Summer Internship Project

On

“Investment Benefits & Comparative Analysis

of Stock Brokerage Firms with respect to
Religare Securities Ltd.”

Submitted to:
1.) Mr. Ashish Deodia
2.) Mr. Rakesh Raghuwanshi
3.) Prof. Lakhan Choudhary

By:
Gangesh Mayank
MBA (Sem- 11)
Kothari B-School
(2009-2011)
 DECLARATION

I, GANGESH MAYANK, student of MBA from KOTHARI BUSINESS

SCHOOL hereby declare that I have completed this project on " Religare

Securities – A batter way to invest” . The information submitted is true

and original to the best of knowledge.

DATE - GANGESH MAYANK

 ACKNOWLEDGEMENT

The most pleasant part of any project is to express gratitude and bestow
honor towards all those who directly or indirectly contributed to the smooth flow
of the project work and this being the good opportunity; I don’t want to miss it.

Sincere acknowledgement is due foremost to MR. RAKESH

RAGHUWANSHI - TEAM LEADER (RELIGARE SECURITIES LTD,
INDORE). Who endowed me with the valuable opportunity to explore so
interesting topic as is the subject of the present report.

I also wish to express sincere gratitude to all the respondents of the project
without the kind of co-operation of whom this work would not have been possible.

GANGESH MAYANK
 CONTENTS

CHAPTER-I INTRODUCTION

CHAPTER-II COMPANY PROFILE

CHAPTER-III OBJECTIVE OF THE STUDY

CHAPTER-IV RESEARCH METHODOLOGY

CHAPTER-V COMPARISION TABLE

CHAPTER-VII CONCLUSION & SUGGESTION

BIBLIOGRAPHY

ANNEXURE

INTRODUCTION
 Savings form an important part of the economy of
any nation. With the savings invested in various options
available to the people, the money acts as the driver for
growth of the country.
Investment benefits both economy and the society.
Aggregate investment in the current period helps in the
determination of aggregate demand & level of
employment. The process of investing helps to create
financial markets where companies can raise capital. This
too, contributes to greater economic growth and
prosperity.
 INVESTMENTS

The meaning of investment is to commit money in

order to earn a financial return or to make use of the
money for future benefits or advantages. In finance, the
purchase of a financial product or other item of value with
an expectation of favorable future returns. In general
terms, investment means the use money in the hope of
making more money. For example, if you invest Rs.
10000 today and earn 10 % over the next year, you will
have Rs.11000 one year from today.

Why should one invest?

One needs to invest to:
 earn return on your idle resources
 generate a specified sum of money for a specific goal
in life
 make a provision for an uncertain future
 meet the cost of Inflation

Choosing the Right Investment Options

Investment comes with the risk of the loss of the

principal sum. The investment that has not been
thoroughly analyzed can be highly risky with respect to
the investment owner because the possibility of losing
money is not within the owner's control. Thus it is very
important to choose the right investment option for a
concern.
The investors would like to know how to go
about the task of investment, how much to invest at any
moment and when to buy or sell the securities, This
depends on investment process as investment policy,
investment analysis, valuation of securities, portfolio
construction and portfolio evaluation and revision. Every
investor tries to derive maximum economic advantage
from his investment activity.

For evaluating an investment avenues are based upon the

rate of return, risk and uncertainty, capital appreciation,
marketability, tax advantage and convenience of
investment. In most cases, the right investment is a
balance of three things: Liquidity, Safety and Return.

Investment Options in India

Source-Delhi Business Review X Vol. 8, No. 1 (January - June 2007)

Fixed Deposits
There are also referred to as term deposits and minimum
investment period for bank FDs is 30 days. Fixed
Deposits with banks are for investors with low risk
appetite, and may be considered for 6-12 months
investment period as normally interest on less than 6
months bank FDs is likely to be lower than money market
fund returns.

