Documente Academic
Documente Profesional
Documente Cultură
WITH REFERENCE TO
RELIGARE SECURITIES LTD.
SUBMITTED BY:
PUSHPENDR KUMAR
M.B.A. - III SEMESTER
(ROLL NO. 0809470078)
ACKNOWLEDGEMENT
I wish to take this opportunity to express my deep gratitude to all the people who have
My first and foremost acknowledgement to God, almighty for the eternal love, guidance
Uttar Pradesh Technical University, Lucknow, to provide me such an opportunity, under the
My thanks to Mr. Sandeep Chaturvedi (Sales manager – Religare Securities Ltd) for
granting me the permission to conduct analysis and also for helping me in study by providing
I would like to express my indebted gratitude Mr. Amit Singh (Relationship Managers)
I would like to extent my sincere thanks to my internal Faculty guide, Ms. Shefali (GIMT)
My sincere thank to all the respondents for making this study possible with their frank and
true opinion.
Finally my unfathomable gratitude to my family and friends for their constant support to
DECLARATION
MANAGEMENT & TECHNOLOGY, hereby declare that this project is the record of
authentic work carried out by me during the academic year 2008-10 and has not been
submitted to any other university or Institute towards the award of any degree.
An attempt has been made by me to provide all relevant and important details regarding
the topic to support the theoretical edifice with concrete research evidence. This will be
helpful to clean the fog surrounding the various aspect of the topic.
PUSHPENDR KUMAR
1. Executive Summary
This study suggests that people are reluctant while investing in stock and commodity market
due to lack of knowledge. There is growing competition between brokerage firms in India.
Research was carried out to find which brokerage house people prefer and to figure out their
preference while investing in stock market. Main purpose of investment is returns and
liquidity, commodity market is less preferred by investors due to lack of awareness and risks
involved. The major findings of this study are that people are interested to invest but they
Through this report we were also able to understand, what are our Company’s (Religare
Securities Ltd.) positive and strong points, on the basis of which we come to know what can
be the basis of pitching to a potential client. We also gave suggestions to the company, what
It gives an insight about the Demat Account, Life Insurance, General Insurance and mutual
funds and theirs various aspects. It is purely based on whatever I learned at Religare
Securities. One can get brief knowledge about mutual funds and all its basics through the
project. Some interesting questions regarding these products have been covered. Some of
them are:
Most popular stocks among fund managers, most profitable sectors for fund managers, a
special report on Systematic Investment Plan, does fund performance persists and the
topping of all the servings in the form of portfolio analysis tool and its application. All the
topics have been covered in a systematic way. The language is simple so that even a layman
could understand. All the quarries of the customer asked had been solved with the support of
Stock Market.
Function.
The emergence of stock market can be traced back to 1830. In Bombay, business
accepted in the shares of banks like the commercial bank, the chartered mercantile bank, the
chartered bank, the oriental bank and the old bank of Bombay and shares of cotton presses.
In Calcutta, Englishman reported the quotations of 4%, 5%, and 6% loans of East India
Company as well as the shares of the bank of Bengal in 1836. This list was a further
broadened in 1839 when the Calcutta newspaper printed the quotations of banks like Agra
bank and Union bank. It also quoted the prices of business ventures like the Bengal bonded
Between 1840 and 1850, less than a dozen brokers existed for the limited business. But
during the share mania of 1860-65, the number of brokers increased significantly. By 1860,
the number of brokers was about 60 and during the period of the American Civil war, their
number increased to about to 250. The end of American Civil war brought disappointment
and many failures and the brokers decreased in number and prosperity. It was in those t times
between 1868 and 1875 that brokers organized an informal association and finally as recited
in the Indenture constituting the “Articles of Association of the Exchange”. On or about 9th
day of July,1875, a few local brokers doing brokerage business in shares and stocks resolved
upon forming in Bombay an association for protecting the character, status and interest of
local share and stock brokers and providing a hall or building for the use of the members of
such association.
As a meeting held in the broker’ Hall on the 5th day of February, 1887, it was resolved to
execute a formal deal of association and to constitute the first managing committee and to
appoint the first trustees. Accordingly, the Articles of Association of the Exchange and the
Stock Exchange was established in Bombay on 3rd day of December, 1887. Now, the
The entrance fee was Re.1 and there were 318 members on the list, when the exchange
was constituted. The numbers of members increased to 333 in 1896, 362 in 1916 and 478 in
1920 and the entrance fee was raised to Rs.1000 in 1896, Rs.2500 in 1916 and Rs. 48,000 in
1920. At present the number of recognized stock exchanges is 23 with about 6000 stock
brokers.
guarantee and 3 are non-profit voluntary organization. Of the total of 23, only 9 stock
exchanges have been permanent recognition. Others have to seek recognition on annual
basis.
These exchanges are run by some persons and with the help of some persons and institution.
Stockbrokers
sub-broker
market makers
They are the members of stock exchanges. These are the persons who buy, sell or deal in
shares and securities. A registration certificate from SEBI is mandatory to act as a broker.
SEBI can impose certain conditions while granting the certificate of registrations. It is
obligatory for the person to abide by the rules and regulations. Stock brokers are floor
9000 24,000
2. Sub-broker
He assists the investors in trading in securities through stockbroker. The broker and sub-
broker should enter into an agreement in which obligations of both should be specifically
mentioned. Sub-broker must be registered with SEBI for dealing in securities. For getting
3. Market Makers
These are designated specialists in the specified securities. They make both bid and
offer at a single time. He is exempt from the margin requirements according to rules and
regulations. As per the listing requirements, where a company’s paid-up capital is Rs. 3 crore
and not more than Rs. 5 crore and it has a commercial operation for less than 2 years should
4. Portfolio consultants
Portfolio managers are presented with investment ideas from internal buy-
side analysts and sell-side analysts from investment banks. It is their job to sift through the
relevant information and use their judgment to buy and sell securities. Throughout each day,
they read reports, talk to company managers and monitor industry and economic trends
looking for the right company and time to invest the portfolio's capital.
market instruments. Whereas the portfolio consultants are the persons, firms or companies
A share market is a market for the trading of publicly held company share and
associated financial instruments including stock options, convertibles and stock index
futures. Conventionally, stock markets were open-protest where trading took place on the
floor of a stock exchange. Most modern stock trading is done in electronic exchanges where
buying and selling occurs through online real time matching of orders placed by buyers and
sellers.
