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Brand:A leading retail stock broking brand with top of the mind recall in the stock investing population across India. We are committed to increase the brand awareness across all medium and through multiple PR initiatives.

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We offer a complete range of investment products that covers Equities, F&O, Commodities, Mutual Fund, IPOs, through our online platform. This will enable you to offer a 'One Stop Solution' for all stock market needs of your customers. Click to see our entire product range >>

Robust software: Online DP access, Risk Management, Customer Information and Back office support, along with state of the art online knowledge sharing tools, maximize information availability at your fingertips.

Research: In an information-centric business like ours, knowledge makes all the difference. We deliver quality and in depth research through our Central Research team of analysts, covering fundamental and technical research, derivatives, mutual funds and IPO.

Training: Comprehensive three levels of training to the business partners at the nearest branch, at their own outlet and at the head office. Ongoing training support for the business partners as well as the employees is just a call away.

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Business Support: Sharing business development and business generation ideas along with planning client level events for your outlet. Better local level visibility and higher leverage on the brand

With Sharekh

systems softw day business

processes to r

wonderful. Th

monitored ris Advisory Support: Access to Sharekhan research advice in real-time on Sharekhan Trade Tiger terminal. Dedicated Advisory relationship managers to help you chart a business plan and help you in your day-to-day business as well as owning up the clients portfolios

management

support to gr

business. Any

just a call awa Krishna Rungta, Sharekhan Franchisee,

Best business practices: With customer interest as the core value, best practices and directives from regulators help in building greater trust and transparency.

Patna

"With its ethi

functioning a

driven proces Customized Retail Design: Expert Assistance to design your office premises synonymous with our corporate identity

Sharekhan ke

customers ful

about its Inte

Everyone is s

Acquire more customers with our Marketing Efforts:

Saurabh Bardia,

to help us gro business"

Sharekhan Franchisee, Benefit from the Big Picture: Leverage Sharekhans efforts in National-level advertising and presence in mass media Jabalpur

Presence in your Region: Customized marketing and business development effort as per your need and wants at the regional level

Sharekhan Ltd.: BSE Cash-INB011073351; F&O-INF011073351; CD - INE011073351; NSE INB/INF231073330; CD INE231073330; MCX Stock Exchange : CD - INE261073330 DP: NSDL-IN-DP-NSDL-233-2003; CDSL-IN-DP-CDSL-271-2004; PMS INP000000662; Mutual Fund: ARN 20669. Sharekhan Commodities Pvt. Ltd.: MCX-10080; (MCX/TCM/CORP/0425); NCDEX -00132; (NCDEX/TCM/CORP/0142); for any complaints email at igc@sharekhan.com. Regd Add:- Lodha iThink Techno Campus, 10th Floor, Beta Building, Off. JVLR, Opp. Kanjurmarg Station, Kanjurmarg (East), Mumbai 400 042, Maharashtra. Investing in equities & commodities future involves risk. Please carefully read the risk disclosure document as prescribed by SEBI & relevant exchanges a

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y y y y y y y y y

The most trusted retail-centric broking house with 'Service Truly Personalized'. Angel is among the top five broking houses in the country. Angel was first to concentrate on retail-centric research. Angel was first to adopt the branch concept. Angel was first to launch the web-enabled Back Office Software for sub brokers and clients. Angel has the highest number of registered sub-brokers on BSE and NSE. Angel has the highest number of trading terminals (excluding e-broking terminals). Angel has been awarded most coveted Major Volume Driver award by BSE from the year 2004-05 to 2008-09. Angel has recently been awarded two prestigious award of "Best Retail Broking House" and "Broking house with Largest Distribution Network" by Dun and Bradstreet.

o say that online investing has grown extraordinarily fast over the past couple of years is akin to

describing Marilyn Monroe [ Images ] as reasonably attractive. While it may be easy to trade on the Net, finding the right online broker takes some doing.

Given that online trading is still at a nascent stage, online brokers are willing to offer many options -brokerages that decline as volumes soar, waiver of account opening charges, access to research reports, and the facility of transacting in financial instruments through the trading website. So whom should you choose? The answer depends on a host of variables -- both qualitative and quantitative. Qualitative factors are usually a little hard to assess and largely pertain to expectations of service standards. It helps to talk to acquaintances who trade online about the website's reliability, ease of fund transfer and transaction, and the customer service quality of the e-broker, the only human interface in the entire mechanism. Nonetheless, there are some key factors that help you compare e-brokers. Brokerage. It's a recurring cost and can potentially draw down returns. Every player claims that his brokerage is the lowest or at least promises to charge the minimum once an investor opens an account and starts trading. But this promise is contingent on the trading volumes of the investor. The brokerage differs from company to company. To give an indicative figure, ICICIDirect.com charges 0.75 per cent for a quarterly volume of less than Rs 10 lakh (Rs 1 million) and 0.25 per cent for an amount in excess of Rs 5 crore (Rs 50 million). The brokerage for the quarter that follows the opening of an online trading account is determined by the opening amount of investment, irrespective of the subsequent investments in that quarter. Any amount due to either the broker or investor over and above the brokerage paid is settled every quarter and the opening amount of the next quarter determines the brokerage that will be paid in that quarter. While 5paisa.com has the lowest brokerage -- 0.25 per cent -- on delivery, Angel Broking offers the lowest -0.02 per cent -- on intra-day trading (see A Comparative Look at Online Brokers). Position traders -- investors who buy and hold securities for the long haul -- typically opt for low brokerages. Daily traders, who trade in large volumes, usually settle for what brokers call zero per cent brokerage. This does not mean that they are not charged brokerage, but alludes to a fixed brokerage fee irrespective of turnover or up to a certain turnover for a period of time: higher the investment, lower the brokerage. For instance, Reliance [ Get Quote ] Money charges Rs 500 for delivery-based volumes up to Rs 10 lakh (Rs 1 million) for two months. If one trades with 5paisa.com for the same volume, the brokerage amount will be Rs 2,500 (at the rate of 0.25 per cent brokerage). So, at this volume, Reliance Money scores over

5paisa.com. However, the fixed brokerage of Reliance Money is higher than 5paisa.com's brokerage for investments less than Rs 2 lakh. For onliners

y y y y y y y y

Brokerage is a recurring cost. Higher trading volume slabs attract lower brokerage. You'll also have to pay an annual maintenance charge. Some brokers insist on a minimum transaction volume and charge their lowest brokerage for it. Opt for the same depository and trading body to avoid delays in settlement of shares and cash. Margin trading could attract higher brokerage than regular transactions. Online brokers provide regular updates on market favourites. Pick the online broker with the maximum number of collaborating banks. Check out the website's speed and reliability, ease of fund transfer, and the e-broker's customer service quality. The broker's infrastructure should be able to handle large trade volumes.

