SUMMER TRAINING PROJECT REPORT ON Analysis of the sharetrading and demat a o!

nt "ith referen e to sharekhan pvt ltd# A re$ort s!%mitted on $artial f!lfillment for the a"ard of the degree of MASTER OF BUSINESS ADMINISTRATION 2012-14 SU&MITTE' &( AN IT !"AS RO)) NO*+ 0#1$0%0%&12'&ATC, -./-+/0 UN'ER T,E GUI'ANCE O1 MS( SURB)I MA*)OTRA 1ACU)T(2 R'IAS SU&MITTE' TO

RU MINI DE!I INSTITUTE OF AD!AN+ED STUDIES An ISO &001,200$ +ert-.-ed Inst-t/te NAA+ A00red-ted 1rade A 2Appr3ved 45 AI+TE' )RD M-n-str5' 13vt( 3. Ind-a6 A..-l-ated t3 1/r/ 134-nd S-n7h Indraprastha Un-vers-t5' Delh2A 8 2B' Madh/4an +h39k' O/ter R-n7 R3ad' :hase-1' Delh--1100$;(

STUDENT DE+*ARATION

This to ertify that I ha3e om$leted the $ro4e t titled Sharetrading in a$ital mar5et and demat a o!nt !nder the g!idan e of ms s!r%hi malhotra in the $artial f!lfillment of the re6!irement for the a"ard of the degree of Master in &!siness Administration# from R!5mini 'e3i Instit!te of Ad3an ed St!dies2 Ne" 'elhi*# This is an original "or5 and I ha3e not s!%mitted it earlier else"here*

Name 7An5it 8yas Enrollment No 7.9/:.;.;</-

ii

Certificate from Company

---

+ERTIFI+ATE 2Fr3< 1/-de6

This is to ertify that the $ro4e t titled Sharetrading in a$ital mar5et and demat a o!nt is an a ademi "or5 done %y An5it 8yas# s!%mitted in the $artial f!lfillment of the re6!irement for the a"ard of the degree of Masters in &!siness Administration# from R!5mini 'e3i Instit!te of Ad3an ed St!dies2 Ne" 'elhi*# !nder my g!idan e and dire tion* To the %est of my 5no"ledge and %elief the data and information $resented %y him in the $ro4e t has not %een s!%mitted earlier else"here*

'r*=Ms S!r%hi Malhotra >Pro4e t G!ide? R'IAS

i3

A0kn39led7<ent
It "as a great o$$ort!nity for !s to "or5 "ith Share5han )td*2 $ioneers in the field of 1inan e Ind!stry* @e are eAtremely gratef!l to all those "ho ha3e shared their eA$ertise and 5no"ledge "ith me and "itho!t "hom the om$letion of this $ro4e t "o!ld ha3e %een 3irt!ally im$ossi%le* 1irstly2 "e "o!ld li5e to than5 o!r Com$any G!ide Mr* Ra4esh Antil "ho has %een a onstant so!r e of ins$iration for !s d!ring the om$letion of this $ro4e t* ,e ga3e !s in3al!a%le in$!ts d!ring o!r endea3or to om$lete this $ro4e t*

@e are inde%ted to all staff of Share5han )td for their 3al!a%le s!$$ort and oo$eration d!ring the entire ten!re of this $ro4e t* Not to forget2 all those "ho ha3e 5e$t o!r s$irits s!rging and hel$ed deli3ering o!r %est*

@e than5 o!r fa !lty g!ide Mrs* S!r%hi Malhotra "ho hel$ed !s o!t at e3ery riti al sit!ation that @e fa ed in o!r $ro4e t and ga3e !s her 3al!a%le ad3i e to sol3e $ro%lems*

@e "ant to gi3e o!r s$e ial than5s to all mem%ers of R'AIS2 for $ro3iding !s o$$ort!nity to "or5 on this $ro4e t "ith this great organiBation* At last @e "o!ld li5e to than5 all the res$ondents met in the $re$aration2 "ho ga3e their 3al!a%le time to $ro3ide !s re6!ired information and their honest s!$$ort to om$lete o!r $ro4e t in time* ANCIT 8(AS REG* NO7.9/:.;.;</-

v E=e0/t-ve S/<<ar5 Con e$t!ally the me hanism of sto 5 mar5et is 3ery sim$le* Peo$le "ho are eA$osed to the same ris5 ome together and agree that if anyone of the $erson s!ffers a loss the other "ill share the loss and ma5e good to the $erson "ho lost*

The initial $art of the $ro4e t fo !ses on the 4o% and res$onsi%ilities I "as allotted as a s!mmer trainee* It also ma5es the readers a"are a%o!t the te hni6!es and methodology !sed to %ring this re$ort ali3e* It also des ri%e a%o!t the o%4e ti3e of this st!dy*

It also enlightens the readers a%o!t Share5han )imitedDs $rod! t and ser3i es they $ro3ide to !stomers* 1!rther the $ro4e t tells !s a%o!t the $rofile of the om$any >Share5han )td*?* It $ro3ides 5no"ledge to the readers regarding the om$anyDs history2 mission2 3ision2 !stomer %ase and the reasons to %e asso iated "ith the om$any* Also it gi3es s$e ial em$hasis on the selling of $rod! ts and management of the om$any* The neAt fe" ha$ters are de3oted to the st!dy of the 'emat a o!nt and $ro ess of o$ening it# in a 3ery %asi "ay* It also s!ggests some of the strategies that an %e a$$lied to earn more e3en "hen the mar5et is too m! h 3olatile* The neAt $art of the $ro4e t thro"s light !$on my findings and analysis a%o!t the om$any and the s!ggestions for the om$any for %etter $erforman e*

vi CERTIFICATE OF COMPLETION

This is ertify that the 1inal Pro4e t re$ort entitled 'emat A o!nt > s!%mitted S!mmer Internshi$ re$ort of the re6!irement for the degree of M&A2 is a "or5 arried o!t %y An5it 8yas2reg no+.9/:.;.;</- !nder my s!$er3ision and g!idan e*

+3<apan5 1/-de, 2MR RA?ES) ANTI*6

v--

-nde=
0hapter S/4 part 1 1(1 1(2 2 2(1 2(2 % %(1 %(2 %(% %(%(1 %(%(2 %(%(% %(%(%(1 %(%((%( 2 %(%(%(% %(%(4 %(%(4(1 %(%(4(2 %(%(; 4 Sa<pl-n7 <eth3d Meth3d 3. data 03lle0t-3n Instr/<ent 3. data 03le0t-3n Dra.t-n7 3. a A/est-3nna-re l-<-tat-3ns Anal5s-s 8 -nterpretat-3n ;$ ;&-C$ -ntr3d/0t-3n A43/t the -nd/sr5 A43/t the 03<pan5 *-terat/re rev-e9 *-terat/re rev-e9 A43/t the t3p-0 Resear0h <eth3d3l375 :/rp3se 3. the st/d5 Resear0h 34@e0t-ves 3. the st/d5 Resear0h <eth3d3l375 3. the st/d5 Resear0h des-7n Resear0h data te0hn-A/e Sa<ple des-7n p3p/lat-3n Sa<ple s-Be 1# 1# 1 10 t-tle :a7e n3(

; C

F-nd-n7s and s/77est-3ns 03n0l/s-3n 4-4l-37raph5

#1-#2 #% #4

v---

+hapter1
Intr3d/0t-3n 3. St30k Market

1(1 a43/t the -nd/str5

Indian Sto 5 Mar5ets are one of the oldest in Asia* Its history dates %a 5 to nearly -.. years ago* The earliest re ords of se !rity dealings in India are meager and o%s !re* The East India Com$any "as the dominant instit!tion in those days and %!siness in its loan se !rities !sed to %e transa ted to"ards the lose of the eighteenth ent!ry* &y /:;.Es %!siness on or$orate sto 5s and shares in &an5 and Cotton $resses too5 $la e in &om%ay* Tho!gh the trading list "as %roader in /:;<2 there "ere only half a doBen %ro5ers re ogniBed %y %an5s and mer hants d!ring /:0. and /:F.* The /:F.Es "itnessed a ra$id de3elo$ment of ommer ial enter$rise and %ro5erage %!siness attra ted many men into the field and %y /:G. the n!m%er of %ro5ers in reased into G.* In /:G.+G/ the Ameri an Ci3il @ar %ro5e o!t and otton s!$$ly from United States of E!ro$e "as sto$$edH th!s2 the EShare ManiaE in India %eg!n* The n!m%er of %ro5ers in reased to a%o!t -.. to -F.* ,o"e3er2 at the end of the Ameri an Ci3il @ar2 in /:GF2 a disastro!s sl!m$ %egan >for eAam$le2 &an5 of &om%ay Share "hi h had to! hed Rs -:F. o!ld only %e sold at Rs* :9?*

In /::92 they formally esta%lished in &om%ay2 the INati3e Share and Sto 5 &ro5ersE Asso iationI >"hi h is alternati3ely 5no"n as IThe Sto 5 EA hangeI?* In /:<F2 the Sto 5 EA hange a 6!ired a $remise in the same street and it "as ina!g!rated in /:<<* Th!s2 the Sto 5 EA hange at &om%ay "as onsolidated*

Th!s in the same "ay2 grad!ally "ith the $assage of time n!m%er of eA hanges "ere in reased and at !rrently it rea hed to the fig!re of -0 sto 5 eA hanges*

1 TRANSACTION CYCLE:

Decision to trade

Placing Order

Funds or Securities

Transaction Cycle

Trade Execution

Settlement of trades

Clearing of Trades

A $erson holding assets >Se !rities=1!nds?2 either to meet his li6!idity needs or to resh!ffle his holdings in res$onse to hanges in his $er e$tion a%o!t ris5 and ret!rn of the assets2 de ides to %!y or sell the se !rities* ,e sele ts a %ro5er and instr! ts him to $la e %!y=sell order on an eA hange* The order is on3erted to a trade as soon as it finds a mat hing sell=%!y order* At the end of the trade y le2 the trades are netted to determine the o%ligations of the trading mem%erDs se !rities=f!nds as $er settlement y le* &!yer=seller deli3ers f!nds= se !rities and re ei3es se !rities=f!nds and a 6!ires o"nershi$ of the se !rities* A se !rities transa tion y le is $resented a%o3e* J!st %e a!se of this Transa tion y le2 the "hole %!siness of Se !rities and Sto 5 &ro5ing has emerged* And as an eAtension of sto 5 %ro5ing2 the %!siness of Online Sto 5 %ro5ing= Online Trading= E+&ro5ing has emerged* At the end of the Ameri an Ci3il @ar2 the %ro5ers "ho thri3ed o!t of Ci3il @ar in /:902 fo!nd a $la e in a street >no" a$$ro$riately alled as 'alal Street? "here they "o!ld on3eniently

assem%le and transa t %!siness* In /::92 they formally esta%lished in &om%ay2 the INati3e Share and Sto 5 &ro5ersE Asso iationI >"hi h is alternati3ely 5no"n as The Sto 5 EA hange I?* In /:<F2 the Sto 5 EA hange a 6!ired a $remise in the same street and it "as ina!g!rated in /:<<* Th!s2 the Sto 5 EA hange at &om%ay "as onsolidated* )ISTOR" OF ON*INE TRADIN1,

Online thr!

sto 5 $ri3ate

trading net"or5s

is

3ery

old %y

on e$t Re!terEs

for

%ig

instit!tions and a

"ho

trade alled

o"ned

IInstinetI

system

IPositI sin e /<G<* &!t it %e omes internet %ased for lay men only in late <.s*

1!nny2 Ca$italI

that

a t!ally

idea

"as

first

time

!sed

%y

om$any

ma5ing

&eer

alled I@IT %eerI to hel$ its shareholders trade its shares* ThatDs ho" I@IT "as %orn "hi h is onsidered $ioneer of this on e$t* It "as made alled mainstream and ho!sehold name %y a offshoot of Charles S h"a% J Co in US sto 5 mar5et e3en "hen they of eS h"a%e*

eS h"a% "hi h is !sed %y millions of $eo$le in USA* )ot of NRIEs i 5no" $lay ome to India for holidays 3ia "e%site

There

are

other

serio!s

$layers

li5e

EKtrade2

'ATEC

online

et *

All

this

om$anies as5 yo! to start a o!nt "ith US LF... and yo! sto 5 !sing these f!nds* They also iss!e yo! a from yo!r sto 5 trading a o!nt* to ma5e $ayments from this a o!nt* Or !se their ATM

an %!y and sell an !se ash

he 5 %oo5 "hi h yo! ard to "ithdra"

Today

$ra ti ally

e3ery

%ig

name

%ro5erage

firm

offers

online

sto 5

trading

as it red! es their osts* Earlier they had army of %ro5ers on $hone "ith

; lients eAe !ting trade2 "hi h is done %y om$!ters a e$ting orders from

lients dire tly* This firm no" offers h!man a ess to high net "orth a o!nts2 and to rest at harge $er trade*

