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Summer Training Project Report on ANGEL BROKING LTD.

SUBMITTED B !ai"#na$ !ai"#a%i B. MBA Sem&III ' ear ())*&())+,

Gui-e- ./ Pro0. 1ite"# 2. S#u3%a

Smt. R. D. Gar-i Department o0 Bu"ine"" Management Saura"#tra Uni$ercit/ Raj3ot

DECLARATION

I, Ms Vaishnav Vaishali B.a student of M.B.A-SEM.III at Smt.R.D.Gardi Department of Business Mana ement, here!" de#lare that the pro$e#t %or& presented in this report is m" o%n #ontri!ution and has !een #arried out under the supervision of Mr. 'itesh (. Shu&la of Smt.R.D.Gardi Department of Business Mana ement, Ra$&ot.

Date) *la#e) Ra$&ot

Si nature VAIS'+AV VAIS'A,I B.

PREFACE
*ra#ti#al Stud" pla"s a vital role in the field of edu#ation. It has !een introdu#e for the students to et pra#ti#al &no%led e alon %ith the theoreti#al &no%led e, onl" an"thin !oo&ish &no%led e is not ri ht %a" of learnin an"thin espe#iall" for the mana ement students. 'o% mana ement prin#iples are implemented in !usiness #an onl" &no%n throu h pra#ti#al stud" throu h visit, students #an !err" %ell !e#ome a%are a!out industrial environment li&e pro!lem, opportunities, different situations et#. .his helps the students for !etter understandin and also ives them a #han#e to sho% their s&ills and a!ilit".

As a part of SEM.-III S"lla!us of MBA. I %as visited Angel Broking Ltd. /ompan" for pra#ti#al trainin topi#. I felt that this unit is !ein and also studied on the %or&in of its different servi#es and prepare report on parti#ular run super!l" !" e0#ellent mana ement team, Resear#h team and emplo"ees #o-operation.

ACKNOWLEDGEMENT
It is a reat pleasure for me to et olden opportunit" to have

summer trainin in finan#ial se#tor li&e Angel Broking Ltd. In #ompletin re#eivin this pro$e#t man" people are involved dire#tl" and uide us and help in preparin pro$e#t and in all I am ver" than&-full to me in m" pro$e#t.I %ould uidan#e in

indire#tl". .he"

pra#ti#al &no%led e. Amon and uidin

!ran#h mana er and also I than&ful to all staff mem!ers of Angel Broking Ltd. 2or helpin also li&e to than& Mr. 'itesh Shu&la for his valua!le the #ompletion of this pro$e#t. 2inall" I than& to all m" uides and m" friends %ho helps me in

m" pro$e#t dire#tl" or indire#tl".

Date) *la#e)Ra$&ot

Vaishnav Vaishali B. MBA-1rd sem

INDEX

Stock market Indian security BSE NSE St!c" #ar"et $!siti!n Financia% instru#ent C&an'in' treands C!#$etit!r detai% C&ar'es !( C!#$etit!r

7 9 11 14 17 19 21 23 24

STOCK MARKET

The New York Stock E change The Bom!a" Stock E change A sto#& mar&et is a mar&et for the tradin of #ompan" sto#&, and derivatives of same6 !oth those se#urities listed on a sto#& e0#han e as %ell as those onl" traded privatel".

De(initi!n
Althou h #ommon, the term 8the sto#& mar&et9 is a some%hat a!stra#t #on#ept for the me#hanism that ena!les the tradin of #ompan" sto#&s. It is also used to des#ri!e the totalit" of all sto#&s and sometimes other se#urities, %ith the e0#eption of !onds, #ommodities, and derivatives. .he term is used espe#iall" to appl" %ithin one #ountr" as, for e0ample, in the phrase :the sto#& mar&et %as up toda";, or in the term :sto#& mar&et !u!!le;. .he Se#urities /ontra#t <Re ulation= A#t, 1>45 ?S/RA@ defines 8Sto#& re ulatin dealin E0#han e9 as an" !od" of individuals, %hether or in#orporated or not, #onstituted for the purpose of assistin , or #ontrollin the !usiness of !u"in , sellin in se#urities. Sto#& e0#han e #ould !e a re ional sto#&

e0#han e %hose area of operationA$urisdi#tion is spe#ified at the time of its re#o nition or national e0#han es, %hi#h are permitted to have nation%ide tradin sin#e in#eption. +SE %as in#orporated as a national sto#& e0#han e.

#N$#AN SE%&'#T#ES (A')ET*

Sec+ritie,

market

ha,

e,,entiall"

three

categorie,

o-

.artici.ant,/ namel" the i,,+er o- ,ec+ritie,/ in0e,tor, in ,ec+ritie, and the intermediarie, and two categorie, o.rod+ct,/ namel" the ,er0ice, o- the intermediarie,/ the ,ec+ritie, incl+ding deri0ati0e,. The ,ec+ritie, market ha, two interde.endent and in,e.ara!le ,egment,/ the new i,,+e, 1.rimar" market2 and the ,tock 1,econdar" market2. The .rimar" market .ro0ide, the channel -or ,ale o- new ,ec+ritie, while the ,econdar" market deal, in ,ec+ritie, .re0io+,l" i,,+ed.

%a.ital market

/apital mar&et reforms in India have outstripped the pro#ess of li!eraliCation in most other se#tors of the e#onom". 'o%ever, the #reation of an independent #apital mar&et re ulator %as the initiation of this reform pro#ess. After the formation of the Se#urities Mar&et re ulator, the Sec+ritie, and E change Board o- #ndia <SEBI=, attention %ere dra%n to%ards the ineffi#ien#ies of the !ourses and the need %as felt for !etter re ulation, dis#ipline and a##ounta!ilit".

>

Pri#ary #ar"et
*rimar" mar&et refers to the lon surplus se#tor to the primar" issue= and to !an&s term flo% of funds from the and non !an& finan#ial

overnment and #orporate se#tor <throu h

intermediaries <throu h se#ondar" issues=.*rimar" issues of the #orporate se#tor lead to #apital formation <#reation of net fi0 asset and in#remental #han e in inventories= thus primar" mar&et is a ain su! divided into) *u!li# issue Ri ht issue *rivate pla#ement *rofessional allotment

Sec!ndary #ar"et
Se#ondar" mar&et is a mar&et for outstandin eDuit" instrument, !ein se#urities. An

an eternal fund, provides an all-time

mar&et %hile a de!t instrument %ith a defined maturit" period, is traded at the se#ondar" mar&et till maturit". Enli&e primar" issues in the primar" mar&et %hi#h result in #apital formation, the se#ondar" mar&et fa#ilities onl" liDuidit" and mar&eta!ilit" of outstandin de!t and eDuit" instruments. .he se#ondar" ro%th !" #hannel listin funds
1F

mar&et #ontri!utes to e#onomi#

into

the

most to

effi#ient

#hannel .he

throu h

the

pro#ess mar&et

of also

disinvestment

reinvestment.

se#ondar"

provides instant valuation of se#urities made possi!le !" #han es in the internal environment, that is, throu h #ompan"%ide and industr" %ide fa#tors. Su#h a valuation fa#ilities the measurement of the #ost of #apital and rate of return of e#onomi# entities at the mi#ro level. 2or tradin in issue of #orporate and finan#ial intermediaries, there are) Re#o niCed sto#& e0#han es, +ational sto#& e0#han e of India limited <+SE=

B3(BAY ST3%) E4%5AN6E 1B.S.E.2* The Stock E change/ (+m!ai/ .o.+larl" known a, 7BSE7 %as esta!lished in 1B74 as G.he +ative Share and Sto#& Bro&ers Asso#iationG. It is the oldest one in Asia, even older than the Tok"o Stock E change/ %hi#h %as esta!lished in 1B7B. It is a voluntar" non-profit ma&in Asso#iation of *ersons <AH*= and is #urrentl" en a ed in the pro#ess of #onvertin itself into demutualiCed and #orporate entit". It has evolved over the "ears into its present status as the premier Sto#& E0#han e in the
11

#ountr". It is the first Sto#& E0#han e in the /ountr" to have o!tained permanent re#o nition in 1>45 from the Govt. of India under the Sec+ritie, %ontract, 1'eg+lation2 Act/ 1989 .he E0#han e, %hile providin mar&et for tradin interests of the investors and an effi#ient and transparent ensures redressal of their

in se#urities, de!t and derivatives upholds the

rievan#es %hether a ainst the #ompanies or its o%n mem!er!ro&ers. It also strives to edu#ate and enli hten the investors !" #ondu#tin investor edu#ation pro ramme and ma&in availa!le to them ne#essar" informative inputs. A Governin Board havin Board

-F dire#tors is the ape0 !od", %hi#h de#ides the poli#ies and re ulates the affairs of the E0#han e. .he Governin #onsists of > ele#ted dire#tors, %ho are from the !ro&in #ommunit" <one third of them retire ever "ear !" rotation=, three SEB# nominees, si0 pu!li# representatives and an E0e#utive Dire#tor I /hief E0e#utive Hffi#er and a /hief Hperatin Hffi#er. .he E0e#utive Dire#tor as the /hief E0e#utive Hffi#er is responsi!le for the da"-to-da" administration of the E0#han e and he is assisted !" the /hief Hperatin Hffi#er and other 'eads of Departments. .he E0#han e has inserted ne% Rule +o.1-5 A in its Rules, B"ela%s I Re ulations pertainin /ommittee of the /ommittee, #onsistin to #onstitution of the E0e#utive A##ordin l", an E0e#utive E0#han e.

of three ele#ted dire#tors, three SEBI

nominees or pu!li# representatives, E0e#utive Dire#tor I /EH


1-

and /hief Hperatin Hffi#er has !een #onstituted. .he /ommittee #ontrol $udi#ial I Duasi matters in %hi#h the Governin has po%ers as of an Appellate Authorit", admission, matters annulment transa#tions, #ontinuan#e Board and to re ardin

suspension of mem!er-!ro&ers, de#laration of a mem!er-!ro&er as defaulter, norms, pro#edures and other matters relatin the mem!er-!ro&ers to the E0#han e, et#. ar!itration, fees, deposits, mar ins and other monies pa"a!le !"

