Chapter-1

INTRODUCTION

SECURITIES CONCEPT
A Securities is trust that pools the savings of a number of investors who
share common financial goal, investments may be in shares, debt securities,
money market securities or a combination of these. Those securities are
professionally managed on behalf of the unit-holders, and each investor holds a
pro-data share of the portfolio i.e. entitled to any profits when the securities are
sold, but subject to any losses in value as well.
The income earned through these investments and the capital
appreciations realized are shared by its unit holders in proportion to the number
of units owned by them. Thus a Securities is most suitable investment for the
common man as it offers an opportunity to invest in diversified, professionally
managed basket of securities at a relatively low cost.
 PERFORMANCE OF SECURITIES IN INDIA
Let us start the discussion of the performance of Securities in India from
the day of concept of Securities took birth in India. The year was 1963, UTI invited
investors or rather to those who believed in saving, to park their money in UTI
Securities.
For 30 years it goaled without a single second player. Through the 1988
year saw some new Securities companies, nut UTI remained in monopoly
position.
The performance of Securities in Indian in initial phase was not closer to
satisfactory level. People rarely understood and course investing was out of
question. But yes some 24million shareholders were accustomed with
guaranteed high returns by the beginning of liberalization of the industry 1992.
This good record of UTI became marketing tool for new entrants. The
expectations of the investors touched the sky in profitability factor. However,
people were miles away from the preparedness of risks factor after the
liberalization.
The AUM of UTI was Rs. 67billion, by the end of 1987. Let me concentrate
about the performance of Securities in India through figures. From Rs. 67billion,
the AUM raise to Rs. 470billion in March 1993 and the figure had a 3 times higher
performance by April 2004. It raise as high as Rs. 1,540billion.
The Net Asset value (NAV) of Securities in India declined when stock prices
started falling in the year 1992. Those days, the market regulation did not allow
portfolio shifts into alternative investments. These were rather no choices apart
from holding the cash or to further continue investing in shares. One more thing
to be noted, since only closed-end Funds were floated in the market, the
investors disinvested by selling at a loss in the secondary market.

The performance of Securities in India suffered qualitatively. The 1992

Stock Market scandals the losses by dis-investments and off course the lack of
transparent rules in the where about rocked confidence among the investors.
Partly owing to relatively weak Stock Market performance. Securities have not
yet recovered, with Funds trading at an average discount of 1020% of their NAV.
The supervisory adopted a set of measures to create a transparent and
competitive environment in Securities. Some of them were like relaxing
investment restrictions into the market, introduction of Open-ended Funds and
paving the gateway for Securities launch pension Schemes.
The measure was taken to make Securities the key instrument for long-
term saving. The more the variety offered, the quantitative will be investors.
At last to mention, as long as Securities Companies are performing with
lower risks and higher profitability within a short span of time, more and people
will be inclined to invest until and unless they are fully educated with the dos or
don’ts of Securities.
 HOW DOES A SECURITIES WORK?

MAJOR SECURITIES IN INDIA

 IDBI Principal Securities.
 Zurich India Securities.
 Alliance Capital Securities.
  HDFC Securities.
 UTI Securities.
 TATA Securities.
 SBI Securities.
 Birla Sunlife Securities.
 CAN Bank Securities.
 RELIANCE Capital Securities.
 ESCORT Securities.
 Franklin Templeton Securities
 Sidearm Securities.
 Cholamandal Securities.
 Kothari Pioneed Securities.
 Kodak Mahindra Securities.
 Prudential ICICI Securities.
 J M Securities.
 IL and FS Securities.
 ING Saving Trust Securities.
 Sun F and C Securities.
 ANZ Grind lays Securities.
 BOB Securities.
 DSP Merillynch Securities.
 Dundee Securities.
 GIC Securities.
 LIC Securities.
 PNB Securities.

SECURITIES- ORGANIZATION
There are many entities involved and the diagram below illustrate the
organization set up of Securities
THE STRUCTURE CONSISTS OF :-
Sponsor:-
Sponsor is the person who acting or in combination with another body
corporate establishes a Securities. Sponsor must contribute at least 40% of the
net worth of the Investment Managed and meet the eligibility criteria prescribed
under the Securities and Exchange Board of India (Securities) Regulation, 1996.
The Sponsor is not responsible or liable for any loss or shortfall resulting from the
operation of the Schemes beyond the initial contribution made by it towards
setting up of the Securities.
Trust:-
The Securities is constituted as trust in accordance with the provision of
the Indian Trust Act, 1882 by the Sponsor. The Trust deed is registered under the
Indian Regulation Act, 1908.

