A

Summer Training Project Report On

COMPARISION BETWEEN PORTFOLIO MANAGEMENT SERVICES OF MOTILAL OSWAL SECRUTIES LTD AND SWASTIKA INVESTMART LTD.

SUBMITED TO MAHAKAL INSTITUTE OF MANAGEMENT, UJJAIN

TOWARDS
PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE AWARD OF DEGREE OF MASTER OF BUSINESS ADMINISTRATION

OF VIKRAM UNIVERSITY UJJAIN (M.P.) May-June 2010 Company Guide

Mr.Vishwas Joshi (Branch Manager)

Faculty Guide
Mr.Amit Joshi

Submitted By Kishore Ahuja MBA-III Sem (Batch 2008-10) Roll No. 030480

Declaration of Candidate

I, the undersigned, Kishore Ahuja, hereby declare that the present, summer project title COMPARISION ON

PORTFOLIO MANAGEMENT SEVICES OF MOTILAL OSWAL LTD.AND SWASTIKA INVESTMART LTD is based on my original work and my indebtedness to other works, publication, has been duly acknowledged at relevant place.

Kishore Ahuja Date: 10.08.2010

Certificate of Faculty Guide

This is certify that Kishore Ahuja, of M.B.A.-III Sem. (Batch 2008-10) has completed her summer training of six seeks from 16.05.2010 to 30.06.2010 and prepared project report on A STUDY ON EXPORT DOCUMENTATION PROCEDURE AND EXPORT under my guidance.

Faculty Guide Prof. Amit Joshi

PREFACE
This has been prepared as the part of our summer training of MOTILAL OSWAL SECURITIES LTD, Ujjain. This 6 week long training was designed with a view to import practical knowledge to the student in various departments of the corporation and face the real life situation and find the solution of the problem with there managerial skills and knowledge achieved. This project for Motilal Oswal Securities ltd includes introduction of the corporation and gives finding, suggestion and conclusion. I sincerely hope that this project will fulfill the objectives and expectation of the corporation and will show the work done by me as per guidance provide by guide

Kishore Ahuja

Acknowledgement
A project can not be successful until and unless it is guide by the right person and at right time at right place and which also requires a lot of sincere efforts, channeled in the right direction, efficient supervision and the most valuable professional guidance. I hereby take this opportunity to thank the people who have helped me a lot during the project work of six week. I specially wanted to thank my external guide MR VISHWAS JOSHI (branch manager) of motilal oswal securities ltd. I also thankful to my internal guide prof. Amit joshi for guiding me through out the project. His excellent guidance, encouragement and patience helped me out to complete the project successfully. Finally I would like to thank all those who directly or indirectly concerned in making my project successful.

Kishore Ahuja

TABLE OF CONTENT
1. Introduction to company

2. Introduction to portfolio management

3. Portfolio management services 4. Research Methodology

 .Objectives  .Methodology.

5. Data Analysis &Interpretation 6. Suggestion 7. Conclusion 8. Bibliography 9. Annexure

Company profile Of Motilal Oswal secruities ltd.

Company Profile
The story of Motilal Oswal Securities Ltd goes back many years, when Mr. Motilal Oswal and Mr. Raamdeo Agrawal met each other as students in a Mumbai suburban hostel in the early eighties. Both the young chartered accountants hailing from a rural & an unpretentious background had a common dream viz 'to build a professional organization with strong value systems, to provide reliable & honest investment advice to investors'. Thus was born their first enterprise called "Prudential Portfolio Services" in 1987. Motilal Oswal Securities Ltd. was founded in 1987 as a small sub-broking unit, with just two people running the show. Focus on customer-first-attitude, ethical and transparent business practices, respect for professionalism, research-based value investing and implementation of cuttingedge technology has enabled us to blossom into an almost 2000 member team.

