A PROJECT REPORT ON

“ONLINE TRADING”

AT EMKAY GLOBAL FINANCIAL

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 CONTENTS

CH. NO. PARTICULARS PAGE NO.

CHAPTER -1 INTRODUCTION

OBJECTIVES OF THE STUDY

NEED &IMPORTANCE OF THE STUDY

SCOPE OF THE STUDY

RESEARCH METHODOLOGY

LIMITATIONS OF THE STUDY

CHAPTER -2
REVIEW OF LITERATURE
CHAPTER -3 COMPANY PROFILE
INDUSTRY PROFILE
CHAPTER-4
ANALYSIS & INTERRETATION OF THE STUDY
CHAPTER -5 FINDINGS
SUGGESTIONS
CONCLUSIONS
CHAPTER-6 BIBLIOGRAPHY

APPENDIX
CHAPTER-7

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 ABSTRACT

Online commercialism symbolizes the proper natural action between technology and also the
mind listing intricacies of stock markets in transportation a couple of paradigm shift within
the method monetary markets operate in recent times. It facilitates quicker and economical
dealings of stocks and share through the internet, whereas maintaining the essential principles
of share commercialism intact. additionally to replication the normal stock commercialism
business on information superhighway, on-line commercialism has LED to the mushrooming
of a superfluity of peripheral business units within the variety of e-broking companies, web-
advisors, e-consultants, etc.
Across the world, bulk of the commercialism is being done through information
superhighway, provding on-line commercialism to be a rapid success among the investors
and intermediaries. It conjointly renders a harmonic integration of investors, e-broking
companies, banks, stock exchanges and also the depositories with the likelihood of a ‘single
window system’, within the close to future. Such,system can change the execution of trade
at‘t+o’, rather then the present ‘T+2’ time cycle. The emergence of high-tech mechanisms
like StraightThrough process (STP), Continuous Linking System (CLS) Associate
in Nursing Direct Access commercialism (DAT) platform is bound to create the dream of an
capitalist, obtaining his orders dead with the press of a mouse in 20-30 seconds, a reality.

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 CHAPTER-1
INTRODUCTION

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 INTRODUCTION
Online Trading refers to purchasing and Trading securities via the net or different electronic
means of communication that such a wireless access, touch-tone telephones, and different
new technologies. Technology is revolutionizing each field of human endeavor and activity.
The zoom in range, volume and worth of securities within the national capital market expose
the limitation of handling and dealing in securities in physical/Paper mode; the shortcomings
of the market became manifest in terms of unhealthy deliveries ,delays in transfer and
irregular settlement etc.
Primary market is additionally remarked as New Issue Market. Primary market
operations embrace new problems with shares by new and existing corporations, additional
and right problems to existing shareholders, public offers, and issue of debt instruments
reminiscent of debentures, bonds, etc.
The amount of listed corporations rose from 2265 in 1980 to over Rs. 6800 at the top
of 1998 the daily turnover consequently shot up Rs. twenty five crores in 1979-80 to
concerning Rs 260 crores in 1994-95the amount of shareholders enhanced from ten lakhs
in 1980 to 1.5 crores in 1995.
The range of share holder and investors in mutual funds has conjointly up
sharply from concerning two million to over forty million throughout this amount ,
rendering this nation to the position of getting the second largest capitalist population in
the world next solely to USA.
It eliminates the chance of unhealthy deliveries, that successively eliminates all
prices and wastage of your time related to follow up for rectification. This reduction in risk
related to unhealthy delivery has result in reduction in Brokerage to the extent of 0.5% by
quite few brokerage companies. Screen-based Trading facilitates the capitalist to stay a track
of the dealing from the supply to the top .He will enter the orders and see the results at the
lowest of the screen. Thus, one will get instant trade confirmation. The capitalist ought to
familiarise himself with order entry screen and also the code provided to him. Any mistake
created whereas inputting associate order will cause him vital monetary loss. Moreover, he
are going to be liable for any losses caused by lack of information and/or expertise. once
associate order is placed and dead, he becomes answerable for payment of the securities.
Active Trading depends upon variety of specialised code systems. Disruptions or failure
of associatey electronic systems utilised might lead the capitalist with an open position at
which era losses will occur.

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Definition of on-line Trading:
The more and more common activity of shopping for and Trading securities
over the net, or to a lesser extent, through a broker's proprietary code.
Process of on-line Trading:
Step-1:
Those investors curious about doing the Trading over websystem, that is, NEAT - ISX (NSE),
ought to approach the brokers and register with the Stock Broker.
Step-2:
After registration, the broker can give to them a login name, password and a private positive
identification (PIN).
Step-3:
Actual placement of associate order, exploitation the place order window as underneath will
then place associate order:
a)First by getting into the image and series of stock and different parameters reminiscent of
amount and worth of the certificate on the place order window.
b)Second, fill within the image, series and also the default amount.
Step-4:
It is the method of review. Thus, the capitalist needs to review the order placed by clicking
the review choice. He can also re-set to clear the values.
Step-5:
After the review has been satisfactory; the order needs to be sent by clicking on the send
choice.
Step-6:
The capitalist can receive associate "Order Confirmation" 'message at the side of the order
range and also the worth of the order.
Step- 7:
Just in case the order is rejected by the Broker or the stock market sure as shooting reasons
reminiscent of invalid worth limit, associate applicable message can seem at the lowest of the
screen. At present, a intermission of concerning 10 seconds is there in execution the trade.
Step-8:
It is concerning charging payment, that there ar completely different modes. Some brokers
can take some advance payment from the, investors and can fix their Trading limits. once the
trade is dead, the broker can raise the capitalist for transfer of funds by the capitalist to his
account.

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NEED FOR THE STUDY

Stock exchange is that the integral a part of the capital market it is the foremost good form of
marketplace for securities whether or not of government Semi-government bodies or
alternative public bodies as for shares and debentures issued by the joint stock
enterprise.
Securities market provides liquidity to the listed firms they provide quotations to the listed
firms and facilitate in commercialism raising funds from the market stock. Exchange
provides prepared Marketability and unequal facility for the transfer of possession of stock
shares and securities.
Stock market in Asian country|Bharat|Asiancountry|Asian nation is over century
recent and has functioning effectively through the medium of recognized stock
exchanges the securities market that is that the integral a part of the capital features a major
impact on the functioning of the economy successively the monsoon and agriculture
industrial growth and performance of the company sector in explicit reflection the basic
within the economy would influenced the a number of capital stock market and since the
capital market in taking part in a major role within the Indian economy from the past many
years there is an essential want to check the tone of the capital market in India.

