Acknowledgement

In present world of competition & success, training is like a bridge between theoretical & practical working. I would like to express my deepest gratitude to all the people who are a part of this project and helped me make it learning and a rewarding experience. This would not be possible without the help of Mr. Sunil Branch manager & other members of organization, they have given me this wonderful opportunity to be able to study and observe the whole branch. They helped me in coordinating and getting valuable information. They supported me with his invaluable insights and suggestions. My project and the tremendous work exposure I had in this company would have been incomplete if I not had their cooperation. I express my deepest gratitude to my Head of the Department, Dr. M.K Jain who is a source of constant support & guidance.

BACKGROUND OF STOCK EXCHANGE IN INDIA

The emergence of stock market can be traced back to 1830. In Bombay, business passed 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 union bank and Agra bank. It also quoted the prices of business ventures like the Bengal bonded warehouse, the Docking Company and the storm tug company. Between 1840 and 1850, only half a dozen brokers existed for the limited business. But during the share mania of 1860-65, the number of brokers increased considerably. By 1860, the number of brokers was about 60 and during the exciting period of the American Civil war, their number increased to about 200 to 250. The end of American Civil war brought disillusionment and many failures and the brokers decreased in number and prosperity. It was in those troublesome 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 native brokers doing brokerage business in shares and stocks resolved upon forming in Bombay an association for protecting the character, status and interest of native 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 and to appoint the first trustees. Accordingly, the Articles of Association of the Exchange and the Stock Exchange was formally established in Bombay on 3rd day of December, 1887. The Association is now known as The Stock Exchange. The entrance fee for new member was Re.1 and there were 318 members on the list, when the exchange was constituted. The number of members increased to 333 in 1896, 362 in

1916and 478 in 1920 and the entrance fee was raised to Rs.5 in 1877, Rs.1000 in 1896, Rs.2500 in 1916 and Rs. 48,000 in 1920. At present there are 23 recognized stock exchanges with about 6000 stock brokers. Organization structure of stock exchange varies.14 stock exchanges are organized as public limited companies, 6 as companies limited by 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 exchange do not work of its own, rather, these are run by some persons and with the help of some persons and institution. All these are down as functionaries on stock exchange. These are 1. Stockbrokers 2. Sub-broker 3. Market makers 4. Portfolio consultants etc.

1.) Stockbrokers Stock brokers are the members of stock exchanges. These are the persons who buy, sell or deal in securities. A certificate of registration 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, regulations and the buy-law. Stock brokers are commission broker, floor broker, arbitrageur etc. Detail of registered brokers 2.) Sub-broker A sub-broker acts as agent of stock broker. He is not a member of a stock exchange. He assists the investors in buying, selling or dealing in securities through stockbroker. The broker and sub-broker should enter into an agreement in which obligations of both should be specified. Sub-broker must be registered SEBI for a dealing in securities. For getting registered with SEBI, he must fulfill certain rules and regulation.
3

3.) Market Makers Market maker is a designated specialist in the specified securities. They make both bid and offer at the same time. A market maker has to abide by bye-laws, rules regulations of the concerned stock exchange. He is exempt from the margin requirements. As per the listing requirements, a company where the paid-up capital is Rs. 3 crore but not more than Rs. 5 crore and having a commercial operation for less than 2 years should appoint a market maker at the time of issue of securities.

4.) Portfolio consultants A combination of securities such as stocks, bonds and money market instruments is collectively called as portfolio. Whereas the portfolio consultants are the persons, firms or companies who advise, direct or undertake the management or administration of securities or funds on behalf of their clients.

IMPORTANCE OF EQUITY MARKET

FUNCTION AND PURPOSE
4

The equity market is one of the most important sources of companies to raise money. This allows business to be publicly traded, or raise additional capital for expansion by selling shares of ownership of the company in a public market. The liquidity that an exchange provides afford investors the ability to quickly and easily sell securities. This is an attractive feature of investing in stocks, compared to other less liquid investments such as real estate, mutual funds, investing in insurance scheme etc. History has shown that the price of shares and other assets is an important part of the dynamics of economic activity, and can influence or be an indicator of social mood. An economy where the stock market is on the rise is considered to be an up and coming economy. In fact the stock market is often considered the primary indicator of a countrys economic strength and development. Rising share prices, for instance, tend to be associated with increased business investment and vice versa. Share prices also affects the wealth of households and their consumption. Therefore central bank 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. Exchanges also acts as the clearinghouse for each transaction, meaning that they collect and deliver the shares, and guarantee payment to the seller of a security. This eliminates the risk to an individual buyer or seller that the counterparty could default on the transaction. 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.

List of stock exchanges in India

5

 Bombay Stock Exchange National Stock Exchange Regional Stock Exchanges Ahmedabad Stock Exchange Bangalore Stock Exchange Bhubaneshwar Stock Exchange Calcutta Stock Exchange Cochin Stock Exchange Coimbatore Stock Exchange Delhi Stock Exchange Guwahati Stock Exchange Hyderabad Stock Exchange Jaipur Stock Exchange Ludhiana Stock Exchange Madhya Pradesh Stock Exchange Madras Stock Exchange Magadh Stock Exchange Mangalore Stock Exchange Meerut Stock Exchange OTC Exchange Of India Pune Stock Exchange Saurashtra Kutch Stock Exchange Uttar Pradesh Stock Exchange Vadodara Stock Exchange

ABOUT INDIABULLS

Indiabulls Group is one of the top business houses in the country with business interests in Real Estate, Infrastructure, Financial Services and Power sectors. Indiabulls Group companies are listed in Indian and overseas financial markets. The Networth of the Group exceeds USD 2 billion. Indiabulls has been conferred the status of a Business Superbrand by The Brand Council, Superbrands India. Indiabulls Financial Services Ltd is a public company and listed on the National Stock Exchange, Bombay Stock Exchange, Luxembourg Stock Exchange and London Stock Exchange. The market capitalization of Indiabulls is approx US $ 800 million, and the consolidated net worth of the company is approx US $ 400 million. Indiabulls and its group companies have attracted US $ 300 million of equity capital in Foreign Direct Investment (FDI) since March 2000. Indiabulls ranks at 82nd position in the list of most valuable companies in India. Business of the company has grown in leaps and bounds since its inception. Total Revenues up to Rs. 1901 crore in 2011 from Rs. 1,783.5 crore in FY 2010. During the same period the EBIT of company grew from 1191.8 crore in FY 10 to 1302.6 crore in 2011. Indiabulls became the first company to bring FDI in Indian Real Estate through JV with Farallon Capital Management LLC, a respected US based investment firm. Indiabulls has demonstrated

deep understanding and commitment to Real Estate market by winning competitive bids for landmark properties in Mumbai and Delhi.

