Share Market & Financial System-Jntu Format

Index
CONTENTS PAGE NO.
CHAPTER 1 INTRODUCTION
CHAPTER 2 RESEARCH METHODOLOGY
CHAPTER 3 INDUSTRY PROFILE
CHAPTER 4 COMPANY PROFILE
CHAPTER 5 THEORETICAL FRAME WORK
CHAPTER 6 DATA ANALYSIS & INTERPRETATION
CHAPTER 7 FINDINGS & SUGGESTIONS
CHAPTER 8 CONCLUSION & BIBLIOGRAPHY
ANNEXURE QUESTIONNAIRE
CHAPTER -1
INTRODUCTION
The Bombay Stock Exchange in India
Type Stock Exchange
Location Mumbai, India
Owner Bombay Stock Exchange Limited
Key people Rajnikant Patel (CEO)
Currency INR
No. of listings ~6,000
MarketCap US$ 1.61 trillion (2006)
Volume US$ 980 billion (2006)
Indexes BSE Sensex
Website http://www.bseindia.com/
STOCK MARKET
A stock market, or (equity market), is a private or public market for

the trading of company stock and derivatives of company stock at an
agreed price; these are securities listed on a stock exchange as well
as those only traded privately.
The size of the world stock market is estimated at about $51 trillion.
The world derivatives market has been estimated at about $480
trillion face or nominal value, 12 times the size of the entire world
economy. It must be noted though that the value of the derivatives
market, because it is stated in terms of notional values, and cannot
be directly compared to a stock or a fixed income security, which
traditionally refers to an actual
value. Many such relatively illiquid securities are valued as marked

to model, rather than an actual market price.
The stocks are listed and traded on stock exchanges which are entities a corporation or mutual
organization specialized in the business of bringing buyers and sellers of stocks and securities
together. The stock market in the United States includes the trading of all securities listed on the
NYSE, the NASDAQ, the Amex, as well as on the many regional exchanges, e.g. OTCBB and
Pink Sheets. European examples of stock exchanges include the London Stock Exchange, the
Deutsche Borse and the Paris Bourse.
RESEARCH OBJECTIVE
STATEMENT OF PROBLEM
Are people really getting benefits from the various predictions being made by the analysis?
Objective of the research project
• To understand the importance of economic analysis of firm as a producing unit

• To learn the role of money, and banking system.
• To understand the function of financial system.
• To understand the financial, money and capital market.
• To explain stock exchange.
• To explain analysis of equity data.
• To review the concept and technique of price and trend analysis
• To asses the advantage and disadvantage of stock prediction
• If possible to design how stock prediction technique.
• To make the people move aware about market
LIMITATION OF STUDY
1. lot of efforts have been undergone to improve the predication

techniques .like earlier there was only fundamental analysis
being used but now technical analysis has come into existence
2. Once the people who are involved in it. They play it like
gambling and they think that its same it is difficult to change
their mindset.
3. It’s difficult to make people aware about the market knowledge
it is very vast.
4. Last of technical thing are involved in it difficult for everyone
to go through it.
CHAPTER- 2
RESEARCH METHODOLOGY
RESEARCH METHODOLOGY AND LIMITATION
RESEARCH DESIGN
Problem is complex and real in nature, lot of efforts have undergone for the research by meeting
various people and asking them about their experience .various people have undergone huge
losses in the stock market lot of material has been collected from the internet.
The research methodology consisted following steps:
1. DEFINING THE OBJECTIVES:
The aim of this project as has already been mentioned was to “sales and analysis of mutual
funds.” For this our research contains two parts-
a. To sale the products we have to first generate database on the basis of marketing
research.
b. Analysis of different schemes of share market.
2. DEVELOPING THE RESEARCH PLAN:
This step called for decision on the data sources, sampling plan and contact methods.
 DATA SOURCES
Data was collected from primary and secondary data. The various sources are:
i. PRIMARY DATA
This type of data does not exist; it is originated by primary sources like personal interaction or
field back forms, questionnaires that act as tools for collecting data.
ii. SECONDARY DATA

This type of data already exists, and used to generate information as required. We collect the
secondary data through Internet, books, journals and magazines of the company, various
company broachers, talking with people.
 RESEARCH APPROACH
The research approach adopted here was the survey method. But other approaches also used such
as observation research.
3. COLLECTING THE INFORMATION
With respect to primary and secondary data, the information is collected. Primary data tells us
present scenario of financial market. Secondary data means that to get the data from the internet,
company magazines, talking with people and convince.
DATA COLLECTION:
Base on the above questionnaire data are collected by survey methods.
1. SAMPLING METHOD:
 The sampling method, which is adopted, is Random Sampling.
2. DATA ANALYSIS:
3. The Analysis of survey has been done on % basis.
DATA COLLECTION
PRIMARY DATA
The primary data to be selected was based upon the response of the respondents to the
questionnaire designed. The questionnaire designed was given to us from our immediate boss...
The questionnaire consists of closed ended questions.
A part of Questionnaire was targeted to know the personal details of the respondents. Another
part comprised of the self-designed questionnaire and will consist of closed ended questions with
every question having its own importance and meaning.
SECONDARY DATA
The secondary data was collected by referring through web sites, and the final data was analyzed
systematically to achieve the desired result.
DATA ANALYSIS
For analyzing the data obtained after conducting the survey, percentage method was used. All the
views and data obtained were also interpreted as clearly as possible.
 STUDY
The present investigation is a descriptive and marketing type of study undertaken to estimate the
comparative study of share market analysis. The present study identifies views of customers &
analysis of share market along with the self-analysis.
 SAMPLE SIZE
For the purpose of analysis a sample size of respondents was selected. The target group of the
respondent was job holders and an earning person whatever his/her age may be. The sample size
taken was 60.
 SAMPLING METHOD
The sampling method chosen for the project was “Random Sampling”. This type of sampling is
also known as chance sampling or probability sampling where each and every item in the
population has an equal chance of inclusion in the sample and each one of the possible samples.
This procedure gives each item an equal probability of being selected.
CHAPTER 3
INDUSTRY PROFILE
3.1 HISTORY OF STOCK EXCHANGE
The only stock exchanges operating in the 19th century were those of Bombay set up in
1876 and Ahmedabad set up in 1894. These were organized as voluntary non profit-making
association of brokers to regulate and protect their interests. Before the control on securities
trading became central subject under the constitution in 1960, it was a state subject and the
Bombay securities contracts (control) Act of 1926 used to regulate trading in securities. Under
this act, the Bombay stock exchange was recognized in 1927 and Ahmedbad in 1937.
During the war boom, a number of stock exchanges were organized in Bombay,
Ahmedbad and other centers, but they were not recognized. Soon after it became a central
subject, central legislation was proposed and a committee headed by A.D. Gorwala went into the
bill for securities regulation. On the basis of the committee’s recommendations and public
discussion, the securities contracts (regulation) Act became law in 1966.
DEFINITION OF STOCK EXCHANGE
“Stock exchange means any body or individuals whether incorporated or not, constituted
for the purpose of assisting, regulating or controlling the business of buying, selling or dealing in
securities”.
It is an association of member brokers for the purpose of self-regulation and protecting

the interests of its members.
It can operate only if it is recognized by the Government under the securities contracts
(regulation) Act, 1966. The recognition is granted under section 3 of the Act by the central
government, Ministry of Finance.
BYLAWS
Besides the above act, the securities contracts (regulation) rules were also made in 1976
to regulative certain matters of trading on the stock exchanges. There are also bylaws of the
exchanges, which are concerned with the following subjects.
Opening / closing of the stock exchanges, timing of trading, regulation of blank transfers,
regulation of Badla or carryover business, control of the settlement and other activities of the
stock exchange, fixating of margin, fixation of market prices or making up prices, regulation of
taravani business (jobbing), etc., regulation of brokers trading, brokerage chargers, trading rules
on the exchange, arbitrage and settlement of disputes, settlement and clearing of the trading etc.
3.2 REGULATION OF STOCK EXCHANGES
The securities contracts (regulation) act is the basis for operations of the stock exchanges
in India. No exchange can operate legally without the government permission or recognition.
Stock exchanges are given monopoly in certain areas under section 19 of the above Act to ensure
that the control and regulation are facilitated. Recognition can be granted to a stock exchange
provided certain conditions are satisfied and the necessary information is supplied to the
government. Recognition can also be withdrawn, if necessary. Where there are no stock
exchanges, the government licenses some of the brokers to perform the functions of a stock
exchange in its absence.
3.3 SECURITIES AND EXCHANGE BOARD OF INDIA (SEBI).
SEBI was set up as an autonomous regulatory authority by the government of India in 1988 “to
protect the interests of investors in securities and to promote the development of, and to regulate
the securities market and for matter connected therewith or incidental thereto”. It is empowered
by two acts namely the SEBI Act, 1992 and the securities contract (regulation) Act, 1966 to
perform the function of protecting investor’s rights and regulating the capital markets.
3.4BOMBAY STOCK EXCHANGE

