Swami Vivekanand Institute of Gurpreet

SWAMI VIVEKANAND INSTITUTE OF ENGINEERING & TECHNOLOGY
Swami Vivekanand Institute Of

Engineering & Technology
FINAL REPORT
On
“EQUITY
MARKET”
SUBMITTED TO
SWAMIVIVEKANAND
INSTITUTE OF ENGG. &
TECHNOLOGY
A project report submitted

In partial fulfillment of the requirements for the degree of
MASTERS OF BUSINESS
ADMINISTRATION
SESSION 2007-
2009
BY
GURPREET SINGH
(7032221166)
MBA
A STUDY ON EQUITY MARKET SUMMER INTERNSHIP PROJECT 1

S.V.I.E.T.
RAMNAGAR, BANUR.
Under the Guidance of

MR. ATUL GAURI MRS. PARINITA MALHOTRA
ASSISTANT MANAGER HEAD OF THE DEPARTMENT
ACKNOWLEDGEMENTS
With profound veneration, first of all I recline myself
before almighty without whose blessings myself is cipher.
I express my sincerest gratitude and thanks to honorable, Mr. SUSHIL SHARAWAT

(TERITORY MANAGER), for whose kindness I had the precious opportunity of
attaining training at SHAREKHAN. Under his brilliant untiring guidance I could
complete the project being undertaken on the “To study the equity market in detail
& the client services provided by SHAREKHAN and its competitor companies
along with the satisfaction level of the existing clients of SHAREKHAN”
successfully in time. His meticulous attention and invaluable suggestions have
helped me in simplifying the problem involved in the work. I would also like to thank
the overwhelming support of all the people who gave me an opportunity to learn and
gain knowledge about the various aspects of this industry.
I would like to thanks Mrs. Parinita Malhotra, HEAD OF THE DEPARTMENT, of
SVIET College, RamNagar, Banur for her constant enthusiastic encouragement and
valuable suggestions without which this project would not been successfully
completed.
I am indebted to all staff members of SHAREKHAN for their valuable support and
cooperation during the entire tenure of this project.
Lastly, no words are enough to express my heartiest gratitude to my parents whose

blessings are inspiration in the foundation of my work.
Gurpreet Singh

DECLARATION
I, hereby state this project report submitted by me in partial fulfillment of requirements of
the MBA in an original research work carried out by me under the guidance and
supervision of my faculty guide and this work or any part of it has not been previously
submitted for a degree of MBA.
GURPREET SINGH
PLACE: ---------------
DATE: -----------------

TABLE OF CONTENTS
CONTENTS
Chapter 1 : Industry Profile 7 – 22
1.1 Introduction and History
1.2 What is a Stock market ? Its purpose & function
1.3 Securities.
1.4 Trading in India
1.5 Regulator of stock market
1.6 SEBI & its role
1.7 Primary market & its role
1.8 Secondary market – function
1.9 Primary vs Secondary market
1.10 Stock Exchange
1.11 Depository & dematerialization
1.12 NSE / BSE / OTCEI.
Chapter 2 : Company Profile 23 – 27
2.1 History
2.2 Profile
2.3 Management
Chapter 3 : Introduction To The Project 28 – 31
3.1 Objectives
3.2 Methodology
3.3 Limitations
Chapter 4 : Data Analysis
A) Share khan Ltd. 34 – 41

B) Religare Securities Ltd 42 – 45
C) ICICI DIRECT 46 – 48
D) Geojit Financial Services 49 – 51
E) India Bulls 52 – 54
Graphical Presentation & Comparative Conclusions 56 - 71
Chapter 5 : Bibliography 73
Chapter 6 : Annexure 74
7.1 Questionnaire for existing clients of Religare. 75 - 76

7.2 Survey Questionnaire. 77 – 78

LIST OF GRAPHS
S.NO. GRAPH TITLE PAGE NO.
1 Frequency of trading 56
2 Online vs offline trading 57
3 Account opening charges 59
4 Intraday brokerage 60
5 Delivery brokerage 61
6 Minimum balance in trading account 62
7 Exposure limits 63
8 Annual maintenance charges 64
9 Satisfaction level of clients on diff. parameters 67 – 69
10 Overall satisfaction level of clients 70
11 Additional features required in online share trading 71

CHAPTER I
INDUSTRY
PROFILE

1.1 …….AN INTRODUCTION

• In India previous days Offline investors did trading. In offline trading
investor had to go to broker’s place either by telephonic call or physically
presence and no one had that much time to go to someone place, paper
work also etc. So, Online came into picture. Online share trading has
proved a boon for the investors.
• Online share trading means any one can purchase and sell shares from
anywhere in world through Internet. The online offered different benefits to
retail investors:-
– Transparency means paperwork diminishes significantly and no

more painful trips to your broker to check if everything is in order.
– Access means online trading had made it possible to universalize
access to investors by sitting anywhere in world.
– Efficiency means latest financial happening like live quote,
suggestion directly on your screen during access timing.
• As there are hurdles in every progress or technological advancement. The

three main technology obstacles which have prevented Internet brooking
from taking off are :-
– Lack of Internet penetration

– Bandwidth infrastructure
– Poor quality of infrastructure.

1.1 HISTORY OF EQUITY MARKET

Market-oriented economic reforms in India began in 1991. With the removal of
Administrative controls on bank credit and the primary market for securities, the
capital markets came to occupy a larger role in shaping resource allocation in the
country. This led to a heightened interest amongst policy makers in the
institutional development of securities markets. The efforts towards empowering
the securities market regulator (SEBI), and the first efforts towards attracting
foreign portfolio investment began early in the reforms process. Almost
immediately after the reforms began, there was a prominent scandal on the fixed
income and equity markets, which was exposed in April 1992.
This set the stage for an unusual policy intervention: the establishment of a
securities exchange, the National Stock Exchange (NSE), by the government.
Contrary to most expectations, NSE succeeded, becoming the

largest equity market in 1995. NSE pioneered many important innovations in
market design in India. The most important of these included nationwide
electronic trading (1994), the clearing corporation as a central counterparty
(1996) and paperless settlement at the depository (1996). NSE was a pioneer
amongst securities exchanges in the world in using a “demutualised” structure,
where brokerage firms did not own the exchange.
The demutualised structure helped in keeping NSE focused on the
needs of investors as opposed to the profit maximization of brokerage firms. The
creation of the new exchange, clearing corporation and depository were
important accomplishments of institution building.

From 1996 onwards, debates about policy issues on the equity market
were dominated by questions about the role for leveraged trading. There was a
proposal to have a spot market based on “rolling settlement” (where leverage is
limited to intra–day positions only).
In 2001, a major crisis broke on the equity market. It involved numerous

elements: large leveraged positions which went wrong, accusations of market
manipulation, a payments crisis at the Calcutta exchange, fraud in the banking
system, ethics violations at the Bombay Stock Exchange,
This crisis was valuable in breaking this five–year deadlock and moving
on with reforms. In June 2001, trading in index options commenced &
within a matter of weeks, liquidity improved sharply.
Over the 1990s, the equity market became a nationwide platform with real–time
capability for trading and settling stock transactions.
However, comparable improvements in the infrastructure for funds transfer
in the country have not taken place.
Beyond technical questions of market design, the most important concerns about
the securities markets today are questions of governance and policy formulation
Securities markets have made significant progress in terms of exploiting
modern trading technology and modern financial instruments. However,
the regulatory capacity on the part of both exchange institutions and SEBI is
highly limited.
1.2 STOCK MARKET

The term 'the stock market' is a concept for the mechanism that enables the trading of
company stocks, other securities, and derivatives.
The stocks are listed and traded on stock exchanges which are entities (a corporation
or mutual organization) specialized in the business of bringing buyers and sellers of
stocks and securities together.
Equity/Share
Total equity capital of a company is divided into equal units of small

denominations, each called a share. For example, in a company the total equity
capital of Rs 2,00,00,000 is divided into 20,00,000 units of Rs 10 each. Each
such unit of Rs 10 is called a Share. Thus, the company then is said to have
20,00,000 equity shares of Rs 10 each. The holders of such shares are members
of the company and have voting rights.

