able to
facilitate various training and development programs / internships in India and abroad with top
B-school and has trained almost 52000 and above interns till date. Company is having asset
under management of 80cr. The operations of the company are spread beyond the national
boundaries of India.

31
 Mission Statement

“To put all the financial transactions of client at one place for easy access and planning”

Vision Statement

“To be most admired wealth management firm with best components”

Organizational Values

Products and services offered by the Company

 Wealth Management:
The term Wealth Management refers to a professional investment and advisory service
that offers financial planning, investment management and other types of specialized
financial advice.

 Proprietary Financial Planning:

We offer property advisory services for all residential and commercial properties,
rendered by our expert team members having thorough market knowledge in residential,
industrial leading Prices.
We work on the following area:

32
 1. Negotiate on Property valuation / deal on behalf of clients and get better value of
money.
2. To make appropriate proposal favouring our clients.
3. Projects offering assured return on investment.
4. Cash flow analysis & financial Modelling.
5. Legal documentation of properties in a methodical manner.

 Portfolio Management:
A portfolio Management refers to the science of analyzing the strengths, weaknesses,
opportunities and threats for performing wide range of activities related to the one's
portfolio for maximizing the return at a given risk.

 Tax and retirement planning:

Tax planning is simply optimizing both the timing and strategy of your business tax
matters, to ensure that you pay as little tax possible. Those strategies should be geared to
optimize and improve business growth.
The goal of retirement planning is to achieve financial independence. So, we are here to
help you with the best advice regarding retirement savings.

 Mutual funds advisory:

Mutual Funds are measured on relative performance. Their performance is compared to a
relevant index such as the S&P 500 Index or to other Mutual Funds in their same sector.

 Business loan assistance:

We deploy technology and apply innovation to create unique and compelling
propositions that help you do what you always with the Business Loans from Bank,
Financial Institutions & FDIs. We help in making and designing appropriate project
reports and presentations. Most of these features are industry firsts and come only with
our portfolio offerings.

33
Clients

Client base of the company varies from Entrepreneur to service professionals, old to young and
seasoned to first time investor. Client list is such that it would entice anybody to opt for their
Services Company has decided to build a focused approach to selected specific client only. Its
aim is to serve serious client with the vision of long term relation.

Clients profile:

34
Key Competitors

35
 SWOT ANALYSIS OF STALLION CAPITAL MANAGEMENT

Strengths
 Successful diversification in other fields such as training programs through various parts
of world
 Professional consultant with experience of more than 20 years
 Good corporate tie-ups, like with HDFC Life, ICICI, etc.
 Solution to all financial problems under one roof
 Multi-lingual staff

Weaknesses
 Low key I.T. infrastructures as compared to big brands
 Low marketing and brand presence
 Lack of track record
 Fewer formal training programs

Opportunity
 Growing rural markets
 Earning urban youth looking for investments
 Could use their customer relationships for increasing database
 Cross selling through financial services such as banking

Threats
 Competition from large companies
 Increasing no. of advisory firms

36
 4.

NEED, SCOPE

AND

OBJECTIVES OF THE
STUDY

37
Primary Objective

1) To understand in depth about Stallion Capital Management.

2) To study Investment behavior of Individual Investor in Stallion Capital Management

Secondary objective

1) To find out how investors get information about the various financial instruments.

2) The type of financial instruments, they would prefer to invest.

3) The duration for which they would prefer to keep their money invested.

4) What are the factors that they consider before investing?

5) To give some recommendations to the investors that where they should invest.

6) To know the risk tolerance level of the individual investor and suggest a suitable portfolio.

7) To develop a profile of sample Indian individual investor in terms of their demographics. And
demographics based on occupation of the sample investor.

8) To identify the objective of savings of an investor.