This stock exchange, Mumbai, popularly known as “BSE” was established in 1876
as “The Native share and stock brokers association”, as a voluntary non-profit making
association. It has an evolved over the years into its present status as the premiere stock
exchange in the country. It may be noted that the stock exchanges the oldest one in Asia, even
older than the Tokyo stock exchange, which was founded in 1878.
The exchange, while providing an efficient and transparent market for trading in
securities, upholds the interests of the investors and ensures redressed of their grievances,
whether against the companies or its own member brokers. It also strives to educate and
enlighten the investors by making available necessary informative inputs and conducting
investor education programs.
A governing board comprising of 9 elected directors, 2 SEBI nominees, 7 public

representatives and an executive director is the apex body, which decides is the apex body,
which decides the policies and regulates the affairs of the exchange.
The Exchange director as the chief executive offices is responsible for the daily today
administration of the exchange.
BSE INDICES :
In order to enable the market participants, analysts etc., to track the various ups and
downs in the Indian stock market, the Exchange has introduced in 1986 an equity stock index
called BSE-SENSEX that subsequently became the barometer of the moments of the share prices
in the Indian stock market. It is a “Market capitalization weighted” index of 30 component stocks
representing a sample of large, well-established and leading companies. The base year of sensex
1978-79. The Sensex is widely reported in both domestic and international markets through print
as well as electronic media.
Sensex is calculated using a market capitalization weighted method. As per this
methodology the level of the index reflects the total market value of all 30-component stocks
from different industries related to particular base period. The total market value of a company is
determined by multiplying the price of its stock by the nu7mber of shared outstanding.
Statisticians call index of a set of combined variables (such as price and number of shares) a
composite Index. An indexed number is used to represent the results of this calcution in order to
make the value easier to go work with and track over a time. It is much easier to graph a chart
based on Indexed values than on based on actual valued world over majority of the well-known
Indices are constructed using “Market capitalization weighted method”.
In practice, the daily calculation of SENSEX is done by dividing the aggregate market
value of the 30 companies in the index by a number called the Index Divisor. The divisor is the
only link to the original base period value of the SENSEX. The Devisor keeps the Index
comparable over a period value of time and if the references point for the entire Index
maintenance adjustments. SENSEX is widely used to describe the mood in the Indian stock
markets. Base year average is changed as per the formula new base year average = old base year
average*(new market value / old market value).
3.5 NATIONAL STOCK EXCHANGE
The NSE was incorporated in Nov, 1992 with an equity capital of Rs.26 crs. The
international securities consultancy (ISC) of Hong Kong has helped in setting up NSE. ISC has
prepared the detailed business plans and initialization of hardware and software systems. The
promotions for NSE were financial institutions, insurances, companies, banks and SEBI capital
market ltd, Infrastructure leasing and financial services ltd and stock holding corporations ltd.
It has been set up to strengthen the move towards professionalisation of the capital
market as well as provide nation wide securities trading facilities to investors.
NSE is not an exchange in the traditional sense where brokers own and manage the
exchange. A two tier administrative set up involving a company board and a governing aboard of
the exchange is envisaged.
NSE is a national market for shares PSU bonds, debentures and government securities
since infrastructure and trading facilities are provided.
NSE-NIFTY:
The NSE on Apr22, 1996 launched a new equity Index. The NSE-60. The new Index
which replaces the existing NSE-100 Index is expected to serve as an appropriate Index for the
new segment of future and option.
“NIFTY” mean National Index for fifty stocks. The NSE-60 comprises fifty companies that
represent 20 board industry groups with an aggregate market capitalization of around Rs 1,
70,000 crs. All companies included in the Index have a market capitalization in excess of Rs. 600
crs each and should have trade for 86% of trading days at an impact cost of less than 1.6%.
The base period for the index is the close of price on Nov 3 1996, which makes one year
of completion of operation of NSE’s capital market segment. The base value of the index has
been set at 1000.
NSE-MIDCAP INDEX
The NSE madcap index or the junior nifty comprises 60 stocks that represent 21st board
industry groups and will provide proper representation of the midcap segment of the Indian
capital market. All stocks in the Index should have market capitalization of grate than Rs.200 crs
and should have traded 86% of the trading days at an impact cost of less than 2.6%.
The base period for the index is Nov 4 1996, which signifies 2 years for completion of
operations of the capital market segment of the operations. The base value of the Index has been
set at 1000.
Average daily turn over of the present scenario 268212 (Laces) and number of average
daily trades 2160(Laces).
At present there are 24 stock exchanges recognized under the securities contract
(regulation Act, 1966. They are
Ahmedbad Stock Exchange

Bangalore Stock Exchange
Bhubaneswar Stock Exchange
Calcutta Stock Exchange
Cochin Stock Exchange
Coimbatore Stock Exchange
Delhi Stock Exchange
Guwahati Stock Exchange
Hyderabad Stock Exchange
Indore Stock Exchange
Jaipur Stock Exchange
Kanpur Stock Exchange
Ludhiana Sock Exchange
Madras Stock Exchange
Magadh Stock Exchange
Mangalore Stock Exchange
Pune Stock Exchange
Uttar Pradesh Exchange Assoc ltd
Saurashtra Sock Exchange
Vadodhara Stock Exchange
NSE
OTCEI
Inter connected Stock Exchange
PROFILE OF BROKING HOUSE IN THE STOCK MARKET

KOTAK SECURITIES:
Kotak securities ltd is India leading stock broking house with a market share of close to 9% as on 31
march 2007. kotak securities ltd has been the largest in IPO distribution.
The company has a full fledged research division involved in macro economic studies sect oral research
and company specific equity research combined with a strong and well networked sales force which helps
deliver current and up to date market information and news
Kotak securities ltd is also a depository participant with national securities depository limited and central
depository service limited .providing dual benefits services where in the investor can use the brokerage
services of the company for executing the transactions and the depository service for settling them.
Kotak securities have 813 outlets servicing more than 315000 customers and a coverage of 277 cities.
Kotak securities com the online division of kotak securities limited offers internet broking services and
also online IPO and mutual fund investment
A Kotak security limited manages assets around 2300 crores of assets under management. The portfolio
management service provides top class service catering to the high end of the market. Portfolio
management from kotak securities comes as an answer to those who would like to grow from
exponentially on the crest of the stock market, with the backing of an expert.
Sharekhan, the retail broking arm of SSKI group and one of the largest stock broking house in the country
has won the prestigious awaaz consumer vote awards 2005 for the most preferred stock broking brand in
India, in the investment advisors category
Share khan equity related services include trade execution on BSE,NSE derivatives commodities
depository services online trading and investment advice ,.sharekhan online trading and investment site
www.sharekhan.com was launched in 2000 . Sharekhan Bag round network includes over 250 centres
across 123 cities in India and having around 120000 customers and equal number of demat customers.
Sharekhan won the award by vote of customer around the country, as part of India largest consumer study
cover 7000 respondents 21 product and service across 21 major cities. the study initiated by awaaz India
first dedicated consumer channel and member of the world wide CNBC network and ac Nielsen org marg
was aimed at understanding the brand preference of the consumer and to decipher what are the most
important loyalty criteria for the consumer in each vertical
In order to select the award recipient spontaneous responses rather than prompted responses were
garnered with an intention to glean unbiased preferences.
The reason behind the preferences for brands were unveiled by examines the following:
• Tangible features of product /service
• Softer, intangible features like imagery, equity driving preference
• Tactical measures such as promotional /pricing schemes
ABOUT THE COMPANY
Share Khan Limited, a flagship broking firm in the share market,

is structured into strategic businesses —Equities, Share,
Commodities and Mutual funds are in this firm. The head office of
Share Khan is in the Mumbai, this is one of the branches in the Pune.
This is only Share and Equity broking firm in India. This is not only
Share but bulk of the commodities, Mutual funds. Share khan give to
more information how to invest in the share market, which types
more earn money in the through the share market.
Established in 1958, Share Khan commissioned its shares and

equities at Satara Road, Pune in 1962 and has today grown to become
the country’s largest integrated share transfer and ranks among the
top quartile of low broking intra day and delivery charges in the
world.
With a strategic intent to achieve vertical integration in the share

business, Share Khan acquired two captive markets in Nifty, BSE and
NSE.
MEANS OF FINANCING
Financing a company through the sale of stock in a company is known as equity financing.
Alternatively, debt financing (for example issuing bonds) can be done to avoid giving up shares of
ownership of the company. Unofficial financing known as trade financing usually provides the major part
of a company's working capital (day-to-day operational needs). Trade financing is provided by vendors
and suppliers who sell their products to the company at short-term, unsecured credit terms, usually 30
days. Equity and debt financing are usually used for longer-term investment projects such as investments
in a new factory or a new foreign market. Customer provided financing exists when a customer pays for
services before they are delivered, e.g. subscriptions and insurance
MARKET SHARE ANALYSIS

