amit project(2).docx

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CHAPTER-1

INTRODUCTION

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INTRODUCTION:

1.1 About the industry

INDUSTRY OERIE!:

Stock exchanges to some extent play an important role as indicators, reflecting to the

performance of the countrys economic state of health. Stock market is a place where

securities are sold and bought. It is exposed to a high degree of volatility; prices fluctuate

within minutes and are determined by the demand and supply of stocks at a given period of

time. Stock brokers are the ones who buy and sell securities, shares on behalf of individuals

and institutions for some commission.

he securities market has two interdependent and inseparable segments the ne" issue

#$ri%&ry %&r'et(and the sto)' #se)ond&ry %&r'et!.

Pri%&ry %&r'et"

he primary market is the part of the capital markets that deals with the issuance of new

securities companies; government or public sectors institutions can obtain funding through

the sales of anew stock or bond issue. his is typical done through a syndicate of securities

dealers .the process of selling new issues to investor is called underwriting. In the case of a

new stock issue, this sale is an initial public offering #I$%!. &ealers earn a commission that is

built into the price of the security offering. hrough it can be found in the prospectus.

In primary market certain companies issue their shares directly to the public, collect

application and after sorting out the good issues, they put in their applications. he share

brokers get their brokerage on the transactions made.

Se)ond&ry %&r'et:

he secondary market is that market in which trading is done of securities that have already

been issued in an initial private or public offering. he secondary market comprises of

brokerage that a broker earns in the buying and selling of companies that are listed in the

stock exchange. hese stock brokers are in charge of the conformation and carrying out of

transactions. %rders are taken and executed on behalf of the clients. he fluctuation of rates

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in the share market makes the activity in a trade market a dynamic process. It is necessary for

a brokers to have ade(uate knowledge about the economic and political factors as they affect

the share market.

S)*I" S)*I #S)+-II)S /& )0+/2) *%-& %3 I/&I! is the authori4ed body

which regulates and controls all the operations of the stock exchanges and other financial

institutions in India.

It was established in the year 1566 and given statutory powers on 1'

pril 155' through the S)*I ct, 155'. Its main role is to aware the people about stock

market trading and to provide better 7 safe environment for trading. he past performances

in the capital market especially the securities scam by 8arshad 9ehta has led to tightening

of the operations by S)*I. In addition the international trading and investment exposure has

made it imperative to better operational efficiency. :ith the view to improve, discipline and

bring greater transparency in this sector, constant efforts are being made and to a certain

extent improvements are made.

HISTORY O* INDUSTRY:

he initial emergence of stock markets in the world can be traced back over hundreds of

years to when industriali4ation and innovation took hold in )urope. he rapid economic

growth in the past one hundred years gave rise to the explosive development of stock

markets. t the same time the enhancement of stock markets has played an important role in

promoting the growth of the world economy. he modern market economy depends to agreater extent on a soundly operated stock market.

In 1'th century 3rance, the courretiers de change were concerned with managing and

regulating the debts of agricultural communities on behalf of the banks. *ecause these men

also traded with debts, they could be called the first brokers. common misbelief is that in

late 1th century *rugescommodity traders gathered inside the house of a man called 5 they became the ?*rugse *eurse?, institutionali4ing what had been,

until then, an informal meeting, but actually, the family


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inntwerpwhere those gatherings occurred;the


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Common forms of capital raising

*esides the borrowing capacity provided to an individual or firm by the banking system, in

the form ofcreditor a loan, there are four common forms of capital rising used by companies

and entrepreneurs. 9ost of these available options might be achieved, directly or indirectly,

involving a stock exchange.

+oin, $ubi)

+apital intensive companies, particularly high techcompanies, always need to raise high

volumes of capital in their early stages. 3or this reason, the public market provided by the

stock exchanges has been one of the most important funding sources for many capital

intensive startups. fter the 155>s and earlyD'>>>s hiDtech listed companiesF boom and bust

in the worldFs maCor stock exchanges, it has been much more demanding for the highDtech

entrepreneur to take hisher company public, unless either the company already has productsin the market and is generating sales and earnings, or the company has completed advanced

promising clinical trials, earned potentially profitable patents or conducted market research

which demonstrated very positive outcomes. his is (uite different from the situation of the

155>s to earlyD'>>>s period, when a number of companies #particularly Internet boom and

biotechnology companies! went public in the most prominent stock exchanges around the

world, in the total absence of sales, earnings and any wellDdocumented promising outcome.

nyway, every year a number of companies, including unknown highly speculative and

financially unpredictable hiDtech startups, are listed for the first time in all the maCor stock

exchanges E there are even speciali4ed entry markets for this kind of companies or stock

indexes tracking their performance #examples include the lternext, ++ Small, S&0,

ec&0, or most of the third marketcompanies!.

i%ited $&rtnershi$s

number of companies have also raised significant amounts of capital through -7&limited

partnerships. ax law changes that were enacted in 156J in the nited States changed the tax

@
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deductibility of investments in -7& limited partnerships. In order for a partnership to be of

interest to investors today, thecash on cash returnmust be high enough to entice investors. s

a result, -7& limited partnerships are not a viable means of raising money for most

companies, specially hiDtech startups.

enture )&$it&

third usual source of capital for startup companies has been venture capital. his source

remains largely available today, but the maximum statistical amount that the venture

company firms in aggregate will invest in any one company is not limitless #it was

approximately K1@ million in '>>1 for a biotechnology company!. LBMt those level, venture

capital firms typically become tappedDout because the financial risk to any one partnership

becomes too great.

Cor$or&te $&rtners

fourth alternative source of cash for a private company is a corporate partner, usually anestablished multinational company, which provides capital for the smaller company in return

for marketing rights, patent rights, or e(uity. +orporate partnerships have been used

successfully in a large number of cases.

/obii0in, s&in,s 2or inest%ent

:hen people draw their savings and invest in shares #through an I$%or theissuance of new

company shares of an already listed company!, it usually leads to rational allocation of

resources because funds, which could have been consumed, or kept in idle deposits with

banks, are mobili4ed and redirected to help companiesF management boards finance their

organi4ations. his may promote business activity with benefits for several economic sectors

such as agriculture, commerce and industry, resulting in stronger economic growth and higher

productivitylevels of firms. Sometimes it is very difficult for the stock investor to determine

whether or not the allocation of those funds is in good faith and will be able to generate longD

term company growth, without examination of a companyFs internal auditing.

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*&)iit&tin, )o%$&ny ,ro"th

+ompanies view ac(uisitions as an opportunity to expandproduct lines, increase distribution

channels, hedge against volatility, increase its market share, or ac(uire other necessary

business assets.takeoverbid or amerger agreement through the stock market is one of the

simplest and most common ways for a company to grow by ac(uisition or fusion.

Pro2it sh&rin,

*oth casual and professionalstock investors, as large as institutional investorsor as small asan ordinary middleDclass family, through dividendsand stock priceincreases that may result

in capital gains, share in the wealth of profitable businesses. nprofitable and troubled

businesses may result in capital lossesfor shareholders.

Cor$or&te ,oern&n)e

*y having a wide and varied scope of owners, companies generally tend to improve

management standards and efficiencyto satisfy the demands of these shareholders, and the

more stringent rules for public corporations imposed by public stock exchanges and the

government. +onse(uently, it is alleged that public companies #companies that are owned by

shareholders who are members of the general public and trade shares on public exchanges!

tend to have better management records than privately held companies #those companies

where shares are not publicly traded, often owned by the company founders andor their

families and heirs, or otherwise by a small group of investors!.

&espite this claim, some wellDdocumented cases are known where it is alleged that there hasbeen considerable slippage in corporate governance on the part of some public companies.

he dotDcom bubble in the late 155>s, and the subprime mortgage crisis in '>>JE>6, are

classical examples of corporate mismanagement. +ompanies like $ets.com #'>>>!, )nron

+orporation #'>>1!, %ne.el #'>>1!, Sunbeam #'>>1!, :ebvan #'>>1!, delphia #'>>'!,

9+I :orld+om#'>>'!, $armalat #'>>!, merican International 2roup#'>>6!, *ear Stearns

#'>>6!, Aehman *rothers #'>>6!, 2eneral 9otors #'>>5! and Satyam +omputer Services

#'>>5! were among the most widely scrutini4ed by the media.

