Вы находитесь на странице: 1из 85


Research Project Report




Submitted to the MBA Department in Partial

fulfillment of the Requirement for the degree of
Masters of Business Administration
Session 2013-2015


U.P.T.U , Lucknow

Sachin Kumar Sharma

M.B.A. IV Sem
Roll No. 1306870083

Meerut Institute of Engineering &

NH. 58 Baghpat Bypass, Road Meerut U.P.

I SACHIN KUMAR SHARAMA student of MBA IVth Semester of MIET, Dr. Sandeep
Kapoor hereby declare that the project report on STOCK MOVES IN A RANDOM
PATTERN IN A EMPIRICAL STUDY, is an original and authenticated work done by me. I
further declare that it has not been submitted else where by any other person in any of the
university for the award of any degree of diploma.


Sachin Kumar Sharma

M.B.A. IV Sem
Roll No. 1306870083

Faculty Guide
Dr. Sandeep Kapoor


I express my sincerest gratitude and thanks to Mr, Om Prakash Prabhakar (Assistant Manager),
for whose kindness I had the precious opportunity of attaining research project at Sharekhan.
Under his brilliant untiring guidance I could complete the Project being undertaken on the
time. His meticulous attention and invaluable suggestions have helped me in simplifying the
problem involved in the work. I would also like to thank the overwhelming support of all the
people who gave me an opportunity to learn and gain knowledge about the various aspects of the
I would like to thanks to Mr. Kavish Sharma faculty of M.B.A of SBBIT for their constant
enthusiastic encouragement and valuable suggestions without which this project would not been
successfully completed.

Sachin Kumar Sharma

M.B.A. IV Sem
Roll No. 1306870083

This project is all about the stock market and their features. It presents the stock market indices,
trading technology and term of trade in stock market.
In this research project showing the various indices and stock exchange work in stock market.
The project is being done about the whole procedure essential to open an online trading account
couple with demat account.
The project will help in exploring the area where there is the feasibility of acquiring more new
It would also help in knowing the various perception of client that how much they satisfied with
the services of sharekhan and their brokerage.
The Indian scenario has been evaluated considering the facts like, players in the market,
advantages, draw-backs, connectivity hazards. Still, in due course of time, Indian online share
trading will be able to find its hold; there is no doubt about that.
Beside this we all got the chance to trap the derivative market in Indian share market, through
which we got to know how the margins are booked in real terms in the share market.
We also got the chance to get familiar with. how the d/p account of a customers maintained by
company in which we got the knowledge of calculation of brokerages, maintenance charges of
that d/p account as well as the working of NSDL,CDSL,NSCCL etc
The report is divided into various sections..

1. Company Profile:

This part describes the company profile. This part recognizes the achievements and
rewards the company has achieved, it also gives little insights into what company
offers to the Corporate and the Consumers. This section also describes the kind of
technology used.

2. About Online trading account

Since the project leads to opening of online trading account, this section gives the
details of what all services Sharekhan offers to the consumer. This section gives the
detail of how different services provided by the others online trading account and
how is Sharekhan superior from them.

3. Procedures and requirement for opening an Trading cum demat

This section gives the detail of the different conditions that have to be met for
opening an trading cum demat account. The section contains the documents, which
is required to open an account.

Chapter 1-Introduction of stock market

Stock basics
Different types of stock
Stock exchange


Bombay stock exchange


National stock exchange




Primary market


Secondary market




Technologys on trading


Objective of the Study


Chapter 2 -Company Profile/Research Methodology


Company Details


About Online trading account


Documents required for opening an account


Computer Hardware and Software requirement


Research design
Sampling design
Data collection


Chapter 3-Data Analysis & FINDINGS


Chapter 4-conclusions














Stocks are a part, if not the cornerstone, of nearly any investment portfolio. When you start on
your road to financial freedom, you need to have a solid understanding of stocks and how they
trade on the stock market.
Over the last few decades, the average person's interest in the stock market has grown
exponentially. What was once a toy of the rich has now turned into the vehicle of choice for
growing wealth. This demand coupled with advances in trading technology has opened up the
markets so that nowadays nearly anybody can own stocks.
The key to protecting yourself in the stock market is to understand where you are putting your
money. It is for this reason that we've created this tutorial: to provide the foundation you need to
make investment decisions yourself. We'll start by explaining what a stock is and the different
types of stock, and then we'll talk about how they are traded, what causes prices to change, how
you buy stocks, and much more.

What are stocks?

sPlain and simple, stock is a share in the ownership of a company. Stock represents a claim on
the company's assets and earnings. As you acquire more stock, your ownership stake in the
company becomes greater. Whether you say shares, equity, or stock, it all means the same things.

Being an Owner:Holding a company's stock means that you are one of the many owners (shareholders) of a
company, and, as such, you have a claim to everything the company owns. Yes, this means that
technically you own a tiny sliver of every piece of furniture, every trademark, and every contract
of the company. As an owner, you are entitled to your share of the company's earnings as well as
any voting rights attached to the stock.
A stock is represented by a stock certificate. This is a fancy piece of paper that is proof of your
ownership. In today's computer age, you won't actually get to see this document because your
brokerage keeps these records electronically, which is also known as holding shares "in street
name." This is done to make the shares easier to trade. In the past when a person wanted to sell
his or her shares, that person physically took the certificates down to the brokerage. Now, trading
with a click of the mouse or a phone call makes life easier for everybody.

It isn't too big a deal that the shareholders are not the ones managing the company. After all, the
idea is that you don't want to have to work to make money, right? The importance of being a
shareholder is that you are entitled to a portion of the companys profits and have a claim
on assets. Profits are sometimes paid out in the form of dividends. The more shares you own, the

larger the portion of the profits you get. The importance of stock ownership is your claim on
assets and earnings. Without this, the stock wouldn't be worth the paper it's printed on.

Debt vs. Equity: Why does a company issue stock? Why would the founders share the profits with thousands of
people when they could keep profits to themselves? The reason is that at some point every
company needs to raise money. To do this, companies can either borrow it from somebody or
raise it by selling part of the company, which is known as issuing stock. A company can borrow
by taking a loan from a bank or by issuing bonds.

Both methods fit under the umbrella of "debt financing." On the other hand, issuing stock is
called "equity financing." Issuing stock is advantageous for the company because it does not
require the company to pay back the money or make interest payments along the way. All that
the shareholders get in return for their money is the hope that the shares will someday be worth
more. The first sale of a stock, which is issued by the private company itself, is called the initial
public offering (IPO).

