1

PORTFOLIO MANAGEMENT IN
INDIA INFOLINE LIMITED

SUMMER TRAINING PROJECT REPORT
SUBMITTED TOWARDS PARTIAL FULFILLMENT
OF
BACHELOR OF BUSINESS ADMINISTRATION
(Affiliated To ch.Charan Singh University Meerut)
Academic Session
[2011-2014]
Submitted by
Abhay Singh
Roll No 9355506
Under The









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DECLARATION


I hereby declare that this project report entitled A summer internship report on
PORTFOLIO MANGEMENT IN INDIA INFOLINE GROUP. has been carried out under the
guidance of Asif Parwej (Vice president), Durgesh Diwedi, (Sales Manager) India
Infoline, Noida-63 and submitted to the Ms. Aparna Singh, Institute of Management
Studies, Ghaziabad U.P in partial fulfillment of Bachelor of Business Administration
degree.

I further declare that this project repot is a result of my own efforts and that it has not
been submitted in part of or in full to any other Universities or Institutions for the award
of any degree.


Abhay Singh
Date :- 21/06/2013
Place :- Noida








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ACKNOWLEDGEMENT



I owe my gratitude to many people who helped and supported me during the entire Summer
Training.

My sincere thanks to Ms. Aparna Singh, the Guide of the project, for initiating and guiding the
project with attention and care. He has always been available for me to put me on track from
time to time to bring the project at its present form.
My deep sense of gratitude is due to Durgesh Diwedi, Sales Manager, India infolne noida 63
for allowing me to carry out the Summer Internship and this Project at the organization and to be
constantly available to me for the period, for guidance. He also helped me to see the subject of
study in its proper perspective. Thanks and appreciation is also due to the officials, employees
and respondents of INDIA INFOLINE Ltd, NOIDA 63, U.P for their support.
I also thank my Institution and my faculty members without whom this project would have been
a distant reality.



Place: Noida -63
Date: 21/06/2013

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PREFACE

BBA programme is one of the most reputed professional courses in the field of Management.
Training is an integral part of BBA, as a complementary to that every trainee has to submit a
report on the research work conducted in that Institute.
This Project report is prepared for the project work
done at INDIA INFOLINE,NOIDA-63. The topic of project is Portfolio Management.
This project will accomplish to understand how the people interact with technology savvy
products and if they are ready for doing all the trading through net. The project also helps in
understanding the trend of the scripts of the particular sector (banking sectors) in different
market condition. The Board objective of the project is to equip the trainees with all the quality
which is essential to face any circumstances which can arise while providing service to the
clients.
Portfolio Management means putting your money to earn more money with a systemic way. One
needs to make decision about how much he/she wants to invest and where to invest. To choose
his/her needs to know current good option available and their relative risk exposures. These
helps are given to client in INDIA INFOLINE as to in which portfolio they can invest and what
risks are related to it. They manage all the respected returns of their clients and timely inform
them for the switching to be done between funds in cases of expected downfall in returns of their
Mutual funds in future.
All these steps help me to understand how to cope up with different type of people and their diversified
needs and satisfaction level.
Productivity is the main concern of any industrial/service organization for its survival in the competitive
business world; it can be achieved in different ways.







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INDEX
Chap.
No.
Particular Page No.
1. COMPANY PROFILE 6-19
a) About IIFL 7
b) History of IIFL 8-10
c) Management Team 11
d) Award & Accolades 12
e) Vision 13
f) Mission 14
g) Products & Services 15-18
h) Market Strategy 19
2. PORTFOLIO MANAGEMENT. 20-27
a) Definition of Portfolio Management 21
b) Objective 22
c) Portfolio Life Cycle 23
d) Portfolio Core Process 24
e) Key Benefits 25-27
f) Summary 27
3. RESEARCH MATHODOLOGY 28-31
a) Objective 29
b) Fundamental Research Services 30
c) Technical Research Services 31






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4. DATA ANALYSIS 32
a) One Year Chart 33
b) Balance Sheet 34-35
c) Profit & Loss A/C 36-37
d) Competitors 38-39
5. FINDING & RECOMMENDATION 40-42
a) Finding 41
b) Recommendation 42
6. QUESTIONNAIRE 43-45
a) Questionnaire 44-45
7. CONCLUSION 46
a) Conclusion 47
8. BIBLIOGRAPHY 48
a) Bibliography 49








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CHAPTER -1















8


The IIFL (India Infoline) group, founded by Mr. Nirmal jain(charman) in 1995 comprising the
holding company, India Infoline Ltd (NSE: 532636) and its subsidiaries, is one of Indias
premier providers of financial services.
IIFL offers advice and execution platform for the entire range of financial services covering
products ranging from Equities and Derivatives, com-modifies, Wealth Management, Asset
Management, Insurance, Fixed Deposits, Loans, Investment Banking, Gold, Bonds, Other
small saving instruments.
IIFL has received membership of the Colombo Stock Exchange become- nag the first foreign
broker to enter Sri Lanka. IIFL owns and manages the website, www.indiainfoline.com, which
is one of the Indias leady- nag online destinations for personal finance, stock market, economy
and business.
IIFL has awarded the Best Broker, Indias by Finance Asia and the Most improved
brokerage, India in the Asia Money Polls. India Info-line was also adjudged as Fastest Grow
Equity Broking House Large firm by Dun & Bradstreet. A forerunner in the field of equity
research is acknowledged by none other than forbs as Best of the web and a must read for
investors in Asia.

