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I, "POONAM NANDAa student of KCL-IMT, which is approved by PTU, Jalandhar hereby declare that the project entitled COMPARATIVE ANALYSIS Of STOCK BROKERS IN JALANDHAR REGION at KOTAK SECURITIES Ltd, is the original work done by me and the information provided in the study is authentic to the best of my knowledge. This study report has not been submitted to any other institution or university for the award or any other degree.
This report is based on my personal opinion hence cannot be referred to legal purpose.
(POONAM NANDA)
COMPANY CERTIFICATE
PREFACE A good broker system must be able to cope with an extremely complex and dynamic environment
The microstructure of the stock market in which brokers work is highly dynamic and volatile. Many stocks are available to be bought and sold, each exhibiting its own patterns and characteristics that are highly unpredictable.With so many options and considerations that need to be taken into account, it is an extremely arduous task for a broker to investigate aspects of the stock market and consistently provide effective advice to their clients. Thus, brokers perform their day-to-day tasks with the aid of a broker system. Such a system should provide tools for interacting with exchanges and performing analysis. As a consequence, these broker systems are quite large and complicated by themselves.
This research aims is to analysis Stock broker on the basis of their services, products, growth, and their subsidiaries .Because Stockbrokers are one of the main participants in stock exchanges worldwide, they often act as an agent for their clients, making trades on their behalf. They also act as advisors, providing suggestions to their clients on what stocks to buy and sell.
ACKNOWLEDGEMENT
Preservation, inspiration and motivation have always played a key role in the success of any venture. In the present world of competition and success, training is like a bridge between theoretical and practical working; willingly I prepared this particular Project. First of all I would like to thank the supreme power, the almighty god, who is the one who has always guided me to work on the right path of my life. I would like to thank Mr. Kapil Tandon,for granting me permission to undertake the training in their esteemed organization. I express my sincere thanks to Mr. Sonu Dua, Mr. Tarunjit & other faculty members of M.B.A department,for the valuable suggestion and making this project a real successful. I also thank to Mr.Chetan Bhanot, Mr. Sumit Rana & Mrs. Binni Gugnani for their time-totime guidance and support in completing the project. I also thank the other staff of KOTAK SECURITIES who devoted their valuable time by helping me to complete my project. Last but not least, my sincere thanks to my parents and friends who directly or indirectly helped me to bring this project into the final shape.
EXECUTIVE SUMMARY
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There is growing competition between brokerage firms in post reform India. For investor it is always difficult to decide which brokerage firm to choose. Research was carried out to find which brokerage house people prefer and to figure out what people prefer while investing in stock market. This study suggests that people are reluctant while investing in stock and commodity market due to lack of knowledge. Main purpose of investment is returns and liquidity, commodity market is less preferred by investors due to lack of awareness. The major findings of this study are that people are interested to invest in stock market but they lack knowledge.
Through this report I am also able to understand, what Companys (Kotak Ltd.) positive and strong points, on the basis of which we come to know what can be the basis of pitching to a potential client.
1.1 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 Chandigarh, Gurgaon, Jaipur etc. My research is based on the residents of Jalandhar and its nearby areas. As the per-capitaincome 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.
The emergence of stock market can be traced back to1830. In Bombay, business passed in the shares of banks like the commercial bank, the chartered mercantile bank, the chartered bank, the oriental bank and the old bank of Bombay and shares of cotton presses. In Calcutta, Englishman reported the quotations of 4%, 5%, and 6%loans of East India Company as well as the shares of the bank of Bengal in 1836. This list was a further broadened in 1839 when the Calcutta newspaper printed the quotations of banks like union bank and Agra bank. It also quoted the prices of business ventures like the Bengal bonded warehouse, the Docking Company and the storm tug company. Between 1840 and 1850,only half a dozen brokers existed for the limited business. But during the share mania of 1860-65, the number of brokers increased considerably. By 1860, the number of brokers was about 60 and during the exciting period of the American Civil war, their number increased to about 200 to 250. The end of American Civil war brought disillusionment and many failures and the brokers decreased in number and prosperity. It was in those troublesome times between1868 and 1875 that brokers organized an informal association and finally as recited in the Indenture constituting the Articles of Association of the Exchange. On or about 9th day of July,1875, a few native brokers doing brokerage business in shares and stocks resolved upon forming in Bombay an association for protecting the character, status and interest of native share and stockbrokers and providing a hall or building for the use of the members of such association.