It is important that you understand the distinction between a company financing through debt and
financing through equity. When you buy a debt investment such as a bond, you are guaranteed
the return of your money (the principal) along with promised interest payments. This isn't the
case with an equity investment. By becoming an owner, you assume the risk of the company not
being successful. Just as a small business owner isn't guaranteed a return, neither is a
shareholder. As an owner your claim on assets is lesser than that of creditors. This means that if a

company goes bankrupt and liquidates, you, as a shareholder, don't get any money until the
banks and bondholders have been paid out; we call this absolute priority. Shareholders earn a lot
if a company is successful, but they also stand to lose their entire investment if the company isn't

Risk:It must be emphasized that there are no guarantees when it comes to individual stocks. Some
companies pay out dividends, but many others do not. And there is no obligation to pay out
dividends even for those firms that have traditionally given them. Without dividends an investor
can make money on a stock only through its appreciation in the open market. On the downside,
any stock may go bankrupt, in which case your investment is worth nothing.

Although risk might sound all -negative, there is also a bright side. Taking-on greater risk
demands a greater return on your investment. This is the reason why stocks have historically
outperformed other investments such as bonds or savings accounts. Over the long term, an
investment in stocks has historically had an average return of around 10%-12%. A great proof of
the power of owning equities is General Electric.

Different Types of Stock: There are two main types of stocks:

Common stock and
Preferred stock.

Common Stock
Common stock is, well, common; the majority of stock issued is in this form. Common shares
represent ownership in a company and a claim (dividends) on a portion of profits. Investors get
one vote per share to elect the board members, who oversee the major decisions made by
Over the long term, common stock, by means of capital growth, yields higher returns than almost
every other investment. This higher return comes at a cost since common stocks entail the most
risk. If a company goes bankrupt and liquidates, the common shareholders will not receive
money until the creditors, bondholders, and preferred shareholders are paid.

Preferred Stock
Preferred stock represents some degree of ownership in a company but usually doesn't come with
the same voting rights. (This may vary depending on the company.) With preferred shares
investors are usually guaranteed a fixed dividend forever. This is different than common stock,
which has variable dividends that are never guaranteed. Another advantage is that in the event of
liquidation preferred shareholders are paid off before the common shareholder (but still after debt
holders). Preferred stock may also be callable, meaning that the company has the option to
purchase the shares from shareholders at anytime for any reason (usually for a premium).

Causes Prices to Change: Stock prices change every day by market forces. By this we mean that share prices change
because of supply and demand. If more people want to buy a stock (demand) than sell it
(supply), then the price moves up. Conversely, if more people wanted to sell a stock than buy it,
there would be greater supply than demand, and the price would fall. Understanding supply and
demand is easy. What is difficult to comprehend is what makes people like a particular stock and
dislike another stock. This comes down to figuring out what news is positive for a company and
what news is negative. There are many answers to this problem and just about any investor you
ask has their own ideas and strategies. That being said, the principal theory is that the price
movement of a stock indicates what investors feel a company is worth. Don't equate a company's
value with the stock price. The value of a company is its market capitalization, which is the stock
price multiplied by the number of shares outstanding.

The most important factor that affects the value of a company is its earnings. Earnings are the
profit a company makes, and in the long run no company can survive without them. . Public
companies are required to report their earnings four times a year (once each quarter). If a
company's results surprise (are better than expected), the price jumps up. If a company's results
disappoint (are worse than expected), then the price will fall.
So, why do stock prices change? The best answer is that nobody really knows for sure. Some
believe that it isn't possible to predict how stocks will change in price while others think that by
drawing charts and looking at past price movements, you can determine when to buy and sell.
The only thing we do know as a certainty is that stocks are volatile and can change in price
extremely rapidly.
The important things to grasp about this subject are the following:
1.At the most fundamental level, supply and demand in the market determine stock price.
2. Price times the number of shares outstanding (market capitalization) is the value of a
company. Comparing just the share price of two companies is meaningless.
3. Theoretically earnings are what affect investors' valuation of a company, but there are other
indicators that investors use to predict stock price. Remember, it is investors' sentiments,
attitudes, and expectations that ultimately affect stock prices.
4. There are many theories that try to explain the way stock prices move the way they do.
Unfortunately, there is no one theory that can explain everything.



A stock exchange is a corporation or mutual organization which provides the facilities for stock
brokers to trade company stocks and other financial instruments in the secondary market. Stock
exchanges also provide facilities for the issue and redemption of securities, as well as other
financial instruments and capital events including the payment of income and dividends.

The securities usually traded on a stock exchange include the shares issued by companies, unit
trusts and other pooled investment products as well as corporate bonds and government bonds.
Usually there is a central location at least for recordkeeping, but trade is less and less linked to
such a physical place, as modern markets are electronic networks, which gives them advantages
of speed and cost of transactions.
Trade on an exchange is by members only; a stock broker is said to "have a seat" on the

A stock exchange is often the most important component of a stock market. There is usually no
compulsion to issue stock via the stock exchange itself, nor must stock be subsequently traded on
the exchange. Such trading is said to be "off exchange".
The initial offering of stock to investors is by definition the primary market and subsequent
trading is the secondary market.
Increasingly all stock exchanges are part of the global securities market.
Supply and demand in stock markets is driven by various factors which, as in all free markets,
affect the price of stocks (see stock valuation).
In franc phonic European countries stock exchanges are called bourses.

History of the Stock Exchange

In 12th Century France the courratier de change was concerned with managing and regulating
the debts of agricultural communities on behalf of the banks. Because these men also traded with
debts, they could be called the first brokers.
In the late 13th Century Bruges commodity traders gathered inside the house of a man called Van
der Bourse, and in 1309 they institutionalized this until now informal meeting and became the
"Bruges Bourse". The Idea quickly spread around Flanders and neighboring counties and
"Bourses" soon opened in Ghent and Amsterdam.
In the middle of the 13th Century Venice Bankers began to trade with government securities. In
1351 the Venetian Government outlawed spreading rumors intended to lower the price of
government funds. Pisa, Verona, Genoa and Florence also began trading with government
securities during the 14th century. This was only possible because these were independent city
states not ruled by a duke but a council of influential citizens.
The Dutch later started joint stock companies, which let shareholders invest in business ventures
and get a share of their profits - or losses. In 1602, the Dutch
East India Company issued the first shares on the Amsterdam Stock Exchange. It was the first
company to issue stocks and bonds.