There are now stock markets in virtually every developed and most
developing economies, with the world's biggest markets being in the
United States, UK, Germany, France, India and Japan.
THE BOMBAY STOCK EXCHANGE IN INDIA
Function and purpose

The financial system performs three main tasks:
1. It handles transfer of payments;

2. It channels savings to investments with a good return for future
consumption and;

3. It spreads and reduces (local enterprise) economic risks in relation to the

players' targeted returns.
The smooth functioning of all these activities facilitates economic growth in that
lower costs and enterprise risks promote the production of goods and services as
well as employment. In this way the financial system contributes to increased
prosperity.
The stock market is one of the most important sources for companies to raise
money. Rising share prices, for instance, tend to be associated with increased
business investment and vice versa. Share prices also affect the wealth of
households and their consumption. Therefore, central banks tend to keep an eye
on the control and behavior of the stock market and, in general, on the smooth
operation of financial system functions.
1.3 SECURITIES
"Securities" is a generic term describing a transferable certificate of ownership in
an investment product. An investment product includes notes, bonds, stocks,
futures, contracts and options.
A Security gives the holder an ownership interest in the assets of a company. For
example, when a company issues security in the form of stock, they give the
purchaser an interest in the company's assets in exchange for money.
There are a number of reasons why a company issues securities: meeting a

short-term cash crunch or obtaining money for an expansion is just two.
1.4 TRADING IN INDIA

NSE introduced for the first time in India, fully automated screen based trading. It
uses a modern, fully computerized trading system designed to offer investors
across the length and breadth of the country a safe and easy way to invest.
The NSE trading system called 'National Exchange for Automated Trading'
(NEAT) is a fully automated screen based trading system, which adopts the
principle of an order driven market.
Trading

Participants in the stock market range from small individual stock investors to
large hedge fund traders, who can be based anywhere.
MARKET TIMINGS
Trading on the equities segment takes place on all days of the week (except
Saturdays and Sundays and holidays declared by the Exchange in advance).
The market timings of the equities segment are:
Normal Market Open :- 09:55 hours

Normal Market Close :- 15:30 hours
LISTING
Listing means admission of securities of an issuer to trading privileges on a stock
exchange through a formal agreement. The prime objective of admission to
dealings on the Exchange is to provide liquidity and marketability to securities.
TRADER WORKSTATION
The trader workstation is the terminal from which the member accesses the
trading system. Each trader has a unique identification by way of Trading
Member ID and User ID through which he is able to log on to the system for
trading or inquiry purposes. A member can have several user IDs allotted to him
by which he can have more than one employee using the system concurrently.
A Trading Member can define a hierarchy of users of the system with the
Corporate Manager at the top followed by the Branch Manager and Dealers.
The Trader Workstation screen of the Trading Member is divided into several
major windows:
• Title Bar
• Tool Bar
• Ticker Window
• Market Watch Window
• On line Index and Index Inquiry
• Inquiry Window

• Order/Trade Window
Title Bar
The title bar displays the current time, Trading system name and date.
Tool Bar
A window with different icons which provides quick access to various functions
such as Market By Order, Market By Price, Market Movement, Market Inquiry,
Auction Inquiry, Snap Quote, Market Watch, Buy order entry, Sell order entry,
Order Modification, Order Cancellation, Outstanding Orders, Order Status,
Activity Log, Previous Trades, Net Position, Online Backup, Supplementary
Menu, Security List and Help. All these functions are also available on the
keyboard.
Ticker Window
The ticker displays information about a trade as and when it takes place. The
user has the option to set-up the securities which appear in the ticker.
Market Watch Window

The Market Watch window is the main area of focus for a Trading Member. The
purpose of Market Watch is to view market information of pre-selected securities
that are of interest to the Trading Member.
To monitor various securities, the trading member can set them up by typing the
Security Descriptor consisting of a Symbol field and a Series field. Securities can
also be set up by invoking the Security List and selecting the securities from the
window. The Symbol field incorporates the Company name and the Series field
captures the segment/instrument type. A third field indicates the market type.
For example,
Company (Symbol) : ACC
Instrument type (Series): EQ
Market Type: N
For each security in the Market Watch window, market information is dynamically
updated on a real time basis. The market information displayed is for the current
best price orders available in the regular lot book. For each security, the
corporate action indicator (e.g., Ex or cum dividend, interest, rights etc.), the total
buy order quantity for the best buy price, best sell price, total sell order quantity
for the best sell price, the Last Traded Price (LTP), the last traded price change
indicator ('+' if last traded price is better than the previous last traded price and '-'
if it is worse) and the no delivery indicators are displayed. If the security is
suspended, "SUSPENDED" appears in front of the security.

On line Index and Index Inquiry

With every trade in a security participating in Index, the user has the information
on the current value of the Nifty. This value is displayed at the extreme right hand
corner of the ticker window.
Index Inquiry gives information on Close, Open, High, Low and current index
values at the time of invoking this inquiry screen.
Inquiry Window
In this window, the inquiries such as Market by Order, Market by Price, Previous
Trades, Outstanding Orders, Activity Log, Order Status and Market Inquiry can
be viewed.
• Market By Order (MBO)

The purpose of Market by Order is to enable the user to view outstanding
orders in the trading books in the order of price/time priority. The
information is displayed for each order. Stop Loss orders, which are not
triggered will not be displayed on the window. Buy orders are displayed on
the left side of the window and Sell orders on the right side. The orders
are presented in a price/time priority with the "best priced" order at the top.
• Market by Price (MBP)

The purpose of Market By Price is to enable the Trading Member to view
aggregate orders waiting in the book at given prices.
• Previous Trades (PT)

The purpose of this window is to provide information to users for their own
trade.
• Outstanding Orders (OO)

The purpose of Outstanding Orders is to enable a Trading Member to view
his/her own outstanding buy or sell orders for a security. An outstanding
order will be an order that was entered by the user, but is not yet
completely traded or cancelled.
• Activity Log (AL)

The Activity Log shows the activities that have been performed on any
order of the Trading Member such as whether the order has been traded
against fully or partially, it has been modified or has been cancelled. It
displays information only of those orders in which some activity has taken
place. It does not display orders, which have entered the books but have
not been matched (fully or partially) or modified or cancelled.

• Order Status (OS)

Order Status enables the user to look into the status of a specific order.
Current status of the order and other order details are displayed. In case
the order is traded, the trade details are also displayed.
• Market Inquiry (MI)

Market Inquiry enables the user to view the market statistics like Open,
High, Low, Previous close, Last traded price change indicator, Last traded
quantity, date and time etc. A user may find inquiry screens like Market
Movement, Most Active Securities and Net Position useful. These are
available in the supplementary menu.
• Market Movement (MM)

The Market Movement screen provides information to the user regarding
the movement of a security for the current day. It gives details of the
movement of the scrip for a time interval. The details include total buy and
sell order quantity value, Open, High, Low, Last traded price etc.
• Most Active Securities

This screen gives a list of the securities with the highest traded value
during the day and the quantity traded for each of them.
• Net Position
This functionality enables the user to interactively view his net position for
all securities in which he has traded.
•
Order/Trade Window
Order entry mechanisms enable the Trading Member to place orders in
the market. The system will request re-confirmation of an order so that the
user is cautioned before the order is finally released into the market.
Orders once placed on the system can be modified or cancelled till they
are matched. Once orders are matched they cannot be modified or
cancelled.
There is a facility to generate online order/trade confirmation slips as soon

as an order is placed or a trading is done. The order confirmation slip
contains among other things, order no., security name, price, quantity,
order conditions like disclosed or minimum fill quantity etc. The trade
confirmation slip contains the order and trade no., date, trade time, price
and quantity traded, amount etc. Orders and trades are identified and
linked by unique numbers so that the investor can check his order and
trade details.

