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Summer Training Report Submitted in partial fulfillment of the requirements for the PG Diploma in Management PGDM (Session 2012-2014)

Under supervision of: Dr. Meenakshi A. Singh (Reader)

By:Neha kumari Pg/18/042



I hereby declare that this project report titled WORKING OF KOTAK SECURITIES IN COMPARISION OF OTHER BROKING AGENCIES In KOTAK SECURITIES is executed as per the course requirement for the post graduate program in management and it has not been submitted by me or any other person to any other university or institution for degree or diploma. Its my own work.



In this project I have made an honest and dedicated attempt to make the research material as authentic as it could. And I earnestly hope that it provides useful and workable information and knowledge to any person reading it.

During this small time frame of two months in which the project reached its completion, there were a few people whom I would like to make a mention of and without whose help the project would have never seen the light of the day.

I also thank to my FACULTY guide DR. MEENAKSHI A. SINGH for his timely response, which immensely helped in giving the project the direction it needed.

I would like to thank my INDUSTRY guide Mr. SHASHIKANT ROY ( BRANCH MANAGER) who gave me a free hand as far as going about the project work was concerned.

Last but not the least; I would thank my office members & all my lecturers for giving me an opportunity to work with such an esteemed organization, guiding& encouraging me throughout.



It is great privilege for me to place this report before the reader. This report is concerned with WORKING OF KOTAK SECURITIES IN COMPARISION OF

OTHER BROKING AGENCIES this project has been completed with the help of many people who guided through thick and thin and provided me every kind of support in completing my report. At last I want to give my thanks to everybody who has co-operated me a lot in completing this project.




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Executive summary

This project provides an insight in to the financial service industry of which insurance, stock and mutual funds from an integral part. The project focuses on the stock trading services provided by kotak security.

The project also includes the services industry in which kotak plays an important role. The organization structure, history of the company, ownership patterns, divisions and branches and different departments in the organization are also mentioned.

The project provides an overall view on the financial standing of the company, products offered and services provided the competitors in the industry.

Lastly the project involves an analysis and comparative study of the product of kotak securities with its competitors and recommendations to provide a horizon of improvement and growth.



A stock

market is



public market for

the trading of company stock and derivatives of company stock at an agreed price; both of these aresecurities listed on a stock exchange as well as those only traded privately. Trading Participants in the stock market range from small individual stock investors to large hedge fund traders, who can be based anywhere. Their orders usually end up with a professional at a stock exchange, who executes the Some exchanges are physical locations where transactions are carried out on a trading floor, by a method known as open outcry. This type of auction is used in stock exchanges and commodity exchanges where traders may enter "verbal" bids and offers simultaneously. The other type of exchange is a virtual kind, composed of a network of computers where trades are made electronically via traders. Actual trades are based on an auction market paradigm where a potential buyer bids a specific price for a stock and a potential seller asks a specific price for the stock. (Buying or selling at market means you will accept any ask price or bid price for the stock, respectively.) When the bid and ask prices match, a sale takes place on a first come first served basis if there are multiple bidders or askers at a given price.

Stock market index The movements of the prices in a market or section of a market are captured in price indices called stock market indices, of which there are many, e.g., the S&P, the FTSE and the Euronext indices. Such indices are usually market capitalization (the total market value of floating capital of the company) weighted, with the weights reflecting the contribution of the stock to the index. The constituents of the index are reviewed frequently to include/exclude stocks in order to reflect the changing business environment.

Derivative instruments Financial innovation has brought many new financial instruments whose payoffs or values depend on the prices of stocks. Some examples areexchangetraded funds (ETFs), stock index and stock options, equity swaps, single-stock futures, and stock index futures. These last two may be traded on futures exchanges (which are distinct from stock exchangestheir history traces back to commodities futures exchanges), or traded over-the-counter. As all of these products are only derived from stocks, they are sometimes considered to be traded in a (hypothetical) derivatives market, rather than the (hypothetical) stock market Function and purpose The stock market is one of the most important sources for companies to raise money. This allows businesses to go public, or raise additional capital for expansion. The liquidity that an exchange provides affords 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. 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. Rising share prices, for instance, tend to be associated with increased business investment and vice versa. Share prices also affect the wealth of households and their consumption. Therefore, central banks tend to keep an eye on the control and behavior of the stock market and, in general, on the smooth operation of financial system functions. Financial stability is the raison d'tre of central banks. Exchanges also act 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 Regulator SEBI The Securities and Exchange Board of India (SEBI) is the regulatory authority in India established under Section 3 of SEBI Act, 1992. SEBI Act, 1992 provides for establishment of Securities and Exchange Board of India (SEBI) with statutory powers for (a) protecting the interests of investors in securities (b) promoting the development of the securities market and (c) regulating the securities market. Its regulatory jurisdiction extends over corporate in the issuance of capital and transfer of securities, in addition to All intermediaries and persons associated with securities market. SEBI has been obligated to perform the aforesaid functions by such measures as it thinks fit. In particular, it has powers for: regulating the business in stock exchanges and any other securities markets * * Registering and regulating the working of stock brokers, subbrokers Promoting and regulating self-regulatory organizations. Prohibiting fraudulent and unfair trade practices calling for information from, undertaking inspection, conducting inquiries and audits of the stock exchanges, intermediaries, self regulatory organizations, mutual funds and other persons associated with the securities market. COMPANY OVERVIEW


The Kotak Mahindra group was born in 1985 as Kotak capital management financiers ltd. Day Kotak, Sidney A.A Pinto, Promoted the company. Industrialists Harish Mahindra and an and Mahindra Took a stake in 1886 and thats when the company changed its name to KOTAK MAHINDRA FINANCE LIMITED.