OTHER BENEFITS OF INVESTING IN SHARES?
Because they can make big money on it. Compared to your investments in fixed deposits in banks it
makes more profits, but the bad news is that you are also expected to bear the losses, if any.
 1) Possibility of high returns

 2) Easy liquidity
 3) Unbeatable tax benefits
 4) Income from dividends
SO HOW DOES ONE BUY SHARES?
. There are basically two ways in which you can invest in shares:
 Purchase shares from

The primary market
(I.e. IPO's)
 Trade in the
Secondary
Market, i.e.
Stock exchanges
They are selected by the Index committee.
Some of the criteria they follow include:
1) Market capitalization.
2) Liquidity.
3) Continuity.
4) Industry representation.
5) Listed history
COMPUTATION OF STOCK INDEX:
A stock market may either be a price index or a wealth index. In India most of the indices are
using wealth index for computation of stock market.
Company No. of Market Price on Market cap Market Price on Market cap
shares 09/02/06 (Rs.) 18/02/06 (Rs.)
TATA 10 20/- 200/- 30/- 300/-
INFOSYS 20 30/- 600/- 40/- 800/-
IBM 20 100/- 2000/- 150/- 3000/-

TOTAL 2800/- 4100/-
MARKET
CAP
Face value=Rs.10/-
Base value=100/-
Index present value=
(100*4100)/2800= 146.428
The India Infoline group, comprising the holding company, India

Infoline Limited and its wholly-owned subsidiaries, straddle the
entire financial services space with offerings ranging from Equity
research, Equities and derivatives trading, Commodities trading,
Portfolio Management Services, Mutual Funds, Life Insurance, Fixed
deposits, GoI bonds and other small savings instruments to loan
products and Investment banking. India Infoline also owns and
manages the websites http://www.indiainfoline.com/and
http://www.5paisa.com/
The company has a network of 758 business locations (branches and

sub-brokers) spread across 346 cities and towns. It has more than
800,000 customers
India Infoline Limited is listed on both the leading stock exchanges

in India, viz. the Stock Exchange, Mumbai (BSE) and the National
Stock Exchange (NSE) and is also a member of both the exchanges.
It is engaged in the businesses of Equities broking, Wealth Advisory
Services and Portfolio Management Services. It offers broking
services in the Cash and Derivatives segments of the NSE as well as
the Cash segment of the BSE. It is registered with NSDL as well as
CDSL as a depository participant, providing a one-stop solution for
clients trading in the equities market. It has recently launched its
Investment banking and Institutional Broking business.
Bonanza is a leading Financial Services & Brokerage House with
acknowledged industry Leadership in execution and clearing services
on Exchange Traded Derivatives and cash market products.
Key elements that place Bonanza amongst the leading Brokerage

Houses and make it the preferred service provider for value based
financial services are:
• A Client-driven foundation and strategy committed to client-specific investment needs

and objectives.
• Integrated and innovative use of Technology enabling clients to trade offline,online and
Strategic tie-ups with latest technology partners to facilitate trading access and direct
processing across more than 900 Branches spread over 310 cities .
• Client-focused philosophy backed by memberships of all principal Indian Stock and
Commodity Exchanges makes Bonanza a preferred service provider in the Industry for
value based services.
Bonanza confidently steers you through a challenging Financial and
Trade Market every moment, whether you are present or not!
EQUITY
Being a member of the National Stock Exchange (NSE), Bombay

Stock Exchange (BSE) and dealer with Over the Counter Exchange of
India (OTCEI) we handle your trading needs, through a network of
experienced dealers across the country, and through our
comprehensive website.
US The Karvy group was formed in 1983 at Hyderabad, India. Karvy ranks among the top player in
almost all the fields it operates. Karvy Computershare Limited is India’s largest Registrar and Transfer
Agent with a client base of nearly 500 blue chip corporates, managing over 2 crore accounts. Karvy Stock
Brokers Limited, member of National Stock Exchange of India and the Bombay Stock Exchange, ranks
among the top 5 stock brokers in India. With over 6,00,000 active accounts, it ranks among the top 5
Depositary Participant in India, registered with NSDL and CDSL. Karvy Comtrade, Member of NCDEX
and MCX ranks among the top 3 commodity brokers in the country. Karvy Insurance Brokers is
registered as a Broker with IRDA and ranks among the top 5 insurance agent in the country. Registered
with AMFI as a corporate Agent, Karvy is also among the top Mutual Fund mobilizer with over Rs. 5,000
crores under management. Karvy Realty Services, which started in 2006, has quickly established itself as
a broker who adds value, in the realty sector. Karvy Global offers niche off shoring services to clients in
the US.
Karvy has 575 offices over 375 locations across India and overseas at Dubai and New York. Over 9,000
highly qualified people staff Karvy.
ABOUT EMKAY
Emkay offers futures trading through "Emkay Corporate Services (P)

Ltd.". We have membership with two of the major Commodity
exchanges of the country.
Multi Commodity Exchange of India Ltd, Mumbai (MCX
National Commodity and Derivative Exchange, Mumbai (NCDEX
Large numbers across the country participate in the futures market

through Emkay's rapidly expanding online trading terminal network
extending to even remote areas. Local, national and international
agri-information is disseminated through the company's large branch
network. Seminars, free in house literature and interactive site
sessions raise awareness levels on the futures market. Consequently,
large numbers of informed participants enter the trading process
resulting in increased volumes and market efficiency.
OUR MISSION
To provide research driven, unbiased investment advise with the

objective of achieving sustainable superior investment returns for
our clients
To provide flawless execution support to meet diverse client needs on a platform of professionalism and
integrity.
OUR VALUES
To be fair, empathetic and responsive in serving our customers
To respect and reinforce our fellow employees and the power of

teamwork
To strive relentlessly to improve what we do and how we do it.
To always earn and be worthy of our customer's trust
THE JOURNEY
Emkay’s institutional clientele includes some of the largest players in the Fund Management business. A
partial list is provided below.
1. Birla Sun life Mutual Fund

2. Deutsche Asset Mgt (India) Pvt. Ltd
3. Franklin Templeton Mutual Fund
4. HDFC Standard Life Mutual Fund
5. Prudential ICICI Mutual Fund
6. TATA Mutual Fund
Emkay has considerable strength and Domain Knowledge in the booming Derivatives market
1. The first Sensex Futures Contract was executed by Emkay on June 09, 2000.
2. Mr... Prakash Kacholia, Director of Emkay was a member of the first Governing council on
derivatives segment of BSE.
3. He has been the moving spirit behind India’s first EXCHANGE TRADED FUND named SPICE
based on the BSE SENSEX launched by Prudential ICICI MF
COMMODITY FUTURES TRADING THROUGH:
COMMODITY MARKET
India has a deep ingrained knowledge in commodity

trading (and particularly forward trading in
commodities), especially in the interior heartland. For
last 40 years or so, such forward (futures) trading was
banned in the country for a variety of reasons and it is
being revived now. The ban has meant that two
generations have lost touch with the trading skills and
the related knowledge levels in the commodity space.
Fortunately much of the skill sets have migrated to
stock exchanges.
In these intervening years, some regional exchanges

specializing in specific commodities, where the bans
were lifted, have carried on the baton. Also large
informal trading, primarily by the speculative segment
of the universe of market participants has remained.
This has led to a mindset in the common man in the
country that commodity exchanges are purely
speculative in nature. The hedging and price discovery
functions that they perform are largely ignored today
by the cross section of the population.
Our endeavor is to reach to the producers, end-users,

and even the retail investors, at a grassroots level.
Education and awareness has a key role to play in
achieving this vision
WHY COMMODITY MARKET?
Commodity derivatives records high volumes in the

markets the world over compared to equity derivatives.
In an era where risks to investments are on the rise and
India being predominantly an agrarian economy, needs
to switch to commodity derivatives to top the list of
developed nations.
UNDERSTANDING THE COMMODITIES MARKETS
Indian markets have recently thrown open a new avenue for retail
investors and traders to participate: commodity derivatives. For
those who want to diversify their portfolios beyond shares, bonds
and real estate, commodities is one of the best options.
Commodities actually offer immense potential to become a separate

