Religare's Financial Services Overview

1.
INTRODUCTION
Religare is a global financial services group with a presence across Asia, Africa, Middle East, Europe and the
America. Religare is promoted by the promoters of Ranbaxy Pharmaceuticals Limited. In India, Religares
largest market , the group offers a wide array of products and services ranging from insurance, asset
management, broking and lending solutions to investment banking and wealth management. The group has also
pioneered the concepts of investments in alternative asset classes such as arts and films.
Religare is also building an Asia & emerging markets focused Institutional equities & Investment Banking
business and a multi-boutique global asset management platform to tap the broader opportunities offered by the
most promising emerging markets around the world. Religare operate from six regional offices and 25 subregional offices and have a presence in 330 cities and towns controlling 979 locations which are managed either
directly by Religare or by our Bussiness Associates all over India. The company have a representative office in
London. While the majority of religare offices provide the full compliment of its services yet it has dedicated
offices for investment banking, institutional brokerage, portfolio management services and priority client
services.
Religare Enterprises Limited is the holding company for one of India's leading financial services groups.
Religare offers an integrated suite of financial services including asset management, life and health insurance,
lending, broking, investment banking, and wealth management. Religare Enterprises is headquartered in New
Delhi and is listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) in India. The
group started its operations in 1994 when Religare Securities Limited, the group's retail equity broking arm,
became a member of the National Stock Exchange. Since then, the group has expanded to offer an array of
products and built a distribution network that spans the length and breadth of India. In 2004, Religare
Commodities Limited commenced the retail commodities broking business. Religare Finvest Limited, which is
registered with the Reserve Bank of India as a Non-Banking Finance Company (NBFC), came into its current
form in 2008 and has been focusing on providing growth capital to the Small and Medium Enterprises (SME)
sector. Religare commenced three other businesses in 2008: wealth management through Religare Macquarie
Wealth Management Limited, a joint venture with Macquarie of Australia; life insurance through AEGON
Religare Life Insurance Company Limited, a joint venture with AEGON of The Netherlands; and the mutual
fund business by taking over a distressed asset manager which was rechristened Religare Asset Management
Company Limited. The latest addition to Religare's bouquet of offerings, launched in July 2012, is health
insurance through Religare Health Insurance Company Limited in which Union Bank of India and Corporation
Bank are equity partners. Religare is building businesses overseas with an emerging markets focus. Religare
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Capital Markets is an Asia- and India-focused cash equities business with investment banking capabilities in the
region. Religare Global Asset Management is a multi-boutique asset management platform that acquires best-ofbreed asset managers in the alternative assets space. Religare Enterprises Limited was listed on the Stock
Exchanges in India in 2007, after a hugely successful IPO that was oversubscribed 159 times. In the five year
period from 2006-07 to 2011-12, Religare's consolidated revenues have grown ten times - from 3.2 billion to
32.5 billion - while the balance sheet size multiplied 20 times - from 10.1 billion to 203.4 billion. The SMEfocused NBFC is Religare's largest business, contributing 57% to Religare's consolidated revenue and
accounting for 56% of its net worth at the end of FY12.
1.1
ACTIVITIES OF RELIGARE ENTERPRISES LIMITED
Religare Securities Limited

Equity Broking
Online Investment
PortalPortfolio Management
Services Depository Service
Religare Finvest Limited

Lending and Distribution business
Proposed Custodial business
Religare Commodities Limited

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Commodity Broking
Religare Insurance Broking Limited

Life Insurance
General Insurance
Reinsurance
Religare Capital Markets Limited

Investment Banking
Proposed Institutional Broking
Religare Arts Initiative Limited

Business of Art
Gallery launched - arts-i
Religare Realty Limited

In house Real Estate Management Company
Religare Venture Capital Limited

Private Equity and Investment Manager
Religare Hichens Harrison

Corporate Broking
Institutional Broking
Derivatives Sales
Corporate Finance
Religare Asset Management
1.2 NAME AND SYMBOL

1.2.1 Name:Religare is a Latin word that translates as 'to bind together'. This name has been chosen toreflect the integrated
nature of the financial services the company offers.
1.2.2 Symbol:The Religare name is paired with the symbol of a four-leaf clover. Traditionally, it is considered good fortune to
find a four-leaf clover as there is only one four-leaf clover forevery 10,000 three-leaf clovers found. For us, each
leaf of the clover has a special meaning. It is a symbol of Hope. Trust. Care.Good Fortune.For the world, it is
the symbol of Religare.
For us, each leaf of the clover

has a special meaning. It is a symbol of Hope. Trust.Care. Good Fortune. For the world, it is the symbol of
Religare.
The first leaf of the clover represents Hope. The aspirations to succeed. Thedream of
becoming. Of new possibilities. It is the beginning of every step andthe foundation on which
a person reaches for the stars.
The second leaf of the clover represents Trust. The ability to place ones own faith in another.
To have a relationship as partners in a team. To accomplish agiven goal with the balance that
brings satisfaction to all, not in the binding, butin the bond that is built.
The third leaf of the clover represents Care. The secret ingredient that is thecement in every
relationship. The truth of feeling that underlines sincerity andthe triumph of diligence in
every aspect. From it springs true warmth of serviceand the ability to adapt to evolving
environments with consideration to all.
GROUP COMPANIES
INTRODUCTION
Religare Enterprises Limited group comprises of Religare Securities Limited, Religare
Commodities Limited, Religare Finvest Limited and Religare Insurance Broking Limitedwhich
deal in equity, commodity and financial services business.
1.Religare Securities Limited
RSL is one of the leading broking houses of India and are dealing into Equity Broking,
Depository Services, Portfolio Management Services, Internet Trading, Institutional Equity
Brokerage & Research, Investment Banking, Merchant Banking and Corporate Finance.To
facilitate free and fare trading process Religare is a member of major financial institutions like,
National Stock Exchange of India, Bombay Stock Exchange of India ,Depository Participant with
National Securities Depository Limited and Central Depository Services (I) Limited, and a SEBI
approved Portfolio Manager.RSL serves a platform to all segments of investors to avail the
opportunities offered by investing in Indian equities either on their own or through managed
funds in PortfolioManagement
2. Religare Commodities Limited
Religare is a member of NCDEX and MCX and provides platform for trading incommodities,
which is an online facility also.RCL provides platform to both agro and non-agro commodity
traders to derive the actualprice of the commodity and also to trade and hedge actively in the
growing commodity trading market in India.With this realization, Religare Commodities is
coming up with its branches at mandi locations. It is a flagship effort from our team which would
be helpful in facilitating trade and speculating price of commodities in future.
WHY CUSTOMER TRADE WITH RELIGARE?

1 Personal Assistance
Dedicated dealers for facilitating trading and post trade needs.Dedicated

Relationship Managers for assisting multiple investments needs.
2 Research & Advisory
Regular news and updates on market
Research service over SMS to keep one Daily and weekly technical reports. A
complete
information
report
on
results
and
performance
individual
companies.Complete reports on various economic sectors and their performance

along with analysis of few major companies in that sector Trading calls in Futures
& Options Daily capsule of Market indices and index movement, national and
international corporate news, and their performance along with forth coming IPO
tracker.
3 Add-Ons
Access to all your accounts through your Customer Relationship Number (CRN)
Access your ledger balances and account information over internet, branch and
callcenter
(i) Interest on Cash Margin

Even while you are waiting to make your next trade or online investment, your unutilizedcash
does not lie idle with us. You earn interest on your unutilized cash margin.
(ii) 360 degree Investment Portal

Invest online in Equities, Commodities, Currency, IPO and Mutual Funds in a singleplatform and
maintain all your financial records at one place. Now, you can also file yourtax and book air
tickets, make hotel reservations and buy attractive holiday packages, allonline. So get
empowered, enrich your experience of investing online and open yourself to a whole new world
of possibilities for Religare Online will become Your World Online, beyond investments!
(iii) Exposure upto 20 times* on your margin
Allowing you the freedom to trade without hassles throughout the day without having to worry
about your cash margin. You can get exposure (on cash segment) as high as 20times for intraday
trades.
FEATURES
1. What is Trade Rewards ?
Trade Rewards* is a unique offering from Religare that gives you dual benefit of a hasslefree
investment experience on the net as well as an opportunity to earn while you investwith us.So
earn reward points each time you trade in Equities, Commodities & Currency Derivatives or
invest in your favorite IPOs online with us through highly sophisticatedand customized trading
platform R-ACE (Religare Advanced Client Engine)
2. How are reward points calculated?
You will earn reward points as you trade/invest using Religares online trading platform
R-ACE. The earned reward points can be redeemed against attractive gift vouchers andoffers.
3. How will I know how many reward points have I accumulated?
You can check the status of your accumulated reward points on your trading screen under trading
screen. A complete statement of transactions of your reward points can also beviewed on trading
screens.
4. How do I redeem my reward points?