E- Br3k-n7 - A s<all 4e7-nn-n7,

(o! ha3e some money to da%%le "ith* Trading shares on &SE=NSE has al"ays %een yo!r dream* @hen "ill yo! e3er find the timeM And %esides2 the hassle of finding a %ro5er is not easy* RealiBing there is !nta$$ed mar5et of in3estors "ho "ant to %e a%le to eAe !te their o"n trades "hen it s!its them2 %ro5ers ha3e ta5en their trading rooms to the Internet* Cno"n as online %ro5ers2 they allo" yo! to %!y and sell shares 3ia Internet*

There are - ty$es of online trading ser3i e7 d-s03/nt 4r3kers and ./ll serv-0e 3nl-ne 4r3ker( 'is o!nt online %ro5ers allo" yo! to trade 3ia Internet at red! ed rates* Some $ro3ide 6!ality resear h2 other donDt* 1!ll ser3i e online %ro5erage is lin5ed to eAisting %ro5erages* These %ro5ers allo" their lients to $la e online orders "ith the o$tion of tal5ing= hatting to %ro5ers if ad3i e is needed* &ro5erage rates here are higher* FPaisa* om2 ICICI'ire t* om2 India&!lls* om2 Share5han* om2 Geo4it se !rities* om2 ,'1Cse * om2 Tatatd"* om2 Cota5street* om are some of the online %ro5ing sites in India* @ith Net trading in se !rities and ra$id onsolidation %et"een m!lti$le sto 5 eA hanges2 the international se !rities mar5et$la e is fast %e oming a Iglo%al 3illageI thro!gh the reation of a !ni3ersal 3irt!al e6!ity mar5et*

Com$ared to the @estern o!ntries2 online trading is still in its infan y in India* @ith trading t!rno3er at aro!nd Rs* /. rores $er day from online trading om$ared to a om%ined gross t!rno3er of aro!nd Rs* <...+/.2... rores handled %y the &SE and NSE together2 online trading has a long "ay to go*

INTERNET TRADIN1 IN INDIA, In the $ast2 in3estors had no o$tion %!t to onta t their %ro5er to get real time a ess to mar5et data* The Net %rings data to the in3estor on line and net %ro5ing ena%les him to trade on a li 5* No" information has %e ome easily a essi%le to %oth retail as "ell as %ig in3estors*

The de3elo$ment of %ro5ing in India an %e ategoriBed in ; $hases7 /* Sto 5 %ro5ers offering on their sites feat!res s! h as li3e $ortfolio manager2 li3e 6!otes2 mar5et resear h and ne"s to attra t more in3estors* -* &ro5ers offering on line %ro5ing and relationshi$ management %y $ro3iding and offering analysis and information to in3estors d!ring %ro5ing and non+%ro5ing ho!rs %ased on their $rofile and needs2 that is2 !stomiBed ser3i es* ;* &ro5ers >no" e+%ro5ers? "ill offer 3al!e management or ser3i es s! h as initial $!%li offerings on line2 asset allo ation2 $ortfolio management2 finan ial $lanning2 taA $lanning2 ins!ran e ser3i es and ena%le the in3estors to ta5e %etter and "ell+ onsidered de isions*

In the US2 :- $er ent of the deals are done on line* The E!ro$ean on line %ro5ing mar5et is eA$e ted to %e of L: %illions and is li5ely to raise fi3e fold %y -..-* In India2 $resently Internet

trading an ta5e $la e thro!gh the order ro!ting system2 "hi h "ill ro!te lient orders to eA hanges trading systems for eAe !tion of trades on sto 5 eA hanges >NSE and &SE?* This "ill also re6!ire interfa e "ith %an5s to fa ilitate instant ash de%it or redit and the de$ository system for de%it or redit of se !rities*

OB?E+TI!ES OF INTERNET TRADIN1 In rease trans$aren y in the mar5ets* Enhan e mar5et 6!ality thro!gh im$ro3ed li6!idity2 %y in reasing 6!ote ontin!ity and mar5et de$th* Red! e settlement ris5s d!e to o$en trades2 %y elimination of mismat hes* Pro3ide management information system >MIS?* F Introd! e fleAi%ility in system2 to handle gro"ing 3ol!mes easily and to s!$$ort nation"ide eA$ansion of mar5et a ti3ity* &esides2 thro!gh Internet trading three f!ndamental o%4e ti3es of se !rities reg!lation an %e easily a hie3ed2 these are7 In3estor $rote tion2 reation of a fair and effi ient mar5et and2 red! tion of the systemati ris5s* F3r<at-3n 3. the Nat-3nal St30k E=0han7e 2NSE6, @ith the li%eraliBation of the Indian e onomy2 it "as fo!nd ine3ita%le to lift the Indian sto 5 mar5et trading system on $ar "ith the international standards* On the %asis of the re ommendations of high+$o"ered Pher"ani Committee2 the National Sto 5 EA hange "as in or$orated in /<<- %y Ind!strial 'e3elo$ment &an5 of India2 Ind!strial Credit2 and In3estment Cor$oration of India2 Ind!strial 1inan e Cor$oration of India2 all Ins!ran e Cor$orations2 sele ted ommer ial %an5s and others* Trad-n7 at NSE 0an 4e 0lass-.-ed /nder t93 4r3ad 0ate73r-es:

>a? @holesale de%t mar5et and >%? Ca$ital mar5et* @holesale de%t mar5et o$erations are similar to money mar5et o$erations + instit!tions and or$orate %odies enter into high 3al!e transa tions in finan ial instr!ments s! h as go3ernment se !rities2 treas!ry %ills2 $!%li se tor !nit %onds2 ommer ial $a$er2 ertifi ate of de$osit2 et * There are t93 k-nds 3. pla5ers -n NSE, >a? Trading mem%ers and >%? Parti i$ants* G Re ogniBed mem%ers of NSE are alled trading mem%ers "ho trade on %ehalf of themsel3es and their lients* Parti i$ants in l!de trading mem%ers and large $layers li5e %an5s "ho ta5e dire t settlement res$onsi%ility* Trading at NSE ta5es $la e thro!gh a f!lly a!tomated s reen+%ased trading me hanism2 "hi h ado$ts the $rin i$le of an order+dri3en mar5et* Trading mem%ers an stay at their offi es and eAe !te the trading2 sin e they are lin5ed thro!gh a omm!ni ation net"or5* The $ri es at "hi h the %!yer and seller are "illing to transa t "ill a$$ear on the s reen* @hen the $ri es mat h the transa tion "ill %e om$leted and a onfirmation sli$ "ill %e $rinted at the offi e of the trading mem%er* NSE has several advanta7es 3ver the trad-t-3nal trad-n7 e=0han7es( The5 are as .3ll39s,

NSE %rings an integrated sto 5 mar5et trading net"or5 a ross the nation*

In3estors an trade at the same $ri e from any"here in the o!ntry sin e inter+mar5et o$erations are streamlined o!$led "ith the o!ntry"ide a ess to the se !rities*

'elays in omm!ni ation2 late $ayments and the mal$ra ti es $re3ailing in the traditional trading me hanism om$!teriBed net"or5* an %e done a"ay "ith greater o$erational effi ien y and informational trans$aren y in the sto 5 mar5et o$erations2 "ith the s!$$ort of total

Unless sto 5 mar5ets $ro3ide $rofessionaliBed ser3i e2 small in3estors and foreign in3estors "ill not %e interested in a$ital mar5et o$erations* And a$ital mar5et %eing one of the ma4or so!r es of long+term finan e for ind!strial $ro4e ts2 India annot afford to damage the a$ital mar5et $ath* In this regard NSE gains 3ital im$ortan e in the Indian a$ital mar5et system*

# Dh5 pe3ple tr/st NSEE Un4-ased, The National Sto 5 EA hange of India >NSEI)? has %een tr!sted %y the se !rities mar5ets for its !n%iased inde$enden e and $rofessionalism* The f!n tion of fore asting has %e ome more meaningf!l as the information omes from a so!r e2 "hi h is not only relia%le %!t has no 3ested interest of its o"n in the mar5et mo3ements* Market Representat-3n, NSE+MI&I'=MI&OR is %ased on rates $olled %y NSE from a re$resentati3e $anel of ;/ %an5s=instit!tions=$rimary dealers* Transparent,

The referen e rate is released to all the mar5et $arti i$ants sim!ltaneo!sly thro!gh 3ario!s media2 ma5ing it trans$arent "ith the as$iration of the mar5et* Ens!ing trans$aren y hel$s the mar5et $arti i$ants to 4!dge the mar5et mood and the $ro%a%le rate one is li5ely to en o!nter in the mar5et* This information is !sef!l not only to the %an5s %!t also to the iss!ers and in3estors* Rel-a4le, The high le3el of o+relation %et"een a t!al deals and the referen e rate gi3es an indi ation of its relia%ility* The %ootstra$$ing te hni6!e g!ards against the $ossi%ility of arteliBation and of eAtreme o%ser3ations infl!en ing the mean

S0-ent-.-0all5 +3<p/ted, : The methodology of IPollingI "ith I&ootstra$$ingI is s ientifi and the 3al!es are generated thro!gh a system that has %een eAtensi3ely tested* The te hni6!e in3ol3es generating m!lti$le data sets %ased on the rates $olled "ith a dynami ally determined n!m%er of iterations2 identifi ation of o!tliers2 trimming the data set of its eAtreme 3al!es and om$!tation of the mean and its standard de3iation* El-<-nat-3n 3. N3-se, The trimming $ro ed!re is 3!lnera%le to mar5et mani$!lation of the rates d!e to the amo!nt of sam$ling noise* EA essi3e trimming may lead to loss of information "hereas no trimming may lead to eA essi3e infl!en e of the eAtreme 3al!es* To deri3e a tr!e re$resentati3e %en hmar5 for the mar5et NSE ens!res that trimming at any $oint does not eA l!de more than -.N of the o%ser3ation for the %id and for the as5 rates* +3ns-sten05, The EA hange ens!res that e3eryday the NSE+MI&I'=MI&OR along "ith the res$e ti3e

standard de3iations are disseminated to the mar5et at .<FF >IST? for o3ernight rate and at /-/F >IST? for /0 day2 / month and ; month rates* Usa7e, The NSE+MI&I'=MI&OR rate is !sed as a %en h mar5 rate for ma4ority of deals str! 5 for Interest Rate S"a$s2 1or"ard Rate Agreements2 1loating Rate 'e%ent!res and Term 'e$osits*

1.2 about the com a!"

Sharekhan *td( is one of the leading retail sto 5 %ro5ing ho!se of SSCI Gro!$ "hi h is r!nning s! essf!lly sin e /<-- in the o!ntry* It is the retail %ro5ing arm of the M!m%ai+%ased SSCI Gro!$2 "hi h has o3er eight de ades of eA$erien e in the sto 5 %ro5ing %!siness* Share5han offers its !stomers a "ide range of e6!ity related ser3i es in l!ding trade eAe !tion on &SE2 NSE2 'eri3ati3es2 de$ository ser3i es2 online trading2 in3estment ad3i e et * The firmDs online trading and in3estment site + """*share5han* om O "as la!n hed on 1e% :2 -...* The site gi3es a ess to s!$erior ontent and transa tion fa ility to retail !stomers a ross the o!ntry* Cno"n for its 4argon+free2 in3estor friendly lang!age and high 6!ality resear h2 the site has a registered %ase of o3er one la5h !stomers* The ontent+ri h and resear h oriented $ortal has stood o!t among its ontem$oraries %e a!se of its steadfast dedi ation to offering !stomers %est+of+%reed te hnology and s!$erior mar5et information* The o%4e ti3e has %een to let !stomers ma5e informed de isions and to sim$lify the $ro ess of in3esting in sto 5s*

