SUMMER TRAINING PROJECT

“Comparative Study of Major

Stock Broking

Companies in DELHI Region”

SUBMITTED BY:
ALOK MISHRA
MBA (Marketing & Finance)
DIAS

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 ACKNOWLEDGEMENT

This summer project is aimed at developing an understanding and implementing the

concepts that have been learned in the first year of MBA course. It was also to chance for

one to gain an insight into the corporate world and learn about the functioning of various

arms of the organization.

A project of this magnitude depends on contributions from a wide range of people for its

success. I would like to take this opportunity to acknowledge the many people who have

contributed in different ways to this report. Many people have contributed a great deal of

their time and expertise to the development of this project.

Firstly, I would like to thank my guide AMIT SINGH, RELATIONSHIP MANAGER,

RSL for getting me started & for seeing me through until the end. Needless to say, his

knowledge and experience have served as a continuous source of encouragement and

motivation. Without his invaluable support and guidance, this project would not have

been possible.

I would also like to take this occasion to whole-heartedly thank Mr. B.K.SINGH

(Branch Manager) , Mr. Mukesh( faculty guide) for their continuous support and

guidance.

Finally, a note of thanks is due to all those, too many to single out by names, who have

helped in no small measure by cooperating during the project and by providing their

valuable time, inputs and assistance.

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 PREFACE

Many students may have done work on this project in different ways/styles. I have also
tried to work on this project in a different way.
It was for the first time I got the opportunity to work in such a prestigious and well
known organization. And things which I have experienced in my training time are going
to help me through out my life time. I have worked on this project with great enthusiasm
and zeal. I have tried to cover almost all the things which I have experienced and learned
from the company’s management.
No doubt at present working atmosphere is fine but it needs some alternations,
keeping in mind this view; I have also suggested some improvements/suggestions. The
title which is:

“COMPARATIVE STUDY OF MAJOR STOCK BROKER COMPANY’S”

The main goal of my project is to find out the frequency, uses, modifications

,improvements and appropriate suggestions .It would be my great pleasure , if this project

can help this company to achieve its goal higher any way.

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 ABSTRACT

This report is a summary of the work done as a summer trainee in Religare Securities
Limited.

I divided this project report into following phases as mentioned in the project proposal.
The report is about the comparative study of online stockbrokers.

The project report begins with the detailed introduction of the study in which basis of
comparison has been discussed. Then detailed introduction of share market has been
given. Then information regarding Religare Securities Limited has been given. The basic
schemes and services offered by the RSL to its customers have been included in the
project report.

The project report contains the information about other online brokers (ICICI direct,
Kotak securities, Motilal Oswal, share khan, India Info line) also like what is their
brokerage rate, information regarding their branch network etc. From these company’s
description it is clear what these brokers provide and what is their brokerage. Then
primary data has been collected has been filled up by the people. The main focus of the
questions is on the comparative analysis of the different online brokers. This comparison
has been made on the basis of the different things like services, brokerage, product, and
branch network, tie up with banks etc.

Then recommendations and conclusion have been made on the basis of primary data,
which has also been described in detail in the project report.

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 CONTENTS

CHAPTER 1:

• OBJECTIVE OF THE STUDY/ PROJECT

• SCOPE OF STUDY/ PROJECT

• LIMITATION OF THE STUDY /PROJECT

• SOURCES OF DATA

• RESEARCH METHODOLOGY

CHAPTER 2:

• INDUSTRY PROFILE

CHAPTER 3:

• COMPANY PROFILE

• PROFILE OF OTHER BROKER FIRMS

CHAPTER 4:

 COPY OF QUETIONNAIRE

 DATA ANALYSIS AND INTERPRETATION

CHAPTER 5:

• FINDINGS OF THE STUDY/PROJECT

• SUGGESTIONS AND RECOMMENDATIONS

• BIBLIOGRAPHY

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 OBJECTIVES

 The first objective of the study is to compare the different online brokers on different
parameters.
 Services.
 Product.
 Price.
 Ease of use.
 Assessing consumers point of view in
 Returns
 Services
 charges

 Finding the strengths and weaknesses of the company.

 Future prospects of the company in comparison with other competitors.

 Finding the most preferred company by Delhi Investors.

SCOPE OF STUDY

 The study is limited to the 7 companies (India bulls, ICICI direct, India info line,
Motilal Oswal, Share khan, Kotak Securities, and Religare).
 The DELHI region has been covered during this project.
 Certain parameters like products, services, charges and returns have been used for the
analysis part.

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 LIMITATIONS

 Data collected is limited to the DELHI region.

 Study is limited to the leading companies in stock broker market.
 Information given by employees or general public might be influenced by personal
bias
 Lack of cooperation of the people was also a big limitation while conducting the
study

SOURCES OF DATA

 Personnel visit to different branches of the concerned companies.

 Magazines and newspapers.

 Web-site of the companies and other online data providers.

 Questionnaire filled up by DELHI region Investors.

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 METHODOLOGY

STEP 1:

Design of questionnaire::
The questionnaire is designed in a structured manner keeping in mind all the basic steps
for construction of a questionnaire and considering all the scales.

Sample Plan:
Information is gathered from various sampling plan:
 Offices
 Shopping malls

Sample size:
 Sample size of 100 customers is taken.

STEP 2:
Data for comparison is collected from online websites of the comparison and also by
personnel visit to different branches.

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 THE INDUSTRY PROFILE

Braudel suggests that in Cairo in the 11th century Muslim and Jewish merchants had
already set up every form of trade association and had knowledge of every method of
credit and payment, disproving the belief that these were invented later by Italians. In
12th century France the courratiers de change were concerned with managing and
regulating the debts of agricultural communities on behalf of the banks. Because these
men also traded with debts, they could be called the first brokers. In late 13th century
Bruges commodity traders gathered inside the house of a man called Van der Beurse, and
in 1309 they became the "Brugse Beurse", institutionalizing what had been, until then, an
informal meeting. The idea quickly spread around Flanders and neighboring countries
and "Beurzen" soon opened in Ghent and Amsterdam.

In the middle of the 13th century Venetian bankers began to trade in government
securities. In 1351 the Venetian government outlawed spreading rumors intended to
lower the price of government funds. Bankers in Pisa, Verona, Genoa and Florence also
began trading in government securities during the 14th century. This was only possible
because these were independent city states not ruled by a duke but a council of influential
citizens. The Dutch later started joint stock companies, which let shareholders invest in
business ventures and get a share of their profits - or losses. In 1602, the Dutch East India
Company issued the first shares on the Amsterdam Stock Exchange. It was the first
company to issue stocks and bonds.