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The reward points accumulated by you can be redeemed using the "Redemption" option in the
Trade Reward section. You can redeem your reward points against our list of attractive gift
vouchers and offers.
5. How many points can I redeem ?
The points reflected against "Total Redeemable" option in the statement can be redeemed
at anytime. The redeemable points are calculated on the basis of previous months
transactions.
6. When will I get my gift?
Any redemption request received by Religare will be fulfilled in approximately two
RELIGARE AREAS OF OPERATION
RELIGARE SECURITIES LTD
Company Overview
Religare Securities Ltd. (RSL) is the wholly owned subsidiary of REL and a
securities firm in India.
Major activities and offerings of the company include equity broking
both
offline and online, depository participant services, portfolio management

services and institutional brokerage.Member of the NSE, BSE, depository
participant with NSDL and CDSL, and SEBI approved portfolio
manager.Businesses under Religare Securities Ltd. include:
(i) Retail Equity Broking
(ii) Priority Client Equity Services
(iii) Online Investment Portal
(iv) Institutional Equity Broking (To be shifted to RCML)
(v) Portfolio Management Services
(vi) Depository Services
Empanelment with 81 institutions including 20 mutual funds, 10

insurance companies, 35 banks and 11 FIIs. Has strong institutional research
team covers over 185 companies in 16 sectors.
Aggressive
ramp up of equity trading client accounts
with marketshare
increasing to 3.8% in June 2008 from 2.7% in FY07 andonline trading market
share increased to 8.7% in June 2008 from7.2% in October, 2007.
Received in principal approval from SEBI to act as a sponsor of Asset

Management joint venture with Aegon.
Received P1 Credit Rating from CRISIL for its short term debt issuance
program for a sum of Rs. 7,000 million
Religare Securities Limited (RSL)I
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It is a leading equity and securities firm in India. The company currently handles
sizeable volumes traded on NSE and in the realm of online trading and investments it
currently holds a reasonable share of the market.
The major activities and
offerings of the company today are Equity broking, Depository
Participant Services, Portfolio Management Services, Institutional
Brokerage
&
Research, Investment Banking and Corporate Finance. RSL is a member of the

National
StockExchangeofIndia,BombayStock Exchange of India, Depository Participant with
NationalSecurities Depository Limited and Central Depository Services (I)
Limited, and SEBI approved Portfolio Manager. Religare has been
constantly
innovating in terms of product and services and to offer such incisive services to
specific user segments it has also started the NRI, FII, HNI and Corporate Servicing
groups. These groups take all the portfolio investment decisions depending upon a
clients risk / return parameter. Religare has a very credible Research and Analysis
division,
which not only caters to the need of our Institutional clientele, but also gives their valuable inputs
to investment dealers. Religare is also providing in-house Depository services to its clientele and
is one of the leading depository service providers in the country.
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.
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Online platform provides customers the opportunity to trade in Equities, Commodities, 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'.
Products & Services of Religare Securities Limited
1. Equity and Derivatives:Religare is one of the heavy weight equity players in India with membership of
National Stock Exchange of India and Bombay Stock Exchange - both major
exchanges of India. We believe in innovative services that could cater a range of
customers according to their requirements.
Race and Rally are the two products offered by Religare Securities ltd which come
under equity and derivatives.
While Rally deals with offline facilities, Race provides for complete online package and facility.
There is difference between both offline and online modes of trading. The difference lies on
account
of
schemes, platforms and facilities provided. Initially the clients used to go for offline
its
modes
trading, but now with increasing use of internet online mode has become the preference.
Types of Account
(i) R-ACE (Basic)
It's the basic online trading account provided by Religare. Investor can trade and
access their account information online and over the phone as well. This account
comes with a browser based online trading platform and no additional software
installation needed. This account also provides Lifetime free DP account with no
annual maintenance charges.
(ii) R-ACE Lite (Advanced)
It's the advanced account option for the investor with Religare. This trading account
provides the entire feature of R-ACE (Basic) account. In addition it also provides real12
of
time streaming stock quotes and alerts. This trading platform is also browser based
and no software installation is needed.
(iii) R-ACE Pro (Professional)
As the name indicates this account is for high volume traders. Along with the features from
above 2 accounts, this account also comes with a Trading Terminal, software which needs to
install on your computer.
This
terminal directly
connects the
investor
to stock
market
and having
all industry standard Treading terminal features including technical

charting (intraday and EOD), multiple watch list, advanced hot
key
functions for faster trading, derivative chains, futures & options calculator. As in basic and
advance account, trading is available online through internet and offline though phone.
Brokerage and Account opening fees:
Religare offers three kinds of accounts as above. Below are detail aboutfees and
activation charges for each account.
(i) R-ACE
Account activation charges Rs.299/-.
(ii) R-ACE Lite
Account activation charges Rs.499/-..
(iii) R-ACE Pro
Account activation charges Rs.999/-.4.All the account comes with free annual
maintenance charge.5.All account comes with free DP account.
Brokerage at Religare
On the basis of volume and frequency of trading, Religare provide different options
for brokerages. On the broader way they divided into three categories
(i) Classic Account
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Intraday brokerage varies from 0.3% to 0.5%.Delivery brokerage varies from 0.30%
to 0.50%..
(ii) Freedom Account
In this payment scheme, investor has to pay a fix amount in advance for Annual
Subscription (Rs 4000). This one time payment enable account holder to trade for Rs.
3,00,000 intraday & derivative trading and Rs. 40,000 of delivery based trading for
zero brokerage.
(iii) Trump Account

Trump account has two payment options
(i) Trump Plus has annual subscription fees of Rs 2,500,
Brokerage on Delivery Trades of 0.25% and
Brokerage on Intraday Trades & F&O Trades of 0.025%.
(ii) Trump Super has annual subscription fees of Rs. 15,000,
Brokerage on Delivery Trades of 0.15% and
Brokerage on Intra day Trades & F&O Trades of 0.015%
Advantages of Religare
Religare gives interest on unutilized cash when investor is waiting to make

next trade or online investment.
Religare Allow their investor to trade without having to worry about cash
margin. Investor can get exposure (on cash segment) as high as 20 times for
intraday trades.
They provide intraday reports and historical charting.
Lifetime free DP account.
Varity of fee structure to fulfill need of different type of investors.
4.5. Equity Broking and Online Trading
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Equity client base of over 4.6 lacs, recorded an increase of more than11% in last
quarter Total Equity brokerage of Rs. 749 mn for Q1 FY 09Equity market share
increased from 3.46% to 3.84% in last quarter Online client base of over 78,500
clients, recorded an increase of 20% in last quarter Online brokerage for the quarter
accounted for Rs. 32 mn.
SWOT ANALYSIS:(i) Strengths
Strong corporate relationship with its promoter RANBAXY
Collaborations with highly reputed international companies AEGON and

MACQUERIE.
Provides transparency to clients
Highly qualified research team
Strong network through out India, strong presence in WEST, NORTH and
SOUTH
(ii) Weaknesses
No satisfactory Brand awareness and no Brand recall value
In case of intraday the order is automatically squared off at 3.10 pm
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Problem in linking Religare demat account with the five banks HDFC,
CITIBANK, AXIS, ICICI, INDUS Bank.
(iii) Opportunities
Even the strong players in the market holds 6% of market share, so there is
agood potential for growth
The growing interest of people in the stock market
Indian stock market story going strong
(iv) Threats
Competition from major players like ICICIDIRECT, SHAREKHAN,INDIA