Government Bonds

The Central and State Governments raise money from the

market through a variety of Small Saving Schemes like
national saving certificates, Kisan Vikas Patra, Post
Office Deposits, Provident Funds, etc. These schemes are
risk free as the government does not default in payments.
But the interest rates offered by them are in the range of
7% - 9%.
MUTUAL FUNDS

A mutual fund is a professionally managed type of

collective investment scheme that pools money from
many investors and invests typically in investment
securities (stocks, bonds, short-term money market
instruments, other mutual funds, other securities, and/or
commodities such as precious metals). The mutual fund
will have a fund manager that trades (buys and sells) the
fund's investments in accordance with the fund's
investment objective. There is a collection of investors in
Mutual funds that have professional fund managers that
invest in the stock market collectively on behalf of
investors. Mutual funds offer a better route to investing in
equities for lay investors.
STOCK EXCHANGE
 A stock exchange is an entity which provides
"trading" facilities for stock brokers and traders, to trade
stocks and other securities. Stock exchanges also provide
facilities for the issue and redemption of securities as well
as other financial instruments and capital events including
the payment of income and dividends. The securities
traded on a stock exchange include shares issued by
companies, unit trusts, derivatives, pooled investment
products and bonds. For the stock of a company to be
traded at these exchanges, it must be listed, and to be
listed, the company must satisfy certain requirements. To
be able to trade a security on a certain stock exchange, it
has to be listed there. Usually there is a central location at
least for recordkeeping, but trade is less and less linked to
such a physical place, as modern markets are electronic
networks, which gives them advantages of speed and cost
of transactions.

IMPORTANCE OF STOCK EXCHANGE

 Stock exchange is an important part of the
economy of a country. The stock exchange plays a play a
pivotal role in the growth of the industry and commerce
of the country that eventually affects the economy of the
country to a great extent. That is reason that the
government, industry and even the central banks of the
country keep a close watch on the happenings of the stock
market. The stock market is important from both the
industry’s point of view as well as the investor’s point of
view.
Stock exchanges have multiple roles in the
economy. This may include the following:

Raising capital for businesses

Mobilizing savings for investment
Creating investment opportunities for
small investors
Government capital-raising for
development projects
OTHER SECURITIES

Stock exchanges deals in all forms of

securities. A security is a fungible, negotiable instrument
representing financial value. Securities are broadly
categorized into debt securities (such as banknotes, bonds
and debentures) and equity securities, e.g., common
stocks; and derivative contracts, such as forwards, futures,
options and swaps.

BONDS

In finance, a bond is a debt security, in which the

authorized issuer owes the holders a debt and,
depending on the terms of the bond, is obliged to pay
interest (the coupon) and/or to repay the principal at a
later date, termed maturity. A bond is a formal
contract to repay borrowed money with interest at
fixed intervals
 FUTURE CONTRACT

A futures contract is a standardized contract between

two parties to buy or sell a specified asset of
standardized quantity and quality at a specified future
date at a price agreed today (the futures price). The
contracts are traded on a futures exchange. Futures
contracts are not "direct" securities like stocks,
bonds, rights or warrants. They are still securities,
however, though they are a type of derivative
contract. The party agreeing to buy the underlying
asset in the future assumes a long position, and the
party agreeing to sell the asset in the future assumes a
short position.
 OPTIONS

Options are a type of financial instrument classed as

derivatives, as they 'derive' their value from an underlying
asset. An option gives its holder the right, but not the
obligation, to buy (call option) or to sell (put option) some
underlying asset on or before the options expiration date
at an agreed on price (the strike price).
In return for granting the option, the originator of the
option collects a payment (the premium) from the buyer.
Granting the option is also referred to as "writing" the
option. An option can be sold by its original buyer to
another party.
There are two basic types of options, call options and put
options.
1. Call option: A call option gives the holder the right but
not the obligation to buy an asset by a certain date for a
certain price.
2. Put option: A put option gives the holder the right but
not the obligation to sell an asset by a certain date for a
certain price.
 Securities and Exchange Board of India
(SEBI)

SEBI is the regulator for the securities market in India. It

was formed officially by the Government of India in 1992
with SEBI Act 1992 being passed by the Indian
Parliament. Chaired by C B Bhave, SEBI is headquartered
in the popular business district of Bandra-Kurla complex
in Mumbai (shown in above picture).
Functions and responsibilities -
SEBI has to be responsive to the needs of three groups,
which constitute the market:
 the issuers of securities
 the investors
 the market intermediaries.
The major functions of SEBI are as follows:
 Protecting the interests of investors in securities
 Promoting the development of the securities market
 Regulating the business in stock exchanges and any
other securities markets
 Registering and regulating the working of stock
brokers, sub–brokers etc.
 Promoting and regulating self-regulatory organizations
 Prohibiting fraudulent and unfair trade practices
 Calling for information from, undertaking inspection,
conducting inquiries and audits of the stock exchanges,
intermediaries, self - regulatory organizations, mutual
funds and other persons associated with the securities
market.
 NATIONAL STOCK EXCHANGE OF INDIA LTD

