You are on page 1of 20

INTRODUCTION In general, the financial market divided into two parts, Money market and capital market.

Securities market is an important, organized capital market where transaction of capital is facilitated by means of direct financing using securities as a commodity. Securities market can be divided into a primary market and secondary market. PRIMARY MARKET The primary market is an intermittent and discrete market where the initially listed shares are traded first time, changing hands from the listed company to the investors. It refers to the process through which the companies, the issuers of stocks, acquire capital by offering their stocks to investors who supply the capital. In other words primary market is that part of the capital markets that deals with the issuance of new securities. Companies, governments or public sector institutions can obtain funding through the sale of a new stock or bond issue. This is typically done through a syndicate of securities dealers. The process of selling new issues to investors is called underwriting. In the case of a new stock issue, this sale is called an initial public offering (IPO). Dealers earn a commission that is built into the price of the security offering, though it can be found in the prospectus. SECONDARY MARKET The secondary market is an on-going market, which is equipped and organized with a place, facilities and other resources required for trading securities after their initial offering. It refers to a specific place where securities transaction among many and unspecified persons is carried out through intermediation of the securities firms, i.e., a licensed broker, and the exchanges, a specialized trading organization, in accordance with the rules and regulations established by the exchanges. A bit about history of stock exchange they say it was under a tree that it all started in 1875.Bombay Stock Exchange (BSE) was the major exchange in India till 1994.National Stock Exchange (NSE) started operations in 1994. NSE was floated by major banks and financial institutions. It came as a result of Harshad Mehta scam of 1992. Contrary to popular belief the scam was more of a banking scam than a stock market scam. The old methods of trading in BSE were people assembling on what as called a ring in the BSE building. They had a unique sign language to communicate apart from all the shouting. Investors weren't

allowed access and the system was opaque and misused by brokers. The shares were in physical form and prone to duplication and fraud. NSE was the first to introduce electronic screen based trading. BSE was forced to follow suit. The present day trading platform is transparent and gives investors prices on a real time basis. With the introduction of depository and mandatory dematerialization of shares chances of fraud reduced further. The trading screen gives you top 5 buy and sell quotes on every scrip. A typical trading day starts at 10 ending at 3.30. Monday to Friday. BSE has 30 stocks which make up the Sensex .NSE has 50 stocks in its index called Nifty. FII s Banks, financial institutions mutual funds are biggest players in the market. Then there are the retail investors and speculators. The last ones are the ones who follow the market morning to evening; Market can be very addictive like blogging though stakes are higher in the former. ORIGIN OF INDIAN STOCK MARKET The origin of the stock market in India goes back to the end of the eighteenth century when long-term negotiable securities were first issued. However, for all practical purposes, the real beginning occurred in the middle of the nineteenth century after the enactment of the companies Act in 1850, which introduced the features of limited liability and generated investor interest in corporate securities. An important early event in the development of the stock market in India was the formation of the native share and stock brokers 'Association at Bombay in 1875, the precursor of the present day Bombay Stock Exchange. This was followed by the formation of associations/exchanges in Ahmedabad (1894), Calcutta (1908), and Madras (1937). In addition, a large number of ephemeral exchanges emerged mainly in buoyant periods to recede into oblivion during depressing times subsequently. Stock exchanges are intricacy inter-woven in the fabric of a nation's economic life. Without a stock exchange, the saving of the community- the sinews of economic progress and productive efficiency- would remain underutilized. The task of mobilization and allocation of savings could be attempted in the old days by a much less specialized institution than the stock exchanges. But as business and industry expanded and the economy assumed more complex nature, the need for 'permanent finance' arose. Entrepreneurs needed money for long term whereas investors demanded liquidity the facility to convert their investment into cash at