1.5 REGULATOR
Who regulates the Securities Market?

The responsibility for regulating the securities market is shared by Department of
Economic Affairs (DEA), Department of Company Affairs (DCA), Reserve Bank
of India (RBI) and Securities and Exchange Board of India (SEBI).
1.6 WHAT IS SEBI AND WHAT IS ITS ROLE!!

The Securities and Exchange Board of India (SEBI) is the regulatory authority in
India established under Section 3 of SEBI Act, 1992. SEBI Act, 1992 provides for
establishment of Securities and Exchange Board of India (SEBI) with statutory
powers for (a) protecting the interests of investors in securities (b) promoting the
development of the securities market and (c) regulating the securities market. Its
regulatory jurisdiction extends over corporates in the issuance of capital and
transfer of securities, in addition to all intermediaries and persons associated with
securities market. SEBI has been obligated to perform the aforesaid functions by
such measures as it thinks fit. In particular, it has powers for:
1. Regulating the business in stock exchanges and any other securities

markets
2. Registering and regulating the working of stock brokers, sub–brokers etc.
3. Promoting and regulating self-regulatory organizations
4. Prohibiting fraudulent and unfair trade practices
5. Calling for information from, undertaking inspection, conducting inquiries
and audits of the stock exchanges, intermediaries, self – regulatory
organizations, mutual funds and other persons associated with the
securities market.
Clearing Corporation
A Clearing Corporation is a part of an exchange or a separate entity and

performs three functions, namely, it clears and settles all transactions, i.e.
completes the process of receiving and delivering shares/funds to the buyers and
sellers in the market, it provides financial guarantee for all transactions executed
on the exchange and provides risk management functions. National Securities
Clearing Corporation (NSCCL), a 100% subsidiary of NSE, performs the role of a
Clearing Corporation for transactions executed on the NSE.
Rolling settlement all open positions at the end of the day mandatory result in
payment/ delivery ‘n’ days later. Currently trades in rolling settlement are settled
on T+2 basis where T is the trade day. For example, a trade executed on
Monday is mandatory settled by Wednesday (considering two working days from

the trade day). The funds and securities pay-in and pay-out are carried out on
T+2 days.
1.7 PRIMARY MARKET

Securities generally have two stages in their lifespan. The first stage is when the
company initially issues the security directly from its treasury at a predetermined
offering price. This is a primary market offering. It is referred to as the initial
public offering (IPO). Investment dealers frequently buy initial offerings on the
primary market and resell the securities on the secondary market.
Role of the Primary Market

The primary market provides the channel for sale of new securities. Primary
market provides opportunity to issuers of securities; Government as well as
corporates, to raise resources to meet their requirements of investment and/or
discharge some obligation. They may issue the securities at face value, or at a
discount/premium and these securities may take a variety of forms such as
equity, debt etc. They may issue the securities in domestic market and/or
international market.
Why do companies need to issue shares to the public?
Most companies are usually started privately by their promoter(s). The way to
invite share capital from the public is through a ‘Public Issue’. Simply stated, a
public issue is an offer to the public to subscribe to the share capital of a
company.
Issue price
The price at which a company's shares are offered initially in the primary market
is called as the Issue price. When they begin to be traded, the market price may
be above or below the issue price.
Public Issue vs Private Placement
When an issue is not made to only a select set of people but is open to the
general public and any other investor at large, it is a public issue. But if the issue
is made to a select set of people, it is called private placement. As per
Companies Act, 1956, an issue becomes public if it results in allotment to 50
persons or more. This means an issue can be privately placed where an
allotment is made to less than 50 persons.

Who decides the price of an issue?
There is no price formula stipulated by SEBI. SEBI does not play any role in price
fixation. The company and merchant banker are however required to give full
disclosures of the parameters which they had considered while deciding the
issue price. There are two types of issues, one where company and Lead
Merchant Banker fix a price (called fixed price) and other, where the company
and the Lead Manager (LM) stipulate a floor price or a price band and leave it to
market forces to determine the final price .
What is SEBI’s Role in an Issue?

Any company making a public issue or a listed company making a rights issue of
value of more than Rs 50 lakh is required to file a draft offer document with SEBI
for its observations. The company can proceed further on the issue only after
getting observations from SEBI. The validity period of SEBI’s observation letter is
three months only i.e. the company has to open its issue within three months
period.
1.8 SECONDARY MARKET

The secondary market is the financial market for trading of securities that have
already been issued in an initial private or public offering. Alternatively,
secondary market can refer to the market for any kind of used goods. The market
that exists in a new security just after the new issue is often referred to as the
aftermarket. Once a newly issued stock is listed on a stock exchange, investors
and speculators can easily trade on the exchange, as market makers provide
bids and offers in the new stock.
Function
In the secondary market, securities are sold by and transferred from one investor
or speculator to another. It is therefore important that the secondary market be
highly liquid and transparent. Before electronic means of communications, the
only way to create this liquidity was for investors and speculators to meet at a
fixed place regularly.
1.9 Primary Market vs Secondary Market

In the primary market, securities are offered to public for subscription for the
purpose of raising capital or fund. Secondary market is an equity trading venue in
which already existing/pre-issued securities are traded among investors.
Secondary market could be either auction or dealer market. While stock

exchange is the part of an auction market, Over-the-Counter (OTC) is a part of

the dealer market.
1.10 STOCK EXCHANGE
Role of a Stock Exchange in buying and selling shares
The stock exchanges in India, under the overall supervision of the regulatory
authority, the Securities and Exchange Board of India (SEBI), provide a trading
platform, where buyers and sellers can meet to transact in securities. The trading
platform provided by NSE is an electronic one and there is no need for buyers
and sellers to meet at a physical location to trade. They can trade through the
computerized trading screens available with the NSE trading members or the
internet based trading facility provided by the trading members of NSE.
How can one acquire equity shares?
One may subscribe to issues made by corporates in the primary market. In the
primary market, resources are mobilized by the corporates through fresh public
issues (IPO’s) or through private placements. To buy and sell securities one
should approach a SEBI registered trading member (broker) of a recognized
stock exchange.
Details to be mentioned on the contract note
A broker has to issue a contract note to clients for all transactions in the form
specified by the stock exchange. The contract note inter-alia should have
following:
• Name, address and SEBI Registration number of the Member broker.

• Name of partner/proprietor/Authorized Signatory.
• Dealing Office Address/Tel. No. /Fax no., Code number of the member given
by the Exchange.
• Contract number, date of issue of contract note, settlement number and time
period for settlement.
• Constituent (Client) name/Code Number.
• Order number and order time corresponding to the trades.
• Trade number and Trade time.

• Quantity and kind of Security bought/sold by the client.

• Brokerage and Purchase/Sale rate.
• Service tax rates, Securities Transaction Tax and any other charges levied by
the broker.
• Appropriate stamps have to be affixed on the contract note or it is mentioned
that the consolidated stamp duty is paid.
• Signature of the Stock broker/Authorized Signatory.
1.11 DEPOSITORY
A Depository can be compared with a bank, which holds the funds for depositors.
An analogy between a bank and a depository may be drawn as follows:
Depository Participant (DP)
The Depository provides its services to investors through its agents called
depository participants (DPs). These agents are appointed by the depository with
the approval of SEBI. According to SEBI regulations, amongst others, three
categories of entities, i.e. Banks, Financial Institutions and SEBI registered
trading members can become DPs.