In early times, buyers and sellers were individual investors and businessmen. Markets have
become more institutionalized, now buyers and sellers are largely institutions for e.g.,
pension funds, insurance companies, mutual funds, investor groups, and banks. The rise of
the institutional investor has brought with it an increase of professional meticulousness that
Securities
Conventionally securities have been classified between debt and equity securities. It is also
categorized between bearer and registered securities. They comprise of shares of corporate
stock or mutual funds, bonds issued by corporations or government agencies, stock options
or other options, other derivative securities, limited partnership units, and various other
formal investment tools. Through banknotes, checks and some bills of exchange do not fall
into this type. Commodities like oil, food grains can also be called securities. One can buy or
Initially the term securities were used to signify security interests like mortgages and
charges supporting the payment of a debt or other commitments. In early modern Europe,
companies and government agencies began to increase capital from the public using secured
debt obligations, which came to be known as “Securities”. As shares became more readily
transferable from the Victorian era, their functional similarity to debt securities became
clearer, and both forms of investment became known as “Securities”. More recently, the term
has also been extended to include units in investment funds and other forms of readily
transferable investment.
Stock Market
The Stock Market is a place for trading of company shares, stocks and stock index
futures. Investing your money in stock market trading requires certain knowledge of stock
market basics and value investing. Now stock market trading is possible by investing online
and developing your portfolio through investments in good companies. Price movements of
stocks are available on various stock market indices. Share trading could be either buying or
selling of securities
Stock Market functions either through share trading on the stock exchange floor or
electronically. You instruct your stock broker to purchase or sell shares of particular
company. He then informs floor clerk of exchange, who finds a suitable buyer. After
completing deal, stock broker gets back to you with final price of your investments. Mutual
funds and other institutional investors prefer electronic exchange for stock buying and
selling. Such online investing enables closer contact with share trading although you need
services of stock broker, who offers valuable investing advice and investment tips.
As with any other investment instrument, investments in stocks are also full with
risks and benefits. Benefits come in two forms – dividend from the company and better
utilization of stock price, if you decide to sell it. Usually, these two go hand in hand. A high
dividend paying company ‘usually’ commands higher stock prices. Risks also knock the door
in two forms – you may not get dividend, and you may not be able to sell your stocks at a
higher price than purchase price. Compare this with a government bond where your risk is
You need a broker to invest your money in stocks. If you feel that you don’t possess
enough knowledge of this industry, its better to appoint a full service broker. He is the one to
offer you his advice on how much and where to invest. If you are very comfortable with the
stock market, opt for a discount broker, and have your money invested through him.
Investment plans through technical analysis uses various mathematical charts to predict the
future price movements of stocks in the market. It does not consider total economic setup or
companies through balance sheets, management, and growth rates. These indicate future
It maintains active trading: Shares are trading on the stock exchanges, enabling the
Fixation of price:- Price is determined by the transaction that flow from investors’
Ensure safe and fare dealing: The rules, regulations and by-laws of the stock
Aids in financing the industry: A continuous market for shares provides a favorable
climate for raising capital. The negotiability and transferability of the securities helps
the companies to raise long-term funds, when it is easy to trade the securities,
publications. They publish the share prices traded on daily basis along with the
volume traded.
Performance inducer: the price of stocks reflect the performance of the traded
companies. This makes the corporate more concerned with its public image and tries
Self regulatory framework: the stock exchanges monitor the integrity of the
members, brokers, listed companies and clients. Continuous internal audit safeguards
the investors against unfair trade practices. It settles the disputes between member
There are Two major stock exchanges that operating in India are:
The National Stock Exchange of India (NSE)is the largest financial market in India in
terms of daily turnover and number of trades for equities and derivative trading. There are
thousands of securities listed on the NSE, with a market capitalization of over $1.46 trillion
dollars. The NSE is owned jointly by a number of banking institutions and insurance
companies with the mission of providing a fast, electronic routing of orders throughout
India. Lastly, the NSE was the first financial system in India providing electronic limit
Origins:
It was promoted by leading Financial Institutions at the behest of the Govt. of India
and was incorporated in Nov. 1992 as a tax-paying corporation. In April 1993, it got the
(WDM) section in June 1994. The Capital Markets (Equities) segment commenced
operations in Nov. 1994 and operations in Derivatives segment started in June 2000.
Innovations:
NSE has remained in the forefront of modernization of India’s capital and financial
Co-promoting and setting up of National Securities Depository Ltd, first depository in India.
NSE pioneered commencement of Internet Trading in Feb.2000, which led to the wide
History
The NSE was incorporated in 1992 as a tax-paying entity. However, the origins of
the NSE can be traced back to the Securities Contracts Regulation Act of 1956. In this act,
the Indian government sought to create a financial market where investors can invest safely
1980: NSE replaced its physical trading floor with a completely automated market,
1986: NSE introduced the first automated exchange interface with the Inter market
Trading System (ITS), which enabled its members to interact electronically with all
other markets to get the best possible execution prices for their public customers.
environment. This model allowed member firms to provide public customers with
1993: NSE was the first exchange to develop a complete electronic order audit trail
1998: NSE created the first market data revenue-sharing program, which has saved
2006: NSE introduced its new business plan culminating in the launch of NSX
BLADE, an entirely new state-of-the-art technology platform built from the ground
up.
The NSE is responsible for a number of trading markets. Below is a list of these
markets
Equity Markets
Mutual Funds
NSE TECHNOLOGY
The NSE is using a satellite communication technology to support trading for over
320 cities throughout India. The National Stock Exchange has the capacity to process over 6
million trades per day. The NSE all supports one of the largest VSAT (Very Small Aperture
satellite Terminal) networks in the world. There are over 3.000 VSATs on the NSE network
1875. Bombay Stock Exchange is the oldest stock exchange in Asia with a rich heritage, now
spanning three centuries in its 133 years of existence. What is now popularly known as BSE
was established as "The Native Share & Stock Brokers' Association" in 1875.