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owever, when poor financial, ethical or managerial records are known by the stock

investors, the stock and the company tend to lose value. In the stock exchanges, shareholders

of underperforming firms are often penali4ed by significant share price decline, and they tend

as well to dismiss incompetent management teams.

Cre&tin, inest%ent o$$ortunities 2or s%& inestors

s opposed to other businesses that re(uire huge capital outlay, investing in shares is open to

both the large and small stock investorsbecause a person buys the number of shares they canafford. herefore the Stock )xchange provides the opportunity for small investors to own

shares of the same companies as large investors.

+oern%ent )&$it&-r&isin, 2or deeo$%ent $ro3e)ts

2overnments at various levels may decide to borrow money to finance infrastructure proCects

such as sewage and water treatment works or housing estates by selling another category of

securities known asbonds. hese bonds can be raised through the Stock )xchange whereby

members of the public buy them, thus loaning money to the government. he issuance of

such bonds can obviate the need, in the short term, to directly tax citi4ens to finance

developmentNthough by securing such bonds with the full faith and credit of the government

instead of with collateral, the government must eventually tax citi4ens or otherwise raise

additional funds to make any regular coupon payments and refund the principal when the

bonds mature.

4&ro%eter o2 the e)ono%y

t the stock exchange, share prices rise and fall depending, largely, on marketforces. Share

prices tend to rise or remain stable when companies and the economy in general show signs

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of stability and growth. n economic recession, depression, or financial crisis could

eventually lead to a stock market crash. herefore the movement of share prices and in

general of the stock indexescan be an indicator of the general trend in the economy.

Speculation

he stock exchanges are also fashionable places for speculation. In a financial context, the

terms ?speculation? and ?investment? are actually (uite specific. 3or instance, although the

word ?investment? is typically used, in a general sense, to mean any act of placing money in a

financial vehicle with the intent of producing returns over a period of time, most ventured

moneyNincluding funds placed in the worldFs stock marketsNis actually not investment but

speculation.

TOP 15 STOC6 E7ACHAN+ES IN THE !ORD

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1>


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INDIAN STOC6 E7CHAN+ES

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N&ture o2 & Sto)' E8)h&n,ehe stock exchanges are the pillars of our modern financial capitalism.' he stock exchange

represents an organi4ed market for trading in securities. ?Stock )xchange is an association,

organi4ation or body of individuals, whether incorporated or not, established for the purpose

of assisting, regulating and controlling business in buying, selling and dealing in securities?.

he securities dealt in at a stock exchange include the share; and debentures of public

companies already issued by them, 2overnment securities and the bonds and debentures

issued by municipal bodies, public sector undertakings and port trusts.

Ori,in &nd +ro"th o2 Sto)' E8)h&n,es in Indi&he Stock )xchange is an institution of rather recent growth. istorical records show that

there was stock trading in India at *ombay and +alcutta in the first half of the 15th century.

hough there was stock trading even at the time of the )ast India +ompany, stock business

started in its organi4ed form only in 16J@.

History o2 Indi&n Sto)' /&r'et

Indian stock market marks to be one of the oldest stock market in sia. It dates back to the

close of 16th century when the )ast India +ompany used to transact loan securities. In the

16>s, trading on corporate stocks and shares in *ank and +otton presses took place in

*ombay. hough the trading was broad but the brokers were hardly half do4en during 16=>

and 16@>.

n informal group of '' stockbrokers began trading under a banyan tree opposite the ow

all of *ombay from the mi16@>s, each investing a #then! princely amount of -upee 1. hisbanyan tree still stands in the orniman +ircle $ark, 9umbai. In 16B>, the exchange

flourished with B> brokers. In fact the FShareF in India began with the merican +ivil :ar

broke and the cotton supply from the S to )urope stopped. 3urther the brokers increased to

'@>. he informal group of stockbrokers organi4ed themselves as the he /ative Share and

Stockbrokers ssociation which, in 16J@, was formally organi4ed as the *ombay Stock

)xchange #*S)!.

*S) was shifted to an old building near the own all. In 15'6, the plot of land on which the

*S) building now stands #at the intersection of &alal Street, *ombay Samachar 9arg and

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ammam Street in downtown 9umbai! was ac(uired, and a building was constructed and

occupied in 15>.$remchand -oychand was a leading stockbroker of that time, and he

assisted in setting out traditions, conventions, and procedures for the trading of stocks at

*ombay Stock )xchange and they are still being followed.

Several stock broking firms in 9umbai were family run enterprises, and were named after the

heads of the family. he following is the list of some of the initial members of the exchange,

and who are still running their respective business"

&.S. $rabhudas 7 +ompany #now known as &S$, and a Coint venture partner

with 9errill Aynch!

Hamnadas 9orarCee #now known as H9!

+hampaklal &evidas #now called +ifco 3inance!

*riCmohan Aaxminarayan

In 15@B, the 2overnment of India recogni4ed the *ombay Stock )xchange as the first stock

exchange in the country under the Securities +ontracts #-egulation! ct.he most decisive

period in the history of the *S) took place after 155'. In the aftermath of a maCor scandal

with market manipulation involving a *S) member named arshad 9ehta, *S) responded

to calls for reform with intransigence. he footdragging by the *S) helped radicalise the

position of the government, which encouraged the creation of the /ational Stock )xchange

#/S)!, which created an electronic marketplace. /S) started trading on = /ovember 155=.

:ithin less than a year, /S) turnover exceeded the *S). *S) rapidly automated, but it never

caught up with /S) spot market turnover. he second strategic failure at *S) came in the

following two years. /S) embarked on the launch of e(uity derivatives trading. *S)

responded by political effort, with a friendly S)*I chairman #&. -. 9ehta! aimed at blocking

e(uity derivatives trading. he *S) and &. -. 9ehta succeeded in delaying the onset of

e(uity derivatives trading by roughly five years. *ut this trading, and the accompanying shift

of the spot market to rolling settlement, did come along in '>>>and '>>1 helped by another

maCor scandal at *S) involving then $resident 9r. nand -athi. /S) scored nearly

1>>Omarket share in the runaway success of e(uity derivatives trading, thus consigning *S)

into clearly second place. oday, /S) has roughly BBO of e(uity spot turnover and roughly

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1>>O of e(uity derivatives turnover. Stock )xchange provides a trading platform, where

buyers and sellers can meet to transact in securities.

S)o$e o2 Indi& sto)' %&r'et

imes are really (uite exciting; an ever increasing plethora of events followed the global

financial crisis. :ith globali4ation and innovation in the financial markets at its peak D it is

very essential to study the market risks and re(uirements. %ver the years, the India stock

market has undergone maCor changes to remain at par with the 2lobal peers. :ith global

trade and finance getting more dynamic day by day, the India stock market is not far behind

to experience these developments. his has helped the financial structure of India get more

innovative

/A9OR PAYERS

Competitors of sharekhan

HD*C 4&n'

&3+ */G is one of the leading &epository $articipant #&$! in the country with over 6

Aac deDmat accounts.

&3+ *ank &eDmat services offers you a secure and convenient way to keep track of your

securities and investments, over a period of time, without the hassle of handling physical

documents that get mutilated or lost in transit.&3+ */G is &epository participant both with /ational Securities &epositories Aimited

#/S&A! and +entral &epository Services Aimited #+&SA!.

I)i)i Dire)t

1=


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I+I+I &irect #or I+I+I&irect.com! is stock trading company of I+I+I *ank. long with stock

trading and trading in derivatives in *S) and /S), it also provides facility to invest in I$%s,

9utual 3unds and *onds.rading is available in *S) and /S).

P&is&.)o%

@paisa is the trade name of India Infoline Securities $rivate Aimited #@paisa!, member of

/ational Stock )xchange and he Stock )xchange, 9umbai. @paisa is a wholly owned

subsidiary of India Infoline Atd, Indias leading and most popular finance and investment

portal. @paisa has emerged as one of leading players in eDbroking space in India.

