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SUMMER INTERNSHIP PROJECT

PROJECT REPORT ON

CUSTOMER SATISFACTION TOWARDS SERVICES OF DEMAT ACCOUNT


OF INDIABULLS FINANCIAL LTD.
Undertaken at

INDIABULLS SECURITIES LTD.

Submitted in partial fulfillment of PGDCRM program 2010-12

Submitted by

Name: Akhilesh kumar Roll Number: 1001570004


Company Guide Faculty Guide

Name: Mr. Ankush Jain Designation: Relationship Manager

Name: Mr. Somesh Sharma Designation: Lecturer.

INVERTIS INSTITUTE OF MANAGEMENT STUDIES BAREILLY

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ACKNOWLEDGMENT
The satiation and euphoria that accompany the successful completion of task would be incomplete without the mention of the people who made it possible. After all, success is the epitome of hard work, severance, un-deferred missionary, zeal, steadfast determination and most of all encouraging guidance. So, with immense gratitude, I acknowledge all those whose guidance and encouragement served as a beacon light and crowned our efforts with success

I am highly thankful to my college, Apeejay School of Management, Dwarka and Mr.Rajiv Madan, who helped me to get a corporate exposure before I go on to join a corporate house. I express my heartfelt thanks to Mr. Harsh Vardhan, Vice President, Indiabulls Securities Ltd. who gave me an opportunity to work in such a prestigious organization. I am sure that knowledge gained here will go a long way in enriching my career. I also sincerely thank to Mr.Vishal Jaiswal, Relationship Manager who blessed this endeavor with their enthusiastic, patient and unconditional support. I am thankful for his unconditional support and encouragement throughout the project. The project could not have been completed without their support and guidance. I am also deeply indebted to my friends and other colleagues for their help in the completion of work. Lastly, I take this opportunity to thank all the entire senior executives and associates of Indiabulls Securities Ltd., without their cooperation it would have been impossible to complete this project. Thank You 2

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CONTENTS

EXECUTIVE SUMMARY

CHAPTER 1

1.0 OBJECTIVES AND METHODOLOGY 1.1 Significance of the Study 1.2 Managerial Usefulness of the Study 1.3 Objectives 1.4 Scope of the Study 1.5 Methodology 8 8 9 9 10-11

CHAPTER 2

2.0 COMPANY PROFILE 2.1 Organizational Chart 2.2 Introduction 2.3 List of Current Charges 2.4 History 2.5 Growth Story 2.6 Indiabulls Core Strength 2.7 Management Team 2.8 List Of Products 2.9 Swot Analysis 14 15-16 17 18 19-20 21 21 22 23

CHAPTER 3

3.0 Overview of Share Market


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3.1 Introduction 3.2 About Demat Account 3.3 Benefits of Demat Account 3.4 Dematerialization Process CHAPTER 4 4.0 On The Job Training 4.1 Objective 4.2 Target/Task Assigned 4.3 Strategies Applied 4.5 Achievements 4.6 Corporate Learnings

25-27 28 28-30 31

33 33 34 34 35

CHAPTER 5

5.1 DATA ANALYSIS AND INTERPRETATION 5.2 Data analysis & Interpretation 5.3 Hypothesis Testing 5.2 Findings 5.3Recommendations 5.4Limitations 37-50 51-53 54 55-56 57 58

CHAPTER 6 CHAPTER 7

6.1 BIBLIOGRAPHY 7.1 ANNEXURES 7.2 Questionnaire

59-60
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EXECUTIVE SUMMARY

The project has been carried out to have an overview of Customers satisfaction towards IndiaBulls securities Ltd. services and to understand investors perception about Share market in the context of their trading preference, explore investors risk perception & find out their preference over Top Equity funds. The methodology used was data collection using Schedule. Secondary data was collected from Internet and Books . Primary Data was collected through survey among existing clients . The procedure adopted to select sample was simple random sampling

The research design is analytical in nature. A questionnaire was prepared and distributed to Investors. The investors profile is based on the results of a questionnaire that the Investors completed. The Sample consists of 100 investors from various brokers premises. The target customers were Investors who are trading in the stock market. The area of survey was restricted to people residing in DELHI.

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INTRODUCTION OF INDIABULLS

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INDIABULLS GROUP
Indiabulls Group is one of the country's leading business houses with business interests in Power, Financial Services, Real Estate and Infrastructure. Indiabulls Group companies are listed in Indian and overseas financial markets. The Net worth of the Group is Rs 16,844 Crore and the total planned capital expenditure of the Group by 2013-14 is Rs 35,000 Crore.

Indiabulls Power is currently developing Thermal Power Projects with an aggregate capacity of 5400 MW. The first unit is expected to go on stream in May 2012. The net worth of Indiabulls Power is Rs 3,919 Crore. The company has a total capital expenditure of Rs 27,500 Crore. The company has been assigned 'BBB' rating.

Indiabulls Financial Services is one of Indias leading non-banking finance companies providing Home Loans, Commercial Vehicle Loans and Secured SME Loans. The company has a net worth of Rs 4,661 crore with an asset book of Rs 20,788 Crore. The company has disbursed loans over Rs 50,000 Crore to over 3,00,000 customers till date. Amongst its financial services and banking peers, Indiabulls Financial Services ranks amongst the top few companies both in terms of net worth and capital adequacy. Indiabulls Financial Services has been assigned AA+ rating and has presence in over 87 cities and towns with a total branch network of 170 branches.

Indiabulls Securities is one of India's leading capital markets companies providing securities broking and advisory services. Indiabulls Securities also provides depository services, equity research services and IPO distribution to its clients and offers commodities trading through a separate company. These services are 8

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provided both through on-line and off-line distribution channels. Indiabulls Securities is a pioneer of on-line securities trading in India. Indiabulls Securities inhouse trading platform is one of the fastest and most efficient trading platforms in the country. Indiabulls Securities has been assigned the highest rating BQ-1 by CRISIL.

