Professional Documents
Culture Documents
The Angel Group has emerged as one of the top 5 retail stock broking
houses in India, having memberships on BSE, NSE and the two leading
commodity exchanges in the country i.e. NCDEX and MCX. Angel Broking Ltd is
also registered as a depository participant with CDSL. Angel has exceeded
customer’s expectations by providing world-class service. I was placed under the
marketing and sales department and I have learned a lot in carrying out
marketing task for Angel Broking. I have done marketing in retail client segment.
I have also carried out a project during summer training. The title of my
project is
“Present and the Future Scenario of e-Broking in Jamnagar city area”
The questionnaire was used as data collection instrument and both open ended
and close ended type of questions were used as per the requirement. From the
survey it was found that currently the concept of e-Broking is not so prevalent in
the market, but its future can be made bright by properly conveying its benefits.
More details about the project are available in later part of this report.
1
INTRODUCTION TO ANGEL
In a shot span of 18 years since inception, the Angel Group has emerged as one
of the top five retail stock broking houses in India, having membership of BSE,
NSE and the two leading Commodity Exchanges in the country i.e. NCDEX &
MCX. Angel Broking is also registered as a Depository Participant with CDSL.
The group is promoted by Mr. Dinesh Thakkar, who started this business as a
sub-broker in 1987 with a team of 3. Today the angel group is managed by a
team of 1937 direct employees and has a nation wide network comprising of 12
Regional hubs, 64 branches and 2759 sub brokers & business associates. Angel
is 100% focused on retail stock broking business unlike any other larger national
broking house. The group currently services more than 226030 retail clients.
Angel habitually generates value added features without the cost burden being
passed on to the clients as they strongly believe that better understanding of
client’s needs and wants is their top priority. Their e-broking facility is one such
effort, which gives the client a platform to access state of the art trading facility at
the click of a button.
Angel has always strived for delivering customer delight and developing strong
long term bonds with its clients as well as channel partners. Angel thrives on a
vision to introduce new and innovative products and services constantly.
Moreover, Angel has been among the pioneers to introduce the latest
technological innovations and integrate them efficiently within its business.
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The mainline Business Activities of Angel are :
Stock Broking
Derivatives Trading
Online Trading
Commodities Trading
3
COMPANY’S PROFILE
4
ORGANIZATIONAL STRUCTURE
MANAGEMENT TEAM
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Chief Investment Officer : Mr. Rajen Shah
Senior Research Analyst : Mr. Phani Sekhar
Table 1
REGIONAL OFFICES
Ahmedabad
Bangalore
Chennai
Hyderabad
Indore
Jaipur
Kolkata
Mumbai
New Delhi
Pune
Rajkot
Surat
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The Unique Features of Angel :
Instant Online Fund Transfer with Multiple Banks
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Efficient uptime and greater stability for high speed
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ANGEL’S LOGO
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ANGEL’S VISION
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ANGEL’S BUSINESS PHILOSOPHY
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INVESTMENT PHILOSOPHY
1. Wealth Creation :
The creation of Wealth can be categorized as :
Having money work for client
Having others work for client
Client Working for Money
2. Wealth Preservation :
As wealth grows, focus is shifted to striking a balance between asset creation
and preservation. Wealth preservation applies to day-to-day financial life which
includes managing cash flow and overall risk management.
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OBJECTIVE OF ANGEL INVESTMENT PHILOSOPHY
Angel’s objective at all time is to protect and then grow client’s portfolio.
The primary aim is to avoid the thoughts of the declining market and not
necessarily out-perform the rapidly rising market but to consolidate both the
periods, which would result in out-performing the market along with wealth
creation.
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PRODUCTS AND SERVICES DETAIL
REPORTS :
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FUNDAMENTAL RESEARCH SERVICES :
Stock Analysis :
Angel’s stock research has performed very well over the past few
years and the Angel Model Portfolio has consistently outperformed the
benchmark indices. The fundamentals of select scrips are thoroughly
analyzed and an actionable advice is provided along with investment
rationale for each scrip.
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Flash News :
Key developments and significant news announcements that are
likely to have an impact on markets / scrips are flashed live on trading
terminals. Flash news keeps the market participants updated on an online
basis and helps them to reshuffle on their holdings
Nifty Tracker :
Nifty Futures is the most traded instrument with highest volumes in
F & O and excellent liquidity. The team tracks the Nifty Future and
generates calls based on unique trading system which is a result of their
focused research over the past few years. The objective is to generate
positive returns for traders who are looking for a high risk / high reward
product.
Online Chart :
An online forum to help clients, specifically day traders in judging
the directions of the market and stocks which are in the limelight.
Intraday Calls :
For day traders, Angel provides intra-day calls with entry, exit and
stop loss levels during market hours. These calls are flashed on their
terminals. Their analysts continuously track the calls and provide
recommendations according to the market movements.
Position Calls :
Angel’s “Position Trading Calls” are based on thorough analysis of
the price movement in select scrips. These calls are for a 10-15 day time
span with stop loss and target levels. These calls are flashed on their
terminals during market hours.
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Derivative Strategies :
Their analysts take view on the Nifty and select stocks based on
the derivatives data and technical tools. Suitable “Derivative Strategies”
are devised, which are flashed on their terminals and published in their
reports.
Futures Calls :
A customized product for HNIs to help them trade with leveraged
position; wherein clients are advised on the stocks with entry, exit and stop
loss level for short term benefits. Over and above this, financial status of
the calls is monitored at all times.
To help client understand their risk profile and define investment goals
realistically
To help client decide what to buy / sell and when to buy / sell
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PORTFOLIO MANAGEMENT SERVICES :
Angel came out with its first Model Portfolio in August 2002
Since then it has come out with Model Portfolios which have
consistently outperformed the Sensex YOY
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Salient features of PMS schemes :
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PMS Schemes @ Angel
Description:
Investment Strategy:
Logic works well and thus will be given weight age along with
financials
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Parameters Driving Investment Decision:
Sectoral Composition:
Investor Profile:
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Scheme 2: Angel BLUE- CHIP
Description:
Investment Strategy:
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Parameters Driving Investment Decision:
Overweight on large cap stock. However quality mid cap stocks may
also be considered for investment.