Trustee:-
Trustee is usually a company (corporate body) or a Board of Trustees (body
of individuals). The main responsibility of the Trustee is to safeguard the interest
of the unit holders and inter alias ensure that the AMC function in the interest of
investors and in accordance with the Securities and Exchange Board of India
(Securities) Regulation, 1996, the provision of the Trust Deed and the Offer
Documents of the respective Schemes. At least 2/3rd directors of the Trustee are
independent directors who are not associated with the Sponsor in any manner.
Asset Management Company (AMC):-
 The Trustee as the Investment Manager of the Securities appoints the
AMC. The AMC is required to be approved by the SEBI to act as an asset
management company of the Securities. At least 50% of the directors of AMC are
an independent director who is not associated with the Sponsor in any manner.
The AMC must have a net worth of at least 10 corers at all times.
Registrar and Transfer Agent:-
The AMC if so authorized by the Trust Deed appoints the Registrar and
Transfer Agent to the Securities. The Registrar processes the application form
redemption request and dispatches account statement to the unit holders. The
Registrar and Transfer Agent also handle communication with investors and
updates investor records.
 ADVANTAGES OF SECURITIES

The Advantages of Investing in a Securities :-

Diversification:-
The best Securities designs their portfolio so individual investment will
react differently to the same economic conditions. For example, economic
conditions like rise in interest rates may cause certain securities in a diversified
portfolio to decrease in value. Other securities in portfolio will respond to the
same economic conditions by increasing in value. When a portfolio is balanced in
this way, the value of the overall portfolio should gradually increase over time,
even if some securities lose value.
Professional Management:-
Most Securities pay topflight professional to manage their investment.
These managers decide what securities the fund will buy and sell.
Regulatory Oversight:-
Securities are subject to many government regulations that protect
investors from fraud.
Liquidity:-
It’s easy to get your money out of Securities. Write a check, make a call,
and you’ve got the cash.
Convenience:-
You can usually buy Securities shares by mail, phone or over the Internet.

Low cost:-
Securities expenses are often no more than 1.5% of your investment.
Expenses for Index finds are less than that, because index funds are not actively
managed. Instead they automatically buy stock bin companies that are listed on
specific index.
Transparency
Flexibility
Choice of Scheme
Tax Benefit
Well Regulated
 DRAWBACK OF SECURITIES

Securities have their drawbacks and may not be for everyone

No Guarantees:-
No investment is risk free. If the entire stock market declines in value, the
value of Securities share will go down as well, no matter how balanced the
portfolio. Investors encounter fewer risks when they invest in Securities than
when they buy and sell stock on their own. However, anyone who invests through
a Securities runs the risk of losing money.
Fees and Commission:-
All funds charge administrative fees to cover their day-to-day expenses.
Some funds also charge sales commission or “loads” to compensate broker,
financial consultants, or financial planner. Even if you don’t use a broker or other
financial advisor, you will pay a sales commissions if you but shares in a Load
Fund.
Taxes:-
During a typical year, most actively managed Securities sell anywhere from
20% to 70% of the securities in their portfolio. If your funds make a profit on its
sales, you will pay taxes on the income you receive, even if you reinvest the
money you made.
Management Risk:-
When you invest in Securities, you depend on the fund’s manager to make
the right decision regarding the fund’s portfolio. If the manager does not perform
as well as you had hoped, you might not make much money on your investment
as you expected. Of course, if you invest in index funds, you forego management
risk, because these funds do not employ managers.
 TAURUS Securities.
 Morgan Stanley Securities.
 HB Securities.
 Asia Pacific Securities.
 Apple Securities.
 TYPES OF SECURITIES
Securities are free to design their schemes (subject to SEBI regulations).
Securities to suit the need of various investors. Broadly Securities schemes can
be dividing into open-ended and close-ended.
Open-ended Scheme:-
An open-ended fund is one that is available for subscription all through the
year. These do not have a fixed maturity. Investors can conveniently buy and sell
units at Net Asset Value (NAV) related prices. The key feature of open-ended
scheme is liquidity.
Close-ended Schemes:-
These schemes have a pre-specified maturity period. One can invest
directly in the scheme at the time of the initial issue. Depending on the structure
of the scheme there are two exit options available to an investor after the initial
offer period closes. Investor can transact (buy or sell) the units of the schemes on
the stock exchange where they are listed. The market price at the stock exchange
could vary from the Net Assets Value (NAV) of the scheme on account of demand
and supply situation, expectations of unit holder and other market factors.
Alternatively some closed-ended schemes provide an additional option of selling
the units directly to the Securities through periodic repurchase at the schemes
NAV. However one cannot buy units and can only sell units during the liquidity
window. SEBI Regulations ensures that at least one of the two exit routes is
provided to the investor.
The close-ended scheme has a fixed corpus and operates for fixed.
Period:-
At the time of maturity, the entire corpus is disinvested and the proceeds
are distributed to the unit holders in proportion to their holdings after deduction
of the expenses of the fund by its trustees.
 Shares
Meaning of Shares:-
An interest having a money value and made up of diverse rights specified
under articles of association.
A share is evidence by a share certificate. A share certificate is issued by a
company under its common seal.
A share is the interest of a shareholder in company. The capital of company
is divided into certain indivisible units of a fixed amount. These units are called
Shares. Share means share in the share capital of the company.
Types of Share:-
 Equity Shares
 Preference Shares

