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Report on ICICI Web Trade Ltd.

1. INTRODUCTION

ICICI Web Trade Ltd. has assigned a project of Corporate Marketing for their
products at Rajkot city. Its product includes Online Share Trading Account (I-direct A/C)
and Wise Investment Demat Account.

Corporate marketing includes marketing in government offices, agencies,


departments, private companies, small business firms, professional practices and
servicemen both including private and government.

General environment in ICICI Web Trade Ltd. during project was friendly and
competitive. There was more of team work environment. Sales executives were responsible
to their team leader in a team of three to five persons. Team leaders have to report to
Assistant Unit Manager who was the head of ICICI Web Trade Ltd. Rajkot branch.

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2. INDUSTRY INTRODUCTION

2.1 Brief History of Industry


The ICICI Web Trade is mainly dealing in the security market. The
security market of India is very widely spread and still it is growing at a good rate. The
major institutions which are involved in the security market are performing the role of the
intermediaries for “Buyers” and “Sellers” in the market. The service provided by the
mediator is easy transaction between two parties.

Before 1998 the security market was dealing in physical format. There were
share brokers who performed the job of the intermediaries between the two parties. The
main markets were the stock exchanges situated in different parts of the country. The
brokers were purchasing and selling the securities on behalf of the investors. The major
stock exchanges are as follow.

2.1.1 NATIONAL STOCK EXCHANGE {N.S.E.}:-

NSE was set up in 1993 at Delhi to encourage stock exchange reforms


through the system modernization and competition. The NSE was following the screen
based trading system. The system through which the NSE is trading is known as the NEAT
[National Exchange for Automated Trading.]. It allows members across the country to trade
simultaneously and with full efficiency.

As on December 1996 there were around 1200 companies traded on


NSE. Out of 1200 companies only 535 companies were listed and rest were permitted
companies. The market capitalization as on January was 4.2 trillion. The total turn over of
the NSE as on January was around Rs. 2, 16,000 crores. This was more than nine times
than the turn over of 1995, which was Rs. 27,000 crores.

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2.1.2 BOMBAY STOCK EXCHANGE {B.S.E.}:-

The BSE is situated at Mumbai more popularly known as the


“DALAL STREET”. As the Mumbai is the trading capital of the nation, most of the
companies prefer to list their shares in the BSE. The BSE had an extra age over the NSE in
number of the companies listed. As on December 1996, only 1200 companies were traded
on the NSE where as on BSE on the same day 5999 companies were traded. But since
November 1995 trading volumes on NSE is more than the BSE. The BSE is also a major
party who has contributed to the development of security market in India.

2.1.3 OVER THE COUNTER EXCHANGE OF INDIA {O.T.C.E.I.}:-

The OTCEI was established in the October 1990. It was jointly


promoted by following institutions.

• Unit Trust of India

• ICICI

• IDBI

• SBI capital Market Ltd.

• IFCI

• GIC

The OTCEI is an exchange where all the activities are computerized. It includes
the trading, billing, payments etc…… This had opened a new horizon for the security
market in India. As all the transactions were done through computers, it improved the
speed, efficiency and transparency of the transaction.

2.2 Current Status of the Industry

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The security market in India has developed a lot in last 5 to 7 years. The
development is due to the increasing awareness among the people; developing
communicational media and most importantly change in the way of transaction i.e. on line
trading of securities. BSE Online Share Trading “B.O.L.T.” has brought revolution in the
security market.

Introduction of private banks in security market dealing and real estate


business have brought the efficiency and competition in the market. Mutual funds are also
one of the major elements which have influenced the growth of security market. Foreign
Investment Institution [F.I.I.] and Foreign Direct Investment [F.D.I.] has also contributed in
the growth of the security market in India.

Currently in the security market following securities are been traded by the
investors, institutional buyers and foreign investors.

• Shares [ Equity shares & preference shares ]

• Debentures

• Government Bonds

• Mutual Funds

• Commercial papers

The main feature of today’s market is the Dematerialized form of almost all
securities. Previously the securities were available in materialized form i.e. in papers but
now it is available in Dematerialized form. It means securities are not given in paper format
but in ELECTRONIC format it is been directly credited in purchaser’s Demat account.

The main benefits of Dematerialized form are as follow.

• Chances of fraud are minimized.

• Physical delivery of security is terminated

• No chance of theft of security

• Quick hand over and less transaction time.

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2.3 Future of the Industry

Looking at the past and present of the industry we can interpret the future of
industry. As India is a developing country and in economical aspect industries are still at
growing stage, we can surely assume the future of industry is bright and security market is
also going to grow with the industry.

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3. COMPANY INTRODUCTION

3.1 Basic Information

 NAME :- ICICI Web Trade Limited

 REGISTERED OFFICE :- ICICI Bank Towers


Bandra-Kurla Complex,
Mumbai 400051
India

 TEL :- (022) 56511443

 FAX :- (022) 56511451

 WEBSITE :- www.icicidirect.com

 CHIEF EXE. NAME :- Mr. K. V. KAMATH

 BUSINESS GROUP :- ICICI GROUP

 BANKERS :- ICICI BANK

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3.2 Board Members

Mr. N. Vaghul, Chairman

Mr. Uday M. Chitale


Mr. Sridar Iyengar
Mr. Lakshmi N. Mittal
Mr. Anupam Puri
Mr. Vinod Rai
Mr. Somesh R. Sathe
Mr. M.K. Sharma
Mr. P.M. Sinha
Prof. Marti G. Subrahmanyam
Mr. T.S.Vijayan
Mr. V. Prem Watsa
Mr. K.V. Kamath, Managing Director & CEO
Ms. Lalita D. Gupte, Joint Managing Director
Ms. Kalpana Morparia, Deputy Managing Director
Ms. Chanda Kochhar, Executive Director
Dr. Nachiket Mor, Executive Director

3.3 Board Committees

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Agriculture & Small Enterprises Audit Committee


Business Committee

Mr. N. Vaghul
Mr. Uday M. Chitale
Mr. Somesh R. Sathe
Mr. Somesh R. Sathe
Mr. P. M. Sinha
Mr. M. K. Sharma
Mr. M. K. Sharma