The National Stock Exchange of India

Limited 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. Since its
inception in 1992, National Stock Exchange of India has
been at the vanguard of change in the Indian securities
market. This period has seen remarkable changes in
markets, from how capital is raised and traded, to how
transactions are cleared and settled. Average daily trading
volumes have jumped from Rs. 17 crore in 1994-95 when
NSE started its Cash Market segment to Rs.11,325 crore
in 2008-09. Similarly, market capitalization of listed
Indian firms went up from Rs.363,350 crore at the end of
March 1995 to Rs.2,896,194 crore at end March 2009.

NSE is the largest stock exchange of the

country. It has a market share of nearly 70% in equity
trading and 98% in futures and options trading in India.
Globally, NSE ranks among the top three stock exchanges
in terms of number of contracts traded in single stock
futures, index futures and stock options. It is among the
top four of the stock exchanges around the world in terms
of number of transactions and are also ranked among the
top ten largest derivatives exchanges of the world.

Our Group

NSCCL

IISL DotEx Intl. Ltd.

NSE.IT NCCL
 BOMBAY STOCK EXCHANGE (BSE)

Bombay Stock Exchange is the oldest stock

exchange in Asia What is now popularly known as the
BSE was established as "The Native Share & Stock
Brokers' Association" in 1875.

Over the past 135 years, BSE has facilitated the growth of
the Indian corporate sector by providing it with an
efficient capital raising platform.

Today, BSE is the world's number 1 exchange in the

world in terms of the number of listed companies (over
4900). It is the world's 5th most active in terms of number
of transactions handled through its electronic trading
system. And it is in the top ten of global exchanges in
terms of the market capitalization of its listed companies
(as of December 31, 2009). The companies listed on BSE
command a total market capitalization of USD Trillion
1.28 as of Feb, 2010.
BSE is the first exchange in India and the second in the
world to obtain an ISO 9001:2000 certifications. It is also
the first Exchange in the country and second in the world
to receive Information Security Management System
Standard.

Awards

 The World Council of Corporate Governance has

awarded the Golden Peacock Global CSR Award for
BSE's initiatives in Corporate Social Responsibility
(CSR).
 The Annual Reports and Accounts of BSE for the
year ended March 31, 2006 and March 31 2007 have
been awarded the ICAI awards for excellence in
financial reporting.
 The 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.
DEPOSITORY

A depository is like a bank wherein the deposits are

securities (viz. shares, debentures, bonds, government
securities, units etc.) in electronic form.
The term depository refers to a bank or company
which holds funds or securities deposited by others, and
where exchanges of these securities take place.

NSDL & CDSL

In India there are two depositories working currently

which are

 NATIONAL SECURITIES DEPOSITORIES

LIMITED (NSDL)
 CENTRAL DEPOSITORIES SERVICES LIMITED
(CDSL)

The first depository in India was NSDL which was

established in November 1996. This depository promoted
by institutions of national stature responsible for
economic development of the country has since
established a national infrastructure of international
standards that handles most of the securities held and
settled in dematerialized form in the Indian capital
market. NSDL works to support the investors and brokers
in the capital market of the country. NSDL aims at
ensuring the safety and soundness of Indian marketplaces
by developing settlement solutions that increase
efficiency, minimize risk and reduce costs.

Benefits of Depository System

In the depository system, the ownership and
transfer of securities takes place by means of electronic
book entries. At the outset, this system rids the capital
market of the dangers related to handling of paper. NSDL
provides numerous direct and indirect benefits like:

 Elimination of bad deliveries

In the depository environment, once holdings of an
investor are dematerialised, the question of bad
delivery does not arise i.e. they cannot be held "under
objection". In the physical environment, buyer was
required to take the risk of transfer and face
uncertainty of the quality of assets purchased. In a
depository environment good money certainly begets
good quality of assets.
  Elimination of all risks associated with physical
certificates-
Dealing in physical securities have associated security
risks of theft of stocks, mutilation of certificates, loss of
certificates during movements through and from the
registrars, thus exposing the investor to the cost of
obtaining duplicate certificates etc. This problem does not
arise in the depository environment.