any given time. The answer was a ready market for investments and this was how the stock exchange came into being. Stock exchange means any body of individuals, whether incorporated or not, constituted for the purpose of regulating or controlling the business of buying, selling or dealing in securities. These securities include: (i) Shares, scrip, stocks, bonds, debentures stock or other marketable securities of a like nature in or of any incorporated company or other body corporate; (ii)Government securities; and (iii) Rights or interest in securities. The Bombay Stock Exchange (BSE) and the National Stock Exchange of India Ltd (NSE) are the two primary exchanges in India. In addition, there are 22 Regional Stock Exchanges. However, the BSE and NSE have established themselves as the two leading exchanges and account for about 80 per cent of the equity volume traded in India. The NSE and BSE are equal in size in terms of daily traded volume. The average daily turnover at the exchanges has increased from Rs 851 crore in 1997-98 to Rs 1,284 crore in 1998-99 and further to Rs 2,273 crore in 1999-2000 (April - August 1999). NSE has around 1500 shares listed with a total market capitalization of around Rs 9, 21,500 crore. The BSE has over 6000 stocks listed and has a market capitalization of around Rs 9, 68,000 crore. Most key stocks are traded on both the exchanges and hence the investor could buy them on either exchange. Both exchanges have a different settlement cycle, which allows investors to shift their positions on the bourses. The primary index of BSE is BSE Sensex comprising 30 stocks. NSE has the S&P NSE 50 Index (Nifty) which consists of fifty stocks. The BSE Sensex is the older and more widely followed index. Both these indices are calculated on the basis of market capitalization and contain the heavily traded shares from key sectors. The markets are closed on Saturdays and Sundays. Both the exchanges have switched over from the open outcry trading system to a fully automated computerized mode of trading known as BOLT (BSE on Line Trading) and NEAT (National Exchange Automated Trading) System. It facilitates more efficient processing, automatic order matching, faster execution of trades and transparency; the scrip's traded on the BSE have been classified into

'A', 'B1', 'B2', 'C', 'F' and 'Z' groups. The 'A' group shares represent those, which are in the carry forward system (Badla). The 'F' group represents the debt market (fixed income securities) segment. The 'Z' group scrip's are the blacklisted companies. The 'C' group covers the odd lot securities in 'A', 'B1' & 'B2' groups and Rights renunciations. The key regulator governing Stock Exchanges, Brokers, Depositories, Depository participants, Mutual Funds, FIIs and other participants in Indian secondary and primary market is the Securities and Exchange Board of India (SEBI) Ltd. BRIEF HISTORY OF STOCK EXCHANGES Do you know that the world's foremost marketplace New York Stock Exchange (NYSE), started its trading under a tree (now known as 68 Wall Street) over 200 years ago? Similarly, India's premier stock exchange Bombay Stock Exchange (BSE) can also trace back its origin to as far as 125 years when it started as a voluntary non-profit making association. News on the stock market appears in different media every day. You hear about it any time it reaches a new high or a new low, and you also hear about it daily in statements like 'The BSE Sensitive Index rose 5% today'. Obviously, stocks and stock markets are important. Stocks of public limited companies are bought and sold at a stock exchange. But what really are stock exchanges? Known also as the stock market or bourse, a stock exchange is an organized marketplace for securities (like stocks, bonds, options) featured by the centralization of supply and demand for the transaction of orders by member brokers, for institutional and individual investors. The exchange makes buying and selling easy. For example, you don't have to actually go to a stock exchange, say, BSE - you can contact a broker, who does business with the BSE, and he or she will buy or sell your stock on your behalf. MARKET BASICS Electronic trading Electronic trading eliminates the need for physical trading floors. Brokers can trade from their offices, using fully automated screen-based processes. Their workstations are connected to a Stock Exchange's central computer via satellite using Very Small Aperture Terminus (VSATs). The orders placed by brokers reach the Exchange's central computer and are matched electronically.

EXCHANGES IN INDIA The Stock Exchange, Mumbai (BSE) and the National Stock Exchange (NSE) are the country's two leading Exchanges. There are 20 other regional Exchanges, connected via the Inter-Connected Stock Exchange(ICSE). The BSE and NSE allow nationwide trading via their VSAT systems. INDEX An Index is a comprehensive measure of market trends, intended for investors who are concerned with general stock market price movements. An Index comprises stocks that have large liquidity and market capitalization. Each stock is given a weight age in the Index equivalent to its market capitalization. At the NSE, the capitalization of NIFTY (fifty selected stocks) is taken as a base capitalization, with the value set at 1000. Similarly, BSE Sensitive Index or Sensex comprises 30 selected stocks. The Index value compares the day's market capitalization vis--vis base capitalization and indicates how prices in general have moved over a period of time. EXECUTE AN ORDER Select a broker of your choice and enter into a broker-client agreement and fill in the client registration form. Place your order with your broker preferably in writing. Get a trade confirmation slip on the day the trade is executed and ask for the contract note at the end of the trade date. NEED A BROKER As per SEBI (Securities and Exchange Board of India.) regulations, only registered members can operate in the stock market. One can trade by executing a deal only through a registered broker of a recognized Stock Exchange or through a SEBIregistered sub-broker. CONTRACT NOTE A contract note describes the rate, date, time at which the trade was transacted and the brokerage rate. A contract note issued in the prescribed format establishes a legally enforceable relationship between the client and the member in respect of trades stated in the contract note. These are made in duplicate and the member and the client both keep a copy each. A client should receive the contract note within 24 hours of the executed trade. Corporate Benefits/Action.