1986: Kotak Mahindra Finance Limited starts the activity of bill discounting. 1987: Enters the base and hire purchase market. 1990: Auto finance division was started. 1991: Investing banking was started. 1992: Enters funds syndication sector. 1995: Brokerage and distribution businesses incorporated into a separate company Kotak Securities. 1996: The auto finance business was hived off into aspirate company- Kotak Mahindra Primus Limited. Kotak Limited, for financing ford vehicles. 1998: Enters the mutual fund market with launch of Kotak Mahindra Company 2000: Kotak Mahindra ties up with old mutual for the life4 insurance business. Kotak Securities launches Kotak street system. Com- its online broking site. 2003: Kotak Mahindra finance Limited converts to bank

Kotak securities limited are a subsidiary of Kotak Mahindra Bank Limited is one of largest private brokerage and distribution house Set up in 1994 by Mr.


Uday Kotak. Kotak securities have 25% equity participation from Goldman Sachs. Kotak securities have been the largest in IPO distribution and were ranked no.1 in the year 2003-2004 as book running lead managers in I POs by prime database. The core strengths are the expertise in equity research and wide retail distribution network. It has an outstanding research division involved in macro economic studies, industry and company specific equity research with analysts specializing in particular economic sectors and large cap stocks. Kotak securities manage assets over rupees 1200 cars under portfolio management services. Main areas of business Kotak Securities are: Institutional broking business Private client group Client money management Retail distribution of financial products Depository services Online trading

Institutional broking business:-

This service primarily covers secondary market broking. It caters to the needs of foreign and Indian institutional investors in Indian equities Kotak Securities institutional business also incorporates a comprehensive research cell with sect oral analysts who cover all the major areas of Indian economy.

Private client group:Private client group is a special investment division for high net worth individuals. Nonresident Indian investors, trusts corporate and banks the

investments product range at private client group is among the widest in the country and covers debt and equity, mutual funds and specialized structured investment products. Client money management:This division provides professional portfolio management services to high net worth individuals and corpotate.Efficient fund management is maintained at all times as well as complete accountability and transparency. Its expertise in research and stock broking gives it the right perspectives from which it provide its clients with investments advisory services that benefit the clients. Retail distribution of financial products Kotak Securities has a comprehensive retail distribution network, comprising about 7000 agents, 13 branches and over 20 franchisees across India. This network is used for the distribution and placements of a range of financial products that includes company fixed deposits, mutual funds initial public offerings, equity and small saving schemes. Depository services:Kotak Securities is a depository participant with national securities depository limited for trading and settlement of dematerialized shares. Since it is also in the broking business investors who use its depository services get dual benefit. Online trading:Kotak Securities online broking service offers services for retail investors who like to trade on net its unique product offering securities as margins and its market watch facility with real time prices combined in an order facility not offered by and other web site at present.



Kotak Mahindra Bank

In Feb. 2003 Kotak Mahindra Bank finance limited the groups flagship company was given the license to carry on banking business by RBI. This approval creates banking history since Kotak Mahindra Finance limited is the first company in India to convert to a bank. Mr. K.M. Gherda is the chairman and Mr. Uday Kotak is the vise chairman managing director of the bank. A Kotak Mahindra Primus limited Kotak Mahindra Primus limited is a joint venture between Kotak Mahindra bank limited and ford credit formed to finance all non ford passenger vehicles. The company was incorporated on 20th February 1996 and commences its operation on 1st November 1996. The net worth on 31st March was 464 crore. Mr. Kotak is the chairman and Mr. Deepak Gupta, Mr. C. Jairam, Mr. Gaurang Shah, Mr. Pankaj Desai, Mr. Nishchal kkkk, Mr. Gregery Coham and Mr. Raghu Nadaaa are the directors of Kotak Mahindra Premium Limited. Kotak Mahindra Asset Management Company Kotak Mahindra Asset Management Company is a wholly owned subsidiary of Kotak Mahindra Bank limited is the asset manager of Kotak Mahindra Mutual Fund. KMAMC started operation in December 1998 has over 1,35,000 investors in various schemes. Kotak Mahindra Venture Capital Fund


KMVCF sponsored by Kotak Mahindra Bank limited was formed to cater the needs of the modern day entrepreneur. The fund partner with companies for their first and second of funding requirements in the emerging high growth sectors such as IT research and proudest, internet and E-commerce, media, healthcare, investments in company could range from Rs. 20 millions to Rs. 100 millions. KMVKF is a SEBI registered VCF with KMBL as the principal investor and 30 other private investors. KMBL is the investment manager of fund.