On A$ril /92 -..- Share5han la!n hed S$eed Trade2 a net+%ased eAe !ta%le a$$li ation that em!lates the %ro5er terminals along "ith host of other information rele3ant to the 'ay Traders* This "as for the first time that a net%ased trading station of this ali%er "as offered to the traders* In the last siA months S$eed Trade has %e ome a de facto standard for the 'ay Trading omm!nity o3er the net* Share5hanDs gro!nd net"or5 in l!des o3er ;;/ enters in /;9 ities in India "hi h $ro3ide a host of trading related ser3i es* Share5han has al"ays %elie3ed in in3esting in te hnology to %!ild its %!siness* The om$any has !sed some of the %est+5no"n names in the IT ind!stry2 li5e S!n Mi rosystems2 Ora le2 Mi rosoft2 Cam%ridge Te hnologies2 NeAgeniA2 8ignette2 8erisign 1inan ial Te hnologies India )td2 S$ider Soft"are P3t )td* To %!ild its trading engine and ontent* The Mora5hiya family holds a ma4ority sta5e in the om$any* ,S&C2 Intel J Carlyle are the other in3estors* @ith a lega y of more than :. years in the sto 5 mar5ets2 the SSCI gro!$ /. 3ent!red into instit!tional %ro5ing and or$orate finan e /: years ago* Presently SSCI is one of the leading $layers in instit!tional %ro5ing and or$orate finan e a ti3ities* SSCI holds a siBea%le $ortion of the mar5et in ea h of these segments* SSCIDs instit!tional %ro5ing arm a o!nts for 9N of the mar5et for 1oreign Instit!tional $ortfolio in3estment and FN of all 'omesti Instit!tional $ortfolio in3estment in the o!ntry* It has G. instit!tional lients s$read o3er India2 1ar East2 UC and US* 1oreign Instit!tional In3estors generate a%o!t GFN of the organiBationDs re3en!e2 "ith a daily t!rno3er of o3er USL - million* The Cor$orate 1inan e se tion has a list of 3ery $restigio!s lients and has many PfirstsD to its redit2 in terms of the siBe of deal2 se tor ta$$ed et * The gro!$ has $la ed o3er USL / %illion in $ri3ate e6!ity deals* Some of the lients in l!de &P) Cell!lar ,olding2 G!4arat Pi$a3a32 Essar2 ,!t hison2 Planetasia2 and Sho$$erDs Sto$* :ROFI*E OF T)E +OM:AN" , Na<e 3. the 03<pan5 , Share5han ltd*

"ear 3. Esta4l-sh<ent )eadA/arter

, /<-F , ShareChan SSCI A+-.G PhoeniA ,o!se PhoeniA Mills Com$o!nd )o"er Parel M!m%ai + Maharashtra2 IN'IA+ 0.../;

Nat/re 3. B/s-ness Serv-0es

, Ser3i e Pro3ider , 'e$ository Ser3i es2 Online Ser3i es and Te hni al Resear h*

N/<4er 3. E<pl35ees De4s-te Sl37an

, O3er ;F.. // , """*share5han* om , (o!r G!ide to The 1inan ial J!ngle*

A+)IE!EMENTS OF S)ARE )AN, QRRated among the to$ -. "ired om$anies along "ith Relian e2 ,UJl2 Infosys2 et %y P&!siness TodayD2 Jan!ary -..0 edition* QRA"arded PTo$ 'omesti &ro5erage ,o!seD fo!r times %y E!ro money and Asia money* QRPioneers of online trading in India amongst the to$ ; online trading "e%sites from India* Most $referred finan ial destination amongst online %ro5ing

!stomers* QR@inners of &est 1inan ial @e%site# a"ard* QRIndiaDs most $referred %ro5ers "ithin F years* A"aaB !stomers A"ard -..F#* F/t/re :lans, -2..2... $l!s retail !stomers %eing ser3i ed thro!gh entraliBed all enters= "e% sol!tions* &ran hes = Semi %ran hes ser3i ing affl!ent = aggressi3e traders thro!gh high s5ill finan ial ad3isor*

/ -F. inde$endent in3estment managers= fran hisee ser3i ing F.2... highly 3al!ed lients*

Ne" initiati3es Portfolio management Ser3i es and ommodities trading*

!-s-3n , To %e the %est retail %ro5ering &rand in the retail %!siness of sto 5 mar5et* M-ss-3n , To ed! ate and em$o"er the indi3id!al in3estor to ma5e %etter in3estment de isions thro!gh 6!ality ad3i e and s!$erior ser3i e*

Sharekhan -s -n.a0tS Among the to$ ; %randed retail ser3i e $ro3iders S No* / $layer in online %!siness S )argest net"or5 of %randed %ro5ing o!tlets in the o!ntry ser3ing more than 92..2... lients* 1et ever5th-n7 53/ need at a Sharekhan 3/tletF All yo! ha3e to do is "al5 into any of o!r C40 share sh3ps a ross 2$0 0-t-es in India to get a host of trading related ser3i es + o!r friendly !stomer ser3i e staff "ill also hel$ yo! "ith any a o!ts related 6!eries yo! may ha3e* /; A Sharekhan 3/tlet 3..ers the .3ll39-n7 serv-0es,

Online BSE and NSE executions (through BO T ! NE"T terminals# Free access to in$estment ad$ice from Share%han&s 'esearch team Share%han (alue ine (a monthly )u*lication +ith re$ie+s of recommendations, stoc%s to +atch out for etc#

Daily research re)orts and mar%et re$ie+ (-igh Noon ! Eagle Eye# Pre.mar%et 'e)ort (/orning Cu))a# Daily trading calls *ased on Technical "nalysis Cool trading )roducts (Daring Deri$ati$es and /ar%et Strategy# Personalised "d$ice

i$e /ar%et 0nformation De)ository Ser$ices1 Demat ! 'emat Transactions Deri$ati$es Trading (Futures and O)tions# Commodities Trading 0POs ! /utual Funds Distri*ution 0nternet.*ased Online Trading1 S)eedTrade REASON TO +)OOSE S)ARE )AN *IMITED E=per-en0e , SSCI has more than eight de ades of tr!st and redi%ility in the Indian sto 5 mar5et* In the Asia Money %ro5erEs $oll held re ently2 SSCI "on the GIndiaEs &est &ro5ing ,o!se for -..0 E a"ard* E3er sin e it la!n hed Share5han as its retail %ro5ing di3ision in 1e%r!ary -...2 it has %een $ro3iding instit!tionalle3el resear h and %ro5ing ser3i es to indi3id!al in3estors*

14 Te0hn3l375 , @ith its online trading a o!nt one an %!y and sell shares in an instant from any PC "ith an internet onne tion* One an get a ess to its $o"erf!l online trading tools that "ill hel$ him ta5e om$lete ontrol o3er his in3estment in shares* A00ess-4-l-t5 ,

Share5han $ro3ides A'8ICE2 E'UCATION2 TOO)S AN' ETECUTION ser3i es for in3estors* These ser3i es are a essi%le thro!gh its enters a ross the o!ntry o3er the internet >thro!gh the "e%site """*share5han* om? as "ell as o3er the 8oi e Tool* n39led7e , In a %!siness "here the right information at the right time an translate into dire t $rofits2 one an get a ess to a "ide range of information on Share5han limitedDs ontent+ri h $ortal* One an also get a !sef!l set of 5no"ledge+%ased tools that "ill em$o"er him to ta5e informed de isions*

+3nven-en0e , One an all its 'ial+N+Trade n!m%er to get in3estment ad3i e and eAe !te his transa tions* Share5han ltd* ha3e a dedi ated all+ entre to $ro3ide this ser3i e 3ia a Toll 1ree N!m%er /:..+--+9F.. J /:..+--+9.F. from any"here in India*

1; +/st3<er Serv-0e , Share5han limitedDs !stomer ser3i e team "ill assist one for any hel$ that one may re6!ire relating to transa tions2 %illing2 demat and other 6!eries* Its !stomer ser3i e an %e onta ted 3ia a toll+free n!m%er2 email or li3e hat on """*share5han* om* Invest<ent Adv-0e ,

Share5han has dedi ated resear h teams of more than ;. $eo$le for f!ndamental and te hni al resear hes* Its analysts onstantly tra 5 the $!lse of the mar5et and $ro3ide timely in3estment ad3i e to its lients in the form of daily resear h emails2 online hat2 $rinted re$orts and SMS on their mo%ile $hone* SS I 1r3/p +3<pan-es SSCI In3estor Ser3i es )td >Share 5han? S*S* Cantilal Ish"arlal Se !rities SSCI Cor$orate 1inan e I dream Prod! tions Palm s$ring estates P3t )td* 1in flo" In3estment P3t )td* I dream Prod! tion UC P3t )td* Share 5han Commodities P3t )td* /G

+hapter-2 l-terat/re rev-e9

2(1 l-terat/re rev-e9 2(2 a43/3t the t3p-0 :RODU+TS AND SER!I+ES OF S)ARE )AN *IMITED , The different ty$es of $rod! ts and ser3i es offered %y Share5han )td* are as follo"s7 E6!ity and deri3ati3es trading 'e$ository ser3i es

Online ser3i es Commodities trading 'ial+n+trade

17

Portfolio management Share sho$s 1!ndamental resear Te hni al resear h

FINAN+IA* :RODUTS A!AI*AB*E AT S)ARE )AN,

/:

SER!I+ES, Al"ays "anted hel$ on "hat the sto 5 mar5et is all a%o!tM &een "ondering a%o!t ho" all this "or5sM @ell2 yo! donEt need to fret any more + the Share5han 1irstSte$ is a %rand ne" $rogram designed es$e ially for those "ho are ne" to in3esting in shares* All yo! ha3e to do is o$en a Sharekhan F-rstStep a003/nt and "eEll g!ide yo! thro!gh the in3esting $ro ess*

SDOT ANA*"SIS Stren7ths, 0t is a )ioneer in online trading +ith a turn o$er of 's2344crores and more than 544 )eo)les +or%ing in the organi6ation2 SS70 the )arent com)any of Share 7han has more than eight decades of trust and credi*ility in the 0ndian stoc% mar%et2 0n the "sian /oney Bro%er8s )oll SS70 +on the 90ndia8s *est *ro%ing house for :443; a+ard2 Share 7han )ro$ides multi.channel access to all its customers through a strong online )resence +ith +++2share%han2com, :<4 share sho)s in 1=4 cities and a call.center *ased Dial.n.Trade facility Share 7han has dedicated research teams for fundamental and technical research2 >hich constantly trac% the )ulse of the mar%et and )ro$ide timely in$estment ad$ice free of cost to its clients +hich has a stri%e rate of ?4.54@2

1& Deakness,

ocali6ed )resence due to insufficient in$estments for country +ide ex)ansion2

ac% of a+areness among customers *ecause of non.aggressi$e )romotional strategies ()rint media, ne+s)a)ers, etc#2

esser em)hasis on customer retention2

Focuses more on -N0s than retail in$estors +hich results in meager mar%et. share as com)ared to close com)etitors2

Opp3rt/n-t-es, >ith the *ooming ca)ital mar%et it can successfully launch ne+ ser$ices and raise its client8s *ase2 0t can easily ta) the retail in$estors +ith small sa$ing through )romotional channels li%e )rint media, electronic media, etc2

"s interest on fixed de)osits +ith )ost office and *an%s are all time lo+, more and more small in$estors are entering into stoc% mar%et2

"*olition of long term ca)ital gain tax on shares and reduction in short term ca)ital gain is ma%ing stoc% mar%et as hot destination for in$estment among small in$estors2

0ncreasing usage of internet through *road*and connecti$ity may *oost a +hole ne+ *reed of in$estors for trading in securities2

20 Threats, "ggressi$e )romotional strategies *y close com)etitors may ham)er Share 7han8s acce)tance *y ne+ clients2 +here as there is no such facility in share %han2 further reduce the earnings of Share 7han /ore and more )layers are $enturing into this domain +hich can ac% of sufficient *ranch.offices for s)eedy deli$ery of ser$ices2

Other )layers are )ro$iding margin funds to in$estors on easy terms

Sha#e $ha! %emat Accou!t&

Overv-e9 3. De<at A003/nt ,

'emat a o!nt allo"s yo! to %!y2 sell and transa t shares "itho!t the endless $a$er"or5 and delays* It is also safe2 se !re and on3enient*

In India2 a de<at a003/nt2 the a%%re3iation for de<ater-al-Bed a003/nt2 is a ty$e of %an5ing a o!nt "hi h dematerialiBes $a$er+%ased $hysi al sto 5 shares* The dematerialiBed a o!nt is !sed to a3oid holding $hysi al shares7 the shares are %o!ght and sold thro!gh a sto 5 %ro5er* This a o!nt is $o$!lar in India* The Se !rities and EA hange &oard of India >SE&I? mandates a demat a o!nt for share trading a%o3e F.. shares* As of A$ril -..G2 it %e ame mandatory that any $erson holding a demat a o!nt sho!ld $ossess a Permanent A o!nt N!m%er >PAN?2 and the deadline for s!%mission of PAN details to the de$ository la$sed on Jan!ary -..9*

Is a de<at a003/nt a </stE 21 No" a day2 $ra ti ally all trades ha3e to %e settled in dematerialiBed form* Altho!gh the mar5et reg!lator2 the Se !rities and EA hange &oard of India >SE&I?2 has allo"ed trades of !$ to F.. shares to %e settled in $hysi al form2 no%ody "ants $hysi al shares any more* So a demat a o!nt is a m!st for trading and in3esting* Dh5 de<atE

The demat a o!nt red! es %ro5erage harges2 ma5es $ledging=hy$othe ation of shares easier2 ena%les 6!i 5 o"nershi$ of se !rities on settlement res!lting in in reased li6!idity2 a3oids onf!sion in the o"nershi$ title of se !rities2 and $ro3ides easy re ei$t of $!%li allotments* iss!e