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 OBJECTIVE OF THE STUDY

 The primary objective is to research the changes in mercantilism once the

Exchange
Shifted from outcry to on-line mercantilism system.
 The secondary objective is to review the functions of the EMKAY
GLOBALSERVICES PVT LTD and through varied departments.
 To apprehend the on-line screen primarily based mercantilism system adopted by
EMKAY GLOBALSERVICES PVT LTDand regarding it’s communication facilities . The
acceptable configuration to set the network that would link the EMKAY GLOBAL
SERVICES PVT LTDto individual/members.
 To understand the latest and future development in the stock exchange
Trading system . Clearly shaping every and each term of the stock market
trading procedure .
 To study investors reasons to trade on-line wherever investors have management over
their account will build their own call for his or her actions to freelance.

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 SCOPE OF THE STUDY

The scope of the study analyzes North American country to understand the however the web
commerce activities square measure meted out in EMKAY GLOBALSERVICES PVT
LTD.The commerce on stock market in Asian country accustomed present itself to open
outcry while not use of data technology for immediate matching or recording of trades.
This was time overwhelming and inefficient with obligatory limits on commerce
volumes and potency. so as to supply potency liquidity and transparency energy introduced a
national wide on-line absolutely machine-controlled Screen Based Trading System (SBTS).
Where a member will punch into the pc quantizes of securities and also the worth at that he
likes to interact square measure the interact means that exhausted as presently because it finds
an identical sales square measure purchase order from a counter party.
A SBTS electronically matched orders on a strict worth time priority and thence cuts
down on time, value and risk of error, additionally as on fraud leading to improved
operational potency. It permits quicker in corporation of worth sensitive data. In to prevailing
worth that will increase the data of potency of markets. It permits market participants several
of geographical location to trade with each other at the same time up the depth and liquidity
of the retail.It to you provides to obscurity by acceptive orders, massive or tiny the members
while not revealing there identity that providing equal access to everyone.It
additionally,provides an ideal audit worth it helps to resolve disputes by work within the trade
execution method in entity.
This pleased liquidity from different exchange and within the each initial year of the
operation. NSE become the leading stock market within the company, impacting the fortune
of different exchange and foretelling them adopt SBTS additionally.

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 RESEARCHMETHODOLOGY
Research methodology will help us to know what are the research methods, techniques used
in fulfilling the study conducted in EMKAY GLOBAL FINANCIAL SERVICES PVT
LTD.It also helps in giving scientific justification of the problems, which are all methods are
relevant and which are not relevant, why particular research method is appropriate for the
study.
Research Design:
Research design stands for advance planning of the methods adopted for collecting the
relevant data and techniques to be used in their analysis, keeping in view the objective of the
research and the availability of staff, time and money.
Sampling Design:
A sampling design is a procedure the researcher would adopt in selecting the items
for the sample. In fulfilling my project I have selected 100 employees randomly from
EMKAY GLOBAL FINANCIAL SERVICES PVT LTDto find out the Online Trading in the
organization and how it does brings bad or good impact for both Investors and the
organization.
In random sampling each and every item in the population have equal chance of inclusion in
the sample and each one of the possible samples has the same probability of being selected.
Type of Data Collection:
The collection of data can be classified into 2 categories
 Primary Data
 Secondary Data
Primary Data:
Primary data was collected through observing and interviewing employees of
EMKAY GLOBAL FINANCIAL SERVICES PVT LTDand through questionnaire method.
Secondary Data:
The secondary data has been collected from EMKAY GLOBAL FINANCIAL
SERVICES PVT LTDLTD’s website.
Structured questionnaire:
Structured questionnaire is a printed list of questions to be filled by the respondents.
The structured questions should be short as possible and simple to understand. The
questionnaire was designed such that it helps to elicit the accurate information.
Observation Method- This method is that subjective bias is eliminated. This is independent
of respondent’s willingness to respond.

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Interview Method- this method of data collection involves of oral-verbal stimuli and reply in
terms of oral-verbal response. In fulfilling this project in EMKAY GLOBAL FINANCIAL
SERVICES PVT LTDpersonal interview method is used i.e. direct personal investigation.

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 LIMITATIONS OF THE STUDY

• The study is confined to on-line commercialism procedure solely. complete analysis,

drawback of listing , management of trade , Securities Exchnage Board of India (SEBI)
pointers relating to aren't coated thanks to restricted time to stay the study in manageable
limits.

• Analysis has been finished in an exceedingly restricted boundary or space wherever

the data is lacking behind from different investors compared to entire geographic region.

• Getting acceptable response from the respondents.

• Getting appointment from the investors.

• The study is restricted to the programme.

• The study is restricted to current period of time.

• The study is solely for tutorial purpose.

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 CHAPTER-2
REVIEW OF LITERATURE

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 REVIEW OF LITERATURE
WEB BASED TRADING
Before getting in to the web based exchanging we should know a few things about the
web, web based business and so forth.
1. Web
Web is an around the world, self-administered system associating a few other littler
systems and a large number of PCs and people, to super wellsprings of data. This innovation
contracts huge separations, quickening the pace of business changes and upsetting the manner
in which organizations are overseen. It permits immediate, universal connects to anybody
anyplace and whenever to develop intuitive connections.
A mix of reality, called the Internet guarantees to get uncommon completely changes
us and business. Web or net is a between association of PC correspondence systems
traversing the whole globe, crossing every topographical limit. It has re-characterized the
techniques for correspondence, work contemplate, instruction, business, relaxation,
wellbeing, exchange, banking, trade and what not it is for all intents and purposes changing
everything and we are living in dot.com age. Net being an intelligent two route medium,
through different sites, empowers interest by people in business to business and business to
shopper trade, visit to shopping arcades, recreations, and so on in the internet even the data
can be replicated, downloaded and retransmitted.
The utilization of Internet has grown 2000 percent in a decade ago and is as of now
developing at 10 percent for each month. In India, development of Internet is of late
occasions. It is relied upon to get changes each practical zone of business movement
including the executives and monetary administrations. It offers stock exchanging at a lower
cost. Web can change the nature and limit of stock broking business in India.