BULLS, KOTAK etc.
The downfall in the stock market.
2. Commodities:Religare Commodities Limited is a member of both the exchanges (MCX & NCDEX)
that allows you to trade in all the commodities traded at both the exchanges. At
present, trading in commodities is restricted to futures contracts only. Religare is
currently offering special services to our esteemed investors in commodities. Portfolio
Advisory Services (COMPASS) - This allows investors to get the benefit of our indepth research services and generate better returns with minimal risk.
Commodity trading in India is comparatively new and gives investors opportunities to
hedge risk of capital market fluctuations. It also is emerging as an additional class of
investment for investors. We are targeting our
58 equity trading customers for
investment in globally-traded commodities, such as bullion and oil and gas, and
currently offer this service from 465 locations, including 42 commodity mandi
locations across the country.
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RCL had a base of approximately 182 clients as on March 31, 2005 which has grown
to approximately 14,955 as on March 31, 2007. In all the locations where commodity
services have been provided, we employ experienced commodities dealers, who
support trading for existing commodity broking clients, in addition to the equity
relationship manager. In certain locations where required, we also have dedicated
commodity relationship managers. As of March 31, 2007, we had 193 dedicated
commodity dealers and 108 commodity relationship managers.
3. Depository Services:Religare is among the few major Depository Participants holding securities worth
more than Rs.6000 crore under its management. RSL provides depository services to
investors as a Depository Participant with NSDL and CDSL.
4. Personal Financial Services:Financial planning services are offered to individuals to put together a financial plan
for managing financial resources. This may include a debt and asset analysis, as well
as college, retirement, estate and tax planning, with periodic checks with the client to
monitor how well the plan is being followed over time. Much of the planning revolves
around developing an income and expense budget, with advice about the types of
financial investments suitable for the particular client. In India, such services
currently are not well developed and there is a large focus on the distribution of
financial products, such as mutual funds, insurance polices and other savings
products. With a view to leveraging the strength of our branch network during the
course of Fiscal 2007, we started distribution of mutual funds and, in Fiscal 2008, we
have converted this segment to Personal Financial Services, or PFS, which will
provide financial planning services where a single team can advise clients across
various product and service offerings.
As of March 31, 2007, we had approximately 27,770 PFS folios for our retail
customers, with total funds invested through us of Rs. 1,467.53 million in equity17
related funds and Rs. 65,029.05 million in debt-related funds. PFS team now offers
the full spectrum of financial planning to customers, which includes insurance, IPOs
and other investment products. Religare had about 200 dedicated PFS advisors as of
March 31, 2007, and this service is expected to be rolled out to all our locations over
the next few years.
5. Insurance:The distribution of life and non-life insurance products in India has historically been
conducted by single agents who are able to sell only one insurance companys
policies. Religare has entered the insurance broking business so that we can deliver
access to all major insurance companies products to our customers. Religare intends
to provide insurance distribution services through our large network of branches as
well as through our dedicated insurance branches. Religare received our insurance
broking license in November 2006.
Religare currently hold a majority stake in Religare Insurance Holding Company
Limited (RIHCL), a company which has been formed to enter into a joint venture
with Aegon International N.V., to offer life insurance and pension products in India.
Religare has infused equity into RIHCL for onward deployment in the joint venture
and, following receipt of regulatory approvals for RIHCL to participate in the joint
venture, Religare ultimately intends to reduce our holding in RIHCL to a minority
stake.
6. Investment Banking:Religare was granted a merchant banking license by SEBI on December 12, 2006.
Our investment banking professionals maintain relationships with businesses, private
equity firms, other financial institutions and high net worth individuals and provide
them with corporate finance and investment banking advice.
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Religare has divided our investment banking business into merchant banking and
transaction advisory services. Investment banking services are being expanded to
include underwriting public equity offerings, mergers and acquisitions advisory
services, corporate restructuring services, placement of private debt and equity
offerings and rendering general investment banking and transaction advisory services.
For Fiscal 2007, investment banking contributed Rs. 199.12 million in revenues and
had a team of 26 persons.
7. Research:Religares products and services offering are based on our wide-ranging research
capabilities. Religare provides high quality research, conducted by a team of 32
Fundamental Analysts, 6 Technical Analysts, 3 Derivative Analysts and 5 Analysts for
Mutual Funds and IPOs covering more than 140 companies across various sectors
under institutional and priority client equity research. Each of Religares Spectrums
employs designated research analysts, with 6 research analysts in our priority client
equity services, 13 research analysts in our institutional brokerage business, 10
research analysts covering equity retail, 12 research analysts covering commodities
and five research analysts in our mutual funds business.
8. Risk Management:Religare;s risk management limits the exposure and margins of each client whether
they are serviced directly by religare or through a Business Associate. Religare has
deployed resources in terms of technology, people and processes to manage our risk
management function. Religare believes that we have effective procedures for
evaluating and managing the market, credit and other risks to which we are exposed,
as well as protecting our reputation in the market. To meet the need for a robust and
efficient risk management system, Religare has created a risk management cell which
is regionally operational and centrally controlled and administered by the head office
team. In order to mitigate business risk, risk management policies are decided by a
risk management committee comprising of senior officials of Religare. These policies
are monitored, reviewed and revised periodically.
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(i) Risk Management Process

Risk management starts with identifying the area of risk. The major risks perceived
are operational risk, credit risk, market risk and regulatory risk. Religare analyse
factors and reasons causing risk on a periodic basis, plan for control of identified
risks, decide on and implement appropriate risk management tools and monitor
policies and procedures with view to continuous improvement.
(ii) Risk Monitoring and Mitigation
Religare uses products from leading software companies such as Financial
Technologies (India) Limited and Asian Cerc Information Technology Ltd along with
multiple in-house software programmes to monitor, among other things, client level
margins and MTM losses. These software packages enable us to provide broking
services through our remote branches, including online trading for various categories
of clients.
(iii) Risk Managers
Religare has experienced personnel to manage risk and regulatory compliance and
ensure
implementation of risk management policy. The risk management team is independent
of marketing and business development teams. All the regional risk team members
work under the direction and control of the central risk management team at our head
office. Team reviews set monitoring parameters, suggest changes on the basis of
regulatory and stock exchange requirements and share best practices.
(iv) Risk Management Levels
Risk management in Religare is carried out at the client-level, the scrip-level and the
company-level:
Client-Level Risk Management:
This is carried out by using online surveillance and monitoring tools developed by
professional software companies in the industry and with the help of Religares
internal
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team. All the clients open positions across exchanges and market segments are
monitored through trading software for margin and MTM losses. Client risk is
validated regardless of whether the client is a direct client of Religare or has been
introduced by a Business Associate. Procedures are developed to service multiple
clients requirements while ensuring control of overall risk. Trading parameters are set
on a dynamic basis and are robust enough to incorporate changes required due to
market conditions and clients trading potential.
Scrip-Level Risk management:
Religare uses internal scrip-based margining, which is based on various parameters

including impact cost, liquidity, volatility and share price fundamentals. Religare
maintains scrip level, group level and segment level margins and limits. The scrip list
with new margin rates is revised using established parameters on a periodic basis.
Company-Level Risk management:
Technology is optimised internally to implement established risk policies, create and

maintain support to end users and implement robust data and network backup plans so
that Religare can reduce company-wide risk in its business. Religare strictly folloes
exchange defined derivative margining systems for its forward and options trading.
(v) Receipt and Payment Control
A centralized system of releasing funds and securities is in place. A client request for
release of payment or securities is acted on only after ensuring adequate availability
of funds or securities (including future obligations) in the clients account. Cheques
are issued in the name of client and no third party payment is issued under any
circumstances. Securities are released into the demat account of the client registered
in religares records.
(vi) Receivables Management
In order to facilitate funds movement, Religare has adopted a centralized funds
management system. Over dues are recovered in accordance with the recovery policy
of the Company.
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10. Technology and Network Support Systems:Religares ongoing investment in technology is a key element in expanding product
and service offerings, enhancing delivery systems, providing fast and consistent client
service, reducing processing costs, and facilitating our ability to handle significant
increases in client activity without a corresponding rise in risk and staff. Religares
technology team is divided into three broad areas:
Network and application management
Application development
Support call centre
Religares network and system has been developed on the principal of a zero failure
rate at our central facility in New Delhi and all remote sites. Religares data centres
are audited quarterly for security on a quarterly basis and Religare has applied for a
BS 7799 (ISO 27001) certification.
Religare has emphasized technology as a key business enabler and have implemented
a fully redundant virtual private network with the capability to provide wellcontrolled, centralized and scaleable business operations.
The key features of our technology platform are:
Religare has central data centers located at corporate office in New Delhi.
Religare work with Financial Technology (India) Limited and Asian CERC as
technology partners for establishing our network and IBM India and HP for providing
servers and desktops. All points of sale are connected to the central hub via this
network with multiple connections to the securities exchanges. Bharti Tele ventures
and Hughes Electronics Corporation are the service providers for the VSAT network
with dedicated telecommunications backup.
Religare has a hybrid network of leased line circuits connecting all our branches,
which facilitates the operations of back office and other business applications. This
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also enables us to continue with business in the event of a breakdown in our satellite
communications link.
Religare has complete connectivity to the Internet using multiple service providers,
allowing all employees robust connectivity. For business information, Religare
subscribe to services from leading international information syndicates, such as
Reuters and Bloomberg.
Religare uses third party software packages for our trading, customer and back
office systems.
11. Competition:Religare encountered intense competition in all aspects of business and compete
directly with many other brokerage companies for clients. Many of Religares
competitors has significantly greater financial, technical, marketing and other
resources than those available to religare. National retail firms such as Merrill Lynch
and Citigroup Global
Markets Inc. are highly prominent in the industry. Religare also face competition from
small traditional brokers and from pan-India brokers such as Kotak Securities
Limited, Motilal Oswal, Angel Broking Limited and India Infoline Limited. In
addition, a number of firms offer discount brokerage services to retail customers and
generally effect transactions at substantially lower commission rates on an execution
only basis, without offering other services such as investment recommendations and
research. Moreover, there is substantial commission discounting by full-service
broker-dealers competing for institutional and retail brokerage business. A growing
number of brokerage companies offer online trading which has further intensified the
competition for brokerage customers. Other financial institutions, notably commercial
banks and savings and loan associations, offer customers some of the same services
and products presently provided by brokerage companies.
12. Intellectual Property:-
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Religare believes that Religare brand, because of its association with the Ranbaxy
Promoter Group, benefits from the trust of many investors in India and enhances
religares market visibility. Religare uses the Religare trademark and service mark
and its associated logos and invest resources in building brand. Ranbaxy Holding
Company, or RHC, has applied for the registration of the Religare trademark and
service mark under the Trademarks Act of 1999, all of which are currently pending
registration.
Religares Company has the licence to use the Religare trademark in India only
pursuant to a licence agreement dated January 4, 2006.
Religare has 10 trademark applications pending for registration under the provisions
of the Trade Marks Act, 1999 before the Trade Marks Registry, New Delhi. These
include applications for the trademarks LEO, ELEPHANT, HAWK EYE,
PANTHER, TORTOISE, CATERPILLAR, composite marks R-ACE (PRO),
R-ACE, R-ALLY, R-ACE (LITE), which are crucial to our business. Religare
currently do not has any registered trademarks.
13. Insurance:In compliance with requirements of the Indian stock exchanges, Religare maintains
stock brokers indemnity policies that provide coverage against incomplete
transactions and computer crimes. In addition, Religare maintains voluntary insurance
coverage against risks including loss of money, loss of electronic equipment, burglary,
general fire, damage and flood. Religare also maintain a floating medical insurance
policy for employees, as well as a directors and officers liability insurance policy,
which, however, does not provide coverage against certain risks including prior acts,
prior and pending litigation, insolvency and money laundering.
14. Properties:Religare operates businesses, including representative office in London (since 2006),
out of leased and rental properties. Religares registered and corporate office is also
located on leased property.
24
15. Employees:Religare employed approximately 4,500 full time employees as on March 31, 2007.
Religares employees are broadly categorized into seven departments: sales,
operations, technology, risk management, research, administration and support.
Religares employees are not unionized or covered by collective bargaining
agreements. Religare considers relationship with our employees to be good. Religares
Business Associates are third party entities and their staff members do not form part
of Religares payroll.
COMPETITORS
(i) Angel Broking
(ii) Motilal Oswal
(iii) Kotak Securities
(iv) ICICI Direct
(v) India Infoline
(i)
25
ANGEL BROKING:-
Angel Group has emerged as one of the top 3 retail broking houses in India.
Incorporated in 1987, it has memberships on BSE, NSE and the two leading
commodity exchanges in India i.e NCDEX & MCX. Angel is also registered as a
depository participant with CDSL.
Angels retail stock broking house offering a gamut of retail centric services.
Ebroking
Investment Advisory
Portfolio Management Services
Wealth Management Services
Commodity Trading
Trade In: BSE and NSE

