CONTENTS PAGE NO.

PREFACE 2
ACKNOWLEDGEMENT 3
COMPANY PROFILE 4
EXECUTIVE SUMMARY 6
PRODUCT INTRODUCTION 21
RESEARCH METHODOLOGY 39
ANALYSIS OF DATA 43
SUGGESTIONS 51
CONCLUSION 53
BIBLIOGRAPHY 55
PREFACE
Responsible companies discover what customer wants and respond with the right pr
oduct and services, to give value to buyers and profit to the producers or servi
ce providers.
To succeed in today's competitive market, companies must have customer center, w
inning customers fro competitors thus deeming and growing them by delivering gre
ater services. But before, it can satisfy its customer a company must first unde
rstand their needs and wants.
Karvy Stock Broking Ltd. is financial service providing company and one of the l
argest financial consultants of India. It was established in 1981 and today Karv
y is having access to million of Indian shareholders in addition to companies ba
nk and financial institutions. It has build up positive reputation with regulato
ry authorities and government agencies. This project report aims to study the ma
rket potential of its product and suggest strategies to increase its market shar
e.

ACKNOWLEDGEMENT
I am obliged to all those people who have been extremely helpful during my resea
rch. Without there help my project would not have been successfully carried out.
I pay my heartfelt gratitude to Ms. Ankita Saxena (Executive, HR) under whose gu
idance I pursued my project. Though she was having lot of pressure of work, even
then she had given her precious time and given me advice of best of her knowled
ge.
My sincere thanks to my faculty MR. VIPUL SHAH for giving his useful advise so a
s to get an idea of the work culture in the corporate world, which has helped me
to enhance my knowledge and efficiency.

Ravi KUMAR
PGDFS 2ND SEM
COMPANY PROFILE

HISTORY
Overview
KARVY, is a premier integrated financial services provider, and ranked among the
top five in the country in all its business segments, services over 16 million
individual investors in various capacities, and provided investor services to ov
er 300 corporates, comprising the who is who of corporate India. KARVY covers th
e entire spectrum of financial services such as Stock broking, Depository Partic
ipants, Distribution of financial products - mutual funds, bonds, fixed deposit,
equities, Insurance Broking, Commodities Broking, Personal Finance, placement o
f equity, IPO's among other. Karvy has a professional management team and ranks
among the best in technology, operations and research of various industrial segm
ents.
Karvy - Early Days
The Birth of Karvy was on a modest scale in 1981. It began with the vision and
enterprise of a small group of practicing Chartered Accountants who founded the
flagship company.... Karvy Consultants Limited. We started with consulting and
financial accounting by 1985., since then, we have utilize our experience and su
perlative expertise to go from strength to strength... to better our services, t
o provide new ones, to innovate, diversify and in the process, evolved Karvy as
one of India's premier integrated financial services enterprise.
Karvy's values and vision of attaining total competence in servicing has served
as the building block for creating a great financial enterprise, which stands so
lid on its fortresses of financial strength in various companies.
With the experience of years holistic financial servicing behind us and years of
complete expertise in the industry to look forward to, Karvy has now emerged as
a premier integrated financial services provider.
And today, Karvy can look with pride at the fruits of our mastery and experience
- comprehensive financial services that are competently segregated to services
and manage a diverse range of customer requirements.

