APS UNIVERSITY

SUBMITTED BY BRAJESH KUMAR CHATURVEDI

PROJECT REPORT ON TOPIC-

A STUDY ON SERVICES PROVIDED BY KARVY AND CUSTOMER PREFRENCES TOWARDS THERE SERVICES WITH REFRENCE TO REWA CITY.

Date: From May10, 2011 June 30, 2011 BY

BRAJESH KUMAR CHATURVEDI DBA.APSU REWA

A PROJECT REPORT
2

ON
TITLE A STUDY ON SERVICES PROVIDED BY KARVY AND CUSTOMER PREFRENCES TOWARDS THERE SERVICES WITH REFRENCE TO REWA CITY.

BY
BRAJESH KUMAR CHATURVEDI MBA PROGRAM (10-12) A REPORT SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENT OF PG PROGRAM (CLASS OF 2011) DBA.APSU REWA REWA (MADHYA PRADESH)

ACKNOWLEGEMENT
Before describing about my project I would like to thank all the people who have guided me one way or another, in successful completion.
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I sincerely express my gratitude to KARVY STOCK BROKING LTD for providing me necessary resources for completion of this project. My heartiest thanks go to my faculty guide Mr. GYANENDRA MISHRA under whose able guidance I worked on the project and again I wish to thank for giving her extreme help and moral support while preparing project and extending their full co-operation for the successful completion of this project sincerity at the evaluation. I am also thankful to all the staff members for giving their remarkable contribution their organization and special thanks for taking me with themselves as a trainee and teach me the facts that are most useful. I wish to express my gratitude to all those who guided, inspired and helped me in the completion of this project.

Faculty Supervisor Date:

Campus Head Date:

CERTIFICATE

This is to certify that the Management Thesis titled A STUDY ON SERVICES PROVIDED BY KARVY AND CUSTOMER PREFRENCES TOWARDS THERE SERVICES WITH REFRENCE TO REWA CITY.Submitted during Semester IInd the MBA Program (The Class of 2011) embodies original work done by me.

Signature of the Student

Name (in Capitals) Campus

: BRAJESH KUMAR CHATURVEDI : REWA

Signature of the Faculty Supervisor

Name (in Capitals) Designation Campus : : : MR. GYANENDRA MISHRA
FINANCE & DISTRIBUTION FACULTY

REWA

TABLE OF CONTENT
1. Acknowledgements

2.

List of Tables & Illustrations

3. Abbreviations
4.

Abstract /Summary Introduction1.1 1.2 Objectives Limitations

5.

6. Review of literature 7. Research Design/ Methodology 8. Results and Analysis

9.

Discussion of implications

10. Conclusions and/or Recommendations 11. References

ABBREVIATIONS
CDP- Central Depository (Pte) Ltd.

DB-Development Bank of Singapore DCSS-Debt Securities Clearing and Settlement System IDAS-Institutional Delivery Affirmation System MA S-Monetary Authority of Singapore MEPS-MAS Electronic Payment System MLA-Minimum Liquid Asset NETS-Network for Electronic Transfers (Singapore) Pte Ltd. NCC-EIS National Clearing Center NIS-National Interbank System NPC-CNAPS National Processing Center NSP-Not Settlement File Queue PBOC-The People's Bank of China BGS-Bank Giro System BO-The Bank of Korea BOK-Wire Bank of Korea Financial Wire Network The CCS-Cheque Clearing System FSC-Financial Supervisory Commission INAS\The Institutional Affirmation & Settlement System

ABSTRACT
KARVY a premier integrated financial services company which has, over the years, firmly entrenched its name into various segments of the financial services industry. Backed by a sound state-of-the-art technology and a highly motivated employee force, Karvy has carved a niche for itself and is ranked among the top companies in the area of financial services. It has a wide network of 35 Branches and 93 customer service points, which give Karvy a tremendous mileage in being close to the retail customer. All of Karvy services are also backed by strong quality aspects, which have helped Karvy to be certified as an ISO 9002 Company by DNV. Apart from being the largest Registrar in the country, we are also a registered Depository Participant with NSDL and CDSL, and ranked among the top 5 Depository Participants in the country. We offer these services at about 50 locations across the country and are one of the most widely networked Depository Participants. We are Stock Brokers and are Registered Members of the National Stock Exchange and the Hyderabad Stock Exchange. We have over the last few years, set up Trading Terminals across the country and today have a network of 100 Terminals located at 30 cities to provide retail stock broking services. Our Stock Broking arm is backed by a very strong research team comprising of highly charged professionals who conduct studies on various industry segment and corporates. Karvy is SEBI registered Category I merchant banker and is today ranked among the top ten in the country. Karvy is known in the merchant banking segment as a professional advisor in structuring IPOs, takeover assignments and buyback exercises. With the economy trends offering multifarious opportunities in corporate consolidations, mergers and acquisitions, hive offs and corporate restructuring, Karvy is positioning itself as a corporate consultant which would offer value added services and act as a professional navigator for long term growth of its clients. Karvy has the backing of a professional team with experience in handling financial climates in both Indian and global markets.