2. Web based business

Electronic trade is related with purchasing and selling over PC correspondence
systems. It helps direct conventional business through better approach for exchanging and
preparing of data. Data is electronically exchanged from PC to PC in a robotized way.
Internet business alludes to the paperless trade of business data utilizing electronic
information bury change, electronic innovations. It diminishes manual procedures and paper
exchanges as well as encourages association move to a completely electronic condition and
change the manner in which they worked.
PC's and systems administration endeavours to present banks of the apparatuses and
advancements required for electronic trade. The PCs are either workstations of individual

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office works or serves where enormous databases and data live. System associates the two
classes of PCs; the different working frameworks are the most premise program inside a PC.
It deals with the assets of the PC framework in a reasonable and productive way.
Presently we can enter in to the idea known as internet exchanging.
Previously, speculators had no choice however to contact their dealer to get
continuous access to advertise information. The net expedites information to the financial
specialist line and net broking empowers him to exchange on a tick of mouse. Presently data
has turned out to be effectively open to both retail just as large financial specialist.

ADVANCEMENT OF BROKING IN INDIA:

The advancement of a broking in India can be ordered in three stages -
• Stockbrokers will offer on their destinations highlights, for example, live portfolio
director, live statements, statistical surveying and news, and so forth to pull in more
speculators.
• Brokers will offer internet broking and relationship the board by giving and offering
examination and data to speculators amid broking and non-broking hours dependent on their
profile and needs, for example altered administrations.
• Brokers (presently e-merchants) will offer esteem the executives or administrations
like first sale of stock on the web, on-line resource distribution, portfolio the executives,
money related arranging, charge arranging, protection administrations, and so forth and
empowers the financial specialists to take better and all around thought about choices.
The real meaning of "Web based Trading" is as clarified beneath:

"Web based exchanging is an administration offered on the web for buy and closeout of
offers. In reality you spot arranges on your stockbroker either verbally (by and by or
telephonically) or in a composed structure (fax)." In web based exchanging, you will get to a
stockbroker's site through your web empowered PC and spot arranges through the agent's
web based exchanging motor. These requests are directed to the stock trade without manual
intercession and executed consequently in a matter of a couple seconds.The net is utilized as
a method of exchanging web exchanging. Requests are conveyed to the stock trade through
site.
In India:
Web exchanging began in India on first April 2000 with 79 individuals looking for consent
for internet exchanging. The SEBI councils on web based securities exchanging
administrations has enabled the net to be utilized as an Order Routing System (ORS) through

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enrolled stock specialists for the benefit of their customers for execution of exchange. Under
the ORS the customer enters his prerequisites (security, amount, value purchase/sell) on
merchant's site.
Goals:
Web exchanging is relied upon to
• Increase straightforwardness in the business sectors,
• Enhance advertise quality through improved liquidity, by expanding quote
progression and market profundity,
• Reduce settlement chances because of open exchanges, by end of confounds,
• Provide the board data framework,
• Introduce adaptability in framework, in order to deal with developing volumes
effectively and to help across the nation extension of market action.
Moreover, through web exchanging three key targets of securities guideline can be effectively
accomplished, these are:
• Investor security
• Creation of a reasonable and effective market, and
• Reduction of the methodical dangers.
A portion of the intermediaries offering net exchanging incorporate ICICI direct, kotakstreet,
and so on.
Prerequisites for net exchanging:
For financial specialists:
1. Establishment of a PC with required determination
2. Establishment of a modem
3. Phone association
4. Enrollment for on-line exchanging with agent
5. A ledger
6. Safe record
7. Consistence with SEBI rules for net exchanging
The accompanying ought to be delivered to get a demat record and internet exchanging
account:

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As personality confirmation and address verification any of the accompanying:
• Voter ID card
• Driving permit
• PAN card( if there should arise an occurrence of to exchange more than 50000)
• Ration card
• Bank pass book
• Telephone bill
• Other prerequisites, which are fundamental
• First page of the bank pass book and most recent a half year articulation.
• Bank chief's mark alongside bank's seal, director enlistment code on photo.
For stock merchants:
1. Authorization from stock trade for net exchanging
2. Total assets of Rs. 50 lac
3. Satisfactory back-up framework
4. Verified and dependable programming framework
5. Sufficient, experienced and prepared staff
6. Correspondence of request (exchange affirmation to financial specialist by email)
8. Issue of agreement notes inside 24 hours of the exchange execution
9. Setting up a site.
The internet is utilized as a mechanism of exchanging web exchanging. Requests are
conveyed to the stock trade through site. Web exchanging began in India on first April 2000
with 79 individuals looking for consent for web based exchanging. The SEBI boards on web
based securities exchanging administrations has enabled the net to be utilized as an Order
Routing System (ORS) through enrolled stock intermediaries for the benefit of their
customers for execution of exchange.
Under the Order Routing System the customer enters his prerequisites (security,
amount, cost, and purchase/sell) in intermediary's site. They are checked electronically
against the customers account and steered electronically to the proper trade for execution by
the intermediary. The customer gets an affirmation on execution of the request. The client's
portfolio and record records get refreshed to mirror the exchange. The client ought to have
the client id and secret word to go into the electronic ring. He ought to likewise have demat
record and ledger. The framework allows just an enrolled customer to sign in utilizing client
id and secret phrase. Request can be put in utilizing spot request window of the site.