KARVY STOCK BROKING LIMITED

KARVY
Stock Broking Services / Distribution of Financial Products / Depository Partici
pants / Advisory Services / Research / Private Client Group
Member - National Stock Exchange (NSE), The Bombay Stock Exchange (BSE), and The
Hyderabad Stock Exchange (HSE)
Karvy Stock Broking Limited, one of the cornerstones of the Karvy edifice, flows
freely towards attaining diverse goals of the customer through varied services.
Creating a plethora of opportunities for the customer by opening up investment
vistas backed by research based advisory services. Here, growth knows no limits
and success recognizes no boundaries. Helping the customer create waves in his p
ortfolio and empowering the investor completely is the ultimate goal
Stock Broking Services
It is undisputed fact that the stock market is unpredictable and yet enjoys an h
igh success rate as a wealth management and wealth accumulation option. The diff
erence between unpredictability and a safety anchor in the market is provided by
in depth knowledge of market functioning and changing trends, planning with for
esight and choosing one & rsquo's options with care. This is what we provide in
our Stock Broking Services.
Karvy offers services that are beyond just a medium for buying and selling stock
s and shares. Instead we provide services which are multi dimensional and multi-
focused in their scope. There are several advantages in utilizing our Stock brok
ing services, which are the reasons why it is one of the best in the country.
Karvy offers trading on a vast platform ; National Stock Exchange, Bombay Stock
Exchange and Hyderabad Stock Exchange. More importantly, we make trading safe to
the maximum possible extent, by accounting for several risk factors and plannin
g accordingly. We are assisted in this task by our in depth research, constant f
eedback and sound advisory facilities. Our highly skilled research team, compris
ing of technical analysis as well as fundamental specialists, secure result orie
nted information on market trends, market analysis and market predictions. This
crucial information is given as a constant feedback to our customers, through da
ily reports delivered thrice daily, The pre session Report, where market scenari
o for the day is predicted, The mid session Report, timed to arrive during lunch
break, where the market forecast for the rest of the day if given and the Pos s
ession Report, the final report for the day, where the market and the report its
elf is reviewed. To add to this repository of information, we publish a monthly
magazine & Idquo ; Karvy ; The Fianapolis & rdquo;, which analyzes the latest st
ock market trends and takes a close look at the various investments options and
products available in the market, while a weekly report called & idquo ; Karvy B
azaar baatein & rdquo;, keeps you more informed on the immediate trends in the s
tock market. In addition, our specific industry reports give comprehensive infor
mation on various industries. Besides this, we also offer special portfolio anal
ysis packages hat provide daily technical advice on scrips for successful portfo
lio management and provide customized advisory services to help you make the rig
ht financial moves that are specifically suited to your portfolio.
research calls are disseminated systematically to all our stock broking clients
through various delivery channels like E-mail, Chat, SMS, phone calls etc.
Depository Participants
The onset of the technology revolution in financial services Industry saw the em
ergence of Karvy as an electronic custodian registered with National Securities
Depository Ltd. (NSDL) and (CSDL) Central Securities Depository Ltd. in 1998. K
arvy set standards enabling further comfort to the investor by promoting paperle
ss trading across the country and emerged as the top 3 Depository Participants i
n the country in terms of customer serviced.
Offering a wide trading platform with a dual membership at both NSDL and CDSL, w
e are a powerful medium for trading and settlement dematerialized share. We have
established live DPMs, Internet access to accounts and an easier transaction pro
cess in
order to offer more convenience to individual and corporate investors. A team of
professional and the latest technological expertise allocated exclusively to ou
r demat division including technological enhancements like SPEED-e, make our res
ponse time quick and our delivery impeccable.
www.karvy.com Board of Directors
1) Mr. C. Parthasarathy
Chairman and Managing Director (Managing Director)
2) Mr. M. Yugandhar (Managing Director)
3) Mr M.S. Rama Krishana (Director) Distribution of Financial Products
The paradigm shift from pure selling drives the business today. With our wide po
rtfolio offerings, we occupy all segments in the retail financial services indus
try.
A 1600 team of highly qualified and dedicated professionals drawn from the best
of academic and professional backgrounds are committed to maintaining high level
s of client service delivery. This has propelled us to a position among the top
distributors for equity and debt issues with an estimated market share of 15% in
terms of applications mobilized, besides being established as the leading procu
rer in all public issues.
To further tap the immense growth potential in the capital markets we enhanced t
he scope of our retail brand, Karvy - the Finapolis, thereby providing planning
and advisory services to the mass affluent. Here we understand the customer need
s and lifestyle in the context of present earnings and provide adequate advisory
services that will necessarily help in creating wealth. Judicious planning that
is customized to meet the future needs of the customers deliver a service that
is exemplary. The market savvy and the ignorant investors, both find this servic
e very satisfactory. The edge that we have over competition is our portfolio of
offerings and our professional expertise. The investment planning for each custo
mer is done with an unbiased attitude so that the
service is truly customized.
Our monthly magazine, Finapolis, provides up dated market information on market
trends, investment options, opinions etc. Thus empowering the investor to base e
very financial move on rational thought and prudent analysis and embark on the p
ath to wealth creation.
http://mfportfolio.karvy.com Advisory Services
Under our retail brand "Karvy - Finapolis', we deliver advisory services to a cr
oss section of customers. The service is backed by a team of dedicated and exper
t professionals with varied experience and background in handling investment por
tfolios. They are continually engaged in designing the right investment portfoli
o for each customer according to individual needs and budget considerations with
a comprehensive support system that focuses on trading customers, portfolios an
d providing valuable inputs, monitoring and managing the portfolio through varie
d technological initiatives. This is made possible by the expertise we have gain
ed in the business over the years. Another venture towards being investor friend
ly is the circulation of a monthly magazine called 'Karvy - the Finapolis'. Cove
ring the latest of market news, trends, investments schemes and research based o
pinions from experts in various financial fields, www.the-fmapolis.com
Private Client Group
This specialized division was set up to cater to the high net worth individuals
and institutional clients keeping in mind that they require a different kind of
financial planning and management that will augment not just existing finances b
ut their life-style as well. Here we follow a hard nosed business approach with
the soft touch of dedicated customer care and personalized attention.
For this purpose we offer a comprehensive and personalized service that encompas
ses planning and protection of finances, planning of business needs and retireme
nt need and a host of other services, all provided on a one to one basis.
ACHIEVEMENTS
Among the top 5 stock brokers in India (4% of NSE volumes)
India's No. 1 Registrar & Securities Transfer Agents.
Among the to top 3 Depository Participants.
Largest Network of Branches & Business Associates.
ISO 9002 certified operations DNV.
Among top 10 investment bankers.
Largest Distributor of Financial Products.
Adjudged as one of the top 50 IT uses in India by MIS Asia.
Full Fledged IT driven operations.
ORGANIZATIONAL STRUCTURE
> Karvy Consultants Ltd.
> Karvy Stock Broking Ltd.
> Karvy Investor Service Ltd.
> Karvy Computer Share Pvt. Ltd.
> Karvy Global Services Ltd.
> Karvy Commodity Broking Pvt. Ltd.
> Karvy Insurance Broking Pvt. Ltd.
QUALITY POLICY
To achieve and retain leadership, Karvy shall aim for complete customer satisfac
tion, by combining its human and technological resources to provide superior qua
lity financial services. In the process, Karvy will strive to exceedd customer's
expectations.
Quality Objectives
As per the Quality Policy, Karvy will:
> Build in house processes that will ensure transparent and harmonious relations
hip with its clients and investors to provide high quality of services.
> Establish a partner relationship with its investor service agents and vendors
that will help in keeping up its commitments to the customers.
> Provide high quality of work life for all its employees and equip them with ad
equate knowledge & skills so as to respond to customer's needs.
> Continue to uphold the values of honesty & integrity and strive to establish u
nparalleled standards in business ethics.
> Use state of the art information technology in developing new and innovative f
inancial products and services to meet the changing needs of investors and clien
ts.
> Strive to be a reliable source of value added financial products and services
and constantly guide the individuals and institutions in making a judicious choi
ce of same.
5^ Strive to keep all stake-holders (shareholders, clients, investors, employees
, suppliers and regulatory authorities) proud and satisfied.