Account opening and maintenance costs. In order to trade, an investor needs to open two accounts with the brokerage firm - a demat account to keep the shares and a trading account to trade. If cost is an issue, you may select Almondz, for instance, since it charges only Rs 400 for opening an account (see A Comparative Look at Online Brokers), but do not hold a demat account with one company and a trading account with another since it delays the settlement of shares and cash. Another fixed cost is the annual maintenance charge. While some companies such as Kotak Securities have a high maintenance charge, Almondz, Religare, Reliance Money, 5paisa.com and IndiaBulls [ Get Quote ] charge nothing at all. Minimum trade requirements. Some online brokers insist on a minimum transaction volume for which they charge their lowest brokerage. For instance, ICICIDirect.com has set its minimum transaction at Rs 500 and charges a brokerage of Rs 25 on it. Geojit Financial Services [ Get Quote ] has not fixed a minimum transaction amount, but the minimum brokerage is Rs 20. Margin trading. This is available in the online domain and involves paying only a proportion of the trade value upfront. Such trades could attract higher brokerage than the regular transactions. Mostly traders, who go for intraday transactions, go for this form of trading. Investors typically invest for longer periods and margin trading is not suitable for them as brokers charge huge interest on the value of the trade that is not paid upfront.

Access to research. Online brokers provide regular updates on market favourites - stocks to buy, hold or sell - through the Net as well as SMS. Apart from this, a relationship manager is appointed who works as an intermediary between the investor and the broker, and plays the helpful tipper. Investors need to remember amidst the daily onslaught of tips that too much trading does not necessarily translate into big bucks. Tie-ups with banks. To trade with a broking company, you need to have an account with one of its collaborating banks. Typically, broking firms have fewer collaborations with public sector banks. Almondz scores above others here since it has tie-ups with numerous private sector banks and 19 public sector ones. Apart from the charges mentioned above, an investor is required to pay the security transaction tax and service tax (including education cess of 3 per cent), which amount, respectively, to 0.125 per cent of the transaction value and 12.36 per cent of the brokerage amount. These also raise the cost of the trade. Anand Rawani, Outlook Money
Share this

Ask Users Write a Comment Print

o say that online investing has grown extraordinarily fast over the past couple of years is akin to

describing Marilyn Monroe [ Images ] as reasonably attractive. While it may be easy to trade on the Net, finding the right online broker takes some doing.

Given that online trading is still at a nascent stage, online brokers are willing to offer many options -brokerages that decline as volumes soar, waiver of account opening charges, access to research reports, and the facility of transacting in financial instruments through the trading website. So whom should you choose? The answer depends on a host of variables -- both qualitative and quantitative. Qualitative factors are usually a little hard to assess and largely pertain to expectations of service standards. It helps to talk to acquaintances who trade online about the website's reliability, ease of fund transfer and transaction, and the customer service quality of the e-broker, the only human interface in the entire mechanism. Nonetheless, there are some key factors that help you compare e-brokers. Brokerage. It's a recurring cost and can potentially draw down returns. Every player claims that his brokerage is the lowest or at least promises to charge the minimum once an investor opens an account and starts trading. But this promise is contingent on the trading volumes of the investor. The brokerage differs from company to company. To give an indicative figure, ICICIDirect.com charges 0.75 per cent for a quarterly volume of less than Rs 10 lakh (Rs 1 million) and 0.25 per cent for an amount in excess of Rs 5 crore (Rs 50 million). The brokerage for the quarter that follows the opening of an online trading account is determined by the opening amount of investment, irrespective of the subsequent investments in that quarter. Any amount due to either the broker or investor over and above the brokerage paid is settled every quarter and the opening amount of the next quarter determines the brokerage that will be paid in that quarter. While 5paisa.com has the lowest brokerage -- 0.25 per cent -- on delivery, Angel Broking offers the lowest -0.02 per cent -- on intra-day trading (see A Comparative Look at Online Brokers). Position traders -- investors who buy and hold securities for the long haul -- typically opt for low brokerages. Daily traders, who trade in large volumes, usually settle for what brokers call zero per cent brokerage.

This does not mean that they are not charged brokerage, but alludes to a fixed brokerage fee irrespective of turnover or up to a certain turnover for a period of time: higher the investment, lower the brokerage. For instance, Reliance [ Get Quote ] Money charges Rs 500 for delivery-based volumes up to Rs 10 lakh (Rs 1 million) for two months. If one trades with 5paisa.com for the same volume, the brokerage amount will be Rs 2,500 (at the rate of 0.25 per cent brokerage). So, at this volume, Reliance Money scores over 5paisa.com. However, the fixed brokerage of Reliance Money is higher than 5paisa.com's brokerage for investments less than Rs 2 lakh. For onliners

y y y y y y y y

Brokerage is a recurring cost. Higher trading volume slabs attract lower brokerage. You'll also have to pay an annual maintenance charge. Some brokers insist on a minimum transaction volume and charge their lowest brokerage for it. Opt for the same depository and trading body to avoid delays in settlement of shares and cash. Margin trading could attract higher brokerage than regular transactions. Online brokers provide regular updates on market favourites. Pick the online broker with the maximum number of collaborating banks. Check out the website's speed and reliability, ease of fund transfer, and the e-broker's customer service quality. The broker's infrastructure should be able to handle large trade volumes.

Account opening and maintenance costs. In order to trade, an investor needs to open two accounts with the brokerage firm - a demat account to keep the shares and a trading account to trade. If cost is an issue, you may select Almondz, for instance, since it charges only Rs 400 for opening an account (see A Comparative Look at Online Brokers), but do not hold a demat account with one company and a trading account with another since it delays the settlement of shares and cash. Another fixed cost is the annual maintenance charge. While some companies such as Kotak Securities have a high maintenance charge, Almondz, Religare, Reliance Money, 5paisa.com and IndiaBulls [ Get Quote ] charge nothing at all. Minimum trade requirements. Some online brokers insist on a minimum transaction volume for which they charge their lowest brokerage. For instance, ICICIDirect.com has set its minimum transaction at Rs 500 and charges a brokerage of Rs 25 on it. Geojit Financial Services [ Get Quote ] has not fixed a minimum transaction amount, but the minimum brokerage is Rs 20. Margin trading. This is available in the online domain and involves paying only a proportion of the trade value upfront. Such trades could attract higher brokerage than the regular transactions. Mostly traders, who go for intraday transactions, go for this form of trading. Investors typically invest for longer periods and margin trading is not suitable for them as brokers charge huge interest on the value of the trade that is not paid upfront.