The portfolio strives to limit the exposure to any sector to less than
25% of the portfolio size
The portfolio strives to limit the exposure to any stock to less than
10% of the portfolio size
Investor Profile:
The scheme would be suited for investors with low to moderate risk
appetite
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Benefits of Angel PMS :
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Portfolio Management Services from Angel are essential for investor
who needed
Long term wealth generation
Personalized service
In essence, all investor who have faith and belief in the Indian growth story
and robust corporate performance would find Angel PMS most suitable to
meet their objectives.
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ANGEL GOLD:
We strongly believe that right decisions taken at the right time are always
beneficial and that's why our entire research team comprising of 12 sector
specialists along with our research head will understand your need, return
expectation, risk profile and time horizon to design your portfolio accordingly. This
portfolio will be tracked regularly and our efforts would be to optimize your
returns in the long run.
A premium service for clients who need professional guidance on long term
investments.
Minimum fund / portfolio of Rs. 1 lac and maximum of Rs. 4 lac eligible for
Angel Gold.
Appropriate risk profiling before taking investment decisions
Periodic group meetings and seminars in branches.
Monthly Newsletter from the desk of “Angel Gold” .
Browser based back-office software.
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COMMODITIES SERVICES
Mainly gives the investors insight into and a forecast for agro
commodities viz. pulses (urad channa etc); reports on oil complex
(soyabean castor etc.) along with spices with reports on kapas guar seed
Call Evaluation:
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Angel Commodity Advantages :
Top Quality Research :
o Professionally qualified analysts with rich industry experience
o Research on 25 agro commodities, precious metals, base metals,
energy products and polymers
e-Broking :
o Single screen customized market watch for MCX / NCDEX with
BSE / NSE
o Streaming quotes and intra day calls
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MUTUAL FUND DISTRIBUTION AND ADVISORY :
Rating and Rankings of all Mutual Funds from in-house expert analysts.
News and alerts for client’s Mutual Fund Portfolio and performance
tracking with watch lists.
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IPO DISTRIBUTION AND ADVISORY :
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ONLINE TRADING :
Specially designed for the net savvy traders and investors who prefer
operating from their home or office through the internet. The investor can
access state of the art Technology with three different e-broking products and
voila trading on BSE, NSE, F & O, MCX and NCDEX.
ONLINE PRODUCTS
ANGEL DIET:
Application based product for Traders.
ANGEL ANYWHERE:
Application based product for Traders with Charts.
ANGELTRADE:
Browser based product for Active Investors.
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Angel Diet :
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Angel Trade :
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Angel Anywhere :
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DEPOSITORY PARTICIPANT SERVICES :
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ACHIEVEMENTS OF ANGEL
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SWOT ANALYSIS
STRENGTHS:
Understanding the needs of a channel partner and retail investor very well.
Deriving inspiration from their vision of providing the best value for money
to their clients.
Strict adherence to compliance norms.
Timely research based advice to their clients.
50 member research / advisory team comprising of experienced
fundamental and technical analysis, sector specialties, derivative strategist
and commodity analysts
Strong Communication Network.
Good Image and strong back ground.
WEAKNESSES:
High Employee Turnover.
No lifetime facility for Demat A/c
No funding facility
OPPORTUNITIES:
To get into the segment of such investors who are less risky.
Marketing at rural and semi-urban areas.
THREATS:
Increasing number of local players.
Past image of Stock market
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INDUSTRY DETAIL
The history of Indian capital market back to the 18 th century when east India
company securities were traded in the country. Until the end of the 19th century,
Securities trading were unorganized and the main trading centers were Bombay
and Calcutta. Of the to Bombay was the chief trading centre were in bank shares
were the major trading stock
Trading was at that time limited to a dozen brokers their trading place was under
a banyan tree in front of the Town hall Bombay. These stock brokers organized
an informal association in 1875- native shares and stock broker’s association
Bombay. The stock exchanges in Calcutta and ahemedabad also have trading
centre came up later. The Bombay stock exchange was recognized in may 1927
under the Bombay securities contract control act 1925.
The capita market was not well organized and develops during the British rule
because the British government was not interested in the economic growth of the
country. As a result many foreign companies depended on the London capital
market for funds rather then on the Indian Capital Market.
In the post independence period also the size of the capital market remained
small. During the first and the second five year plan the government emphasis
was on the development of the agricultural sector and public sector under
takings.
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In the 1950s speculation became rampant; the stock market came to the known
as satta bazaar. Despite speculation non payment or defaults were not very
frequent. The government enacted the securities contracts act in 1956 to
regulate stock markets. The company’s act 1956 was also enacted.
The 1980s witnessed an explosive growth of the securities market in India. The
government’s liberalization process, participation by small investors, speculation,
default, Ban of Badla, and resumption of Badla continued. Convertible
debentures emerged as a popular instrument in primary market.
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The 1990s will go down as the most important decade in the history of capital
market of India liberalization and globalization were the new terms coined and
marketed during this decade. Major capital market scams took place in the
1990s.
The securities scam of March 1992 involving Brokers as well as Bankers was
one of the biggest scam in the history of capital market. In the subsequent years
owing to free pricing, many unscrupulous promoters, who raised money from
capital market, proved to be fly-by-night operators.