Indi& 4us

Indiabulls is IndiaFs leading retail financial services company with JJ locations spread across

B= cities. Indiabulls is lead by a highly regarded management team that has invested crores of

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rupees into a world class Infrastructure that provides realDtime service 7 '=J access to all

information and products. he Indi&bus Pro2ession& Net"or' offers realDtime prices,

detailed data and news, intelligent analytics, and electronic trading capabilities, right at your

fingerDtips. his powerful technology is complemented by our knowledgeable and customer

focused -elationship 9anagers. Indiabulls offers a full range of financial services and

products ranging from )(uities, &erivatives, &emat services and Insurance to enhance wealth

1.; About the or,&ni0&tion

SHARE6HAN

1B


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CO/PANY PRO*IE:

Sharekhan is one of the top retail brokerage houses in India with a strong online trading

platform. he company provides e(uity based products #research, e(uities, derivatives,

depository, margin funding, etc.!. It has one of the largest networks in the country with 1'>>P

share shops in =>> cities and Indias premier online trading portal www.sharekhan.com. :ith

their research expertise, customer commitment and superior technology, they provide

investors with endDtoDend solutions in investments. hey provide trade execution services

through multiple channels D an Internet platform, telephone and retail outlets.

HISTORY

Sharekhan was established by 9orakhia family in 1555D'>>> and 9orakhia family, continues

to remain the largest shareholder. It is the retail broking arm of the 9umbaiDbased SS6IB $hoenix ouse'nd floor

senapati *apatmarg Aower $arel

9umbaiD=>>>1

ONINE DIISION 6,februart,'>>>

!E4SITE www.sharekhan.com
http://www.sharekhan.com/http://www.sharekhan.com/


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which is established in 15> is the parent company of Sharekhan ltd. :ith a legacy of more

than 6> years in the stock markets, the SSGI group ventured into institutional broking and

corporate finance over a decade ago. $resently SSGI is one of the leading players in

institutional broking and corporate finance activities. Sharekhan offers its customers a wide

range of e(uity related services including trade execution on *S), /S), and &erivatives.

&epository services, online trading, Investment advice, +ommodities, etc.

Sharekhan Atd. is a brokerage firm which is established on 6th 3ebruary '>>> and now it is

having all the rights of SSGI. he company was awarded the '>>@ 9ost $referred Stock

*roking *rand by waa4 +onsumer


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the most significant players raising e(uity in the Indian market. SSGI, a veteran e(uities

solutions company has over 6 decades of experience in the Indian stock markets.

?Sharekhan has always believed in collaborating with likeDminded +orporate into forming

strategic associations for mutual benefit relationships? says Haideeprora, &irector D

Sharekhan Aimited.

Sharekhan is also about focus. Sharekhan does not claim expertise in too many things.

SharekhanFs expertise lies in stocks and thatFs what he talks about with authority and these

beliefs are reflected in everything Sharekhan does for usQ Sharekhan is a part of the SSGI

group, an Indian financial services power house, with strong presence in -etail e(uities

Institutional e(uities Investment banking.

.ISION:

o be the best retail brokering *rand in the retail business of stock market.

+orporate +lientele.

+ontinuous upDgradation with changing technology. o provide the best customer service and product innovation tuned to diverse

/eeds of individual.

/ISSION:

o educate and empower the individual investor to make better investment decisions

through (uality advice and superior service.

OBJECTIVE:

o increase interest about online share trading

o open &eDmat account.

o know various reasons for market fluctuations

o learn to manage time.

o gain practical knowledge of the market.

o have a practical experience of working in a reputed organi4ation.

DIRECTORS:

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R.T!R"# S$!$ CE%& S$!RE '$!#

R S$!#'!R (!)*!+!& ,)RECT%R -%ER!T)%#/ %0 T$E

C%!#+

R. 1!),EE !R%R!2,)RECT%R -R%C,"CT 3 TEC$#%*%4+/ %0

T$E C%!#+

OTHER DIRECTORS:

9r. *aldev A *oolani

9rs. 9eena S Hain

9r. *hupendra Shah 9r. asmukhSheth

ACHIEE/ENTS O* SHARE6HAN:

wired company along with -eliance, ll, Infosys, etc. by 8*usiness oday, Hanuary

'>>= edition.

It was awarded 8op &omestic *rokerage ouse four times by )uro and sia

money.

'>


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It was :inner of R*est 3inancial :ebsite award.

Indias most preferred brokers within @ years. R+/*+waa4 customers ward '>>@

OR+ANISATIONA STRUCTURE:

/r. T&run Sh&hE +hief )xecutive %fficer #+)%! of the company.

/r.Sh&n'&r &i&y&E &irector #%perations! of the company.

/r. 9&idee$Aror&E &irector #$roducts 7 echnology! of the company.

P&thi' +&ndotr& -ead of -esearch. Ni'hi or& -


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CASSIC ACCOUNT:

In classic account it is very simple to trading, there customer has first to open a demat

account with the sharekhan and after opening an account can login to the sharekhan.com and

in the classic account whatever company information the clients want, he has to type the

company name or code and he will get all the necessary information about that company and

he can buy and sell the that company stock or share but in the classic account the client can

access only one script at a time.

*EATURE O* CASSIC ACCOUNT:

+lassic account enables you mti buy and sell shares through over website you get the feature

like"D

%nline trading account for investing in )(uity and &erivatives via

www.sharekhan.com Integration of %nDline trading, Saving *ank and &emat ccount.

Instant cash transfer facility against purchase 7 sale of shares.

Instant order and trade confirmation by )Dmail. Streaming Tuotes #+ash 7 &erivatives!.

$ersonali4ed market watch.

Single screen interface for +ash and derivatives and more.

$rovision to enter price trigger and view the same online in market watch.

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SPEEDTRADE ? TRADE TI+ER"

S$))&-&) is an internetDbased software application,that enables you to buy and sell in

an instant. It is ideal for active traders and Cobbers who transact fre(uently during days

session to capitali4e on intraDday price movement.

*e&tures:

Single platform for multiple exchange *S),/S),9+0,/+&)0,9A

3/&,I$%. 9ultiple market watch available on single screen.

9ultiple charts with tick by tick intraday and end of day charting powered with

various studies.

2raph studies include average,bandDbollinger, kwnow sure thing 9+*,-SI etc. pply studies such as vertical,hori4ontal, trend,restracement and free lines.

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ser can save his own defined screen as well as graph templaye, thatb as saving the

layout for future use defined alerty setting on an input stock price trigger. ools available to market such as tick (uery, tickert market summary, action

watch,option premium callfuture, spam calculator. Short cut key for fast access to order place meants and reports.

%nline fund transfer activated with 1' banks.

DIA-N-TRADE:

'=


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long with enabling access for your trade online, the +ASSI+ and S$))&-&)

++%/ also gives you our &ialDnDrade services. :ith this service, all you have to do is

dial our dedicated phone lines 1D6>>D''DJ@>>, 5J>DJ@>> and Separate number for

Speedtrade +lients i.e. 16>>D''DJ6>>.

*EATURES O* DAI-N-TRADE"

wo dedicated numbers for placing your orders with your cellphone or land line

number.

Simple and secure interaction voice response based system for authentication. /o waiting time enter your $I/ to be transferred to our telebrokers.

fter hours order placement facing between 5">> pm to 5"> am.

E>UITY:

In finance, e(uity trading is the buying and selling of company stock shares. Shares in large

publicly traded companiesare bought and sold through one of the maCor stock exchanges,

such as the/ew Uork Stock )xchange, Aondon Stock )xchange or*ombay Stock )xchange,

which serve as managed auctionsfor stock trades. Stock shares in smaller public companies

are bought and sold in overDtheDcounter#%+! markets.

)(uity trading can be performed by the owner of the shares, or by an agentauthori4ed to buy

and sell on behalf of the shareFs owner. $roprietary trading is buying and selling for the

traderFs own profit or loss. In this case, the principal is the owner of the shares. gency

trading is buying and selling by an agent, usually a stockbroker, on behalf of a client. gents

are paid acommissionfor performing the trade.9aCor stock exchanges have market makers

who help limit price variation #volatility! by buying and selling a particular companyFs shares

on their own behalf and also on behalf of other clients.

