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DECLARATION

I, Brajesh Vir, hereby declare that the project report on Summer Training is a result of my own work and my indebt ness to other work or publication, if any, have been duly acknowledged.

PLACE: Navi Mumbai DATE:

Brajesh Vir

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PREFACE
There is always a gap between theory & practice i.e. knowledge & its application. Someone has said that KNOWLEDGE IS POWER but looking into the present scenario, it does not stands good because simply acquiring the knowledge does not fulfil the need to become an efficient manager.

We are required to apply the knowledge acquired. Thus, the above saying can rightly be modified as APPLICATION OF KNOWLEDGE IS POWER. To bridge this gap, training is required. Training is the process of learning. It is the application of that knowledge.

Training is required to clear the theoretical concepts & ideas that we have read in the classroom. This is the opportunity to clear those bookish concepts & thereby assimilate managerial knowledge.

I once again want to thanks all those who helped me in this endeavour.

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ACKNOWLEDGEMENT

First of all I would like to thank the Almighty God for His blessing enabling me to stand in any facets of my life & my parents for their continuous support.

I am also grateful to our professor Mrs. Bhavika Thakkar who guided us throughout the training program & was on our side to help us when we encountered any difficulty.

I am also thankful to the following persons for their valuable guidance, cooperation & support in making this training successful: Mr. Bijay Dash and all staff member. I also express my sincere thanks to all those who has directly/indirectly helped me in this training & in the preparation of my project report.

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EXUCUTIVE SUMMARY
The title of the project done at India Infoline Ltd. is Investment Analysis and Portfolio Management for Client Base of India Infoline. The main objective of the project was to analyse the customers investment habit and provide them with required suggestions according to their risk appetite which is known by the risk profiling questionnaire with the help of the portal of India Infoline. This include the different types of investment options like Equity, Commodity, Currency, Future & Options and Insurance. We used to suggest them the investment pattern which suits to their risk appetite and which will help them to achieve their short term and long term goals. While this time period we found that people are less aware of these investment patterns and they failed to maintain the systematic investment which leads them to a big loss. People think that investment in Equity and Commodity should be done only when the market condition is good. They fail to diversify their portfolio which is also one of the reason of losses. We tried to provide financial education to different strata of public with the help of presentations, stalls etc. We found the fact that people are interested in getting the financial knowledge but afraid of the frauds happened in the industry.

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INDEX
Sr. No.
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16

Contents
Introduction Research Methodology Industry Overview Transaction Cycle India Infoline Profile The Management Terminal Services By India Infoline What is Insurance SWOT Analysis Major Player of The Industry Findings Limitation Recommendations Conclusion Bibliography

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6 7 11 20 27 31 35 40 48 51 53 56 58 59 60 61

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Introduction:Objective:Financial planning for new and existing client base of india infoline by analysing various investment option like Equity, Commodity and Insurance with respect to current market scenario to make balanced and effective portfolio.

Overview Investment analysis 1. The study of how an investment is likely to perform and how suitable it is for a given investor. Investment analysis is key to any sound portfolio-management strategy. Investors not comfortable doing their own investment analysis can seek professional advice from a financial advisor. 2. An analysis of past investment decisions. An investment analysis is a look back at previous investment decisions and the thought process of making the investment decision. Key factors should include entry price, expected time horizon, and reasons for making the decision at the time. 3. For example, in conducting an investment analysis of a mutual fund, the investor would look at factors such as how the fund has performed compared to its benchmark. The investor could also compare performed to similar funds, its expense ratio, management stability, sector weighting, style, and asset allocation. Investment goals should always be considered when analysing an investment; one size does not always fit all, and highest returns regardless of risk are not always the goal. 4. For any beginner investor, investment analysis is essential. Looking back at past decisions and analysing the mistakes and successes will help fine-tune strategies. Many investors don't even document why they made an investment let alone analyse
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why they were wrong or right. You could make a proper decision, extraordinary events could lose you money, and if you didn't analyse it, you would shy away from making the same decision. Portfolio management The art and science of making decisions about investment mix and policy, matching investments to objectives, asset allocation for individuals and institutions, and balancing risk against performance. Portfolio management is all about strengths, weaknesses, opportunities and threats in the choice of debt vs. equity, domestic vs. international, growth vs. safety, and many other trade-offs encountered in the attempt to maximize return at a given appetite for risk. In the case of mutual and exchange-traded funds (ETFs), there are two forms of portfolio management: passive and active. Passive management simply tracks a market index, commonly referred to as indexing or index investing. Active management involves a single manager, co-managers, or a team of managers who attempt to beat the market return by actively managing a fund's portfolio through investment decisions based on research and decisions on individual holdings. Closed-end funds are generally actively managed.

RESEARCH METHODOLOGY:Research Methodology refers to search of knowledge. One can also define research methodology as a scientific and systematic search for required information on a specific topic. The word research methodology comes from the word advance learners dictionary meaning of research as a careful investigation or inquiry especially through research for new facts in my branch of knowledge for example some author have define research methodology as systematic effort to gain new knowledge. Methodology of my project start with-

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In the first phase we were rained and taught on different things about market. After that we started facing the real life problems by facing customers. We went to different companies and firms for corporate tie-ups. They provide leads and we made calls to them. We used to provide the details of different products provided by IIFL to convince them for investment. We presented power point presentations to different government offices to make them aware of various investment products available in the market. We used to maintain the database of the leads. Got knowledge of technical and fundamental analysis.

For new client base:Target customer: Gov. Employees School staff Friends and Relatives Activities: Presentation in Gov. Offices and schools in order to aware employees and staff for various investment option on the basis of their risk appetite. These Presentations were followed by Questionnaire filling in order to know their interest regarding investment option. Put stall in various corporate office and society premises in order to give knowledge about various investment product of IIFL. Basically corporate visit were for corporate tie-ups in order to cover large and efficient client base. Tele-calling to new client base and generating report in order to make balanced and effective portfolio on the basis of their risk appetite For existing client base:Target Customer: HNIs Retail Investors
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Activities:Tele-calling to existing client base of India Infoline in order to solve their queries and give strength to their portfolio by make them aware about various investment option provided by IIFL. These investment option includes Equity trading, Gold trading, Gold SIP and Insurance (For Guaranteed return).

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Coverage:We had existing client base of All over Mumbai For new clients, we targeted Navi Mumbai, more specifically Vashi (Schools and corporate offices), Belapur (Gov. Offices), Nerul and Kharghar. Time Period:3 month- For Activities and Research 1 month- For data analysis 1 month- For data interpretation Limitations:1) We visited round 100 corporate offices but unable to get considerable output because either they already have Tie-ups with other financial firm or they are not interested in this financial year. 2) We gave presentation in about 10 schools, our main objective behind this activity was to target staff member but we didnt get response up to the mark because of inefficient client base. Deliverables:Data base that we collect from various sources we mentioned above are definitely very useful for IIFL. We generate approx. 500-600 new customer base that are interested in investment in various financial product in near future, this will definitely help IIFL in order to expand their client base. Questionnaire filled by the customer for investment option according to their interest will give more specific idea to IIFL for pitching them. Corporate and Govt. office contacts will help IIFL to get large client base at a time because customer comes under this category generally need tax planning and Retirement planning. We generate some leads by tele-calling as well, proper follow-up of that customer will also give business to IIFL.