 No stamp duty
For transfer of any kind of securities in the
depository. This waiver extends to equity shares, debt
instruments and units of mutual funds.

 Immediate transfer and registration of securities

In the depository environment, once the securities
are credited to the investors account on pay out, he
becomes the legal owner of the securities. There is no
further need to send it to the company's registrar for
registration. Having purchased securities in the
physical environment, the investor has to send it to
the company's registrar so that the change of
ownership can be registered. This process usually
 takes around three to four months and is rarely
completed within the statutory framework of two
months thus exposing the investor to opportunity cost
of delay in transfer and to risk of loss in transit. To
overcome this, the normally accepted practice is to
hold the securities in street names i.e. not to register
the change of ownership. However, if the investors
miss a book closure the securities are not good for
delivery and the investor would also stand to loose
his corporate entitlements.
 Faster settlement cycle
The settlement cycle follow rolling settlement on
T+2 basis i.e. the settlement of trades will be on the
2nd working day from the trade day. This will enable
faster turnover of stock and more liquidity with the
investor.
 Faster disbursement of non cash corporate
benefits like rights, bonus, etc.
NSDL provides for direct credit of non cash
corporate entitlements to an investors account,
thereby ensuring faster disbursement and avoiding
risk of loss of certificates in transit.
 Reduction in brokerage by many brokers for
trading in dematerialised securities
 Brokers provide this benefit to investors as dealing
in dematerialised securities reduces their back office
cost of handling paper and also eliminates the risk of
being the introducing broker.
 Reduction in handling of huge volumes of paper
periodic status reports
To investors on their holdings and transactions,
leading to better controls.
 Elimination of problems related to change of
address of investor
In case of change of address, investors are saved
from undergoing the entire change procedure with
each company or registrar. Investors have to only
inform their DP with all relevant documents and the
required changes are effected in the database of all
the companies, where the investor is a registered
holder of securities.
 Elimination of problems related to transmission of
demat shares
In case of dematerialised holdings, the process of
transmission is more convenient as the transmission
formalities for all securities held in a demat account
can be completed by submitting documents to the DP
whereas, in case of physical securities the surviving
 joint holder(s)/legal heirs/nominee has to correspond
independently with each company in which shares
are held.
 Elimination of problems related to selling
securities on behalf of a minor
A natural guardian is not required to take court
approval for selling demat securities on behalf of a
minor.
 Ease in portfolio monitoring
Since statement of account gives a consolidated
position of investments in all instruments.

Safety

There are various checks and measures in the depository

system to ensure safety of the investor holdings. These
include:
 A DP can be operational only after registration by
SEBI, which is based on the recommendation from
NSDL and their own independent evaluation. SEBI
has prescribed criteria for becoming a DP in the
regulations.
 DPs are allowed to effect any debit and credit to an
account only on the basis of valid instruction from
the client.
 Every day, there is a system driven mandatory
reconciliation between DP and NSDL.
 All transactions are recorded at NSDL Central
System and in the databases maintained by business
partners.
 There are periodic inspections into the activities of
both DP and R&T agent by NSDL. This also includes
records based on which the debit/credit are effected.
 All investors have a right to receive their statement of
accounts periodically from the DP.
 Every month NSDL forwards statement of account to
a random sample of investors as a counter check.
 In the depository, the depository holds the investor
accounts on trust. Therefore, if the DP goes bankrupt
the creditors of the DP will have no access to the
holdings in the name of the clients of the DP. These
investors can transfer their holdings to an account
held with another DP.
 The data interchange between NSDL and its business
partners is protected by protection measures of
international standards such as encryption hardware
lock. The protection measures adopted by NSDL are
more than what is prescribed in the SEBI
Regulations.
 Freeze Facility: A depository account holder
(beneficiary account) may freeze securities lying in
the account for as long as the account holder wants it.
By freezing the account, account holder can prevent
unexpected debits or credits or both, creeping into its
account. The following types of freeze facility
available in the NSDL system may be availed of by
submitting freeze instruction to the DP in the
prescribed form.
 Freeze for debits only
 Freeze for debits as well as credits
 Freeze a particular ISIN in the account
 Freeze a specific number of securities held under
an ISIN in an account