Success Mantra for MOSL:

The success story of MOSL is driven by 8 success sutras adopted by it namely: Trust, Integrity, Dedication, Commitment, Enterprise, Hard work and Team play, Learning and Innovation, Empathy and Humility. These are the Values that bind success with MOSL.

Mission Statement:
To be a well-respected and preferred global financial services organization Enabling wealth creation for all our customers. Today MOSL is a well diversified financial services firm offering a range of financial products and services such as  Wealth Management  Broking & Distribution  Commodity Broking  Portfolio Management Services  Institutional Equities  Private Equity  Investment Banking Services.

MOSL has a diversified client base that includes retail customers (including High Net worth Individuals), mutual funds, foreign institutional investors, financial institutions and corporate clients. MOSL are headquartered in Mumbai and as of March 31st, 2009, had a network spread over 548 cities and town comprising 1,289 Business Locations operated by our Business Partners and us. As at March 31st, 2009, we had 541372 registered customers. In 2006, the Company placed 9.48% of its equity with two leading private equity investors based out of the US New Vernon Private Equity Limited and Bessemer Venture Partners.

The company got listed on BSE and NSE on September 9, 2007. The issue which was priced at Rs.825 per share (face value Rs.5 per share) got overwhelming response and was subscribed 27.18 times in turbulent market conditions. The issue gave a return of 21% on the date of listing. As of end of financial year 2008, the group net worth was Rs.7 bn. and market capitalization as of March 31, 2008 was Rs.19 bn. For year ended March 2008, the company showed a strong top line growth of 91% to Rs.7 bn. As compared to Rs.3.68 bn. last year. New businesses like investment banking, asset management and fund based activities have contributed to this growth. Credit rating agency Crisil has assigned the highest rating of P1+ to the Companys short-term debt program.

Shareholding Pattern at on 31st December 08

As of December 31st, 2008; the total shareholding of the Promoter and Promoter Group Stood at 70.37%. The shareholding of institutions stood at 10.07% and non-institutions at 19.56%.

Their Business Streams

Our businesses and primary products and services are:

Wealth Management
Financial planning for individual, family and business wealth creation and management needs. These are provided to customers through our Wealth Management service called Purple

Broking & Distribution services

 Equity (cash and derivatives)  Commodity Broking  Portfolio Management Services  Distribution of financial products  Financing  Depository Services
 IPO distribution

We offer these services through our branches, Business Partner locations, the internet and mobile channels. We also have strategic tie-ups with State Bank of India and IDBI Bank to offer our online trading platform to its customers.

Commodity Broking
Through Motilal Oswal Commodities Broker (P) Ltd our fully owned subsidiary; we provide commodity trading facilities and related products and services on MCX and NCDEX. Besides access to the best of research in the form of Daily Fundamentals & Technical Reports on highly traded commodities, our clients also get access to our exclusive Customized Trading Advice on both the trading platforms. We offer these services through our branches, Business Partner Locations, the internet and mobile channels.

Awards and Accolades

Motilal Oswal Financial Services has received many accolades in the year gone by. Some of them are: y Rated Best Overall Country Research for a Local Brokerage in the 2007 Asia Money Brokers poll y Rated Indias top broking house in terms of total number of trading terminals by the Dun & Bradstreet survey. y Rated Outstanding Commodity Broking House-2007 by Glob oil India y Ranked second best for Customer Responsiveness in the Financial Sector At the Avaya global Connect Customer Responsiveness awards.

Corporate offices & Branches BRANCH-HEAD OFFICE

Palm Spring Centre, 2nd Floor, Palm Court Complex, New Link Road, Malad (West), Mumbai 400 064, Maharashtra, India.

LOCATION OF SIP COMPANY Motilal Oswal Securities Ltd. Above Reebok showroom Freeganj. Ujjain (M.P)

Company profile Of Swastika Invest mart ltd.