Listing requirements
Companies have to meet the requirements of the exchange in order to have their stocks and
shares listed and traded there. To be listed on the NYSE (New York Stock Exchange), for
example, a company must have issued at least a million shares of stock worth $100 million and
must have earned more than $10 million over the last three years.

Stock market index

A stock market index is a listing of stocks, and a statistic reflecting the composite value of its
components. It is used as a tool to represent the characteristics of its component stocks, all of
which bear some commonality such as trading on the same stock market exchange, belonging to
the same industry, or having similar market capitalizations. Many indices compiled by news or
financial services firms are used to benchmark the performance of portfolios such as mutual

Types of indices
Stock market indices may be classed in many ways. A broad-base index represents the
performance of a whole stock market and by proxy, reflects investor sentiment on the state of
the economy. The most regularly quoted market indices are broad-base indices including the

largest listed companies on a nation's largest stock exchange, such as the American Dow Jones
Industrial Average and S&P 500 Index, the British FTSE 100, and the Japanese Nikkei 225.

The concept may be extended well beyond an exchange. The Dow Jones Wilshire 5000 Total
Stock Market Index, as its name implies, represents the stocks of nearly every publicly traded
company in the United States, including all stocks traded on the New York Stock Exchange and
most traded on the NASDAQ and American Stock Exchange. The Europe, Australia, and Far
East Index (EAFE), published by Morgan Stanley Capital International, is a listing of large
companies in developed economies in the Eastern Hemisphere.

More specialized indices exist tracking the performance of specific sectors of the market. The
Morgan Stanley Biotech Index, for example, consists of 36 American firms in the biotechnology
industry. Other indices may track companies of a certain size, a certain type of management, or
even more specialized criteria one index published by Linux Weekly News tracks stocks of
companies that sell products and services based L' lll\'on the Linux operating environment.

An index may also be classified according to the method used to determine its price. In a price
weighted index such as the Dow Jones Industrial Average, the price of each component stock is
the only consideration when determining the value of the index. Thus, price movement of even a
single security will heavily influence the value of the index even though the dollar shift is less
significant in a relatively highly valued issue, and moreover ignoring the relative size of the
company as a whole. In contrast, a market-value weighted or capitalization-weighted index such
as the Hang Sang Index factors in the size of the company. Thus, a relatively small shift in the
price of a large company will heavily

Influence the value of the index. In a market-share weighted index, price is weighted relative to
the number of shares, rather than their total value.
Traditionally, capitalization- or share-weighted indices all had a full weighting i.e. all
outstanding shares were included. Recently, many of them have changed to a float-adjusted
weighting which helps indexing.

Indices and passive investment management

There has been an accelerating trend in recent decades to create passively managed mutual funds
that are based on market indices, known as index funds. Advocates claim that index funds
routinely beat a large majority of actively managed mutual funds; one study claimed that over
time, the average actively managed fund has returned 1.8% less than the S&P 500 index. Since
index funds attempt to replicate the holdings of an index, they obviate the need for and thus
many costs of the research entailed in active management, and have a lower "churn" rate (the
turnover of securities which lose favor and are sold, with the attendant cost of commissions and
capital gains taxes).

Indices are also a common basis for a related type of investment, the exchange-traded fund or
ETF. Unlike an index fund, which is priced daily, an ETF is priced continuously, is optionable,
and can be sold short.

Ethical stock market indices

A notable specialised index type is those for ethical investing indices that include only those
companies satisfying ecological or social criteria, e.g. those of The Calvert Group, Domini, and
the Dow Jones Sustainable Index.

Another important trend is strict mechanical criteria for inclusion and exclusion to prevent
market manipulation, e.g. as in Canada when Nortel was permitted to rise to over 50% of the
TSE 300 index value. Ethical indices have a particular interest in mechanical criteria, seeking to
avoid accusations of ideological bias in selection, and have pioneered techniques for inclusion
and exclusion of stocks based on complex criteria. Another means of mechanical selection is
mark-to-future methods that exploit scenario produced by multiple analysts weighted according
to probability, to determine which stocks have become too risky to hold in the index of concern.
Critics of such initiatives argue that many firms satisfy mechanical "ethical criteria", e.g.
regarding board composition or hiring practices, but fail to perform ethically with respect to
shareholders, e.g. Enron. Indeed, the seeming "seal of approval" of an ethical index may put
investors more at ease, enabling scams. One response to these criticisms is that trust in the
corporate management, index criteria, fund or index manager, and securities regulator, can never
be replaced by mechanical means, so "market transparency" and "disclosure" are the only longterm-effective paths to fair markets.

Bombay Stock Exchange

The Bombay Stock Exchange (BSE) is located in Dalal Street, Mumbai. Established in 1875,
BSE is the oldest stock exchange in Asia. There are around 3,500 companies in the country
which are listed and have a significant trading volume. As of January 2005, the market
capitalization of the BSE is about Rs. 12 trillion. The BSE `Sensex' is a widely used market

index for the BSE. As of 2005, it is among the 5 biggest stock exchanges in the world in terms of
number of transactions.

Of the 22 stock exchanges in the country, Mumbai's (earlier known as Bombay), Bombay Stock
Exchange is the largest, with over 6,000 stocks listed. The BSE accounts for over two thirds of
the total trading volume in the country. Established in 1875, the exchange is also the oldest in
Asia. Among the twenty-two Stock Exchanges recognised by the Government of India under the
Securities Contracts (Regulation) Act, 1956, it was the first one to be recognised and it is the
only one that had the privilege of getting permanent recognition ab-initio.
Approximately 70,000 deals are executed on a daily basis, giving it one of the highest per hour
rates of trading in the world. There are around 3,500 companies in the country which are listed
and have a serious trading volume. The market capitalization of the BSE is Rs.5 trillion. The
BSE `Sensex' is a widely used market index for the BSE.
The main aims and objectives of the BSE is to provide a market place for the purchase and sale
of security evidencing the ownership of business property or of a public or business debt. It aims
to promote, develop and maintain a well regulated market for dealing in securities and to
safeguard the interest of members and the investing public having dealings on the Exchange.

It helps industrial development of the country through efficient resource mobilization to establish
and promote honourable and just practices in securities transactions.