Philosophy
Indiabulls has created a unique organization that is designed for you the Smart Investor . it passionately believe in the Smart Investor who wants to make his own educated investment choices and demands world class access to a full range of services and products ranging from Equities to Insurance, combined with the highest level of integrity, service and professionalism.

Indiabulls is a full service investment firm offering clients access to a tremendous range of financial services from 135 locations across 95 cities. We have a strong team of over 1000 Client Relationship Managers focussed on serving customers unique needs. Our world class infrastructure, built with tens of crores of investment, provides our clients with real-time service, multi-channel & 24/7 access to all information and products. As we've expanded and developed to serve the needs of all kinds of investors, we've been guided by one underlying philosophy: You

come first.

HISTORY AND EVOLUTION OF ORGANISATION

Indiabulls Financial Services Limited was incorporated on January 10, 2000 as M/s Orbis Infotech Private Limited at New Delhi under the Companies Act, 1956 with Registration No. 55 - 103183. The name of Company was changed to M/s. Indiabulls Financial Services Private Limited on March 16, 2001 due to change in the main objects of the Company from Infotech business s to Investment & Financial Services business. It became a Public Limited Company on February 27, 2004 and the name of Company was changed to M/s. Indiabulls Financial Services Limited. And Now this company has achieved milestone by voted as The Youngest Company of the year in ET500 It started its business in the May 2000. When 3 IIT ians by the name Mr. Sameer Gehlot, Mr. Rajiv Rattan, Mr. Saurabh Mittal took over Orbis Securities. They had a vision to have an online broking system based on an American concept. It started with 2 branches all over the nation and a handful employee. Currently it has more than 640 branches all over India, and a huge client base of 4, 50,000 customers, served by around 4000 relationship managers and several support staffs (comprised of dealers and back office staff). It cater clients with wide range of financial services and products from securities, derivatives trading, depositary services, research & advisory services, consumer secured & unsecured credit, loan against shares and mortgage and real estate business.
10

It has an in house team house technical team which has developed the site Indiabulls.com, and the power Indiabulls software (a desktop software application to trade with speed and technology). The product became so famous that it became the companys name.

Previous Name New Name Orbis InfoTech Private Indiabulls Financial Limited Services Private Limited

Date of change March 16, 2001

Reason for change Due to change in the main objects of the company from InfoTech business to investment and financial services. Conversion from Private Limited to Public Limited Company

Indiabulls Financial Services Private Limited

Indiabulls Financial Services Limited

Feburary 27, 2004

We are proud to introduce to you Indiabulls Professional NetworkTM that offers real-time prices, equity analysis, detailed data and news, intelligent analytics, and electronic trading capabilities, right at your finger-tips. This powerful technology is complemented by our knowledgeable and customer focussed Relationship Managers who are available to help with your financial planning and investment needs. Foreign Institutional Investors (FIIs) hold over 37.13 percent shareholding of Indiabulls with 111414858 number of shares. Some of the large shareholders of Indiabulls are the largest financial institutions of the world such as Fidelity Funds, Capital International, Goldman Sachs, Merrill Lynch, Lloyd George and Farallon Capital. General public hold over 9.51 percent shareholding of Indiabulls with 28096647 number of shares as per data released on 30-9-2010.

11

Indiabulls Financial Services is a retail financial services company providing a diverse array of financial products and services, through its nationwide network of over 300 Indiabulls offices, and services over 3,10,000 clients spread across 110 cities in India. Indiabulls, along with its subsidiary companies, offer consumer loans, brokerage and depository services, personal loans, home loans and other financial products and services to the retail markets. Indiabulls, which has a workforce of over 10,000 full time employees, reported US $ 60 million in Profit Before Tax and US $ 45 million in Net Profit for the first nine months of the current financial year. The Indiabulls financial securities limited in further de-merging into Indiabulls securities limited, Indiabulls credit services ltd, and Indiabulls Housing Finance Limited. These are listed on the National Stock Exchange, Bombay Stock Exchange and Luxembourg Stock Exchange. Their group companies have attracted USD 500 million of equity capital in Foreign Direct Investment (FDI) since March 2000. Some of the large shareholders of Indiabulls are the largest financial institutions of the world such as Fidelity Funds, Goldman Sachs, Merrill Lynch, Morgan Stanley and Farallon Capital.

12

LISTING

The equity shares issued through this Red Herring Prospectus are proposed to be listed on The Stock Exchange, Mumbai and The National Stock Exchange of India Limited. Indiabulls have received in-principle approval from these Stock Exchanges for the listing of their Equity Shares Pursuant to letters dated May 14, 2004 and May 31, 2004 respectively. The Stock Exchange, Mumbai is proposed to be Designated Stock Exchange.At present INDIABULLS is listed on the National Stock Exchange, Bombay Stock Exchange, Luxembourg Stock Exchange, London Stock Exchange.

ISSUE PROGRAMME

BID/ ISSUE OPENS ON SEPTEMBER 6, 2004 BID/ ISSUE CLOSSES ON SEPTEMBER 10, 2004. It issued shares of Face value Rs.2/- at in the market at a premium of Rs.17/- summing up to Rs.19/-, its stock listed in the National exchanges like NSE and BSE at the rate of Rs.21/-. In just 4 years time they have emerged as one of the leading and fastest growing financial company.

13

About Founders
The fast paced growth, diversification and consolidation of the Group has been possible due to the vision and leadership of the co-founders of Indiabulls.

Mr. Sameer Gehlaut is the Chairman, CEO and worked internationally with Halliburton in
its international services business in 1995. He has utilized his experience with the international best practices and professional work culture at Halliburton to lead Indiabulls successfully.

Mr. Rajiv Rattan is the President, CFO and Whole Time Director of Indiabulls. Rajiv is an
engineer from IIT, Delhi (1994) and has rich experience in the oil industry, having worked extensively across the globe in highly responsible assignments with Schlumberger. Rajiv has managed remote exploration projects providing evaluation services for different clients in India as well as abroad.

Mr. Saurabh Mittal is a Director at Indiabulls. Declared the best graduating student in IIT,
Delhi in (1995), Saurabh was also one of the engineers selected by Schlumberger to work for its international services business in 1995 and gained experience of working in various global locations. He graduated as a Baker Scholar with an MBA from the Harvard Business School. He has also developed in-depth understanding of international financial markets It was initially funded by two venture capitalists , L N Mittal ventures (Mr. Mittal, the richest Indian in the world), and transatlantic corp., later on Fidelity Funds, Goldman Sachs, Merrill Lynch, Morgan Stanley and Farallon Capital also picked up a stake in the company after the IPO.