The Amsterdam Stock Exchange (or Amsterdam Beurs) is also said to have been the first
stock exchange to introduce continuous trade in the early 17th century. The Dutch
"pioneered short selling, option trading, debt-equity swaps, merchant banking, unit trusts
and other speculative instruments, much as we know them" (Murray Sayle, "Japan Goes
Dutch", London Review of Books XXIII.7, April 5, 2001). There are now stock markets

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in virtually every developed and most developing economies, with the world's biggest
markets being in the United States, Canada, China (Hong Kong), India, UK, Germany,
France and Japan.

What Is Stock Market?

The word stock simply refers to a supply. You may have a stock of T-shirts in your closet
or a stock of pencils in your desk. In the financial market, stock refers to a supply of
money that a company has raised. This supply comes from people who have given the
company money in the hope that the company will make their money grow.
A market is a public place where things are bought and sold. The term "stock market"
refers to the business of buying and selling stock.
Or
"Stock Market" is a term that is used to refer both to the physical location for buying and
selling stocks, and to the overall activity of the market within a certain country. When
you hear "The stock market was down today," it refers to the combined activity of many
stock exchanges.
The correct term for the physical location for trading stocks is the "Stock Exchange." A
country may have many different stock exchanges. Usually a particular company's stocks
are traded on only 1 exchange, although large corporations may be listed in several.

Why Companies Issue Stock...

If a company wants to grow—maybe build more factories, hire
more people, or develop new products—it needs money. It could
get a loan from a bank. But then it would owe money. By issuing
stock, a company can raise money without going into debt. People
who buy the stock are giving the company the money it needs to
grow.
Not every company can issue stock. A business owned by one
person (a proprietorship) or a few people (a partnership) cannot
issue stock. Only a business corporation can issue stock. A

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corporation has a special legal status. Like a school, its existence
does not depend on the people who run it. Under the law it is
separate from the people associated with it, and has
special legal rights and responsibilities as well as its own unique name.
...And Why People Buy It?
Owning stock in a company means owning part of that company. Each part is known as a
share. If a company has issued 100 shares of stock, and we bought one, we own 1% of
that company. People who own stock are called stockholders, or shareholders.
Stockholders hope the company will earn money as it grows. If a company earns money,
the stockholders share the profits. Over time, people usually earn more from owning
stock than from leaving money in the bank, buying bonds, or making other investments.

WHY DO INVESTORS BUY STOCKS?

Generally, investors buy stocks because they believe that the

company will continue to grow - and thus the value of the stock
will rise too.
Buying the stocks of already well-known companies is relatively
safe, but investors who acquire stock in a new company are
facing a much more substantial risk… but they have much more
to gain too. For instance, those people who bought Microsoft
shares in the 80s and kept them for a long time saw an
exponential rise in their value - something most investors only dream of.

WHAT IF IT ISN’T LISTED ON AN EXCHANGE?

Buying partial ownership in a smaller company can still be done of course, but that will
be entirely different kind of investment, one that has nothing to do with stocks. These
types of investment are much less liquid and are much riskier. This is called a “Private
Placement” while stock on an exchange is called “Publicly Traded”.
Theoretically, publicly traded stock provides more protection because the transaction is
monitored by the Securities and Exchange board of India (SEBI). Because publicly
traded stocks must be traded on a stock exchange, an individual investor always needs a
broker who makes transactions for him. Basically, brokers are people who take orders
to buy or sell a certain stock in exchange for a small commission on the sale. (In other
words they are just glorified sales people).Stock orders may include instructions to buy or
sell stock at a certain price (Limit orders) or simply to trade them for whatever the
present price is (market orders). When the order arrives to a broker, he executes it (or
rather, tries to execute it) by finding a buyer or seller willing to trade for the ordered

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price. As you probably see, the other side of transactions is represented by another broker
acting on some instructions, too.

ADVANTAGES OF STOCKS

Stocks have several advantages over savings investments.

Since each share equals partial ownership in a company,
they give the holder some influence over every major
decision the company faces. The decisions are made on
one share - one vote basis and shareholders are often asked
to vote on all important decisions that company is to make.

What is more, being a shareholder entitles you to take part in any profits the company
makes. They are issued as a dividend once or twice a year, depending on the decision
made by company the directors. As the company grows the value of the stock rises.

When the company suffers losses you aren't asked to give anything in, but the value of
the stocks you have will almost surely fall. If you compare the stocks with classical
savings investments like bonds, bank certificates of deposit etc., you will quickly notice
that they have greater potential to earn more money quickly -- but they are much riskier
investment, as the chances of loss is real.

However if you know your share about how the stock market works and what the various
investment strategies are, you can minimize losses. Most investors find out that they do
much better business on the stock market than would be ever possible with any kind of
savings investment.

One Man, 5000 Votes?

Stockholders in a company usually have voting rights. They vote on such issues as who
will be elected to the board of directors—the group of people who oversee company
decisions—and whether to buy other companies. Stockholders typically have one vote for
each share they own. Every vote counts, but a stockholder with 5,000 shares will have
more influence on the company than someone with only one share.
Most companies have annual meetings, where stockholders cast votes and ask questions
of the company's leaders. If they cannot attend, stockholders may use an absentee ballot
to vote. Shareholders also receive quarterly and annual reports that tell them how the
company is doing.

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What Goes Up Earns Bucks

When the price of a particular stock rises, that stock is said to

be "up," meaning up in price. When the price falls, the stock
is said to have gone "down." The terms "up" and "down" are
also used to describe the rise and fall of the market as a
whole.

As a company makes money, the value of its stock goes up.

For instance, pretend you bought some shares of stock for
Rs10 each. Since you share the company's profits, if it does
well the shares might later be worth Rs15 each. You could then sell your stock and make
Rs5 on each share. If the company loses money, however, you would also share its losses.
Those Rs10 shares might each be worth Rs3 if the company fell on hard times

Of Bears and Bulls

Bears are cautious animals who don't like to move too fast.
Bulls are bold animals who might charge right ahead. An
investor is said to be "bearish" if he or she believes the
stock market will go down. A "bearish" investor will buy
stock cautiously.

A "bullish" investor believes the market will go up. He or

she will charge ahead and put more money into the market.
An investor can be bearish or bullish about a particular kind
of stock.

Likewise, the term "bear market" describes a time when stock prices have been falling on
the whole. A "bull market" is a period when stock prices are generally rising.