Over the past 133 years, BSE has facilitated the growth of the Indian corporate sector by
India which has not sourced BSE's services in raising resources from the capital market.
Today, BSE is the world's number 1 exchange in terms of the number of listed companies
and the world's 5th in transaction numbers. The market capitalization as on December 31,
2007 stood at USD 1.79 trillion. There are approximately 4700 companies in the country
BSE provides an efficient and transparent market for trading in equity, debt
instruments and derivatives. It has a nation-wide reach with a presence in more than 359
cities and towns of India. BSE has always been at par with the international standards. The
systems and processes are designed to safeguard market integrity and enhance transparency
in operations. BSE is the first exchange in India and the second in the world to obtain an ISO
9001:2000 certification. It is also the first exchange in the country and second in the world to
BSE also has a wide range of services to empower investors and facilitate smooth
transactions:
investors. BSE was the first exchange in the country to provide an amount of Rs.1
million towards the investor protection fund; it is an amount higher than that of any
The BSE On-line Trading (BOLT): BSE On-line Trading (BOLT) facilitates on-line
basis the price movements, volume positions and members' positions and real-time
alerts.
BSE Training Institute: BTI imparts capital market training and certification, in
collaboration with reputed management institutes and universities. It offers over 40 courses
on various aspects of the capital market and financial sector. More than 20,000 people have
Organization Structure
Management Profile
OVERVIEW OF THE COMPANY
Late Dr. Parvinder Singh (ex CMD Ranbaxy) was a true leader -- practical and realist
– and yet, talked the language of a visionary and an idealist. For it was his vision to start
integrated financial services driven by the relationship of trust and confidence. From here
Religare Securities Limited, a Ranbaxy Promoter Group Company started its operations.
To realize its vision, the Religare group has taken one step ahead. Today, Religare
provides various financial services which include broking (stocks & commodities),
Unlike a traditional broking firm, Religare group works on the philosophy of being
“Financial Care Partner”. Company not only executes the trades for their clients but also
provide them critical and timely investment advice. The growing list of financial institutions
with which Religare is empanelled as an approved broker is a reflection of the high level
a highly skilled team, who have proven track record in their respective domains. Through its
regional, zonal and branch offices, Religare has the widest reach and is available to you
Religare Finvest Limited, Religare Commodities Limited and Religare Insurance Advisory
Services Limited provide integrated financial solutions to its corporate, retail and wealth
management clients. Today, Religare provides various financial services which include
Today, Religare has a growing network of more than 150 branches and more than
300 business partners spread across more than 180 cities in India and a fully operational
international office at London. However, their target is to have 350 branches and 1000
business partners in 300 cities of India and more than 7 International offices by the end of
Cr.
Name Designation
Malvinder Mohan Singh Non Executive Chairman
Ravi Batra Sr. Vice President & Company Secretary
Other Details
Limited is a leading equity and securities firm in India. The company currently handles
sizeable 4-5 % volumes traded on NSE and in the realm of online trading and investments; it
currently holds a reasonable approx 8% share of the market. The major activities and
offerings of the company today are Equity Broking, Depository Participant Services,
Institutional Broking and Research Services. To broaden the gamut of services offered to its
investors, the company offers an online investment portal armed with a host of revolutionary
features.
Religere securities ltd (RSL) is a member of the National Stock Exchange of India
such incisive services to specific user segments it has also started the Non Resident
These groups take all the portfolio investment decisions depending upon a client’s
Religare has a very credible Research and Analysis division, which not only caters to
the need of our Institutional clientele, but also gives their valuable inputs to
investment dealers.
Religare is one of India’s largest and fastest growing integrated financial services
institutions. The company offers a large and different bunch of services ranging from
personal finance services, Investment banking and institutional broking services. The
services are broadly clubbed across three key business verticals- Wealth management, Retail
and the Institutional spectrum. Religare Enterprises Limited is the parent company for all its
Religare’s retail network spreads across the length and breadth of the country with its
presence through more than 900 locations across more than 300 cities and towns. Having
spread itself fairly well across the country and with the promise of not resting on its success,
company started its effort in the financial market. Religare Enterprises Limited through
Religare Securities Limited, Religare Finvest Limited, Religare Commodities Limited and
Religare Insurance Broking Limited provides integrated financial solutions to its corporate,
retail and wealth management clients. Today, we provide several financial services which
include Corporate Finance, Portfolio Management Services, Equity & Commodity Broking,
skilled team, who have proven track record in their respective fields. Religare operations are
managed by more than 3000 highly skilled professionals who subscribe to Religare
Religare group works on the philosophy of getting together for wealth creation. We not
only perform trades for our clients but also provide them decisive and timely investment
advice. The rising list of financial institutions with which Religare is empanelled as an
approved broker is an indication of the elevated level service standard maintained by the
company.
Religare Securities Ltd. provides platform to all segments of the investor to leverage the
immense opportunity offered by equity investing in India either on their own or through
The ARN No. of the Religare Securities Ltd. is 33764. The ARN No. is required by
to be available with the broker who deals on behalf of investors or sell the mutual funds of
Vision
To be India's first Multinational providing complete financial services solution across the
globe.
Mission
Providing complete financial care driven by the core values of diligence and
and confidence Religare team is led by a very eminent Board of Directors who provide
policy guidance and work under the active leadership of its CEO & Managing Director
Name
Religare is a Latin word that translates as 'to bind together'. This name has been chosen to
reflect the integrated nature of the financial services the company offers.
Symbol
The Religare name is paired with the symbol of a four-leaf clover. Traditionally, it is
considered good fortune to find a four-leaf clover as there is only one four-leaf clover for
Good Fortune.
