Religare Project

A Project Report
On
Religare.in
By
Barun Kumar
Jaipuria Institute of Management Studies
Ghaziabad
A report submitted in the partial fulfillment of
The requirements of
PGDBM (2009-2011)
7/21/2011 BARUN KUMAR

JIMS GZB
PREFACE
To maintain and cope up with the growing competition from the various online
trading providers, Religare needs to find potential clients and also new investors
and satisfy there needs.
The Broad objective of the project is to equipped the trainees with all the quality
Which is essential to face any circumstances which can arise while providing
service to the clients?
This project will accomplish to understand how the people interact with
technology savvy products and if they are ready for doing all the trading through
net. The project also helps in understanding the trend of the particular sector
(banking sector) in different market condition.
All these steps help me to understand how to cope up with different types of
people and there diversified need satisfaction level.

JIMS GZB
ACKNOWLEDGEMENT
It has been a great pleasure having gone through as a trainee in RELIGARE

SECURITIES LTD. which is India’s well known and starkly established retail
brokerage firm. I as a trainee got to learn a lot as I had an opportunity to work
with people who are extremely profound.
I would like to express my gratitude to Mr. AMIT GUPTA (Branch

Manager) Religare Security Ltd. KAROL BAGH, New Delhi
for giving an opportunity to elongate my knowledge and providing me a
pragmatic experience.
It would not be fair enough at all if I would not thank Mr. AMIT JOHAR
Relationship Manager (RM) Religare Security Ltd. KAROL
BAGH, New Delhi for providing enough knowledge and making us
acquainted with the job of client servicing. It’s been an amazing experience
working under him.
Last but not the least I would like to thanks each and every member of the
RELIGARE SECURITIES LTD for being so cooperative and helpful

JIMS GZB
Contents
S. No. Topic Page No.
1. Executive Summary…………………5
2. Objectives…………………………...6
3. Company Profile…………………….7
4. Religare Products……………………23
5. Investment …………………………..33
6. Securities…………………………… 35
7. Regulator…………………………….38
8. Participants…………………………..41
9. Primary Market…………………….. 44
10. Secondary Market…………………...52
11. Stock Exchange ……………………..53
12. Stock Trading………………………..58
13. Market Research Analysis…………...63
14. SWOT Analysis……………………..68
15. Online Trading Account……………. 73
16. Conclusion………………………….......85
17. Limitations…………………………......88
18. References………………………… ...90

JIMS GZB
Executive Summary
This project was undertaken to understand the working of Religare Securities

Ltd. During the summer training to acquire new clients for Religare to learn
marketing techniques and competitor analysis of Religare in compression of
major players in the Share trading.
The project reflects information about products and services provided by the
Religare.in to their customers. This also includes requirement and ways to
acquire client acquisition has been explained and the problems faced to handle
the clients.
The information about their account opening charges, products, brokerage,

research report, minimum margin requirement, exposure, etc. are shown in
competitor analysis.
Also I have compared the mutual funds on different parameters such as risk and
returns, facilities, volume of investing money, good promotional schemes,
redemption, and investing time

JIMS GZB
Objectives
• To take an overview of the Indian Stock Market and encapsulate

the various investment avenues available.
• To analyze the Indian Stock Market. How it works. What are the
options available in the Capital Market to invest?
• What is on line trading & how it is different from other trading

of stock market? Benefits & Disadvantages of online trading.
• Also we have compared the equity and online trading on

different parameters such as risk and returns, facilities, volume
of investing money, good promotional schemes, redemption, and
investing time.

JIMS GZB
10185- A, Arya Samaja Road
Karol bagh,New Delhi-110005
Phone No.- 011-45592800-31
Fax No.- 01145592810

JIMS GZB
INTRODUCTION
Visionary – Late Dr. Parvinder

Singh
Religare Securities
Limited was promoted by
Late Dr. Parvinder Singh
with the vision to provide
integrated financial care
driven by the relationship
of trust & confidence.
Dr. Parvinder Singh had

also the vision of creating
a integrated health
delivery system in India
and his dream is now
converting into realty by
Fortis Hospitals and Labs.
Dr. Singh also led

Ranbaxy and made it to
India’s first truly MNC
Pharma company.

JIMS GZB
GROUP PROFILE
India’s largest pharmaceutical Company

-Manufactures & markets
Generics
Branded generic pharmaceuticals
Active pharmaceutical ingredients.
Amongst the top ten generic companies worldwide.
-Started by the promoters of Ranbaxy

-Vision :“ To become an integrated
caring partner for…HEALTH thru
Fortis Healthcare Limited&WEALTH
Fortis Securities Limited .”
-A leading solutions provider in

• Screening
• Diagnosis
• Monitoring of every illness and disease in the
community.
-Aim to provide world class services

JIMS GZB
HISTORY:
RELIGARE Securities Ltd. (RSL) is a wholly owned subsidiary of

RELIGARE Financial Services Ltd. (RFSL), a Company promoted by
Dr.Parvinder Singh, Ex-CMD of Ranbaxy Laboratories Ltd.
The primary focus of Religare Securities Ltd. is to cater to services

in Capital Market Operations to Institutional Investors. The Company is a
member of the National Stock Exchange (NSE) and OTCEI. The growing list of
financial institutions with whom RSL is empanelled as approved Broker is a
reflection of the high levels of services maintained by the Company.
REL operates from seven domestic regional offices, 43 sub-regional offices, and
has a presence in 498* cities and towns controlling 1,837* business locations all
over India.
To make a mark in the global arena, REL acquired UK-based Hichens, Harrison
& Co. in 2008 which was subsequently re-named as Religare Hichens Harrison
PLC ("RHH"). Hichens, Harrison & Co. was incorporated in London in the year
1803 and is believed to be one of the oldest firms of stockbrokers in the City of
London.

JIMS GZB
Pursuant to expansion of REL's business, the company has grown from largely
an equity trading company into a diversified financial services company. With
the addition of RHH the REL group now operates out of multiple global
locations, other than India, (the UK, the USA, Brazil, South Africa, Dubai and
Singapore).
RELIGARE was founded with the vision of providing integrated

financial care driven by the relationship of trust. The bouquet of services offered
by RELIGARE includes Broking (Stocks and Commodities), Depository
Participant Service, Advisory on Mutual Fund Investments and Portfolio
Management Services.
RELIGARE is a pioneer in the concept of partnership to reach

multiple locations in order to effectively service its large base of individual
clients. Besides the reach of RELIGARE, the clients of the company greatly
benefit by its strong research capability, which encompasses fundamentals as
well as technical knowledge.
Religare is a diversified financial services group of India offering a

multitude of investment options. The diverse bouquet of financial services,
which Religare offers, can be broadly clubbed across three key verticals - Retail,
Institutional and Wealth spectrums. The services extend from asset
management, Life Insurance, wealth management to equity broking, commodity
broking, investment banking, lending services, private equity and venture
capital. Religare has also ventured into the alternative investments sphere
through its holistic arts initiative and Film fund. With a view to expand,
diversify and introduce offerings

JIMS GZB
benchmarked against global best practices, Religare operates in the life
insurance space under 'Aegon Religare Life Insurance Company Limited’ and
wealth management under the brand name 'Religare Macquarie Private Wealth'.
RELIGARE GROUP:
RELIGARE in recent years has expanded its reach in health care and financial
services wherein it has multiple specialty hospital and labs which provide health
care services and multiple financial services such as secondary market equity
services, portfolio management services, depository services etc.
RELIGARE financial services group comprises of Religare Securities

Limited, RELIGARE Comdex Limited and RELIGARE Finvest Limited which
provide services in Equity, Commodity and Financial Services business &
Religare Insurance Advisory Ltd.
RELIGARE SECURITIES LIMITED
• Member of National Stock Exchange of India and Bombay Stock

Exchange of India.
• Depository Participant with National Securities Depository Limited
(NSDL) and Central Depository Services Limited (CDSL). A SEBI
approved Portfolio Manager.

JIMS GZB
RSL provides platform to all segments of the investor to leverage the immense
opportunity offered by equity investing in India either on their own or through
managed funds in Portfolio Management.
The ARN No. of the Religare Securities Ltd. is 33764. The ARN No. is
required by to be available with the broker who deals on behalf of investors or
sell the mutual funds of the different companies present in the market.

JIMS GZB
3.3 GROUP STRUCTURE
• Religare AMC Limited
• Asset Management Business

• Portfolio Management
• Religare Finvest Limited
• Lending and Distribution business
• AEGON Religare Life Insurance Co. Ltd.
• Life Insurance Company, JV with Aegon (26%),

Religare (44%), and Bennett & Coleman (30%)
• Religare Insurance Broking Limited
• Life Insurance Broking Business

• Non-Life Insurance Broking Business
• Religare Macquarie Wealth Mgmt. Ltd.