Equity Share:-
Equity Shares also called as ownership Shares, which do not enjoy any
preferential rights either in respect of the payment divided or in respect of the
re-payment of capital at the time of winding up of the company. The holders of
these Shares are the real owners of the company.

Preference Shares:-
Preference shares are shares which have preferential rights that is First
priority or preference over other kinds of shares in respect of payment of
divided during the existence of the company and also in respect of repayment
or refund of share capital in the event of the winding up of company, the share
are known as preference shares.
Types of Preference Shares:-
 Cumulative Preference Shares.
 Non-Cumulative Preference Shares.
 Participating Preference Shares.
  Non-Participating Preference Shares.
 Convertible Preference Shares.
 Non-Convertible Preference Shares.
 Redeemable Preference Shares.

Debentures
The term Debenture is derived from the Latin word ‘Debere’ meaning ‘to
owe’. So literally debenture means a document acknowledging a debt.
Debenture signifies an instrument under seal evidencing a debt the
essence of its being the admission of in debit nets.
Debenture is an instrument issued by a company under its common seal,
acknowledging a debt to some person and containing an undertaking to repay
the debt after a specified date or a particular date or at the option of the company
and to pay interest at a fixed rate and at regular intervals.

Kinds of Debentures:-
Debenture is of many kinds they are:-
From the point of view of transferability debentures may be classified in to 2
types:-
Simple, Naked or Unsecured Debenture:-
Simple debentures are those which are issued with a mere promise to pay
the interest and to repay the interest and to pay the principal without any charge
on the assets of the company.
Mortgage or secure Debentures:-
Secured Debentures are those debentures which are secured by a charge
on the assets of the company. The charge may be or specified or a floating charge.
From the point of view of redemption debentures may be divided into two
classes:-
Redeemable Debentures:-
Redeemable debentures are those debentures which are repayable on a
certain date or after a specified period.
Irredeemable Debentures:-
The term irredeemable Debentures mean that there is no time or specified
or fixed for the repayment of these debentures. The holders of these Debentures
cannot demand the repayment.

From the point of view of their convertibility Debentures may be classified into
two kinds:-
Convertibility Debentures:-
Convertibility Debenture are those debentures, in an option is given to the
holders to convert them into preference shares or equity shares after a specified
period, say after 10 years or 15 years.
Non-Convertibility Debentures:-
Non-Convertibility Debentures are those, which are not convertible into
preference shares or equity shares at the options of the debentures holders.

BRIEF PROFILE OF THE COMPANY

 KARVY CORPORATE
Karvy corporate is financial services headquartered in Hyderabad, India.

HISTORY
Karvy Corporate was established in the year 1983 and is now headed by Mr. Parthasarathy as
Chairman. The group has more than 16000 employees, spanning 900 offices in about 400
cities and town. In the mid 1990s Karvy forayed into stock broking and advisory businesses.
Later, in the early2000s, Karvy corporate ventured into commodity trading. With the
introduction of currency trading, Karvy corporate is also in the business of Forex trading. In
September2008, the group launched on online trading and investment portal offering an
extensive range of financial products and solutions across different classes.

