‘A comparative study on services provided by the different broking firms’
PROJECT SURVEY REPORT Submitted To ICFAI NATIONAL COLLEGE, BIKANER For the Degree Of
“MASTER OF BUSINESS ADMINISTRATION” ADMINISTRATION” By
Rajesh Prajapat INC, Bikaner (6nd11912)
Under Guidance of Mrs. Ritu S Sisodia Faculty of INC, Bikaner
ICFAI NATIONAL COLLEGE, BIKANER 2006-2008
ACKNOWLEDGEMENT It is great pleasure for me to express my hearty and sincere gratitude to my Faculty Guide, Mrs. Ritu S Sisodia. Faculty of Marketing of INC, Bikaner. Under whose genuine and inspiring guidance the present piece of investigation could get its present shape within such a limited range of time. The investigator feels his duty to express his sincere thanks to Ms. Krati Taldar and Ms. Chanchal Sharma Faculty of INC, Bikaner for their suggestions, encouragement and help. Specia Speciall thanks thanks are also also due to all the employ employees ees,, custom customers ers for their precious precious cooperation provided to the investigator during the period of data collection. I am thankful to my brother & my friends. Their inspirations, affection, care and whose blessings have given me necessary enthusiasm and e ncouragement to complete this work. At last but not the least I express my thanks to Mr. Aswani Diwakar , IT Faculty of INC, Bikane Bikaner. r. for providi providing ng suppor supportt in formatt formatting ing and writin writing g
this this report report and giving giving me
assistance as and when required..
Place: Bikaner Date:
Rajesh Prajapat INC Bikaner (6ND11912)
TABLE OF CONTENTS
Particulars
Acknowledgment ----------------------------------------------------------------------------------List of Tables& Figures ………………………………………………………………..
Chapter -I……………………………………………………………………………..
Introduction
1.1 Introducti Introduction on to the Stock Broking Broking Houses 1.2 Introducti Introduction on of the Broking Firms Firms 1.3 Introducti Introduction on to the Subject Subject II……………………………………………………………………... ……………………... CHAPTER – II……………………………………………… PROJECT PROFILE
2.1 Title of the Study 2.2 Objective of the Study 2.3 Significance of the study 2.4 Use of Research Method and Design 2.5 Population and Selection of Sample 2.6 Instrumentation 2.7 Data Collection 2.8 Introduction to Psychometric Test 2.9 Scope of the Study, and 2.10 Limitations of the Project – Study
CHAPTER -III CHAPTER -III…………………………………………………………………….. Figures and findings
3.1 Introduction 3.2 Findings from Questionnaires CHAPTER – IV ……………………………………………………………………. REPORT OF THE PROJECT
4.1 Conclusions 4.2 Recommandations & Suggestions BIBILIOGRAPHY ………………………………………………………………… ANNEXTURES ……………………………………………………………………...
LIST OF TABLES & FIGURES FIGU RES
-----------------------------------------------------------------------------------------------------------Table No.
Particulars
3.1
Various accounts of customers in all broking firms
3.2
Market share of all broking firms
3.3
Comparison of broking charges of all broking firms
3.4
Comparison of A/C opening charges of all broking firms
CHAPTER – I Introduction
1.4 Introducti Introduction on to the Stock Broking Broking Houses 1.5 Introducti Introduction on of the Broking Firms Firms 1.6 Introducti Introduction on to the Subject Subject
Object Objective ive of Stock Stock Broking Broking Firms Firms
Broking Firms A transaction on a stock exchange must be made between two members of the exchange — a typical person may not walk into the New York Stock Exchange (for example), and ask to trade stock. Such an exchange must be done through a broker. There are three types of stock broking service. •
Execution-only, which means that the broker will only carry out the client's instructions to buy or sell.
•
Advisory dealing, where the broker advises the client on which shares to buy and sell, but leaves the final decision to the investor.
•
Discretionary dealing, where the stockbroker ascertains the client's investment objectives and then makes all dealing decisions on the client's behalf.
In addition to actually trading stocks for their clients, stock brokers may also offer advice to their clients on which stocks, mutual funds, etc. to buy.
Definition of Stock Broker All stock investors have one thing in common, whether they trade in penny shares or are long-term share investors; they all have to work through stock brokers.
When entering the world of the stock market, choosing a stock broker is your first priority and may be the most important choice you will make. There are many choices in stock brokers and you need to understand understand the key differences differences in each in order to better make your decision.
Traditionally, full-service stock brokers were the only type that was available. They They char charge ged d very very high high comm commis issi sion on fees fees but but also also gave gave a lot lot of help help and and guidance in choosing the right investments. In 1975, all of that changed and the discount stock brokers became the reigning champs of the investing world. In the last decade, the internet has permitted individual investors to research their own potential stocks for themselves, and even buy and sell stocks. There have been advantages to the arrival of the discount stock broker and online brokerage firm, but for some investors it has led to more mistakes in a smaller time. The key is doing your research and investing wisely.
On one end of the spectrum are the discount and online stock brokers. These brokerage firms act as order takers for their investors. The investor places an order on the telephone or online. The only help given is with the technical aspects of the website or the ordering process. There is no guidance given as to which stocks to buy, when to buy or when to sell. Many online brokerage firms offer their members access to stock market research, but this is provided by a third party. The account management tools help you understand how greatly you have have inve invest sted ed and and wher where e it is goin going. g. Thes These e tool tools s are are gene genera rall lly y onli online ne or downl downloa oadab dable. le. The The disco discount unt and and onlin online e stock stock brok brokers ers are for for peop people le eithe either r already familiar with the stock market, or those who do not have much money to invest invest.. They They do requir require e that that the invest investor or spend spend some some time time resear research ching ing and planning their investments. If you are interested in doing your own research or want to dodge hefty brokerage fees than discount and online brokers may be for you.