JIMS GZB
• JVwith Macquarie for Wealth management Business
• Religare Arts Initiative Limited
• Business of Art
• Art Gallery
• Art Advisory
• Religare Securities Limited
• Retail Equity Broking

• Online Investment Portal
• Depository Services
• Religare Venture Capital Ltd.
• Private Equity and Investment Manager
• Vistaar Religare Capital Advisors Ltd.
• JV with Vistaar Entertainment

• Ventures for film fund
• India's first ever film fund
• Religare Finance Ltd.
• Capital Market Financing
• Religare Capital Markets Limited

JIMS GZB
• PE and M&A Advisory
• Institutional Broking
• Investment Banking
• Religare - Milestone
• JV with Milestone Capital to manage a healthcare and education

fund.
Infrastructure
JIMS GZB
Offices
The company has offices located at prime locations in Mumbai, New Delhi,
Kolkatta and Chennai. The offices are centrally located to cater to the
requirements of institutional and corporate clients and retails clients, and for
ease of operations due to proximity to stock exchanges and banks. Today, we
have a growing network of 43 sub-regional offices, and has a presence in 498*
cities and towns controlling 1,837* business locations all over India.
RSL….Geographical Spread
Corporate
Office
Regional
Office
Regional
Office
Institutional
Sales
Regd Office
Pioneered the concept of partnership to reach

Regional
multiple locations
Office Regional
Office
Religare has presence in more than 100 locations across the length and breadth
of the country.
NAME OF THE ORGANIZATION:

JIMS GZB
RELIGARE SECURITIES LTD.
Registered Office Address:-

Delhi: D3, P3B, District Centre, Saket,
New Delhi - 110017,
India.
Phone: +91-11-3912-5000
Fax: +91-11-3912-6050
Corporate Office Address: -
Noida: A-3, 4, 5, Sector-125, Noida,

Uttar Pradesh - 201 301,
India.
Phone: +91-0120-339-1000
Mumbai: GYS Infinity, Paranjpe B Scheme,

Subhash Road, Near Garware House,
Vile Parle (E), Mumbai - 400057
Phone: +91-022-6673-7100
Management

JIMS GZB
Religare is led by individuals who are professionals and leaders in every sense
of the word.
Mr. Sunil Godhwani, CEO and Managing Director
► Sunil Godhwani joined the Board of REL in July 2006 and was appointed as CEO
and Managing Director of Religare in April 2007. Has more than 21 years experience
in business
► Also the Chairman & Managing Director of RSL since April 2002
Mr. Anil Saxena, Group Chief Finance Officer
► Anil Saxena joined in August 2001

► With over 16 years of experience in the financial services industry has worked at
Kotak Securities Ltd. as Vice-President
Mr. Shachindra Nath, Group Chief Operating Officer
► Shachindra Nath joined in May 2000

► With over 15 years of experience in the financial services industry, he has worked
at Abhipra Capital Ltd. as a Senior Consultant and Divisional In charge
Mr. Mukesh Manglik, Head, Corporate Affairs
► More than 30 years of experience in the Corporate Sector

► Was the Head of Compliance and Company Secretary at JM Financial Assets
Management and worked with Escorts Group and Hero Group
Mr. Ravi Batra, Vice President and Company Secretary
► Joined REL in January 2007. Has over 11 years of experience as

Company Secretary
► Prior to joining Religare, worked with Varun Beverages Ltd., Himalaya

JIMS GZB
Communications Ltd. and Precision Electronics Ltd.
Mr. Sunil Kumar Garg, Financial Controller
► Joined REL in April 2004. Has over 15 years of experience in financial

services industry
► Prior to joining Religare, worked with Arvind Construction Company Ltd.
Mr. Kamlesh Dangi, Corporate Head – Human Resources
► Has experience of more than 13 years from various organizations of

diverse fields
► Prior to joining Religare, worked with ICICI Bank and was handling Wholesale &
International Banking, Compensation at group level, HR systems and other similar
portfolios. He has also spent 2 years in ICICIUK, setting up the operations for the
bank
Mr. Ashu Madan, National Head, Retail Equity
► Has over 17 years of industry experience in financial services

► Holds a Bachelors in Commerce from Delhi University and prior to joining,
worked at Western India Group as the Asst. Vice-President
► Heads sales and dealing team of 3,439 employees
Mr. Gurpreet Sidana, Head, Internet Trading
► More than 9 years of experience

► Prior to joining RSL, worked as Senior Manager of Business Development at Elite
Stock Management Ltd.
► Heads online trading sales team of 1,390 employees
You can view latest Board of Directors of Religare

Enterprises Limited:

JIMS GZB
.No Name Designation
CEO & Managing Director
1. Mr. Sunil Godhwani
2. Mr. Shivinder Mohan Singh Non Executive Director
3. Mr. Harpal Singh Non Executive Director
4. Mr. Deepak Ramchand Sabnani Independent Director
5. Ms. Sunita Naidoo Independent Director
6. Mr. Padam Bahl Independent Director
7. Mr. R. K. Shetty Alternate to Mr. J. W. Balani
8. Mr. J. W. Balani Independent Director
9. Capt. G. P. S. Bhalla Alternate to Mr. Deepak Sabnani
10. Mr. Malvinder Mohan Singh Non Executive Chairman
ORGANIZATION STRUCTURE

JIMS GZB
CEO & MD
CENTRAL LEADERSHIP AND

MANAGEMENT TEAM
PRODUCT
PRODUCT PRODUCT HEAD PRODUCT HEAD
PRODUCT PRODUCT HEAD INTERNET
HEAD CORPORATE
HEAD PMS HEAD M.F TRADING
COMMODITI FINANCE
INSURANCE YSS
REGIONAL
HEAD
REGIONAL REGIONAL PRGIONAL REGIONAL REGIONALPRODU

REGIONAL
RODUCT PRODUCT HEAD CT HEAD
PRODUCT PRODUCT HEAD INTERNET
PRODUCT HEAD CORPORATE
HEAD PMS HEAD M.F BANKING COMMODITY FINANCE
INSURANCE
ZONAL
HEAD
BRANCH
MANAGE
R
RM RM RM
RM INTERNET
RM DEALER
EQUITY MUTUAL FUNDS INSURANCE TRADING COMMODITIES
Mission and Vision

JIMS GZB
Mission-
To be India's first Multinational providing complete financial services solution

across the globe.
Vision-
Providing integrated financial care driven by the relationship of trust and

confidence.
Business & Operations
RELIGARE facilitates trading in Secondary Market in Equity Trading &

Derivative (Future & Options) Trading through its Corporate Membership of the
premier exchanges of the country namely National Stock Exchange (NSE), The
Stock Exchange, Mumbai (BSE) and Over the Counter Exchange of India
(OTCEI). Religare On-Line Terminals are installed in all the major cities of
Northern India and its trading clients are categorized as Retail Sub-Brokers and
Corporate, NRI's, Bankers & FI's. They provide very competitive brokerage
rates and full transparency in operations.
Business:

JIMS GZB
Over a period of time Religare has recorded a healthy growth rate both in
business volumes and profitability as it is one the major players in this line of
business. The business thrust has been mainly in the development of business
from Financial Institutions, Mutual Funds and Corporate.
Operations:
The operations of the company are broadly organized along the following
functions.
Research & Analysis:

This group is focused on doing daily stock picks and periodical scrip \ segment
specific research. It provides the best of analysis in the industry and is valued by
both our Institutional and Retail clientele.
Marketing:
This group is focused on tracking potential business opportunities and
converting them into business relationships. Evaluating the needs of the clients
and tailoring products to meet their specific requirements helps the company to
build lasting relationships.
A summary of our competitive advantage

(Religare Securities Ltd).
1. Participant on the country’s premier exchange: Religare is a member of
the country’s premier stock exchange – The National Stock Exchange of

India (NSE).

JIMS GZB
2. Clearing membership on Capital & Derivatives segments: It has clearing
memberships on both the Capital Market and Derivatives segment of the

exchange. We are also authorized to trade the retail debt market.
3. Depository Participants with NSDL & CDSL: We are depository
participants with the country’s premier depository service - National

Securities Depository Limited (NSDL), as well as with the only other
depository with a countrywide reach - Central Depository Services Limited.
4. Leading private sector bank as partner: Our banking partners are HDFC
and ICICI Bank – The foremost private sector banks in the country, that have
the most technologically advanced infrastructure in the country, with Internet
banking allowing access to information 24 X 7.
5. Bloomberg Information Services: The world’s two best information
services are Bloomberg LP and Reuters. These are prohibitively expensive

for all but mutual funds and financial institutions to own terminals of, and
subscribe to. We however have two connections to the Bloomberg
Information Service, the premier service; both in Delhi and Mumbai, and
these provide us information ahead of the general public, and at par with the
financial institutions. We have access to breaking news from across the
globe, and across asset classes, and superior research and analysis
capabilities.
6. Prime Office Locations: We have prime office locations in the nation’s
political capital and the business capital – Delhi and Mumbai, in the heart of
the city.
7. Research Capabilities: We have a dedicated team of analysts in our
Bombay office – They provide fundamental analysis of stocks and markets,

which are fundamentally strong, and provide above market returns to

JIMS GZB
investors, but over a slightly longer time frame – Typically 6 months and
above.
8. Technical Analysis: A daily technical newsletter is published by our in-
house technical analyst, who is a recognized leading practitioner of the

science. He has a success rate of over 73%. He tracks the progress of the
calls on a real-time basis, and advises of any change in the profit points or
stop loss levels.
9. All Services under one roof: India has moved to a T+2 settlement system,
where all trades and settled on a rolling basis. However this gives the clients
no time to arrange deliveries to their broker, through a separate depository
participant. Religare, being a trading-clearing member, as well as a
depository participant, allows seamless transfer of securities under the same
roof, with minimum delay, and constant monitoring.
Religare deals with…

(Products)
 EQUTIES…..

JIMS GZB
 MUTUAL FUND
 DERIVATIVES (F & O)
 COMODITIES
 PMS
 WELTH MANAGEMENT
Equity (Shares):
We can say that a Share or Stock is a document issued by a company, which

entitles its holder to be one of the owners of the company. A share is issued by a
company or can be purchased from the stock market.
Mutual Fund:

JIMS GZB
A mutual fund is a type of Investment Company that gathers assets from
investors and collectively invests those assets in stocks, bonds, or money
market instruments. Individuals and institutions invest in a mutual fund by
purchasing shares issued by the fund. It is through these sales of shares that a
mutual fund raises the cash used to invest in its portfolio of stocks, bonds, and
other securities.
Through the collective investments of the mutual fund, each investor shares in
the returns from the fund’s portfolio while benefiting from professional
investment management, diversification, liquidity, and other benefits and
services.
Derivative (F&O)-
Derivatives (Futures & Options) are ideal instruments to protect your portfolio
against risk. You can trade with index movements, hedge and leverage your
portfolio by limiting risk but keeping your upside unlimited
Commodity
The process of economic liberalization in India began in 1991.