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STOCK EXCHANGES IN INDIA:

• Ahmadabad Stock Exchange

• Bangalore Stock Exchange
• Bhubaneswar Stock Exchange (BhSE)
• Bombay Stock Exchange (BSE)
• Calcutta Stock Exchange
• Cochin Stock Exchange
• Coimbatore Stock Exchange
• Delhi Stock Exchange Association
• Gawahati Stock Exchange
• Hyderabad Stock Exchange (HSE)
• Inter-connected Stock Exchange of
India
• Jaipur Stock Exchange
• Ludhiana Stock Exchange Association
• Madhya Pradesh Stock Exchange
• Madras Stock Exchange
• Mangalore Stock Exchange
• National Stock Exchange of India (NSE)
• OTC Exchange of India
• Pune Stock Exchange
• Saurashtra-Kutch Stock Exchange
• Uttar Pradesh Stock Association
• Vadodara Stock Exchange
• Meerut Stock Exchange
• Magadh Stock Exchange

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 MAIN STOCK EXCHANGES OF INDIA:

National Stock Exchange of India

National Stock Exchange Limited

Type: Stock exchange

Founded: November 1992
Headquarters: Mumbai, India
Website: www.nse-india.com

• The National Stock Exchange of India Limited

(NSE) is a Mumbai-based stock exchange. It is the
largest stock exchange in India and the third largest
in the world in terms of volume of transactions.
• NSE is mutually-owned by a set of leading
financial institutions, banks, insurance companies
and other financial intermediaries in India but its
ownership and management operate as separate
entities.
• As of 2006, the NSE VSAT terminals, 2799 in
total, cover more than 1500 cities across India.
• In March 2006, the NSE had a total market
capitalization of 4,380,774 crore INR making it the
second-largest stock market in South Asia in terms
of market-capitalization.

Origins

The National Stock Exchange of India was promoted by leading financial institutions at
the behest of the Government of India, and was incorporated in November 1992 as a tax-
paying company. In April 1993, it was recognized as a stock exchange under the
Securities Contracts (Regulation) Act, 1956. NSE commenced operations in the
Wholesale Debt Market (WDM) segment in June 1994. The Capital Market (Equities)

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segment of the NSE commenced operations in November 1994, while operations in the
Derivatives.

Innovations

NSE has remained in the forefront of modernization of India’s capital and financial
markets, and its pioneering efforts include:

• Being the first national, anonymous, electronic limit order book (LOB) exchange
to trade securities in India. Since the success of the NSE, existent market and new
market structures have followed the "NSE" model.
• Setting up the first clearing corporation "National Securities Clearing Corporation
Ltd." in India. NSCCL was a landmark in providing innovation on all spot equity
market (and later, derivatives market) trades in India.
• Co-promoting and setting up of National Securities Depository Limited, first
depository in India.
• Setting up of S&P CNX Nifty.
• NSE pioneered commencement of Internet Trading in February 2000, which led
to the wide popularization of the NSE in the broker community.
• Being the first exchange that, in 1996, proposed exchange traded derivatives,
particularly on an equity index, in India. After four years of policy and regulatory
debate and formulation, the NSE was permitted to start trading equity derivatives
three days after the BSE.
• The first exchange to trade ETFs (exchange traded funds) in India.

Markets

Currently, NSE has the following major segments of the capital market:
• Equity
• Futures and Options
• Retail Debt Market
• Wholesale Debt Market

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Bombay Stock Exchange

The Bombay Stock Exchange Limited (Marathi) (formerly, The Stock

Exchange, Mumbai; popularly called The Bombay Stock Exchange, or
BSE) is the oldest stock exchange in Asia. It is located at Dalal Street,
Mumbai, India.
The Bombay Stock Exchange was established in 1875. There are
around 3,500 Indian companies listed with the stock exchange, and has
a significant trading volume. At October 2006, the market
capitalization of the BSE was about Rs. 33.4 trillion (US $ 730
billion).
The BSE SENSEX (SENSITIVE INDEX), also called the "BSE 30",
is a widely used market index in India and Asia. As of 2005, it is
among the five biggest stock exchanges in the world in terms of
transactions volume.

BSE Broadcast
NDTV Profit's Screen at BSE
The BSE Broadcast is a large ticker on the wall of the BSE, which continuously displays
the latest stock quotes from the market. It will also display – on what is described as
India's and South Asia's largest video screen – India's leading business-news channel:
NDTV Profit.
This new system was unveiled on December 15, 2006, when Dr Prannoy Roy, the
Managing Director of New Delhi Television (NDTV) Ltd, struck the BSE's opening bell.
Mr. Damodaran, the Chairman of the Securities and Exchange Board of India (SEBI),
said that the ticker would provide information and analysis of the financial world.

Market Capitalization
At 17 April 2007 BSE had 2,630 companies which were being actively traded. The
cumulative market capitalization of all these companies on the same day was INR
3,588,734 Crore. The biggest company was Reliance Industries with a market
capitalization of INR 205,688 Cr.

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BSE indices

The BSE SENSEX (also known as the BSE 30) is a value-weighted index composed of
thirty scrips, with the base April 1979 = 100. The set of companies which make up the
index has been changed only a few times in the last twenty years. These companies
account for around one-fifth of the market capitalization of the BSE.
Apart from BSE SENSEX, which is the most popular stock index in India, BSE uses
other stock indices as well:
· BSE 500
· BSE 100
· BSE 200
· BSE PSU
· BSE MIDCAP
· BSE SMLCAP
· BSE BANKEX
· BSE Teck
· BSE Auto
· BSE Pharma
· BSE Fast Moving Consumer Goods (FMCG)
· BSE Consumer Durables (SYMBOL: Cons Dura)
· BSE Metal

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 COMPANY’S PROFILE

Introduction

Religare Securities Limited (RSL) is a leading equity and securities firm in India. The
company currently handles almost 4-5% of the total volumes traded on NSE and in the
realm of online trading and investments it currently holds a share of close to 8% of the
market, as per some recent published reports. The major activities and offerings of the
company today are Equity broking, Depository participant services, Portfolio
Management Services, Institutional Brokerage & Research, Investment Banking and
Corporate Finance. To broaden the gamut of services offered to its investors, the
company has also recently unveiled a new avatar of its online investment portal armed
with a host of revolutionary features

Religare Securities Limited (RSL) is a Trading cum Clearing Member (TCM) in

Capital Market & Future & Option segment of National Stock Exchange of
India Limited & in Capital Market segment of Bombay Stock Exchange
Limited & depository participant of NSDL & CDSL.

Presently, RSL has more than 250 active branches & 600 business partners spread across
the country. RSL has more than 100000 registered broking clients which includes retail,
corporate, high net worth, institutional & foreign institutional clients. Normally more
than 30000 clients trade on daily basis in RSL network. Further it has approximate 70000
clients in its DP.

Some Key Features:

1. Religare h as been constantly innovating in terms of product and services and to

offer such incisive services to specific user segments it has also started the NRI,
FII, HNI and Corporate Servicing groups. These groups take all the portfolio
investment decisions depending upon a client’s risk / return parameter.
2. Religare has a very credible research and analysis division, which not only caters
to the need of our institutional clientele but also gives their valuable inputs to
investment dealers.