The next level in service is a discount or online brokerage with an assistance stock broker. The assistance stock broker will give a small amount of help. In online brokerage firms, the assistant stock broker takes the form of offering more research available and newsletters with investing tips. There is still a quantity of research that wants to be done by the individual investor, but these brokerages at least point their clients in the correct direction.
The traditional full service stock broker provides recommendations for specific shares that would be good for your portfolio. The stock broker analyzes your financial situation to figure out your needs. They put together an investing plan that is reviewed periodically and adjusted as needed. Full-service stock brokers are an admirable choice for those who don’t have the time or the interest in staying on top of the newest economic news. The full service stockbroker does all the research for you and presents you with the best investments for your situation. Their clients are handled with awareness to special details and goals. This awareness does come with hefty commission fees, but considering the quantity of work and dedication that full service stock brokers give, these fees are unde underst rstand andab able. le. Tradit Traditio ional nal full-s full-serv ervice ice broke brokers rs make make mone money y based based on the quantity of transactions they facilitate.
A money manager is one level up from a full-service stock broker in their level of economic services. Money managers (also called economic advisors) will work with clients to develop their total financial picture, which may or may not include investing investing in stocks. Money managers support stocks and bonds for clients. Each one has his or her own exclusive style and so it is important that you decide wisely to make sure your money manager has the same economic philosophy that you do. A professional money manager does not collect commissions on transact transactions ions.. They They are salaried salaried from a percenta percentage ge of the assets under their their management. In that way, they are working for you and themselves at the same time. If your portfolio grows, their commission will grow as well.
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CHAPTER – II PROJECT PROFILE
2.1 Title of the Study 2.2 Objective of the Study 2.3 Significance of the study 2.4 Use of Research Method and Design 2.5 Population and Selection of Sample 2.6 Instrumentation 2.7 Data Collection 2.8 Introduction to Psychometric Test 2.9 Scope of the Study, and 2.10 Limitations of the Project – Study
PROJECT PROFILE Project profile is a part of the methodology of research which is used for a survey research work. It is a way to solve the research problem. In the Project Profile various steps are generally used by a researcher to study his/her research problem related to the project selected by him or her. These steps are: 2.1 Title of the Study, 2.2 Objective of the Study, 2.3 Need & Significance of the Study, 2.4 Use of the Research Method and Research design, 2.5 Population and Selection of Sample, 2.7 Instrumentation, 2.8 Data Collection, 2.9Introduction of the Psychometric test, 2.10 Scope of the Study 2.11 Limitations of the Project research.
2.1 Title of the Study
The investigator selected the following title of the study related to his study related to his project: “Services provided by the different broking firms”.
2.2 Objective of the Study
The main objective of the present study was to compare Services provided by the different broking firms. There were some of the secondary objectives of the present study. There were as under:
2.2.1 To develop the related questionnaires for measuring the comparative Services provided by the different broking firms. 2.2.2 To study the customers preference for the different broking firms. 2.2.3 To explore the preferential attitude of customers towards the services of broking firms. 2.2.4 To investigate the problems of customers with regard to services of broking firms. 2.2.5 2.2.5 To analyz analyzee the facil faciliti ities/ es/ser servic vices es which which are being being provid provided ed to the employees and customers by broking firms. 2.2.6 2.2.6 To study study the effect effectss of faster faster delive delivery, ry, attrac attractiv tivee advert advertise isement ment and quality satisfaction etc. on customers’ demand of services of broking firms. 2.2.7 2.2.7 To fami famili liar ariz izee the the conce concern rnin ing g compan companie ies, s, the the empl employ oyee eess and and the the customers with the features of the results obtained in the present research and to encour encourage age them them to modify modify their their activi activitie ties/b s/beha ehavio viors rs accordi according ng to the obtained results.
2.3 Need & Significance of the Study
A review of related literature of security market reveals that in India & Abroad, a few surveys have been conducted on the development and problems faced by the broking firms. But, But, no spec specif ific ic stud study y has has been been condu conduct cted ed on the the Ser Service vicess provided provided by the different broking firms . Therefore, the investigator felt the untouched area of
research for the present study. The need & Significance of the present study was felt on the following grounds: 2.3.1 General General Point of View
At present, like other countries of the world, in India, the broking firms are facing the various problems in the field of their products. Broking firms have contribution in the market-share with regard to their services. Service-level depends upon so many variables. Quality Satisfaction, Customer’s Demand, charges, a/c opening fees, Provision of Facilities, market-share, timing & tips, & Advertising Strategy etc, Organizational structure of an enterprise, human human resour resources ces,, Govt. Govt. Polici Policies es and busine business ss ethics ethics etc. are some some of the variables which have relationship with the contribution towards service-level of differ different ent brokin broking g firms. firms. Hence, Hence, the invest investiga igator tor felt felt the need need to study study the comparative market-share of Coca-Cola & Pepsi. 2.3.2 Individual & Social Point of View
The broking firms require some media for development. If the society provides suitab suitable le environ environmen mentt for the develo developme pment nt of brokin broking g firms, firms, the firms firms can contribute towards the market-share for the benefits of the customers. If, the environment is adverse, the firms cannot perform their role effectively for the benefits of society. Similarity, it is necessary for broking firms to identify the trading behavior of customers. If the brokers’ behavior is not good towards the customers, and the old old tech techni niqu ques es of trad tradin ing g in the the benef benefit itss of broki broking ng firm firms, s, the the firm firmss can can emphasize the provisions of facilities to customers for increasing their marketshare. share. Theref Therefore ore,, the presen presentt study study has a great great signif significa icance nce from from both both the individual as well as the social point of view.