As part of this process, several capital market reforms were carried out by the
capital market regulator Securities and Exchange Board of India. One such
measure was to allow trading in equities-based derivatives on stock exchanges
in 2000. This step proved to be a shot in the arm of the capital market and
volumes soared within three years. The success of the capital market reforms
motivated the government and the Forward Market Commission (the
commodities market regulator) to kick off similar reforms in the commodities
market. Thus almost all the commodities were allowed to be traded in the
JIMS GZB
futures market from April 2003. To make trading in commodity futures more
transparent and successful, multi-commodity exchanges at national level were
also conceived and these next generation exchanges were allowed to start
futures trading in commodities on-line. Commodities exchanges have seen a
surge in commodity futures volumes in the last few months. This rise in volumes
has been led by bullion (gold and silver) trading. Today a whole lot of
commodities are available for trading in futures and the list is getting bigger by
the day. No wonder then that the commodity futures market is being viewed as a
significant business segment by many– businessmen, investors, institutions,
brokers, banks etc.
FEATURES OF RELIGARE
Religare.in is the most comprehensive website, which allows you to invest in

shares, mutual funds, derivatives (Future and Option) and other financial
products.

JIMS GZB
1. TRADING IN SHARES
Religare offers you various options while trading in shares
CASH TRADING
This is a delivery based trading system, which is generally done with the
intention of taking delivery of shares
MARGIN TRADING (Delivery)

You can also do an delivery settlement trading up to 4 times the fund available
wherein you take long buy / short sell position in stocks with the intention of
squaring off the position within the same day settlement cycle.
MARGIN TRADING (Intra day)

Trough margin you can do an intra settlement trading up to 4 to 10 times your
available funds, wherein you take long buy/ short sell position in stock with the
intention of squaring off the position within the same day settlement cycle
Margin PLUS will give much higher leverage in your account against your
limits.
BTST
Buy Today Sell Tomorrow (BTST) is a facility that allows you to sell shares
even on 1st and 2nd day after the buy date, without waiting you have the receipt
of shares into your Demat account.

JIMS GZB
CALL TRADE
CALL Trade allows you to call on a local number &trade on the telephone
through our Customer Service Executive.
TRADING ON BSE/NSE:
Through Religare the share can be traded on NSE as well asBSE.
2. TRADE IN DERIVATIVES
FUTURE
Through Religare you can now trade in index and stock futures on the NSE. In
future trading, you take buy/sell index contracts having a longer contract period
of up to 3 months.
Trading in Future is simple during course of contract life; the price moves in
favor, you make profit.
Presently only selected stocks, which meet the criteria on liquidity and volume,
have been enabled for future trading.
OPTION
An option is a contract, which gives the buyer the right to buy or sell shares at a
specific price, on or before a specific date. For this, the buyer has to pay to the
seller some money, which is called premium. There is no obligation on the
buyer to complete the transaction if the price is not favorable to him. To take the
buy/ sell position on index options you have to place certain %age of order value
JIMS GZB
as margin. With options trading, you can leverage on your trading limit by
taking buy/sell positions much more than what you could have taken in cash
segment.
The Buyer of a call option has the right but not obligation to purchase the
underlying Asset at the specific strike price by paying a premium where as the
seller of the Call has the obligation of selling the Underlying Asset at the
specific strike price.
By paying lesser amount of premium, you can create position under OPTIONS
and take advantage of more trading opportunities.
3. INVESTING IN MUTUAL FUND
Religare brings you the same convenience while investing in Mutual Funds as
hassle free and less paperwork investing.
You can now invest in any mutual fund like standard charter MF, Prudential
ICICI MF, Alliance MF, Franklin Templeton MF, Sunderam MF, Birla sun life;

JIMS GZB
HDFC MF, Principal MF, etc are the mutual funds available for investment.
You can invest in mutual funds without the hassles of identity proof. You need
on signature on the mutual fund .You also get on information of performance of
your investment through online current NAV.
PURCHASE
You may invest / purchase prudential ICICI MF, JM MF, ALLIANCE MF,
FRANKLINE TEMPLETON MF, SUNDARAM MF, BIRLA SUN LIFE MF,
HDFC MF and STANDARD CHARTERED MF without hassles of identity
proof.
REDEMPTION
When ever you required your money, you get it easily. For that purpose you put
on signature on the redemption form. You get you’re your money by on –line or
by physical process (cheque).
Systematic investment plan (SIP)

SIP allows you to invest a certain sum of money over a period of time
periodically. Just fill in the investment amount, the period of investment and the
frequency of investing and submit Religare do the rest of your investment
automatically for you.

JIMS GZB
Systematic withdrawal program
This allows you to withdraw certain Sum of money over a period of time
periodically.
Investment Basics
Investment
The money you earn is partly spent and the rest saved for meeting future
expenses. Instead of keeping the savings idle you may like to use savings in
order to get return on it in the future. This is called Investment.

JIMS GZB
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
One of the important reasons why one needs to invest wisely is to meet the cost
of Inflation. Inflation is the rate at which the cost of living increases.
The cost of living is simply what it costs to buy the goods and services you need
to live. Inflation causes money to lose value because it will not buy the same
amount of a good or a service in the future as it does now or did in the past. For
example, if there was a 6% inflation rate for the next 20 years, a Rs.100
purchase today would cost Rs. 321 in 20 years. This is why it is important to
consider inflation as a factor in any long-term investment strategy. Remember to
look at an investment's 'real' rate of return, which is the return after inflation.
The aim of investments should be to provide a return above the inflation rate to
ensure that the investment does not decrease in value. For example, if the annual
inflation rate is 6%, then the investment will need to earn more than 6% to
ensure it increases in value.
VARIOUS OPTIONS AVAILABLE FOR INVESTMENT
One may invest in
 Physical assets like real estate, gold/jewellery, commodities etc. or

JIMS GZB
 Financial assets such as fixed deposits with banks, small saving
instruments with post offices, insurance/ provident/ pension fund etc. or
securities market related instruments like shares, bonds, debentures etc.
Various Short-term financial options available for

investment.
Broadly speaking, savings bank account, money market/liquid funds and fixed
deposits with banks may be considered as short-term financial investment
options:
Savings Bank Account is often the first banking product people use, which
offers low interest (4%-5% p.a.), making them only marginally better than fixed
deposits.
Fixed Deposits with Banks 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.
Various Long-term financial options available for

investment.
Post Office Savings: Post Office Monthly Income Scheme is a low risk
saving instrument, which can be availed through any post office. It provides an
interest rate of 8% per annum, which is paid monthly. Minimum amount, which
can be invested, is Rs. 1,000/- and additional investment in multiples of 1,000/-.
JIMS GZB
Maximum amount is Rs. 3, 00,000/- (if Single) or Rs. 6,00,000/- (if held Jointly)
during a year. It has a maturity period of 6 years. A bonus of 10% is paid at the
time of maturity. Premature withdrawal is permitted if deposit is more than one
year old. A deduction of 5% is levied from the principal amount if withdrawn
prematurely; the 10% bonus is also denied.
Public Provident Fund: A long term savings instrument with a maturity of

15 years and interest payable at 8% per annum compounded annually. A PPF
account can be opened through a nationalized bank at anytime during the year
and is open all through the year for depositing money. Tax benefits can be
availed for the amount invested and interest accrued is tax-free. A withdrawal is
permissible every year from the seventh financial year of the date of opening of
the account and the amount of withdrawal will be limited to 50% of the balance
at credit at the end of the 4th year immediately preceding the year in which the
amount is withdrawn or at the end of the preceding year whichever is lower the
amount of loan if any.
Company Fixed Deposits: These are short-term (six months) to medium-

term (three to five years) borrowings by companies at a fixed rate of interest
which is payable monthly, quarterly, semi-annually or annually. They can also
be cumulative fixed deposits where the entire principal along with the interest is
paid at the end of the loan period. The rate of interest varies between 6-9% per
annum for company FDs. The interest received is after deduction of taxes
.
Bonds: It is a fixed income (debt) instrument issued for a period of more than
one year with the purpose of raising capital. The central or state government,
corporations and similar institutions sell bonds. A bond is generally a promise to

JIMS GZB
repay the principal along with a fixed rate of interest on a specified date, called
the Maturity Date.
Mutual Funds: These are funds operated by an investment company which

raises money from the public and invests in a group of assets (shares, debentures
etc.), in accordance with a stated set of objectives. It is a substitute for those who
are unable to invest directly in equities or debt because of resource, time or
knowledge constraints. Benefits include professional money management,
buying in small amounts and diversification. Mutual fund units are issued and
redeemed by the Fund Management Company based on the fund's net asset
value (NAV), which is determined at the end of each trading session. NAV is
calculated as the value of all the shares held by the fund, minus expenses,
divided by the number of units issued. Mutual Funds are usually long term
investment vehicle though there some categories of mutual funds, such as
money market mutual funds which are short term instruments.
STOCK EXCHANGE
The Securities Contract (Regulation) Act, 1956 [SCRA] defines ‘Stock

Exchange’ as any body of individuals, whether incorporated or not, constituted
for the purpose of assisting, regulating or controlling the business of buying,
selling or dealing in securities. Stock exchange could be a regional stock
exchange whose area of operation/jurisdiction is specified at the time of its

JIMS GZB
recognition or national exchanges, which are permitted to have nationwide
trading since inception. NSE was incorporated as a national stock exchange.
Equity’/Share
Total equity capital of a company is divided into equal units of small
denominations, each called a share. For example, in a company the total equity
capital of Rs 2,00,00,000 is divided into 20,00,000 units of Rs 10 each. Each
such unit of Rs 10 is called a Share. Thus, the company then is said to have
20,00,000 equity shares of Rs 10 each. The holders of such shares are members
of the company and have voting rights.
Equity Market
In finance a share is a unit of account for various financial instruments
including stocks, mutual funds, limited partnerships, and REIT's. In British
English, the usage of the word share alone to refer solely to stocks is so common
that it almost replaces the word stock itself.
In simple Words, a share or stock is a document issued by a company, which

entitles its holder to be one of the owners of the company. A share is issued by a
company or can be purchased from the stock market.
By owning a share you can earn a portion and selling shares you get capital
gain. So, your return is the dividend plus the capital gain. However, you also run
a risk of making a capital loss if you have sold the share at a price below your
buying price
Trade in shares
Every transaction in the stock exchange is carried out through licensed members
called brokers.
JIMS GZB
To trade in shares, you have to approach a broker However, since most stock
exchange brokers deal in very high volumes, they generally do not entertain
small investors. These brokers have a network of sub-brokers who provide them
with orders.
The general investors should identify a sub-broker for regular trading in shares
and place his order for purchase and sale through the sub-broker. The sub/broker
will transmit the order to his broker who will then execute it.
In equity market SEBI is actively participating without them equity market can’t
control so it necessary to know about SEBI.
Index
An Index shows how a specified portfolio of share prices is moving in order to

give an indication of market trends. It is a basket of securities and the average
price movement of the basket of securities indicates the index movement,
whether upwards or downwards.