Access to research. Online brokers provide regular updates on market favourites - stocks to buy, hold or sell - through the Net as well as SMS. Apart from this, a relationship manager is appointed who works as an intermediary between the investor and the broker, and plays the helpful tipper. Investors need to remember amidst the daily onslaught of tips that too much trading does not necessarily translate into big bucks. Tie-ups with banks. To trade with a broking company, you need to have an account with one of its collaborating banks. Typically, broking firms have fewer collaborations with public sector banks. Almondz scores above others here since it has tie-ups with numerous private sector banks and 19 public sector ones. Apart from the charges mentioned above, an investor is required to pay the security transaction tax and service tax (including education cess of 3 per cent), which amount, respectively, to 0.125 per cent of the transaction value and 12.36 per cent of the brokerage amount. These also raise the cost of the trade. Anand Rawani, Outlook Money
Share this

Ask Users Write a Comment Print

o say that online investing has grown extraordinarily fast over the past couple of years is akin to

describing Marilyn Monroe [ Images ] as reasonably attractive. While it may be easy to trade on the Net, finding the right online broker takes some doing.

Given that online trading is still at a nascent stage, online brokers are willing to offer many options -brokerages that decline as volumes soar, waiver of account opening charges, access to research reports, and the facility of transacting in financial instruments through the trading website. So whom should you choose? The answer depends on a host of variables -- both qualitative and quantitative. Qualitative factors are usually a little hard to assess and largely pertain to expectations of service standards. It helps to talk to acquaintances who trade online about the website's reliability, ease of fund transfer and transaction, and the customer service quality of the e-broker, the only human interface in the entire mechanism. Nonetheless, there are some key factors that help you compare e-brokers. Brokerage. It's a recurring cost and can potentially draw down returns. Every player claims that his brokerage is the lowest or at least promises to charge the minimum once an investor opens an account and starts trading. But this promise is contingent on the trading volumes of the investor. The brokerage differs from company to company. To give an indicative figure, ICICIDirect.com charges 0.75 per cent for a quarterly volume of less than Rs 10 lakh (Rs 1 million) and 0.25 per cent for an amount in excess of Rs 5 crore (Rs 50 million). The brokerage for the quarter that follows the opening of an online trading account is determined by the opening amount of investment, irrespective of the subsequent investments in that quarter. Any amount due to either the broker or investor over and above the brokerage paid is settled every quarter and the opening amount of the next quarter determines the brokerage that will be paid in that quarter. While 5paisa.com has the lowest brokerage -- 0.25 per cent -- on delivery, Angel Broking offers the lowest -0.02 per cent -- on intra-day trading (see A Comparative Look at Online Brokers). Position traders -- investors who buy and hold securities for the long haul -- typically opt for low brokerages. Daily traders, who trade in large volumes, usually settle for what brokers call zero per cent brokerage.

This does not mean that they are not charged brokerage, but alludes to a fixed brokerage fee irrespective of turnover or up to a certain turnover for a period of time: higher the investment, lower the brokerage. For instance, Reliance [ Get Quote ] Money charges Rs 500 for delivery-based volumes up to Rs 10 lakh (Rs 1 million) for two months. If one trades with 5paisa.com for the same volume, the brokerage amount will be Rs 2,500 (at the rate of 0.25 per cent brokerage). So, at this volume, Reliance Money scores over 5paisa.com. However, the fixed brokerage of Reliance Money is higher than 5paisa.com's brokerage for investments less than Rs 2 lakh. For onliners

y y y y y y y y

Brokerage is a recurring cost. Higher trading volume slabs attract lower brokerage. You'll also have to pay an annual maintenance charge. Some brokers insist on a minimum transaction volume and charge their lowest brokerage for it. Opt for the same depository and trading body to avoid delays in settlement of shares and cash. Margin trading could attract higher brokerage than regular transactions. Online brokers provide regular updates on market favourites. Pick the online broker with the maximum number of collaborating banks. Check out the website's speed and reliability, ease of fund transfer, and the e-broker's customer service quality. The broker's infrastructure should be able to handle large trade volumes.

Account opening and maintenance costs. In order to trade, an investor needs to open two accounts with the brokerage firm - a demat account to keep the shares and a trading account to trade. If cost is an issue, you may select Almondz, for instance, since it charges only Rs 400 for opening an account (see A Comparative Look at Online Brokers), but do not hold a demat account with one company and a trading account with another since it delays the settlement of shares and cash. Another fixed cost is the annual maintenance charge. While some companies such as Kotak Securities have a high maintenance charge, Almondz, Religare, Reliance Money, 5paisa.com and IndiaBulls [ Get Quote ] charge nothing at all. Minimum trade requirements. Some online brokers insist on a minimum transaction volume for which they charge their lowest brokerage. For instance, ICICIDirect.com has set its minimum transaction at Rs 500 and charges a brokerage of Rs 25 on it. Geojit Financial Services [ Get Quote ] has not fixed a minimum transaction amount, but the minimum brokerage is Rs 20. Margin trading. This is available in the online domain and involves paying only a proportion of the trade value upfront. Such trades could attract higher brokerage than the regular transactions. Mostly traders, who go for intraday transactions, go for this form of trading. Investors typically invest for longer periods and margin trading is not suitable for them as brokers charge huge interest on the value of the trade that is not paid upfront.

Access to research. Online brokers provide regular updates on market favourites - stocks to buy, hold or sell - through the Net as well as SMS. Apart from this, a relationship manager is appointed who works as an intermediary between the investor and the broker, and plays the helpful tipper. Investors need to remember amidst the daily onslaught of tips that too much trading does not necessarily translate into big bucks. Tie-ups with banks. To trade with a broking company, you need to have an account with one of its collaborating banks. Typically, broking firms have fewer collaborations with public sector banks. Almondz scores above others here since it has tie-ups with numerous private sector banks and 19 public sector ones. Apart from the charges mentioned above, an investor is required to pay the security transaction tax and service tax (including education cess of 3 per cent), which amount, respectively, to 0.125 per cent of the transaction value and 12.36 per cent of the brokerage amount. These also raise the cost of the trade. Anand Rawani, Outlook Money
Share this

Here you will find a table comparing intraday brokerage charges and delivery brokerage charges charged by different online brokers in India : Sharekhan, ICICIdirect, Motilal Oswal, Religare, SBICAP Securities, Angel Broking, 5paisa, Indiabulls, UTI Securities, HDFC Securities, Indiainfoline, Reliance Money

