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A Summer Training Report On POTENTIAL OF EQUITY MARKET AND AWAIRNESS OF UNICON AMONG INVESTORS
Submitted in partial fulfillment of the requirement of BBA programme of M.D.S. University, Ajmer Company Guide LALIT GAUR Branch Head, Ajmer
SUBMITTED TO:
ACKNOWLEDGEMENT
At the very beginning, I wish to render my deep sense of gratitude with special thanks and due regard to Mr. LALIT GAUR (Branch Manager, Unicon Investment Solution-AJMER) whom I required the privilege of working. His invaluable guidance and thoughtful consideration had been the key motivating factor throughout my project, which enabled me to complete my project so
efficiently and effectively. I also thankful to Ms. SUNAYANA BANSAL (Branch Executive, Unicon Investment Solutions Ajmer) for her valuable support thought my Training at UNICON.
I wish to express my respectable thanks and gratitude to MAM RANVIKA AND VARSHA MATHUR (Faculty of B.B.A.) theoretical knowledge about the subject. I feel immense pleasure to offer my thanks to faculty members, who cooperated in analysis of data and helped me to understand some behavioral aspects of consumers. I am very thankful to my friends who directly and indirectly helped me in collection of data and material related to the topic.
JAGRATI GURNANI
PREFACE
In BACHELOR OF BUSINESS ADMINISTRATION, Internship program is an important part to give students an opportunity to have an experience of practical field. Unless and until the student experience of the novelty of practical work, their knowledge of what they study in theoretical courses remains incomplete. The most important point in an Internship program is that the students should spend their time in a true manner and with the spirit to learn practical orientation of theoretical study framework.
This Internship is on my eight weeks practical training at UNICON INVESTMENT SOLUTION AJMER. I did training in Finance Field which deals with potentiality of equity market.
In this Internship report I have tried to give details about the POTENTIAL OF EQUITY MARKET AND AWARENESS OF UNICON AMONG INVESTORS
DECLARATION
I hereby declare that the work incorporated in the present project entitled POTENTIAL OF EQUITY MARKET AND AWARENESS OF UNICON AMONG INVESTORS at UNICON INVESTMENT SOLUTION- AJMER is my own work and is original.
This work in part or in full has not been submitted to any University for the award of a degree or diploma
JAGRATI GURNANI
CONTENTS
COMPANY PROFILE
1. ORGANIZATION & MANAGEMENT 2. PRODUCT & SERVICE 3. ACCOUNT OPENING 4. DEMAT PROCESS 5. DEMAT ACCOUNT 6. DIFFERENCE BETWEEN BANK ACCOUNT & DEMAT ACCOUNT
OPPORTUNITIES AVAILABLE FOR FOREIGN INVESTORS RESEARCH & METHADOLOGY SOURCES OF DATA COLLECTION
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OBJECTIVES
To know the basics of stock market and its potentials. To know the procedures and policies of Unicon and products offered by the company. To know the awareness of investors about Unicon and their investment avenues. To know the preference of customers in concern of various investment products available in the market.
COMPANY PROFILE
Unicon has been founded with the aim of providing world class investing experience to hitherto underserved investor community. The technology today has made it possible to reach out to the last person in the financial market and give him the same level of service which was available to only the selected few. We give personalized premium service with reasonable commissions on the NSE, BSE & Derivative market through our Equity broking arm Unicon Securities Pvt Ltd. and Commodities on NCDEX and MCX through our Commodity broking arm Unicon Commodities Pvt. Ltd. With our sophisticated technology you can trade through your computer and if you want human touch you can also deal through our Relationship Managers out of our 97 branch network spread across the nation. We also give personalized services on Insurance (Life & General) & Investments (Mutual Funds & IPO's) needs, through our Insurance & Investment distribution arm Unicon Insurance Advisors Pvt. Ltd.Our tailor-made customized solutions are perfect match to different financial objectives. Our distribution network is backed by in-house back office support to serve our customer promptly.
The company, created to provide premium service with reasonable commissions, currently maintains more than 40000 individual accounts.
Unicon distributes Insurance (Life & General) and Mutual Funds through its subsidiary Unicon Insurance Advisors Pvt. Ltd. We
alsodistributes IPO's through the same entity. The objective here is to offer our customers all the investments related products under same roof. Unicon is staffed by financial and technology experts, unicon provides a certified, skilled environment for individuals to receive trading information and execute trades, both online and offline. The company consists of over 2000 employees nationwide, including over 400 at the headquarters. Unicon employees work together as a team to continue the tradition of excellent customer service and support.