JIMS GZB
Depository
A depository is like a bank wherein the deposits are securities (viz. shares,
debentures, bonds, government securities, units etc.) in electronic form.
Dematerialization
Dematerialization is the process by which physical certificates of an investor are

converted to an equivalent number of securities in electronic form and credited
to the investor’s account with his Depository Participant (DP).
SECURITIES
Securities:
The definition of ‘Securities’ as per the Securities Contracts Regulation Act
(SCRA), 1956, includes instruments such as shares, bonds, scrips, stocks or
other marketable securities of similar nature in or of any incorporate company or
body corporate, government securities, derivatives of securities, units of
collective investment scheme, interest and rights in securities, security receipt or
any other instruments so declared by the Central Government.

JIMS GZB
Function of Securities Market:
Securities Markets is a place where buyers and sellers of securities can enter into
transactions to purchase and sell shares, bonds, debentures etc. Further, it
performs an important role of enabling corporate, entrepreneurs to raise
resources for their companies and business ventures through public issues.
Transfer of resources from those having idle resources (investors) to others who
have a need for them (corporate) is most efficiently achieved through the
securities market. Stated formally, securities markets provide channels for
reallocation of savings to investments and entrepreneurship. Savings are linked
to investments by a variety of intermediaries, through a range of financial
products, called ‘Securities’.
REGULATOR
Why does Securities Market need Regulators?

The absence of conditions of perfect competition in the securities market makes
the role of the Regulator extremely important. The regulator ensures that the
market participants behave in a desired manner so that securities market
continues to be a major source of finance for corporate and government and the
interest of investors are protected.
Who regulates the Securities Market?

JIMS GZB
The responsibility for regulating the securities market is shared by Department
of Economic Affairs (DEA), Department of Company Affairs (DCA), Reserve
Bank of India (RBI) and Securities and Exchange Board of India (SEBI)
.
SECURITY AND EXCHANGE BOARD OF INDIA
(SEBI)
The Securities and Exchange Board of India (SEBI) is the regulatory authority
in India established under Section 3 of SEBI Act, 1992. SEBI Act, 1992
provides for establishment of SEBI with statutory powers for
 Protecting the interests of investors in securities
 Promoting the development of the securities market and
 Registering and regulating the working of stock brokers, sub–brokers
etc.
 Promoting and regulating self-regulatory organizations
 Prohibiting fraudulent and unfair trade practices
SEBI has power for:
• Regulating the business in stock exchange and other securities market;
• Registering and regulating the working of stock brokers sub- brokers,
share transfer agents, bankers to an issue, trustees of trust deeds, registers
to an issue, merchant bankers, underwriters, portfolio manager,
investment advisers and such other intermediaries who may be associated
with securities markets in any manners;
• Registering and regulating the working of depositaries, participants,
custodians of securities, foreign institutional investors, credit rating
agencies and such other intermediaries as SEBI may by notification,
specify in this behalf;

JIMS GZB
• Registering and regulating the working of venture capital funds and
collective investment schemes including mutual funds;
• Promoting and regulating self-regulatory organizations;
• Prohibiting fraudulent and unfair trade practices related to securities
markets;
• Promoting investor’s education and training of intermediaries securities
markets;
• Prohibiting insider trading in securities;
• Regulating substantial acquisition of shares and take-over of companies;
• Calling for information from, undertaking inspection, conducting
inquiries and audits of the stock exchanges, mutual and other persons
associated with the securities market;
• Conducting research for the above purpose.
• Calling from or furnishing to any such agencies, as may be specified by
SEBI, such information as may be considered necessary by it for the
efficient discharge of its functions.
PARTICIPANTS
Participants in the Securities Market:
The securities market essentially has three categories of participants, namely, the
issuers of securities, investors in securities and the intermediaries, such as
merchant bankers, brokers etc. While the corporate and government raise
resources from the securities market to meet their obligations, it is households
that invest their savings in the securities market.
Is it necessary to transact through an intermediary?

JIMS GZB
It is advisable to conduct transactions through an intermediary. For example you
need to transact through a trading member of a stock exchange if you intend to
buy or sell any security on stock exchanges. You need to maintain an account
with a depository if you intend to hold securities in demat form.
You need to deposit money with a banker to an issue if you are subscribing to
public issues. You get guidance if you are transacting through an intermediary.
Chose a SEBI registered intermediary, as he is accountable for its activities. The
list of registered intermediaries is available with exchanges, industry
associations etc.
DEPOSITORY PARTICIPATION
• A depository is an organization form to provide electronic depository
facilities for securities trade. Securities are then held in the electronic
form through the medium of participants (DPs). The national Securities
Depository Limited (NSDL) is the first Depository in India. The function
of NSDL is regulated by the SEBI.
• The depository is not just another custodian. The depository can legally
transfer beneficial ownership. The main objective of depository is to
reduce settlement risk by minimizing paperwork involved in trading,
settling and transferring securities.

JIMS GZB
• To utilize the services offered by a depository, you must open an account
with the depository through a DP. The DP’s are the link between the
shareholders, the company and NSDL.
• Depending upon the DP. There may or may not be an opening account
fees towards transaction and custody.
• Banks, financial institutions, custodians and stockbrokers can becomeDPs
subject to their meeting certain requirements prescribed by NSDL and
SEBI. NSDL publishes the list of DPs registered with them, from time to
time.
• The DP will provide you with a passbook or statement of account
periodically inform you on your holdings.
• You can even have a zero balance in your account.
• If you loose your statement of account inform the DP and obtain a
duplicate.
• If holdings in the statement are incorrect, approach the DP for
clarification.
• If you receive an incorrect dividend amount, contact the company or
registrar.
Main depository participants

1. NSDL
2. CSDL
1. NATIONAL SECURITIES DEPOSITORY LTD (NSDL)
In order to solve the problems associated with trading securities, NSE joined
hand with the Industrial Development Bank of India (IDBI) and the Unit
Trust of India (UTI) to promote dematerizalition of securities.

JIMS GZB
NSDL, commenced operations in November 1996 and has since established a
national infrastructure of international standard to handle trading and
settlement in dematerialized form and thus completely eliminated the risk to
investors associated with fake paper.
CENTRAL DEPOSITOEY SERVICES LTD (CSDL)
The Kolkata Stock Exchange Association Limited, Bank Of India HDFC Bank
Limited CDSL is another Depository after NSDL. Its promoter are Bombay
Stock Exchange,, Standard chartered Bank, State Bank of India Bank Of Baroda
Union Bank Of India, Bank Of Maharastra Centurion Bank etc.
As on 30 June 2001 CDSL has signed agreement with 3297 companies. Of these
3528 are available for Demat services. CDSL has 160 DPs offering Depository
services in 78 cities across 147 locations in the country.
Segments of Securities Market

The securities market has two interdependent segments: the primary (new
issues) market and the secondary market. The primary market provides the
channel for sale of new securities while the secondary market deals in securities
previously issued.
1. PRIMARY MARKET
2. SECONDARY MARKET

JIMS GZB
1. PRIMARY MARKET
Role of the Primary Market
The primary market provides the channel for sale of new securities. Primary
market provides opportunity to issuers of securities; Government as well as
corporate, to raise resources to meet their requirements of investment and/or
discharge some obligation.
They may issue the securities at face value, or at a discount/premium and these
securities may take a variety of forms such as equity, debt etc. They may issue
the securities in domestic market and/or international market.
Face Value of a share/debenture
The nominal or stated amount (in Rs.) assigned to a security by the issuer. For
shares, it is the original cost of the stock shown on the certificate; for bonds, it is
the amount paid to the holder at maturity. Also known as par value or simply
par. For an equity share, the face value is usually a very small amount (Rs. 5,
Rs. 10) and does not have much bearing on the price of the share, which may
quote higher in the market, at Rs. 100 or Rs. 1000 or any other price. For a debt
security, face value is the amount repaid to the investor when the bond matures
(usually, Government securities and corporate bonds have a face value of Rs.
100). The price at which the security trades depends on the fluctuations in the
interest rates in the economy.
JIMS GZB
Premium and Discount in a Security Market
Securities are generally issued in denominations of 5, 10 or 100. This is known

as the Face Value or Par Value of the security as discussed earlier. When a
security is sold above its face value, it is said to be issued at a Premium and if it
is sold at less than its face value, then it is said to be issued at a Discount.
ISSUE OF SHARES
Why do companies need to issue shares to the public?
Most companies are usually started privately by their promoter(s). However, the
promoters’ capital and the borrowings from banks and financial institutions may
not be sufficient for setting up or running the business over a long term. So
companies invite the public to contribute towards the equity and issue shares to
individual investors. The way to invite share capital from the public is through a
‘Public Issue’. Simply stated, a public issue is an offer to the public to subscribe
to the share capital of a company. Once this is done, the company allots shares
to the applicants as per the prescribed rules and regulations laid down by SEBI.

JIMS GZB
Different kinds of issues
Primarily, issues can be classified as a Public, Rights or Preferential issues (also

known as private placements). While public and rights issues involve a detailed
procedure, private placements or preferential issues are relatively simpler. The
classification of issues is illustrated below:
• Initial Public Offering (IPO) is when an unlisted company makes

either a fresh issue of securities or an offer for sale of its existing
securities or both for the first time to the public. This paves way for listing
and trading of the issuer’s securities.
• A follow on public offering (Further Issue) is when an already

listed company makes either a fresh issue of securities to the public or an
offer for sale to the public, through an offer document.
• Rights Issue is when a listed company which proposes to issue fresh

securities to its existing shareholders as on a record date. The rights are
normally offered in a particular ratio to the number of securities held prior
to the issue. This route is best suited for companies who would like to
raise capital without diluting stake of its existing shareholders.