As a meeting held in the broker Hall on the 5th day of February, 1887, it was resolved to execute a formal deal of association and to constitute the first managing committee and to appoint the first trustees. Accordingly, the Articles of Association of the Exchange and the
Stock Exchange was formally established in Bombay on 3rd day of December, 1887. The Association is now known as The Stock Exchange . The entrance fee for new member was Re.1 and there were 318 members on the list, when the exchange was constituted. The numbers of members increased to 333 in1896, 362 in 1916 and 478 in 1920 and the entrance fee was raised to Rs.5 in 1877, Rs.1000 in 1896, Rs.2500 in 1916 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-brokers 3. Market makers 4. Portfolio consultants etc
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Originally established in 1994, Kotak Securities is a subsidiary of Kotak Mahindra Bank, which services more than 7.4 lakh customers. The firm has a wide network of more than 1400 branches, franchisees representative offices, and satellite offices across 448 cities in India and offices in New York, London, Dubai, Mauritius and Singapore. They process more than 4, 00,000 trades a day which is much higher than some of the renowned international brokers. The company is a corporate member of both The Bombay Stock Exchange (BSE) and The National Stock Exchange of India (NSE). The operations include stock broking services for trading in stock markets through branches & internet and distribution of various financial products including investments in IPOs, Mutual Funds and Currency Derivatives. Currently, Kotak Securities is one of the largest broking houses in India with substantial geographical reach to Asia Pacific, Europe, Middle East and America. Kotak Securities Limited has Rs. 1,202 crore of Assets under Management (AUM) as of 31st Dec, 2011. They have been the pioneers in providing many products and services which have now become industry standards for stock broking in India. Some of them include: Mobile stock trading application to keep track of your investments even on the go Facility of Margin Finance to the customers for online stock trading Investing in IPOs and Mutual Funds on the phone SMS alerts before execution of depository transactions Auto Invest - A systematic investing plan in Equities and Mutual funds Provision of margin against securities automatically against shares in your Demat account
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Best Brokerage Firm in India by Asia money in 2009, 2008, 2007 & 2006 UTI MF - CNBC TV18 Financial Advisor Awards - Best Performing Equity Broker (National) for the year 2009 Best Performing Equity Broker in India - CNBC TV 18 Optimix Financial Advisory Awards, 2008 Avaya Customer Responsiveness Awards (2007) in Financial Services Sector The Leading Equity House in India in Thomson Extel Surveys Awards for the year 2007 Euro money Award (2006 and 2007) - Best Provider of Portfolio Management: Equities Avaya Customer Responsiveness Awards (2006) in Financial Institution Sector
Free Way: Flat Rs 999 Cover Charge p.m, 0.03% per transaction High Trader: 6 Times Exposure Cash & Derivatives, Auto sq off 2:55 Cash Expressway: Spot payment, additional 0.5% charges. For Kotak Fast Lane / Keat Lite / Keat PRO X are trading interfaces Keat Desktop with advanced tools comes at a charge of Rs 750 p.m,
PRICING OF KOTAK
Account Opening: Rs 750 Demat: Rs 22.5 p.m Initial Margin: Rs 5000(Compulsory) Min Margin Retainable: Rs 1000 Brokerage Slab wise: Higher the volume, lower the brokerage. Even older customers (on 0.25% & 0.40%) have been moved to the slab wise structure wef 1/4/2011
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Delivery Vol p m < 1 lakhs 1 lakhs - 5 lakhs < 10 lakhs 10lakhs - 25 lakhs 25lakhs 2 Cr 2 Cr - 5 Cr > 5 Cr
Brokerage 0.65% 0.60% Square Vol off p m 0.10% Both Sides 0.08% Both Sides 0.06% Both Sides 0.05% Both Sides 0.04% Both Sides
Brokerage is inclusive of All Taxes Min Brokerage of Rs 0.01 per share Derivatives Vol off p m < 2 Cr 2 Cr - 5.5 Cr 5.5 Cr - 10 Cr > 10 Cr Brokerage is inclusive of All Taxes 5 lakhs -10 lakhs 10 lakhs -20 lakhs 20 lakhs -60 lakhs 60 lakhs 2 Cr >2 Cr DP Charges Extra Brokerage is inclusive of All Taxes Min Brokerage of Rs 0.05 per share 0.50% 0.40% 0.30% 0.25% 0.20% Brokerage 0.07% Both Sides 0.05% Both Sides 0.04% Both Sides 0.03% Both Sides
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1. KOTAK is charging low rate of Brokerage among the entire brokerage house. 2. Providing both types of trading to its customers ONLINE a well as OFFLINE. 3. One of the largest broking houses in India. 4. It is the first broking house with the Concept of ONLINE TRADING. 5. Maximum Satisfactory for its clients and for Employees too. 6. No work pressure for employees. 7. Having high security site with a PROTOCOL http.
