Professional Documents
Culture Documents
INTRODUCTION
In most industrialized countries, a substantial part of financial wealth is not managed directly by savers, but through a financial intermediary, which implies the existence of an agency contract between the investor (the principal) and a broker or portfolio manager (the agent). Therefore, delegated brokerage management is arguably one of the most important agency relationships intervening in the economy, with a possible impact on financial market and economic developments at a macro level. In most of the metros, people like to put their money in stock options instead of dumping it in the bank-lockers. Now, this trend pick pace in small but fast developing cities like Delhi, Chandigarh, Gurgaon, Jaipur etc. My research is based on the residents of Delhi and its nearby areas (NCR). As the per-capita-income of the city is on the higher side, so it is quite obvious that they want to invest their money in profitable ventures. On the other hand, a number of brokerage houses make sure the hassle free investment in stocks. Asset management firms allow investors to estimate both the expected risks and returns, as measured statistically. There are mainly two types of Portfolio management strategies. 1. Passive Portfolio Strategy 2. Active Portfolio Strategy
1. Passive Portfolio Strategy: A strategy that involves minimal expectation input, and instead relies on diversification to match the performance of some market index. A passive strategy assumes that the marketplace will reflect all available information in the price paid for securities 2. Active Portfolio Strategy: A strategy that uses available information and forecasting techniques to seek a better performance than a portfolio that is simply diversified broadly.
and Rs. 48,000 in 1920. At present there are 23 recognized stock exchanges with about 6000 stock brokers. Organization structure of stock exchange varies. 14 stock exchanges are organized as public limited companies, 6 as companies limited by guarantee and 3 are non-profit voluntary organization. Of the total of 23, only 9 stock exchanges have been permanent recognition. Others have to seek recognition on annual basis. These exchange do not work of its own, rather, these are run by some persons and with the help of some persons and institution. All these are down as functionaries on stock exchange. These are 1. Stockbrokers 2. sub-broker 3. market makers 4. Portfolio consultants etc.
1. Stockbrokers
Stock brokers are the members of stock exchanges. These are the persons who buy, sell or deal in securities. A certificate of registration from SEBI is mandatory to act as a broker. SEBI can impose certain conditions while granting the certificate of registrations. It is obligatory for the person to abide by the rules, regulations and the buy-law. Stock brokers are commission broker, floor broker, arbitrageur etc.
2. Sub-broker
A sub-broker acts as agent of stock broker. He is not a member of a stock exchange. He assists the investors in buying, selling or dealing in securities through stockbroker. The broker and subbroker should enter into an agreement in which obligations of both should be specified. Subbroker must be registered SEBI for a dealing in securities. For getting registered with SEBI, he must fulfill certain rules and regulation.
3. Market Makers
Market maker is a designated specialist in the specified securities. They make both bid and offer at the same time. A market maker has to abide by bye-laws, rules regulations of the concerned stock exchange. He is exempt from the margin requirements. As per the listing requirements, a company where the paid-up capital is Rs. 3 crore but not more than Rs. 5 crore and having a commercial operation for less than 2 years should appoint a market maker at the time of issue of securities.
4. Portfolio consultants
A combination of securities such as stocks, bonds and money market instruments is collectively called as portfolio. Whereas the portfolio consultants are the persons, firms or companies who advise, direct or undertake the management or administration of securities or funds on behalf of their clients. Partial fulfillment for degree of M.B.A. programmed, we received the opportunity from Sharekhan Ltd. for our summer training project report. It is basically a stock brokering
company which deals in security and derivative market, Commodity market, mutual funds and Insurance etc.
PROFIT SHARING
Both casual and professional stock investors, through dividends and stock price increases that may result in capital gains, will share in the wealth of profitable businesses.
Corporate Governance
By having a wide and varied scope of owners, companies generally tend to improve on their management standards and efficiency in order to satisfy the demands of these shareholders and the more stringent rules for public corporations imposed by public stock exchanges and the
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government. Consequently, it is alleged that public companies (companies that are owned by shareholders who are members of the general public and trade shares on public exchanges) tend to have better management records than privately-held companies (those companies where shares are not publicly traded, often owned by the company founders and/or their families and heirs, or otherwise by a small group of investors). However, some well- documented cases are known where it is alleged that there has been considerable slippage in corporate governance on the part of some public companies. The dot- com bubble in the early 2000s, and the subprime mortgage crisis in 2007-08, are classical examples of corporate mismanagement. Companies like Pets.com (2000), Enron Corporation (2001), One.Tel
(2001), Sunbeam (2001), Webvan (2001), Adelphia (2002), MCI WorldCom (2002), Parmalat (2003), American International Group (2008), Lehman Brothers (2008), and Satyam
Computer Services (2009) were among the most widely scrutinized by the media.