JIMS GZB
• A Preferential issue is an issue of shares or of convertible securities
by listed companies to a select group of persons under Section 81 of the
Companies Act, 1956 which is neither a rights issue nor a public issue.
This is a faster way for a company to raise equity capital. The issuer
company has to comply with the Companies Act and the requirements
contained in the Chapter pertaining to preferential allotment in SEBI
guidelines which inter-alia include pricing, disclosures in notice etc.
Issue price

JIMS GZB
The price at which a company's shares are offered initially in the primary market
is called as the Issue price. When they begin to be traded, the market price may
be above or below the issue price.
Market Capitalization
The market value of a quoted company, which is calculated by multiplying its

current share price (market price) by the number of shares in issue, is called as
market capitalization. E.g. Company A has 120 million shares in issue. The
current market price is Rs. 100. The market capitalization of company A is Rs.
12000 million.
Initial Public Offer (IPO)
An Initial Public Offer (IPO) is the selling of securities to the public in the
primary market. It is when an unlisted company makes either a fresh issue of
securities or an offer for sale of its existing securities or both for the first time to
the public. This paves way for listing and trading of the issuer’s securities. The
sale of securities can be either through book building or through normal public
issue.
Who decides the price of an issue?

JIMS GZB
Indian primary market ushered in an era of free pricing in 1992. Following this,
the guidelines have provided that the issuer in consultation with Merchant
Banker shall decide the price. There is no price formula stipulated by SEBI.
SEBI does not play any role in price fixation. The company and merchant
banker are however required to give full disclosures of the parameters which
they had considered while deciding the issue price. There are two types of
issues, one where company and Lead Merchant Banker fix a price (called fixed
price) and other, where the company and the Lead Manager (LM) stipulate a
floor price or a price band and leave it to market forces to determine the final
price (price discovery through book building process).
How does one know if shares are allotted in an IPO/offer

for sale? What is the timeframe for getting refund if shares
not allotted?
As per SEBI guidelines, the Basis of Allotment should be completed with 15
days from the issue close date. As soon as the basis of allotment is completed,
within 2 working days the details of credit to demat account / allotment advice
and dispatch of refund order needs to be completed. So an investor should know
in about 15 days time from the closure of issue, whether shares are allotted to
him or not.
Does NSE provide any facility for IPO?

Yes. NSE’s electronic trading network spans across the country providing
access to investors in remote areas. NSE decided to offer this infrastructure for
conducting online IPOs through the Book Building process. NSE operates a
fully automated screen based bidding system called NEAT IPO that enables
trading members to enter bids directly from their offices through a sophisticated

JIMS GZB
telecommunication network. Book Building through the NSE system offers
several advantages:
• The NSE system offers a nation wide bidding facility in securities
• It provide a fair, efficient & transparent method for collecting bids using
the latest electronic trading systems
• Costs involved in the issue are far less than those in a normal IPO
• The system reduces the time taken for completion of the issue process
The IPO market timings are from 10.00 a.m. to 3.00 p.m. On the last day of the
IPO, the session timings can be further extended on specific request by the Book
Running Lead Manager.
What is ‘Lock-in’?
‘Lock-in’ indicates a freeze on the sale of shares for a certain period of time.
SEBI guidelines have stipulated lock-in requirements on shares of promoters
mainly to ensure that the promoters or main persons, who are controlling the
company, shall continue to hold some minimum percentage in the company after
the public issue.
SEBI’s Role in an Issue
Any company making a public issue or a listed company making a rights issue
of value of more than Rs 50 lakes is required to file a draft offer document with
SEBI for its observations. The company can proceed further on the issue only
after getting observations from SEBI. The validity period of SEBI’s observation

JIMS GZB
letter is three months only i.e. the company has to open its issue within three
months period.
SECONDARY MARKET
Secondary market refers to a market where securities are traded after being
initially offered to the public in the primary market and/or listed on the Stock
Exchange. Majority of the trading is done in the secondary market.
Secondary market comprises of equity markets and the debt markets.
Role of the Secondary Market
For the general investor, the secondary market provides an efficient platform for
trading of his securities. For the management of the company,
Secondary equity markets serve as a monitoring and control conduit—by
facilitating value-enhancing control activities, enabling implementation of
incentive-based management contracts, and aggregating information (via price
discovery) that guides management decisions.

JIMS GZB
Difference between the Primary Market and the
Secondary Market
In the primary market, securities are offered to public for subscription for the
purpose of raising capital or fund. Secondary market is an equity trading venue
in which already existing/pre-issued securities are traded among investors.
Secondary market could be either auction or dealer market. While stock
exchange is the part of an auction market, Over-the-Counter (OTC) is
a part of the dealer market.
STOCK EXCHANGE
Role of a Stock Exchange in buying and selling shares
The stock exchanges in India, under the overall supervision of the regulatory
authority, the Securities and Exchange Board of India (SEBI), provide a trading
platform, where buyers and sellers can meet to transact in securities. The trading
platform provided by NSE is an electronic one and there is no need for buyers
and sellers to meet at a physical location to trade. They can trade through the
computerized trading screens available with the NSE trading members or the
internet based trading facility provided by the trading members of NSE.
Stock exchanges in India

JIMS GZB
Currently, two stock exchanges in India, the National Stock Exchange (NSE)
and Bombay Stock Exchange (BSE)
1.NATIONAL STOCK EXCHANGE (NSE)
The
National Stock Exchange of India Ltd. (NSE), set up in the year 1993,
is today the largest stock exchange in India and a preferred exchange for trading
in equity, debt and derivatives instruments by investors. NSE has set up a

JIMS GZB
sophisticated electronic trading, clearing and settlement platform and its
infrastructure serves as a role model for the securities industry. The standards set
by NSE in terms of market practices; products and technology have become
industry benchmarks and are being replicated by many other market
participants. It provides a screen-based automated trading system with a high
degree of transparency and equal access to investors irrespective of geographical
location.
The high level of information dissemination through the on-line system has
helped in integrating retail investors across the nation. The exchange has a
network in more than 43 sub-regional offices, and has a presence in 498* cities
and towns controlling 1,837* business locations all over India.
telecommunication network comprising of over 2500 VSATs. NSE has around
850 trading members and provides trading in over 1000 equity shares and 2500
debt securities. Besides this, NSE provides trading in various derivatives
products such as index futures, index options, stock futures, stock options and
interest rate futures.
At NSE, it has always been our endeavor to continuously upgrade the skills and
proficiency of the Indian investor. Since, financially literate investors are the
backbone of the securities market, knowledge and awareness about the securities
market is of the foremost concern to us, starting with the most basic of
information being made available as the first step.
This booklet has therefore been prepared for those of you who are keen to
acquire some basic but key information about the stock markets as an initial step
JIMS GZB
towards becoming a more informed investor. We hope this booklet will act as a
means of satisfying some of your initial queries on the stock markets.
2.BOMBAY STOCK EXCHANGE (BSE)
Bombay Stock Exchange Limited is the oldest stock exchange in Asia with a
rich heritage. Popularly known as "BSE", it was established as "The Native
Share & Stock Brokers Association" in 1875. It is the first stock exchange in the
country to obtain permanent recognition in 1956 from the Government of India
under the Securities Contracts (Regulation) Act, 1956.The Exchange's pivotal
JIMS GZB
and pre-eminent role in the development of the Indian capital market is widely
recognized and its index, SENSEX, is tracked worldwide. Earlier an Association
of Persons (AOP), the Exchange is now a demutualised and corporatised entity
incorporated under the provisions of the Companies Act, 1956, pursuant to the
BSE(Corporatisation and Demutualisation) Scheme, 2005 notified by the
Securities and Exchange Board of India (SEBI).
The BSE Sensex or Bombay Stock Exchange Sensitive Index is a value-

weighted index composed of 30 stocks with the base April 1979 = 100. It
consists of the 30 largest and most actively traded stocks, representative of
various sectors, on the Bombay Stock Exchange. These companies account for
around one-fifth of the market capitalization of the BSE.
The base value of the Sensex is 100 on April 1, 1979 and the base year of BSE-
SENSEX is 1978-79.
At irregular intervals, the Bombay Stock Exchange (BSE) authorities review and
modify its composition to make sure it reflects current market conditions.
The abbreviated form "Sensex" was coined by Deepak Mohoni around 1990
while writing market analysis columns for some of the business newspapers and
magazines. It gained popularity over the next year or two.
The stock market has grown by over ten times from June 1990 to today. Using
information from April 1979 onwards, the long-run rate of return on the BSE
Sensex can be estimated to be 0.52% per week (continuously compounded) with
a standard deviation of 3.67%. This translates to 27% per annum, which
translates to roughly 18% per annum after compensating for inflation.

JIMS GZB
STOCK TRADING
Screen Based Trading
The trading on stock exchanges in India used to take place through open outcry
without use of information technology for immediate matching or recording of
trades. This was time consuming and inefficient. This imposed limits on trading
volumes and efficiency. In order to provide efficiency, liquidity and
transparency, NSE introduced a nationwide, on-line, fully automated screen
based trading system (SBTS) where a member can punch into the computer the
quantities of a security and the price at which he would like to transact, and the
transaction is executed as soon as a matching sale or buy order from a counter
party is found.
NEAT
NSE is the first exchange in the world to use satellite communication technology
for trading. Its trading system, called National Exchange for Automated Trading
(NEAT), is a state of-the-art client server based application. At the server end all
trading information is stored in an in memory database to achieve minimum

JIMS GZB
response time and maximum system availability for users. It has uptime record
of 99.7%. For all trades entered into NEAT system, there is uniform response
time of less than one second.
Place orders with the broker

You may go to the broker’s office or place an order on the phone/internet or as
defined in the Model Agreement, which every client needs to enter into with his
or her broker.
How does an investor get access to internet based trading

facility?
There are many brokers of the NSE who provide internet based trading facility
to their clients. Internet based trading enables an investor to buy/sell securities
through internet which can be accessed from a computer at the investor’s
residence or anywhere else where the client can access the internet. Investors
need to get in touch with an NSE broker providing this service to avail of
internet based trading facility.
Contract Note
Contract Note is a confirmation of trades done on a particular day on behalf of

the client by a trading member. It imposes a legally enforceable relationship
between the client and the trading member with respect to purchase/sale and
settlement of trades. It also helps to settle disputes/claims between the investor

JIMS GZB
and the trading member. It is a prerequisite for filing a complaint or arbitration
proceeding against the trading member in case of a dispute. A valid contract
note should be in the prescribed form, contain the details of trades, stamped with
requisite value and duly signed by the authorized signatory. Contract notes are
kept in duplicate, the trading member and the client should keep one copy each.
After verifying the details contained therein, the client keeps one copy and
returns the second copy to the trading member duly acknowledged by him.
Contract note issued by the stock broker

A broker has to issue a contract note to clients for all transactions in the form
specified by the stock exchange. The contract note inter-alia should have
following:
• Name, address and SEBI Registration number of the Member broker.
• Name of partner/proprietor/Authorized Signatory.
• Dealing Office Address/Tel. No./Fax no., Code number of the member
given by the Exchange.
• Contract number, date of issue of contract note, settlement number and
time period for settlement.
• Constituent (Client) name/Code Number.
• Order number and order time corresponding to the trades.
• Trade number and Trade time.
• Quantity and kind of Security bought/sold by the client.
• Brokerage and Purchase/Sale rate.
• Service tax rates, Securities Transaction Tax and any other charges levied
by the broker.
• Appropriate stamps have to be affixed on the contract note or it is
mentioned that the consolidated stamp duty is paid.
• Signature of the Stock broker/Authorized Signatory.