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 3. Religare is also giving in house depository services to its clientele and is one of
the leading depository service providers in the country.
4. In a span of less than five years of its retail operations, RSL has recorded a
healthy growth rate both in business volumes and profitability which is clearly
significant from the growth of its foot prints across India.

Offerings

Equities and Derivatives

Trading in equities at Religare has been customized to one’s investment need. A highly
process driven, diligent approach backed by powerful Research & Analytics and state of
the art dealing rooms ensures superlative experience. Further, Religare also has one of
the largest retail networks, with its presence in more than 900 locations across more than
320 towns & cities. Religare provides branch trading and each and every client is assisted
by its highly skilled and dedicated relationships managers. It also provides the freedom of
trading at clients place by online trading.

Depository Services
Religare is among the few major Depository Participants holding securities worth more
than Rs.6000 crore under its management. RSL (Religare Securities Limited) provides
depository services to investors as a Depository Participant with NSDL and CDSL.

The Depository system in India links issuers, depository participants, depositories

National Securities Depository Limited (NSDL) and Central Depository Services (India)
Limited (CDSL) and clearing house / clearing corporation of stock exchanges. These
facilitate holding of securities in dematerialized form and securities transactions are
processed by means of account transfers.

Portfolio Management System

Portfolio Management Service is a magnum opus banquet laid by Religare to address the
varying investment preferences. A focused service, PMS pays attention to details, and
portfolios are customized to suit the unique requirements of investors.

Religare PMS currently operates four portfolio management schemes, viz Panther,
Tortoise, Elephant, and Caterpillar. Each scheme is designed keeping in mind the varying
tastes, objectives and risk tolerance of our investors

International Advisory Fund Management Services (AFMS)

Religare provides its wealth clients an opportunity to invest in international financial
instruments (currently limited to the US). Equities, Mutual Funds and Debts are some the
key instruments available and the clients have the option to choose from various asset
allocation modules.

Institutional Broking Services

The mission of this division is to institutionalize and implement a process driven
approach to cater to the needs of leading corporate houses and institutions.

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The division is structured as a separate SBU and is housed out of Mumbai, manned by a
small yet fleet footed and extremely skilled group of top notch professionals drawn from
the best in the industry.

Investment Banking
Religare provides innovative, integrated and best-fit solutions to its corporate customers.
Religare continuously endeavor to provide value enhancement through diverse financial
solutions on an on-going basis, through offerings like corporate debt, private equity, IPO,
ECB, FCCB, GDR/ADR etc.

Strengths of Religare

Experience
RSL is a leading stock broking outfit in the country providing an efficient trading
platform for on- line (e-broking) & off-line (CTCL based) stock broking to its retail and
institutional clients through its offices spread across the country or through Internet
across the globe.

Technology
With our online trading account one can buy and sell shares in an instant from any PC
with an internet connection. You will get access to our powerful online trading tools that
will help you take complete control over your investment in shares.

Accessibility
Religare provides ADVICE, EDUCATION, TOOLS AND EXECUTION services for
investors. These services are accessible through our centers across the country (Over
1300 locations in 400 towns and cities), over the internet (through the website
www.religaresecurities.com) as well as over the Voice Tool.
Knowledge
In a business where the right information at the right time can translate into direct profits,
you get access to a wide range of information on our content-rich portal,
www.religaresecurities.com. You will also get a useful set of knowledge-based tools that
will empower you to take informed decisions.
Convenience
You can call our Dial-N-Trade number to get investment advice and execute your
transactions. We have a dedicated call-centre to provide this service via a toll free
number from anywhere in India.
Customer Service
Our customer service team will assist you for any help that you need relating to
transactions, billing, demat and other queries. Our customer service can be contracted via
a toll-free number, email or live chat on www.religaresecurities.com.

Investment Advice

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Religare has dedicated research teams for fundamental and technical research. Our
analysts constantly track the pulse of the market and provide timely investment advice to
you in the form of daily research emails, online chat, printed reports and SMS on your
phone.

Benefits
 Secure Order by Voice Tool Dial-n-Trade.
 Automated Portfolio to keep track of the value of your actual purchases.
 24x7 Voice Tool access to your trading account.
 Personalized Price and Account Alerts delivered instantly to your Cell Phone &
E-mail address.
 Special Personal Inbox for order and trade confirmations.
 On-line Customer Service via Web Chat.
 Anytime Ordering.

Product Profile

RALLY-LITE
This account allows the client to trade through our website www.religaresecurities.com
and is suitable for the retail investor who is risk-averse and hence prefers to invest in
stocks or who do not trade too frequently.

Features
 Online trading account for investing in Equity and Derivatives via
www.religaresecurities.com
 Live Terminal (NSE Online, BSE Online)
 Integration of On-line trading, Saving Bank and Demat Account.
 Instant cash transfer facility against purchase & sale of shares.
 Competitive transaction charges.
 Instant order and trade confirmation by E-mail.
 Streaming Quotes.(Cash & Derivatives)
 Personalized market watch.
 Single screen interface for Cash and derivatives and more.
 Provision to enter price trigger and view the same online in market watch.

RALLY-PRO
This account allows client to use ODIN software which is an internet-based software
application that enables you to buy and sell in an instant. It is ideal for active traders and
jobbers who transact frequently during day’s session to capitalize on intra-day price
movement.

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 Features
 Instant order Execution and Confirmation.
 Single screen trading terminal.(NSE Online, BSE Online)
 Technical Studies
 Multiple Charting
 Real-time streaming quotes, tic-by-tic charts.
 Market summary (Cost traded scrip, highest value etc.)
 Hot keys similar to broker’s terminal.
 Alerts and reminders.
 Back-up facility to place trades on Direct Phone lines.

RALLY
It is like a Dial-n-trade service where you can place your orders on phone or else you go
to office and trade with our dedicated relationship managers. The RALLY-PRO and
RALLY-LITE ACCOUNT also gives you this service free of cost. With this service, all
you have to do is dial our dedicated toll free phone lines.

Product Pricing

Charge RALLY RALLY-PRO RALLY-LITE

Type Cash and F&O Cash and F&O Cash and F&O
Special rate of
Account Opening Rs. 500/- Rs.500/- +Rs. 1800/-* Rs. 5000/-(minimum
(for software) balance to be maintained)
Annual
maintenance Rs.250/- Rs.250/- Rs.250/-
Charge
Rate of Intraday-0.03% Intraday-0.03% Intraday-0.03%
Brokerages** Delivery-0.3% Delivery-0.3% Delivery-0.3%

* Refundable in case the brokerage is equal to or more than Rs.1800/= p.m.

** Brokerage is negotiable as per trading volume.

NOTE:-

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  Service taxes as per government are not included in the brokerage.
 Exposure: 8 to 10 times (on margin money) for intraday and 4 to 5 times on
delivery.
 Tie up with ICICI, HDFC, CITI and AXIS bank for online money transfer.
 T+2 settlements followed which can further extend to T+5.