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INDUSTRY OVERVIEW:Introduction:Stock exchanges to some extent play an important role as indicators, reflecting the performance of the countrys economic state of health. Stock market is a place where securities are bought and sold. It is exposed to a high degree of volatility; prices fluctuate within minutes and are determined by the demand and supply of stocks at a given time. Stock brokers are the ones who buy and sell securities on behalf of individuals and institutions for some commission.

The Securities and Exchange Board of India (SEBI) is the authorized body, which regulates the operations of stock exchanges, banks and other financial institutions. The past performances in the capital markets especially the securities scam by Harshad Mehta has led to tightening of the operations by SEBI. In addition the international trading and investment exposure has made it imperative to better operational efficiency. With the view to improve, discipline and bring greater transparency in this sector, constant efforts are being made and to a certain extent improvements have been made.

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History of the stock broking industry


Indian Stock Markets are one of the oldest in Asia. Its history dates back to nearly 200 years ago. The earliest records of security dealings in India are meager and obscure. By 1830's business on corporate stocks and shares in Bank and Cotton presses took place in Bombay. Though the trading list was broader in 1839, there were only half a dozen brokers recognized by banks and merchants during 1840 and 1850. The 1850's witnessed a rapid development of commercial enterprise and brokerage business attracted many men into the field and by 1860 the number of brokers increased into 60. In 1860-61 the American Civil War broke out and cotton supply from United States of Europe was stopped; thus, the 'Share Mania' in India begun. The number of brokers increased to about 200 to 250. However, at the end of the American Civil War, in 1865, a disastrous slump began (for example, Bank of Bombay Share which had touched Rs 2850 could only be sold at Rs.87). At the end of the American Civil War, the brokers who thrived out of Civil War in 1874, found a place in a street (now appropriately called as Dalal Street) where they would conveniently assemble and transact business. In 1887, they formally established in Bombay, the "Native Share and Stock Brokers' Association" (which is alternatively known as "The Stock Exchange"). In 1895, the Stock Exchange acquired a premise in the same street and it was inaugurated in 1899. Thus, the Stock Exchange at Bombay was consolidated. Thus in the same way, gradually with the passage of time number of exchanges were increased and at currently it reached to the figure of 24 stock exchanges.

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Development
An important early event in the development of the stock market in India was the formation of the Native Share and Stock Brokers Association at Bombay in 1875, the precursor of the present-day Bombay Stock Exchange. This was followed by the formation of associations /exchanges in Ahmedabad (1894), Calcutta (1908), and Madras (1937). IN addition, a large number of ephemeral exchanges emerged mainly in buoyant periods to recede into oblivion during depressing times subsequently. In order to check such aberrations and promote a more orderly development of the stock market, the central government introduced a legislation called the Securities Contracts (Regulation) Act, 1956. Under this legislation, it is mandatory on the part of stock exchanges to seek government recognition. As of January 2002 there were 23 stock exchanges recognized by the central Government. They are located at Ahmedabad, Bangalore, Baroda, Bhubaneshwar, Calcutta, Chenni,(the Madras stock Exchanges ), Cochin, Coimbatore, Delhi, Guwahati, Hyderbad, Indore, Jaipur, Kanpur, Ludhiana, Mangalore, Mumbai(the National Stock Exchange or NSE), Mumbai (The Stock Exchange), popularly called the Bombay Stock Exchange, Mumbai (OTC Exchange of India), Mumbai (The Inter-connected Stock Exchange of India), Patna, Pune, and Rajkot. Of course, the principle bourses are the National Stock Exchange and The Bombay Stock Exchange, accounting for the bulk of the business done on the Indian stock market. While the recognized stock exchanges have been accorded a privileged position, they are subject to governmental supervision and control. The rules of a recognized stock exchanges relating to the managerial powers of the governing body, admission, suspension, expulsion, and re-admission of its members, appointment of authorized representatives and clerks, so on and so forth have to be approved by the government. These rules can be amended, varied or rescinded only with the prior approval of the government. The Securities Contracts (Regulation) Act vests the government with the power to make enquiries into the affairs of a recognized stock exchange and its business, withdraw the recognition the task of regulating the stock exchange to the Securities Exchanges Board of India.

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BSE (THE STOCK EXCHANGE OF MUMBAI)


The Stock Exchange, Mumbai, popularly known as "BSE" was established in 1875 as "The Native Share and Stock Brokers Association". It is the oldest one in Asia, even older than the Tokyo Stock Exchange, which was established in 1878. It is a voluntary non-profit making Association of Persons (AOP) and is currently engaged in the process of converting itself into demutualised and corporate entity. It has evolved over the years into its present status as the premier Stock Exchange in the country. It is the first Stock Exchange in the Country to have obtained permanent recognition in 1956 from the Govt. of India under the Securities Contracts (Regulation) Act, 1956.

The Exchange, while providing an efficient and transparent market for trading in securities, debt and derivatives upholds the interests of the investors and ensures redressal of their grievances whether against the companies or its own member-brokers. It also strives to educate and enlighten the investors by conducting investor education program and making available to them necessary informative inputs.

A Governing Board having 20 directors is the apex body, which decides the policies and regulates the affairs of the Exchange. The Governing Board consists of 9 elected directors, who are from the broking community (one third of them retire ever year by rotation), three SEBI nominees, six public representatives and an Executive Director & Chief Executive Officer and a Chief Operating Officer.

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NSE (NATIONAL STOCK EXCHANGE)


NSE was incorporated in 1992 and was given recognition as a stock exchange in April 1993. It started operations in June 1994, with trading on the Wholesale Debt Market Segment. Subsequently it launched the Capital Market Segment in November 1994 as a trading platform for equities and the Futures and Options Segment in June 2000 for various derivative instruments.

NSE has been able to take the stock market to the doorsteps of the investors. The technology has been harnessed to deliver the services to the investors across the country at the cheapest possible cost. It provides a nationwide, screen-based, automated trading system, with a high degree of transparency and equal access to investors irrespective of geographical location. The high level of information dissemination through on-line system has helped in integrating retail investors on a nation-wide basis. The standards set by the exchange in terms of market practices, Products , technology and service standards have become industry benchmarks and are being replicated by other market participants. Within a very short span of time, NSE has been able to achieve all the objectives for which it was set up. It has been playing a leading role as a change agent in transforming the Indian Capital Markets to its present form. The Indian Capital Markets are a far cry from what they used to be a decade ago in terms of market practices, infrastructure, technology, risk management, clearing and settlement and investor service.

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Historical Index Chart


The chart shows the data related to NIFTY Ups and Downs from May 2003 to May 2013.