JIMS GZB
Why should one trade on a recognized stock exchange only
for buying/selling shares?
An investor does not get any protection if he trades outside a stock exchange.
Trading at the exchange offers investors the best prices prevailing at the time in
the market, lack of any counter-party risk which is assumed by the clearing
corporation, access to investor grievance and redressed mechanism of stock
exchanges, protection up to a prescribed limit, from the Investor Protection Fund
etc.
How to know if the broker or sub broker is registered?
One can confirm it by verifying the registration certificate issued by SEBI. A

broker's registration number begins with the letters ‘INB’ and that of a sub
broker with the letters ‘INS’.
Precautions must one take before investing in the stock

markets
Here are some useful pointers to bear in mind before you invest in the markets:
• Make sure your broker is registered with SEBI and the exchanges and do
not deal with unregistered intermediaries.

JIMS GZB
• Ensure that you receive contract notes for all your transactions from your
broker within one working day of execution of the trades.
• All investments carry risk of some kind. Investors should always know
the risk that they are taking and invest in a manner that matches their risk
tolerance.
• Do not be misled by market rumours, luring advertisement or ‘hot tips’ of
the day.
• Take informed decisions by studying the fundamentals of the company.
Find out the business the company is into, its future prospects, quality of
management, past track record etc Sources of knowing about a company
are through annual reports, economic magazines, databases available with
vendors or your financial advisor.
• If you’re financial advisor or broker advises you to invest in a company
you have never heard of, be cautious. Spend some time checking out
about the company before investing.
• Do not be attracted by announcements of fantastic results/news reports,
about a company. Do your own research before investing in any stock.
• Do not be attracted to stocks based on what an internet website promotes,
unless you have done adequate study of the company.
• Investing in very low priced stocks or what are known as penny stocks
does not guarantee high returns.
• Be cautious about stocks which show a sudden spurt in price or trading
activity.
• Any advice or tip that claims that there are huge returns expected,
especially for acting quickly, may be risky and may to lead to losing
some, most, or all of your money.

JIMS GZB
COMPETATORS OF RELIGARE
• ICICI DIRECT
• INDIA INFOLOINE SECURITY PVT. LTD.
• HDFC SECURITIES
• INDIA BULLS
• KOTAK SECURITIES
• RELIANCE MONEY
• SHARE KHAN SECURITIES

JIMS GZB
• MOTILAL OSWAL
• ANAND RATHI SECURITIES
• HEM SECURITIES
• ANGEL BROKING

JIMS GZB
COMPARATIVE STUDY
BETWEEN
RELIGARE & OTHER FIRMS

JIMS GZB
MARKET SHARE OF COMPANIES:
INTRODUCTION TO RESEARCH METHODOLOGY:
Research Methodology comprises defining and redefining the problem,

formulating hypothesis or suggesting solution, collecting, organizing and

JIMS GZB
evaluating the data, making deduction and reaching to conclusions and
determines whether the formulated hypothesis is right and wrong.
Research Methodology is a way to solve research in study and solving research

problems along with logic behind them are defined through research
methodology. Thus while talking about research methodologies we are not only
talking of research methods but also consider the logic behind the methods.
During my project, I collected data through various sources primary &
secondary.
OBJECTIVES OF RESEARCH METHODOLOGY:
• To analyze the investing behavior towards commodity and equity market.

• To study the equity and commodity market
• To compare equity and commodity market, and list advantages and
disadvantages
• List all the implicit and explicit causes divergence towards equity market
rather than commodity
• To recommend how company can increase its clientele base.
• To correlate amount invested with risk
4.2 RESEARCH DESIGN:
A research design is the master plan or model for the conduct of formal
investigation and survey. It is a specification of methods and procedures for

JIMS GZB
acquiring the information needs for solving the problem. It decides the source
of information and methods for gathering the data. A questionnaire and other
forms are tested to use the collection of data. A sampling design is to be
selected.
Good research design ensures that the information obtained is relevant to the
research question and that it was collected by objectives. Since research
design is simply the framework of plan for a study, it should be used as a guide
in collecting and analyzing the data. It is a blueprint that is followed in
completing the research study.
Our approach to research is descriptive. The major objective of the descriptive
research is to describe something – usually market features or functions. It
requires a clear specification of the who, what, when, where, why, & the way
(the 6 Ws) of the research. Our 6 Ws are:
• Who:
Who should be considered for the research?
• What:
What is the investment pattern of the respondent in equity or
commodity?
• When:
When should the information be obtained from the respondent?
• Where:
Where the respondents should be contacted to obtain the required

Information?

JIMS GZB
• Why:
Why are we obtaining the information from the respondents?
• Way:
In what way we are going to obtain the information from the respondents?
4.3 SOURCES OF DATA COLLECTION:

In this research, I have used two types of data.
• Primary Source.
• Secondary Source.
JIMS GZB
Primary source includes:-
• Discussion with branch manager
• Discussion with experts
• Discussion with investors of the firm.
• Live trading in the market
• Data collected from questionnaire.
Secondary source includes:-
• Various books related to stock market
• Books related to Financial Management
• Web sites were used as the vital information source
• References given by Relationship Manager
4.4 LIMITATIONS OF STUDY:
• To understand the overall working of share market, the period of 45

days is not enough.

JIMS GZB
• Moreover, very few investor and agents have a detail knowledge of
the study.
• The study was conducted in New Delhi only, which restricted the
scope of the study.
• The data provided by the investor and the agents can’t be held true
as 100% correct.
• The study was conducted to understand with respect to Risk

involved in broking firm and investors, which is a part of the equity
share market.
Market Research Analysis

Preference of investment

JIMS GZB
FINANCIAL NO. OF INVESTORS
INSTRUMENTS
SHARES 74
MUTUAL FUNDS 16
BONDS 08
DERIVATIVES 02
8% 2%
16%
74%
Interpretation: This shows that although the mutual fund market is on rise
yet, the most favored investment continues to be in the Share Market. So, with a
more transparent system, investment in the Stock Market can definitely be
increased.
Awareness of online share trading

JIMS GZB
9%
Yes -- 91%
No -- 9%
91%
Interpretation: With the increase in cyber education, the awareness towards

online share trading has increased by leaps and bounds. This awareness is
expected to increase further with the increase in internet education.
Awareness of Religare.in as a Brand
37%
Yes -- 63%
No -- 37%
63%
Interpretation: This pie-chart shows that Religare has reasonable amount of

Brand awareness in terms of a premier Retail Stock Broking Company. This
brand image should be further levered by the company to increase its market
share over its competitors.

JIMS GZB
Awareness of Religare Facilities
20%
Yes -- 20%
No -- 80%
80%
Interpretation: although there is sufficiently high brand equity among the

target audience yet, it is to be noted that the customers are not aware of the
facilities provided by the company meaning thereby, that the company should
concentrate more towards promotional tools and increase its focus on product
awareness rather than brand awareness.
DEMAT Account Market

JIMS GZB
18% 20%
Religare-20%
Sharekhan-22%
ICICI Direct-15%
India Bulls-25%
25% 22% Others-18%
15%
Interpretation: This shows that even with sufficiently high Brand Equity,
Religare ranks only 3rd amongst the Demat Account providers. This is probably
because of two main reasons.
1. Lack of promotion and unfocussed approach towards Product awareness.
2. Non – transparent marketing policies of the company.
Hence, the company should crystallize its products and should indulge in
aggressive marketing and promotion.
Satisfaction Level among Customers with Current Broker

JIMS GZB
8%
Yes -- 92%
No -- 8%
92%
Interpretation: This pie-chart accentuates the fact that Strategic Marketing,

today, has gone beyond only meeting sales targets and generating profit
volumes. It shows that all the competitors are striving hard not only to woo the
customer but also to make them Brand loyal by generating customer satisfaction.
FREQUENCY OF TRADING:
FREQUENCY OF TRADING INVESTORS

DAILY 51%
WEEKLY 16%
MONTHLY 16%
EVERY SEASON 04%
OCCASSIONALY 06%
RARELY 07%

JIMS GZB
Interpretation:
In spite of the huge returns that the share market promises, we see that there is
still a dearth of active traders and investors. This is because of the non –
transparent structure of the Indian share market and the skepticism of the target
audience that is generated by the volatility of the stock market. It requires
efficient bureaucratic intervention on the part of the Government.
Percentage of Earning Invested In Share Trading
7% 2%
16%
Upto 10%--71%
Upto 25%--19%
Upto 50%--7%
Above 50%--3%
75%

JIMS GZB
Interpretation: This shows that people invest only up to 10% of their
earnings in the stock market, again reiterating the volatile and non-transparent
structure of the Indian stock market. Hence, effective and efficient steps should
be undertaken to woo the customers to investment more in the lucrative stock
market.
SWOT ANALYSIS

JIMS GZB
A SWOT analysis focuses on the internal and external environments,
examining strengths and weaknesses in the internal environment and
opportunities and threats in the external environment.
STRENGTHS
Services
As products of Religare is a extremely innovative product with very less cost.