11

NATIONAL STOCK EXC)ANGE *NSE+,+SE %as in#orporated in 1>>- and %as %ith tradin on it the Jholesale the iven re#o nition as a Mar&et Se ment. in

sto#& e0#han e in A.ril 1993 . It started operations in (une 1>>3, De!t Su!seDuentl" laun#hed /apital Mar&et Se ment

+ovem!er 1>>3 as a tradin platform for eDuities and the 2utures and Hptions Se ment in (une -FFF for various derivative instruments. NSE wa, ,et +. with the o!:ecti0e, o-* A. Esta!lishin se#urities6 B. Ensurin eDual a##ess to investors all over the #ountr" a nation%ide tradin fa#ilit" for all t"pes of

throu h an appropriate #ommuni#ation net%or&6 /. *rovidin a fair, effi#ient and transparent se#urities mar&et

usin ele#troni# tradin s"stem D. Ena!lin shorter settlement #"#les and !oo& entr"

settlements6 and E. Meetin international !en#hmar&s and standards.

13

+SE has !een a!le to ta&e the sto#& mar&et to the doorsteps of the investors. .he te#hnolo " has !een harnessed to deliver the servi#es to the investors a#ross the #ountr" at the #heapest possi!le #ost. It provides a nation-%ide, s#reen-!ased, automated tradin s"stem, %ith a hi h de ree of transparen#" and eDual eo raphi#al lo#ation. .he a##ess to investors irrespe#tive of

hi h level of information dissemination throu h on-line s"stem has helped in inte ratin retail investors on a nation-%ide !asis. .he standards set !" the e0#han e in terms of mar&et pra#ti#es, *rodu#ts, te#hnolo " and servi#e standards have !e#ome industr" !en#hmar&s and are !ein repli#ated !" other mar&et parti#ipants. Jithin a ver" short span of time, +SE has !een a!le to a#hieve all the o!$e#tives for %hi#h it %as set up. It has !een pla"in a leadin role as a #han e a ent in transformin the Indian /apital Mar&ets to its present form. .he Indian /apital Mar&ets are a far #r" from %hat the" used to !e a de#ade a o in terms of mar&et pra#ti#es, infrastru#ture, te#hnolo ", ris& mana ement, #learin and settlement and investor servi#e. Bene(its !( Listin' !n NSE .he !enefits of listin on +SE are as enumerated !elo%) +SE provides a tradin len th and !readth of platform that e0tends a#ross the the #ountr". Investors from fa#ilities on

appro0imatel" 134 #enters #an avail of tradin

14

the +SE tradin

net%or&. ,istin

on +SE thus, ena!les

issuers to rea#h and servi#e investors a#ross the #ountr". +SE !ein the lar est sto#& e0#han e in terms of tradin to

volumes, the se#urities trade at lo% impa#t #ost and are hi hl" liDuidit". .his in turn redu#es the #ost of tradin the investor. .he tradin s"stem of +SE provides unparallel level of s"stem and the total

trade and post-trade information. .he !est 4 !u" and sell orders are displa"ed on the tradin num!er of se#urities availa!le for !u"in and sellin is also displa"ed. .his helps the investor to &no% the depth of the mar&et. 2urther, #orporate announ#ements, results, #orporate a#tions et# are also availa!le on the tradin s"stem, thus redu#in misuse. .he fa#ilit" of ma&in initial pu!li# offers <I*Hs=, usin s#ope for pri#e manipulation or

+SEKs net%or& and soft%are, results in si nifi#ant redu#tion in #ost and time of issues. +SEKs %e!-site %%%.nseindia.#om provides a lin& to the %e!-sites of the #ompanies that are listed on +SE, so that visitors interested in an" #ompan" #an visit that #ompan"Ks %e!-site from the +SE site.

15

,isted #ompanies are provided %ith monthl" trade statisti#s for the se#urities of the #ompan" listed on the E0#han e. .he listin fee is nominal.

St!c" Mar"et P!siti!n


In sto#& mar&et, a position ma" !e) A commitment to !+" or ,ell a gi0en amo+nt o- ,ec+ritie, or commoditie,; The amo+nt o- ,ec+ritie, or commoditie, held !" a .er,on/ -irm/ or in,tit+tion; The owner,hi. ,tat+, oa .er,on<, or in,tit+tion<,

in0e,tment,. There are two !a,ic t".e, o- .o,ition* a long and a ,hort. Long* #n -inance/ a long .o,ition in a ,ec+rit"/ ,+ch a, a ,tock or a !ond/ !ond or e=+i0alentl" to !e long a security. #eans t&e &!%der !( t&e $!siti!n !/ns t&e security

17

#n contra,t to going s&!rt *(inance+ / to go long mean, that an in0e,tor intend, to hold a ,ec+rit" -or a relati0el" long .eriod in ho.e, that the .rice o- the ,ec+rit" will go +. o0er the long term. Similarl"/ a long .o,ition in a (utures c!ntract / or to !e long a -+t+re, contract/ mean, the holder o- the .o,ition ha, the o!ligation to !+" the +nderl"ing at a later date. There-ore/ a long .o,ition make, a .ro-it when the 0al+e o- the +nderl"ing goe, +.. Short* #n -inance/ a ,hort .o,ition in a ,ec+rit"/ ,+ch a, a st!c" or a B!nd / or e=+i0alentl" to !e ,hort a ,ec+rit"/ mean, the holder o- the .o,ition ha, ,old a ,ec+rit" that he doe, not own/ with the intention to !+" it !ack at a later time at a lower .rice. Similarl"/ a ,hort .o,ition in a (utures c!ntract / or to !e ,hort a -+t+re, contract/ mean, the holder o- the .o,ition ha, the o!ligation to ,ell the +nderl"ing a,,et at a later date. There-ore/ a ,hort .o,ition make, a .ro-it when the 0al+e othe +nderl"ing a,,et goe, down.

1B

>#NAN%#AL #NST'&(ENT #N T5E (A')ET* .he #han es in the re ulator" frame%or& of the #apital mar&et I fis#al poli#ies have also resulted in ne%er &inds of finan#ial instruments !ein introdu#ed in the mar&et. .hese instruments are depended on period, interest rate, tradin et# E=+it" Share, It represents the *roportionate o%nership of the #ompan". .he eDuit" share holders have last ri ht in re#eivin profit. ?re-erence Share Its holders et preferen#e in re#eipt of profit. *referen#e share holder en$o"s a preferential ri ht of repa"ment in #ash of %indin up of a #ompan". $e!ent+re, De!entures are issued !" #ompanies I re ulated under the SEBI uidelines of (une 11, 1>>-. .he de!enture holders are !" the #ompanies a#t. Bond, Basi#all" Bonds are issue for de!t #apital for predetermined period. It is one of the #heaper instruments. Generall" D2I li&e IDBI, I/I/I and I2/I have !een raisin operations. #apital for their overned

1>

6o0ernment ,ec+ritie, .here are mainl" t%o t"pes of overnin state overnment se#urities i.e. dated overnment and se#urities and treasur" !ills. .here are mainl" t%o authoriCes the Government Se#urit" viC. /entral overnment. .he pu!li# de!t offi#e of the RBI performs all

fun#tions %ith re ard to the issue mana ement, settlement of trade, distri!ution of interest and redemption.

-F

%hanging Trend*@ 'emem!er the time when "o+ le-t order, with "o+r !roker in the morning and recei0ed a con-irmation -a e0eningA Yo+ wondered whether "o+ had ac=+ired the ,hare, at the !e,t .o,,i!le .rice -or the da". Toda"/ the .ict+re i, di--erent. #magine a ,cenario where "o+ log on to "o+r acco+nt/ get the li0e =+ote, o- ,cri.t, "o+ are intere,ted in/ get ad0i,e -rom e .ert, and re,earch re.ort, on "o+r in0e,tment choice and then :+,t click the mo+,e to .lace "o+r order/ .a" the amo+nt d+e 1which a+tomaticall" get, de!ited into "o+r acco+nt with the on line !rokerage -irm2/ get "o+r acco+nt ,tatement/ and the deli0er" o- "o+r ,hare, into "o+r $emat acco+nt. All thi, thro+gh :+,t one click o- a mo+,e. Seem, like a dreamA B+t with online trading thi, ha, !ecome a realit". A -ew ,econd, later/ "o+ get the con-irmation on "o+r ,creen. And a-ter the trade ,ettlement/ "o+r !ank and $? acco+nt, will re-lect the change, accordingl". The ,.eed o- tran,action/ con-identialit" a!o+t the .rice, and ea,e o- ,ettlement in the .a.erle,, mode ,ho+ld !e good rea,on, -or retail in0e,tor, to :+m. on to the Net. All the" need i, a ?%/ a modem/ a ,+!,cri.tion to an #S?/ an acco+nt with a !ank 1which ha, a we! .re,ence2 and a de.o,itor" late in the

-1

acco+nt. And the" can choo,e -rom a .lethora o- eBtrading we! ,ite,.

So/ -inall" the changing trend i, known a, EBtrading which reall" mean, B+"ing and ,elling ,ec+ritie, 0ia the #nternet or other electronic mean, ,+ch a, wirele,, acce,,/ to+chBtone tele.hone,/ and other new technologie, with online trading. #n mo,t ca,e, c+,tomer, acce,, a !rokerage -irmC, De! Site thro+gh their reg+lar #nternet Ser0ice ?ro0ider. 3nce there/ c+,tomer, ma" con,+lt in-ormation .ro0ided on the De! Site and log into their acco+nt, to .lace order, and monitor acco+nt acti0it"7

--

C!#$etit!r Detai%
(AE3' ?LAYE'S 3> T5E #N$&ST'Y* An el Bro&in ,td.<An eltrade./om= I/I/I Je! .rade ,td <I/I/I Dire#t./om= India Infoline Se#urities *vt. ,td <4paisa./om= Lota& Se#urities ,td <Lota&street./om= India!ulls <India!ulls./om= Motilal Hs%al Se#urities ,td. <Most= 'df# Se#urities ,td <'df#se#= Eti Se#urities ,td. <Etisel= Id!i /apital Mar&et Servi#es ,td. Ref#o-Sif" Se#urities India *vt. ,td
-1

C&ar'es !( t&e C!#$etit!r


AFc 3.ening >ee ?arameter, .radin AA# Angel Broking Ltd. Sharekhan #%#%# $irect #ndia!+ll, 74F 74F 74F Demat Brokerage SDuare Hff #nter-ace Ban&s Asso#iated %ith

Deliver"