The first leaf of the clover represents Hope. The aspirations to succeed. The dream
The second leaf of the clover represents Trust. The ability to place one’s own faith
goal with the balance that brings satisfaction to all, not in the binding, but in the
The third leaf of the clover represents Care. The secret ingredient that is the
cement in every relationship. The truth of feeling that underlines sincerity and the
triumph of diligence in every aspect. From it springs true warmth of service and
The fourth and final leaf of the clover represents Good Fortune. Signifying that
rare ability to meld opportunity and planning with circumstance to generate those
Hope. Trust. Care. Good Fortune. All elements perfectly combine in the
emblematic and rare, four-leaf clover to visually symbolize the values that bind
RCL is a member of NCDEX and MCX and provides platform for trading in
commodities, which is an online facility also. RCL provides platform to both agro and non-
agro commodity traders to derive the actual price of the commodity and also to trade and
With these realizations, Religare Commodities is coming up with its branches at mandi
locations. It is a flagship effort from our team which would be helpful in facilitating trade
Religare is on the fast and ambitious growth trajectory with some interesting plans in
the pipeline. Religare Aegon Life Insurance - Life Insurance Company, a Joint Venture with
Aegon. Religare Aegon AMC - Asset Management Company, a Joint Venture with Aegon
.Religare Finance - Personal Loans / Credit Cards / Loan against Property / Mortgage &
Reverse Mortgage.
We serve you with a diligent, transparent & process driven approach and ensure that
Religare PMS comes to you from Religare, a Ranbaxy promoter group company with
a solid reputation for an ethical and scientific approach to financial management. While we
offer you the services of a Dedicated Relationship Manager who is at your service 24x7, we
do not depend on individual expertise alone. For you, this means lower risk, higher
dependability and unhindered continuity. Moreover, you are not limited by a particular
No hidden profits
through external broking houses. This means that your portfolio is not churned needlessly.
Using more broking firms gives us access to a larger number of reports and analysis,
Daily disclosures
Religare Portfolio Management Services gives you daily updates on your investment.
You can pinpoint where your money is being invested, 24x7, instead of waiting till the end of
So sure are we of our approach to Portfolio Management that we do not charge you
for our services, until your investments start showing profit. With customized investment
options Religare Portfolio Management Services invites you to invest across five broad
MANAGEMENT PROFILE
Organization Structure:
Religare is led by individuals who are professional leaders and are committed to
Each of the individual works constantly towards Religare’s objective of “India’s first
work under the active leadership of its CEO & Managing Director and support of its Central
Guidance Team.
Mr. Sunil Godhwani is the driving force behind the company. A man with a vision to create a
management and global operations; strategizing and directing it through its next phase of
growth. He oversees the service brands of the promoters which include Religare Enterprises
(integrated financial services) along with Religare Technova (IT), Religare Wellness
(formerly Fortis Health world), Super Religare Laboratories (formerly SRL Ranbaxy; Path
Labs) and Religare Voyages (private air charter and travels business).
Mr. Godhwani brings to the company strong leadership skills, vigour and a passion for
customer focused and based on teamwork. He has a diverse and wide-ranging experience of
He has been instrumental in establishing Religare’s vast network and shaping the Company’s
strategies in India and abroad. He is on a constant lookout for taking the Company to new
heights by managing various acquisitions, finding new partners for joint ventures and
Company Limited, Religare Technova Limited, Religare Venture Capital Limited, Super
Religare Life Insurance Company Limited, Vistaar Religare Capital Advisors Limited,
Mr.Ashu Madan
President - Equity Broking
Religare Securities Limited
Mr Ashu Madan carries the overall responsibility for Religare’s retail equity broking
business. A keen observer of markets and trends, he keeps retail clients abreast with all the
latest news and information in the equity markets and guides them through a bull or bear
rule.
Ashu has been with Religare for the past 8 years. In his current capacity he envisions and
drives the business for retail equity broking and has been one of the driving force & pillars
behind it.
Prior to joining Religare, he was with Western India Group as the Assistant Vice President
and held several key positions there from 1994 to 2001. He has over 18 years of experience
customer base and has a reach in top 50 cities in the country. It is today one of the top three
Prior to this, Gurpreet was part of the Business Strategy team. He has positively contributed
of the top financial portals in the country. This is the fastest possible launch across 50 cities
Gurpreet has an experience of more than 15 years to his credit. He is a qualified B.Com
graduate and a Chartered Accountant. Prior to joining RSL in 2004, Gurpreet was associated
with companies like Abhipra Capital Ltd, Elite Stock Management and a reputed CA firm.
MARKETING MIX
➢ GROUP SERVICES
Equities and Derivatives:
A highly process driven, diligent approach backed by powerful Research & Analytics
and state of the art dealing rooms ensures superlative experience. Further, Religare
also has one of the largest retail networks, with its presence in more than 900
locations across more than 320 towns & cities. Religare provides branch trading and
each and every client is assisted by its highly skilled and dedicated relationships
managers. It also provides the freedom of trading at clients place by online trading.
Depository Services
worth more than Rs.6000 crore under its management. RSL (Religare Securities
(India) Limited (CDSL) and clearing house / clearing corporation of stock exchanges.
PORTFOLIO MANAGEMENT
A portfolio manager is a person who makes investment decisions using money other people
have placed under his or her control. Portfolio managers are presented with investment ideas
from internal buy-side analysts and sell-side analysts from investment banks. It is their job to
sift through the relevant information and use their judgment to buy and sell securities.
Throughout each day, they read reports, talk to company managers and
monitor industry and economic trends looking for the right company and time to invest
of each investor.
• PMS gives investor direct ownership of the individual securities in the portfolio
BENEFITS OF PMS
• Professional Management:
• Continued Monitoring:
• Research Support:
A research team responsible for establishing our investment strategy and providing us
The foundation of every financially sound portfolio is the ability to identify one’s
investment objective. It’s a process that requires expertise. Religare Securities Ltd.
provides every investor a Relationship manager who comes with the required
• Transparency
A dedicated website allows you access to all information relating to your investment.
You will also receive quarterly account performance statement on the overall status
1. RACE-Basic
http://religareonline.com/ and is suitable for the retail investor who is risk-averse and
hence prefers to invest in stocks or who do not trade too frequently. And this account
need refresh after one minute to see current position of the stock market.