Backed by a predominantly service oriented culture and also capitalising on its experience of handling a variety of customers, we offer a plethora of financial products through our retail arm KARVY-THE FINAPOLIS. The business of distribution of financial products includes Public Issue of bonds, equity shares, fixed deposits of corporates, distribution of units of various Mutual Funds, a basket of liability products comprising personal loans, car loans, housing loans and loans against shares and as the sunrise market of Insurance products. Apart from these products, "The Finapolis" also offers personal tax planning advice, share broking and demat services. All these products reach the ultimate customer through our wide spread network of branches and retail outlets. www.karvy.com is an exclusive comprehensive financial portal offering a wide spectrum of financial services and also supports the Electronic Custody and Mutual Fund servicing businesses. The site is positioned to be an online personal finance advisor and counsels investors on their personal financial planning based on individual earning capacities. It is also a complete resource center for review of corporate actions like bonus, rights, mergers, book closures and board meetings. Further, comprehensive investment reviews of IPOs, mutual funds, bonds, fixed deposits and insurance makes karvy.com a one-stop guide to the average investor. Other IT initiatives by Karvy are an e-mail call centre and a medical transcription division. The underlying reason for our steady growth is attributed to our ability to improve our work ethos and, the quality of our human resources. We focus on continuos training of our workforce to enhance their skills and have a full fledged training centre catering to the same. Karvy, therefore offers good opportunities for various professionals to upgrade their skills and add value to their learning curve.

OBJECTIVES OF STUDY

To know about the customer preference towards the karvy Stock Broking ltd. To know about the services provided by karvy stock broking ltd. To know about the strategy used by the karvy stock broking ltd.

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INTRODUCTION
The Karvy group was formed in 1983 at Hyderabad, India. Karvy ranks among the top player in almost all the fields it operates. Karvy Computershare Limited is Indias largest Registrar and Transfer Agent with a client base of nearly 500 blue chip corporates, managing over 2 crore accounts. Karvy Stock Brokers Limited, member of National Stock Exchange of India and the Bombay Stock Exchange, ranks among the top 5 stock brokers in India. With over 6,00,000 active accounts, it ranks among the top 5 Depositary Participant in India, registered with NSDL and CDSL. Karvy Comtrade, Member of NCDEX and MCX ranks among the top 3 commodity brokers in the country. Karvy Insurance Brokers is registered as a Broker with IRDA and ranks among the top 5 insurance agent in the country. Registered with AMFI as a corporate Agent, Karvy is also among the top Mutual Fund mobilizer with over Rs. 5,000 crores under management. Karvy Realty Services, which started in 2006, has quickly established itself as a broker who adds value, in the realty sector. Karvy Global offers niche off shoring services to clients in the US. Karvy has 575 offices over 375 locations across India and overseas at Dubai and New York. Over 9,000 highly qualified people staff Karvy. Organization: Karvy was started by a group of five chartered accountants in 1979. The partners decided to offer, other than the audit services, value added services like corporate advisory services to their clients. The first firm in the group, Karvy Consultants Limited was incorporated on 23rd July, 1983. In a very short period, it became the largest Registrar and Transfer Agent in India. This business was spun off to form a separate joint venture with Computershare of Australia, in 2005. Karvys foray into stock broking began with marketing IPOs, in 1993. Within a few years, Karvy began topping the IPO procurement league tables and it has consistently maintained its position among the top 5. Karvy was among the first few members of National Stock Exchange, in 1994 and

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became a member of The Stock Exchange, Mumbai in 2001. Dematerialization of shares gathered pace in mid-90s and Karvy was in the forefront educating investors on the advantages of dematerializing their shares. Today Karvy is among the top 5 Depositary Participant in India. While the registry business is a 50:50 Joint Venture with Computershare of Australia, we have equity participation by ICICI Ventures Limited and Barings Asia Limited, in Karvy Stock Broking Limited. For a snapshot of our organization structure, please click here. Karvy has always believed in adding value to services it offers to clients. A top-notch research team based in Mumbai and Hyderabad supports its employees to advise clients on their investment needs. With the information overload today, Karvys team of analysts help investors make the right calls, be it equities, mf, insurance.

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HISTORY OF KARVY STOCK BROKING INDUSTRY

COMPANY OVERVIEW
Karvy Stock Broking Limited provides stock broking and research advisory services in India. The company offers portfolio analysis, depository participant, and financial planning and management services for individuals and institutional clients. It also provides a monthly magazine, Finapolis, which provides up-dated market information on market trends, investment options, and opinions. The company was founded in 1990 and is based in Hyderabad, India. Karvy Stock Broking Limited is a subsidiary of Karvy Consultants Limited. Karvy House 46 Avenue 4 Street No.1Banjara Hills Hyderabad, 500 034 India Founded in 1990 Phone:91 40 2331 2454 Fax:91 40 2331 1968 www.karvy.com/v2/websites/ksbl/index.asp KEY EXECUTIVES Mr. Hemindra Hazari Head of Research Mr. Ambareesh Baliga Vice President