SPLIT A Split is book entry wherein the face value of the share is altered to create a greater number of shares outstanding without calling for fresh capital or altering the share capital account. For example, if a company announces a two-way split, it means that a share of the face value of Rs 10 is split into two shares of face value of Rs 5 each and a person holding one share now holds two shares. BUY BACK As the name suggests, it is a process by which a company can buy back its shares from shareholders. A company may buy back its shares in various ways: from existing shareholders on a proportionate basis; through a tender offer from open market; through a book-building process; from the Stock Exchange; or from odd lot holders. A company cannot buy back through negotiated deals on or off the Stock Exchange, through spot transactions or through any private arrangement. SETTLEMENT CYCLE The accounting period for the securities traded on the Exchange. On the NSE, the cycle begins on Wednesday and ends on the following Tuesday, and on the BSE the cycle commences on Monday and ends on Friday. At the end of this period, the obligations of each broker are calculated and the brokers settle their respective obligations as per the rules, bye-laws and regulations of the Clearing Corporation. If a transaction is entered on the first day of the settlement, the same will be settled on the eighth working day excluding the day of transaction. However, if the same is done on the last day of the settlement, it will be settled on the fourth working day excluding the day of transaction. ROLLING SETTLEMENT The rolling settlement ensures that each day's trade is settled by keeping a fixed gap of a specified number of working days between a trade and its settlement. At present, this gap is five working days after the trading day. The waiting period is uniform for all trades. In a Rolling Settlement, all trades outstanding at end of the day have to be settled, which means that the buyer has to make payments for securities purchased and seller has to deliver the securities sold. In India, we have adopted the T+5 settlement cycle, which means that a transaction entered into on

Day 1 has to be settled on the Day 1 + 5 working days, when funds pay in or securities pay out takes place. STOCK & EXCHANGE BOARD OF INDIA REGULATION OF BUSINESS IN THE STOCK EXCHANGES Under the SEBI Act, 1992, the SEBI has been empowered to conduct inspection of stock exchanges. The SEBI has been inspecting the stock exchanges once every year since 1995-96. During these inspections, a review of the market operations, organizational structure and administrative control of the exchange is made to ascertain whether:

the exchange provides a fair, equitable and growing market to investors the exchange's organization, systems and practices are in accordance with the Securities Contracts (Regulation) Act (SC(R) Act), 1956 and rules framed there under the exchange has implemented the directions, guidelines and instructions issued by the SEBI from time to time The exchange has complied with the conditions, if any, imposed on it at the time of renewal/ grant of its recognition under section 4 of the SC(R) Act, 1956.

During the year 1997-98, inspection of stock exchanges was carried out with a special focus on the measures taken by the stock exchanges for investor's protection. Stock exchanges were, through inspection reports, advised to effectively follow-up and redress the investors' complaints against members/listed companies. The stock exchanges were also advised to expedite the disposal of arbitration cases within four months from the date of filing. During the earlier years' inspections, common deficiencies observed in the functioning of the exchanges were delays in post trading settlement, frequent clubbing of settlements, delay in conducting auctions, inadequate monitoring of payment of margins by brokers, non-adherence to Capital Adequacy Norms etc. It was observed during the inspections conducted in 1997-98 that there has been considerable improvement in most of the areas, especially in trading, settlement, collection of margins etc.