14

ORGANIZATION STRUCTURE OF INDIA BULLS

Introduction: Indiabulls is a group composed of six major companies, there are some more division in Indiabulls Realities limited which makes the below chart look huge. Indiabulls commodities Ltd is sixth company which is not included in chart because this company now merged with Indiabulls securities Ltd. The organizational structure of Indiabulls is presented in forms of charts. These charts are arranged in the form of hierarchy, since the aim of this report is to understand Indiabulls securities Ltd and its functioning, this section will shed more light to Indiabulls securities Ltd.

INDIABULLS FINANCIAL SERVICES LIMITED

FINANCIAL SERVICE GROUP

REAL ESTATE GROUP

INDIABULL SECURITY LIMITED

INDIABULLS CREDIT SERVICE LIMITED

INDIABULLS HOUSING FINANCE LIMITED

INDIABULLS FINANCE COMPANY PRIVATE LIMITED

INDIABULLS ESTATE LIMITED

INDIABULLS PROPERTIE S PRIVATE LIMITED

INDIABULLS STATE COMPANY PRIVATE LIMITED

INDIABULLS INFRASTRU CTURE LIMITED

15

Indiabulls Securities Ltd

DirectorOnline Gagan Banga
Administr ation Operations & Service Quality Technolog y

DirectorOffline Divyesh Shah

Corporate Affairs Human Resources CorporateC ommunicat ions

Finance

Legal

Customer Service

Recruitmen t

Marketing

Training

Sr. VicePresidents Regional Manager Branch Manager Relation ship Manager

The above given charts shows the organizational structure of Indiabulls securities Ltd which is broadly classified as on-line and off-line the difference between two is, the way trading is done.

16

GEOGRAPHICAL AREA COVERAGE

B RANC ES H
900 800 700 600 500 400 300 200 100 0 2005 2006 2007 2008 2009 2010 2011 Series 1

Indiabulls started its journey in year 2001 with a registered office in New Delhi. Year 2004 describes that it have only 25 branches in India, but now it has reached 650 branches in 2011.

17

PRODUCTS AND SERVICES OFFERED BY INDIABULLS

18

INDIABULLS SECURITIES LIMITED

It is Indias leading capital markets company with over 2500 branches in more than 110 cities. Indiabulls Securities Limited (ISL) is the pioneer in Retail Broking Industry having a pan India presence and providing services to a customer base exceeding half a million. ISL is in the business of providing securities broking and advisory services and is a corporate member of capital market, wholesale debt market and derivative segment of NSE and of the capital market and derivative segment of BSE. ISL is the first and only brokerage house to be assigned the highest rating BQ-1 by CRISIL. ISL was incorporated as GPF Securities Private Limited on 9th June 1995. The name 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 again changed to Orbis Securities Limited on January 5, 2004 and later to Indiabulls Securities Limited on February 16, 2004 so as to capitalize on the brand image of the term Indiabulls in the company name. The company through various types of brokerage accounts provides product and services related to purchase and sale of securities listed in NSE and BSE. It also provides depository services, equity research services, mutual fund, IPO distribution to its clients. The company provides these services through on-line and off-line distribution channel.

19

ONLINE IPO

For various reasons, we often miss the opportunity of subscribing to an IPO. It can either be because we could not procure the application form or we did not have the time to fill up the form and submit it. The most important benefit of the 'ONLINE IPO facility offered by Indiabulls Securities Ltd. is the convenience in submission of applications from anywhere breaking the limitations of time and geography. You dont need to submit the application in paper form, or write a cheque or go to submit it anywhere. Now you have the convenience at your fingertip. You can quickly and seamlessly apply to the latest public offerings with just a few clicks. Indiabulls Securities Ltd. offers ONLINE IPO facility to its registered trading customers at absolutely no cost. To use the ONLINE IPO feature, you need to fulfill the following criteria :

You must be registered for internet Trading with Indiabulls Securities Ltd. You must have a demat account with Indiabulls Securities Ltd. You must have signed the POA agreement for OnlineIPOs. You must have access to Net Banking facility with those banks with which Indiabulls is providing Payment Gateways. Currently, we are providing payment gateways for ICICI, IDBI and HDFC banks.

20

TRADING WITH INDIABULLS

Trading: It is a process by which a customer is given facility to buy and sell share this buying and selling can only be done through some broker and this is where Indiabulls help its customer.A customer willing to trade with any brokerage house need to have a demat account, trading account and saving account with a brokerage firm. Any one having following document can open all the above mentioned account and can start trading.

Document Required :

3 photographs ( signed across) Photo Identification Proof - any of the following - Voter ID/Driving License/Passport. Address Proof any of the following - Voter ID/Driving License/ Passport/ Bank statement or pass book sealed and attestation by bank official/ BSNL landline bill. A crossed Cheque favoring India bulls Securities Ltd. of the required amount. The amount for Demat as well as trading will be Rs. 900/-(free Demat +900 Trading Account) the minimum amount being Rs. 900 a cheque can be given for a larger amount.

Copy of PAN Card is mandatory. Registration Kit CDSL Demat Kit Bank and address proof declaration. (Master undertaking) PAN name discrepancy form

These documents may not be consumer friendly but it is to avoid illegal transaction and to prevent black money this ensures that money invested is accounted.
21

There are 3 mediums of using/ assessing trading services: Power Indiabulls (PIB) Indiabulls Signature Account Relationship manager (RM)

Power Indiabulls

Power Indiabulls(PIB) is an online trading platform which brings you the power of a brokers terminal on your desktop. It is an in-house developed internet enabled trading solution that supports securities and derivatives trading with NSE and BSE. PIB is designed for the high volume traders that provide access to multiple market segments through the ease of a single terminal. Designed by the technology team of Indiabulls, PIB comes with several enhanced features, which makes it the best desktop trading application in the country today. You can create market watches where you can view live broadcast of stocks both in capital as well as F&O segment. Stock prices get updated automatically every second without any manual intervention. PIB provides you with extensive real time reports to evaluate the performance of your portfolio.