Features
Provision to enter price trigger and view the same online in market watch.
1. RACE-Lite
Religare Advance Client Engine (RACE) Lite is a web based or browse based
account. It is suitable for high investors who invest a large amount in stock exchange
regularly. It shows the current market position automatically and have the following
feachers:
1. RACE-PRO
This account allows client to use ODIN software which is an internet-based
software application that enables you to buy and sell in an instant. It is ideal for active
traders and jobbers who transact frequently during day’s session to capitalize on intra-day
price movement.
Features
Technical Studies.
Multiple Charting
It is auto updated.
➢ Pricing:
Price is the most important factor for gaining market share. In this highly competitive
market price plays an important role in retaining customer. Whether it is account opening
price, or brokerage. Though brokerage is not fixed, it is flexible; in this industry service is
Special rate of
Minimum balance
require Rs.5000/- Rs.5000/- Rs.5000/-
There are prepaid brokerage plan in Religare Securities Ltd. There are three types of prepaid
brokerage plans namely- Classic plus, Trump plus, Trump super that are suitable according
NOTE:-
Exposure: 8 to 20 times (on margin money) for intraday and 4 times on delivery.
Tie up with ICICI, AXIS, HDFC, CITI and Corporation Bank, Andhra Bank and
Time+2 days settlements followed which can further extend to Time +5 days.
In the financial sector Religare has positioned itself as a focused low cost service provider.
As many of its competitors are struggling in this highly competitive market Religare through
transparency in its pricing strategy has gained its market share. Moreover in this secondary
market there are very few customers who get attracted of less charges, mainly it’s the service
➢ Place
Religare securities entered the market, when companies like India bulls and motilala
oswal has established themselves as market leaders. Ranbaxy brand name helps Religare to
make its presence feel in the financial market. Funds were not the issue, therefore Religare
targeted mass market. Opening branches in untapped areas has provided Religare with a
large customer data base. This P of Religare’s marketing mix is an advantage over its
competitors.
Religare’s retail network spreads across the length and breadth of the country with its
presence through more than 1550 locations across more than 460 towns & cities. Having
spread itself fairly well across the country and with the promise of not resting on its laurels, it
has also aggressively started eyeing global geographies. We have a growing network of more
than 300 branches and more than 580 business partners spread across more than 300
Ranbaxy being the umbrella brand has helped Religare to promote under the cover of
Ranbaxy. As we know price is not the factor in this industry, Religare has positioned
Religare has shown its responsibility towards people. They have started a campaign called
“SAVE PAPER SAVE EARTH” in which they decide to send electronic contract
notes. Religare Enterprises has reduced its power costs by 30-35% by incorporating three
modular data centers. IBM has designed the green data centres for Religare in Delhi, Noida
and Mumbai as part of the $3.1 million agreement signed with the company. Leveraging
such technologies like high density computing, virtualization and precision air-conditioning,
Religare expects a saving of more than 3600 units (KWH) per day in power consumption. In
Broking sector has consumer class of Brand switchers, to maintain long time relationship
with customers Religare has taken a step to send greetings to their customers. Religare is not
incurring much on advertising, there is no Brand ambassador and very few ads of Religare
securities are aired on television. Share market is an addiction; therefore, there is no need to
give any demonstration. However at recent times there is an urgent need to inform customers
about how to invest during recession. They believe more on word of mouth advertising.
Religare have many subsidiaries under its brand name and every single individual company
also promotes itself differently. The following are various ways through which Religare
promotes itself -:
Hoarding
TV ads
Pamphlets
Franchise promotion
Canopy
After studying the market mix of RSL ( Religare Securities Ltd. ), We have developed a
small promotional plan to promote our Branch in Noida . This will help our branch to spread
awareness about investing during a global slowdown. And to tap the potential investors in
We have to divide the consumer market in nearly areas like Noida, Sector-62, 58, 64,
Phase- II, etc. on the basis of their occupation and income. Through segmentation we will get
four categories.
Brand switchers.
1. TARGET MARKET
1. POSITIONING:
In amidst of Global recession, we have to position our brand and branch by imparting
Knowledge and awareness regarding Indian share market and the role of Indian economy. If
we compare the growth rate of India with other countries than India stands on the top. In
India recession is in the mind of customers. Or we can say India is suffering from
psychological recession.
Brand positioning of making consumer identifies the branch and the brand as a
2. PROMOTIONAL TOOLS
Pamphlet Distribution
WITH
WHEN
Religare securities limited, Plot No. 5, Mahadevi chambers, BN Block Shalimar Bagh New
Delhi-110088 M – 9312959532 T – 011 – 4553555, www.religare.in
PAMPHLET DESIGN 2
COMPARATIVE ANALYSIS :
Before going for comparative analysis we should know some important terms:
1. DEMAT ACCOUNT:
offer the securities in both physical and demat mode, there is choice to receive the securities
in either mode. So it is just like a bank account where actual money is replaced by shares.
2. SHARE:
its holder to be one of the owners of the company. A share is issued by a company or can be
markets. In primary markets, securities are bought by way of public issue directly from the
COMPARATIVE ANALYSIS :
This comparative analysis is being done between Religare, ICICI Direct, India Bulls and
India Infoline. Specifically in the Noida area, as these are the major players in this area.
Other players like Kotak and Karvy, hardly exists. Moreover the do not pose any major
threat to Religare.
Strengths Opportunities
It is a Ranbaxy promoter Financial services sector in
Company India is growing by leaps and
bounds.
Very diverse products and a
very trusted brand in financial Growing awareness among
sector youth.
Advantages of Religare
1. Religare gives interest on unutilized cash when investor is waiting to make next trade
or online investment.
2. Religare Allow their investor to trade without having to worry about cash margin.
Investor can get exposure (on cash segment) as high as 20 times for intraday trades.
account.
There are various unique selling points of Religare Securities Ltd. For demat account. The
Provide online and offline trading facility by portfolio manager, customer care, Toll
free number.
Give reward point when Rs-2000/- brokerage generated by the investor. Gives Rs.
250/- coupon.