Vision
"To be a prominent destination to enhance the Prosperity of its Clients,

Investors, Associates and Employees, always" "To provide best value for money to clients through personalized service, innovative products, best trading and investment strategies and state-of-the-art technologies. We at Swastika believe that 'Our services combined with our investors' trust will lead to a prosperous Swastika family'" We are committed for: Integrity and transparency in all transactions, Providing investment solutions based on quality and unbiased research, Providing personalized services to all investors and business associates, Achieving success through clients growth.

Mission
Institutional Broking Empanelment with Banks, FIs, & Insurance companies,

Mutual Fund business, Merchant Banking Services, Registrar & Transfer Agents Services, Equity Placement & Venture Capital Funding,

Introduction
Swastika Invest mart Ltd. (Formerly known as Swastika Fin-Lease Ltd.), a Public Limited Company, was incorporated in 1992 with its Registered Office in Mumbai and Administrative office at Indore (M.P.). It was promoted by Mr. Sunil Nyati belonging to the Swastika group of Rajasthan, engaged in diversified business since 1959. In the year 1995 the company came out with a Public issue of 15 Lac equity shares of Rs.10/- each for cash at par, aggregating Rs.150 Lacs. The shares of company are listed on BSE and are one of the few listed companies, engaged in Stock broking and Capital Markets activities. Since incorporation till 1998, the company was actively involved in the field of Hire Purchase and Lease Finance. It started the stock broking business as a subbroker in the year 1998 and after getting the experience and with the blessings of its satisfied customers, it took the Corporate Membership of NSE in 2000 and BSE in 2004. Later, it got registered with CDSL in 2006 as Depository Participant as well. In the year 2007 the company has acquired membership of two premier Commodity Exchanges of India, NCDEX and MCX through its wholly owned subsidiary company Swastika Commodity Pvt. Ltd. It has also got the corporate membership of Currency Derivatives with NSE and MCX-SX in the year 2008. Over the years, Swastika has followed a consistent growth path and is established as one of the leading broking houses of the country with the support and confidence of its clients, investors, employees and associates. Today the Swastika group is managed by a team of over 200 professional staff members and has got a nationwide network. Swastika Invest mart Limited, corporate member of all the premier stock and commodity exchanges, is providing best value for money through personalized services, committed to high standards of corporate governance, highest levels of transparency, accountability and integrity in all its activities.

Current Activities of SWASTIKA:

Stock broking NSE & BSE Equities & Derivatives. Commodity Trading NCDEX & MCX. Currency Broking NSE & MCX-SX - Currency Derivates. Depository Services CDSL. Portfolio Management & Investment Advisory Services. Mutual Funds and Fixed Deposits Investments. Initial Public Offering (IPO) And IPO Financing. Technical Analysis and Research based advice. Internet Based Trading.

STRENGTHS OF SWASTIKA:
Corporate Membership of NSE, BSE, NCDEX & MCX-SX. Internet Based Trading Platform. Depository Participants of CDSL 24 * 7 Web Base Back Office Software Own Private VSAT Net Work 30 Own Branches Business Partners and Sub Brokers More than 300 CTCL Net Work More than 600 Odin Licenses More than 26000+ Registered Clients (Individual & Corporate). Company Listed at BSE since 1995. In House Technical Analysis & Research team. Strong team for Fundamental Equity Analysis & Research. Team for Derivative strategies trading. Annual turnover in C M & F&O (NSE & BSE): More than Rs. 50,000 Crores.

Milestones
1992: Incorporation with registered Office at Mumbai. 1993: Actively involved in financing. Hire-purchase and leasing business. 1995: Came out with an initial Public Issue, Listed at Bombay Stock Exchange. 1998: Registered with RBI as NBFC, 2000: Membership of NSE - Capital Market Division. 2002: Membership of NSE - Future & Option Segment. 2003: Setting up Research Desk and Mutual Fund Desk. 2004: Membership of BSE - Capital Market Division 2005: Centralized Back Office Software successfully implemented. 2006: Registered with CDSL as Depository Participants. 2007: Membership of NCDEX & MCX. 2008: Membership of Currencies Derivatives of NSE and MCX-SX.