 Certification in Depository Operations : NSDL has

introduced a Certification Programme in Depository
Operations (popularly known as NCFM
certification), and it has been made compulsory for
all DPs to appoint a person qualified in this
certification in each of its branches. This way, NSDL
wants to ensure that each branch of a DP that services
investors has atleast one person who has thorough
knowledge about depository system.
 Investor grievance: All grievances of the investors
are to be resolved by the concerned business partner.
If they fail to do so, the investor has the right to
approach NSDL at the following address:
Officer-In-Charge
Investor Relationship Cell
NSDL
4th floor, A Wing, Trade World
Kamala Mills Compound
Senapati Bapat Marg
Lower Parel Mumbai- 400013
email: relations@nsdl.co.in
The investor relationship cell of NSDL would work
towards resolution of the grievance.
 Insurance Cover: NSDL has taken a comprehensive
insurance policy to help DP to indemnifying
investors for the loss accrued to them due to errors,
omissions, commission or negligence of DP.
 Computer and communication infrastructure:
NSDL and its business partners use hardware,
software and communication systems, which
conform to industry standards. Further, the systems
are accepted by NSDL only after a rigorous testing
procedure. NSDL's central system comprises an IBM
mainframe system with a back-up facility and a
remote disaster back-up site.
 Machine level back-up: The IBM mainframe in
which the data is processed has adequate redundancy
built into its configuration. There is a standby central
processing unit (CPU) to which processing can be
switched over to in case of main system CPU failure.
The disk has RAID implementation, which ensures
that a failure of hard disk will not lead to loss in data.
System has spare disk configuration where data is
automatically copied from the main disk upon
encountering the first failure (due to RAID
implementation - first failure does not result in loss of
data).

All network components like router, communication

controllers etc., have on-line redundancy and thus a
failure does not result in loss of transaction.

Disaster back up site: A disaster back up site

equipped with a computer identical to the mainframe
computer & computing resources has been set up at a
distant location about 175 km away from Mumbai.
The depository operations are often switched
between the computing resources at Mumbai office
and disaster back up site to ensure that the disaster
site is always operational.
 Back-up in case of power failure: Continuity in
power supply to the main systems is assured by
providing for;

 Dual uninterrupted power supply (UPS) for

IBM-Mainframe and related components
wherein the two UPSs are connected in
tandem. In case of failure of primary UPS,
the secondary UPS takes over
instantaneously and thus, there is no
interruption in operation, and
 Back-up diesel generator sets.

Periodic Review: The NSDL hardware, software and

communication systems are continuously reviewed in
order to make them more secure and adequate for the size
of business. These reviews are a part of an ongoing
exercise wherein security considerations are given as
much importance as operational efficiency.
 CENTRAL DEPOSITORY SERVICES LIMITED
(CDSL)

CDSL was promoted by Bombay Stock Exchange

Limited (BSE) jointly with leading banks such as State
Bank of India, Bank of India, Bank of Baroda, HDFC
Bank, Standard Chartered Bank, Union Bank of India and
Centurion Bank. CDSL was set up with the objective of
providing convenient, dependable and secure depository
services at affordable cost to all market participants.

Benefits of CDSL –

Convenience:
Wide DP Network: CDSL has a wide network of DPs,
operating from over 6000 sites, across the country,
offering convenience for an investor to select a DP based
on his location.
On-line DP Services: The DPs are directly connected to
CDSL thereby providing on-line and efficient depository
service to investors.

Wide Spectrum of Securities Available for Demat:The

equity shares of almost all A, B1 & B2 group companies
are available for dematerialisation on CDSL, consisting of
Public (listed & unlisted) Limited and Private Limited
companies. These securities include equities, bonds, units
of mutual funds, Govt. securities, Commercial papers,
Certificate of deposits; etc. Thus, an investor can hold
almost all his securities in one account with CDSL. A BO
can also hold warehouse receipts pertaining to
commodities, in a demat account. However, a separate
account should be opened for holding warehouse receipts.

Competitive Fees Structure: CDSL has kept its tariffs

very competitive to provide affordable depository services
to investors.

Internet Access:A DP, which registers itself with CDSL

for Internet access, can in turn provide demat account
holders with access to their account on the Internet.
Dependability:
On-line Information to Users: CDSL's system is built on a
centralised database architecture and thus enables DPs to
provide on-line depository services with the latest status
of the investor's account.

Convenient to DPs: The entire database of investors is

stored centrally at CDSL. If there is any system-related
issues at DPs end, the investor is not affected, as the
entire data is available at CDSL.