Our research is available not just over the internet but also on international wire se rice like
Bloomberg, Thomson First call and internet securities besides others where it is amongst one of
the most read Indian brokers.

IIFL is a listed company with a consulted group net worth of about RS - 1,800 cores. The
income and net profit during FY2010-2011 were RS 14.7bn and RS 2.1bn respectively.
The group has a consistent and uninterrupted thick record of profits and dividends sin-cue its
listing in 2005. The company is listed on both Exchange and also trades in the derivatives
segment.


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HISTORY OF IIFL

Were We originally incorporated on October 18, 1995 as Probity Research and Services Private
Limited at Mumbai under the Companies Act, 1956 with Registration No11 93797 commence
our operations as a independent provider of information, analysis and research covering Indian
businesses, financial markets and economy, to institutional customers. We became a public
limited company on April 28, 2000 and the name of the Company was changed to Probity
Research and Services Limited.
The name of the Company was changed to India Infoline.com Limited on May 23, 2000 and
later to India Info line Limited on March 23, 2001. In 1999, we identified the potential of the
Internet to cater to a mass retail segment and transformed our business model from providing
information services to institutional customers to retail customers. Hence we launched our
Internet portal, www.indiainfoline. com in May 1999 and started providing news and market
information, independent research, interviews with business leaders and other specialized
features.

In May 2000, the name of our Company was changed to India Infoline.com1995 Incorporated
as an equity research and consulting firm with a client base that included leading FIIs, banks,
consulting firms and corporates.1999 Archives.indiainfoline.com mobilized capital from reputed
private equity investors.

2000 :- Commenced the distribution of personal financial products; launched online equity
trading; entered life insurance distribution as a corporate agent. Acknowledged by Forbes as
Best of the Web and must read for investors.


2004 :- Acquired commodities broking license; launched Portfolio Management Service.



IIFL is near you physically: we are present in every nook and cranny of the country, over 4,000
business locations across 900 cities in India. You can reach us, in a verity of ways online,
over the phone and through our branches. All our offices are connected with the corporate office
in Mumbai with cutting edge networking technology. The group caters to a customer base of
about a million customer Our physical presence in key global markets includes subsidiaries in
Colombo, Dubai, New York, Mauritius, London, Singapore and Hong Kong.



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2005 :- Listed on the Indian stock markets.


- India Info line fixes a price band between Rs 70 and Rs 80 for its forthcoming public issue.
The company is coming out with public issue of 1.18 crore shares with a face value of Rs 10
through the book building route. The issue is slated to open on April 21 and close on April 27.
Exam Financial Consultants Private Ltd would be the sole book running lead manager to the
issue while In time Spectrum Registre Ltd is the registrar to the issue.


-India Info line Ltd has informed that the Company has entered into a advertising agreement with
Times Group where in the Company and other group companies would spend about Rupees
Thirty Corers over the next 5 years in print as well as non print media of The Times Group.

-India Info line to buy 75-pc stake in Money tree



2006:- India Infoline launches exclusive SMS Value Added Service


-India Infoline enters into strategic agreement with Saraswat Bank.


-India Infoline to launch stock trading on cell phones.


-Indiainfoline to roll out MCX, NCDEX, DGCX software.


-Acquired membership of DGCX; launched investment banking services.



2007:- Launched a proprietary trading platform; inducted an institutional equities team;
formed a Singapore subsidiary; raised over USD 300 mn in the group; launched
consumer finance business under the Moneyline brand.


2008:- Launched wealth management services under the IIFL Wealth brand; set up India
Infoline Private Equity fund; received the Insurance broking license from IRDA;
received the venture capital license; received in principle approval to sponsor a mutual
fund; received Best broker- India award from Finance Asia; Most Improved
Brokerage- India award from Asia money.


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- India Infoline Ltd has informed that the Board of Directors of the Company have vide circular
resolution passed on March 10, 2008 approved the appointment of Mr. A K Purwar, ex-
Chairman of the State Bank of India, as an independent director on the Board of the Company.


- India Infoline Ltd has informed that pursuant to the resignation of Mr. Nimish Mehta,
Company Secretary and Compliance Officer of the Company. Ms. Falguni Sanghvi has been
appointed as the Company Secretary with effect from October 07, 2008.


- The Company has splits its face value from Rs10/- to Rs2/-.

2009:- Received registration for a housing finance company from the National Housing
Bank; received Fastest growing Equity Broking House.


2010:- Received in-principle approval for membership of the Singapore Stock
Exchange. Received membership of the Colombo Stock Exchange


2011:- Launched IIFL Mutual Fund. IIFL got SEBI nod for Mutual Fund business.IIFL
announces launch of its 'Lifetime Prepaid, Anytime Money back brokerage product.


2012:- PFRDA appoints India Info line Finance Ltd (IIFL) as Points of Presence (PoP) under
New Pension System (NPS).
















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Management Team







Nirmal Jain
Chairman

R Venkataraman
Managing Director

Sunil Kaul
Independent Director









Mr.Kranti Sinha
Independent Director

Mr Arun K. Purvar
Independent Director

Nilesh Vikamsey
Independent Director












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AWARDS & ACCOLADES OF IIFL

D & B awards (Decide with Confidence) for Best Broking House with Global Presence in
October, 2011.

ASSET ASIAN AWAREDS 2011 for Best Wealth Management House in India in
September, 2011.

COUNTRY AWAREDS FOR ACHIVEMENT 2011 IN Finance Asia for Best Broker in
India in June 2011.