ABOUT PRODUCTS - OUR PRODUCT RANGE

1) DP (Depositary Participant.)
2) DEMAT
3) MUTUAL FUNDS
4) BONDS
5) INSURANCE
6) STOCK BROKING
7) DISTRIBUTION (IPO'S)
8) TIN (PAN)

ABOUT KARVY'S PRODUCTS

DEPOSITORY (DP)
A depository can be compared to a bank. A depository holds securities (like shar
es, debentures, bonds, Government Securities, units etc.) of investors in electr
onic form Besides holding securities, a depository also provides services relate
d to transaction in securities.
How can i avail the services of a depository ?
A depository interfaces with the investors through its agents called Depositary
Participants (DP's). If an investor wants to avail the services offered by the d
epository, the investor has to open an account with a DP. This is similar to ope
ning and account with any branch of a bank in order to utilize the bank's servic
es.
What are the benefits of participation in a depository ?
The benefits of participation in a depository are :
1. Immediate transfer of securities.
2. No. stamp duty on transfer of securities.
3. Elimination of risk associated with physical certificates such as bad deli
very, fake securities etc.
4. Reduction in paperwork involved in transfer of securities.
5. Reduction in transaction cost.
6. Nomination facility.

Important Information about depository participant

Depository
A depository is Company where the shares of and individual are held in the elect
ronic form, at the request of the shareholder. This eliminates the physical form
of holding. The National Securities Depository Limited (NSDL) was promoted by I
DBI, UTI, SBI, and NSE. The Central Securities Depository Limited (CDSL) was pr
omoted by BSE.
The Depository System ?
Our money may be held in the form of liquid cash at our home or may be deposited
in a bank. The bank holds our funds in the electronic form and subsequently deb
its or credits the account. Depending on our issuance of cheques or deposit of c
heques. The advantages of safety and convenience of dealing with a Bank overweig
h the reasons for holding liquid cash in our : home. Our financial assets such
as Equity Shares may be compared to the above example. We may hold physical shar
e certificates in our home and be exposed to the various risks of lack of safety
, mutilation, loss etc. Alternatively, we may deposit our shares in an organizat
ion called a Depository which holds our shares in the electronic form.
How can you Deal with the Depository directly ?
You cannot deal with the Depository directly. However, if you have any unresolve
d grievances against our DP. you can make a complaint to the Depository at the b
elow mentioned address.
The obligations of a Depository ?
The depository is obligated to maintain the Client Holdings, enable demat and re
mat of eligible securities, disbursement of corporate benefits, effect settlemen
t of securities traded on the exchanges as well as Off-market trades through boo
k entry transfers, provide for Pledging/Hypothecation of eligible securities.
How Many DPM's are there in Karvy ?
Karvy Consultants Ltd. have four DPMs as on date. The are :
1. Hyderabad - IN300394
2. Lucknow - IN301557
3. Bangalore - IN301926
4. Mumbai - IN302470

NSDL?
National Securities Depositories Limited is a Depository promoted by UTI, IDB1,
SBI, & NSE who hold the securities in electronic form on behalf of the beneficia
ry holder.
about the insurance policy by NSDL ?

Shares in the electronic segment are 100 percent secure. The agreement between y
ou and the DP indemnifies you against misuse of our electronic holdings by any p
arty, in any manner whatsoever. You may legally invoke such indemnity and be 100
percent compensated. A comprehensive Insurance Policy has been taken by NSDL wh
ich covers our DP account, so as to protect you against any losses, breach of se
curity etc.
CDSL ?
Central Depositories Securities Limited is a Depository promoted by BSE.
How does the depository curtail forgeries / fakes in Duplicate Distinctive Numbe
rs?
Physical share certificates with duplicate distinctive numbers are essentially f
orged certificates. The R & T would identify and reject the certificates. The co
ncerned Stock Exchanges are informed of the details.