35F

F.3F 'D2/, E.I,

+I, +I, -4F

F.4F F.74 F.3F

F.1F F.1B F.1F

HB/, IDBI I /iti!an& I/I/I Ban& +.A. /iti!an&, 'D2/, HB/, E.I I I/I/I Ban& Lota& Ban& I /iti!an& 'D2/ I Hther 3 Ban&s

8 .ai,a

BFF

+I,

F.-F

F.F4

)otak Street 5$>% Sec+ritie,

4FF 7FF

+.A. +I,

F.4> F.4F

F.F5 F.14

-3

-4

INDEX
5i,tor" o- angel Stren't& !( an'e% Missi!n and 0isi!n state#ent G!a% and !12ecti0e C!re c!#$etence Pr!dect detai% Ser0ices !( an'e% 27 29 31 33 34 3G 4H

-5

)ist!ry !( An'e% Br!"in'


.he An el Group has emer ed as one o- the to. 8 retail ,tock !roking ho+,e, in #ndia , havin and M/M. An el Bro&in parti#ipant %ith /DS,. .he roup is promoted !" (r. $ine,h Thakkar , %ho started this enterprise as a small su!-!ro&er in 19G7 %ith staff stren th of 1 personnel. As on date, the #omprisin roup is mana ed !" a team of 18H professionals I 7HH support staff and a nation %ide net%or& 4H !ran#hes, over 2HHHI su! !ro&ers and !usiness asso#iates and 9HHH terminals %hi#h #ater to the reDuirements of more than 1 lac, retail #lients. mem!erships on BSE, +SE and the t%o leadin #ommodit" e0#han es in the #ountr" i.e. +/DEM ,td is also re istered as a depositor"

-7

( ANA6E(ENT *
*rofessional and hi hl" e0perien#ed people headed !" Mr. Dinesh .ha&&ar mana e the roup. 'e has 1- "ears e0perien#e in the field of sto#& !ro&in . 'e is %ell supported !" Mr. Mu&esh. R. Gandhi, a 17 "ears veteran in sto#& mar&ets I Mr. ,alit .ha&&ar %ith B "ears e0perien#e in the field of eDuities resear#h. .he dire#tors are %ell supported !" a professional resear#h team and dependa!le operations team. 6 '3&? A %T#J#T#ES An el stron roup has ver" %ell set resear#h division mana ed !" professional team. .he" provide fundamental as %ell as /line -FFF, /apita /lips, reports, /MIE reports

te#hni#al anal"sis to their #lients. .he" have su!s#ri!ed to various soft%are pa#&a es in#ludin .rends, DAR., VI.A,, I+2A/

fundamental pa#&a e form internet se#urities et#. an el roup has 154 BH,. terminals spread all over the #ountr" amon st its !ran#hes and su! !ro&ers. .he" have !ran#h offi#es at 2ort, Vile *arle, Malad, Borivali, Mulund, .hane, Dom!ivali, Gore aon, Andheri, Lal!adevi, /hem!ur and Surut <Gu$arat=. An el has e0panded their mi ht in to institutional !ro&in provide the hi hest !an&s, level mutual of servi#es and to institutions, investors. funds se ment also to Indian finan#ial institutional

forei n

-B

Stren't& !( An'e% Br!"in'


An el9s !i est stren th is that %e understand the needs of a su!

N !ro&er and retail investors ver" %ell. Stri#t adheren#e to our !usiness philosoph" of providin the !est value for mone" to our #ustomer, has ena!led us and our asso#iation to providin %orld #lass !ro&in ro% rapidl" in an in#reasin l" #ompetitive mar&et. .he promoter9s vision of servi#es to the Indian investors and a #ustomer #entri# %or& #ulture has led to several innovation in the areas of te#hnolo ", pro#esses and people. .his spirit of innovation helps "ou to ro% "our !usiness volumes. An el have al%a"s endeavored to provide timel" resear#h !ased advi#e to our #lients from the nim!le footed da" traders to the lon term value investors. It9s 14 mem!er eDuit" resear#h team #omprises of e0perien#ed fundamental and te#hni#al anal"sts, se#tor spe#ialist and derivative strin iest, %ho are #onstantl" loo&in for ne% tradin A investment opportunities. .his team is and Reuters to &eep a!reast %ith the armed %ith the latest anal"ti#al tools and uses international ne%s servi#es li&e Bloom!er latest national and lo!al trends. An el /ommodities Bro&in <*= ,td. *romoted !" An el Group,

started its operations in (ul" -FF3. It has mem!ership in India9s t%o premier #ommodities e0#han es i.e. +ational /ommodities I Derivative E0#han e and Multi /ommodities E0#han e. At present the #ommodities !ro&in servi#es are availa!le at all e0istin !ran#hes and sele#t fran#hisees.

->

An el

/ommodities

Resear#h to the

team

#omprises

of

senior

professional %ith relevant e0perien#e in #ommodities !usiness and a sound understandin lo!al s#enario. Hur resear#h produ#t are desi ned to suit the needs of all #ate ories of investors. .he #ommodities resear#h des& provide a dail" te#hni#al report, %ee&l" report, monthl" revie% and reports on spe#ifi# #ommodities. .his team is armed %ith the latest anal"ti#al tools and uses international ne%s servi#es to &eep a!reast %ith the latest national and lo!al trades.

1F

Missi!n 3 4isi!n State#ent

(#SS#3N STATE(ENT .he main mission statement of an el !ro&in ltd is to !e on top

in and around 'a:kot and Saurastra peninsula %ith the help of retail, !ul& and ?AS !usiness %ithin three "ears. 2or 2O F4-F5 fo#us %ill !e on Bul& !usiness from e0istin #onne#tivit" and *ost tradin Ba#&-up soft%are in su!post

!ro&ers of #ompetitors !" ivin those #ompetitive pri#in , !etter #entraliCed and dire#t !illin era.

J#S#3N STATE(ENT To ?ro0ide Be,t Jal+e >or (one" To #n0e,tor, Thro+gh #nno0ati0e ?rod+ct,/ Trading F #n0e,tment, Strategie,/ StatB3-BTheBArt Technolog"/ ?er,onaliKed Ser0ice,.

11

Business P&i%!s!$&y
Ethical ?ractice, L Tran,.arenc" #n All 3+r $ealing %+,tomer #ntere,t A!o0e 3+r 3wn Alwa", $eli0er Dhat De ?romi,e E--ecti0e %o,t (anagement .his firm is %or&in %ith philosoph" that ethi#al values and

transparen#" should !e follo%ed and #ustomers interest should !e iven preferen#e and deliver it %hat an el had promise to provide %ith e((ecti0e c!st #ana'e#ent

O5R CRM POLIC6


A %+,tomer #, A (o,t #m.ortant Ji,itor, 3n 3+r ?romi,e, 5e #, Not $e.endant 3n &, B+t De Are $e.endent 3n 5im 5e #, Not #nterr+.tion #n 3+r Dork B+t #, The ?+r.o,e 3- #t De Are Not $oing 5im A >a0o+r B" Ser0ing 5e #, $oing &, A >a0o+r B" 6i0ing &, An 3..ort+nit" To $o So.

1-

G!a% 3 O12ecti0es
>i0eB"ear goal, State spe#ifi# measura!le o!$e#tives State mar&et share o!$e#tives State revenueAprofita!ilit" o!$e#tives >inancial ?lan 'i h-level finan#ial plan that defines finan#ial model, pri#in assumptions, and revie%s "earl" e0pe#ted sales and profits for the ne0t three "ears. Ese several slides to #over this material appropriatel" 'e,o+rce 'e=+irement, .e#hnolo " reDuirements *ersonnel reDuirements Resour#e reDuirements N 2inan#ial, distri!ution, promotion, et# N E0ternal reDuirements N *rodu#tsAservi#esAte#hnolo " outside #ompan" reDuired to !e pur#hased

11

C!re C!#$etence
.op Dualit" resear#h I portfolio advisor" servi#es for eDuities Retail fo#used resear#h produ#ts Ro!ust internet tradin fa#ilit" /ommodities resear#h I !ro&in servi#es Depositor" servi#es throu h #dsl Je! !ased -3 0 7 !a#& offi#e soft%are Good understandin needs *rofessional %or& #ulture %ith a personal tou#h /ost- effe#tive pro#esses State-of-the-art te#hnolo " Streamin Duotes I real time #harts for !se Anse ?#ash A derivatives@ Sin le #onne#tivit" and speed" e0e#ution of trades. *rivate v-sat net%or& for remote areas. Hnline te#hni#al support I help des&. f%p N offered onl" !" an el of the su!-!ro&er and retail #ustomer

13

Branc& Net/!r"
Andheri <%est= Borivali<%est= 2ort Gore aon<%est= Malad<%est, east= Santa#ruC<%est= Ahemda!ad Baroda '"dera!ad *une Bandra<%est= /hem!ur Ghat&oper<east= Lal!adevi Mulund<%est= Vilen parle<%est= An&lesh%ar Delhi Indore Ra$&ot

Researc& Tea#
Se$al Doshi Sara!$it Lour +an ra 'uCaifa surat%ala A!hi$eet Lundu (aspreet Sin h +alin Bhatt Sandeep Ja le Mu&esh Sin h Ban&in AfI, po%er I utilit" eDuipments *harma, oil I as, *etro#hemi#als Auto I Auto An#illar", tele#om, shippin 2M/G I Mid N#aps Metals I #ement En . I #apital Goods, #onstru#tion .e#hni#al anal"st .e#hni#al anal"st

14

Manas (ais%al Darpin Shah Dha%al Doshi A&shat v"as Rohit Ahu$a

Derivative anal"st Resear#h anal"st Resear#h anal"st Resear#h assistant Resear#h assistant

5ni7ueness O( An'e%
1FFP retail fo#us BSE A +SE #ash, 2IH I #ommodities on a sin le s#reen fle0i!le mar insA e0posure limits *ersonaliCed servi#es throu h #entraliCed help des& and -4 !ran#hes. #ost effe#tive te#hnolo "

Mar"et Su##ary
Ma$or pla"ers are An el, SSLI, MHS., Larvi, Ana ram, India Bull, Lota& in retail se ment.

15

Mar%adi se ment.

and

A$a"

+at%arlal

in

su!-!ro&er

net%or&in

Mar&et) Retail QSSLI and MHS. are #onsidered su##essful amon rest mainl" !e#ause of ood resear#h, a ressive pri#in , Mar in 2undin and spa#ious and %ell am!ient offi#e.