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KEY DEVELOPMENTS FOR KARVY STOCK BROKING LIMITED

Dawnay Day To Sell 50% In Indian Venture Dawnay Day, International Limited has announced that it is planning to hive off its 50% stake in Dawnay Day AV. We have decided to build business with a new partner, said Vajpeyi, who owns 25% stake in Dawnay Day AV. I am not going to sell my stake. I will stay with my team, he added. According to a senior executive of Dawnay Day AV, the company was holding talks with Karvy Stock Broking Ltd and a few other large private equity investors. The business valuations are still under negotiation, the same executive said. Vajpeyi declined to comment on this beyond saying: We are talking to a few partners. Securities Appellate Tribunal Set Aside the Order of SEBI Against Karvy Stock Broking to Disgorge Alleged Illegal Gains Made in IPO Scam During 2003-2005 05/6/2008 The Securities Appellate Tribunal (SAT) has set aside the order of Securities and Exchange Board of India (SEBI) against Karvy Stock Broking Limited to disgorge' alleged illegal gains made in the initial public offer (IPO) scam during 2003-2005. Earlier, Sebi had directed 10 entities, including Karvy Stock Broking, to disgorge about INR 1,150 million. Karvy's disgorgement is estimated to be around INR 500 million. In the scam, certain entities cornered IPO shares reserved for small investors by making benami applications in the retail category through thousands of fictitious applications. Karvy had contested the Sebi order, arguing it was not the beneficiary. In its order issued on May 2, SAT has come down heavily against Sebi, which had asked two depositories and their participants to disgorge illegal gains made by them even when the regulator had found that it was the financiers who were the ultimate beneficiaries of the IPO scam.

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According to the tribunal, Sebi itself had found that the financiers of the key operators were the ultimate beneficiaries of the scam. The regulator went on to identify 82 financiers and even computed the illegal gains made by some of them in that order. Yet, according to SAT, Sebi issued no directions to them to disgorge the illegal gains made by them. Instead, the two depositories and their participants against whom enquiries are pending have been ordered to disgorge the entire amount of illegal gains without even recording a finding that they made any such gains. If the illegal gains were made by financiers it was they who ought to have been directed to disgorge the amount. One is left guessing why the board did not issue such directions to them. It did not even initiate disgorgement proceedings against them for reasons better known to the board. After identifying the financiers who were the ultimate beneficiaries of the scam, the board turned a Nelson's eye towards them and chose to proceed against the depositories and their participants and that too, ex-parte which, to say the least, was most unfair, SAT observed

KARVY IN TALKS TO ACQUIRE A NBFC Karvy Stock Broking Limited is said to be in advanced stages of negotiations to acquire a Non-Banking Finance Company (NBFC). If all goes Karvy expects to close the deal by next month, a top company official said. "Four to five NBFCs have approached Karvy with proposals and the company is examining that. Karvy would finalize the target company by mid May," the official said. The official also informed that though Karvy had earlier opted to apply for an NBFC license, the company would now prefer to buy an established NBFC having a good track-record. The company is understood to be in talks with two to three south based NBFCs. Karvy also plans to expand globally. It intends to foray into the Singapore and London markets in the next one year.

BUSINESS-TO-BUSINESS

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MARKETING

Business-to-business (B2B) is a term commonly used to describe electronic commerce transactions between businesses, as opposed to those between businesses and other groups, such as business and individual consumers (B2C) or business and government (B2G). B2B is also commonly used as an adjective to describe any... Bull Market Believers Three money managers who called the turn in March 2009 see big gains ahead; a fourth dissents BW Exclusives

Bull Market Believers Small Investors Remain Wary After 69% U.S. Stock Bounce Foreclosures Rise at Slowest Pace in 4Years Madoff, Stanford Victims Unite Software Industry Loses Patience with China

Traders on the floor of the NYSE watch shares sink on Mar. 9, 2009 Brendan McDermid/Reuters Veteran money manager Laszlo Birinyi will never forget the moment a year ago when the last ounce of confidence disappeared. New York University Professor Nouriel Roubini and many other prominent pundits were convinced the 16

economy was in free fall, and that the consequences for the stock market would be dire. To the 66-year-old Birinyi, who oversees about $300 million, the widespread pessimism was a clear sign that stocks were headed higher: "At turning points," he says, "the mood is always in one direction." Birinyi says the 69% gain for the Standard & Poor's 500-stock index since the Mar. 9 low last year is just the beginning of a bull market that may last through the next Presidential election. Two other prominent market players who were bullish last March, Barton Biggs of Traxis Partners and Leuthold Group founder Steve Leuthold, share his optimism, saying stocks will advance as the economy gains momentum and the fastest corporate earnings growth since 1994 persuades investors to shift into stocks from bonds. It is far from a unanimous sentiment, of course. Another widely respected investor who anticipated the rally, Jeremy Grantham, chief investment strategist for Grantham Mayo Van Otterloo, now believes the market is overvalued. President Barack Obama made his own stock market prediction last year, saying on Mar. 3 that buying U.S. shares "is a potentially good deal" for long-term investors. Six days later, the S&P 500 hit a 12-year low of 676.53 and then began its epic climb. For Obama, gains in stock and credit markets may be the clearest evidence that his policies are working, after losses tied to subprime mortgages spurred a financial crisis that erased $11 trillion in stock market value and sent the unemployment rate above 10%. While investors have reason to celebrate, they are still a long way from breaking even. As of Mar. 10, the S&P 500 is 27% below the high of 1,565.15 set on Oct. 9, 2007, and trades at the same level it was at back in April 2005. For investors to get into the black, stocks would have to regain more than $5 trillion in value. YOUNG BULL Birinyi doesn't have a price target for the S&P 500, but he does say the rally may be a long one. The average bull market since the 1960s has lasted more than 1,000 trading days, data compiled by Bloomberg and Birinyi Associates show, while this one is just over 250 days old. And Birinyi expects this rally to be better than average because the deepest recessions give way to the strongest bull markets. "By any definition it is a bull market, and there's no stronger force in the market than momentum," he says. His data