It also hel$s yo! a3oid %ad deli3eries a!sed %y signat!re mismat h2 $ostal delays and loss of ertifi ates in transit* 1!rther2 it eliminates ris5s asso iated "ith forgery2 o!nterfeiting and loss d!e to fire2 theft or m!tilation* 'emat a o!nt holders an also a3oid stam$ d!ty >as against .*F $er ent $aya%le on $hysi al shares?2 a3oid filling !$ of transfer deeds2 and o%tain 6!i 5 re ei$t of s! h %enefits as sto 5 s$lits and %on!ses*

Dhat -s de<ater-al-Bat-3nE 'ematerialiBation is the $ro ess %y "hi h $hysi al ertifi ates of an in3estor are on3erted to an e6!i3alent n!m%er of se !rities in ele troni form and redited into the in3estorDs a o!nt "ith his=her 'P*

--

Dh5 DEMAT aH0 l-kes a BAN

aH0E

J!st as yo! ha3e to o$en an a= "ith a %an5 if yo! "ant to sa3e yo!r money2 ma5e he6!e $ayments et 2 yo! need to o$en a demat a= if yo! "ant to %!y or sell sto 5s* So it 4!st li5e a %an5 a= "here a t!al money re$la ed %y shares* EAam$le 7 letDs say yo!r $ortfolio has /.. of SAT(AM2 -.. of I&M and /-. of TCS shares* All these "ill sho" in yo!Dre a= * so yo! donDt ha3e to $ossess any $hysi al ertifi ate that yo! o"n these shares* They all are held ele troni ally in yo!Dre a= * Steps -nv3lved -n 3pen-n7 a de<at a003/nt ,

1irst an in3estor has to a$$roa h a 'P and fill !$ an a o!nt o$ening form* The a o!nt o$ening form m!st %e s!$$orted %y o$ies of any one of the a$$ro3ed do !ments to ser3e as $roof of identity >POI? and $roof of address >POA? as s$e ified %y SE&I* &esides2 $rod! tion of PAN

-; ard in original at the time of o$ening of a o!nt has %een made mandatory effe ti3e from A$ril ./2 de$ository $arti i$ant2 !nder his signat!re* -..G* All a$$li ants sho!ld arry original do !ments for 3erifi ation %y an a!thoriBed offi ial of the

1!rther2 the in3estor has to sign an agreement "ith 'P in a de$ository $res ri%ed standard format2 "hi h details rights and d!ties of in3estor and 'P* 'P sho!ld $ro3ide the in3estor "ith a o$y of the agreement and s hed!le of harges for their f!t!re referen e* The 'P "ill o$en the a o!nt in the system and gi3e an a o!nt n!m%er2 "hi h is also alled &O I' >&enefi iary O"ner Identifi ation n!m%er?*

The 'P may re3ise the harges %y gi3ing ;. days noti e in ad3an e* SE&I has rationaliBed the ost str! t!re for dematerialiBation %y remo3ing a o!nt o$ening harges2 transa tion harges for redit of se !rities2 and !stody harges 3ide ir !lar dated Jan!ary -:2 -..F*

1!rther2 SE&I has 3ide ir !lar dated No3em%er .<2 -..F ad3ised that "ith effe t from Jan!ary .<2 -..G2 no harges shall %e le3ied %y a de$ository on 'P and onse6!ently2 %y a 'P on a &enefi iary O"ner >&O? "hen a &O transfers all the se !rities lying in his a o!nt to another %ran h of the same 'P or to another 'P of the same de$ository or another de$ository2 $ro3ided the &O A o!nt=s at transferee 'P and at transferor 'P are one and the same2 i*e* identi al in all res$e ts*

In ase the &O A o!nt at transferor 'P is a 4oint a o!nt2 the &O A o!nt at transferee 'P sho!ld also %e a 4oint a o!nt in the same se6!en e of o"nershi$*

R-7hts, /* (o! an o$en more than one de$ository a o!nt in the same name "ith single 'P= m!lti$le 'Ps*

-*

No minim!m %alan e is re6!ired to %e maintained in a de$ository a o!nt* -0

;*

(o! an gi3e a onetime standing instr! tion to yo!r 'P to re ei3e all the redits oming to yo!r de$ository a o!nt a!tomati ally*

DEMAT Bene.-tsE A safe and on3enient "ay to hold se !rities* immediate transfer of se !rities* No stam$ d!ty on transfer of se !rities>.*F N on $hysi al shares?* Elimination of ris5s asso iated "ith $hysi al ertifi ates s! h as %ad deli3ery2 fa5e se !rities 2 delays 2 theft et * Red! tion in $a$er "or5* Red! tion in transa tion ost* No odd lot $ro%lem 2 e3en one share an %e sold* Nomination fa ility* ,olding in3estment in e6!ity and de%t instr!ments in a single a o!nt*et *

DEMAT +3nvers-3n 7+ /* S!rrender the ertifi ates of $hysi al shares for dematerialiBation to yo!r de$ository $arti i$ants* -* 'e$ository $arti i$ant intimates de$ository of the re6!est thro!gh the system* -F ;* 'e$ository $arti i$ant s!%mit the ertifi ates to the registrar to the iss!er om$any*

0* Registrar onfirms the dematerialiBation re6!est from de$ository* F* After dematerialiBing the ertifi ates2 registrar !$dates a o!nts and informs de$ository of the om$letion of dematerialiBation* G* 'e$ository !$dates its a o!nts and informs the de$ository $arti i$ant* 9* 'e$ository $arti i$ant !$dates demat a= of the in3estor*

Dhat -s a Dep3s-t3r5E A de$ository is an organisation "hi h holds se !rities of in3estors in ele troni form at the re6!est of the in3estors thro!gh a registered 'e$ository Parti i$ant* It also $ro3ides ser3i es related to transa tions in se !rities* SEBI re7-stered dep3s-t3r5Is ,NS') 7+ National se !rities de$ository limited C'S) 7+ Central de$ository ser3i es limited Minim!m net "orth re6!ired for a de$ository is /.. rores NSD*, Altho!gh India had a 3i%rant a$ital mar5et2 "hi h is more than a ent!ry old2 the $a$er+ %ased settlement of trades a!sed s!%stantial $ro%lems li5e %ad deli3ery and delayed transfer of title till re ently* The ena tment of 'e$ositories A t in A!g!st /<<G $a3ed the "ay for esta%lishment of NS')2 the first de$ository in India* This de$ository $romoted %y instit!tions of

-G

national stat!re res$onsi%le for e onomi de3elo$ment of the o!ntry has sin e esta%lished a national infrastr! t!re of international standard that handles most of the trading and settlement in dematerialiBed form in Indian a$ital mar5et* Using inno3ati3e and fleAi%le te hnology systems2 NS') "or5s to s!$$ort the in3estors and %ro5ers in the a$ital mar5et of the o!ntry* NS') aims at ens!ring the safety and so!ndness of Indian mar5et$la es %y de3elo$ing settlement sol!tions that in rease effi ien y2 minimiBe ris5 and red! e osts* At NS')2 "e $lay a 6!iet %!t entral role in de3elo$ing $rod! ts and ser3i es that "ill ontin!e to n!rt!re the gro"ing needs of the finan ial ser3i es ind!stry*

In the de$ository system2 se !rities are held in de$ository a o!nts2 "hi h is more or less similar to holding f!nds in %an5 a o!nts* Transfer of o"nershi$ of se !rities is done thro!gh sim$le a o!nt transfers* This method does a"ay "ith all the ris5s and hassles normally asso iated "ith $a$er"or5* Conse6!ently2 the ost of transa ting in a de$ository en3ironment is onsidera%ly lo"er as om$ared to transa ting in ertifi ates* DE:OSITOR" :ARTI+I:ANTS, A 'e$ository Parti i$ant >'P? is des ri%ed as an agent of the de$ository* They are the intermediaries %et"een the de$ository and the in3estors* The relationshi$ %et"een the 'Ps and the de$ository is go3erned %y an agreement made %et"een the t"o !nder the 'e$ositories A t* In a stri tly legal sense2 a 'P is an entity that is registered as s! h "ith SE&I !nder the $ro3isions of the SE&I A t* As $er the $ro3isions of this A t2 a 'P an offer de$ository+related ser3i es only after o%taining a ertifi ate of registration from SE&I* SE&I >'JP? Reg!lations2 /<<G $res ri%e a minim!m net "orth of Rs*F. la5h for sto 5%ro5ers2 RJT agents and non+%an5ing finan e om$anies >N&1C?2 for granting them a ertifi ate of registration to a t as 'Ps* If a sto 5%ro5er see5s to a t as a 'P in more than one de$ository2 he sho!ld om$ly "ith the s$e ified net "orth riterion se$arately for ea h s! h de$ository* No minim!m net "orth riterion has %een $res ri%ed for other ategories of 'Ps* ,o"e3er2 de$ositories an fiA a higher net "orth riterion for their 'Ps* NS') re6!ires a minim!m net "orth of Rs*/.. la5h to %e eligi%le to %e ome a 'P as against Rs*F. la5h $res ri%ed %y SE&I >'JP? Reg!lations* 2#

Instr/<ents , The hanges in the reg!latory frame"or5 of the a$ital mar5et and fis al $oli ies ha3e also res!lted in ne"er 5inds of finan ial instr!ments >se !rities? %eing introd! ed in the mar5et* Also2 a lot of finan ial inno3ation %y om$anies "ho are no" $ermitted to !nderta5e treas!ry o$erations has res!lted in ne"er 5inds of instr!ments + all of "hi h an %e traded O %eing introd! ed* The 3ariations in all these instr!ments de$end on the ten!re2 the nat!re of se !rity2 the interest rate2 the ollateral se !rity offered and the trading feat!res2 et 'e%ent!res

&onds

Preferen e Share

E6!ity Shares

Go3ernment se !rities

Ca$ital Mar5et Pro esses

Initial P!%li Offering >IPO?

Pri3ate Pla ement

Preferential Offer=Rights Iss!e

Pri3ate Pla ement

Bene.-ts 3. Dep3s-t3r5 S5ste<, 2$

In the de$ository system2 the o"nershi$ and transfer of se !rities ta5es $la e %y means of ele troni %oo5 entries* At the o!tset2 this system rids the a$ital mar5et of the dangers related to handling of $a$er* NS') $ro3ides n!mero!s dire t and indire t %enefits2 li5e7 U El-<-nat-3n 3. 4ad del-ver-es In the de$ository en3ironment2 on e holdings of an in3estor are dematerialiBed2 the 6!estion of %ad deli3ery does not arise i*e* they annot %e held I!nder o%4e tionI* In the $hysi al en3ironment2 %!yer "as re6!ired to ta5e the ris5 of transfer and fa e !n ertainty of the 6!ality of assets $!r hased* In a de$ository en3ironment good money ertainly %egets good 6!ality of assets* U El-<-nat-3n 3. all r-sks ass30-ated 9-th ph5s-0al 0ert-.-0ates 'ealing in $hysi al se !rities ha3e asso iated se !rity ris5s of theft of sto 5s2 m!tilation of ertifi ates2 loss of ertifi ates d!ring mo3ements thro!gh and from the registrars2 th!s eA$osing the in3estor to the ost of o%taining d!$li ate ertifi ates and ad3ertisements2 et * This $ro%lem does not arise in the de$ository en3ironment* U N3 sta<p d/t5 1or transfer of any 5ind of se !rities in the de$ository* This "ai3er eAtends to e6!ity shares2 de%t instr!ments and !nits of m!t!al f!nds* U I<<ed-ate trans.er and re7-strat-3n 3. Se0/r-t-es In the de$ository en3ironment2 on e the se !rities are redited to the in3estors a o!nt on $ay o!t2 he %e omes the legal o"ner of the se !rities*

-<

There is no f!rther need to send it to the om$anyEs registrar for registration* ,a3ing $!r hased se !rities in the $hysi al en3ironment2 the in3estor has to send it to the om$anyEs registrar so that the hange of o"nershi$ an %e registered* This $ro ess !s!ally ta5es aro!nd three to fo!r months and is rarely om$leted "ithin the stat!tory frame"or5 of t"o months th!s eA$osing the in3estor to o$$ort!nity ost of delay in transfer and to ris5 of loss in transit* To o3er ome this2 the normally a e$ted $ra ti e is to hold the se !rities in street names i*e* not to register the hange of o"nershi$* ,o"e3er2 if the in3estors miss a %oo5 los!re the se !rities are not good for deli3ery and the in3estor "o!ld also stand to loose his or$orate entitlements* Faster settle<ent 050le The eA l!si3e demat segments follo" rolling settlement y le of TV- i*e* the settlement of trades "ill %e on the -nd "or5ing day from the trade day* This "ill ena%le faster t!rno3er of sto 5 and more li6!idity "ith the in3estor* U Faster d-s4/rse<ent 3. n3n-0ash 03rp3rate 4ene.-ts l-ke r-7hts' 43n/s' et0( NS') $ro3ides for dire t redit of non+ ash or$orate entitlements to an in3estors a o!nt2 there%y ens!ring faster dis%!rsement and a3oiding ris5 of loss of ertifi ates in transit* U Red/0t-3n -n 4r3kera7e 45 <an5 4r3kers .3r trad-n7 -n de<ater-al-Bed se0/r-t-es &ro5ers $ro3ide this %enefit to in3estors as dealing in dematerialiBed se !rities red! es their %a 5 offi e ost of handling $a$er and also eliminates the ris5 of %eing the introd! ing %ro5er* ;.