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BRAND
The Kotak Mahindra Brand Identity serves not only to differentiate us from other brands but also communicates our attitude, character and values. We believe that our Brand Identity is an important strategic asset and we all are responsible for it. Our brand helps us communicate coherently and clearly with our customers, employees, business associates and all other stakeholders a critical requisite in an increasingly cluttered business world. Kotak works with the vision of being: The Global Indian financial services brand The most Preferred Employer in financial services The most trusted financial services company A Value Creator .
LEADERSHIP EDGE
Kotak Securities is one of the best stock broking houses in the country. We have been the pioneers in introducing the sub-broker model in the Stock Broking business. Some of the facts about Kotak Securities are mentioned below. AUM of Rs.1305.28 crores Over 16 years of experience Kotak Securities is one of Indias oldest and largest Portfolio Management service provider Introduced the flat brokerage fee structure model in India Pioneer to launch Portfolio Management Services for retail customers 16
Pioneer to introduce margin trading option for broking customers Pioneer to introduce Systematic Investment Plan (SIP) in direct equity through our product AUTOINVEST Pioneer to enable investing in IPO/Mutual Funds over the phone
Established in 1985, the Kotak Mahindra Group is one of Indias most reputed financial conglomerates. In February 2003, Kotak Mahindra Finance Limited, the groups flagship company was given the license to carry on banking business by the Reserve Bank of India (RBI). The group has a net worth of over Rs. 7,100 crore and has a distribution network of branches, franchisees, representative offices and satellite offices across cities and towns in India and offices in New York, London, San Francisco, Dubai, Mauritius and Singapore. The Group services around 6.5 million customer accounts.
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ETHICS
We believe that ethics of a company help to deliver value to all the stake holders and lead to success. Kotak Securities adheres to strict ethical practices and compliance that comprise of commitments towards customers, associates, stakes holders and employees. Strong Internal Control team ensures that every individual delivers based on policies set by the company and there is no compromise on the quality. Centralized Risk Management division regularly monitors the position of customers' portfolios to reduce the loss at the time of market volatility.
NETWORK
Kotak Securities has pan India presence with its network of Branches, Sub-brokers and Primary market sub brokers. Presence of Kotak Securities with over 20,000 primary market sub brokers, 1420 outlets in 447 cities makes it one of the broking houses with the largest network. Kotak Securities always looks forward to increasing its network to reach Investors and provide investment services to help them make right investment decisions.
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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. According to Michal Parness, Founder & CEO Investors dont Make Money in the Stock Market. One reason the institutions make so much money is that they are trading. They make money every time you buy or sell. They make money whether you win or lose. That means that when youre investing, youre basically just sitting there. Youre not going anywhere. Youre not making money as an investor. Trading the Trend: The Only Way to Make Money in the Market
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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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3.1 OBJECTIVE
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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 KOTAK SECURITIES Pvt Ltd is best services providers as a stock broker in Jalandhar. SECONDARY OBJECTIVE 1. To know about the awareness towards stock brokers and share market. 2. To study about the competitive position of KOTAK SECURITIES Pvt Ltd in Competitive Market. 3. To study about whether people are satisfied with KOTAK Services & Management System or not. The Broad objective of the project is to make clients and let them know about the different services offered by the Kotak. Also to convince them about how Kotak services out score there rivals.And how in future they will be benefited from the services offered by Kotak. We have to be in regular contacts with the clients so that we come to know about the problem they are facing. This also helps us to multiply our clients by getting the further references.