asset class for market-savvy investors, arbitrageurs and speculators.
Commodities are easy to understand and are based on the
fundamentals of demand and supply. Retail investors should
understand the risks and advantages of trading in commodities
futures before taking a leap. Historically, prices in commodities
futures have been less volatile compared with equity and bonds, thus
providing an efficient portfolio diversification option.
Like any other market, the one for commodity futures plays a valuable role in information pooling and
risk sharing. The market mediates between buyers and sellers of commodities thus making the underlying
market more liquid
Motilal Oswal Securities Ltd. was founded in 1987 as a small sub-broking unit, with just two people
running the show. Focus on customer-first-attitude, ethical and transparent business practices, respect for
professionalism, research-based value investing and implementation of cutting-edge technology has
enabled us to blossom into an almost 2000 member team.
Today we are a well diversified financial services firm offering a range of financial products and services
such as
• Wealth Management
• Broking & Distribution
• Commodity Broking
• Portfolio Management Services
• Institutional Equities
• Private Equity
• Investment Banking Services and
• Principal Strategies
We have a diversified client base that includes retail customers (including High Net worth Individuals),
mutual funds, foreign institutional investors, financial institutions and corporate clients. We are
headquartered in Mumbai and as of June 30, 2008, had a network spread over 450 cities and towns
comprising 1,496 Business Locations operated by our Business Partners and us. As at June 30, 2008, we
had 486,648 registered customers.
In 2006, the Company placed 9.48% of its equity with two leading private equity investors based out of
the US – New Vernon Private Equity Limited and Bessemer Venture Partners.
The company got listed on BSE and NSE on September 9, 2007. The issue which was priced at Rs.825
per share (face value Rs.5 per share) got a overwhelming response and was subscribed 27.18 times in
turbulent market conditions. The issue gave a return of 21% on the date of listing.
As of end of financial year 2008, the group networth was Rs.7 bn and market capitalization as of March
31, 2008 was Rs.19 bn.
For year ended March 2008, the company showed a strong top line growth of 91% to Rs.7 bn as
compared to Rs.3.68 bn, last year. New businesses like investment banking, asset management and fund
based activities have contributed to this growth.
Rs. Crores FY 2007- 08 Growth (YoY)
Total Revenues 701 91%
EBIDTA 270 97%
PAT 156 100%
Credit rating agency Crisil has assigned the highest rating of P1+ to the Company’s short-term debt
program.
Shareholding Pattern at on June 30, 2008
As of 30th June, 2008; the total shareholding of the Promoter and Promoter Group stood at 70.37%. The
shareholding of institutions stood at 9.78% and non-institutions at 12.26%.
OUR BUSINESS STREAMS

Our businesses and primary products and services are:
WEALTH MANAGEMENT
Financial planning for individual, family and business wealth creation and management needs. These are
provided to customers through our Wealth Management service called ‘Purple’
BROKING & DISTRIBUTION SERVICES
• Equity (cash and derivatives)

• Commodity broking
• Distribution of financial products
• Financing
• Depository Services
• IPO distribution
We offer these services through our branches, Business Partner locations, the internet and mobile
channels. We also have strategic tie-ups with State Bank of India and IDBI Bank to offer our online
trading platform to its customers.
COMMODITY BROKING
Through Motilal Oswal Commodities Broker (P) Ltd our fully owned subsidiary; we provide commodity
trading facilities and related products and services on MCX and NCDEX. Besides access to the best of
research in the form of Daily Fundamentals & Technical Reports on highly traded commodities, our
clients also get access to our exclusive Customized Trading Advice on both the trading platforms. We
offer these services through our branches, Business Partner locations, the internet and mobile channels
PORTFOLIO MANAGEMENT SERVICES

Motilal Oswal Portfolio Management Services offer a range of investments solutions through
discretionary services. We at Motilal Oswal have helped create wealth for our customers through our
Portfolio Management Services. Our knowledge of the markets together with our understanding of our
customers and their risk profiles has helped us design a range of portfolio offerings for our clients. These
include the Value PMS, Bulls Eye PMS, Trillion Dollar Opportunity and Focused Portfolio Series I. As of
June 30th, 2008, the assets under management of our various portfolio schemes stood at Rs.6.92 bn.
Motilal Oswal group has applied to the regulatory bodies for a license to operate as a Domestic Asset
Management Company (Mutual Fund) and we expect to begin operations soon.
INSTITUTIONAL EQUITIES
We offer equity broking services in the cash and derivative segments to institutional clients in India and
overseas. These clients include companies, mutual funds, banks, financial institutions, insurance
companies, and FIIs. As at March 31, 2008, we were empanelled with over 300 institutional clients
including 191 FIIs. We service these clients through dedicated sales teams across different time zones.
INVESTMENT BANKING
We offer financial advisory services relating to mergers and acquisitions (domestic and cross-border),
divestitures, restructurings and spin-offs through Motilal Oswal Investment Advisors Private Ltd.
(MOIAPL)
We also offer capital raising and other investment banking services such as the management of public
offerings, private placements (including qualified institutional placements), rights issues, share buybacks,
open offers/delistings and syndication of debt and equity.
MOIAPL has closed 23 transactions in 2007-08 worth US$ 1.8 billion and had 18 mandates in hand as at
March 31, 2008.
PRIVATE EQUITY
In 2006, our private equity subsidiary, Motilal Oswal Venture Capital Advisors Private Ltd (MOVCAPL)
was appointed as the investment manager and advisor to a private equity fund, India Business Excellence
Fund, which was launched with a target of raising US$100 mn. The fund is aimed at providing growth
capital to small and medium enterprises in India, with investments typically in the range of US$3 mn to
US$7 mn.
MOVCAPL will manage and advise the fund and other private equity funds, which may be raised in the
future. In its final closing, in December 2007, the fund obtained commitments of US$125 mn (Rs.4,875
mn) from investors in India and overseas. The Fund has deployed/ committed $ 58 mn across 8 deals.
MOVCAPL has recently launched an INR 750 crores domestic Real Estate Private Equity Fund called
“India Realty Excellence Fund” sponsored by Motilal Oswal Financial Services Ltd.
PRINCIPAL STRATEGIES GROUP
For effective management of treasury operations and to capitalize on market opportunities, the Group has
set up a 30 member team which would be responsible for effective deployment of funds into different
trading and arbitrage strategies.
FOCUS ON RESEARCH
Research is the solid foundation on which Motilal Oswal Securities advice is based. Almost 10% of
revenue is invested on equity research and we hire and train the best resources to become advisors. At
present we have 28 equity analysts researching over 27 sectors. From a fundamental, technical and
derivatives research perspective; Motilal Oswal's research reports have received wide coverage in the
media (over a 1000 mentions last year). Our consistent efforts towards quality equity research has
reflected in an increase in the ratings and rankings across various categories in the AsiaMoney Brokers
Poll over the years
Our unique Wealth Creation Study, authored by Mr. Raamdeo Agrawal, Managing Director, is now in its
13th year. Investors keenly await this annual study for the wealth of information it has on the companies
that created wealth during the preceding five years.
STRONG MANAGEMENT TEAM
The organization finds its strength in its team of young, talented and
confident individuals. Qualified professionals carry out different
functions under the able leadership of its promoters, Mr. Motilal
Oswal and Mr. Raamdeo Agrawal. Our talented pool of people
comprises qualified and experienced professionals with an
established track record. We believe that our management's
entrepreneurial spirit, strong technical expertise, leadership skills,
insight into market/customer needs provide us with a competitive
strength which will help us implement our business
Religare Enterprises Limited (REL), is one of the leading integrated financial services groups of India.
REL’s businesses are broadly clubbed across three key verticals, the Retail, Institutional and Wealth
spectrums, catering to a diverse and wide base of clients.
REL offers a multitude of investment options and a diverse bouquet of financial services and has a pan
India reach in more than 1550 locations across more than 460 cities and towns.
As part of its recent initiatives, the group has also started expanding globally and has acquired London’s
oldest brokerage & investment firm, Hichens, Harrison & Co. plc. Following this acquisition Religare
now proposes to operate out of 10 countries. With a view to expand, diversify and introduce offerings
benchmarked against global best practices, Religare has entered into joint ventures with the global major-
Aegon for its Asset Management and Life Insurance businesses in India.
Religare’s wealth management subsidiary is now rechristened as Religare Macquarie Wealth
Management Limited, following a joint venture with the Australia based financial services major,
Macquarie Bank. Religare has also partnered with Vistaar Entertainment to launch India’s first Film
Fund.
The vision is to build Religare as a globally trusted brand in the financial services domain and present it
as the ‘Investment Gateway of India’. All employees of the group guided by an experienced and
professional management team are committed to providing financial care, backed by the core values of
diligence and transparency.
OUR GROUP STRUCTURE

Religare Enterprises Limited
Religare Securities Limited -
• Equity Broking
• Depository
• Online Investment Portal
• Institutional Equity Broking
Religare Finevest Limited-
• Lending and Distribution business
Religare Commodities Limited –
• Commodity Business
Religare Insurance Broking Limited -
• Life and Non Life Insurance

• Reinsurance
Religare Capital Markets Limited
• Investment Banking
• SEBI Registered Merchant Banker
• Acquisition in UK through an international arm
Religare Arts Initiative Limited
• Art Fund and other businesses of Art

• Gallery to be launched soon
Religare Realty Limited –

• Real Estate Management Company
Religare Venture Capital Private Limited
• Private Equity and Investment Manager
Religare Macquarie Wealth Management Limited
• 50: 50 joint ventures with Macquarie for wealth management business
Religare AEGON AMC -
• 50:50 Joint Venture between REL and Aegon for Asset Management business in India
AEGON Religare Life Insurance -
• Life Insurance Company, Joint Venture between REL, Aegon and BCCL for Life insurance
business in India
•
EQUITY & DERIVATIVES
Trading in Equities with Religare truly empowers you for your

investment needs. We ensure you have a superlative trading
experience through -
• A highly process driven, diligent approach
• Powerful Research & Analytics and
• One of the “best in class” dealing rooms
Further, Religare also has one of the largest retail networks, with its
presence in more than 1300 locations across more than 400 towns &
cities. This means, you can walk into any of these branches and
connect to our highly skilled and dedicated relationship managers to
get the best services.
How will we make trading easier and better?