Value Adds
• Access your ledger balances and account information over internet and at the
branch Help
• Browser and application based platforms can also be made available for equity
trading
• Access to all your accounts through your unique Customer Relationship Number
(CRN)

The Religare Edge

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

OTHER ONLINE STOCK BROKERS:

 ICICI direct
 SHARE KHAN
 MOTILAL OSWAL
 KOTAK SECURITIES
 INDIABULLS SECURITIES
 5PAISA (INDIA INFOLINE)

- 24 -
ABOUT INDIABULLS
India bulls are India’s leading Financial Services Company having over 640 branches all
over India. It assists in the financial needs of more than 4,50,000 customers with its wide
range of financial services and products from securities, derivatives trading, depositary
services, research & advisory services, consumer secured & unsecured credit, loan
against shares and mortgage & housing finance. With around 4000 Relationship
Managers, India bulls help its clients to satisfy their customized financial goals. India
bulls through its group companies have entered Indian Real Estate business in 2005.

MARKET CAPITALIZATION AND WORTH

India bulls Financial Services Ltd is listed on the National Stock Exchange, Bombay
Stock Exchange and Luxembourg Stock Exchange. The market capitalization of India
bulls is around USD 2500 million (29th December 2006). Consolidated net worth of the
group is around USD 700 million. India bulls and its group companies have attracted
USD 500 million of equity capital in Foreign Direct
Investment (FDI) since March 2000. Some of the large
shareholders of Indiabulls are the largest financial institutions
of the world such as Fidelity Funds, Goldman Sachs, Merrill
Lynch, Morgan Stanley and Farallon Capital.
Business of the company has grown in leaps and bounds
since its inception. Revenue of the company grew at a CAGR
of 184% from FY03 to FY06. During the same period, profits
of the company grew at a CAGR of 268%.
India bulls became the first company to bring FDI in Indian Real Estate through a JV
with Farallon Capital Management LLC, a respected US based investment firm. India
bulls has demonstrated deep understanding and commitment to Indian Real Estate market
by winning competitive bids for landmark properties in Mumbai and Delhi. In April
2006, India bulls announced demerger of its real estate division to a separate entity.

Indiabulls is a diversified company.

It is in the following fields:

- 25 -
Securities
Consumer Finance
Mortgages
Real Estate Development

Consumer Finance
Indiabulls is a retail focused organization fulfilling the credit need of a large percentage
of population in India. The key aspect of Indiabulls business model is to provide an
extremely unique customer experience. The blend of power of the Internet with
personalized services allows Indiabulls to expand its geographical coverage and capture a
greater share in the highly competitive retail market. They offer consumer loans, home
loans, personal loans, securities brokerage, and other financial products and services to
retail customers from across 640 Indiabulls offices in 127 leading cities of the country.

Mortgages
Indiabulls has commenced lending of Mortgage Loans to prospective customers under
the flagship of Indiabulls Housing Finance Ltd. They enable home-seekers to access
finance to buy their homes.

They also provide plot loans, Loan against Residential, Commercial and Rental Property,
thereby enabling the borrower to leverage the property owned to fund any legitimate
needs be it Business Expansion, Child's Education, Child's Marriage or for Holiday
Abroad

Real Estate Development

Indiabulls Real Estate Limited (IREL) is poised to be one of the largest listed real estate
companies in India. A leading player across residential and commercial real estate
projects, IREL is partners with internationally acclaimed consultants, for its
developments. Currently, its projects at various stages of execution are valued at nearly 5
billion dollars and they include high end office and commercial spaces, premium
residential developments, and Special Economic Zones, covering a land area in excess of
7730 acres.

Major Stake Holders in Indiabulls

LN Mittal and Farallon Capital buy 13.33% in Indiabulls Infrastructure
Development Limited for 447 crores valuing subsidiary at Rs
3,350 crore.
• Mr. L N Mittal, the famous steel magnate and world’s third
richest man, and a wholly owned unit of San Francisco based
Farallon Capital, the world’s largest investment fund, have
together acquired a 13.33% stake in Indiabulls Infrastructure
Development Limited, the majority owned subsidiary of

- 26 -
 Indiabulls Financial Services Limited, for Rs 447 crores. The deal values
Indiabulls Infrastructure Development Limited at Rs 3,350 crores.

• Indiabulls Infrastructure Development Limited would be undertaking large scale

infrastructure projects and development of Special Economic Zones to cater to
Fortune 500 companies that are interested in setting up manufacturing units in
India to leverage advantages of vast skilled workforce of India.

• Mr. L N Mittal has been an investor in Indiabulls Financial Services, the listed
company since the year 2000 when he had originally bought 61.3 lac shares
representing approx 7.52% stake in the company at an average price of Rs 6 per
share.

• Mr. Mittal’s original investment in Indiabulls Financial Services has appreciated

by more than 90 times in 6 years, and he continues to be a large shareholder in the
company. Around 6 months back Mr L N Mittal had invested approx Rs 90 crores
to buy 8.4 % stake in Indiabulls Credit Services Ltd, an unlisted subsidiary of
Indiabulls Financial Services that focuses on consumer loans.

• Farallon Capital has been an investor in Indiabulls Financial Services since the
IPO of the company in year 2004, when it invested at Rs 19 per share and has
seen its initial investment multiply over 25 times. The firm continues to be one of
the largest shareholders of the Company.

• Indiabulls Infrastructure Development Limited is focused on infrastructure

development in India and plans to build world-class facilities and infrastructure to
promote the business activities for SEZs.

IIDL will be part of the group of real estate subsidiaries and associates that will form
Indiabulls Real Estate Limited subsequent to the implementation of the Scheme of
Demerger.
The demerger is expected to be completed during the current fiscal quarter, band will
result in the Company’s equity shareholders owning one equity share of Indiabulls
Financial Services Limited, comprising of the financial services business, and one equity
share of Indiabulls Real Estate Limited, comprising of the real estate and construction-
development related business, for each share of the Company they currently own.
“India is a rapidly growing economy and provides a unique opportunity to create world-
class infrastructure and development. Indiabulls group is well positioned in construction-
development and infrastructure market to leverage Indiabulls strong pan-India presence,
strong execution skills, proprietary deal pipeline, and strong track record. The confidence
of Mr. Mittal, a world renowned entrepreneur and investor, and Farallon Capital, one of
the world’s top most funds, in Indiabulls Infrastructure Development Limited is a
testament to the huge opportunity in front of the company,”
: Sameer Gehlaut, Chairman & CEO of Indiabulls Group.

About Farallon

- 27 -
San Francisco based Farallon is a registered investment adviser with the US Securities and
Exchange Commission (SEC) and manages over $ 23 billion in equity capital invested across the
world in many different asset classes.
Farallon has a long and successful track record of investing in financial services. In 2002,
Farallon had outbid UK’s Standard Chartered bank to buy Bank Central Asia from the Indonesian
Government during the privatization of the bank.