CHAIRMAN'S DESK
Sameer Gehlaut Chairman, Indiabulls Group Sameer Gehlaut has been the chairman of Indiabulls Group since inception. He is also the chairman of major Indiabulls companies: Indiabulls Power, Indiabulls Financial Services & Indiabulls Real Estate. Under his leadership, Indiabulls Group has grown in scale and size to a business house with strong businesses in various sectors.

Mr Gehlaut started Indiabulls Group after working briefly with Halliburton before returning to India. Mr Gehlaut received a B.Tech degree in Mechanical Engineering from Indian Institute of Technology, Delhi.

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MANAGEMENT TEAM
Indiabulls Group

Mr Rajiv Rattan - Vice Chairman Mr Saurabh Mittal - Vice Chairman Mr Gagan Banga - Group Spokesperson Mr Ashok Kacker - Group President Mr Saket Bahuguna - Group CLO Mr Ashok Sharma - Group CFO Mr Ajit Mittal - Group Director Mr Gurbans Singh - Group Director Mr Tejinderpal Singh Miglani - Group CIO

Indiabulls Financial Services Limited


Mr Gagan Banga - CEO Mr Ashwini Kumar Hooda - DMD

Indiabulls Real Estate Limited


Mr Vipul Bansal - CEO Mr Narendra Gehlaut - Joint MD Mr O P Agrawal- COO

Indiabulls Power Limited


Mr Ranjit Gupta - CEO Mr Mehul Johnson - President

Indiabulls Securities Limited


Mr Divyesh Shah - CEO Mr Vijay Babbar - DMD 10

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COMPANY PROFILE

Name: Indiabulls Securities Ltd. Founded by: Sameer gehlaut with two fellow engineering graduates Rajiv
Ratan & Saurav Mittal.

Established in: May 2000 Head Office: F-60, Malhotra Building, 2nd Floor, Connaught Place, New
Delhi - 110001, Delhi

Chairman: Mr. Sameer Gehlaut Chief Executive Officer: Mr. Devesh Shah

Chief Compliance Officer: Mr. Ashok Sharma Designated Directors: Mr.Gagan Banga & Mr.Rajiv Rattan

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ORGANISATIONAL CHART OF INDIABULLS SECURITIES LTD.

CEO

(Devesh Shah)

ONLINE

OFFLINE

Executive Vice President Vice President


Mr. Vijay Babbar (Rajasthan,Gujrat & north)

Mr. Amiteshwar (South & Mumbai)

Assistant Vice President

Mr.Prasanjit (kolkata & Bhuvneshwar)

Relationship Manager

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About Indiabulls Securities Ltd.


Operations Indiabulls Securities Ltd (Indiabulls) is a 100%Subsidiary of Indiabulls Financial Services Ltd, which isOne of the leading financial and real estate services firm. Indiabulls Financial Services Ltd is listed on the National Stock Exchange, Bombay Stock Exchange and Luxembourg Stock Exchange and is part of the Indiabulls Group (other listed group companies are Indiabulls Real Estate Limited and Indiabulls Securities Limited).. It provides a wide range of products and services in securities Trading such as research, Internet trading, IPOs, Depository services etc. Indiabulls is also a depository participant with the NSDL and CDSL for trading and Settlement of dematerialized shares. The company Functions through a wide network of 475 branches which are spread over 192 cities. It has an in-house broking back office and also offers internet based share trading to its customers. The company also provides an integrated trading, depository and bank account enabling customers to trade from anywhere across the globe. The other businesses of Indiabulls include Indiabulls Credit Services Ltd, Indiabulls Housing Finance Ltd, Indiabull Real Estate Ltd. As of Dec 2006, Indiabulls turnover in NSE FO was Rs 23.9 mn, NSE Cash was Rs 7.6 mn and BSE Cash was 1.13 mn.

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REACH & ACCESS No. Of Employees: 8922 No. Of Branches: 475 No. Of Cities/Towns: 192 MEMBERSHIP Cash Market: NSE BSE Derivatives: NSE BSE Debt: NSE Commodities: MCX NCDEX NUMBER OF TERMINALS Total 2700 MAJOR CITIES Mumbai Delhi Kolkata Chennai 17 31 8 6

Ahmedabad 6 OTHER CITIES 105 CLEARING BANK HDFC Bank, ICICI Bank,Axis Bank & IDBI Bank
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Equity & Derivatives Brokerage

Indiabulls provides end-to-end equity solutions to institutional and individual investors. Consistent delivery of high quality advice on individual stocks, sector trends and investment strategy has established us a competent and reliable research unit across the country. Clients can trade through us online on BSE and NSE for both equities and derivatives. They are supported by dedicated sales & trading teams in our trading desks across the country. Research and investment ideas can be accessed by clients either through their designated dealers, email, web or SMS.

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List Of Charges

Type of Trade

Brrokrage Service Tax Charged on Traded Charged on

Security

Other

Total Charges

Stamp

Transaction Levies Tax Charged on Charged Total on Total Volume

Transaction duty Charged on Total Turnover Re. 1 per Rs. 10,000 20 Paisa per Rs. 10,000 Re. 1 per Rs. 10,000 20 Paisa per Rs. 10,000

Brokrage Volume 12.24% 0.125%

Volume Delivery 0.50%

(Buy/Sell) NA 0.018%

Future

0.10%

12.24%

0.017% only on selling 0.025 only on selling

0.006%

NA

Intraday 0.10%

12.24%

NA

0.018%

Option

0.10%

12.24%

0.017% only on selling

0.006%

NA

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Annual Maintenance Charges A/c Opening Charges Period To open a new Account Software

Zero Rs. 900(1 Time Charges Only) 5 Working Days Web Browser based Terminal (Free of cost) Power Indiabulls (Rs. 750 -1 time Charges)

Exposure

12 Times on Intraday 2 Times on Cash/Delivery (on 1 lack turnover )

History Of Indiabulls Securities Ltd.