Personal Assistance
• Dedicated Relationship Managers

• Dedicated dealers who facilitate trading and serve your post trade needs
INVESTMENT PHILOSOPHY
We believe that our investors are better served by a disciplined

investment approach, which combines an understanding of the goals
and objectives of the investor with a fine tuned strategy backed by
research.
• Stock specific selection procedure based on fundamental

research for making sound investment decisions.
• Focus on minimizing investment risk by following rigorous
valuation disciplines.
• Capital preservation.
• Selling discipline and use of Derivatives to control volatility.
• Overall to enhance absolute return for investors.
OUR SCHEMES
PANTHER
The Panther portfolio aims to achieve higher returns by taking

aggressive positions across sectors and market capitalizations. It is
suitable for the “High Risk High Return” investor with a strategy to
invest across sectors and take advantage of various market
conditions.
TORTOISE
The Tortoise portfolio aims to achieve growth in the portfolio value
over a period of time by way of careful and judicious investment in
fundamentally sound companies having good prospects. The scheme
is suitable for the “Medium Risk Medium Return” investor with a
strategy to invest in companies which have consistency in earnings,
growth and financial performance.
ELEPHANT
The Elephant portfolio aims to generate steady returns over a longer

period by investing in Securities selected only from BSE 100 and
NSE 100 index. This plan is suitable for the “Low Risk Low Return”
investor with a strategy to invest in blue chip companies, as these
companies have steady performance and reduce liquidity risk in the
market.
CATERPILLAR
The Caterpillar portfolio aims to achieve capital appreciation over a

long period of time by investing in a diversified portfolio. This
scheme is suitable for investors with a high risk appetite. The
investment strategy would be to invest in scrips which are poised to
get a re-rating either because of change in business, potential fancy
for a particular sector in the coming years/months, business
diversification leading to a better operating performance, stocks in
their early stages of an upturn or for those which are in sectors
currently ignored by the market.
LEO
Leo is aimed at retail customers and structured to provide medium to

long-term capital appreciation by investing in stocks across the
market capitalization range. This scheme is a mix of moderate and
aggressive investment strategies. Its aim is to have a balanced
portfolio comprising selected investments from both Tortoise and
Panther. Exposure to Derivatives is taken within permissible
regulatory limits.
INVESTMENT BANKING
We provide innovative, integrated and best-fit solutions to our
corporate customers. It is our continuous endeavor to provide value
enhancement through diverse financial solutions on an ongoing
basis, through offerings like Corporate Debt, Private Equity, IPO,
ECB, FCCB, GDR/ADR etc.
Investment Banking with Religare offers the following services:
CORPORATE FINANCE
We focus on finding right and relevant partners for our clients, who
not only help in adding value but also improve the future valuation
of the organization. We specialize in structured financing and
providing advisory services related to financial planning, modeling
and advising on financial requirements.
MERCHANT BANKING
• IPO/FPO/RIGHTS
• Mergers & Acquisitions
• Corporate Advisory Services
• ADR/GDR/FCCB
• BUY BACK OF SHARE
ABOUT INDIABULLS
Indiabulls is India’s leading Financial Services and Real Estate company having over 640 branches all
over India. Indiabulls serves the financial needs of more than 4,50,000 customers with its wide range of
financial services and products from securities, derivatives trading, depositary services, research &
advisory services, consumer secured & unsecured credit, loan against shares and mortgage & housing
finance. With around 4000 Relationship Managers, Indiabulls helps its clients to satisfy their customized
financial goals. Indiabulls through its group companies has entered Indian Real Estate business in 2005. It
is currently evaluating several large-scale projects worth several hundred million dollars.
“Indiabulls Financial Services Ltd is listed on the National Stock
Exchange, Bombay Stock Exchange and Luxembourg Stock Exchange.
The market capitalization of Indiabulls is around USD 6,300 million
(31st December, 2007). Consolidated net worth of the group is
around USD 905 million (31st December, 2007). Indiabulls and its
group companies have attracted more than USD 800 million of equity
capital in Foreign Direct Investment (FDI) since March 2000. Some
of the large shareholders of Indiabulls are the largest financial
institutions of the world such as Fidelity Funds, Goldman Sachs,
Merrill Lynch, Morgan Stanley and Farallon Capital.
Business of the company has grown in leaps and bounds since its inception. Revenue of the company
grew at a CAGR of 159% from FY03 to FY07. During the same period, profits of the company grew at a
CAGR of 184%.
Indiabulls became the first company to bring FDI in Indian Real Estate through a JV with Farallon
Capital Management LLC, a respected US based investment firm. Indiabulls has demonstrated deep
understanding and commitment to Indian Real Estate market by winning competitive bids for landmark
properties in Mumbai and Delhi.”
Indiabulls Financial Services Ltd
Last traded 250.00 Change 18.55 (8.01%)
Time 29 Aug, 16:01 Volume 3300365
Prev Close 231.45 Day 's H/L (Rs) 255.50 - 238.00
Mkt Cap (Rs Cr) 6337.50 52wk H/L (Rs) 1028.00 - 213.00
HOW HOT IS THIS STOCK?

Price*
Volume*
MF holdings
Sales
Net profit margin
*
Computed on last 15 days' trading figures.
INDIABULLS FINANCIAL SERVICES LTD. VS...
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MUTUAL FUND
Assets Under management as on 31st July 2008
Assets Under management as on 31st July 2008
The Indian mutual fund industry saw an increase in growth with assets under management (AUM) rising
to Rs.18,724 crore. As per the numbers released by the Association of Mutual Funds in India, the industry
asset base for July 2008 stood at Rs. 5,40,623 crore, an increase of 3.59% over Rs. 5,21,899 crore in June
2008. On a year-on-year basis, the industry’s growth in assets has been 11%, up from Rs. 4, 86,513.71
crore as of July 2007. In the month of July 2008, the top three funds witnessed a rise in the AUM
including ABN Canara Robeco Mutual Fund (16.36%), JP Morgan Mutual Fund (15.02%) and ABN
AMRO Mutual Fund (14.9%).Net inflow in Mutual Fund is Rs. 9,699 crore.
ABOUT US
AnandRathi is a leading full service securities firm providing the entire gamut of financial services. The
firm, founded in 1994 by Mr. AnandRathi, today has a pan India presence as well as an international
presence through offices in Dubai and Bangkok. AR provides a breadth of financial and advisory services
including wealth management, investment banking, corporate advisory, brokerage & distribution of
equities, commodities, mutual funds and insurance, structured products - all of which are supported by
powerful research teams.
The firm's philosophy is entirely client centric, with a clear focus on providing long term value addition to
clients, while maintaining the highest standards of excellence, ethics and professionalism. The entire firm
activities are divided across distinct client groups: Individuals, Private Clients, Corporates and Institutions
and was recently ranked by Asia Money 2006 poll amongst South Asia's top 5 wealth managers for the
ultra-rich.
In year 2007 Citigroup Venture Capital International joined the group as a financial partner
BROKERAGE & DISTRIBUTION