Angel Trades Trading Platforms
Angel Broking offers five trading platforms to its customers.
1. Angel Diet:It is an application based trading platform where rates are updated automatically. All
segments are available on a single screen. This is ideal platform for the daily traders.
2. Angel Trade:It is a browser based trading platform for investors. The rates are updated
automatically. This platform is useful for investors & traders to access market from
different terminals.
3. Angel Investor:It is a browser based trading platform for investors. Its an easy online trading
platform accessible even behind proxy and firewall system set up.
4. Angel Lite:This platform allows to access and trade even on slow internet connection. This
platform provide facility to view live rates, last traded price % change of your stocks.
26
5. Angel Swift:This is a Mobile trading platform for mobile applications. Trading can be done on
Equity and Commodity Market using this platform.
Angel Trade Brokerage Charges 2014
1. Account opening fees:Stock trading account Rs 575/Demat account Rs 200/Commodity trading Rs 625/2. Brokerage:
If Initial margin cheque is more then 25,000

Intraday (Buy & Sell): Rs. 0.04% per trade*
Delivery (Buy & Sell): Rs. 0.40% par trade*
F&O (Buy & Sell): Rs. 0.04% par trade*
If Initial margin cheque is more then 50,000

Delivery (Buy & Sell): Rs. 0.30% per trade*
F&O (Buy & Sell): Rs. 0.03% per trade*
If Initial margin cheque is more then 1,00,000


27

(ii)
MOTILAL OSWAL:-
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.
Company 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.
28
Account Types
1. Value Pac:
Value Pac is the upfront subscription scheme, which gives significant discounts in
brokerage rates with defined time period to use it. With the wide range of Value Pacs,
based on the Volume of Trade and the Validity period one can enjoy the benefits of
placing trades at reduced charges.
2. Margin account:
Margin account is suitable for those who don't want to commit to a Value Pac (upfront
subscription). In Margin Account investor have to give defined upfront margin
amount at the time of opening the account.
Motilal Oswal Brokerage Charges 2014
Account Opening Fees & Annual maintenance charges (AMC)
Trading Account Opening Charges (One Time): Rs. 0
Trading Annual maintenance charges (AMC): -
Demat Account Opening Charges (One Time): -
Demat Account Annual Maintenance Charges (AMC): Rs. 441
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)
F&O Trades: 0.10%
Options Trades: Rs. 100/- per contract

(iii)
29
KOTAK SECURITIES:-
Incorporated in 1994, Kotak Securities is a full services broker part of popular India
based Kotak Mahindra Bank. The bank has over 1400 branches across India servicing
more than 8 lakh customers.
Kotak Securities Limited is among the largest traditional broker in India providing
wide range of investment options to its customers including Trading in Equity &
Derivatives, Investment in IPO's, Mutual Funds, Fixed Deposits, Bonds and many
more share market related investment products.
Kotak Sec is the member of BSE and NSE, the popular stock exchanges in India.
Company provides stock trading facilities though many ways including trading
terminal, website, mobile application, trading though branches and call & trade.
Like other tradition brokers in India, Kotak offers facility of Margin Finance, Margin
against Securities, Fundamental and Technical analysis, Research Reports & Tips,
SMS alerts and Portfolio Management Services (PMS).
Kotak Security is also the member of National Securities Depository Limited (NSDL)
and Central Depository Services Limited (CDSL) and provides its own depository
services to the customers.
The 3-in-1 account is the key offering of Kotak Securities. The Trinity Account [3 in 1
Account] offers the combination of broker account, bank account and a demat
account. All these accounts are linked together and work seamlessly to make stock
market investment very easy.
Kotak Securities's Trading Platforms
Kotak Securities offers multiple trading platforms to suite investor's requirement.
Following are the trading platforms available by Kotak Sec:
1. Website Based Trading A stock treading website which can be accessed
though any popular Web Browser. This is the most convenient and popular
way to invest with Kotak Securities. Kotak also offers a light weight trading
website 'Xtralite', which can be used by investors with slow speed internet.
2. Trading Terminals (KEATProX and FASTLANE) Kotak offers two different
trading terminal based application which are very popular among stock
traders. KEATProX is an exe based installable desktop application providing
fastest trading experience. FASTLANE is a Java applet based application
which gives you a trading terminal kind of experience without any installation
30
on your computer. FASTLANE gives KEATProX like features and the

benefits of website based trading as it can be access from anywhere though
web browser.
3. Mobile Stock Trading Kotak offers high speed mobile based application to
trade in Stock Market. Through this mobile app, a customer can Execute
Trades, Monitor Portfolio, View Streaming Quotes and Intraday Charts.
4. Branch Advisory and Call & Trade Kotak also offers trading facility though
its 1400+ branches and though call centers using call & trade facility.
Account Types
Kotak offers different account types according to users requirement:
1. AutoInvest
AutoInvest is a unique Online Trading Account which provide investment planning in
Gold ETFs (Exchange Traded Funds), Equities and Mutual Funds to their customers.
Gold ETFs are mutual fund schemes that will invest the money collected from their
investors in standard gold bullion.
Kotak's advisor gives the recommendation according to investor's risk capability and
investment plans. Minimum investment of Rs 5000 required for AutoInvest account.
2. Kotak Gateway
Kotak Gateway account opens the gateway to a world of investing opportunities for
beginners. Kotak Gateway user can trade anywhere, anytime using internet. Kotak
also offers call and trade facility. Investor can also trade Currency Derivative using
Kotal gateway account.
Kotak Securities provide SMS alert, research report, free news and market updates to
the account holders. Best feature of Kotak gateway is call and trade facility. Anybody
can activate Kotak Gateway account with any amount between Rs 20,000 to 5,
00,000. This can be in form of cash deposit or the value of the shares you buy.
Brokerage will be charged based on the account type. For intraday trading brokerage
is .06% both sides for less then 25 lakhs and .023% for more then 25 crores.
3. Kotak Privilege Circle
Kotak Privilege Circle is the premium investment account offed by Kotak Securities.
Along with Kotak Gateway account benefits Kotak provides independent market
31
expertise and support through a dedicated relationship manager and a dedicated

customer service desk which provides assistance in opening accounts, handling dayto-day problems, and more. They provides KEAT premium which is an exclusive
online tool that lets you monitor what is happening in the market and view your gains
and losses in real-time.
One can activate Kotak Privilege Circle account with any amount more than Rs.
10,00,000 as margin, by way of cash or stock. For intraday trading brokerage is .06%
both sides for less then 25 lakhs and .03% for more then 25 crores.
4. Kotak Freedom for Mutual Fund Investments.
5. Kotak Super Saver, a Flat Brokerage and a Low Margin account.
6. PMS (Portfolio Management Service), an account for people who need an
expert to help to manage their investments.
7. NRI Account, a online trading an investment account for NRI investors.
8. Trinity Account [3-in-1 Account]
Trinity Account is an integrated account that helps investors enjoy the benefits of a
Online Trading Account, Bank Account, Demat Account on a single platform for your
securities transaction. This account gives convenience of fund transfer and online
trading.
Kotak
Securities
Brokerage Charges 2014