Dematerialization
Dematerialization is the process by which physical certificates of an investor are

converted to an equivalent number of securities in electronic form and credited to
the investor’s account with his Depository Participant (DP).
1.12 NSE
The National Stock Exchange (NSE), located in Bombay, is India's first debt
market. It was set up in 1993 to encourage stock exchange reform through
system modernization and competition. It opened for trading in mid-1994. It was
recently accorded recognition as a stock exchange by the Department of
Company Affairs. The instruments traded are, treasury bills, government security
and bonds issued by public sector companies.
BSE
Bombay Stock Exchange Limited is the oldest stock exchange in Asia with a rich
heritage. Popularly known as "BSE", it was established as "The Native Share &
Stock Brokers Association" in 1875. It is the first stock exchange in the country to
obtain permanent recognition in 1956 from the Government of India under the
Securities Contracts (Regulation) Act, 1956.The Exchange's pivotal and pre-
eminent role in the development of the Indian capital market is widely recognized
and its index, SENSEX, is tracked worldwide.
With demutualization, the trading rights and ownership rights have been de-
linked effectively addressing concerns regarding perceived and real conflicts of
interest. The Exchange is professionally managed under the overall direction of
the Board of Directors. The Board comprises eminent professionals,
representatives of Trading Members and the Managing Director of the Exchange.
The Board is inclusive and is designed to benefit from the participation of market
intermediaries.
The Exchange has a nation-wide reach with a presence in 417 cities and towns
of India. The systems and processes of the Exchange are designed to safeguard
market integrity and enhance transparency in operations. During the year 2004-
2005, the trading volumes on the Exchange showed robust growth.
The Exchange provides an efficient and transparent market for trading in equity,
debt instruments and derivatives. The BSE's On Line Trading System (BOLT) is

a proprietary system of the Exchange and is BS 7799-2-2002 certified. The

surveillance and clearing & settlement functions of the Exchange are ISO
9001:2000 certified.
OVER THE COUNTER EXCHANGE OF INDIA

OTCEI was incorporated in 1990 as a Section 25 company under the Companies
Act 1956 and is recognized as a stock exchange under Section 4 of the
Securities Contracts Regulation Act, 1956. The Exchange was set up to aid
enterprising promoters in raising finance for new projects in a cost effective
manner and to provide investors with a transparent & efficient mode of trading.
ROLE OF OTCEI
The objective of OTCEI is to find techniques of making small cap stocks

more liquid than would be the case on the other major exchanges.
CHAPTER II
COMPANY
PROFILE
CHAPTER 3 : COMPANY PROFILE
2.1 History

2.2 Profile
2.3 Management
COMPANY HISTORY & PROFILE
Share khan is one of the leading retail brokerage of SSKI (Swargiye Shri Kanti
Lal Ishwar Lal) Group which is running successfully since 1922 in the country.
It is the retail broking arm of the Mumbai-based SSKI Group, which has over
eight decades of experience in the stock broking business. Share khan offers its
customers a wide range of equity related services including trade execution on

BSE, NSE, Derivatives, depository services, online trading, investment advice

etc.
The firm’s online trading and investment site - www.sharekhan.com - was

launched on Feb 8, 2000. The site gives access to superior content and
transaction facility to retail customers across the country. Known for its jargon-
free, investor friendly language and high quality research, the site has a
registered base of over 2 lacs customers. The number of trading members
currently stands at over 5 Lacs. While online trading currently accounts for just
over 2 per cent of the daily trading in stocks in India, Share khan alone accounts
for 27 per cent of the volumes traded online.
On April 17, 2002 Share khan launched Speed Trade and Trade Tiger, are net-
based executable application that emulates the broker terminals along with host
of other information relevant to the Day Traders. This was for the first time that a
net-based trading station of this caliber was offered to the traders.
Share khan’s ground network includes over 700+ Share shops in 150+
cities in India.
Share khan has always believed in investing in technology to build its business.
The company has used some of the best-known names in the IT industry, like
Sun Microsystems, Oracle, Microsoft, Cambridge Technologies, Verisign
Financial Technologies India Ltd, Spider Software Pvt Ltd. to build its trading
engine and content. The Citi Venture holds a majority stake in the company.
HSBC, Intel & Carlyle are the other investors.
With a legacy of more than 80 years in the stock markets, the SSKI group
ventured into institutional broking and corporate finance 18 years ago. Presently
SSKI is one of the leading players in institutional broking and corporate finance
activities. SSKI holds a sizeable portion of the market in each of these segments.

SSKI’s institutional broking arm accounts for 7% of the market for Foreign
Institutional portfolio investment and 5% of all Domestic Institutional portfolio
investment in the country.
SHAREKHAN LIMITED is a
1. Member of National Stock Exchange of India and Bombay Stock

Exchange of India.
2. Depository Participant with National Securities Depository
Limited (NSDL) and Central Depository Services Limited
(CDSL).
3. A SEBI approved Portfolio Manager.
PRODUCT & SERVICES

OFFERED BY SHAREKHAN
• Equity Trading Platform (Online/Offline).

• Commodities Trading Platform (Online/Offline).
• Portfolio Management Service.
• Depository Services.
• Mutual Fund Advisory and Distribution.
• Insurance Distribution.
Equity Trading

For the first time Share Khan brings investing community the power to be
associated with the elite dealing rooms and freedom to execute trade on their
own. That is, one may trade from their branches or trade on your own over the
net and with that expertise and assistance.
Commodity Trading
Commodities as a word originated from the French word ‘commodity’ meaning
‘benefit, profit’. Share Khan Limited is a member of both the exchanges (MCX &
NCDEX) that allows trading in all the commodities traded at both the exchanges.
At present, trading in commodities is restricted to futures contracts only.
Portfolio Management System

Portfolio Management Services manage client’s wealth more efficiently, reduce
risk by diversifying across assets, sectors and funds, and maximizing returns.
Expert Portfolio Managers find best of avenues to achieve optimum returns at
managed levels of risk. This service could also be called as “transparent
collective investments”.
Depository Services
Share Khan is among the few major Depository Participants holding securities
worth more than Rs.5000 crore under its management. Share Khan provides
depository services to investors as a Depository Participant with NSDL and
CDSL.
Mutual Funds Services
Share Khan is also promoting mutual funds of all companies. You can apply to
Mutual Funds of Reliance, Franklin Templeton Investments, ICICI Prudential,
SBI, Birla, Sundaram, HDFC, DSP Merrill Lynch, PRINCIPAL, and TATA with
Share khan hassle free, paperless and time saving.
Insurance Distribution
Share Khan is also promoting insurance by joining hands with icici prudential
life insurance company. Insurance Distribution so far is mainly carried out in
metros only in Delhi & Mumbai.

MANAGEMENT
CHAPTER III
INTRODUCTION

TO THE
PROJECT
• Objectives
• Research Methodology
• Limitations
OBJECTIVES
• To study the various features of equity market.
• To study the criterion of different companies for opening d-mat &

trading accounts.

• To study all kinds of financial services provided by SHAREKHAN to its

clients.
• To make a comparative analysis of the client services of different

companies.
• To study the satisfaction level of the existing clients of SHAREKHAN.
RESEARCH METHODOLOGY
The objective of the present study can be accomplished by conducting a

systematic market research. Market research is the systematic design, collection,
analysis and reporting of data and findings that are relevant to different marketing
situations facing the company. The marketing research process that is adopted in
the present study consists of the following stages:
a. Defining the problem and the research objective:
The research objective states what information is needed to solve the problem.
The objective of the research is to derive the opinion of the clients of the
SHAREKHAN and use that to improve the satisfaction level of the clients. And
also to obtain information from other competitor companies regarding their client
services.
b. Developing the research plan:
Once the problem is identified, the next step is to prepare a plan for getting the
information needed for the research. The present study adopted the exploratory
approach wherein there was a need to gather large amount of information before
making a conclusion.
c. Collection and Sources of data:
Market research requires two kinds of data, i.e., primary data and secondary
data.
Being a firm in the financial industry, data gathering here involved usage of
both primary and secondary data though there was an extensive usage of
primary data. Well-structured questionnaires were prepared for the clients.
There were personal interview surveys for collecting information regarding other

competitor companies. The questionnaires contained close-ended questions,

wherein the main objective was to get an insight into how people measure the
things. Secondary data was collected from various books and web sites.
SAMPLING PLAN
Sampling Units: The respondents were the EXISTING CLIENTS of
SHAREKHAN.
Sample Size: Survey was conducted for 50 respondents.