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4.1COMPARATIVE ANALYSIS OF STOCK BROKERS 4.1.1OTHER MAJOR PLAYERS IN THE REGION KARVY ICICI DIRECT HDFC SECURITIES INDIABULLS
KARVY
LOWER GROUND FLOOR; PRIME TOWERS; OFFICE NO PLOT NO.28, G T ROAD .3; PLOT NO.28; G.T. ROAD; JALANDHAR; PUNJAB 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 in roads 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.
1. Karvy comrades. 2. Karvy consultant ltd. 3. Karvy merchant banking. 4. Karvy global services ltd.
ICICI DIRECT (Local Branch) 188, Model Town, Model Town, Jalandhar - 144001 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. 4.1.3 PRODUCTS AND SERVICES OF ICICI DIRECT 1. Investing in Mutual funds 2. Personal Finance 3. Customer Service Features 4. IPOs 5. Margin Trading 6. Margin PLUS Trading 7. Call Trade 8. Trading on NSE/BSE 9. Trade in derivatives
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HDFC SECURITIES (Local Branch) 188-A, 2nd Floor, Front side, Model Town, Jalandhar. 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).
Orbis Securities Limited on January 5, 2004. The name of the company was again changed to Indiabulls Securities Limited on February 16, 2004 so as to capitalize on the brand image of the term Indiabulls in the company name. Indiabulls Securities (ISL) is one of India's leading capital markets companies providing securities broking and advisory services. Indiabulls Securities also provides depository services, equity research services and IPO distribution to its clients and offers commodities trading through a separate company. These services are provided both through on-line and off-line distribution channels. India bulls Securities is a pioneer of on-line securities trading in India. India bulls Securities in-house trading platform is one of the fastest and most efficient trading platforms in the country.
4.1.5 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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Do at least 30-40 calls a day, whenever required. Do Mapping of the Dealers of the branch.
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We use in our research primary data, as well as secondary data. Primary means collected a fresh, and the first time data and secondary means which are already available like annual report, magazines etc. Survey Method: - Survey refers to the method of securing information concerning 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: - In this method the enumerators along with schedules, contacts respondents, (here contact on telephone) 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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KNOWLEDGE
%AGE
Yes
80%
No
20%
TOTAL
100
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%AGE 24%
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INTERPRETATION
Today scenario is changed, so the most area is covered by the derivative and securities market. It is 28% of the total population.
3) The basic purpose of the investment. INVESTMENT PURPOSE Liquidity Returns Capital appreciation Tax benefits Risk covering Others TOTAL PERCENTAGE 30% 25% 10% 20% 5% 10% 100
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INTERPRETATION
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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INTERPRETATION
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% 100
INTERPRETATION
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% 100%
INTERPRETATION
Only 60% respondents have de-mat and trading account and remaining 40% says no because they dont know why shares move up and down.
PERCENTAGE
68% 7% 3% 15% 7%
100
INTERPRETATION
In KOTAK Ltd 68% respondents have de-mat & trading account because of better services. 8) Specify the reason of satisfaction with the current broking house.
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INTERPRETATION
57% respondents are satisfied with the Brokerage charges,25% with the Services & 18% with the Operating Expenses of the Broking house.