Kotak Mahindra International Limited Kotak Mahindra international limited is the international arm of Kotak Mahindra Group and was incorporated in 1994 in Mauritius; with a brand in Dubai and now international operation are cover the United Kingdom through Kotak Mahindra UK limited in USA through Kotak Mahindra Inc. USA. These companies are subsidiaries of Kotak Mahindra Capital Company. Kotak Mahindra Capital Company Limited KMCCL was incorporated 1996 as a joint venture between Goldman Sachs the international banking and brokerage firm and Kotak Mahindra Bank limited. KMCC in its franchisee business focuses in fine care areas capital markets, mergers acquisition, corporate advisory, structured finance and international operational. KMCC has advised some of the largest telecom and cement deals in India. KMCC is a leading player in the field of Media and advertisement. KMCC is also RBI is approved primary deals in the government securities market. Mr. Kotak is the chairman and Ajay Sondhi is Vice president and managing director. Kotak Mahindra Life Insurance


Om Kotak Mahindra life insurance ventures a 74:26 joint venture with old mutual. U.K. Kotak Mahindra Bank limited believes that life insurance is a logical expansion of its exiting financial services business. Old mutual is a leading financial services provider in the world, providing a wide range of financial services in the area of insurance, asset management and banking.

MARKET SHARE Kotak Securities Ltd. is Indias leading stock broking house with a market share of around 8.5 percent as of March 31, 2006. It handles more IPOs than any other brokerage. The company has a full-fledged research division involved in macroeconomic studies, sect oral research and company-specific equity research combined with a strong and well-networked sales force, which helps deliver current market information and news. Kotak Securities is also a depository participant with National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL), providing dual services wherein the investors can use brokerage services for executing transactions and depository services for settling them. The firm has 195 branches servicing more than 2,200,000 customers across 231 cities., the online division, offers Internet brokerage services and also online IPO and mutual fund investments. Kotak Securities manages over 2500 crores of Assets under Management (AUM). Its portfolio management services cater to the high end of the market, offering an answer for those who would like to grow exponentially on the crest of the stock market, with the backing of an expert.


AWARDS AND RECOGNIZATION Kotak Securities Ltd. 100 % subsidiary of Kotak Mahindra Bank is one of the oldest and largest broking firms in the Industry. The companys offerings include stock broking through the branch and Internet, Investments in IPO, Mutual funds and Portfolio management service. Kotak Securities has a fullfledged research division involved in Macro Economic studies, Sect oral research and Company Specific Equity Research combined with a strong and well networked sales force which helps deliver current and up to date market information and news. Kotak Securities network spans over 321 cities with 877 outlets, with an employee workforce beyond 5100. The company is also a depository participant with National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL), providing dual benefit services wherein the investors can avail the companys brokerage services for executing the transactions and the depository services for settling them. Kotak Securities Ltd. processes more than 4, 00,000 trades a day which is much higher even than some of the renowned international brokers. Kotak Securities Limited has over Rs. 3300 crore of Assets under Management (AUM) as of 31st March, 2008. The portfolio Management Service provides top class service, catering to the high end of the market. Portfolio Management from Kotak Securities comes as an answer to those who would like to grow exponentially on the crest of the stock market, with the backing of an expert. Unlike many other companies, Kotak Securities Ltd. has a Centralized Risk Management System and an in-house Research Team which allows it to offer the same levels of service to customers across all locations. Kotak Securities was awarded as the most customer responsive company in the Financial Institution sector by AVAYA Global Connect Award both in 2006 and 2007.

Kotak Securities Ltd has been the first in providing many products and services which have now become industry standards. Some of them are:

Facility of Margin Finance to the customers Investing in IPOs and Mutual Funds on the phone SMS alerts before execution of depository transactions Mobile application to track portfolios Auto Invest A systematic investing plan in Equities and Mutual funds Provision of margin against securities automatically against shares in the customers Demat account

Kotak Securities Accolades include:

Best Brokerage Firm in India by Asia money in 2008, 2007 & 2006 Best Performing Equity Broker in India CNBC Financial Advisor Awards 2008

Avaya Customer Responsiveness Awards (2007 & 2006) in Financial Services Sector

The Leading Equity House in India in Thomson Extel Surveys Awards for the year 2007 Euro money Award (2007 & 2006) Best Provider of Portfolio Management: Equities

Euro money Award (2005)-Best Equities House In India Finance Asia Award (2005)-Best Broker In India Finance Asia Award (2004)- Indias best Equity House Prime Ranking Award (2003-04)- Largest Distributor of IPOs



ethical practices & transparency in all our dealings customer interest above our own always deliver what we promise effective cost management

We offer services like:

Equity Broking Commodities Depository Research E-broking Advisory Portfolio Management Services Mutual Fund Distribution

Kotak Securities Brokerage Charges 2013 Account opening fees:

Trading Account Opening Charges (One Time): Rs 750 Trading Annual maintenance charges (AMC): Rs 0 Demat Account Opening Charges (One Time): Demat Account Annual Maintenance Charges (AMC): Rs 600 per annum


Kotak Securities Demat Account Charges:

Sr Account Head 1 Dematerialization 2 Rematerialisation Debit Transactions - On 3 Market and Off Market Account Maintenance Charges 4

Rate Rs.50/- per request and Rs.3/- per certificate Rs.10/- for 100 shares 0.04% of the value of securities (Plus NSDL charges as applicable)