The respondents were asked to fill questionnaires about their opinion on the
services provided by SHAREKHAN.
1. Analyze the collected information:
This involves converting raw data into useful information. It involves tabulation
of data, using statistical measures.
2. Report research findings:
This phase marks the culmination of the marketing research effort. The
report with the research findings is a formal written document. The research
findings and personal experience was used to propose recommendations to
develop the services of SHAREKHAN & develop a better image.
Sample Area: The primary data for the research work was mainly collected
from TRI CITY (chandigarh, Panchkula & Mohali).
LIMITATIONS
Though the present study aims to achieve the above-mentioned objectives in full
earnest and accuracy, it may be hampered due to certain limitations. Some of the
limitations of this study may be summarized as follows:
 Getting accurate responses from the respondents due to their inherent

problems is difficult. They may be partial or refuse to cooperate.

 The data collected is only from TRI CITY.
 Respondents were hesitant to give information to some questions.
 They didn’t give information easily.
CHAPTER IV

ANALYSIS &
INTERPRETATIO
N OF THE
CONTENT
 VARIOUS KINDS OF CLIENT SERVICES PROVIDED BY
DIFFERENT BROKERAGE COMPANIES ALONG WITH THEIR
ACCOUNT OPENING PROCEDURES
 COMPARATIVE ANALYSIS ON DIFFERENT PARAMETERS

AMONG THE COMPANIES.
 SATISFACTION LEVEL OF THE EXISTING CLIENTS OF

SHARE KHAN.

VARIOUS KINDS OF CLIENT SERVICES PROVIDED
BY DIFFERENT BROKERAGE COMPANIES ALONG
WITH THEIR ACCOUNT OPENING PROCEDURES

SHAREKHAN LTD

PRODUCTS & SERVICE
Products

SERVICES
 Freedom from paperwork

 Instant credit and money transfer
 Trade from any net enabled PC
 After hour orders
 Online orders on the phone
 Timely advice and research reports
 Real-time Portfolio tracking
 Information and Price alerts
REASONS TO CHOOSE SHAREKHAN LIMITED
Experience
SSKI has more than eight decades of trust and credibility in the Indian stock
market. In the Asia Money broker's poll held recently, SSKI won the 'India's best
broking house for 2004' award. Ever since it launched Share khan as its retail
broking division in February 2000, it has been providing institutional-level
research and broking services to individual investors.
Technology
With our online trading account you can buy and sell shares in an instant from
any PC with an internet connection. You will get access to our powerful online
trading tools that will help you take complete control over your investment in
shares.
Accessibility
Share khan provides ADVICE, EDUCATION, TOOLS AND EXECUTION
services for investors. These services are accessible through our centers across
the country (Over 700 locations in 150+ cities) over the Internet (through the
website www.sharekhan.com) as well as over the Voice Tool.

Knowledge
In a business where the right information at the right time can translate into direct
profits, you get access to a wide range of information on our content-rich portal,
www.sharekhan.com.
Convenience
One can call our Dial-N-Trade number to get investment advice and execute your
transactions. We have a dedicated call-center to provide this service via a Toll
Free Number 1800-22-7500 & 39707500 from anywhere in India.
Customer Service
Our customer service team will assist you for any help that you need relating to
transactions, billing, demat and other queries. Our customer service can be
contracted via a toll-free number, email or live chat on www.sharekhan.com.
Investment Advice
Share khan has dedicated research teams of more than 30 people for
fundamental and technical research. Our analysts constantly track the pulse of
the market and provide timely investment advice to you in the form of daily
research emails, online chat, printed reports and SMS on your mobile phone.
Benefits
• Free Depository A/c
• Instant Cash Transfer
• Multiple Bank Option.
• Secure Order by Voice Tool Dial-n-Trade.
• Automated Portfolio to keep track of the value of your actual purchases.
• Personalized Price and Account Alerts delivered instantly to your Mobile
Phone & E-mail address.
• Live Chat facility with Relationship Manager on Yahoo Messenger
• Special Personal Inbox for order and trade confirmations.
• On-line Customer Service via Web Chat.
• Enjoy Automated Portfolio.

• Buy or sell even single share

• Anytime Ordering.
SHAREKHAN offers you the following products:-
CLASSIC ACCOUNT
This is an User Friendly Product which allows the client to trade through
website www.sharekhan.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.
Features
• Online trading account for investing in Equity and Derivatives via

www.sharekhan.com
• Live Terminal and Single terminal for NSE Cash, NSE F&O & BSE.
• Integration of On-line trading, Saving Bank and Demat Account.
• Instant cash transfer facility against purchase & sale of shares.
• Competitive transaction charges.
• Instant order and trade confirmation by E-mail.
• Streaming Quotes (Cash & Derivatives).
• Personalized market watch.
• Single screen interface for Cash and derivatives and more.
• Provision to enter price trigger and view the same online in market watch.
SPEEDTRADE
SPEEDTRADE 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
• Instant order Execution and Confirmation.

• Single screen trading terminal for NSE Cash, NSE F&O & BSE.
• Technical Studies.
• Multiple Charting.
• Real-time streaming quotes, tic-by-tic charts.
• Market summary (Cost traded scrip, highest value etc.)
• Alerts and reminders.
• Back-up facility to place trades on Direct Phone lines.
• Live market debts.

DIAL-N-TRADE
Along with enabling access for your trade online, the CLASSIC and
SPEEDTRADE ACCOUNT also gives you our Dial-n-trade services. With this service, all
you have to do is dial our dedicated phone lines 1-800-22-7500, 3970-7500.
Beside this, Relationship Managers are always available on Office Phone and
Mobile to resolve your queries.
ShareMobile*
Now Track the Market Anywhere..! Share khan had introduced Share Mobile,
mobile based software where you can watch Stock Prices, Intra Day Charts, Research &
Advice and Trading Calls live on the Mobile.
Stay updated with Share Mobile, Share khan’s new service that lets you to catch
the pulse of the stock market on your mobile phone. All you need is a Share khan
account and a GPRS enabled Mobile handset.
* Asper SEBI regulations, buying-selling shares through a mobile phone are not yet permitted. So when you
place a buy-sell order on Share Mobile, our Dial-n-Trade executive will call you back and place the order on
your behalf. This service is free and has NO extra fees.
PREPAID Account
Now you can buy Prepaid Account of Share khan. Pay Advance Brokerage on
your Account and enjoy uninterrupted trading in your Account. Beside this, get great
discount (up to 50%) on Brokerage.
Prepaid Classic Account : - Rs. 2000
Prepaid Speed trade Account: - Rs. 6000, 18000, 30000, 60000, 100000.
IPO ON-LINE
You can apply to all the forthcoming IPO online hassle free, paperless and time
saving. Simply allocate fund to IPO Account, Apply for the IPO and Sit Back & Relax.
Mutual Fund Online
You can apply to Mutual Funds of Reliance, Franklin Templeton

Investments, ICICI Prudential, SBI, Birla, Sundaram, HDFC, DSP Merrill Lynch,
PRINCIPAL, and TATA with Share khan hassle free, paperless and time saving.
Zero Balance ICICI Saving Account *
Share khan had tied-up with ICICI bank for Zero Balance Account for Share
khan’s Clients. Now you can have a Zero Balance Saving Account with ICICI Bank after
your demat Account creation with Share khan.
• Subject to Approval of Account

CHARGE STRUCTURE
Fee Structure for General Individuals: -
Charge Classic Account Speed Trade Account

Account Opening NIL NIL
Monthly Rs. NIL Rs. 500/=
Commitment
Brokerage Intra-day – 0.05%** Intra-day - 0.025%**
Delivery - 0.50 %** Delivery - 0.25%**
* Refundable in case the brokerage is more than Rs. 500/= p.m.
** Condition Apply.
*** Taxes as per govt.
Depository Charges
Account Opening Charges Rs. NIL

Annual Maintenance Charges Rs. NIL first year Rs. 300/= p.a. from
second calendar year onward
PRODUCT DETAILS
Online Trading:
(a) CLASSIC ACCOUNT: A/C Opening charges: Rs. NIL

Special Discount in A/c Opening Charges
Rs.300 from 2nd year onwards (Annual Maintenance charges). Trading through website
live terminal. No brokerage commitment required. NSE and BSE online. Both Cash &
F&O.
(b) SPEED TRADE: Account Opening Fee: Rs. 1000/- Both Cash & F&O.
Brokerage:
0.05 % Plus Taxes for Each leg of Intra-day trade