T":ES OF A++OUNT IN S)ARE )AN *IMITED , Share5han offers t"o ty$es of trading a o!nt for its lients 7 Classi A o!nt >"hi h in l!de a feat!re 5no"n as 1ast Trade Ad3an ed Classi A o!nt for the online !sers? and Trade Tiger A o!nt

%1

+*ASSI+ A++OUNT , This is a User 1riendly Prod! t "hi h allo"s the lient to trade thro!gh "e%site

"""*share5han* om and is s!ita%le for the retail in3estor "ho is ris5+a3erse and hen e $refers to in3est in sto 5s or "ho does not trade too fre6!ently* This a o!nt allo" in3estors to %!y and sell sto 5s online along "ith the follo"ing feat!res li5e m!lti$le "at h lists2 Integrated &an5ing2 'emat and digital ontra ts2 Real+time $ortfolio tra 5ing "ith $ri e alerts and Instant redit J transfer* Th-s a003/nt 03<es 9-th the .3ll39-n7 .eat/res, a* Online trading a o!nt for in3esting in E6!ities and 'eri3ati3es %* 1ree trading thro!gh Phone >'ial+n+Trade?7 I*T"o dedi ated n!m%ers>/:..+--+9F.. and ;<9.9F..? for $la ing the orders !sing ell $hones or landline $hones II* A!tomati f!nds transfer "ith $hone %an5ing fa ilities >for Citi%an5 and ,'1C %an5 !stomers? III* Sim$le and Se !re Intera ti3e 8oi e Res$onse %ased system for a!thenti ation I8* get the tr!sted2 $rofessional ad3i e of Share5han limitedDs Tele &ro5ers 8* After ho!rs order $la ement fa ility %et"een :*.. am and <*;. am * Integration of7 Online Trading V 'emat A o!nt V Cash to Margin* d* Instant ash transfer fa ility against $!r hase J sale of shares* ;-

e* IPO in3estments* f* Instant order and trade onfirmations %y e+mail* g* Single s reen interfa e for ash and deri3ati3es* TRADE TI1ER A++OUNT, This is an internet+%ased soft"are a$$li ation2 "hi h ena%les one to %!y and sell in an instant* It is ideal for a ti3e traders and 4o%%ers "ho transa t fre6!ently d!ring dayDs session to a$italiBe on intra+day $ri e mo3ement* Th-s a003/nt 03<es 9-th the .3ll39-n7 .eat/res, a* Instant order EAe !tion and Confirmation* %* Single s reen trading terminal for NSE Cash2 NSE 1JO J &SE* * Te hni al St!dies* d* M!lti$le Charting* e* Real+time streaming 6!otes2 ti +%y+ti harts*

f* Mar5et s!mmary >Cost traded s ri$2 highest 3al!e et *? g* ,ot 5eys similar to %ro5erDs terminal* h* Alerts and reminders*

;;

i* &a 5+!$ fa ility to $la e trades on 'ire t Phone lines* 4* )i3e mar5et de%ts* +)AR1E STRU+TURE , Fee str/0t/re .3r 1eneral Ind-v-d/al, +har7es A003/nt Open-n7 Br3kera7e +lass-0 A003/nt Nil Intra O day O .*/.N 'eli3ery O .*F.N Trade T-7er A003/nt Nil Intra O day O .*/.N 'eli3ery O .*F.N

BRO ARA1E,

It is the harge ta5en %y the g!iding om$any for hel$ing yo! in %!ying and selling yo!r shares* There are different harges for Intraday and 'eli3ery*

INTRADA",

The day to day %!ying and selling or daily transa tions are alled as Intraday* (o! ha3e to %!y or sell the shares "ithin the day only*

DE*I!ER",

It is the three day transa tion* The day yo! %!y the share and the neAt t"o days after that day is alled as 'eli3ery* It in l!des thre days* If yo! are %!ying any share then yo! ha3e to sell it "ithin three days in l!ding the %!ying day*

TV- W Today V - days %4 Dep3s-t3r5 +har7es, A003/nt Open-n7 +har7es Ann/al Ma-ntenan0e +har7es Nil /st (ear Nil -nd (ear 0/F=+

:RE:AID A++OUNT,

There are three ty$es of Pre$aid a o!nt are $ro3ided to the !stomers a ordingly they ma5e transa tions more and more* All Pre$aid a o!nts are 3alid for One year only*

S0he<e 3. :repa-d Br3kera7e , :repa-d Br3kera7e 2p(a6 +ash F/t/res and Opt-3ns F/t/res -...=+ Intra+day O .*.9N>Single 0(0# Side? G...=+ 'eli3ery O .*0.N Intra+day O .*.FN 'eli3ery O .*-FN 0(0; Opt-3ns 2J 3r Rs(&0'

9h-0hever -s h-7her 1(;J 3r Rs(#;'

9h-0hever -s h-7her

/:...=+

Intra+day O .*.0N 'eli3ery O .*-.N

0(04

1J

3r

Rs(;0'

9h-0hever -s h-7her

EK:OSURE,

Share5han also hel$s their !stomers %y $ro3iding them a 1o!r time EA$os!re* EAam$le 7+ If a !stomer in3ests Rs* -....2 then he "ill get a eA$os!re of 0 times of Rs* -.... that means Rs* -.... K 0 W Rs* /.....* ;F &!t only for 1i3e days2 "ithin F days the !stomer ha3e to $ay %a 5 the amo!nt other"is" they "ill sell yo!r shares* &!t yes2 they "ill sell the loss am5ing shares first* If yo! ma5e any frod 2 then also yo! may fa e the sane $ro%lem*

&!t EA$os!re al"ays hel$s the !stomer to in3est more and more in $rofit ma5ing s ri$ts* It is li5e an O3erdraft "hi h yo! ha3e to ret!rn "ithin F days*

)OD TO O:EN AN A++OUNT DIT) S)ARE *IMITED E

)AN

1or online trading "ith Share5han )td*2 in3estor has to o$en an a o!nt* 1ollo"ing are the "ays to o$en an a o!nt "ith Share5han )td*7 One need to all them at $hone n!m%er $ro3ided %elo" and as5s that he "ant to o$en an a o!nt "ith them* a* One an all on the Toll 1ree N!m%er7 /+:..+--+9F.. to s$ea5 to a C!stomer Ser3i e eAe !ti3e %* Or If one stays in M!m%ai2 he an all on .--+GGG-////

One an 3isit any one of Share5han )imitedDs nearest %ran hes* Share5han has a h!ge net"or5 all o3er India >G0. enters in -:. ities?* One an also log on to htt$7==share5han* om=)o ate!s*as$A# lin5 to find o!t the nearest %ran h* One an send them an email at infoXshare5han* om to 5no" a%o!t their $rod! ts and ser3i es*

;G One an also 3isit the site """*share5han* om and li 5 on the o$tion O$en an A o!nt# to fill a small 6!ery form "hi h "ill as5 the indi3id!al to gi3e details regarding his name2 ity he li3es in2 his email address2 $hone n!m%er2 $in ode of the ity2 his nearest Share5han )td* sho$ and his $referen es regarding the ty$e of a o!nt he "ants* These information are om$iled in the head6!arter of the om$any that is in M!m%ai from "here it is distri%!ted thro!gh o!t the o!ntryDs %ran hes in the form of leads on the %asis of ities and nearest share sho$s* After that the eAe !ti3es of the res$e ti3e %ran hes onta t the $ros$e ti3e lients o3er $hone or thro!gh email and gi3e them information regarding the 3ario!s ty$es of a o!nts and the do !ments they need to o$en an a o!nt and then fiA a$$ointment "ith the $ros$e ti3e lients to gi3e them demonstration and ma5ing them !ndergo the formalities to o$en the a o!nt* After that the forms that has olle ted from the lients2 is s r!tiniBed in the %ran h and then it is sent to M!m%ai for f!rther $ro essing "here after a fe" days the lientsD a o!nt are generated and a ti3ated* After the a o!nts are a ti3ated2 a @el ome Cit is dis$at hed from M!m%ai to the lientsD address mentioned in the do !ments $ro3ided %y them* As soon as the lients re ei3e the @el ome Cit2 "hi h ontains the lientsD Trading I' and Trading Pass"ord2 they an start trading and in3esting in shares*

A$art from t"o $ass$ort siBe $hotogra$hs2 one needs to $ro3ide "ith the follo"ing do !ments in order to o$en an a o!nt "ith Share5han )imited*7 Photo o$y of the lientsD PAN Card "hi h sho!ld %e d!ly atta hed Photo o$y of any of the follo"ing do !ments d!ly atta hed "hi h "ill ser3e as orres$onden e address $roof7 a* Pass$ort >3alid? %* 8oterDs I' Card ;9 * Ration Card d* 'ri3ing )i ense >3alid?

e* Ele tri ity &ill >sho!ld %e latest and sho!ld %e in the name of the lient? f* Tele$hone &ill >sho!ld %e latest and sho!ld %e in the name of the lient?

g* 1lat Maintenan e &ill >sho!ld %e latest and sho!ld %e in the name of the lient? h* Ins!ran e Poli y >sho!ld %e latest and sho!ld %e in the name of the lient? i* )ease or Rent Agreement* 4* Sa3ing &an5 StatementKK >sho!ld %e latest? T"o he6!es dra"n in fa3o!r of Shar5han )imited2 one for the A o!nt

O$ening 1ees and the other for the Margin Money >the minim!m margin money is Rs* F...?* KK A an elled he6!e sho!ld %e gi3en %y the lient if he $ro3ides Sa3ing &an5 Statement as a $roof for orres$onden e address* NOTE7 Only Sa3ing &an5 A o!nt he6!es are a e$ted for the $!r$ose of O$ening an a o!nt* 1enerall5 the pr30ess 3. 3pen-n7 an a003/nt .3ll39s the .3ll39-n7 steps,

%$

)EA' MANAGEMENT S(STEM >)MS? = RE1ERENCES

CONTACT T,E PERSON O8ER P,ONE OR T,ROUG, EMAI)

1ITING AN APPOINTMENT @IT, T,E PERSON

"ES

GI8ING 'EMONSTRATION

NO

'OCUMENTATION

1I))ING UP T,E 1ORM

;<

SU&MISSION O1 T,E 1ORM

)OGIN O1 T,E 1ORM

SEN'ING ACCOUNT OPENING CIT TO T,E C)IENT TRA'ING

Sharekhan De<at A003/nt Serv-0es , Share5han O Transa ting and in3esting sim$lified* Get ready to hange the "ay yo! transa t and in3est in finan ial $rod! ts and ser3i es* @hether yo! "ish to transa t in e6!ity2 e6!ity J ommodity deri3ati3es2 IPODs offshore in3estments or $refer to in3est in m!t!al f!nds2 life J general ins!ran e $rod! ts or a3ail money transfer and money hanging ser3i es2 yo! an do it

all thro!gh Angel* Sim$ly o$en a Angel a o!nt and en4oy the on3enien e of handling all yo!r 5ey finan ial transa tions thro!gh this one "indo"* Bene.-ts 3. hav-n7 an Sharekhan a003/nt, L ItIs 03st e..e0t-ve (o! $ay om$arati3ely lo"er transa tion fees* As an Introd! tory offer2 "e in3ite yo! to $ay a flat fee of 4!st Rs* 9F.=+ and transa t thro!gh Share5han* L Its 3..ers s-n7le M Thro!gh Share5hanDs asso iates2 yo! an transa t in e6!ity2 e6!ity and ommodities

deri3ati3es2 offshore in3estments m!t!al f!nds2 IPODs life ins!ran e2 general ins!ran e2 money transfer2 money hanging and redit ards2 amongst others* 40 L Its 03nven-ent (o! an a ess Share5hanDs ser3i es thro!gh SThe internet STransa tion 5ios5s SThe $hone > all J transa t? SO!r all O India net"or5 of asso iates on an assisted trade* Its Sa.e 53/r a o!nt is safeg!arded "ith a !ni6!e se !rity n!m%er that hanges e3ery ;se onds* This n!m%er "or5s as a dynami s $ass"ord to 5ee$ yo!r a o!nt eAtra safe* It pr3v-de 53/ val/e- added serv-0es at """*share5han* om ' 53/ 7et S Relia%le resear h2 in l!ding 3ie"s of eAternal eA$erts "ith an en3ia%le tra 5 re ord

S )i3e ne"s !$dates from Re!ters and 'o" Jones S CEODs = eA$ert 3ie"s on the e onomy and finan ial mar5ets S Tools that hel$ yo! $lan yo!r in3estments2 taA2 retirement2 et * in the $ersonal finan e se tion S Ris5 AnalyBer for analysis of yo!r ris5 $rofile S Asset allo ators to %!ild an a$$ro$riate in3estment $ortfolio S Inno3ati3e !se of te hnology for fa ilitating