Mr. Gajendra Nagpal, Founder & CEO: Mr. Nagpal is responsible for day to day running of the company. A management graduate by qualification, Mr. Nagpal brings with him over 14 years of experience in the stock market. Before joining Unicon he has served at senior positions for 5 years with Kotak securities at a regional level and Indiabulls securities for 4 years at national level assignments. Mr. Nagpal brings with him the rich experience of building a retail broking network. Mr. Ram M Gupta, Co-Founder & President: Mr. Gupta through his aggression and dynamism brings energy to the team. He has 8 years of stock market experience behind him and is responsible for driving the sales team. Mr. Gupta has held senior level positions in Karvy stock broking and Indiabulls Securities. Mr. Gupta is supported by a team of over 850 relationship mangers spread over 94 locations across the
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country. Mr. Sandeep Arora, Chief Operating Officer: Mr. Arora brings with him over 11 years of experience of managing operations of stock broking company. Mr. Arora before taking over as head of operations at Unicon was responsible for managing the operations of Indiabulls Securities Ltd. Mr. Arora is supported by his team of over 400 people helping him to give world class service to the clients. Mr. Vikas Mallan, Chief Financial Officer: Mr. Mallan A Chartered Accountant, Company Secretary and Cost Accountant by profession. Mr. Mallan has over 14 years of experience in the area of finance. Before joining Unicon he has served at senior level positions with Rediff.com, Reliance Telecom and Koshika Telecom. His experience includes a Nasdaq listing of an Indian internet company and Head of Finance of a leading Law firm. Mr. Mallan is heading Distribution / Mutual Fund initiative and is supported by 850 employees nationwide
Ms. Anjali Mukhija CCO: heads compliance. She brings with her 12 years of experience in the stock markets. Her current job profile includes broking operations, client relations & grievance redressal, coupled with Public dealings. Prior to joining Unicon, she was with the National Stock Exchange, Delhi Regional Office for 10 years and had held senior position for a brief period in a reputed broking house.
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Mr.Trinadh Kiran National Head(E-Broking): is an MBA marketing professional from Aligarh Muslim University and has done 10 months research in Capital Markets from IIM-Ahmedabad. He brings with him a total work experience of 7 years and has worked with almost all big giants of capital market like India Infoline, India Bulls and Net worth Stock Broking. He is associated with Unicon since June 2005. He has extensive knowledge of Retail Broking and expertise in E-Broking. Mr.Vijay Chopra National Head (Business Alliances): Mr. Vijay Chopra is a management graduate from Indian Institute of Foreign Trade, New Delhi. He has a illustrious professional track record of spanning over 11 years wherein he has handled various assignments at a senior levels with some of the best names in the Consulting, FMCG & healthcare space. His forte has been supply chain management, New Product Launches, Sales, Marketing, Product management & Training. Mr. Chopra along with his team
handles over 300 business partner network which is spread over the entire geographical spread of the country. Mr.Ashish Kukreja Head-PCG: Has the responsibility of handling PCG business with Unicon. He brings with him a wide industry exposure and joined Unicon in July 2006 after rendering his services to Kotak Securities, where he was taking care of franchisee business and later started handling HNI desk. He is an MBA (finance) from ICFAI Business School.
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Ms. Divya Verma Kaur Head HR: is Country Head - HR and Training. Ms. Divya brings with her 17.5 years of experience in Human Resource and Training and her core expertise are designing and implementing innovative HR strategies for employees retention, establishing & stabilizing processes and handling effective appraisal process linked with rewards & recognitions. Ms. Divya is an effective communicator with strong leadership acumen. Her skill set includes manpower budgeting, talent hirings, succession planning, competency mapping, training/development planning, formulating employee welfare programs and compensation
benchmarking.
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Unicon customers have the advantage of trading in all the market segments together in the same window, as we understand the need of transactions to be executed with high speed and reduced time.At the same time, they have the advantage of having all kind of Insurance & Investment Advisory Services for Life Insurance, General Insurance, Mutal Funds and IPOs also.