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suggest this bull run will last until at least April 2013. Biggs, whose flagship hedge fund returned three times the industry average last year, says stocks remain cheap relative to forecast earnings. The S&P 500 is valued at 14.7 times 2010 profits, assuming earnings for companies in the index rise 27%, the average estimate from analysts tracked by Bloomberg. That compares with an average multiple of 16.6 over the last 56 years. Wall Street firms predict total income at S&P 500 companies will rise 50% in the next two years, the biggest increase since 1994, according to estimates compiled by Bloomberg. "I'm very struck by the level of bearishness everywhere I go," says Biggs, who predicts the next move in the S&P 500 will be a 10% to 15% gain. "I'm not obsessed with history. I'm bullish because I think the global economic recovery is on track and is going to be surprisingly strong. The world was falling apart in 2009. There's been a tremendous change." The fact that investors remain skittish is one of the key factors encouraging Leuthold, who told clients to stop putting money into the firm's bearish fund on Mar. 4, 2009. Investors have pumped $369 billion into mutual funds that hold bonds since March 2009, compared with $23.4 billion for stock funds, according to the Investment Company Institute, the Washington-based lobbying group for professional money managers. "Individual investors, as measured by mutual fund flows, have absolutely no current enthusiasm for equity investing," Leuthold wrote in a Mar. 5 report to clients. "As a contrarian, I view this environment of disbelief and skepticism as quite bullish." That's because when skeptics regain confidence in stocks they will start pouring money into the market. And they have a lot of cash to play with. Investors fled to the shelter of money market funds as the financial crisis took hold in 2007 and 2008, and the $3.2 trillion that's in those accounts today means "there's still some money to be put to work," according to Mike Ryan, the head of wealth management research for the Americas at UBS Financial Services. SKEPTICS' REASONS Of course, skeptics have plenty of reasons to keep their cash where it is. Unemployment remains high and the housing sector is still strugglingboth factors that could keep a lid

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on

consumer

spending,

which

powers

about

70%

of

the

economy.

Jeremy Grantham is among those who see trouble ahead. Grantham, 71, whose firm manages $101 billion, says fair value for the S&P 500 is 875, or 24% below the Mar. 10 close. The figure is based on his calculation of historic price-earnings multiples, weighted to smooth out swings in profit margins. Grantham predicts that the deflating of the credit bubble will be a drag on the economy. On Mar. 4 of last year, Grantham urged investors to move into stocks. What does he suggest today? "My recommendation to the typical investor would be to think outside the U.S.," Grantham says. "And when he thinks about the U.S., to be exclusively in defensive blue chips. The chances of a softening againnot a big collapse, but a secondary softening in the economyare higher than the market believes." Rita Nazareth is a reporter for Bloomberg in New York. Whitney Kisling is a reporter for Bloomberg in New York. Member - National Stock Exchange (NSE) and The Bombay Stock Exchange (BSE). 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 portfolio and empowering the investor completely is the ultimate goal.

STOCK BROKING SERVICES

It is an undisputed fact that the stock market is unpredictable and yet enjoys a high success rate as a wealth management and wealth accumulation option. The difference between unpredictability and a safety anchor in the market is provided by in-depth knowledge of market functioning and changing trends, planning with foresight and choosing one’s options with care. This is what we provide in our Stock Broking services.

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We offer services that are beyond just a medium for buying and selling stocks and shares. Instead we provide services which are multi dimensional and multi-focused in their scope. There are several advantages in utilizing our Stock Broking services, which are the reasons why it is one of the best in the country. We offer trading on a vast platform ; National Stock Exchange and Bombay Stock Exchange. More importantly, we make trading safe to the maximum possible extent, by accounting for several risk factors and planning accordingly. We are assisted in this task by our in-depth research, constant feedback and sound advisory facilities. Our highly skilled research team, comprising of technical analysts as well as fundamental specialists, secure result-oriented information on market trends, market analysis and market predictions. This crucial information is given as a constant feedback to our customers, through daily reports delivered thrice daily ; The Pre-session Report, where market scenario 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 is given and The Post-session Report, the final report for the day, where the market and the report itself is reviewed. To add to this repository of information, we publish a monthly magazine “Karvy ; The Finapolis”, which analyzes the latest stock market trends and takes a close look at the various investment options, and products available in the market, while a weekly report, called “ Karvy Bazaar Baatein”, keeps you more informed on the immediate trends in the stock market. In addition, our specific industry reports give comprehensive information on various industries. Besides this, we also offer special portfolio analysis packages that provide daily technical advice on scrips for successful portfolio management and provide customized advisory services to help you make the right financial moves that are specifically suited to your portfolio. Our Stock Broking services are widely networked across India, with the number of our trading terminals providing retail stock broking facilities. Our services have increasingly offered customer oriented convenience, which we provide to a spectrum of investors, high-networth or otherwise, with equal dedication and competence.