0.50 % Plus Taxes for trades resulting in delivery
EXPOSURE: 4 TO 6.7 TIMES (ON MARGIN MONEY) MAXIMUM 8 TIMES.
Online IPO's available

We have tie up with Twelve Banks for online fund transferring i.e. HDFC, ICICI, IDBI,
CITI, Union Bank of India, Oriental Bank of Commerce, INDUSIND, Yes Bank, Bank
of India, Centurion Bank of Punjab, Bank of Punjab and UTI bank for online money
transfer.
ACCOUNT OPENING AT SHAREKHAN
Documents Required
List of Documents
1) Proof of Identity
You can submit a photo copy of any of the following
Voter ID
Passport
PAN Card
MAPIN UID Card
Driving License
Photo I-card issued by Employer registered under
MAPIN
2) Copy of Ration Card
3) Address Proof
You can submit a photo copy of any of the following
Voter ID Card
Driving License
Passport
Ration Card
Telephone Bill
Electricity Bill
Leave-License
Purchase Agreement
Bank Passbook
Latest Bank Statement
Insurance Policy
Flat Maintenance Bill
4) A copy of cancelled cheque
5) Nominee photograph, if filled
6) Two Signed colored Photographs of all holders.

For Classic Account: - 1 cancelled cheque & 1 Margin cheque of Rs. 5000.
For Speed Trade: - 1 Account Opening Cheque of Rs. 6000/- in the favor of M/s
Share khan Limited.
RELIGARE
SECURITIES
LTD.

HISTORY
1994
- The Company was incorporated on 23rd March, and received the Certificate of
Commencement of Business on April 19. The Company was promoted by
Ranbaxy Laboratories Ltd. and its associates. The Company is engaged in
business of leasing, hire purchase, merchant banking and investments in capital
and money markets.
- 19,70,700 no. of equity shares of Rs 10 each and 157,50,000 preference
shares of Rs 10 each allotted to promoters. 10,29,300 No. of equity shares of Rs
10 each and 52,50,000 - 5% Convertible Preference shares of Rs 10 each were
issued in February 1995 through a prospectus as follows:
- (i) 2,75,300 no. of equity shares on firm allotment basis to promoters and
associate companies,
- (ii) 4,000 no. of equity shares to employees of the Company (all were taken up),
- (iii) 7,50,000 no. of equity shares of Rs 10 each and 52,50,000 Convertible
preference shares to public (all were taken up).
PROFILE
RELIGARE Securities Ltd. (RSL) is a wholly owned subsidiary of
RELIGARE Financial Services Ltd. (RFSL), a Company promoted by the late Dr.
Parvinder Singh, Ex-CMD of Ranbaxy Laboratories Ltd.
The primary focus of Religare Securities Ltd. is to cater to services in Capital
Market Operations to Institutional Investors. The Company is a member of the
National Stock Exchange (NSE) and OTCEI. The growing list of financial

institutions with whom RSL is empanelled as approved Broker is a reflection of

the high levels of services maintained by the Company.
RELIGARE financial services group comprises of Religare
Securities Limited, RELIGARE Comdex Limited and RELIGARE Finvest Limited
which provide services in Equity, Commodity and Financial Services business &
Religare Insurance Advisory Ltd.
PRODUCT & SERVICES
 Equity Trading
 Commodity Trading
 Mutual Funds promotion
 Depository Services
 Portfolio Management Services.
OFFERS
RELIGARE offers four different schemes to investors according to their varying
tastes, objectives and risk tolerance.
Each benefits from professional management that aims to provide consistent
returns at a reduced level of risk.
Aims to achieve gradual growth in the portfolio value over a period of time by way
of careful and judicious investment in fundamentally strong and attractive valued
shares.
Aims to achieve higher returns by taking aggressive positions across sectors and
market capitalization.

Aims to generate steady return over a longer period by investing in securities

selected only from BSE 100 index.
The scheme seeks to provide medium to long term capital appreciation by

investing in stocks across the market capitalization range
Scheme aims to achieve capital appreciation over along period of time by

investing in a diversified portfolio.
ACCOUNT OPENING AT RELIGARE

Guidelines to be followed for opening demat account:
1. Kindly fill account opening form after going through account opening
instruction given in the account opening form.
2. Please submit your duly filled & signed account opening form with one
photograph, proof of identity and proof of address documents of account
holder(s) as may be required.
3. Kindly sign agreement with DP (agreement will state rights & obligations
of both parties) and Schedule of Charges for Depository Services. Religare will
send a copy of agreement and schedule of charge along with Welcome kit for
your records.
4. Religare would intimate "Client Id" (account no.) through a welcome letter
once your depository account is opened. This 'Client Id' number along with
your 'DP Id' number forms a unique combination. Both these numbers should
be quoted in all your future dealings with Religare Securities Limited.
5. Religare will give you instruction slips for depository services viz.,
dematerialization, delivery instruction for trades, etc. These instruction slips
will bear pre-printed serial numbers and your pre stamped client-id. Kindly
preserve these carefully.

ICICI DIRECT

Products and Services

A product for every need: ICICIdirect.com is the most
comprehensive website, which allows you to invest in:
• Shares, Mutual funds,

• Derivatives (Futures and Options) and
• other financial products.
1. Trading in shares:
ICICIdirect.com offers various options while trading in shares.
Cash Trading : This is a delivery based trading system, which is

generally done with the intention of taking delivery of shares or
monies.
Margin Trading : One can also do an intra-settlement trading up to

3 to 4 times your available funds, wherein one takes long buy/ short
sell positions in stocks with the intention of squaring off the position
within the same day settlement cycle.
Margin PLUS Trading : Through Margin PLUS one can do an intra-

settlement trading up to 25 times available funds, wherein one
takes long buy/ short sell positions in stocks with the intention of
squaring off the position within the same day settlement cycle.
The ICICI direct Advantages

What so unique about ICICIdirect.com?
A Unique 3-in-1 account that gives:

Convenience: the 3-in-1 account integrates banking, broking and demat

accounts. This enables to trade in shares without going through the hassles of
tracking settlement cycles, writing cheques, chasing your broker for cheques or
Transfer Instructions etc.
Speed: now get the latest quotes of scrips on ICICIdirect.com and place an order
almost instantly.
Independence: Instead of transferring monies to a broker's pool or towards

deposits, managing own demat and bank accounts.
ACCOUNT OPENING AT ICICI DIRECT
• ICICIdirect.com account can be opened for a one-time non-refundable fee

of Rs 750/-.
• The brokerage rates are very reasonable. The rates vary according to the
volume of trades done.
• Annual Maintenance Charge: Rs.500
• Brokerage: 0.75% on Delivery and 0.04% for Intraday Square off.
• Fund transfer from ICICI bank only.
• For bank account, a minimum quarterly average balance of Rs 5000/-
needs to be maintained.
• ICICI Direct provides exposure of 8 times on the balance present in
trading account at the time of trade.


GEOJIT
FINANCIAL
SERVICES
Services
• The company is providing automated online trading.
• Geojit also provides a Call & Trade facility to its customers wherein they
can place and track their orders through our dedicated Call Centre Desk
by dialing the toll free number 1800-425-5501 or 91-484-2405822
• Geojit's retail spread caters to the need of individual investors. Trading in

equities is made simple, safe and interesting with smart advice from the
research desk through daily SMS alerts, market pointers, periodical

research reports, stock recommendations and customer meets organized

frequently.
• The online trading system allows customers to track the markets by

setting up their own market watch, receiving research tips, stock alerts,
real-time charts and news.
PRODUCTS OFFERED
 Silver
Gold and Silver platforms are quite similar as they are both web-based. In
Silver version the feeds are updated every minute and not real-time as in the
Gold platform. However, one can click the refresh button as many times to
view the latest stock prices. There are no minimum brokerage charges for this
platform. A normal investor who does not engage in speculative transactions
may find the Silver version most suited to his needs.
 Gold
This platform is a web-based solution and the customer can login to the
trading platform from anywhere in the world. During market hours the stock
prices are refreshed seamlessly and the delay in transmission would be a few
seconds, which is mostly dependant on the bandwidth connectivity used by
the customer. It is a web-based system; one can login from any where in the
world and take advantage of the price movements.
 Platinum
The Platinum version acts as a virtual dealers terminal providing live updates
and confirmation. The executable program is downloaded on the customers
computer so that he can trade from the comfort of his home / office. Stock
prices are real-time and continuously updated once logged in.
ACCOUNT OPENING AT GEOJIT
• Open a trading account and maintain initial margin with Geojit.