Brokerage for Online Broker Delivery

Brokerage for MMC* Intraday trading

SBICAP Securities 0.50% brokerage charges 0.10% NIL

Sharekhan 0.03% - 0.50% brokerage charges 0.03% - 0.10% NIL

Motilal Oswal 0.30% - 0.50% brokerage charges 0.03% - 0.15%

5 paisa brokerage charges

0.25% - 0.85%

0.07%

Angel Broking 0.50% brokerage charges

0.02% - 0.03%

ICICI direct 0.75% brokerage charges 0.15%

Indiabulls 0.25% - 0.50% brokerage charges 0.05% - 0.10%

HDFC Securities 0.50% brokerage charges 0.15%

UTI Securities 0.80% brokerage charges 0.15%

Religare 0.20% - 0.30% brokerage charges 0.02% - 0.03%

Reliance Money 0.01% brokerage charges 0.01% card system

Geogit brokerage charges

0.30%

0.03%

Indiainfoline 0.50% brokerage charges 0.10%

PPFAS 0.25% brokerage charges 0.05%

MMC=Minimum monthly commitment. Brokerage is usually negotiable: Several of you trying to choose an online broker and open an online trading account must have been frustrated trying to search for the exact brokerage charges charged by various online brokers. But the fact is the brokerage charged by the same broker varies and in several cases is negotiable. For example if you go and tell a brokerage house that you are going to deposit 2 lakh rupees and try to convince them you are going to trade heavily, they might consider reducing your brokerage. That is why in the above

table you will find only a range for the brokerage charges in some cases. But that should be enough to get an idea. Effective brokerage with taxes is more: In addition to the above brokerage charges you will have to pay STT (Securities Transaction Tax) at the rate or 0.02% of the total transaction amount. You will also be charged 12.5% Service Tax on the brokerage amount (and not on the transaction amount). For example, if your brokerage is 0.50% for delivery and you do a delivery transaction of Rs.100/- then the total brokerage you pay is 0.50 (brokerage) + 0.02 (stt) + 0.063 (service tax) = 0.58 .

Thus your effective brokerage (including all taxes) will be 0.58%. Similarly for brokerage on intraday transactions. One may also like to compare brokerages charged by the online brokers mentioned above for trading in futures and options. For futures, some online brokers charge different brokerage for different legs of the trade, i.e. different for buy and sell trade. The information here is gathered from indirect sources. In case there are any inaccuracies please let me know by Contacting Us

Trade Stock Trading / Demat / Brokerage

HSBC InvestDirect Stock Trading / Demat /Brokerage

roup has emerged as one of the top 3 retail broking houses in financial services organizations providing varied range of

corporated in 1987, it has memberships on BSE, NSE and the two

HSBC InvestDirect (India) Limited (HIL) is one of the India's

commodity exchanges in India i.e. NCDEX & MCX. Angel is also

d as a depository participant with CDSL.

through its subsidiaries to Individual and Corporate customer listed on the Bombay Stock Exchange Limited (BSE) and Stock Exchange Limited (NSE).

etail stock broking house offering a gamut of retail centric services.

Ebroking

HSBC InvestDirect offers various services that include equity

nvestment Advisory

wealth management, IPO distribution and portfolio man

Portfolio Management Services

services. HSBC InvestDirect has around 240 offices in 80 citie the country.

Wealth Management Services

Commodities Trading Platforms:

rade provides 4 trading platforms, 2 are browser based & 2 are

Trade In: BSE and NSE

on based. Online Stock Trading Platforms:

Angel investor

HSBC InvestDirect offers 3 different online trading platforms customers:

t is a browser based trading platform. The rates are updated on

clicking the refresh button. This facility ensures it is not blocked by

irewall. Thus it is useful for investor who needs to access

1.

SmartSTART

nformation from places where firewall blocks such data.

SmartStart is a powerful browser based Trading pla

beginners. SmartStart trading platform allows their inv flexibility of trading on both the NSE & BSE via screen. Features:

Angel Trade

t is a browser based trading platform. The rates are updated

automatically. This platform is useful for investors & traders to

access market from different terminals.

1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 2.

Trade on NSE & BSE Simple order entry for Equity & Derivatives Fully Customizable display User friendly Get Quote screen Seamless 3-in-1 proposition Live order status Track your orders real-time Dynamic buying power Works behind a Proxy Back office access SmartINVEST

Angel Diet

t is an application based trading platform where rates are updated

automatically. All segments are available on a single screen. This

s ideal platform for the daily traders.

Angel Anywhere

t is an application based trading platform where rates are updated

automatically. This is ideal for investors & traders who are inclined

owards trading based on charts & technical tools.

ge and fees: opening account Rs Rs fees: 575/200/-

SmartInvest is a browser-based trading platform for cu

Account trading account

who transact occasionally. It is ideal for investors who in the Buy and Hold approach towards investment in It gives the benefit of real-time streaming data flexibility Features: of trading on any Internet capable

dity trading - Rs 625/-

Brokerage: up to the range of Rs 1 3 Crore:

ade

1.

Instant access to account with no wait time

Based: trading:

0.50% 0.05% 0.05%

2. 3. 4. 5. 6. 7. 8. 9. 3.

Works behind a Proxy Live Streaming quotes Multiple Watch lists NSE & BSE Access Single order form for Cash and FnO Point and Click order entry Hot Key Functions Back Office access SmartTRADE

es:

e more than Rs 3 Crore, brokerage is about 0.03%.

e procedure to open an account.

ges of Angel Trade

User friendly browser-based / application based online trading

SmartTrade is an EXE based desktop software desi

The auto square off time is at 3:15 and an investor can buy up to 4

active traders who transact frequently to capture sh

e value in his account.

price movements. This platform gives more pers

Trading account can be linked with popular private banks like

investment options to the investors. Following are few features of SmartTrade

ank, ICICI Bank, UTI bank etc.

Trading is available in both BSE and NSE. ntages of Angel Trade Features:

Online money transfer from trading account to bank account not available:

1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 1. 2. 3.

Fully Customizable display Dynamic Charts with Indicators EOD Charts Real-Time market data Advanced Alert capabilities Live order status Track your orders real-time Real time position updates Dynamic buying power Message window docking Useful links about HSBC InvestDirect Website: http://www.hsbcinvestdirect.co.in FAQs:http://www.hsbcinvestdirect.co.in/hsbcwebapp/OnlineTrading/Forms/FAQ.jsp Phone: +91-22-30637777

account can be linked with popular private banks like HDFC Bank,

nk, UTI bank etc. A trader can transfer money from his bank to the

account online. But the reverse transactions are not yet available

ans money, a trader gets after selling shares doesnt get credited in account directly. The trader has to call Angel Trade and request deposit. This takes couple of working days.

y angel trade is kind of behind with ICICIDirect where 3 accounts

ccount, trading account and demat account) are connected so

sly that no manual interfere requires. In ICICIDirect, a trader gets

ey back into his ICICI Bank account as soon as the trader settle

4. 5.

Toll Free: 1800-209-4477, 1800-22-4477 E-Mail: customerservice@hsbcinv.com

Angel & HSBC IDBI & Religare

Geojit & Networth Motila Oswal & HDFC

CICI & Indiabulls Stanchart & Reliance Money

Kotak & PPFAS

There are more than 8,000 SEBI registered brokers and sub-brokers, all providing a similar service, i.e., b

large number, it would be very difficult for you to find the right broker. You must, hence, look for the follow

1.