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Indiabulls is India's leading financial services. Chairman Sameer Gehlaut (previously with Halliburton, an oil company) started Indiabulls in May 2000 as an online stock brokerage with two fellow engineering graduates from the Indian Institute of Technology, Delhi (Rajiv Rattan, COO (previously with Schlumberger (also an oil company) and Saurabh Mittal, Director. Sameer Gehlaut, Rajiv Rattan and Saurabh Mittal started Indiabulls Group by acquiring a minor brokerage company, Orbis Securities, in 1999. The group started it business as a stock-brokerage firm and pioneered online brokerage business in India before diversifying into other financial services areas such as consumer credit (2004) and mortgages (2005). The group partnered with Farallon Capital to purchase land-mark bombay land assets and is currently building one of the largest integrated commercial real estate projects in India (valued at more than $2 billion). The group recently entered the Power generation business and aims to have more than 5000 MW of power generation under construction before 2008 end. The three founders today control the Indiabulls Group and own more than $2,000 million worth of stock. Sameer Gehlaut was recently listed in the Forbes Billionaires 2008 list, and Saurabh Mittal and Rajiv Rattan are each worth more than $500 million.

Growth story
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2000-01 Indiabulls Financial Services Ltd. established Indias one of the first trading platforms with the development of an in house team. 2001-03 Indiabulls expands its service offerings to include Equity, F&O, Wholesale Debt, Mutual fund, IPO distribution and Equity Research. 2003-04 Indiabulls ventured into Insurance distribution and commodities trading. Company focused on brand building and franchise model. 2004-05 Indiabulls came out with its initial public offer (IPO) in September 2004. Indiabulls started its consumer finance business. Indiabulls entered the Indian Real Estate market and became the first company to bring FDI in Indian Real Estate. Indiabulls won bids for landmark properties in Mumbai. 2005-06 Indiabulls has acquired over 115 acres (0.47 km) of land in Sonepat for residential home site development.
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Merrill Lynch and Goldman sac, one of the renowned investment banks in the world have increased their shareholding in Indiabulls. Indiabulls is a market leader in securities brokerage industry, With around 31% share in online trading, Farallon Capital and its affiliates, the worlds largest hedge fund committed Rs. 2000 million for Indiabulls subsidiaries Viz. Indiabulls Credit Services Ltd. and Indiabulls Housing Finance Ltd. Steel Tycoon Mr. LN Mittal promoted LNM India Internet venture Ltd. acquired 8.2% stake in Indiabulls Credit Services Ltd. 2006-07 Indiabulls entered in a 50/50 joint venture with DLF, Kenneth Builders & Developers (KBD). KBD has acquired 35.8 acres of land from Delhi Development Authority through a competitive bidding process for Rs 450 crore to develop residential apartments. Indiabulls Financial Services Ltd. is included in the prestigious Morgan Stanley Capital International Index (MSCI). Farallon Capital has agreed to invest Rs. 6,440 million in Indiabulls Financial Sevices Ltd. Indiabulls ventured into commodity brokerage business.Indiabulls has received an in principle approval from Government of India for development of multi product SEZ in the state of Maharashtra.Dev Property Development plc., has subscribed to new shares and has also acquired a minority shareholding from the Company.Indiabulls Financial Services Ltd. Board resolves to
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Amalgamate Indiabulls Credit Services Limited and demerge Indiabulls Securities Limited. 2008 The group recently entered the Power generation business and aims to have more than 5000 MW of power generation under construction before 2008 end.

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India Bulls Core Strengths


Breadth of Services In line with its client-centric philosophy, the firm offers to its clients the entire spectrum of financial services ranging from brokerage services in equities and commodities, distribution of mutual funds, IPOs and insurance products, real estate, Mortgages and corporate finance. Clients deal with a relationship manager who leverages and brings together the product specialists from across the firm to create an optimum solution to the client needs.

Management Team
Indiabulls brings together a highly professional core management team that comprises of individuals with extensive business as well as industry experience. In-Depth Research Indiabulls research expertise is at the core of the value proposition that we offer to our clients. Research teams across the firm continuously track various markets and products. The aim is however common - to go far deeper than others, to deliver incisive insights and ideas and be accountable for results.

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MANAGEMENT Chief Executive Officer Devesh Shah Chief Compliance Officer Ashok Sharma Designated Directors Gagan Banga, Rajiv Rattan

LIST OF PRODUCTS:
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Demat Accounts Derivatives (F&O)


NCDEX Commodities Trading

Intial Public Offers (IPOS) Trading Account Insurance Real estate Corporate Finance Mortgage

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SWOT ANALYSIS OF Indiabulls Securities Ltd. STRENGTHS:


Cost effective (No AMC) Technology: Provide Power High Account Opening Charges. High Brokerage Not very much beneficial for small trader Smooth Fund Transfer Transparency: Order from Customers on recording lines Indiabulls Software. Compliance: Very sign secure. Provide Relationship manager

WEAKNESSES:
Web browser is not so effective.