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NCDEX (National Commodities and Derivatives Exchange) NCDEX started working on 15th December, 2003. This exchange provides facilities to their trading and clearing member at different 130 centres for contract. In commodity market the main participants are speculators, hedgers and arbitrageurs. Promoters of NCDEX are: National Stock Exchange(NSE) ICICI bank Life Insurance Corporation(LIC) National Bank for Agricultural and Rural Development (NABARD) IFFICO Punjab National Bank (PNB) CRISIL Why NCDEX? NCDEX is nationalized screen based system which is providing transparent, private and easy services. NCDEX is one of the traditional media which gives online information NCDEX is one of the Indian commodity exchange, constructed on the basis of the current national institutes the exchange has been established with the coloration of leading institutes like NABARD, LIC, NSI etc. In India NCDEX has maximum settlement guarantee fund. NCDEX has appointed two exports for checking quality at the time of delivery

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Facilities provided by NCDEX NCDEX has developed facility for checking of commodity and also provides a ware house facility By collaborating with industrial partners, industrial companies, news agencies, banks and developers of kiosk network NCDEX is able to provide current rates and contracts rate. To prepare guidelines related to special products of securitization NCDEX works with bank. To avail farmers from risk of fluctuation in prices NCDEX provides special services for agricultural. NCDEX is working with tax officer to make clear different types of sales and service taxes. NCDEX is providing attractive products like weather derivatives

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MCX (Multi Commodity Exchange) MULTI COMMODITY EXCHANGE of India limited is a new order exchange with a mandate for setting up a nationwide, online multi-commodity marketplace, offering unlimited growth opportunities to commodities market participants. As a true neutral market, MCX has taken several initiatives for users In a new generation commodities futures market in the process, become the countrys premier exchange. MCX, an independent and a de-mutualized exchange since inception, is all set up to introduce a state of the art, online digital exchange for commodities futures trading in the country and has accordingly initiated several steps to translate this vision into reality.

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TRANSACTION CYCLE

Funds/Securities

Decision to Trade & Place Order

Transaction Cycle
Settlement of Trade Trade Execution

Clearing of Trade

A person holding assets (Securities/Funds), either to meet his liquidity needs or to reshuffle his holdings in response to changes in his perception about risk and return of the assets, decides to buy or sell the securities. He selects a broker and instructs him to place buy/sell order on an exchange. The order is converted to a trade as soon as it finds a matching sell/buy order. At the end of the trade cycle, the trades are netted to determine the obligations of the trading members securities/funds as per settlement cycle. Buyer/seller delivers funds/ securities and receives securities/funds and acquires ownership of the securities. A securities transaction cycle is presented above. Just because of this Transaction cycle, the whole business of Securities and Stock Broking has
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emerged. And as an extension of stock broking, the business of Online Stock broking/ Online Trading/ E-Broking has emerged. Traditional Broking Traditionally In stock Market, the investors invest their money in shares under the guidance of the Brokers of any stock broking company. This is convenient to those investors who are not familiar with the computer and the use of internet. But it requires more dealers to the share broking companies to give guidance related to investment. There was a chance of inaccuracy of price because it is a time consuming process. The cost of the company also increases due to more paperwork. The investor point of view, there was a problem of privacy. The information of investor may leak by the broker. So, to remove these limitations of traditional broking, there was an emergence of new concept e-Broking.

E- Broking - A small beginning: You have some money to dabble with. Trading shares on BSE/NSE has always been your dream. When will you ever find the time? And besides, the hassle of finding a broker is not easy. Realizing there is untapped market of investors who want to be able to execute their own trades when it suits them, brokers have taken their trading rooms to the Internet. Known as online brokers, they allow you to buy and sell shares via Internet. There are 2 types of online trading service: discount brokers and full service online broker. Discount online brokers allow you to trade via Internet at reduced rates. Some provide quality research; other doesnt. Full service online brokerage is linked to existing brokerages. These brokers allow their clients to place online orders with the option of talking/ chatting to brokers if advice is needed. Brokerage rates here are higher. 5Paisa.com, ICICIDirect.com, IndiaBulls.com, Sharekhan.com, Geojit securities.com, HDFCsec.com, Tatatdw.com, Kotakstreet.com are some of the online broking sites in India. With Net trading in securities and rapid consolidation between multiple stock exchanges, the international securities marketplace is fast becoming a "global village" through the creation of a universal virtual equity market. Compared to the Western countries, online trading is still in its infancy in India. With trading turnover at around Rs. 10 crores per day from online trading compared to a combined gross turnover of around Rs. 9000-10,000
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crores handled by the BSE and NSE together, online trading has a long way to go. Internet Trading In India: In the past, investors had no option but to contact their broker to get real time access to market data. The Net brings data to the investor on line and net broking enables him to trade on a click. Now information has become easily accessible to both retail as well as big investors. The development of broking in India can be categorized in 3 phases: 1. Stock brokers offering on their sites features such as live portfolio manager, live quotes, market research and news to attract more investors. 2. Brokers offering on line broking and relationship management by providing and offering analysis and information to investors during broking and nonbroking hours based on their profile and needs, that is, customized services. 3. Brokers (now e-brokers) will offer value management or services such as initial public offerings on line, asset allocation, portfolio management, financial planning, tax planning, insurance services and enable the investors to take better and well- considered decisions. In the US, 82 per cent of the deals are done on line. The European on line broking market is expected to be of $8 billion and is likely to raise fivefold by 2002. In India, presently Internet trading can take place through the order routing system, which will route client orders to exchanges trading systems for execution of trades on stock exchanges (NSE and BSE). This will also Require interface with banks to facilitate instant cash debit or credit and the depository system for debit or credit of securities. Objectives of Internet trading: Increase transparency in the markets. Enhance market quality through improved liquidity, by increasing quote continuity and market depth. Reduce settlement risks due to open trades, by elimination of mismatches. Provide management information system (MIS). Introduce flexibility in system, to handle growing volumes easily and to support nationwide expansion of market activity. Besides, through Internet trading three fundamental objectives of securities
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regulation can be easily achieved, these are: Investor protection, creation of a fair and efficient market and, reduction of the systematic risks. Procedure for Internet trading: Step-1: Those investors interested in doing the trading over internet system, that is, NEAT-ISX, should approach the brokers and register with the Stock Broker. Step-2: After registration, the broker will provide to them a login name, password and a personal identification number (PIN). Step-3: Actual placement of an order. An order can then be placed by using the place order window as under: i. First by entering the symbol and series of stock and other parameters such as quantity and price of the scrip on the place order window. ii. Second, fill in the symbol, series and the default quantity. Step-4: It is the process of review. Thus, the investor has to review the order placed by clicking the review option. He may also re-set to clear the values. Step-5: After the review has been satisfactory; the order has to be sent by clicking on the send option. Step-6: The investor will receive an ``Order Confirmation message along with the order number and the value of the order. Step-7: In case the order is rejected by the Broker or the Stock Exchange for certain reasons such as invalid price limit, an appropriate message will appear at the bottom of the screen. At present, a time lag of about ten seconds is there in executing the trade. Step-8: It is regarding charging payment, for which there are different modes. Some brokers will take some advance payment from the investors and will fix their trading limits. When the trade is executed, the broker will ask the investor for transfer of funds by the investor to his account.

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The above figure shows how the internet trading procedure.

