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CHAPTER 1
1.1INTRODUCTION
Commercial management is troubled with the floating of funds diminishing the
cost of capital and allotting the funds in long term investment which involve
Capital budgeting decision. The next important decision is deciding how much
profit to retain and how much to distribute as dividend i.e. dividend decision. The
dividend is planned and declared by the Board of Directors. Dividend policy refers
to the proportion of earning distributed as dividend and the rest kept for further
investment i.e. retained earnings. Dividend policy is a strategy used by a company
to determine the amount and timing of dividend payments. The dividend policy
framed by an organization is one of the crucial issues in corporate finance since it
may have an impact on the firms value and shareholder wealth. From the lookout
of financial management, the important objective is to determine the dividend
policy that will maximize the market price of the shares of the firm. Dividend
policy remains one of the most dubiousproblems in corporate finance. Financial
economists have promised in designing and investigate corporate dividend policy.
Dividend policy is of two types one is managed second residual. In residual
dividend policy, dividend is paid cash left after the firm makes attractive
investments using net present value basis. The manager must apply managed
dividend policy if investors are satisfied and it reflects in share price. The best
dividend policy is the one which guide to maximize of shareholder wealth and
increase the companys stock price. A dividend is the smallest return to the
investors in order to compensate for the money invested and the risk taken by
investing in the organization. An association pays dividend to reward existing
investors and to encourage potential investors to buy new issues of shares at higher
prices. A dividend policy of a corporation may range from a decision regarding
dividend action in a complex formal statement approved by the board of directors
and reviewed on a regular basis
ii.
iii.
1.5RESEACH METHODOLOGY
Data collection:
In the present project work the data has been collected from readily available
sources that is secondary data like websites, newspaper. The web sites visited
Nseindia .com
Bseindia .com
Value research .com
Data analysis:
The present project work has been analysis using time series analysis with
graphical presentation.
The formula applied in the collection as follows: Correlation coefficient.
1.6LIMITATIONS OF THE STUDY
i.
Finally we cannot predict the fluctuations because there are so many factors
influence the price movements at the same time
1.7DEFINATION OF TERMS
CHAPTER 2
The essence of the residual theory of dividend policy is that the firm will only pay
dividends from residual earnings, that is, from earnings left over after all suitable
(positive NPV) investment opportunities have been financed. Retained earnings are
the most important source for financing for most companies. A residual approach
to the dividend policy, as the first claim on retained earnings will be the financing
of the investment projects. With the residual dividend policy, the primary focus of
the firm's management is indeed on investment, not dividends. Dividend policy
becomes irrelevant, it is treated as a passive rather than an active, decision
variables. The view of management in this case is that the value of firm and the
wealth of its shareholders will be maximized by investing the earnings in the
appropriate investment projects, rather than paying them out as dividends to
shareholders. Thus managers will actively seek out, and invest the firm's earnings
in, all acceptable (in terms of risk and return) investment projects, which are
expected to increase the value of the firm. Dividends will only be paid when
retained earnings exceed the funds required to finance the suitable investment
projects. Conversely when the total investment funds required exceed retained
earnings, no dividend will be paid.
Motive for a residual policy
The motives for a residual policy, or high retentions, dividend policy commonly
include:When the effective rate of tax on dividend income is higher than the tax on
capital gains, some shareholders, because of their personal tax positions, may
prefer a high retention/low payout policy
ii.
any sense.
As a wealth maximization decision: Payment of current dividend has a
positive impact on the share price. So to maximize the price per share,
the firm must pay more and more dividends.
If the choice of the dividend policy affects the value of a firm, it is considered as
relevant. In that case a change in the dividend payout ratio will be followed by a
change in the market value of the firm. If the dividend is relevant, there must be an
optimum payout ratio. Optimum payout ratio is that ratio which gives highest
market value per share.
1. Walters Model (Relevant Theory)
Prof. James E Walter argues that the choice of dividend payout ratio almost always
affects the value of the firm. Prof. J. E. Walter has very scholarly studied the
significance of the relationship between internal rate of return (R) and cost of
capital (K) in determining optimum dividend policy which maximizes the wealth
of shareholders.
Walters model is based on the following assumptions:
i.
ii.
only.
Internal rate of return (R) and cost of capital (K) of the firm remains
iii.
constant.
The firms earnings are either distributed as dividends or reinvested
iv.
v.
internally.