OPPORTUNITIES:
Entry of Foreign Players:: New forms of trading including T+2 settlement system, dematerialization etc are strengthening the retail foreign companies to enter the

THREATS:
Low Product Differentiation Proves Beneficial:: The retail broking services provided by the various companies is homogeneous with very low product to enjoy a greater bargaining power.
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brokerage market and attracting differentiation. This allows customers

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Indian industry. Various foreign banks like ABN Lack of Expertise Curtails Bargaining Power Retail investors often lack the knowledge and expertise in the financial sector that calls them Amro and others are planning to enter the Indian retail brokerage industry. Alternative Investment Options Various alternative forms of investment including fixed deposits substitutes to retail broking products and services.

to approach the broking houses. with banks and post offices etc act as

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INTRODUCTION

A Stock Exchange is a place that provides facilities to stockbrokers to trade company stocks and other securities. A stock may be bought or sold only if it is listed on an exchange. Thus it is the meeting place of the stock buyers and sellers. India's premier Stock Exchanges are the Bombay Stock Exchange and the National Stock Exchange.

Stock market milestones


1875 BSE established as 'the native Share and Stock Brokers Association' 1956 BSE became the first stock exchange to be recognized under the Securities Contract Act. 1993 NSE recognized as a stock exchange. 2000 Commencement of Internet trading at NSE. 2000 NSE commences derivatives trading (Index futures) 2001 BSE commences derivatives trading

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Bombay Stock exchange

The Bombay Stock Exchange Limited (Mumba eyar Bjr) (formerly, The Stock Exchange, Mumbai; popularly called The Bombay Stock Exchange, or BSE) is the oldest stock exchange in Asia. It is also the biggest stock exchange in the world in terms of listed companies with 4,800 listed companies as of August 2007.[1] It is located at Dalal Street, Mumbai, India. On 31 December 2007, the equity market capitalization of the companies listed on the BSE was US$ 1.79 trillion, making it the largest stock exchange in South Asia and the tenth largest in the world. The Bombay Stock Exchange was established in 1875. Around 4,800 Indian companies list on the stock exchange,and it has a significant trading volume. The BSE SENSEX (SENSitive indEX), also called the "BSE 30", is a widely used market index in India and Asia. Though many other exchanges exist, BSE and the National Stock Exchange of India account for most of the trading in shares in India.

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National Stock Exchange


The National Stock Exchange of India Limited (NSE), is a Mumbai-based stock exchange. It is the largest stock exchange in India in terms of daily turnover and number of trades, for both equities and derivative trading.. Though a number of other exchanges exist, NSE and the Bombay Stock Exchange are the two most significant stock exchanges in India, and between them are responsible for the vast majority of share transactions. The NSE's key index is the S&P CNX Nifty, known as the Nifty, an index of fifty major stocks weighted by market capitalisation. NSE is mutually-owned by a set of leading financial institutions, banks, insurance companies and other financial intermediaries in India but its ownership and management operate as separate entities. As of 2006, the NSE VSAT terminals, 2799 in total, cover more than 1500 cities across India . In October 2007, the equity market capitalization of the companies listed on the NSE was US$ 1.46 trillion, making it the second largest stock exchange in South Asia. NSE is the third largest Stock Exchange in the world in terms of the number of trades in equities.It is the second fastest growing stock exchange in the world with a recorded growth of 16.6%. There are two ways for investors to get shares from the primary and secondary markets. In primary markets, securities are bought by way of
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public issue directly from the company. In Secondary market share are traded between two investors.

Primary and Secondary Markets


Primary Market
An Issuer/Company enters the Primary markets to raise capital. They issues new securities in Exchange for cash from an investor (buyer). If the Issuer is selling securities for the first time, these are referred to as Initial Public Offers (IPO's). Summing up, Primary Market is the means by which companies float shares to the general public in an Initial Public Offering to raise capital. Eg. If the promoters of a private company, say XYZ makes its shares available to investors, company XYZ is said to have entered the primary market.

Secondary Markets
Once new securities have been sold in the Primary Market, an efficient mechanism must exist for their resale, if investors are to view securities as attractive opportunities. Secondary Market transactions are referred to those transactions where one investor buys shares from another investor at the prevailing market price or at whatever price both the buyer and seller agree upon. The Secondary Market or the Stock Exchanges are regulated by the regulatory authority. In India, the Secondary and Primary Markets are governed by the Security and Exchange

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DEMAT ACCOUNT

Demat refers to a dematerialised account. Just as you have to open an account with a bank if you want to save your money, make cheque payments etc, you need to open a demat account if you want to buy or sell stocks. So it is just like a bank account where actual money is replaced by shares. You have to approach the DPs (remember, they are like bank branches), to open your demat account. Let's say your portfolio of shares looks like this: 40 of Infosys , 25 of Wipro, 45 of HLL and 100 of ACC. All these will show in your demat account. So you don't have to possess any physical certificates showing that you own these shares. They are all held electronically in your account. As you buy and sell the shares, they are adjusted in your account. Just like a bank passbook or statement, the DP will provide you with periodic statements of holdings and transactions.

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What's the difference between a depository and a depository participant? A depository is a place where the stocks of investors are held in electronic form. The depository has agents who are called depository participants (DPs). Think of it like a bank. The head office where all the technology rests and details of all accounts held is like the depository. And the DPs are the branches that cater to individuals. There are only two depositories in India -- the National Securities Depository Ltd (NSDL) and the Central Depository Services Ltd (CDSL). There are over a 100 DPs.