17

Pr!duct Detai%
An el Bro&in ltd. *rovide its !est servi#es !" its *rodu#ts %hi#h represent the %hole ima e of An el in the mind of #ustomer and those produ#ts are)

AN6EL ?'3$&%TS

A+GE, DIE.

A+GE, .RADE

A+GE, A+OJ'ERE

Spe#iall" desi ned for the net savv" traders and investors %ho refer operatin from their home or offi#e throu h the internet. .he" #an a##ess state of the art te#hnolo " %ith our 1 different E-Bro&in produ#ts and voila tradin on BSE, +SE, 2IH, M/M and M/DEM is $ust #li#& a%a" R

1B

Angel $iet
Appli#ation Based ideal for traders. Eser 2riendl" I Simple navi ation. Ro!ust I speedier e0e#ution of trade. 4 Se ment BSE, +SE, 2 I H, M/M, and +/DEM

Angel Trade
!ro%ser !ased for investors. +o installation reDuired. Advanta es of mo!ilit". .radin as simple as internet surfin 4 Se ment BSE, +SE, 2 I H, M/M, and +/DEM.

Angel An"ware
Appli#ation Based ideal for traders usin te#hni#al tools. Intra-Da" A 'istori#al #harts %ith various indi#ators 1 Se ment BSE, +SE, /ash I Derivative.

1>

Ser0ices !( An'e% Br!"in'


E-&roking

E-&roking

$alue %dded &ack office Services 'ultiple e(changes on single screen )ntra-day calls & flash ne*s Historical charts *ith technical tools We ena led centrali!ed ack-office Centrali!ed help desk services E-contract notes cum ills Commodities State-of-the-art internet trading platform Trading & educational seminar Efficient risk management "esearch Daily services Technical services #undamental services

Demat Services Hassle free automated pay-in Wide ranch coverage Centrali!ed illing & accounting )nvestment %dvisory Services %ngel offers personali!ed advisory services to H+) investors and actively assists them in managing their portfolio,,,

3F

EBBroking Ser0ice,

Hn-line tradin

fa#ilities on BSEA+SE < /ash and 2IH=, soft%ares

+/DEM, and M/M thou h our 1 uniDue etradin espe#iall" desi ned for traders as %ell as investors. .radin

in se#urities A #ommodities usin the internet platform is

a #onvenient option. Je provide "ou an opportunit" to trade on BSE A +SE </ash and 2IH=, +/DEM and M/M from the #omfort of "our home or offi#e. Hur internet tradin platform ives "ou state-of-the-art tradin

fa#ilit", order and trade #onfirmation, e-#ontra#ts and -3M7 online %e! ena!led !a#&-offi#e s"stem at the #li#& of a !utton.

31

Sa%ient (eatures !( an'e% trade,


(+lti.le e change, on a ,ingle ,creen* Oou #an trade online on BSE, +SE-/ash and 2IH, M/M and +/DEM on a sin le s#reen. S.eed* Je use the latest te#hnolo " to enerate effi#ient uptime and reater sta!ilit" to ive "ou hi h speed. %om.etiti0e !rokerage rate,* Je !elieve in providin our #lients the !est value added servi#es at the most #ompetitive !ro&era e rates. 3.tim+m margin,* An el level 3nline -+nd, tran,-er* .he #lients en$o" the #onvenien#e of online transfer of funds from their !an& a##ounts, to the mar in a##ount of An el, online. ?er,onaliKed ,er0ice* '+I #lients #an avail of personaliCed advisor" servi#es from our trained and e0perien#ed dealers, re ardin opportunities. tradin ives "ou the tradin e0posure at optimum mar in

3-

3-- line ,er0ice,* Oou are free to ma&e a telephone #all to an" of our 3F %ell eDuipped !ran#hes a#ross the #ountr". Technolog"* An el provides the latest infrastru#ture tools to support and inte rate the !a#&end and front offi#e fun#tionalities. Back o--ice in-ra,tr+ct+re* Je provide an automated %e! ena!led #entraliCed !a#&offi#e %here!" the #lients #an have a##ess to their trade #onfirmation reports, holdin -3 M 7 !asis. Technical ,+..ort* Je remove te#hni#al diffi#ulties throu h an online support s"stem manned !" Dualified professionals. E B %ontract note, c+m !ill,* Je provide #ontra#t notes #um !ills in ele#troni# form resultin in ease of a##ess to trades #arried out !" the #lients on an" parti#ular da". statement, their net position, the mar ins and the statement of a##ounts and led ers on a

De!BEna!led %entraliKed BackB3--ice


31

De! Ena!led %entraliKed BackB3--ice* All the #lients re istered %ith An el Group have a -3S7 a##ess to our %e! ena!led #entraliCed soft%are. .he #lients #an vie% their trade #onfirmation reports spe#ifi# to BSE I +SE #orrespondin l" for a spe#ifi# da", vie% their led er e0tra#ts and statements and anal"Ce holdin statement alon %ith deliver" report status, net position, mar in and #ash I non N #ash #ollateral related to the +SE 2IH se ment and evaluate profit and loss statement lin&ed to the #ash statement. %entraliKed 5el. $e,k Ser0ice, .he an el #md. .his team is availa!le from >)FFa.m. to 7)FFp.m. and it is empo%ered to resolve all "our Dueries and #omplaints on an online !asis.

roup has #ommissioned a #entraliCed help des&

team at its #orporate offi#e under dire#t supervision of the

.he team is availa!le either via the telephone 1H222 2G38 8HHH or the e-mail -eed!ackMangel!roking.com .

33

EBcontract Note, c+m Bill, An el provide #ontra#t notes #um !ills in ele#troni# form. .he soft%are fa#ilitates do%nloadin notes and !ills. An el have ta&en adeDuate #are and pre#aution a!out the data se#urit", so that all our #lients are assured that the data is onl" a##essed !" them and not shared %ith an"one else. of relevant #ontra#t

34

$e.o,itor" >acilit"
Depository -articipant

.ou are invited to shift your *orries related to the holding of securities *ith us/

$e.o,itor" ?artici.ant Oou must !e a%are that An el Bro&in depositor" servi#es !i !" re isterin %ith various !enefits of holdin ,td has started its /DS,. .here are

"our demat a##ount %ith us !ut the

est advanta e is that "ou shall !e ensured of a ris& free,

prompt and effi#ient depositor" pro#ess. Dhat di--erentiate, angel $? -rom other $?,A * 1. Sin#e our asso#iation is slated for a lon "our holdin and transfer of se#urities. -. +o ph"si#al instru#tions are reDuired for "our sell ,td A time, %e are in a

mu#h !etter position to &no% "our reDuirement re ardin

o!li ations. Je also offer to our #lients the automated pa" in fa#ilit" for trade done throu h An el Bro&in An el /apital and Dept Mar&et ,td.

35

1. .he transa#tion #har es that are !ein servi#es at the most afforda!le #osts. 3. Oou have an option of #hoosin /DS,)

levied !" us are the Dualit"

lo%est in the industr" as %e !elieve in providin

the produ#ts offered !"

A. Ea," -acilit"* Oou #an vie%, do%nload and print the

updated holdin
B. Ea,ie,t

of "our demat a##ount alon

%ith

valuation of holdin . -acilit"* Oou #an, !" usin this fa#ilit", su!mit "our o%n deliver" instru#tions on the internet %ithout fa#ilit". 4. Je %ould li&e "ou to &no% that the state of art te#hnolo " !ein arran ed for "ou is the !est in the industr" and all this is done so that "ou have #onvenien#e of a##essin information from an" desired lo#ation. the intervention of "our D*. .his is in addition to all the fa#ilities provided under the 8Eas"9

37

Yo+ will en:o" the -ollowing di,tincti0e !ene-it, !" regi,tering with Angel * +o ris& of loss, %ron #ertifi#ates.

transfer, mutilation or theft of share

'assle free automated pa"-in of "our sell o!li ations !" "our #learin mem!ers, AB, A A/D, <+o need for ph"si#al instru#tion at all=.

Redu#ed paper %or&. Speedier settlement pro#ess. Be#ause of faster transfer and re istration of se#urities in "our a##ount, in#reased liDuidit" of "our se#urities.

Instant dis!ursement of non-#ash !enefits li&e !onus and ri hts into "our a##ount. Effi#ient pled e me#hanism. Jide !ran#h #overa e. *ersonaliCed A attentive servi#es of trained help des&. A##eptan#e I e0e#ution of instru#tion on 82a09. 8Tero9 upfront pa"ment. Dail" statement of transa#tion I holdin mail . statements on e-

+o #har es for e0tra transa#tion statement I holdin statement. All in one #om!ined Monthl" 8Bill-#um-.ransa#tion-#um'oldin -#um-led er9 statement.

3B

%ommoditie,
Commodities

A t A n e l , % e p r o v i d e " o u a p l at f o r m t o parti#ipate and trade in /ommodit" 2utures %ith !oth the leadin / o m m o d i t " E 0 #h a n e s a n d o f f e r " o u i m m e n s e !enefits.

A!o+t Angel %ommoditie,* A+GE, /HMMHDI.IES BRHLI+G <*= ,IMI.ED promoted !" A+GE, GRHE*, started its operations in Indian #ommodities mar&et !" a#Duirin mem!erships in IndiaKs premier multi#ommodit" e0#han es of +/DEM <Mem!ership +o)FF--F= and M/M <Mem!ership +o) 1-5B4=. A+GE, /HMMHDI.IES offers tradin opportunities in

#ommodit" mar&ets throu h the #hain of its !ran#hes spread a#ross the #ountr". A+GE, /HMMHDI.IES provides e0pert resear#h A anal"sis to its #lients in various #ommodities, listed in +/DEM and M/M in#ludin the international perspe#tive of the #ommodities traded. It provides !est te#hni#al anal"sis from des& of its trained and Dualified anal"sts.