The Institutional Investor ranks Farallon at No 1 position in the world in their annual rankings of
funds.

Growth Story
Indiabulls has emerged as one of the leading and fastest growing financial company in less than
two year, since its initial public offering in September 2004. It has a market capitalization of
around 2,350 million (25th April 2007) and consolidated net worth of the group is around USD
510 million.2000-01

Indiabulls Financial Services Ltd. established India’s one of the first trading platforms with the
development of an in house team.

• 2001-03 Indiabulls expands its service offerings to include Equity, F&O, Wholesale
Debt, Mutual fund, IPO distribution and Equity Research.

• 2003-04 Indiabulls ventured into Insurance distribution and commodities trading.

Company focused on brand building and franchise model.

• 2004-05 Indiabulls came out with its initial public offer (IPO) in September
2004.Indiabulls started its consumer finance business. Indiabulls entered the Indian Real
Estate market and became the first company to bring FDI in Indian Real Estate.
Indiabulls won bids for landmark properties in Mumbai.

• 2005-06 Indiabulls has acquired over 115 acres of land in Sonepat for residential home
site development.

• Merrill Lynch and Goldman sac, one of the renowned investment banks in the world have
increased their shareholding in Indiabulls. Indiabulls is a market leader in securities
brokerage industry, With around 31% share in online trading, Farallon Capital and its
affiliates, the world’s largest hedge fund committed Rs. 2000 million for Indiabulls
subsidiaries Viz. Indiabulls Credit Services Ltd. and Indiabulls Housing Finance Ltd.
Steel Tycoon Mr. LN Mittal promoted LNM India Internet venture Ltd. acquired 8.2%
stake in Indiabulls Credit Services Ltd.

• 2006-07 Indiabulls entered in a 50/50 joint venture with DLF, Kenneth Builders &
Developers (KBD). KBD has acquired 35.8 acres of land from Delhi Development
Authority through a competitive bidding process for Rs 450 crore to develop residential
apartments.

• Indiabulls Financial Services Ltd. is included in the prestigious Morgan Stanley Capital
International Index (MSCI). Farallon Capital has agreed to invest Rs. 6,440 million in
Indiabulls Financial Services Ltd.

- 28 -
 • Indiabulls ventured into commodity brokerage business. Indiabulls has received an “in
principle approval” from Government of India for development of multi product SEZ in
the state of Maharashtra. Dev Property Development plc has subscribed to new shares
and has also acquired a minority shareholding from the Company. Indiabulls Financial
Services Ltd. Board resolves to Amalgamate Indiabulls Credit Services Limited and
demerge Indiabulls Securities Limited.

ICICIDirect.com

ICICIdirect.com India’s leading share

trading website, with over 1 lakh
customers. ICICIdirect.com comes from
ICICI, an organization that millions of Indians trust.

ICICIdirect.com offers hassle free share trading. It places you in charge of your
investments, with its unique 3-in-1 account.

You can check stock prices online, place a buy/sell order almost instantly, verify orders
and get order confirmations online. And you not need to chase your broker for share
transfers and payments, it all happens electronically.

Services

With ICICIdirect.com unique 3-in-1 account, your e-broking, banking and demat
accounts are completely integrated.

 So when we punch in a buy or a sell trade on your computer, the system checks the
limit available in your bank account, the demat portfolio and then executes the trade
on the exchange online.
 The bank account and the demat account automatically get debited or credited on
settlement date. Thus, you are in charge of your own investments. You do not need to
follow up your broker for payments and for share transfers.

What are the charges for your product?

• ICICIdirect.com account can be opened for a one-time non-refundable fee of Rs

750/-.
• The brokerage rates are very reasonable. The rates vary according to the volume of
trades done by you.

The brokerages rates of ICICIdirect.com are inclusive of demat transaction charges,

service taxes and courier charges for contract notes.

- 29 -
• It ranges from 0.03% to 0.1% for margin trades, 0.2% to 0.425% for squared off
trades and 0.25% to 0.75% on delivery based trades.
• To give an idea, an investor having a daily average trading volume of Rs
65000/- will be paying an effective brokerage of 0.50% only , and that too inclusive of
all charges.

• Demat account charges: For all trades done through ICICIdirect.com, there are
NO separate charges. However, for all other trades and services like demat, pledge etc,
the charges shall be as per the existing rate card of ICICI demat. An annual
maintenance fee of Rs.500/- (Rs.450/- for customers receiving statement by e-mail)
per account is charged. However, the first year annual maintenance charges are
waived for on all accounts opened through ICICIdirect.com.
• For bank account, a minimum quarterly average balance of Rs 5000/- needs to be
maintained.

Why should one open an account with ICICIdirect.com?

The reasons are as follows:

 The brokerages rates of ICICIdirect.com are inclusive of demat transaction charges,

service taxes and courier charges for contract notes.

 Brokerage rates on ICICIdirect.com are dependant on the volume of transactions done

and also the type of trade put in by you. As mentioned earlier, investors with reasonable
trading volumes anyways get less than 0.5% brokerages (all inclusive).

Even if we assume very low volumes of trading and that too only on Delivery based trading,
brokerage rates are still economical. Let us take an example

- 30 -
 ICICIdirect Other broker
Normal brokerage 0.85% max Lets say 0.50%
A Transaction value 10000 10000
B Brokerage (Rs.) 85.00 50.00
C Service Tax (5% of B) NIL 2.50
D Other charges (0.03% of A) NIL 3.00
E Demat charges NIL 25.00
F Total charges (Rs.) B+C+D+E 85.00 80.50

How much do we pay for an average demat transaction?

ICICI demat has a Market Buy rate of 0.03% or Rs 25/-, whichever is higher, for
EVERY trade. If we calculate, an investor has to buy at least up to Rs 83333/- worth of
shares to pay 0.03% in EVERY Trade. Obviously not many people pay 0.03%. They
pay Rs 25/- instead.

 Suppose an average person trades in Rs10000/- in every trade, he shall pay Rs 25/-
for demat charges. This comes to 0. 25% of his trade amount.
 So he pays at least 0.75% and not 0.50%. Add other charges to this and it will go up
to at least 0.80%. On top of it, one may incur the local conveyance directly or
indirectly in collecting/sending cheques/TIFDs with the broker concerned.
 Add to this, ICICIdirect credits the funds to your bank account on the pay-out day
itself (one can even withdraw it on the same day).

To summarize, ICICIdirect.com ensures a hassle free, fast, transparent, easy and

trustworthy service at reasonable rates. More it also gives you latest market updates,
live quotes and market charts to help you GET CONTROL of your own trade.