Board Governance & Remuneration Business Strategy Committee


Committee
Mr. N. Vaghul
Mr. N. Vaghul Mr. Anupam Puri
Mr. Anupam Puri
Mr. M.K. Sharma Mr. M. K. Sharma
Mr. P.M. Sinha Mr. P. M. Sinha
Prof. Marti G. Subrahmanyam
Mr. K. V. Kamath

Credit Committee Fraud Monitoring Committee

Mr. Uday M. Chitale


Mr. N. Vaghul
Mr. M.K. Sharma
Mr. Somesh R. Sathe
Mr. K.V. Kamath
Mr. M.K. Sharma
Ms. Kalpana Morparia
Mr. K. V. Kamath
Ms. Chanda D. Kochhar

Risk Committee Share Transfer & Shareholders'/


Investors' Grievance Committee
Mr. N. Vaghul
Prof. Marti G. Subrahmanyam Mr. Uday M. Chitale
Mr. Somesh R. Sathe
Mr. Uday M. Chitale Ms. Kalpana Morparia
Mr. V. Prem Watsa Ms. Chanda D. Kochhar

Mr. K. V. Kamath

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Committee of Directors Asset-Liability Management Committee

Mr. K. V. Kamath Ms. Lalita D. Gupte


Ms. Lalita D. Gupte Ms. Kalpana Morparia
Ms. Kalpana Morparia Ms. Chanda D. Kochhar
Ms. Chanda D. Kochhar Dr. Nachiket Mor
Dr. Nachiket Mor

3.4 Brief history of the ICICI Group

ICICI group is a dynamic business group in financial sector of India. It has


got growth at a very good speed and is still growing at better speed. The performance of the
bank is consistently growing at a very good speed. This is the reason that ICICI bank has
been ranked 2nd in all over performance in India. It is 2nd no bank after SBI group bank
which is leading the bank sector. But still in the private sector banks ICICI is leading the
market leaving behind banks like HDFC, Standard Chartered, Kotak Mahindra etc..

The history of growth of the ICICI is as follow in sequence of years.

1955 :The Industrial Credit and Investment Corporation of India Limited (ICICI)
incorporated through the collective efforts of the World Bank, the Government of
India and representatives of Indian industry. Its main aim was to provide medium
term and long term loans to the Indian business units. Mr.A.Ramaswami Mudaliar
was been elected as the first Chairman of ICICI Limited

1956 :ICICI declared its first Dividend at 3.5%. Within one year of the operation bank
started earning profit and declared dividend.

1958 :Mr.G.L.Mehta was appointed the 2nd Chairman of ICICI Ltd.

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1960 : ICICI building at 163, Backbay Reclamation was inaugurated.

1967 :ICICI made its first debenture issue for Rs.6 crore, which was oversubscribed.

1969 :First two regional offices in Calcutta and Madras were opened.

1972 :Second entity in India to set-up merchant banking services.

1977 :ICICI sponsors the formation of Housing Development Finance Corporation.


Managed its first equity public issue

1978 :Mr. James Raj appointed as the fourth Chairman of ICICI.

1979 :M r .Siddharth Mehta appointed as the fifth Chairman of ICICI.

1982 :Becomes the first ever Indian borrower to raise European Currency Units.

: ICICI commences leasing business.

1984 :Mr. S. Nadkarni appointed as the sixth Chairman of ICICI.

1985 :Mr.N.Vaghul appointed as the seventh Chairman and Managing Director of ICICI.

1986 :ICICI first Indian Institution to receive ADB Loans. First public issue by an Indian
entity in the Swiss Capital Markets.

: ICICI along with UTI sets up Credit Rating Information Services of India
Limited, (CRISIL) India's first professional credit rating agency.

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:ICICI promotes Shipping Credit and Investment Company of India Limited.


(SCICI)

:The Corporation made a public issue of Swiss Franc 75 million in


Switzerland, the first public issue by any Indian equity in the Swiss Capital Market.

1987 :ICICI signed a loan agreement for Sterling Pound 10 million with Commonwealth
Development Corporation (CDC), the first loan by CDC for financing projects in
India.

1988 :ICICI promotes TDICI - India's first venture capital company.

1993 : ICICI sets-up ICICI Securities and Finance Company Limited in joint venture with
J. P. Morgan.

:ICICI sets up ICICI Asset Management Company.

1994 : ICICI sets up ICICI Bank.

1996 :Mr.K.V.Kamath appointed the Managing Director and CEO of ICICI Ltd

1997 :The name "The Industrial Credit and Investment Corporation of India
Limited " was changed to "ICICI Limited".

: I C I C I announces takeover of ITC Classic Finance.

1998 :Introduced the new logo symbolizing a common corporate identity for the ICICI
Group.

: ICICI announces takeover of Anagram Finance.

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1999 :ICICI launches retail finance - car loans, house loans and loans for consumer
durables.

: ICICI becomes the first Indian Company to list on the NYSE through an issue of
American Depositary Shares.

2000 :ICICI Bank becomes the first commercial bank from India to list its stock on
NYSE.

: I C I C I Bank announces merger with Bank of Madura.

2001 :The Boards of ICICI Ltd and ICICI Bank approved the merger of ICICI with ICICI
Bank.

2002 :Moodys' assign higher than sovereign rating to ICICI.

: Merger of ICICI Limited, ICICI Capital Sercvices Ltd and ICICI Personal
Financial Services Limited with ICICI Bank.

The ICICI group is shown in following diagram.

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ICICI Bank is India's second-largest bank with total assets of about Rs.167659 crore
and a network of over 560 branches and offices and about 1900 ATMs. ICICI Bank offers a
wide range of banking products and financial services to corporate and retail customers
through a variety of delivery channels and through its specialised subsidiaries and affiliates
in the areas of investment banking, life and non-life insurance, venture capital and asset
management. ICICI Bank's equity shares are listed in India on stock exchanges at Kolkata
and Vadodara, the Stock Exchange, Mumbai and the National Stock Exchange of India
Limited and its American Depositary Receipts (ADRs) are listed on the New York Stock
Exchange (NYSE).

ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial
institution, and was its wholly-owned subsidiary. ICICI's shareholding in ICICI Bank was
reduced to 46% through a public offering of shares in India in fiscal 1998, an equity
offering in the form of ADRs listed on the NYSE in fiscal 2000, ICICI Bank's acquisition
of Bank of Madura Limited in an all-stock amalgamation in fiscal 2001, and secondary
market sales by ICICI to institutional investors in fiscal 2001 and fiscal 2002. ICICI was
formed in 1955 at the initiative of the World Bank, the Government of India and
representatives of Indian industry. The principal objective was to create a development
financial institution for providing medium-term and long-term project financing to Indian
businesses. In the 1990s, ICICI transformed its business from a development financial
institution offering only project finance to a diversified financial services group offering a

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wide variety of products and services, both directly and through a number of subsidiaries
and affiliates like ICICI Bank. In 1999, ICICI become the first Indian company and the first
bank or financial institution from non-Japan Asia to be listed on the NYSE.

After consideration of various corporate structuring alternatives in the context of the


emerging competitive scenario in the Indian banking industry, and the move towards
universal banking, the managements of ICICI and ICICI Bank formed the view that the
merger of ICICI with ICICI Bank would be the optimal strategic alternative for both
entities, and would create the optimal legal structure for the ICICI group's universal
banking strategy. The merger would enhance value for ICICI shareholders through the
merged entity's access to low-cost deposits, greater opportunities for earning fee-based
income and the ability to participate in the payments system and provide transaction-
banking services. The merger would enhance value for ICICI Bank shareholders through a
large capital base and scale of operations, seamless access to ICICI's strong corporate
relationships built up over five decades, entry into new business segments, higher market
share in various business segments, particularly fee-based services, and access to the vast
talent pool of ICICI and its subsidiaries. In October 2001, the Boards of Directors of ICICI
and ICICI Bank approved the merger of ICICI and two of its wholly-owned retail finance
subsidiaries, ICICI Personal Financial Services Limited and ICICI Capital Services
Limited, with ICICI Bank. The merger was approved by shareholders of ICICI and ICICI
Bank in January 2002, by the High Court of Gujarat at Ahmedabad in March 2002, and by
the High Court of Judicature at Mumbai and the Reserve Bank of India in April 2002.
Consequent to the merger, the ICICI group's financing and banking operations, both
wholesale and retail, have been integrated in a single entity.

4. WHY ONLINE SHARE TRADING?

4.1 Safety: -

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The safety of transactions on the Internet depends on the encryption system used. The
better this transaction system, the more difficult it is for any person to hack the site.

Internationally, the best system available today is the 128-bit encryption, a system,
which even the Pentagon uses. ICICIdirect.com is one of the few online share-trading sites
in the country equipped with this 128-bit encryption.

Secondly, you too can ensure the safety of the transactions online. You normally get a
secured user id and password, the secrecy of which is to be maintained entirely by you.

Thirdly, if the transaction system requires no manual intervention, you further improve the
safety in the transactions. Among Indian sites, ICICIdirect.com is one of the very few fully
integrated online trading sites. This enables the elimination of the possibility of any manual
intervention, which means orders are directly sent to the exchange ensuring that you get the
best and right price.

4.2 Security of money, Demat shares and transaction documents:-

In systems where the broking, banking and Demat accounts are completely
integrated, your money remains in your own bank account, and does not get transferred to
the broker’s pool account

4.3 Trading through the Internet is not a difficult and cumbersome process:-

The experience of trading through Internet depends a great deal on the type of
product offered by the site. Say, for example, one of the issues bothering you may be tired
of the paperwork involved after every trade in writing cheques or TIFDs.

You would then seek a system that eliminates these processes.

In online trading sites, the greater the back-end integration of the system, the greater the
amount of work the sites do for you, therefore greater the convenience available to you.

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For example, incase of ICICIdirect.com, your broking account, bank account and demat
account are linked electronically. So when you punch in a buy or sell order, the system
checks the funds/ shares availability and automatically credits/debits the accounts once the
order is executed by the exchange.

4.4 Demonstration:-

Contrary to common perceptions, trading through Internet does not require either any
expertise in working on the computer, or any special financial skills.

You could try the demo (demonstration) of the online trading sites like ICICIdirect.com to
find out why others like you, with little or no knowledge about the Internet or finance, have
switched on to online trading. Or you could attend the demonstrations sessions held by
such websites in your city.

4.5 Reasonable Cost:-

The convenience provided by online trading is even then worth the costs involved.

However, it is important to compare various online trading sites on brokerage rates,


inclusive of all sub-charges.

4.6 Reasons for Shifting from Broker to Online Trading:-

Many of those customers who have chosen to trade shares online today, had at one
point of time been trading through offline brokers, just like you are today. They took a
chance to go online and trade shares. After realizing the advantages of trading shares
online, they have shifted to online trading now. In fact, there are more than lake customers

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who have already opened an account with ICICIdirect.com. Just try trading shares after
opening an account with any online trading site. However, before choosing an online
trading site, please compare all such websites and then make a decision

4.7 Instantaneous Updates:-

The tickers available at online trading sites provide instantaneous updates. Also,
some websites can offer to transact in those shares instantaneously and with convenience.

4.8 Trades at Current Prices:-

The solution to your problem could be provided in different ways by different online
share trading sites. At ICICIdirect.com, for any trade order, the customer is asked to click
"Proceed" after he has the opportunity to completely check the order verification form.

Moreover, you have the option of modifying or canceling the order till the moment the
order is executed at the exchange.

Finally, online trade confirmations reach reaches our customers within 4 minutes,
while contract notes are dispatched at the end of the day and reach within 24-36 hours.

With ICICIdirect.com, you decide what you want to buy and buy the share at the
price you want to and therefore you are in total control of your trades.

4.9 Other Services:-

Internet has brought to the retail investors what was till sometime ago the sole
prerogative of large brokerage houses and high net worth individuals. For example at
ICICIdirect.com one can access multitude of resources to arrive at his stock picks. Reliable
research with an enviable track record is available free of cost.