The earnings and dividends of the firm will never change.
The firm has a very long or infinite life.
ii.
iii.
2. Gordons Model
Another theory, which contends that dividends are relevant, is the Gordons
model.
This model which opines that dividend policy of a firm affects its value is
based on the following assumptions:
i.
ii.
iii.
iv.
v.
vi.
Gordon used the following formula to find out price per share
P=
Gordon goes one step ahead and argues that dividend policy affects the value of
shares even when R=K.
The crux of Gordons argument is based on the following two assumptions.
i.
ii.
The investors are rational. Accordingly they want to avoid risk. The term risk
refers to the possibility of not getting the return on investment. The payment of
dividends now completely removes any chance of risk. But if the firm retains the
earnings the investors can expect to get a dividend in the future. But the future
dividend is uncertain both with respect to the amount as well as the timing. The
rational investors, therefore prefer current dividend to future dividend. Retained
earnings are considered as risky by the investors. In case earnings are retained,
therefore the price per share would be adversely affected. This behaviour of
investor is described as Bird in Hand Argument. A bird in hand is worth two in
bush. What is available today is more important than what may be available in the
future. So the rational investors are willing to pay a higher price for shares on
which more current dividends are paid. Therefore the discount rate (K) increases
with retention rate.
earnings power resulting from the investment policy and not influenced by the
manner in which its earnings are split between dividends and retained earnings.
Modigliani-Miller Model(Irrelevance theory)is based on the assumption
i.
ii.
iii.
capital gains.
The firm has a fixed investment policy which will not change. So if
the retained earnings are reinvested, there will not be any change in
iv.
shareholders.http://makemynote.weebly.com/relevance-and-
irrelevance-theories-of-dividend.html
CHAPTER 3
Ever since we were founded nearly 160 years ago we have working in the service
of enterprise. We are committed to deliver customer value, building on our strong
heritage of entrepreneurship, international outlook and long-term perspective. SEB
has for long played an active part in the development of societies in which are
operating.
2010-Today - The relationship bank
SEB continued focusing on areas of strength where the bank could take a leading
position. As a consequence, SEB decided to sell its German and Ukraine retail
banking businesses. The aim now is to be the leading Nordic bank for corporations
and institutions, and the top universal bank in Sweden and the Baltic countries.
2006-2009 Supporting throughout new crisis
As the first decade of the 21st century came to a close, the world faced a financial
crisis. SEB carried out a 15.1 billion kronor rights issue to strengthen its capital
base and support customers throughout the acute crisis, with increased lending.
2000 International expansion
In 2000 SEB completed the acquisition of BfG Bank in Germany and bought
remaining stakes in its three Baltic banks to own 100 per cent of them at year-end.
More than half the banks employees were now outside of Sweden.
to launch a complete internet bank for private clients. The bank changed its trading
name to SEB in 1998.
1972 The merger
Stockholms Enskilda Bank and Skandinaviska Banken merge to become
Skandinaviska Enskilda Banken (S-E-Banken). A key reason for the move is to
better face growing competition from major international banks. Together the two
banks are stronger and more competitive.
1930-1940 Skandinaviska Banken
Skandinaviska Kreditaktiebolaget incurred heavy losses as a result of the
international recession and the Kreuger crash. The state provided 215 million
kronor in loans to the bank and it took four years to pay the money back. In 1939
the bank changed its name to Skandinaviska Banken.
1910-1920 New head office
There is great demand for capital and Skandinaviska Kreditaktiebolaget acquires
several banks to become the largest commercial bank in Sweden. In 1915
Stockholms Enskilda Banken moves its head office to Kungstrdgrdsgatan in
Stockholm.
1864 Skandinaviska Kreditaktiebolaget founded
Danish financier Carl Fredrik Tietgen, in cooperation with Andr Oscar
Wallenberg, founded Skandinaviska Kreditaktiebolaget in 1864. The new bank was
a competitor to Stockholms Enskilda Bank.
1856 Stockholms Enskilda Bank founded
Andr Oscar Wallenberg founded Stockholms Enskilda Bank in 1856 as
Stockholm's first private bank and one of the first commercial banks in Sweden.
Our heritage
A heritage of entrepreneurship in the service of enterprise.
Our purpose
We believe that entrepreneurial minds and innovative companies are key in
creating a better world. We are here to enable them to achieve their aspirations and
succeed through good times and bad.