KARVY'S MISSION
"Our mission is to be a leading and preferred service provider to our customers, and we aim
to achieve this leadership position by building an innovative, enterprising, and technology
driven organization which will set the highest standard of service and business ethics".
An organization exists to accomplish something or achieve something. The mission statement
indicates what an organization wants to achieve. The mission statement may be changed
periodically to take advantage of new opportunities or respond to new market conditions.
Karvy's mission statement is "To bring Industry, Finance and People together."
Karvy is work as intermediary between industry and people. Karvy work as investment advisor
and helps people to invest their money same way Karvy helps industry in achieving finance
from people by issuing shares, debentures, bonds mutual funds, fixed deposit etc. Company's
mission statement is clear and thoughtful which guide geographically dispersed employees to
work independently yet collectively towards achieving the organization's goals.

VISION OF KARVY
 Company's vision is crystal clear and mind frame very directed. "To be pioneering financial
services company. And continue to grow at a healthy pace, year after year, decade after
decade." Company's foray into IT-enabled services and internet business has provided an
opportunity to explore new frontiers and business solutions. To build a corporate that sets
benchmarks for others to follow.

KARVY VALUES
 Integrity
 Responsibility
 Reliability
 Unity
 Understanding
 Excellence
 Confidentiality

Karvy has adequate internal control systems and procedures commensurate with the size
nature of its business. These system and procedures provide reasonable assurance of
maintenance of proper accounting records, reliability of financial information, protection of
resources and safeguarding of assets against unauthorized use.

KARVY CREDO
Following are the system of beliefs followed by Karvy Group :
"Our Clients, Our Focus"
"Clients are the reasons for our being"
Personalized service, professional care; pro-activeness are the values that helps KARVY
nurture enduring relationships with their clients.
TEAMWORK:
"None of us is more important than all of us"
each team member is the face of KARVY. Togrther they offer diverse services with speed,
accuracy and quality to deliver only one product; excellence, transperancy, co-operation,
invaluable individual contribution for a collective goal and respect for individual uniqueness
within a corporate whole, is what KARVY aims at.
 RESPONSIBLE CITIZENSHIP:
"a social balance sheet is as rewarding as a business one."
as a responsible corporate citizen, KARVY believes that its duty is to foster a better
environment in the society where they live and work.
INTEGRITY:
"Everything else is secondary"
Professional and personal ethics are KArvy's bedrocks. They take pride in building an
environment that encourages honesty and oppurtunities to learn from failures than
camouflage them. they inexist on consistency between work and action.

ACHIEVEMENTS

 Among the top 5 stock brokers in India (4% of NSE volumes)

 First ISO-9002 Certified Registrar in India
 India's No. 1 Registrar in India
 Handled over 500 public issues as registrars
 Among the top 3 Depository participants
 Largest network of branches and Business Associates
 Among top 10 Investment bankers
 Largest distributor of Financial Products
 Adjusted as one of the top 50 IT uses in India by MIS Asia
 Full Fledged IT driven operatic
 Handling the Reliance Account which accounts for 10 million account holders

SERVICES OFFERED BY KARVY

1. Stock broking
2. D-Mat services
3. Derivatives Services
4. Investment product distribution
5. Investment advisory services
6. Corporate Finance & Merchant Banking
7. Income Tax enabled services
8. Registrars and transfer agents
9. Loans
10. Equity Trading Platform
11. Mutual Fund Advisory and Distribution
12. Insurance Distribution
13. Commodities Trading Platform
14.Portfolio Management Services

Chapter-2

REVIEW LITERATURE
 Chapter-3
Research Methodology

Objectives of the study

OBJECTIVE OF THE STUDY

This Study undertaken at the Karvy Stock Broking Limited at Patiala City.
Following objectives are as follows: -
 To know the attitude of investors towards Securities & other investment
avenues.

 To know the advantages and dis-advantages of Securities.

 To come up with the awareness of Securities.

 To understand about the future Securities.

 To know about the factors which are influencing the investment.

Research design

Research Methodology
Methodology:-
 Both the primary and secondary data’s are used in the report.

Primary Data:-
  Interaction with the Branch Manager and staff Stock Broking
Limited, Patiala Branch.
 Set of questions asked to the investors with the clients of KARVY.

Secondary DATA :-
 From the Internet and Magazines.

Limitations of the Study:-

The time confined for study is very limited which does not
enable to make a comprehensive study.
Non-availability of suitable respondents for interviewing during
the period at which project has been undergone.
Sampling unit:
Sampling unit may be geographically such as state, district, village etc. The researcher will
have to decide one or more of such as units that has to select for his study.