41 The 4ene.-ts,Bene.-ts 3. De<at A003/nt S A safe and on3enient "ay to hold se !ritiesH S Immediate transfer of se !ritiesH S No stam$ d!ty on transfer of se !ritiesH S Elimination of ris5s asso iated "ith $hysi al ertifi ates s! h as %ad deli3ery2 fa5e se !rities2 delays2 thefts et *H S Red! tion in $a$er"or5 in3ol3ed in transfer of se !ritiesH S Red! tion in transa tion ostH S No odd lot $ro%lem2 e3en one share an %e soldH S Nomination fa ilityH

S Change in address re orded "ith 'P gets registered "ith all om$anies in "hi h in3estor holds se !rities ele troni ally eliminating the need to orres$ond "ith ea h of them se$aratelyH S Transmission of se !rities is done %y 'P eliminating Corres$onden e "ith om$aniesH S A!tomati et * S ,olding in3estments in e6!ity and de%t instr!ments in a single a o!nt* Bene.-t F3r Invest3rs 'emat a o!nt has %e ome a ne essity for all ategories of in3estors for the follo"ing reasons= %enefits7 redit into demat a o!nt of shares2 arising o!t of %on!s=s$lit= onsolidation=merger

0 QRSE&I has made it om$!lsory for trades in almost all s ri$Ds to %e settled in 'emat mode* Altho!gh2 trades !$ to F.. shares an %e settled in $hysi al form2 $hysi al settlement is 3irt!ally not ta5ing $la e for the a$$rehension of %ad deli3ery on

QRa o!nt of mismat h of signat!res2 forgery of signat!res2 fa5e ertifi ates2 et *

QRIt is a safe and on3enient "ay to hold se !rities om$ared to holding se !rities in $hysi al form**

QRNo stam$ d!ty is le3ied on transfer of se !rities held in 'emat form*

QRInstantaneo!s transfer of se !rities enhan es li6!idity*

QRIt eliminates delays2 thefts2 inter e$tions and s!%se6!ent mis!se of ertifi ate

B/5-n7 and Sell-n7 3. De<ater-al-Bat-3n

INTRODU+TION, The $ro ed!re for %!ying and selling dematerialiBed se !rities is similar to the $ro ed!re for %!ying and selling $hysi al se !rities* The differen e lies in the $ro ess of deli3ery >in ase of sale? and re ei$t >in ase of $!r hase? of se !rities*

In 0ase 3. p/r0hase,

The %ro5er "ill re ei3e the se !rities in his a o!nt on the $ayo!t day*

0; The %ro5er "ill gi3e instr! tion to its 'P to de%it his a o!nt and redit in3estorDs a o!nt*

In3estor "ill gi3e PRe ei$t Instr! tion to 'P for re ei3ing redit %y filling a$$ro$riate form* ,o"e3er one an gi3e standing instr! tion for redit in to ones a o!nts that "ill o%3iate the need of gi3ing Re ei$t Instr! tion e3ery time*

In 0ase 3. sale,-

The in3estor "ill gi3e deli3ery instr! tion to 'P to de%it his a o!nt and redit the %ro5erDs a o!nt* S! h instr! tion sho!ld rea h the 'PDs offi e at least -0 ho!rs %efore the $ay+in as other"ise 'P "ill a e$t the instr! tion only at the in3estorDs ris5*

R-7hts /* 'ematerialiBed se !rities an %e traded on those sto 5 eA hanges onne ted to NS')* At $resent2 NSE2 &SE2 CSE2 'SE2 )SE2 &GSE2 OTCEI2 MSE2 ISE J ASE are onne ted to NS')* At these sto 5 eA hanges2 t"o segments "o!ld %e a3aila%le to trade in dematerialiBed se !rities 7

Un-.-ed 2erst9h-le ph5s-0al6 se7<ent + In this segment deli3ery o%ligation an %e met %y deli3ering dematerialiBed or $hysi al se !rities at the o$tion of the seller* ,o"e3er2 for a sele t list of se !rities $res ri%ed %y SE&I2 se !rities annot %e deli3ered in $hysi al form in the !nified segment2 of sto 5 eA hanges onne ted to NS')* This list $resently o3ers /G. se !rities* This list has %een eA$anded to o3er a total of -.. se !rities "ith effe t from Jan!ary /92 -...* O3er a $eriod2 this list "o!ld o3er all a ti3ely traded se !rities*

00
o

E=0l/s-ve de<at se7<ent + In this segment deli3ery o%ligation an %e met %y deli3ering dematerialiBed se !rities only* Physi al se !rities annot %e deli3ered in the eA l!si3e demat segment*

:r30ed/re

Trading in dematerialiBed se !rities is done thro!gh yo!r %ro5er 4!st li5e trading in $hysi al se !rities* After yo!r %ro5er eAe !tes the trade2 yo!r 'P "ill hel$ to deli3er shares to yo!r %ro5er >in ase yo! sell? on the %asis of 3alid instr! tion gi3en %y yo! to yo!r 'P and re ei3e shares from yo!r %ro5er >in ase yo! %!y? on %asis of 3alid instr! tion gi3en %y yo!r %ro5er to his 'P*

B/5 de<ater-al-Bed se0/r-t-es /* (o! $!r hase se !rities in any of the sto 5 eA hanges onne ted to NS') thro!gh a %ro5er of yo!r hoi e and ma5e $ayment to yo!r %ro5er* Ma5e s!re yo! tell yo!r %ro5er yo! "ant only demat shares*

-*

&ro5er arranges $ayment to learing or$oration= learing ho!se of the sto 5 eA hange*

;*

&ro5er re ei3es redit in his learing a o!nt "ith his 'P on the $ay+o!t day* ,e an immediately transfer these se !rities to yo!r de$ository a o!nt2 $ro3ided yo!r a o!nt is already a ti3e*

0*

&ro5er gi3es instr! tions to his 'P to de%it his de$ository a o!nt*

learing a o!nt and

redit yo!r

F*

(o! gi3e instr! tion to yo!r 'P for re ei3ing redit in yo!r de$ository a o!nt* If yo! ha3e gi3en standing instr! tion to re ei3e redits2 no se$arate instr! tion for re ei3ing redit "ill %e re6!ired*

0F G*If the instr! tions mat h2 yo!r a o!nt "ith yo!r 'P is redited* Sell de<ater-al-Bed se0/r-t-es /* (o! sell yo!r dematerialiBed se !rities in any of the sto 5 eA hanges lin5ed to NS') thro!gh a %ro5er of yo!r hoi e*

-*

(o! gi3e instr! tion to yo!r 'P for de%it of yo!r de$ository a o!nt and redit of yo!r %ro5ers learing mem%er a o!nt at least -0 ho!rs i*e* one "or5ing day $rior to the $ay+in date or %efore the deadline $res ri%ed %y yo!r 'P2 so that yo!r %ro5ers learing a o!nt is redited at the time arranged "ith him*

;*

On the $ay+in day2 yo!r %ro5er gi3es instr! tion to his 'P for deli3ery to learing or$oration= learing ho!se of the rele3ant sto 5 eA hange*

0*

The %ro5er re ei3es $ayment from the learing or$oration = learing ho!se*

F*

(o! re ei3e $ayment from the %ro5er for the sale in the same manner yo! "o!ld re ei3e $ayment for a sale in the $hysi al mode*

:3-nts T3 Re<e<4er /* Trading ontin!es to %e thro!gh %ro5ers* In ase of any $ro%lem in eAe !tion of trade2 onta t yo!r %ro5er and if he fails to resol3e the $ro%lem yo! may onta t the sto 5 eA hange*

-*

@hen yo! %!y se !rities thro!gh the sto 5 eA hange2 yo!r %ro5ers learing a o!nt is redited to the eAtent of the se !rities $!r hased2 on re ei$t of instr! tion from learing or$oration= learing ho!se of the sto 5 eA hange* (o!r de$ository a o!nt is redited only "hen yo!r %ro5er gi3es a deli3ery instr! tion to his 'P* Se !rities are not dire tly redited

0G ;* to yo!r a o!nt %y the learing or$oration= learing ho!se of the sto 5 eA hange* In ase yo!r %ro5er does not gi3e a deli3ery instr! tion2 onta t him or on erned sto 5 eA hange or SE&I* If yo!r de$ository a o!nt is not redited2 in s$ite of yo!r %ro5er gi3ing 3alid instr! tion to his 'P2 onta t the 'P and if he fails to resol3e the same yo! may onta t NS')*

0*

@hen yo! sell se !rities2 yo! ha3e to gi3e a deli3ery instr! tion to yo!r 'P to transfer the se !rities to yo!r %ro5ers learing a o!nt* They are not a!tomati ally de%ited from yo!r a o!nt %y NS') or %y the learing or$oration= learing ho!se of the sto 5 eA hange* In ase the 'P defa!lts in eAe !ting yo!r instr! tion2 the 'P is lia%le to om$ensate yo! for the loss in !rred2 $ro3ided yo!r instr! tion "as in order and has %een s!%mitted to the 'P at least -0 ho!rs i*e* one "or5ing day $rior to the $ay+in date or %efore the deadline $res ri%ed %y 'P* In ase the 'P fails to resol3e yo!r $ro%lem2 yo! an onta t NS')*

Need .3r the St/d5

The need of the st!dy arises %e a!se of the reason that a trainee m!st !nderstand the om$any2 its a hie3ements and tas5s2 $rod! ts and ser3i es and also to olle t information a%o!t its om$etitors2 its $rod! ts and ser3i es offered* So that2 after !nderstanding and olle ting information a%o!t the organiBation and its om$etitors2 a trainee "ill %e a%le to "or5 "ell for the organiBation* 1rom the st!dy "e ha3e learned 3ery m! h2 a%o!t the om$any as "ell as the strategy of the !stomers2 "hi h hel$s !s a lot at o!r "or5ing days* OB?E+TI!E The primary objective is: Che 5ing the a"areness le3el of online share trading* 09 E3al!ation of $referred in3estments in 3ario!s mode and ind!stry* To olle t the real time information a%o!t $referen e le3el of !stomers !sing 'emat a o!nt and their in lination to"ards 3ario!s other %ro5erage firms e*g* India %!lls2 Angel %ro5ing2 India infoline2 Religare2 Alan+ 5it2 Uni on*

 To eA$and the mar5et $enetration of Share5han ltd* To $ro3ide $ri ing strategy of om$etitors to fight !t throat om$etition* St!dy of infl!en ing fa tors affe ting the $!r hase de ision* AnalyBing the $referred %ro5ing ho!se* Che 5ing the satisfa tion le3el of the !stomers to"ards $referred %ro5ing ho!se*

The secondary objective is: To ma5e lients and let them 5no" a%o!t the different ser3i es offered %y the S,AREC,AN* To !nderstand the $ro%lem fa ed %y !stomers and finding "ay to sol3e the 6!eries*

4$

+hapter( %
RESEAR+) MET)ODO*O1"
INTRODU+TION Resear h Methodology refers to sear h of 5no"ledge *one an also define resear h methodology as a s ientifi and systemati sear h for re6!ired information on a s$e ifi to$i * The "ord resear h methodology omes from the "ord ad3an e learner Ps di tionary meaning of resear h as a aref!l in3estigation or in6!iry es$e ially thro!gh resear h for ne" fa ts in my

%ran h of 5no"ledge

for eAam$le some a!thor ha3e define resear h methodology

as

systematiBed effort to gain ne" 5no"ledge* Methodology of the $ro4e t starts "ith O In the first $hase "e are trained and they tea h !s different things a%o!t mar5et* After that they ond! t a mo 5 3i3a2 in this they as5 a%o!t the real life $ro%lem fa ed %y the !stomers* They $ro3ide leads and after that "e ma5e alls* Then after that "e ha3e to $ro3ide details of $rod! t and on3in e them* Then "e ha3e to 3isit them and get the formed filled from them* Maintaining dairy of lients and onta ting them at reg!lar %asis* Get the 5no"ledge of te hni al as "ell as f!ndamental methods* O%ser3e the $atterns of the s ri$ts*

0< E=pl3rat3r5 Resear0h, E=pl3rat3r5 resear0h is a ty$e of resear h ond! ted %e a!se a $ro%lem has not %een learly defined* EA$loratory resear h hel$s determine the %est

resear h design2 data olle tion method and sele tion of s!%4e ts* Gi3en its f!ndamental nat!re2 eA$loratory resear h often on l!des that a $er ei3ed $ro%lem does not a t!ally eAist* EA$loratory resear h often relies on se ondary resear h s! h as re3ie"ing a3aila%le literat!re and=or data2 or 6!alitati3e a$$roa hes s! h as informal dis !ssions "ith ons!mers2 em$loyees2 management or om$etitors2 and more formal a$$roa hes thro!gh in+de$th inter3ie"s2 fo !s gro!$s2 $ro4e ti3e methods2 ase st!dies or $ilot st!dies* The res!lts of eA$loratory resear h are not !s!ally !sef!l for de isionma5ing %y themsel3es2 %!t they an $ro3ide signifi ant insight into a gi3en sit!ation* Altho!gh the res!lts of 6!alitati3e resear h an gi3e some indi ation as to the I"hyI2 Iho"I and I"henI something o !rs2 it annot tell !s Iho" oftenI or Iho" many*I EA$loratory resear h is not ty$i ally generaliBa%le to the $o$!lation at large*