Our vision
To deliver world-class service to our customers.
Our core values
Customers first
We put our customers needs first, always seeking to understand how to deliver real
value.
Commitment
We are personally dedicated to the success of our customers and are accountable
for our actions.
Simplicity
We strive to simplify whats complex. We value our customers time, striving to be
accessible, straightforward and transparent.
Collaboration
We achieve more because we work together. We share, challenge and learn from
our experiences as a team.
Our role in society
Banks play an important role in society. By assisting customers with financing,
investments, secure payments and asset management, we support economic
Our stakeholders
NSE has played a catalytic role in reforming the Indian securities market in terms
of microstructure, market practices and trading volumes. The market today uses
state-of-art information technology to provide an efficient and transparent trading,
clearing and settlement mechanism, and has witnessed several innovations in
products & services viz. demutualisation of stock exchange governance, screen
based trading, compression of settlement cycles, dematerialisation and electronic
transfer of securities, securities lending and borrowing, professionalisation of
trading members, fine-tuned risk management systems, emergence of clearing
corporations to assume counterparty risks, market of debt and derivative
instruments and intensive use of information technology.
2001-2010
1991-2000
Mar-2014
Feb-2014
Jan-2014
May-2013
Jan-2013
Jan-2013
Sep-2012
Jun-2012
May-2012
Mar-2012
Mar-2012
Dec-2011
Sep-2011
Aug-2011
Jul-2011
Jan-2011
Purpose
Committed to improve the financial well-being of people
Vision
To continue to be a leader, establish global presence, facilitate the financial
wellbeingof people.
Values
NSE is committed to the following core values:
i.
Integrity
ii.
iii.
iv.
v.
Teamwork
Our Logo
The logo of the NSE symbolizes a single nationwide securities trading facility
ensuring equal and fair access to investors, trading members and issuers all over
the country. The initials of the Exchange viz., N, S and E have been etched on the
logo and are distinctly visible. The logo symbolizes use of state of the art
information technology and satellite connectivity to bring about the change within
the securities industry. The logo symbolizes vibrancy and unleashing of creative
energy to constantly bring about change through innovation.
Products
i.
ii.
Registering a complaint
iii.
NSCCL
ii.
NSETECH
iii.
IISL
iv.
DOTEX
v.
NSE.IT
vi.
NSICL
Our products
Equities
i.
Equities
ii.
Indices
iii.
Mutual Funds
iv.
v.
vi.
Derivatives
i.
Equity Derivatives
ii.
Currency Derivatives
iii.
Debt
i.
Debt Market
ii.
Corporate Bonds
Business Growth
i.
CM
ii.
F&O
iii.
WDM
iv.
RDM
The Organisation
The National Stock Exchange of India Limited has genesis in the report of the
High Powered Study Group on Establishment of New Stock Exchanges. It
recommended promotion of a National Stock Exchange by financial institutions
(FIs) to provide access to investors from all across the country on an equal footing.
Based on the recommendations, NSE was promoted by leading Financial
Institutions at the behest of the Government of India and was incorporated in
November 1992 as a tax-paying company unlike other stock exchanges in the
country.
The National Stock Exchange (NSE) operates a nation-wide, electronic market,
offering trading in Capital Market, Derivatives Market and Currency Derivatives
segments including equities, equities based derivatives, Currency futures and
options, equity based ETFs, Gold ETF and Retail Government Securities. Today
NSE network stretches to more than 1,500 locations in the country and supports
more than 2, 30,000 terminals.
With more than 10 asset classes in offering, NSE has taken many initiatives to
strengthen the securities industry and provides several new products like Mini
Nifty, Long Dated Options and Mutual Fund Service System. Responding to
market needs, NSE has introduced services like DMA, FIX capabilities, colocation facility and mobile trading to cater to the evolving need of the market and
various categories of market participants.
NSE has made its global presence felt with cross-listing arrangements, including
license agreements covering benchmark indexes for U.S. and Indian equities with
CME Group and has also signed a Memorandum of Understanding (MOU) with
Singapore Exchange (SGX) to cooperate in the development of a market for Indialinked products and services to be listed on SGX. The two exchanges also will look
into a bilateral securities trading link to enable investors in one country to
seamlessly trade on the other country's exchange.
NSE is committed to operate a market ecosystem which is transparent and at the
same time offers high levels of safety, integrity and corporate governance,
providing ever growing trading & investment opportunities for investors.