ICICI DIRECT
of ICICI Bank Limited and the Website is owned by ICICI Bank Limited. ICICIDirect (or
ICICIDirect.com) is stock trading company of ICICI Bank. Along with stock trading and
trading in derivatives in BSE and NSE, it also provides facility to invest in IPOs, Mutual
stocks in BSE and NSE. This account allows Cash Trading, Margin Trading, Margin
PLUS Trading, Spot Trading, Buy Today Sell Tomorrow and Call and Trade on
phone.
ICICIDirect.com website is the primary trading platform for this trading account.
They also provide installable application terminal based application for high volume
trader.
Along with stock trading and IPO investing in BSE and NSE, Wise Investment
account also provide options to invest in Mutual Funds and Bonds online.
Mutual Fund companies. ICICI Direct offers various options while investing in
Mutual Funds like Purchase Mutual Fund, Redemption and switch between different
existing Mutual Funds in to electronic mode. This account also provides facility
to invest in Government of India Bonds and ICICI Bank Tax Saving Bonds.
ICICIDirect.com website is the primary tool to invest in Mutual Funds, IPOs, Bonds
allows investor to use online and offline stock trading. It also provides with
demat transaction charges, service taxes and courier charges for contract notes. It
ranges from 0.1% to 0.15% for margin trades, 0.2% to 0.425% for squared off trades
Restriction
The sale of shares purchased is restricted to T+1 day and is not permitted on T+2.
Delivery is restricted to the total money allocated into the trading account.
Weakness Threats
India Infoline.com Securities Pvt. Ltd. is a wholly owned subsidiary of India Infoline.com
Ltd and is the stock broking arm of India Infoline.com. The subsidiary was formed to comply
with regulatory guidelines. www.5paisa.com is a focused website for online stock market
trading. 5paisa.com is a trade name owned by the India Infoline.com group. IILSPL has
applied for trading membership of the BSE under Securities and Exchange Board of India
IILSPL is in the business of providing broking services online via the Internet ("E-broking
Services") and has been permitted by the NSE by way of registration permission no:
the BSE, to provide E-broking Services to its clients. IILSPL is a TRADING MEMBER of
Internet)
DEMAT POLICY:
0.5 % on delivery.
No negotiation on brokerage.
Indiabulls Securities Limited was incorporated as GPF Securities Private Limited on June 9,
1995. The name of the company was changed to Orbis Securities Private Limited on
December 15, 1995 to change the profile of the company and subsequently due to the
conversion of the company into a public limited company; the name was further changed to
Orbis Securities Limited on January 5, 2004. The name of the company was again changed
to Indiabulls Securities Limited on February 16, 2004 so as to capitalize on the brand image
of the term “Indiabulls” in the company name. ISL is a corporate member of capital market
& derivative segment of The National Stock Exchange of India Ltd. At present, ISL accounts
for approximately 3% of the total daily turnover of the Exchange with 32,359 client
relationships and 70 branches spread across the country as of April 30, 2004.
valued at Rs. 263 crore with the Rs. 87.6-crore infusion. Indiabulls Credit Services Ltd,
the recently formed subsidiary of broking firm, Indiabulls Financial Services Ltd. Faralon
Capital, a San Francisco-based private equity fund, and its affiliates have acquired 33.3
INDIABULLS REAL ESTATE:- Indiabulls through its group companies has entered
Indian Real Estate business in 2005. It is currently evaluating several large-scale projects
worth several hundred million dollars. Indiabulls became the first company to bring FDI
Insurance
Commodity trading
Depository Services
Derivatives Broking Services
Strengths Opportunities
➢ ICICI Direct.com
➢ Kotak Securities.com
➢ India Bulls
➢ HDFC Securities
➢ 5paisa.com
➢ Motital Oswal
➢ IL&FS
➢ Karvy
➢ Smc
4. RESEARCH METHODOLOGY
Objective of Research
Types of Research
Sampling
Survey method.
OBJECTIVE OF RESEARCH
Question through the application of scientific procedure. But the main aim of our research to
find out the truth that is hidden and which has not been discovered as yet. Our research study
PRIMARY OBJECTIVE: -
To find out whether RELIGARE is a better service provider than ICICI, INDIA
To find the areas where Religare need to improve to compete with its competitors.
SECONDRY OBJECTIVE: -
To know about the corporate world’s working environment and to enhance our
potential.
Research Problem
To get the answer of following questions, a research has been conducted to fond
following problems:
Market.
To study about the effectiveness & efficiency of Religare Securities Ltd. in relation
to its competitors.
To study about whether people are satisfied with Religare Services & Management
System or not.
To find the areas where Religare need to improve to compete with its competitors.
TYPES OF RESEARCH
On the basis of theoretical study a research has many types. All of these are distributed
Descriptive Research:-
kinds. The major purpose of descriptive research is description of the state of affairs as it
exists at present. Researcher has no control over the variables of this type of research.
Qualitative Research:
based on all qualitative data. In short, Qualitative research is especially important in the
behavioral sciences where the aim is to discover the underline motives of human behavior.
Through such research we can analyses various factors which motivate to people to behave
Quantitative research:
is applicable to phenomena that can be expressed in terms of quantity. So we can use it in our
Primary Data is the is the gathered for first time by the researcher collection of
primary data is task demanding a technical expertise. I Was collected primary data by :
Tally Calling is also done with reference to the database maintained by ourselves
observers.
Secondary data are those data which have been already collected and analyzed by
someone earlier agency for its own use and same data use by a different agency. I was
Sample design
“A sample design is a definite plan for obtaining a sample from a given population. It
refers to the technique or the procedure the researcher would adopt in selecting item for the
Sampling units - Sampling unit may be a geographical one, such as state, district, village
etc. The researcher will have to decide one or more of such units that he has to select for his
Sampling Units: Residents of Noida and some part of Delhi (10,000 approx)
Size of sample -“This refers to the number of items to be selected from the universe to
constitute a sample” In my research sample size is 75
I also study the other 3 stock broker companies related to security & commodity market like
India-Infoline, ICICI direct, and India bulls. for the appropriate collection of the information.