Resear h is eA$loratory "hen yo! !se no earlier model as a %asis of yo!r st!dy* The most !s!al reason for !sing this a$$roa h is that yo! ha3e no other hoi e* Normally yo! "o!ld li5e to ta5e an earlier theory as a s!$$ort2 %!t there $erha$s is none2 or all a3aila%le models ome from "rong onteAts*

F. EA$loratory resear h means that hardly anything is 5no"n a%o!t the matter at the o!tset of the $ro4e t* (o! then ha3e to %egin "ith a rather 3ag!e im$ression of "hat yo! sho!ld st!dy2 and it is also im$ossi%le to ma5e a detailed "or5 $lan in ad3an e*

Analysis in eA$loratory resear h is essentially abstraction and generalization. A%stra tion means that yo! translate the em$iri al o%ser3ations2 meas!rements et * into on e$tsH generaliBation means arranging the material so that it disengages from single $ersons2 o !rren es et * and fo !ses on those str! t!res >in3arian es? that are ommon to all or most of the ases* It "ill seldom %e $ossi%le to di3ide eA$loratory st!dy into s! h lear $hases as is ommon in the ase that the o%4e t has %een st!died earlier* A ording to Alas!!tari >/<<; $*--?2 in 6!alitati3e analysis of em$iri al findings2 yo! an disting!ish t"o $hases %!t these t"o o3erla$7 U sim$lifi ation of o%ser3ations U inter$retation of res!lts >or Isol3ing the enigmaI? In the sim$lifi ation $hase2 the material is ins$e ted from the theoreti al $oint of 3ie" of the st!dy $ro4e t2 and only the $oints rele3ant from this angle are noted* 'etails differing from one indi3id!al to another at random are omitted or $!shed aside so that the general lines of the data an %e dis erned more easily* Sim$lifi ation ontin!es %y finding the relationshi$s %et"een se$arate %ser3ations or ases* Some tools for this "or5 are om$arison and lassifi ation* The goal is to find the general r!le or model that is 3alid in all or most of the o%ser3ations* This model an %e2 for eAam$le2 de3elo$ment or e3ol!tion2 a!sality2 or a ons io!s a tion to attain an o!t ome "hi h is ty$i al in normati3e resear h* ++ In any ase the analysis starts from se$arate ases and as$ires to reate one or a fe" general models* ISol3ing the enigmaI does not al"ays mean ans"ering eAa tly those 6!estions that "ere as5ed at F/ the o!tset of the $ro4e t* Sometimes the most interesting 6!estions are fo!nd at the end of the resear h2 "hen the resear her has %e ome an eA$ert on the s!%4e t* It is often said that Idata tea h the resear herI*

The $!r$ose of des0r-pt-ve eA$loratory resear h is to eAtra t a str! t!re from the so!r e material "hi h in the %est ase an %e formed as a r!le that go3erns all the o%ser3ations and is not 5no"n earlier >$er the definition of eA$loratory st!dy?* 1inding the !n5no"n str! t!re may need some reati3e inno3ation2 %e a!se e3en the most so$histi ated om$!teriBed analysis methods annot a!tomati ally !n o3er "hi h type of str! t!re is on ealed in data* Us!ally yo! first ha3e to form!late a tentati3e $attern for the ass!med str! t!re in the o%ser3ations and then yo! an as5 the om$!ter to estimate ho" "ell the data orres$onds to the model2 f* Tools for Analysis* MET)ODS OF DATA +O**E+TION

In the $ro4e t "or5 Primary data se ondary data >%oth? so!r es of data has %een !sed ( 1( :r-<ar5 data 03lle0t-3n,

In dealing "ith real life $ro%lem it is often fo!nd that data at hand are inade6!ate2 and hen e2 it %e omes ne essary to olle t data that is a$$ro$riate* There are se3eral "ays of olle ting the a$$ro$riate data "hi h differ onsidera%ly in onteAt of money osts2 time and other reso!r es at the dis$osal of the resear her*

:r-<ar5 data 0an 4e 03lle0ted e-ther thr3/7h e=per-<ent 3r thr3/7h s/rve5(

The data olle tion for this st!dy "as done in the follo"ing manner7

;2 Thr3/7h pers3nal -nterv-e9s,A rigid $ro ed!re "as follo"ed and "e "ere see5ing ans"ers to many $re+ on ei3ed 6!estions thro!gh $ersonal inter3ie"s

Thr3/7h A/est-3nna-re,Information to find o!t the in3estment $otential and goal "as fo!nd o!t thro!gh 6!estionnaires*

Thr3/7h Tele-+all-n7,Information "as also ta5en thro!gh tele$hone alls*

2( Se03ndar5 s3/r0es 3. data, In the se ondary so!r es of data is !sed* >Internet 2 magaBine 2%oo5s2 4o!rnals6 In resear h2 se03ndar5 data is data olle ted and $ossi%ly $ro essed %y $eo$le other than the resear her in 6!estion* Common so!r es of se ondary data for so ial s ien e in l!de ens!ses2 large s!r3eys2 and organiBational re ords* In so iology $rimary data is data yo! ha3e olle ted yo!rself and se ondary data is data yo! ha3e gathered from $rimary so!r es to reate ne" resear h* In terms of histori al resear h2 these t"o terms ha3e different meanings* A $rimary so!r e is a %oo5 or set of ar hi3al re ords* A se ondary so!r e is a s!mmary of a %oo5 or set of re ords* Se03ndar5 data anal5s-s, There are t"o different ty$es of so!r es that need to %e esta%lished in order to ond! t a good analysis* The first ty$e is a $rimary so!r e "hi h is the initial material that is olle ted d!ring the resear h $ro ess* Primary data is the data that the resear her is olle ting themsel3es !sing methods s! h as s!r3eys2dire t o%ser3ations2 inter3ie"s2 as "ell as logs>o%4e ti3e data so!r es?*

F; Primary data is a relia%le "ay to olle t data %e a!se the resear her "ill 5no" "here it ame from and ho" it "as olle ted and analyBed sin e they did it themsel3es* Se ondary so!r es on the other hand are so!r es that are %ased !$on the data that "as so!r e* olle ted from the $rimary

Se ondary so!r es ta5e the role of analyBing2 eA$laining2 and om%ining the information from the $rimary so!r e "ith additional information* Se ondary data analysis is ommonly 5no"n as se ond+hand analysis* It is sim$ly the analysis of $reeAisting data in a different "ay or to ans"er a different 6!estion than originally intended* Se ondary data analysis !tiliBes the data that "as olle ted %y someone else in order to f!rther a st!dy that yo! are interested in om$leting* Common so!r es of se ondary data are so ial s ien e s!r3eys and data from go3ernment agen ies2 in l!ding the &!rea! of the Cens!s2 the &!rea! of )a%or Statisti s and 3ario!s other agen ies* The data olle ted is most often olle ted 3ia s!r3ey resear h methods* 'ata from eA$erimental st!dies may also %e !sed* S3/r0es 3. se03ndar5 data, So!r es of se ondary data may %e lassified into 6!alitati3e and 6!antitati3e* EAam$les of 6!alitati3e so!r es are %iogra$hies2 memoirs2 ne"s$a$ers2 et * Y!antita3e so!r es in l!de $!%lished statisti s >e*g*2 ens!s2 s!r3ey?2 data ar hi3es2 mar5et resear h2 et *Z/[ Today2 "ith the aid of o!r internet a$a%ilities2 tho!sands of large s ale datasets are at the li 5 of a mo!se for se ondary data analyst* Glo%ally2 there are many so!r es a3aila%le* These so!r es an arri3e from the data arranged %y go3ernmental and $ri3ate organiBations2 to data olle ted %y any so ial resear her* Se ondary data analysis is a gro"ing resear h tool in o!r modern day so iety* So ial s ientists ha3e the o$$ort!nity to eA$lore massi3e amo!nts of se ondary data*

;4 +3lle0t-n7' rev-e9-n7' and anal5B-n7 se03ndar5 data The Des-7n and :/rp3se 3. Resear0h

Se ondary data analysis onsists of olle ting data that "as om$iled thro!gh resear h %y another $erson and !sing that data to get a %etter !nderstanding of a on e$t* A good "ay to %egin yo!r resear h !sing se ondary data that yo! are olle ting to f!rther s!$$ort yo!r on e$t is to learly define the goals of yo!r resear h and the design that yo! anti i$ate !sing* An im$ortant thing to remem%er "hen defining yo!r $lan is to ens!re that yo! ha3e esta%lished "hat 5ind of data yo! $lan on !sing for yo!r resear h and the eAa t goal* Esta%lishing "hat ty$e of resear h design is an im$ortant om$onent* In terms of !sing se ondary data for resear h it hel$s to reate an o!tline of "hat the final $rod! t "ill loo5 li5e onsisting of all the ty$es of data to %e !sed along "ith a list of so!r es that "ere !sed to om$ile the resear h* In order to !se se ondary data three ste$s m!st %e om$leted7 /* lo ate the data -* e3al!ate the data

;* 3erify the data )o ating the data an %e easily done "ith the ad3an ements of sear hing so!r es online* ,o"e3er2 $eo$le need to %e a"are of the details "hen sear hing online sin e $ages an %e o!t of date or $oorly $!t together* Therefore2 !se a!tion and $ay attention to "hether it is a relia%le data so!r e online and he 5 "hen the last !$date "as* To e3al!ate the data a resear her m!st aref!lly eAamine the se ondary data they are onsidering to ens!re that it meets their needs and $!r$ose of st!dy* The FF $erson m!st loo5 at the $o$!lation and "hat the sam$le strategy and ty$e "ere* It is also im$ortant to loo5 at "hen the data "as olle ted2 ho" it "as olle ted2 ho" it "as oded and edited2 along "ith the o$erational definitions of meas!res that "ere !sed* 1inally2 the data m!st %e 3erified to ens!re good 6!ality material to %e !sed in ne" resear h*

Deter<-n-n7 the T5pes 3. Data and In.3r<at-3n Needed t3 +3nd/0t Anal5s-s 'ata and information olle tion for se ondary data analysis "ill de$end entirely !$on the s!%4e t that is entral to the fo al $oint of the st!dy* The $!r$ose of ond! ting se ondary data analysis is to f!rther de3elo$ an im$ro3ed !nderstanding of the s!%4e t matter at hand* Some im$ortant ty$es of data and information that sho!ld %e olle ted and s!mmariBed in l!de demogra$hi information2 information gathered %y go3ernment agen ies >i*e* the Cens!s?2 and so ial s ien e s!r3eys* There is also the $ossi%ility of reanalyBing data that "as olle ted in eA$erimental st!dies or data olle ted "ith 6!alitati3e meas!res that an %e a$$lied in se ondary data analysis* The most im$ortant om$onent is to ens!re that the information and data %eing olle ted needs to relate to the s!%4e t of st!dy* Deter<-ne the N/al-t5 3. S3/r0es 3. Data In se ondary data analysis2 most indi3id!als "ho do not ha3e m! h eA$erien e in resear h training or te hni al eA$ertise an %e trained a ordingly* ,o"e3er2 this ad3antage is not "itho!t diffi !lty as the indi3id!al m!st %e a%le to 4!dge the 6!ality of the data or information that has %een gathered* These 5ey ti$s "ill assist yo! in assessing the 6!ality of the data7 'etermine the original $!r$ose of the data olle tion2 attem$t to dis o3er the redentials of the so!r e>s? or a!thor>s? of the information2 onsider if the do !ment is a $rimary or se ondary so!r e2 3erify that the so!r e "ell+referen ed2 and finally find o!t the7 date of the $!%li ationH the intended a!dien e2 and o3erage of the re$ort or do !ment*