2.3.2 Academic Academic Point Point of View View
The literature literature available on the broking firms reveals that there are some thirst thirst areas upon which no studies have been conducted. These areas are: Marketing management, Human Resource Management, Job-Satisfaction of the broking firms employees and executives. Policies of Govt. impact of infra-structural
development. Business Ethics and Responsibilities etc. all of these thirst areas are related with service-level of the broking firms. 2.3.3 Practical Practical Point of View View
The investigator felt the lack of proper tool for the measurement of broking firms’ contribution towards the service-level at the Location level. Therefore, the investigator himself developed the Questionnaire related to the service-level (Customer Form). Lastly, the significance of the present study was felt for the firms to motivate the personnel’s of Lower, Middle & Top Management to work effectively on the basis of the results obtained. Various facilities can be provided to retailers as well as to the personnel’s of various levels of management. 2.4 2.4
Use Use of of Res Resea earc rch h Met Metho hods ds and Desi Design gn
In the research work, a method and research design is used according to the nature & objective of the research problem. According to J.W. Best (1981), four types of meth method odss can can be used used for for a rese resear arch ch probl problem em.. Thes Thesee meth method odss are: are: Hist Histor oric ical al Research Method, Descriptive Survey Research Method, Experimental Research Method and Action Research Method. In the present study, Descriptive Survey Research Method has been used. The term’ survey’ survey’ suggests suggests gathering of related related evidence evidence to current current conditions. conditions. Therefore, Therefore, Survey Research is a Method of collecting and analyzing of data obtained from the large number of respondents representing a specific population. There are four independent variables in the present study. Each variable has two levels, so the research design for the present study is the Factorial Research Design. The independent variables with their level are as follows: (A) (A)
Age: Age: abov abovee Thi Thirrty years ears 7 bel below ow Thir hirty years ears..
(B) (B)
Expe Experi rien ence ce:: Mor Moree tha than n Fiv Fivee yea years rs & Les Lesss tha than n Fiv Fivee yea years rs..
(C) (C)
Cate Catego gorry: Gene Genera rall Cat Categor egory y & Othe Otherr Cat Categor egory. y.
The independent variable the present study is service-level and its dimensions. An overall, ‘Rigid’ descriptive research design has been used focusing attention on –
2.5 2.5
Formulation of objectives of the study,
Designing method for data collection,
Selection of sample Size,
Collecting the data,
Processing and Analysis of the data,
Findings & Conclusions,
Reporting of the study,
Bibliography & Annexure.
Popu Popula lati tion on and and Sele Select ctio ion n of Samp Sample le
All the customers who were dealing in the products of broking firms in the main areas of Bikaner city constituted the population for the present study. All of the customers of this area were also constituted the pop ulation for the present study. It was not possible to include the whole population in the study. Therefore, it was felt necessary to select a sample of the population which could represent the whole popula populati tion. on. A sample sample of 200 custom customers ers (200 (200 relate related d all broking broking firms) firms) were were randomly selected from the concerned area. 2.6
Instrumentation
The following tools have been used in the present study: 2.6.1 2.6.1
Quest Questio ionna nnair iree Rela Relate ted d to serv servic icee-le leve vell of brok brokin ing g firm firmss (Cus (Custo tome mers rs
Form) All the above noted tools were constructed and developed by the investigator himself.
2.7
Data Co Collection
A psychom psychometr etric ic test test means means a standar standardiz dized ed test test which which is used used to analyze analyze and interpret the collected data related to a research problem. Its purpose is to test the hypotheses formulated. In the area of research, two types of psychometric tests are used : (A)
Parametric or Standardized test, and
(B )
Non- Parametric or Distribution free test.
(A)
Parametric or Standardized Test
The parametric tests are as – Z test, t-test, x 2 (chi- Square) test, F-test, Karl Pearson Product Moment Coefficient etc. (B)
Non- Parametric or Distribution free test
Some of the important non-Parametric tests are : Sign test: One sample runs test; Rank Sum test; Fisher-Irwin test; Kendalle’s Coefficient; Kruskal-Wallis test and Spearman’s Rank Correlation test etc.
2.10
Scope of the Study
In the scope of the present study, the following contents have been included2.10. 2.10.1 1
In the the pres presen entt stu study dy,, all all the the brok brokin ing g fir firms ms have have been been incl includ uded ed..
2.10. 2.10.2 2
Only Only the the var vario ious us cat categ egor orie iess of cus custo tome mers rs of of all all comp compani anies es,, who who are are dealing in and consuming respectively the company’s products, have been included.
2.10 2.10.3 .3
Only Only the the mai main n area area of Bik Bikan aner er cit city y has has been been brou brough ghtt into into the the sco scope pe of the present study.
2.10. 10.4
In the present study, dy, only 40% 40% sample ple of total customers was included.
2.10. 2.10.5 5
This This stu study dy has has a samp sample le of of 200 200 cust custom omer erss of all all the the bro broki king ng fir firms ms..
2.10. 2.10.6 6
Thou Though, gh, the the serv servic icee leve levell depen depends ds upon upon a seri series es of of dime dimens nsio ions ns,, but but in in the present study only eight dimensions have been included. These dimensions are: Quality Satisfaction, Customer’s Demand, charges, a/c opening fees, Provision of Facilities, market-share, timing & tips, & Advertising Strategy etc.