Stock markets refer to a market place where investors can buy and sell stocks. The price at which each buying and selling transaction takes is determined by the market forces (i.e. demand and supply for a particular stock). Let us take an example for a better understanding of how market forces determine stock prices. ABC Co. Ltd. enjoys high investor confidence and there is an anticipation of an upward movement in its stock price. More and more people would want to buy this stock (i.e. high demand) and very few people will want to sell this stock at current market price (i.e. less supply). Therefore, buyers will have to bid a higher price for this stock to match the ask price from the seller which will increase the stock price of ABC Co. Ltd. On the contrary, if there are more sellers than buyers (i.e. high supply and low demand) for the stock of ABC Co. Ltd. in the market, its price will fall down. In earlier times, buyers and sellers used to assemble at stock exchanges to make a transaction but now with the dawn of IT, most of the operations are done electronically and the stock markets have become almost paperless. Now investors dont have to gather at the Exchanges, and can trade freely from their home or office over the phone or through Internet. HISTORY OF THE INDIAN STOCK MARKET - THE ORIGIN One of the oldest stock markets in Asia, the Indian Stock Markets have a 200 years old history. 18th Century East India Company was the dominant institution and by end of the century, busuness in its loan securities gained full momentum 1830'sBusiness on corporate stocks and shares in Bank and Cotton presses started in Bombay. Trading list by the end of 1839 got broader 1840'sRecognition from banks and merchants to about half a dozen brokers 1850'sRapid development of commercial enterprise saw brokerage business attracting more people into the business 1860'sThe number of brokers increased to 60

1860-61 The American Civil War broke out which caused a stoppage of cotton supply from United States of America; marking the beginning of the "Share Mania" in India 1862-63 The number of brokers increased to about 200 to 250

1865 A disastrous slump began at the end of the American Civil War (as an example, Bank of Bombay Share which had touched Rs. 2850 could only be sold at Rs. 87) PRE-INDEPENDANCE SCENARIO - ESTABLISHMENT OF DIFFERENT STOCK EXCHANGES

1874 With the rapidly developing share trading business, brokers used to gather at a street (now well known as "Dalal Street") for the purpose of transacting business. 1875 "The Native Share and Stock Brokers' Association" (also known as "The Bombay Stock Exchange") was established in Bombay 1880'sDevelopment of cotton mills industry and set up of many others 1894 Establishment of "The Ahmedabad Share and Stock Brokers' Association" 1880 - 90's Sharp increase in share prices of jute industries in 1870's was followed by a boom in tea stocks and coal 1908 "The Calcutta Stock Exchange Association" was formed 1920 Madras witnessed boom and business at "The Madras Stock Exchange" was transacted with 100 brokers. 1923 When recession followed, number of brokers came down to 3 and the Exchange was closed down 1934 Establishment of the Lahore Stock Exchange 1936 Merger of the Lahoe Stock Exchange with the Punjab Stock Exchange

1937 Re-organisation and set up of the Madras Stock Exchange Limited (Pvt.) Limited led by improvement in stock market activities in South India with establishment of new textile mills and plantation companies 1940 Uttar Pradesh Stock Exchange Limited and Nagpur Stock Exchange Limited was established 1944 Establishment of "The Hyderabad Stock Exchange Limited" 1947 "Delhi Stock and Share Brokers' Association Limited" and "The Delhi Stocks and Shares Exchange Limited" were established and later on merged into "The Delhi Stock Exchange Association Limited" POST INDEPENDANCE SCENARIO The depression witnessed after the Independance led to closure of a lot of exchanges in the country. Lahore Estock Exchange was closed down after the partition of India, and later on merged with the Delhi Stock Exchange. Bnagalore Stock Exchange Limited was registered in 1957 and got recognition only by 1963. Most of the other Exchanges were in a miserable state till 1957 when they applied for recognition under Securities Contracts (Regulations) Act, 1956. The Exchanges that were recognized under the Act were: 1. Bombay 2. Calcutta 3. Madras 4. Ahmedabad 5. Delhi 6. Hyderabad 7. Bangalore 8. Indore Many more stock exchanges were established during 1980's, namely: 1. 2. 3. 4. 5. Cochin Stock Exchange (1980) Uttar Pradesh Stock Exchange Association Limited (at Kanpur, 1982) Pune Stock Exchange Limited (1982) Ludhiana Stock Exchange Association Limited (1983) Gauhati Stock Exchange Limited (1984)