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Stage 1: Those financial specialists, who are keen on doing the exchanging over web
framework for example Perfect IXS, should approach the representatives and get them self
enrolled with the Stock Broker.
Stage 2: After enlistment, the dealer will give to them a Login name, Password and individual
recognizable proof number (PIN).
Stage 3: Actual situation of a request. A request would then be able to be submitted by
utilizing the spot request window as under:
(a) First by entering the image and arrangement of stock and different parameters like
amount and cost of the scrip on the spot request window.
(b) Second, fill in the image, arrangement and the default amount.
Stage 4: It is the procedure of survey. Along these lines, the financial specialist needs to
survey the request set by tapping the audit choice. He may likewise re-set to clear the
qualities.
Stage 5: After the audit has been attractive, the request must be sent by tapping on the send
choice.
Stage 6: The financial specialist will get a "Request Confirmation" message alongside the
request number and the estimation of the request.
Stage 7: on the off chance that the request is dismissed by the Broker or the Stock Exchange
for specific reasons, for example, invalid value limit, a suitable message will show up at the
base of the screen. At present, a period slack of around 10 seconds is there in executing the
exchange.
Stage 8: It is in regards to charging installment, for which there are distinctive mode. A few
specialists will take some propel installment from the financial specialist and will fix their
exchanging limits. At the point when the exchange is executed, the merchant will approach
the financial specialist for exchange of assets to his record.
Web exchanging gives all out straightforwardness between a representative and a speculator
in the optional market. In the open clamor framework, just the merchant knew the really
executed cost. Screen based exchanging gives more straightforwardness. With web based
exchanging investo
· Individuals can put resources into an assortment of items, dissimilar to prior when
individuals purchased securities, shared assets, and stock for long haul premise and sat on
them. Presently they can put resources into stocks, stock and record alternatives common
assets, government, and even protection.

Financial specialists REASONS TO TRADE ONLINE:

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They have command over their records, can settle on their own choices and don't need to give
purposes behind their activities. They are autonomous.
They have motivation to partake in the market and find out about it.
·It is fascinating, shoddy, simple, quick, and advantageous.
· A part of data is on the web so they can stay up with the latest with what's going on in
the exchanging scene.
· It will give financial specialists a more noteworthy decision and better
acknowledgment.
The quick effect will be rivalry and advantages will gather to the speculators.
It will prompt financier commissions going down and intermediaries endeavoring to build
business above water.
Investors will currently go to put, which have better exchanging conditions and furthermore
individuals to offer them better offices.
They approach various instruments to contribute, and can make their very own portfolio.
HERE ARE THE POSSIBLE DISADVANTAGES:
· When system crashes, there will be issues and deferrals because of an enormous flood
of quick web based exchanging criteria.
· Individuals are confined to direct money related direction. This just implies the
individual is himself/herself alone to.
· A charge (deals duty and esteem included assessment) assessment turns into an issue,
particularly when you are exchanging globally.
One has no clue with whom he is managing on the opposite end.
According to an examination led by Mary Rowland, cautious speculator: is internet
exchanging terrible for your portfolio, the more one exchanges the less returns one gets,
implying that a dependent merchant gets, diverted on the web and starts to exchange for a lot
of which causes misfortunes for him/her.
Individuals imagine that they are exchanging with the market legitimately and comprehend
what they are doing, yet in all actuality despite the fact that innovation has assumed control
over, the essential guidelines of exchanging are the equivalent. It appears that the mediator
has been evacuated, yet that isn't so. At the point when the people click on the mouse, his
exchange experiences an intermediary. The commissions online relate to the middle person.
There is a requirement for progressively viable correspondence interfaces over the Internet
and the capacity of the server to manage a huge volume of guests.

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STOCK EXCHANGES IN INDIA
Stock trades are the ideal kind of market for securities whether of government and semi-govt
bodies or other open bodies as likewise for offers and debentures issued by the business
entities. In the securities exchange, buys and offers of offers are influenced in states of free
challenge. Government securities are exchanged outside the exchanging ring the type of over
the counter deals or buy. The deals that are struck in the exchanging ring by the individuals
from the stock trades are at the most attractive costs controlled by the fundamental laws of
free market activity.
Meaning of a stock trade:
"Stock trade implies anyone or people whether fused or not, established to help, directing or
controlling the matter of purchasing, selling or managing in securities." The securities
include:
Shares of open organization.
Government securities.
Bonds
History of Stock Exchanges:
The main stock trades working in the nineteenth century were those of Mumbai setup in 1875
and Ahmedabad set up in 1894. These were sorted out as willful non-benefit checking
relationship of dealers to control and ensure their interests. Prior to the control on securities
under the constitution in 1950, it was a state subject and the Bombay securities contracts
(control) demonstration of 1925 used to manage exchanging securities. Under this
demonstration, the Mumbai stock trade was perceived in 1927 and Ahmedabad in 1937.
Amid the war blast, various stock trades were sorted out. Not long after it turned into a focal
subject, focal enactment was proposed and a board of trustees headed by A.D.Gorwala went
into the bill for securities guideline. Based on the board's suggestions and open exchange, the
securities contract (guideline) act progressed toward becoming law in 1956.
Elements of Stock Exchanges:
Stock trades give liquidity to the recorded organizations. By offering citations to the recorded
organizations, they help exchanging and raise assets from the market. Over the hundred and
twenty years amid which the stock trades have existed in this nation and through their
medium, the focal and state government have raised crores of rupees by drifting open
advances. Civil partnerships, trust and neighborhood bodies have acquired from the open
their money related prerequisites, and industry, exchange and business the foundation of the
nation's economy-have verified capital of crores or rupees through the issue of stocks, offers
and debentures for financing their everyday exercises, sorting out new pursuits and finishing

20
activities of extension, broadening and modernization. By getting the posting and exchanging
offices, open speculation is expanded and organizations had the option to raise more assets.
The cited organizations with wide open intrigue have delighted in certain advantages and
resources valuation has turned out to be simpler for assessment and different purposes.