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Benefits of Demat Account


A safe and convenient way of holding securities (equity and debt

instruments both).
Transactions involving physical securities are costlier than those

involving dematerialised securities (just like the transactions through a bank teller are costlier than ATM transactions). Therefore, charges applicable to an investor are lesser for each transaction. Securities can be transferred at an instruction immediately. Increased liquidity, as securities can be sold at any time during the trading hours (between 9:55 AM to 3:30 PM on all working days), and payment can be received in a very short period of time. No stamp duty charges. Risks like forgery, thefts, bad delivery, delays in transfer etc, associated with physical certificates, are eliminated. Pledging of securities in a short period of time. Reduced paper work and transaction cost. Odd-lot shares can also be traded (can be even 1 share).
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Nomination facility available. Any change in address or bank account details can be electronically intimated to all companies in which investor holds any securities, without having to inform each of them separately. The DP itself, so no need to correspond with the companies, transfers securities. Shares arising out of bonus, split, consolidation, merger etc. are automatically credited into the demat account of the investor. Shares allotted in public issues are directly credited into demat account of the applicants in quick time

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Opening a Demat Account


To start dealing in securities in electronic form, one needs to open a demat account with a DP of his choice. An investor already having shares in physical form should ensure that he gets the account opened in the same set of names as appearing on the share certificate; otherwise a new account can be opened in any desired pattern by the investor. Getting started Choose a DP 1. Fill up an account opening form provided by DP, and sign an agreement with DP in a standard format prescribed by the depository. 2. DP provides the investor with a copy of the agreement and schedule of charges for his future reference. 3. DP opens the account and provides the investor with a unique account number, also known as Beneficiary Owner Identification Number (BO ID). Documents to be attached 1. Passport size photographs 2. Proof of residence (POR) - Any one of Photo Ration Card with DOB / Photo Driving License with DOB / Passport copy / Electricity bill / Telephone bill
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3. Proof of identity (POI) - Any one of Passport copy / Photo Driving License with DOB / Voters ID Card / PAN Card / Photo Ration Card with DOB 4. PAN card NOTE:The agreement required to be signed by the investor details the rights and duties of the investor and DP. DP may revise the charges by giving a 30 days prior notice. SEBI has rationalized the cost structure for isation by removing account-opening charges, transaction charges for credit of securities and custody charges, effective from January 28, 2005.

Maximum their names.

Number

of

holders

in

Demat

Account

A maximum of three persons are allowed to open a joint demat account in

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Dematerialization Process
An investor having securities in physical form must get them dematerialized, if he intends to sell them. This requires the investor to fill a Demat Request Form (DRF), which is available with every DP, and submit the same along with the physical certificates. Every security has an ISIN (International Securities Identification Number). If there is more than one security than the equal number of DRFs has to be filled in. The whole process goes on in the following manner:

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INDIABULLS FINANCIAL SERVICES LTD.

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Overview

Indiabulls Financial Services Ltd, one of India's leading non-banking financial companies (NBFCs) is leading provider of lending and other financial products including home loans, loans against property, commercial vehicle loans, and commercial credit to prime corporates. Indiabulls Housing Finance Ltd, a SARFAESI notified Housing Finance Company is a wholly owned subsidiary of Indiabulls Financial Services Ltd; provides competitively priced home loans to both self employed & salaried segment clients. With dedication to serve the customers at maximum possible locations, Indiabulls Financial Services has a wide network of 170 branches spread over 87 cities across India. Indiabulls Housing Finance has one of the fastest Home Loan delivery systems in India. Easy & convenient online access of Indiabulls Home Loan account saves time, efforts & money wasted in visiting offices of home loan providers for every single query or requirement. All the security measures for online account access are taken care of at Indiabulls Housing Finance.

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Indiabulls Home Loans is emerging as the most preferred brand in housing finance. Indiabulls Financial Services has over 3,00,000 satisfied customers & cumulative disbursements of loan amount over Rs.50,000 Cr. Indiabulls believes in forging a deep personal bond with each of its valued customers. At Indiabulls Housing Finance, Customer care is of utmost importance. At Indiabulls all the customers feel privileged as they get guidance in all aspects of home buying such as selecting the suitable property, checking approvals of the project, filing documents, registration of the property, choosing EMI & tenure of their loan to accommodate their financial resources etc. Indiabulls team always tries to help customers even going beyond the call of duty. Indiabulls Financial Services enjoys AA+ rating and has one of the lowest leverage and highest net worth among the peer group. Indiabulls has very stable long term financing from leading Indian and international banks and financial institutions. Indiabulls is serving its customers over a decade with passion & commitment.

Indiabulls Financial Services Limited


Mr Gagan Banga - CEO Mr Ashwini Kumar Hooda - DMD

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INDIABULLS REAL ESTATE

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OVERVIEW
Indiabulls Real Estate is one of the largest real estate company in India with development projects spread across high-end office and commercial complexes, premium residential developments, mega townships, retail spaces, hotel and resorts, state of the art special economic zones and infrastructure development. It has 31 ongoing projects totaling 61 million square feet, 2551 acres of SEZ development and additional land bank of 580 acres. Each project bears a stamp of thoughtful solutions and highest quality. The company has partnered with specialists from India and abroad working on various aspects including design, landscaping, engineering and structural strength of each of the developments. It further employs most advanced construction equipments and technologies that guarantees on time delivery like advanced jump start technology, advanced logistics and vertical transportation systems, wind tunnel engineering as also international quality construction grade steel and the highest strength M70 and M80 concrete. The company has more than 90% of its portfolio in Mumbai, Delhi (NCR) and Chennai markets with $ 900 million of land bought through government auctions. The main focus of Indiabulls Real Estate is construction and development of properties, project management, investment advisory and construction services. Indiabulls Real Estate has delivered a record 3.3 million sq ft developed space valued at $ 1.75 billion (within 4 years of inception). This is fastest and largest delivery in value terms by any Indian real estate developer in the same time period. It has partnered with Farallon Capital Management LLC of USA to bring the first FDI into real estate in the country, is listed on the Mumbai, Luxembourg and Singapore Stock Exchange and has been assigned 'A+' rating. 45

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Indiabulls Real Estate Limited


Mr Vipul Bansal - CEO Mr Narendra Gehlaut - Joint MD Mr O P Agrawal- COO

Indiabulls Power Limited


Mr Ranjit Gupta - CEO Mr Mehul Johnson - President

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ON THE JOB TRAINING

Title
To generate leads by telecalling & by personal meetings and to close the deal along with the handling of the customers queries regarding share trading, account opening and maintenance, software installation and demonstration .