NEED FOR SELECTING THE PROJECT

y To get the overall knowledge of securities and investment. y To know how the investment made in different securities minimizes the risk and maximizes the returns. y To get the knowledge of different factors that affects the investment decision of investors. y To know how different companies are managing their portfolio i.e. when and in which sectors they are investing. y To know what is the need of appointing a Portfolio Manager and how does him meets the needs of the various investors.

EXECUTIVE SUMMARY

Investing in equities requires time, knowledge and constant monitoring of the market. For those who need an expert to help to manage their investments, portfolio management service (PMS) comes as an answer. The business of portfolio management has never been an easy one. Juggling the limited choices at hand with the twin requirements of adequate safety and sizeable returns is a task fraught with complexities. The term portfolio management in common practice refers to selection of securities and their continuous shifting in a way that the holder gets maximum returns at minimum possible risk. Portfolio management services are merchant banking activities recognized by SEBI and these activities can be rendered by SEBI authorized portfolio managers or discretionary portfolio managers. A portfolio manager by the virtue of his knowledge, background and experience helps his clients to make investment in profitable avenues. A portfolio manager has to comply with the provisions of the SEBI (portfolio managers) rules and regulations, 1993. This project also includes the different services rendered by the portfolio manager. It includes the functions to be performed by the portfolio manager.

PORTFOLIO MANAGEMENT
INTRODUCTION
Stock exchange operations are peculiar in nature and most of the Investors feel insecure in managing their investment on the stock market because it is difficult for an individual to identify companies which have growth prospects for investment. Further due to volatile nature of the markets, it requires constant reshuffling of portfolios to capitalize on the growth opportunities. Even after identifying the growth oriented companies and their securities, the trading practices are also complicated, making it a difficult task for investors to trade in all the exchange and follow up on post trading formalities.

Investors choose to hold groups of securities rather than single security that offer the greater expected returns. They believe that a combination of securities held together will give a beneficial result if they are grouped in a manner to secure higher return after taking into consideration the risk element. That is why professional investment advice through portfolio management service can help the investors to make an intelligent and informed choice between alternative investments opportunities without the worry of post trading hassles.

MEANING OF PORTFOLIO MANAGEMENT

Portfolio management in common parlance refers to the selection of securities and their continuous shifting in the portfolio to optimize returns to suit the objectives of an investor. This however requires financial expertise in selecting the right mix of securities in changing market conditions to get the best out of the stock market. In India, as well as in a number of western countries, portfolio management service has assumed the role of a specialized service now a days and a number of professional merchant bankers compete aggressively to provide the best to high net worth clients, who have little time to manage their investments. The idea is catching on with the boom in the capital market and an increasing number of people are inclined to make profits out of their hard-earned savings.

Portfolio management service is one of the merchant banking activities recognized by Securities and Exchange Board of India (SEBI). The service can be rendered either by merchant bankers or portfolio managers or discretionary portfolio manager as define in clause (e) and (f) of Rule 2 of Securities and Exchange Board of India(Portfolio Managers)Rules, 1993 and their functioning are guided by the SEBI.

According to the definitions as contained in the above clauses, a portfolio manager means any person who is pursuant to contract or arrangement with a client, advises or directs or undertakes on behalf of the client (whether as a discretionary portfolio manager or otherwise) the management or administration of a portfolio of securities or the funds of the client, as the case may be. A merchant banker acting as a Portfolio Manager shall also be bound by the rules and regulations as applicable to the portfolio manager.

DEFENATIONS OF PORTFOLIO:InvestorsWords.com
A collection of investments (all) owned by the same individual or organization. These investments often include stocks, which are investments in individual businesses; bonds, which are investments in debt that are designed to earn interest; and mutual funds, which are essentially pools of money from many investors that are invested by professionals or according to indices.