Corporate Structure
NSE is one of the first de-mutualized stock exchanges in the country, where the
ownership and management of the Exchange is completely divorced from the right
to trade on it. Though the impetus for its establishment came from policy makers in
the country, it has been set up as a public limited company, owned by the leading
institutional investors in the country.
From day one, NSE has adopted the form of a demutualized exchange - the
ownership, management and trading is in the hands of three different sets of
people. NSE is owned by a set of leading financial institutions, banks, insurance
companies and other financial intermediaries and is managed by professionals,
who do not directly or indirectly trade on the Exchange. This has completely
eliminated any conflict of interest and helped NSE in aggressively pursuing
policies and practices within a public interest framework.
The NSE model however, does not preclude, but in fact accommodates
involvement, support and contribution of trading members in a variety of ways. Its
Board comprises of senior executives from promoter institutions, eminent
Board of Directors
ii.
Mandatory Committees
iii.
resource (SPOC) for the account and Power ON/OFF / Boot on request are also
provided.
A significant order flow of the exchange is now passing through the Colocation facility especially for Algorithmic Trading and Direct Market
Access(DMA). To complement the High Frequency Trading, Tick By Tick
Market Data feed generating broadcast for every transaction is provided by the
exchange. More recently Thomson Reuterss Elektron data solution was
enabled at the co-location center to deliver high-speed connectivity for the
NSE's data.
Compatible with Financial Information Exchange (FIX Protocol), the IndustryStandard Messaging Protocol, for Equity, Derivatives and Currency market is
achieved through NSEs own connectivity software called as TAP (Trading
Access Point)
Now application service provisioning
NSE on Web (NOW) - A New Initiative for Members was taken up for
providing a low cost and low time to market deployment option for our
members. NOW is a near zero cost cloud paradigm based trading option. NOW
cloud provides connectivity to NSEs Equity, Derivatives, Currency
Derivatives and Mutual funds segments and also with other trading venues. The
major benefits of using NOW are almost zero Time to Market, Infrastructure
Cost, Maintenance Cost, and System Audit, Connectivity requirement,
Upgrades and versioning overheads. The entire member community be it the
newest member or a veteran have been using NOW successfully for various
needs from basic trading to business continuity trading.
Risk management
Risk containment measures at NSE include capital adequacy requirements of
members, monitoring of member performance and track record, stringent
margin requirements, position limits based on capital, online monitoring of
member positions and automatic disablement from trading when limits are
breached. The margins for the member is calculated first for his clients and then
grossed across clients to arrive at the member's margin. The methodology
applied is based on the Value-at-Risk (VaR) Methodology. The equity segment
uses this for the its risk management whereas for derivative products Standard
Portfolio Analysis of Risk (SPAN) is used. SPAN is a highly sophisticated,
value-at-risk
methodology
that
calculates
performance
bond/margin
both segment. The benefit is then grossed across all clients and passed on to the
member.http://www.nseindia.com/
3.1.3 BOMBAY STOCK EXCHANGE(BSE)
Established in 1875, BSE (formerly known as Bombay Stock Exchange Ltd.),
is Asia's first & the Fastest Stock Exchange in world with the speed of 6 micro
seconds and one of India's leading exchange groups. Over the past 140 years,
BSE has facilitated the growth of the Indian corporate sector by providing it an
efficient capital-raising platform. Popularly known as BSE, the bourse was
established as "The Native Share & Stock Brokers' Association" in 1875. BSE
is a corporatized and demutualized entity, with a broad shareholder-base which
includes two leading global exchanges, Deutsche Bourse and Singapore
Exchange as strategic partners. BSE provides an efficient and transparent
market for trading in equity, debt instruments, derivatives, mutual funds. It also
has a platform for trading in equities of small-and-medium enterprises
More than 5500 companies are listed on BSE making it world's No. 1 exchange
in terms of listed members. The companies listed on BSE command a total
market capitalization of USD 1.64 Trillion as of Sep 2015. It is also one of the
world's leading exchanges (5th largest in September 2015) for Index options
trading (Source: World Federation of Exchanges).
and competition across all market segments. BSE is the first exchange in India
and second in the world to obtain an ISO 9001:2000 certification. It is also the
first Exchange in the country and second in the world to receive Information
Security Management System Standard BS 7799-2-2002 certification for its
On-Line trading System (BOLT). It operates one of the most respected capital
market educational institutes in the country (the BSE Institute Ltd.). BSE also
provides depository services through its Central Depository Services Ltd.