Objectives
To create awareness among the people about the different products offered by the company in the market through telecalling. To generate leads for open demat accounts. To accompany the relationship manager on his visits to the prospective clients. To learn how to work in a team. To acquaint myself with the work culture. To understand the operating terminals of equity market.

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To learn the trading procedures of equity market.

Target/Task
Overall Target: To generate business and gain experience in the tenure of two months of summer internship project.

Strategy
To achieve a goal successfully one needs to sketch a perfect roadmap or strategy to the destination and also need to follow the path strictly. The strategies applied to achieve the above mentioned targets are

1 Hunt for prospective customers through following Marketing Strategies: Telecalling Personal Visits Clients References
Database provided by the company, yellow pages or internet.

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Achievements
Applauded for managing the task of Account Opening efficiently. . Opened 10 D-Mat and Trading Accounts which is an achievement. To know how to handle the grievances of customers.

LIMITATION

Being a service industry , the quality is main concern in differentiation and it is not exactly miserable

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CONCLUSIONS

In a nutshell, I have learned various practical aspects of trading in the stock market. I have made about 100-150 calls per day in the initial days of training so as to generate maximum leads. I handled the queries of both the new & existing clients of the company pertaining to different issues like opening of accounts, trading procedures etc.

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CORPORATE LEARNINGS
To be a part of Indiabulls was the best opportunity for me to had:

A practical exposure of Financial world. Independently handling of clients. Came to know the practical problems of clients. Learnt the work done at front office. Learnt corporate culture. Learnt software used by company.

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OBJECTIVES AND METHODOLOGY

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OBJECTIVES AND METHODOLOGY

Significance:
Significance of the project is to find out customers satisfaction regarding the demat account and also to provide key information about the investors perception.

Managerial Usefulness of Study:

The study also highlights the area where the Company needs improvements. The study provides the complete information about all close competitors in Share Market.

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It provides a feedback from customers regarding their problems and perception about investing in Share Market so that they can improve their services

Objectives: To study the Share Market industry in detail To study the Level of customer satisfaction towards the services of Indiabulls. To find out the causes of dissatisfaction of customers of Indiabulls. To study the Investment procedure in Share Market To study the Accounting and Valuation methods of Share Market To study in brief various product & Services promoted by Indiabulls.

Scope of the Study:


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To look out for new prospective customers who are willing to invest in Share Market.

Methodology:

RESEARCH METHODOLOGY

I decided to do the project in two parts. The first part of the project is comprised of the study of share market as a whole and the second part deals with the customers satisfaction regarding the demat account. The first part of the project i.e. descriptive study is comprising an overall study of share market as what it is ,why to invest and where to invest, risk factor associated with it ie, an overview of whole Share Market industry. The second part of the project that is related to customers satisfaction regarding the demat account of Indiabulls. Indian Stock market has undergone tremendous changes over the years. Investment in Share Market has become a major alternative among Investors. The project has been carried out to understand customers satisfaction regarding the demat account of

Indiabulls in the context of their trading preference and explore investors


risk perception .

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The first part of the project relating the study of Share Market is collected through secondary data obtained from internet & books whereas the second part relating the customers satisfaction regarding the demat account of

Indiabulls is covered using primary data.


SOURCE OF DATA COLLECTION

Both Primary and Secondary data are required Primary data is the first hand information collected directly from the respondents . The tool used here is questionnaire. Primary Data is collected through survey among existing clients Secondary data is collected through internet, books

SAMPLE SIZE
The sample chosen is through random sampling. The questionnaire has presented to the respondent in the city of Delhi. The overall sample size is 100.

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ANALYSIS OF DATA
The data is collected with the help of questionnaire designed. Respondents were given adequate time to answer. The data is collected from 100 respondents.

Analysis is carried out by means of various processing operationsEditing- The collected data is examined to detect errors and omissions. It involved a careful scrutiny of completed questionnaire. It is done to ensure that the data was consistent, accurate and uniformly entered. Coding - Coding is necessary for efficient analysis and through it several replies are reduced to a small number of classes, which contained the critical information required for analysis. Tabulation- The process of summarizing the raw data and displaying the same in compact form is called tabulation.

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Analysis Instruments:
EXELWith the help of the EXEL the result has shown in the form of tables and graphs. The answer to all the objectives were achieved and presented in graphical form. The graphs facilitate relative comparisons. SPSS SOFTWAREFor the analysis of the data collected, SPSS software is used, which is helpful in analyzing the impact of one variable on the other. Besides, it also showed frequencies, average performances etc. This software helps to prove the various hypotheses.

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1.How Often Do customers Trade

DAILY 10%

WEEKLY 20%

MONTHLY 45%

OCCASIONALY 25%

45% 40% 35% 30% 25% 20% 15% 10% 5% 0%

45%

25% 20% 10%

Daily

Weekly

Monthly

Occasionally

Interpretation:- As we can see from the above diagram that different type of customer trade differently like daily, weekly, monthly and occasionally. But there is a great degree of variability between their trading. As near
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half of the respondents (45%) trade monthly, 25%of the respondents trade occasionally, 20% weekly and the respondents who trade daily are the lowest with 10%.The reason why less no. of people trade daily is the bearish market.

2. Duration trading with Indiabulls


Up to 6 Months 6 months To 1 year 33% 1 Year To 2 Year More Than 2 Years 33%

6%

28%

6% 33% 33%
Less Than 6 Months 6 Months- 1 year 1 Year-2 Year more than 2 Years

28%
Interpretation: As it is clear from the above mentioned data that there
are the respondents who are trading with the company from 6 month to more than 3 years but there degree is different respondents (6%)who deals with the company having a duration of 6 month are less because of falling of share market from the January 2008,now share market has become less attractive segment for investing as compare to the other
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source of investment. Respondents who are dealing with company from 1 year is having a good %i.e.32%the reason could be here the sharp increase in the sensex in those days .