Salient features of Power Indiabulls:

o o o o o o o

Integrated market watch for securities and derivatives Live Streaming Quotes Fast Order Entry Tic by Tic Live Charts Technical Analysis Live News and Alerts Extensive Reports for Real-time Accounting

Benefits:

22

Priority access to Relationship Managers who are dedicated to support your trading and investing needs. Get access to Indiabulls Equity Analysis of more than 500 listed companies. Get access to Research Reports. Enjoy competitive commissions and get the service and support you need at a fair price

o o o

Indiabulls Signature Account

With Indiabulls Signature account you will always remain on top of your investments. It provides you the platform to trade in Equity and Derivatives. With an unmatched service and nationwide presence, the Indiabulls Signature account comes bundled with a variety of exclusive features.

Ease of trading With Indiabulls Signature account you have the flexibility to place your orders either by logging on the website, calling at the branch or walking in the branch. Dedicated Service Branch and Relationship Manager: You can get in touch with your Relationship Manager and Service Branch for all your trading related requirements. Power Indiabulls (PIB): You can trade smarter and faster using the Power Indiabulls application. Access the broad spectrum of sophisticated trading tools and get an edge in the stock markets.

Online Payment Gateways: Use our online payment gateways facility and get instant credit in your Trading Account. We currently provide online gateway payment facility with four major banks HDFC, ICICI, AXIS and IDBI.

IPOs Indiabulls provides you the flexibility to apply in ongoing IPOs through either online or offline channels. For applying online, you do not need to fill tedious forms and write cheques. You can apply conveniently in IPOs from the comfort of your home / office through our Website/PIB. For applying offline, you can contact your Relationship Manager/ Service Branch.

Portfolio Tracker: You can track your investments online through our portfolio tracker functionality. You can conveniently track the daily movement, notional / booked profits and losses in your portfolio.
23

Equity Analysis Report A qualified and dedicated team of equity analysts at Indiabulls publishes various research reports. You can view these reports to gain insight into the companies of your interest.

News Room: The News Room provides real-time news from stockmarkets, corporate sector, economy and other segments that have a bearing on the market sentiment.

Market Statistics: This functionality facilitates tracking the market trend by providing you real time data on top gainers, top losers, volume toppers and most volatile stocks. Mobile Power Indiabulls (MPIB): MPIB is a mobile-phone based application, developed exclusively for Indiabulls customers. Using MPIB, you can view the live market rates of your favorite stocks and futures contracts on your mobile device. Thus with MPIB, you can always remain connected with the market, even on the move.

Electronic Contract Notes on Email: This facility enables you to get digitally signed Electronic Contract Notes on email within 24 hours of executing trades in your Trading Account.

Relationship Manager
Relationship Manager driven sales model provide high quality service and exploit cross-sell opportunities Our clients benefit from the personal attention and advice of the trained and motivated relationship manager. All our relationship managers are qualified and educated professionals, who have been extensively trained in-house to provide the products and services to the clients. The relationship managers are encouraged to develop long term relationships with the clients and can access a variety of resources within our company, such as insurance specialists, research services and others to add value to our clients. Most of our clients have dedicated relationship managers irrespective of the channels they use.

24

Indiabulls Depositary Services

Indiabulls is a depository participant with the National Securities Depository Limited and Central Depository Services (India) Limited for trading and settlement of dematerialised shares. Indiabulls performs clearing services for all securities transactions through its accounts. We offer depository services to create a seamless transaction platform execute trades through Indiabulls Securities and settle these transactions through the Indiabulls Depository Services. Indiabulls Depository Services is part of our value added services for our clients that create multiple interfaces with the client and provide for a solution that takes care of all your needs.

Indiabulls Equity Analysis

Indiabulls Equity Analysis complements its equity broking and advisory services with high quality comprehensive report which can be accessed online. Research report assess the potential strength and investment risk by doing in-depth and exhaustive analysis of operational and financial performance of company, Peer group analysis, present Industry scenario using advanced and sophisticated forecasting tools and models. These research reports identify, examine and distill attractive investment opportunities to help you in building and maintaining your ideal portfolio. Salient features of Indiabulls Equity Analysis:
o o o o o o o o

Covers report of more than 540 company Updated on a daily basis Scorecard on Fundamentals, Valuations and risk Peer Analysis Valuation of potential growth Industry Scenario Expansion plan Details of Mergers and Acquisitions

25

26

HOW TRADE TAKES PLACE AT INDIABULLS

First of all, the requirement for trading is to log on Indiabulls has its software Power Indiabull (PIB) which makes the trading possible. There are 2 types of transactions Buy Sell

BUY TRANSACTION
Check the buying limit

In the buying transaction, the system will check the buying limit of the buyer after checking the balance. If there is sufficient balance in the account then the PIB will proceed further. Otherwise it will display that the client has insufficient balance to execute the balance. Placement of order

After checking the limit, the consumer places the order in accordance with the limit available in his account. If still customer places order above the limit the reason for rejection will be displayed immediately. Order accepted

The order if accepted it will be transmitted to the exchange for the execution. On execution of the transaction the confirmation message is displayed on the screen if the price strikes. But if the price doesnt strikes it will remain pending. If the customer feels to modify the price, it can modify anytime before the striking of the desired price. If the order is confirmed, it is flashed on the screen. On the execution the confirmation may be sent to the customer mobile or email or contract note may be sent to the customer by hand.

27

SELL TRANSACTION

In case of sell transaction, the procedure is more or less same. First of all the software will check DP accounts for the quantity.

Reject order

The order may be rejected if more number of shares has been entered than it has been in DP account. The reasons for same will be flashed on the computer screen.

Accept order

If the order is accepted the order will be transmitted to exchange for the execution. The investor can give the price of his own or it may sell at the market price. If he has given his own price the order will remain pending until and unless the price strikes. Pending order

If the price doesnt strike the order will remain pending and if the investor feels at any point before the striking of the price to change the offer price he can modify or even delete the transaction. Confirmation of the order

If the order is confirmed it is immediately flashed on the screen. On execution the confirmation may be sent to the customer mobile or email or contract note may be sent to the customer by hand.

28

Executive Summary
There is growing competition between brokerage firms in post reform India. For investor it is always difficult to decide which brokerage firm to choose. Research was carried out to find which brokerage house people prefer and to figure out what people prefer while investing in stock market. This study suggest that people are reluctant while investing in stock and commodity market due to lack of knowledge Main purpose of investment is returns an d liquidity, commodity market is less preferred by investors due to lack of awareness. The major findings of this study are that people are interested to invest in stock market but they lack knowledge. Through this survey we were also able to understand, what are our Companys ( indiabulls) 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 improvement can be done to our product.