An informal group of stockbrokers had been trading under a banyan tree opposite the Town Hall
of Bombay from mid-1850s. This banyan tree still stands in Horniman Circle Park, Mumbai.
This informal group of stockbrokers organized themselves as The Native Share and
Stockbrokers Association which, in 1875, was formally organized as the Bombay Stock
Exchange (BSE). BSE is the oldest stock exchange in Asia, the second being the Tokyo Stock
Exchange, established in 1878.
Premchand Roychand was a leading stockbroker of that time, and he assisted in setting out
traditions, conventions, and procedures for the trading of stocks at Bombay Stock Exchange and
they are still being followed.

Dalal Street
James M. Maclean inaugurated the Brokers Hall in January 1899. After the First World War,
BSE was shifted to an old building, near the Bombay Town Hall and in 1928, the plot on which
the BSE building now stands, on Dalal Street, was acquired, and a building was constructed in
The Bombay Stock Exchange followed the familiar outcry system for stock trading, which was
replaced, in the year 1995, with screen-based eTrading. BSE is presently housed in a 28-storied
Jeejeebhoy Towers, where the older structure once stood: the present building derives its name

from Sir Phiroze Jamshedjee Jeejeebhoy, the chairman of the Bombay Stock Exchange from
1966, until his death in 1980.

BSE Sensex
The BSE Sensex is a value-weighted index composed of 30 companies with the base April 1979
= 100. It has grown by more than four times from January 1990 till date. The set of companies in
the index is essentially fixed. These companies

account for around one-fifth of the market capitalization of the BSE. We can use information
from April 1979 onwards in estimating the long-run rate of return on the BSE Sensex and that
comes to 0.52% per week (continuously compounded) with a standard deviation of 3.67%. This
translates to 27% per annum, which translates to roughly 18% per annum after compensating for
New Developments
In November, 1996, as a move to reduce the counter party risk, the Exchange set up a trade
guarantee scheme i.e. all trades carried out on the BOLT are guaranteed by the Clearing House of
the Exchange.

A depository has been set up as a joint venture by the Bank of India and the Exchange. However,
it will be a subsidiary of the Bank of India. The Exchange introduced trading in fixed income
securities under a separate group to give impetus to trading in debentures and other corporate
debt instruments to Increase Trading in government dated securities.

BSE - other Indices

Apart from BSE Sensex, which is the most popular stock index in India, BSE uses other stock
Indices as well:

BSE 100

BSE 500





The stock market has grown by more than four times from January 1990 to today. Using
information from April 1979 onwards, the long-run rate of return on the BSE Sensex can be
estimated to be 0.52% per week (continuously compounded) with a standard deviation of 3.67%.
This translates to 27% per annum, which translates to roughly 18% per annum after
compensating for inflation.

The Bulls: A bull market is when everything in the economy is great, people are finding jobs, GDP is
growing, and stocks are rising. Picking stocks during a bull market is easier because everything
is going up. Bull markets cannot last forever though, and sometimes they can lead to dangerous
situations if stocks become overvalued.

The Bears: A bear market is when the economy is bad, recession is looming, and stock prices are falling.
Bear markets make it tough for investors to pick profitable stocks. One solution to this is to make
money when stocks are falling using a technique called short selling. Another strategy is to wait
on the sidelines until you feel that the bear market is nearing its end, only starting to buy in
anticipation of a bull market.

National Stock Exchange of India

The National Stock Exchange of India (NSE) is one of the largest and most advanced stock
markets in India. The NSE is the world's third largest stock exchange in terms of transactions. It
is located in Mumbai, the financial capital of India.

The National Stock Exchange (NSE), located in Bombay, is India's first debt market. It was set
up in 1993 to encourage stock exchange reform through system modernization and
competition. It opened for trading in mid-1994. It was recently accorded recognition as a stock
exchange by the Department of Company Affairs. The instruments traded are, treasury bills,
government security and bonds issued by public sector companies.
The number of members trading on the exchange has been on a steady increase, helping integrate
the national market and providing a modern system with a complete audit trail of all transactions.

It was promoted by leading Financial Institutions at the behest of the Government of India and
was incorporated in November 1992 as a tax-paying company. In April 1993, it got the
recognition as a Stock Exchange. NSE commenced operations in the Wholesale Debt Market
(WDM) segment in June 1994. The Capital Market (Equities) segment commenced operations in
November 1994 and operations in Derivatives segment commenced in June 2000.

NSE has remained in the forefront of modernization of India's capital and financial markets, and
its pioneering efforts include:

Co-promoting and setting up of National Securities Depository Limited, first depository

in India

NSE pioneered commencement of Internet Trading in February 2000, which led to the
wide popularization of the NSE in the broker community.

Currently, NSE has the following major segments of the capital market:


Futures and Options

Retail Debt Market

Wholesale Debt Market


1026 trading members on the Capital Market segment, of which around 86% account for
corporate, and the remaining individuals and firms.

113 trading members on the Wholesale Debt Market segment, all of which account for
corporate. (Out of these 113 trading members, 106 are members of the Capital Market
segment also and are included in the 1026 members indicated above).

Geographic Distribution

Over 2600 trading terminals

Over 1500 VSATs across the country with a 24 hour Network monitoring
system in over 160 cities as of December 31st, 1997.

Number of Companies

On the Capital Market segment, 600 securities are listed and 762 securities are permitted
to trade as of December 31st, 1997.

On the Wholesale Debt Market segment, 470 securities are listed and 369 securities are
permitted to trade as of December 31st, 1997. Of the 470 securities listed, 267 are
Government Securities, T-Bills and the balance account for other securities.


Company Name
ABB Ltd.


Associated Cement Companies Ltd.


Bajaj Auto Ltd.


Bharti Tele-Ventures Ltd.


Bharat Heavy Electricals Ltd.


Bharat Petroleum Corporation Ltd.


Cipla Ltd.


Dabur India Ltd.


Dr. Reddy's Laboratories Ltd.


GAIL (India) Ltd.


Glaxosmithkline Pharmaceuticals Ltd.


Grasim Industries Ltd.


Gujarat Ambuja Cements Ltd.


HCL Technologies Ltd.





Corporation Ltd.


HDFC Bank Ltd.


Hero Honda Motors Ltd.


Hindalco Industries Ltd.


Hindustan Lever Ltd.


Hindustan Petroleum Corporation Ltd.


ICICI Bank Ltd.


Infosys Technologies Ltd.


Indian Petrochemicals Corporation Ltd.


I T C Ltd.


Jet Airways (India) Ltd.


Larsen & Toubro Ltd.


Mahindra & Mahindra Ltd.


Maruti Udyog Ltd.


Mahanagar Telephone Nigam Ltd.