The 1991-92 the Indian stock market witnessed a sea change in terms of
technology. Technology brought Radical changes in the trading mechanism. The
Bombay stock exchange was subject to nation wide competition by two new
stock exchange-National Stock Exchange set up in 1994 and over the counter
Exchange of India set up in 1992. The National securities clearing corporation
and National securities depository limited were set up in April 1995 and
November 1996 respectively for improved clearing and settlement and
dematerialized trading. Moreover, rolling settlement was introduced in January
1998 for all companies.
The Indian capital market entered the 21 st century with the Ketan Parekh scam.
As a result of the scam Badla discontinued from July 2001. Trading of futures
commenced from June 2000 and Internet trading was permitted in February
2000.
It has been a long journey for the Indian capital market. Now the capital market is
organized, fairly integrate, mature more global and modernized.
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The primary function of the system is to provide a link between savings and
investment for the creation of new wealth and to permit portfolio adjustment in
the composition of the existing wealth.
CAPITAL
FORMATIOON
ECONOMIC
GROWTH
FINANCIAL
SYSTEM
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FINANCIAL FINANCIAL FINANCIAL FINANCIAL
MARKET INSTITUTION INSTRUMENTS SERVICES
Stock exchange is a market in which securities are bought and sold and it is an
essential component of a develop capital market. The securities contracts
(regulation) act , 1956, defines stock exchange as follows, “ it is an association,
organization or body of individuals, weather incorporated or not , established for
the purpose of assisting, regulating and controlling of business in buying, selling,
and dealing in securities”. A stock exchange, thus, imparting marketability and
liquidity to securities, encourage investments in securities and assist corporate
growth stock exchange is regarded as “an essential concomitant of the capitalist
system of economy. It is indispensable for the proper functioning of corporate
enterprise. It brings together large amounts of capital necessary for the economic
progress of a country. It is the citadel of capital and the pivot of money market. it
provides necessary mobility to capital and directs the flaw of capital into
profitable and successful enterprises .it is the barometer of general economic
progress in a country and exerts a powerful and significant influence as a
depressant or stimulate of business activity I t may be defined as the place or
42
market where securities of joint stock companies and of government or semi
government bodies are dealt in.”
STOCK EXCHANGES
India boasts of the oldest stock exchange in Asia -- the Bombay Stock Exchange
is 125 years old. There are 23 recognised exchanges spread across the country,
but a process of consolidation is now under way. Many of the regional stock
exchanges have started aligning themselves with one or both of the two large
exchanges (the Bombay Stock Exchange and the National Stock Exchange) both
of which have VSAT networks that give them a nation wide reach.
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stocks. As of October 2000, about 98per cent of the trading in the stock
exchanges is in dematerialised mode.
India has put in place a regulatory regime for internet trading of stocks. A large
number of online brokers have started operations. More brokers are expected to
follow when the exchanges put in place an ASP (Application Service Provider)
model for online trading software. However, currently, the level of penetration of
online trading is extremely small.
The stock exchanges currently run two parallel settlement systems. Practically all
the trading takes place in the account period settlement system in which all
trades during a weekly account period are netted off and the net obligations are
settled five business days after the end of the period. The other unpopular
system is that of rolling settlements where trades of each day are settled on a
T+5 basis. SEBI is currently working on mandatorily shifting all stocks in a
phased manner to the rolling settlement system. Further improvements in the
settlement system to T+3 or beyond would have to wait for improvements in the
payment system.
However, account period settlement does not give rise to significant systemic
risks in India because of stringent end of day and intra-day margining systems.
Put simply, the weekly settlement is regarded as akin to a one-week futures
contract, and the systemic risk is taken care of by using futures style margining.
The exchange imposes daily mark to market and initial margins on the brokers to
eliminate settlement risk. Exchanges also have clearing houses to guarantee
settlements on the exchange. As a result, there have been no settlement failures
in the principal stock exchanges during the last five years
Table 2
Name Address
THE BOMBAY STOCK EXCHANGE Phiroze Jeejeebhoy
Towers,
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Dalal Street,
Mumbai- 400 001.
The Ahmedabad Stock Exchange Association Manek Chowk,
Ltd,. Ahmedabad - 380 001
'M' Block, First Floor,
Unity Building,
BANGALORE STOCK EXCHANGE LTD,.
J.C. Road, Bangalore.
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Kodialbail,
Mangalore - 575 003.
Lajpat Rai Market,
THE LUDHIANA STOCK EXCHANGE ASSN.
Clock Tower,
LTD.
Ludhiana 141 008.
'Exchange Building',
Post Box No.183,
MADRAS STOCK EXCHNAGE LTD.
11, Second Line Beach,
Chennai - 600 001
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Chamber Tower,
COIMBATORE STOCK EXCHANGE 8/732,Avvinashi Road,
Coimbatore 641 018.
Kingsway Building,
345, Bombay Bazar,
MEERUT STOCK EXCHANGE LTD.
Meerut Cantonment - 250
001.
OTC EXCHANGE OF INDIA. Maker Towers "F" Cuffe
Parade,
Bombay - 400 005.
Mahindra Towers,
THE NATIONAL STOCK EXCHANGE OF
A-Wing, RBC, Worli,
INDIA LTD.
Mumbai 18
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OVERVIEW ABOUT CENTRAL DEPOSITORY SERVICES (INDIA)
LIMITED (CDSL)
CDSL is the second depository set up by the Bombay Stock Exchange (BSE) in
India. It commenced its operations on March 22, 1999. It was set up BSE and
other co – sponsored with the net worth of Rs. 104 crores. In it, BSE has a 45 %
stake while others have 55 % stake. In the same year it has Five Stock
Exchanges established connectivity with it for offering trade in Demat securities
and 765 companies signed up with it to get their securities admitted for
dematerialization. It has 13 DPs in 91 cities across 168 locations covering 320
cities. Other co – sponsored are as under.
CDSL has also attained membership of the Asia – Pacific Central Securities
Depository Group (ACG). ACG has 22 members including depositories from
Japan, Hong Kong, Singapore, Malaysia, Australia, and New Zealand.