Unicon is a customer focused financial services organization providing a range of investment solutions to our customers. We work with clients to meet their overall investment objectives and achievetheir financial goals. Our clients have the opportunity to get personalized services depending on their investment profiles. Our personalized approach enables clients to achieve their Total Investment Objectives. Our key product offerings are as follows:
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1. Equity Trading 2. Commodity Trading 3. PCG 4. NRI Services 5. Mutual Fund 6. Life Insurance 7. General Insurance 8. Depository Services 9. Portfolio Tracker 10. Backoffice
1) Equity Trading Unicon offers a unique feature where our customers get to trade on NSE, BSE and Derivatives all on one screen. Unicon also provides the facility to put orders over the phone through Relationship Managers. You can always have access to our 97 branch offices located in the prime locations of the city, should you wish to trade "walk in". Products offerings for Trading
2) Trade in Commodity As the stock market takes a beating, commodity prices are soaring. In times of high inflation, commodity futures can offer you the edge that you were looking for. With a Unicon Trading Account, you can trade in Commodity Futures from both MCX and NCDEX using a single screen.
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3) Unicon Depository Services offers dematerialization services as a participant in Central Depository Services Limited (CDSL), through its Depository operations. The company believes in efficient and cost-effective and integrated service support to its brokerage business. Unicon Securities Private Limited, as a depository participant, will offer depository accounts for individual investors as well as corporates which will enable them to transact in the dematerialized segment, without any hassles.
4) Properties At Unicon Investment Solutions, we assist our prestigious customers in investing in the best properties in India, by offering them the most lucrative real estate deals. We provide full fledged investment solutions for residential as well as commercial properties in India, which include services related to the purchase of properties, documentation, renting and leasing, investment advisory services, property valuation and assisting clients with home loans.
5) Unicon Offers The Power of Currency Derivatives Currency derivative is a contract between the seller and buyer, whose value is to be derived from the underlying asset, the currency amount. A derivative based on currency exchange rates is a future contract which stipulates the rate at which a given currency can be exchanged for another currency as at a future date.
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6) Back Office Unicon through its online back-office aims to increase the transparency and provides you the link to view the details of your account onlinae anytime and anywhere.
7) Portfolio Management The Portfolio Management Schemes of the Company offer Discretionary Schemes (Unicon Optimizer & Unicon Growth) for
Individuals, Corporate Bodies, Partnership firms, Proprietors, Non Resident Indians etc. The Company is registered with SEBI enabling it to undertake Portfolio Management activities under a specific license.
And so on..
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ACCOUNT OPENING
The investor can open an account with any depository participant of CDSL. An investor may open an account with several DPs or he may open several accounts with a single DP. There are several DPs offering various depository-related services. Each DP is free to fix its own fee structure.
Investors have the freedom to choose a DP based on criteria like convenience, comfort, service levels, safety, reputation and charges. After exercising this choice, the investor has to enter into an agreement with the DP. The form and contents of this agreement are specified by the business rules of CDSL.
1. TYPE OF ACCOUNT
Type of depository account depends on the operations to be performed. There are three types of Demat accounts, which can be opened with a depository participant viz.
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(a) Beneficiary Account (b) Clearing Member Account and (c) Intermediary Account.
For the purpose of verification, all investors have to submit the following documents along with the prescribed account opening form.
A beneficiary account must be opened only after obtaining a proof of identity of the applicant. The applicant's signature and photograph must be authenticated by an existing account holder or by the applicant's bank or after due verification made with the original of the applicant's Valid passport, Voter ID, driving license
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The account opening form should be supported with proof of address such as :
Verified copies of ration card Passport Voter ID PAN card Driving license Bank passbook.
An authorized official of the Participant, under his signature, shall verify the original documents. In case any account holder fails to produce the original documents for verification within the aforesaid period of 30 days, it must be immediately brought to the notice of CDSL.
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Failure to produce the original documents within the prescribed time would invite appropriate action against such account holders, which could even include freezing of their accounts.
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1. He company/issuer should have established connectivity with CDSL. Only after such connectivity is established, the securities of that company/issuer are recognized to be "available for
dematerialization".
2. The holder of securities should have a beneficiary account in the same name as it appears on the security certificates to be dematerialized.