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Factors to keep in mind while selecting online brokers: Brokerage cost: It is important to weigh up the subscription and trading costs charged by an online broker against benefits offered by the site. All online brokers display their charges on their sites. Some make sure you find the charges easily, while with others you will have to search a bit. Safety: Please make sure site has 128-bit encryption to ensure safety of transaction online. ICICIDirect.com, 5paisa.com are few sites with 128-bit encryption. You normally get a secured Login id and password. It is always advisable to frequently change trading password. Ideally online trading site should be fully integrated. The greater the backward integration, the better it is for the customer. Ideally broking account, Demat account and bank account should be linked electronically. Rate refresh: Rate refresh has to be real-time with no time lag. The speed and reliability comes with huge investment in technology. It is always advisable to check rates of online broking sites with BSE/ NSE terminal rates. Speed of execution: System has to be fast and reliable that does just one jobexecutes your trades. The last thing you need is a site that is heavily congested with the users who are downloading heavy jpeg graphs or pulling the latest story why market is moving. The site should be one click wonder where squaring off all your positions or cancelling all your pending orders takes one click and a confirmation of action. Trading limit: For trading, all sites provide 4 times buy and sell limit against margin money put in by customer. For delivery of shares, buying limit is equal to margin money put in by customer. Couple of sites also provides margin funding for buying of shares. Free trial period: Site should allow users free trial period to familiarize yourself with system before you decide to become trading member of the site Intraday chart/ historical chart: The site should provide intraday chart tick by tick time and price data / historical chart for technical analysis by investors of particular scrip. Lots of people trade based on charting packages.

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Success Factors for e-broking:


There are three key success factors for e-broking, (i) Scalability and robustness of the trading system: The fundamental difference between the Internet as a transaction medium and the conventional closed user group network is that the Net is a universal platform providing concurrent access to infinite users at any given point in time. Consequently, it becomes imperative for any Net-based application to have a proven capability for scalability and robustness which ensures the ability to handle and process requests from multiple users at any given point in time. (ii) Bandwidth optimization: In the Indian context where availability of a sufficient bandwidth is limited, the application software should demonstrate intelligence in optimizing the available bandwidth by deploying advanced technologies such as streaming. (iii) Integration with third party systems: On the Net, with information feeds available from multiple points, it is prudent to deploy applications that are built on open architecture methodology for interfacing with third party systems in the new Net age. Challenges in Internet Trading: For Internet trading to succeed it is imperative to have both, a robust business model as well as a comprehensive technology strategy. Some of the challenges are discussed: Transaction fulfilment--In the Net-based economy, it is both prudent and essential for a broker/intermediary to offer total solution to the clients at a single point. Total solutions would essentially mean offering interfaces with banks, depositories, information feeds, etc. for efficiency in trade completion and reducing duplication of client information. The service providers will have to go beyond the stage of mere order execution and emerge as "informediaries" rather than "intermediaries". This will not only ensure lower trading costs in terms of offering cross services but will also help in maximizing ROIs.

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INDIA INFOLINE PROFILE:-

REGISTERED OFFICE India Infoline Ltd. 75, Nirllon Complex, Off western Express Highway, Goregaon (E), Mumbai-400063 Tel: (022) 66489000 Fax: (022) 26850451 Emil: mail@indiainfoline.com

SEBI REGN NO BSE (Cash & F & o) INB011097533 NSE (Cash & F&O) INB231097537 F&O INF231097537 PMS INP000000944

COMMODITIES MCX Regn No NCDEX Regn No

10470 00378

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About India Infoline Ltd.


We are a one-stop financial services shop, most respected for quality of its advice, personalized service and cutting-edge technology.

Vision Our vision is to be the most respected company in the financial services space.

Introduction India Infoline Ltd is listed on both the leading stock exchanges in India, viz. the Stock Exchange, Mumbai (BSE) and the National Stock Exchange (NSE). The India Infoline group, comprising the holding company, India Infoline Ltd and its subsidiaries, straddles the entire financial services space with offerings ranging from Equity research, Equities and derivatives trading, Commodities trading, Portfolio Management Services, Mutual Funds, Life Insurance, Fixed deposits, GoI bonds and other small savings instruments to loan products and Investment banking. India Infoline also owns and manages the websites, www.indiainfoline.com and www.5paisa.com. India Infoline Ltd, being a listed entity, is regulated by SEBI (Securities and Exchange Board of India). It undertakes equities research which is acknowledged by none other than Forbes as 'Best of the Web' and 'a must read for investors in Asia'. India Infolines research is available not just over the internet but also on international wire services like Bloomberg (Code: IILL), Thomson First Call and Internet Securities where it is amongst the most read Indian brokers. Its various subsidiaries are in different lines of business and hence are governed by different regulators. The subsidiaries of India Infoline Ltd are:

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India Infoline Securities Pvt. Ltd India Infoline Securities Pvt. Ltd is a 100% subsidiary of India Infoline Ltd, which is engaged in the businesses of Equities broking and Portfolio Management Services. It holds memberships of both the leading stock exchanges of India viz. the Stock Exchange, Mumbai (BSE) and the National Stock Exchange (NSE). It offers broking services in the Cash and Derivatives segments of the NSE as well as the Cash segment of the BSE. A SEBI authorized Portfolio Manager; it offers Portfolio Management Services to clients. These services are offered to clients as different schemes, which are based on differing investment strategies made to reflect the varied risk-return preferences of clients. India Infoline Commodities Pvt Ltd India Infoline Commodities Pvt Ltd is a 100% subsidiary of India Infoline Ltd, which is engaged in the business of commodities broking. Our experience in securities broking empowered us with the requisite skills and technologies to allow us offer commodities broking as a contra-cyclical alternative to equities broking. We enjoy memberships with the MCX and NCDEX, two leading Indian commodities exchanges, and recently acquired membership of DGCX. We have a multi-channel delivery model, making it among the select few to online as well as offline trading facilities. India Infoline Distribution Co Ltd (IILD) India Infoline.com Distribution Co Ltd is a 100% subsidiary of India Infoline Ltd and is engaged in the business of distribution of Mutual Funds, IPOs, Fixed Deposits and other small savings products. It is one of the largest 'vendor-independent' distribution houses and has a wide pan-India footprint of over 232 branches coupled with a huge number of 'feet-on-street', which helps source and service customers across the length and breadth of India. Its unique value proposition of free doorstep expert advice coupled with free pick-up and delivery of cheque has been met with an enthusiastic response from customers and fund houses alike. Our business has expanded to include the online distribution of mutual funds, wherein users can view and compare different product offerings and download application forms which they can later submit
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to the product provider. Mortgages & Loans IILD has also entered the business to distribution of mortgages and loan products during the year 2005-2006. The business is still in the investing phase and we plan to roll the business out across its pan-Indian network to provide it with a truly national scale in operations. India Infoline Insurance Services Ltd India Infoline Insurance Services Ltd is also a 100% subsidiary of India Infoline Ltd and is a registered Corporate Agent with the Insurance Regulatory and Development Authority (IRDA). It is the largest Corporate Agent for ICICI Prudential Life Insurance Co Ltd, which is India's largest private Life Insurance Company. India Infoline Investment Services Ltd India Infoline Investment Service Ltd is also a 100% subsidiary of India Infoline Ltd. It has an NBFC licence from the Reserve Bank of India (RBI) and offers margin-funding facility to the broking customers. India Infoline Insurance Brokers Ltd India Infoline Insurance Brokers Ltd is a 100% subsidiary of India Infoline Ltd and is a newly formed subsidiary which will carry out the business of Insurance broking. We have applied to IRDA for the insurance broking licence and the clearance for the same is awaited.