3. Satisfaction level of customers

Satisfied 54%

Partially Satisfied 16%

Not Satisfied 30%

60% 50% 40% 30% 20% 10% 0%

Satisfied

Not Satisfied Partially Satisfied

Interpretation: A satisfied customer is key of the success of any business


so it is very essential for the long-term survival of the business that its customer is satisfied. From the above mentioned data it is clear that the 54% clients are satisfied with the services of Indiabulls, 16% clients are partially satisfied and remaining 30% are not satisfied from the company. So company
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should try to retain its satisfied customer and should try to attract its dissatisfied customer.

4. Know relationship manager

Yes 66%

No 34%

66%

Yes No

34%

Interpretation: Among 100 customers 66% clients know his Relationship


Manager and have a contact with his/her relationship Manager rest 34%
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doesnt even know about his/her Relationship Manager means they are not in touch with company (Indiabulls) and switching to other brokrage firms due to non guidance from relationship manager.

5.Customer having Demat Account in more than 1 company

Yes 24%

No 76%

24%

Yes No

76%

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Interpretation: On the basis of the survey done it is found out that a large
number of the respondents are having Demat Account in more than 1 company. In the above data given it is clear that among the customer of Indiabulls 24% are having account in more than 1 company.

6.Preference of company in terms of services

Indiabulls Securities Ltd. 14 58.33

Other Firms 10 41.77

60% 50%

58%

42% 40% 30% 20% 10% 0% Indiabulls Other

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Interpretation: From the last question we get to know that a good


percentage of respondents are having demat account in more than 1 company. 24% customers also having a/c except Indiabulls Securities Ltd. Among them 14 Customers (58%) prefer Indiabulls Securities Ltd. Than other firms and rest 10 Customers (42%) like or prefer other firms than Indiabulls.

7. Reasons For Opting Indiabulls

Employees Knowledge 6

Emplyoees Behavior 4 29%

Customer Service 2 14%

Technology 2 14%

43%

14% 14% 43%


Employees knowledge Em ployee behavior Custom er Service Technology

29%

Interpretation: Out of 24, 14 Customers prefer Indiabulls, 6(43%) because of Employees Knowledge, 4(29%) because of Employees Behavior, 2(14%)

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because of Customer Services, 2(14%) because of technology used by Indiabulls.

8. Reasons For Opting Other Firm In Comparision of Indiabulls securities Ltd.

Brokerage 5 % 50%

Documentation 3 30%

Employees Behavior 2 20%

20%

50%

Brokrage Documentation Employee's Behavior

30%

Interpretation: 10 customers prefer other firms than Indiabulls Securities


Ltd. Among these 10, 50%(5) prefer other firm due to high Brokerage charges
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and rest 30%(3) and 20%(2) prefer other firms because of Documentation & Employees behavior resp.

9. Faced problem with Indiabulls:

Yes 67%

No 33%

100% 50% 0%

67% Yes

33% No

Interpretaion: Regardless of various kind of services provided by the


company to its client a major portion from them (67%) have faced problem with Indiabulls and 33% of the respondent have not faced any problem.

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10.Types of Problem faced by Customer:

Fund Transfer 7 % 21

No Response from Rm 16 49

Documentation 10 30

21% 30%
Fund Transfer No response From relationship Manager Documentation

49%

INTERPRETATION: As we can be seen from the above data there are


various kind of problem which is faced like sometime fund transfer, no
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response from relationship manager, documentation. So it is duty of the company to improve these services to retain its customer.

11.Attended by company:

Yes 25 75%

No 8 25%

80% 70% 60% 50% 40% 30% 20% 10% 0% Yes No

Interpretation: After sale services to the client is very essential if a


company want its survival in current scenario. It is clear from the above data that Company solved the problem of 25(75%) clients & rest problems are not solved by company.

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12. Suggestion to other by customer to open Demat Account

Yes 70%

No 30%

70%
Yes No

30%

Interpretation:- This shows that 70% of customers are satisfied from the
companys product & services & willing to suggest other people to open a Demat Account with INDIABULLS And rest 30% are not satisfied with the Company.

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13. Company rating by customer

Excellent 11%

Very Good 28%

Good 35%

Average 22%

Poor 4%

35% 30% 25% 20% 15% 10% 5% 0% Excellent Very good 11% 28%

35%

22%

4% Good Average Poor

Interpretation:- Every respondent have his/her own criteria of rating he


company. From the data collected it is clear that the 35% customer rate the company as Good and 30% rate it as very good. A low percentage (4%) of clients rate it as poor and 11% of them has rated it as Excellent.

14. Suggestions by the Customers to Indiabulls securities Ltd.


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Messsage Alert 15%

Less opening Charges 17%

Less brokrage 43%

Give More Advices 25%

60% 40% 20% 0% 15% 17% Less Brokerage Message Alert Less opening Charges 43% 25% Give More Advices

Interpretation: There are various kind of suggestions given by the customer like they said that the company should reduce its brokerage charges and opening charges, they also said that they should also be give some message alerts and more recommendation call time to time.

HYPOTHESIS TESTING
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I have also used hypothesis and analyzed with the help of SPSS software for the further analysis of the data conducted by me.

HYPOTHESIS1- Longer the duration with the company higher the


satisfaction level of the customer

Correlation

This test shows that the above hypothesis taken is proved positive i.e. test is significant (.599) which means that there is positive relationship between duration of trading with the company and satisfaction level of customers.