Services like online trading facility, institutional and domestic broking,
customized research reports with almost 80% efficiency etc give Religare an
edge over its competitors. Religare provides other support services that
make retail investors more confident and assured with their trading. SMS
alerts (allowing traders and investors to make the most of the available
opportunities), Softer, intangible features like imagery, equity driving
preference. Through efficient trading processes Investors can place their
orders directly on the Internet, do all the information seeking and basically
own the investing process.
Distribution Network
We have a growing network of 150 branches and more than 300 business
partners spread across 180 cities in India and a fully operational international
office at London
OUR target is to have 350 branches and 1000 business partners in 300 cities of
India and more than 7 International offices by the end of 2006.

JIMS GZB
Unlike a traditional broking firm, Religare group works on the philosophy of
partnering for wealth creation.
Products
Company’s product line is quite flexible in the sense that there is a product for
every kind of investors. Also all the products cover all the loop holes of all the
products offered by the other competitors like low cost, user friendly online
trading services etc.
WEAKNESS
Branding
Though the company has efficient products but large part of investment
interested population does not know the company. The most basic expectation
for a trader or investor when one begins trading is that one must get timely
delivery of shares and proceeds from sale of shares. Also ones cash balances
with the broker must be safe and secure. Though this confidence in the broker
comes with time and experience, good and transparent practices also play a
major role in imbibing confidence in traders
Competition from Banks
Most of the banks due to good branding have the faith of the customers of their
banking database. So they enjoy the liberty of huge database and customers find
it more reliable to trade there rather than with a unknown broker. Also banks
like HDFC Bank and ICICI Bank have the advantage of linking the trading
accounts of their customers to saving accounts. This makes trading easier, and at
the same time a trader withdraws exactly as much money from his account as is
needed to complete the trade. Similarly sales proceeds are credited directly to
saving account.
JIMS GZB
OPPORTUNITIES
The external environment analysis may reveal certain new opportunities for
profit and growth.
Ever-Increasing Market
After the NSE brought the screen based trading system stock markets are now
more secured which has attracted lot of retail investors and the demand is
increasing day by day. This has resulted in improved liquidity and heavy
volumes on transactions. Religare is one of the early entrants here. As to how
much it will roar and how swift it can swoop on the market, the future alone can
answer such queries. Religare has been a mega player and is known for being a
mover of stocks. It is also known for putting big deals through and enjoys good
networking with the FIIs. It has been dynamic enough to move with the times
and capture the opportunities that the market throws up from time to time.
Improving Technology
In country like India technology is always improving which gives the company a
chance to keep on improving their product with time whereas for the small
players like local brokers it will be difficult to keep the same pace as the
changing technology. Also with SEBI lying down some strict guidelines small
brokers are finding it harder to retain the customers with no research department
and small capital. The traditional business model is highly dependent on a large
network of sub-brokers, and many established players may not have systems
(technology, customer service, etc.) capable of directly servicing so many retail
customers.

JIMS GZB
Unfulfilled Needs Of The Customers
With so many competitors offering their products in the market but no one is
able to completely satisfy the customers. Some have the problem of lack of
information or some were scared of volatility of the stock markets. Religare has
the opportunity to tap this unsatisfied set of customers and to make hold in the
market. The Internet serves to break all barriers to information, as it offers an
extremely hassle-free investing platform. And, Religare hopes to fully utilize
and capitalize on this platform. This original idea by Religare itself was born out
of the consumer's need for a more transparent, easy to understand and
convenient option of investing in stocks.
Education Level
The education level in the country is improving year after year as far as
technology goes. With that the understanding of the stock market is also
increasing and a lot of retail investors are steeping in the markets which are
being shown by increasing volumes, transactions and indices.
THREATS
New Competitors
A lot of new competitors are trying to enter the market in this bullish run to taste
the flavor of this cherry. This is creating a lot of competition for large players
like Religare and it is creating little confusion in the minds of the customers
about the services provided by the broker. Also many banking firms are entering

JIMS GZB
into the market with huge investment. Competitors like ICICI, kotuku; HDFC,
5-paisa etc. are posing a lot of threats to the company.
Technology Based Business

Online trading is totally based on the technology which is quite complex.
Typically, the technology solution has to start from the Internet front-end
(or the screen that you see when you begin trading). Then it needs to get into
the 'middle tier' of risk management systems that assess data from banks and
depository participants (DP), calculate client risk at that point in time, and
give the 'Go/No go' advice to the trade. So technology is a kind of threat
because unless until it is working properly it is good but internet is not that
safe. Though a lot of cyber laws are being made but not yet executed.
Online Trading Account
Religare Provides Two types of Accounts
1. R-ALLY (Software based)
2. R-ACE (Web Based)

JIMS GZB
For the first time Religare brings investing community the power to be
associated with the elite dealing rooms and freedom to execute trade on their
own. That is, you may trade from our branches or trade on your own over the net
and with that you get our expertise and assistance.
It has been designed to provide world class experience and expertise to

investors. R-ALLY as the name suggests is the perfect partner for savvy
investors. Clients opting for this service would be provided services managed by
a team of dedicated relationship managers and experienced trade dealers. They
would not only assist the client in information dissemination but would also take
care of all post trade requirements.
Features of R-ALLY
• On line trading account for investing in Equities and derivatives via

Religare .com
• Integration of Online Trading + Bank + Demat A/c
• Instant cash transfer facilities against purchase & sale of shares
• Make IPO booking.

JIMS GZB
• You get order and trade confirmation by E-mail
• Personalized Market scan with your own customized stock ticker.
• Your very own portfolio tracker.
Online Trading Facilities with Odin Terminal.
Odin terminal is wave based software. Client can easily download the terminal
through Religare web site. No extra charges are taken for the use of this
terminal. Through this terminal/software you execute your order within 2
seconds. In this terminal we get both NSE&BSE On-line at same time. And the
clients can do trading in both NSE&BSE at the same time
System requirements:
You will need access to a computer, which has at fallowing configuration.
• Pentium 3 PC, Minimum 128 MB RAM
• Windows 2000/XP
• Internet connection
• Internet Explorer 6.0
• Java enabled
SHEDULE OF CHARGES FOR DEPOSITORY SERVICES
PARTICULARS CHARGE STRUCTURE

JIMS GZB
ACCOUNT OPERATIONS
Account opening
Annual maintenance
• Normal
• Speed – e A/c (Password
Users)
Documentation Charges
(Stamp Paper and other charges)
TRANSACTIONJ CHARGES
BUY
SALE
• Delivery Given To Religare
A/C
• Delivery Given To Any Other
Account
Dematerialization
• Courier charges
• Demat rejection charges
Rematerialization
• Pledge creation / closure /

invocation
• Delivery instruction booklet
Religare other charges

JIMS GZB
PARTICULARS CHARGE STRUCTURE
• Demat + Trading A/c Rs. 500/- (for life time)
• Brokerage .02 % (on Intraday)

.20 % (on Delivery)
• Exposure 4-6 time (on intraday)
4 time (on Delivery)
• A.M.C. Rs. 250/- p.a.
• Research report Free
• ODEIN 1800/- One time

(Software)
• SMS Alert Free
• Trading over phone Free
• Transaction Charges Free
Table Showing Acceptability of Various Documents As Proof

Of Identity, Address And Signatures.
(DEMAT ACCOUNT FOR INDIVIDUALS)

JIMS GZB
DOCUMENT IDENTITY ADDRESS
PROOF PROOF
• Valid Passport Yes Yes

• Driving License Yes Yes
• Voter’s identity Card Yes Yes
• Ration card No Yes
• Pan Card with Photograph Yes No
• Bank Passbook No Yes
• Telephone Bill (latest) No Yes
• Electricity Bill (latest) No Yes
• Credit Cards / Debit Card Yes No
Terms & Conditions

JIMS GZB
1. Client will be required to pay Rs. 500/- upfront for each demat account
which will be adjusted towards Depository service charges. Client will be

required the balance immediately when it fall below Rs. 200/-
2. DP charges of Broking Clients will be debited to their trading accounts.
3. Any other service, which is not mentioned above, will be charged

separately as per the rates applicable from time to time. Out of pocket
expenses including overseas consignment will be charged extra on actual
basis.
4. The value of transaction will be in accordance with rates provided by
NSDL.
5. All charges are subject to revision at the discretion of Religare after
giving a notice of 30 days.
6. All charges are payable on monthly basis and delayed payment will be
liable for interest 1.5% PM.
7. Religare may suspend/freeze the depository service of the account holder

on non-payment of outstanding bills.
Brokerage Offering

JIMS GZB
Our retail equity business primarily covers secondary market equity broking. It
caters to the needs of individual Indian and Non-resident Indian (NRI) investors.
We offer broker assisted trade execution and automated online investing and
trading facilities to our customers. Automated online investing and trading
includes automated order placement and execution of market and limit equity
orders; and advanced trading platforms for active traders. All investors have full
access to real – time quotes; personalized portfolio tracking; charting and quote
applications; and real-time market commentary, real-time quotes and news.