Contingency Arrangements: CDSL has made provisions

for contingency terminals, which enables a DP to update
transactions, in case of any system related problems at the
DP's office.

Meeting User's Requirements: Continuous updation of

procedures and processes in tune with evolving market
practices is another hallmark of CDSL's services

Audit and Inspection: CDSL conducts regular audit of its

DPs to ensure compliance of operational and regulatory
requirements.
Dormant Account Monitoring: CDSL has in place a
mechanism for monitoring dormant accounts.

Helpdesk:: DPs and investors can obtain clarifications and

guidance from CDSL's prompt and courteous helpline
facility.
Security:
Computer Systems: All data held at CDSL and is
automatically mirrored at the Disaster Recovery site and
is also backed up and stored in fireproof cabinets at the
main and disaster recovery site.

Unique BO Account Number:: Every BO in CDSL is

allotted a unique account number, which prevents any
erroneous entry or transfer of securities. If the transferor's
account number is wrongly entered, the transaction will
not go through the CDSL system, unless corrected.

Data Security: All data and communications between

CDSL and its users is encrypted to ensure its security and
integrity.
Claims on DP: If any DP of CDSL goes into liquidation,
the creditors of the DP will have no access to the holdings
of the BO.

Insurance Cover: CDSL has an insurance cover in the

unlikely event of loss to a BO due to the negligence of
CDSL or its DPs.

COMPANY PROFILE
INTRODUCTION

Religare Enterprises Limited (REL) is a global

financial services group with a presence across Asia,
Africa, Middle East, Europe and the Americas. In India,
REL’s largest market, the group offers a wide array of
products and services ranging from insurance, asset
management, broking and lending solutions to investment
banking and wealth management. The group has also
pioneered the concept of investments in alternative asset
classes such as arts and films .With 10,000 plus
employees across multiple geographies, REL serves over
a million clients, including corporates and institutions,
high net worth families and individuals, and retail
investors.

Religare Securities Limited (RSL), a 100%

subsidiary of Religare Enterprises Limited is a leading
equity and securities firm in India. The company currently
handles sizeable volumes traded on NSE and in the realm
of online trading and investments; it currently holds a
reasonable share of the market. The major activities and
offerings of the company today are Equity Broking,
Depository Participant Services, Institutional Broking
and Research Services. To broaden the gamut of services
offered to its investors, the company offers an online
investment portal armed with a host of revolutionary
features.
 RSL is a member of the National Stock Exchange of
India, Bombay Stock Exchange of India, Depository
Participant with National Securities Depository
Limited and Central Depository Services (I) Limited.
 Religare has been constantly innovating in terms of
product and services and to offer such incisive
services to specific user segments it has also started
the NRI, FII, HNI and Corporate Servicing groups.
These groups take all the portfolio investment
decisions depending upon a client's risk / return
parameter.
 Religare has a very credible Research and Analysis
division, which not only caters to the need of our
Institutional clientele, but also gives their valuable
inputs to investment dealers.
 
OUR BRAND IDENTITY

Name

Religare is a Latin word that translates as 'to bind

together'. This name has been chosen to reflect the
integrated nature of the financial services the company
offers.
Symbol

The Religare name is paired with the symbol of a four-

leaf clover. Traditionally, it is considered good fortune to
find a four-leaf clover as there is only one four-leaf clover
for every 10,000 three-leaf clovers found.
For us, each leaf of the clover has a special meaning. It is
a symbol of Hope. Trust. Care. Good Fortune.
For the world, it is the symbol of Religare.

The first leaf of the clover represents Hope. The

aspirations to succeed. The dream of becoming. Of
new possibilities. It is the beginning of every step
and the foundation on which a person reaches for
the stars.

The second leaf of the clover represents Trust. The

ability to place one’s own faith in another. To have
a relationship as partners in a team. To accomplish
a given goal with the balance that brings
satisfaction to all, not in the binding, but in the
bond that is built.

The third leaf of the clover represents Care. The

secret ingredient that is the cement in every
relationship. The truth of feeling that underlines
sincerity and the triumph of diligence in every
aspect. From it springs true warmth of service and
the ability to adapt to evolving environments with
consideration to all.

The fourth and final leaf of the clover represents

Good Fortune. Signifying that rare ability to meld
 opportunity and planning with circumstance to
generate those often looked for remunerative
moments of success.