Equity & Derivatives Brokerage
AnandRathi provides end-to-end equity solutions to institutional and individual investors. Consistent
delivery of high quality advice on individual stocks, sector trends and investment strategy has established
us a competent and reliable research unit across the country.
Clients can trade through us online on BSE and NSE for both equities and derivatives. They are supported
by dedicated sales & trading teams in our trading desks across the country. Research and investment ideas
can be accessed by clients either through their designated dealers, email, web or SMS.
MUTUAL FUNDS
AR is one of India's top mutual fund distribution houses. Our success lies in our philosophy of providing
consistently superior, independent and unbiased advice to our clients backed by in-depth research. We
firmly believe in the importance of selecting appropriate asset allocations based on the client's risk
profile.
We have a dedicated mutual fund research cell for mutual funds that consistently churns out superior
investment ideas, picking best performing funds across asset classes and providing insights into
performances of select funds.
DEPOSITORY SERVICES
AR Depository Services provides you with a secure and convenient way for holding your securities on
both CDSL and NSDL.
Our depository services include settlement, clearing and custody of securities, registration of shares and
dematerialization. We offer you daily updated internet access to your holding statement and transaction
summary.
CDSL Depository
NSDL Depository
COMMODITIES
Commodities broking- A whole new opportunity to hedge business risk and an attractive investment
opportunity to deliver superior returns for investors .
Our commodities broking services include online futures trading through NCDEX and MCX and
depository services through CDSL. Commodities broking is supported by a dedicated research cell that
provides both technical as well as fundamental research. Our research covers a broad range of traded
commodities including precious and base metals, Oils and Oilseeds, agri-commodities such as wheat,
chana, guar, guar gum and spices such as sugar, jeera and cotton.
In addition to transaction execution, we provide our clients customized advice on hedging strategies,
investment ideas and arbitrage opportunities.
INSURANCE BROKING
As an insurance broker, we provide to our clients comprehensive risk management techniques, both
within the business as well as on the personal front. Risk management includes identification,
measurement and assessment of the risk and handling of the risk, of which insurance is an integral part.
The firm deals with both life insurance and general insurance products across all insurance companies.
Our guiding philosophy is to manage the clients' entire risk set by providing the optimal level of cover at
the least possible cost. The entire sales process and product selection is research oriented and customized
to the client's needs. We lay strong emphasis on timely claim settlement and post sales services.
Our services
• Risk Management
• Due diligence and research on policies available
• Recommendation on a comprehensive insurance cover based on clients needs
• Maintain proper records of client policies
• Assist client in paying premiums
• Continuous monitoring of client account
Assist client in claim negotiation and settlement
IPO’s
We are a leading primary market distributor across the country. Our strong performance in IPOs has been
a result of our vast experience in the Primary Market, a wide network of branches across India, strong
distribution capabilities and a dedicated research team
We have been consistently ranked among the top 10 distributors of IPOs on all major offerings. Our IPO
research team provides clients with indepth overviews of forthcoming IPOs as well as investment
recommendations. Online filling of forms is also available.
INVESTMENT BANKING
AR Investment Banking provides comprehensive services to clients including raising money in the equity
capital markets to identifying strategic alliances, mergers and acquisition opportunities and debt financing
& restructuring advisory.
Corporate Finance
The AR Corporate Finance team helps clients manage their debt-financing needs by profiling business
and cash-flow risks, defining the alternative sources of funding , building in multiple variables such as
currencies, fixed-floating, tenure, collateral etc. in a comprehensive manner and finally negotiating with
the prospective lenders / buyers.
The team has also built an impressive track-record in debt restructuring based on its superior
understanding of business needs and relationships with key lenders.
The Corporate Finance team has handled assignments in businesses like paper, hospitality, telecom,
textiles and sugar.
CHAPTER 4
COMPANY PROFILE
Stock Broking business of the group was started in 1995, promoted by professional entrepreneurs
and incubated by the Shriram Group through its entity, Shriram Insight Share Brokers Ltd.
Stock Broking business commenced operations with a corporate membership in NSE in the cash
segment in 1996. Membership in the derivatives segment in the NSE was acquired in 2003.
The Business has expanded into the commodities market with a trading-cum-clearing
membership in the Multi Commodity Exchange (MCX) and the National Commodities and
Derivatives Exchange (NCDEX) through a 100% subsidiary.Stock Broking business is firmly
focused in the rapidly growing High Networth Individual (HNI) and Retail space. Member:
National Stock NSE SEBI Reg. No. : NSE-CM [INB 230947033] | BSE-CM [INB 010947035] ||
NSE-F&O [INF 230947033] ,DP [IN-DP-CDSL-293-2005] ,MCX [Membership No: 10115] |
The business has an active client base of over 1,50,000.The business operates through 1000
branches with equal no. of trading terminals. The business model of Stock Broking largely
focused on owned branches in the initial years and has now graduated into the franchisee mode
of expansion that will cater to PAN India target market. Rapid expansion has been made possible
in this two-pronged strategy of owned and franchised outlets and is expected to have an end-state
distribution, networking over 3000 branches. As the business starts targeting the next level of
mass affluent customers, expanding into wealth management and advisory space, same would
also become a key thrust area that can potentially enhance profitability and shareholder value in
the medium term.
Shiram Insight Logo:
Shiram Insight slogan
About Shiram Insight

The Group has also made investments in Manufacturing, Value Added Services, Project
Development, Engineering Services, Pharmaceuticals, Machined & Auto Components, Press
Dies & Sheet Metal Stamping, Packaging, Information Technology, Property Development etc.
Genesis of the Shriram phenomenon

The 30,000 Cr Shriram Group had its humble beginnings in the Chit Fund business over three
decadesago. R Thyagarajan, AVS Raja and T Jayaraman were the “three musketeers” who
ventured into these businesses. Not many in the financial services industry thought at that time,
this small Chit Funds business in Chennai would indeed be the foundation for the financial
conglomerate that Shriram is today.
The Shriram Way!
Shriram Group’s businesses strive to serve the largest number of common people. Consider
these: Commercial Vehicle Financing, Consumer & Enterprise Finance, Retail Stock Broking,
Life Insurance, Chit Funds and Distribution of Investment & Insurance Products. Our foray into
Non-Life (General) Insurance is again a strong expression of this commitment.
About Founder
Mr.R Thyagarajan, Founder

Chairman of the Shriram Group of Companies - Promoted the Shriram Group Companies in
1974. Today the group has over 15, 000 employees and operating through 700 locations and
manage funds of over 15,000 Crores in the business of financial services including life insurance
and general insurance.
• Masters in Mathematics
• Masters in Mathematical Statistics from Indian Statistical Institute
• Associate of Chartered Insurance Institute (A.C.I.1), London
• Visiting faculty of Asian Institute of Insurance, Philippines on Consequential Loss Insurance.
By inculcating the philosophy of “putting people first”, he has transformed the Shriram Group
into India’s Premier Networked Financial Services Supermarket Chain. The Network Shriram
comprises over 650 Branches and Service Centers, served by more than 6000 employees and
60,000 agents committed to ensuring world-class customer service. The Group’s aggregate
turnover exceeds Rs. 5000 crores.
Shiram Insight Milestones
Year Milestone
1974 Commencement of Business - Shriram Chits
1979 Commencement of Business - Shriram Transport Finance Co (STFC)
1982 Commencement of Business - Shriram Investments Ltd
1984 IPO of STFC
1986 Commencement of Business - Shriram City Union Finance Co (SCUF)
1988 IPO of SCUF
1989 Commencement of Business - Shriram Overseas Finance Ltd
1995 Commencement of Business- Shriram Properties Pvt Ltd
1999 Commencement of Business - Shriram Insight Share Brokers Ltd
1999 Citicorp CV financing tie up with STFC
2000 Commencement of Business - Shriram EPC Ltd
2000 Commencement of Business - TAKE Solutions Ltd
2004 Commencement of Business - Shriram Capital Ltd
2005 Entry of Chryscapital as Partner with STFC & EPC
2005 Entry of Sanlam as Life Insurance business partner and commencement of business-
Shriram Life Insurance Co
2006 Merger of Shriram Investments Ltd & Shriram Overseas Finance Ltd with STFC
2006 Commencement of Business - Shriram Fortune Solutions Ltd
2006 Commencement of Business - Shriram Value Services
2006 Entry of TPG as STFC's partner
2007 Shriram EPC's JV with Leitner Technologies for Manufacture of wind turbines
2007 EPC's foray into Air Pollution Control with Hamon through JV
2007 Orient Green Power was founded by Shriram EPC
2007 IPO of TAKE Solutions Ltd
2008 Commencement of Business - Shriram General Insurance Ltd
2008 IPO of Shriram EPC Ltd
2009 NCD Placement of Rs 10 Bn by STFC
2010 IPO of Orient Green power
Industrial Investments
Non-Finanical service:-
Shriram Group has always encouraged entrepreneurship by demonstrating continuous apetite for
investing in start-up manufacturing business.
Our Investment
Shiram group Services

Financial Services :-
Helping Create Wealth. Empowering people through prosperity. Resulting in inclusive growth.
The relentless pursuit of this mission, since our inception in 1974 has given the Shriram Group
our raison d'être and our distinct identity. The Group’s reputation for effectiveness, transparency
and integrity has helped it to become one of India’s largest Financial Services Network.The
Group’s Financial Services Businesses manage assets exceeding Rs.40,000 crores, has 6.5
million clients, served by 1,00,000 Agents and 36,000 employees, through 2700 Branches across
India.Our core financial services businesses are housed under the holding company Shriram
Capital Ltd:
 Commercial Vehicle Finance
 Life Insurance
 General Insurance
 Consumer & Enterprise Finance
 Financial Product Distribution
 Retail Stock Broking
 Chit Funds
Non-Financial Services:-
Shriram Group has always encouraged entrepreneurship by demonstrating continuous apetite for
investing in start-up manufacturing business.
Our Investment
Services offered from Shiram Insight

Governing Board:-
Board Of Directors
Arun Duggal
Mr. Arun Duggal is an experienced international banker and has advised companies on financial
strategy, M&A and capital raising.
He is Chairman of Board of Directors of Shriram, Shriram Properties Limited, Shriram City