Minimum Payable -Rs. 15/Rs. 27/- (Plus NSDL charges as applicable)

Rs. 50/-per month Rs. 75/-per month

Resident Indian NRI


5 Pledge Charges

0.05% of the value of securities 0.04% of the value of securities

Rs. 30/-

6 Invocation of Pledge

Rs. 30/-

Charge for Client Master Rs.25/change intimation

Kotak Securities Advantages 1. Kotak Securities website provides wide range of investment options. This includes investment in equity, IPOs, Bonds, FDs, ETFs, Mutual Funds, Currency Derivatives etc. 2. Along with the online trading facility, customer gets access to 1400+ branches for help on investment and issue resolution. 3. Kotak Securities provide daily SMS alerts, market pointers, periodical research reports, stock recommendations etc. to help the customers. 4. Online Chat facility is available to support customer.

5. Kotak security offers easy integration of trading account with Citibank, HDFC Bank, UTI Bank and Kotak Mahindra Bank.

Kotak Securities Disadvantages 1. Kotak Securities is a Full Services Broker. The brokerage changed by them is higher than the Discount Brokers.

SWOT analysis of kotak securities ltd.

Strength: 1. 2. 3. 4. Weakness: 1. Company with conservative outlook. 2. High amount for account opening. 3. Low market penetration. Opportunity: 1. Opportunity to trap the trading in growing capital market segment. 2. To be best in providing diversified financial services. Threats : 1. From its leading competitors. 2. New growing brokerage houses create a threat to maintain its position. Competitive and economical brokerage charges. Strong research team. Strong advisory & research desk. Outstanding customer service.



Registered office.

Kotak securities ltd . Bakhtawar ,1st floor , 229 Nariman point ,Mumbai 400021

Corporate office.

Kotak securities ltd. 2nd floor, Amandeep building 14 ,kasturba Gandhi marg New delhi , 110001

Branch office.

Kotak securities ltd. 1st floor, Arihant complex Sigra , Varanasi 221010


Major Players in the BROKING Industry in Varanasi

Share khan Religare securities ltd. Anand rathi Motilal oswal India bulls Icici direct Karvey India infoline Kotak securities ltd.

Anand Rathi

Anand Rathi (AR) is a leading full service securities firm providing the entire gamut of financial services. The firm, founded in 1994 by Mr. AnandRathi, today has a pan India presence as well as an international presence trough office in Dubai and Bangkok.

AR provides a breadth of financial and advisory services including wealth management, investment banking, corporate advisory, brokerage &

distribution of equities, commodities, mutual funds and insurance - all of which are supported by powerful research teams.

The firm's philosophy is entirely client centric, with a clear focus on providing long term value addition to clients, while maintaining the highest standards of excellence, ethics and professionalism. The entire firm activities are divided across distinct client groups: Individuals, Private Clients, Corporates and Institutions.

Share khan

Incorporated in February 2000, Share khan is India's 2ndlargest stock broker providing brokerage services through its online trading website and 1950 Share shops which includes branches & Franchises in more than 575 cities across India. Share khan has seen incredible growth over last 10+ years though it's very successful online trading platform and the chain of franchises located in almost every part of India. Sharekhan has over 10 lakh retail and institutional customers. is the finest investment portal for India stock market. The well designed website provides wide range on investment options, latest stock market updates and many tools for investors. Sharekhan also offers 'Sharekhan TradeTiger', one of the most popular trading terminals, for retail investors. The TradeTiger is quite similar to Broker Terminal and allows frequent traders to place and execute their orders at a high speed. It also provides live data and other tools on the same screen to help the users with their trades. Sharekhan's 'ShareMobile' platform offers trading facility though mobile application. Mobile apps are available for popular iPhone, iPad, Blackberry, Android and other phones. Services offered by Sharekhan include trading in equity, F&O and Commodity and investment in IPO's, Mutual Funds, Insurance, Bonds and NCD's. Company also provide Sharekhan Demat Account and registered as a depository participant with NSD and CDS.


Sharekhan offers verity of accounts to suite customer requirement. These accounts include Sharekhan First Step Account, Sharekhan ClassicAccount, Sharekhan Trade Tiger Account and Portfolio Mgmt Services (PMS) though Sharekhan Platinum Circle Account. Sharekhan has its own research teams which regularly publishes investment advices, stock tips, quarterly company result analysis and news alerts to its customer though email, SMS and on Sharekhan has an excellent knowledge center on its website to help stock and commodity market investors of all kind. It also offers free online and classroom seminars / workshops to investors. Each Sharekhan Accounts comes with online and inperson help from Sharekhan representative.

Sharekhan Brokerage Charges 2013 Account Opening Fees & Annual maintenance charges (AMC)

Trading Account Opening Charges (One Time): Rs 750 (Classic Account), Rs 1000 (Trade Tiger Account) Trading Annual maintenance charges (AMC): Rs 400 (First year remains free)


Sharekhan Advantages

1. Sharekhan offers online and classroom training, seminars and workshops to investors.

2. Sharekhan doesn't charge for Online Funds Transfer from bank account and Funds Pay-out to bank account.

3. Sharekhan doesn't charge for DP transactions. Share transfer from and to the dp account is free.

4. Sharekhan has India-wide network of branches. You can find surly find a Sharekhan in your neighborhood.

5. Call & Trade facility is free with Sharekhan.

Sharekhan Disadvantages 1. Sharekhan doesn't offer 3-in-1 account as they don't provide banking services.