%ver the past 1@ years with the popularity of the internet and discount brokerage firms, it has

become increasingly luring for the average investor to partake in their own financial planning

and direction of their future. lthough trading can be incredibly stressful and dangerous

financially, many people have made it their profession in place of a 5 to @ Cob. Individuals

that pursue this nonDmainstream career usually will have a knack for technical analysis,

'@
http://en.wikipedia.org/wiki/Financehttp://en.wikipedia.org/wiki/Shareshttp://en.wikipedia.org/wiki/Public_companyhttp://en.wikipedia.org/wiki/Stock_exchangehttp://en.wikipedia.org/wiki/New_York_Stock_Exchangehttp://en.wikipedia.org/wiki/London_Stock_Exchangehttp://en.wikipedia.org/wiki/Bombay_Stock_Exchangehttp://en.wikipedia.org/wiki/Auctionhttp://en.wikipedia.org/wiki/Over-the-counter_(finance)http://en.wikipedia.org/wiki/Agent_(law)http://en.wikipedia.org/wiki/Proprietary_tradinghttp://en.wikipedia.org/wiki/Principal_(commercial_law)http://en.wikipedia.org/wiki/Stockbrokerhttp://en.wikipedia.org/wiki/Commission_(remuneration)http://en.wikipedia.org/wiki/Market_makerhttp://en.wikipedia.org/wiki/Volatility_(finance)http://en.wikipedia.org/wiki/Brokerage_firmhttp://en.wikipedia.org/wiki/Financehttp://en.wikipedia.org/wiki/Shareshttp://en.wikipedia.org/wiki/Public_companyhttp://en.wikipedia.org/wiki/Stock_exchangehttp://en.wikipedia.org/wiki/New_York_Stock_Exchangehttp://en.wikipedia.org/wiki/London_Stock_Exchangehttp://en.wikipedia.org/wiki/Bombay_Stock_Exchangehttp://en.wikipedia.org/wiki/Auctionhttp://en.wikipedia.org/wiki/Over-the-counter_(finance)http://en.wikipedia.org/wiki/Agent_(law)http://en.wikipedia.org/wiki/Proprietary_tradinghttp://en.wikipedia.org/wiki/Principal_(commercial_law)http://en.wikipedia.org/wiki/Stockbrokerhttp://en.wikipedia.org/wiki/Commission_(remuneration)http://en.wikipedia.org/wiki/Market_makerhttp://en.wikipedia.org/wiki/Volatility_(finance)http://en.wikipedia.org/wiki/Brokerage_firm


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money management, tape reading and traderFs psychology as well as enCoy working in a fast

paced competitive environment.

/UTUA *UND:

mutual fund is a very professionally managed type of collective investment scheme that

pools money from many investors and invests it stock,bond,,short term money market

instruments and other securities.9utul funds have a fund manager who invests money on

behalf of the investor by buyingselling stock,bonds, etc.+urrently the worldwide value of all

mutul funds totals more than KS'B trillion.he nited States lead with the number of mutul

fund schemes.here are more than 6>> mutul fund schemes in the .S.. comparatively,

India has around 1>>> mutul fund schemes,but this number has grown exponentially in the

last few year.he total assets under management in India of all mutul fund put together

touched a peak of -s.@,==,@@.here are various investment avenues available to an investor

such as real estate, bank deposits, post office deposits, share, debenture, bonds etc. mutul

fund is one more type of investment avenue available to an investors. here are many reasons

why investors prefer mutulfunds.*uying shares directly from the market is one way of

investing but this re(uires spending time to find out the market to find out the performance of

the company whose share is being purchased, understanding the future business prospects of

the company, finding out the track record of the promoters and the dividend,

bonus,etc.Investor therefore prefer the mutul fund route.

INITIA PU4IC O**ERIN+:

n initial public offering #I$%! or stock market launch is a type of public offering where

shares of stockin a company are sold to the general public, on a securities exchange, for the

first time. hrough this process, aprivate companytransforms into apublic company. Initial

public offerings are used by companies to raise expansion capital, to possibly moneti4e the

investments of early private investors, and to become publicly traded enterprises. company

selling shares is never re(uired to repay the capital to its public investors. fter the I$%,

'B
http://en.wikipedia.org/wiki/Public_offeringhttp://en.wikipedia.org/wiki/Stockhttp://en.wikipedia.org/wiki/Securities_exchangehttp://en.wikipedia.org/wiki/Private_companyhttp://en.wikipedia.org/wiki/Public_companyhttp://en.wikipedia.org/wiki/Monetizehttp://en.wikipedia.org/wiki/Public_offeringhttp://en.wikipedia.org/wiki/Stockhttp://en.wikipedia.org/wiki/Securities_exchangehttp://en.wikipedia.org/wiki/Private_companyhttp://en.wikipedia.org/wiki/Public_companyhttp://en.wikipedia.org/wiki/Monetize


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when shares trade freely in the open market, money passes between public investors.

lthough an I$% offers many advantages, there are also significant disadvantages. +hief

among these are the costs associated with the process, and the re(uirement to disclose certain

information that could prove helpful to competitors, or create difficulties with vendors.

&etails of the proposed offering are disclosed to potential purchasers in the form of a lengthy

document known as a prospectus. 9ost companies undertaking an I$% do so with the

assistance of an investment banking firm acting in the capacity of an underwriter.nderwriters provide a valuable service, which includes help with correctly assessing the

value of shares #share price!, and establishing a public market for shares #initial sale!.

lternative methods such as the dutch auctionhave also been explored. In terms of si4e and

public participation, the most notable example of this method is the 2oogleI$%.+hina has

recently emerged as a maCor I$% market, with several of the largest I$%s taking place in that

country.

In '>1, documentsunder sealin an ongoing lawsuit were obtained by /ew Uork imes :all

Street *usiness columnist Hoe /ocera. he documents related to the I$% of oys.com, during

the dotDcom bubble, and alleged that kickbackswere demanded from institutional investors

who made large profits flippingdeliberately undervalued I$%s underwritten by investment

banker2oldman Sachs. -euters:all Street correspondent 3elix Salmonsuggested that both

the company going public and their initial shareholders would be defrauded by such a

practice. he lawsuit is ongoing, and the allegations remain unproven.

CO//ODITY:

In economics, a commodity is a marketable item produced to satisfy wants or needs.

)conomic commodities comprise goodsandservices. he more specific meaning of the term

commodity is applied to goodsonly. It is used to describe a class of goodsfor which there is

demand, but which is supplied without (ualitative differentiation across a market.

commodity has full or partial fungibility; that is, the market treats its instances as e(uivalent

or nearly so with no regard to who produced them. ?3rom the taste of wheat it is not possible

'J
http://en.wikipedia.org/wiki/Prospectus_(finance)http://en.wikipedia.org/wiki/Investment_bankinghttp://en.wikipedia.org/wiki/Securities_underwritinghttp://en.wikipedia.org/wiki/Dutch_auctionhttp://en.wikipedia.org/wiki/Googlehttp://en.wikipedia.org/wiki/Under_sealhttp://en.wikipedia.org/wiki/Joe_Nocerahttp://en.wikipedia.org/wiki/EToys.comhttp://en.wikipedia.org/wiki/Kickback_(bribery)http://en.wikipedia.org/wiki/Flippinghttp://en.wikipedia.org/wiki/Investment_bankerhttp://en.wikipedia.org/wiki/Investment_bankerhttp://en.wikipedia.org/wiki/Goldman_Sachshttp://en.wikipedia.org/wiki/Felix_Salmonhttp://en.wikipedia.org/wiki/Economicshttp://en.wikipedia.org/wiki/Wantshttp://en.wikipedia.org/wiki/Needshttp://en.wikipedia.org/wiki/Good_(economics)http://en.wikipedia.org/wiki/Service_(economics)http://en.wikipedia.org/wiki/Good_(economics)http://en.wikipedia.org/wiki/Good_(economics)http://en.wikipedia.org/wiki/Qualitative_datahttp://en.wikipedia.org/wiki/Product_differentiationhttp://en.wikipedia.org/wiki/Markethttp://en.wikipedia.org/wiki/Fungibilityhttp://en.wikipedia.org/wiki/Prospectus_(finance)http://en.wikipedia.org/wiki/Investment_bankinghttp://en.wikipedia.org/wiki/Securities_underwritinghttp://en.wikipedia.org/wiki/Dutch_auctionhttp://en.wikipedia.org/wiki/Googlehttp://en.wikipedia.org/wiki/Under_sealhttp://en.wikipedia.org/wiki/Joe_Nocerahttp://en.wikipedia.org/wiki/EToys.comhttp://en.wikipedia.org/wiki/Kickback_(bribery)http://en.wikipedia.org/wiki/Flippinghttp://en.wikipedia.org/wiki/Investment_bankerhttp://en.wikipedia.org/wiki/Investment_bankerhttp://en.wikipedia.org/wiki/Goldman_Sachshttp://en.wikipedia.org/wiki/Felix_Salmonhttp://en.wikipedia.org/wiki/Economicshttp://en.wikipedia.org/wiki/Wantshttp://en.wikipedia.org/wiki/Needshttp://en.wikipedia.org/wiki/Good_(economics)http://en.wikipedia.org/wiki/Service_(economics)http://en.wikipedia.org/wiki/Good_(economics)http://en.wikipedia.org/wiki/Good_(economics)http://en.wikipedia.org/wiki/Qualitative_datahttp://en.wikipedia.org/wiki/Product_differentiationhttp://en.wikipedia.org/wiki/Markethttp://en.wikipedia.org/wiki/Fungibility


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to tell who produced it, a -ussian serf, a 3rench peasant or an )nglish capitalist.? $etroleum

and copper are other examples of such commodities, their supply and demand being a part of

one universal market. Items such as stereo systems, on the other hand, have many aspects of

product differentiation, such as the brand, the user interface and the perceived (uality. he

demand for one type of stereo may be much larger than demand for another.