National Aluminium Co. Ltd.


Oil & Natural Gas Corporation Ltd.


Oriental Bank of Commerce


Punjab National Bank


Ranbaxy Laboratories Ltd.


Reliance Energy Ltd.


Reliance Industries Ltd.


Steel Authority of India Ltd.


Satyam Computer Services Ltd.


State Bank of India


Shipping Corporation of India Ltd.


Sun Pharmaceutical Industries Ltd.


Tata Chemicals Ltd.


Tata Motors Ltd.


Tata Power Co. Ltd.


Tata Steel Ltd.


Tata Tea Ltd.


Tata Consultancy Services Ltd.


Videsh Sanchar Nigam Ltd.


Wipro Ltd.


Zee Telefilms Ltd.


Capital Market Operations

NSE is working to increase the capacity of the trading system from the present 4, 00,000
trades per day to more than 10, 00,000 trades per day.

The average daily numbers of trades have gone up from over 893 trades in November-94
to over 1, 48,783 trades in November 97. On August 7, 97 the number of trades reached
a record high of 2, 36,411 which makes NSE one of the largest stock exchanges in the

Average daily traded value has increased from Rs.7 crores in November-94 to more than
Rs. 1480 crores in December-97 with a high of Rs.3,080.61 crores recorded on 26th June97.

Number of shares traded has increased from 76.10 lakhs in November-94 to 11,148.21
lakhs in December-97.

Net traded value has increased from Rs.125 crores in November -94 to Rs. 32,549 crores
in December-97.

Delivered value (settlement wise) has increased from Rs.60 crores in November -94 to
Rs.5, 008 crores in December -97.

Number of shares traded (depository segment) has increased from 200 shares in
December -96 to 1, 19,102 shares in December-97.

Net traded value (depository segment) has increased from Rs.0.43 lakhs in December -96
to Rs.185.44 lakhs in December-97.

Market share of cities other than five metros (Mumbai, Delhi, Calcutta, Chennai &
Ahmadabad) which was about 16% in first quarter of 1996 grew to as high as 24% during
the last quarter of 1997.

The ratio of contribution to turnover from Non Stock Exchange centers to Stock
Exchange centers has risen from 0.36% in first quarter (Jan to Mar) of 1996 to over 10%
in fourth quarter of 1997.

The market capitalization of companies has increased from Rs. 292637 crores in
November'94 to Rs. 4571663 crores in February'98.

Clearing & Settlement

Completed 170 settlements successfully without any delay or postponement as on

February 28, 1998.

Value of shares handled by the Clearing house per week has increased from Rs. 30 crores
in November-94 to over Rs.1042 crores per week in December-97. The highest value of
shares handled during the period was more than Rs. 2251.40 crores.

Inter-Region Clearing: NSCCL has Regional Clearing Centers at Delhi, Calcutta,

Chennai and a Central Clearing Centre at Mumbai. Members have the option of
delivering/receiving the securities at a clearing centre chosen by them.

Wholesale Debt Market Operations

The WDM segment commenced operations on June 30, 1994 with 224 securities carrying
an outstanding debt value of Rs. 1,35,000 crores (US$ 34 billion). This has now increased
to 839 securities with a market capitalization of Rs. 3, 50,565 crores (US$ 88 billion).
More than half of the securities available for trading are listed and the balance are
permitted to trade.

Currently, the Exchange has 78 registered participants on the WDM segment which
includes 24 Public sector banks, 18 Foreign banks, 15 Private sector banks, 6 Primary
dealers, 5 Financial institutions, the others being corporate bodies, mutual funds and
foreign debt fund.

Average daily value in the WDM segment increased from Rs. 2.4 crores in June-94 to Rs.
298.17 crores in December -97 with a high of Rs. 1831.27 crores recorded on 12-Aug-97.

Net traded value in the WDM segment increased from Rs. 1096.25 crores in July -94 to
Rs. 7,752.52 crores in December-97 with a high of Rs. 15,545.40 crores recorded in July

There has been a consistent increase in NSEs share of the total volume of activity in the
market (gilt securities) over the period. Government securities along with Treasury bills
together account for over 80% of the total market activity.

The share of the Exchange of the total market activity in Government Securities and TBills has increased from a mere 22% in 1996 to 53% in 1997.

NSE also set up as index services firm known as India Index Services & Products Limited (IISL)
and has launched several stock indices, including:

S&P CNX Nifty

CNX Nifty Junior.


S&P CNX 500


NSE also conducts online examination and awards certification, under its programmers of NSE's
Certification in Financial Markets (NCFM) Currently; certifications are available in 9 modules,
covering different sectors of financial and capital markets:
Branches of the NSE are located throughout India.

S&P CNX Nifty

The S&P CNX Nifty is the leading index for large companies on the National Stock Exchange
of India. It consists of 50 companies representing 24 sectors of the economy, and representing
approximately 77% of the traded value of all stocks on the National Stock Exchange of India.
The S&P CNX Nifty is owned and operated by India Index Services and Products Ltd. It is
quoted using the symbol NSEI.

It is calculated as a weighted average, so changes in the share price of larger companies have
more effect. The base is defined as 1000 at the price level of November 3, 1995, at which time
the total capitalization was 2.06 trillion rupees. In January 2005 its level was approximately 2000

History of the Stock Exchange

In 12th Century France the courratier de change were concerned with managing and regulating
the debts of agricultural communities on behalf of the banks. Because these men also traded with
debts, they could be called the first brokers.
In the late 13th Century Bruges commodity traders gathered inside the house of a man called Van
der Bourse, and in 1309 they institutionalized this until now informal meeting and became the
"Bruges Bourse". The Idea quickly spread around Flanders and neighboring counties and
"Bourses" soon opened in Ghent and Amsterdam.
In the middle of the 13th Century Venice Bankers began to trade with government securities. In
1351 the Venetian Government outlawed spreading rumors intended to lower the price of
government funds. Pisa, Verona, Genoa and Florence also began trading with government
securities during the 14th century. This was only possible because these were independent city
states not ruled by a duke but a council of influential citizens.

The Dutch later started joint stock companies, which let shareholders invest in business ventures
and get a share of their profits - or losses. In 1602, the Dutch East India Company issued the first
shares on the Amsterdam Stock Exchange. It was the first company to issue stocks and bonds.

Stock Market
The market in which shares are issued and traded either through exchanges

or over-the-counter

markets. Also known as the equity market, it is one of the most vital areas of a market economy
as it provides companies with access to capital and investors with a slice of ownership in the
company and the potential of gains based on the company's future performance.