(CDSL) arm. BSE's popular equity index - the S&P BSE SENSEX - is India's
most widely tracked stock market benchmark index. It is traded internationally
on the EUREX as well as leading exchanges of the BRCS nations (Brazil,
Russia,
China
and
South
Africa).
BSE has won several awards and recognitions that acknowledge the work done
and progress made like India Innovation Award for the Big Data
implementation , ICICI Lombard & ET Now Risk Management BFSI
Company 2013, SKOCH Order of Merit Certificate was awarded to BSE for E
-Boss for qualifying amongst India's Best 2013, The Golden Peacock Global
CSR Award for its initiatives in Corporate Social Responsibility, NASSCOM CNBC-TV18's IT User Awards, 2010 in Financial Services category, Skoch
Virtual Corporation 2010 Award in the BSE StAR MF category and
Responsibility Award (CSR) by the World Council of Corporate Governance.
Its recent milestones include the launching of BRICSMART indices
derivatives, BSE-SME Exchange platform, S&P BSE GREENEX to promote
investments in Green India
Vision
"Emerge as the premier Indian stock exchange with best-in-class global practice in
technology, products innovation and customer service."
Heritage
BSE Ltd, the first ever stock exchange in Asia established in 1875 and the first in
the country to be granted permanent recognition under the Securities Contract
Regulation Act, 1956, has had an interesting rise to prominence over the past 140
years.
While BSE Ltd is now synonymous with Dalal Street, it was not always so. The
first venue of the earliest stock broker meetings in the 1850s was in rather natural
environs - under banyan trees - in front of the Town Hall, where Horniman Circle
is now situated. A decade later, the brokers moved their venue to another set of
foliage, this time under banyan trees at the junction of Meadows Street and what is
now called Mahatma Gandhi Road. As the number of brokers increased, they had
to shift from place to place, but they always overflowed to the streets. At last, in
1874, the brokers found a permanent place, and one that they could, quite literally,
call their own. The new place was, aptly, called Dalal Street (Brokers' Street).
The journey of BSE Ltd. is as eventful and interesting as the history of India's
securities market. In fact, as India's biggest bourse in terms of listed companies and
market capitalization, almost every leading corporate in India has sourced BSE
Ltd.
services
in
raising
capital
and
is
listed
with
BSE
Ltd.
Even in terms of an orderly growth, much before the actual legislations were
enacted, BSE Ltd. had formulated a comprehensive set of Rules and Regulations
for the securities market. It had also laid down best practices which were adopted
subsequently by 23 stock exchanges which were set up after India gained its
independence.
BSE Ltd., as a institutional brand, has been and is synonymous with the capital
market in India. Its S&P BSE SENSEX is the benchmark equity index that reflects
the health of the Indian economy.
Brand Identity
Bombay Stock Exchange has now adopted only its initials as the new name (BSE),
positioning itself better position as a national multi-asset financial infrastructure
institution. BSEs strategic shift in approach, attitude and business focus is
reflected
in
its
new
tag
line
Experience
the
New.
With renewed zeal and focus on new business opportunities, product and service
innovation, upgrades in technology, increased investor and member focus, BSE is
always pushing the envelope on all fronts. The ambition is to continually improve
and
adopt
new
and
better
ways
of
conducting
our
business.
As the first stock exchange in Asia and the pioneer of securities transaction
business, BSE prides itself on being at the forefront of bringing innovations to the
Indian capital markets while creating diverse investment opportunities for the
investor
community
in
India
throughout
its
long
history.
BSE continues to undertake several initiatives to build on its strong brand, legacy
and market position to create value for its stakeholders and the financial system.
Achievements
At par with international standards, BSE Ltd. has been a pioneer in several areas
over the decades and has many firsts and key achievements to its credit. BSE is the
first exchange in India to
i.
ii.
iii.
iv.
v.
vi.
vii.
viii.
ix.
x.
xi.
Besides the above, BSE has taken large strides in product and service innovation
for the benefit of its members and investors, notable ones being
i.
ii.
Launch of the S&P BSE IPO index and S&P BSE PSU website
iii.
iv.
v.
vi.
vii.
viii.
ix.
ii.
iii.
iv.
v.
vi.
vii.
viii.
ix.
x.
xi.
xii.
xiii.
xiv.