Account opening fees:
Trading
Account
Opening
Charges
(One
Time):
750
Trading Annual maintenance charges (AMC): Rs 0
Demat Account Opening Charges (One Time): -
Demat Account Annual Maintenance Charges (AMC): Rs 600 per annum
Trading Brokerages:
32
Rs
Kotak Gateway (Fixed Brokerage) (* All charges are on both sides)
Futures Trades: 0.049%
Options Trades: Rs. 100/- per lot or 1% on premium which ever is higher
Kotak Gateway (Variable Brokerage) (* All charges are on both sides)

Delivery Based Trades Brokerages: 0.59% to 0.18% (For trading amount of '<
1lakh' to '> 2 crore')

Intra-day Trades Brokerages: 0.06% to 0.03% both sides (For trading amount
of '< 25 lakhs' to '> 5 crore')

F&O Trades Brokerages (Intraday): 0.07% to 0.023% both sides (For trading
amount of '< 2 crores' to '> 25 crores')

F&O Trades Brokerages (Settlement): 0.09% to 0.032% both sides (For
trading amount of '< 2 crores' to '> 25 crores')

Options Trades: Rs. 100/- per lot
Kotak Securities Demat Account Charges

Sr Account Head
Rate
Minimum Payable
Rs.50/- per request and Rs.3/1 Dematerialisation
-per certificate
2 Rematerialisation
Rs.10/- for 100 shares
Rs. 15/0.04% of the value of securities
Debit Transactions - On
Rs. 27/- (Plus NSDL
3
(Plus NSDL charges as
Market and Off Market
charges as applicable)
applicable)
Account
Maintenance
4
Charges
Resident Indian
Rs. 50/-per month
Rs. 75/-per month
--
NRI
5 Pledge Charges
0.05% of the value of securities Rs. 30/6 Invocation of Pledge
0.04% of the value of securities Rs. 30/Charge for Client Master
7
Rs.25/change intimation
Useful Articles:
33
The Best 3-in-1 Trading Account in India Stock Market - ICICI Bank,
HDFC Bank, SBI, Kotak Securities etc
Know about Flat Fee Share Brokers in India (Also known as budget
broker or discount broker).
(iv)
ICICI DIRECT:-
ICICI direct 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.
ICICIDirect.com 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.
ICICIdirect.com 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.
Trades In: BSE and NSE
ICICIDirect's Trading Platforms
ICICIDirect offers 2 trading platforms to its customers:
34
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.
ICICIDirect.com 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 2014
Trading Account Opening Charges (One Time): Rs. 975
Trading Annual maintenance charges (AMC): Rs 0
latest brokerage information on ICICIDirect website.
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)
Other Demat Service Charges & Fees
ICICI offers 2 types of brokerage plans to its customer:

1. I-Secure Plan (Flat brokerage Plan)
This plan offers Flat Brokerage (in %) irrespective of turnover value. This plan is
suitable for traders / investors looking at secured and fixed brokerage.
2. I-Saver Plan (Variable brokerage plan)
35
This plan offers brokerage based on the trading volume i.e. high brokerage for low
volume and low brokerage for high volume trades. This plan suitable for traders /
investors who trade in high volumes and can benefit from low brokerage.
ICICIDirect Brokerage in Cash
I - Saver Plan
I - Secure Plan
Total Eligible
Effective
Total
Eligible
Turnover (Per Brokerage Brokerage on Turnover

calendar
(%)
Quarter)
Above Rs. 5
Crores
Rs.2 Crores to
5 Crores
Rs.1 Crores to
2 Crores
Rs.50
Lakhs
to 1 Crores
Rs.25
Lakhs
to 50 Lakhs
Rs.10
Lakhs
to 25 Lakhs
Less
Intraday
calendar
Squareoff
Quarter)
0.25
0.125%
0.30
0.150%
0.35
0.175%
0.45
0.225%
0.55
0.275%
0.70
0.350%
Irrespective
turnover
Effective
(Per Brokerage Brokerage on

(%)
Intraday
Squareoff
of
0.55
0.275%
than
0.75
0.375%
Rs.10 Lakhs
ICICIDirect Brokerage in Future & Future Plus
For Equity/Currency Futures

I - Saver Plan/I Secure
Total Eligible Turnover
per month
Above Rs. 20 Crores
Rs.10
Crores
36
Crores
to
20
Brokerage
(%)
Equity
Future
Future Plus
and
Currency Futures
Brokerage on Second Brokerage on Second

leg of Intraday square leg of Intraday square
off (per lot)
off (per lot)
0.030
Rs.15/-
Rs.10/-
0.035
Rs.15/-
Rs.10/-
Rs.5
Crores
to
10
Rs.15/-
Rs.10/-
Less than Rs.5 Crores 0.050

Rs.15/ICICI Brokerage in Margin & Margin Plus
Rs.10/-
Crores
0.040
I - Saver Plan / I - Secure Plan

Total Eligible Turnover per month Brokerage (%)
Above Rs. 20 Crores
0.030
Rs.10 Crores to 20 Crores
0.035
Rs.5 Crores to 10 Crores
0.040
Less than Rs.5 Crores
0.050
ICICI Direct Brokerage in Options

I - Saver Plan / I - Secure Plan
Brokerage in Options Total Flat
brokerage
per Brokerage on Second leg of
Eligible Lots per month
contract lot (Rs.)
Intraday square off (per lot)
Above 600
65/-
Rs.15/-
301-600
70/-
Rs.15/-
151-300
75/-
Rs.15/-
61-150
85/-
Rs.15/-
0-60
95/-
Rs.15/-
Depository Service Charges

For Resident Retail Customers and Corporates
Particulars
Charges
Account Opening
Nil
First Year AMC
Nil
Annual Maintenance Charges

Buy - Market and Off-Market
Rs 600 (Rs 500 for customers

receiving e-mail statements)
Nil
Max.
Rs
500
for
debt
Sell - Market and Off-Market and Redemption of instruments

MF units (% of transaction value of each ISIN)
Nil
for
Trades
done
on
www.icicidirect.com
Instruction submitted through Internet (E-inst / IVR)
Instruction submitted through Call Centre
37
0.04% (Min. Rs 25 and Max. Rs

25,000)
25,000)
Instruction submitted at Branches
25,000)
Rejection / fails
Rs 30
Extra charges for processing of TIFDs submitted

late
(%
of
transaction
value)
Nil
Instruction submitted through Internet (E-inst / IVR)

Instruction submitted through Call Centre
Instruction submitted at Branches (accepted at
Client's risk)
Nil
Rs 10 per ISIN
Dematerialisation for each request form
Rs 50
Dematerialisation for each extra certificate
Rs 3
Rs
25
for
securities
every
hundred
or
part
thereof, subject to maximum fee
Rematerialisation
of
Rs
3,00,000
or
a flat fee of Rs 25 per certificate,

whichever is higher.
Reconversion of MF units
Rs 25 per instruction
Closure of Account
Nil
Pledge Creation/Closure/Confirmation/ Invocation

(% of value for each ISIN in each request)
If, ICICI Bank is counter party

25,000)
If, ICICI Bank is not counter party
25,000)
Additional Account Statements
Rs 20
NSDL Charges
Particulars
Annual Maintenance Fee for Corporate
Account
Charges
Rs 500 p.a. (w.e.f October 1, 2013)
Rs 4.50 per debit instruction (Nil for
Sell - Market and Off-Market
commercial
and short-term debt instruments)
38
paper
Reconversion of MF units into SoA

Redemption of MF units through
Participants
Rs 10 per instruction (w.e.f April 1, 2014)