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 CHAPTER-3
COMPANY PROFILE
INDUSTRY PROFILE

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 COMPANY PROFILE
Emkay GLOBALServices Ltd. could be a leader within the money services sector,
actively making wealth for our shoppers for nearly 20 years.Founded in 1995 with a
transparent goal of giving sound, research-backed money recommendation, we've got with
success served a large form of extremely distinguished patronage round the world; together
with foreign institutional investors (FIIs), domestic mutual funds, hedge funds, banks,
insurance firms, non-public equity companies, company homes, little and medium-sized
enterprises and high web price people (HNIs).
Independent thinking & robust elementary analysis, building robust and
semipermanent relationship with shoppers, and speedy execution victimization sturdy
technology - these square measure the Four pillars of the Emkay Institutional Equity Team.
Our aim is to feature price to our investors, UN agency square measure seeking opportunities
within the capital of India market. And to attain this target, our equity analysis, sales &
sales mercantilism, and company access groups add correct for the most effective attainable
results.
Emkay's Institutional Equity analysis capabilities square measure well-demonstrated
and appreciated across the trade. Emkay analysis is hierarchical twelfth within the list of
high equity analysis companies in Bharat as per the institutional capitalist Survey 2015. This
and plenty of awards that are bestowed upon our analysis team and analysis analysts over the
years substantiate our clients’ views.
Apart from our experience available analysis, Sector analysis, Thematic and Macro
Economic Strategy, our Institutional Equity analysis team is additionally well-known for its
specialization in distinguishing mid-tier firms too soon.Thus, through our stock exchange
investment analysis, you as associate degree capitalist will unlock price and generate robust
returns from these mid-sized firms within the long haul.
Emkay's equity analysis conjointly extends to various quantitative analysis. Our
knowledgeable analysis team often analyses the price of carry, put-call magnitude relation
analysis, volume and open interest analysis, and understood volatility analysis amongst
others. This conjointly includes victimization varied technical indicators and parameters for
obtain or sell recommendations.

A blend of various, in-depth and impactful analyses, Emkay's analysis capabilities square
measure well incontestable and appreciated across the trade. the numerous awards that are
bestowed upon our analysis team and analysts over the years substantiate our clients' views.

23
Emkay analysis is understood for its specialization in distinguishing mid-tier firms too soon,
that helps shoppers such as you relish robust returns within the long haul. it is also renowned
for its tailored analysis, conducted whereas taking under consideration a shoppers individual
analysis needs.
Our analysis is basically divided into: Perspective analysis, company analysis and
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Our non-public Wealth Management team has tried its bravery to the ten,000+ shoppers UN
agency have place their religion within the in a position hands of our wealth advisors and
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keywords stand out – freelance thinking, semipermanent relationships, and flexibility.Our
Investment Banking team systematically delivers high-quality strategic recommendation and
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muse ordered by this team that Emkay is rated in concert of the famous investment banking
companies in Bharat having associate degree expertise in Sector Names are: artefact Product,
NBFC, Packaging, IT & ITes, Defense material, motor vehicle element, Luxury Product
Distributor, Textile, Infrastructure, Engineering etcOur strength is our team of skilled
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sector facilitate USA provide the most effective strategic and money consultatory attainable.
robust relationships with regulators across the capitalist area permit USA to require this high-
quality Investment Banking service to a different higher level.We square measure a SEBI
registered class one merchandiser Banker.
Studying individual or teams of company firms, analyzing their money attractiveness
and rating them as potential investment avenues is bushed a day’s work for our experienced
analysis team. They take away into structure hierarchies, to money holdings, to possession
structures of handpicked company firms. Further, our exposure to giant companys and
managing their portfolios provide USA a deeper understanding of the basics of corporate
analysis.

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Sector analysis
Our analysis analysts build regular sector reports that provide a all-round read of key sectors.
Thereby serving to you indentify the sectors wherever you’d need to park your funds in.
Forecasts on wherever every sector is headed, analyses of current and historical performance
moreover as government policies and their impact on the chosen sector all kind integral parts
of our sectoral analysis reports.
Bespoke analysis
Bespoke analysis includes - finding out historical performance of a personal stock, sticking
out their future results and uncovering unknown facts concerning standard stocks that hold
the key to winning investment choices.
Our tailored analysis giving offers you the chance to explore approaching opportunities
armed with solid, perceptive analysis.
BOARD OF administrators
Mr. avatar Kumar Karwa
Managing Director
A rank holder from the Institute of hired Accountants of Bharat (ICAI), avatar Kumar Karwa
is that the Promoter, director of the corporate. Mr. Karwa encompasses a wealthy and varied
expertise of over twenty eight years all told aspects of the Equity Capital Markets and leads
the analysis, PMS and company consultatory divisions at Emkay. he's conjointly the director
at geographical area Paper Mills restricted
Mr. Prakash Kacholia
Managing Director
Mr. Dhananjay Sinha
Head of analysis, social scientist & strategian
Mr. Kenin Jain
Mr. Kenin Jain
Head - Institutional Equity Sales
Mr. S Hariharan
Mr. S Hariharan
Head - Sales mercantilism
Mr. Sachin monarch
Mr. Sachin monarch
Fund Manager
PEOPLE AND CULTURE

25
You can have all the proper ways within the world; however if you don’t have the proper
culture, you’re dead.
– Saint Patrick Whitesell
And that’s what Emkay believes. Our excellence and economical service to you is merely
attainable
because of happy, actuated workers – our greatest quality.
Experience is touted to be the most effective teacher in life. As Emkay’s shopper, you'd end
up addressing the proper mixture of adept, knowledgeable veterans and spirited professionals.
This balance of energy and knowledge in our money services business helps USA meet your
goals – be it within the sphere of institutional investment or wealth management.
To enhance this talent additional, we have a tendency to often conduct coaching and skills
development programs that guarantee innovative service. to feature to the current, we've got a
winning rewards & recognition program to make sure our individuals square measure
actuated.
OUR CULTURE OF SUCCESS
What keeps individuals at Emkay happy could be a contributive setting wherever successes
square measure shared and celebrated – each single one. And this can be what sets Emkay
apart – our ability to encourage the dreams of our individuals, started associate degree
inclusive work culture and feel in each team member’s accomplishment. After all, the
company’s growth is exponentially captivated with our employees’ excellence.
A key facet during this combine is appreciation – the nice and cozy feeling that each member
ought to feel concerning his or her contribution and accomplishment. At Emkay, this can be
an important a part of our work culture. we have a tendency to inherently relish each
individual’s success as a team.
Cross-organisational dialogue is one in every of the key strengths of Emkay’s open work
setting, one that we have a tendency to square measure pleased with. this can be why we've
got ensured associate degree open and extremely interactive work setting wherever
everybody communicates while not restrictions and concern.
Change is that the solely factor permanent. And this can be solely helpful if it leads towards
excellence.
At Emkay, we have a tendency to perpetually encourage our workers, analysts and managers
to enhance their skills and talent to urge the most effective attainable results. Persistent
development could be a key attribute of Emkay’s individuals. This unyielding determination
to present you the most effective and solely the most effective is that the underlying energy