Membership of the organization is expected to help CDSL enhancing its
knowledge base and contributing to the development of other member
organizations in the best international practices, settlement risk management,
cross-border linkage and technological development. This, in turn, would help
CDSL to secure foreign institutional investors’ business through their custodian.
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Operations Performed by CDSL
COMPETITORS DETAILS
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STOCK HOLDING CORPORATION OF INDIA LIMITED
ICICI direct.com
SHARE KHAN
UTI SECURITIES
MARWADI GROUP
HDFC SECURITIES
KOTAK SECURITIES
RELIANCE MONEY
ANAGRAM SECURITIES
50
SHCIL (STOCK HOLDING CORPORATION OF INDIA LIMITED)
ICICI direct.com
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ICICI Bank set up its international banking group in fiscal 2002 to cater to
the cross border needs of clients and leverage on its domestic banking strengths
to offer products internationally. ICICI Bank currently has subsidiaries in the
United Kingdom, Canada and Russia, branches in Singapore and Bahrain and
representative offices in the United States, China, United Arab Emirates,
Bangladesh and South Africa.
SHAREKHAN
In the stock markets. Sharekhan does not claim expertise in too many
things. Sharekhan's expertise lies in stocks and that's what he talks about with
authority. So when he says that investing in stocks should not be confused with
trading in stocks or a portfolio-based strategy is better than betting on a single
horse, it is something that is spoken with years of focused learning and
experience
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UTI SECURITIES
53
HDFC SECURITIES
KOTAK SECURITIES
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The group a net worth of over Rs.1, 550 crores and employs over 3,000
employees in its various businesses. With a presence in 59 cities in India and
offices in New York, London, Dubai and Mauritius, it services a customer base of
over 5, 00,000
Kotak Mahindra has partnerships with Goldman Sachs (one of the world's
largest investment banks and brokerage firms), Ford Credit (one of the world's
largest dedicated automobile financiers) and Old Mutual (a large insurance,
banking and asset management conglomerate).
Karvy offers a full range of financial services and products ranging from Equities
to Research to enhance your wealth and hence achieve your financial goals.
Karvy Research
Premium research on all most all companies updated daily.
Depository Services
Value added services for seamless delivery.
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RELIANCE MONEY
ANAGRAM SECURITIES
Anagram Securities is the part of the Rs. 2000 crores Lalbhai Group. It
was found in 1993 and is a member of the National Stock Exchange. Last year
their trading crossed Rs. 17000 crores with around 5000 people making. They
are dealing only in Stock Market and nothing else. Though they are doing good
research work regarding companies and market which will be the beneficial to
the investors. Gujarat state is one of the most important fields of their business.
And they have about 30 branches throughout Gujarat
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Comparison of charges of Broking Houses :
Table 3
Opening Fee Brokerage
Parameters Trading A/c Demat A/c Delivery Square Off
ANGEL 100 460 .30 .06
SHCIL 100 400 .55 .12
ICICI Direct.com NIL 750 .75 .18
SHAREKHAN NIL 750 .50 .10
UTI SECURITIES NIL 600 NIL NIL
MARWADI GROUP NIL 125 .50 .10
HDFC SECURITIES 399 .50 .15
KARVY STOCKBROKING LTD. 100 NIL .30 .05
RELIANCE MONEY NIL 750 Rs.12/trade
ANAGRAM SECURITIES 100 400 .40 .10
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REGULATORY ENVIRONMENT DETAILS
LEGISLATION
The Government has framed rules under the SCRA, SEBI Act and the
Depositories Act. SEBI has framed regulations under the SEBI Act and the
depositories Act for registration and regulations of all market intermediaries, for
prevention of unfair trade practices, insider trading, etc. Under these Acts,
Government and SEBI issues notification, guidelines, and circulars which need
to be compiled with the market participants. The self-regulatory organizations
(SROs) like Stock Exchanges have also laid down their rules.
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REGULATORS
The regulators ensure that the market participants behave in a desired manner
so that the securities market continues to be a major source of finance for
corporate and government and the interest of investors are protected. The
responsibility for regulating the securities markets shared by Department of
Economic Affairs (DEA), Department of Company Affairs (DCA), Reserve Bank of
India (RBI), Securities and Exchange Board of India (SEBI) and Securities
Appellate Tribunal (SAT).
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OBJECTIVES OF SEBI
The promulgation of the SEBI ordinance in the parliament gave status to SEBI in
1992. According to the preamble of the SEBI, the three main objectives are:
To protect the interests of the investors in securities
To promote the development of securities market
To regulate the securities market
FUNCTIONS OF SEBI
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REGISTRATION OF INTERMEDIARIES
The intermediaries with securities market shall buy, sell or deal in securities after
obtaining the registration from SEBI, as required by section 12:
1. Stock-broker
2. Sub-broker
3. Share transfer agent
4. Banker to an issue
5. Trustee of the trust deed
6. Registrar to an issue
7. Merchant banker
8. Underwriter
9. Portfolio manger
10. Investment advisor
11. Depository
12. Depository participant
13. Custodian of securities
14. Foreign institutional investor
15. Credit rating agency
16. Collective investment schemes
17. Venture capital funds
18. Mutual funds
19. Any other intermediary associated with the securities market
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MARKETING DEPARTMENT STUDY
REPORTS :
Nifty Tracker
Online Chart
Intraday Calls
Position Calls
Derivative Strategies
Futures Calls
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PORTFOLIO MANAGEMENT SERVICES
PMS Schemes @ Angel
ANGEL GOLD
COMMODITIES SERVICES
ONLINE TRADING
ANGEL DIET
ANGEL ANYWHERE
ANGEL TRADE
The details of the products and services has been mentioned in the products
detail section of company profile.
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5 PS FOR ANGEL PRODUCTS :
Brokerage of 0.06p. for intra day and 0.30p. for delivery based trading.