Union Finance Limited and Shriram EPC Limited. He is the Vice Chairman of International
Asset Reconstruction Company. He is on the Board of Directors of Jubilant Energy NV., Patni
Computers (Chairman - Audit Committee), Fidelity Fund Management, LNG Petronet (Nominee
Director of Asian Development Bank), Manipal Acunova, Zuari Industries, Info Edge (India),
Dish TV India , Mundra Port & SEZ, and Hertz (India). Mr. Duggal is Advisor to IMA (formerly
Economist Intelligence Unit, India). He is a member of the Investment Committee of Axis
Private Equity. He was on the Board of Governors of the National Institute of Bank
Management. He is a Board Member and erstwhile Chairman of the American Chamber of
Commerce, India. Mr. Duggal is involved in several initiatives in social sector. He is a founder
Director of Bellwether Microfinance Fund which provides equity capital to promising Micro
Finance organizations and helps them in capacity building. He is a Trustee of Centre for Civil
Society. New Delhi, which focuses on improving the quality and access of education to students
especially for the poor. He is Senior Advisor (Asia Pacific ) to Transparency International Berlin,
which is undertaking a number of initiatives to combat corruption problem around the world. Mr.
Duggal had a 26 years career with Bank of America, mostly in the U.S. Hong Kong and Japan.
His last assignment was as Chief Executive of Bank of America in India from 1998 to 2001. He
spent ten years (1981-1990) with the New York Corporate Office of Bank of America handling
multinational relationships. From 1991-1994 as Chief Executive of Bank of America Asia
Limited, Hong Kong he looked after Investment Banking activities for the Bank in Asia. In 1995
he moved to Tokyo as the Regional Executive, managing Bank of America 's business in Japan,
Australia and Korea. From 2001 to 2003 he was Chief Financial Officer of HCL Technologies,
India. A Mechanical Engineer from the prestigious Indian Institute of Technology, Delhi, Mr.
Duggal holds an MBA from the Indian Institute of Management, Ahmedabad. He teaches
Banking & Finance at the Indian Institute of Management, Ahmedabad as a visiting Professor.
 R.Sridhar (Managing Director)
 Adit Jain
 S.Venkatakrishnan
 Maya Shanker Verma
 Mukund Manohar Chitale
 Puneet Bhatia
 Ranvir Dewan
 Sumatiprasad M. Bafna
 S.Lakshminarayanan
CHAPTER- 5
THEORETICAL FRAME WORK

Rules and Regulations
The Government has framed rules under the Securities Contract (Regulation) Act SC(R)A, SEBI
Act and the Depositories Act. SEBI has framed regulations under the SEBI Act and the
Depositories Act for registration and regulation of all market intermediaries, for prevention of
unfair trade practices, insider trading, etc. Under these Acts, Government and SEBI issue
notifications, guidelines, and circulars, which need to be complied by the market participants.
The self-regulatory organizations (SROs) like stock exchanges have also laid down their rules
and regulations for market participants.
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. As noted earlier, the responsibility for regulating the securities
market is shared by DEA, Ministry of
Corporate Affairs, SEBI and RBI.
SEBI (Intermediaries) Regulations, 2008

One of the main functions of SEBI is to register and regulate the functioning of various types of
intermediaries and persons associated with securities market in a manner as to ensure smooth
functioning of the markets and protection of interests of the investors. These intermediaries, as
detailed in the SEBI Act are: stock-brokers, subbroker, share transfer agents, bankers to an
issue, trustees of trust deed, registrars to an issue, merchant bankers, underwriters, portfolio
managers, investment advisers, depositories, participants, custodians of securities, foreign
institutional investors, credit rating agencies, asset management companies, clearing
members of a clearing corporation, trading member of a derivative segment of a
stock exchange, collective investment schemes, venture capital funds, mutual funds,
and any other intermediary associated with the securities market.
SEBI had issued regulations governing the registration and regulatory framework for
each of these intermediaries. However, given the fact that many requirements and
obligations of most intermediaries are common, SEBI has recently consolidated these
requirements and issued the SEBI (Intermediaries) Regulations, 2008. These
regulations were notified on May 26, 2009.
These regulations apply to all the intermediaries mentioned above, except foreign
institutional investors, foreign venture capital investors, mutual funds, collective
investment schemes and venture capital funds.
The salient features of the Regulations are as under:
(a) The SEBI Regulations put in place a comprehensive regulation which is
applicable to all intermediaries. The common requirements such as grant
of registration, general obligations, common code of conduct, common
procedure for action in case of default and miscellaneous provisions are
applicable for all intermediaries.
(b) The registration process has been simplified. An applicant can file
application in the prescribed format along with additional information as
required under the relevant regulations along with the requisite fees. The
existing intermediaries may, within the prescribed time, file the
disclosure in the specified form. The disclosures are required to be made
public by uploading the information on the website specified by SEBI. The
information of commercial confidence and private information furnished
to SEBI shall be treated confidential. In the event intermediary wishes to
operate in a capacity as an intermediary in a new category, such person
may only file the additional shortened forms disclosing the specific
require ments of the new category as per the relevant regulations.
(c) The Fit and Proper criteria have been modified to make it principle based.
The common code of conduct has been specified at one place.
(d) The registration granted to intermediaries has been made permanent
unless surrendered by the intermediary or suspended or cancelled in
accordance with these regulations.
135
(e) Procedure for action in case of default and manner of suspension or
cancellation of certificate has been simplified to shorten the time usually
faced by the parties without compromising with the right of reasonable
opportunity to be heard. Surrender of certificate has been enabled
without going through lengthy procedures.
(f) While common requirements will be governed by the new regulations, the
intermediaries specific requirements will continue to be as per the
relevant regulations applicable to individual intermediaries. The relevant
regulations will be amended to provide for the specific requirements.
SEBI (Prohibition of Insider Trading) Regulations, 1992

The malpractice of ’insider trading’ affects the innocent investors. In simple terms
‘insider trading’ means selling or buying in securities on the basis of price sensitive unpublished
information of a listed corporate which if published could lead to a fall or
rise in the prices of shares of the corporate.To tackle the problem of insider trading, SEBI issued
the SEBI (Insider Trading) Regulations 1992. These regulations were further made stringent
through amendments in February 2002 and they were notified as the SEBI (Insider Trading)
(Amendment) Regulations 2002. The important definitions used in the regulations are:
(i) Dealing in securities means an act of subscribing, buying, selling or agreeing to

subscribe, buy, sell or deal in any securities by any person either as principal or agent.
(ii) Insider means any person who, is or was connected with the company or is
deemed to have been connected with the company, and who is reasonably expected
to have access to unpublished pric e sensitive information in respect of securities of a
company, or who has received or has had access to such unpublished price sensitive
information.
(iii) A connected person means any person who:
(a) is a director, as defined in clause (13) of section 2 of the Companies Act,
1956 of a company, or is deemed to be a director of that company by virtue of sub-clause (10) of
section 307 of that Act, or
(b) occupies the position as an officer or an employee of the company or holds a position
involving a professional or business relationship between himself and the company whether
temporary or permanent and who may reasonably be expected to have an access to unpublished
price sensitive information in relation to that company.
(iv) A person is deemed to be a connected person if such person:
(a) is a company under the same management or group or any subsidiary
company thereof within the meaning of section (1B) of section 370, or subsection
(11) of section 372, of the Companies Act, 1956 or sub-clause (g)
136 of section 2 of the Monopolies and Restrictive Trade Practices Act, 1969 as
the case may be; or
(b) is an intermediary as specified in section 12 of SEBI Act, 1992, Investment company, Trustee
Company, Asset Management Company or an employee or director thereof or an official of a
stock exchange or of clearing house or corporation;
(c) is a merchant banker, share transfer agent, registrar to an issue, debenture trustee, broker,
portfolio manager, investment advisor, subbroker, investment company or an employee thereof,
or, is a member of the board of trustees of a mutual fund or a member of the board of directors of
the asset management company of a mutual fund or is an employee thereof who have a fiduciary
relationship with the company;
(d) is a member of the board of directors, or an employee, of a public financial institution as
defined in Section 4A of the Companies Act, 1956;
(e) is an official or an employee of a self regulatory organisation recognised or authorized by the
Board of a regulatory body;
(f) is a relative of any of the aforementioned persons;
(g) is a banker of the company.
(h) relative of the connected person.
SEBI (Prohibition of fraudulent and Unfair Trade Practices