;C RESEAR+) DESI1N 1or the $ro$er analysis of data sim$le 6!antitati3e te hni6!e s! h as $er entage "ere !sed* It hel$ in mar5eting more a !rate generaliBation 1rom the data a3aila%le *The data "hi h "as olle ted from a sam$le of $o$!lation "as ass!med to %e re$resenting entire $o$!lation "as

interested *'emogra$hi fa tor li5e age2 in ome and ed! ational %a 5gro!nd "as !sed for the lassifi ation $!r$ose * On The ?34 Tra-n-n7 On the 4o% training is an im$ortant om$onent of o!r training* It is an attem$t to %ridge the ga$ %et"een the a ademi instit!tion and the or$orate "orld* '!ring OJT2 "hi h "o!ld %e a sim!lation of real "or5 en3ironment2 re6!ires yo! to !ndergo the rigor of $rofessional en3ironment2 %oth in form and in s!%stan e* In the $ro ess2 it $ro3ides an o$$ort!nity for !s to satisfy o!r in6!isiti3eness a%o!t or$orate2 $ro3ides eA$os!re to te hni al s5ills2 and hel$s !s to a 6!ire so ial s5ills %y %eing in organiBations* '!ring OJT "e are re6!ired to !nderta5e assignment\4o%s along "ith the day+to+day f!n tion of the om$any2 %oth at the assistan e and eAe !tion le3el* This "ill hel$ to gain a dee$er !nderstanding of the "or52 !lt!re2 deadlines2 and $ress!re et * of an origination* onstant intera tion "ith the $rofessionals of other

STRATE1" M U Tele+ alling U Personal a$$ointments U Ma5ing arrangements for the re6!irements U O$en 'emat A o!n F9 Again 3isit for trading *IMITATION

*a0k 3. a9areness 3. 0ap-tal <arket7

Sin e the area is not 5no"n %efore it ta5es lot of time in on3in ing $eo$le to start in3esting in shares $rimarily in IPODs*

S3<e pe3ple are 03<.3rta4le 9-th trad-t-3nal s5ste<,

As $eo$le are doing trading from there res$e ti3e %ro5ers2 they are 6!ite omforta%le to trade 3ia $hysi al form of $a$er*

*a0k 3. Te0hn3 Savv5 pe3ple and p33r -nternet penetrat-3n: te hno sa33y* Also

Sin e most of the $eo$le are 6!ite eA$erien ed and also they are not Internet $enetration is $oor in India* S3<e resp3ndents are /n9-ll-n7 t3 talk7

Some res$ondents either do not ha3e time or "illing does not res$ond2 as they are 6!ite annoyed "ith the $hone all* Ina00/rate *eads7 Sometimes leads are $ro3ided "hi h had error in it2 "hi h 3aries from only F+digit $hone n!m%er to "rong $hone n!m%er ;$

+hapter( 4
DATA ANA*"SIS AND INTER:RETATION

N1( In 9h-0h 3. these F-nan0-al Instr/<ents d3 53/ -nvest -nt3E F-nan0-al Instr/<ent M/t/al F/nd B3nd Onl-ne trad-n7 Der-vat-ve T3tal :er0enta7e 3. resp3ndent #;J 1CJ #J 2J 100J

Res/lt 3. :re.eren0e 3. Invest<ent

Interpretat-3n, This sho"s that altho!gh the m!t!al f!nds mar5et is on the rise yet2 the most fa3ored in3estment ontin!es to %e in the Share Mar5et* So2 "ith a more trans$arent system2 in3estment in the Sto 5 Mar5et an definitely %e in reased*

;&

N2( Are 53/ a9are 3. 3nl-ne Share trad-n7E

A9are 3. 3nl-ne share trad-n7 "es N3 T3tal

:er0enta7e 3. resp3ndent #2J 2$J 100J

Res/lt 3. a9areness 3. 3nl-ne trad-n7

Interpretat-3n7 @ith the in rease in y%er ed! ation2 the a"areness to"ards online share trading has in reased %y lea$s and %o!nds* This a"areness is eA$e ted to in rease f!rther "ith the in rease in Internet ed! ation*

G.

N%( )eard a43/t Sharekhan ltd(E

A9areness 3. Sharekhan ltd( "es N3 T3tal

:er0enta7e 3. resp3ndent #0J %0J 100J

Interpretat-3n, This $ie+ hart sho"s that This %rand image sho!ld %e f!rther le3eraged %y the om$any to in rease its mar5et share o3er its om$etitors* G/ N4( D3 53/ kn39 a43/t the .a0-l-t-es pr3v-ded 45 Sharekhan ltd(E

A9areness 3. Sharekhan ltd( Serv-0es "es N3 T3tal

:er0enta7e 3. resp3ndent %CJ C4J 100J

A9areness 3. Sharekhan ltd(Fa0-l-t-es

=A@

yes A3@ No

Interpretat-3n7 Altho!gh there is s!ffi iently high %rand e6!ity among the target a!dien e yet2 it is to %e noted that the !stomers are not a"are of the fa ilities $ro3ided %y the om$any meaning there%y2 that2 the om$any sho!ld on entrate more to"ards $romotional tools and in rease its fo !s on $rod! t a"areness rather than %rand a"areness* C2 N(; Dh-0h 03<pan5 pr3v-de a less BRO ARA1E rate E

+3<pan5 Na<e Sharekhan ltd( )DF+ I+I+I T3tal

:er0enta7e 3. resp3ndent 44 22 %4 100

1'' *' )' (' 2' ' S ha#e$ha! .t-. /%FC ICICI Tota.

Pe#ce!ta+e o, #e& o!-e!t

-nterpretat-3n 00N ha3e res$ondent of Share5han ltd*2 --N ha3e res$ondent of ,'1C2 ;0N ha3e res$ondent of ICICI*

G; N( C Dh-0h 03<pan5 pr3v-de 53/ a lar7e n/<4er 3. pr3d/0t and serv-0esE

+3<pan5 Na<e Sharekhan ltd( )DF+ I+I+I T3tal

:er0enta7e 3. resp3ndent 44 22 %C 100

(0 (' 10 1' 20 2' 10 1' 0 ' Pe#ce!ta+e o, #e& o!-e!t S ha#e$ha! .t-. /%FC ICICI

INTER:RETATION,-

00N ha3e res$ondent of Share5han ltd*2 --N ha3e res$ondent of ,'1C2 ;GN ha3e res$ondent of ICICI* G0 N( # )39 <an5 3. 53/ sat-s.5 9-th the level 3. 0/rrent 4r3kerE

Sat-s.a0t-3n level a<3n7 +/st3<ers 9-th 0/rrent 4r3ker

(es + <-N

No+ :N

Interpretat-3n7 This $ie hart a ent!ates the fa t that Strategi mar5eting2 today2 has gone %eyond only meeting Sales targets and generating $rofit 3ol!mes* It sho"s that all the om$etitors are stri3ing hard not only to "oo the satisfa tion* !stomers %!t also to ma5e them &rand loyal %y generating !stomer

GF N( $ )39 <an5 3. d3 tra-n-n7, A? 'aily &? Monthly C? @ee5ly '? (early

FreA/en05 3. Trad-n7

'aily+ <N @ee5ly+ -9N Monthly+F;N (early+//N

Interpretat-3n7 In s$ite of the h!ge ret!rns that the share mar5et $romises2 "e see that there is still a dearth of a ti3e traders and in3estors* This is %e a!se of the non O trans$arent str! t!re of the Indian share mar5et and the s5e$ti ism of the target a!dien e that is generated %y the 3olatility of the sto 5 mar5et* It re6!ires effi ient %!rea! rati inter3ention on the $art of the Go3ernment*

GG N( &A003rd-n7 t3 53/r perspe0t-ve 9h-0h -nvest<ent 7-ves 53/ <a=-</< ret/rnE >/? Share mar5et >-? M!t!al f!nds >;? P!r hasing ins!ran e $oli y

share market mutual funds purchasing insurance policies

Interpretat-3n As of today $eo$le %elie3e in se !red in3estment "ith no ris5 J high ret!rn* So ins!ran e $oli y are the %est o$tion for them as they gi3e good ret!rn after a $eriod of time *Share mar5et has also ome !$ in a %ig "ay tho!gh the ris5 fa tor is a %it too high des$ite good ret!rn*

)2 Re #e&e!t a ie cha#t

3S EROF %EMAT ACCO3NT

S hare%han ltd2 0C0C0 -DFC

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31@

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SAM:*E SIOE-100

G: OBSER!ATION To st!dy the sales and distri%!tion management and im$ro3e the C!stomer A 6!isition Pro ess %y analyBing the ons!mer %eha3ior2 res$onse and mindset to"ards the $rod! t and ser3i es the om$any offers*

1(

:re.eren0e 3. Invest<ent,

Cons!mers "ant to in3est 9FN in M!t!al f!nds2 /GN in &onds2 9N in online trading and -N in 'eri3ati3es*

2(

A9areness 3n Onl-ne Share Trad-n7, 9-N ons!mers are a"are of online share trading and -:N ons!mers are not a"are of online share trading*

%(

A9areness 3. Sharekhan ltd(,

9.N ons!mers are 5no" a%o!t Share5han ltd* and ;.N ons!mers are not 5no" a%o!t Share5han ltd*

4(

A9areness a43/t .a0-l-t-es pr3v-ded 45 Sharekhan ltd( ,

;GN ons!mers are a"are a%o!t the fa ilities $ro3ided %y Share5han ltd* and G0N ons!mers are not 5no" a%o!t the fa ilities $ro3ided %y Share5han ltd*

G<

;(

:r3v-de a less BRO ARA1E rate,

00N ha3e res$ondent of Share5han ltd*2 --N ha3e res$ondent of ,'1C2 ;0N ha3e res$ondent of ICICI*

C(

:r3v-de a lar7e n3( 3. :r3d/0ts and serv-0es, 00N ha3e res$ondent of Share5han ltd*2 -.N ha3e res$ondent of ,'1C2 ;GN ha3e

res$ondent of ICICI*

#0

+hapter( ; FINDIN1S and s/77est-3ns

;(1.-nd-n7s
A ording to the s!r3ey most of the !stomers of Share5han )td# says that it is $o 5et friendly* Coming to faith 9.N say Share5han )td is %etter than others sto 5 %ro5ers d!e to !stomers satisfa tion* Main $!r$oses of in3estments are ret!rns J li6!idity* In3estors ta5e ris5 as "ell as ret!rns into their mind "hile ma5ing the in3estment* &!sinessmen are more interested in the sto 5 mar5et than the others* Commodity mar5et is less $referred %y the in3estors* Peo$le "ant to in3est their money in the se !rity mar5et %!t they ha3enDt the $ro$er 5no"ledge* Peo$le are not a"are of hedging in sto 5 mar5et* Peo$le $ay more em$hasis on %ro5erage than ser3i e $ro3ided %y %ro5erage ho!ses*

#1

;(2SU11ESTIONS

1( MORE BRAN+)ES M Need to o$en more %ran hes to %e a to$$er in mar5et &e a!se it has a lo" distri%!tion net"or5* 2( *ESS TIME M They sho!ld try to ma5e some arrangements to red! e a o!nt o$ening time %y 3erifying do !ments at %ran h it sel3es*

%( *IN -BAN

AH+s M

)in5ed as many a o!nts as lient "ants to its online a o!nt* 4( NED BAN S IN T)E ITT" M

Need to tie !$ "ith ma4or %an5s li5e S&I2 Allaha%ad &an52 &an5 of &aroda et * F*+USTOMER SATISFA+TION M The om$any sho!ld fo !s on the !stomer satisfa tion not on 4!st ta5ing money from their $o 5et*

22

+hapter-C
+ON+*USION

On the %asis of the st!dy it is fo!nd that Share5han )td is %etter ser3i es $ro3ider than the other sto 5%ro5ers %e a!se of their timely resear h and $ersonaliBed ad3i e on "hat sto 5s to %!y and sell* Share5han )td* $ro3ide the fa ility of Trade tiger as "ell as relationshi$ manager fa ility for en o!ragement and $rote t the interest of the in3estors* It also $ro3ides the information thro!gh the internet and mo%ile alerts that "hat IPODs are oming in the mar5et and it also $ro3ides its resear h on the f!t!re $ros$e t of the IPO*

St!dy also on l!des that $eo$le are not m! h a"are of ommodity mar5et and "hile itDs going to %e %iggest mar5et in India*

The om$any sho!ld also organiBe seminars and similar a ti3ities to enhan e the 5no"ledge of $ros$e ti3e and eAisting !stomers2 so that they feel more omforta%le "hile in3esting in the sto 5 mar5et*

#% BIB*IO1RA:)" De4s-tes, 12 htt)s1BB+++2google2co2inBCg+sDrdEcr!eiE6Fl0Gu$ HsS=rgeIyI-oD+ :2 htt)1BB+++2nseindia2comB =2 htt)1BB+++2share%han2comBstoc%.mar%etB11Bhome2htm 32 htt)s1BBtt+e*2indiainfoline2comBJuic%lin%sBJuic%lin%s2as)x F* htt$7=="""*hdf se * om=Mar5et= G* htt$7=="""*money ontrol* om=

NEDS:A:ERS, /* ECONOMIC TIMES -* TIMES O1 IN'IA ;* 1INANCIA) ETPRESS

B33ks, 'eri3ati3es7 8al!ation and Ris5 Management &y 'a3id A* '!%ofs5y and Thomas @* Miller2 JR*2 P!%lished %y OAford Uni3ersity Press* 1inan ial Engineering7 A Com$lete G!ide to 1inan ial Inno3ation &y John 1* Marshall and 8i$!l C* &ansal2 P!%lished %y Printi e ,all of India*

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