Primary Market.
Securities generally have two stages in their lifespan. The first stage is when the company initially issues the security directly from its treasury at a predetermined offering price. This is a primary market offering. It is referred to as the Initial Public Offering (IPO). In primary market, securities are offered to public for subscription for the purpose of raising capital or fund.
Secondary Market.
Secondary Market refers to a market where securities are traded after being initially offered to the public in the primary market and/or listed on the Stock Exchange. Majority of the trading is done in the secondary market. Secondary market comprises of equity markets and the debt markets. Secondary market is an equity trading avenue in which already existing/preissued securities are traded amongst investors Secondary market could be either auction or dealer market
Sharekhan has set category leadership through pioneering initiatives like Speed Trade, a net based executable application that emulates a broker terminal besides providing information relevant to Day traders. Their second initiative, First Step is targeted at empowering first time investors. Sharekhan has also set their global footprints through the India First initiative, a series of seminars conducted by Sharekhan to help NRIs participate and benefit from the huge investment opportunities in India.
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On April 17, 2002 Sharekhan launched Speed Trade and Trade Tiger, are net-based executable application that emulates the broker terminals along with host of other information relevant to the Day Traders. This was for the first time that a net-based trading station of this caliber was offered to the traders. In the last six months SpeedTrade has become a de facto standard for the Day Trading community over the net. Sharekhans ground network includes over 1288+ Shareshops in 325+ cities in India. The firms online trading and investment site - www.sharekhan.com - was launched on Feb 8, 2000. The site gives access to superior content and transaction facility to retail customers across the country. Known for its jargon-free, investor friendly language and high quality research, the site has a registered base of over 3 Lacs customers. The number of trading members currently stands at over 8 Lacs. While online trading currently accounts for just over 5 per cent of the daily trading in stocks in India, Sharekhan alone accounts for 27 per cent of the volumes traded online. The Corporate Finance section has a list of very prestigious clients and has many firsts to its credit, in terms of the size of deal, sector tapped etc. The group has placed over US$ 5 billion in private equity deals
Some of the clients include: BPL Cellular Holding, Gujarat Pipavav, Essar, Hutchison, and shoppers stop. Finally, Sharekhan shifted hands and Citi venture get holds on it.
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Features Online trading account for investing in Equity and Derivatives www.sharekhan.com Live Terminal and Single terminal for NSE Cash, NSE F&O & BSE. Integration of On-line trading, Saving Bank and Demat Account. Instant cash transfer facility against purchase & sale of shares. Competitive transaction charges. Instant order and trade confirmation by E-mail. Streaming Quotes (Cash & Derivatives). Personalized market watch. Single screen interface for Cash and derivatives and more. Provision to enter price trigger and view the same online in market watch.
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SPEEDTRADE
SPEEDTRADE is an internet-based software application that
enables you to buy and sell instantly. It is ideal for active traders and jobbers who transact frequently during days Session to capitalize on intra-day price movement.
FEATURES
Instant order Execution and Confirmation. Single screen trading terminal for NSE Cash, NSE F&O & BSE. Technical Studies. Multiple Charting. Real-time streaming quotes, tic-by-tic charts. Market summary (Cost traded scrip, highest clue etc.) Hot keys similar to brokers terminal. Alerts and reminders. Back-up facility to place trades on Direct Phone lines. Live Market debts
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DIAL-N-TRADE
Along with enabling access for trade online, the CLASSIC and SPEEDTRADE ACCOUNT also gives Dial-n-trade services. With this service, one can dial Sharekhans dedicated phone lines 1800-22-7500, 3970-7500. Beside this, Relationship Managers are always available on Office Phone and Mobile to resolve customer queries.
ShareMobile
Sharekhan had introduced ShareMobile, mobile based software where one can watch Stock Prices, Intra Day Charts, Research & Advice and Trading Calls live on the Mobile.