2.11
Limitations of the Project Study
The present investigation has the following limitations2.11 2.11.1 .1 Time Time and and money money were were the the great greates estt limi limita tati tion onss in carr carryi ying ng out the the pres present ent investigation. 2.11.2 The number of retailer retailerss being illiterate illiterate or less, they they took a lot of time in providing providing the data. 2.11.3 A few respondents respondents were influence influenced d by some specific specific factors, factors, so they did not car to provide the satisfactory response. 2.11.4 2.11.4 Anothe Anotherr limita limitatio tion n was the non-avai non-availab labili ility ty of suitab suitable le tools tools to measur measuree the service level of the companies. Tools were developed and standardized by the researcher himself. 2.11.5 2.11.5 The custome customerr not has given given much much inform informati ation on about about taking taking his risk risk in share share trading. 2.11.6 The customer customer are interest interested ed to open demat a/c or share share trading. trading. 2.11.7 Some customer customer don’t don’t know about the the demat a/c or share share trading. trading. 2.11.8 Now the people invest invest in the securities securities very frequentl frequently y but mostly are are the small investor. 2.11.9 Income Income of investor investor not so much much & not having having proper proper knowledge knowledge
CHAPTER – III Figures and findings
3.1 Introduction 3.2 Findings from Questionnaires
Figures and findings 3.1 Introduction
Analysis Analysis and interpretat interpretation ion is an essential part of a research research work. For this purpose, the necessary data are collected with the help of Questionnaires & standardized Psychometric tests. After collecting the data, the data are tabulated. After tabulation, the analysis and interp interpret retati ation on work work is comple completed ted.. In the proces processs of analysi analysiss and interp interpret retati ation, on, the findings are obtained with the help of statistical treatment according to the proposed objectives. In the present research, the following Questionnaires and standardized tool were used for achieving the findings(i) (i)
Quest Questio ionna nnair ires es of of shop shoppi ping ng styl stylee of custo custome mers rs
3.2 Finding Finding from from the Questio Questionnai nnaires res
In the present research work the following types of Questionnaires and scale have been used: 3.2.1 3.2.1
3.2.2
Questi Questionn onnair airee Related Related to SERVICESERVICE-LEV LEVEL EL (Custom (Customers ers Form) Form)
Findings from the Customers’ Questionnaire related to service-level
For the purpose of the present study, 200 customers were randomly selected from of the Bikaner city. These customers were using the demat a/c of all broking firms.
No. of a/c’s of various companies Table No. 3.1 Various accounts of customers in all broking firms
Name of company India info line Hem securities ICICI direct.com Kotak mahindra Anagram Karvy Reliance Money Others
No of A/C 405 200 250 128 27 52 34 200
FIGURE – 1 Showing the accounts of all broking firms
A CC O UN
s t n u o c c A
450 400 350 300 250 200 150 100 50 0
ACCOUN
y s r s e s m r a r a m a r v e y n h i l i i t e t . c. o i n d n a g K n e O t o n f o c u r h c i e M a A a s e d e M i r e i c d k n I a I n e m I C i a l H I C K o t R e compani
Market share of various broking firms Table No. 3.2 Market share of all broking firms
Name of company India info line Hem securities ICICI direct.com Kotak mahindra Anagram Karvy Reliance Money Others
Market Share 31.25 15.43 19.29 9.87 2.08 4.01 2.63 15.43 FIGURE – 2
Showing the market-share of all broking firms MARKET SHA
35 30
India info line
N I 25 E E G R A2 0 A T H N S E 1 5 T C E R K E 1 0 R P A 5 M
Hem securitie securitie ICICI direct.co Kotak Mahind Anagram Karvy Reliance Reliance M on
0 Market Share
Others
COMPANIE
Brokerage charges of all broking houses All firms are having different broking charges as their rules-
Table No. 3.3 Comparison of broking charges of all broking firms
Name of company India info line Hem securities ICICI direct.com Kotak mahindra Anagram Karvy Reliance Money
Brokerage charges(Rs) .03 & .30 .05 & .50 .07 & .50 .05 & .50 .05 & .50 .05 & .70 .03 & .50
FIGURE – 3 Showing the broking charges of all broking firms
BROKERAGE CHARGES S E E P U R N I
E G A R E K O R B
0.8 0.7 0.6 0.5 0.4 0.3 0.2 0.1 0
Intera Day Delivery day
y e e y i n i t e s c o m n d r a r a m a r v l i n . g i o K t f o c u r h M n a i n e c M a r e e A i a i s d k n c I d t a m I C a i I n l e H K o I C R e COMPANIES
A/C opening charges of various companies Each firm are charging some money as a/c opening fees.if we are comparing all these then Table No. 3.4 Comparison of A/C opening charges of all broking firms
Name of company India info line Hem securities ICICI direct.com Kotak Mahindra Anagram Karvy Reliance Money
Charges 555 350 750 750 750 750 750
FIGURE – 4 Showing the account opening charges of all broking firms account opening charges
s e g r a h c
800 700 600 500 400 300 200 100 0
Series1
e r a m e s i n o m l d i t r a c i n . . r i o g t f h a c u a i n e c A n M s e I d i r i a d k m I n t a I C H e K o I C
y y r v n e a o K M c e n i a l R e
various organiz organiz ations
Share khan has one of the best state of art web portal providing fundamental and statistical information across equity, mutual funds and IPOs. You can surf across 5,500 companies for in-depth information, details about more than 1,500 mutual fund schemes and IPO data. You can also access other market related details such as board meetings, result announcements, FII transactions, buying/selling by mutual funds and much more.
Type of Account
Classic Account Trading Terminal
ShareKhan Classic account Allow investor to buy and sell stocks online along with the following features like multiple watch lists, Integrated Banking, demat and digital contracts, Real-time portfolio tracking with price alerts and Instant credit & transfer. a) Online trading trading account account for for investing investing in Equities and Derivatives Derivatives b) Free Free trading trading throug through h Phone Phone (Dial-n(Dial-n-Tra Trade) de) c) Two dedicated dedicated numbers for placing placing your your orders with your cellphone cellphone or landline.
Automatic funds transfer with phone banking (for Citibank and HDFC bank customers) Simple and Secure Interactive Voice Response based system for authentication get the trusted, professional advice of our telebrokers telebrokers After hours order placement facility between 8.00 am and 9.30 am.