Survey Method: -
Survey refers to the method of securing information concerning phenomena under study
from all or selected number of respondents of the concerned area. In a survey the investigator
examines those phenomena which exist in the universe independent of his action. I used the
Scheduling Method.
put to them the questions from the Performa in the order the questions are listed and recorded
the replies in the space meant for the same in the Performa.
ANALYSIS OF DATA
Demography
There are various demographic factors of the respondent. It is taken because of that this
sample can be true representative of the population in Noida and some part of Delhi.
1. Gender
1. Age Group
1. occupation
GENDER
Male 65
Female 10
In the sample size of 75, I could be able to reach enough no working male and female who
As we know very well the age group of 30-50 in India how this has effect investment
decision.
As we can see here the no. of respondent in category of 30-50 is who are high in number of
Occupation
According to the occupation we can know about the financial status of the respondent. All
the respondents are belonged to either from Government Employees, Private Sector
Employee and Business Employee. According to their occupation, Tables and Graphs are
followings.
Occupation
Kind of Employment No. of Respondents
Govt. Employee 18
Private Employee 38
Business Employee 19
There are are large investors from private sector. As the economy is booming, the salary per
employee is increasing rapidly so there are big segment of the private employee. Now
INCOME LEVEL
The income level factor affects the investment decisions of an individual’s to the maximum
extent. From this analysis we can know about people perception that belongs to a particular
income group.
Question:
YES NO
Know about (fig) 55 20
Know about (per) 73.33% 26.67%
60
73.33%
50
40
30
C
n
u
o
t
55
26.67%
20
10 20
0
yes no
Do you knowabout investment options available?
Analysis
The bar graph above gives a clear picture that out of 75 respondents, 55 that are 73%
are aware of investment options available in the market. The purpose of this question was to
know whether people are aware where they can put their money so that they can get good
returns.
Question:
Preferred 26 4 32 13
alternative(fig)
Preferred 34 5 42 17
alternative(per)
Analysis:
The above pie chart shows that 34% of the respondents prefer insurance and mutual
funds to invest their money, Real estate sector is the least preferred due to the current
slowdown. The selected area of survey was near broking houses that is why maximum
people preferred equity, because it gives quick returns. People opted for insurance because
Question:
Analysis
The above pie chart shows 45% of respondents invest for high returns, those who
Question:
Preferred 13 7 33 22
mode(fig)
Preferred 17 9 44 29
mode(per)
40
44.0%
30
29.33%
20
C
n
u
o
t
33
17.33%
22
10
9.33%
13
0
software web based portal telephone sitting with RM
You trade in stock market through:
Analysis
The above graph shows that 44% respondents prefer to trade through telephone, after that
most of them were walk in clients who sits with Relationship Manager. ICICI is the main
Question:
No. of Respondent 21 30 20 4
Analysis:
There are a large number of investors who trade weekly; Religare products are also
according to investors like RACE-pro are suitable for daily or weekly investors and RACE-
lite for monthly and yearly investors. So Religare most emphasis on the daily and weekly
investors.
Question:
Investment Up to 10 % Up to 25 % Up to 50 % Above 50 %
No. of Respondent 48 19 5 3
Analysis:
This shows that most of the people invest only up to 10% of their earnings in the
stock market, it shows the reiterating the volatile and non-transparent structure of the Indian
stock market. Hence, effective and efficient steps should be undertaken to woo the customers
Question:
25 32.0%
26.67%
20
25.33%
15
16.0%
tC
n
uo
24
10 20
19
12
5
0
religare ltd indiainfoline ICICI direct indiabulls
In which company you have a D-MAT account?
Analysis
Religare has the maximum market coverage in comparison to its major competitors with a
32% share. That is out of 75, 24 respondents have their account in religare. India bulls
though losing its marking ranking still has a share of 26 %. ICICI due to its brand name in
Question:
Are you satisfied with your present broking company? * In which company you have a
Ba
rCh
art
2
0 Inwhichcompany
youh
a veaD-MAT
2
4.0
% acc
o u
nt?
re
lig
areltd
in
dia
info
lin
e
2
0.0
% IC
ICId
ire
ct
1
5
1
8.6
7% in
dia
bulls
1
3.3
3%
C
1
0
n
u
o
t
8
.0%
6
.67
% 6
.67
%
5
2
.67
%
0
y
e s n
o
A
reyous
a tis
fie
dwithy
o u
rpre
sentb
roking
compa ny
?
Analysis
52% respondents are satisfied with their broking house, out of which 24 % belongs to
Religare. Close to religare lies ICICI (18%), only 2 % respondents are satisfied with India
Question:
What is the reason? (Whether Yes Or No) * In which company you have a DEMAT account?
Cross tabulation
25 In which company
you have a D-MAT
8.0% account?
religare ltd
20 indiainfoline
10.67%
ICICI direct
indiabulls
8.0%
15
5.33%
C
n
u
o
2.67% 2.67%
t
2.67%
10 12.0% 12.0% 12.0% 5.33%
6.67%
5 5.33%
2.67%
0
services No hidden Hidden cost Effecient Ineffecient
cost equity equity
research research
What is the reason?( Whether Yes Or No)
Analysis
28% of respondents are satisfied because of good services, out of which 12 % belongs to
Religare followed by ICICI and India bulls with 8% each. Religare is ruling the market
because of its transparency .However the research team of ICICI is more efficient than
Religare.
India Infoline is not liked because of its hidden costs. Therefore it holds 4th position, while
Question:
Do you get confirmation call for your day to day transaction? * In which company you have
a DEMAT account?
24 12 19 20 75
Total
Bar Chart
25 Inwhichcompany
youhaveaD-MAT
29.33% account?
religareltd
20 indiainfoline
ICICI direct
indiabulls
21.33%
15
17.33%
C
n
u
o
t
1
10
10.67%
1
9.33%
1
5 5.33%
1 4.0%
1
2.67%
1
1
1
0
Yes No
Doyouget confirmationcall for your dayto
daytransaction?