PREPAID ACCOUNT
Customers pay Advance Brokerage on trading Account and enjoy uninterrupted trading in their Account. Beside this, great discount are also available on brokerage (UPTO 50%). Prepaid Classic Account Prepaid Speed trade Account : - Rs. 2000 : - Rs. 6000
IPO ON-LINE
Customers can apply to all the forthcoming IPOs online. This is quite hassle-free, paperless and time saving. Simply allocate fund to IPO Account, Apply for the IPO and Sit Back & Relax .
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Depository Charges
Rs. NIL
Account Opening Charges Annual Maintenance Charges Rs. NIL first year. Rs. 300/= p.a. from second calendar year onward
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KARVY
KARVY is a premier integrated financial services provider, and ranked among the top five in the country in all its business segments, services over 16 million individual investors in various capacities, and provides investor services to over 300 corporate, comprising the who is who of Corporate India. Karvy has a professional management team and ranks among the best in technology, operations and research of various industrial segments. History of Karvy :- The birth of Karvy was on a modest scale in 1981. It began with the vision and enterprise of a small group of practicing Chartered Accountants who founded the flagship company, Karvy Consultants Limited. They started with consulting and financial accounting automation and carved inroads into the field of registry and share accounting by 1985. Since then, karvy utilized its experience and superlative expertise to go from strength to strength, to better their services, to innovate, diversify and in the process, evolved as one of Indias premier integrated financial service enterprise. PRODUCT AND SERVICES OF KARVY GROUP
1. Karvy comtrade. 2. Karvy consultant ltd. 3. Karvy merchant banking. 4. Karvy global service limited
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ICICI DIRECT
ICICI Web Trade Limited (IWTL) maintains www.icicidirect.com (herein after referred to as the "Website") whereas IWTL is an affiliate of ICICI Bank Limited and the Website is owned by ICICI Bank Limited. IWTL has launched and established an online trading service on the Website.
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HDFC SECURITY
HDFC security is the subsidiary of HDFC (Housing Development Financial Corporation).
www.hdfcsec.com would have an exclusive discretion to decide the customers who would be entitled to its online investing services. www.hdfcsec.com also reserves the right to decide on the criteria based on which customers would be chosen to participate in these services .The present web site (www.hdfcsec.com) contains features of services that they offer/propose to offer in due course. The launch of new services is subject to the clearance of the regulators. i.e. SEBI, NSE and BSE.
Online trading for Resident & Non Resident Indians. Cash-n-Carry on both NSE and BSE. Day trading on both NSE and BSE. Trade on Futures & Options on the NSE. Online IPO's. Telephone-based Broking (Equity & Derivatives).
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capital market & derivative segment of The National Stock Exchange of India Ltd. At present, ISL accounts for approximately 3% of the total daily turnover of the Exchange with 32,359 client relationships and 70 branches spread across the country as of April 30,
2004.
INDIABULLS CREDIT SERVICES LIMITED:- Indiabulls Credit Services has been valued at Rs. 263 crore with the Rs. 87.6-crore
the recently formed subsidiary of broking firm, Indiabulls Financial Services Ltd. Faralon Capital, a San Francisco-based private equity fund, and its affiliates have acquired 33.3 per cent stake for Rs 87.6 crore. INDIABULLS REAL ESTATE: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 became the first company to bring FDI in Indian Real Estate through a JV with Farallon Capital Management, a respected US based investment firm.
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PRODUCT OFFERED BY INDIA BULLS Equity & Debt Stock Broking Insurance Commodity trading Depository Services Derivatives Broking Services Equity Research services Mutual Fund Distribution IPO Distribution
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S TRENGTHS
Employees are highly empowered. Strong communication network. Management philosophy and commitment to maximize shareholders returns Upgraded product design and development facilities to develop new products and aid diversification. Ongoing activities to support up gradation of operational performance and rise in productivity Team of talented and committed professionals available to improve companys performance weakness. Good co-operation between employees. Number 1 registrar and transfer agent in India. Number 1 dealer of investment products in India
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W EAKNESS
Competition from cheap imports Low customer base. High employee turnover.
O PPORTUNITIES
Growth rate of mutual fund industry is 40 to 50% during last year and it expected that this rate will be maintained in future also. Marketing at rural and semi-urban areas.
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REVIEW OF LITERATURE
According to SEBI, Professional Rating of market intermediaries, as a concept, is a matter of debate and discussions. The need for rating is felt not only from the point of view of greater disclosure requirements for investors interests, considering the important role such intermediaries play, being an interface between investors and exchanges but also from the point of view of measuring the adequacy of systems and controls to meet internal as well as external compliance requirements.