FINANCIAL LEADERSHIP AWAREDS IN 2011 for Best Equity Broker of the Year in
March, 2011.


EUROMONEY AWAREDS IN 2012 for Best Fixed Income Portfolio Management in
February, 2012.


EUROMONEY AWAREDS IN 2012 for Best Commodity Investment in February,
2012.








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VISSION OF IIFL

To become a the most respected company in the financial service space in INDIA
Financial Planning is the process of meeting individuals life goal through the proper
Management of the finances. Life goal can include buying a house, saving for his Childs higher
education or planning for retirement. Among others, two factors are responsible for the same i.e.
inflation & changing lifestyles.

Financial planning can ensure that one is equipped to deal with the impact of inflation, especially
in phases like retirement when expenses continue but income streams dry up. Changing life
styles, with higher disposable income, it is common for individual to upgrade their standard of
living. For example objects like cars that were considered luxuries not too so long ago, have
become necessities today. Financial planning has a role to play in helping individual both
upgrade & maintain their lifestyle as well.

Financial Planning takes into account individuals current & future needs, risk profile and
income to chart out a roadmap to meet his anticipated needs through saving & investments.
This module not only covers in depth financial planning process but also guides you how to
boost your savings and maximize your income , structure your investment portfolio and manage
risk , make the most of your superannuation, plan your income for retirement, reduce your tax
and pass on your wealth to your loved one through estate planning. Its never too soon or too
late to plan your financial future and this will be show how?

At IIFL we look forward to offer our clients a complete basket of financial planning products
that they require, along with solid advice for achieving their financial goal.
This provides a win win situation for both our clients and company. The clients in term of
achieving their goals and a company we look for building a long term relationship with our
clients in line with our company vision.




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MISSION OF IIFL

The launch of the show and exhibition saw the attendance of leading film maker Nagesh Kukunoor
along with the stylish host of Mission Cover shot, Shibani Dandekar who shared their experiences
from the show.


The legendary mission series on National Geograpic Channelis back in it newest avater and this time
Net Geo is combining two of its greatest assets- mission and photo
Raphy in one potent show mission cover shot, giving a flavor of the upcoming show, Net Geo
showcased the best pictures clicked by the contestants in an exhibition today at Blue Frog in New
Delhi.


The launch of the show and exhibition saw the attendance of leading filmmaker Nagesh Kukunoor
along with the stylish host of Mission Covers hot, Shibani Dandeker who shared their experiences
from the show. The exhibition showcased the best work of the eight amateur photographers who are
competing on the show for a coveted chance to contribution to the cover of Net Geo Traveler
Magazine. Slated to go on air on March 25, 2013, every Monday, the show promises a compelling
combination of competition, photography and quintessential Mission intensity.


Talking about Mission Cover shot and exhibition, Debarpita Banerjee, vice president,
Marketing and Communication, NGO Networks and FOX International Channels, said, On
one hand, photography now has become a popular passion, more people a-re clicking and
creating stunning imagery. On the other hand, not just now, but for decades National
Geographic photographers are looked upon with great wonder and envy. It was obvious for us to
bring the two together- a platform for budding photographers honed by some of best in the Net
Geo family industry. And thats what makes our next Mission- Mission Cover shot so special. It
has a grandiose of Net Geo Photography coupled with 8 hugely empathisable contestants trying
to make the cut.

Photography is considered a natural talent but we tend to overlook the efforts that the
photographer puts in to come up with that perfect picture. Mission Cover shot would be
an eye opener for everyone as it was for me. It was heartening to see the immense talent
that we have and no and no other platform could have been a better than National Geo-
graphic Channel to take up this initiative.

16


Manas Mohan, Publishing Director of Nat Geo Traveler Magazine in India, talking about
the association for Mission Cover shot said, This is the real thing! We believe that
Mission Covers hot offers one of the ultimate prizes.



PRODUCT & SERVICE OF IIFL

A. Equities.


IIFL is a member of BSE and NSE registered with NSDL and CDSL as a depository participant
and provides broking services in the cash, derivatives and currency segments, online and offline.
IIFL is a dominant player in the retail as well as institutional segments of the market. It recently
became the first Indian broker to get a membership of the Colombo Stock Exchange and is also
the first Indian broker to have received an in-principle approval for membership of the Singapore
Stock Exchange. IIFLs Trader Terminal, its proprietary trading platform, is widely
acknowledged as one of the best available for retail investors. Investors opt for IIFL given its
unique combination of superior Service, cutting-edge proprietary Technology, Advice powered
by world-acclaimed research and its unparalleled Reach owing to its over 2500 business
locations across over 500 cities in India.


IIFL core offering, gives us a leading market share in both retail and institutional segments.
Over a million retail customers rely on our research, as do leading FIIs and MFs that invest
billions.


B. Commodities.

IIFL offers commodities trading to its customers vide its membership of the MCX and the
NCDEX. Our domain knowledge and data based on in depth research of complex paradigms of
commodity kinetics, offers our customers a unique insight into behavioral patterns of these
markets. Our customers are ideally positioned to make informed investment decisions with a
high probability of success.

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C. Credit and finance.


IIFL offers a wide array of secured loan products. Currently, secured loans (mortgage loans,
margin funding, loans against shares) comprise 94% of the loan book. The Company has
discontinued its unsecured products. It has robust credit processes and collections mechanism
resulting in overall NPAs of less than 1%. The Company has deployed proprietary loan-
processing software to enable stringent credit checks while ensuring fast application processing.
Recently the company has also launched Loans against Gold.