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Demat Account
Definition Demat account is a safe and convenient means of holding securities just like a bank account is for funds. Today, practically 99.9% settlement (of shares) takes place on demat mode only. Thus, it is advisable to have a Beneficiary Owner (BO) account to trade at the exchanges. Bank Account Vs Demat Account S. No. 1. Basis Of Differentiation Bank Account Demat Account Securities Safekeeping of shares
2. Used for
3. Facilitates
Transfer of money Transfer of shares (without actually (without actually handling money) handling shares) A bank of choice A DP of choice (can be a bank) Mandatory (effective from April 01, 2006)
Not Mandatory
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AQB* maintenance Minimum balance is specified for No such 7. requirement certain bank requirement accounts 8. Either or Survivor Available facility Not available
*AQB - Average Quarterly Balance S. No. 1. BASIS OF SIMILARITY Security and Convenience PARTICULARS Both are very safe and convenient means of holding deposits/securities
No legal barrier on the number of 2. Number of accounts bank or demat accounts that can be opened Funds/securities are transferred Transfer of deposits 3. only at the instruction of the account (funds or securities) holder 4. Physical transfer of Physical transfer of money/securities money/securities is not involved
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Stock Marcket
Equity
Mutual Funds
Commodities
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a portion of the value of the company in case of liquidation. Equity is a share in the ownership of a company. It represents a claim on the companys assets and earnings. As you acquire more stock, your ownership stake in the company increases. The terms share, equity and stock mean the same thing and can be used interchangeably.
The Bombay Stock Exchange Limited, or BSE has a nation-wide reach with a presence in 417 cities and towns of India. Its index, or market indicator is known as the Sensex.
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The S&P CNX Nifty, or simply Nifty, is the leading index for large companies on the National Stock Exchange of India. It consists of 50 companies representing 24 sectors of the economy, and representing approximately 47% of the traded value of all stocks on the National Stock Exchange of India.
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Unrealistic investor expectations driven by the recent history of the boom in IT stocks is a cause for concern: now, the quality of the stock and fundamentals are ignored in a market characterized by daily assessment of profits and losses. Recent price history clouds the investors minds so much that they start treating that price as the real value of the stock and dont take a longer perspective of the company.
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The new economy stocks are a different breed. There is a lot of theme or concept investing taking place in these stocks now. It is difficult to quantify the future of the businesses and put a value to those.
To discount all the future cash flows and put a value to the company is passe and PEG ratios based on the next couple of years earnings is in the near term high growth rate in these businesses is overshadowing the pricing of risk and technological obsolescence for a particular company. Market volatility is a sign that investors are unsure of how to value these stocks. In the minds of investors, there is a battle going on between this great new paradigm and the valuations of the stocks. In such a scenario, mood swings between hope and fear cause volatility.
The volatility in new economy stocks reflects systemic changes taking place in the underlying businesses. In the boardrooms of companies, long gone are the months of planning and debate on capital allocation, mergers/acquisitions and joint ventures. In the Internetage ,a three-month delay can be the difference between success and failure. Also, we are now in an age when companies can think of becoming multinationals in a short span (e.g. Yahoo, Amazon), when established age old companies see their fortunes dip very fast (e.g. Britannica) and when companies can go boom and then come tumbling down in a couple of years (e.g. Netscape). When businesses are
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witnessing such rapid stratospheric booms and busts, it is natural to expect their stocks to be volatile.
In times of extreme volatility, investments in diversified equity funds offer a hedge against stock specific risk. The regulator shouldleave the pricing of the stocks to markets and its play on fear and greed, but should come down heavily on rigging induced volatility. It should clamp down on insider trading and selective information leaks. Information dissemination when done timely and uniformly to all investors would bring in transparency and should help arrest volatility to some extent.
The margin requirement in the new economy stocks should be fixed at a high level, as investors will have to learn to live with high volatility in these stocks.
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The Stock Exchange, Mumbai (BSE) is generally referred to as the Gateway to the capital market in India. It is a lynchpin of the Indian Capital market. Its governing board and administration are keenly aware of the future needs of the exchange to maintain its lead role. As Indian economy is opening up, the Exchange has brought its operations at par with international standards. It is poised to take advantage of changes in Indian economic deregulation to expand the market and make the security market, in India, more transparent and more liquid.
However, the objectives and the role of the Stock Exchange, Mumbai has remained the same as enunciated by our founding fathers and given to us as a mandate in 1887 through the charter.
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1. To safeguard the interest of investing public having dealings on the Exchange and the members. 2. To establish and promote honorable and just practices in securities transactions. 3. To promote, develop and maintain a well-regulated market for dealing in securities. 4. To promote industrial developments in the country through efficient resource mobilization by way of investment in corporate securities. The Exchange while providing an efficient market also upholds the interests of the investors and ensures redressal of their grievances, whether against the companies or its own member-brokers. It also strives to educate and enlighten the investors by making available
A Governing Board comprising of 9 elected directors (one third of them retire every year by rotation), an Executive Director, three Government nominees, a Reserve Bank of India nominee and five public representatives, is the apex body, which regulates the Exchange and decides its policies. The Governing Board following the election of directors annually elects a President, Vice-President and an Honorary Treasurer from among the elected directors.