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5. PRODUCTS OF ICICIDIRECT.COM

ICICI Web Trade is mainly dealing with share, stock, government


bond, mutual fund and IPO (initial public offer). ICICI Web Trade is providing mainly
three type of product with different facilities. The core product of ICICI Web Trade is

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Demat account. ICICI Web Trade is providing the core product with extra service of online
share trading to its customer as per their requirement.

There are three type of account in ICICI Web Trade. They are as
follow.

• Simple demat account

• Wise investment

• I-Direct.com

5.1 Simple Demat Account:-


The simple Demat account is the simplest form of ICICI Web Trade
product. It gives a Demat account to account holder. The customer can purchase and sell
the share, government bond, and debenture. In this account the customer is suppose to deal
in share market with the help of broker.

Following are the regulatory aspects of simple Demat account.

• Customer can deal only with help of broker.

• No online share trading is allowed.

• Account opining charge is Rs. 350

• If customer does not have saving account in ICICI Bank then he or she has to
deposit Rs.2500 in the bank.

• Statement of Demat account is given free of cost to the customer per quarter
and if he or she wants monthly statement than Rs. 200 is charge per annum.

Charges:-
• Account opining charge is Rs. 350
• Per purchase customer has to pay 0.02% of the amount of purchase.
Minimum Rs. 20

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• Per sale customer has to pay 0.04% of the amount of sale. Minimum Rs. 20
• Maintains charge of demat account is Rs. 350 per annum.
• Script maintains charge 0.75 paisa per script per month.
• Trade rejection charge is Rs. 50 per transaction rejected.

Limitation:-
• Online share trading is not available.
• Transaction speed is very low compare to online share trading.
• Other competitors are providing the same service at lower rate.

5.2 Wise Investment Account:-


The Wise Investment Account is some what advanced version of simple Demat account.
This account gives the customer the freedom of doing online trading in Government bonds,
Initial Public Offers and Mutual funds. Again here the main trading system is through the
broker only.

Charges:-
• Account opining charge is Rs. 500
• Per purchase customer has to pay 0.02% of the amount of purchase.
Minimum Rs. 20
• Per sale customer has to pay 0.04% of the amount of sale. Minimum Rs. 20
• Maintains charge of demat account is Rs. 500 per annum.
• Script maintains charge 0.75 paisa per script per month.
• Trade rejection charge is Rs. 50 per transaction rejected.
• A saving account in ICICI BANK is necessary.

Limitation:-

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• Online trading in equity is not allowed.


• Transaction time is longer than online trading.
• Portfolio is managed by broker, not by our self.
• Unnecessary investment of Rs 5000 as balance in saving account.

5.3 I-Direct.com:-
The most advanced version of share trading is “Direct.com”. It allows the trading
through internet and gives totally paperless work. It is the most effective way of doing the
share trading. “Direct.com” allows the customer to work at his own. Means it removes the
broker and a terminal is given in hand of customer.

Charges:-
• Rs. 750 is taken as lifetime registration charge for using
ICICIDIRECT.COM.
• Rs 5000 are to be maintained as quarterly average balance in saving account.
• The brokerage is taken on TURNOVER of three month. As the turnover
increase, brokerage rate comes down. The rate varies from 0.75 paisa to 0.10
paisa.

Limitation:-
• High brokerage charge for lower turnover

6. SERVICES OF ICICIDIRECT.COM

A product for every need: ICICIdirect.com is the most comprehensive website, which
allows you to invest in Shares, Mutual funds, Derivatives (Futures and Options) and other
financial products. Simply put we offer you a product for every investment need of yours.

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6.1 Trading in shares:-


ICICIdirect.com offers you various options while trading in shares.

Delivery Trading:- This is a delivery based trading system, where in you can place
orders for transactions intended for taking delivery. Through ICICIdirect.com, buy and sell
shares of about 2500 actively traded scrip’s on the stock exchange.

Day Trading:- You can also do an intra-settlement trading up to 10 times your available
funds, wherein you take long buy/ short sell positions in stocks with the intention of
squaring off the position within the same day settlement cycle.

MarginPLUS Trading:- Through MarginPLUS you can do an intra-day position in the


equity segment and at the same time, place a cover order for this position specifying the
Stop Less Trigger Price and the limit price. Margin requirement could be as low as 4%.

Spot Trading:- This facility can be used only for selling your Demat stocks which are
already existing in your Demat account. When you are looking at an immediate liquidity
option, 'Cash on Spot' may work the best for you, On selling shares through "cash on spot",
money is credited to your bank a/c the same evening & not on the exchange payout date.
This money can then be withdrawn from any of the ICICI Bank ATMs.

BTST:-Buy Today Sell Tomorrow (BTST) is a facility that allows you to sell shares
even one day after the buy order date, without you having to wait for the receipt of shares
into your Demat account.

CallNTrade:- CallNTrade allows you to call on a local number in your city & trade on
the telephone through our Customer Service Executives. This facility is currently available
in over 11 major states across India.

Trading on NSE/BSE:- Through ICICIdirect.com, you can trade on NSE as well as


BSE.

Market Order:- You could trade by placing market orders during market hours that
allows you to trade at the best obtainable price in the market at the time of execution of the
order.

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Limit Order:- Allows you to place a buy/sell order at a price defined by you. The
execution can happen at a price more favorable than the price, which is defined by you,
limit orders can be placed by you during holidays & non market hours too.

6.2 Trade in Derivatives:-


Futures:-

Through ICICIdirect.com, you can now trade in index and stock futures on the NSE. In
futures trading, you take buy/sell positions in index or stock(s) contracts having a longer
contract period of up to 3 months.

Trading in FUTURES is simple! If, during the course of the contract life, the price
moves in your favors (i.e. rises in case you have a buy position or falls in case you have a
sell position), you make a profit.

Presently only selected stocks, which meet the criteria on liquidity and volume, have
been enabled for futures trading.

Calculate Index and Know your Margin are tools to help you in calculating your margin
requirements and also the index & stock price movements. The ICICIDIRECT
UNIVERSITY on the HOME page is a comprehensive guide on futures and options
trading.

Options:-

An option is a contract, which gives the buyer the right to buy or sell shares at a specific
price, on or before a specific date. For this, the buyer has to pay to the seller some money,
which is called premium. There is no obligation on the buyer to complete the transaction if
the price is not favorable to him.