Reputation: Broking is a business that requires a low capital base. An individual/corporate/institution

National Stock Exchange (NSE) with a net worth of 100 lakhs. No wonder, the number of brokers has grow

with a broker who has a good reputation. This is broadly reflected in the past record and the credibility t these are, ICICI Securities, HDFC Securities, Motilal Oswal Securities etc. 2. Flexibility: The stock exchanges follow the T+2 settlement schedule. This means that settlement the exchange. Some of the brokers do provide flexibility in terms of payments made, while others ask for an available. 3.

broker protects the investor from default risk, fraud and other financial risks. Several institutional brokers ha

Hence, if you decide to buy shares on a given day, you must submit the cheque to the broker well in advance

allow margin based trades and square off of positions in intra-day transactions. Ideally, you must check with

Broking rates: As per SEBI guidelines, a broker can charge a maximum of 2.5 per cent of the consid

charged by most, ranges from 0.20 to 0.75 per cent for delivery based and .001 to .05 for intraday. Brok

reduces the realization from sale of securities. You must therefore check the rates charged. Sometimes, a m 4. Different modes of transactions: An investor can buy or sell securities, either by phone, by giving an

irrespective of the value. Brokers also provide competitive rates to the high value investors and to regular tra

personal visits. The broker identifies transaction done on telephone by an alphanumeric code allocated to th mechanism.

conducted by using a user id and password on the brokers website. This is basically a unique identificat

Service Quality: Service quality of the broker is another important determinant. For instance, how fast a br

his service standards. Since markets operate on a real time basis, at times, small delays result in financial loss

of security by the broker to the client account, settlement of funds, timely dispatch of contract notes, providin

Selecting a depository participant (DP): Gone are the days when shares were bought and sold in physic

transacted in electronic form, which is made possible by the process of dematerialisation (demat). A demat a by law in India to open demat accounts and are agents of the depository, acting as intermediaries between sell transaction leads to a

in electronic form. Just like a bank account is opened with a bank, a demat account is opened with a Deposito

works on a book entry form where shares are debited and credited as and when clients buy or sell. A buy tr

There are more than 250 DPs registered with two depositories in India, which are NSDL (National Sec

(Central Depository Services Limited). Once again, due to this high number, you must filter the right cho There are several kinds of DPs operating in the market. They can be broadly classified as follows: 1. 2. 3. 4. Banks working as DPs such as HDFC Bank, ICICI Bank, UTI Bank and several PSU Banks. Brokers acting as DPs like ShareKhan, Motilal Oswal, Anand Rathi etc. Others would include Indiabulls and Foreign Banks How to select a DP of your choice: You need to keep the following in mind while selecting a DP: a.

Custodians such as Stock Holding Corporation of India Ltd., Infrastructure Leasing and Financial Ser

Reputation: Three leading DPs in India in terms of number of demat accounts are ICICI Bank, Stock HDFC Bank. Though there is no method available to grade DPs, certain past events give a fair idea of

inspections in the IPO scam in 2006, some DPs were found to be following unfair practices and consequent opening your demat account. The web page of NSDL and CDSL provide FAQs for investors in this regard. b. 1. 2. 3. 4. Cost: With effect from 1st April 2007, SEBI has made it mandatory for DPs to display the charges Annual Maintenance Charges Charges for debit in demat account Demat and remat charges Charges for pledge of securities

events may be used as benchmarks for reputation. Also, you should check whether the DP follows the guid

website. This is updated twice a year so that you can analyse the charges of different DPs. Some standard cha

It is important for you to know that now DPs are not allowed to charge for opening accounts, cr

accounts from one DP to another, if the account is in the same name. Further, some broker DPs, don

However they club these charges along with brokerage. You must therefore clarify with broker DPs re

c.

Accessibility: Since you get only two days to transfer shares from your account to the brokers acc

whether the DP is easily accessible or not. Investors who have opened demat accounts with DPs, who are

electronic transfer of shares, can avail of this facility. This means that you need not visit the DPs office pers electronic transfer facility and are not well spread geographically.

slip meant to transfer shares from your account to the brokers account. It would therefore be better if y

Need for a banking account: Transactions involving shares require movement of money in and out of y mandatory along with broking and demat accounts. You may use your savings account for purchase and sale

details

in

your

demat

and

Three-in-One demat account: Some brokers and banks offer a Three In One demat account, where you o with the same entity, in case of a bank DP. Elsewhere, if the DP is a broker, an existing bank account can One account. This ensures easy transfer of funds. However, in some cases the brokers insist on opening a

they often have tie ups with that bank. These accounts or tie ups are beneficial as they provide a one stop so account facilities are available. This facility is majorly given by banks

and unnecessary paper work. This has also proven to be cost effective. E-trading platforms are also availab

Requirements for opening a demat account: The following documents are required to open a demat account:

a. b. c. d.

Proof of residence (NSDL and CDSL provide a list of acceptable documents as POR which include driving licence etc.) Proof of identity (PAN card is mandatory) Bank account details (A cancelled cheque for capturing MICR) Nominee details

Bank account details must get properly captured in a demat account as benefits like dividend and interest are directl you make an application for an IPO, you receive a direct credit in your account to

Requirements for opening a broking account: The following documents are essential to open a broking ac

a. b. c. What

Proof of residence (A list of acceptable documents provided) Proof of identity (Since PAN is must, it is used as POI) Bank account details (cancelled cheque for direct debits and credits) will happen if my DP goes bankrupt

In a rare event of your DP going bankrupt or closing its operations, the interests of the investors will be

investor will be given an option of either transferring the securities to a new DP or rematerialize the securitie

Online Broker Selection

Starting investments: Once you are through with this paper work, you are ready to start investing. Buying a

from 9: 00 a.m. to 3:30 p.m. on all working days. Stock exchanges dont work on Saturdays, Sun

(c) www.theequitymarkets.com . Designed, maintained and owned by Alok S Agrawal

k Trading /Demat /Brokerage

PPFAS (Parag Parikh Financial) Trading/ Dem

PPFAS offers you a pure delivery based trading platform through

ecurities Limited, the leading stock broking house of India is

low cost. Our Company is not impersonal like other online brokera

indra Bank. Company offering includes stock broking through

or visit us for help or advice. The online platform of PPFAS may n

ments in IPO, Mutual funds and Portfolio management service.

for Futures and Options trading as PPFAS offers online brokerage

ement services to high net worth individuals and corporate

transactions. PPFAS believes that Futures and Options carry inhe

o distributes a range of financial products, including company

this segment can be done only over the phone. Further margins c than the minimum prescribed by the exchange. This is to prevent transactions in volatile markets.

tial public offerings, secondary debt, equity, and small savings

y the company are available though its internet portal. In early

Account Opening

s global trading platform in India. This platform provide direct

REITS spanning 24 stock exchanges across the USA, Europe,

Client can open an online trading account from anywhere in India.

Multiple banks to transfer funds

member of both Bombay Stock Exchange (BSE) and National

ntly, Kotak Securities is one of the largest broking houses in

You will have options of multiple banks to transfer funds like ICICI

ach.