So that need for Intermediaries Rating services (Brokers), In view of the developments that are taking place in the capital markets, the need to constantly upgrade and improve systems and procedures in operation as well as skill sets has gained considerable importance. Besides compliance with regulatory requirements both in letter and spirit has assumed significance so as to mitigate risk and ensure adequate protection of investors interest.
And Rating objectives / benefits are rated entity would be in a position to brand its image and capitalize the same for generating more business. In a nutshell, the product may accrue significant benefits to all stakeholders including the investors, stock brokers themselves, the regulator and others who will benefit from the transparency and the consequential focus on efficiency.
According to SEBI and Intermediaries Regulation and Supervision Department, different factors are consider for rating process Organization structure, Policy on Investors interest, Risk Management Policy and System, Organization process and procedures, Management policy on compliance, Financials, History/Background, Firms positioning.
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Trading the Trend: The Only Way to Make Money in the Market
If you dont know this already, Trend Trading means trading trends based on human emotions. Not lagging indicators. Not complex statistical analysis and not Ph.D. level mathematical equations. With trend trading, you look for market movement. That could mean stocks that are going to move up or down during the course of a day (intraday). Youll play the gaps up and down, often several days a week. The Trend trading means being aware and taking advantage of trends like the run-ups that happen around earning sessions. These are trends that have worked time and time again in the market. They consistently yield results.
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RESEARCH METHODOLOGY
Objective Of Research
Each research study has its own specific purpose. It is like to discover to Question through the application of scientific procedure. But the main aim of our research to find out the truth that is hidden and which has not been discovered as yet. Our research study has two objectives:-
PRIMARY OBJECTIVE: How Sharekhan Ltd is best service provider as a stock broker in the Delhi(NCR) region.
SECONDARY OBJECTIVE: 1. To know about the awareness towards stock brokers and share market. 2. To study about the competitive position of Sharekhan Ltd in Competitive Market. 3. To study about the effectiveness & efficiency of Sharekhan Ltd in relation to its competitors 4. To study about whether people are satisfied with Sharekhan Services & Management System or not 5. To study about the difficulties faced by persons while Trading in Sharekhan. 6. To study about the need of improvement in existing Trading system.
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TYPES OF RESEARCH
On the basis of theoretical study a research has many types. All of these are distributed on the nature of research. Some of these are like 1. Descriptive and Analytical 2. Qualitative and Quantitative 3. Conceptual and empirical 4. Applied and fundamental 5. One time research Our research is based on Descriptive, Qualitative and Quantitative research.
Descriptive Research: - Descriptive research includes surveys and fact finding enquires
of different kinds. The major purpose of descriptive research is description of the state of affairs as it exists at present. Researcher has no control over the variables of this type of research.
Qualitative Research: -
brokers. So this based on all qualitative data. In short, Qualitative research is especially important in the behavioral sciences where the aim is to discover the underline motives of human behavior. Through such research we can analyses various factors which motivate to people to behave in a particular manner or which make people like or dislike a particular thing.
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SAMPLE DESIGN
A sample design is a definite plan for obtaining a sample from a given population. It refers to the technique or the procedure the researcher would adopt in selecting item for the sample Generally Sample designs are two types 1. PROBABILITY RESEARCH DESIGN 2. NON PROBABILITY RESEARCH DESIGN We used the probability research design.
SAMPLING UNITS
Sampling unit may be a geographical one, such as state, district, village etc. The researcher will have to decide one or more of such units that he has to select for his study.
SIZE OF SAMPLE
This refers to the number of items to be selected from the universe to constitute a sample
The sample size in this project is 50. But we also study the 5 stock broker companies related to security & commodity market like India-infoline, ICICI direct, HDFC securities, Karvy consultant ltd. for the appropriate collection of the information.
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1. Primary Data
The Primary Data Is Collected Using Sampling Method And By Survey Using Questionnaire.
2. Secondary Data
Secondary data includes information regarding present market scenario, information regarding mutual funds and competitors are collected by internet, magazines and news papers and books.
Survey Method: -
phenomena under study from all or selected number of respondents of the concerned area. In a survey the investigator examines those phenomena which exist in the universe independent of his action. We used the Scheduling Method.
Scheduling: -
put to them the questions from the Performa in the order the questions are listed and recorded the replies in the space meant for the same in the Performa.