50% sharing of brokerage in case of Sub-broker’s clients.
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Existing client account can be used for Angel Products. Clients can do
there own transactions in the same account as well.
2. POSITIONING
It is for the investors who wishes to seek professional advice for their
investments.
Product Segment
Angel Products are for the people who fall in middle class – higher
middle class section of the society.
People who are not risk averse and can understand the return benefits
vis-à-vis calculated risk taken.
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Target Customers
Young professionals.
Small scale businessmen who are not risk averse and will understand
the importance of reasonable returns.
Retired people who have taken hefty VRS or has savings of which 20-
25% can be invested in equities.
3. PACKAGING
4. PLACEMENT
Distribution Channel
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Existing B2C as well as B2B channels can be explored.
Marketing Strategies
5. PROMOTION
Free SMS service. Here a client will receive our fundamental calls free
of cost for a limited period.
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INNOVATIVE PRACTICE EMPLOYED
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OPERATIONS DEPARTMENT STUDY
COMPANY LOCATION
Third stage- selection of specific site: this refers to the selection of specific site
within the community. The factors that influence the site location are the cost of
the land, availability and suitability of the land.
The factors that the Company considered while selecting location are :
Infrastructure facilities
Availability of power
Community attitude
Municipal and other Civil amenities
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LAYOUT
The primary goal of layout is to maximize the profit by arrangement of all facilities
to the best advantage.
The Branch Manager’s Cabin and the Conference Room are near to each other
so that conference can be held immediately when required.
The two Trading Rooms are placed together so that any problem during the
trading sessions can be handled easily.
The Back Office, Risk Management Desk and KYC Desk are placed in a line so
that they can communicate whenever required and the queries of the customer
can be solved.
The IT Division is kept separately with server and all the necessary connections.
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PLANNING AND CONTROLLING
There is proper planning of how various activities would be carried out like
opening of account, dealing while trading sessions, issuing contract notes, etc.
There is also co-ordination among various divisions like back office, Risk
Management Desk, KYC Desk, etc so that proper service can be provided to
customers.
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MAINTENANCE
The Company has designed the Quality Assurance Policy which maintains the
service of the Company as per the desire level of the customer.
The Quality Assurance Policy helps the Company to fulfill the expectations of the
customers and retain them.
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PROCUREMENT
STORAGE
There are various cupboards for various files like contract notes cupboard,
account opening forms cupboard, sub brokers files cupboard and general
stationary cupboards are kept for easy availability of files and stationery
whenever required.
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FINANCE DEPARTMENT STUDY
As the Company being Pvt. Ltd. Company, has denied to part the financial
information, so I am unable to provide the financial data.
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HUMAN RESOURCE DEPARTMENT STUDY
Human resource management policies are vital for organizations who are serious
about resolving personnel issues and finding HR solutions. Absolute HR
solutions provides clients with professional human resource advice, human
resource policy solutions and job description writing and evaluation services.
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RECRUITMENT
Angel takes pride in appointing dynamic individuals who would share their vision
and philosophy of 'providing the best value to all our customers. They believe
that a professional, determined and focused approach towards the task at hand
would enable all their aspirants to learn, groom and grow with them. They offer
the perfect blend of stimulus in the form of an attractive compensation package
and a stimulating work environment.
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The new joinee will be attending a two day Induction Programme in order to
acquaint him/her with the Angel World (Its People, Culture, Business Processes,
Products & services & New Initiatives)
INDUCTION
This program is for new members entering the organization. As new joinees, they
find themselves thrown into a new environment and a confused state This is a
very important program which helps the new member to get familiarized with
them with Angel's Vision, Business Philosophy, values, work culture, Products &
Services, Important Business Processes, Policies & Procedures etc.
TRAINING
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They expect serious commitment and participation from the staff members for all
the training initiatives. These people development programmes are an integral
part of the performance appraisal process and those excelling in these programs
can look forward to be suitably rewarded.
e-Learning
They have initiated e-Learning for making training more accessible through video
conferences & through their Employee portal. e-learning also makes the transfer
of knowledge more effective & consistent. Along with a host of other training
programs, their Induction program too is to be delivered across Angelites through
our e-learning platform.
DEVELOPMENT
“Do not ask what will happen if we train people and they leave? Instead ask what
will happen if we do not train people and they stay on.” - Zig Ziegler
As they are steadily moving up in the Customer Value Chain by providing Advice
Based Broking & becoming a Knowledge Leader in the Retail Broking Business,
they encourage all Angelites to upgrade their knowledge about the Dealing and
advisory Process by obtaining NCFM Certifications. Apart from this they also
have advanced training modules in core functional areas such as marketing /
sales, corporate services, research & advisory etc. which help in creating a
career path for Angelites.
They believe in offering careers & not jobs, hence they recruit fresh graduates /
post-graduates. They develop their skills & competencies which helps them
create a niche for themselves & achieve professional development.
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PERFORMANCE APPRAISAL SYSTEM
At ANGEL, increments will be based only on annual appraisals and will be strictly
bench marked with the relative importance of the role and specific contributions
of each employee. Annual Appraisal’s are reviewed twice in a year i.e. in July and
December. New employees who have at least completed 9 months of service (6
months of confirmed service) by July or December will be eligible for an annual
increment, depending on their performance & contribution to the company.
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Aligns the compensation of each employee with his performance &
successful com pletion of NCFM modules related to their job profiles
Downward revisions in compensation are also possible
SUCCESSION
The 'star' Angelites are change leader and helps in acting as catalysts in
driving the process improvement programs across various functional areas
and profit centers through their Management Development Program. These
change leaders (*Angel Managers) play an active role in strengthening the
professional managerial team by benefiting from this knowledge sharing
initiative.