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HYPOTHESIS 2 There is a significant difference on the final rating for


the Company among users who consider online terminal working conveniently or inconveniently.

T-Test

Value of significance of the above hypothesis is very high so the hypothesis is accepted.

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HYPOTHESIS 3- Higher the employee knowledge higher the satisfaction


of customer

CORRELATION

The value of significance is positive so it is clear from the test that there is a positive correlation between the employee knowledge and the satisfaction level of the customer.

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FINDINGS & RECOMMENDATIONS

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Findings
1. According to research from last six months market is down thats why among 100-sample size only 6% is with India bulls from last six months. 2. Mainly clients trade on delivery basis rather than Intraday basis as we can see in this study we found that only 10% people deal in Intraday. On the other hand around 20%-45% is deal on delivery basis due to risk constraints. 3. Main drawback of Indiabulls Securities Ltd. is high opening charges i.e. Rs. 900, high brokerage, in comparison of other brokerage firms. These points are negative for Indiabulls Securities Ltd. because These facts demoralize peoples interest towards Indiabulls. 4. Indiabulls has some positive and some negative points also due to which company lies between good and very good category in customers opinion. 5. Zero Annual Maintenance Charges and customer orders on Recording lines are the strongest point of Indiabulls Security Ltd..

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6. Power Indiabulls(PIB) is very fast software and provide many more features then browser base terminal which highly attaracts high trading customers towards Indiabulls securities Ltd. 7. 66% customers knows his/her relationship manager but rest 34% doesnt know his or her relationship manager defection ratio and increase the negative word of mount. 8. Maximum customers required update and advice from company through SMS because in daily schedule everyone doesnt get time to keep in touch with relationship manager and know about the share market.

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RECOMMENDATIONS

What I recommend firstly there should be

[1] First Aid Kit for New Entrant into Securities Market this will be a new step towards a good service provider in this field. After all, this market depends on the after sales service. After seeing such a boost in the share market, not only our Adult generation but also the young generation is also so much excited to enter the share market. Now the actual problem starts specially with the young ones in excitement initially they invests the money & due to lack of experience they loose big block of money in one go & later they blames the company about the loss. So, to make them train in the field we should provide them the initial precautions that they should take while enter into the market. The More You Care For Your Customer More The Faith Will Get Develop From Customer Side

[2] Provision for Class Room training for the new investors for the above reason same thing to boost there moral and to give them some thing related to the market will help them. Also some tips can also be given to these investor during the session as a precautions.

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[4] Update Phone numbers & address of customers through which Company or Relationship Manager could keep in contact with customers which help in deliver better services to the customers.

[5] Contact the customers who are not in touch with company or not dealing through company from some period, meet or call them on monthly basis this strategy motivates the clients to deal with company. Retain old customers is more beneficial for company inspite of making or attracting new prospects.

Note:

The recommendations which I have listed here above are strictly based on the knowledge of the securities market that I have acquired during my training of two months duration. All the recommendations are for the improvement in the functioning of the front end operations of the Indiabulls Securities Ltd. (Delhi Branch). The recommendations are purely based on the problems that I had faced as a Management Trainee.

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LIMITATIONS

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LIMITATIONS

Each & every research is subject to some limitations due to difficulties encountered in sincere efforts & this one is also not an exception to limitations. The purpose of mentioning these limitations is not to dilute the quality of the research rather to enable the reader to judge the validity of the study. Some of the limitations of the reaseach have been listed below. The first and foremost limitation was time constraint which was only 2 months but still efforts have been made to put the picture as clear as possible. Some people were not willing to disclose the investment profile .The biased ness was being taken care of. The sample size being small,it is difficult to generalize the result. The area of sample was decided after taking into consideration the major factors like Availability of Customers Approachability,
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BIBLIOGRAPHY

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BIBLIOGRAPHY

WEBSITES: www.indiabulls.com www.nseindia.com www.bseindia.com


www.wikipedia.com www.yahoo.com www.google.com

BOOKS REFFERED: Financial Management by I.M.Pandey Financial Management by Khan & Jain

JOURNALS & NEWSPAPERS: Business-Standard


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Economic Times

ANNEXURE

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ANNEXURE
Questionnaire

1. How often do you trade? a. Daily b. Weekly c. Monthly d. Occasionally

2. For how long are you dealing with Indiabulls Securities Ltd..? a). Less than 6 month c) 1 year - 2 year 3. Are you satisfied with the Company? a. Satisfied b. Partially Satisfied c. Dissatisfied b) 6 months - 1 year d) more than 2 years

4. Please rate the company on the following parameters on the scale of 1 to 5; 1 is for poor and 5 is for excellent performance 1 Employees Knowledge Brokerage Employee Behaviour Documentation Technology 5. Do you know your relationship manager? a. Yes b. No 88 2 3 4 5

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6. Are you having Demat account more than 1 company? a. Yes b. No

6. If yes, which company services you like most: a. Indiabulls Securities Ltd. b. Other_______________

7. Is the Online Terminal Working conveniently? a. Yes b. No

8. Have you faced any problem with the Indiabulls Securities Ltd.? a. Yes If yes, What was the problem: _________________________________________________________________________ _______________________________________________________________________ 9. Was your problem attended by the company? a. Yes b. No b. No

10. Would you suggest anyone to open a Demat account in this Branch? a. Yes b. No

11. How would you rate the company? 89

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a. Excellent b. Very good c. Good d. Average e. Poor 12. Any suggestions for the Company? ________________________________________ _________________________________________________________________________ _______________________________________________________________________

Personal Information (Optional)


Name: _______________________ Age: _______________________

Marital Status Married Average Income 2.5 lacs 4.5 lacs 4.5 lac 6.5 lac Unmarried

6.5 lacs 8.5 lacs

Above 8.5 lacs

~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ THANK YOU ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~

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