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To take the buy/sell position on index/stock options, you have to place certain % of
order value as margin. With options trading, you can leverage on your trading limit by
taking buy/sell positions much more than what you could have taken in cash segment.

The Buyer of a Call Option has the Right but not the Obligation to Purchase the
Underlying Asset at the specified strike price by paying a premium whereas the Seller of
the Call has the obligation of selling the Underlying Asset at the specified Strike price.

The Buyer of a Put Option has the Right but not the Obligation to Sell the Underlying
Asset at the specified strike price by paying a premium whereas the Seller of the Put has
the obligation of buying the Underlying Asset at the specified Strike price.

By paying lesser amount of premium, you can create positions under OPTIONS and
take advantage of more trading opportunities.

6.3 Investing in Mutual funds:-


ICICIdirect.com brings you the same convenience while investing in Mutual funds also
- Hassle free and Paperless Investing.

With the inclusion of Standard Chartered MF, you can now invest on-line in 10 mutual
Funds through ICICIdirect.com. Prudential ICICI MF, JM MF, Alliance MF, Franklin
Templeton MF, Sundaram MF, Birla Sun Life MF, HDFC MF, Principal MF and IL & FS
MF are the Mutual Funds available for investment. You can invest in mutual funds without
the hassles of filling application forms or any other paperwork. You need no signatures or
proof of identity for investing.

Once you place a request for investing in a particular fund, there are no manual
processes involved. Your bank funds are automatically debited or credited while
simultaneously crediting or debiting your unit holdings.

You also get control over your investments with online order confirmations and order
status tracking. Get to know the performance of your investments through online updation
of MF portfolio with current NAV.

6.3.1 ICICIdirect.com offers you various options while investing in Mutual Funds:-

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Purchase:- You may invest/purchase Prudential ICICI MF, JM MF, Alliance MF,
Franklin Templeton MF, Sundaram MF, Birla Sun Life MF, HDFC MF, Principal MF, IL &
FS MF and Standard Chartered MF without the hassles of filling application forms.

Redemption:-In addition to giving hassle-free paperless redemption, ICICIdirect.com offers


faster liquidity. You can redeem the mutual fund units through ICICIdirect.com. The money
will be credited to your bank account automatically 3 days after the order placement date.

Switch:- To suit your changing needs you may wish to shift monies between different
schemes. You can switch your monies online from one scheme to another in the same fund
family without any hassles.

Systematic Investment plans (SIP):- SIP allows you to invest a certain sum of money
over a period of time periodically. Just fill in the investment amount, the period of
investment and the frequency of investing and submit. ICICIdirect.com will do the rest for
you automatically investing periodically for you.

Systematic withdrawal plan:- This allows you to withdraw a certain sum of money over a
period of time periodically.

Transfer-in:- You can convert your existing Mutual funds into electronic mode through a
transfer-in request.

6.4 IPOs and Bonds Online:-

You could also invest in Initial Public Offers (IPOs) and Bonds online without going
through the hassles of filling ANY application form/ paperwork.

Get in-depth analyses of new IPOs issues (Initial Public Offerings) which are about to
hit the market and analysis on these. IPO calendar, recent IPO listings, prospectus/offer
documents, and IPO analysis are few of the features, which help you, keep on top of the
IPO markets.

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6.5 Content Features:-


There are a host of features on ICICIdirect.com that shall help you make informed
investment decisions.

We provide you with the indices of major world markets, nifty futures and ADR prices
of Indian scrips. Get daily share prices of all scrips, monthly and yearly high/lows etc
through Market Watch.

Get breaking news from CNBC and Reuters. Catch a glimpse of News Headlines
through our scrolling Direct News Headlines.

Get a snapshot of the latest developments in the markets through the day using Market
Commentary. You can get weekly snapshots also. Use Pick of the week which focuses on
fundamental stocks with sound prospects.

Catch interviews, reactions and comments from industry leaders with CEO Call. Track
the movement of leading scrips within a sector across 12 sectors using Market@Desktop.

Equip yourself with our barometers. Market Barometer gives you in-depth information
of the weightages of shares on Nifty and Sensex. Get a glimpse of the performance of
various industry sectors through Industry Barometer.

Direct Technical Charts offer interactive charting with advanced indicators. Get a bird's
eye view of over 5000 companies at a single click using Company Snapshot. Glance
through analyst recommendations using Multex Global Estimates.

In case, you are not too comfortable with share trading, try our Learning Centre, which is a
tutorial on investments and My Research, that helps you to research a stock better.

6.6 Personal Finance:-


Use our Personal Finance section and get hold of tools that can help you plan your
investments, retirement, tax etc. Analyse your risk profile through the Risk Analyzer and
get a suitable investment portfolio plan using Asset Allocator.

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6.7 Customer Service Features:-

With 'ICICIdirect Customer Tools & Updates' you can trouble shoot all your problems
online.

Address your trading queries on-line through "Easy Mail". You can view and change your
profile or password on-line through General Profile option.

Get details of ICICI Centers, our sales and service offices, across India through branch
locator.

View your Account Statement and Bill Summary of your transactions online using bills &
accounts.

View your Digital Contract Notes instantly. View various charges through the Fee Schedule
option

Give your feedback or viewpoint through the Viewpoint online.

Enroll yourself for various ICICIdirect.com Workshops through Register for Customer
Sessions.

6.8 Product features of ‘Buy Today Sell Tomorrow’


‘Buy today sell tomorrow’ hereinafter referred to as “BTST”, is a facility offered by
ICICI WEBTRADE LIMITED which allows the Client to sell the securities which the
Client had purchased through ICICI WEBTRADE, before the same are credited to the
Client’s Demat account, and hence the Client need not wait to sell the securities till the
actual credit of the purchased securities into his Demat account.

BTST facility is offered to the Resident individual Indian clients of ICICI


WEBTRADE. Notwithstanding the above, ICICI WEBTRADE reserves the right to refuse

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this facility to any Client or group of Clients at its sole discretion and without assigning any
reason.