9) To study the dependence/independences of the demographic factors (Age) of the investor and
his/her risk tolerance level

NEED OF THE STUDY

The need of the study was to fill the gap that was identified in the previous researches. The
researchers conducted earlier lay emphasis on the working of investment behavior in stallion
capital management. Considering the ample importance of this aspect, the present study was
conducted to study the behavior of investors and determine their awareness level regarding
various investment avenues available in Stallion Capital Management.
This analysis on Individual Investors’ Behavior is an attempt to know the profile of the investor
and also know the characteristics of the investors so as to know their preference with respect to

38
their investments. The study also tries to unravel the influence of demographic factors like age
on risk tolerance level of the investor.

SCOPE OF THE STUDY

The project will give an idea about the investment behavior of the investors in Stallion Capital
Management. It will guide them in creating strategies for sales force to target their potential
customers .Questionnaire developed for the survey will help the stallion managers to identify its
potential customers for a particular product. The study will also guide them to identify the need
of the future generation and their investment styles which will help in the development of the
product or service for this generation.

The scope of the study was limited to Delhi.

39
 5.
RESEARCH
METHODOLOGY

40
 RESEARCH METHODOLOGY

Research Methodology is a way to systematically solve the research problem. The Research
Methodology includes the various methods and techniques for conducting a research. Research is
an art of scientific investigation. In other word research is a scientific and systematic search for
pertinent information on a specific topic. The logic behind taking research methodology into
consideration is that one can have knowledge about the method and procedure adopted for
achievement of objective of the project.

Sampling technique
Initially, a rough draft was prepared keeping in mind the objective of the research. A pilot
study was undertaken in order to know the accuracy of the questionnaire. The final questionnaire
was arrived at only after certain important changes are incorporated. Convenience sampling
technique used for collecting the data from different investors. The investors are selected by the
convenience sampling method. The selection of units from the population based on their easy
availability and accessibility to the researcher is known as convenience sampling. Convenience
sampling is at its best in surveys dealing with an exploratory purpose for generating ideas and
hypothesis.

Sampling unit:
The respondents who are asked to fill out the questionnaires are the sampling units. These
comprise of employees of MNC’s, government employees, housewives, self- employed,
professionals and other investors.

Sampling size:
The sample size is restricted to only 70, which comprised of mainly people from different
regions of Delhi due to time constraints.

Sampling area:
The area of the research is Delhi.

41
 SOURCES OF INFORMATION

Primary Data:
Information is collected by conducting a survey by distributing a questionnaire to 70
investors in Delhi. These 70 investors are of different age group, different occupation, different
income levels, and different qualifications.

Secondary Data:
This data is collected by using the following means.
1. Articles in Financial Newspapers (‘Economic times’ and ‘Business Standard’).
2. Investment Magazines, Business Magazines, Financial chronicles.
3. Expert’s opinion published in various print media.
4. Books written by various Foreign and Indian authors on Investments.
5. Data available on internet through various websites

Tools of Presentation & Analysis:

To analyze the data obtained with the help of questionnaire, following tools were used.

1. Likert scale: These consist of a number of statements which express either a favorable or
unfavorable attitude towards the given object to which the respondents are asked to react.
The respondent responds to in terms of several degrees of satisfaction or dissatisfaction.

2. Percentage and Pie Charts: These tools were used for analysis of data

42
LIMITATIONS OF STUDY

 Due to lack of time and resources a countrywide survey was not possible. Hence only
Delhi city has been taken for the study.
 Since a smaller sample was chosen so it may not be a true representative of the
population under study.
  Most of the study was restricted to Internet and published data because of the
non-availability of primary data.
 The information given by the respondents might be biased because some of them might
not be interested to given correct information.
 Some of the respondents of the survey were unwilling to share information.

43
 6.

ANALYSIS,
INTERPRETATION &
FINDING

44
 1. Occupation

Frequency Percent Valid Percent Cumulative

Percent

Government employee 26 37.1 37.1 37.1

Private employee 16 22.9 22.9 60.0

Businessmen 19 27.1 27.1 87.1

Retired 9 12.9 12.9 100.0

Total 70 100.0 100.0

ANALYSIS:
For my analysis purpose I have 80% respondent out of which 70 respondents are
interested in investment in shares. Out of those 70, most interested investors are government
employees i.e. 37.1% and least interested in Shares are retired people i.e. 12.9% and rest 10
respondent are interested to invest in other securities because they think thet they earn more
profit then Equity shares.