DEMATERIALIZATION
Dematerialization is the process by which physical certificates of an investor a
re converted to an equivalent number of securities in electronic form and credit
ed in the investor's account with its. DP.
In order to dematerialize certificates, an investor will have to first open an a
ccount with a DP and then request for the dematerialization of certificates by f
illing up a dematerialization request form (DRF), which is available with the DP
and submitting the same along with the physical certificates. The investor has
to ensure that before the certificates are handed over to the DP for demat, the
y are defaced by marking "Surrendered for Dematerialization" on the face of
the certificates.
REMATERIALISATION
If you wish to get back you securities in physical form, all you have to do is t
o request your DP for dematerialization of the same. Dematerialization is the te
rm used for converting electronic holdings back into certificates. Your DP will
forward your request to NSDI after verifying that you have the necessary balance
NSDL in turn will intimate the register who will print the certificates and dis
patch the same to you.
 DE - MAT A/C
Frequently Asked questions by consultants about DP.
Q. 1 Can my account with my DP be viewed by any other Depository Participant?
No. our DP can only access their own clients information. They can not access th
e client information of any other DP.
Q. 2 How many holders are possible ?
The maximum number of holders possible are 3.
Q. 3 What are the maximum number of accounts that I can open ?
You may open more that one account with the same DP.
Q. 4 Can I open a Second Account with a second Depository Participant?
Yes, You have the choice of opening accounts with more than one DP.
Q. 5 How confidential is the information in my account ?
The information of your holdings in the account is completely confidential. This
is similar to your account balance in a bank..
Q. 6 How do I Nominate more that on person ?
As per the latest Company's Act Amendment, only one person can be nominated.
Q. 7 How do I avail Nomination Facility ?
Fill in the relevant columns in the application.
Q. 8 Do Depository Accounts have Nominee Facility ?
No. NSDL allows the DP and the investor to capture details of the Nominee.

Q. 9 How is account confidentiality maintained ?

our account confidentiality is maintained, since only our DP has access to the i
nformation in your account.
Q. 10 What are the types of Accounts that can be opened by a client?
Individual accounts can be opened by Ordinary Resident, HUF, NRI ~ Repatriable a
nd NRI Non-Repatriable. Corporate Accounts can be opened by Body Corporate, Bank
s, Trusts, Financial Institutions, Foreign Institutional Investors, Overseas Com
mercial Banks etc.
Q. 11 What are the RBI Approvals for NRI's?
If your are an NRI, the RBI permission is required for NRI's depending on the
category as given below :
S.No.
Category of our Account
Sale or Purchase
Remarks
1.
Primary Market - Allotment
Purchase
No. RBI permission is required for allotment on repatriable basis.
2.
Primary Market
Sale
On repatriable basis RBI permission is required
3.
Secondary Market
Sale or Purchase
Repatriable or Non-repatriable basis. RBI permission is required and is
valid for 5 years

Q. 12 How do I open a HUF Account?

An account can be opened in the name of HUF in a similar way to individual accou
nt and mentioning the account category as HUF. However, Kartha of HUF will sign
the
application agreement and all transactions under the account.
Q. 13 How do I open an Account of a Partnership Firm ?
An account cannot be opened in the name of the firm. It has to be opened in the
name of any of the Partner as an individual account only.
Q. 14 What are the formalities and are required to be completed to open a Corpor
ate Account ?
The procedure to be followed in order to open a Corporate account is quite simil
ar to the opening of an account by an individual, but in addition to that you al
so have to submit the Memorandum of Association (MOA) as well as the Board Resol
ution for authorized signatories in case of a limited and private limited firms.
Q. 15 How do we open a Clearing Member Account ?
An application has to be made to the Depository with a request to the depository
directly also.
Q. 16 What is CMBP ID?
A CMBP ID is a Clearing Member Broker Pool Account. The broker opens this accoun
t in order to use this account as a clearing house for all the clients for whom
he is the broker and the unique identification number given to this account is k
nown as the CMBP ID.
Q. 17 Can a Broker hold his personal shares in his Clearing Member Pool Account?
No. The CPMA is to be used only for clearing purposes, as this is a temporary an
d in transition Account. Securities in this account are not eligible for corpora
te actions, Bonus, Dividends, Rights etc. Thus, the Broker must open a separate
account for his own investments.
Q. 18 How Do I operate my Account ?
In the operation your account our DP can act on our written instructions only. M
ake sure always that pre-signed instructions are not given by you to anyone. Thi
s is like a pre-signed blank cheque.