Hope. Trust. Care. Good Fortune. All elements

perfectly combine in the emblematic and rare, four-
leaf clover to visually symbolize the values that
bind together and form the core of the Religare
vision.

Vision and Mission

 To build Religare as a globally trusted brand in the
Vision financial services domain and present it as the
‘Investment Gateway of India’

Providing financial care driven by the

Mission core values of diligence and transparency

Religare is driven by ethical and dynamic

Brand
Essence processes for wealth creation

SERVICES OFFERED BY RELIGARE SECURITIES

 Religare securities limited (RSL) is one of
the leading stock market company in India. Religare
also has one of the largest retail networks, with its
presence in more than 1,837* locations across more than
498* cities and towns. This means, you can walk into any
of these branches and connect to our highly skilled and
dedicated relationship managers to get the best services.

The Religare Edge

 Pan India footprint
 Powerful research and analytics supported by a pool
of highly skilled research analysts
 Ethical business practices
 Offline/Online delivery models
 Single window for all investment needs through your
unique CRN

Religare Securities limited (RSL) provides a wide

range of services to its customers. Some of the important
services are as follows:
DEMAT ACCOUNT

EQUITY &
DERIVATIVES

DEPOSITORY
PARTICIPANTS

PORTFOLIO
MANAGEMENT
 COMMODITY
TRADING

CALL – N - TRADE

ONLINE TRADING
RSL PRODUCTS

RSL introduces a lot of products which suits to a

wide range of customers & investors. Thus it helps the
customers to plan according to their requirements.
There are two important platforms provided by
Religare Securities with online trading inbuilt facility.
These products are RACE LITE & RACE PRO.

BASIS OF Race lite Race pro

DIFFERENCE
Version Browser based Application based
NSE,BSE,F&O YES yes
In single platform
Real time quotes YES yes
Alerts YES yes
Hot keys YES yes
Online fund YES yes
transfer through
internet
Technical no yes
charting
Derivative chains no yes

F & o calculator YES yes

Interest to clients YES yes
Call-n-trade YES yes
service
Access a/c on YES yes
internet & phone
Account Rs. 499 Rs. 999
activation charges
Margin required 5000 10000
Market watch 4 market watch of Multiple watch
20 scripts each list
(unlimited)

Unique features:
 1. Trade rewards

Trade Rewards* is a unique offering from

Religare that gives you dual benefit of a hassle free
investment experience on the net as well as an
opportunity to earn while you invest with us. So earn
reward points each time you trade in equities and
commodities or invest in your favorite IPOs and mutual
funds online with us through our highly sophisticated and
customized trading platform R-ACE (Religare Advanced
Client Engine)

2. Interest on cash margin

 Even while you are waiting to make your next
trade or online investment, your unutilized cash does not
lie idle with us. You earn interest on your unutilized cash
margin.

3. 360* investment portal

Invest online in Equities, Commodities, Currency,

IPO and Mutual Funds in a single platform and maintain
all your financial records at one place. Now, you can also
file your tax and book air tickets, make hotel reservations
and buy attractive holiday packages, all online. So get
empowered, enrich your experience of investing online
and open yourself to a whole new world of possibilities
for Religare Online will become Your World Online,
beyond investments!

4. Advanced Trading Platform

The special trading platforms of Religare

Securities like RACE LITE & RACE PRO are designed
to be user friendly so that anyone can use these products
through internet anywhere in India. These platforms
allows even a non-tech savvy customer to trade hassle
free anytime from anywhere through the internet with the
help of page guides.

BANKING PARTNERS
 CITI BANK

 HDFC BANK

 ICICI BANK

 AXIS BANK

 CORPORATION BANK

 INDUSLND BANK

BROKERAGE PLANS
Name of plan General Trump Trump Trump
plus super star
Advance Nil 2500 15000 50000
brokerage
Validity lifetime 12 12 12
month month month
Brokerage 0.5 paisa 0.25 0.15 0.10
(delivery) paisa paisa paisa
Brokerage 0.05 0.025 0.015 0.010
(intraday) paisa paisa paisa paisa
Brokerage 0.05 0.025 0.015 0.010
(future & paisa paisa paisa paisa
option)
Service tax on 10.3 % 10.3 % 10.3 % 10.3 %
brokerage

OBJECTIVE OF THE STUDY

 Primary objective
1. To understand the various beneficial services
provided by RELIGARE SECURITIES LIMITED.