IIFL focuses on secured mortgages and consumer loans. Our high quality loan book of
over Rs. 6,200 crores ($ 1.2bn) is backed by strong capital adequacy of approximately 20%.


D. Insurance.


IIFL entered the insurance distribution business in 2000 as ICICI Prudential Life Insurance Co.
Ltds corporate agent. Later, it became an Insurance broker in October 2008 in line with its
strategy to have an open architecture model. The Company now distributes products of major
insurance companies through its subsidiary India Infoline Insurance Brokers Ltd. Customers can
choose from a wide bouquet of products from several insurance companies including Max New
York Life Insurance, MetLife, Reliance Life Insurance, Bajaj Allianz Life, Birla Sunlife, Life
Insurance Corporation, Kotak Life Insurance and others.


Life Insurance, Pension and other Financial Products, on open architecture complete our product
suite to help customers build a balanced portfolio.




E. Wealth Management Service


IIFL offers private wealth advisory services to high-net-worth individuals (HNI) and corporate
clients under the IIFL Private Wealth brand. IIFL Private Wealth is managed by a qualified
team of MBAs from IIMs and premier institutes with relevant industry experience. The team
advises clients across asset classes like sovereign and quasi-sovereign debt, corporate and
collateralised debt, direct equity, ETFs and mutual funds, third party PMS, derivative strategies,

18
real estate and private equity. It has developed innovative products structured on the fixed
income side.


It also has tied up with Interactive Brokers LLC to strengthen its execution platform and provide
investors with a global investment platform. Wealth Management services cater to over 2500
families who have trusted us with close to Rs 25,000 crores ($ 5bn) of assets for advice.




F. Investment Banking


IIFLs investment banking division was launched in 2006. The business leverages upon its
strength of research and placement capabilities of the institutional and retail sales teams. Our
experienced investment banking team possesses the skill-set to manage all kinds of investment
banking transactions. Our close interaction with investors as well as corporates helps us
understand and offer tailor-made solutions to fulfill requirements.



The Company possesses strong placement capabilities across institutional, HNI and retail
investors. This makes it possible for the team to place large issues with marquee investors.
Investment Banking services are for corporates looking to raise capital. Our forte is Equity
Capital Markets, where we have executed several marquee transactions



G. MUTUAL FUNDS.


A Mutual fund is a body corporate registered with SEBI that pools money from
individual /corporate investors and invest the same in a variety of different financial
instruments or securities such as equity shares, government securities, bonds,
debentures. Mutual fund can thus be considered as financial intermediates in the
investment business that collect funds from the public and invest on behalf of the
investors.






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MARKET STRATEGIES OF IIFL


Market Positioning:- Market positioning statements of India Infoline are we give
you single window services and also ensure your comfort. So it focuses on the
consumers who prefer almost all investment activities at same place by providing
numbers of various financial services. At India infoline , a person can purchases or
sell shares, debentures, etc. and at the same place also demat.

Marketing channel system :- India infoline uses one level marketing channel for
investment product distribution. Sub-broker work as intermediary between consumer
and company. Company has both forward and backward flow of activity through
channel. Company distributes stationary, brokerage, and information forward to its
sub-broker.


Training channel members :- India infoline provides training to the sub-brokers
because they will be viewed as the company by the investors. The executives of India
Infoline explain various new schedulea of investments to the sub-broker with its
objectives,risk factors and expected return. Company also periodically arrange
seminar to guide sub-brokers.

Advertising and promotion :- The objective of advertising of India Infoline is to
create awareness about services of India Infoline among investor and sub-brokers.it
also published its weekly stock market newsletters Market Mantra.





20



CHAPTER- 2







21


PORTFOLIO MANAGEMENT

Portfolio Management is a science for managing the varying combination of Portfolio elements.
These elements are the sub-components, of which the larger portfolio is formed; say, the
elements may be 'plans' for a portfolio of plans, or 'strategies' for portfolio of strategies, or
'securities' for a portfolio of securities, and so on. In general, we may say that the elements of a
portfolio are different forms of assets and in essence, portfolio management is managing these
assets. We shall henceforth refer to portfolio management as the management of these assets. In
particular, the scope of this report has been focused to handle and discuss 'securities' as the
typical sub-component of portfolio of assets.

There are mainly two types of Portfolio Management strategy.
Passive Portfolio Strategy.
Active Portfolio Strategy.


1. Passive Portfolio Strategy :- A strategy that involves minimal expectation input, and
instead relies on diversification to match the performance of same market index. A
passive strategy assumes that the marketplace will reflect all available information in the
price paid for securities.

2. Active Portfolio Strategy :- A strategy that uses available information and forecasting
techniques to seek a better performance than a portfolio that is simply diversified broadly.







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OBJECTIVES OF PORTFOLIO MANAGEMENT

To investigate and determine the various strategies and practice adopted
by the institution offering Portfolio Management Services and the
resultant satisfaction level of investors

To find out the awareness level of Investors about various parameters of
Portfolio Management Schemes. Particularly, the rate of return to the
investor.






Portfolio Management is for organizations that have large numbers of investments, and a need
for improved governance or execution. It is generally the concern of three groups of people
within an organization: executives, managers, and project teams.

1. Executives includes executives and portfolio managers. Executives have the
responsibility to set strategy and direct the organization to meet its objectives.
Frequently, there is a Portfolio Manager involved in supporting executives to organize
and operate Portfolio Management.