Integration of: Online trading + Bank + Demat account Instant cash transfer facility against purchase & sale of shares IPO investments Instant order and trade confirmations by e-mail
Single screen interface for cash and derivatives
ShareKhan Speed Trade account This accounts for active traders who trade frequently during the day's trading session. Following are few popular features of Speed Trade account. Single screen interface for cash and derivatives Real-time streaming quotes with Instant order Execution & Confirmation Hot keys similar to a traditional broker terminal Alerts and reminders Back-up facility to place trades on Direct Phone lines Brokerage: Some stock trading companies charge direct percentage while others charge a fixed amount per Rs 100. Sharekhan charges 0.5% for inter day shares and 0.1% for intra day or you could say Sharekhan charges 50 paise per Rs 100. How to open account with Sharekhan? For online trading with Sharekhan, investor has to open an account. Following are the ways to open an account with Sharekhan: •
Call them at phone number provided below and ask that you want to open an account with them. 1.
Call on Toll free number: 1-800-22-7500 to speak to a Customer Service executive
2.
If you are in Mumbai call on 022-66621111
3.
Visit one of their branches. Sharekhan has a huge network all over India. Click on http://sharekhan.com/Locateus.aspx this link to find out your nearest branch. Just select the place near you and you'll find a manager to assist you there.
4.
You can send them an Email on
[email protected] to know about their products and services.
5.
If you wish to chat with customer service representative, you can join the chat session.
Advantages of Sharekhan: 1. Online trading trading is very user user friendly friendly and and one doesn't need any any software software to access. 2. They provide provide good quality quality of services like daily daily SMS alerts, mail alerts, alerts, stock recommendations etc. 3. Sharekhan Sharekhan has ability to to transfer transfer funds funds from most banks. banks. Unlike Unlike ICICI Direct, HDFC Sec, etc., so investor not really needs to open an account with a particular bank as it can establish link with most modern banks.
Disadvantages of Sharekhan: 1. They charge charge minimum minimum brokerage brokerage of of 10 paisa paisa per stock stock would not not let you you trade stocks below 20 Rs. (If you trade, you will loose majority of your money in brokerage). 2. Lots of hidde hidden n rules rules and charges. charges. 3. They do not provide provide facility to book limit limit order order trades during during after-hours. after-hours. 4. Classic Classic accoun accountt holders holders cannot cannot trade trade commodit commodities. ies. 5. Cannot Cannot purcha purchase se mutua mutuall funds funds onlin online. e.
Indiabulls is India's leading Financial Services and Real Estate Company having presence over 414 locations in more than 124 cities. Indiabulls Financial Services Ltd is listed on the National Stock Exchange, Bombay Stock Exchange, Luxembourg Stock Exchange and London Stock Exchange.
Type of Account Indiabulls Equity Trading Account
Indiabulls Equity Trading Account is standard Online trading account from India bulls and along with online trading it also provides priority telephone access that gives you direct access to your Relationship Manager and full access to 'Indiabulls Equity Analysis'.
Application Trading Terminal (Need Installation) Power Indiabulls Power Indiabulls trading terminal is the most advanced new generation trading platform with great speed. This trading terminal is built in JAVA.
Power Indiabulls is extremely reach in features including Live Streaming Quotes, Fast Order Entry and execution, Tic by Tic Live Charts, Technical Analysis, Live News and Alerts, Extensive Reports for Real-time Accounting.
Document Required to open Equity Trading Account with Indiabulls 1. One pass passpo port rt size size photo photogra graph ph.. 2. Proof Proof of bank bank accou account nt
3. Copy Copy of PAN PAN car card. d. 4. Identity proof proof - copy copy of passport passport or PAN card or voter ID or driving driving license or ration card. 5. Address proof - copy copy of driving driving license license or passport passport or ration card card or voter voter card or telephone bill or electricity bill or bank statement. Brokerage and fees: Account opening fees : Rs 1200/- (One time non-refundable) as below: 250/- Equity Trading Account opening charge 200/- Demat Account opening charge 750/- Software changes Advantages of Indiabulls Equity Trading Account 1. Brokerage Brokerage is less compare compare to other other online online trading trading companie companies. s. 2. Provide trading terminal 'powerbulls', 'powerbulls', a java java based based software. software. It's very fast fast in terms of speed and execution.
Reliance Money (or RelianceMoney.com) is the financial services division of the Anil Dhirubhai Ambani Group promoted Reliance Capital Limited. Limited .
RelianceMoney.com is offering most dynamic web based trading environment to its customers. The new trading platform has many new features which basically fill up the gap between old online trading companies in India and their customers. The Reliance Money trading websites comes with special security features 'Security Token', Token' , which makes you online trading experience more secure without complexity.
Stock Trading is available in BSE and NSE. Offline trading is also available through Reliance Money partners in your city and through phone by dialing 02239886000.
Investment options are available in 1. Equity (Stock) Trading 2. Derivatives Trading Special feature is available first time to track your positions online, in real time.
3. Forex Trading 4. Commodity Trading 5. IPO's 6. Mutual Funds
7. Insuran rance
Type of Account Reliance money is offering 3 types of accounts to its customers. Account for beginners, for middlers and for experts.
Brokerage and fees: Reliance Money is offering lowest brokerage rates in today's online stock trading industry. The brokerages are as low as 0.075% for delivery based trading and 0.02 for now delivery .
Note: The above figures may not accurate, please contact your nearest Reliance Money broker to check the brokerages they are offering.
Also check rates of Securities Transaction Tax
How to open account with Reliance Money? Account opening with Reliance Money is easy. Simply fill a form online at below address and somebody from Reliance Money will contact you soon.
Advantages of Reliance Money 1. Extra security security features features with 'Security Token'', which is the the most secure secure and and tested technology in computer world. 2. Simple, Simple, easy easy and and fast onlin online e stock stock trading trading.. 3. Almost all investment investment options are available available under under one one account account including including Equity Trading, Derivatives, Forex, Commodity, IPO, Mutual Funds and Insurance. 4. Branches Branches are now available in all major major cities and the number is is growing. Branches are open from 9am to 9pm.