Other five major players in the market

1) ICICI Direct 2) Indiainfoline security private ltd 3) HDFC security 4) Sharekhan 5) Religare Securities
29

ICICI DIRECT
ICICI Web Trade Limited (IWTL) maintains www.icicidirect.com (herein after reffered to as website) Whereas IWTL is an Affiliate of ICICI Bank limited and the website is owned by ICICI Bank Limited. IWTL has launched and established an online trading service on the Website. ICICIDirect.com gives investors an opportunity to buy and sell shares online. Registered users can trade in shares listed on the National Stock Exchange (NSE) and which are in the compulsorily DMAT list. Currently there are 761 stocks which are traded in the demat form. Scrips in the rolling settlement will be traded in the rolling format while those permitted in the normal settlement cycles will be executed under the weekly settlement schedule.

Products and Services

.

Investing in Mutual Funds Personal Finance Customer Service Features IPOs Trading in Shares Cash Trading Margin Trading Margin PLUS Trading
30

Call Trade Trading on NSE/BSE Trading in Derivatives

ICICI Direct Advantages

A unique 3-in-1 On-line Trading Account 3-in-1 trading platform links your banking, trading and demat accounts, ensuring unmatched convenience for customers. With an ICICIdirect.com account, you get the following benefits: a) Seamless Trading : You can trade in shares without going through the hassle of tracking settlement cycles, writing cheques and transfer instructions. Absolutely hassle free! b) Security: Instead of transferring monies to a broker's pool or towards deposits, you can manage your own demat and bank accounts when you trade through ICICIdirect.com. It provides you the flexibility to pay only when you trade. c) Wide range of products: Share trading in both NSE and BSE, innovative offerings like Margin, MarginPlus, BTST, SPOT. Derivatives trading, overseas trading, mutual funds, IPOs and on-line life insurance. e) Control: You can be rest assured, that your order will be precisely for the amount you wanted it to be, without any deviation, giving you full control of your money and your trades

31

HDFC SECURITY
HDFC security is the subsidiary of HDFC (Housing Development Financial Corporation). www.hdfcsec.com would have an exclusive discretion to decide the customers who would be entitled to its online investing services. www.hdfcsec.com also reserves the right to decide on the criteria based on which customers would be chosen to participate in these services .The present web site (www.hdfcsec.com) contains features of services that they offer/propose to offer in due course. The launch of new services is subject to the clearance of the regulators. i.e. SEBI, NSE and BSE.

PRODUCT OFFERED BY HDFC SECURITY

Online trading for Residents & Non Resident Indians. Cash-n- carry on both NSE & BSE. Day trading on both NSE& BSE. Trade on futures & options on the NSE. Online IPOS Telephone based Broking (Equity & Derivatives)

Brokerage and fees

32

Rs. 799/- (including trading account, bank account and DP account with HDFC) Please note: HDFC Bank savings account requires a quarterly minimum balance of Rs. 2,500/-. If you already have saving account or DP account with HDFC, you could link them with trading

INDIAINFOLINE SECURITY PRIVATE LTD

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 (Stock Brokers and Sub-Brokers) Rules 1992. IILSPL is in the business of providing broking services online via the Internet ("Ebroking Services") and has been permitted by the NSE by way of registration permission no: NSEIL/CMO/INET/1103/2000 dated 03/July/2000, and will be applying for permission to the BSE, to provide E-broking Services to its clients. IILSPL is a TRADING MEMBER of the National Stock Exchange of India.

PRODUCT OFFERED BY IILSPL

33

Stock market:-IILSPL deals in stock market by trading in equity and

derivatives.

Personal finance:- It Deals In Mutual Fund and Insurance. Online Trading :- It provides services in stock and commodity trading
(through Internet).

SHAREKHAN
Sharekhan is online stock trading company of SSKI Group, provider of India-based investment banking and corporate finance service. Sharekhan is one of the largest stock broking houses in the country. S.S Kantilal Securities Limited (SSKI) has been among indias leading houses for more than a century. Sharekhans equity related services include trade execution on BSE, NSE, Derivatives, Comodities, Depository Services, online trading and investment advice. Trading is available in BSE and NSE. Along with Sharekhan.com website, Sharekhan has around 510 offices (share shops) in 170 cities around the country. Sharekhan has one of the best state of art web portal providing fundamental and statistical information across equity, mutual funds and IPOs. You can surf across 5500 companies for indepth information, details about more than 1500 mutual fund schemes and IPO data. You can also access other market related details such as board meetings, result announcements, FII transactions, buying/ selling by mutual funds and much more.

34

Types of Account

Sharekhan Classic account Allow investor to buy and sell stocks online along with the following features like multiple watch lists, Integrated Banking, demat and digital contracts, Real-time portfolio tracking with price alerts and Instant credit & transfer. a. Online trading account for investing in Equities and Derivatives b. Free trading through Phone (Dial-n-Trade) I. II. III. IV. V. Two dedicated numbers for placing your orders with your cellphone or landline. Automtic funds tranfer with phone banking (for Citibank and HDFC bank customers) Simple and Secure Interactive Voice Response based system for authentication get the trusted, professional advice of our telebrokers After hours order placement facility between 8.00 am and 9.30 am

c. Integration of: Online trading + Bank + Demat account d. Instant cash transfer facility against purchase & sale of shares e. IPO investments f. Instant order and trade confirmations by e-mail g. Single screen interface for cash and derivatives

Sharekhan SpeedTrade account This accounts for active traders who trade frequently during the day's trading session. Following are few popular features of Speed Trade account. I. II. III. Single screen interface for cash and derivatives Real-time streaming quotes with Instant order Execution & Confirmation Hot keys similar to a traditional broker terminal

35

IV. V. Brokerage:

Alerts and reminders Back-up facility to place trades on Direct Phone lines

Some stock trading companies charge direct percentage while others charge a fixed amount per Rs 100. Sharekhan charges 0.05% for inter day shares and 0.5% for intra day or you could say Sharekhan charges 50 paise per Rs 100.

RELIGARE SECURITIES LIMITED

Religare Securities Limited (RSL), a 100% subsidiary of Religare Enterprises Limited is a leading equity and securities firm in India. The company currently handles sizeable volumes traded on NSE and in the realm of online trading and investments; it currently holds a reasonable share of the market. The major activities and offerings of the company today are Equity Broking, Depository Participant Services, Portfolio Management Services, International Advisory Fund Management 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.

RSL is a member of the National Stock Exchange of India, Bombay Stock

Exchange of India, Depository Participant with National Securities Depository Limited and Central Depository Services (I) Limited, and is a SEBI approved Portfolio Manager.