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PRACTICES FOLLOWED BY ANGEL
Payroll Procedure
The salaries of all employees will be directly credited by the 30th or 31st of
each month, to their individual corporate salary accounts maintained with
HDFC Bank Limited. Employees who have newly joined will be given one
months time period within which they are required to open a corporate salary
account with HDFC. The account opening form will be given along with the
appointment letter. Proof of address & photo identity and only one passport
sized photograph is required for opening the corporate salary account. In
case any employee is staying in rental premises, he/she may give the office
address as the mailing address. Salaries of new employees will be delayed,
incase accounts have not been opened even after a month of joining.
1. Working Hours : Working hours are from 9:30 a.m. to 6.30 p.m. from
Monday to Saturday with a 30 minutes lunch break between 1.00 to
3.00 p.m. However the employee may be required to work such hours
as may be necessary to carry out the duties to the satisfaction of the
Company. If employee is required to work in shifts, then shift schedule
would be made available to the employee by the department head and
the same should be informed to HR in CSO for recording the same
schedule in the HRMS – Harmony.
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2. Attendance : They have introduced Harmony to facilitate their Central
Support Office and all branches with online attendance. Attendance is
mapped for Angelites when they log into harmony homepage
(http://harmony.angeltrade.com). All Angelites are required to login to
Harmony at least twice , once on arrival and once on departure from
office. Employees on Branch/client visits may put up an online
application for OD Official Outdoor duty through Leave under Their
Angelite Profile link available on their homepage. The same gets
recorded in the online attendance after HODs approval. One passport
sized photograph will be required by the HRD for scanning the same to
put it up on their harmony homepage. Branches may maintain a
muster till all angelites regularly log in to harmony.
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Dress Code
The code has to be adhered to on all working days between Monday and Friday.
A formal full sleeved shirt, appropriate trouser and a tie for important
external meetings.
One is expected to be clean-shaven every day.
All accessories like briefcase, spectacles, pen, handkerchief etc. should
be business-like and should match with the dress code.
Appropriate shoes (with socks), which are well polished.
A salwaar kameez or western formal dress, or a sari that suits the office
environment
The colour of the dress should be sober and businesses-like and should
not “be loud”.
One is expected to wear appropriate make-up, which goes with the dress
code.
Wearing of excessive jewellery and accessories should be avoided.
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Remuneration, Compensation and Benefit
Compensation Philosophy
ANGEL strives to have a competitive and fair compensation policy aligned with
its HR philosophy of meritocracy and Pay for Performance
1. Fixed Salary : The Company offers a fixed salary and benefits package to
employees based on the nature of their job and expected contribution
towards achievement of corporate goals. The Fixed compensation
structure will normally be reviewed once every year.
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Employee State Insurance contribution
Employees falling under the Tax net i.e. whose Gross Salary + Bonus
exceeds Rs.75,000/- per annum, have to give a self declaration in the month
of April each year to the Company stating the amount and type of investments
that he intends to make during the year. On the basis of the declaration given
by the employee, Income Tax on his/her salary will be deducted as applicable.
During the year he/she has to give supporting documents for his investments
made, e.g. L.I.C. premium receipts, or for any deduction claims e.g. Rent
receipts etc. The employee has the option to give in the requisite documents
at the end of each month or latest by the 15th of February each year. Any
investments made by the employee after 15th of February each year will not
be considered for his/her personal tax saving purpose by the Company. An
exception can be made only in case if any due dates for payments of
premiums etc. are actually falling after 15th of February.
4. Mobile Phone : The Company shall pay a fixed allowance for expenses
incurred by an employee in the Sales Team within the prescribed limits as
sanctioned by the concerned HOD. For Non-Sales staff this facility would
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be made available only on a need basis on sanction by the HOD and the
Head HR.
Personal Loans :
All employees who have completed 1 year of continuous service with the
organisation are eligible to avail personal loans from the Company only in case of
dire need of finance.
Loans availed by the employees during year will have to be repaid within 10
installments and the same will be deducted from the salary each month. The loan
can be availed only if any previous loan taken is repaid wholly.
Loans shall be provided at the absolute discretion of the Management and will be
decided on a case to case basis depending on the urgency, need and criticality of
the subject.
Advances:
Advance is generally given once in 4 months against one months’ salary after
requisite deductions. The entire amount given as advance will be adjusted
against the next months’ salary.
Transfer
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The Company may transfer any employee at it’s discretion to any of it’s
departments, functions, Regional or Branch Offices anywhere in India.
Termination of employment
During the probation period, the Company can terminate the employee with one
week notice or payment in lieu of the notice. Termination of confirmed employees
will require two months notice. The Company can, at its absolute discretion,
terminate any confirmed employee without assigning any reason whatsoever,
after giving him one months notice. If in any case the Company gives insufficient
notice, salary in lieu of the lesser period of notice will be paid to the employee.
The company reserves the right to hold employees termination incase of
unearned loans. No leave will be allowed during notice period without a Director’s
approval.
The Company reserves the right to terminate the employment without notice or
payment in lieu of notice, should the employee be guilty of misdemeanor,
misconduct, negligence, medical disability, irregular attendance and / or frequent
absence & disobedience of orders of the Superior. If the employee takes outside
employment (with or without remuneration) without permission of the Company,
he will be liable to immediate dismissal.
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Through this medium, important communications/issues would also be
actively addressed. The employee may e-mail thei0000r articles to post-
it@angelbroking.com or angelallure@angelbroking.com by the 25th of
each month.
3. e-mail Addresses : Each employee will be provided with his or her e-mail
address for internal as well as external communication.
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All employees should adhere to the lunch timings. Employees carrying
their own edibles should only consume it in the canteen and no other
place. No edibles will be allowed at individual work stations, excepting
offices where canteen facilities or a separate room for lunch is not
provided. In such cases ensure that the tables are left clean and tidy after
consumption of food.