3>

.he resear#h team of an el #ommodities #onsists of professionals %ho are industr" veterans. .he team is #apa!le of formulatin tradin strate ies dependin on ris&-return profile of the #lient. .oda" %e offer a of finan#ial needs. Dh" trade with Angel %ommoditie,A Hnline appli#ation !ased tradin soft%are Hnline %e! !ased tradin platform Hnline dail", %ee&l" and monthl" resear#h .ransparent and fair trade e0e#ution Individual #lient attention -3S7 online !a#& offi#e .rainin Aedu#ation fa#ilities A #ondu#t of seminars State-of-the-art te#hnolo " Di ital #ontra#t notes #um !ill) Vie% "our a##ounts from an" %here, an" time

amut of finan#ial produ#ts to satisf" an arra"

Effi#ient ris& mana ement /ompetitive !ro&era e rates

4F

#n0e,tment
)nvestment %dvisory

0se "esearch to 'anage your *ealth )nvestment %dvisory Desk

?ri0ate %lient 6ro+. An el offers personaliCed advisor" servi#es to '+I investors and a#tivel" assists them in mana in their portfolio. */G #an see& et pro ea#h uidan#e on spe#ifi# sto#&s in their portfolio and #an advisor" pro#ess at an el starts %ith understandin

a#tive advi#e for timel" e0it and fresh investments. .he portfolio investorKs ris& A re%ard A e0pe#tations. In order to s"stemati#all" diversif" the holdin varied se#tors and %ith an intention to of #lients a#ross

ive them handsome

returns, an el devised the #on#ept of the modern portfolio) An el #ame out %ith its first modern portfolio in au ust -FF-.

Sin#e then it has #ome out %ith modern portfolios %hi#h have #onsistentl" outperformed the sense0 OHO. In fa#t, the latest portfolio !" an el has su##essfull" outperformed the sense0 !" a %hoppin BFP.

41

Salient -eat+re, o- the ?%6* .he portfolio #omprises fundamentall" stron s#rips. .he ti#&er siCe of the portfolio is Rs. 4 la#s for residents and Rs. 1F la#s for +RI9s.

.he portfolio is non N dis#retionar". .ime horiCon for the portfolio ran es for a period of 1months to 1B months.

4-

'e,earch N+alit"
Top 1uality "esearch

Value added servi#e li&e top Dualit" retail fo#used resear#h and advi#e !ased !ro&in in eDuities

.here is 1 t"pes of Resear#h done in An el Bro&in ) 1. Dail" Servi#e -. 2undamental Servi#es 1. .e#hni#al Servi#es 3. /ommodities Servi#es .he an el !ro&in ivin helpin has a spe#ial resear#h team for ma&in

Dualitative resear#h. .he resear#h is done for the purpose of Dualitative advi#e to their #lient, so that it %or& as a hand for their #lient. .he an el Bro&in has a soft%are raphi#al representation of

named An el An"%here that ma&e different &in of s#ript.

41

Dai%y Ser0ices
'arket <utlook at =:>7 %' % crisp pre-market report that arms our clients *ith sensitive information efore the opening ell, ;ey corporate developments2 policy announcements2 geo-political ne*s and vie*s are analy!ed for their impact on the market,

Technical "eport at 9:77 -' This report analyses trading patterns2 historical ackground2 market position of key stocks and offer short term 34 to 5 days6 as *ell as medium term 347 to 87 days6 vie*s, Tracking individual scrips as *ell as the Sense( and +ifty2 its insight cuts through the market ma!e,

Derivative %nalysis "eport The report provides #)) activity in derivative segments2 change in open interest2 put call ratio2 cost of carry of stock and inde( ased derivative products, <ur derivative analysts use the a ove tolls to pro?ect the movement during the ne(t trading sessions

43

Funda#enta% Ser0ices
The Sunday Weekly "eport

This *eekly report is ace of all the reports, )t offers a comprehensive market overvie* and likely trends in the *eek ahead, )t also presents top picks ased on an in-depth analysis of technical and fundamental factors, )t gives short term and long term outlook on these scrips2 their price targets and advice trading strategies, %nother uni@ue feature of this report is that it provides an updated vie* of a out A7 prominent stocks on an ongoing asis,

The )ndustrial Watch This report provides an in-depth look at specific industries *hich are likely to outperform others in the economy, )t analyses their strength and *eaknesses and ascertains their future outlook, The final vie* is arrived at after thorough interaction *ith industry e(perts,

Stock %nalysis %ngelBs stock research has performed very *ell over the past fe* years and angel model portfolio has consistently outperformed the enchmark indices, The fundamentals of select scrips are thoroughly analy!ed and actiona le advice is provided along *ith investment rationale for each scrip,

#lash +e*s ;ey developments and significant ne*s announcement that are likely to have an impact on market C scrips are flashed live on trading terminals, #lash ne*s keeps the market men updated on an online asis and helps them to reshuffle their holdings,

44

Tec&nica% Ser0ices

)ntra-day Calls #or day traders angel provides intraday calls *ith entry2 e(it and stop loss levels during the market hours and our calls are flashed on our terminals, <ur analysts continuously track the calls and provide the recommendations according to the market movements, -ast performance of these calls in terms of profitCloss is also availa le to our associates to ena le them to ?udge the success rate,

-osting Trading Calls %ngels D-osition Trading CallsE are ased on a through analysis of the price movements in selected scrips and provides calls for taking positions *ith a 47 - 45 days time span *ith stop losses and targets, These calls are also flashed on our terminals during market hours,

Derivative strategies <ur analyst take a vie* on the +)#T. and selected scrips ased on derivatives and technical tools and devise suita le DDerivative StrategiesE 2 *hich are flashed on our terminals and pu lished in our derivative reports,

45

C!##!dities Ser0ices
%gro Tech Speak 'ainly gives the investors insight into and a forecast for agro commodities vi!, pulses3urad channa etc6F reports on oil comple( 3soya ean castor etc,6 along *ith spices *ith reports on kapas guar seed ,

Call Evaluation % report designed for evaluating the calls given y the angel research team *here the reports are classified in > road categories vi!, achieved 2 triumph2 not achieved along *ith the trade recommendations,

Commodities Tech Speak

This report mainly e@uips the investors dealing in 'CG segment in commodities like gold2 silver2 crude oil2 copper etc *ith the market insight and e(pert recommendation on the trading strategies,

47

Pri0acy P!%icy

-rivacy -olicy

%ngel &roking Htd,2 %ngel Commodities &roking -vt, Htd,2 %ngel Capital & De t 'arket Htd, 3hereinafter referred to as I%ngelI6 has its o*n uni@ue privacy policy features, in e@uities

..

An el

Bro&in

,td.,

An el

Se#urities

,td.

and

An el

/ommodities Bro&in

*vt. ,td., An el /apital I De!t Mar&et to learn more

,td. <hereinafter referred to as KAn elK= has its o%n uniDue priva#" poli#" features. *lease read the follo%in a!out our priva#" poli#". ?ri0ac" ?olic" %o0er,... .his *riva#" *oli#" #overs An elKs !ehavior to%ards the personal information %hi#h is stored %hile "ou are e0plorin usin the servi#es on the site. our site and

6athering and &tiliKation o- #n-ormation...


4B

An el

#olle#ts

personall"

identifia!le

information

%hile

re isterin for An el a##ount, Hnline .radin , Derivatives. #n-ormation Sharing and $i,clo,+re... 1. An el %ill preserve "our personal information %ithout sellin or rentin it to an"one. -. Hnl" those people or #ompanies %ill have a##ess to the information %ho are authoriCed to do so. 1. An el %ill need to share "our information %ith "our #onsent onl". %ookie,... An el ma" set and a##ess /oo&ies on "our #omputer. Edit Oour A##ount Information and *referen#es... An el provides the fa#ilit" to edit "our A##ount Information and preferen#es at an" time. Sec+rit"... Oour An el A##ount Information is pass%ord-prote#ted for "our priva#" and se#urit".

Amendment, in the ?ri0ac" ?olic"...

4>

An el ma" #han e this poli#" from time to time. Oou %ill !e notified !" postin information. a prominent announ#ement on our pa es in #ase of su!stantial amendments in the %a" %e use "our personal

S+gge,tion, or N+erie,... .here is also servi#e %hi#h is provide from An el that is if an" #lient have Dueries and su Dueries and su feed!a#&Uan el!ro&in .#om . estion than invited to for%ard their estions to the email

5F

Fraud Pre0enti!n
#raud -revention

%ngel &roking is dedicated to ensure that your trading accounts remain secure and your personal information remains private, Here are some tips that *ill help you feel comforta le *hen you trade *ith us,

?rotect Yo+r 3nline Brokerage Acco+nt* .he Internet and, more re#entl", %ireless te#hnolo " have made it eas" for investors to #he#& !ro&era e a##ount information and initiate investment transa#tions on the o. An el is issuin this Alert to %arn investors to ta&e pre#autions to help ensure the se#urit" of their !ro&era e a##ounts. +ot doin a##ount information and investments At ris& so puts "our

51

4IEW OF DIFFERENT DEPARTMENT


T'A$#N6 $E?A'T(ENT ?'EBT'A$#N6 A%%3&NT 3?EN#N6 >3'( $E?3S#TS %3(?L#ENTS T'A$#N6 $EAL#N6 '33( ?3ST OT'A$#N6 B#LLS ?AY#N AN$ ?AY3&T ?'3%ESS %3NT'A%TS $? $E?A'T(ENT B'#E> 5#ST3'Y 3> $E?3S#T3'Y '3LE 3> $? A%%3&NT 3?EN#N6 $E(ATE'#AL#PAT#3N SE%&'#TY 78 77 GH G8 98 98 97 9G 99 99 7H 7H 71 72 78 94

5-

BIRD8S E6E 4IEW OF DIFFERENT DEPARTMENTS


Same as all the firms9 an el !ro&in ltd has different department. It had mainl" three departments %hi#h are as follo%s) .radin department D* department

TRADING DEPARTMENT
#NT'3$&%T#3N An el is one of the !ro&er %ho is a#tin as %holesalers and as a funds house

!ro&er it is the dut" of it to provide servi#e of #olle#tin and se#urities from the investors and send it to #learin acco+nt. A##ordin

respe#tivel" for this an a##ount is to !e opened ie trading to SEBI investor has to open tradin a##ount, he #an open an a##ount in an" depositor" !ut investor should not !e partnership firm or proprietorship firm. .radin department is a ain divided into three parts *re-tradin .radin *ost-tradin
51

112 ?'EBT'A$#N6
An" person %ho %ants to open an tradin pre-tradin a#tivit" is done %hi#h in#lude) A##ount openin Deposits /ompliments a##ounts first of all