6. Kanara Stock Exchange Limited (at Mangalore, 1985) 7. Magadh Stock Exchange Association (at Patna, 1986) 8. Jaipur Stock Exchange Limited (1989) 9. Bhubaneswar Stock Exchange Association Limited (1989) 10.Saurashtra Kutch Stock Exchange Limited (at Rajkot, 1989) 11.Vadodara Stock Exchange Limited (at Baroda, 1990) 12.Coimbatore Stock Exchange 13.Meerut Stock Exchange At present, there are twenty one recognized stock exchanges in India which does not include the Over The Counter Exchange of India Limited (OTCEI) and the National Stock Exchange of India Limited (NSEIL). TRADING PATTERN OF THE INDIAN STOCK MARKET
Indian Stock Exchanges allow trading of securities of only those public limited companies that are listed on the Exchange(s). They are divided into two categories:

Trading in Indian stock exchanges are limited to listed securities of public limited companies. They are broadly divided into two categories, namely, specified

securities (forward list) and non-specified securities (cash list). Equity shares of dividend paying, growth-oriented companies with a paid-up capital of atleast Rs.50 million and a market capitalization of atleast Rs.100 million and having more than 20,000 shareholders are, normally, put in the specified group and the balance in non-specified group. Two types of transactions can be carried out on the Indian stock exchanges: (a) spot delivery transactions "for delivery and payment within the time or on the date stipulated when entering into the contract which shall not be more than 14 days following the date of the contract" : and (b) forward transactions "delivery and payment can be extended by further period of 14 days each so that the overall period does not exceed 90 days from the date of the contract". The latter is permitted only in the case of specified shares. The brokers who carry over the outstandings pay carry over charges (cantango or backwardation) which are usually determined by the rates of interest prevailing. A member broker in an Indian stock exchange can act as an agent, buy and sell securities for his clients on a commission basis and also can act as a trader or dealer as a principal, buy and sell securities on his own account and risk, in contrast with the practice prevailing on New York and London Stock Exchanges, where a member can act as a jobber or a broker only. The nature of trading on Indian Stock Exchanges are that of age old conventional style of face-to-face trading with bids and offers being made by open outcry. However, there is a great amount of effort to modernize the Indian stock exchanges in the very recent times. NATIONAL STOCK EXCHANGE (NSE) With the liberalization of the Indian economy, it was found inevitable to lift the Indian stock market trading system on par with the international standards. On the basis of the recommendations of high powered Pherwani Committee, the National Stock Exchange was incorporated in 1992 by Industrial Development Bank of India, Industrial Credit and Investment Corporation of India, Industrial Finance Corporation of India, all Insurance Corporations, selected commercial banks and others. Trading at NSE can be classified under two broad categories: (a) Wholesale debt market and

(b) Capital market. Wholesale debt market operations are similar to money market operations institutions and corporate bodies enter into high value transactions in financial instruments such as government securities, treasury bills, public sector unit bonds, commercial paper, certificate of deposit, etc. There are two kinds of players in NSE: (a) trading members and (b) participants. Recognized members of NSE are called trading members who trade on behalf of themselves and their clients. Participants include trading members and large players like banks who take direct settlement responsibility. Trading at NSE takes place through a fully automated screen-based trading mechanism which adopts the principle of an order-driven market. Trading members can stay at their offices and execute the trading, since they are linked through a communication network. The prices at which the buyer and seller are willing to transact will appear on the screen. When the prices match the transaction will be completed and a confirmation slip will be printed at the office of the trading member. NSE has several advantages over the traditional trading exchanges. They are as follows:

NSE brings an integrated stock market trading network across the nation. Investors can trade at the same price from anywhere in the country since inter-market operations are streamlined coupled with the countrywide access to the securities. Delays in communication, late payments and the malpractices prevailing in the traditional trading mechanism can be done away with greater operational efficiency and informational transparency in the stock market operations, with the support of total computerized network.

Unless stock markets provide professionalised service, small investors and foreign investors will not be interested in capital market operations. And capital market

being one of the major source of long-term finance for industrial projects, India cannot afford to damage the capital market path. In this regard NSE gains vital importance in the Indian capital market system. Trading at NSE Fully automated screen-based trading mechanism Strictly follows the principle of an order-driven market Trading members are linked through a communication network This network allows them to execute trade from their offices The prices at which the buyer and seller are willing to transact will appear on the screen When the prices match the transaction will be completed A confirmation slip will be printed at the office of the trading member