2. Managers includes the Project Management Office (PMO), Resource Managers, and
Project Managers. This group is responsible for the planning and successful execution of
projects and programs.


3. Project Teams are the set of people assigned to a project to perform tasks and produce
deliverables


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An organizations strategy, operational structure, execution process and technical
expertise are all tested when resource assignments are made. Portfolios, programs and
projects are all formal expressions of resource assignment decisions. Accordingly, a
systematic approach to collecting, selecting, planning and managing them is key to a
high-quality IT Governance process.


Portfolios, programs and projects all share a common lifecycle. This lifecycle is formed
around four key PPM gates,

Create Select Plan Manage.


1. Create: Standardized intake process and data collection structures for formation of the
project portfolio inventory. Formal definition of strategic goals and objectives to
support portfolio prioritization and selection.

2. Select: Repeatable process for prioritization of the project portfolio. Decision-making
for progression, suspension or rejection of work requests.


3. Plan: Scheduling and resource assignment processes for the entire project portfolio,
supported by detailed project planning.

4. Manage: Ensuring successful project delivery, ongoing project tracking and reporting;
and portfolio realignment.


This simple framework can serve as a foundation for evaluating and improving governance
practices. Organization-wide adoption of the Create, Select, Plan, Manage lifecycle leads to
consistent definition and common understanding of its underlying core processes:-

a). Demand Management starts with having standard methods and structures for capturing all work
ranging from simple support or change requests, to large complex projects and programs. Demand
Management also includes definition of workflow for proper categorization, evaluation and
characterization of the work request.

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b). Portfolio Selection is the process of evaluating a portfolio of project requests, prioritizing the
requests and approving or rejecting requests. To determine the best combination of projects, portfolio
managers should use multiple criteria and analyses, including strategic, financial and risk. A portfolio
selection that maximizes the portfolios value (as determined by the relevant criteria) given budget or
resource constraints is considered Optimized.

c). Capacity Planning is a continuous process of evaluating an organizations resources and
performance to determine its capacity for production of work. It includes setting utilization targets for
defined sets of people usually by title and/or skill set. It also includes a collection of project metrics to
understand productivity and subsequent adjustment of utilization targets. Proactive capacity planning
allows organizations to finalize a release roadmap that maximizes resource utilization.

d). Resource Management is about the assignment of resources to projects and tasks. For large
organizations, this is typically an elaborate process that includes shuffling of resources to meet demands
of project delivery schedules and project priorities.

e). Financial Management exists at both the project and portfolio levels. At the project level, financial
management is the estimation of project costs and benefits, and tracking project expenditures against
the project budget. At the portfolio level, financial management focuses on gaining visibility into spend
(committed, planned and discretionary) and tracking the overall project portfolio budget.

f).Project Scheduling includes developing accurate project schedules; and defining repeatable best
practice efforts. These two activities reinforce efforts to understand interdependencies between
project schedules.

g).Time Reporting provides structures and methods for individual reporting of time spent on projects
or tasks by resources. This information feeds project and portfolio reporting and provides visibility into
the actual work progress, current work status and remaining work.

h).Team Collaboration in PPM, is the structured sharing of information to support knowledge sharing,
change management, communication of schedule milestones, issues and risk management.


25

i). Portfolio Reporting provides visibility of the project portfolio to executives and functional leaders.
To support sound decision-making and operational efficiency, a common view of projects and priorities
is essential. By having executives, PMOs, and project managers share a common view of the
organization, inefficiencies due to conflicting information are minimized and discussions can be focused
on value-adding portfolio analysis.

j). Project Reporting helps to ensure consistent tracking of projects and efficient communication of
project objectives and status.

k).Program Management can be viewed as management of large initiatives comprised of multiple
projects. Programs should be aligned with an organizations strategy and the results of a program are
produced through the delivery of its projects.


Key benefits and capabilities:

1. Capture all requests, from work orders to discretionary projects
Consolidating requests in a single central repository provides visibility and control
to your organizations entire workload. This is required for maintaining a single
source of truth for work demand and for making informed allocation decisions.

2. Standardize metrics, valuation criteria and templates Standardization allows
for consistent methods in evaluation and decision-making. Structured templates,
consisting of standard metrics and valuation criteria, support an end-to-end flow
of information throughout the PPM process. This flow ranges from business case
creation to portfolio and project reporting.

3. Control investment through governance workflow The proper evaluation of
business cases includes validation of the information provided by the appropriate
authority; business case review by key stakeholders; and approval from the
appropriate governing bodies. Routing and tracking business cases can be
simplified through structured workflows. These review and approval processes


26
can vary depending upon the investment type (e.g., big or small project) requiring
a unique review and approval workflow for each type.


4. Portfolio Selection Key metrics in a project portfolio inventory are used to
collate the project portfolio into analysis sets; examine project valuation (e.g.,
strategic, financial); and perform analyses (e.g., constraints, what-ifs). The
analyses are used by a governance committee to select the investments that best
align with the organizations strategic priorities.

5. Financial Management Budgetary constraints are key inputs for the Select
phase. Decisions made during the phase also feed financial planning as programs
and projects are approved and budget allocations are mad.


6. Portfolio Reporting Reporting supports portfolio selection discussions by
providing a common and consistent view of the entire project portfolio to
decision-makers. Information reported during the Select phase includes: project
ranking based on varying valuation criteria (e.g., strategic alignment, financial
valuation), and charting to show the results of constraint and what-if portfolio
analyses.