Acco+nt o.ening >orm

53

Acco+nt o.ening .roced+re


I. 2irst #lient %ill as& for openin tradin a##ount II. .he An el %ill ive proof details and #lient %ill have to fill up form and su!mit to An el %ith do#uments reDuired III. /olle#tion of form from the #lient IV. /he#&in of the form V. S#annin of the form VI. .hen this form %ill !e dispat#h to '.H VII. An el !ran#h %ill have /olle#tion of #ode !" email or manuall" VIII. +o% inform #lient or su! !ro&er throu h phone or email a!out internet Id IM. +o% #lient %ill !e a!le to trade

%lo,ing .roced+re
I. 2irst #lient %ill ive %ritten reDuest for #losin an a##ount II. .hen this reDuest is for%arded to '.H III. At last '.H %ill inform !ran#h that a##ount has !een #losed %hole pro#edure a!out #losin %ill !e done at '.H IV. An el %ill inform #lient a!out #losin of a##ount

54

$e.o,it, 'etail client


/ash mar&et Intra-da" Deliver" Minimum Rs 4FFF Rs 1FFFF Rs 4FFF <rare #ase=

S+! !roker
2or one se ment 2or all five se ments 1FFFFF #ash or share <fle0i!le= 14FFFF if #lient %ants Vast 14FFFF %hi#h in#lude installation ,transportation #har es et#

%om.liment,

55

?artBA $ematB1.hoto .roo-2


*an #ard Drivin li#ense Ele#tion #ard Ban& attestation

?artBB 1'e,idence .roo-2


Ban& pass!oo& Ration #ard Ele#tri# Bill .elephone Bill ,I/ poli#" Blan& /an#elled #heDue %ithout si nature

Trading Acco+nt .roo2ollo%in are the proof reDuired for openin tradin a##ount. /lient master #op" <D* proof= *an #ard for photo proofAform-5F An" one from *art-A An" one from *art-B

57

122 T'A$#N6

After pre-tradin ne0t #omes tradin %hi#h in#lude) Dealin room Sauda pun#hin /onformation

$ealing room
Dealin room is the rooms %here dealin of different se#urities

are done %hi#h in#lude) +SE /ash BSE /ash +SE Derivatives
5B

132 ?3ST T'A$#N6


pa" out pro#ess /ontra#ts Bills *a" in /ontra#ts

#ntrod+ction
After #ompletion of tradin the further pro#ess is done throu h

this department. Mainl" it handles t%o pro#esses %hi#h are &no%n as pa" in and pa" out pro#ess. 2urther des#ription is iven !elo%.

?a"o+t ?roce,,
Jhen transa#tion is done !et%een the t%o mem!ers of same D* then it is #alled internal pa"out pro#ess, !ut it #an !e &no%n onl" after 3 o9#lo#& %hen tradin ets over. It #an !e &no%n that %hether the transa#tion is done internall" or not. Hther%ise all the transa#tions are done thorou h e0#han e onl". +o% if the situation arises in %hi#h one of the mem!er of D* has sold a definite Duantit" of shares, !ut a ainst %hi#h no one has pur#hased the same amount of Duantit" of shares !elon in to same #ompan" then the %hole lot %ill o to the e0#han e. Hn the other hand if one of the parties has !ou ht #omparativel" less Duantit" than sold !" another part" then it is #alled ,hort-all o,hare,.

5>

+o% let us understand the a!ove #on#ept %ith the help of a pra#ti#al e0ample. Suppose, one of the mem!ers of An el in RA(LH. has sold BFF shares of Relian#e ,.D., !ut a ainst %hi#h mem!er of An el at Mum!ai !ran#h has pur#hased onl" 1FF shares of the same #ompan" then it is #alled S53'T>ALL . +o%, after the #losin of tradin a#tivit" <i.e. after 3 o9#lo#&=. E0#han e %ill prepare a shortfall report I this %ill !e dire#tl" sent to '.H. +o%, department %ill prepare a summar" from the report. After that if D* has a##ess then dealin %ill !e done internall" other%ise au#tion %ill !e done !" e0#han e in %hi#h e0#han e %ill pur#hase or sell shortfall of shares from the mar&et. *a"out pro#ess mainl" indi#ates a##ess amount to !e paid !" D* i.e. %hen pur#hase of share is #omparativel" hi her then sellin .

Bill,
In the same %a" An el '.H %ill prepare !ill of #lients name and this %ill !e sanded to respe#tive !ran#hes to different pla#es and no% !ran#hes %ould !e dispat#hin to their respe#tive #lients.

7F

?a" #n ?roce,,
+o% if %e loo& from the other side the same #on#ept, then it is #alled ?AY #N ?'3%ESS . In this pro#ess if sellin %ill is done #omparativel" hi her then pur#hase, then D* %ill earn i.e. D* et relativel" more amount a ainst %hi#h it has to pa" less I pa"out the amount. In !oth the transa#tion i.e. in pa"in pa"ment %ill !e done thorou h #he#&s onl".

%ontract note
/ontra#t note is a #onfirmation of trades done on a parti#ular da" for and on !ehalf of a #lient. An el shall issue a #ontra#t note to his #lient for trades <pur#haseAsale of se#urities= e0e#uted %ith all relevant details as reDuired therein to !e filled in <refer to SEBI #ir#ular no. SMDASEDA/IRA-11-1 dated (une B, -FF4=. A #ontra#t note shall !e issued to a #lient %ithin -3 hours of the e0e#ution of the #ontra#t dul" si ned !" the .M or his authoriCed si nator" or #lient attorne".

$e.o,itor"B An 3rganiKation

71

A depositor" is an or aniCation %here the se#urities of investors are held in ele#troni# form. Investors open an a##ount in the depositor" s"stem throu h a Depositor" *arti#ipant <DE*HSI.HRO *AR.I/I*A+.S= and hold se#urities in that a##ount. .here are t%o depositories in India %hi#h are +ational Se#urities Depositor" ,td <+SD,= and /entral Depositor" Servi#e ,td </DS,=. Depositor" s"stem is Duite similar to a !an&in s"stem. If an

investor %ants to utiliCe the servi#e offered !" a depositor", heAshe has to open an a##ount %ith the depositor" throu h a DE*HSI.HRO *AR.I/I*A+.S. .his #an !e #ompare to the openin of an a##ount %ith an" of the !ran#hes of a !an& in order to utiliCe the servi#es of the !an&. 'oldin depositories operate under #ountr"9s spe#ifi# se#urities in rules and Depositor" is no% a normal pra#ti#e a#ross the %orld. All re ulations to assure safet", liDuidit" and ri htA lia!ilit". A depositor" ma" !e defined as fa#ilities of holdin ele#troni# form that means %ithout holdin ph"si#al form and %hi#h su!seDuentl" se#urities in se#urities

an" #ertifi#ates in ena!le

transa#tion to !e pro#ess !" ele#troni# !oo& entr" s"stem, %ithout movement of papers.

7-

A Depositor" fa#ilitates holdin

of se#urities in the ele#troni#

form and ena!les se#urities transa#tions to !e pro#essed !" !oo& entr" !" a Depositor" *arti#ipant <D*=, %ho as an a ent of the depositor", offers depositor" servi#es to investors. A##ordin SEBI uidelines, finan#ial institutions, !an&s, to #ustodians,

sto#&!ro&ers, et#. are eli i!le to a#t as D*s. .he investor %ho is &no%n as Benefi#ial o%ner <BH= has to open a Demat a##ount throu h an" D* for dematerialiCation of his holdin s and transferrin se#urities. An el is havin D* of /DS, %here the !alan#es in the investors a##ount re#orded and maintained %ith /DS, #an !e o!tained throu h the D*. .he D* is reDuired to provide the investor, at re ular intervals, a statement of a##ount %hi#h ives the details of the se#urities holdin s and transa#tions. .he depositor" s"stem has effe#tivel" eliminated paper-!ased #ertifi#ates %hi#h %ere prone to !e fa&e, for ed, #ounterfeit resultin in !ad deliveries. /DS, offers an effi#ient and instantaneous transfer of se#urities.

71

DEPOSITOR6 PARTICIPATE DEPARTMENT


#NT'3$&%T#3N Althou h India had a vi!rant #apital mar&et %hi#h is more than a #entur" old. .he paper !ased settlement or trades #aused su!stantial pro!lems li&e !ad deliver" and dela"ed transfer of title till re#entl". .he ena#tment of depositories a#t in au ust 1>>5 paved the %a" for esta!lishment of +A.IH+A, SE/ERI.IES DE*HSI.HRO ,IMI.ED, .he first depositor" in India. .his depositor" promoted !" institution of national stature responsi!le for e#onomi# development of the #ountr" has sin#e esta!lished a national infrastru#ture of international standards that handle most of the tradin form in India #apital mar&et. +A.IH+A, servi#es in SE/ERI.IES +ovem!er DE*HSI.HRO 1>>5. ,IMI.ED %as and settlement in dematerialiCed

promoted !" E.I, IDBI and +SE. It started providin After%ards, DE*HSI.HRO SERVI/E ,IMI.ED fla

depositor" /E+.RA,

ed of its operation in !an&s su#h as SBI,

(ul" 1>>>. .he /E+.RA, DE*HSI.HRO SERVI/E ,IMI.ED %as promoted !" BSE $ointl" %ith leadin /enturion Ban&. BHI, BHB, 'D2/, Standard /hartered, Enion Ban& of India I

73

.radin

in dematerialiCation share #ommen#ed on +SE in for retail investor started for sele#ted in#luded the depositor"

De#em!er 1>>5 on BSE in De#em!er 1>>7. In (anuar" 1>>B #ompulsor" Demat tradin s#ripts. .hus s#ripts in #ompulsor" demat tradin .his step led to phenomenon ro%th of the

on#e %ith hi hest mar&et #apitaliasation and most traded s#ripts. environment in Indian #apital mar&et. Entil /E+.RA, DE*HSI.HRO SERVI/E ,IMI.ED #ommen#ed its operations it %as a one man sho% handled !" DE*HSI.HRO *AR.I/I*A+.S of +A.IH+A, SE/ERI.IES DE*HSI.HRO ,IMI.ED. +A.IH+A, SE/ERI.IES DE*HSI.HRO ,IMI.ED had there fore #over a lar e #hun& of mar&et !efore /E+.RA, DE*HSI.HRO SERVI/E ,IMI.ED #ame into pi#ture and it has remained the lar est depositor" till date. Investors %ere openin the a##ount in +A.IH+A, SE/ERI.IES there shares in the period for the depositor"

DE*HSI.HRO ,IMI.ED and dematerialiCin first phase. .hat %as a !oomin

industr". .hus, in the initial "ears of the industr" there %as onl" one depositor" and the #ompetition %as !et%een DE*HSI.HRO *AR.I/I*A+.S onl". .he servi#e %as ne%l" laun#h and SEBI %as in#reasin the s#ope and #ompulsion !" %a" of introdu#in more and more s#rip in the least of #ompulsor" demats tradin .