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But true to our spirit, this success is not our final destination, but just a platform to launch further enhanced quality services to provide you the latest in convenient, customerfriendly stock management. Over the years we have ensured that the trust of our customers is our biggest returns. Factors such as our success in the Electronic custody business has helped build on our tradition of trust even more. Consequentially our retail client base expanded very fast. To empower the investor further we have made serious efforts to ensure that our research calls are disseminated systematically to all our stock broking clients through various delivery channels like email, chat, SMS, phone calls etc. Our foray into commodities broking has been path breaking and we are in the process of converting existing traders in commodities into the more organized mainstream of trading in commodity futures, both as a trading and risk hedging mechanism.

In the future, our focus will be on the emerging businesses and to meet this objective, we have enhanced our manpower and revitalized our knowledge base with enhances focus on Futures and Options as well as the commodities business.

DEPOSITORY PARTICIPANTS
The onset of the technology revolution in financial services Industry saw the emergence of Karvy as an electronic custodian registered with National Securities Depository Ltd (NSDL) and Central Securities Depository Ltd (CSDL) in 1998. Karvy set standards enabling further comfort to the investor by promoting paperless trading across the country and emerged as the top 3 Depository Participants in the country in terms of customer serviced. Offering a wide trading platform with a dual membership at both NSDL and CDSL, we are a powerful medium for trading and settlement of dematerialized shares. We have

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established live DPMs, Internet access to accounts and an easier transaction process in order to offer more convenience to individual and corporate investors. A team of professional and the latest technological expertise allocated exclusively to our demat division including technological enhancements like SPEED-e, make our response time quick and our delivery impeccable. A wide national network makes our efficiencies accessible to all.

DISTRIBUTION OF FINANCIAL PRODUCTS The paradigm shift from pure selling to knowledge based selling drives the business today. With our wide portfolio offerings, we occupy all segments in the retail financial services industry. A 1600 team of highly qualified and dedicated professionals drawn from the best of academic and professional backgrounds are committed to maintaining high levels 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 procurer in all public issues. To further tap the immense growth potential in the capital markets we enhanced the scope of our retail brand, Karvy the Finapolis , thereby providing planning and advisory services to the mass affluent. Here we understand the customer needs 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 customer deliver a service that is exemplary. The market-savvy and the ignorant investors, both find this service very satisfactory. The edge that we have over competition is our portfolio of offerings and our professional expertise. The investment planning for each customer is done with an unbiased attitude so that the service is truly customized.

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Our monthly magazine, Finapolis, provides up-dated market information on market trends, investment options, opinions etc. Thus empowering the investor to base every financial move on rational thought and prudent analysis and embark on the path to wealth creation. http://mfportfolio.karvy.com

ADVISORY SERVICES
Under our retail brand Karvy the Finapolis', we deliver advisory services to a crosssection of customers. The service is backed by a team of dedicated and expert professionals with varied experience and background in handling investment portfolios. They are continually engaged in designing the right investment portfolio for each customer according to individual needs and budget considerations with a comprehensive support system that focuses on trading customers' portfolios and providing valuable inputs, monitoring and managing the portfolio through varied technological initiatives. This is made possible by the expertise we have gained in the business over the years. Another venture towards being investor-friendly is the circulation of a monthly magazine called Karvy - the Finapolis'. Covering the latest of market news, trends, investment schemes and research-based opinions from experts in various financial fields. www.thefinapolis.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 but their life-style as well. Here we follow a hard-nosed business approach with the soft touch of dedicated customer care and personalized attention.

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For this purpose we offer a comprehensive and personalized service that encompasses planning and protection of finances, planning of business needs and retirement needs and a host of other services, all provided on a one-to-one basis. Our research reports have been widely appreciated by this segment. The delivery and support modules have been fine tuned by giving our clients access to online portfolio information, constant updates on their portfolios as well as value-added advise on portfolio churning, sector switches etc. The investment recommendations given by our research team in the cash market has enjoyed a high success rate.

FINANCIAL PRODUCTS DISTRIBUTION SERVICES

The paradigm shift from pure selling to knowledge based selling drives the business today. With our wide portfolio offerings, we occupy all segments in the retail financial services industry.

A team of highly qualified and dedicated professionals drawn from the best of academic and professional backgrounds are committed to maintaining high levels 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 procurer in all public issues.

To further tap the immense growth potential in the capital markets we enhanced the scope of our retail brand, KARVY the Finapolis, thereby providing planning and advisory services to the mass affluent. Here we understand the customer needs 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 customer deliver a service that is exemplary. The market-savvy and the ignorant investors, both find this service very satisfactory. The edge that we have over competition is our portfolio of offerings and our professional expertise. The investment planning for

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each customer 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 every financial move on rational thought and prudent analysis and embark on the path to wealth creation.