This market can be split into two main sections: the primary and secondary market. The primary
market is where new issues are first offered, with any subsequent trading going on in the
secondary market.

Primary market (IPOs)

In financial markets, an initial public offering (IPO) is the first sale of a company's common
shares to public investors. The company will usually issue only primary shares, but may also sell
secondary shares. Typically, a company will hire an investment banker to underwrite the offering
and a corporate lawyer to assist in the drafting of the prospectus.
The sale of stock is regulated by authorities of financial supervision and where relevant by a
stock exchange. It is usually a requirement that disclosure of the financial situation and prospects
of a company be made to prospective investors.
The Federal Securities and Exchange Commission (SEC) regulates the securities markets of the
United States and, by extension, the legal procedures governing IPOs. The law governing IPOs
in the United States includes primarily the Securities Act of 1933, the regulations issued by the
SEC, and the various state "Blue Sky Laws".

Secondary market

The secondary market (also called "aftermarket") is the financial market for trading of
securities that have already been issued in its initial private or public offering. Stock exchanges
are examples of secondary markets. Alternatively, secondary market can refer to the market for
any kind of used goods.
Secondary markets have a long history, beginning perhaps with a flourishing trade in commercial
bills of exchange in 12th and 13th century France. It was the French King Philip the Fair who
created the profession of broker, or "couratier de change," in order to regularize this market.
Amsterdam's Bourse, which began operations in 1611, was the first true stock exchange, and this
reflected the importance of Holland in world trade at that time.

In the secondary market, securities are sold by and transferred from one speculator to another. It
is therefore important that the secondary market be highly liquid and transparent. The eligibility
of stocks and bonds for trading in the secondary market is regulated through financial
supervisory authorities and the rules of the market place in question, which could be a stock

Means of financing

Financing a company through the sale of stock in a company is known as equity financing.
Alternatively debt financing (for example issuing bonds) can be done to avoid giving up shares
of ownership of the company.

Shares of stock are usually traded on a stock exchange, where people and organizations may buy
and sell shares in a wide range of companies. A given company will usually only trade its shares
in one market, and it is said to be quoted, or listed, on that stock exchange.

However, some large, multinational corporations are listed on more than one exchange. They are
referred to as inter-listed shares.

There are various methods of buying and financing stocks. The most common means is through a
stock broker. Whether they are a full service or discount broker, they are all doing one thing
arranging the transfer of stock from a seller to a buyer. Most of the trades are actually done
through brokers listed with a stock exchange such as the New York Stock Exchange.
There are many different stock brokers to choose from such as full service brokers or discount
brokers. The full service brokers usually charge more per trade, but give investment advice or
more personal service; the discount brokers offer little or no investment advice but charge less
for trades. Another type of broker would be a bank or credit union that may have a deal set up
with either a full service or discount broker.

There are other ways of buying stock besides through a broker. One way is directly from the
company itself. If at least one share is owned, most companies will allow the purchase of shares
directly from the company through their investor's relations departments. However, the initial
share of stock in the company will have to be obtained through a regular stock broker. Another
way to buy stock in companies is through Direct Public Offerings which are usually sold by the
company itself. A direct public offering is an initial public offering a company in which the stock
is purchased directly from the company, usually without the aid of brokers.

When it comes to financing a purchase of stocks there are two ways: purchasing stock with
money that is currently in the buyers ownership or by buying stock on margin. Buying stock on
margin means buying stock with money borrowed against the stocks in the same account. These
stocks, or collateral, guarantee that the buyer can repay the loan; otherwise, the stockbroker has
the right to sell the stocks (collateral) to repay the borrowed money. He can sell if the share price
drops below the margin requirement, at least 50 percent of the value of the stocks in the account.
Buying on margin works the same way as borrowing money to buy a car or a house using the car
or house as collateral. Moreover, borrowing is not free; the broker usually charges you 8-10
percent interest.

Selling stock in a company goes through many of the same procedures as buying stock.
Generally, the investor wants to buy low and sell high, if not in that order; however, this is not
how it always ends up. Sometimes, the investor will cut their losses and claim a loss.

As with buying a stock, there is a transaction fee for the broker's efforts in arranging the transfer
of stock from a seller to a buyer. This fee can be high or low depending on if it is a full service or
discount broker.
After the transaction has been made, the seller is then entitled to all of the money. An important
part of selling is keeping track of the earnings. It is important to remember that upon selling
the stock, in jurisdictions that have them, capital gains taxes will have to be paid on the
additional proceeds, if any, that are in excess of the cost basis.

Technologys on Trading
Stock trading has evolved tremendously. Since the very first Initial Public Offering (IPO) in the
13th century, owning shares of a company has been a very attractive incentive. Even though the
origins of stock trading go back to the 13th century, the market as we know it today did not catch
on strongly until the late 1800s.
Co-production between technology and society has led the push for effective and efficient ways
of trading. Technology has allowed the stock market to grow tremendously, and all the while
society has encouraged the growth. Within seconds of an order for a stock, the transaction can
now take place. Most of the recent advancements with the trading have been due to the Internet.
The Internet has allowed online trading. In contrast to the past where only those who could
afford the expensive stock brokers, anyone who wishes to be active in the stock market can now
do so at a very low cost per transaction. Trading can even be done through Computer-Mediated
Communication (CMC) use of mobile devices such as hand computers and cellular phones.
These advances in technology have made day trading possible.

The stock market has grown so that some argue that it represents a country's economy. This
growth has been enjoyed largely to the credibility and reputation that the stock market has earned


The project Empirical study of Indian stock market aims at fulfilling the following
objectives: -

1. To understand what are Stocks? What are different types of stock available in the market
and how they are traded?
2. To Understanding Stock market in India.
3. To understand different kind of interest rates and the hedging concept.
4. To know what are Interest rate futures and swaps? How they are priced? And how
hedging is done using them?
5. Ensure the development of underwriting and market making capabilities for Government
6. Improve secondary market trading system, which would contribute to price discovery,
enhance liquidity and turnover and encourage voluntary holding of Government
securities amongst a wider investor base.


Company Profile/Research

Sharekhan is India's leading retail financial services company with over 250 share shops across
115 cities in India. While our size and strong balance sheet allow us to provide you with varied
products and services at very attractive prices, our over 750 Client Relationship Managers are
dedicated to serving your unique needs.