26
that drives our individuals at Emkay. And this can be what ensures our shoppers return happy
and content with Emkay’s service.
EMKAY PROMISE
Handing over the responsibility for your finances involves huge trust. At Emkay, we have a
tendency to visit nice lengths to make sure we have a tendency to hold faithful your
expectations right from guaranteeing that each person from Emkay meets the set price
proposition. And, conjointly recall Emkay’s mission to be achieved together while not
rejection values that the corporate lives by.
Emkay's Mission
To provide our shoppers with secure, custom-built & comprehensive money solutions to
attain sustained growth.
Emkay’s Values
To be fair, sympathetic and responsive in serving our shoppers.
To respect and reinforce our fellow workers and also the power of cooperation.
To try unrelentingly to enhance what we have a tendency to do and the way we have a
tendency to have a go at it.
To continually earn and be merit our customers' trust.
SWOT - Strengths
-skilled hands
-barriers of market entry
-domestic market
SWOT - Weaknesses
-brand portfolio
SWOT - Opportunities
-global markets
-new merchandise and services
-new markets
-income level is at a continuing increase
-growing economy

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 INDUSTRY PROFILE

Cash is the pre-basic for current business and budgetary associations expect a basic
employment in the financial system. It is through budgetary markets and foundations that the
money related game plan of an economy works. Financial markets imply the institutional
courses of action for overseeing in budgetary assets and credit instruments of different sorts,
for instance, cash, checks, bank stores, charges, securities, values, etc.
Cash related market is a far reaching term delineating any business focus where buyers and
dealers participate in the trading of advantages, for instance, values, securities, fiscal
structures and auxiliaries. They are commonly portrayed by having clear assessing,
fundamental rules on trading, costs and charges and market powers choosing the expenses of
securities that trade.
Generally, there is no specific spot or zone to demonstrate a cash related market. Wherever a
cash related trade occurs, it is considered to have happened in the budgetary market. In this
manner cash related markets are unavoidable in nature since budgetary trades are themselves
unpreventable all through the monetary structure. For instance, issue of significant worth
offers, permitting of credit by term advancing foundations, store of money into a bank,
purchase of debentures, closeout of offers, and so forth.
Pretty much, cash related markets are the credit markets considering the various needs of the
general population, firms and foundations by empowering acquiring and selling of budgetary
assets, cases and organizations.
The capital market is a business open entryway for monetary resources which have a long or
questionable headway. Surrounding, it supervises entire arrangement securities which have a
time of over one year. In the broadest sense, it incorporates a development of channels
through which the hypothesis resources of the framework are made accessible for mechanical
and business tries and open bosses. With everything considered, capital market empowers
raising of capital.

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As far as possible performed by a capital market are:
1. Mobilization of monetary assets on a the nation over scale.
2. Securing the remote capital and fitness to complete off inadequacy in the required
assets for cash related progression at a snappier rate.
Effective flow of the prepared money related assets, by controlling the proportionate to
experiences yielding most raised yield or to the assignments expected to advance adjusted
cash related improvement.
Fundamental market: Primary market is a business open entryway for new issues or new cash
related cases. Starting now and into the foreseeable future it is comparably called as New
Issue Market. It on an extremely essential dimension manages those securities which are
issued to the comprehensive network out of the blue. The market, thusly, makes accessible
another square of securities for open enlistment. Constantly end, it regulates raising of crisp
capital by affiliations either for money or for thought other than money. Similarly as could be
typical be Initial Public Offering (IPO) where a firm plans to general society out of the blue.

Optional market: Secondary market is the spot existing securities are exchanged. Constantly
end, securities which have as of late experienced new issue show off are exchanged this
market. For the most part, such securities are refered to in the stock trade and it gives a steady
and standard market for purchasing and selling of securities. This market incorporates each
stock trade seen by the association of India.
Currency markets are the business divisions for present moment, altogether fluid duty
securities. Money show off securities are normally exceptionally safe theories which return
regularly low credit cost that is most fitting for brief money collecting or transient time needs.
It incorporates diverse sub-markets which everything considered set up the money show off
to be express call cash expose, business charges advance, certification market, and Treasury
charge display.

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Administrative FRAME WORK OF STOCK EXCHANGE
A far reaching lawful structure was given by the "Securities Contract Regulation Act, 1956"
and "Securities Exchange Board of India 1952". Three level administrative structure
containing

 Ministry of account

 The Securities And Exchange Board of India

 Governing body

Individuals from the stock trade:

The securities contract guideline act 1956 has given uniform guideline to the affirmation of
individuals in the stock trades. The capabilities for turning into an individual from a
perceived stock trade are given underneath:

• The least age endorsed for the individuals is 21 years.

• He ought to be an Indian resident.

• He ought to be neither a bankrupt nor compound with the loan bosses.

• He ought not be indicted for extortion or deceitfulness.

• He ought not be occupied with some other business associated with an organization.

• He ought not be a defaulter of some other stock trade.

• The least required instruction is a go in twelfth standard examination.

SECURITIES AND EXCHANGE BOARD OF INDIA (SEBI)

The securities and trade leading group of India was comprised in 1988 under a goals of
administration of India. It was later made statutory body by the SEBI demonstration
1992.according to this demonstration, the SEBI will establish of an executive and four
different individuals named by the focal government.

With the becoming effective of the securities and trade leading group of India act, 1992 a
portion of the forces and capacities practiced by the focal government, in regard of the
guideline of stock trade were exchanged to the SEBI.

30
 TARGETS AND FUNCTIONS OF SEBI

• To ensure the enthusiasm of financial specialists in securities.

• Regulating the business in stock trades and some other securities showcase.

• Registering and managing the working of middle people related with securities
showcase just as working of shared assets.

• Promoting and managing self-administrative associations.

• Prohibiting insider exchanging securities.

• Regulating significant securing of offers and take over of organizations.

• Performing such capacities and practicing such powers under the arrangements of
capital issues (control) act, 1947and the securities to it by the focal government.

SEBI GUIDELINES TO SECONDARY MARKETS: (STOCK EXCHANGES):

Top managerial staff of Stock Exchange must be reconstituted in order to incorporate non-
individuals, open agents and government delegates to the degree of half of complete number
of individuals.

• Capital sufficiency standards have been set down for the individuals from different
stock trades relying on their turnover of exchange and different elements.