Financial Dictionary and WikiAnswers.com

A collection of various company shares, fixed interest securities or money-market instruments. People may talk grandly of 'running a portfolio' when they own a couple of shares but the characteristic of a serious investment portfolio is diversity. It should show a spread of investments to minimize risk - brokers and investment advisers warn against 'putting all your eggs in one basket'.

DEFINATIONS OF PORTFOLIO MANAGEMENT

1) Investorswords.com The process of managing the assets of a mutual fund, including choosing and monitoring appropriate investments and allocating funds accordingly.

2) Investor Glossary

Determining the mix of assets to hold in a portfolio is referred to as portfolio management. A fundamental aspect of portfolio management is choosing assets which are consistent with the portfolio holder's investment objectives and risk tolerance. The ultimate goal of portfolio management is to achieve the optimum return for a given level of risk. Investors must balance risk and performance in making portfolio management decisions. Portfolio management strategies may be either active or passive. An investor who prefers passive portfolio management will likely choose to invest in low cost index funds with the goal of mirroring the market's performance. An investor who prefers active portfolio management will choose managed funds which have the potential to outperform the market. Investors are generally charged higher initial fees and annual management fees for active portfolio management.

MEANING OF PORTFOLIO MANAGERS

Portfolio manager means any person who enters into a contract or arrangement with a client. Pursuant to such arrangement he advises the client or undertakes on behalf of such client, management or administration of portfolio of securities or invests or manages the clients funds. A discretionary portfolio manager means a portfolio manager who exercises or may under a contract relating to portfolio management, exercise any degree of discretion in respect of the investment or management of portfolio of the portfolio securities or the funds of the client, as the case may be. He shall independently or individually manage the funds of each client in accordance with the needs of the client in a manner which does not resemble the mutual fund. A non discretionary portfolio manager shall manage the funds in accordance with the directions of the client.

SCOPE OF PORTFOLIO MANAGEMENT:

Portfolio management is an art of putting money in fairly safe, quite profitable and reasonably in liquid form. An investors attempt to find the best combination of risk and return is the first and usually the foremost goal. In choosing among different investment opportunities the following aspects risk management should be considered: a) The selection of a level or risk and return that reflects the investors tolerance for risk and desire for return, i.e. personal preferences. b) The management of investment alternatives to expand the set of opportunities available at the investors acceptable risk level.

OBJECTIVES OF PORTFOLIO MANAGEMENT:

y Security/Safety of Principal y Stability of Income: y Capital Growth: y Marketability y Diversification y Favorable Tax Status:
y

Liquidity i.e. Nearness To Money:

PORTFOLIO MANAGEMENT SERVICES

Motilal Oswal Portfolio Management Services offer a range of investments solutions through discretionary services. We at Motilal Oswal have helped create wealth for our customers through our Portfolio Management Services. Our knowledge of the markets together with our understanding of our customers and their risk profiles has helped us design a range of portfolio offerings for our clients. These include the Value Strategy, Bulls Eye Strategy, Trillion Dollar Opportunity Strategy and Focused Strategy Series I . As of March 31st, 2009, the Assets Under Management of our various portfolio schemes stood at Rs.4.77 bn Motilal Oswal group has applied to the regulatory bodies for a license to operate as a Domestic Asset Management Company (Mutual Fund) and we expect to begin operations soon.

Institutional Equities
We offer equity broking services in the cash and derivative segments to institutional clients in India and overseas. These clients include companies, mutual funds, banks, financial institutions, insurance companies, and FIIs. As at March 31st, 2009, we were empanelled with over 300 institutional clients including 200 FIIs. We service these clients through dedicated sales teams Across different time zones.

Investment Banking
We offer financial advisory services relating to mergers and acquisitions (domestic and cross border) divestitures, restructurings and spin-offs through Motilal Oswal Investment Advisors Private Ltd. (MOIAPL) We also offer capital raising and other investment banking services such as the management of public offerings, private placements (including qualified institutional placements), rights issues, share buybacks, open offers/delisting and syndication of debt and equity. MOIAPL has closed 23 transactions in 2007-08 worth US$ 1.8 billion and had 18 mandates in hand as at March 31, 2008.