Useful info from Reliance Money Broacher (March 2007)
Reliance Money - Transacting and investing simplified Get ready to change the way you transact and invest in financial products and services.
Whether you wish to transact in Equity, Equity & Commodity Derivatives, IPO’s, Offshore Investments, or prefer to invest in Mutual Funds, Life & General Insurance products or avail Money Transfer and Money Changing services, you can do it all through Reliance Money.
Simply open a Reliance Money account and enjoy the convenience of handling all your key financial transactions through this one window.
Benefits of having a Reliance Money account
1) It's Cost-effective
You pay comparatively lower transaction fees. As an introductory offer, we invite you to pay a flat fee of just Rs. 500/- and transact through Reliance Money. This fee is valid for two months or a specified transaction value*. See the table for details.
Validity (whichever is Access Fee (Rs.) 500 1350 2500
earlier) Time Turnover Validity 2 months 6 months 12 months
Validity Rs. l Cr. Rs. 3 Cr. Rs. 6 Cr.
Turnover limit Non-delivery
Delivery
turnover Rs. 90 Lac Rs. 2.7 Cr. Rs. 5.4 Cr.
turnover Rs. 10 Lac Rs. 30 Lac Rs. 60 Lac
2) It offers Single- Window Access
Through Reliance Money's associates, you can transact in Equity, Equity & Commodity Derivatives, Offshore Investments **, Mutual Funds, IPOs, Life Insurance, General Insurance, Money Transfer, Money Changing and Credi t Cards, amongst others. 3) Its Convenient
You can access Reliance Money's services through a) The The Inte Intern rnet et,, b) Trans Transac actio tion n Kios Kiosks, ks, c) The phon phone e (Call (Call & Transa Transact) ct) and and throu through gh d) Our all - India India network network of associates associates On On an assisted assisted trade (through the the Call Centre or our network of associates) a charge of Rs. 12 per executed trade will be applicable.
4) It's Safe
Your account is safe guarded with a unique security number that changes
every 32 seconds. This number works as a dynamic password to keep your account extra safe. 5) It provides you a Demat Account
You get your own Demat Account with Reliance Capital at an annual fee of just Rs. 50/-. 6) It provides you a 3...in...l facility
You can access your Banking, Trading and Demat Account through a single window and transfer funds across accounts seamlessly! 7) It provides you value-added services
At www.reliancemoney.com you get a) Reliable research, research, including including views of external external experts experts with an enviable enviable track record. b) Live news news update updates s from Reuter Reuters s and Dow Jones. Jones. c) CEOs/ CEOs/ Expert Expert views on the the economy economy and financ financial ial markets markets.. d) Tools that that help you you plan your your investments, investments, tax, retirement, retirement, etc, in the Personal Finance section. e) Risk Analyz Analyzer er for analys analysis is of your your risk profil profile. e. f) Asset Asset Allocate Allocates s to build build an appropr appropriate iate invest investment ment portf portfolio olio..
Religare Enterprises Limited is Ranbaxy Laboratories Limited promoted financial product and service Provider Company. Religare provide its service in three different segments including Retail, Wealth management and the Institutional spectrum.
Religare Securities Limited is a subsidiary company of Religare Enterprises Ltd and involve in equity related services include online trading at BSE and NSE, Derivatives, commodities, IPO, Mutual fund, Investment banking and institutional broking services.
People who wonder where Religare word came from, it's a Latin word meaning 'to bind together '.'.
Type of Account R-ACE (Basic) It's the basic online trading account provided by Religare. Investor can trade and access their account information online and over the phone as well.This account comes with a browser based online trading platform and no additional software installation needed. This account also provides Lifetime free DP account with no annual maintenance charges.
R-ACE Lite (Advanced) It's the advanced account option for the investor with Religare. This trading account provides the entire feature of R-ACE (Basic) account. In addition it also provides real-time streaming stock quotes and alerts. This trading platform is also browser based and no software installation is needed. R-ACE Pro (Professional) As the name indicates this account is for high volume traders. Along with the features from above 2 accounts, this account also comes with a Trading Terminal, software which needs to install on your computer. This terminal directly connects the investor to stock market and having all industry standard Treading terminal features including technical charting (intra-day and EOD), multiple watch list, advanced hot-key functions for faster trading, derivative chains, futures & options calculator. As in basic and advance account, trading is available online through internet and offline though phone.
Brokerage and Account opening fees: Religare offers three kinds of accounts as above. Below are detail about fees and activation charges for each account: 1. R-ACE
Account activation charges Rs.299/-. Minimum margin of Rs.5000/- required. 2. R-ACE Lite
Account activation charges Rs.499/-. Minimum margin of Rs.5000/- required. 3. R-ACE Pro
Account activation charges Rs.999/-. Minimum margin of Rs.10,000/- required.
4. All the account comes with with free free annual annual maintenance maintenance charge. charge. 5. All accou account nt comes comes with with free free DP DP accou account. nt. 6. Brokerage at Religare
On the basis of volume and frequency of trading, Religare provide different options for brokerages. On the broader way they divided into three categories: o
Classic Account Intraday brokerage varies from 0.3% to 0.5%. Delivery brokerage varies from 0.30% to 0.50%. Derivatives brokerage varies from 0.3% to 0.5%.
o
Freedom Account In this payment scheme, investor has to pay a fix amount in advance for Monthly (Rs 500/-), Quarterly (Rs.1400), Half-yearly (Rs 2500) or Annual Subscription (Rs 4000). This one time payment enable account holder to trade for Rs. 3,00,000 intraday &
derivative trading and Rs. 40,000 of delivery based trading for zero brokerage. o
Trump Account Trump account has two payment options, Trump Plus and Trump Super plan: 1. Trump Plus has annual subscription fees of Rs 2,500, Brokerage on Delivery Trades of 0.25% and Brokerage on Intraday Trades & F&O Trades of 0.025%. 2. Trump Super has annual subscription fees of Rs. 15,000, Brokerage on Delivery Trades of 0.15% and Brokerage on Intraday Trades & F&O Trades of 0.015%.