2. They brokerage charges are % based which are higher in comparison to flat fee brokers.

3. They charge minimum brokerage of 10 paisa per stock would not let you trade stocks below 20 rs. (If you trade, you will loose majority of your money in brokerage).

4. Facility to place orders after trading hours is not available.


RELIGARE Religare is an emerging markets financial services group with a presence across Asia, Africa, Middle East, Europe, and the Americas. In India, Religares largest market, the group offers a wide array of products and services including broking, insurance, asset management, lending solutions, investment banking and wealth management. With 10,000-plus employees across multiple geographies, Religare serves over a million clients, including corporate and institutions, high net worth families and individuals, and retail investors. Religare Securities Ltd. (RSL), a wholly owned subsidiary of Religare Enterprises Limited (REL), an emerging markets financial services group is a market leading securities firm in India. The company offers equity & currency broking services to more than 7,50,000 clients using both, offline and online platforms and also offers depository participant services. RSL is a member of the NSE, BSE, MCXSX, USE and a depository participant with NSDL and CDSL. RSL employs more than 4800 employees and has a wide distribution reach that spans across more than 1500 locations in India. Online platform provides customers the opportunity to trade in Equities, Commodities, and Currency Futures, apply for IPOs and invest in Mutual Funds. People who wonder where Religare word came from, it's a Latin word meaning 'to bind together'. .

Religare offers three kinds of online accounts (as stated above) with zero account opening fees. They provide different brokerage options based on the volume and frequency of trading, as well as to suit the needs of both beginners and traders.

Religare Advantages 1. Religare gives interest on unutilized cash when investor is waiting to make next trade or an online investment.


2. Clients get to earn trade rewards every time they trade in equity or invest in IPOs with them.

3. Online facility of placing After Market Orders is available to investors.

4. Facility of investing in Equities, Derivatives, Currency Futures, Mutual Funds and IPOs through a single login.

5. They provide intraday reports and historical charting.

6. Also provide a variety of fee structures to fulfill the needs of different types of investors.


Incorporated in 1987, Motilal Oswal Securities Ltd is a well diversified financial services firm offering a range of financial products and services such as Wealth Management, Broking & Distribution, Commodity Broking, Portfolio Management Services, Institutional Equities, Private Equity, Investment Banking Services and Principal Strategies. Companies have a diversified client base that includes retail customers (including High Net worth Individuals), mutual funds, foreign institutional investors, financial institutions and corporate clients. They are headquartered in Mumbai. Motilal Oswal's Trading Platforms 1. Web Platform: Web Platform is suited for first time investors who want a clean and simple interface. Investor can trade from any internet connected PC and place the order with instant confirmation. 2. Desktop Platform:

Desktop Platform is suitable for those investors and traders who want live market watch and faster execution. 3. Mobile Platform: Mobile platform works on most GPRS enabled mobile phones. Investor can directly buy/sell from market watch. It also provides the facility to modify or cancel the pending orders. 4. Call N Trade: Call N Trade Platform is suitable when investor don't have online access to their trading site. All Motilal Oswal customers enjoy Call N Trade services at no additional cost. .

Motilal Oswal Brokerage Charges 2013 Trading Brokerages: For Value Pac (Value 2,500)

Intra-day Trades: 0.080% Delivery Based Trades: 0.40% F&O Trades: 0.090% Options Trades: Rs. 100/- per contract

For Margin Scheme (Margin 10,000)

Intra-day Trades: 0.10% Delivery Based Trades: 0.50% F&O Trades: 0.10% Options Trades: Rs. 100/- per contract

Motilal Oswal Advantages 1. Wide Range of Investment Choices- Equity, Derivatives, IPOs Or Mutual Funds.

2. Discounted Brokerage Schemes that offers true value for money. 3. Complete Ease of Operation with more than 39 banks for Fund Transfer.


Indiabulls Securities (ISL) is the India-based Stock Broker. ISL is part of Indiabulls Group, a leading business house in India with businesses spread across many sectors including Infrastructure, Power, Real Estate and Financial Services. Indiabulls Securities provides integrated capital market related services in India including Stock Broking, Equity Research, Depository Services, IPO Investment, Commodities Trading and Trading in Currency Derivatives. Indiabulls offers these services through its popular online trading platform (Power Indiabulls) and also though a wide network of branches and sub brokers. The Indiabulls Online Trading Platform, Power Indiabulls (PIB) is desktop trading application designed and developed in-house by ISL. It's a fully integrated user friendly trading application. (Note that a customer has to pay one time activation fees of Rs 750 to use PIB.) Indiabulls also provides a Mobile Trading Platform 'Mobile Power Indiabulls (MPIB)'. MIPB is among the best mobile trading application available to Indian Stock Market Investors. The MIPB offers Live Market Watch, Facility to Buy & Sell Stocks, View Reports and Messages on verity of smart phones. .Indiabulls Securities's Trading Platforms 1. Power Indiabulls (PIB) PIB is Indiabulls Securities Online Trading Platform. It offers built-in internet trading features along with Live Streaming Stock Quotes. PIB can be accessed though a web browser like Internet Explorer. It offers features which suites beginners to advance traders. Live Market News, Tic by Tic Live Intraday Charts, Technical Analysis are few key features available in PIB.