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It is not possible for ANGEL to follow-up with RPFC or the Trusts of
previous employers for the transfer. Once Forms are forwarded by
ANGEL, it may be in individual interest to see that the follow up is done.
Keep the workstation, desk and surrounding area clean and in proper
condition.
While leaving at the end of the day, keep all newspapers, files, books,
folders, papers, stationery etc. in the drawers. Cleaners have been
instructed to dispose off papers lying on the table.
Keep your storage space properly locked & ensure that one key is kept
with Admin dept.
Please ensure that visitors and guests are met in the meeting room. They
should not be allowed to enter the dealing room / other area.
Please talk softly on the phone or otherwise, so that it does not distract
others.
Please use self-service for drinking of water, tea, filing, photocopying etc.
Please use office equipment like PCs, Projectors, ACs etc. carefully and
inform Admin Dept in case of any malfunctioning.
Employees making use of the Meeting / Conference Rooms and included
facilities, for meetings with visitors/clients are required to ensure that after
the meeting is over all lights / AC / Computer / OHP switches are put off.
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LATEST PRACTICES
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RESEARCH
INTRODUCTION :
This research has been conducted to find out the present and the future scenario
of e-Broking.
In the past, investors had no option but to contact their broker to get real time
access to market data. But now with the concept of e-Broking, it is possible to
get real time data online without the need of contacting broker. In e-Broking
system, the software is directly made available to the end-user and he/she can
access real time data immediately.
RESEARCH OBJECTIVE :
The primary objective is to find the present and the future scenario of
e-Broking.
To find the awareness of online trading
To find the feature of online trading which can convert the offline
traders to online trading.
To identify potential customers
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RESEARCH METHODOLOGY
RESEARCH DESIGN :
For any researcher the research methodology is the most important criteria to
decide before the actual research process starts. There are many methods for
conducting the research some of them are as under:
Out of various research methods the research method, which was most suitable
to my research, was Exploratory Research because it provides me all the
opportunities to cover the all the aspect that I require to conduct the research and
get an appropriate out come.
SAMPLING DESIGN :
The Sampling Design taken here is Non-Probability Convenience based
Sampling.
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DATA COLLECTION :
The task of data collection begins after a research problem has been defined and
research design/plan chalked out. While designing about the method of data
collection to be used for the study, the researcher should keep in mind two types
of data.
The data, which are collected for the first time, directly from the
respondents to the base of knowledge & belief of the research, are called
primary data.
2) Secondary Data:
When data are collected & compiled in a published nature, it is called
secondary data. So far as this research is concerned Internet and the
Company brochures and pamphlets have been referred to.
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Sampling Process :
It is true that it’s very difficult to do the research with the whole universe. As we
know that it is not feasible to go for population survey because of the numerous
customers and their scattered location. So for this purpose sample size has to be
determined well in advance and selection of sample also must be scientific so
that it represents the whole universe.
So far as this research is concerned, due to time constraint the sample size
taken is of 100 respondents.
Personal visit & filling up of the questionnaire, with little bit of observation.
Taking in to consideration that the research instrument selected by me was the
questionnaire because it gives more flexibility in terms of collection of the data
and one has a chance to meet the responder personally and have an idea of
getting an important unknown data that can be collected through their behavior.
There are lots of players in the market including number of broker and sub
brokers in the market. In this technological era each player in this industry takes
the maximum benefit of technical aspects by means of e-broking i.e. e-trading.
The study may not include the sub brokers as for the sake of convenience; I
restricted my survey taking into consideration their Name, Fame & also the
products and services they give to their customers such as trading on phone, low
brokerage, low trade charges, the funding facilities, the deposit ratios etc… This
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survey is especially focused on the awareness about the e-broking and its
present and future in the potential market.
For any researcher it is important that how one has analyzed his or her data in
way that it can be clearly interpreted by him and the proper results can be
derived.
Table 2
Online Trading percent
Users 16
Non Users 84
Graph 1
The above graph shows the users and non users of online trading. The users of
online trading are very less compared to that of offline traders. Among 55
respondents only 9 respondents use online trading and the rest use offline
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trading. This shows that the concept of e-Broking is not so prevalent in the
market. People still prefer to use the traditional offline method of trading.
Age percent
21 – 35 78
36 – 50 11
51 – 65 11
Above 66 0
Graph 2
The Sampling technique was Random sampling so; there is no fixed number of
respondents for the specific age group. The above graph indicates the age group
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of the people using online trading. It can be noted that among the 55
respondents, 7 users fall in the age group of 21-35, 1 user fall in the age group of
36-50 and 1 user fall under the age group of 51-65.
Occupation :
□ Profession □ Businessman □ Govt. Servant
□ Employee □ Others __________
Table 4
Occupation percent
Profession 0
Businessman 33
Govt. Servant 11
Employee 22
Others 33
Graph 3
The above graph shows the occupation of the persons using online trading. The
highest no. of users fall under the category of businessman. This shows that
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persons having their business can trade easily through online trading as they can
trade whenever they are free or whenever they wish to trade. The category of
others include mostly students.
Yearly Income :
□ Less than 1 lac □ 1 to 2 lacs □ 2 to 3.5 lacs
□ 3.5 to 5 lacs □ 5 lacs or more
Table 5
Income percent
Less than 1 lac 4
1 – 2 lac 3
2 – 3.5 lac 0
3.5 – 5 lac 2
5 or more lac 0
Graph 4
The above graph shows the income range of the users of online trading. More of
them fall under the category of less than Rs. 1 lac. There are almost no users
that fall in the income range of Rs. 5 lac or more. It can be interpreted that
persons in the income range of Rs. 5 lac or more have less time to trade or look
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after the markets themselves. So even if they invest, they usually prefer offline
trading.
Table 6
Broking House percentage
Angel 11
ICICI 22
India-bulls 11
others 56
Graph 5
The above graph shows the various broking houses from where the user prefers
to invest or rather whose software and tips they use. It shows that only 11% of
users of e-Broking prefers to invest from Angel Broking.