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The
Executive
Director
as
the
Chief
Executive
Officer
is
The Exchange has obtained permission from Securities and Exchange Board of India (SEBI) for expansion of its BSE-On-LineTrading (BOLT) network to locations outside Mumbai. In terms of the permission granted by SEBI, the members of the Exchange are free to install their trading terminals to cities where there are no Stock Exchanges. However, at centres where the other Exchanges are located, the Exchange is required to sign a Memorandum of Understanding with these Exchanges permitting it to install the BOLT terminals in their jurisdictional areas. In terms of organization structure, the Board formulates larger policy issues and exercises over-all control. The committees constituted by the Board are broad-based. The Managing Director and a management team of professionals manage the day-to-day operations of the Exchange. The Exchange has a nation-wide reach with a presence in 417 cities and towns of India. The systems and processes of the Exchange are designed to safeguard market integrity and enhance transparency in operations. During the year 2005-2006, the trading volumes on the Exchange showed robust growth. The Exchange provides an efficient and transparent market for trading in equity, debt instruments and derivatives. The BSE's On Line
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Trading System (BOLT) is a proprietary system of the Exchange and is BS 7799-2-2002 certified. The surveillance and clearing & settlement functions of the Exchange are ISO 9001:2000 certified.
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On its recognition as a stock exchange under the Securities Contracts (Regulation) Act, 1956 in April 1993, NSE commenced operations in the Wholesale Debt Market (WDM) segment in June 1994. The Capital Market (Equities) segment commenced operations in November 1994 and operations in Derivatives segment commenced in June 2000.
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With effect from April 6, 1998, deliveries in the demat mode are permitted in the physical segment. This is so because sellers are allowed to give delivery in demat or electronic form. As of today, this is applicable to 278 scrips. As such, a break-up session is scheduled every Monday where members may mark the mode of delivery, i.e., physical or demat. They, however, have an option to change the mode of delivery till the pay-in day, i.e., Thursday.
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4. Who is a broker?
A stockbroker is person who is licensed to trade in shares. Brokers also have direct access to the sharemarket and can act as your agent in share transactions. For this service they charge a fee. They can also offer additional services like advice on shares, debentures, government bonds and listed property trusts and non-listed investment options (cash management trusts, property and equity trusts. (more...)
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We invest in shares to make money either through a shares capital growth, i.e. the amount by which the share price increases in value over time, or through the dividends it pays to its shareholders. Dividends are payments made by companies to shareholders from their profits. (more...)
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Important requirements under the guidelines are as under: 1 Portfolio investment in primary or secondary markets will be subject to a ceiling of 30 percent of issued share capital for the total holding of all registered FII's. In any one company an FIIholding is subject to a ceiling of 10 percent of the
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total issued capital. However, in applying the ceiling of 30 percent the following are excluded:
Foreign investment under a financial collaboration, which is, permitted upto 51 percent in all priority areas. Investment by FII's through offshore single/regional funds,
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RESEARCH METHODOLOGY
The study will be carried on in a proper planned and systematic manner. This methodology includes (i) (ii) Familiarization with the Stock Exchanges Observation and collection of data.
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QUESTIONNAIRE
NAME : ________________________ Telephone No. _______________
OCCUPATION: ____________________________
INCOME LEVEL:
Below 1 Lac
More than 5 Lac Q1. Which type of investment you prefer ? (GIVE RANKS) a. Equity-commodity .. b. Fixed deposit(FD) c. Insurance d. Property e. Mutual Fund .. .. .. ..
Q3. Have you ever heard about UNICON INVESTMENT SOLUTION ? YES NO
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Q5. Which mode do you use for investment ? Online Offline Both
Q6. Are you aware of various product and services provided by UNICON ? (Give answer in YES or NO). Equity Commodity Insurance Mutual fund Property Broking PMS Fixed Income Wealth Management .