2. Website Trading Indiabulls trading website allows its customers to place orders online, track transactions, invest in IPOs and Mutual Funds, Transfer Funds, Track Portfolio and access research reports and news. 3. Mobile Power Indiabulls (MPIB) The Mobile Trading Platform of Indiabulls allows Trade in Equity, Access to Real Time Stock Quotes and Market Research Reports, Customized Alerts and Messages, View Margin Report and Trading Account Summary etc. It allows you to trade anytime from anywhere. Indiabulls Securities Brokerage Charges 2013

Trading Account Opening Charges (One Time): Rs 750 Trading Annual maintenance charges (AMC): NIL Demat Account Opening Charges (One Time): NIL Demat Account Annual Maintenance Charges (AMC): Rs 450

Indiabulls Brokerage Charges:

Delivery Based Trades Brokerages: 0.40% Intra-day Trades Brokerages: 0.04% Future Trades Brokerages: 0.04% Options Trades: 2.5% or Rs 100 per lot whichever is higher Minimum Brokerage: 4 paisa per share

Indiabulls Securities Advantages 1. Trading Terminal 'Power Indiabulls' is among the best trading terminals available in the market.


2. Wide spread network of local branches and sub brokers make them very accessible.

3. Security Tokens are available for people who need additional security of their trading account.

Indiabulls Securities Disadvantages 1. 'Power Indiabulls' Trading Terminal comes at a cost of Rs 750 onetime fee.

2. Indiabulls Securities doesn't offer 3-in-1 account as the company doesn't provides banking services.

ICICIdirect ICICIdirect is an online trading and investment platform on ICICI Securities, the largest stock broker firm in India providing a wide range of investment options to the retail and institutional customers. ICICI Securities is part of ICICI Group, India's top financial service provider offering banking and other financial services. ICICI Securities (I-Sec) is the top equity house in India with over 20 lakh customers. is the flagship website of I-Sec. This website was the first online trading platform lunched in India to provide browser based equity, commodity and currency trading; all under one login. is the most visited investment portal in India and by NRI's living across countries. It is one website which provides options to invest in over 20 financial products including Equity, Derivatives, Currency Futures, IPO, Mutual Funds, ETF, Fixed Deposits, Loans, Tax Services, New Pension Systems and Insurance. ICICI direct also provide current stock market information which includes stock prices, news, market research reports, stocks tips, events, IPO News and company results. Its 'Centre for Financial Learning' initiative offers number of online and classroom programs for investors.


The 3-in-1 account, which includes ICICI Bank Account, ICICI Direct Trading Account and ICICI Demat Account, is the best offering for retail investors in India as it provides easiest way to invest in stock market and other financial instruments. The customers can visit any of the over 1500 ICICI Bank branches to get help on financial products which are sold through ICICI direct. ICICIDirect Trades In: BSE and NSE

ICICIDirect's Trading Platforms ICICIDirect offers 2 trading platforms to its customers: 1. Share Trading Account (Website Based Trading) Website based online Share Trading Account by ICICIDirect is primarily for buying and selling of stocks at BSE and NSE. The ICICIDirect website allows Cash Trading, Margin Trading, MarginPLUS Trading, Spot Trading, Buy Today Sell Tomorrow, IPO Investment, Mutual Fund Investment etc. website is the primary Investment vehicle of ICICI Limited. 2. Trade Racer (Trading Terminal) Trade Racer is a power packed Trading platform which provides an investor with Live streaming quotes & Research Calls, integrated fund transfer system along with multiple watch list facility. Investor can also do technical analysis with the help advance charting tools. Single Order entry page for Equities and Derivatives, Technical Analysis, Integrated Fund Transfer System, Customized Interface, Intra-day and EOD Charts and Shortcut keys for faster access to markets are some of the key features of Trade Racer Terminal. ICICIDirect Brokerage Charges 2013

Trading Account Opening Charges (One Time): Rs. 975 Trading Annual maintenance charges (AMC): Rs 0 Demat Account Opening Charges (One Time): Rs. 100 (for Agreement Stamp Paper) Demat Account Annual Maintenance Charges (AMC): Rs. 500 (Rs 0/- for 1st year with 3 in 1 Account)


ICICIDirect Advantages 1. 3-in-1 account integrates your banking, broking and demat accounts. All accounts are from ICICI and very well integrated. This feature makes ICICI the most interesting player in online trading facility. There is absolutely no manual interfere require. This is truly online trading environment.

2. Investment online in IPOs, Mutual Funds, GOI Bonds, and Postal Savings Schemes all from one website. General Insurance is also available from ICICI Lombard.

3. Trading is available in both BSE and NSE.

4. Low bandwidth website is available for slow internet connection or for trading from mobile devices.

ICICIDirect Disadvantages 1. ICICIDirect brokerage is high and not negotiable.