ADVANTAGES OF TRADING AT NSE Integrated network for trading in stock market of India Fully automated screen based system that provides higher degree of transparency Investors can transact from any part of the country at uniform prices Greater functional efficiency supported by totally computerized network

COMPANY PROFILE: NAVIA MARKETS Navia Markets Ltd, founded in 1983, is a well established financial services firm, that provides brokerage services for stocks, currencies and commodities, besides distributing a range of financial products to its clients. Navia ventured into the brokerage business in the mid 90s with a mission to empower investors by making investing safe, transparent and convenient. Navia has a well established presence across South India with a satisfied investor base of over 20000, serviced through its network of 175 Branches/ Sub-Broker outlets and its online portal, www.naviamarkets.com. The company provides a wide range of financial services starting from Equity Trading, Currency Derivative Trading and Commodity Trading to Depository Services, Research, IPO, Mutual Fund and Insurance Distribution services. Navia's employees are professional in approach and are committed to its shared values, Viz, Integrity, Customer Centricity, Long- Term Perspective, Passion to Excel, People Development and Total Compliance. The Company enjoys the patronage of clients residing not just in India but also NRIs and PIOs residing across the globe. Navia is known for the 3 T's Technology, Transparency in dealing with its customers and partners and the Trust that it enjoys with customers and partners. Navia pioneered the use of several new technologies, principal among which was an online order routing system that enables the clients and sub-brokers to trade electronically over a wide area of closed user group. The ITMS system as it was called in late 90's combined the expertise of IBM's Belgian subsidiary and Navia to create an entirely new front end system as an alternative to the NSE's NEAT terminal. Navia launched its Web Portal www.naviamarkets.com in the millennium year 2000 to enable Resident Indians, Non Resident Indians (NRIs) and Persons of Indian Origin (PIOs) for seamless Internet Trading. The Web portal provides the investors with all the information they would require to invest in Equity, Derivative, Currency, Commodity, Mutual Fund and IPO. The company has a strong Back Office System through which transactions are carried out efficiently under safe and secured environment. It's robust Back end and Front end solutions backed up by transparency of operations has earned the trust of its clients and business partners over the years. Today Navia enjoys the patronage of clients

residing across the globe in countries like United Arab Emirates, United Kingdom, Sultanate of Oman, Saudi Arabia, Kuwait, United States of America, Canada, Singapore, Malaysia, Australia, New Zealand and Japan.

MANAGEMENT: Mr. Jawahar Vadivelu, Chairman : Holds MBA degrees from the Asian Institute of Management, Philippines, and from the Booth School of Business, University of Chicago. Also the President of the Southern India Chamber of Commerce & Industry, member of the national executive committee of FICCI, and serves on the governing councils of the Indian Council of Arbitration, Chennai Mathematical Institute, Sri Venkateswara College of Engineering & The Business School of the University of Victoria, British Columbia, Canada. Mr.Hozefa S K, CEO : Holds a BE degree with specialization in Electronics and Communication and PGDBA degree in Finance and Information technology. Also a Chartered Financial Analyst with industry experience of over 10 years in financial planning and wealth management. Mr.R.Ravi, Director : Master of Law and a fellow member of the Institute of Company Secretaries of India has over 30 years of wide range of experience in the industry. Mr. Ravi is also the Managing Director of Cameo Corporate Services Limited which has diversified business interests in registry and share transfer, BPO services, Securities Vault, Transcription Services, Document imaging and IT Enabled Services. Key Land marks Pioneered the CTCL revolution in 1997 Launched Online Web Portal www.naviamarkets.com in the year 2000 Introduced Online Trading facility in Equity for Resident Indians during the year 2000 Became the first Stock broker in the year 2000 to provide Online Trading in Equity for