74

'3LE 3> $?
A Depositor" is an or aniCation firm to provide ele#troni# depositor" fa#ilities for se#urities traded. Se#urities are then held in the ele#troni# form throu h the medium of D*. .he +SD, is the first depositor" in India. .he fun#tions of +SD, are re ulated !" the Se#urities and E0#han e Board of India <SEBI=. .he Depositor" is not $ust another #ustodian. .he

Depositor" #an le all" transfer !enefi#ial o%nership, %hi#h a #ustodian #an not. .he #hief o!$e#tive of a depositor" is to redu#e settlement ris& !" minimiCin the paper%or& involved in tradin , settlin and transferrin se#urities. .o utiliCe the servi#es offered !" a depositor", "ou must open an a##ount %ith the depositor" throu h a D*. .he D*s are the lin& !et%een the shareholders and the #ompan" and +SD,. Dependin #ustod". on the D*, there ma" or ma" not !e an openin

a##ount fee. .he D*s lev" fees to%ards transa#tion and

75

Ban&s, finan#ial institutions, #ustodians and sto#& !ro&ers #an !e#ome D*s su!$e#t to their meetin #ertain reDuirements pres#ri!e !" +SD, and SEBI. +SD, pu!lishes the list of D*s re istered %ith them from time to time. .he D* %ill provide "ou %ith a pass!oo& or statement of a##ount periodi#all" to inform "ou on "our holdin s. Oou #an even have a Cero !alan#e in "our a##ount.

77

BENEFITS OF OPENING AN ACCO5NT WIT) CDSL S6STEM


.he uniDue #entraliCed data!ase of /DS, ena!les D*s in De!itA/redit se#urities instantaneousl" to the Benefi#ial H%ner9s a##ount, there!" avoidin an" transit position. /DS,9s uniDue #lient ID num!er ensures de!itA#redit of se#urities onl" to the intended a##ount as the s"stem does not a##ept a transa#tion, %here a##ount num!er is &e"ed in in#orre#tl". /DS, offers fa#ilities to the /learin 'ouse. /learin

/orporation under %hi#h se#urities soldApur#hased !" an" BH on BS2 #an !e dire#tl" delivered fromA re#eived in the BH a##ount, %ithout routin them throu h the !ro&er9s pool a##ount. /DS, does not #olle#t an" #ustod" fees from D*s, thus, BHs #an e0pe#t a lo%er #har e in respe#t of se#urities held in /DS, a##ounts. .he transa#tion #ost for settlement of se#urities throu h /DS, as lo%er in most #ases.

7B

A%%3&NT 3?EN#N6 .o avail the various servi#es offered !" /DS, an investor or a !ro&er or an approved intermediar" has to open a /DS, depositor" a##ount. Depositor" a##ounts are of three t"pes) BENE>#%#A'Y A%%3&NT An investor or a !ro&er %ho %ants to hold shares on

dematerialiCed form and underta&e s#ripts less tradin D* of his #hoi#e. %LEA'#N6 (E(BE' A%%3&NT

must have

depositor" a##ount #alled Benefi#iar" H%ner a##ount <BH= %ith a

Mem!er !ro&ers of the sto#& e0#han e %hi#h have esta!lished ele#troni# #onne#tivit" %ith /DS, need to open a #learin mem!er a##ount %ith a D* of his #hoi#e to #lear and settle trades in the demat form. .his a##ount is meant onl" to transfer shares and re#eives shares for the #learin #orporationAhouse and hen#e, the mem!er !ro&er does not have an" o%nership ri hts over the shares runnin held in su#h an a##ount.

7>

#NTE'(#$EA'Y A%%3&NT An" person desirin to a#t as an approved intermediar" a##ount

%ith an" D* offi#e #hoi#e. An intermediar" a##ount ma" !e open %ith the D* onl" after the intermediar" has o!tained re istration from the se#urities and E0#han e !oard of India. And %ith the prior approval of the /DS,. .his a##ount is meant onl" to deposit the se#urities re#eive from the lender and lend them to the !orro%er under sto#& landin held in su#h a##ount and !orro%in s#heme. .he intermediar" does not have an" o%nership ri hts over the shares

?'3%E$&'E >3' 3?EN#N6 AN A%%3&NT


An investor %ho %ants to hold se#urities in the ele#troni# form in a depositor" s"stem should open an a##ount %ith a parti#ipant %ith follo%in pro#edure .he parti#ipant %ill ma&e availa!le the relevant a##ount openin form <dependin on %hether the #lient is a retailer referen#es that ive a investor or #orporate #lient or #learin mem!er= and spe#if" the relevant list of do#uments re ardin should !e su!mitted alon #lient, in dupli#ate. %ith the form. It %ill also

#op" of the relevant a reement, to !e entered %ith the

BF

.he #lient %ill su!mit the dul" filled in a##ount openin form. It should also furnish su#h do#uments re ardin referen#es, as spe#ified ele#troni# form in !" the parti#ipant, alon %ith the a##ount openin form. .he An el %ill verif" that the a##ount openin form is dul" filled in. it %ill also verif" the en#losed do#uments, if an". In#omplete forms %ill !e for%arded to the #lient for re#tifi#ation. .he authoriCed si natories are en#losed. In #ase the do#uments are not proper, the form %ill re$e#ted and intimate the #lient of the same, statin is destro"ed. the reasons for doin so. .he #op" of the a reement su!mitted !" the #lient

B1

?'3%E$&'E >3' 3?EN#N6 AN A%%3&NT

B-

If the form is in order, the An el %ill a##ept the same and ive an a#&no%led ment slip dul" si ned and stamped, to the #lient. .he An el %ill e0e#ute the a reement and #op" of it to the #lient. After #ompletion of all do#umentation, the An el %ill send to '.H then enter the #lient details as mentioned in the a##ount openin form in the D*M s#reen provided for the #lient details in the s"stem, a #lient enerated !" the D*M. '.H %ill the #lient purpose. After enterin send to An el .he An el %ill ive a #op" of the report listin details #aptured in the D*M data!ase to the #lient. .he report %ill !e enerated !" the D*M. 2inall" An el dispat#h, Demat a##ount &it to the #lient !" #ourier. ive a

a##ount num!er %ill !e

$E(ET 'EN&#S#T#3N >3'( 1$'>2


+o% %e &no% that all the transa#tion are done throu h ele#troni# form for this investors has to #onvert all the ph"si#al #ertifi#ates into ele#troni# form for this pro#ess is to !e made for dematerialiCation of the #ertifi#ates

B1

$E(ATE'#AL#PAT#3N 3> SE%&'#TY


A##ordin to the Depositories A#t 1>>5, an investor has the

option to hold shares either in ph"si#al or ele#troni# form. +o% ever, SEBI has notified that settlement of trade in almost all listed se#urities should ta&e the Demat mode. Althou h, trades up to 4FF shares #an settled in ph"si#al form, ph"si#al settlement is virtuall" not ta&in pla#e for #ertifi#ate, et#. Before "ou start tradin of "our se#urit" usin Demat a##ount apprehension of !ad deliver" on a##ount of mismat#h of si natures, for er" of si nature, fa&e

"ou dematerialiCe the #ertifi#ate. DematerialiCe means #onvertin se#urit" in ele#troni# form from ph"si#al form. Hnl" those se#urit" #an !e DematerialiCed %hose o%ner #ompan" has re istered itself for /DS, servi#e. Shareholder #an reDuest its o%ner #ompan" to re ister itself %ith /DS, if it is not re istered onl" after that se#urit" #an !e dematerialiCed

B3

?roced+re -or dematerialiKation


If #lient is havin ph"si#al #ertifi#ate and %ants to #onvert

then reDuest is to ive to an el for dematerialiCation .hen this reDuest is send to '.H '.H %ill stamp this reDuest and send this reDuest to related RI. a ent RI. A ent %ill on re#eivin the ph"si#al do#uments and the ele#troni# reDuest verifies and #he#&s them .he D* issues a statement of transa#tion to the #lient .hen an el %ill inform to #lient

?LE$6#N6
Ma$or !enefit of the Demat a##ount and holdin %ill et loan on it. If "ou have a demat a##ount %ith R+SB !an& then "ou %ill loan either form this !an& or "ou %ill et se#urit" in

Demat form is that "ou #an put this #ertifi#ate on pled e and "ou

et it form some other

institutes. .he person %ho applied for the loan is #alled led er and one need to have Demat a##ount %ith /DS,. *led e puts on#e se#urit" under the pled e it #an not use for other purpose. .hese se#urities pled ed are moved from 82ree Balan#e9 to 8*led ed Balan#e9 a##ount.

B4

B5

INDEX
?artic+lar 1. 2. 3. 4. 8. 9. 7. 'e,earch 3!:ecti0e So+rce, o- $ata Sam.ling ?roce,, Sco.e o- St+d" 'ecommendation =+e,tionnaire Bi!liogra.h" ?age No. GG G9 9H 91 92 1H2 1H9

B7

RESERC) OB9ECTI4E
.he main o!$e#tive of the stud" is to #he#& litera#" ratio of eDuit" and their potential mar&et amon the people of Ra$&ot /it".

SE%3N$A'Y 3BEE%T#JES A'E *B


1. -. 1. 3. 4. 5. 7. .o &no% the a%areness of eDuit". .o &no% the s#ope for the eDuit". .o &no% the investment ha!it of the people of Ra$&ot /it". .o &no% the purpose of investin in eDuit". .o &no% the influen#in %hile tradin in eDuit". .o find out the !est pattern to edu#ate a!out eDuit". .o find out the medium %hi#h is the !est suita!le for tradin on eDuit". for#e !ehind the de#ision ma&in

BB

SO5RCES OF DATA
.here are t%o main sour#es of data 112 ?rimar" $ata 122 Secondar" $ata

112 ?rimar" $ata


.he data, %hi#h is #olle#ted dire#tl" from the respondent to the !ase of &no%led e and !elief of the resear#h, is #alled primar" data. .he most preferred %a" is to intervie% the individuals to et a sense of ho% the" feel

122 Secondar" $ata


Jhen the data is #olle#ted and #ompiled from the pu!lished nature or an" other9s primar" data is #alled se#ondar" data. So far as our resear#h is #on#erned, %e have not #olle#ted an" information from an" sour#es. So, %e have not used se#ondar" data for our resear#h.