JIMS GZB
This product comes as RACE, RACElite and RACEpro. It gives you the
power of trading from your home, office or while traveling and trade in the
market of equity and derivatives. You can log on and get started from your
computers or your mobile devices. These products have very exciting features
like integrated DP, hot key functions and much more...
Features of R-ACA
• A/c –opening 500

• No up-front cash or stock margin required.
• Easley accessible on browser
• NSE cash segment, NSE, F & O, and BSE on single platform.
• Trade on line and over phone.
• Access your ledger balances & a/c information our interment, sms and
phone.
• Integrated DP, back office and trading a/c
• Online transfer of funds through multiple banks.
• Life time free D.P. Account (250/- A.M.C.)
• Interest on cash margin deposited with us.
R-ACE LITE:

JIMS GZB
• A/C opening charge Rs. 500/-
• Minimum cash Stock Margin Rs. 5,000/- required.
• Real time streaming quotas.
• Alert
• Hot key function
• Easley accessible on browser no software installation required.
• NSE cash segment, NSE, F & O, and BSE on single platform
• Trade on line and over phone.
phone.
• Integrating, back office and trading A/c
R-ACEPRO

JIMS GZB
• A/C opening charge Rs. 500/-
• Minimum cash Stock Margin Rs. 5,000/- required.
• Trader, terminal on your Desktop.
• Advance alert.
• Technical charting (intraday, EOD)
• Multiple watch lists.
• Derivatives chains.
• F & O calculator.
• Trade online and over phone.
• Advance Hot key function.
• NSE cash segment, NSE, F & O, and BSE on single platform
phone.
• Integrating, back office and trading A/c

JIMS GZB
Religare Securities Ltd. (RSL) maintains Religaresecurities.com (hereinafter
referred to as the "Website") and owns, has the license to use or otherwise has
the right to use, free of any pending or threatened liens, all content, graphics,
HTML and CGI or other scripts displayed and used on the Website. THE USE
OF THE WEBSITE BY THE CUSTOMER SHALL MEAN THAT HE/SHE
AGREES WITH THE FOLLOWING TERMS OF USE.
1. RSL has launched and established an online trading service on the Website
(hereinafter referred to as the "Service"). RSL has exclusive and sole discretion
to select the Customers who would be entitled to use access and benefit out of
the Service. RSL also reserves the absolute right and discretion to decide on the
criteria for selecting the Customers to participate in the Service offered
hereunder.
2. The offering of the Service is subject to the requisite permissions, approvals,

licenses and any other clearance from the appropriate regulatory authority viz.,
Securities and Exchange Board of India, National Stock Exchange of India
Limited, The Stock Exchange, Mumbai and any other relevant authority that
may be the regulatory authority of the Service.
3. The Service offered by RSL envisages a Customer opening a Trading

account.
4. This Service on the Website does not constitute an offer to sell or a
solicitation to any person in any jurisdiction where it is unlawful to make such
an offer or solicitation. This Service is not intended to be any form of an
investment advertisement, investment advice or investment information and has
not been registered under any securities law of any foreign jurisdiction and is
only for the information of any person in any jurisdiction where it may be lawful

JIMS GZB
to provide such information, otherwise the same shall not be considered an
information. The distribution of this Service or content in other jurisdictions
may be restricted by law and the persons who access the Service should inform
themselves about, and observe any such restrictions.
By accessing and surfing this Website, the Customer agrees to be bound by

the foregoing limitations.
5. No information, market analysis, research report, etc. on the Website is to be

construed as a representation with respect to shares, securities or other
investment regarding the legality of an investment therein under the respective
applicable investment or similar laws or regulations of any person or entity
accessing the Website.
6. This Service is provided on an "As Is" basis. RSL and its Affiliates disclaim
any warranty of any kind, imputed by the laws of any jurisdiction, whether
express or implied, as to any matter whatsoever relating to the Service, including
without limitation the implied warranties of merchantability, fitness for a
particular purpose, and non infringement. RSL and the Service and the Offer are
subject to the jurisdiction only of the courts of the Republic of India at Delhi.
CONCLUSION
In Equity and online trading, Religare have mainly competition with

kotakstreet.com, ICICIdirect.com, HDFCsec.com ,5paisa.com comes
at no. retail broker. It has an advantage of being in this industry for

JIMS GZB
more than 8 decades. It has launched its website in 2000 and were
among the first player in the online share trading. The Religare has
decided to spend its advertisement budget through four medias i.e.
television, print, web and outlets. From the above analysis we can
point out some points:
1. Religare account opening charges are lower than other

competitors. Religare is less flexible to cut down its account
opening charges on the other side; some of the brokers are
offering free account opening to high net worth customers.
2. The charges of demat account are reasonable at Rs. 500/- but

India bulls is offering pool account with no annual maintenance
charges.
3. Religare provides trading in NSE, BSE and derivatives. It is also

about to launch online mutual funds and arbitrage facility is not
available to customers
4. Religare is the only one that does not have any demat transaction
charges either on buying or selling

JIMS GZB
5. Unlimited toll free calls service is provided to customer in
Religare.in
6. Religare accept offline payment from other banks also but

kotakstreet.com icicidirect.com, hdfcsec.com clients have
compulsion to open an online account
7. BTST facility is available on almost all scrips of NSE in

Religare, Indiabulls but this facility is mot providing by
HDFCsec.com, kotakstreet offers it only for 75% of share value
and icicidirect.com gives it only on 127 scrips.
8. Sms alerts facility is mot available at hdfcsec.com, 5paisa.com

and India bulls.
9. Religare research reports come in client e-mail at free of cost

around 5-6 times in a day. But some brokers charged for it and
some provide it only at once in a day, while it is paid in
indiabulls, icicidirect.com and 5paisa.com.
10. Lowest Brokerage provider.

JIMS GZB
To sum up, we can say that computerization and automation are not
to be avoided. Technology has been able to make the stock markets
accessible to every individual. It has also led to positive
developments in terms of reduced costs and fewer errors but as
some experience has indicated, it cannot be applied as a panacea for
all problems. Regulation and knowledge dissemination are still
important; the use of technology should be preceded by a detailed
study and assessment of all other alternatives.
Limitations during the project:

Lack of awareness of stock market

JIMS GZB
Since the area is not known before it takes lot of time in convincing
people to start investing in shares primarily in ipo’s
No proper assurance of right information
The main data sources are websites, telephonic information and

offices visit.
• The data on websites might be possible, not get updated.
• The marketing person might be possible , is not through

with all concepts to whom I contacted.
• Sometimes, they try to hide information
Services of competitors
We cannot give proper comment oj competitor’s services till we use it.

But I try to collect as accurate information as possible . as we all know
services are intangible and we cannot predict its quality, it is a thing a
feel not to see.
Mostly people comfortable with traditional brokers
As people are doing trading from there respective brokers, they are
quite comfortable to trade via phone.

JIMS GZB
Lack of techno savvy people and poor internet penetration
Since most of the people are quite experienced and also they are not
techno savvy. Also Internet penetration is poor in India.
Some respondents are unwilling to talk
Some respondents are unwilling does not respond, as they are quite
annoyed with the phone call and some don’t have time.
Inaccurate leads
Sometimes leads are provided which had error in it which varies from
only 5 digit phone numbers to wrong phone number.
Misleading concepts
Some people think that shares are too risky and just another name of
gamble but they don’t know it’s not at all that risky for long investors.
Bibliography

JIMS GZB
Books and News Paper
• The economic times, Business Standard, Business line etc.
• Intelligent Stock Market Investing. By N. J. Yasaswy
• The Indian Securities Market By Tadashi Endo.
• PROJECT REPORT WRITING
Author: - M.K.Rampal & S.L. Gupta
WEBSITES:
• http://www.religaresecurities.com
• http://www.nseindia.com
• http://www.indiainfoline.com
• http://www.finsights.com
• http://www.walletwatch.com
• http://www.moneycontrol.com
• http://www.economywatch.com
• http://www.economictimes.com

JIMS GZB

Religare Project

Hochgeladen von

Dokumentinformationen

Originalbeschreibung:

Copyright

Verfügbare Formate

Dieses Dokument teilen

Dokument teilen oder einbetten

Freigabeoptionen

Stufen Sie dieses Dokument als nützlich ein?

Sind diese Inhalte unangemessen?

Copyright:

Verfügbare Formate

Religare Project

Hochgeladen von

Copyright:

Verfügbare Formate

A Project Report

A report submitted in the partial fulfillment of

7/21/2011 BARUN KUMAR

7/21/2011 BARUN KUMAR

It has been a great pleasure having gone through as a trainee in RELIGARE

I would like to express my gratitude to Mr. AMIT GUPTA (Branch

7/21/2011 BARUN KUMAR

7/21/2011 BARUN KUMAR

This project was undertaken to understand the working of Religare Securities

The information about their account opening charges, products, brokerage,

7/21/2011 BARUN KUMAR

• To take an overview of the Indian Stock Market and encapsulate

• What is on line trading & how it is different from other trading

• Also we have compared the equity and online trading on

7/21/2011 BARUN KUMAR

7/21/2011 BARUN KUMAR

Visionary – Late Dr. Parvinder

Dr. Parvinder Singh had

Dr. Singh also led

7/21/2011 BARUN KUMAR

India’s largest pharmaceutical Company

-Started by the promoters of Ranbaxy

-A leading solutions provider in

7/21/2011 BARUN KUMAR

RELIGARE Securities Ltd. (RSL) is a wholly owned subsidiary of

The primary focus of Religare Securities Ltd. is to cater to services

7/21/2011 BARUN KUMAR

RELIGARE was founded with the vision of providing integrated

RELIGARE is a pioneer in the concept of partnership to reach

Religare is a diversified financial services group of India offering a

7/21/2011 BARUN KUMAR

RELIGARE financial services group comprises of Religare Securities

RELIGARE SECURITIES LIMITED

• Member of National Stock Exchange of India and Bombay Stock

7/21/2011 BARUN KUMAR

7/21/2011 BARUN KUMAR

• Religare AMC Limited

• Asset Management Business

• Religare Finvest Limited

• Lending and Distribution business

• AEGON Religare Life Insurance Co. Ltd.

• Life Insurance Company, JV with Aegon (26%),

• Religare Insurance Broking Limited

• Life Insurance Broking Business

• Religare Macquarie Wealth Mgmt. Ltd.

7/21/2011 BARUN KUMAR

• Religare Arts Initiative Limited

• Religare Securities Limited

• Retail Equity Broking

• Religare Venture Capital Ltd.

• Private Equity and Investment Manager

• Vistaar Religare Capital Advisors Ltd.

• JV with Vistaar Entertainment

• Religare Finance Ltd.

• Capital Market Financing

• Religare Capital Markets Limited

• JV with Milestone Capital to manage a healthcare and education

Pioneered the concept of partnership to reach

NAME OF THE ORGANIZATION:

7/21/2011 BARUN KUMAR

Registered Office Address:-

Corporate Office Address: -

Noida: A-3, 4, 5, Sector-125, Noida,