Q7 For how long you can invest in EQUITY ? Less than 1 Year 1-3 Years More Than 3 Years
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Q8. Why do you like to invest in EQUITY market ? Saving Knowledge High Returns Liquidity
Q9. Source of investment in EQUITY ? Agent Self Friends / Family members Media
Q10. What product or service influences your choice of broking house? Brokerage Staff Efficiency Office Environment Brand Name
Timely Response Office Location AND GIVE RANKS TO UNICON . Brokerage Staff Efficiency Office Environment Timely Response Office Location Brand Name
Cant Say
INCOME LEVEL
BELOW 1 LAC 1-2 LAC 2-5 LAC 0% MORE THAN 5 LAC
10%
47%
43%
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7%
93%
Finding
The above table reveals that higher income levels are giving more preference to invest in equity where as lower income levels given more preference to invest in bank deposits and Equity is also having its preference among people investment choices
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6
4 2 0
EQUITY COMMODITY FIXED DEPOSIT INSURANCE PROPERTY MUTUAL FUND
Finding
It implies that demat account is very popular and a significant member of client interviewed, have their own demat account.
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Q3. HAVE YOU EVER HEARD ABOUT UNICON INVESTMENT SOLUTION? YES NO
10%
90%
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9% 22%
25%
44%
Finding
1. 44 percent of investors are preferred affects portfolio of the investor ,invest in long-term avenues where as 34 per cent of investorsare preferred to 36 per cent of the investors-invest in both both long term and short term avenues , are preferred to invest in monthly and 26 % of investors preferred to invest in 52 per cent of the investors are investing on the basis of-quarterly basis.
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BOTH
OFFLINE ONLINE
10 Series1
15
20
25
Finding
As the study show, internet trading is not very popular among people. So, a huge member of people use the OFFLINE mode of trading.
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Q6. Are you aware of various product and services provided by UNICON ? (Give answer in YES or NO). Equity Commodity Insurance Mutual fund Property Broking PMS Fixed Income .
Wealth Management
Finding
From the sample data, we find that only equity, commodity and insurance are popular and investors are not aware of any other product of company.
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12
10
8
LESS THAN 1 YR
1-3 YRS
Finding
From the study, we found both long Term and short Term equity investment.
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Finding
The objective of investment in equity market is high return and liquidity and these two factors are attracting most people for investing in equity market. A very less number of people invest to get knowledge and purpose of saving.
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Finding
prefer to take advice of any agent rather than family and self investment.
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Q10. What product or service influences your choice of broking house? Brokerage Environment Name AND GIVE RANKS TO UNICON . Brokerage Staff Efficiency Office Environment Timely Response Office Location Brand Name Staff Efficiency Office Brand
Finding
The sample data implies that brokerage , office location, timely response mainly influence the choice of broking house for investors and Unicon gets the top ranks in office location, office environment, timely response, brokerage and staff efficiency.
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SATISFY 33%
UNSATISFIED 60%
HIGHLY SATISFY 7%
Finding
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CANT SAY
87%
Finding
We could not get the proper result of this question as Cant Say was the answer selected by most of people
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CONCLUSIONS
The study takes a random sample 30 (thirty) prospective clients, that denotes the whole population of investing community which is limited to the extent of accurate results. The study also drawn an important conclusion that the equity market is a popular source of investment and people invest for their higher returns, keeping in mind both long term and short term investment. Investors are aware about Unicon but not all products of Unicon .Equity and Commodity are popular. Investors prefer equity more than commodity. Internet- based trading i.e. online trading is getting its place but due to shortage of time and service class investors they all prefer offline trading or telephonic order placement through their agents or broker. Unicon is having advantage of its location but requires competitive rates of brokerage and infrastructure.
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SUGGESTIONS
Unicon should work on its marketing activities and client awareness programmes should be conducted from time to time about various products and their potentiality for investors. Regular SMS for investment opportunities and for updates to the investors regarding their investments.
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BIBLIOGRAPHY
Macroeconomics Theory and Policy: Gardner Ackley, MacMillan Publishing Co., Inc. New York, International Edition, 1978. The Rise and the fall of the big bull, Business World, April 16, 2004, pp. 18-26. Indias Stock Markets, Business Today Will BSE Survive, CFA, August 2004, pp. 24-28. Dalal Street, Outlook
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WEBSITES:
www.nseindia.com www.bseindia.com WWW.indiabulls.com www.indiaweekly.com www.indiainfoline.com www.CDSL.com www. investopedia.com www. Uniconindia.com Valueline, May 2007 July 2007 issues Business Standard, July 2007
Research Reports
Unicon research report
Book
Fundamental Statistics, by Goon, Gupta & Dasgupta, Vol. 2 Marketing Research, by Kotler
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