ICICI WEBTRADE shall decide upon the list of securities, which shall be eligible
for this facility. This list would be subject to change at the sole discretion of ICICI
WEBTRADE from time to time. ICICI WEBTRADE may also at its sole discretion decide
to withdraw a particular security from the list without notice to the clients and without
assigning any reasons whatsoever. Currently all S&P CNX NIFTY and CNX NIFTY
JUNIOR scrips are available under BTST® facility.

Under BTST® facility the quantity of securities available for sale shall be only such
percentage of the quantity of securities bought by the Client, as may be permitted by ICICI
WEBTRADE from time to time. ICICI WEBTRADE may at its sole discretion vary the
percentage, if it deems fit, without notice to the clients and without assigning any reasons
whatsoever and the Client will at all times be required to abide by such decision. The Client
shall be permitted to sell the previously bought security under BTST® within such number
of days as prescribed by ICICI WEB TRADE from time to time. Securities bought on a
particular day (i.e. day T) can be sold by the Client within the period commencing on T+1
day and ending on T + 2 day (or by an earlier day if so specified by ICICI WEBTRADE).
The Client will not be allowed to sell the securities on T + 3 under this facility. The
purchase and sale transactions of the securities under the BTST® facility will be on the
same Exchange i.e. securities purchased from NSE, will be allowed to be sold only on the
NSE, and not on the BSE and vice versa. However in case of securities under no-delivery
period, the T+1 day will start from the day on which the scrip comes out of no delivery.

Securities purchased by the Client which are pending to be credited to the client’s
Demat account can be viewed by the Client after logging in for trading on the ‘Security
Projections’ page of the Website and the Client may place order to sell the eligible
securities up to the permitted percentage under the BTST® facility by clicking on the

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BTST® Sell Hyperlink. The client can see the maximum number of shares which can be
sold under

7. ADVANTAGES OF ICICIDIRECT.COM

7.1 Unique of ICICIDirect.Com:-

A Unique 3-in-1 account that gives you:

Convenience:- the 3-in-1 account integrates your banking, broking and demat accounts.
This enables you to trade in shares without going through the hassles of tracking settlement

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cycles, writing cheques and Transfer Instructions, chasing your broker for cheques or
Transfer Instructions etc.

Speed:- You can now get the latest quotes of scrips on ICICIdirect.com and place an order
almost instantly.

Control:- You can be assured that you have in fact placed an order at the price you always
wanted to, but may not have been able to do so till now. Thereby giving you control over
your own trades.

Independence:- Instead of transferring monies to a broker's pool or towards deposits, you


can manage your own demat and bank accounts when you trade through ICICIdirect.com.

Trust:- ICICIdirect.com comes to you from ICICI, the organization trusted by millions of
Indians.

8. SCHEDULE CHARGES OF ICICIDIRECT.COM

7.1 Account Charges:-


ICICIDirect.com Account Opening Fee:- The account opening fees for
ICICIdirect.com account is Rs. 750 in case

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of opening one Demat account

In case of opening Multiple Demat


Accounts the account opening charges is
Rs. 750 plus stamp duty charges for each
Demat agreement as per respective State
Act.
Minimum balance requirement for Bank An average minimum balance of Rs. 5000
account is to be maintained during each quarter,
failing which fine as applicable will be
levied / debited from the customer's bank
account.
In case of an insufficient balance to debit,
ICICI Bank will have right to close the
account of the customer.
Annual Service Charge for Debit Card Rs. 99 per card

8.2 Brokerage on trades done in Cash Segment:-

Total Eligible Turnover (Volume of Brokerage Brokerage Effective Brokerage


Transaction) per quarter (% of For square for squared off order
transaction of order orders
value) Second
First Leg Leg*

Trades above Rs.5,00,00,001/- 0.25% Nil 0.125%

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(Above Rs. 5 Crore)

On incremental turnover basis

Trades between Rs.2,00,00,001/- and


5,00,00,000/-

0.30% Nil 0.15%


(Rs. 2 Crore to 5 Crores)

on incremental turnover basis

Trades between Rs.1,00,00,001/- to


Rs. 2,00,00,000/- (Rs. 1 Crore to Rs
0.35% Nil 0.175%
2 Crore) per quarter. On incremental
turnover basis.

Rs. 50,00,001/- to Rs.1,00,00,000/-


(Rs. 50 lacs to Rs. 1 Crore) per 0.45% Nil 0.225%
quarter

Rs. 25,00,001/- to Rs.50,00,000/-


( Rs. 25 lacs to Rs. 50 lacs) per 0.55% Nil 0.275%
quarter

Rs. 10,00,001/- to Rs.25,00,000/-


( Rs. 10 lacs to less than Rs. 25 lacs) 0.70% Nil 0.35%
per quarter

Less than Rs. 10,00,000/- (Rs. 10


0.75% Nil 0.375%
lacs) per quarter

 Within the same settlement.

 The minimum value of the order that will be accepted is Rs. 500

 The minimum brokerage is Rs. 25 or 2.5% of the trade value whichever is lower.
Service tax and Security Transaction(STT) will be charged additional as per the
applicable rate.

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8.3 Brokerage on trades done in Margin,MarginPLUS and Derivatives:-

Total Eligible Turnover (Value of Transaction) per Brokerage


month

More than Rs. 20 crore 0.03%

More than Rs. 10 crore and upto Rs. 20 crore 0.035%

More than Rs. 5 crore and upto Rs. 10 crore 0.04%

More than Rs. 2 crore and up to Rs. 5 crore 0.05%

More than Rs. 0.5 crore and up to Rs. 2 crore 0.075%

Up to Rs. 0.5 crore 0.10%

 The minimum value of the order that will be accepted is Rs. 500

 The minimum brokerage is Rs. 15 or 1.5% of the trade value whichever is lower.
Service tax and Security Transaction(STT) will be charged additional as per the
applicable rate.

8.4 Brokerage on trades done in Cash on Spot Segment:-

 The minimum value of the trade that would be accepted would be Rs. 500

 The maximum amount of trade that a customer can execute in any settlement under
spot segment is Rs. 1000000.

 Service tax and Security Transaction(STT) will be charged additional as per the
applicable rate.