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This shows that Angel has more market area to cover by its unique features. The
Broking House that fall under the others category are Reliance Money, Anagram,
etc. This shows the strong position of competitors in the market and the scope
for Angel to expand its business.
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Which features of e-Broking you like the most ?
□ Instant Online Fund Transfer with Multiple Banks
□ BSE, NSE, F & O, MCX and NCDEX in a single screen
□ No installation required
□ Advantages of mobility
□ Intra day / Historical charts with various indicators
Table 7
Features percent
F1-Instant Online fund transfer with 34
Multiple Banks
F2-BSE, NSE, F & O, MCX and 38
NCDEX in a single screen
F3-No installation required 0
F4-Advantages of mobility 22
F5-Intra day / Historical charts with 11
various indicators
Graph 6
The above graph shows the features of online trading liked by its users. I have
taken here five features of online trading among which the features of Instant
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Online Fund Transfer with Multiple Banks and BSE, NSE, F & O, MCX and
NCDEX on a single screen are liked by the users of online trading. This shows
that offline traders can be converted to online trading with the help of these
features as the feature of Online Fund Transfer saves time and the feature of all
exchanges on a single screen will create the interest of those who wish to trade
in equity as well as commodity.
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FOR NON USERS OF ONLINE TRADING :
Table 8
Age percent
21 – 35 74
36 – 50 17
51 – 65 9
Above 66 0
Graph 7
The above graph shows that how many persons falling under a specific age
group do not use online trading. It was found that out of 46 respondents,
maximum no. of persons fall under the age category of 21-35. Also in the case of
users of online trading, the maximum no. of users fall under the age category of
21-35. This shows that youngsters are more risk takers than aged people.
Occupation :
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□ Profession □ Businessman □ Govt. Servant
□ Employee □ Others __________
Table 9
Occupation percent
Profession 9
Businessman 35
Govt. Servant 15
Employee 15
Others 26
Graph 8
The above graph shows the no. of persons falling under different occupation
category not using online trading. It is found that maximum no. of persons fall
under the category of businessman as in the case of users of online trading.
This shows that businessman are more interested in stock market.
Yearly Income :
□ Less than 1 lac □ 1 to 2 lacs □ 2 to 3.5 lacs
□ 3.5 to 5 lacs □ 5 lacs or more
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Table 10
Income percent
Less than 1 lac 2
1 – 2 lac 2
2 – 3.5 lac 17
3.5 – 5 lac 46
5 or more lac 33
Graph 9
The above graph shows the income range of persons not using online trading.
Here also more no. of persons fall under the category of income of 3.5 lac to 5
lac case of users of online trading. This shows that persons falling under the
category of income of 3.4 lac to 5 lac are more interested in stock market.
Table 11
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Broking House percent
Angel 24
Marwadi 22
Sharekhan 15
Indiabulls 4
ICICI 2
IndiaInfo 9
Others 24
Graph 10
The above graph shows the various broking houses from where people not using
online trading prefer to invest. More no. of users prefer to invest from Angel
Broking House. The others category include Reliance Money, Anagram, etc.
This shows that Angel Broking has more no. of offline traders than online traders.
It can be interpreted that Angel has more scope of potential customers for online
trading compared to offline trading.
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CONCLUSIONS
1. From the research carried out, it can be concluded that presently the concept
of e-Broking is not prevalent in the market. Still the traditional method of
offline trading is preferred by the people. As it is a new concept, it will take
time for people to change their mode of trading.
3. The users of online trading are mostly businessman. Other persons falling in
the category of employee, govt. servants or professionals are either not
aware or are not mentally prepared for using e-Broking concept. Such people
can be made aware about the benefits of e-Broking and it uses should be
properly conveyed so that people become ready to use this concept.
4. The two features i.e. Online Transfer of Funds through Multiple Banks and
BSE, NSE, F & O, MCX and NCDEX on a single screen are liked more
compared to other features by the users of e-Broking. These two features
can be emphasized to convert offline traders to online traders.
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LIMITATIONS OF THE STUDY
Personal Bias:
Some respondents may have had personal bias due to which they may not
have given the correct information and due to which the right conclusion may
not have been derived at.
Area:
The area was limited only to Jamnagar city. The result may have varied, if it
was conducted somewhere else.
Sample Size:
The Sample size taken is only 55 due to time constraint; which may not result
in very accurate results.
Time Limit:
The time limit taken for conducting the research was very less which could
also be one of the limitations of the study.
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RECOMMENDATIONS
To make the concept of e-Broking powerful, the Company must educate the
people regarding the benefits of e-Broking.
The Company can give training to the customers regarding e-Broking and
keep seminars for the customers.
A person having sound knowledge about using the software can be appointed
to solve the queries of customers.
The features of online trading can be used by the Company to convert offline
traders to online traders.
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APPENDIX
QUESTIONNAIRE :
Hello Sir / Madam
This survey aims to find out the present and the future scenario of e-Broking in
stock market. This survey is carried out purely for the academic purpose. It will
remain highly confidential.
Hope you would spend your valuable time in going through the questionnaire and
filling it up. Your kind contribution is heartily acknowledged.
2) Do you invest ?
□ Yes □ No
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□ Online Trading □ Offline Trading
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LIST OF FIGURES :
LIST OF TABLES :
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Service
13. 9 The occupation of the people not using e- 107
Broking Service
14. 10 The yearly income of the people not using e- 108
Broking Service
15. 11 The Broking House from where people not 109
using e-Broking Service prefer to
invest
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LIST OF GRAPHS:
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BIBLIOGRAPHY
BOOKS :
WEBSITES :
www.angelbroking,com
www.angeltrade.com
www.harmony.angeltrade.com
www.nseindia.com
www.bse.com
www.sebi.gov.in
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