In contrast, one of the characteristics of a commodity good is that its price is determined as a

function of its market as a whole. :ellDestablished physical commodities have actively traded

spot and derivativemarkets. 2enerally, these are basic resources and agricultural products

such as iron ore, crude oil, coal, salt, sugar, tea, coffee beans, soybeans, aluminum, copper,

rice, wheat, gold, silver,palladium, andplatinum. Soft commodities are goods that are grown,

while hard commodities are the ones that are extracted through mining. here is another

important class of energy commodities which includes electricity, gas, coal and oil.

)lectricity has the particular characteristic that it is usually uneconomical to store; hence,

electricity must be consumed as soon as it is produced. +ommodification #also called

commoditi4ation! occurs as a goods or services market loses differentiation across its supply

base, often by the diffusion of the intellectual capitalnecessary to ac(uire or produce it

efficiently. s such, goods that formerly carried premium margins for market participants

have become commodities, such as generic pharmaceuticals and &-9 chips. nother

example suggested by the/ew Uork imesLBMis multivitamin supplements; a @> mg tablet of

calcium is of e(ual value to a consumer no matter what company produces and markets it,

and as such, multivitamins are now sold in bulk and are available at any supermarket with

little differentiation among brands.

here is a spectrum of commodification, rather than a binary distinction of ?commodity

versus differentiable product?. 3ew products have complete undifferentiability and hence

fungibility; even electricity can be differentiated in the market based on its method of

generation #e.g., fossil fuel, wind, solar!. 9any productsF degree of commodification depends

on the buyerFs mentality and means. 3or example, milk, eggs, and notebook paper are

considered by many customers as completely undifferentiable and fungible; lowest price is

'6
http://en.wikipedia.org/wiki/Petroleumhttp://en.wikipedia.org/wiki/Copperhttp://en.wikipedia.org/wiki/Brandhttp://en.wikipedia.org/wiki/Spot_markethttp://en.wikipedia.org/wiki/Derivative_(finance)http://en.wikipedia.org/wiki/Agriculturehttp://en.wikipedia.org/wiki/Iron_orehttp://en.wikipedia.org/wiki/Crude_oilhttp://en.wikipedia.org/wiki/Coalhttp://en.wikipedia.org/wiki/Salthttp://en.wikipedia.org/wiki/Sugarhttp://en.wikipedia.org/wiki/Teahttp://en.wikipedia.org/wiki/Coffee_beanhttp://en.wikipedia.org/wiki/Soybeanhttp://en.wikipedia.org/wiki/Aluminumhttp://en.wikipedia.org/wiki/Copperhttp://en.wikipedia.org/wiki/Ricehttp://en.wikipedia.org/wiki/Wheathttp://en.wikipedia.org/wiki/Goldhttp://en.wikipedia.org/wiki/Silverhttp://en.wikipedia.org/wiki/Palladiumhttp://en.wikipedia.org/wiki/Platinumhttp://en.wikipedia.org/wiki/Mininghttp://en.wikipedia.org/wiki/Coalhttp://en.wikipedia.org/wiki/Commodificationhttp://en.wikipedia.org/wiki/Commoditizationhttp://en.wikipedia.org/wiki/Intellectual_capitalhttp://en.wikipedia.org/wiki/Profit_marginhttp://en.wikipedia.org/wiki/Markethttp://en.wiktionary.org/wiki/participationhttp://en.wikipedia.org/wiki/Generic_drughttp://en.wikipedia.org/wiki/Dynamic_random-access_memoryhttp://en.wikipedia.org/wiki/New_York_Timeshttp://en.wikipedia.org/wiki/New_York_Timeshttp://en.wikipedia.org/wiki/Commodity#cite_note-Times-6http://en.wikipedia.org/wiki/Petroleumhttp://en.wikipedia.org/wiki/Copperhttp://en.wikipedia.org/wiki/Brandhttp://en.wikipedia.org/wiki/Spot_markethttp://en.wikipedia.org/wiki/Derivative_(finance)http://en.wikipedia.org/wiki/Agriculturehttp://en.wikipedia.org/wiki/Iron_orehttp://en.wikipedia.org/wiki/Crude_oilhttp://en.wikipedia.org/wiki/Coalhttp://en.wikipedia.org/wiki/Salthttp://en.wikipedia.org/wiki/Sugarhttp://en.wikipedia.org/wiki/Teahttp://en.wikipedia.org/wiki/Coffee_beanhttp://en.wikipedia.org/wiki/Soybeanhttp://en.wikipedia.org/wiki/Aluminumhttp://en.wikipedia.org/wiki/Copperhttp://en.wikipedia.org/wiki/Ricehttp://en.wikipedia.org/wiki/Wheathttp://en.wikipedia.org/wiki/Goldhttp://en.wikipedia.org/wiki/Silverhttp://en.wikipedia.org/wiki/Palladiumhttp://en.wikipedia.org/wiki/Platinumhttp://en.wikipedia.org/wiki/Mininghttp://en.wikipedia.org/wiki/Coalhttp://en.wikipedia.org/wiki/Commodificationhttp://en.wikipedia.org/wiki/Commoditizationhttp://en.wikipedia.org/wiki/Intellectual_capitalhttp://en.wikipedia.org/wiki/Profit_marginhttp://en.wikipedia.org/wiki/Markethttp://en.wiktionary.org/wiki/participationhttp://en.wikipedia.org/wiki/Generic_drughttp://en.wikipedia.org/wiki/Dynamic_random-access_memoryhttp://en.wikipedia.org/wiki/New_York_Timeshttp://en.wikipedia.org/wiki/Commodity#cite_note-Times-6


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the only deciding factor in the purchasing choice. %ther customers take into consideration

other factors besides price, such as environmental sustainability and animal welfare. o these

customers, distinctions such as ?organic versus not? or ?cage freeversus not? count toward

differentiating brands of milk or eggs, and percentage of recycled content or forestry council

certification count toward differentiating brands of notebook paper.

CURRENCY:

he foreign exchange market #forex, 30, or currency market! is a global decentrali4ed

market for the trading of currencies. he main participants in this market are the larger

international banks. 3inancial centers around the world function as anchors of trading

between a wide range of different types of buyers and sellers around the clock, with the

exception of weekends. )*Sand -eutersF dealing >>>are two main interbank 30 trading

platforms. he foreign exchange market determines the relative values of different currencies.

he foreign exchange market works through financial institutions, and it operates on severallevels. *ehind the scenes banks turn to a smaller number of financial firms known as

Rdealers, who are actively involved in large (uantities of foreign exchange trading. 9ost

foreign exchange dealers are banks, so this behindDtheDscenes market is sometimes called the

Rinterbank market,although a few insurance companies and other kinds of financial firms are

involved. rades between foreign exchange dealers can be very large, involving hundreds of

millions of dollars.

he foreign exchange market assists international trade and investment by enabling currency

conversion. 3or example, it permits a business in the nited Statesto import goods from the

)uropean nionmember states, especially )uro4onemembers, and pay )uros, even though

its income is in nited States dollars. It also supports direct speculation in the value of

currencies, and the carry trade, speculation based on the interest rate differential between two

currencies.