Sharekhan is lead by a highly regarded management team that has invested crores of rupees into
a world class Infrastructure that provides our clients with real-time service & 24/7 access to all
information and products. Our flagship Sharekhan Professional Network offers real-time
prices, detailed data and news, intelligent analytics, and electronic trading capabilities, right at
your finger-tips. This powerful technology complemented by our knowledgeable and customer
focused Relationship Managers. Its creating a world of Smart Investor.

Sharekhan offers a full range of financial services and products ranging from Equities to
Derivatives enhance your wealth and hence, achieve your financial goals.

Sharekhan' Client Relationship Managers are available to you to help with your financial
planning and investment needs. To provide the highest possible quality of service, India bulls
provides full access to all our products and services through multi-channels .

Services provided by the SHAREKHAN:--

1. Equities & Derivatives

: Comprehensive services for

Independent investors, active traders & Non-Resident

2. Sharekhan equity analysis

: Premium research on 401+ companies

Updated daily

3. Depository Services

: Value added services for seamless


Equities and Derivatives

Our Retail Equity Business caters to the needs of individual Indian and Non-Resident Indian
(NRI) investors. Sharekhan offers broker assisted trade execution, automated


access to



Through various types of brokerage accounts, India bulls offers the purchase and sale of

securities which includes Equity, Derivatives and Commodities Instruments listed on National
Stock Exchange of India Ltd (NSEIL), The Stock Exchange, Mumbai (BSE) and NCDEX.

Choose the service options that fit your best.

Sharekhan Classic account - Comprehensive services including research and investing

guidance for independent investors.

Sharekhan Fast trade - Sharekhan is dedicated to empower Active Traders through

personal service and advanced trading technology.

Sharekhan Speed trade plus - With an extensive range of investment products, you will
discover an unwavering commitment to helping you invest in India.

Online trading account

Sharekhan provide two types of trading account:


Classic account (For beginners and medium investor)


Speed Trade

(For heavy investor)

Classic Account:-The CLASSIC ACCOUNT is a Sharekhan online trading account, through which you can buy

and sell shares through our website www.sharekhan.com in an instant.

Along with enabling access for you to trade online, the CLASSIC ACCOUNT also gives you our
Dial-n-Trade service. With this service, all you have to do is dial 1-600-22-7050 to buy and sell
shares using your phone.
9 Features of the CLASSIC ACCOUNT that enables you to invest effortlessly.
1. Online trading account for investing in Equities and Derivatives via sharekhan.com
2. Integration of: Online trading + Bank + Demat account
3. Instant cash transfer facility against purchase & sale of shares
4. Reasonable transaction charges
5. Instant order and trade confirmation by e-mail
6. Streaming quotes
7. Personalized market watch
8. Single screen interface for cash, derivatives and more
9. Provision to enter price trigger and view the same online in market watch


SPEEDTRADE is an internet-based software application, that enables you to buy and sell
shares in an instant.
Its ideal for active traders and jobbers who transact frequently during day's trading session to
capitalize on intra-day price movements.
Speed Trade provides all the features of Classic, with the added functionality of trading in
derivatives from the same single-screen software interface.
7 Features of Speed trade that enable you to trade effortlessly

1. Instant order Execution & Confirmation

2. Single screen trading terminal
3. Real-time streaming quotes, tic-by-tic charts
4. Market summary (most traded scrip, highest value)
5. Hot keys similar to a brokers terminal
6. Alerts and reminders
7. Back-up facility to place trades on Direct Phone lines

Our Dial-n-Trade service gives you the convenience of buying and selling shares over the
phone by calling our dedicated phone lines at 1-600-22-7050.

DIAL-N -TRADE now comes as a part of the Sharekhan Classic Account, an exclusive service
for trading shares from your telephone.

Just dial 1-600-22-7050*, enter your TPIN number, and you will be directed to a tiebreaker who
will buy or sell shares for you.

Documents required to opening of demat account:

All investors have to submit their proof of identity and proof of address along
with the prescribed account opening form.
1. Proof of identity: You can submit a copy of Passport, Voters ID card,
Driving license or PAN card with photograph.
2. Proof of address: You can submit a copy of Passport, Voters ID card,
Driving license, PAN card with photograph, Ration card or Bank
Passbook as proof of address. You must remember to take original
Documents to the DP for verification.
3. Passport-size photograph.
The above are mandatory requirements as per Securities and Exchange
Board of India.

5.2 Computer Hardware and Software requirement

Pricing for Retail Customers

Classic/ Applet

Account opening: Rs 750 (life time charges)


:1st yr NIL

From 2nd yr

: Rs 300 as AMC

Initial Margin


Min Margin Retainable



Intraday Trading-

0.10%each side +all Taxes


0.50%each side +all Taxes

Exposure: 4 to 6.6 times (on margin money)

Speed Trade
Account Opening

: Rs 1000 (Refundable against brokerage in Month + 1)

Demat 1st Yr

: Inclusive in Account Opening

Initial Margin


Min Margin Retainable: NIL


Trading 0.10% each side + All Taxes

Delivery 0.50% each side + All Taxes
(Negotiable based on volume)

Account Access Charges


1. Monthly Rs 500, adjustable qtrly against brokerage of Rs 3000/- for qtr

2. No access charges for gold customers ( Above 1 lac brokerage p


Research Methodology is a systematic way which consists of series of actions or steps necessary
to effectively carry out research and the desired sequencing of these steps. The marketing
research is a process of involves a number of inter-related activities which overlap and do rigidly
follow a particular sequence. It consists of the following steps :
1. Formulating the objective of the study
2. Designing the methods of data collection
3. Selecting the sample plan
4. Collecting the data
5. Processing and analyzing the data
6. Reporting the findings

Research Design specifies the methods and procedures for conducting a particular study. A
Research Design is the arrangement of conditions for collection and analysis of the data in a
manner that aims to combine relevance to the research purpose with economy in procedure.
Research Design is broadly classified into three types as :

Exploratory Research Design

Descriptive Research Design

Hypothesis testing Research Design

On the basis of the objective of study, the studies which are concerned with describing the
character tics of a particular individual, or of a group of individual under study comes under
Descriptive Research Design.

Descriptive Research Design:

In this research design the objective of study is clearly defined and has accurate method of
measurement with a clear cut definition of population which is to be studied.