8.5 Demat Account Fee schedule :-


Fee Head Equity Account Non Equity
Account

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1 A/c opening Charges NIL NIL


2 Annual Services Charges Rs. 500 Rs. 249
3 Agreement Stamp Paper As per respective As per respective
State Act State Act
4 Transaction Charges
Buy: Market and Off- 0.02% (Min. Rs. 20) 0.02% (Min. Rs. 20)
Market
Nil for Trades done Nil for Trades done
on on

www.icicidirect.com www.icicidirect.com
Sell: Market and Off- 0.04% (Min. Rs. 20) Nil for Trades done
Market on
Nil for Trades done
on www.icicidirect.com

www.icicidirect.com
Rejections/fails Rs.20/- Rs. 20\-
Extra charges for Rs.10/- per ISIN Rs.10/- per ISIN
processing of Instruction (NIL for e- (NIL for e-
submined on the execution instructions). instructions).
date (accepted at Client’s
risk)

5 Dematerialisation
For ICICI Bank shares Nil Nil
For each request form Rs. 35 Rs. 35
Extra for each certificate Rs. 2 Rs. 2
6 Rematerialisation Rs. 20 Rs. 20

(for each request form)


7 Closure of Account Nil Nil
8 Pledge 0.02 (Min. Rs. 20) 0.02 (Min. Rs. 20)
Creation/Closure/Invocation
(% of value for each ISIN in
each request)
9 Additional Account Rs. 20 Rs. 20
Statement

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8.6Current NSDL charges:-

Sell: Market and Off- Rs. 8 per debit instruction (nil for commercial paper and short-
Market term debt instruments)

Rematerialisation Rs.10/- per request

Pledge Creation Rs. 25 per instruction

9. RESEARCH METHODOLOGY

9.1 Study Objective:-

Study objective of this report was to find out strengths and weaknesses of the ICICI
Web Tread Ltd. against other competitors. It also includes opportunities in future for the
growth and better prospect of the company taking in to threats from the competitors, new
comers and substitutes. It also covers comparison of ICICI direct.com with other
competitors like HDFC Securities, Kotak Street, and And Sharekhan.

9.2 Scope of the study:-


For this report the scope of the study of Strengths, Weaknesses, Opportunities &
Threats and comparison is based on information collected from local market of Rajkot city,
other offices of competitors and web sites of different companies.

9.3 Methods of Data collection:-

For the research of comparison of ICICI direct.com with other competitors and for
the SWOT analysis of ICICI Web Tread Ltd. sampling design was informal interviews and

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sample size was limited number of branch offices of the competitor companies in Rajkot
city. Secondary data was collected from related websites.

9.4 Comparison

Particulars ICICI Direct HDFC Sec.


A/c. Opening 750 500
Brokerage:-
Cash Segment ( Delivery ) 0.75% 0.50%
Margin Segment ( Same Day ) 0.10% 0.15%
Demat Charges:-
Annual Service Charges 500 500

0.02%, Mini Rs. 20


Nil for Trades done on Nil
Buy: Market and Off-Market www.icicidirect.com
0.04%, Mini Rs. 20
Nil for Trades done on
Sell: Market and Off-Market www.icicidirect.com 0.04%,Mini. Rs. 23
Rs. 35 per request, Rs. 2 per
certificate Rs. 35 per request, Rs. 3 per
Dematerialization certificate
Rematerialization Rs. 20 per request form Rs. 10 per cetificate, Mini. Rs. 10
Pledge 0.02% of transaction value, 0.02% of transaction value, Min.
Creation/Closure/Invocation Min. Rs. 20 per transaction Rs. 25 per transaction
Addiditional Account Statement Rs. 20 Rs. 25
Mini. Bal. Requirement in
Savings A/c. ICICI-5000 HDFC-5000
Limit Exposure:-
Cash Segment ( Delivery) 1 time 4 times
Margin Segment ( Same Day ) 3 to 25 times 4 times
Saving Bank A/c. With ICICI Bank HDFC Bank

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Demat A/c. With ICICI Bank HDFC Bank

Particulars Kotak Street ShareKhan


A/c. Opening 400 750

Brokerage:-
Cash Segment ( Delivery ) 0.59% 0.50%
Margin Segment ( Same Day ) 0.10% 0.10%

Demat Charges:-
Annual Service Chages 400 500
Buy: Market and Off-Market 0.04%,Mini. Rs. 20 NIL
Sell: Market and Off-Market 0.04%,Mini. Rs. 20 Rs. 0.04 per transaction
Rs. 25 per request, Rs. 3 per Rs. 25 per request, Rs. 1 per
Dematerialization certificate certificate
Rematerialization Rs. 10 per certificate 0.02% of the value, Mini Rs. 15
Pledge 0.02% of transaction value, Min. 0.02% of transaction value, Min.
Creation/Closure/Invocation Rs. 50 per transaction Rs. 25 per transaction
Addiditional Account
Statement Rs. 25 Rs. 25
Mini. Bal. Requirement in HDFC-2500+5000 Deposite for 7
Savings A/c. days UTI-2500
UTI-1000+5000 Deposite for 7
days HDFC-5000
KOTAK-2500+5000 Deposite for
7 days

Limit Exposure:-
Cash Segment ( Delivery) 4 times 3 times
Margin Segment ( Same Day ) 4 times 6 times

Saving Bank A/c. With HDFC,UTI,KOTAK HDFC,UTI,IDBI


Demat A/c. With Kotak Securities ShareKhan Securities

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9.5 SWOT Analysis

SWOT analysis is done by all the companies to be aware about the


competitor and new changes in the market. The SWOT analysis leads the company to take
strategic decisions. Company always highlight its strength, try to hide own weakness and in
the same way try to find out strength and weakness of the competitors.

S – Strength

Strength of the ICICI Web Trade is the main feature of the service. As it gives 3 in 1
account to the customer, the ease to trade at your convenient time is the main strength of
the ICICI Direct. Following are some of the strong points of the company.

 Convenience of time to trade

 Faster transaction

 Paperless work

 3 in 1 account facility so all work done at one place

W- Weakness

Weakness of company is fond out to remove it and then make the


product or service better than current status. Each and every product and service has
weakness. It is just like two side of the coin, if you have strength then you have weakness.