In a typical foreign exchange transaction, a party purchases some (uantity of one currencyby paying some (uantity of another currency. he modern foreign exchange market began

'5
http://en.wikipedia.org/wiki/Organic_foodhttp://en.wikipedia.org/wiki/Free-range_eggshttp://en.wikipedia.org/wiki/Currencyhttp://en.wikipedia.org/wiki/Electronic_Broking_Serviceshttp://en.wikipedia.org/wiki/Reuters_3000_Xtrahttp://en.wikipedia.org/wiki/Currency_conversionhttp://en.wikipedia.org/wiki/Currency_conversionhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/European_Unionhttp://en.wikipedia.org/wiki/Eurozonehttp://en.wikipedia.org/wiki/Euroshttp://en.wikipedia.org/wiki/United_States_dollarhttp://en.wikipedia.org/wiki/United_States_dollarhttp://en.wikipedia.org/wiki/Carry_tradehttp://en.wikipedia.org/wiki/Organic_foodhttp://en.wikipedia.org/wiki/Free-range_eggshttp://en.wikipedia.org/wiki/Currencyhttp://en.wikipedia.org/wiki/Electronic_Broking_Serviceshttp://en.wikipedia.org/wiki/Reuters_3000_Xtrahttp://en.wikipedia.org/wiki/Currency_conversionhttp://en.wikipedia.org/wiki/Currency_conversionhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/European_Unionhttp://en.wikipedia.org/wiki/Eurozonehttp://en.wikipedia.org/wiki/Euroshttp://en.wikipedia.org/wiki/United_States_dollarhttp://en.wikipedia.org/wiki/Carry_trade


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forming during the 15J>s after three decades of government restrictions on foreign exchange

transactions #the *retton :oods system of monetary management established the rules for

commercial and financial relations among the worldFs maCor industrial states after :orld :ar

II!, when countries gradually switched to floating exchange ratesfrom the previous exchange

rate regime,which remained fixedas per the *retton :oods system.

he foreign exchange market is uni(ue because of the following characteristics"

its huge trading volume representing the largest asset class in the world leading to

high li(uidity;

its geographical dispersion;

its continuous operation" '= hours a day except weekends, i.e., trading from '>"1@

29on Sunday until ''">> 29 3riday;

the variety of factors that affect exchange rates;

the low margins of relative profit compared with other markets of fixed income; and

the use ofleverage to enhance profit and loss margins and with respect to account

si4e.

s such, it has been referred to as the market closest to the ideal of perfect competition,notwithstanding currency intervention by central banks. ccording to the *ank for

International Settlements,LM as of pril '>1>, average daily turnover in global foreign

exchange markets is estimated at K.56 trillion, a growth of approximately '>O over the

K.'1 trillion daily volume as of pril '>>J. Some firms speciali4ing on foreign exchange

market had put the average daily turnover in excess of SK= trillion. L=M

he K.56 trillion breakDdown is as follows"

>
http://en.wikipedia.org/wiki/Floating_exchange_ratehttp://en.wikipedia.org/wiki/Exchange_rate_regimehttp://en.wikipedia.org/wiki/Exchange_rate_regimehttp://en.wikipedia.org/wiki/Exchange_rate_regimehttp://en.wikipedia.org/wiki/Fixed_exchange_ratehttp://en.wikipedia.org/wiki/Bretton_Woods_systemhttp://en.wikipedia.org/wiki/Liquidityhttp://en.wikipedia.org/wiki/GMThttp://en.wikipedia.org/wiki/Exchange_ratehttp://en.wikipedia.org/wiki/Leverage_(finance)http://en.wikipedia.org/wiki/Leverage_(finance)http://en.wikipedia.org/wiki/Leverage_(finance)http://en.wikipedia.org/wiki/Perfect_competitionhttp://en.wikipedia.org/wiki/Perfect_competitionhttp://en.wikipedia.org/wiki/Currency_interventionhttp://en.wikipedia.org/wiki/Currency_interventionhttp://en.wikipedia.org/wiki/Central_bankhttp://en.wikipedia.org/wiki/Bank_for_International_Settlementshttp://en.wikipedia.org/wiki/Bank_for_International_Settlementshttp://en.wikipedia.org/wiki/Bank_for_International_Settlementshttp://en.wikipedia.org/wiki/Foreign_exchange_market#cite_note-BIS-3http://en.wikipedia.org/wiki/Foreign_exchange_market#cite_note-BIS-3http://en.wikipedia.org/wiki/Revenuehttp://en.wikipedia.org/wiki/Foreign_exchange_market#cite_note-4http://en.wikipedia.org/wiki/Floating_exchange_ratehttp://en.wikipedia.org/wiki/Exchange_rate_regimehttp://en.wikipedia.org/wiki/Exchange_rate_regimehttp://en.wikipedia.org/wiki/Fixed_exchange_ratehttp://en.wikipedia.org/wiki/Bretton_Woods_systemhttp://en.wikipedia.org/wiki/Liquidityhttp://en.wikipedia.org/wiki/GMThttp://en.wikipedia.org/wiki/Exchange_ratehttp://en.wikipedia.org/wiki/Leverage_(finance)http://en.wikipedia.org/wiki/Perfect_competitionhttp://en.wikipedia.org/wiki/Currency_interventionhttp://en.wikipedia.org/wiki/Central_bankhttp://en.wikipedia.org/wiki/Bank_for_International_Settlementshttp://en.wikipedia.org/wiki/Bank_for_International_Settlementshttp://en.wikipedia.org/wiki/Foreign_exchange_market#cite_note-BIS-3http://en.wikipedia.org/wiki/Revenuehttp://en.wikipedia.org/wiki/Foreign_exchange_market#cite_note-4


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K1.=5> trillion in spottransactions

K=J@ billion in outright forwards

K1.JB@ trillion in foreign exchange swaps

K= billion currency swaps

K'>J billion in optionsand other products

TYPES O* CURRENCY ARE TRADIN+ IN INDIA"

1. &%AA%-

'. )-%

. $%/&

=. U)/

*UTURE PANS O* SHARE6HAN:

',>>,>>> plus retail customers being serviced through centrali4ed call

+enters web solutions. *ranches Semi branches servicing affluent aggressive traders through

high skill financial advisor. '@> independent investment managers franchisee servicing @>,>>> highly

valued clients. /ew initiatives $ortfolio management Services and commodities trading.

9edia reports indicate that 3uture 2rouphas shelved plans to sell stakes in some of

its retail formats.

he group had earlier planned to sell stakes to either strategic or financial investors in

retail formats including electronic chain )DVone, furniture business omeown,

logistics firm 3uture Supply +hain, convenience store format G*Fs 3air $rice and

office supplies retail Staples in an effort to reduce the companyFs highdebtburden.

1
http://en.wikipedia.org/wiki/Foreign_exchange_spothttp://en.wikipedia.org/wiki/Forward_contracthttp://en.wikipedia.org/wiki/Foreign_exchange_swaphttp://en.wikipedia.org/wiki/Currency_swaphttp://en.wikipedia.org/wiki/Foreign_exchange_optionhttp://www.sharekhan.com/stock-market/news/Future-Group-drops-plan-to-sell-stake-in/FBBB6393-74C0-4145-868C-01A342C8750E/MustKnowNews/161/News.htmhttp://en.wikipedia.org/wiki/Foreign_exchange_spothttp://en.wikipedia.org/wiki/Forward_contracthttp://en.wikipedia.org/wiki/Foreign_exchange_swaphttp://en.wikipedia.org/wiki/Currency_swaphttp://en.wikipedia.org/wiki/Foreign_exchange_optionhttp://www.sharekhan.com/stock-market/news/Future-Group-drops-plan-to-sell-stake-in/FBBB6393-74C0-4145-868C-01A342C8750E/MustKnowNews/161/News.htm


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he company has however managed to reduce its high debt by selling stakes in some

of its businesses.

CHAPTER @ ;

ITERATURE REIE!

'


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calling each customer in order to take feedback and any suggestions for improvement of the

services or any other kind of Sharekhan.

;( Cient isits+lient


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visitor to stock market and second about their personal detail. In personal detail he

should have to give their name, phone no and address, each part is mandatory to fill.

. Adertise%ent throu,h "ebsite"D his advertisement method is used by sharekhan to

get popular among the netusers. s we know Internet is most important factor of the

human being life in todays era of advancement. here is a form type popDup occur on

screen of the user that should be filled by user. hat information automatically

distributed to their nearest sharekhan outlets. nd a contact made by sales executives

to that client for their help.