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COMPARATIVE ANALYSIS
After the whole study, we find out the following results:
All the figures are in paisa/100 rupees. Comment: - According to the survey HDFC securities charge maximum brokerage as compare to others whereas India Infoline Ltd. charges only 0.20 paisa on maximum investment.
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HDFC securities ltd:Account opening charges w.e.f. April 2005 are as follows:- Rs.749, if the customer has an existing relationship with HDFC
Sharekhan ltd: There is no ACCOUNT OPENING CHARGES but require margin money of Rs 5000 for trading purposes.
ICICI direct: A one-time charge of Rs. 750 at the time of account opening will be charged. You may later upgrade your Invest account to an ICICI direct.com share trading account when you desire to trade in equity.
India Infoline: There is a nominal charge of Rs. 500 only towards stamp duty, legal and processing fees for opening the account. This includes the registration and account opening charges. Bank and Depository Participant (DP) account opening charges, if applicable, are payable separately.
Account Opening Charges Are 452 But now SEBI banned on opening of new demat account of Karvy.
Indiabulls: Account opening charges are Rs. 900. There is no AMC and no margin money is required.
Comment:India Bulls charge maximum account opening charges but there are no such charges in Sharekhan pvt. Ltd.
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Results On The Basis Of Facilities Basis of Sharekhan Karvy India ICICI Indiabulls HDFC difference Ltd. Infoline direct Share trading Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes
No
Yes
Yes
Yes
No
Karvy and HDFC securities are not providing complete range of trading facilities.
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20%
Yes
80%
No
COMMENT
Only 80% people know the exact meaning of investment. Because of remaining 20% take his/her residential property as an investment. According to law purpose this is not an investment because of it is not create any profit for the owner.
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24% 28%
4% 20% 20% 4% 50
4% 20% 20%
Banks
24%
28%
4%
COMMENT
Today in the changing scenario, people are more interested in derivatives & securities markets. According to the above graph, it can be seen that out of total responses, 28% goes in favor of derivatives & securities market. 24% are interested in bank securities, 20% are interested in bond and real estate, and a very small amount of consumers are interested to invest into insurance securities.
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5% 20% 10%
10%
30%
25%
COMMENT: -
75% people are interested in liquidity, returns and tax benefits. And
remaining 25% are interested in capital appreciations, risk covering, and others.
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4. Most important things you take into your mind while making investments?
FACTOR Risk Returns Both TOTAL %AGE 8% 17% 75% 50
COMMENT:75% people are considered the both factors risk as well as returns but, only 25% considered the risk or returns factor.
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5. Awareness related to security markets KNOWLEDGE Complete Partial Nil TOTAL PERCENTAGE 8% 75% 17% 50
17%
COMMENT
On that basis, we conclude that 17% people know nothing about the securities investments and 75% people have partial knowledge about it, so, some promotional activities are required for increasing the awareness about security market.
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6.
Do you have any de-mat & trading account? ACCOUNTS Yes No TOTAL PERCENTAGE 60% 40% 50
40% 60%
Yes No
COMMENT
Only 75% respondents have de-mat and trading account and remaining 25% says no because they dont know why shares move up and down.
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7. In which company you have demat and trading account? COMPANY SHAREKHAN INDIAINFOLINE ICICI DIRECT INDIA BULLS KARVY Others TOTAL PERCENTAGE 38% 20% 14% 12% 9% 7% 50
9% 12% 14%
7%
SHAREKHAN
38%
20%
KARVY Others
(FIG.13 SHOWING COMPANIES IN WHICH PEOPLE HAVE TRADING & DEMAT ACCOUNT)
COMMENT
In Sharekhan Ltd 38% respondents have de-mat & trading account because of better services and no annual maintenance and other charges, 20% are with indiainfoline because of their web portal 5paisa.com, 14% are with ICICI Direct because they have their accounts in ICICI bank.
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8. Are you satisfied with your present broking firm? SATISFACTION YES NO TOTAL PERCENTAGE 58% 42% 50
COMMENT
Result shows that 58% of the customers are satisfied with their brokerage house remaining 42% of the customers include those who dont use their account very much or use it very rarely it also include person who are looking for a better option.