relating to securities market) Regulations, 2003
The SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to the Securities
Market) Regulations, 2003 enable SEBI to investigate into cases of market
manipulation and fraudulent and unfair trade practices. The regulations specifically
prohibit market manipulation, misleading statements to induce sale or purchase of
securities, unfair trade practices relating to securities. The important terms defined
under the regulations are:
139
(i) Fraud includes any act, expression, omission or concealment committed whether
in a deceitful manner or not by a person or by any other person or his agent while
dealing in securities in order to induce another person with his connivance or his
agent to deal in securities, whether or not there is any wrongful gain or avoidance of
any loss, and should also include:
(a) a knowing misrepresentation of the truth or concealment of material fact in
order that another person may act to his detriment;
(b) a suggestion as to a fact which is not true by one who does not believe it
to be true;
(c) an active concealment of a fact by one having knowledge or belief of the
fact;
(d) a promise made without any intention of performing it;
(e) a representation made in a reckless and careless manner whether it be
true or false;
(f) any such act or omission as any other law specifically declares to be
fraudulent;
(g) deceptive behaviour by a person depriving another of informed consent or
full participation;
(h) a false statement made without reasonable ground for believing to be true;
(i) the act of an issuer of securities giving out misinformation that affects the
market price of the security, resulting in investors being effectively misled
even though they did not rely on the statement itself or anything derived
from it other than the market price.
The term “fraudulent” should be construed accordingly. Nothing contained in this
clause is applicable to any general comments made in good faith in regard to the
economic policy of the Government; the economic situation of the country; trends in
the securities market; any other matter of a like nature.
(ii) Dealing in Securities is defined to include an act of buying, selling or
subscribing pursuant to any issue of any securities or agreeing to buy, sell or
subscribe to any issue of any securities or otherwise transacting in any way in any
security by any person as principal, agent or intermediary as defined under the SEBI
Act.
5.3.1 Prohibition of Certain Dealings in Securities
The regulation provides that no person should directly or indirectly:
(a) buy, sell or otherwise deal in securities in a fraudulent manner;
(b) use or employ, in connection with issue, purchase or sale of any
security listed or proposed to be listed in a recognised stock exchange,
any manipulative or deceptive device or contrivance in contravention of
the provisions of the Act or the rules or the regulations made
thereunder;
(c) employ any device, scheme or artifice to defraud in connection with
dealing in or issue of securities which are listed or proposed to be listed
on a recognised stock exchange;
(d) engage in any act, practice, course of business which operates or would
operate as fraud or deceit upon any person in connection with any
dealing in or issue of securities which are listed or proposed to be listed
on a recognised stock exchange in contravention of the act, rules and
regulations.
CHAPTER- 6
DATA ANALYSIS
&
INTERPRETATION
1)Are you in favour of Demat account?
Particulars Yes No
Investors response 26 7
% of the sample 76 26
80
70
60
50 Investors
40 response
30 % ofthe sample
20
10
0
Yes No
INTERPRETATION:
From the above graph we can say that 77% of the people are in favour of demat account and
20% of them are not in favour of it.
2.Which depository do you take into consideration for accessing Demat account?
Particulars NSDL CDSL

100
80
60 East
West
40
North
20
0
1st Qtr 2ndQtr 3rdQtr 4thQtr
INTERPRETATION:
From the above graph we can say that 77%of the people are in favour of NSDL depository and
23% are in favour of CDSL depository.
3. Are you aware of online trading?
Particulars Yes No
100
80
60 Investors
response
40 %ofthe sample
20
0
Yes No
INTERPRETATION:
From the above graph we can say that 90% of the people are aware of online trading and 10% of
them are not aware of it.
4.Which is the most preferable attribute while investing? Comment…
Particulars Rate of return Liquidity Convenience Regulation

Investors response 13 11 2 3
% of the sample 43 40 7 10
100
80
60 East
West
40
North
20
0
1st Qtr 2ndQtr 3rdQtr 4thQtr
INTERPRETATION:
From the above graph we can say that Liquidity(43%) is most preferable among all the attributes.
6.Are you aware the nature of risk involved in online trading?
Particulars Yes No
90
80
70
60
50
Investorsresponse
40
%of the sample
30
20
10
0
Yes No
INTERPRETATION:
From the above graph we can say that (83%)majority of the people are aware of risk involved in
online trading.
6.Do you check brokers activity involved in online trading?
Particulars Yes No
50
40
30 Investors
response
20 %of the sample
10
0
yes no
INTERPRETATION:
From the above graph we can say that 60% of the investors check brokers activities and 60% do
not check.
CHAPTER- 7
FINDINGS & SUGGESTIONS

SUGGESTIONS
The suggestion to exchange authorities is to take steps to educate investors about their rights and
obligation , try to increase investors confidence. I suggest the exchange authorities to be
vigilant to curb wide fluctuations of prices on the exchanges in the prices ,not attracting to the
genuine investors to the greater extents towards the market .Try to explain them how fraud will
take place so that they will be alert and they can take necessary steps to avoid the frauds.
FINDINGS
 The software or the systems used in online trading should be advanced and the
persons who operate should have minimum knowledge.
 Due to invention of online trading here has been greater benefit to the investors as they
could buy/sell shares as and when required.
 Most of the investors like to trade along with brokers.
 It has to take necessary steps to attract the customers through the Internet.
 Online trading is more powerful & advantageous than manual trading.

CHAPTER- 8
CONCLUSION
&
BIBLIOGRAPHY
CONCLUSION AND SUGGESTIONS
Today various people are investing in stock without having proper knowledge about it , they only
listen to their broker sayings and in the end face huge losses , stock predication is very difficult
or say impossible no one can predict the future as has been brilliant shown in the Hollywood
movie paycheck
If people know the truth and have knowledge about the market than can take some risks. Stock
can’t be predicted no one is sure what going to happen the next movement it’s a much volatile
market. If someone is sure about the up trepanned than why the stop loss being set if because
there is no surety
Therefore, people should have knowledge about the market than they should enter it as it would
lead in minimizing the losses and playing a more safe game of investing money. More reliable
techniques should come to facilitate people and it should be simple also.
BIBLIOGRAPHY
Websites:
 www.google.com
 www.wikipedia.com
 www.sharekhan.com
 www.religare.com
 www.karvay.com
 www.indiabulls.com
 Indiainfoline.com
 www.shiraminsight.com
Books, magazines& newspaper
 Business times
 Research methodology(c.s kothari)
 Economic times
 Financial management (paresh shah)

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Index

CONTENTS PAGE NO.

CHAPTER 2 RESEARCH METHODOLOGY

CHAPTER 3 INDUSTRY PROFILE

CHAPTER 4 COMPANY PROFILE

CHAPTER 5 THEORETICAL FRAME WORK

CHAPTER 6 DATA ANALYSIS & INTERPRETATION

CHAPTER 7 FINDINGS & SUGGESTIONS

CHAPTER 8 CONCLUSION & BIBLIOGRAPHY

Type Stock Exchange

Location Mumbai, India

Owner Bombay Stock Exchange Limited

Key people Rajnikant Patel (CEO)

No. of listings ~6,000

MarketCap US$ 1.61 trillion (2006)

Volume US$ 980 billion (2006)

Indexes BSE Sensex

A stock market, or (equity market), is a private or public market for

value. Many such relatively illiquid securities are valued as marked

Objective of the research project

• To understand the importance of economic analysis of firm as a producing unit

1. lot of efforts have been undergone to improve the predication

The research methodology consisted following steps:

1. DEFINING THE OBJECTIVES:

b. Analysis of different schemes of share market.

2. DEVELOPING THE RESEARCH PLAN:

ii. SECONDARY DATA

3. COLLECTING THE INFORMATION

Base on the above questionnaire data are collected by survey methods.

 The sampling method, which is adopted, is Random Sampling.

3. The Analysis of survey has been done on % basis.

DEFINITION OF STOCK EXCHANGE

It is an association of member brokers for the purpose of self-regulation and protecting

3.2 REGULATION OF STOCK EXCHANGES

3.3 SECURITIES AND EXCHANGE BOARD OF INDIA (SEBI).

3.4BOMBAY STOCK EXCHANGE

A governing board comprising of 9 elected directors, 2 SEBI nominees, 7 public

3.5 NATIONAL STOCK EXCHANGE

Ahmedbad Stock Exchange

PROFILE OF BROKING HOUSE IN THE STOCK MARKET

• Tangible features of product /service

• Softer, intangible features like imagery, equity driving preference

• Tactical measures such as promotional /pricing schemes

ABOUT THE COMPANY

Share Khan Limited, a flagship broking firm in the share market,

Established in 1958, Share Khan commissioned its shares and

With a strategic intent to achieve vertical integration in the share

MARKET SHARE ANALYSIS

 1) Possibility of high returns

SO HOW DOES ONE BUY SHARES?

 Purchase shares from

They are selected by the Index committee.

Some of the criteria they follow include:

shares 09/02/06 (Rs.) 18/02/06 (Rs.)

TATA 10 20/- 200/- 30/- 300/-

INFOSYS 20 30/- 600/- 40/- 800/-

IBM 20 100/- 2000/- 150/- 3000/-

Index present value=

The India Infoline group, comprising the holding company, India

The company has a network of 758 business locations (branches and

India Infoline Limited is listed on both the leading stock exchanges

Key elements that place Bonanza amongst the leading Brokerage