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THE MANAGEMENT:Mr. Nirmal Jain Nirmal Jain is the founder and Chairman of India Infoline Ltd. He holds an MBA degree from IIM Ahmedabad, and is a Chartered Accountant (All India Rank 2) and a Cost Accountant. He has had an impeccable professional and academic track record. He started his career in 1989 with Hindustan Lever Limited. During his stint with Hindustan Lever, he handled a variety of responsibilities, including exports and trading in agro- commodities with Rs3bn annual turnover. He then joined hands with two local brokers to set up their equity research division, Inquire, in 1994. His work set new standards for equity research in India. In 1995, he founded his own independent financial research company, now known as India Infoline Ltd. Mr. R Venkataraman R Venkataraman is the co-promoter and Executive Director of India Infoline Ltd. He holds a B. Tech degree in Electronics and Electrical Communications Engineering from IIT Kharagpur and an MBA degree from IIM Bangalore. He has held senior managerial positions in various divisions of ICICI Limited, including ICICI Securities Limited, their investment banking joint venture with J P Morgan of USA and with BZW and Taib Capital Corporation Limited. He has also held the position of Assistant Vice President with G E Capital Services India Limited in their private equity division. He has varied experience of more than 14 years in the financial services sector. The Board of Directors Apart from Nirmal Jain and R Venkataraman, the Board of Directors of India Infoline comprises: Mr Sat Pal Khattar (Non-Executive Director) Mr Sat Pal Khattar joined the Board with effect from April 20, 2001. Mr Sat Pal Khattar is a lawyer by profession He was the founding partner of a firm of solicitors in Singapore named KhattarWong and at present is a Consultant in the said firm. He is also a director of a number of public companies in Singapore and India. He is the Chairman of 'Network India', a body
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sponsored by the Government of Singapore, which promotes two-way business contacts between Singapore and Indian business interests. Mr Sanjiv Ahuja (Independent Director) Mr Sanjiv Ahuja joined the Board with effect from August 28, 2002. Mr Ahuja graduated from National University of Singapore with a degree in Computer Science and is also a Certified Public Accountant. He started his career in 1988 with Accenture (formerly Andersen Consulting) and has worked on several large projects particularly in the electronics and utilities industries. He joined the Thakral Group of Companies in 1991 as the Chief Executive of their electronics packaging and Warehousing company in Singapore and has also headed the group's Indian Investments division. He started his own investment advisory and consulting company in 2001, named Centennial Management Consultants Private Limited, focusing on investment mediation and investment management and advice. At present, he is also an Executive Director with Corporate Brokers International Private Limited, a reputed Singapore based mergers and acquisitions firm focusing on the SME space and also a board member of the Singapore Indian Chamber of Commerce and Industry, a post he has held since 2002. He is very familiar with the South Asian and South East Asian Markets and has direct investment experience in a variety of industries including real estate development, distribution and information technology. Mr Ahuja has an experience of more than 17 years. Mr Nilesh Vikamsey (Independent Director) Mr Nilesh Shivji Vikamsey joined the Board with effect from February 11, 2005. Mr Vikamsey qualified as a Chartered Accountant in 1985 and has been a member of the Institute of Chartered Accountants of India since 1985. He has a Diploma in Information System Audit ("DISA") from the Institute ofChartered Accountants of India in 2003. In 1985, Mr Vikamsey was inducted as partner in M/s Khimji Kunverji & Co., Chartered Accountants and was in charge of the audit department till 1990 and thereafter also handles assignments related to financial services, consultancy, investigations, mergers and acquisitions, valuations etc. Mr Vikamsey is a director of Alpha Garments Private Limited, English Apparels Private Limited, HLB Technologies (Mumbai) Private Limited, Miloni Consultants Private Limited & Chairman of HLB India. Mr Vikamsey is a member of the Accounting Standards Board and erstwhile Member of the Vision & Restructuring Commitee of Institute of
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Chartered Accountants of India and member of Expert Committees of Law and Company Affairs, Infotainment & Media and Economic & Business Reforms formed by the Indian Merchants' Chamber. Mr Kranti Sinha (Independent Director) Mr Kranti Sinha joined the Board with effect from January 27, 2005. Mr Sinha graduated from the Agra University with a Masters degree. He started his career in 1965 as a direct recruit Class I officer with Life Insurance Corporation of India and has worked in various capacities and at different locations throughout the country. He worked at various managerial levels and rose through the hierarchy to serve as the Director and Chief Executive of LIC Housing Finance Limited from August 1998 to December 2002 and concurrently as the Managing Director of LICHFL Care Homes (a wholly owned subsidiary of LIC Housing Finance Limited). He retired from the permanent cadre of the Executive Director of LIC. He has also served as the Deputy President of the Governing Council of Insurance Institute of India and as a member of the Governing Council of National Insurance Academy, Pune apart from various other such bodies. He is currently the Managing Director of the Global Institute for Financial and Education Services (India) Private Limited (a wholly owned subsidiary of The Global Institute, LLC, USA). Mr Sinha is also on the Board of Directors of Hindustan Motors.

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Changing trend
Remember the time when you left orders with your broker in the morning and received a confirmation fax late in the evening? You wondered whether you had acquired the shares at the best possible price for the day. Today, the picture is different. Imagine a scenario where you log on to your account, get the live quotes of scripts you are interested in, get advice from experts and research reports on your investment choice and then just click the mouse to place your order, pay the amount due (which automatically gets debited into your account with the on line brokerage firm), get your account statement, and the delivery of your shares into your Demat account. All this through just one click of a mouse. Seems like a dream? But with online trading this has become a reality. A few seconds later, you get the confirmation on your screen. And after the trade settlement, your bank and DP accounts will reflect the changes accordingly. The speed of transaction, confidentiality about the prices and ease of settlement in the paperless mode should be good reasons for retail investors to jump on to the Net. All they need is a PC, a modem, a subscription to an ISP, an account with a bank (which has a web presence) and a depository account. And they can choose from a plethora of e- trading web sites. So, finally the changing trend is known as E-trading which really means Buying and selling securities via the Internet or other electronic means such as wireless access, touch- tone telephones, and other new technologies with online trading. In most cases customers access a brokerage firm's Web Site through their regular Internet Service Provider. Once there, customers may consult information provided on the Web Site and log into their accounts to place orders and monitor account activity"

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Investor Terminal
Target customer segment Investor Terminal (IT) is targeted at Investors who invest quite often, churn their portfolios regularly and keep a close watch on the market. They need to watch live quotes and live charts. Active stock market traders with medium volumes Students and researchers who need live streaming quotes and intraday charts Corporate treasury people How to open an account You can download the form in pdf format by clicking here. Alternatively just mail us at info@5pmail.com with your contact telephone numbers or address. Our representative will get in touch with you soon. Account opening formalities are simple. Documents required are 2 latest passport size photos, proof of identity and address i.e. say electricity/ telephone bill, passport photocopies. Potentially large customers should also give PAN number and photocopy of latest Income Tax return.