7. Team Collaboration As prioritization and selection discussions take place,
there is an exchange of questions and answers between executives, PMOs, project
managers and other stakeholders. Good collaboration during this exchange yields
a deeper understanding of and improved confidence in the project portfolio
information. This includes efficiently handling portfolio data Q&A, pressure
testing key assumptions and socialization of decisions


8. Program Management During the Select phase, this includes activities for the
prioritization of programs and the inclusion of program-oversight in the go/no-go
project decision-making process. Different organizations have different
approaches for managing the portfolio-program-project relationship. Some may
take the approach of prioritizing programs before identifying projects.




27
SUMMARY




Many people believe that portfolio management just involves effective reporting across
project portfolios. This is certainly an important aspect, but portfolio management also
helps organizations to identify business value and ensure they are investing in the optimal
project portfolios. In other words, portfolio management helps you to select the right
things and project management ensures you execute and deliver the projects on time and
within budget. Successful organizations invest in improving both disciplines.








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CHAPTER- 3












29


RESEARCH MATHODOLOGY

Research Methodology is a process used to collect information and data for the purpose
of making business decisions. The methodology may
include publication research, interviews, surveys and other research techniques, and could
include both present and historical information.

1. Objective of the study:-

a) To know percentage of people invest in mutual fund, insurance, equity, and other
financial services.

b) To know future prospective of their investment in the financial products and
services.


2. Data collection :-

a) Primary data :- Primary data are freshly for a specific purpose. The various
sources of primary data for project are as follows-
Banks.
Local residents.
People from industries.
Mall

b) Secondary data :- Secondary data provides a starting point for research and
offer the valuable source of information. It was the most important source fpr my
project because it gave me information about companys profile, competitors,
market scenario, market shares, etc.

We used secondary data for following sources-

30
Internet.
IIFL Broachers


FUNDAMENTAL RESEARCH SERVICES

The Sunday weekly report :- This weekly report is the ace of all reports. It
offers a comprehensive market overview and likely trends in the week
ahead. It also presents few top picks based on an in-depth analysis of
technical and fundamental factors. It gives short terms and long terms
outlook on these scrips their price target and trading strategies.

The industry watch :- This report provides an in-depth analysis of specific
industries which are likely to outperform others in the economy. It analyses
their strengths and weakness and ascertains their future outlook. The final
view is arrived at after through interaction with industry experts.


Stock analysis :- IIFL Stock research has performed very well over the past
few years and the IIFL Model Portfolio has consistently outperformed the
benchmark indices. The fundamentals of selected script are thoroughly
analyzed and an actionable advice is provided along with investment
rationale for each script.

Flash News :- Key developments and significant news announcements that
are likely to have an impact on markets flashed live on trading on terminals.
Flash news keeps the market participants updated on an online basis and
helps them to reshuffle on their holdings.



31




TECHNICAL RESEARCH SERVICES.


1.NIFTY TRACKER :- Nifty futures is the most traded instruments with highest
volumes in F & O and excellent liquidity. The team tracks the nifty future and
generates calls based calls based on unique trading system which is a result of their
foused research over the past few years. The objective is to generates positive
returns for trader who are looking for a high risk/reward product.

2. Online chart :- An online forum to help clients, specifically day traders in
judging the directions of the market and stocks which are in the limelight.

3. Intraday Calls :- For day traders, IIFL provides intraday calls with entry, exit,
and stop loss levels during market hours. These calls are flashed on their terminals.
Their analysis continuously track the calls provide recommendation according to
the market movements.

4. Position call :- It is based on thorough analysis of the price movement in
select scrips. These calls are for a 10-15 days time span with stop loss and
target levels. These calls are flashed on their terminals during market hours.

5. Future Calls :- A customized product for HNIs to help them trade with
leveraged position, where in clients are advised on the stocks with entry, exit and
stop loss level for short term benefits.


32


CHAPTER-4


















33






One month chart of INDIA INFOLINE.






One Year Chart of India Infoline Ltd.

High/Lows & Performance of India Infoline Ltd.
Duration One Week Two Week One Month Three
Months
Six Month One Year
Period
Old
Price
58.85 64.20 72.55 60.60 88.90 58.60
Price
Gain
1.65 -3.70 -12.05 -0.10 -28.40 1.90
Price
Gain in
%
2.80 -5.76 -16.61 -0.17 -31.95 3.24
Period's
High
63.00 66.10 74.00 77.40 91.30 93.30
High On 14/06/2013 06/06/2013 20/05/2013 08/05/2013 02/01/2013 18/12/2012

34
Period's
Low
57.10 57.10 57.10 54.60 54.60 48.20
Low On 13/06/2013 13/06/2013 13/06/2013 26/03/2013 26/03/2013 27/07/2012


This is the table represent the price gain in high and low period of one & two
weeks, one, two, three and six months & one year. If we see this table we shall find
that the total price for the june month 2013 is highest and july 2012 is lowest.