Rs 4.50 per instruction (w.e.f April 1, 2014)
A fee of Rs 10 for every hundred securities or
part
thereof, subject to maximum fee of Rs
Remat
5,00,000
or
flat
fee of Rs 10 per certificate, whichever is

higher.
Pledge Creation
(v)
Rs 25 per instruction
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)
39
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 2014
Account Opening Fees & Annual maintenance charges (AMC)
Trading Account Opening Charges (One Time): Rs 750
Trading Annual maintenance charges (AMC): -
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%
Options Trades: 1% of Premium or Rs 100 per lot whichever is higher.
Minimum Per Share Brokerage: Rs 0.05
Auction Brokerage: 1.00%
VAS SMS Facility: Rs 249 per month
VISION, MISSION AND BRAND ESSENCE
Vision:To build Religare as a globally trusted brand in the financial services domain
and present it as the Investment Gateway of India.
Mission:-
40
Providing complete financial care driven by the core values of diligence and
transparency.
Brand Essence:Core brand essence is Diligence and Religare is driven by ethical and dynamic
processes for wealth creation.
2. REVIEW OF LITERATURE
Stock-broking service, a branch of financial services sector, is undergoing rapid
changes. The changes that are taking place in the financial services sector are
reverberated in the stock market also. The practices and techniques adopted and found
to be successful in other stock markets are being implemented in the Indian Stock
Market also. Some of the practices and techniques thus implemented are screen based
trading, dematerialisation of share certificates, options and fuiures trading, Automatic
Lending and Buying Mechanism (ALBM), rolling settlement, etc. A number of
learned writers have expressed their opinion about the recent trends and practices
adopted in the Indian Stock Market. The difficulties and problems experienced by
brokers are also highlighted by many writers. A brief review of their ideas, thoughts
and comments are narrated in this chapter.
Indicating a strong sentiment against speculation in the stock market, Vijayaraghavan
R (1992) suggests that the exchanges should adopt as quickly as possible uniform
settlement system so that wide price variations across exchanges can be avoided and
41
the ordinary investor afforded protection from violent price swings. Further, he adds
that the stock exchanges should work towards a shorter settlement period, which
would tone up market efficiency and ensure that payment and deliveries art. made in
time.'
Rajiv Handa (1995) makes a comparison of practices in developed markets and
developing markets. He says, "It is in the developed markets of the West that business
trends, trade cycles and a host of other factors are taken care of by computers and
forecasting models. This information is backed by decades of diligently stored data
which is updated by continuous release of contemporary information by the listed
companies". He further states that the situation back home is materially different and
the company reports are available six months after the year ends which lose relevance
by the time they are analysed.
Louis K.K. (1996), Senior Programmer, Cochin Stock Exchange, speaks about the
in~plementation of screen based trading at the CSE. "Our mission is to develop
Cochin Stock Exchange as a modern stock exchange which will help capital
formation for industrial development of India by providing issuers, national and
foreign investors with fair, secure and efficient market place. We will achieve this
through novel modernisation measures, sound trading and settlement systems,
modernisation of operations, transparency of business, professionally qualified and
extremely dedicated team for better regulation of trading; and ensuring investors'
care". He concludes his presentation with the remark that the CSE would become a
high-tech model stock exchange at par with international counterparts
Pointing out the difficulties of the stock-broking profession, Krishna kumar P.K.
(1998) speaks about brokers in the Cochin Stock Exchange, "Faced with a shrinking
primary market, and a slothful secondary market the brokers in the Cochin Stock
Exchange are fighting with their backs to the wall. It is a dismal scenario. Several
brokers have called it quits. Some have shifted to other jobs. A few are thinking of
merging to become a corporate entity". He further adds that brokerage has taken a
beating and with client support having dried off, the brokers are left with speculative
business.
42
Tomy Varghese (1999) makes a study on individual investors in the capital market in
Keral;~. On professional competence he states that brokers are not well infor ned. His
survey reveals, "53 percent of investors feel that brokers are not honest and about 83
per cent have experienced delay in payments. However, the majority of the investors
(74 per cent) consider that brokers are helpful".
Vijay P.N. (2000), a Delhi based investment banker speaks about the impact of
Internet based trading on stockbrokers. He says that the losers are really going to be
stockbrokers and information providers. We have already seen how screen based
trading reduced brokerage from up to 2 percent a few years ago to less than 0.5 per
cent now. When Internet based trading gets fully under way a stockbroker may get
totally disintermediated. The same might be the case with database companies, which
ask us to pay for information.
Narasimhan C.R.L. (2001) is of the view that the recent measures announced by the
Finance Minister in the Rajya Sabha to correct the malfunctioning of the stock
market, namely: (a) Corporatisation of all stock (exchanges, (b) extension of the
rolling settlement for 200 category A stocks and (c) greater powers to the SEBI, did
not make any immediate inpression on the stock prices. He further points out that
such major initiatives are announced only in the face of a market crisis.
43
3.OBJECTIVES
Primary Objective:
To Study client facing Marketing Efforts of various brokers.
Secondary Objective:
To Review the Sales pitch and Value Proposition offered by different brokers
for their franchise and recommend changes in Religares Value Proposition.
To study various financial products like Equity, Mutual Funds, Commodity&
Portfolio Management Services.
To Study the various services provided by Broker house to there clients.
To know investors experience in capital market.
To study what other services investors expect from their broker house.
44
4.RESEARCH METHODOLOGY
RESEARCH
The study of research method provides you with the knowledge and skills you need to
solve the problem and meet the challenges of the fast- based decision. Marketing
environment we define Business Research as a systematic inquiry whose objective is
to provide information to solve managerial problem. It seeks to find explanation to
unexplored phenomena to clarify the doubtful facts and to correct the
misconceived facts
DESCRIPTIVE RESEARCH DESIGN
The research design adopted in this study is Descriptive Research Design.
A descriptive research design is the one which is description of the state of affairs as it
exists at present. It includes survey and fact finding enquiries of different kinds. The
researcher has no control over the variables. The researcher used this research design
to find out the respondents attitude and opinion about ULIP policies offered.
SAMPLING DESIGN
A sample design is a definite plan for obtaining a sample from a given population. It
refers to the techniques or procedures the researcher would adopt in selecting items
for the sample.
CONVENIENCE SAMPLING
The researcher adopted convenience sampling. It is the non probability sampling is
that sampling procedures does not any basis for estimating the probability that each
item in the population has of included in the sample. The researcher selects the people
according to their convenient.
SAMPLE SIZE
45
A sample of five brokers of other stock broking firms was taken for the survey. The
required data collected through questionnaire.
SAMPLE DESIGN
DETAILS OF THE SURVEY CONDUCTED
Sample Size
Brokers of other five stock broking firms
Target Population
20-30 years
30-40 years
40-50 years
50 above
Location
Greater Noida, West Delhi
Type of Questionniare
Structured
No. of Questions Involved
20
DATA COLLECTION
The information required for our project was collect mainly from the primary sources
and even from secondary sources. The primary source consists of the data analyzed
from questionnaire and interaction with the user at that time only. And internet is used
as secondary source.
DATA COLLECTION METHOD
Data is collected through questionnaire schedule method.
It means the investigators are trained to collect the information required for an
enquiry through schedule. The trained investigators meet the people concerned and
fill up the schedules with the information supplied by them.
LIMITATIONS
46
Time limitation
Research has been done only in Delhi.
Companies did not disclose their secrets data and strategies.
Possibility of Error in data collection.
Possibility of Error in analysis of data due to small sample size.
DATA ANALYSIS AND INTERPRETATION

There are a number of broking firms to choose from, in the market available today. It
has been observed that the broking firms have both competitive offerings and pricing
for the customers. Below are the offerings provided by the broking firms to the
customers :
Online trading
Offline trading
Reports
-Mode
-Frequency
Promotional offers and schemes
Other financial services
Flexible brokerage plans
Margin
Trading account fees
Customer services
Other charges
The above services are provided by a number of competitive broking firms. A few of
them are listed below:
Religare
Angel Broking
Motilal Oswal
ICICI Direct
Kotak Securities
India Infoline
1. Online Trading: The use of online trades has increased the number of
discount brokerages because internet trading allows many brokers to further
47
cut costs and part of the savings can be past on to customers in the form of
lower
commissions.
Another benefit of online trading is the improvement in the speed of

which transactions can be executed and settled, because there is no
need for paper-based documents to be copied, filed and entered
into an electronic format.
2. Offline Trading: Offline trading means purchasing shares from broker

houses from dealer the order can be done by phone.
In offline trading, clients who cannot trade online they can trade offline easily
by calling their Relationship Manager (RM). All the broking firms provides
facility of offline trading, with this clients can call their relationship manager
for trading but some broking firms charge call-n-trade fees from clients.
3. Software offered for Online Trading:- Trading platform provided by
Religare
for online trading is ODIN, Angel Broking
provides Angel Speed Pro, Angel Swift, Angel Grade, Motilal Oswal
provides Lite Web for online Trading, Kotak Securities provides Keat Pro
X, ICCI Direct provides Trade Racer and India Infoline provides IT and
TT software for online trading.
CLIENT SERVICING
Statement 1: Products and services provided by different Broking
Firms.
Products and Services: Products and services provided by these
broking firms are almost same. For example, these broking firms
provides equity, commodities, derivatives, portfolio management
services etc.
48
Statement 2: Number of accounts offered by Broking Firms.
Figure 2: Number of accounts offered by different broking firms to its clients.
Interpretation: The above graph shows that different broking firms offers different
accounts to its clients like 1)Religare offers three types of accounts to its clients i.e RACE, R-ACE Lite and R-ACE Pro, 2)Angel Broking offers one account i.e Angel
Diet, 3)Motilal Oswal offers two types of accounts i.e Value Pac and Margin Account,
49
4)Kotak Securities offers one account i.e Kotak Gateway, 5) ICICI Direct offers 3-in1 account and 6) India Infoline offers R-Fixed account to its clients.
Statement 3: In which Mode and Frequency Reports are provided by