The weakness of the ICICI Direct.com can be said its high charges compared to other
companies.

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O – Opportunity

Opportunity of the company is with the growth of volume of share trading and if
company decides to reduces the prices to some extent then a new market segment will
come up as a customer of the service.

T – Threat

T h r e a t for the company can be considered as following.

 Growing competition

 Change in government rules which is negative for stock market

 Low prices of local brokers

 Low awareness of computer in public

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10. HOW ICICIDIRECT.COM IS BETTER THAN


OTHERS

You can do on-line share trading through any sites. There are various sites available
for trading. But ICICIDirect.com has some unique features. The ICICIDirect.com is a
leading site available not only for trading but also for other investment opportunity.

Why you should do your trading through ICICIDirect.Com? The reasons for using
ICICIDirect.com for trading are as explained as under.

1) ICICI is having 3-in-1 unique package, means you are having all the accounts
(saving bank a/c., Demat account and online share-trading account) with ICICI only.
Most of other online share trading provider uses savings bank account of other
company. On the other hand ICICI has its own. You can very easily transfer your
savings bank account money to trading account. While in case of other on-line share
trading provider give you their account number in which you have to first deposit
your money and then you can do your trading.

2) ICICI is having the whole package and that is why you do not require to retaining
your shares with DP’s pool account or any type of beneficiary account. Your all
share are in your Demat account only.

3) Some online share providers are demanding deposit. You have to maintain that
deposit till your account is continue. On the other hand you have to just maintain a
simple 5000 Rs. Balance in your savings bank account on which you will get

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interest. Moreover you will get cheque book, ATM or Debit Card with the savings
bank account.

4) The main recurring charges in case of trading are custody charges. Most of other DP
are charging more than 1.25% per month, per ISIN. On the other hand ICICI is
charging only 0.75% per month, per ISIN. Means, you will definitely save your
charges as the custody charges are lesser than other providers.

5) ICICIDirect.com provides facilities such as breaking news, technical analysis, ceo


call, week in focus, trading in stocks, mutual funds of 14 companies, IPO, GOI
Bonds, Future & Option and many more. Moreover it provides you news from
returns and money control. You can watch various prices of every script and its
quotes and charts for various periods.

6) ICICIDirect.com Research is having unique research about various companies. You


can get databases, news, earning estimates, and bird’s eye view of various
companies. You can also find your best suited investment according to your needs.
Moreover you can find anything about IPO, GOI Bonds as well as Mutual Funds
and its latest news. It also facilitates various tools like tax calculations, savings,
retirement and investment planning and financial management. Moreover your all
queries can be solve through customer service very quickly.

7) With the help of Margin PLUS order you can trade up to 25 times of your funds
availability, means only 4% margin is required. No other site is providing such type
of facility except ICICIDirect.com.

8) The BTST facility provides securities bought on a particular day (i.e. day T) can be
sold by the Client within the period commencing on T+1 day and ending on T + 2
day.

9) If you want the payment of your stocks same day, you can use SPOT option. With
the help of this option you will get your money on the same day. No other online
share trading provider gives you this facility.

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10)The mobile alerts give you the transaction detail on your mobile phone. So you do
not require to open site every time just for checking the trade. 50 alerts are free and
then after you have to pay only 1 Rs. per alert.

11)You can also do your trades trough your phone by using Call N Trade which allows
you to call on a local number in your city & trade on the telephone through
Customer Service Executives.

12)Most of the clients are facing problem after opening an account. ICICIDirect.com
provides a complete demo facility for trading in equities, future and option. With
the help of demo you will not have any further difficulties for trading.

13)It also provides stock zone, information about volumes of various scripts, analysis of
various industry with scripts, snapshot, market watch, spot reviews, NAV lists,
portfolio tracker, risk analyzer, asset allocater, stock screener, and stock to watch,
end of the day report, market at desktop, market barometer and returns of various
stocks.

14)ICICIDirect.com is also providing ICICI Value Watch, ICICI Sector Watch as well
as monthly bulletin. With the help of that you can take better decisions for your
investment in stocks.

15)Most of the other online share trading provider are not giving the facility for trading
on BSE.

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11. CONCLUSION AND FINDINGS

1) During the time of selling an account, only those are more interested whose broker
is providing them trading at 1% or more than 1% charges.

2) Customers having their account with other DP are saying to open their account after
time period of their account is over.

3) Some customers are saying that 0.75% on cash trading and 0.10% on margin trading
are somewhat high.

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4) Some customers are reluctant to shift from one DP to another because of having
large portfolio, and on that portfolio they have to pay off-line transfer charges.

5) Some customers are ready to open an online share trading account but not ready for
marinating enough balance in savings bank account.

6) In some of the suburban and less developed areas there is lack of capable sales
executive for offering services.

7) Customer will loose interest benefit on jointed exiting saving account with I-direct
account

8) Lake of speedily updating of terminal

12. RECOMMENDATIONS

1) Brokerage should be reduce to the possible extent, so that new customers can be
attracted.

2) They should offer demonstration for on line share trading and other seminars for
cultivation of knowledge to the customers.

3) Advertisement should be given in newspapers, so that the persons who do not know
about online facility of share trading can be attracted.

4) After opening of account, customer should provide a guidebook, so that they can
easily learn and transact with ICICI Direct.Com.

5) Some discount/offer can be given to those who are opening accounts in groups.

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6) The customers who want to open a savings bank account as well as Demat account
can be call for open an online share trading.

7) Offer can be give to the existing Demat account holder.

8) Company should give Tip through Phone to customer on regular basis

9) Company should try to reduce size of Account Opening Form


10) Company should develop live Terminal

11) Company should give consecution in deposit money to those customers who are
opening saving account with I-direct account.

13. BIBLIOGRAPHY

Content Source

1) WWW.ICICIDirect.Com For Analysis of Site

2) WWW.ICICIBank.Com For History and B.O.D. of Company

3) WWW.NSEIndia.Com For Collect Basic Information

4) WWW.BSEIndia.Com For Collect Basic Information

5) WWW.HDFCBank.com For collect necessary information

6) WWW.Kotaksecurities.com For collect necessary information

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7) ICICI Direct.Com Booklet For Understanding of Topic

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