36

Religare has been constantly innovating in terms of product and services and to

offer such incisive services to specific user segments it has also started the NRI, FII, HNI and Corporate Servicing groups. These groups take all the portfolio investment decisions depending upon a clients risk / return parameter.

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.

Type of Account
R-ACE (Basic) It is the basic online trading account provided by Religare. Investor can trade and access their account information online and over the phone as well. This account comes with a browser based online trading platform and no additional software installation needed. This account also provides Lifetime free DP account with no annual maintenance charges. R-ACE Lite (Advanced) It is the advanced account option for the investor with Religare. This trading account provides the entire feature of R-ACE (Basic) account. In addition it also provides real streaming stock quotes and alerts. This trading platform is also browser based and no software installation is needed.

37

R-ACE Pro (Professional) As the name indicates this account is for high volume traders. Along with the features from above 2 accounts, this account also comes with a Trading Terminal, software which needs to install on your computer. This terminal directly connects the investor to stock market and having all industry standard trading terminal features including technical charting (intra-day and EOD), multiple eatch list, advanced hot-key functions for better trading, derivative chains, future and options calculator. As in basic and advance account, trading is available online through internet and offline through phone.

REVIEW OF LITERATURE
According to SEBI, Professional Rating of market intermediaries, as a concept, is a matter of debate and discussions. The need for rating is felt not only from the point of view of greater disclosure requirements for investors interests, considering the important role such intermediaries play, being an interface between investors and exchanges but also from the point of view of measuring the adequacy of systems and controls to meet internal as well as external compliance requirements. So that need for Intermediaries Rating services (Brokers), In view of the developments that are taking place in the capital markets, the need to constantly upgrade and improve systems and procedures in operation as well as skill sets has gained considerable importance. Besides compliance with regulatory requirements both in letter and spirit has assumed significance so as to mitigate risk and ensure adequate protection of investors interest. And Rating objectives / benefits are rated entity would be in a position to brand its image and capitalize the same for

38

generating more business. In a nutshell, the product may accrue significant benefits to all stakeholders including the investors, stock brokers themselves, the regulator and others who will benefit from the transparency and the consequential focus on efficiency . According to SEBI and Intermediaries Regulation and Supervision Department, different factors are consider for rating process Organization structure, Policy on Investors interest, Risk Management Policy and System, Organization process and procedures, Management policy on compliance, Financials, History/Background, Firmspositioning. One reason the institutions make so much money is that they are trading. They make money every time you buy or sell. They make money whether you win or lose. That means that when youre investing, youre basically just sitting there. Youre not going anywhere. Youre not making money as an investor.

RESEARCH METHODOLOGY
Objective Of Research
Each research study has its own specific purpose. It is like to discover to 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 has two objectives.

PRIMARY OBJECTIVE: -How INDIABULLS Ltd is best services providers as a stock broker SECONDARY OBJECTIVE:

1. To study about the awareness towards stock brokers and share market. 2. To study about the competitive position of Indiabulls securities Ltd in Competitive Market. 3. To study about the effectiveness & efficiency of indiabulls securities Ltd in relation to its competitors 4. To study about whether people are satisfied with indiabulls Services & Management System or not

39

5. To study about the difficulties faced by persons while Trading in indiabulls. 6. To study about the need of improvement in existing Trading system.

TYPES OF RESEARCH:On the basis of theoretical study a research has many types. All of these are distributed on the nature of research. Some of these are like 1. Descriptive and Analytical 2. Qualitative and Quantitative 3. Conceptual and empirical 4. Applied and fundamental

Our research is based on Descriptive, Qualitative and Quantitative research.

Descriptive Research:Descriptive research includes surveys and fact finding enquires of different 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:In our research we need comparison between different stock brokers. So this 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 in a particular manner or which make people like or dislike a particular thing.

Quantitative research:-

40

Quantitative research is based on the measurement of quantity or amount. It is applicable to phenomena that can be expressed in terms of quantity. So we can use it in our research for collection of all the numerical data.

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 sample Generally Sample designs are two types 1.PROBABILITY RESEARCH DESIGN 2. NON PROBABILITY RESEARCH DESIGN We used the probability research design.

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 study. In my research study Kurukshetra as a sampling unit.

SIZE OF SAMPLE This refers to the number of items to be selected from the universe to constitute a sample In our
research sample size is 50. But we also study the 5 stock broker companies related to security & commodity market for the appropriate collection of the information.

SOURES OF DATA COLLECTION

41

While deciding about the method of data collection to be used for the study the researcher should keep to types of data. 1. Primary Data 2. Secondary Data. We use in our research primary data, as well as secondary data. Primary means collected a fresh, and the first time data and secondary means which are already available like annual report, magazines etc.

COMPARITIVE ANALYSIS BETWEEN DIFFERENT STOCK BROKING COMPANIES

1. a) b) ON THE BASIS OF BROKERAGE CHARGES Intraday Based Delivery Based

42

INDIABULLS SEC. LTD. Charges maximum 0.1 % on Intraday and 0.5 % on delivery based transaction per Rs 100 (on buying and selling) India Infoline charges brokerage maximum of 0.05% on intraday trading and 0.25% on delivery based transactions.

ICICI Direct charges brokerage varies on volume of trade and inclusive of Demat transaction charges, service taxes and courier charges for contract notes. It ranges from 0.125%- 0.375% for intraday trading and 0.25%-0.75% for delivery based trades. Sharekhan charges minimum of 0.05% for intraday shares and 0.5% brokerage for delivery based trade.

43

Religare Sec LTD charges brokerage varies from 0.03% to 0.05% on intraday & Brokerage varies from 0.30% to 0.50% on delivery. In Religare there are other ways for brokerage charges based on accounts as in freedom account investor has to pay monthly Rs 500, Quarterly Rs 1400, Half yearly Rs 2500 and Yearly Rs 4000. HDFC Sec charges a 0.75% on delivery based and 0.35% on non-delivery based transaction. Service charges and other charges are separate.

Comment
According to the survey conducted ICICI Direct and HDFC Securities are charging maximum brokerage charges as compared to others. Where as Indiainfoline is charging minimum brokerage charges. Indiabulls is charging brokerage at nominal rate.

44

2.