Bank. This is unlike the bank promoted brokerage firms ICICIDirec which restrict it to the parent bank.

Attractive Brokerage

Attractive brokerage rates: 0.25% vs. 0.50% to 0.75% charged b Further this discounted rate comes to you regardless of volumes. commitments. Some brokers offer lower rates only to people who

pes according to users requirement:

transactions. We are however not in the business of providing virt card kind of brokerage.

ount is specially made for those investors who are averse to

igh volumes in futures and options. Free of cost - Diet Software for Online trading

d in this account as account is mainly focused on derivative dedicated teams for technical and derivative analysis. Kotaks

Apart from using online version of IBT, clients get software (DIET)

es various parameters of derivative data, so investor need not

companies charge 700-2000 for the software + 150-900 dependin

data analyzing. An investor gets access to both dealers and Research Recommendations

peak to them directly via phone/chat. This opportunity gives

ationale behind a particular position or strategy at all times, team and seek guidance on their portfolio.

and know details on market movements etc. In Super investor also will be able to use advanced strategies. Kotaks

Clients benefit from the published research of PPFAS. Clients can

gies to their investors positions where the risk return ratio is Other Benefits

k securities Super Derivatives account with minimum amount

Quick assistance to clients who need help available

by way of cash or stock. For Derivative brokerage - Futures is

Clients can make their own decisions and take actions qu Payouts takes play directly to your account.

for Derivative brokerage - Options is 0.05% or Rs 150 per

gher (both sides). Delivery Brokerage is 0.45%.

Clients have an option of dealing over the phone in case o

Depository Services

Online Trading Account which provide investment planning in

Traded Funds), Equities and Mutual Funds to their customers. fund schemes that will invest the money collected from their

You will be able to keep track of your broking account and dem same roof.

old bullion.

he recommendation according to investor's risk capability and

You will be enjoying the following benefits of opening demat accou

mum investment of Rs 5000 required for AutoInvest account.

.

Maintaining demat account with us will be very cost effec Rs. 13/- per transaction.

nt opens the gateway to a world of investing opportunities for

You do not have to give delivery instructions as you

way user can trade anywhere, anytime using internet. Kotak

.

executing POA (Power of Attorney) in favour of PPFAS for sale tra

e facility.

You do not have to keep track of maintaining collate department will take care of the same on your behalf.

e SMS alert, research report, free news and market updates to

You will be able to track your stock as at the time of ex

est feature of Kotak gateway is call and trade facility. Anybody

automatically check the availability of balance in your demat acco fear.

.

ateway account with any amount between Rs 20,000 to 5,

n form of cash deposit or the value of the shares you buy.

You will be able to view online your stock balance along website.

ged based on the account type. For intraday trading brokerage

.

ess then 25 lakhs and .023% for more then 25 crores.

You will be intimated by NSDL of any debit transaction in

of credit effect against corporate action like bonus, stock split, me if any in your account through SMS.

s the premium investment account offed by Kotak Securities.

Brokerage Charges http://www.ppfas.com/pdf-docs/products-services/stock-bro

eway account benefits Kotak provides independent market through a dedicated relationship manager and a dedicated

which provides assistance in opening accounts, handling day-

more. They provides KEAT premium which is an exclusive monitor what is happening in the market and view your gains

ak Privilege Circle account with any amount more than Rs.

y way of cash or stock. For intraday trading brokerage is .06% 25 lakhs and .03% for more then 25 crores.

ounts, Kotak Securities also provide following accounts:

for Mutual Fund Investments.

aver, a Flat Brokerage and a Low Margin account. Management Service), an account for people who need an

nvestments.

online trading an investment account for NRI investors. g fees:

otak brokerages are from 0.02% to 0.06% both sides.

Kotak brokerages vary from 0.18% to 0.59% based on the

brokerage

rate

offered

by

Kotak

m/supertrader/lowbrokerage/lowbrokerage.html

es Online Trading

company provides a single platform for investments in equities,

rivatives. Available margin can be used for any of the three

platform provided by the company allows direct access to

nning 24 stock exchanges across the USA, Europe, Asia and

launched an interesting Smart Order feature to its online

n order to buy or sell stocks at BSE and NSE, customer can

ected, this option offers customers the best available price

ption is available to all the customers of the company.

Call & Trade facility to its customers wherein they can place

hone when they are away from home.

de daily SMS alerts, market pointers, periodical research

s etc.

ve online tool to monitor what is happening in the market and

ses in real-time.

helps customers to resolve issues faster.

Citibank, HDFC Bank, UTI Bank and Kotak Mahindra Bank as

ng account. Investors holding account with these banks can

ccount with Kotak. ies Online Trading

time.

ing portal is not available.

IDBI & Religare

Motila Oswal &

e Money

Geojit & Networth

(c) www.theequitymarkets.com . Designed, maintained and owned by Alok S Agrawal

http://www.theequitymarkets.com/brok_hs_kotak.htm http://www.theequitymarkets.com/brokerage%20charges.htm http://www.theequitymarkets.com/brok_hs_angel_hsbc.htm http://www.theequitymarkets.com/brok_hs_icici_ibulls.htm http://www.theequitymarkets.com/brok_hs_idbi_religare.htm http://www.theequitymarkets.com/brok_hs_angel_hsbc.htm http://www.theequitymarkets.com/choosing_a_broker.htm

Comparison of Brokers in India

A comprehensive report on major Stock Broker brokers (BSE and NSE) Choosing A Broker details demat opening Online Broker Selection brokerage charges, Online Trading Tips annual comparing such as

account fees,

maintenance charges,

Demat Account

supported browsers,

Demat Account Charges

features etc.

Brokerage Houses

When opening a new account demat with a

Brokerage Structures of Major Broking Houses In India

broker and try

negotiate to of get the waived

Broker Comparison

some charges off.

Angel Broking

Account Opening Charge

(AOC): Rs 740

Annual Maintenance Charge (AMC):

1st year free. Rs 300 2nd year on. Brokerage : 50p (delivery), 10p Rate (intra-day). negotiable

for bulk orders.