A Sample Design is a definite plan for obtaining a sample from a given

Population. It refers to the technique or the procedure adopted in selecting items for the sample.
The main constituents of the sampling design are as below: -

1. Sampling Unit
2. Sample Size
3. Sampling Procedure

A sampling framework i.e. developed for the target population will be sampled i.e. who is to be

Respondent of Share Khan

It is the substantial portion of the target population that are sampled to achieve reliable results.
Clients of



SAMPLING PROCEDURE:The procedure to choose the respondents to obtain a representative sample, a probability
sampling technique is applied for the target market.

NON-PROBABILITY SAMPLING:It is a purposive sampling which deliberately chooses the particular units of the universe for
constituting a sample on the basis that the small mass that they so select out of a huge one will be
typical or representative of the whole. Non-Probability sampling technique is used in the study
because the random selection of the universe i.e all clients cant be available randomly.

PRIMARY DATA:The primary data are those data which are collected afresh and for the first time and happen to be
original in character. The primary data to be collected for the study are:-

By Interviewing the Respondents of Sharekhan.

By Structured Questionnaire

By Tele calling.

SECONDARY DATA:Secondary data are those data which have already been collected by someone else and which
already had been passed through the statically process. The secondary data to be collected for the
study are:-

Publication of the company

Periodical of the company

By Companies Websites

STRUCTURED QUESTIONNAIRE:A Questionnaire consists of a number of questions printed or typed In a definite order on a form
or set of forms. It is the set of questions presented to the respondents for their answers. When the
questions have only two alternatives or of multiple choice, then it is known as closed-end
questionnaire, which is hence used the given study.






Analysis: From the above tabulation and charts it has been analyzed that maximum online
traders are from the age group 30-45.In Sharekhan the maximum number of online traders are in
the age groups 45-60








Not Exactly


Analysis: From the above tabulation it has been analyzed that maximum no. of traders that are
aware about the online trading. Majority of traders of Sharekhan are aware about Online Trading.




From the above data and tabulation it has been analyzed that 70% Sharekhan Respondents are
having excellent perception regarding it, which indicates good customer relations in Sharekhan.






From the above data and tabulation it has been analyzed that maximum no. of respondents of all
the broker houses prefer on-line trading rather than off-line.








From the above data and tabulation it has been analyzed that maximum satisfaction level from
market reports is from respondents of sharekhan with 70% very much satisfaction level .




From the above data and tabulation it has been analyzed that the maximum no. of
respondents very much satisfied from brokerage is from sharekhan.




From the above data and tabulation it has been analyzed that maximum level of satisfaction with
relationship managers is from sharekhan.




Analysis: From the above data and tabulation it is clear that most of the clients of sharekhan are
satisfied with the server speed, but it has to further strengthen its server speed to increase the
customer satisfaction level to be competent in the market.





Analysis : The data and chart depicts that most of the customers of Sharekhan are satisfied with
the availability of server. The chart indicates that it has to further improve the capability of the
server and bandwidth so that the target level of 90% could be achieved.



There are currently close to 50 online brokerages in India. However, due to limited
volumes, no online brokerage is currently making money and a shakeout is
imminent in the near future. The going is expected to get tougher with the advent
of capital account convertibility. Players such as PWC have already entered the
Indian market, while others such as Schwab are expected shortly. On an average,
Rs 40 crore per day (Rs 1,000 crore per month) is likely to be the threshold
breakeven for online brokerages. There is scope for multiple players as the entire
segment is in a growth stage.
While there are many factors that need to be understood to justify this assertion,
one simple fact is worthy of note. The average age of the Indian Internet user as
cited by a recent IDC survey is 27 years. The average age of the head (and
financial decision taker) of the Indian equity-investor household, as revealed by the
SEBI-NCAER study of Indian investors in 2000 is 45 years. The older,
experienced equity investor is not online today and the fact that older, mature
investors are not tech-positive and hence unlikely to move to online trading is a
major barrier to the growth of e-broking in India.
Besides, only scripts that have been compulsorily dematerialized can be traded on
the Net here. These number nearly 600 (about 1,500 and 6,000 scripts are traded on
the national stock Exchange (NSE) and the Bombay Stock Exchange (BSE),

Brand building, assurances of security, developing multiple delivery channels with

anytime telephonic grievance redressed options is some directions which may be of
use for the immediate future. Online trading firms can also market themselves
aggressively to students who are entering the professional arena, ensuring that their
entry into equity happens online. One of the major issues governing trading is the
prevailing uncertainty in the market.
Hence, notwithstanding the current sentiment in the market, potential for online
trading is still immense in India. With a more transparent system, increased
awareness, and a sustained bullish market we would surely be heading to become
the largest online stock trading country by the turn of the next decade.


There are a few constraints in achieving the targets assigned by the company
General public is not aware of the company because of no promotional
activities undertaken by the company.
People are reluctant in entering into share market as they think its a gamble to
invest in shares.
Sometimes the database is not provided then it becomes difficult to contact to
people as our work is mostly through telephonic conversation.
In last days of the previous it became more difficult to accomplish the target
because of the news of IPO scam in the share market.
Delhi being new to me there are very few persons whom I know so it is very
difficult get references from people staying here.

For rectifying above constraints I found some suggestions. These are :
Company should provide awareness to the public about the company by various
form of advertising like print media and as well as electronic media.
Company should aware the general public that now a days, the investors who
invest their money in share market earn very good profit.
Company should provide the database of the customers to their executives to do
contact with them easily.
Company should provide the knowledge to general public that Stock Exchange
Board of India (SEBI) controlled all the activities of the share market.


1. Do you invest presently in Shares?


2. In which following category you invest?


Mutual Funds




Derivatives [



3. With which broking house you are trading presently?


(ii)India bulls


Any other_________________
4. Your mode of Trading?





5. Awareness about online trading?

(i) Fully

(ii) Almost

(iii) Not exactly

6. What is your perception regarding your broker?



(ii) Good

(iii) Poor

7. Whether you like to trade online or offline?





8. How much satisfied you are with the research reports provided to you?

Very much satisfied




Less satisfied




Very much satisfied




Less satisfied

10. Are you satisfied with the Relationship Manager?


Very much satisfied




Somewhat satisfied

11. Are you satisfied with server speed?


Very much satisfied




Less satisfied

12. Are you satisfied with server availability?


Very much satisfied




Less satisfied











Books1. Kothari, C.R., Research methodology, New Delhi, Viswas Publication, 2004.
2. Pandian punithavathy. Security Analysis and Portfolio Management, vikas
publishing house pvt ltd.
3. Securities (Basic) Module of NCFM.