- 31 -
 MOTILAL OSWAL
Motilal Oswal Financial Services is a well
diversified financial services group having
businesses in securities, commodities, investment
banking and venture capital With 1160 Business
locations and more than 2, 00,000 investors in over
360 cities.
Motilal Oswal is well suited to handle all our wealth creation and wealth
management needs.
The company has in the last year placed 9.48% with two leading private equity
investors
 New Vernon Private Equity Limited
 Bessemer Venture Partners
At post money company valuation of Rs. 1345 crore. (Rs. 13.45 billion).

Motilal Oswal Financial Services Ltd., consists of four companies:

1. Motilal Oswal Investment Advisors Pvt. Ltd.

2.Motilal Oswal Commodities Broker (P) Ltd.

3. Motilal Oswal Venture Capital Advisors Private Limited

4.Motilal Oswal Securities Ltd. (Most) is a leading research and advisory based
stock broking house of India, with a dominant position in both institutional equities
and retail wealth management. Their services include equities, derivatives, e-
broking, portfolio management, mutual funds, commodities, IPO’s and depository
services.

Motilal Oswal Securities Ltd. was founded in 1987 as a small sub-broking unit,
with just two people running the show. Focus on customer-first-attitude, ethical and
transparent business practices, respect for professionalism, research-based value

- 32 -
investing and implementation of cutting-edge technology have enabled them to
blossom into an almost two thousand-member team. Their institutional business
unit has relationships with almost all leading foreign institutional investors (FIIs) in
the US, UK, Hong Kong and Singapore.

Most EAG

In keeping with its tradition of personalized service, Motilal Oswal Securities

Limited set up Most EAG to provide customized and integrated equity solutions to
High Net worth Investors like you.

Equity Research is an inherent strength of Most. They believe in picking

investment opportunities where the underlying value is higher than the market
price.

Most EAG team has highly trained equity professionals, who act as your
Relationship Managers (RMs). Most RMs proactively help you take informed
equity investment decisions and build a healthy portfolio.

1Paisa Trading

Online trading just got better with My Broker - the online trading service from
Motilal Oswal. We can trade in derivatives for a brokerage fee as low as 1 paisa per
Rs.100. (0.01%).

- 33 -
 KOTAK SECURITIES

Kotak Securities Ltd. is India's leading stock broking house with a market share of
close to 9 % as on 31st March 2007. Kotak Securities Ltd. has been the largest in
IPO distribution.

The accolades that Kodak Securities has been graced with include

 Euro money Award (2006 & 2007) - Best Provider of Portfolio Management :
Equities

 Asia money Award (2006)- Best Broker In India.

 Euro money Award Finance India Asia Award (2005)-Best Broker In India
(2005)-Best Equities House In India

 Finance Asia Award (2004)- India's best Equity House

 Prime Ranking Award (2003-04)- Largest Distributor of IPO’s

Other achievements

 The company has a full-fledged research division involved in Macro

Economic studies, Sect oral research and Company Specific Equity Research
combined with a strong and well networked sales force which helps deliver current
and up to date market information and news.

- 34 -
 Kotak Securities Ltd is also a depository participant with National Securities
Depository Limited (NSDL) and Central Depository Services Limited (CDSL),
providing dual benefit services wherein the investors can use the brokerage services
of the company for executing the transactions and the depository services for
settling them.

 Kotak Securities has 813 outlets servicing more than 3, 15,000 customers and
coverage of 277 Cities. Kotaksecurities.com, the online division of Kotak
Securities Limited offers Internet Broking services and also online IPO and Mutual
Fund Investments.

 Kotak Securities Limited manages assets around 2300 crores of Assets under
Management (AUM) .The portfolio Management Services provide top class
service, catering to the high end of the market. Portfolio Management from Kotak
Securities comes as an answer to those who would like to grow exponentially on
the crest of the stock market, with the backing of an expert.

Kotak Securities has the following areas of business:

• Institutional Stock Broking

• Private Client Services

• Client Money Management

• Retail distribution

• Depository Services

Trading Gateway

Kotak Securities Gateway Account opens the gateway to a world of investing

opportunities. We may be anywhere, anytime and still manage to place your trades
using the Internet or our Call and Trade Facility. Open the Kotak Securities
Gateway Account and get started.

Special service charges:

- 35 -
 Access K.E.A, T Desktop free of cost and K.E.A.T Premium for
Rs.500/-per month. Get kotak securities SMS alerts @Rs100/- per month. Call and
trade free for first 20 calls. From the 21call, we pay Rs20/-per call. Margin finance
at 20%.

 The brokerages charged are as per the volumes that are achieved. Based
on these volumes a client can be either debited or credited an amount, which is as
per the volumes he/she may achieve at the end of the month

SHARE KHAN

Share khan, one of India's leading brokerage houses, is the

with over 510 share shops in 170 cities, and India's premier
online trading portal www.sharekhan.com.

Services offered
 Personalized Advice
 Live Market Information
 Depository Services: Demat Transactions
 Derivatives Trading (Futures and Options

A Share khan outlet also offers the following services:

 Online BSE and NSE executions (through BOLT & NEAT terminals)
 Free access to investment advice from Share khan’s Research team
Share khan Value Line
 Daily research reports and market review (High Noon & Eagle Eye)
 Pre-market Report (Morning Cuppa)
 Daily trading calls based on Technical Analysis
 Cool trading products (Daring Derivatives and Market Strategy)
 IPO’s & Mutual Funds Distribution
 Internet-based Online Trading: Speed Trade

Charges

Account Opening Nil

- 36 -
Annual Maintenance Charges Rs.300 p.a

Brokerage Minimum Brokerage of Rs. 20/

Account Closing Nil

Off market transfer transaction. (Min.Rs.30)

Dematerialization Rs.5 per certificate

Pledge Creation 0.02% of the value of the transaction (Min Rs.50)

Freeze/De-freeze Rs.25 Per request

Advance Rs.500 Advance which will be adjusted

INDIA INFOLINE

India Infoline Ltd

India Info line Ltd is listed on both the leading stock exchanges in India, viz. the Stock
Exchange, Mumbai (BSE) and the National Stock Exchange (NSE).

The India Info line group, comprising the holding company, India Info line Ltd and its
subsidiaries, straddles the entire financial services space with offerings ranging from
Equity research, Equities and derivatives trading, Commodities trading, Portfolio
Management Services, Mutual Funds, Life Insurance, Fixed deposits, GoI bonds and
other small savings instruments to loan products and Investment banking. India Infoline
also owns and manages the websites,www.indiainfoline.comand www.5paisa.com .

India Infoline Investment Services Ltd

India info line investment services ltd is also a 100% subsidiary of India info line ltd. It
has an NBFC license from the reserve bank of India (RBI) and offers margin funding
facility to the broking customers.