Size of Sample:
"This refer to the number of item that to be selected from the universe to constitute a
sample."
IN OUR RESEARCH SAMPLE SIZE IS 100.

Chapter -5
 Data analysis and interpretation

Data Analysis
And
Interpretation
Table 1:- Showing the occupation of respondent.

Occupation No. Of Percentage

respondents
Professional 8 16
Business 10 20
Service 19 38
Agriculture 2 4
Retired 6 12
Others 5 10
Total 50 100

Professional Buisiness Service Agriculture Retired others

10%
16%

12%

20%

4%
38%

Interpretation
Majority of the respondents are service oriented amounting to so to38%
so that the Securities companies should try to concentrate more on this segment
and try to attract the other categories such as professional, business,
agriculture, retired, and others as they are accounting for just 20% and 16%
Table 2 showing income level of respondent.

Income No. Of respondents Percentage

5000-10000 21 42
10000-15000 13 26
15000-20000 11 22
20000-25000 5 10
Total 50 100

50000-10000 10000-15000 15000-20000 20000-25000

10%

22% 42%

26%

Interpretation
The affordability to invest depends on the income of people. As income
depicts the status of the people to invest in different avenues based on their
income many investors fall in the income level between 5000-10000 the
register for 42% the income level 10000-15000 are 26% the income level
between 15000-20000 the high income level above 20000 accounting for 10%.
Table 3 showing the investors investing different avenues.
Avenues No. Of Percentage
respondents
Bank deposits 17 34
Securities 6 12
Shares 10 20
Debentures 2 4
Bank fixed 8 16
Deposits
Chit funds 7 14
Total 50 100

bank deposit mutual fund shares debentures bank fixed deposit chit funds

14%

34%
16%

4%

12%
20%

Interpretation:-
The above table depict that 34% of respondents prefer to
invest in bank deposit due to safety 20% shares 16% in bank fixed deposit, 14%
in chit funds, 12% in Securities and 4% in debentures.
Table 4 showing the regular investors .

Pattern No. Of respondents Percentage

Yes 26 52
No 24 48
total 50 100

yes no

48%
52%

Interpretation:-
The above table that around 52% of the respondents invest
regularly and 48% invest occasionally.
Table 5 showing the regular investors .

Invest Pattern No. Of respondents Percentage

Short - term 19 38
Long – term 31 62
Total 50 100

SALES
short term long term

38%

62%

Interpretation:-
The above table shows that around 62% the respondents
prefer for long-term investment and 38% for short-term investment.
Table 6 showing source of information.

Source if No. Of Percentage

information respondents
Expert/professional 9 18
Own experience 37 74
Existing investors 4 8
Total 50 100

experts/professional own experience existing investores

8%
18%

74%

Interpretation:-
Source of information plays a key role in investing in a
particular avenue the above table shows that shows that 74% of the
respondents have invested by their own experience, 18% of the respondents
invested by the experts/professional and 8% of the respondents invested by
the guidance given by existing investors.
Table 7 showing the factors influencing investment.

Factors No. Of respondents Percentage

Convenience 12 24
Safety 19 38
Income 12 24
Rate of 4 8
interest/preference
Tax benefits 3 6
Total 50 100

convenience safety income rate of interest/preference tax benfits

24%

38%

6%

8% 24%

Interpretation:-
The above table shows that most of the investors about 38%
invest for the purpose of safety followed by 24% convenience and income and
rest for rate of interest/preference and tax benefits that 8% and 6%
respectively.
Table 8 showing the investment in Securities.
Investment in No. Of respondents Percentage
Securities
Yes 6 12
No 44 88
total 50 100

SALES
yes no

12%

88%

Interpretation:-
The above table depict that 88% of the respondents are not
satisfied with the returns on Securities and only 12% of the respondents are
satisfied with return on Securities.
Table 9 showing overall performance of Securities.
Attributes No. Of respondents Percentage
Very good 2 4
Good 20 40
Average 28 56
Total 50 100

very good good average

4%

40%

56%

Interpretation:-
The above table depicts that the performance of the
Securities is average to 56% of the respondents, good to 40% of the
respondents and very good to only 4% of the respondents.
 Table no. 10 showing Do you know about the investment
options?