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Trader Terminal
Target customer segment Trader Terminal is almost a substitute for NSE NEAT terminal and VSAT. In fact, it has many more powerful features that only a premium trader can appreciate. Target customer segments are It is for dedicated day traders, who churn their portfolio on minor movements in the market, sometimes several times a day. Their rapid and high volume trading requires a powerful interface for lightning fast order execution. High Net worth Individuals with large and active equities portfolio who need to monitor and action swiftly. Large corporate or trusts who have dedicated staff to monitor, analyse and shuffle their portfolios Trader Terminal features Trade execution in a fraction of a second! Live streaming quotes. Price watch on any number of scripts. Intraday charts, updated live, tick-by-tick. Live margin, position, marked to market profit & loss report. The Lowest Brokerage on the face of the earth! Set any number of 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 scripts. Instant trade confirmation. Online access to both accounts and DP. Live updated Order and Trade Book. Details of pending, executed and rejected orders. Online access to Customer Service. 128 - Bit super safe encryption.

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Facility to place orders on the phone in all major cities. Online fund transfer facility from leading Banks Online intra-day technical calls. Exhaustive database of over 5000 companies Historical charts and technical analysis tools. India Infoline's world - acclaimed news service and research. Lots more Last but not the least, ideas that help you make money!

Quality User Friendly, attractive & colourful Website. Design The website of India Infoline namely www.Indaiainfoline.com has been specially designed to facilitate its users to buy and sell shares in an instant at any time and from anywhere they like. The site is user friendly allowing even a layman to easily operate without any hassles Brand Name The company as a whole in its offline business has named itself as 5Paisa.com. Services India Infoline offers its customers, depository services and trade execution facilities for equities, derivatives and commodities backed with investment advice tempered by decades of broking experience. The teams of its dedicated analysts are constantly at work to track performance and trends. Trading on phone is also an exclusive service available to all India Infoline customers for trading in shares via the telephone. A customer can buy and sell shares with the help of telephone.

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Brokerage charges under India Infoline


Particulars Brokerage Intraday Delivery: Normal Settlement Delivery: Trade to Trade Future Options Minimum per Share Intraday Delivery Depository Services Annual Maintenance Credit Transaction Debit Transaction Pledge Creation (per instruction) Pledge Closure Demat Remate Rejection/Failure per entry Regulatory Charges Trading Cash (NSE & BSE) Delivery (NSE & BSE) F&O Service Tax 0.006 on turn over 0.014 on turn over 0.008% on turn over 12.24% on brokerage Life Time Schemes .10 .50 .75 .10 Renewable Schemes .05 .25 .75 .05

5 Paisa 5 Paisa NIL NIL 0.05% Min Rs 15 Max100 Rs 50

1 Paisa 5 Paisa

NIL Per Certificate Rs 15 Rejection/Failure per entry Rs 15

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Securities Transaction Tax

For delivery transaction (Charged to buyer & Seller) For trading transaction in cash For trading transaction in F & O

0.125% 0.025% 0.0

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SERVICES PROVIDED BY INDIA INFOLINE:-

India Infoline Services

Online

Offline

Other Services

TT Advance

TT 5

OFFLINE

The Off-Line account is trading account through which one can buy and sell through his/her telephone or by personal visit at India Infoline shop. This a/c is for those who are not comfortable with computer and want to trade. Offline A/c is the A/c for the investors who are not familiar with the use of computer. The A/C opening charges Rs.555 (One time) Lifetime membership. No AMC. ONLINE A/C Opening Charges Rs.555 (onetime Charge). Life time membership. No AMC ( ANNUL MAINTENANCE CHARGE) Type with 4 banks through which one can transfer or withdraw his fund online. Which are as follows 1. HDFC Bank 2. UTI Bank 3. CITY Bank 4. ICICI Bank Anyone who have A/C either of above banks they can use this facility. If you havent A/C in the above of the Bank Company opens your a/c in either of this bank at the time of Demat opening.
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This account enables you to buy and sell shares through our website. You get features like a) b) c) d) e) Streaming quotes (using the applet based system) Multiple watch lists Integrated Banking, Demat and digital contracts Instant credit and transfer Real-time portfolio tracking with price alert and, of course, the assurance of secure transactions.

How to use:
By entering the Login ID and Browsing Password you can login into your A/C. Features of Account:That enables you to invest effortlessly Online trading account for investing in Equities and Derivatives via India Infoline.com Integration of: Online trading + Bank + Demat account Instant cash transfer facility against purchase & sale of shares Make IPO booking You get Instant order and trade confirmations by e-mail Streaming Quotes Single screen interface for cash and derivatives

That enables you to trade effortlessly Instant order Execution & Confirmation Single screen trading terminal Real-time streaming quotes, tic-by-tic charts Market summary (most traded scrip, highest value and lots of other relevant statistics) Hot keys similar to a brokers terminal Alerts and reminders Back-up facility to place trades on Direct Phone lines Single screen interface for cash and derivatives
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System Requirements: You will need access to a computer which has at least the following configuration: Pentium 3 PC, Minimum 128 MB RAM Windows 2000 or Higher Internet Connection Internet Explorer 6.0 Java enabled in IE

Online Fund Transfer

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Stock Ideas Stock Ideas is aimed at India Infoline trading clients. It presents our best stock picks in today's market. India Infoline is having research firm at Mumbai, it gives trading tips at everyday 9:30 am in morning. Dial and Trade Trade in Equity by using your phone! India Infoline offers its clients RM facility. You can get trading tips by calling India Infoline RM. Also you can place your order with your cell phone or landline phone.

Online IPO Online IPO (Initial Public Offering) is a new service started by India Infoline for providing the application form of any companys issues of shares just like the TCS issue can be subscribed by filling an online form to reduce the paper work and the fund transfer facility is also provided to the clients for transferring the funds online. It is given on its web-site for helping the clients who are not able to collect the forms manually and the speed of filling and reducing the risk of misplacing of forms, not reaching in time, etc.

Research Based Services Every investors needs and goals are different. To meet these needs, India Infoline provides a comprehensive set of research reports, so that one can take the right investment decisions regardless of their investing preferences! The Research and Development at India Infoline is done at its Head office Mumbai. The R&D department forwards all the details regarding all stocks and scripts to all the branches through Internet. The quarries regarding stock positions and other relevant matter of the branch heads of each branch is being solved through teleconference.
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Institutional Research - Each individual company is analysed and its results are placed on our site. Here Rating is given on relative basis, in the form of underperformer, neutral and out performer.

Out performer: This stock will outperform the market by giving a relatively higher return than a market-based index.

Neutral: This stock is expected to more or less give you the index rate of return or a return not significantly higher or lower than the market index.

Underperformer: This stock is expected to lose value on a relative basis when compared to a market-based index.

Sector Watch Here each sector is analysed thoroughly. For Ex. Pharma sector, automotive sector, and various other sectors.