• All perceived stock trades should advise about exchanges inside 24 hrs.

KINDS OF ORDERS:

Purchase and sell requests set with individuals from the stock trade by the speculators. The
requests are of various kinds.

Breaking point orders: Orders are constrained by a fixed cost. For example 'purchase
Reliance Petroleum at Rs.50.'Here, the request has unmistakably shown the cost at which it
must be purchased and the financial specialist isn't happy to give more than Rs.50.

Best rate request: Here, the purchaser or dealer gives the opportunity to the merchant to
execute the request at the most ideal rate cited on the specific date for purchasing. It might be
most minimal rate for purchasing and most astounding rate for selling.

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Purchasing and pitching shares: To purchase and offer the offers the speculator needs to find
register representative or sub agent who render brief and proficient administration to him.
The request to purchase or sell determining the quantity of offers of the organization of
financial specialists' decision is set with the dealer. The request might be of any kind. In the
wake of getting the request the dealer endeavors to execute the request in his work station.
When coordinating request is discovered, the request is executed. The specialist at that point
conveys the agreement note to the financial specialist. It gives the insights about the name of
the organization, number of offers purchased, value, financier, and the date of conveyance of
offer. In this physical exchanging structure, when the dealer gets the offer testament through
the clearing houses he conveys the offer endorsement alongside exchange deed to the
financial specialist. The financial specialist needs to fill the exchange deed and stamp it. The
stamp obligation is one of the rate contemplations, the financial specialist should hold up the
offer declaration and exchange deed to the register or exchange operator of the organization.
On the off chance that it is purchased in the DEMAT structure, the specialist needs to give a
coordinating guidance to his storehouse member to exchange offers purchased to the
speculators account. The financial specialist ought to be account holder in any of the safe
member. On account of clearance of offers on getting installment from the acquiring expedite,
the merchant impacts the installment to the financial specialist.

Offer gatherings: The scrips exchanged on the BSE have been ordered into 'A','B1','B2','C','F'
and 'Z' gatherings. The 'A' bunch speaks to those, which are in the convey forward
framework. The 'F' bunch speaks to the obligation market portion (fixed salary securities).
The Z bunch scrips are of the boycotted organizations. The 'C' bunch covers the odd parcel
securities in 'A', 'B1'&'B2' gatherings.

MOVING SETTLEMENT SYSTEM:

Under moving settlement framework, the settlement happens n days (normally 1, 2, 3 or

5days) after the exchanging day. The offers purchased and sold are paid in for n days after the
exchanging day of the specific exchange. Offer settlement is probably going to be finished
much sooner after the exchange than under the fixed settlement framework.

The moving settlement framework is noted by T+N for example the settlement time frame is
n days after the exchanging day. A moving period which offers an enormous number of days
refutes the upsides of the framework. For the most part longer settlement time frames are
abbreviated step by step.

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SEBI made RS necessary for exchanging 10 securities chose based on the criteria that they
were in obligatory demat list and had day by day turnover of about Rs.1 crore or more. At
that point it was stretched out to "A" stocks in Modified Carry Forward Scheme, Automated
Lending and Borrowing Mechanism (ALBM) and Borrowing and loaning Securities Scheme
(BELSS) with impact from Dec 31, 2001.

SEBI has presented T+5 moving settlement in value showcase from July 2001 and in this
way abbreviated the cycle to T+3 from April 2002. After the T+3 moving settlement
experience it was additionally decreased to T+2 to lessen the hazard in the market and to
shield the enthusiasm of the speculators from first April 2003.

Exercises on T+1: adaptation of the institutional exchanges by the caretaker is sent to the
stock trade by 11.00 am. An arrangement of a special case window would be accessible for
late affirmation. As far as possible and the extra changes for the special case window are
devoted by the trade.

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 CHAPTER-4
DATA ANALYSIS

34
 DATA ANALYSIS & INTERPRETATION

1. Awareness of online trading

PARTICULARS INVESTORS RESPONSE

Yes 90

No 10

TOTAL 100

Graph 1:

INVESTORS RESPONSE

INVESTORS RESPONSE

INTERPRETATION:
From the above graph we can say that 90% of the people are aware of online trading and 10%
of them are not aware of it.

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2.Participation in the share market

PARTICULARS INVESTORS RESPONSE

Yes 63

No 37

TOTAL 100

Graph 2:

INVESTORS RESPONSE

INVESTORS RESPONSE

INTERPRETATION:

From the above graph we can say that 63% people actively participate in share market and
37% of do not participate.

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3. Which Online investors of various categories

PARTICULARS INVESTORS RESPONSE

Uncertain newcomer 33

Moderate active trader 27

Active day trader 27

Hands in every pot 13

TOTAL 100

Graph 3:

INVESTORS RESPONSE

INVESTORS RESPONSE

INTERPRETATION:

The above graph depicts that 33% of them are uncertain newcomer, 27% of them belong to
moderate active trader category and active day trader and 13% of them belongs to hand in
every pot category.

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4.Demat Account Customers

PARTICULARS INVESTORS RESPONSE

Yes 67

No 33

TOTAL 100

Graph .4:

INVESTORS RESPONSE

INVESTORS RESPONSE

INTERPRETATION:

From the above graph we can say that 67% of the investors have Demat account and 33% of
them doesn’t have Demat account.

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 5.The depository you take into consideration for accessing Demat account

PARTICULARS INVESTORS RESPONSE

NSDL 77

CDSL 23

TOTAL 100

Graph 5:

INVESTORS RESPONSE

INVESTORS RESPONSE

INTERPRETATION:

From the above graph we can say that 77%of the people are in favour of NSDL depository
and 23% are in favour of CDSL depository.

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6.Favour of Demat Account

PARTICULARS INVESTORS RESPONSE

Yes 77

No 23

TOTAL 100

Graph 6:

Chart Title

INTERPRETATION:

From the above graph we can say that 77% of the people are in favour of demat account and
23% of them are not in favour of it.

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7.Most Preferable Attribute While Investing

PARTICULARS INVESTORS RESPONSE

Rate of return 40
Liquidity 43
Convenience 7
Regulation 10
TOTAL 100

Graph 7:

INVESTORS RESPONSE

INVESTORS RESPONSE

INTERPRETATION:

From the above graph we can say that Liquidity(43%) is most preferable among all the
attributes.