How to open account with Religare For online trading with Religare, investor has to open an account. Following are the ways to open an account with Religare: •
Call them at phone number provided below and ask that you want to open an account with them.
•
Visit http://www.religareonline.com/applyonline.asp and fill a form. Representative from religare will contact you.
•
Visit one of their branches. Religare has a huge network all over India with more than 300 branch locations and a chain of franchises. Click on http://www.religareonline.com/branches.asp this link to find out your nearest branch. Just select the place near you and you'll find a manager to assist you there.
•
From the mobile phone type " RELIGARE" RELIGARE" and send it to 54646. 54646. Customer representative from Religare will call you with in 24 hours.
Advantages of Religare 1. Religare gives interest interest on unutilized unutilized cash cash when investor is waiting waiting to make make next trade or online investment. 2. Religare Allow their their investor investor to trade trade without without having having to worry about about cash cash margin. Investor can get exposure (on cash segment) as high as 20 times for intraday trades. 3. They They provide provide intraday intraday reports reports and histor historical ical chartin charting. g. 4. Lifeti Lifetime me fre free e DP acc accou ount. nt. 5. Varity of fee structure to fulfill fulfill need of different different type type of investors. investors.
CHAPTER – IV REPORT OF THE PROJECT
4.1 Conclusions 4.2 Recommandations & Suggestions
Report of the project 4.1 introd introduc uctio tion n
The report, whether it is a thesis, dissertation or a short term-paper, or a project report, usually follows a fairly standardized pattern. The following outline presents the usual sequence of topics: 4.1.1 Preliminary Section In this section the title, certificate of the title, acknowledgement, preface, indexing of 4.1.2
contents, list of tables and list of figures etc are included.
Main Body of the Report
In this this sectio section n introd introduct uction ion of the organi organizat zation ion,, statem statement ent of the proble problem, m, significance of the problem, objectives of the study, hypotheses, limitations & scope of the the rese resear arch ch,, use use of meth method od and rese resear arch ch desi design, gn, popu popula lati tion on & samp sampli ling ng,, inst instru rume ment ntat atio ion, n, data data coll collect ectio ion, n, stat statis isti tical cal treat treatme ment nt of data data,, anal analys ysis is and and interpretation, findings, conclusions, implications & suggestions etc. are included. 4.1.3
Reference Section
In this section Bibliography and Annexure are included. The conclusions, implications and suggestions are the most useful part of a project reporting. These are given as follows4.2
Conclusions
Historical background of security market reveals that the some broking firms are much newer in all broking firms. Therefore, it has more efficient and capable Human Resource Management. So, the investigator decided to compare the service-level of broking firms. The following conclusions were yielded by the investigator from the present research work: (i) (i)
In Bika Bikaner ner city city,, the relia relianc ncee money money provid providin ing g more more and more more attra attract ctiv ivee schemes on its services in comparison to other broking firms Company.
(ii) ii)
Aft After cond conduc uctting the mar market ket sur survey vey in the area area of Bika Bikane nerr cit city, the the investigator concluded that Indiainfoline is dominating over all firms.
(iii) (iii)
Custom Customers ers have a deman demand d for for onli online ne serv service icess of brokin broking g firms firms..
(iv) (iv)
Accor Accordi ding ng to the the opini opinion on of the the total total samp sample le of cust custom omer ers, s, the the Marke MarkettShare of Indiainfoline dominates the Market-share of all firms in the area of Bikaner city.
(v) (v)
Accor Accordi ding ng to to Age gro group up I havi having ng abov abovee 30 yea years rs of of age age and Age Age gro group up II II having below 30 years of age, latest technology is helpful for them.
(vi) (vi)
Accord According ing to to opinio opinion n of Exper Experien ienced ced Grou Group p I & II II of cust custome omers, rs, the firm firmss maintain the good relation with them.
(vii) (vii)
Throug Through h Relian Reliance ce Money Money's 's asso associa ciates tes,, you can can trans transact act in in Equity Equity,, Equity Equity & Commodity Derivatives, Offshore Investments **, Mutual Funds, IPO’s, Life Insurance, General Insurance, Money Transfer, Money Changing and Credit Cards, amongst others.
(viii (viii))
Due to to its qualit quality y satisf satisfact action ion,, Karvy Karvy & ICIC ICICII direc directt has control controlled led more more Market-Share in comparison to others.
(ix) (ix)
Online Online trad trading ing is is very very user user frie friendl ndly y and one does doesn't n't need need any any softw software are to access.
(x) (x)
They They provi provide de good good qualit quality y of servi service cess like like daily daily SMS aler alerts ts,, mail mail alerts alerts,, stock recommendations etc.
(xi) (xi)
Intrad Intraday ay charg charges es of indi indiain ainfol foline ine are are less less as compa compare re to othe others rs and and karvy’ karvy’ss charges are high.
(xii) (xii)
In All four four Brok Brokers ers having having the 75% of the over over all all mark market. et.
(xiii (xiii))
In popul populari arity ty of Secur Security ity market market the the custom customers ers havi having ng the the great great intere interest. st.
(xiv) (xiv)
The onli online ne syste system m is Indi Indiabu abulls lls ltd ltd stron stronger ger than than othe otherr compet competit itors ors..
(xv) (xv)
A large large numb number er of exec execut utive ive and and good good qual qualit ity y of the wor worke kers rs is is the plus plus point for Broker Firms.
(xvi (xvi))
All All are are perf perfor ormi ming ng thei theirr bes best. t.