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6.1 FINDINGS
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According to the survey most of the customers of Kotak Ltd says that it is pocket . Coming to satisfaction 57% say Kotak Ltd is better than others stock brokers due Lack of promotional activities undertaken by Kotak securities Ltd. in Jalandhar Main purposes of investments are returns & liquidity. Investors take risk as well as returns into their mind while making the investment. People want to invest their money in the security market but they dont have People pay more emphasis on brokerage than service provided by brokerage
friendly.
proper knowledge. houses. OTHER FINDINGS (During Training) MUCH TIME They take too much time to open a Demat account as against promised. PAN CARD MANDATORY PAN Card is mandatory to open a demat account and this increased our work to make arrangements for issuing a PAN Card.. LIMITED BRANCHES It is having limited number of branches in India and thats why it creates problem in opening the accounts. MONEY- MONEY- MONEY Only focus is to open the Demat account and take the money from the customer. UNCONTROLLED BRANCHES No control on the branches. GOOD RESEARCH REPORTS But also provide good research reports after their technical and fundamental analysis only from online account.
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6.2 SUGGESTIONS
Improvement in the opening of De-mat & contract notice procedure is required. There should be a limited number of clients under the relationship manger (Mapping). 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. KOTAK should focus on customer satisfaction and the product availability and treat their customer as GOD. The best way of competing with the competitor is to make your customer satisfied, which results in the loyalty of your customers for your company. KOTAK should continuously do a RESEARCH AND DEVELOPMENT PROGRAMME, which will result in the information about the customers. For that they should appoint R&D depts. This will continuously do this work Commitment should be equalized for every person. Provide the facility of free demonstrations for all.
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1. 2. 3. 4. 5.
TIME PRESSURE As the time was only 6 weeks, there was a pressure to prepare the report with accurate data and present it to the Assistant Manager. EXPENSES NOT PROVIDED Expenses which were incurred to get the information were not provided by the company. FINDING ACCURATE DATA There was a pressure to present only accurate data not fake which took lots of time in proving that the data was accurate. PEOPLE NOT READY TO GIVE INFORMATION People who were approached were reluctant to provide the information due to their busy schedule. MARKET TIME This was the biggest problem as we could contact our Assistant Manager only after the share market closed and they completed their work and settlements that is after 4 P.M.
6.4 CONCLUSION 47
On the basis of the study it is found that KOTAK SECURITIES Pvt. Ltd is better services provider than the other stockbrokers because of their timely research and personalized advice on what stocks to buy and sell. Kotak Ltd. provides the facility of Trade as well as relationship manager facility for encouragement and protect 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.
From the above study, it can be concluded that although KOTAK has earned some reputation but it will take some time to get established and standardized its branches.
6.5 RECOMMENDATIONS
1. MORE BRANCHES Need to open more branches to be a topper in market because it has a low distribution network.
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2.
LESS TIME They should try to make some arrangements to reduce account opening time by verifying documents at branch itself. 3 account. LINK-BANK A/Cs Linked as many accounts as client wants to its online
5. 6. 7.
NEW BANKS IN THE KITTY Need to tie up with major banks like SBI, Allahabad Bank, Bank of Baroda etc. CUSTOMER SATISFACTION The company should focus on the customer satisfaction not on just taking money from their pocket. CONTROLLED BRANCHES The company would have to make some arrangements to control the branches and make standardized procedures for all of them for their better control and performance appraisal.
BIBLIOGRAPHYBooks
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Sharma, D.D., Marketing Research, New Delhi, Sultan Chand & Sons Educational Publishers, 2005. BERIG C. MARKETING RESEARCH NEW DELHI, TATA Mc GRAW-HILL Kothari, C.R., Research Methodology, Second Edition, New Delhi, New Age International (p) Ltd Publishers, 2006.
Other Sources Securities Market (Basic) Module: --NCFM Economic Times. Business Standard. Training Kit Provided by the KOTAK.
APPENDIX
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(QUESTIONNAIRE)
3) 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
4) What is the basic purpose of your investment? a) Liquidity c) Capital appreciation e) Tax benefits b) Returns d) Risk covering
5) What are the most important things you take into account, while investment? a) Risk b) Returns c) Both
making any
a) Partial
b) Complete
c) Nil
8) In which company you have D-mat & Trading account? a) Kotak Ltd c) ICICI direct e) HDFC securities b) Karvy d) Indiabulls f) others
10) What is the reason? Please specify. a) Services _______________________________________ b) Brokerage _____________________________________ c) Operating expenses ______________________________ d) Others ________________________________________
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c) MCX
d) NCDEX
Suggestion:-
DATE:
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