45
 2. Age Group

Frequency Percent Valid Cumulative

Percent Percent

20 – 40 31 44.3 44.3 44.3

40 – 60 22 31.4 31.4 75.7

Above 60 17 24.3 24.3 100.0

Total 70 100.0 100.0

ANALYSIS:
From the above graph, it is observed that 44.3% of the respondents are in the age group
of 20 – 40 years, 31.4% of the respondents are in the age group 40 – 60 years and 24.3%
of the respondents are above 60 years. Majority of the respondents are between 40 – 60
years.

46
 3. Education
Frequency Percent Valid Cumulative
Percent Percent

Illiterate(uneducated) 7 10.0 10.0 10.0

Metric/senior secondary 12 17.1 17.1 27.1

Graduation 31 44.2 44.2 71.3

Post Graduation 17 24.2 24.2 95.5

Doctorate 3 4.5 4.5 100.0

Total 70 100.0 100.0

ANALYSIS;
From the above graph, it is observed that 44.2% of the respondents are Graduate, 24.2%
of the respondents are Post graduate, 10% of the respondents are illiterates and 3% of the
respondents are Doctorate. Majority of the respondents are Graduate.

47
 4. Annual household income
Frequency Percent Valid Cumulative
Percent Percent

Less than 1.5 lakh 13 18.6 18.6 18.6

1.5 to 3 lakh 20 28.6 28.6 47.1

3 to 5 lakh 23 32.9 32.9 80.0

Above 5 lakh 14 20.0 20.0 100.0

Total 70 100.0 100.0

ANALYSIS:
From the above graph, it is observed that 18.6% respondents fall under income group of
less than 1.5 lakh 28.6% of our total respondents fall under 1.5-3 lakh income group,
32.9% (maximum) respondents fall under income group of between 3 to 5 lakh and 20%
respondents fall under income group above 5 lakh.

48
 5. You are interested in investment

Frequency Percent Valid Cumulative

Percent Percent

Yes 69 98.6 98.6 98.6

No 1 1.4 1.4 100.0

Total 70 100.0 100.0

ANALYSIS:
This graph shows that, it is observed that 98.6% of the respondents invested in shares and
1.4 of total respondents didn’t invest in any share.

49
 6. Where do you make investment?
Frequency Percent Valid Cumulative
Percent Percent

Fixed deposit 5 7.1 7.1 7.1

Property 2 2.8 2.8 9.9

Shares 51 72.9 72.9 82.8

Insurance 4 5.7 5.7 88.5

Mutual Funds 8 11.5 11.5 100.0

Total 70 100.0 100.0

ANALYSIS:
In this graph, out of 70 respondents, it is observed that 72.9% respondents prefer to invest
into shares, 7.1% respondents prefer to invest into fixed deposit, 11.5%respondents prefer
to invest in mutual funds and 8.5% respondents prefer to invest into property & insurance

50
 7. Which in more profitable?

Frequency Percent Valid Cumulative

Percent Percent

Fixed deposit 7 10.0 10.0 10.0

Mutual funds 11 15.7 15.7 25.7

Shares 48 68.6 68.6 94.3

Commodity 4 5.7 5.7 100.0

Total 70 100.0 100.0

ANALYSIS:
From the above table, out of 70 respondents, it is observed that 68.6% of respondents are
saying Shares, 15.7% of respondents are saying Mutual funds, 7% of respondents are
saying fixed deposit & other 4% are saying commodity in more profitable.