4.3 Recommendations/Suggestions for Improvements
On the basis of the conclusions of present study, a few suggestions for improvements are as follows : (i)
Each Each type type of servi services ces shoul should d be provi provided ded by the all all the the firms firms in suff suffici icient ent quality.
(ii) (ii)
All All firms firms shoul should d charge charge less less as like like Hem secur securit itie ies. s. The The firms firms prov provid idee more and more facilities to customers for the purpose of advertisement.
(iii (iii))
All All the the brok brokin ing g firm firmss shou should ld provi provide de prope properr supp supply ly of its its prod produc ucts ts by impr improv ovin ing g the the Dist Distri ribut butio ion n Chann Channel els, s, Adve Advert rtis isem emen entt Stra Strate tegy gy and and efficiency of its employees.
(iv) (iv)
Bett Better er schem schemes es and bene benefi fite ted d should should be provi provided ded to the the custom customer erss by the all firms.
(v)
Brokin Broking g charg charges es of of karvy karvy are high high so the firms firms have have to to charge chargess low low so that that more customers can attract.
(vi) (vi)
The The custo custome mers rs who who are deal dealin ing g from from last last 5 years years shoul should d be provi provided ded wit with h some extra schemes and facilities.
(vii) (vii)
Qualit Quality y of the serv service icess shoul should d be impr improved oved by the the reli relianc ancee money. money.
BIBILIOGRAPHY
Useful links about ShareKhan/Contact Sharekhan at: Website:: http://www.ShareKhan.com 1. ShareKhan Website 2. Product Demo - SpeedTrade : http://www.sharekhan.com/Demos/speedtrade/index.html Classic : 3. Product Demo - Classic: http://www.sharekhan.com/Demos/classic/index.html Email:
[email protected] 4. Email: FAQs: http://sharekhan.com/KnowledgeCentre/Sharekhan_FAQ.aspx 5. FAQs: Phone: 022-66621111 6. Phone: Free: 1-800-22-7500 7. Toll Free:
Useful links & info about Indiabulls Website : http://www.indiabulls.com 1. Indiabulls Website:
E-mail:
[email protected] 2. E-mail: No. : 1800-11-11-30, 0124-4572444 3. Contact No.:
Useful links about Reliance Money 1. 2. 1. 2. 3.
Reliance Money Website: : www.RelianceMoney.com Branch Locator : Reliance Money Branch Locator Website: Website: www.RelianceMoney.com Email :
[email protected] Phone : 022-39886000
Useful links about Religare / Contact Religare at: 1. 2. 3. 4. 5.
Website: Website: www.religareonline.com Email: Email:
[email protected],
[email protected] FAQs: FAQs: https://nat.religaresecurities.com/stsb/presentationlayer/FAQ.pdf Phone: Phone: 011-44312345 Toll Free: Free: 1800-11-44-88
ANNEXTURES
Services of broking firms (Questionnaire for customers)
Supervisor: Mrs. Ritu S Sharma Faculty of ICFAI Bikaner (Raj.)
Investigator : Rajesh Prajapat NATIONAL COLLEGE,
MBA student ICFAI NATIONAL COLLEGE
Respected Sir, The questionnaire is being supplied to you for measuring the ‘Services provided by the broking firms’. Please read the questions and give your responses by the tick-mark on one
of the alternative. Your responses would be kept confidential. They will be used only for the research purpose. ________________________________________________________________________
Name: Occupation: Age: Monthly income: Address: (1) In which company company you invested? invested? (a) India infoline (c) ICICI direct. (e) Reliance Money
(b) India bulls (d) Sharekhan (f) Any other
(2) What are the account opening opening charges? (a) 750 (b) 555 (c) Free (d) any other. (3) What are the brokerage rate of intra intra and delivery? (a) .03 & .30 (b) .03 & .75 (c) .02 & .30 (d) any other. (4) In which type of schemes/products of broking firm, you have invested? (a) Mutual funds (b) saving account (c) d-mat account (d) fixed deposit (e) Life insurance (f) commodities (g) Others (h) trading account (I) None (5) Is broking firm fulfills your expectations? expectations? (a) Yes (b) no
(6) In which company you want to invest in future? future? (a) India infoline (b) India bulls (c) ICICI direct.
(7) Is your organization provides provides Invest anytime facility? (a) Yes (b) no (8) From how many schemes/products schemes/products you are aware? (a) Fixed deposit (b) bonds (c) Mutual funds (d) nse/bse/ncdex (e) Life insurance policy (f) future and option (g) All of above (h) none (9) If you have invested invested threw broking firm what are the services services provided provided by company? (a) Online line trading (b) off line trading (c) Funding scheme (d) providing software for online trading (e) Any other services (f) none (10)Are they providing you daily tips, massages, news? (A)REARLY
(B) FOR SPECIAL TRADE
(C)RAGULARY
(D) NO
(11).What options do you prefer for trading? tr ading? (A)OVER THE PHONE
(B) AT OUR BRANCH
(C)ON LINE TRADING
(12).What is the factor that you are trading with Broker? (A)SERVICE
(B) GOOD BEHAVIOUR
(C)BROCKRAGE
(13).Are you satisfied that they are providing pr oviding you best credit limit? (A)YES
(B) NO
(14).Are you getting all this as right time? Contact notes/Statements/Tale calling/Massages tips? (A)FOR SPECIAL TRADE
(B) YES
(C)NO
(15).Which thing of Broker firm do you like most? (A)CUTTING ADGE TECHONOLOGY (B) ACCLAIMED RESEARCH (C)DEDECATED RELATIONSHIP MANAGER
(16).Are you satisfied our tt5 and tt5 advance and Odin software? (A)YES
(B)NO
(17).Which factor influences you to work with your Broker? (A)PREMIUM BROCKRAGE
(B) NO FIXED CHARGE
(18).Are you satisfied with services provided by firm or not? (a) Very satisfied (b) satisfied (c) Not satisfied (d) can’t say.