Private Equity
In 2006, our private equity subsidiary, Motilal Oswal Private Equity Advisors Private Ltd (MOPEAPL) was appointed as the investment manager and advisor to a private equity fund, India Business Excellence Fund, which was launched with a target of raising US$100 million. The fund is aimed at providing growth capital to small and medium enterprises in India, with investments typically in the range of US$3 million to US$7 million. MOPEAPL will manage and advise the fund and other private equity funds, which may be raised in the future. In its final closing, in December 2007, the fund obtained commitments of US$125 mn (Rs.4,875 mn) from investors in India and overseas. The Fund has deployed/ committed $ 58 mn across 8 deals. MOPEAPL has recently launched an INR 750 crores domestic Real Estate Private Equity Fund called India Realty Excellence Fund sponsored by Motilal Oswal Financial Services Ltd.

Principal Strategies Group

For effective management of treasury operations and to capitalize on market opportunities, the Group has set up a 30 member team which would be responsible for effective deployment of funds into different trading and arbitrage strategies.

Focus on Research
Research is the solid foundation on which Motilal Oswal Securities advice is based. Almost 10% of revenue is invested on equity research and we hire and train the best resources to become advisors. At present we have 22 equity analysts researching over 27 sectors. From a fundamental, technical and derivatives research perspective; Motilal Oswal's research reports have received wide coverage in the media (over a 1000 mentions last year). Our consistent efforts towards Quality equity research has reflected in an increase in the ratings and rankings across various categories in the Asia Money Brokers Poll over the years Our unique Wealth Creation Study, authored by Mr. Raamdeo Agrawal, Managing Director, is now in its 13th year. Investors keenly await this annual study for the wealth of information it has on the companies that created wealth during the preceding five years.

RESEARCH METHODOLGY

OBJECTIVE OF THE STUDY:-

y To compare the Portfolio Management Services of Motilal oswal and Swastika investment Ltd. y To analyze the basic difference between services and offerings of both the companies.

y To know the investors view towards the portfolio management services. y To know the need of the investors.

RESEARCH METHDOLOGY:The research approach for this study was conclusive research. Conclusive research are designed to help executives to chose among various possible alternatives to make a viable business decision.Futher this research was descriptive type, which is an offshoot oh conclusive research. The problem for this research was none operating in nature the data both primary and secondary data; the source was one hundred respondents primary data. For the proper analysis of data simple statistical techniques such as percentage were use. It helped in making more accurate generalization from the data available.

SAMPLE SIZE:The method used for sample Technique was random sampling method. This method was used because it was not know previously as to whether a particular person will be asked to fill the questionnaire.

SIZE OF THE SAMPLE:50 respondents.

DATA COLLECTION:Source of data for this project primary and secondary only. In reference to the theoretical concept as well as for information are collected through secondary sources (Internet websites) the primary data was collected through questionnaire filled from the respondents.

TOOLS FOR ANALYSIS:To know the response .I have used the questionnaire method in sample survey. If one wishes to find what people think or know, the logical procedure is to ask them. In this method the questionnaire were distributed to the respondents and they were asked to answer the question in the questionnaire. The questionnaire were structured non-disguised questionnaire because the questions, which the questionnaire contained, were arranged in a specific order besides every question is asked were logical for the study, no question can be termed as irrelevant. The questionnaire, were non-disguised because the questionnaire were constructed so that the objective is clear to the respondent. The respondents were aware of the objective. They knew why they were asked to fill the questionnaire.

DATA ANALYSIS & INTREPRETATION

DATA ANALYSIS & INTREPRETATION:Q1.Do you invest in share market? Options Yes No number of respondents 37 13

40 35 30 25 20 15 10 5 0 yes no Series 1

Interpretation: 37 respondents say they invest in share market.