• Photocopy of address proof
• Photocopy of pan card.
• Two photographs.
• Account Opening Charge: They charge Rs.500/- for opening
demat/trading account
• Annual Maintenance Charge: They charge Rs.300/- as annual
maintenance fee.

• Brokerage: They charge 0.03% & 0.30% for online trading in intra day &
delivery respectively.
• For offline they charge Rs.300/month as brokerage. This is suitable for
regular traders; else you end up paying Rs.300/month.
• Geojit Financial Services provides exposure of 5 times.

INDIA BULLS

PRODUCTS
India Bulls is providing two types of products for their equity clients:
1. Power India bulls

2. India Bulls Signature Account
POWER INDIA BULLS
FEATURES
1. Live streaming quotes

2. Fast order entry
3. Tic by tic live charts
4. Technical analysis
5. Live news & alerts
6. Extensive reports for real time accounting.
INDIA BULLS SIGNATURE ACCOUNT
FEATURES
1. Online or offline
2. In depth research

SERVICES
1. Comprehensive financial services: India bulls provide the tools, resources
& support to execute the client’s trading strategies along with a range of
investment products & services.
2. Dedicated support & services by the relationship managers.
ACCOUNT OPENING AT INDIA BULLS

1. A passport size photograph.
2. Proof of Demat Account. For having a Depository account opened with
India bulls as well, relevant requirements are :
• Proof of Bank Account - A cancelled cheque.
• Photocopy of Income Tax Permanent Account Number
(PAN) Card.
• Address/Identity Proof - Photocopy of any of the following
 Passport
 PAN Card
 Voter ID
 Driving License
 Ration Card
3. Account Opening Charges: They charge Rs.500 for opening trading
account and demat account.
4. Brokerage: They charge 0.50% brokerage delivery & 0.04% intraday,
but this can be negotiated.
5. Online Fund transfer through HDFC, ICICI, Axis, IDBI bank.
6. It provides 6 times of exposure limits to its customers.
7. Annual account maintenance charges are Rs. 300/-.
8. No commitment for any minimum balance in trading account.

GRAPHICAL
REPRESENTATIONS

FREQUENCY OF TRADING
80%
DAILY, , 70%
70%
60%
%AGE OF TRADING
50%
40%
WEEKLY, , 30%
30%
20%
10%
0%
FREQUENCY OF TRADING
INTERPRETATION OF THE GRAPH
Out of 50 respondents, 35 respondents trade daily n 15 respondent’s trade

weekly.

ONLINE VS OFFLINE TRADING
60%
50%
40%
30%
20%
10%
0%
ONLINE 60%
OFFLINE 40%
Out of 50 respondents, 30 respondents prefer trading online & 20 trade offline.

COMPARATIVE
ANALYSIS ON
DIFFERENT
PARAMETERS AMONG
THE COMPANIES.

ACCOUNT OPENING CHARGES

1600
1400
1200
1000
800
600
400
200
0
SHARE ICICI INDIA
RELIGARE GEOJIT
KHAN DIRECT BULLS
BASIC NIL 500 750 500 500
ADVANCED 1000 NA NA NA 1450

Among the various companies whose data has been collected, the Share
khan is the only company who is charging nothing. ICICI Direct is having
highest account opening charges.
And Religare, Geojit & India bulls have the same account opening charges
for their basic product.

Intra day brokerage of SHAREKHAN stands highest at 0.05%.

Intra day brokerage of Religare stands stands lowest at .02%.

DELIVERY DROKERAGE
0.75%
0.50%
SHARE KHAN
0.30% 0.30%
0.25% RELIGARE
ICICI
GEOJIT
INDIA BULLS
Delivery brokerage of ICICI direct stands highest at 0.75%.

Delivery brokerage of Share khan stands lowest at 0.25%.

MINIMUM BALANCE IN TRADING

ACCOUNT
5000
4500
4000
3500
3000
IN RUPEES 2500
2000
1500
1000
500
0
SAHREKHAN RELIGARE ICICI DIRECT GEO JIT INDIA BULLS
It is mandatory for ICICI direct customers to have minimum average balance of

Rs. 5000/- in their account where as there is no such obligation in Share khan &
other companies taken under study.

EXPOSURE
10
9
8
7
6
NO. OF TIMES
5
4
3
2
1
0 SHAREKHAN RELIGARE ICICI GEO JIT INDIA BULLS

Religare is providing maximum exposure to its clients i.e., 10 times in intraday.
Followed by Share Khan & ICICI Direct by 8 times and INDIA BULLS with 6
times & Geojit is providing exposure of 5 times in intraday which is the least
among the companies under study.

ANNUAL ACCOUNT MAINTENANCE

CHARGES……..
300 300
SHARE KHAN
RELIGARE
ICICI
300 250
Geojit
INDIA BULLS
500
Among the companies under study, Share khan & India bulls has Rs 300
which is taken at the of 2nd year of account opening, it means that no charges
are there for 1st year & Religare has minimum account maintaining charges of
Rs 250 annually whereas ICICI direct has highest account maintenance
charges of Rs 500 taken annually.

COMPARATIVE CONCLUSIONS
• Most of the customers prefer online trading (60%).

• Mostly people (60%) like to do online trading because they find it user
friendly.
• Share khan has no account opening charges where as ICICI direct has
the highest of Rs 750.
• Religare provides its customers minimum brokerage of 0.02% in
intraday & Share Khan provides 0.25% at delivery.
• Highest brokerage is charged by ICICI at 0.75% at delivery.
• ICICI direct has fixed Rs 5000 as minimum balance in trading account
while its not required in other companies like Share Khan.
• Share Khan is providing maximum exposure to its clients i.e., 8 times in
intraday & two times at delivery after Religare at 10 times.
• Share Khan has no account maintenance charges for 1st year, fee for
maintaining clients account is charged in 2nd year i.e.. Rs. 300/- & Religare has
minimum account maintaining charges of Rs.250 while ICICI direct has
maximum of Rs.500.

SATISFACTION LEVEL OF THE

EXISTING CLIENTS OF
SHARE KHAN.
SATISFACTION LEVEL OF THE EXISTING CLIENTS OF SHARE KHAN ON

THE FOLLOWING PARAMETERS
 Service effectiveness
 Handling queries
 Problem handling
 Product diversity
 Relation with customer
 Product knowledge of employees
 Employee behavior
 Technical expertise of employees
 Employee dedication
 Employee motivation
 Company image
 Marketing strategies adopted by the co.
 Sales force
 Facilities provided by the co.
 Promotional activities undertaken by the co.