2. With e-Invest account(3-IN-1 concept), the Demat Account has to be opened with ICICI Bank Ltd as the Depository Participant (DP) and the Bank Account has to be opened with ICICI Bank Ltd. as the Banker.

India infoline

Incorporated in 1995, India Infoline (IIFL) is the brokerage firm of India Infoline Group, a fastest growing financial services solution provider in India. India Infoline is listed on BSE (532636) and NSE (INDIAINFO) for securities trading.


IIFL offers trading platform and research-based advice for entire range of financial products including Stocks, Derivatives, Commodities, Insurance, FD's, Loans, Bonds etc. Equity / Commodity Broking and Research is the key offering of India Infoline. IIFL has a wide network of 4000+ branches spread over 900+ cities across India (as of Dec 2012). IIFL is very popular among retail investors and traders as their branches are spread all over India. In Oct 2012, IIFL reported the average daily turnover of Rs 4,355 cr in equity and Rs 2,254 Cr in commodities. IIFL won the 'Best Broker with Global Presence' award at the BSE IPF D&B Equity Broking Awards 2012. IIFL has presence through its subsidiaries in Colombo, Dubai, New York, Mauritius, London, Singapore and Hong Kong. India Infoline (IIFL)'s Trading Platforms. IIFL offers 2 different online trading terminals to its customers: 1. 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. 2. 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.

India Infoline (IIFL) Brokerage Charges 2013:Account Opening Fees & Annual maintenance charges (AMC)

Trading Account Opening Charges (One Time): Rs 750 Demat Account Opening Charges (One Time): Rs 555 Demat Account Annual Maintenance Charges (AMC): Rs. 300

Trading Brokerages

Intra-day Trades: 0.05% on the buy side and 0.05% on the sell side.


Delivery Based Trades: 0.50% or 5 paise per share whichever is higher. F&O Trades: 0.05%

India Infoline (IIFL) Advantages 1. Extended network of branches across India and abroad. IIFL has 4000+ branches in India in 900+ cities.

2. IIFL 'Trader Terminal' is one of the best desktop trading terminals in India.

3. India Infoline is a 'full service broker' offering wide range of popular financial products and advisory to its customers.

4. IIFL offers 'Trader Multiple' which allows upto 12.5 times multiple on the available margin for certain select scripts.

India Infoline (IIFL) Disadvantages 1. No intra-day tick by tick charts in Investor Terminal (IT).

2. Investing in IPO and Mutual Funds is not as easy as in ICICIDirect.





1. Mapping out a questionnaire to understand the expectations of customers.

2. To aware the client about the service of Kotak securities 3. To compare the service of Kotak securities with its competitors. 4. Identifying problems being faced by customer.

5. Providing recommendations and steps to be taken to counters these problems.






A research design is the master plan for the conduct of formal investigation and survey .it is a specification of methods and procedure for acquiring the information needs for solving the problem. It decides the source of information and method for gathering data. A questionnaire and other forms are tested to use the collection of data. A sampling design is to be selected.

SOURCE OF DATA COLLECTION:PRIMARY DATA - questionnaire SECOANDARY DATA books related to financial management, internet etc. TYPE OF RESEARCH:- my approach to research is DESCRIPTIVE as well as EXPLORATIVE. The major objective of the descriptive research is to describe something usually feature or functions. Exploratory research is concerned with the identifying the new insights of investment psychology .why investor dont want to invest in share market. METHOD OF DATA COLLECTION:- Survey


Two months

SAMPLING POPULATION- investors of Varanasi city SAMPLING UNIT individual investor of Varanasi city







Q1. Which is your broking firm ?

35 30 25 20 15 10 5 kotak securities ltd no.of person 18

karvey 29

religare securities ltd 32

others 21

Interpretation: The above mentioned graph clearly shows that 32% of investors invest in religare , 29% go for karvey,21% for others and only 18 % go for kotak securities.


Q2. What is the range of your investment per month?

45 40 35 30 25

15 10 5 0 less than 1000 1000 to 10,000 10,000 to 1,00,000 more than 1,00,000

no of people


The above mentioned graph clearly shows that 26% of investors go for range between 10,000 to 1,00,000 , 7% for more than 1,00,000, 39% go for 1,000 to 10,000while only 28% goes for less than 1000.


Q3. In which brokerage house you have your Demat account?

35 30 25 20 15 10 5 0 no. of person

religare securities ltd 30

anand rathi 23

kotak securities ltd 18

other 29


The above mentioned graph clearly shows that 30% of investors go for religare whereas only 18% investors go for kotak securities.


Q4. The main reason for choosing your broking firm ?

40 35 30 25 20 15 10 5 0 no. of person

services 38

convenience 19

brokerage 26

any other 17

Interpretation: The above mentioned graph clearly shows that maximum no. of investors i.e. 38% goes for good services whereas 26% goes for brokerage ,19% for convenience and 17% goes for any other option.


Q5. Do you invest in equity market?



To some extent

34% 47%


Interpretation : The above mentioned graph clearly shows that 47% of investors invest in equity market whereas 34% go for to some extent and 19% goes for no option.


Q6. Which mode of trading you prefer?





Interpretation : The above mentioned graph clearly shows that 62% of investors goes for online trading while 38% goes for offline.