Bonanza

Account Opening Charge

(AOC): Rs 888 Annual Maintenance Charge Nil. Brokerage : 25p (delivery), 5p (intra-day). (AMC):

Canmoney

Account Opening Charge

(AOC): Rs 500

Annual Maintenance Charge (AMC):

1st year free. Rs 200 2nd year on. Brokerage : 0.35%

(delivery). Buy Nil, Sell - 0.05% (intra-day) (Min

Rs 20; Max Rs 500). Enquiry: 1-800-220-369

Geojit Paribas

BNP

Account Opening Charge

(AOC): Rs 650 Annual Maintenance Charge Rs 300 Brokerage : 0.30% (AMC):

(delivery). 0.03% (intra-day) Browsers: IE 6.0+

Enquiry: 1-800-425-5501

HDFC Securities

Account Opening Charge

(AOC): Rs 799 Annual Maintenance Charge

st

(AMC):

1 year free. Rs 500 onwards. Brokerage : Higher of Rs 25 or 0.5% of 2nd year

transaction value (delivery). Higher of Rs 25 or 0.1% of

transaction value (intra-day). Browsers: IE 5.0+, NN 8.1+ and FF 1.5+ Enquiry: 1-800-209-9700

ICICI Direct

Account Opening Charge

(AOC): Rs 975 Annual Maintenance Charge 1 year

st

(AMC): free;

Second year on Rs 500 (paper Rs

statements), 450 statements)

(email

Brokerage : Higher of Rs 25 or (delivery). Higher of Rs 15 or 0.05% of 0.75%

transaction value (intra-day).

IDBI Paisabuilder

Account Opening (AOC): Charge Rs 499

(basic plan), Rs 700+ (turnover

based plan) Annual Maintenance Charge 1st year (AMC): free;

Second year on Rs 350 Brokerage : 0.65% (delivery), 0.06% (intra-day). Browsers: IE 6.0+ Enquiry: 1-800-223-366

Indiabulls

Account Opening Charge

(AOC): Rs 900 Annual Maintenance Charge (AMC): Nil Brokerage : 0.35% (delivery). 0.05% (intra-day).

India Infoline

Account Opening (AOC): (waived Charge Rs off 555 for of

employees MNCs) Annual Maintenance

Charge (AMC): Nil Brokerage : 25p (delivery). 5p (intra-day).

Kotak Securities

Account Opening (AOC): Charge Rs 750

(Rs 250 credited in new account) (waived off for of

employees MNCs) Annual Maintenance Charge Rs 360

(AMC):

Brokerage : 0.59% (delivery). 0.6% (intra-day). Browsers:

IE 6.0+ Enquiry: 1-800-209-9191, 1-800-222-299

Motilal Oswal

Account Opening (AOC): Nil. Annual Maintenance Charge (AMC): Charge

1st year free. Rs 100 2nd year on. Brokerage : 0.3% (delivery). Buy - Nil, Sell 0.05% (intra-day).

Networth Direct

Account Opening Charge

(AOC): Rs 250. Annual Maintenance Charge Rs 400. (AMC):

Brokerage : 0.5% (delivery). 0.05% (intra-day). Browsers: IE 6.0+ Enquiry: 1-800-220-223

Reliance Money

Account Opening (AOC): (waived Charge Rs off 750 for of

employees MNCs) Annual Maintenance Charge Rs 200

(AMC):

Brokerage : 1p (delivery and intra-day).

Religare

Account Opening Charge

(AOC): Rs 500

Annual Maintenance Charge Rs 250 Brokerage : 0.3% (delivery). 0.06% (intra-day) 0.06% (futures). Browsers: IE 5.5+ Enquiry: 1-860-258-8888 (AMC):

SBI

Account Opening Charge

(AOC): Rs 400 Annual Maintenance Charge Rs 400 Brokerage : 0.5% (delivery). 0.15% (intra-day). Browsers: IE 6.0+ and FF 1.5+ Enquiry: 1-800-223-345 (AMC):

Sharekhan

Account Opening (AOC): Charge Rs 750

Online, (Rs 500 Offline, plus Rs 160 charge) Annual Maintenance Charge (AMC): franking

1st year free. Rs 300 onwards. Brokerage : Higher of 0.5% or 10 paise/share (delivery). Higher of 0.1% or 5 2nd year

paise/share (intraday).

SMC India

Account Opening Charge

(AOC): Rs 499.

Annual Maintenance Charge (AMC): Nil (till March 2010). Brokerage : 0.3% (delivery). 0.03% (intra-day).

Ventura

Account Opening Charge

(AOC): Rs 3500 Annual Maintenance Charge 1 year 2 year 400 Brokerage : 0.2% (delivery). 0.03%(intra-day).
nd st

(AMC): free; on Rs

Way2Wealth

Account Opening Charge

(AOC): Rs 350. Annual

Maintenance Charge Rs 300. Brokerage : 0.5% (delivery). 0.05% (intra-day). Browsers: IE 6.0+ Enquiry: 1-800-425-3690 (AMC):

(c) www.theequitymarkets.com . Designed, maintained and owned by Alok S Agrawal

http://www.theequitymarkets .com/broker_comparison.htm
Brokerage firms are the business entities that deal with stock trading. India, with an increasing capital market and a growing number of investors, has a number of brokerage firms. In Indian retail brokerage industry, the brokerage firms primarily work as agents for buying and selling of securities like shares, stocks and other financial instruments and earn commission for each of the transactions. There are plenty of brokerage firms in India. Let's have a look at the top 10 brokerage firms in India. Before talking anything about top brokerage firmsin India, let's have a glance at the Indian retail brokerage market, which is going through a wonderful phase with high growth rate. The total trading volume of the Indian brokerage companies stood at US$ 1239.1 billion in the year 2004, which increased to US$ 1492.1 billion in 2005. It is further expected to reach US$ 6535.7 billion by the year 2015.

List of Top 10 Brokerage Firms in India

Among all the Indian brokerage companies, the top 10 Brokerage Firms in India can be listed as below:

Name

Kotak Securities Limited

Terminals Sub Brokers No. of Employees No. of Branches Name Terminals Sub Brokers No. of Employees No. of Branches Name Terminals Sub Brokers No. of Employees No. of Branches Name Terminals Sub Brokers No. of Employees No. of Branches Name Terminals Sub Brokers No. of Employees No. of Branches Name Terminals Sub Brokers No. of Employees No. of Branches Name

4320 910 4008 350 Karvy Stock Broking Limited 1700 19000 3910 581 Indiabulls 2876 NA 5873 522 IL&FS Investmart Limited 1644 NA 1900 294 Motilal Oswal Securities 7923 890 2193 63 Reliance Money 2428 1494 2037 142 India Infoline

Terminals Sub Brokers No. of Employees No. of Branches Name Terminals Sub Brokers No. of Employees No. of Branches Name Terminals Sub Brokers No. of Employees No. of Branches Name Terminals Sub Brokers No. of Employees No. of Branches

173 173 NA 605 Angel Broking Limited 5715 NA 284 NA Anand Rathi Securities Limited 1527 320 4566 220 Geojit 627 247 343 314