ABOUT KARVY COMTRADE LIMITED

Commodities market, contrary to the beliefs of many people, has been in existence in India through the ages. However the recent attempt by the Government to permit Multicommodity National levels exchanges has indeed given it, a shot in the arm. As a result two exchanges Multi Commodity Exchange (MCX) and National Commodity and derivatives Exchange (NCDEX) have come into being. These exchanges, by virtue of their high profile promoters and stakeholders, bundle in themselves, online trading facilities, robust surveillance measures and a hassle-free settlement system. The futures contracts available on a wide spectrum of commodities like Gold, Silver, Cotton, Steel, Soya oil, Soya beans, Wheat, Sugar, Chana etc., provide excellent opportunities for hedging the risks of the farmers, importers, exporters, traders and large scale consumers. They also make open an avenue for quality investments in precious metals. The commodities market, as it is not affected by the movements of the stock market or debt market provides tremendous opportunities for better diversification of risk. Realizing this fact, even mutual funds are contemplating of entering into this market.

Karvy Comtrade Limited is another venture of the prestigious Karvy group. With our well established presence in the multifarious facets of the modern Financial services industry from stock broking to registry services, it is indeed a pleasure for us to make foray into the commodities derivatives market which opens yet another door for us to deliver our service to our beloved customers and the investor public at large. With the high quality infrastructure already in place and a committed Government

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providing continuous impetus, it is the responsibility of us, the intermediaries to deliver these benefits at the door-steps of our esteemed customers. With our expertise in financial services, existence across the lengths and breadths of the country and an enviable technological edge, we are all set to bring to you, the pleasure of investing in this burgeoning market, which can touch upon the lives of a vast majority of the population from the farmer to the corporate alike. We are confident that the commodity futures can be a good value addition to your portfolio. The company provides investment, advisory and brokerage services in Indian Commodities Markets. And most importantly, we offer a wide reach through our branch network of over 225 branches located across 180 cities.

To open a commodities trading account, click here else contact the nearest Karvy branch. Registered Office: Karvy Comtrade Limited. 46, Avenue 4, Street No. 1, Banjara Hills, Hyderabad 500 034. Andhra Pradesh, India. Mail Telephone Fax :commodity@karvy.com +91-40 : 23431569/23388708/32946279/32946313 :+91-040-66259955/66255559

WHY COMMODITIES?
Commodities market essentially represents another kind of organised market just like the stock market and the debt market. However, commodities market, because of its unique nature lends to the benefits of a wide spectrum of people like investors, importers, exporters, producers, corporate etc.,

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What can commodities market offer? If you are an investor, commodities futures represent a good form of investment because of the following reasons..

High Leverage The margins in the commodity futures market are less than the F&O section of the equity market. Less Manipulations - Commodities markets, as they are governed by international price movements are less prone to rigging or price manipulations. Diversification The returns from commodities market are free from the direct influence of the equity and debt market, which means that they are capable of being used as effective hedging instruments providing better diversification.

If you are an importer or an exporter, commodities futures can help you in the following ways

Hedge against price fluctuations Wide fluctuations in the prices of import or export products can directly affect your bottom-line as the price at which you import/export is fixed before-hand. Commodity futures help you to procure or sell the commodities at a price decided months before the actual transaction, thereby ironing out any change in prices that happen subsequently.

If you are a producer of a commodity, futures can help you as follows:

Lock-in the price for your produce If you are a farmer, there is every chance that the price of your produce may come down drastically at the time of harvest. By taking positions in commodity futures you can effectively lock-in the price at which you wish to sell your produce

Assured demand Any glut in the market can make you wait unendingly for a buyer. Selling commodity futures contract can give you assured demand at the time of harvest.

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If you are a large scale consumer of a product, here is how this market can help you:

Control your cost If you are an industrialist, the raw material cost dictates the final price of your output. Any sudden rise in the price of raw materials can compel you to pass on the hike to your customers and make your products unattractive in the market. By buying commodity futures, you can fix the price of your raw material.

Ensure continuous supply Any shortfall in the supply of raw materials can stall your production and make you default on your sale obligations. You can avoid this risk by buying a commodity futures contract by which you are assured of supply of a fixed quantity of materials at a pre-decided price at the appointed time.

OPEN AN ACCOUNT:
To open the commodities trading account, click here. The account opening forms are available at our branch offices and with our business associates. You are requested to kindly contact a branch nearby your area and complete the account opening formalities for commodities trading at the branches.

Also you can take a print out and fill out a simple account opening form from our website and complete the necessary documentation as per the checklist enclosed in the form. The form after duly filled up may be deposited at the nearest Karvy Branch or Associate along with a cheque/DD favouring Karvy Comtrade Limited payable at Hyderabad towards initial margin. Please remember the Member-Client agreement has to be executed on a non-judicial stamp paper, as per the applicable by the Stamp Duty Act of the relevant state. 1. Deposit Initial Margin: You need to deposit an initial upfront margin as specified by the exchange

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(usually between 5-10% of the contract value).The cheque/DD should be in favour of Karvy Comtrade Limited 2. Mark to Market Margin: In addition to initial margin, you also need to keep a mark to market margin for taking care of the adverse price movements, if any. 3. Duly filled up Client Registration form may be sent to the address below or to any nearby Karvy branch: Karvy Comtrade Limited 46, Avenue 4, Street No. 1, Banjara Hills,

THE KARVY ADVANTAGE

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Trade from anywhere in India Karvy, with its network of branches across the length and breadth of the country, is always within your reach, no matter where you are. This gives you the facility to trade from anywhere in India. Reliable research Karvy has a dedicated team of research analysts who work round the clock to provide the best research newsletters and advices. We reach your desk daily, weekly and monthly.