51
 8. What is your objective/motive behind investment?
Frequency Percent Valid Cumulative
Percent Percent

Long term profit 21 30.0 30.0 30.0

Regular profit 14 20.0 20.0 50.0

Secure future 22 31.4 31.4 81.4

Tax benefits 13 18.6 18.6 100.0

Total 70 100.0 100.0

ANALYSIS:
In the above graph, it is observed that 30% of the respondents are investing for the
purpose of long term profits, 20% invest for the purpose of generating regular income,
31.4% of maximum respondents are those who invest to secure their future & 18.6% of
the respondents who are least in number invest for tax benefit.

52
 9. How do you prioritize the reason for investment?

Saving for future 2.557143

Tax saving 3.142857

Return 2.942857

Future outlook 3.742857

Brand value 4.428571

Risk factor 4.185714

ANALYSIS:
In above figure shows that, out of 70 respondents, after finding the mean saving for
future has got 2.557143 mean and tax incentives has got 3.142857mean, return has got
2.942857 mean, future outlook has got 3.742857 mean, brand value has got 4.428571
mean (maximum) & risk factor has got 4.185714 mean.

53
 10. Is investment in equity shares safe?

Frequency Percent Valid Cumulative

Percent Percent

Yes 67 95.7 95.7 95.7

No 3 4.3 4.3 100.0

Total 70 100.0 100.0

ANALYSIS:
In this graph, it is observed that out of 70 respondents who are interested in investment
into shares, 95.7% respondents are saying that equity shares units are safe and 4.3%
respondents are saying equity shares are not safe.

54
 11. What is your expected return?

Frequency Percent Valid Cumulative

Percent Percent

Less than 10% 13 18.6 18.6 18.6

10% to 30% 38 54.3 54.3 72.9

Above 30% 19 27.1 27.1 100.0

Total 70 100.0 100.0

ANALYSIS:
In this graph, 18.6% of respondents get less than 10% return, 27.1% of the respondents
expect return above 30% and 54.3% respondents get return between 10-30%. So majority
of respondents get 10-30% return.

55
 12. How much risk you can take?

Frequency Percent Valid Cumulative

Percent Percent

Minimum risk 29 41.4 41.4 41.4

Moderate risk 30 42.9 42.9 84.3

High risk 11 15.7 15.7 100.0

Total 70 100.0 100.0

ANALYSIS:
From the above graph, out of 70 respondents, it is observed that 41.4% respondents can
bear minimum risk, 42.9% majority of respondents can bear moderate risk and 15.7%
respondents can bear high risk.

56
 13. Which information do you rely on?

Frequency Percent Valid Cumulative

Percent Percent

Prospectus/self analysis 22 31.4 31.4 31.4

Newspaper 12 17.1 17.1 48.6

Investment advisor 15 21.4 21.4 70.0

TV 11 15.7 15.7 85.7

Friends 10 14.3 14.3 100.0

Total 70 100.0 100.0

Information

Prospectus/self Analysis
Newspaper
Investment advisor
TV
Friends

ANALYSIS:
In the graph, out of 70 respondents, it is observed that 31.4% majority of respondents collect
information through prospectus/self-analysis, 17.1% respondents collect information through
newspaper, 21.4% respondents take information through investment advisor, 15.7% respondents
take information through TV and 14.3% least of respondents collect information through
Friends.

57
 14. What is the most important criterion for you for selecting a particular equity
shares?
Frequency Percent Valid Cumulative
Percent Percent

Past performance 28 40.0 40.0 40.0

Service 20 28.6 28.6 68.6

Promoters Background 11 15.7 15.7 84.3

Any other 11 15.7 15.7 100.0

Total 70 100.0 100.0

Most Important Criterion

Past Performance
Service
Promoters Backgraound
Any other

ANALYSIS:
In the above graph, 40% of the respondents purchase or invest in Shares for past
performance and 15.7% respondents purchase or invest in shares for promoter’s
background and any other and 28.6% purchase or invest in shares for sevice.

58
 15. What is your level of satisfaction from your equity shares?