5
POINTS OUT OF 10
4
0
SERVICE RELATION
RESPONSE TO PROBLEM PRODUCT
EFFECTIVENES WITH
QUERRIES HANDLING DIVERSITY
S CUSTOMER
6 5 5 9 9
Respondents have given following points (out of 10) as per their satisfaction with
the company on following parameters
 Service effectiveness - 6
 Handling queries - 5
 Problem handling - 5
 Product diversity - 9
 Relation with customer - 9
(Points taken on average)

10
POINTS OUT OF 10 5
0
EMPLOYEE EMPLOYEE
EMPLOYEE EMPLOYEE EMPLOYEE
PRODUCT TECHNICAL
BEHAVIOR DEDICATION MOTIVATION
KNOWLEDGE EXPERTISE
3-D Column 2 8 10 8 8 7
 Product knowledge of employees - 8

 Employee behavior - 10
 Technical expertise of employees - 8
 Employee dedication - 8

 Employee motivation - 7
(Points taken on average)
10
POINTS OUT OF 10 5
0
PROMOTIONA
COMPANY MARKETING FACILITIES
SALES FORCE L ACTIVITIES
IMAGE STRATEGIES PROVIDED
INTERPRETATION OF THE GRAPH UNDERTAKEN
North 10 5 6 7 4
 Company image - 10
 Marketing strategies adopted by the co. - 5
 Sales force - 6
 Facilities provided by the co. - 7
 Promotional activities undertaken by the co. - 4

(points taken on
average)
OVERALL SATISFACTION OF
CLIENTS
2%
28%
SATISFIED
UNSATISFIED
CONVINCED
70%
Out of 50 respondents, 35 are satisfied with the services provided by

SHAREKHAN & 14 are convinced i.e., they find the services of SHARE KHAN
good.

ADDITIONAL FEATURES REQUIRED IN

ONLINE SHARE TRADING
20%
R.M.
CASH BASED
80%
 40 out of 50 respondents demanded proper assistance of Relationship

manager from time to time.
 10 out of 50 respondents wanted cash based share trading by the
company.

CONCLUSIONS OF THE PROJECT

Thus it can be concluded that
o SHARE KHAN has product diversity which is
a very important feature.
o SHARE KHAN provides all kinds of trading
facilities to its customers.
o The existing clients of SHARE KHAN are
satisfied with their company.
o The requirements of the existing clients of
SHARE KHAN is that some of them want cash based trading & a little more
assistance by their respective Relationship Managers.
SUGGESTIONS
 RM’s should take more interest in handling client’s queries.
 Cash based trading can fetch more customers to the company.
 More emphasis should be given on the publicity of the company.

Chapter V
BIBLIOGRAPHY
Web sites visited:
www.sharekhan.com
www.religare.in
www.icicidirect.com
www.geojit.com
www.nseindia.com
www.indiabulls.com

Chapter VI
ANNEXURE

Questionnaire for the study of satisfaction level of the existing clients of

SHARE KHAN.
1. Name of the person:

2. Name of the company:
3. Designation of the person:
4. Age:
5. Phone:
6. E-mail Id:
7. Sex:
i. Experience in stock market ________________years
ii Names of the companies worked with ___________________
iii Working experience with SHARE KHAN Limited. _________________
iv Names of the different product lines offered by SHARE KHAN _____________
v In which of the financial instruments do you invest in

a. shares
b. commodities
c. mutual funds
vi How frequently do you trade

a. daily
b. weekly
c. monthly
vii Which type of trading do you prefer

d. online
e. offline
viii Why do you prefer online / offline trading

a. time saving
b. place convenience
c. user friendly
d. any other
ix What differentiates your trading co. i.e. SHARE KHAN with others
a. brokerage
b. research reports
c. a/c opening charges
d. any extra facility

x Please give points for your level of satisfaction on the (out of 10) on
the following parameters
1 Effectiveness of the services offered

2 Response to your queries
3 Problem/grievance handling
4 Product knowledge of employees
5 Behavior of employees
6 Technical expertise of the employees
7 Facilities provided by the company
8 Image of the company
9 Marketing strategies
10 Sales team
11 Diversity in the products/services offered
12 Promotional activities undertaken
13 Employee dedication
14 Company relation with customer
15 Employee motivation
7. Any suggestion

Survey questionnaire
NAME:_______________ CONTACT NO.:________________
E-MAIL ID:______________________
Please put a tick mark against applicable option:
Questionnaire Responses
1. Do you invest? Yes No
If Yes Then;
• Bank FD’s
• Mutual Funds
• Shares
• Insurance
2. How aware are you about investing in shares?
• Well aware_______________
• Basic awareness__________
• Not aware________________
3. In case you are not aware, but interested, are you willing to attend
the SHARE Khan’s 1st STEP Programme ?
• Yes
• No
4. In case you are an investor already, what type of trading are you
Involved in?
• ONLINE
• OFFLINE
5. How frequently do you trade?
Daily___________ 2-3 Times a week___________

Once a Week_________ NO set pattern_____________

6. Whom you are registered with?
Share khan_____ Religare_____

ICICI Direct_____ Geojit_______
India Bulls______
7. In case you do not invest in shares, what is your perceived problem?
• Risk Factor_____
• Previous bad experience_____
• No knowledge_____
• Time Constraints_____
• Any Other_____
8. How much you can Trade in one transaction? ______________
9. Any reference of other willing to invest in the share market? _______


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SWAMI VIVEKANAND INSTITUTE OF ENGINEERING & TECHNOLOGY

Swami Vivekanand Institute Of

A project report submitted

A STUDY ON EQUITY MARKET SUMMER INTERNSHIP PROJECT 1

Under the Guidance of

I express my sincerest gratitude and thanks to honorable, Mr. SUSHIL SHARAWAT

Lastly, no words are enough to express my heartiest gratitude to my parents whose

A STUDY ON EQUITY MARKET SUMMER INTERNSHIP PROJECT 2

I, hereby state this project report submitted by me in partial fulfillment of requirements of

submitted for a degree of MBA.

A STUDY ON EQUITY MARKET SUMMER INTERNSHIP PROJECT 3

Chapter 1 : Industry Profile 7 – 22

1.1 Introduction and History

1.2 What is a Stock market ? Its purpose & function

1.4 Trading in India

1.5 Regulator of stock market

1.6 SEBI & its role

1.7 Primary market & its role

1.8 Secondary market – function

1.9 Primary vs Secondary market

1.10 Stock Exchange

1.11 Depository & dematerialization

1.12 NSE / BSE / OTCEI.

Chapter 2 : Company Profile 23 – 27

Chapter 3 : Introduction To The Project 28 – 31

Chapter 4 : Data Analysis

A) Share khan Ltd. 34 – 41

A STUDY ON EQUITY MARKET SUMMER INTERNSHIP PROJECT 4

B) Religare Securities Ltd 42 – 45

D) Geojit Financial Services 49 – 51

Graphical Presentation & Comparative Conclusions 56 - 71

7.1 Questionnaire for existing clients of Religare. 75 - 76

A STUDY ON EQUITY MARKET SUMMER INTERNSHIP PROJECT 5

S.NO. GRAPH TITLE PAGE NO.

2 Online vs offline trading 57

3 Account opening charges 59

6 Minimum balance in trading account 62

8 Annual maintenance charges 64

9 Satisfaction level of clients on diff. parameters 67 – 69

10 Overall satisfaction level of clients 70

11 Additional features required in online share trading 71

A STUDY ON EQUITY MARKET SUMMER INTERNSHIP PROJECT 6

A STUDY ON EQUITY MARKET SUMMER INTERNSHIP PROJECT 7

1.1 …….AN INTRODUCTION

– Transparency means paperwork diminishes significantly and no

• As there are hurdles in every progress or technological advancement. The

– Lack of Internet penetration

A STUDY ON EQUITY MARKET SUMMER INTERNSHIP PROJECT 8

1.1 HISTORY OF EQUITY MARKET

Contrary to most expectations, NSE succeeded, becoming the

A STUDY ON EQUITY MARKET SUMMER INTERNSHIP PROJECT 9

In 2001, a major crisis broke on the equity market. It involved numerous

1.2 STOCK MARKET

Total equity capital of a company is divided into equal units of small

A STUDY ON EQUITY MARKET SUMMER INTERNSHIP PROJECT 10

THE BOMBAY STOCK EXCHANGE IN INDIA

Function and purpose

1. It handles transfer of payments;

A STUDY ON EQUITY MARKET SUMMER INTERNSHIP PROJECT 11

3. It spreads and reduces (local enterprise) economic risks in relation to the

There are a number of reasons why a company issues securities: meeting a

1.4 TRADING IN INDIA

A STUDY ON EQUITY MARKET SUMMER INTERNSHIP PROJECT 12

Normal Market Open :- 09:55 hours