broking firms.
Different broking firms provides Reports to its clients Ad-hoc, quarterly and on
monthly basis. These reports includes Research Reports, Intra Day Reports etc.
3.1. Mode:-
Figure.3.1: Reports offered by different broking firms to its clients in different

modes.
Interpretation: The above graph shows that different broking firms offers
different Reports in different modes to its clients like 1) Religare offers reports
both in electronic and print mode. 2)Angel Broking offers reports only in
electronic mode. 3) Motilal Oswal offers reports in both modes. 4) Kotak
Securities and 5) ICICI Direct offers reports in both modes. 6) India Infoline
offers reports in both modes.
50
3.2. Frequency:-
Figure 3.2: Frequency in which reports are provided by different broking firms to
its client
Interpretation: The above graph shows that different broking firms offers
different Reports in different frequency to its clients like 1) Religare provides
reports ad-hoc and quaterly, 2)Angel Broking provides reports ad-hoc and
quaterly 3) Motilal Oswal provides reports ad-hoc and by default. 4) Kotak
Securities and 5) ICICI Direct provides reports ad-hoc and by default. 6) India
Infoline provides reports ad-hoc and by default to its clients.
51
Statement 4: Minimum Margin charged by Broking firms.
Figure 4. Minimum Margin charged by different broking firms to its clients.
Interpretation: The above graph shows that different broking firms charges
minimum Margin to its clients like 1) Margin of Religare is Rs.10,000, 2) Margin of
Angel Broking is Rs. 25,000, 3)Margin of Motilal Oswal is Rs. 10,000, 4) Margin of
Kotak Securities is Rs. 10,000, 5) Margin of ICICI Direct is Rs. 5000 for saving and
demat account and 6) Margin of India Infoline is Rs. 10,000.
52
Statement 5. Brokerage charged by Broking firms.
Figure 5. Brokerage charged by different broking firms on delivery based trading to

its clients.
Interpretation: The above graph shows that different broking firms charges different
brokerage to its clients like 1) Religare charges Brokerage = 0.03p 0.30p, 2) Angel
Broking charges Brokerage = 0.04p 0.40p, 3) Motilal Oswal charges Brokerage =
0.04p 0.40p, 4) Kotak Securities charges Brokerage = 0.05p 0.50p, 5) ICICI
Direct charges Brokerage = 0.03p 0.30p and 6) India Infoline charges Brokerage =
0.05p 0.50p to its clients.
53
Statement 6: Trading Account Fees charged by Broking Firms.

Figure 6. Trading account opening fees charged by different broking firms to its
clients.
Interpretation: The above graph shows that different broking firms charges
different Trading account opening fees to its clients like 1) Religare charges Zero
Trading account opening fees, 2) Angel Broking charges Zero Trading account
opening fees, 3) Motilal Oswal charges Zero Trading account opening fees, 4)
Kotak Securities charges Rs.750 for trading account opening, 5) ICICI Direct
charges Rs. 975 for Trading account opening and 6) India Infoline charges Rs. 750
for Trading account opening to its clients.
54
Statement 7: Demat Account Opening Fees charged by Broking

Firms.
Figure 7. Demat account opening fees charged by different broking firms.
Demat account opening fees to its clients like 1) Religare charges Zero Demat account
opening fees, 2) Angel Broking charges Rs. 200 Demat account opening fees, 3)
Motilal Oswal charges Zero Demat account opening fees, 4) Kotak Securities charges
Zero Demat account opening, 5) ICICI Direct charges Rs. 100 for Demat account
opening and 6) India Infoline charges Rs. 555 for Demat account opening to its
clients.
55
Statement 8: Demat account AMC Annual Maintainence Charges

of Broking Firms.
Figure 1. Demat account Annual maintainence fees charged by different broking

firms.
Demat account Annual Maintainence charges (AMC) to its clients like 1) Religare
charges Rs. 300 for Demat account AMC, 2) Angel Broking charges Zero Demat
account AMC, 3) Motilal Oswal charges Rs. 441 Demat account AMC, 4) Kotak
Securities charges Rs.600 for Demat account AMC, 5) ICICI Direct charges Rs. 500
for Demat account AMC and 6) India Infoline charges Rs. 300 for Demat account
AMC to its clients.
56
Statement 9: Other Financial services provided by Broking Firms

besides broking.
Figure 2. Other financial services provided by different firms besides broking.
Interpretation: The above graph shows that different broking firms offers different
other Financial Besides Broking like 1) Religare provides Life Insurance, Health, Art
Initiatives, Finvest, other 7 Financial Services besides broking including these, 2)
Angel Broking provides Birla Life Insurance, Children Life Insurance besides
broking, 3)Motilal Oswal provides no other financial services besides broking, 4)
Kotak Securities provides no other financial services besides broking, 5) ICICI Direct
provides Life Insurance, General Insurance and Home Loan etc besides broking and
6) India Infoline provides Life Insurance and Health Insurance besides broking.
57
Statement 10: Number of Clients of Broking Firms.
Figure 10. Number of clients of different broking firm across india (approx.)
Interpretation: The above graph shows that clients of different broking firms across
india. 1) Clients of Religare is more than 8,50,000 across india, 2) Clients of Angel
Broking is near about 6,00,000 across india, 3) Clients of Motilal Oswal is 8,00,385
approx. 4) Clients of Kotak Securities is near about 8,00,000, 5) Clients of ICICI
Direct is 20,00,000 including Bank customers and 6) Clients of India Infoline is
7,00,000 approx.
FRANCHISEE
58
Statement 1: Number of Franchisees of Broking Firms.
Figure 1. Number of franchisee's of different broking firms across india.
Interpretation: The above graph shows number of franchisees of different broking

firms. 1) Number of franchisee outlets of Religare Securities is more than 1500. 2)
Number of franchisee outlets of Angel Broking is more than 1400. 3) Number of
franchisee outlets of Motilal Oswal is near about 1400. 4) Number of franchisee
outlets of Kotak Securities is 1255. 5) Number of franchisee outlets of ICIC Direct is
1050. And 6) Number of franchisee outlets of India Infoline is more than 1250.
59
Statement 2: Franchisee Security Deposit/Fee of Broking Firms.
Figure 2. Security deposit fee of franchisee of different broking firms.
Interpretation: The above graph shows the security deposit fee of franchisee of
different broking firms. 1) Security deposit fee of Religare Securities is Rs. 2,50,000.
2) Security deposit fee of Angel Broking is Rs. 1,00,000. 3) Security deposit fee of
Motilal Oswal is Rs. 1,00,000. 4) Security deposit fee of Kotak Securities is Rs.
3,00,000. 5) Security Deposit fee of ICICI Direct is Rs. 3,00,000. And 6) Security
deposit fee of India Infoline is Rs. 2,00,000.
60
Statement 3: Revenue Sharing Percentage to BPs (Business

Partners).
Figure 3. The above figure shows revenue sharing percentage to business partners.
Interpretation: The above graph shows the Revenue Sharing Percentage to Business
Partners. 1) Revenue sharing ratio of Religare Securities is 80 : 20. 2) Revenue
sharing ratio of Angel Broking is 80 : 20. 3) Revenue sharing Ratio of Motilal Oswal
is 70 : 30. 4) Revenue sharing ratio of Kotak Securities is 60 : 40. 5) Revenue sharing
ratio of ICICI Direct is 70 : 30. And 6) Revenue sharing ratio of India Infoline is 70 :
30.
Statement 4: Supports and Services provided by Broking Firms to its

Franchisee.
61
Figure 4. Different types of supports and services provided by different broking firms
to its BP's.
Interpretation: The above graph shows the types of supports and services provided
by different broking firms to its BPs it includes research reports, I.T supports etc. 1)
Religare provides five types of supports and services to its BPs. 2) Angel Broking
provides three types of supports. 3) Motilal Oswal provides four types of supports. 4)
Kotak Securities provides four types of supports. 5) ICICI Direct provides three types
of supports. And 6) India Infoline provides Four types of Supports to its BPs.
Statement
5:
Other
Services
provided
by
Broking
Firms.
Other services or value proposition related to franchisee or which is provided to BPs.
Sales Person to Lead: All Broking firms does not provide sales
person to lead.
62
Intial and Marketing Material: Kotak Securities charges some extra

cost for providing marketing material in future. But all other broking
firms like Religare, Angel Broking, Motilal Oswal, ICICI Direct and
India Infoline provides marketing material at no additional cost.