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Broking Insights The Indian broking industry is one of the oldest trading industries that has been around even before the establishment of the BSE in 1875. Despite passing through a number of changes in the post liberalisation period, the industry has found its way towards sustainable growth. With the purpose of gaining a deeper understanding about the role of the Indian stock broking industry in the countrys economy, we present in this section some of the industry insights gleaned from analysis of data received through primary research. For the broking industry, we started with an initial database of over 1,800 broking firms that were contacted, from which 464 responses were received. The list was further short listed based on the number of terminals and the top 210 were selected for profiling. 394 responses, that provided more than 85% of the information sought have been included for this analysis presented here as insights. All the data for the study was collected through responses received directly from the broking firms. The insights have been arrived at through an analysis on various parameters, pertinent to the equity broking industry, such as region, terminal, market, branches, sub brokers, products and growth areas. Some key characteristics of the sample 394 firms are:

y y y y y y y y y y

On the basis of geographical concentration, the West region has the maximum representation of 52%. Around 24% firms are located in the North, 13% in the South and 10% in the East 3% firms started broking operations before 1950, 65% between 1950-1995 and 32% post 1995 On the basis of terminals, 40% are located at Mumbai, 12% in Delhi, 8% in Ahmedabad, 7% in Kolkata, 4% in Chennai and 29% are from other cities From this study, we find that almost 36% firms trade in cash and derivatives and 27% are into cash markets alone. Around 20% trade in cash, derivatives and commodities In the cash market, around 34% firms trade at NSE, 14% at BSE and 52% trade at both exchanges. In the derivative segment, 48% trade at NSE, 7% at BSE and 45% at both, whereas in the debt market, 31% trade at NSE, 26% at BSE and 43% at both exchanges Majority of branches are located in the North, i.e. around 40%. West has 31%, 24% are located in South and 5% in East In terms of sub-brokers, around 55% are located in the South, 29% in West, 11% in North and 4% in East Trading, IPOs and Mututal Funds are the top three products offered with 90% firms offering trading, 67% IPOs and 53% firms offering mutual fund transactions In terms of various areas of growth, 84% firms have expressed interest in expanding their institutional clients, 66% firms intend to increase FII clients and 43% are interested in setting up JV in India and abroad In terms of IT penetration, 62% firms have provided their website and around 94% firms have email facility

Terminals Almost 52% of the terminals in the sample are based in the Western region of India, followed by 25% in the North, 13% in the South and 10% in the East. Mumbai has got the maximum representation from the West, Chennai from the South, New Delhi from the North and Kolkata from the East.

Mumbai also has got the maximum representation in having the highest number of terminals. 40% terminals are located in Mumbai while 12% are from Delhi, 8% from Ahmedabad, 7% from Kolkata, 4% from Chennai and 29% are from other cities in India.

Branches & Sub-Brokers The maximum concentration of branches is in the North, with as many as 40% of all branches located there, followed by the Western region, with 31% branches. Around 24% branches are located in the South and East constitutes for 5% of the total branches of the total sample. In case of sub-brokers, almost 55% of them are based in the South. West and North follow, with 30% and 11% sub-brokers respectively, whereas East has around 4% of total sub-brokers.

Financial Markets The financial markets have been classified as cash market, derivatives market, debt market and commodities market. Cash market, also known as spot market, is the most sought after amongst investors. Majority of the sample broking firms are dealing in the cash market, followed by derivative and commodities. 27% firms are dealing only in the cash market, whereas 35% are into

cash and derivatives. Almost 20% firms trade in cash, derivatives and commodities market. Firms that are into cash, derivatives and debt are 7%. On the other hand, firms into cash and commodities are 3%, cash & debt market and commodities alone are 2%. 4% firms trade in all the markets.

In the cash market, around 34% firms trade at NSE, 14% at BSE and 52% trade at both exchanges. In the equity derivative market, 48% of the sampled broking houses are members of NSE and 7% trade at BSE, while 45% of the sample operate in both stock exchanges. Around 43% of the broking houses operating in the debt market, trade at both exchanges with 31% and 26% firms uniquely at NSE and BSE respectively.

Of the brokers operating in the commodities market, 57% firms operate at NCDEX and MCX. Around 20% and 21% firms are solely in NCDEX and MCX respectively, whereas 2% firms trade in NCDEX, MCX and NMCE.

Products The survey also revealed that in the past couple of years, apart from trading, the firms have started offering various investment related value added services. The sustained growth of the economy in the past couple of years has resulted in broking firms offering many diversified services related to IPOs, mutual funds, company research etc. However, the core trading activity is still the predominant form of business, forming 90% of the firms in the sample. 67% firms are engaged in offering IPO related services. The broking industry seems to have capitalised on the growth of the mutual fund industry, which was pegged at 40% in 2006. More than 50% of the sample broking houses deal in mutual fund investment services. The average growth in assets under management in the last two years is almost 48%. Company research is another lucrative area where the broking firms offer their services; more than 33% of the firms are engaged in providing company research services. Additionally, a host of other value added services such as fundamental and technical analysis, investment banking, arbitrage etc are offered by the firms at different levels.

Of the total sample of broking houses providing trading services, 52% are based in the West, followed by 25% from North, 13% from South and 10% from the East. Around 50% of the firms offering IPO related services are based in the West as compared to 27% in North, 13% in South and 10% in East. In providing mutual funds services, the Western region was dominant amounting to 49% followed by 27% from North; The South and the East are almost at par with 13% and 11% respectively. Future Plans 68% of the firms from the sample have envisaged strategies for future growth. With the middle class Indian investor as well as foreign investor willing to invest in the stock market, majority of the firms preferred expansion of institutional and the Foreign Institutional Investor clients in their areas of growth. Around 84% have shown interest in expanding their institutional client base. Nearly 51% of such firms are located in the West, 25% in North, 15% are from South and 9% from East. Since the past couple of years, India, along with Korea and Taiwan, has been one of the preferred destinations for the FIIs. With corporate restructuring, rising market capitalisation and sectoral friendly policies helping the FIIs, more than two thirds of the firms are interested in increasing their FII client base. Amongst these firms, West again has maximum representation of 53%, followed by North with 22%. South has 15% firms and East makes up for 9%.

Company Name Karvy Stock Broking Limited

Total Sub No.of Terminals Brokers Employees 477 15000 4500

Number of Branches 550

City Hyderabad

Angel Broking Limited Peerless Securities Limited Anagram Securities Limited SMC Global Securities Limited UAE Exchange & Finance Limited Motilal Oswal Securities Limited ICICI Securities Limited Bonanza Portfolio Limited

5081 36 999 3231 40 4179 1051 2177

2408 1000 964 800 700 638 587 536

1800 73 1183 1000 1890 2000 1833 1200

66 18 139 800 210 60 270 380

Mumbai Kolkata Mumbai New Delhi Kochi Mumbai Mumbai Delhi

Asit C. Mehta Investment Interrmediates 713 Limited Sykes & Ray Equities (India) Limited ASE Capital Markets Limited 18 471

320

350

18

Mumbai

300 200 200 180 167

50 50 150 70 100

250 1 20 180 10

Mumbai Ahmedabad Mumbai Jaipur Bangalore

Kantilal Chhaganlal Securities Private Limited 412 Hem Securities Limited BgSE Financials Limited > 114 320 >>