. P&%$hets distribution"D $amphlets that having the key features of the broking

company and address of nearest outlet to contact for help. hese are distributed by the

trainees, executives or other hired persons, mostly to those places where huge rush

passed daily. hese also supports to the outlets to collect the raw data for their further

use to making them their customer and providing services. $amphlets consist key

features and new achievements of the company that aware to the customer for their

special services.

. Tee-)&in," his is used to provide information regarding share market to the

customers 7 also to convince them to trade in share market , opening a demat accout

with sharekhan 7 to satisfy the customers with the aim of profit maximi4ation.

Sharekhan motive is to give satisfaction to their customer in the better way.

5. Adertisin, Pro%otion& A)tiities &do$ted by Sh&re'h&n td.

Ty$es o2 Adertisin,

Print Adertisin,:/ewspapers, 9aga4ines, *rochures, and 3liers.

4ro&d)&st &dertisin,:elevision, -adio and the Internet

Outdoor Adertisin,:*illboards, Giosks, radeshows and )vents

@


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he data collected from secondary data sources from Sharekhans database such as

Aead 9anagement System does not cover all the customers details and responses and

consider a small sample si4e, thus the analysis may not be accurate. $rimary data collection through Tuestionnaires accounts for a small sample si4e of

the no. of investors, thus the analysis may not be accurate.

J


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CHAPTER-

RESEARECH/ETHODOO+Y

6


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RESEARCH /ETHODOO+Y

-esearch 9ethodology is a way to systematically solve the research problem. he -esearch

9ethodology includes the various methods and techni(ues for conducting a -esearch.

R9arketing -esearch is the systematic design, collection, analysis and reporting of data and

finding relevant solution to a specific marketing situation or problem. &. Slesinger and 9.

Stephenson in the encyclopedia of Social Sciences define -esearch as Rthe manipulation of

things, concepts or symbols for the purpose of generali4ing to extend, correct or verify

knowledge, whether that knowledge aids in construction of theory or in the practice of an

art.

-esearch is, thus, an original contribution to the existing stock of knowledge making for its

advancement. he purpose of -esearch is to discover answers to the Tuestions through the

application of scientific procedures. %ur proCect has a specified framework for collecting data

in an effective manner. Such framework is called R-esearch &esign. he research process

followed by us consists of following steps"

#1! I have divided the entire city into 4ones and drew out samples out of each 4one.

#'! he si4e of samples drawn from each 4one depended on the prospectiveness of the

particular area.

3or e.g., if a particular research area consisted of %ffices then the sample si4e would

obviously be higher than an area like shopping mall or $


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RESEARCH DESI+N:-

Con)usion Oriented Rese&r)h: -

he research was conclusion oriented because this research aimed at identifying the

characteristics of a successful entrepreneur. In other words it is a research when we give our

own views about the research.

Des)ri$tie Rese&r)h: -

he research was a descriptive research as it was concerned with specific predictions, with

narration of facts and characteristics concerning individuals specially entrepreneurs. In other

words descriptive research is a research where in researcher has no control over variable. e

Cust presents the picture which has already studied.

SA"#$E DESIGN

sampling design is a definite plan for obtaining a sample from a given population. It refers

to the techni(ue or the procedure the researcher adopts in selecting items for the sample. he

following factors need to be decided within the scope of sample design"

Unierse o2 the Study: -he universe of the study included respondents in &elhi /+-

#1>> exixting customers!.

S&%$e Si0e:-Sample si4e is the number of elements to be included in a study. Geeping in

mind all the constraints B> respondents was selected..

S&%$in, Te)hniues:-he sampling techni(ues used are convenience sampling techni(ue

and simple random sampling techni(ue.

/ethods o2 D&t& Coe)tion" D -esearch work is exploratory in nature. Information has

been collected from both $rimary and Secondary data.

Pri%&ry sour)es: -$rimary data are those, which are collected afresh and for the first time,

and thus happen to be original in character. $rimary data has been collected by conductingsurveys through (uestionnaire, which include both openD ended and closeDended (uestions.

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Se)ond&ry Sour)es: - Secondary data are those which have already been collected by

someone else which already had been passed through the statistical process. In this research

proCect secondary source used were books, online Cournals and websites and lead

management system.

Toos o2 Present&tion &nd An&ysis: -

o analy4e the data obtained with the help of (uestionnaire, following tools were used.

Toos o2 Present&tion:It means what tools were used to present the data in a meaningful way

so that it becomes easily understandable. In this research tools used were tables and graphs.

Toos o2 An&ysis:In this research the tools of analysis used were $ercentage method.

=1


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CHAPTER-

ANAYSIS AND

INTERPRETATION

='


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TAB$E'(). +ender o2 the res$ondent.

2)/&)- /%.%3 -)S$%/&)/S $)-+)/2)

9ale B> B>O

3emale => =>O

W

3I2-)1.; +ender o2 the res$ondent.

male

female

==


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T!=*E5.9O))u$&tion o2 the res$ondent.

%ccupation /%.%3 -)S$%/&)/S $)-+)/2)

Student '> '>O

*usiness => =>O

Service '@ '@O

%ther 1@ 1@O

3I2-)1. O))u$&tion o2 the res$ondent.

student

business

service

other

=@


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*A)1.=Are you &"&re &bout the sh&re %&r'et .

%$I%/S /%.%3 -)S$%/&)/S $)-+)/2)

U)S '> '>O

/% 6> 6>O

3I2-) 1.= Are you &"&re &bout the sh&re %&r'et.

yes

no

=B


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*A)1.@ !ith "hi)h bro'er&,e 2ir% do you h&e & de%&t &))ountX

%$I%/S /%.%3 -)S$%/&)/S $)-+)/2)

S-)G/ '> '>O

-)AI/+) +$IA '' ''O

G%G S)+-II)S 16 16O

&3+ S)+-II)S '@ '@O

%)-S 1@ 1@O

3I2-)1.@ I2 yesF "ith "hi)h bro'er&,e 2ir% do you h&e & de%&t &))ountG

sharekhan

reliance capital

kotak securities

hdfc securities

others

*A)1.BAre you s&tis2ied "ith their seri)es o2 sh&re'h&n td.G

=J


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%$I%/S /%.%3 -)S$%/&)/S $)-+)/2)

U)S B@ B@O

/% @ @O

3I2-)1.B Are you s&tis2ied "ith their seri)es o2 sh&re'h&n td.

yes

no

*A)1.JRe&son 2or )hoosin, Sh&re'h&n td.G

%$I%/S /%.%3 $)-+)/2)

=6


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-)S$%/&)/S

brokerage rate =@ =@O

research and investement tools '> '>O

online availabilityDinterface

and ease of use

1> 1>O

minimum opening margin and

maintenance fees

1@ 1@O

additional perks and services 1> 1>O

3I2-)1.J Re&son 2or )hoosin, & bro'er&,e 2ir%

brokerage rate

research

online availability

minimum opening

adiitional perks

*A)1.6 Ho" %u)h do you e8$e)t to e&rn 2ro% your s&in,sG #s$e)i2y in $er)ent&,e(

=5


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%$I%/S /%.%3 -)S$%/&)/S $)-+)/2)

1>OD'>O '@ '@O

'>OD>O => =>O

>OD@>O 1@ 1@O

@>O%- *%O

3I2-)1.6 Ho"%u)h do you e8$e)t to e&rn 2ro% your s&in,sG #s$e)i2y in $er)ent&,e(

58&78

78&98

98&68

68%R !=%(E

*A)1.5 !oud you i'e to s"it)h to so%e other seri)es $roider i2 s&%e 2&)iities &re

o22ered to you &t & o"er $ri)eX

%$I%/S /%.%3 -)S$%/&)/S $)-+)/2)

@>


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Ues > >O

/o J> J>O

3I2-)1.5 !oud you i'e to s"it)h to so%e other seri)es $roider i2 s&%e 2&)iities

&re o22ered to you &t & o"er $ri)eG

yes

no

*A) 1.1>!oud you i'e to re)o%%end sh&re'h&n td. Produ)ts seri)es &nd

2&)iit&te to othersG

Suggestion -espondent $ercentage

@1


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Ues 5>O 5>O

/o 1>O 1>O

0)4"RE 5.58!oud you i'e to re)o%%end sh&re'h&n td. Produ)ts seri)es &nd

2&)iit&te to othersG

yes

no

CHAPTER @

@'


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*INDIN+S AND

SU++ESTION

*INDIN+S:

*ased on the real data collected by primary and secondary sources and the information, we

can get the following findings"

he broking charges are charged minimum by sharekhan.ltd against its

competitors.