Q2.How do you manage your portfolio?

Options Self Depends on the company for portfolio management

Number of respondents 23 27

27 26 25 24 23 22 21 self company

Series 1

Interpretation: 23 respondents say they themselves manage their portfolio and 27 respondents say they depend on the company portfolio Management.

Q3.From which company demat account do you trade with?

Options Motilal oswal Swastika investment Ltd.

Number of respondents 25 25

% of respondents

motilal oswal SIL

Interpretation: 25 respondents deal with Motilal oswal and 25 respondents deal with swastika investment Ltd. Securities.

Q4. Which company offers better Portfolio services?

Options Motilal oswal Swastika investment Ltd.

Percentage of respondents 38 12

% of respondents

SIL

Interpretation: 12 respondents say swastika Ltd.offer better services and returns. But 38 respondents say Motilal oswal is offering better services and more returns.

Q5. Which company provides optimum Portfolio?

Options Motilal oswal Swastika investment Ltd.

Percentage of respondents 38 12

% of respondents

Sil

Interpretation: Most of the respondents say motilal oswal provide better portfolio.

Q6. Which company Portfolio Management services is less risky?

Options Motilal oswal Swastika investment Ltd.

number of respondents 33 17

% of respondents

Sil

Interpretation: 17 respondents say portfolio management services of Swastika Ltd. and 33 respondents say portfolio management services of Motilal oswal services are less risky.

Q7. Which company gives you complete knowledge about your money invested?

Options Motilal oswal Swastika investment Ltd.

Number of respondents 35 15

% of respondents

Sil

Interpretation: Motilal oswal gives its customers complete knowledge about their money.

Q8. Which companys Transaction is more transparent?

Options Motilal oswal Swastika investment Ltd.

Percentage of respondents 34 16

% of respondents

Sil

Interpretation: Motilal oswal keeps its transaction more transparent as compared to Swastika investment Ltd...

Q9. Which company has better PMS for Everyones need?

Options Motilal oswal Swastika investment Ltd.

Number of respondents 42 08

% of respondents

Sil

Interpretation: 42 respondents say Motilal oswal portfolio management. Services fit to Everyones needs and pocket.

Q10. According to you what must be done improve the portfolio management Services.

Interpretation:Most of the respondents say the portfolio must be such that customers gets more returns and risk factors must be kept in mind before investing.

CONCLUSION:-

y Motilal Provides optimum portfolio. y Motilal oswal is giving more returns to the investors. y Motilal oswal keep its process more transparent. y Motilal oswal charges are less than other portfolio services. y Motilal oswal provides daily updates about the stocks information. y Motilal oswal has better portfolio management services than swastika investment Ltd.

SUGGESTIONS:-

y Investors must be made more aware about the services of the company. y Investors must feel safe about their money invested. y Investors accounts are more transparent as compared to other companies. y Motilal oswal must try to promote its Management services Through Advertisement.

portfolio

Bibliography

From Books:
R.D KOTHARI (RESEARCH)

From Websites:
WWW.MOTILALOSWAL.COM WWW.SWASTIKA.CO.IN WWW.GOOGLE.COM

ANNEXURE

BALANCE SHEET
As on 31st mar 2010
(Rs in Cr.) Mar 2010 Mar 2009 Mar 2008 Mar 2007 Mar 2006 SOURCES OF FUNDS : Share Capital Reserves Total Equity Share Warrants Equity Application Money Total Shareholders Funds Secured Loans Unsecured Loans Total Loan Funds Total Liabilities APPLICATION OF FUNDS : Loan / NonCurrent Assets Fixed Assets Gross Block Less: Accumulated Depreciation Less: Impairment of Assets Net Block Lease Adjustment