Q. 19 What is a standing instruction ?

A standing instruction is an instruction given by the client in order to receive
credit into his account.
Q. 20 When does my account get credited ?
Your account would be credited with shares that you have freshly dematerialized
or have purchased recently, the credit will be confirmed to you in the fortnight
ly Statement of Transactions sent by our DP.
Q. 21 What is a client master list?
A client master list is a statement, which gives the complete details of the cli
ent as well as the account which he has opened.
Q. 22 How safe is our account?
Your account is completely safe with our DP since nobody has access to your acco
unt except our DP and the DP will operate our account only on instruction from y
ou.
Q. 23 What are the formalities to be completed for closing our account?
In order to close your account, you need to fill in an Account Closing form and
submit the same to your DP.
PRODUCT FEATURE

MUTUAL FUND
A mutual fund is a diversified, professionally managed portfolio of securities.
Most mutual funds hold securities in many companies. The investment of each indi
vidual is pooled with those of thousands of other investors. This offers scope f
or much better diversification than what an individual investor could achieve on
his/her own. With money being spread out over a number of investments, the risk
is minimized, as the returns are not dependent on the performance of any single
security.
Mutual funds are financial intermediaries in the investments business. They coll
ect funds from the public and invest on behalf of the investors as "pass through
entities" with losses and gains accruing to the investors only.
CONCEPT
• A mutual Fund is a trust that pools the saving of a number of investors who sh
are a common financial goal.
• The money thus collected is then invested in capital market instruments such a
s shares, debentures and other securities.
• The income earned through these investments and the capital appreciation relea
sed are shared by its unit holders in proportion to the number of units owned by
them.
• Thus a Mutual Fund is the most suitable investment for the common man as it of
fers an opportunity to invest in a diversified, professionally managed basket of
securities at a relatively low cost.

BENEFITS OF INVESTING IN MUTUAL FUND Professional Management

Mutual Funds provided the services of experienced and skilled professionals, bac
ked by a dedicated investment research team that analyses the performance and pr
ospects of companies and selects suitable investments to achieve the objectives
of the scheme.
Diversification
Mutual Funds invest in a number of companies across a broad cross section of ind
ustries and sectors. This diversification reduces the risk because seldom do all
stocks decline at the same time and in the same proportion. You achieve this di
versification through a Mutual fund with far less money than you can do on your
own.
Convenient Administration
Investing in a mutual Fund reduces paperwork and helps you avoid many problems s
uch as bad deliveries, delayed payment s and follow up with brokers and companie
s. Mutual Funds save your time and make investing easy and convenient.
Return Potential
Over a medium to long term mutual fund have the potential to provide a higher re
turn as they invest in a diversified basket of selected securities.

Low Costs
Mutual Funds are a relatively less expensive way to invest compared to
directly investing in the capital markets because the benefits of scale in
brokerage, custodial and other fees translate into lower costs for investors.
Liquidity
In open end schemes, the investor gets the money back promptly at net
asset value related prices from the Mutual fund. In closed end schemes, the
units can be sold on a stock exchange at the prevailing market price or the
investor can avail of the facility of direct repurchase at NAV related prices by
the Mutual Fund.
Transparency
You get regular information on the value f your investment in addition to
disclosure on the specific investments made by your scheme, the proportion
invested in each class of assets and the fund manager's investment strategy
and outlook.
Flexibility
Through features such as regular investment plans, regular withdrawal plans
and dividend reinvestment plans, you can systematically invest or withdraw
funds according to your needs and convenience.
Affordability
Investors individually may lack sufficient funds to invest in high grade stocks.
A mutual fund because of its large corpus allows even a small investor to
take the benefit of its investment strategy.

WHICH ARE THE VARIOUS KINDS OF MUTUAL FUND SCHEMES

Broadly mutual fund schemes can be categorized as open ended and close ended.
Open Ended Schemes
An open ended scheme is a scheme in which an investor can buy and sell units on
a daily basis , wherein the scheme has perpetual existence, and a flexible, ever
changing corpus. In simple terms, investors are free to buy and sell and number
units, at any point of time., at prices which are linked to the NAV of the unit
s. As the NAV changes with the time, so do the prices at which the investors can
buy or sell these units. Open ended schemes give to the investor complete flexi
bility with regard to his investments as he can invest or disinvest any amount a
ny time. Besides An open ended scheme gives the investor almost instant liquidit
y. Its schemes are not listed on the stock market and the investor can buy or se
ll these units only from and to the mutual fund.
Close Ended Scheme
A close ended scheme has fixed corpus and operates for a flexed duration, at the
end of which the entire corpus is disinvested and proceeds distributed to the v
arious unit holders in proportion to their holdings. The units are issued like t
hose of any other company's new issue, and are listed and quoted at the stock ex
changes. The units are not redeemable at their NAV like the open ended funds. Th
e funds are typically channelised into the secondary market through acquisition
of corporate securities. The prices of close ended fund units are determined by
demand and supply and not by NAV as in the case of open ended funds units.