NRIs and PIOs. Launched Online Helpdesk in the year 2000 to enable clients avail online assistance through Live Chat utility Introduced Online Trading in Derivative segment for Resident Indians in the year 2003 First Broker in India to Introduce Online Trading in Derivatives (Futures & Options) for NRIs and PIOs in the year 2004 Introduced Online Investment Platform for Mutual Fund(MF) and Initial Public Offer(IPO) investments in India for Resident Indians and NRIs in year 2006 Launched Priority Service Desk to meet the specific requirements of HNIs in 2007 Introduced Zero Brokerage Schemes in the year 2008 Launched Online Trading facility in Currency Derivative segment in India through NSE during the year 2009 Launched Online Trading facility in Commodity segment through MCX in the year 2009 Became the first Stock Broker to provide Tamil Web Service through its portal www.tamil.naviamarkets.com in the year 2009 Navia Products: Equity: Navia offers the investor the opportunity to invest and trade in Equity segment of Primary Market and Secondary market. Navia offers full suite of equity related investment products and risk management. Navia offers comprehensive Online and Offline Trading Services to Resident Indians, Non Resident Indians and Persons of Indian Origin. Navia, backed by a professional team and strong technology helps the investor get the added edge for better quality and faster service. With a strong focus on retail segment, Navia is on a much better platform to understand and satisfy the needs of the retail investor. The clients have wide range of trading products to choose from at relatively low rates. Investment in India has been made very easy and enjoyable

for Resident Indians, NRIs and PIOs at Navia through quality Customer Service and Robust Systems. DERIVATIVE: The Indian Markets saw the introduction of Derivative Instruments (Futures and Options) to provide Investing community a range of services to choose from. Leveraging on its experience in Cash segment, Navia is one of the first few Broking companies to offer the investor the opportunity to trade in F&O segment. Navia is one of the very few brokers in India to offer Derivative Trading facility to NRIs and PIOs DERIVATIVE TRADING PRODUCTS Margin :Under this Product the client can take positions based on SPAN availability in the account. Intraday-F&O:Under this product clients can take an intraday exposure of 10 times the cash balance in Stock Futures Intraday-Index:Under this product the client can take exposure upto 20 times of cash availability on Index Futures. Currency trading: Navia introduced Currency Trading to complete the suite of instruments available for trading and hedging in Indian Financial Markets. Navia is one of the early entrants in Currency Derivative Trading segment. The company provides both Online Trading and Offline Trading facility in Currency Trading segment. Depositary Trading: Being one of the early entrants to the Depository business, Navia developed the necessary experience and expertise in Demat Services. Opening a Demat Account with Navia provides the client the dual advantage of Demat and Broking Account under the same roof, thus providing the client easy access and convenience when it comes to buying and selling of shares. Navia is one of the most preferred Depository service providers because.. The company has more than 15 years of experience in the Depository Services Prompt Account opening and quick Execution of Transactions

Most Reliable Service provider in South India for Resident Indians, NRIs and PIOs Transparency in services Highly systems driven , hence no manual intervention Mutual Funds: Navia has tied up with all the leading AMCs for its Mutual Fund Distribution services. Through Navia one can invest in all the Mutual Fund schemes with utmost convenience. Online Investment : Navia gives its clients the option of investing in Mutual Funds either Online or Offline. Non Resident Indians (NRIs) and Persons and Indian Origin (PIOs) can also invest online in Mutual Funds of India without any paper work with or without the benefits of repatriation. Clients of Navia have an unique advantage of subscribing to NFOs as well online. Navias MF Desk provides personalized services to its clients and ensures that they take well informed MF investment decisions. NRI Services Navias NRI Desk was launched in the year 2000 to assist NRIs and PIOs invest in shares and Mutual Fund. The company was the first Stock Broker in India to provide Online Trading facility to NRIs and PIOs in Equity and Derivative segments. Navia is one-stop-solution for all investment requirements in Indian Capital Market. Through Navia NRIs and PIOs can invest in both Primary Market and Secondary Market. Navia has the patronage of NRIs and PIOs residing in countries like UAE. USA, UK, Singapore, Malaysia, Saudi Arabia, Germany, Ireland, Japan, Australia and New Zealand. Through Navia a Non Resident Indians and Persons of Indian Origin can... Invest and Trade in Shares listed in National Stock Exchange Trade in Futures & Options ( Derivatives) Invest in Mutual Fund Invest in IPO Invest/Trade Online in all the above

Dematerialise physical certificates and liquidate Exercise ESOPs, liquidate and repatriate Uniqueness: Experience in Stock Broking spans over 15 years

World Class Back end & Front end Systems Quick Account Opening Complete Financial Services Provider to Resident Indians, NRIs and PIOs Trusted, Friendly and Consistent Customer Support Unbiased Research Recommendations Brokerage Schemes to suit clients of all trading profiles Online Trading Platform with wide range of products for beginners and versatile traders Latest Market Updates in English and Tamil Client Service in English, Tamil, Hindi, Telugu and Malayalam