India Infoline Depository Services Dematerialization and trading in the Demat mode is the safer and faster alternative to the physical existence of securities. Demat as a parallel solution offers freedom from delays, thefts, forgeries, settlement risks and paper work. This system works through depository participants (DPs) who offer Demat services and the securities are held in the electronic form for the investor directly by the Depository. India Infoline Depository Services offers dematerialization services to individual and corporate investors. India Infoline is a registered Depository Participant (DP) with National Securities Depository Ltd. (NSDL). It has a team of professionals and the latest technological expertise dedicated exclusively to our Demat department, apart from a national network of franchisee, making our services quick, convenient and efficient. At India Infoline, the commitment is to provide a complete Demat solution which is simple, safe and secure.
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Benefits of Trading with India Infoline India Infoline offers the facility to trade at two major commodity exchanges of the country: 1. Multi Commodity Exchange of India Ltd, Mumbai (MCX) and 2. National Commodity and Derivative Exchange, Mumbai (NCDEX). India Infoline also equips you with world-class research, based on technical and fundamental study of all major commodities. Whats more India Infoline is in the process of launching several trading products and strategies to help you trade in the commodity futures segment. India Infoline is a registered Stock Broker with the Bombay Stock Exchange and National Stock Exchange to trade on behalf of clients. The screen-based trading is done on BOLT- BSE Online Trading and NEATNational Exchange Automated Trading, terminals. There are two types of transactions executed on these terminals viz. intra-day and delivery based transactions. Intraday transactions are those, in which the squaring up of deal is done on the same day, while in delivery based transaction the squaring up is not done on the same day, but the stock is to be traded on the basis of rolling settlement i.e. T+2. The Brokerage of Intraday transaction is 0.10% single side, while brokerage on delivery based transactions is 0.50% on both side, i.e. while purchasing as well as selling.

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SMS Services

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What is Insurance?
Insurance is a form of risk management in which the insured transfers the cost of potential loss to another entity in exchange for monetary compensation known as the premium. Insurance allows individuals, businesses and other entities to protect themselves against significant potential losses and financial hardship at a reasonably affordable rate. We say "significant" because if the potential loss is small, then it doesn't make sense to pay a premium to protect against the loss. After all, you would not pay a monthly premium to protect against a $50 loss because this would not be considered a financial hardship for most. Insurance is appropriate when you want to protect against a significant monetary loss. Take life insurance as an example. If you are the primary breadwinner in your home, the loss of income that your family would experience as a result of our premature death is considered a significant loss and hardship that you should protect them against. It would be very difficult for your family to replace your income, so the monthly premiums ensure that if you die, your income will be replaced by the insured amount. The same principle applies to many other forms of insurance. If the potential loss will have a detrimental effect on the person or entity, insurance makes sense.

IIFL in Insurance.
India infoline has corporate tie-up with ICICI Prudential ltd. As we known ICICI Pru. is a well-known name of Indian insurance industry and tie-up with IIFL give new gloom to its name. ICICI Pru. expands its client base through India infoline. As a result of this tie up, large client base of IIFL can get the benefit of long term guaranteed return product and tax planning. ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank, a premier financial powerhouse, and Prudentials place a leading international financial services group headquartered in the United Kingdom. ICICI Prudential was amongst the first private sector insurance companies to begin operations in December 2000 after receiving approval from Insurance Regulatory Development Authority (IRDA).

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ICICI Prudential Life's capital stands at Rs. 4,793 crores (as of March 31, 2013) with ICICI Bank and Prudential plc holding 74% and 26% stake respectively. For the financial year 2013, the company has garnered total premium of Rs 13,538 crores and has underwritten over 13 million policies since inception. The company has assets held over Rs. 74,000 crores as on March 31, 2013. For the past decade, ICICI Prudential Life Insurance has maintained its dominant position (on new business retail weighted basis) amongst private life insurers in the country, with a wide range of flexible products that meet the needs of the Indian customer at every step in life.

Insurance product of ICICI Pru:Term plans Wealth plans Child plans Health plans Retirement plans
Shubh Retirement

I care Pure protect Life guard

GSIP I-Assure Cash back

Smart Kid

Health Saver Hospital care

Indian Insurance Market


The insurance industry of India consists of 51 insurance companies of which 24 are in life insurance business and 27 are non-life insurers. Among the life insurers, Life Insurance Corporation (LIC) is the sole public sector company. Apart from that, among the non-life insurers there are six public sector insurers. In addition to these, there is sole national re-insurer, namely, General Insurance Corporation of India. Other stakeholders in Indian Insurance market include Agents (Individual and Corporate), Brokers, Surveyors and Third Party Administrators servicing Health Insurance claims. The introduction of the draft Open Architecture guidelines has also set the tone for a new trend in distribution. Open Architecture could enable an insurance company to offer its products at any branch of any bank across the country, through multiple tie-ups. This dramatically enlarges the range of options available to potential buyers of insurance products by increasing insurance penetration into geographies left untapped so far. If a particular life insurer has not launched business in all the branches of a bank, another insurer
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can launch insurance business in those branches. The potential of Banc assurance is estimated at 80,000 bank branches but barely 10% of bank account holders buy life insurance from this channel. Open Architecture makes this is a huge scalable opportunity for the insurance business.

Company Name
LIC ICICI Prudentials Bajaj alliance Birla sun life SBI Life insurance Others

Market Share (In %)


61 8 7 6 5 13

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SWOT ANALYSIS:During this training at India Infoline, I had come to know the Strengths Weaknesses Opportunities Threats for the company and it is very useful for a company to analyse them. Therefore, the SWOT analysis is presented here and the suggestions for maintaining strengths and removing weaknesses are explained.

STRENGTHS: Well-maintained infrastructure. -line trading products. Lowest brokerage and other charges w.r.t. Competitors. The best investment advice correct up to 70-90 % through dedicated Research and reports. Wide product range to enable the clients to choose the best alternative. One of the best DPs in India. A positive image in the existing clients.

WEAKNESSES: Less awareness in the market. Time consuming process for account opening, resolving the problems of the customers, etc. Service quality is not maintained accordingly how they are promoted.

OPPORTUNITIES: Slope of stock market towards delivery based transaction. Large potential market for delivery and intra-day transactions. Open interest of the people to enter in stock market for investing. Attract the customers who are dissatisfied with other broker & DPs. An indirect opportunity generated by the market from its bullishness. Large untapped market in the Ahmedabad city.

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THREATS: Decreasing rates of brokerage in the market. Increasing competition against other brokers & DPs Poor marketing activities for making the company known among the customers. A threat of losing clients for any kind of weakness of the company. Losing the untapped market with the entry of the competitors.

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MAJOR PLAYERS IN THE SECTOR: INDIABULLS:

Indiabulls is India's leading retail financial services company with 77 locations spread across 64 cities. Its size and strong balance sheet allows providing varied products and services at very attractive prices, our over 750 Client Relationship Managers are dedicated to serving your unique needs. Indiabulls is led by a highly regarded management team that has invested crores of rupees into a world class Infrastructure that provides real-time service & 24/7 access to all information and products. The Indiabulls Professional Network offers real- time prices, detailed data and news, intelligent analytics, and electronic tradingcapabilities, right at your finger-tips. This powerful technology is complemented by our knowledgeable and customer focused Relationship Managers. Indiabulls offers a full range of financial services and products ranging from Equities, Derivatives, Demat services and Insurance to enhance wealth and to achieve the financial goals.