ON THE BASIS OF ACCOUNT OPENING CHARGES

Indiabulls account opening charges are Rs 900. These are lifetime charges. There are no annual maintenance charges with free trading account. . India Infoline There is a nominal charge of Rs. 500 only towards stamp duty, legal and processing fees for opening the account. This includes the registration and account opening charges. Bank and Depository Participant (DP) account opening charges, if applicable,are payable separately. ICICI Direct This account comes to you absolutely Free. Only one time Stamp Duty charges of Rs.99/- are applicable at the time of account opening. An average minimum balance of Rs. 5000 is to be maintained during each quarter, failing which Rs. 750 will be levied / debited from the customer's bank account.

In case of an insufficient balance to debit Rs. 750, ICICI Bank will have right to close the

45

account of the customer. Annual service charges of Rs 500 is to be paid (Rs.450/- for customers receiving statement by e-mail). Sharekhan There is no ACCOUNT OPENING CHARGES but require margin money of Rs 5000 for trading purposes. Now you can open an Online Trading + Demat Account FREE. That's right, zero account opening charges. All you have to do is select a trading plan that suits your needs and just pay the AMC charges that are fully adjustable against brokerage. Not only do you save completely on account opening fees, you also save up to 50% on brokerage. Religare Religare offers three kinds of accounts as above. Below are detail about fees and activation charges for each account:

R-ACE Account activation charges Rs.299/-. Minimum margin of Rs.5000/- required.

R-ACE Lite Account activation charges Rs.499/-. Minimum margin of Rs.5000/- required.

R-ACE Pro Account activation charges Rs.999/-. Minimum margin of Rs.10,000/- required.

HDFC Securities The current account opening charges are Rs 799 only. This is inclusive of legal and documentation charges. This amount will be debited from the customers savings account in the absence of a cheque. In addition to opening a trading account with HDFC Securities Ltd, you will also be required to open a savings bank account and a DP (depository participant) account with HDFC Bank. If you are already availing of these two services from HDFC Bank, you need not open any other savings or demat accounts.

46

While completing the trading account opening form, you will asked to give details of your existing HDFC Bank savings and HDFC Bank demat account details (if available) to complete the necessary linkages between these accounts. Comment- from the survey we come to know that Indiabulls account opening charges is more than as compared to other companies but in Indiabulls the account is for lifetime and there is no annual maintainance charges which other companies are charging and there is no requirement of minimum margin as ICICI Direct and Sharekhan are charging annually.

47

3.

ON THE BASIS OF FACILITIES Indiabulls Yes Yes Yes Yes Yes Yes No Yes India Infoline Yes Yes Yes No Yes Yes No Yes ICICI Direct Yes Yes Yes No Yes yes No No Sharekhan Religare HDFC Yes No No No No No No Yes Yes Yes Yes No Yes No No yes Securities Yes Yes Yes No No Yes No No

Basis of Difference Share Trading Commodity Trading Loans Real Estate D-MAT opening rights Insurance services through subsidiary Merchant Banking Advisory Services

Comments: The major difference lies in the services provided by the brokerage firm. The product delivered is same but services provided by one firm distinguish it from other company. Here, Indiabulls is having the advantage because it is providing Financial Statements, Advisory Services, Margin Funding and Portfolio Management Services. But some of the brokerage firms are lacking behind in some of the services like HDFC is not providing any advisory services and margin funding. Competent Firms is not Margin Funding and Portfolio management services.

48

4. ON THE BASIS OF CUSTOMER PREFERENCE

Comments: According to the survey 45% people are satisfied with Indiabulls because of their Relationship Managers (RMs) facility and Power Indiabulls (PIB) software. The survey also showed that 25% people prefer India Infoline than other brokerage firms. It is because of its less brokerage and easy to use platform for trading. India bulls open new branches for individually handle to their customer. But in ICICI Direct, HDFC Securities etc. there is no separate offices for this. So more people prefer Indiabulls.

49

5. ON THE BASIS OF TRADING SOFTWARE

Indiabulls Indiabulls is providing a software to know the price changing in the scrips which cost Rs 750 which is better and easily understandable by the customers as compared to the software provided by other competitors companies. The Power Indiabulls Software is ideally suited for the active trader. This software gets installed on the client machine and is similar to a Dealer Terminal over the internet. The terminal has a lot of features that makes it extremely usable from the point of view of a trader who is active in the market. Some of the features are Integrated market watches for cash and derivatives Multiple tick by tick charting Advanced Technical Analysis Single key stroke order entry Multiple customizable market watches Easy to use risk management reports Secured Socket Layer connectivity with server Two second order confirmation turnaround time even during peak hours. India Infoline - 5Paisa offers 2 different online trading terminals to its customers: Investor Terminal (IT) Investor Terminal is 5Paisa's equity trading terminal for low volume trader. This is web based terminal and could access from anywhere. This product provides limited features in comparison of Trader Terminal, which is another product provided by 5Paisa.

50

Trader Terminal (TT) Trader Terminal is design for high volume equity traders or day traders. Trader Terminal provides high volume trading with powerful interface and fast order execution. Few popular features of trader terminal are:

Fast trade execution with instant trade confirmation. Live streaming quotes and price watch on any number of stocks. Intra day charts, updated live, tick-by-tick. Live margin, position, marked to market profit & loss report. Set any number oxf price alerts on any number of scrips. Flexibility to customize screen layout and setting. Facility to customize any number of portfolios & watch lists. Facility to cancel all pending orders at one click. Facility to square off all transactions at one click. Top Gainers, Top Losers, Most Active, updated live. Index information; index chart, index stock information live. Market depth, i.e. Best 5 bids and offers, updated live for all stocks. Online access to both accounts and DP to check live updated Order and Trade Book. Facility to place after market orders. Online fund transfer facility from leading Banks including ICICI, HDFC, CITI and UTI banks. Online intra-day technical calls. Historical charts and technical analysis tools. India Infoline's world - acclaimed news service and research. and many more.

51

ICICI Direct ICICI Direct offers 3 different online trading platforms to its customers: 1. Share Trading Account Share Trading Account by ICICI Direct is primarily for buying and selling of 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. 2. Wise Investment Account 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. Online Mutual funds investment allows investor to invest on-line in around 19 Mutual Fund companies. ICICI Direct offers various options while investing in Mutual Funds like Purchase Mutual Fund, Redemption and switch between different schemes, Systematic Investment plans, Systematic withdrawal plan and transferring 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 and stock trading. 3. Active Trader Account Active Trader account gives more personalized investment options to the investors. It allows investor to use online and offline stock trading. It also provides with independent market expertise and support through a dedicated Relationship Manager from ICICI. Active Trader also provides commodity trading.

52

FINDINGS & ANALYSIS

1) Do you know about investment options available ?