Frequency Percent Valid Cumulative

Percent Percent

Satisfied 38 54.3 54.3 54.3

Dissatisfied 3 4.3 4.3 58.6

Neither Satisfied nor 29 41.4 41.4 100.0

Dissatisfied

Total 70 100.0 100.0

ANALYSIS:
From above graph, it is observed that 54.3% majority of respondents are satisfied to
purchase a mutual fund and 4.3% of the respondents are not satisfied to purchase a share.

59
 16. What deficiencies do you find in your equity shares?

Frequency Percent Valid Cumulative

Percent Percent

Track record 16 22.9 22.9 22.9

Transparency 19 27.1 27.1 50.0

Service Quality 18 25.7 25.7 75.7

Any other 17 24.3 24.3 100.0

Total 70 100.0 100.0

ANALYSIS:
From the graph out of 70 respondents, 27.1% respondents are saying transparency is the major
deficiency in shares and 22.9% respondents are saying track record of other deficiencies in
equity share, 24.3% respondents are saying that any other reason are deficiencies in shares &
25.7 of the respondents saying service quality is the deficiencies of shares.

60
 17. Is the commission charged by the trading site reasonable?

Frequency Percent Valid Cumulative

Percent Percent

Yes 44 62.9 62.9 62.9

No 26 37.1 37.1 100.0

Total 70 100.0 100.0

ANALYSIS:
From this graph, it is observed that 62.9% of respondents are saying commission charged
by the trading site and 37.1% of the respondents are saying there is no commission
charged by trading site.

61
 FINDINGS

 Retired respondents are least interested into invest in Equity shares because they want
regular income.
 Majority of 20 – 40 years respondents are interested into invest in equity shares because
they want capital appreciation.
 12.5% of the respondents don’t invest into equity shares because they earn more profit
through FD, mutual funds, property & insurance.
 Majority of respondents invest into shares for secure future and tax saving
 People rely more on information supplied by investment adviser & than by self analysis.
 37.1% respondents are satisfied by trading site because there is no extra charge by this
site.
 54.3% people are satisfied with equity shares, 41.4% people are neither satisfied nor
dissatisfied.
 The main problem that the people find with shares in lack of Knowledge.
 28.6% people think that FD is more profitable than Shares.
 According to Survey 97.1% people think that the future of shares is bright.
 In India most of the people having lack of awareness about shares.
 12.5% people were not considering investing in shares because they have had bad
experience or they simply don’t have money to invest.

62
 7.

CONCLUSION AND
RECOMMENDATIONS

63
 CONCLUSION

Indian Stock Markets is one of the oldest in Asia. Its history dates back to nearly 200 years
ago. The earliest records of security dealings in India are major 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.

The nature of investment differs from individual to individual and is unique to each one because
it depends on various parameters like future financial goals, the present & the future income
model, capacity to bear the risk, the present requirements and lot more. As an investor progresses
on his/her life stage and as his/her financial goals change, so does the unique investor profile.
Maximum investors are aware of all the investment options. Investors do not invest in a single
avenue. They prefer different avenues and maximum investors prefer to invest in shares &
mutual funds. The most important factor is Return which influenced the decision regarding
investment.

Through the research I found that shares are one of the important financial instruments for
investment. People have shifted from traditional sources of investment to new financial
instruments like Mutual funds, Equity shares and Commodities etc.

The main reason of investment in Shares is return, diversification & risk management but people
are not well aware of these benefits. So if these people are provided required awareness and
knowledge about share can act as a most preferred investment option.

64
 RECOMMENDATIONS

Following are the recommendations of the study:

• The various investment tools which were mostly preferred by the investors were shares,
mutual funds etc. So there should be various other means to create awareness regarding the
potential of other instruments and the tools which can be more beneficial to the investors.

• The investors consider various factors while making investment like risk, return, liquidity etc.
There should be rational thinking so that the investor is able to know that at what point of time
they need capital appreciation instead of reducing the risk and when they need return instead of
liquidity.