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8.Awareness on the Nature of risk involved in online Trading

PARTICULARS INVESTORS RESPONSE

Yes 83

No 17

TOTAL 100

Graph 8:

INVESTORS RESPONSE

INVESTORS RESPONSE

INTERPRETATION:

From the above graph we can say that (83%)majority of the people are aware of risk involved
in online trading.

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9.Brokers Activities Involved in Online Trading

PARTICULARS INVESTORS RESPONSE

Yes 50

No 50

TOTAL 100

Graph 9:

INVESTORS RESPONSE

INVESTORS RESPONSE

INTERPRETATION:

From the above graph we can say that 50% of the investors check brokers activities and 50%
do not check.

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10.The System do you feel more Convenient in Trading

PARTICULARS INVESTORS RESPONSE

Yes 20

No 80

TOTAL 100

Graph 10:

INVESTORS RESPONSE

INVESTORS RESPONSE

INTERPRETATION:

From the above graph we can say that 80% of the people are in favour of screen based
trading and 20% of them in favour of outcry system.

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 CHAPTER-5
FINDINGS,SUGGESTIONS
,CONCLUSION

45
 FINDINGS
1. on-line mercantilism is a lot of powerful & advantageous than manual mercantilism.
2. The code or the systems utilized in on-line mercantilism ought to be advanced and also the
persons WHO operate ought to have minimum information.
3. Tips ar accessible for mercantilism on-line and invest showing wisdom. in order that the
capitalist will avoid the fraud.
4. It ought to increase the speed of death penalty the orders.
5. because of invention of on-line mercantilism here has been larger profit to the investors as
they might buy/sell shares as and once needed.
6. it's to require necessary steps to draw in the purchasers through the net.
7. Instant checking account ought to be provided because the alternative firms ar providing.
8. It ought to have separate department for portfolio management.
9. Most of the investors prefer to trade together with brokers.
10. on-line makes direct contact between the investors and it avoids the presence of
middleman.
11. on-line mercantilism reduces the trade time.
12. Majority of the individuals take into account security as a very important issue for on-line
mercantilism, whereas thirty three respondents trouble this reality. 5 individuals have neutral
opinion.
13. most quantity of individuals value more highly to trade Equity on-line.
14. The second preference is to trade Portfolio Management. regarding eighteen deals in
Commodities and twelve deal in Future and choices.

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 SUGGESTIONS

• The suggestion to exchange authorities is to require steps to teach investors regarding

their rights and obligation, attempt to increase investor’s confidence.
• I counsel the exchange authorities to be watchful to curb wide fluctuations costs|of
costs} on the exchanges within the prices ,not attracting to the real investors to the larger
extents towards the market .
• Try to clarify them however fraud can crop up in order that they'll be alert and that
they will take necessary steps to avoid the frauds.
• Genuine investors don't seem to be in any respect fascinated by the speculative gain
as their investment is predicated on the long run profits, so the authorities of exchange ought
to be a lot of watchful in imposing significant margin to curb the speculative of securities.
• The firms ought to return up with a lot of and a lot of innovative options in their
internet portals.
• The client ought to be educated frequently relating to the new technologies and of on-
line mercantilism and additionally different relevant data
• The firms ought to create efforts to market on-line mercantilism and build awareness
regarding its edges.
• The firms ought to take care of to develop a lot of safe and secure ways that of
transacting business on-line.
• The firms ought to create most efforts to notice fraud cases and minimize them.

47
 CONCLUSION
Due to changes in technology EMKAY international monetary SERVICES PVT
LTDhas modified its commercialism activities into on-line commercialism system. in order
that transactions are going to be performed with efficiency. Things have modified for the
higher with the EMKAY international monetary SERVICES PVT LTDgoing on-line let alone
endeavors to stream line the full commercialism system, factor have modified dramatically
over the last 3-4 years. New and advanced technologies have broken geographical and
cultural barriers and have brought the country wide market to doorsill.
within the gift state of affairs and to vie the RSE’s would need sound infrastructure and
trading as per international standards . The idea of business have modified and nowadays it's
become service to purchasers or to supply the simplest attainable service to purchasers or to
interact into new business practices within the alternative exchanges of the planet .
so as to stem the flow of business from the regional center to the tube centers and to
impart liquidity introductions of on-line commercialism is critical .i.e demand of the day
presently. Tips area unit out there for commercialism on-line and to speculate sagely, in order
that the investors will avoid the frauds.
The introductions of on-line commercialism would influence in the investors
ensuing in AN increase within the business of the exchange. it's helped the brokers handling
a huge quantity of transactions and this will be achieved through delivering and
settlement system with adequate protections to investors system. The commercialism of
EMKAY international monetary SERVICES PVT LTDon the 1st day was Rs.1.8 crores
because of invention of on-line commercialism there has been larger profit to the investors as
they may sell or buy shares as and once needed which to with on-line commercialism can
inspire confidence in investors leading to increase in business of exchange.

48
 QUESTIONNAIRE
1. Are you aware of online trading?
(a) Yes (b) No

2. Do you actively participate in the share market?

(a) Yes (b) No

3. Which online investor category you belong to?

(a)Uncertain newcomer (b) Moderate active trader
(c)Active day trader (d) Hand in every pot

4. Do you have a Demat account?

(a)Yes (b)No

5. Which depository do you take into consideration for accessing Demat account?
(a)National Securities Depository Limited (NSDL)
(b)Central Depository Services Limited (CDSL)

6. Are you in favour of Demat account?

(a)Yes (b) No

7. Which is the most preferable attribute while investing? Comment…

(a) Rate of return (b) Liquidity
(c) Convenience (d) Regulation

8. Are you aware the nature of risk involved in online trading?

(a) Yes (b) No

9. Do you check brokers activity involved in online trading?

(a) Yes (b) No

10. Which system do you feel more convenient in trading?

(a) Outcry system (b) Screen based system

49
 BIBILIOGRAPHY

REFERENCE BOOKS:

 Investment Analysis and Portfolio Management - Prasanna Chandra

 Financial Management –Khan and Jain

WEBSITES:

 www.nseindia.com

 www.bseindia.com

 www.siainvestor.com

wwww.tata capital.com

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