Knowledge YES NO Total

Percentage 80% 20% 100

COMMENT
Only 80% people knows the exact meaning of investment. Because of remaining 20% take his/her residential property as an investment. According to law purpose this is not an investment because of it is not create any profit for the owner.

53

2) Most preferable investment scenario. Investment Scenario Banks Derivatives & Securities market Insurance Bonds Real Estate Others Total Percentage 24% 28% 4% 20% 20% 4% 100

COMMENT
Today scenario is changed so that most area covered by the derivative and securities market. It is 28% of the total population.

54

3)

What is the basic purpose of your investment? Percentage 30% 25% 10% 20% 5% 10% 100

Investment Purpose Liquidity Returns Capital Appreciation Tax Benefit Risk Covering Others Total

COMMENT
75% people are interested in liquidity, returns and tax benefits. And remaining 25% are
55

interested in capital appreciations, risk covering, and others.

4) Most important things you take into your mind while making investments? Factor Risk Return Both Total Percentage 8% 17% 75% 100

COMMENT
75% people are considered the both factors risk as well as returns but, only 25% considered the risk or returns factor.

56

5) Awareness related to security markets Knowledge Complete Partial Nil Total Percentage 8% 75% 17% 100

57

COMMENT
On that basis, we conclude that 17% people know nothing about the securities investments and 75% people have partial knowledge about it, so, some promotional activities are required for increasing the awareness about security market.

6)

Do you have any de-mat & trading account? Percentage 60% 40% 100

Accounts Yes NO Total

58

COMMENT
Only 60% respondents have de-mat and trading account and remaining says no because they dont know why shares move up and down.

7) In which company you have d-mat and trading account? Company Indiabulls India infoline ICICI Direct Sharekhan Religare Securities Others Percentage 38% 20% 14% 12% 9% 7%
59

Total

100

PERCENTAGE

INDIABULLS INDIAINFOLINE

9% 7% 12% 14% 20%

ICICI DIRECT 38% SHAREKHAN RELIGARE SECURITIES OTHERS

COMMENT
In INDIABULLS SECURITIES Ltd 38% respondents have de-mat & trading account because of better services and no annual maintenance and other charges.

8) Specify the reason of satisfaction with the current broking house. Satisfaction Operating Expenses Services Brokerage Total Percentage 18% 25% 57% 100

60

COMMENT
This shows that 57% of the people are satisfied with there current brokerage house because they think amount of brokerage charged from them are reasonable.

9) What is your trading exchange preference. Exchange preference NSE BSE MCX MCDEX Total Percentage 50% 35% 8% 7% 100

61

NS E BS E MC X MC EX D

COMMENT
Most of the people prefere NSE & BSE. Very few people give preference to other two because they do not know about commodity market.

10) Do you know about INDIABULLS ? Knowledge Yes No Total Percentage 92% 6% 100

62

KNOWLEDGE

6% YES NO 94%

COMMENT
Almost every people know about INDIABULLS but still there are few who do not know about it. For this company should go for some promotional activities.

FINDINGS
According to the survey most of the customers of INDIABULLS says that it is pocket friendly. Coming to faith 70% say INDIABULLS SECURITIES Ltd is better than others stock brokers due to customers satisfaction.

63

 Lack of promotional activities undertaken by INDIABULLS in Kurukshetra Region. Main purposes of investments are returns & liquidity. Investors take risk as well as returns into their mind while making the investment. Businessmen are more interested in the stock market than the others. People want to invest their money in the security market but they havent the proper knowledge. People are not aware of hedging in stock market. People pay more emphasis on brokerage than service provided by brokerage houses. Commodity market is less preferred by investors.

SUGGESTIONS
Commitment should be equalized for every person. Provide the facility of free demonstrations for all.

64

 Improvement in the opening of De-mat & contract notice procedure is required. There should be a limited number of clients under the relationship manger. So that he can handle new as well as old customer properly. Some promotional activities are required for the awareness of the customer. People at young age should be encouraged to invest in stock market. Seminars should be held for providing information to prospective and present customers. There are few untapped regions where people want to invest but they dont know the procedure for investment in equity or commodity etc. market. Some advertisement should be done for this purpose.

LIMITATIONS
As only Kurukshetra dealt in survey so it does not represent the view of the total Indian market.

65

Size of the research may not be substantial. There was lack of time on the part of respondents. The survey was carried through questionnaire and the questions were based on perception. There may be biasness in information by market participant. Complete data was not available due to company privacy and secrecy.

CONCLUSION
On the basis of the study it is found that INDIABULLS SECURITIES Ltd is better services provider than the other stockbrokers because of their timely research
66

and personalized advice on what stocks to buy and sell. INDIABULLS Ltd. provide the facility of ON LINE Trade as well as relationship manager facility for encouragement and protect the interest of the investors. It also provides the information through the internet that what IPOs are coming in the market and it also provides its research on the future prospect of the IPO. Study also concludes that people are not much aware of commodity market and while its going to be biggest market in India. The company should also organize seminars and similar activities to enhance the knowledge of prospective and existing customers, so that they feel more comfortable while investing in the stock market. I

APPENDIX
DATE: (QUESTIONNAIRE)

67

NAME OCCUPATION AGE CONTACT NO.

1) Do you know about Investment options available? a) Yes b) No 2) Do you know about the different types of investment alternatives? a) Insurance & mutual funds b) Banks c) Real estate d) Share market e) Commodity f) Others 3) What is the basic purpose of your investment? a) Liquidity b) Returns c) Capital appreciation d) Risk covering e) Tax benefits 4) What are the most important things you take into account, while making any investment? a) Risk b) Returns c) Both 5) Do you have any knowledge of share markets? a) Partial b) Complete c) Nil 6) Do you have any D-mat & Trading account? a) Yes b) No

7) In which company you have D-mat & Trading account? a) Sharekhan Ltd b) Religare securities ltd. c) Indiainfoline d) ICICI direct e) Indiabulls f) HDFC securities g) Others

68

8) What is the reason? Please specify. a) Services _______________________________________ b) Brokerage _____________________________________ c) Operating expenses ______________________________ d) Others ________________________________________ 9) What is your trading exchange preference? a) NSE b) BSE c) MCX d) MCDEX 10) Do you know about Indiabulls Securities Ltd? a) Yes b) NO

BIBLOGRAPHY

69

WEBSITE REFERRED

www.indiabulls.com www.moneycontrol.com www.5paisa.com www.wikepedia.com www.google.com

BOOKS REFERRED
Security Analysis & Portfolio Management ( FISHERS & JORDEN )

70

71