Personalized Services Karvy, with its wide array of personalized services from registry to stock broking takes the pleasure of adding one more service, commodities broking with the same personal touch. State of Infrastructure The strong IT backbone of Karvy helps us to provide customized direct services through our back office system, nation-wide connectivity and website. Round the clock operations in commodities trading Indian commodities market, unlike stock market keeps awake till 11 in the night and Karvy is all poised to offer round the clock services through its dedicated team of professionals.

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LITERATURE REVIEW
Mr. C Parthasarathy, a leader in the financial services industry in India is responsible for building Karvy as one of India's truly integrated Financial Services Provider; he is a fellow member of the Institute of Company Secretaries of India, a Fellow Member of the Institute of Chartered Accountants of India and a graduate in law. As Chairman, he oversees the group's operations and renders vision and business direction. His passion and vision for achieving leadership in the business made KARVY a leading financial intermediary ranking them as number one in the registrar, Share Transfer and IPO Distribution businesses. He also holds directorship in Karvy Securities Limited, Karvy Stock Broking Limited, Karvy Investor Services Limited, Karvy Computershare Private Limited, Karvy Comtrade Limited, EPR Pharmaceuticals Private Limited and Ocean Sparkles Limited. V Ganesh is a Chartered and Cost Accountant by profession and has over 14 years of experience in the financial services space. Before joining KARVY, he was associated with ITCs risk management and financial audit services department. Earlier he was associated with Proctor and Gamble and was responsible for product pricing and financial support functions for P&Gs soaps and health care businesses. Presently, he oversees the Sales and Marketing initiatives at KARVY Computershare and also heads MF services business. He was instrumental in setting up the mutual fund registry business for Karvy. His experience in KARVY, spread over 13 years, is across the techno commercial space with responsibilities for setting up a PAN India branch network, back office processing,

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interfaces with other intermediaries, call center, web initiatives, online trading, and other activities in the transfer agency business

RESEARCH METHODOLOGY It is well known fact that the most important step in marketing research process is to define the problem. Choose for investigation because a problem well defined is half solved. That was the reason that at most care was taken while defining various parameters the set on the base of these objectives. A questionnaire was designed major emphasis of which was gathering new ideas or insight so as to determine and bind out solution to the problems. DATA SOURCE: Research included gathering both Primary and Secondary data. Primary data is the first hand data, which are selected a fresh and thus happen to be original in character. Primary Data was crucial to know various customers and past consumer views about bikes and to calculate the market share of this brand in regards to other brands. Secondary data are those which has been collected by some one else and which already have been passed through statistical process. Secondary data has been taken from internet, newspaper, magazines and companies web sites.

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RESEARCH APPROACH: The research approach was used survey method which is a widely used method for data collection and best suited for descriptive type of research survey includes research instrument like questionnaire which can be structured and unstructured. Target population is well identified and various methods like personal interviews and telephone interviews are employed.

SAMPLING UNIT: It gives the target population that will be sampled. This research was carried in Rewa city These were 100 respondents. DATA COMPLETION AND ANALYSIS: After the data has been collected, it was tabulated and findings of the project were presented followed by analysis and interpretation to reach certain conclusions.

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RESULT AND ANALYSIS

1. Do you use share trading?

1) YES (64)

2) NO.(36)

Yes 64
70 60 50 40 30 20 10 0 1s t Qtr

N0 36

y es no 3-DColum 3 n

Interpretation 64 persons are using share trading trading. and 36 are not using share

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2. Why choose KSBL company for share trading?

1) profitable (32) profitable 32

2) faithful(32) faithful 32

35 30 25 20 15 10 5 0 1s Qtr t profita ble fa ithful

Intrpration 32 customers are using ksbl because its profitable and 32 are using because its faith full.

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3. Are you satisfied With KSBL Services?

1) YES (50) Yes 50

50 40 30 20 10 0 1s Qtr t y es no

2) No (14) N0 14

Interpretation 50 customers are satisfied and 14 are not satisfied due to some reason.

4. Would you like to switch from this company?

1) Yes(10) 2)No (54)

Yes 10

N0 54

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1200 1000 800 600 400 200 0 1s Qtr t y es no

Interpretation 10% people are want switch from ksbl. 5. If yes, why you want to switch? 1) Services (25) 3) Durability (20) Services Price Durability Etc
25 20 15 10 5 0 1s Qtr t s ices erv price dura bility etc

2) Price(10) 4) Etc(4)

25 20 10 4

Interpretation 25% customers are giving reason behind switch that is services.

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DISCUSSION OF IMPLICATION
According to table no 1 64% customers are using share trading and36%

customer are not using share trading.

According to table no 2 most of the customers prefer ksbl because its a

profitable and faith full company.. According to table no 3 50 customers are satisfied are 14 are not satisfied due to some reason. According to table no 4 of some customer are want switch from ksbl.

According to table no 5 most of the respondents said that they take full

advantage of ksbl services.