 Secondary objective

2. To understand share broking industry in India

3. To gain the knowledge about the needs of the
investors.

RESEARCH METHODOLOGY
 A Research design is purely and simply the
framework of plan for a study that guides the collection
and analysis of data. The study is intended to find the
investors preference towards various investment
avenues. The study design is descriptive in nature.

It is the simplest type of research and is more

specific. Mainly designed to gather descriptive
information and provides information for formulating
more sophisticated studies.

Comparison table

Share ICICI Religare India

khan Direc bulls
t
A/C 750 750 500 1200
opening
Minimum 2500 - 5000 5000 5000(non
balance 5000 refundabl
e)
Max No. 8 1 5 5
of bank
a/c linked
Brokerage 0. 5 0.75 0.5 0.3
(delivery)
Brokerage 0.05 0.075 0.05 0.03
(intraday)
Brokerage 0.05 NA 0.05 0.03
(F & O)
CALL-N- Nil (only Rs. nil NA
TRADE local) 25/ca
charges ll
Internet Yes Yes Yes Yes
trading
Pre market No Yes Yes No
report
NRI NO NO Yes Yes
Service
Demat Nil Nil Nil Nil
opening
charges
Annual 300 500 250 nil
maintenan
ce charges
Exposure 4 times 3-4 4 times 4 times
on margin times
Sms Yes Yes Yes No
service
Trading Yes No Yes Yes
software
(live)
Availabilit All over 250+ All over india 124+
y india cities cities
Bank tie CITI bank, ICICI CITI bank, ICICI
ups IDBI, bank ICICI bank, bank,
ICICI HDFC bank, AXIS
AXIS AXIS bank, bank,
bank, INDUSLND ING
HDFC bank, VYSYA
bank, CORPORATI bank,
INDUSLN ON bank, YES HDFC
D bank, bank bank
YES bank

CONCLUSION
 At present, investment decisions play an
important role for future perspectives. Investing in stock
markets is a major challenge ever for professionals. After

analysis, I come to conclusion that RELIGARE

SECURITIES LIMITED (RSL) would be a better choice
for investment purpose. According to
SELECTYOURBROKER.COM, it is a 5 star company
with highest customer satisfaction level. It provides a
variety of services like Demat facility, Stock broking,
Equity trading, Mutual funds, IPO’s, Advisory,
Commodity, Insurance, Derivatives; under one roof. For

the ones who are looking to invest their precious money,

RSL is a efficient & beneficial tool.
 RECOMMENDATIONS AND SUGGESTIONS

 The brokerage of Religare Securities Limited are

high as compare to competitors.
 Due to lack of publicity, people are not familiar
about RSL.
 The infrastructure of the company should be well
developed.
 Some big decisions must be taken by the RSL for the
advertisement & publicity purpose.
 RSL is a well known company in South India but
there is a lot of scope in Middle India also.
 BIBLIOGRAPHY

1. www.religareomline.com
2. www.religare.in
3. www.chittorgarh.com/newportal/online-stock-
brokers-detail.asp
4. www.nse-india.com/
5. www.bseindia.com/
6. http://www.stockedge.com/
7.www.Selectyourbroker.com
 ANNEXURE

QUESTIONNAIRE

NAME :

1. Age
(a) 20-30 [ ] (b) 31-40 [ ] (c)
41-50 [ ] (d) 51 & above [ ]
2. Gender
(a) Male [ ] (b) Female [ ]
3. Educational qualification
(a) High School [ ] (b) Graduate [ ](c) Post
Graduate [] (d) Professional [ ] (e)
Others [ ]
 4. Annual income

(a) Below 1, 00,000 [ ] (b) 1, 00,000-5,

00,000 [ ]

(c) 5, 00,000-10, 00,000 [ ] (d) Above

10, 00,000 [ ]

5. Do you invest your money to grow

a. yes

b.No

6. Which factor do you consider most important while

choosing an investment option?
(a) How quickly will I be able to increase wealth?
(b) The opportunity for steady growth
(c) The amount of monthly income the investment
will generate
 (d) The safety of investment principal

7. Where do you invest ?

a. Mutual Funds
b. Shares
c. Commodity Market
d. Fixed Deposits
e. Bonds
f. Property
g. Others

8. How did you know about RELIGARE

SECURITIES.

a. Friends
b. Advertisement
c. Newspapers
d. other