BOND
A bond is a debt instrument issued by a business or a governmental organization.
It is fixed interest bearing investment which provides for payment or accrual o
f interest at regular intervals and payment of the redemption amount or maturity
. Bonds are also traded on stock exchanges imparting liquidity to and investor's
investments.
Bonds are sold in the market at a premium (price greater that principal value) o
r at a discount (price lower than the principal value). The investor's decision
to by a bond at a particular price should take into the account the yield to mat
urity (YTM) on the bond and the risk of timely payment of interest and principal
.
Credit rating issued by approved rating agencies such as CRISIL, ICRA, and CARE
could be of use to investors to estimate the risks associated with various fixed
income instruments.
Types of bonds -
A bond is loan by the buyer to the issuer of the instrument. Bonds may be issued
by the companies, financial institutions or the government. Over and above the
scheduled interest payments as and when applicable, the holder of a bond is enti
tled to receive the par value of the instrument at the specified maturity date.
Bonds can be broadly classified into
a. Tax Saving Bonds.
b. Regular Income Bonds
Tax Saving Bonds offer tax exemption up to a specified amount of investments. Ex
amples are :
a) ICICI Infrastructure Bonds under Section 88 of the Income Tax Act, 1961.
b) NABARD/NAHAI/REC Bonds under Section 54EC of the income Tax Act, 1961.
c) RBl Tax Relief Bonds.
Regular Income Bonds, as the name suggests, are meant to provide a stable source
of the stable income at regular, pre-determined intervals.
INSURANCE
On the one hand, human life is subject to various risks—risk of death or disabilit
y due to natural or accidental causes. Humans are also prone to diseases, the tr
eatment of which may involve huge expenditure. On the other hand, property owned
by man is exposed to various hazards, natural and man-made.
When human life is lost or a person is disabled permanently or temporarily, ther
e is a loss of income to the household. The family is put to hardship. Sometimes
survival itself is at stake for the dependants.
When it comes to property, loss or damage to property results in either whole or
partial loss in income to the person or entity.
Risk has the element of unpredictability. Death/disability or loss/damage could
occur at anytime. Losses can be mitigated through insurance. Insurance is a comm
odity which offers protection against various contingencies.
Insurance products available for life and non-life are many. In non-life, apart
form personal covers such as accident covers and health insurance, there are pro
ducts covering liabilities under a particular law and or common law. The various
products are designed to cater to different needs of an individual or industry
such as fire insurance policy on multi-storied building, householder's policy.
An insurance contract promises to make good to the insured a certain sum in cons
ideration for a payment in the form of premium from the insured.

Human life cannot be valued. Hence the sum assured ( or the amount guaranteed to
 be paid in the event of a loss ) is by way of a 'benefit' in the case of life i
nsurance. Life insurance products provide a definite amount of money to the depe
ndants of the insured in case the life insured dies during his active income ear
ning period or becomes disabled on account of an accident causing reduction/comp
lete loss in his income earnings. An individual can also protect his old age whe
n he ceases to earn and has no other means of income by purchasing an annuity pr
oduct.
A Personal Accident cover is also for protection. In the event of death or disab
ility, permanent or temporary, of the insured, it provides for compensation whic
h is either the whole or a percentage of the Capital Sum Insured depending on th
e kind of loss.
In the case of Health Insurance, the policy seeks to cover expenses towards of t
reatment of diseases and or injury upto the Sum Insured opted for by the insured
.
In respect of insurance relating to property, there are many products available.
Property may be covered against fire and perils of nature including flood, eart
hquake etc. Machinery may be insured for breakdown. Goods in transit can be insu
red under a marine cargo insurance cover. Insurance covers are also available fo
r ships and other vessels. A motor insurance policy covers third party damage as
well as damage to the vehicle.
Insurance of property is based on the principle of indemnity. The idea is to bri
ng the insured to the same financial position as he /she was before the loss occ
urred. It safeguards the investment in the property. Where there is no insurance
, losses can mar a project or an industry. General Insurance offers stability to
the ecqnomy and to the society.

INITIAL PUBLIC (IPO)

The tri-agency Integrated Program Office (IPO) created Operational Algorithm Tea
ms (OATs) in 1997 to provide scientific advice for managing the development and
operation of the National Polar-orbiting Operational Environmental Satellite Sys
tem (NPOESS). The scientific advice focuses on (1) assuring sound science in ins
trument and systems design in addition to (2) assuring development and implement
ation of sound scientific algorithms. This paper outlines the role of IPO operat
ional algorithm teams from mission conception, through instrument design and dev
elopment, algorithm science code development and conversion to operational code,
data processing system implementation, calibration, validation, and, finally, o
perational data and products distribution to a range of users for weather, natio
nal security, and climate science. The composition of the algorithm science team
s changes substantially as the sensors and algorithms are developed, tested, int
egrated, launched, become operational, and age on-orbit. The concept of leveragi
ng our heritage scientists has proven successful with many tangible benefits to
the government, the contractor teams, and, ultimately, the nation's taxpayers.
The advent of switched multi-channel (e.g., WDM, DWDM, OTDM) optical networks us
ing OXCs (Optical Cross-connects) and other optical switching elements presents
many new opportunities for improving the performance of IP networks and supporti
ng faster and more flexible provisioning of IP services. However, much needs to
be specified before interoperable products based on these technologies can be de
ployed in service provider networks. The work needed in this area includes:
- Document the use of existing framing methods for IP over optical dataplane and
control channels, and as necessary specify additional framing methods.
Identify and document the characteristics of the optical transport network that
are important for selecting paths for optical channels, setting-up optical chann
els, and tearing-down optical channels.
- Document the applications of the common control and measurement protocols to t
he technology-dependent aspects of optical path setup, teardown, and maintenance
of optical channels across networks with optical components.
- Document the requirements for control of optical networks by elements outside
the optical network itself.
- Document the applicability of IP-based protocols for the controlled disseminat
ion of optical network topology, metric, and constraint information. Such inform
ation can be used for inventory management, path selection, and other purposes.
The information to be exchanged should accommodate both all-optical and optical-
electrical-optical switching technologies.
- If a need is identified to develop new protocols or make incompatible modifica
tions to existing protocols (e.g., routing and signaling protocols) to accomplis
h the above goals, then a recharter must first be approved before undertaking su
ch work.
The IP over Optical WG will coordinate with relevant working groups within the I
ETF to leverage existing work. The WG may also generate requirements for other I
ETF WGs as needed. Additionally, the WG may collaborate with other standards bod
ies and interoperability forums engaged in IP over optical activities (e.g., inc
luding ITU-T) to share information, minimize duplication of effort, and coordina
te activities in order to promote interoperability and serve the best interest o
f the IND