SKOCH Order of Merit for E-Boss for qualifying among Indias Best 2013
xv.
Indian Merchant Chamber Award in the Large Enterprise Category for use of
Information Technology
xvi.
xvii.
The Golden Peacock Global CSR Award for its initiatives in Corporate
Social Responsibility
xviii.
xix.
BSE has won Skoch Virtual Corporation 2010 Award in the BSE StAR MF
category
xx.
xxi.
Annual Reports and Accounts of BSE have been awarded the ICAI awards
for excellence in financial reporting for four consecutive years from 2006
onwards
xxii.
Human Resource Management at BSE has won the Asia - Pacific HRM
awards for its efforts in employer branding through talent management at
work, health management at work and excellence in HR through technology
awarded the Golden Peacock Global - CSR Award for its initiatives in Corporate
Social Responsibility (CSR) by the World Council of Corporate Governance.
http://www.bseindia.com/static/about/introduction.aspx?expandable=0
As a sub member of NSE, BSE, MCX, NCDEX, NSDL and CDSL, which are pioneers in the
respective operations, SHARE KHAN is having more than 500 branches in all over India.
Share khan, Indias leading stock broker is the retail arm of SSKI, an organization with over
eighty years of experience in the stock market with more than 280 share shops in 120 cities and
big towns, and premier online trading destination www.sharekhan.com. Share khan offers the
trade execution facilities for cash as well as derivatives, on BSE and NSE, depository services,
commodities trading on the MCX(Multi Commodity Exchange of India Ltd) and NCDEX
(National Commodity and Derivative Exchange) and most importantly, investment advice
tempered by eighty years of broking experience.
Share khan provides the facility to trade in commodities through Share khan Commodities
Pvt.Ltd-a wholly owned subsidiary of its parent SSKI. Share khan is the member of two major
commodity exchanges MCX and NCDEX.
SSKI
Apart from Share khan, the SSKI group also comprises of institutional broking and corporate
finance. The institutional broking division caters to domestic and foreign institutional investors,
while the corporate finance division focuses on niche areas such as infrastructure, telecom and
media. SSKI owns 56% in Share khan and the balance ownership is HSBC, First Caryl and Intel
Pacific. SSKI has been voted as the top domestic brokerage house in the research category, twice
by Euro money survey and four times by Asia money survey.
SHARE KHAN is on-par with the investor expectations in providing professional services,
namely Online Trading in Equity, Commodities and F&O
Corporate training for executives on NCFM (National Stock Exchange Certificate inn
Financial Markets)
SHARE KHAN offers large avenues of investment solutions for all classes of investors under
one roof.
SHARE KHAN experience is one of prized possession. SHARE KHAN has an experience of
more than 20 years wherein grown phenomenally.
Timely advice along with research support to the clients through SMS and E-MAILS on
EQUITIES, DERIVATIVES, COMMODITIES, IPOs and Mutual Funds.
VALUE FOR INVESTOR'S TRUST
INTEGRITY AND HONESTY
SHARE KHAN APPROACH:
PERSONALIZED ATTENTION
Share khan won the award by the vote of consumers around the country, as part of Indias
largest consumer study cover 7000 respondents 21 products and services across 21 major cities.
The study, initiated by Awaaz Indias first dedicated Consumer Channel and member of the
worldwide CNBC Network, and AC Nielsen ORG Marg, was aimed at understanding the brand
preferences of the consumers and to decipher what are the most important loyalty criteria for the
consume
in
each
vertical.
In order to select the award recipient, spontaneous responses, rather than prompted
responses were garnered, with an intention to glean unbiased preferences. Opinions were garnered
from owners of each of the categories, to get experiential responses, which are likely to be more
realistic and grounded in nature. Further, preference also indicates future intentions of repeat
purchases.
The reasons behind the preferences for brands were unveiled by examining the following:
Tangible features of product / service
Share khan is honored to be voted as the Most Preferred Stock Broking Brand in India. Our
focus has always been to demystify the stock market and empower the investors to take informed
decisions, said Jaideep Arora, Director, Share khan. The Award increases Share khans
responsibility to persistently delight our customers with user-friendly trading experience and we
shall continue our focus to evolve business strategies that keep us aligned with our customers
needs.
VISION:
To Become Successful Investment Advisors by developing the strategies which are implement
able and leads to provide better returns than Bench mark portfolios.