Q7. In which tools you invest more frequently ?

equity market

mutual fund

commodity market




24% 36%

Interpretation : The above mentioned graph clearly shows that 36% of investors go for mutual fund whereas 24% goes for commodity market, 21 % goes for other and 19% go for equity market.


Q8. Are you aware about the charges of your broking firm ?



To some extent

34% 46%


Interpretation : The above mentioned graph clearly shows that 46% of investors aware about the charges whereas 34% goes for to some extent, 20% dont aware about charges.


Q9. What factors motivates you to invest in securities?

70 60 50 40 30 20 10 0 new ipo's no. of person 17

more return in less time 58

others 25

Interpretation: The above mentioned graph clearly shows that 58% of investors goes for more return in less time while 25% go for others and 17% go for new ipos.


Q10. How often do you trade?

40 35 30 25 20 15 10 5 0 no. of person

Daily 14

monthly 35

weekly 38

sometimes 13

Interpretation: The above mentioned graph shows that 38% of investors goes for weekly whereas 35% goes for monthly,14% goes for daily and 13% goes for sometimes.


Q11. Have you heard about kotak securities ltd?





Interpretation: The above mentioned graph clearly shows that about 76 % of investors heard about kotak securities and 24 % not heard.


Q12. Are you satisfied with your broking firm service?



To some extent




Interpretation: The above mentioned graph clearly shows that 69% of investors satisfied with their broking firm service whereas only 9% not satisfied.






Online method of trading is increasing among investors day by day.

2. Religare is considered by most of the people as their broking firm. 3. These days people are investing good amount in securities at the same time not a very huge amount due to the raising market risk.


Customers today are more focus toward the service attached with the product rather than focusing on core product.

5. Mutual fund has become the choice for investment of most of the people as it is less expensive, safe, transparent & flexible.


Most people these days are aware about the each aspect like cost facilities of the services they are enjoying.


Maximum customer wants quick return and for this they often trade weekly. Maximum people in Varanasi are aware about the kotak securities.



The satisfaction of customer regarding their broking firm services are at the desired level.

10. Kotak securities are not providing the required facility to the customer regarding the opening of demat a/c which had become an essential requirement these days.




1. Kotak securities are not good in providing services but their market share is improving day by day. 2. Their close rival is religare and karvy whose market share is very close to kotak securities. 3. It is also concluded that kotak securities has more opportunity in Indian market in share trading. As India is growing economy and investors are also interested in making huge investment in securities for higher return. 4. Online trading is getting more and more popularity. 5. Investors prefer more return in short time and this is being considered by kotak securities. 6. Mutual fund is the most preferred choice among the people for investment purpose.





1. Due to limitation of time and cost constrains a sample size of only 100 respondents were chosen which might give different picture than the reality. 2. Data analysis and interpretation done may not be that strong due to small sample and convenience sampling method.

3. The study was conducted in Varanasi only, which restricted the scope of the study. 4. The data provided by the investor and the agents cant be assumed as 100% correct.

5. My inexperience in research area might have affected result.





1) Kotak securities should increases their interpretation with investors more in order to make aware of the need of advice of professional expertise.

2) Kotak securities should try to promote their product through advertisements, personal interpretation and etc.

3) Kotak securities should interact with investors regularly to tell them different types of advantages of investing through kotak securities.

4) They should always try to convenience the investors about importance of Kotak securities in investment market.

5) Kotak securities have to diversify product scheme with different brokerage rate.

6) In Varanasi, kotak securities should do more promotional campaign to increase the brand equity by giving more attractive scheme than other broking firms like religare, angel broking, karvy etc



1. I learned to document everything, filling the forms related to opening account and maintaining the records.

2. I came to know what brokers should focus upon: (a) The nature of the customer (b) The creditworthiness of the customer (d) To maintain legal Relationships with CustomersBrokers/intermediaries should prepare written agreements with their customers. (e) To conduct regular internal reviews of their customer and accounts and maintain relationship with them.

3. I learned to feed information related to customers in KYC.

4. I learned about check punching and feeding the information related to that.





7. 8. 9.





Name_____________________________ Age_____________ Occupation_______________________email_________________________ mob. No._____________________________

1. Which is your broking firm? a) kotak securities ltd b) karvy c) religare securities ltd. d) others____________

2. What is the range of your investment per month? a) Less than 1ooo b) More than 1,00,000 c) 10,000 to 1,00,000

3. In which brokerage house you have your demat account ? a) Religare securities ltd. b) Anand rathi c) kotak securities ltd. d) others_____________

4. The main reason for choosing your broking firm? a) services b) convenience c) brokerage d) any other__________


5. Do you invest in equity market? a) Yes b) To some extent c) no

6. Which mode of trading you prefer? a)online trader b) offline trader

7. In which tools you invest more frequently? a) Equity market b) Mutual fund c) commodity market d) others

8. Are you aware about the charges of your broking firm? a) Yes b) To some extent c) no

9. What factors motivates you to invest in securities? a) New ipos c) more return in less time

b) Others_________________


How often do you trade? c) weekly d) sometimes

a) Daily b) Monthly


Have you heard about kotak securities? b) no

a) Yes



Are you satisfied with your broking firm service? c) no

a) Yes b) To some extent If no , Why ?