B>

SAMPLING PROCESS
It is ver" true that to do the resear#h %ith the %hole universe. As %e &no% that it is feasi!le to o to population surve" !e#ause of the n num!er of #ustomers and their s#attered lo#ation. So for this purpose sample siCe has to !e determined %ell in advan#e and sele#tion of sample also must !e s#ientifi# so that it represents the %hole universe. So far as our resear#h is #on#erned, %e have ta&en sample siCe of 1FF respondents. Je have sele#ted In#ome Earners %ith savin to invest in Ra$&ot #it". All the respondents are stratified on the !asis of their .ro-e,,ion and ,a0ing,. Je have sele#ted the samples as per #onvenien#e.

>F

SCOPE OF ST5D6
.he resear#h %ould !e useful in the follo%in respe#t. .his %ill help the #ompan" to &no% the taste of masses and turn it to%ards eDuit". .his %ill help the #ompan", ho% to ma&e people a%are a!out eDuit" !" impartin !est edu#ation. .his %ill help the #ompan" to frame effe#tive Mar&etin Strate " as %ell as sele#t the ri ht media for advertisin to #reate !rand a%areness as %ell as to ive &no%led e of the produ#t.

>1

RECOMMENDATION
An el needs to ma&e its mar&etin team stron and also it should in#rease mar&etin a#tivities su#h as promotional #ampai ns. An el should edu#ate the investors a!out Derivatives I /ommodities !" or aniCin #lasses, #orporate presentations, ta&in part in #onsumer fairs, or aniCin events. /ompan" should sho% the !enefits of tradin on eDuit" An el should turn e0istin #ustomers <%ho are tradin in EDuit" onl"= to%ards Derivatives I /ommodities. An el #an also use +e%spapers and ,o#al +e% /hannels as a medium of advertisin . An el ma" also use its helpline num!er for ivin edu#ation on eDuit". /ompan" ma" appoint spe#ial team for ivin edu#ation I attra#tin people to%ards tradin on eDuit"
>-

DISCRIPTION
.he de ree of litera#" a!out sto#& mar&et amon the people of Ra$&ot /it" (1) 3- thi, in0e,tment o.tion,/ with which are "o+ -amiliar and alread" in0e,t inA Ban& 2D G-Se#s Insuran#e SharesAEDuit" (e%ellar" *ostal S#heme Mutual 2unds BondsADe!entures Real Estate
4ue"tion & 5

4 8J = 87J

8 KJ

> AJ

K =J

L 4LJ

5 44J

A 49J

9 4>J

>

>1

2rom the

raph %e #an see that investor familiar %ith !onds and

de!au#her as %ell as !an& fi0ed deposit.

>3

(2) Dhich o- the,e are "o+ alread" in toda"A EDuit" Derivatives <2IH= /ommodit"

4ue"tion & (

4 4AJ

> 57J

8 >>J

2rom the stud" underta&en

>

%e

have

#on#luded

that

limited to sample siCe more investor are more lin& %ith eDuit" %hile some are also #ommodit" and derivative.

>4

132

Dhich o- the,e "o+ wo+ld like to !e in -or tradingA EDuit" Derivatives <2IH= /ommodit"

4ue"tion & 6

4 4AJ

> 57J

8 >>J

Jhen as& to the investor %e #ommodit" and derivative.

>

have

stud"

that

more

prepare to !e lin& %ith eDuit" %hile some are also attra#tive

>5

142

what are the con,traint, that are holding "o+ !ackA Ris& ta&in a!ilit" 2und 2a#ilities ,a#& of &no%led e Re ulator" #onstraints Still in 8%ait I see9 ,a#& of Guidan#e

+on-Availa!ilit" of Hptions %ith "our !ro&er


4ue"tion & 7

4 KJ A 85J

8 AJ

> 44J

K 4KJ

9 84J 5 4LJ

>

.he #onstant %hi#h hold !a#& potential investor are ris& la#& of &no%led e, la#& of uidan#e %hile some are also la&e !ehind due to la#& of fund fa#ilit", re ularit" #onstantl" and non-availa!ilit" of options.

>7

182

#- "o+ are trading in E=+it" "o+ want to !e in/ which -actor, will "o+ gi0e im.ortanceA Ris& Redu#tion Investment .o in#rease the levera e
4ue"tion & 8

Spe#ulation Ar!itra e

4 AJ 8 4>J 5 >>J

> 87J

K 8AJ

>

2rom the stud" underta&e limited to sample siCe %e seen that investor tradin and eDuit" are ivin more importan#e to the purpose of investment alone %ith ris& redu#tion, spe#ulation, investment, ar!itra e, to in#rease the levera e.

>B

192

5ow do "o+ want to learn a!o+t E=+it" A /lassroom tea#hin ,iterature Self-E0perien#e Internet Do#umentaries Seminars
4ue"tion & *

4 5J

8 47J

9 8LJ

> 4KJ

5 8KJ

K 4=J

>

/ustomer desi nin

to trade and eDuit" ta&e de#ision from

!ro&ers and a ent advi#e, advi#e from #aAta0 #onsultant %hile some ta&e de#ision independentl" !" ne%s #hannel, some also ta&e de#ision from !usiness ma aCines, internet, %ell-&no%n sto#& !ro&in houses.

>>

(7) 5ow do "o+ take deci,ion, i- "o+ want to trade in E=+it"A Advi#e of 2riendsA#ollea ues Bro&erAA ent9s advi#e Advi#e from /AA.a0 #onsultant +e%s #hannels Independentl" V

Jell-&no%n Sto#& Bro&in 'ouses Business Ma aCines Internet +e%spapers


4ue"tion & 9

4 8J = 87J

8 KJ

> AJ

K =J

L 4LJ

5 44J

A 49J

9 4>J

>

/ustomer %ould more li&e to &no% a!out eDuit" from self e0perien#e %hi#h have do#umentaries, seminars. ot that ma0imum per#enta e %hile resear#h alone %ith #lassroom tea#hin , internet, literature,

1FF

1G2

5ow m+ch time will "o+ !e a!le to de0ote to learn a!o+t ,tock marketA 1 da" - da"s 1 da"s

- hrs per da" over 1 month /an9t sa"


4ue"tion & +

4 AJ 8 4>J 5 >>J

> 87J

K 8AJ

>

2rom resear#h underta&e %e #an see that more out of potential and not #lear at ho% mu#h time the" %ill !e a!le to devote for learnin eDuit" tradin %hile man" of them have opted from hours per da" over one month and #an not sa" and some have opted from one da", t%o da"s, three da"s.

1F1

192

According to "o+/ which medi+m i, the mo,t relia!le -or trading in E=+it"A Sto#& !ro&in #os. <Branded= 2ran#hisees
4ue"tion & :

Bro&ers Hnline

4 47J

K K7J

8 87J

> >7J

>

Stud" under ta&e %e have #on#luded that more potential and #urrent investors from the sample siCe under ta&en trust !ro&ers man" of trust them on line tradin !ro&ers and online are more relia!le. and man" feel that option

1F-

:5ESTIONNAIRE

Name*QQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQ Addre,,*QQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQ %ontact No. QQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQ 6ender ) Age ) Male -1-14 A!ove 55 Ed+cation ) 3cc+.ation ) QQQQQQQQQQQQQQQQQQQQQQQQQ *rofessional Businessmen Govt. Emplo"ee In *vt. 2irms
Hthers QQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQ

2emale 15-4F 41-54

(1) 3- thi, in0e,tment o.tion,/ with which are "o+ -amiliar and alread" in0e,t inA Ban& 2D G-Se#s Insuran#e SharesAEDuit" (e%ellar" *ostal S#heme Mutual 2unds BondsADe!entures Real Estate

1F1

(2) Dhich o- the,e are "o+ alread" in toda"A EDuit" /ommodit" Derivatives <2IH=

132

Dhich o- the,e "o+ wo+ld like to !e in -or tradingA E=+it" Derivatives <2IH= /ommodit"

142

what are the con,traint, that are holding "o+ !ackA Ris& ta&in a!ilit" 2und 2a#ilities ,a#& of &no%led e Re ulator" #onstraints Still in 8%ait I see9 ,a#& of Guidan#e

+on-Availa!ilit" of Hptions %ith "our !ro&er

182

#- "o+ are trading in E=+it" "o+ want to !e in/ which -actor, will "o+ gi0e im.ortanceA Ris& Redu#tion Investment .o in#rease the levera e Spe#ulation Ar!itra e

192

5ow do "o+ want to learn a!o+t E=+it" A /lassroom tea#hin ,iterature Internet Do#umentaries
1F3

Self-E0perien#e

Seminars

(7) 5ow do "o+ take deci,ion, i- "o+ want to trade in E=+it"A Advi#e of 2riendsA#ollea ues Bro&erAA ent9s advi#e Advi#e from /AA.a0 #onsultant +e%s #hannels Independentl" V

Jell-&no%n Sto#& Bro&in 'ouses Business Ma aCines Internet +e%spapers

1G2

5ow m+ch time will "o+ !e a!le to de0ote to learn a!o+t ,tock marketA 1 da" - da"s 1 da"s

- hrs per da" over 1 month /an9t sa"

192

According to "o+/ which medi+m i, the mo,t relia!le -or trading in E=+it"A Sto#& !ro&in #os. <Branded= Bro&ers
1F4

2ran#hisees

Hnline

1F5

BIBLIOGRAP)6

We1sites ,
1. %%%.an eltrade.#om -. %%%.an el!a#&ofi#e.#om 1. http)AAharmon".an eltrade.#omAehrms 3. %%%. o le.#om 4. %%%.!seindia.#om 5. %%%.nseindia.#om 7. %%%.investmentindia.#om
B. %%%.nse.#om

B!!"s 3 Ma'a;ines
1. Resear#h Methodolo " - Lothari -. Indian 2inan#ial S"stem N Bh$arti *atha& 1. Jee&l" Revie% of An el Bro&in ,td. 3. Resear#h Ma aCines of An el Bro&in ,td. 4. /ompan" I Se#tor Report of An el Bro&in ,td.

1F7