BALANCE SHEET OF IIFL

Balance Sheet of India Infoline
---------------- in Rs. Cr. -------------------

Mar '12 Mar '11 Mar '10


12
mths
12 mths 12 mths



Sources Of Funds


Total Share Capital 57.80

. 57.28
57.04


Equity Share Capital 57.80 57.28 57.04


Share Application Money 0.00 0.33 0.40


Preference Share Capital 0.00 0.00 0.00


Reserves 1,219.48 1,031.36 1,050.67


Revaluation Reserves 0.00 0.00 0.00


Networth 1,277.28 1,088.97 1,108.11


Secured Loans 16.80 0.56 1.17


Unsecured Loans 0.00 465.00 496.58


Total Debt 16.80 465.56 497.75


Total Liabilities 1,294.08 1,554.53 1,605.86



35

Mar '12 Mar '11 Mar '10



12 mths 12 mths 12 mths


Application Of Funds


Gross Block 130.39 122.33 108.83


Less: Accum. Depreciation 104.28 83.25 60.63


Net Block 26.11 39.08 48.20


Capital Work in Progress 0.11 0.92 1.75


Investments 1,209.26 1,000.09 1,104.22


Inventories 39.54 53.22 53.76


Sundry Debtors 252.90 289.46 577.50


Cash and Bank Balance 457.82 358.06 309.86


Total Current Assets 750.26 700.74 941.12


Loans and Advances 259.54 507.02 516.71


Fixed Deposits 0.00 268.72 251.98


Total CA, Loans & Advances 1,009.80 1,476.48 1,709.81


Deffered Credit 0.00 0.00 0.00


Current Liabilities 947.27 961.65 1,025.81


Provisions 3.92 0.41 232.31


Total CL & Provisions 951.19 962.06 1,258.12


Net Current Assets 58.61 514.42 451.69


Miscellaneous Expenses 0.00 0.00 0.00


Total Assets 1,294.09 1,554.51 1,605.86


Contingent Liabilities
12.
92
2,090.56 24.17


Book Value (Rs)
44.
19
38.01 38.84




36
India Infoline (IIFL) reported strong revenues growth (58.6% y-o-y and 35.3% q-o-q) and steady
PAT growth (12.7% y-o-y and 23.8% q-o-q). Much of the out performance came due to high
growth in financing Income (79.9% q-o-q) which was led by certain extraordinary items.
EBITDA margins stood at 47.8% which is a growth 790 bps sequentially. At CMP of Rs71, the
stock is trading at 1.2 times its FY12 BV. Long term investors would find immense value in the
stock and are recommended to accumulate the stock for a price target of Rs96.


PROFIT & LOSS ACCOUNT

(Rs crore)

Mar ' 12 Mar ' 11 Mar ' 10 Mar ' 09 Mar ' 08
Income
Operating income 548.55 698.95 665.99 542.27 616.11
Expenses
Material consumed - - - - -
Manufacturing expenses - 17.83 14.52 93.32 105.93
Personnel expenses 207.07 188.53 162.62 136.91 128.79
Selling expenses - 170.43 137.18 67.38 67.20
Adminstrative expenses 287.90 135.08 104.83 85.81 91.60
Expenses capitalized - - - - -
Cost of sales 494.98 511.88 419.14 383.42 393.53
Operating profit 53.57 187.07 246.85 158.85 222.58
Other recurring income 76.09 100.92 24.30 29.37 56.33

37

Mar ' 12 Mar ' 11 Mar ' 10 Mar ' 09 Mar ' 08
Adjusted PBDIT 129.66 287.99 271.14 188.22 278.91
Financial expenses 37.86 90.34 13.88 11.15 22.82
Depreciation 31.44 24.08 31.86 25.56 19.44
Other write offs - - - - -
Adjusted PBT 60.36 173.58 225.40 151.51 236.65
Tax charges 11.36 50.14 77.34 47.88 78.39
Adjusted PAT 49.00 123.44 148.07 103.63 158.26
Non recurring items 14.36 -0.31 7.90 -0.03 -29.04
Other non cash adjustments -0.07 -0.76 -3.96 2.23 -0.53
Reported net profit 63.30 122.36 152.02 105.83 128.69
Earnigs before appropriation 237.02 284.70 277.22 228.74 176.10
Equity dividend 43.36 85.92 85.20 79.45 34.26
Preference dividend - - - - -
Dividend tax 7.03 12.76 14.48 13.50 5.82
Retained earnings 186.62 186.02 177.54 135.79 136.01



During Q2FY12, IIFL's Income stood at Rs4,108.6 mn, up 20.9% y-o-y. PAT (before Minority)
stood at Rs225.2 mn, down 59.0% y-o-y. Investment in expansion of gold loan branches, lower
broking margins and higher interest costs impacted results adversely


38




COMPETITORS



Name Last Price Market Cap.
(Rs. cr.)
Sales
Turnover
Net Profit Total Assets
Indiabulls 271.80 8,494.05 2,929.26 723.79 17,797.15
Network 18 34.25 3,584.03 203.06 -29.91 1,624.36
Edelweiss Fin 30.90 2,360.27 156.81 46.79 3,734.42
India Infoline 56.70 1,674.11 548.33 95.81 1,294.09
Delta Corp 52.75 1,196.64 38.95 21.62 672.11
Motilal Oswal F 80.00 1,161.89 46.43 56.30 558.45
SKS Microfin 106.40 1,151.38 332.20 -297.14 850.13
Capital First 160.00 1,136.39 798.15 69.77 4,683.03
Pilani Invest 1,378.00 1,089.83 196.54 158.94 671.69
Kirloskar Broth 1,202.40 635.92 41.57 39.69 261.71
The Byke Hosp 251.85 504.93 100.93 7.76 84.37
Geojit BNP 20.00 456.72 197.84 41.97 378.38
Money Matters 107.05 374.20 1,852.63 74.27 809.60
DB (Int) Stock 97.35 340.73 14.11 6.66 26.85
Nalwa Sons Inv 569.00 292.25 19.44 14.13 311.93
Consol Finvest 31.00 100.22 10.26 7.62 344.61
Aditya Birla 15.60 86.42 65.89 -12.67 98.56