MOTILAL OSWAL SECURITIES LTD.: One of the top-3 stock-broking houses in India, with a dominant position in both institutional and retail broking, MOSt is amongst the best-capitalized firms in the broking industry in terms of net worth. MOSt was founded in 1987 as a small sub- broking unit, with just two people running the show. Focus on customer-first- attitude, ethical and transparent business practices, respect for professionalism, research-based value investing and implementation of cutting-edge technology have enabled it to blossom into a thousand-member team. The institutional business unit has relationships with several leading foreign institutional investors (FIIs) in the US, UK, Hong Kong and Singapore. In a recent media report MOSt was rated as one of the top10 brokers in terms of business transacted for FIIs.
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The retail business unit provides equity investment solutions to more than 50,000 investors through 270 outlets spanning 150 cities and 22 states. MOSt provides Advice-Based Broking, Portfolio Management Services (PMS), E-Broking Services, Depository Services, Commodities Trading, and IPO and Mutual Fund Investment Advisory Services. Its Value PMS Scheme gave a 160% post-tax return for the year ended March 2004. In AsiaMoney Brokers Poll 2003 MOSt has been rated as the Best Domestic Research House- Mega Funds ,while in 2000 and 2002 it has been rated as the Best Domestic Equity Research House and Second best amongst Indian Brokerage firms respectively.

SHAREKHAN: Sharekhan is Indias leading online retail broking house. Launched on February 8, 2000 as an online trading portal, Sharekhan has today a pan-India presence with over 1,529 outlets serving 950,000 customers across 450 cities. It also has international presence through its branches in the UAE and Oman. Sharekhan offers services like portfolio management, trade execution in equities, futures & options, commodities, and distribution of mutual funds, insurance and structured products. These services are backed by quality investment advice from an experienced research team which offers investment and trading ideas based on fundamental and technical research respectively, market related news, statistical information on equities, commodities, mutual funds, IPOs and much more. Sharekhan is a member of the Bombay Stock Exchange, the National Stock Exchange and the countrys two leading commodity exchanges, the NCDEX and MCX. Sharekhan is also registered as a depository participant with National Securities Depository and Central Depository Services. Sharekhan has set category leadership through pioneering initiatives like Trade Tiger, an Internet-based executable application that emulates a broker terminal besides providing information and tools relevant to day traders. Its second initiative, First Step, is targeted at empowering the first-time investors. Sharekhan has also set its global footprint through the India First initiative, a series of seminars conducted by Sharekhan to help the non-resident Indians participate and benefit from the huge investment opportunities in India.
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EDELWIESS: Edelweiss is one of Indias leading diversified financial services Group. Edelweiss offers a large range of products and services spanning across asset classes and consumer segments. Its businesses are broadly divided into Credit including Retail Finance and Debt Capital Markets, Financial Markets including Asset Management, Commodities and Life Insurance. The groups research driven approach and proven history of innovation has enabled it to foster strong relationships across corporate, institutional and individual clients. The Life Insurance, Retail Finance including Housing Finance, Mutual Fund and Retail Broking businesses both online and offline formats, have paved the way for Edelweiss to cater to the large retail client segment. Edelweiss presence now covers 211 offices in 106 cities in India and abroad with 3,907 employees. Together with 4,003 strong network of Sub-Brokers and Authorized Persons, Edelweiss group has presence across nearly 545 cities in India catering to over 450,000 clients across various businesses in retail and wholesale segments.

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Comparative analysis of different players:Comp Name Cities Branches Client Base(In '000) NW(In Cr) India Infoline 500 3000 500 1800 Motilal Oswal 527 1484 773 1400 Sharekhan 510 1950 1000 1550 Edelwiess 144 297 450 2500 India Bulls 523 1638 475 1700

3000 2500 2000 Cities 1500 1000 500 0 India infoline Motilal oswal Sharekhan Edelwiess India bulls Branches Client Base(In '000)) NW(In Cr)

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FINDINGS: India Infoline is among the best broking firms, preferred by the customer. People are less aware of investment options and they do not know their risk appetite, which leads to loss in most of the cases. Customer of India Infoline is satisfied with its service. Most of the companies provide similar products to the customer. People trade only in equity; most of the people do not trade in derivatives & commodity. People prefer the firm which offers low brokerage and neglects the benefits of research and suggestions provided by the firm. People are not aware of the benefits of trading in derivatives so lots need to be done in this direction. People in India generally prefers safe & risk less investment avenue. Few of them have fear of stock market in their mind. People wants to invest in stock market but they have not adequate knowledge of stock market so firms should educate people & help them to invest in stock market. People think that Insurance is a bad product for returns. India Infoline is providing Insurance products of ICICI Prudentials which has lots of opportunity.

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LIMITATION: Lack of awareness of capital market: Since the area is not known it takes a lot of time to convince people to start investing in shares primarily in IPOs. Some people are comfortable with traditional system: As people are doing trading from their respective brokers, they are quite comfortable to trade via physical form of paper. Lack of Techno Savvy people and poor internet penetration: Since most of the people are quite experienced and also they are not techno savvy. Also Internet penetration is still poor in India. Some respondents are unwilling to talk: Some respondents either do not have time or do not want to talk as they are quite annoyed with the phone calls. Inaccurate leads: Sometimes leads are provided which had error in it, having wrong numbers or wrong names. The time constraint was one of the major problems. The study was limited as there is a vast range of products are available in the market. The lack of sources for the analysis part.

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RECOMMENDATIONS:1) IIFL needs to diversify various investment options initially, so that customer can make profit during bullish market condition and avoid large losses during bearish condition through Hedging. 2) As we experienced that most of the customers are not aware about all the products of IIFL, So in order to aware them IIFL needs to organize monthly Seminar so people can diversify their portfolio with new options and get effective return This activity can help IIFL to market their products effectively and to attract large number of Retail investors. 3) The company should focus on the customer satisfaction to make a long term healthy relationship. 4) IIFL needs to develop proper software for Follow-ups As most of the hot leads generated by us (Interns) are remain ineffective just because of the improper follow-up. 5) IIFL needs to improvise its physical resources like Telephone and computers because we experienced difficulties at the time of tele-calling and data base management. 6) IIFL should link as many PSU banks as clients want to use their own bank account.

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CONCLUSION:On the basis of the study it is found that India Infoline Ltd. Is better service provider than that of other stock brokers because of their timely research and personalized advice on what stocks to Buy and Sell. India Infoline Ltd. provide the facility of mobile trading as well as relationship manager facility for encouragement and protect the interest of their investors. It also provides the information through the internet and mobile alerts that what IPOs are coming in the market and it also provides its research on the future prospects of the IPO. India Infoline Ltd. has a vast range of investment products like Equity, Commodity, Currency and it also deals with Insurance products of ICICI Prudentials.

Study also concludes that people are less aware of commodity and currency market and Insurance products which is going to be most profitable and biggest market in India.

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BIBLIOGRAPHY:Websites: www.google.com www.bseindia.com www.nseindia.com www.moneycontrol.com www.indiainfoline.com www.sharekhan.com www.indiabulls.com www.icicidirect.com www.hdfcdecurities.com

NEWSPAPERS: 1. Economic times 2. Times of India 3. Financial express

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