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9. Specify the reason of satisfaction with the current broking house. SATISFACTION Operating expenses Services Brokerage TOTAL PERCENTAGE 18% 25% 57% 50
18%
Operating expenses
57%
25%
Services Brokerage
COMMENT
According to the above graph it shows that 57% of the clients are satisfied because of the brokerage that they charge, 25% of clients are satisfied because of the services that they are given, and 18% because their operating expenses are low.
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FINDINGS
According to the survey most of the customers of Sharekhan Ltd says that it is pocket friendly. Coming to faith 70% say Sharekhan Ltd is better than others stock brokers due to customers satisfaction. Lack of promotional activities undertaken by Sharekhan securities Ltd. in Delhi Region. Main purposes of investments are returns & liquidity. Investors take risk as well as returns into their mind while making the investment. Businessmen are more interested in the stock market than the others. Commodity market is less preferred by the investors as it needs huge capital base. People want to invest their money in the security market but most of them dont have proper knowledge. People are not aware of hedging in stock market. People pay more emphasis on brokerage than service provided by brokerage houses.
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Chapter10 SUGGESTIONS
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SUGGESTIONS
Commitment should be equalized for every person in terms of commission and all other services regardless of their margins deposited as every person invest according to his pocket and amout of money invested is worth for him/her. Provide the facility of free demonstrations for all. SHAREKHAN actively does this by arranging online training facilities for every customer. Improvement in the opening of De-mat & contract notice procedure is required. There should be a limited number of clients under the relationship manager. So that he can handle new as well as old customer properly. Some promotional activities are required for the awareness of the customer. People at young age should be encouraged to invest in stock market. Seminars should be held for providing information to prospective and present customers.
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Chapter11 LIMITATIONS
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LIMITATIONS
As only Delhi dealt in survey so it does not represent the view of the total Indian market. Size of the research may not be substantial. There was lack of time on the part of respondents. The survey was carried through questionnaire and the questions were based on perception. There may be biasness in information by market participant. Complete data was not available due to company privacy and secrecy.
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Chapter12 CONCLUSION
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CONCLUSION
On the basis of the study it is found that Sharekhan Ltd is better services provider than the other stockbrokers because of their timely research and personalized advice on what stocks to buy and sell. Sharekhan Ltd. provides the facility of Trade tiger as well as relationship manager facility for encouragement and protects the interest of the investors. It also provides the information through the internet and mobile alerts that what IPOs are coming in the market and it also provides its research on the future prospect of the IPO. Study also concludes that people are not much aware of commodity market and while its going to be biggest market in India. The company should also organize seminars and similar activities to enhance the knowledge of prospective and existing customers, so that they feel more comfortable while investing in the stock market.
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BIBLIOGRAPHY
BERI G C.-MARKETING RESEARCH NEW DELHI, TATA Mc GRAW-HILL PUBLISHING COMPANY LIMITED 1st EDITION PG 288 4TH EDITION PG 70 KOTHARI C.R. - RESEARCH METHODOLOGY NEW AGE INTERNATIONAL LTD.
Magazines
VALUELINE (SHAREKHAN MONTHLY RESEARCH MAGAZINE) CAPITAL MARKET (5PAISA.COM), NEW DELHI. THE FINAPOILS (YOUR PERSONAL FINANCE ADVISOR FROM KARVY)
Webliography
http://WWW.MONEYCONTROL.COM http://WWW.CAPITALINE.COM http://WWW.SHAREKHAN LTD.COM http://WWW.INDIAINFOLINE.COM http://WWW.ICICIDIRECT.COM http://WWW.HDFCSECURITY.COM http://WWW.KARVY.COM http://WWW.BSEINDIA.COM http://ECONOMICTIMES.INDIATIMES.COM
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ANNEXURE
QUESTIONAIRE DATE:
2) Do you know about the different types of investment alternatives? a) Insurance & mutual funds c) Real estate e) Commodity b) Banks d) Share market f) Others
3) What is the basic purpose of your investment? a) Liquidity c) Capital appreciation b) Returns d) Risk covering e) Tax benefits
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4) What are the most important things you take into account, while making any investment? a) Risk b) Returns c) Both
7) In which company you have D-mat & Trading account? a) Sharekhan Ltd c) Indiainfoline e) Indiabulls g) Others b) Karvy d) ICICI direct f) HDFC securities
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9) What is the reason? Please specify. a) Services: b) Brokerage: c) Operating expenses: d) Others:
10) What is your trading exchange preference? a) NSE c) MCX b) BSE d) NCDEX
Suggestion:-
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