Knowledge %age

Yes 80%

No 20%

Total 100%

20%

Yes
No
80%

Inference:
Only 80% people know the exact meaning of investment and remaining 20%
people take his/ her residential property as investment. According to law
purpose this is not an investment because of it is not create any profit for the
owner.
 Table no. 11 MOST PREFERABLE INVESTMENT SCENARIO?

Investment Scenario %age

Bank 24%

Derivative & Securities Market 28%

Insurance 4%

Real Estate 20%

Bonds 20%

Others 4%

Total 100%

4%

24%
20%
Bank
Derivatives & Securities Market
Insurance
Real Estate
Bonds
20%
Others
28%

4%

INFERENCE:
+
 TABLE NO. 12 DO YOU HAVE ANY D-MAT ACCOUNT & TRADING
ACCOUNT?

Account %age

Yes 40%

No 60%

Total 100%

40%
Yes
No

60%

INFERENCE:
Only 40% people having the D-Mat and Trading account. Other people don’t know either
security market or why shares move up and down.
TABLE NO. 13 IN WHICH COMPANY DO YOU HAVE D-MAT &
TRADING ACCOUNT?

COMPANY &AGE

ICICI Direct 26%

HDFC Security 12%

Karvy 19%

Share Khan 15%

Indiabulls 10%

India Infoline 11%

Other 7%

TOTAL 100%

7%

11% ICICI Direct

26%
HDFC Security
Karvy
10%
Share Khan
Indiabulls
12%
India Infoline
15%
Others

19%

INFERENCE:Only ICICI having the 24% D-mat and Trading account because of their
better service and Karvy ,another stockbroker, who is in second position, just because of
their products and services.
TABLE NO. 14 SPECIFY THE REASON OF SATISFACTION WITH THE
CURRENT BROKING HOUSE ?

Satisfaction %age

Operating Expenses 18%

Services 25%

Brokerage 57%

Total 100%

18%

Operating Expenses
Services
Brokerage
57%
25%

INFERENCE:
Regarding satisfaction, 57% people consider brokerage and only 25% people looking for
better services.

Today scenario is changed so the most area are covered by derivative and securities
market. It is 28% of the total population.
 TABLE NO. 15 MOST IMPORTANT THINGS YOU TAKE INTO YOUR
MIND WHILE MAKE INVESTMENT?
Factor %age
Risk 8%
Return 17%
Both 75%
Total 100%

8%

17%

Risk
Return
75% Both

INFERENCE:
In this case most of the people like 75% consider the both factors risk and return but only
25% people consider risk or return.
 TABLE NO. 16 AWARENESS RELATED SECURITIES MARKET ?

Knowledge %age

Complete 8%

Partial 75%

Nil 17%

Total 100%

8%
17%

Complete
Partial
Nil

75%

INFERENCE:
On that basis, 17% people don’t know about the securities market and 75% people having
partial knowledge about securities market, so in this case there is requirement of more
promotion activity to investment awareness.
 Chapter-5

FINDINGS

 Majority of respondent are from services sector followed by businessman,

the professional, retired people and other.

 Nearly half of the respondent is in the income range of 5000-10000,

around 10 to 5% of the respondents from higher income group.

 Majority of respondent neglect the Securities, debentures, bank fixed

deposits and chit funds.

 Half of the respondents are regular investor.

 Many respondents prefer the long term investment.

 Source of information plays a key role in inverting an avenue, majority of

respondents follow their own experience.

 Majority of respondents must consider the safety and income.

 Most of the people are investing in avenues due to risk involved in
Securities.

 The overall performance of Securities is average compare to other

avenues.

CONCLUSION

 In the study there is a general lack of complete knowledge about Securities.

 A Securities brings peoples together and it’ll make a group of people and
invest their money in stock, bonds, and other securities.

 The advantages of Securities are professional management, diversification,

low cost, regulatory oversight and liquidity.

 The disadvantages of Securities are no guarantees, fees and commission,

possible tax consequences, and the inability of management to guarantee
a superior return.

 In this report here we can say that there is a lack of knowledge towards the
Securities in stock market.

 Most of the investors thought that Securities are one-way ticket to a

jackpot but it is not so……
 BIBLIOGRAPHY

BIBLIOGRAPHY
 Mutual benefits magazines.

 Internet.

 Information from Branch Manager.

 Direct interaction with the investor.

 www.karvy.com

 www.moneycontrol.com

 www.mutualfundsindia.com

 www.bseindia.com

 www.nseindia.com

 www.karvymfs.com