Motivating BPs for acquiring more clients: All Broking firms
provides promotional offers and schemes to their BPs for motivating
them to acquire more clients.

Incentives: Incentives are given all these broking firms are on monthly
basis, which is based on targeted number of clients acquired by the
BPs.
Communication Media: All Broking firms uses Electronic medium to
provide reports etc to its BPs like through E-mails, PDF, Letters etc.
6.FINDINGS
In this survey questionnaires are filled from brokers of six brokerage houses where
clients sit on the terminal & trade in the stocks. As the data collected shows that
people who mostly invest in the market are businessmen & service class person who
dont have enough time to keep continuous watch on the market fluctuation so they
63
need regular assistance from their relationship manager who is assigned to them so
every company is suggested to enforce their relationship managers to stay in contact
with their clients. As technology increases most of the people have less time to spend
on the other activities than their core business so most of the clients prefer online
trading so they can put their bids whenever they want as 24*7. In the case of online
trading clients are not need to be provided any kind of assistance from their
relationship manager but if the dedicated relationship manager provide them a good
assistance can put that relationship manager & that organization apart from their
competitors. But even after the presence of internet some people like to trade through
offline mode reasons might be lack of knowledge or cost sensitive as offline product
is used to being at lower cost so here in offline that dedicated relationship manager
has to be in contact with his client. And different broking firms offers many services
to its clients and supports to its BPs. Some broking firms offers materials and other
services at additional costs and some broking firms charges no additional costs for
services and future marketing materials.
There are less sales promotion offers which are provided to clients and BPs in
different broking firms like Kotak securities and Angel broking etc.
Mobile apps are not that much flexible in Religare and other firms.
There are less integrated financial services.
It is found that its easy for ICICI Direct to acquire more clients in broking by
converting their banking customers into trading clients.

Broking firms like Religare Securities charges less brokerage as compare to
Kotak Securities and Angel Broking.

Kotak Securities provides future marketing material to its BPs at some
additional cost.
Religare enjoys good brand name as compare to other broking firms.
Sales experience of franchisee development managers is less in some broking
firms.
Religare offers less TAT (Turn around time).
64
7.CONCLUSION
On the basis of the study it is found that Religare securities is better service provider
than the other associations because of their timely research and personalized advice
on what stocks to buy and sell. It provides the information through the Internet and
mobile alerts as to what IPOs are coming in the markets and it also provides
its research on the future prospects of the IPO.
65
Study also concludes that people are not much aware of commodity market and while
its going to be biggest market in India. From the above survey and observation it is
found that most of the people who trade in share market belong to the employee
group. Next comes the businessmen, and other class of income people. As the share
market value goes on increasing day by day, the number of investors who want to
invest in shares also increases. Online trading with Religare Securities, facilitated by
ODIN software is so smooth and convenient that within a few minutes the customers
can buy and sell shares which saves time as well as efforts. In case if a customer is not
able to trade online, he / she can trade offline through a dedicated Relationship
Manager at Religare Securities. Hence, owing to many factors such as minimum
response time, careful and timely handling of queries and an overall satisfying
customer experience, Religare Securities is one of the most preferred stock broking
firms in its segment.
Therefore, from the above, it is inferred that the needs of customers differ from person
to person, areas, locality and occupation. Customers always look for a value for
money experience and Religare securities offers just that.
7.1.RECOMMENDATIONS
On the basis of these findings and analysis, It has can be surely said that in
stock broking industry, differentiation can become the key to higher revenues. Better
service, straight through processing(STP), immediate execution, portfolio services,
,investment advisors and telephone call centers or branch investment offices are
needed to retain customers and to increase the revenue base. As more number
of people will get comfortable with internet/technology, broking (especially
online broking) will have a completely new meaning with more fringes coming into
66
the picture and more firms will offer umbrella services to their clients. Thus more
of strategies should be undertaken.
VALUE PROPOSITION
Client:
More sales promotion offers should be provided to the clients.
Brand visibility should be increased by increasing digital marketing.
Services can also be improved like

Lower TAT (Turn around time)
Online chat can be more flexible.
Improvements can be made in commodity and currency like by

Educating investors (Investor Education)
Initiative with exchange.
Trade on go app. And UT can be improved. This app is available on iphone also.
Franchisee:
Marketing efforts needs to be ramped up.
Sales experience needs to be improved.
Material kit which is given to BPs can be improved.
Improve value proposition and promote ideas of integrated financial services.
Other:
Providing better plans and schemes than our competitors like Angel Broking,
Kotak securities, Motilal Oswal, India Infoline and ICICI direct are providing
in terms of brokerage and subscription.
Formulation of more corporate schemes for employees of organizations falling

under Religares corporate category.
67
Associating Religare with Ranbaxy to make it a power brand.
Taking Religare from the brand recognition stage to brand insistence stage.
Religare should make its brokerage structure more flexible to give a good
competition to the investors
Some more collaboration with international firms and increasing its outlets not
only in India but also outside the world.
There should be more banners posters pamphlets distribution in the market to

increase the awareness level among the people.
Timely release of Brokerage & Fast redressed of clients grievance is a major

plus if Religare is looking to develop long term relationship with its clients
It should provide regular and update market information.
Services should be more efficiently delivered to the prospective clients

in order to develop a long term relationship with the clients.
Religare securities should enhance the customer care department where

queries can be timely solved.
REFERENCES
1. www.religareonline.com
2. www.chittogarh.com
3. www.religareenterprises.com
68
ANNEXURE
A) QUESTIONNAIRE
QUESTIONS TO ASK A BROKER

(AS A CLIENT)
Q.1 What products & services does your firm offer?
69
Q.2 Which types of accounts offered by broking firms?

Q.3 How frequently do you provide reports to clients and in which mode?
Mode?
Frequency?
-Electronic or
-Quartely or
-Print
-Ad-hoc. (whenever I need)
Q.4 How much margin does your firm charge?

Q.5 How much brokerage does your firm charge?
Q.6 How much trading account fees does your firm charge?
Q.7 How much demat account opening fees does your firm charge?
Q.8 How much demat annual maintainence charges does your firm charge?
Q.9 Besides broking which financial services you provide like insurance etc?
Q.10 How much clients are trading with your broking firm?
QUESTIONS TO ASK A BROKER

(AS A FRANCHISE)
Q.1 How many total franchises are in the network?
Q.2 How much is the franchise security deposit? If any?
Q.3 What will be the revenue sharing ratio?
Q.4 What services and supports you provide to the franchise?
Q.5 What other services provided by your broking firm to its franchise?
70

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1.

ACTIVITIES OF RELIGARE ENTERPRISES LIMITED

Religare Securities Limited

Religare Finvest Limited

Religare Commodities Limited

Religare Insurance Broking Limited

Religare Capital Markets Limited

Religare Arts Initiative Limited

Religare Realty Limited

Religare Venture Capital Limited

Religare Hichens Harrison

Religare Asset Management

1.2 NAME AND SYMBOL

For us, each leaf of the clover

WHY CUSTOMER TRADE WITH RELIGARE?

Dedicated dealers for facilitating trading and post trade needs.Dedicated

2 Research & Advisory

Regular news and updates on market

companies.Complete reports on various economic sectors and their performance

(i) Interest on Cash Margin

(ii) 360 degree Investment Portal

4. How do I redeem my reward points?

RELIGARE AREAS OF OPERATION

RELIGARE SECURITIES LTD

Major activities and offerings of the company include equity broking

offline and online, depository participant services, portfolio management

Empanelment with 81 institutions including 20 mutual funds, 10

ramp up of equity trading client accounts

Received in principal approval from SEBI to act as a sponsor of Asset

Religare Securities Limited (RSL)I

Research, Investment Banking and Corporate Finance. RSL is a member of the

all industry standard Treading terminal features including technical

(iii) Trump Account

Religare gives interest on unutilized cash when investor is waiting to make

They provide intraday reports and historical charting.

Lifetime free DP account.

Varity of fee structure to fulfill need of different type of investors.

4.5. Equity Broking and Online Trading

SWOT ANALYSIS:(i) Strengths

Strong corporate relationship with its promoter RANBAXY

Collaborations with highly reputed international companies AEGON and

Provides transparency to clients

Highly qualified research team

No satisfactory Brand awareness and no Brand recall value

In case of intraday the order is automatically squared off at 3.10 pm

The growing interest of people in the stock market

Indian stock market story going strong

Competition from major players like ICICIDIRECT, SHAREKHAN,INDIA

The downfall in the stock market.

58 equity trading customers for

(i) Risk Management Process

Client-Level Risk Management:

Scrip-Level Risk management:

Religare uses internal scrip-based margining, which is based on various parameters

Company-Level Risk management:

Technology is optimised internally to implement established risk policies, create and

12. Intellectual Property:-

Portfolio Management Services

Wealth Management Services

Trade In: BSE and NSE

If Initial margin cheque is more then 25,000

If Initial margin cheque is more then 50,000