PERMANENT ACCOUNT NUMBER (PAN NO.S)

Life insurance policies take five to seven years to produce profits from investm
ents. Because the company sold policies, it had to reserve more cash for those p
olicies, which affects operating costs, Fischer said.
Pan-American wrote more than five times more work-site premiums, going from $3.4
million in 2001 to $17.1 million last year. Individual life insurance policies
increased 41% while policies in the work division grew 503%. Pan-American establ
ished the division in 2000, Fischer said.
Life insurance sales are growing across the country because investors have shift
ed away from the stock market and are looking at stable alternatives, Fischer sa
id. Employer-issued policies have helped a growing number of people obtain life
insurance. With Pan- American, employees can purchase group policies through the
ir employers.
Pan-American Life added new products as well, including three new senior market
products, which simplifies the process of acquiring a life insurance policy, Fis
cher said. Seniors now answer seven medical questions that revolve around heart
health rather than go through medical exams.
In its 401 (k) division, Pan-American launched a new product targeted at smaller
companies, charging a lower percentage for lower assets in smaller companies' 4
01 (k) plans, Fischer said.
Pan-American has had trouble hiring the work force it needs. "The problem for us
, being the only life insurance company (headquartered) in New Orleans, is its h
ard for us to get (employees) with an insurance background," Fischer said. "In N
ew England, where there are lots of life insurance companies, they can recruit e
mployees from other companies. We must go outside our market a lot."
The company now has five open positions and regularly brings in new employees.Wi
th $2.3 billion in total assets, the company's net worth is $239 million with no
debt, fisher said.

KARVY
OPERATIONAL HIGHLIGHTS

BROKING AVARAGE DAILY TURNOVER

NO OF DEMAT ACCOUNTS

NUMBER OF BRANCHES

KARVY'S RECENT INITIATIVES

Karvy has been proactively leveraging its strengths to exploit new growth opport
unities and diversify income, some of Karvy's recent business initiatives.
• Margin Founding activity.
• Insurance Broking (both life and non-life segments)
• Commodity Broking.
• WDM/Debt market trading.
• Retail debit broking.
• USE direct membership upgrading from Auto working status.
• Spreading the equity culture to non-metros and semi-urban areas -
more branches planned enhancing circulation and visibility of in house • perso
nal financial advisory magazine finapolis.
• Improving Mumbai presence and strengthening Research desk to better penetrate th
e institutional segment also enhancing service delivery to the HBI segment throu
gh PCG initiative.
• International offices - Dubai office commencing operations shortly 2 more office
s planned in New York and London.

COMPETITORS OF KARVY
1) INDIA BULLS
2) KOTAK SECURITY
3) SHARE KHAN
4) ANAND RATTHI
5) SITA PORTOFOLIO
6) LOCAL BROKERS

RESEARCH METHODOLOGY

RESEARCH METHODOLOGY
Problem Identification :
The project do find out the market share of Karvy's products and suggestion how
to improve the market share.
Collection Method of Date :
The source of data collection was primary data which was collected by personal i
nterview, aided by structured disguised Questionnaire.
Area:
Field work was carried out for the Karvy Stock Broking Ltd. For the analyze of m
arket potential of product.
Sample Size:
Daily around 10-20 peoples were interviewed . Therefore, the whole exercise took
about 20 days.
Almost all the respondents were very helpful and forthcoming with the informatio
n.
RESEARCH OBJECTIVES

RESEARCH OBJECTIVES
To find out the market strength and market share of Karvy's product and suggest
strategies to increase its market share.
1) To study present product market.
*
2) To find out the market share of Karvy's product.
3) To get overview of Sales scenario of the Karvy's product vis a Vis. its :
competitors.
4) To judge the awareness level of peoples regarding the various products.
5) To analyse the people criteria for promoting any brand and the needs and p
roblems of the people.
6) To collect ideas and suggestions form the market.
7) To find out the future market potential of products.
8) To find out the strength of Karvy and do SWOT analysis of Karvy's products
9) To suggest strategies to increase the market share of Karvy's products.
Above objectives were achieved by following a well thought out plan and defining
the problem for each objectives separately.