• The preferred time span of investment by the investors depends upon the need of the investor
that whether they wants to have early and high returns or wants to have stable returns, most
probably the long time span is suitable because the returns are high and safety is also there.

• The satisfaction levels of various investors are different due to different investment alternatives
they opt for. If they will be aware of each type of alternatives and the worth of the alternatives
then investing as per that there satisfaction level will also be high.

• Investors should have the complete knowledge of stock market.

65
 8.

BIBLIOGRAPHY

AND
ANNEXURE

66
 BIBLIOGRAPHY

Books & Research Papers:

 Avadhani. V.A. “Investment Management”, 3rd Edition, Mumbai: Himalaya Publish

House, 1999.
 Bhalla, B.K. “Security, Analysis and portfolio Management”, 1st Edition New Delhi:
S.chand & CO.Ltd., 2002.
 Desai Vasant, ”Indian Financial System” Himalaya Publishing House, New Delhi. Fisher
Donald E. and Jordan Ronald j., “Security Analysis and Portfolio Management” Prentice
Hall of india, Pvt. Ltd. Sixth Edition, New Delhi.
 Desigan Gnana, Kalaselvi S and Anuya L (2006), “Women Consumers Perception
Towards Investment: An empirical Study, “Indian Journal of Marketing, April.
 International Journal of Multidisciplinary Research, Vol. 1 Issue8,
Journal of Law and Economics, Vol. 23
 Gorden E. and Natrajan K. (2010), “Financial Markets and services”, Vikas publishing
House pvt. Ltd., New Delhi.
 Pandian, Punivathy (2013) “financial service and management”, vikas publishing house
pvt ltd, New Delhi.
 Business Standard
 Fact sheet and statements of various funds houses

Web Sites:

www.thefinapolis.com
www.stallioncap.com
www.mutualfundsindia.com
 www.moneycontrol.com
 www.yahoofinance.com
www.threeconomictimes.com
 www.rediffmoney.com
 www.bseindia.com

6
 www.nseindia.com
www.investopedia.com
 www.amfiindia.com
www.altavista.com
 www.sebi.gov

68
 ANNEXURE

Name:-

Address:-

Mobile no.:-

E-mail address:-

1. Occupation:-
 Government Employee
 Private Employee
 Businessman
 Retired

2. Age Group
20 - 40
40 – 60
 Above 60

3. Education
 Illiterate (uneducated)
 Metric/Senior Secondary
 Graduation
 Post-graduation
 Doctorate

4. Annual Household Income

 Less than 1.5 lakh

69
  1.5 to 3 lakh
 3 to 5 lakh
 Above 5 lakh

5. You are interested in investment

 Yes
 No

6. Where do you make investment?

 Fixed deposit
 Property
 Share
 Insurance
 Mutual funds

7. Which is more profitable?

 Fixed Deposit
Mutual fund
Equity Share
Commodity

8. What are your objective/ motive behind investment?

 Long term profit
 Regular profit
 Secure future
 Tax benefits

70
9. How do you prioritize the reason for investment?
[Rank from 1 to 5, 1 being highest priority]
 Saving for future
 Tax saving
 Return
 Future outlook
 Brand value
 Risk factor

10. Is investment in equity share safe?

 Yes
 No

11. What is your expected return?

 Less than 10%
10% to 30%
Above 30%

12. How much risk you can take?

 Minimum risk
 Moderate risk
 High risk

13. Which information do you rely on?

 Prospectus/self analysis
 Newspaper
 Investment advisor
 TV
 Friends

72
14. What is the most important criterion for you for selecting a particular Equity
Share?
 Past Performance
 Service
 Promoters Background
 Any Other

15. What is your level of satisfaction from your Equity share?

 Satisfied
 Dissatisfied
 Neither Satisfied nor Dissatisfied

16. What deficiencies do you find in your Equity Share?

 Track record
 Transparency
 Service Quality
 Any other

17. Is the commission charged by the trading site reasonable?

 Yes
 No

72
73