India Infoline Securities Pvt Ltd

India Infoline Securities Pvt Ltd is a 100% subsidiary of India Infoline Ltd, which is
engaged in the businesses of Equities broking and Portfolio Management Services. It
holds memberships of both the leading stock exchanges of India viz. the Stock Exchange,
Mumbai (BSE) and the National Stock Exchange (NSE). It offers broking services in the
Cash and Derivatives segments of the NSE as well as the Cash segment of the BSE.

- 37 -
A SEBI authorized Portfolio Manager; it offers Portfolio Management Services to
clients. These services are offered to clients as different schemes, which are based
on differing investment strategies made to reflect the varied risk-return preferences
of clients.

• India Infoline Distribution Co Ltd (IILD)

India Infoline Insurance Services Ltd

India Infoline Insurance Brokers Ltd

Equities

Over the last five years, India Infoline sharpened its competitive edge through the
following initiatives:
 The company is among the few financial intermediaries in India to offer a
complement of online and offline broking. The company’s network of branches
allows customers to place orders on phone or by visit.
 The customer can trade on the BSE and NSE, in the cash as well as the derivatives
segment all through the available multiple options of Internet, phone or branch
presence.

 The Company harnessed technology to offer services at among the lowest rates in the
business. Membership: The Company widened client reach in trading on the domestic
and international exchanges.

 The Company provides a prudent mix of proprietary and outsourced technologies,

which facilitate business growth without a corresponding increase in costs.

 The Company has leveraged its research capability to provide regular updates and
investment picks across the short and long-term.

 Clients can access the customer service team through various media like toll-free
lines, emails and Internet- messenger chat for instant query resolution. The
Company’s customer service executives proactively contact customers to inform
them of key changes and initiatives taken by the Company. Business World rated
the Company’s customer service as ‘Best’ in their survey of online trading sites
carried out in December 2003.

- 38 -
Key features

 Membership on the Bombay Stock Exchange Limited and the National Stock
Exchange

 Registered with the NSDL as well as CDSL as a depository participant, providing

a one-stop solution for clients trading in the equities market

 Broking services in cash and derivative segments, online as well as offline under
the brand of 5paisa.com

 Presence across 19 states through a 177 strong branch network, with 75,000
online registered users

 Provision of free and world-class research to all clients.

5paisa Trader terminal

Trader Terminal is almost a substitute for NSE NEAT terminal and VSAT. In fact, it
has many more powerful features that only a premium trader can appreciate. Target
customer segments are

• It is for dedicated day traders, who churn their portfolio on minor movements in
the market, sometimes several times a day. Their rapid and high volume trading
requires a powerful interface for lightening fast order execution.
• High Net worth Individuals with large and active equities portfolio who need to
monitor and action swiftly.
• Large corporate or trusts who have dedicated staff to monitor, analyze and shuffle
their portfolios

- 39 -
 SCHEDULE OF CHARGES:

BROKING SERVICE

Lifetime Scheme

One time registration fees Rs 555

Annual membership fees NIL

Quarterly membership fees NIL

Monthly membership fees NIL

BROKERAGE (CASH)

Intra Day 0.10%

Delivery; Normal settlement 0.50%

Delivery: Trade for Trade and Z group scrip 0.10%

BROKERAGE (FUTURE) 0.10%

Brokerage (option) 1%of premium or RS 50/-per lot

which ever is higher

- 40 -
 DEPOSITORY SETRVICES

Lifetime Scheme

Annual maintenance NIL

Credit transaction NIL

Debit Transactions 0.05%

Pledge creation (per/instruction) Rs. 50

QUESTIONNAIRE

1. Do you invest in equity?

• Yes
• No

2. If no, would you like to invest in future?

• Yes
• No

3. If yes do you have demat account

• Yes
• No

If yes, then
a) Where do you have the account------------?
b) What are the account opening charges------------?

4. Do you have a trading account?

• Yes
• No

If yes, then

- 41 -
 a) Where do you have the account------------?
b) What are the account opening charges------------?

5. How much exposure do you get on your funds___________?

6. Do you pay any phone transaction charges?

• Yes
• No

7. What are your brokerage charges_________?

8. How do you collect your cheque_____________?

9. Are you satisfied about the services of your existing broker?

• Yes
• No

Analysis of Questionnaire
1.
100

80

60
yes
40 no

20

2.

100

80

60
yes
40 no

20

- 42 -
3. a)
25
religare
20 india bulls

15 m os
iil
10
kotak
5 sharekhan
icici
0

3. b)

800
700 religare
600 india bulls
500 mos
400 iil
300 kotak
200 sharekhan
100 icici
0

4.
100

80

60
yes
40 no

20

- 43 -
5.
25

religare
20
india bulls
15 mos
iil
10 kotak
sharekhan
5
icici
0

6.

20

religare
15 india bulls
mos
10 iil
kotak
5 sharekhan
icici
0

7.

Company 1.5-15 2-20 2.5-25 3-30 5-50

Religare 7 9 2 1

Indiabulls 2 2 9 5 3

Motilal 4 6

- 44 -
 oswal

India info 6 3 2
line
Kotak 5 4

Sharekhan 2 5 7 4

Icici direct 4 6 2

8.

Company Manually Post Courier

Religare 19

Indiabulls 21

Motilal oswal 10

India info 11
line
Kotak 9

Sharekhan 18

Icici direct 12

- 45 -
9.
20

religare
15
india bulls
mos
10
iil
kotak
5
sharekhan
icici
0
satisfied unsatisfied

Conclusion

• The first thing which we concluded from the primary data and other facts is
that most people have a very high concern about brokerages. So, going by this
fact India bulls & Religare are making a good mark in the market, whereas
SHAREKHAN stands middle in the race. So, RELIGARE has a great
advantage of lower rate of brokerages.

• In services, tips and returns also have an impact on users. So considering

these, all clients of Religare are satisfied with the company, and next in line
comes the India Infoline. Therefore, India bulls and Religare are close rivals
in the market, while India Infoline and Share khan are still making a mark.

• The second thing, which we have revealed from the above study, is that,
Relationship Manager’s services are influencing people a lot. But most of the
people who are using these services are those who don’t have much time.
Therefore all the big giants are providing these services to stand aside in the

- 46 -
 market. Whereas local brokers are not providing these services and this is one
of the main reasons of their low market holding.

Bibliography
WEBSITES:
1. www.investopedia.com
2. www.my iris.com
3. www.valueresearchonline.com
4. www.computronicsindia.com
5. www.money control.com
6. www.India earning.com
7. www.msfinancialsavvy.com
8. www.mfea.com
9. www.amfiindia.com

NEWSPAPERS:
• THE ECONOMIC TIMES

BOOKS & MAGAZINES:

• BUSINESS STANDARD
• MARKETING MANAGEMENT (KOTLER)

- 47 -
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