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CONCLUSION/RECOMMEDATION

According to my research I have found that whatever I have learned in my course book it is matching totally with the conclusion of my research that karvy stock broking ltdn. This study aims to investigate the customer satisfaction of the stock market, factors influencing satisfaction and the relationship between demographic variables and customer satisfaction in a best service provide by stock companies. With regards to influence of demographic variables on satisfaction, the result showed that the individual variables (age, gender, employment status and location) and their combination have weak influence on satisfaction. These results mean that customers perceptions of how well the stock services meet their needs are not affected by these specific variables. I have reached on the conclusion that most of customers prefer to provide by good feature, and other suitable feature. The low satisfaction of the young customers could be due to greater familiarity with stock services and are more demanding. The high satisfaction of the male customers could be due to the impact of the services on their functional activities. The unemployed customers demonstrated more satisfaction than the employed ones and the higher satisfaction of the unemployed group could be due to true satisfaction or low knowledge of stock option. This investigation is necessary basically for three reasons: It is the first academic study on stock customers Demographic factors are important factors in the society and greatly affect attitudes, lifestyle, standard of living, etc. This study intends to investigate the impact of these factors on customer satisfaction with stock services. It helps to investigate the different market segments so as to better understand the There is a strong relationship between age, gender and customer satisfaction

REFERENCES
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WEBSITES: http://www.karvy.com www.mail.karvyonline www.karvydp.com

BOOKS : Karvy finapolis magzine

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QUESTIONNAIRE
1. Do you use share trading?

1) YES 2) NO

2. Why choose KSBL company for share trading? a. 1)profitable

2) faithful

3. Are you satisfied With KSBL Services?

1) YES

2) No

4. Would you like to switch from this company?

a. Yes 2)No

5. If yes, why you want to switch? 1) Services 3) Durability

2) Price 4) Etc

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GLOSSERY
Bid The price a prospective buyer is prepared to pay at a particular time for trading a unit of a given security. (See also "Best Bid".) Capital Gains Distribution Payments to mutual fund shareholders of profits from the sale of securities in a fund's portfolio. Capital gains distributions (if any) are usually made annually. Common Stocks The basic form of equity ownership in a corporation. Consensus Rating The average of analysts recommendations for a single entity. As many brokers have different ratings systems, their recommendations must be standardized so that a consensus can be calculated. The I/B/E/S ratings are calculated using a standard set of recommendations, maintained by I/B/E/S, each with an assigned numeric value:

1. Strong Buy 2. Buy 3. Hold 4. Underperform 5. Sell

Each recommendation received from the analysts is mapped to one of the I/B/E/S 42

standard ratings. Assigning a numeric value to the broker text enables I/B/E/S to calculate a consensus recommendation. This consensus recommendation appears as the mean (average) of the assigned values. Date of Record The date on which a shareholder must officially own shares in order to be entitled to a dividend. Days to Cover Calculated as the aggregate short interest for the month divided by the average daily share volume traded for the period between short interest settlement dates. If days to cover is between 0 and 1, it is rounded up to 1 on NASDAQ.com Debt to Equity Ratio Long-term debt divided by shareholders' equity, showing relationship between long-term funds provided by creditors and funds provided by shareholders; high ratio may indicate high risk, low ratio may indicate low risk. Deleted A security is no longer included in The NASDAQ Stock Market. Diluted EPS Diluted EPS is a company's EPS figure as calculated using fully diluted shares outstanding. It takes into account non-exercised stock options and convertible bonds, hence the number is fully diluted.

EOL sends YTD diluted EPS numbers as reported by the companies on the SEC quarterly and annual filings. ISS calculates trailing twelve months diluted EPS using the last 12 months diluted numbers provided by EOL. ISS takes into 43

account the YTD aspect of those numbers and calculates the TTM EPS accordingly. ISS also adjusts the EPS numbers if the company issued stock splits or reverse splits in the last 12 months.

GoldPlated receives this adjusted TTM EPS from ISS. Distribution Date Date on which the payout of realized capital gains on securities in the fund portfolio occurred. Diversification The acquisition of a group of assets in which returns on the assets are not directly related over time. Proper investment diversification is intended to reduce the risk inherent in particular securities. An investor seeking diversification for a securities portfolio would purchase securities of firms that are not similarly affected by the same variables. For example, an investor would not want to combine large investment positions in airlines, trucking and automobile manufacturing because each industry is significantly affected by oil prices and interest rates. Dividend Distribution of earnings to shareholders, prorated by the class of security and paid in the form of money, stock, scrip, or, rarely, company products or property. The amount is decided by the Board of Directors and is usually paid quarterly. Mutual fund dividends are paid out of income, usually on a quarterly basis from the fund's investments. Dow Jones Industrial Average - DJIA 44

The Dow Jones Industrial Average index - (DJIA) is a price-weighted average of 30 actively traded blue chip stocks, primarily industrials but including American Express Co. and American Telephone and Telegraph Co. Prepared and published by Dow Jones & co., it is the oldest and most widely quoted of all the market indicators. The components, which change from time to time, represent between 15% and 20% of the market value of NYSE stocks. The DJIA is calculated by adding the closing prices of the component stocks and using a divisor that is adjusted for splits and stock dividends equal to 10% or more of the market value of an issue as well as substitutions and mergers. The average is quoted in points, not in dollars. Down on Unusual Volume Refers to a decrease in stock price for stocks exhibiting unusual volume. See our FAQs section for additional information regarding Unusual Volume. Dual Listed For the purpose of this website - A company which lists its securities on both The NASDAQ Stock Market and the New York Stock Exchange.

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