DATA
ANALYSIS

DATA COLLECTED OF BONDS INVESTED IN VARIOUS COMPANIES

KARVY 20
INDIA BULLS 40
ANAND RATHI 20
LOCAL BROKERS 10
SHARE KHAN 4
KOTAK SECURITY 5
SITA PORTFOLIO 1
GRAPHICAL REPRESENTATION OF BONDS INVESTING IN VARIOUS COMPANIES

DATA COLLECTED OF INSURANCE INVESTED IN VARIOUS COMPANIES

KARVY 19
INDIA BULLS 14
ANAND RATHI 5
LOCAL BROKERS 5
SHARE KHAN 19
KOTAK SECURITY 10
SITA PORTFOLIO 28
GRAPHICAL REPRESENTATION OF INSURANCE INVESTING IN VARIOUS COMPANIES

DATA COLLECTED OF PAN NO. INVESTED IN VARIOUS COMPANIES

KARVY 30
INDIA BULLS 20
ANAND RATHI 8
LOCAL BROKERS 12
SHARE KHAN 14
KOTAK SECURITY 6
SITA PORTFOLIO 10

GRAPHICAL REPRESENTATION OF PAN NO. INVESTING IN VARIOUS COMPANIES

DATA COLLECTED OF BUYING OF SHARES INVESTED IN VARIOUS COMPANIES

KARVY 60
INDIA BULLS 10
ANAND RATHI 6
LOCAL BROKERS 4
SHARE KHAN 8
KOTAK SECURITY 2
SITA PORTFOLIO 10

GRAPHICAL REPRESENTATION OF BUYING OF SHARES INVESTING IN VARIOUS COMPANIES

DATA COLLECTED OF BUYING OF SHARES PRODUCT MORE FLEXIBLE IN THE MARKET INVESTED
IN VARIOUS COMPANIES
KARVY 20
INDIA BULLS 10
ANAND RATHI 10
LOCAL BROKERS 3
SHARE KHAN 40
KOTAK SECURITY 6
SITA PORTFOLIO 11

GRAPHICAL REPRESENTATION OF OF BUYING OF SHARES PRODUCT MORE FLEXIBLE IN THE MAR

KET INVESTING IN VARIOUS COMPANIES

DATA COLLECTED OF BUYING OF SHARES PRODUCT IN COMPARISION INVESTED IN VARIOUS CO

MPANIES

Excellent 50
Good 30
Fair 10
Poor 10

GRAPHICAL REPRESENTATION OF PRODUCT IN COMPARISION INVESTING IN VARIOUS COMPANIE

S

DATA COLLECTION METHOD

DATA SOURCES :
Primary as well as Secondary data sources are used to make project efficient and
fruitful.
1) PRIMARY SOURCE OF DATA
a) Observation
b) Questionnaire
2) SECONDARY SOURCE OF DATA:
a) Company's Catalogues
b) Company's Websites
c) Business magazines and newspaper. RESEARCH INSTRUMENTS :
A) Observations:
Careful observation of all the outlets have been done to find out the location v
isibility.
B) Questionnaire:
Structure non-disguised questionnaire and structures disguised Questionnaire has
been used to collect the information about the Outlets, annual sale.

SUGGESTIONS
Karvy should introduce more attractive schemes for lower class consumer segment.
2) Karvy should increase its products like Home Loans, Personal Loans, Educat
ion Loan, which is in great demand.
3) Karvy should opened more of its branches in other cities also, so that, pe
ople can easily aware of their products.
4) Various advertising promotion schemes should be done like providing Sign B
oards, Banners for display to consumer.
5) Increase number of branches in Lucknow and in other cities also.
6) Karvy should provide more packages to the consumer.
7) Some sort of insentive should be provided to consumer to do advertisement.
8) To give advertisement in Television.
9) To give advertisement in Newspaper through other Media.
10) Company should provide more and suitable schemes to businessman and shopke
epers, so that, it can increase its business in the market.
11) Company should provide scheme to consumers, EX-
a) Gifts in a package on occasion of festivals.
b) Introduce coupon or scratch offer in the various schemes

CONCLUSION

CONCLUSIONS

1) There is more awareness level for difference Karvy's products among the co
nsumers.
2) From the data collected it is quite clear that while promoting any brand t
he foremost considerations are good demand and a good margin followed by regular
supply and next comes brand names.
3) Average annual sale come out to be medium for Karvy's product followed by
its competitors product and also have a significant share when clubbed together.
4) Brand awareness for karvy's product is more.
5) Among products Stock Broking, Insurance and PAN numbers were in great deman
d most among the consumers.
6) Most of the consumers were complaining about that there was no sort of cre
dit given in the era of credit.

BIBLIOGRAPHY

BIOBLIOGRAPHY
1. Karvy Stock broking Ltd. website: www.karvy.com
2. Research Methodology : By K.U. Rao
C.R. Kothari
3. Marketing Management : By: Philip Kotler
4. www.sebi.org
5. www.mutualfundsindia.com
6. www.economictimes.com

QUESTIONNAIRE FOR CONSUMERS

Respondents Personal Details:

Name - Age -
Marital Status - Phone No -
Q.1 Profession of Consumers ?

Q.2 In which Company you prefer more to invest in Mutual funds?

Q3. In which Company you prefer more to open Demat Account ?

Q4. from which company you prefer to buy bonds?

Q 5. through which company you you want to ensure?

Q.6 through which company you want to take Pan no. ?

Q 7. from which company you prefer to buy the shares ?

Q 8. from which company's product is more flexible in the market ?