14.32 459.11 0.00 0.00 473.43 0.00 59.32 59.32 532.75

14.20 419.16 0.00 0.00 433.36 0.00 0.00 0.00 433.36

14.20 385.72 0.00 0.00 399.92 0.00 0.00 0.00 399.92

12.71 146.96 0.00 0.00 159.67 0.00 0.00 0.00 159.67

5.62 -0.19 0.00 0.00 5.43 0.00 0.00 0.00 5.43

0.00 15.84 0.00 0.00 15.84 0.00

0.00 0.01 0.00 0.00 0.01 0.00

0.00 0.01 0.00 0.00 0.01 0.00

0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00

Capital Work in Progress Investments Current Assets, Loans & Advances Inventories Sundry Debtors Cash and Bank Balance Loans and Advances Total Current Assets Less: Current Liab. & Provisions Current Liabilities Provisions Total Current Liabilities & Provisions Net Current Assets Miscellaneous Expenses not written off Deferred Tax Assets Deferred Tax Liability Net Deferred Tax Total Assets Contingent Liability

87.47 58.24

0.00 31.35

0.00 17.40

0.00 47.55

0.00 1.95

107.77 0.00 25.06 296.69 429.52

32.72 0.00 201.23 206.66 440.61

119.63 0.00 1.07 284.01 404.71

0.00 0.00 7.16 108.53 115.69

0.00 0.00 3.47 0.01 3.48

2.62 54.55 57.17 372.35 0.00 0.03 1.18 -1.15 532.75 9.45

1.01 37.62 38.63 401.98 0.00 0.02 0.00 0.02 433.36 4.70

sss 21.40 22.22 382.49 0.00 0.02 0.00 0.02 399.92 4.70

0.51 3.12 3.63 112.06 0.00 0.06 0.00 0.06 159.67 71.20

0.05 0.00 0.05 3.43 0.00 0.05 0.00 0.05 5.43 0.00

Profit and loss A/c

Mar 2010 INCOME : Operating Income Other Income Total Income EXPENDITURE : Operating & Administration Expenses Miscellaneous Expenses Interest Less: Pre-operative Expenses Capitalised Employee Expense Total Expenditure Gross Profit Depreciation Profit Before Tax Tax Fringe Benefit tax

s Mar 2008 Mar 2007 Mar 2006

64.17 72.15 0.09 0.09

35.48 0.20 35.68

10.98 0.00 10.98

0.02 0.00 0.02

64.26 72.24

2.63 0.10 2.85 0.00 1.37 6.95

1.87 0.80 7.32 0.00 1.23 11.22

5.20 0.02 4.46 0.00 1.43 11.11 24.57 0.00 24.57 7.17 0.07

0.94 4.70 0.20 0.00 1.38 7.22 3.76 0.00 3.76 2.77 0.01

0.01 0.09 0.00 0.00 0.16 0.26 0.24 0.00 -.24 0.00 0.00

57.31 61.02 0.00 0.00

57.31 61.02 13.74 15.68 0.00 0.02

Deferred Tax Reported Net Profit Extraordinary Items Adjusted Net Profit Adjustment below net profit P & L Balance brought forward Appropriations P & L Balance carried down Dividend Preference Dividend Equity Dividend % Earnings Per Share-Unit Curr Earnings Per Share(Adj)Unit Curr Book Value-Unit Curr

1.17

0.01

0.04 17.29 0.00 17.29 0.00 0.57 12.74 1.66 11.36 0.00 80.00 6.09 1.22 140.82

0.03 0.95 -1.46 2.41 0.00 -0.19 0.00 0.57 0.00 0.00 0.00 0.37 NA 62.81

0.05 0.19 0.00 0.19 0.00 0.00 0.00 0.19 0.00 0.00 0.00 0.00 NA 1.93

42.40 45.31 0.00 0.00

42.40 45.31 0.00 0.00

22.41 1.66 21.20 15.50 35.13 22.41 17.18 11.36 0.00 0.00

120.00 80.00 2.92 2.92 3.15 3.15

33.06 30.52