Analysis
Every day after trading Hours Company makes a call to its customers to confirm their
transactions of the day. This is very important service which every customer seeks. The
above bar chart clearly shows that 65% of respondents agree that they get confirmation call.
More than 90% of religare customer got confirmation call. ICICI is the only company which
is very close to religare. Other two companies are not efficient enough in providing this
service.
Question :
Are you satisfied with the execution of your shares? * In which company you have a
DEMAT account?
25 Inwhichcompany
youhaveaD-MAT
29.33% account?
religareltd
20 indiainfoline
ICICI direct
indiabulls
20.0%
15
C
n
u
o
t
13.33% 13.33%
10
10.67%
5 5.33% 5.33%
2.67%
0
Yes No
Areyousatisfiedwiththeexecutionof your
shares?
Analysis
Proper execution of shares is of supreme importance from trader’s point of view. Again more
than 90% of Religare’s customers are happy with executions of their share. 70 % respondents
are satisfied out of which 30% belongs to religare. India Infoline is again failed to satisfy its
Question: Are you satisfied with the back office services, like collection of cheques,
delivery of contract notes etc?
As the above diagram is showing that most of customers of Religare Securities ltd. Are
satisfied form it’s offline services and ICICI’s customer are also satisfied but the others are
1. LEARNINGS
During this training I have learned the practical aspects of financial market. In my summer
training I have got lot of knowledge & exposure from this company. The main point which I
In my summer training I get the exposure of corporate world as well as I learn many
In my Executive training I face to many customers so that i find that how to face the
customer in the real world. I read many more regarding client but when I face them I
I have done many meeting in this new city and I learn the process to find any address
initially when I entered in this city I takes lot of time to find any address but now I
Initially when I meet to customers I feel very fear that he can ask any question & I
didn't have full knowledge of this organization but know I have full knowledge but I
I know how does sales effect the whole organization if sales persons are not doing
Attended meetings in which I had to give the demo of the software of the company
Other Learnings
We also learned about the document required to open different type of d-met account
Individual account
• 3 photographs
• Add. Proof (Electricity Bill, Voter card, Ration card, Driving License., MTNL bill of
Non individual
• All directors Pan Card photocopy self attested with Company stamp.
• Bank statement of last 6 month till date attested with company stamp (auth. Sig.)
• Moa & AOA attested with company stamp (auth. Sig.)
• Last three years Balance sheet with co. Stamp (auth. Sig).
• Form 32 with co. Stamp (auth. Sig). (In case director change)
1. FINDINGS
According to my analysis there are few important findings from this survey which may
helpful for the company. These findings can help the sales team to make better sales
1. There is a positive correlation between the income percentage on investment and the
3. ICICI is a very close competitor, has large customer base due to its banking facilities.
4. Approx 65 % people who are the age group 30-50 take interest in investing into
securities.
5. Most of the customers do not satisfied with prepaid brokerage plan of Religare.
company. So that Religare are not be able to attract customer by brand image.
7. Approx 50 % people do not know that Raligare is Ranbaxy promoter’s group
company. So that Religare are not be able to attract customer by brand image.
8. Religare has the maximum market coverage in comparison to its major competitors
9. 52% respondents are satisfied with their broking house, out of which 24 % belongs to
There should be a limited number of clients under the relationship manger. So that he
Some promotional activities are required for the awareness of the customer. Like the
promotional plan in the project, this includes pamphlet distribution and awareness
week.
customers.
It’s said that building new customers is three times expensive then maintaining the
old customers so in order to building the customer loyalty Religare should send
greeting card on the special occasion such as birthday, anniversary to customers. This
shows that company is concern not only about the customers but also about the
CONCLUSION
The information collected from the various respondents helped us to arrive at the following.
On the basis of the study I can say that Religare Ltd is better services provider than
individually handle to their customer, but in ICICI direct there is no separate offices
Religare has a good customer base in the surveyed area as compared to other major
ICICI Direct online trading is best in the area eating Religare’s web based trading.
exist with ICICI. India Bulls and India Infoline fail to satisfy their customers.
ICICI is a very close competitor, has large customer base due to its banking facilities.
India bulls have lost charm among customers, because of entering of better service
provider.
India Infoline does not have a good brand name, but it offers very good schemes and
1. SUGGETIONS
Make some flexible norms regarding brokerage structure. There should not be
Process of filling the Raligare form should be easy because there are so many
Its name might be start by name of Ranbaxy as ICICI direct & SBI life cashing the
Demat Account opening charges can be reduced to increase the client base.
Arbitraging plays a big role in stock market so we should provide a platform for
arbitrage.
As only Noida dealt in survey so it does not represent the view of the total Indian
market.
The survey was carried through questionnaire and the questions were based on
perception.
Complete data was not available due to company privacy and secrecy.
Due to lack of the knowledge of the many persons have lost their money in the
capital market. Now they are not ready for the further investment.
When I entered in this city I take lot of time to find any address.
1. BIBLIOGRAPHY
Books:
Financial Market Operatin by Goyal, Dr. Alok, New Delhi, V.K. (India)
Enterprises.
Rule The Freakin Markets! By Micheal Parness, St. Martin’s Press, 2002.
Internet:
http://www.religare.in
http://www.religaresecurities.com
http://www.nse.co.ke/newsite/inner.asp?cat=ahistory
http://www.nsx.com/content/history
http://www.moneycontrol.com
http://www.nseindia.com
http:// www.bseindia.com
http:// www.marketwatch.com
http://www.5paisa.com
http://www.indiainfoline.com
http://www.icicidirect.com
http://www.hdfcsecurity.com
http://www.indianstockmarket.com
http://www.scottrade.com
http://www.mysmp.com/world-markets/national-stock-exchange-of-india.html
http://www.scribd.com/doc/8589834/The-History-of-Bombay-Stock-Exchange
http://www.chittorgarh.com/newportal/online-stock-brokers-detail.asp?a=3
1. APPENDIX
QUESTIONNAIRE
DATE:
NAME
OCCUPATION
AGE
CONTACT NO.
Age group: (please tic below ):
10. Do you get confirmation calls for your day to day transactions?
…………………………………………………………………………………………
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