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here is no charges for opening of demat account in sharekhan.ltd. It is free of cost

but annual charges for the demat ac are -s==>year. wa r e n es s a b o ut t h e b a s i c s h a r e m a r k e t i s n o t v e r y g o o d a m o n g

t h e c u s t o m e r s a n d a l s o h a s t h e n e g a t i v e i m a g e o f s h a r e m a r k e t . lt h ou g h m ar k et i ng s t ra t eg i es a r e g o od b u t r e (u i re d m o re e D

m ar ke ti ng s o t ha t t he c om pa n y c an r ea ch t o m ax i mu m n o. o f

c u s t o m e r s . %nly B@ O of the respondents studied have the awareness level about the operational

system of the stock market and the derivative market in india. 3 re (u en cy o f t ra de ma de b y t he c us to me rs i s v er y h ig h o n

intraday basis and it is very low for I$%s applications only. he opinion about the current scenario of the market is volatile more than

previou s ye ars and people think that it is risky to invest at this time. 9 os tl y i nv es tm en t i s m ad e o n t he b as is o f r es ea rc h ma il s

p ro v id ed b y t he r e l a t i on s h ip managers and there are very few who want to

play try and error.

6= O of the respondents are aware about the role played by S)*I whereas 1B O of the

respondents are not aware about it.

*UTURE +RO!TH PROSPECTS:

he /ew Uear began on a shaky note on &alal Street. fter rising for three consecutive weeks

in &ecember, stock markets witnessed volatility in the first week of Hanuary, with the Sensex

and the /ifty declining =O and .JO, respectively.

he instability was largely due to skyrocketing inflation. 3ood inflation during the week rose

to 16.O as compared to 1=.=O in the last week of &ecember. he II$ numbers too were not

encouraging. Industrial growth plunged to '.JO in /ovember as compared to an expansion of

@=


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11.O in the same month a year ago. he pulling out by 3IIs and a hike in interest rates by

the -*I still remains a concern.

hough the mediumD and longterm prospects continue to be positive, analysts believe that the

markets might face some nearDterm headwinds. lso, volatility may persist for some time.

Since it isnFt possible to control the market sentiments, it would be better to focus our

attention on the sectors we are invested in. his would give us a more accurate picture of the

growth prospects of the 9oney odayD


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ess ti%e:

hey should try to make some arrangements to reduce account opening

time by verifying documents at branch it selves.

in' b&n' A?Cs:

Ainked as many accounts as client wants to its online account.

Ne" b&n's in the 'itty:

/eed to tie up with maCor banks like llahabad *ank, *ank of *aroda etc.

Custo%er s&tis2&)tion:

he company should focus on the customer satisfaction not on Cust taking money from

their pocket.

Controed br&n)hes :

he company would have to make some arrangements to control the branches and

make standardi4ed procedures for all of them for their better control and performance

appraisal.

+ommitment should be e(uali4ed for every person.

$rovide the facility of free demonstrations for all.

Improvement in the opening of &eDmat 7 contract notice procedure is re(uired.

here should be a limited number of clients under the relationship manger. So that he

can handle new as well as old customer properly.

Some promotional activities are re(uired for the awareness of the customer.

$eople at young age should be encouraged to invest in stock market.

@B


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Seminars should be held for providing information to prospective and present

customers. I suggest the exchange authorities to take steps to educate Investors about their rights

and duties. I suggest to the exchange authorities to increase the investors confidences. I suggest the exchange authorities to be vigilant to curb wide fluctuations of prices.

he speculative pressures are responsible for the wide changes in the price, not

attracting the genuine investors to the greater extent towards the market. 2enuine investors are not at all interested in the speculative gain as their investment is

based on the future profits, therefore the authorities of the exchange should be more

vigilant in imposing to curb the speculative of securities. /ecessary steps should be taken by the exchange to deal with the situations arising

due to break down in online trading.

CHAPTER @ 5

@J


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CONCUSION

CONCUSION:

%n the basis of the study it is found that Sharekhan Atd has better image among the

customers 7 has good marketing strategies which are easily influences the customers against

the other stockbrokers because of their timely market research and personali4ed advice on

how to improve the marketing strategies and to aware the customers regarding products and

services of sharekhan.

Sharekhan Atd. provide the facility of rade tiger as well as relationship manager facility for

encouragement and protect the interest of the investors. It also provides the information

@6


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through the internet and mobile alerts that what I$%s are coming in the market and it also

provides its research on the future prospect of the I$%.

Study also concludes that people are not much aware of commodity market and while its

going to be biggest market in India.

he company should also organi4e seminars and similar activities to enhance the

knowledge of prospective and existing customers, so that they feel more comfortable

while investing in the stock market. hings have changed for the better with the sharekhan going onDline coupled with

endeavor to stream line the whole trading system, things have changed dramatically

over the last to = years. /ew and advanced technologies have breached geographical

and cultural barriers, and have brought the countrywide market to doorstep.

*-%G)-S have suddenly been thrown to intense competition from their counter

parts across the country. he -egional Stock )xchanges have their own advantages like being nearer to the

retail investors and to let the *rokers perish would be detrimental to stock market

system there is no brokerage firms with in India with national reach. In the present scenario and to compete the *-%G)-S would re(uire sound

infrastructure and trading as per international standards. he concepts of business

have changed and today this has become service to client or to provide the best

possible service to client or to engage into new business from the regional center to

the metro centers and to impart li(uidity introduction of onDline trading is necessary. he introduction of onDline trading would influence in the investors resulting in an

increase in the business of the exchange. It has helped the brokers handling a vast

amount of transactions and this can be an efficient trading, delivering, settlement

system with ade(uate protection to investors. he trading of S-)G/ of the

first day was -s. 1.6 crores. &ue to invention of online trading there has been greater benefit to the investors as

they could sell buy shares as and when re(uired and that to with online trading, it

will inspire confidence in investors resulting in increase business of the exchange.

he *-%G)-S has a greater scope than compared to the earlier times because ofinvention of online trading

@5


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he concept of business has changed today this is a service oriental industry hence the

survival would re(uire them to provide the best possible service to the client he longer trading time had helped the investors as well as the broker to take much

interest in the trading of the securities as they had extra time to take in the security

market he existing system can be further improved by introduction of stop loss facility that

will help to reduce investors losses

lso there is need for an exchange to setup standing committee into breakdown of online

trading.

he Indian stock market witnesses both the good as well as the bad time. 9ost of the people

keep them away from bad times that lead to low li(uidity in the markets. *ut for the rest who

want to remain in the markets without losing much of their capital and take leverage of the

market movements in both north and south directions, &erivatives Instruments are the tools to

be with. *y studying and applying various &erivative Instruments like 3utures, 3orwards and

%ption strategies, I came to a conclusion that these instruments are the best ones to turn the

bad time into a good one i.e. to earn profits in any market direction.

herefore, &erivative Instruments are a very good tool that will help us to minimi4e our risk

and maximi4e our returns so that one can have conviction in his portfolio in the hugely

volatile stock market

3inally, the obCective of the study is accomplished and I recommend that one should use the

&erivative Instruments, as it is very much applicable in the Indian Stock 9arket.

B>


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ANNE7URE

Tee$honi) &nd )&ed )&in, >uestionn&ire

/ameYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYY

+ontact no"YYYYYYYYYYYYYYYYYYYYYYYYYYYYY

&o you invest into stock marketX

Ues /o If yes, where do you investingX

)(uity 9utual fund

+ommodity %ther

3rom which brokerage house you do tradingX

Indiabulls -eliance %thers

ngle Sharekhan

B1


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:hich way you prefer for tradingX

%nline %ffline

:hat is your current brokerage rateX

YYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYY ave you ever heard about Sharekhan broking firmX

Ues /o

re you interested because we have scheme going onX

+es #o

If yes then appointment is generated for live demonstration for Sharekhans online

softwareXUes /o

4I4O+RAPHY:

ists o2 boo's:

Sharekhans brochures

Investment and portfolio management and basic of share market

&erivatives" valuation and risk management by &avid .. &ubofsky 7 homas :

9iller

3inancial engineering" complete guide to financial innovation by


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