39
Microsec Fin 24.30 77.30 17.77 9.76 214.77
Emkay Global 14.00 34.21 76.51 -7.90 148.64
Dhunseri Invest 53.90 31.56 8.35 6.94 178.19
Keynote Corp Se 29.00 20.35 8.58 3.43 44.27
Transwarranty 7.75 18.96 14.31 -1.09 61.29
Khandwala Se 15.50 18.51 3.13 -0.35 34.08
Indbank Merchan 3.80 16.86 5.25 0.73 40.66
Indo Thai Secu 11.80 11.80 6.97 -0.07 36.05
Lakshmi Finance 22.75 6.83 1.84 0.46 29.00




40
CHAPTER-5

















41




FINDING

Brokerage of India Infoline is higher than others broking firms like Religare, Motilal,
India bulls, they are charging 0.03% for intraday and 0.30% for delivery, where India
Infoline is taking 0.05% for intraday and 0.50% for delivery.


Exposure is less than others firms. India Infoline offers eight time exposure on margin,
where as Religare and India bulls offer twenty times exposure on margin money.\



HDFC, ICICI direct provide their customers three types of account but India Infoline
provides only Demat and Trading a/cs.


Relegate takes Rs. 299 for lifetime services, where as India Infoline takes Rs. 555



India Infoline has hidden charges, dustomers are not much aware about it.



Customer satisfaction of IIFL is not so good. Most of the customers are trading offline.



Most of the people are not much aware of share market and its benefits.

42




RECOMMENDATION.

To increase awareness about share market and the name INDIA INFOLINE itself, the
economy should organize campaign. The campaign can be weekly, monthly, yearly. It
will give a good result to the company to capture market in the competitive position.

The company should reduce the margin money. It can help to acquire more customers, if
the firms bring plans for no boundation of margin money.


Transaction error should be avoided. Transaction should be done properly, taking in
consideration that it is one of the most required qualities of a firm. Wrong transaction or
default transaction may lead the prestige of the company to be down.

The relationship managers focus only to the high margin money customer, because from
them they will get high brokerage that should not be happened from the less margin
money customer.


The company should increase exposure. It is the good tool to capture the market.



43




CHAPTER- 6






44


QUESTIONNAIRE

NAME : CONTACT NO. :
EMAIL ID : OCCUPATION :


i. What is your age ?
a. Above 50 yrs. b. 40 50 yrs. c. 30 40 yrs. d. Below 30 yrs.


ii. When you invest money your primary goal is to :
a. Minimize risk of your wealth losing value
b. Generate current income
c. Take fair level of risk and grow the value of investment moderately over time.
d. Take considerable amount of risk and grow the value of investment substantially over
time.


iii. You are financially responsible for :
a. More than 3 person b. 2 3 person c. 1 person d. only yourself


iv. You typically buy a financial product when :
a. Professional advice b. friend and family advice c. pastime(shares) d. often
impulsive






45
v. The subject of finance and investment is :
a. Exciting b. Good c. Enormously boring
d. Too complex, mathematical


vi. How much time do you spend with your finances? ( banking, stock trading ,investment, tax,
etc.)
a. 1 hr a week or more b. couple of hrs a months c. 2 3 days in a months
d. none


vii. How good is your knowledge about finance and capital market ?
a. No knowledge b. know about FD/NSC/PO c. Know about share market d.
Expert


viii. With expert view on equity ,rate, how much you are interested in equity , commodity,
currency :
Highly interested _ _ _ _ _ _ _ _ _ _ no interest



ix. Are you interested in other investment avenues like :
a. Real estate b. Fix return product c. Bullion Trading d. Insurance & MF









IIFL offer entire gamut of financial services, including wealth management, retail equities, commodities, currency, real
estate, insurance, mutual funds, bonds, etc
www.indiainfoline.com

46
CHAPTER-7




























47




CONCLUSION

I am much thankful to india infoline for providing me the opportunity for doing training
programme in the organization as a management trainee. While doing my Summer Internship
Programme in the reputed share broking firm India Infoline. I had got a change to know and
analyze the share market. I was also able to know about the business environment and business
ethics of the business world.

India Infoline Ltd. Provides the facilities of trade terminal as well as relationship manager
facilities for encouragement and protects the interest of the investors. It also provides the
information through the internet and mobile alerts that what IPOs are coming in the market.
Study also concludes that people are not much aware of commodities market and while it is
going to be biggest market in INDIA.

This is certainly an important aspect, but portfolio management also helps organizations to
identify business value and ensure they are investing in the optimal project portfolios.
In other words,
portfolio management helps you to select the right things and project management
ensures you execute and deliver the projects on time and within budget. Successful
organizations invest in improving both disciplines. Many people believe that portfolio
management just involves effective reporting across project portfolios.




48

CHAPTER-8














49
BIBLIOGRAPHY




Websites :-


www.google .com
www. Indiainfoline.com
www.moneycontrol.com
www.indiabulls.com
www.nse.com
www.5paisa.com




BOOKS SOURCES :-

Financial Management.
(-Khan & Jain)

Principal of financial management.
(-Prassana Chandra)

Business Environment.
(-Francis Cherunilam)

Annual report of India Infoline.