Introduction

Industry Overview

DIFFERENT PLAYERS IN INDUSTRY

1. KARVY 2. SHAREKHAN 3. ANGEL BROKING 4. RELIGARE 5. KOTAK SECURUTIES 6. ANAND RATHI

7. INDIA INFOLINE 1. KARVY

Member - National Stock Exchange (NSE), The Bombay Stock Exchange (BSE), and The Hyderabad Stock Exchange (HSE). Karvy Stock Broking Limited, one of the cornerstones of the Karvy edifice, flows freely towards attaining diverse goals of the customer through varied services. Creating a plethora of opportunities for the customer by opening up investment vistas backed by research-based advisory services. Here, growth knows no limits and success recognizes no boundaries. Helping the customer create waves in his portfolio and empowering the investor completely is the ultimate goal. It is an undisputed fact that the stock market is unpredictable and yet enjoys a high success rate as a wealth

management and wealth accumulation option. The difference between unpredictability and a safety anchor in the market is provided by in-depth knowledge of market functioning and changing trends. 2. SHAREKHAN

Sharekhan, the retail broking arm of SSKI group and one of the largest stock broking houses in the country has won the prestigious awaaz consumer vote awards 2005 for the most preferred stock broking brand in India, in the investment advisors category Share khan equity related services include trade execution on BSE,NSE derivatives commodities depository services online trading and investment advice .sharekhan online trading and investment site www.sharekhan.com was launched in 2000 . Sharekhan Bag round network includes over 250 centers across 123 cities in India and having around 120000 customers and equal number of demat customers. Sharekhan won the award by vote of customer around the country, as part of India largest consumer study cover 7000 respondents 21 product and service across 21 major cities. the study initiated by awaaz India first dedicated consumer channel and member of the world wide CNBC network and ac Nielsen org marg was aimed at understanding the brand preference of the consumer and to decipher what are the most important loyalty criteria for the consumer in each vertical In order to select the award recipient spontaneous responses rather than prompted responses were garnered with an intention to glean unbiased preferences. The reason behind the preferences for brands were unveiled by examines the following:

 Tangible features of product /service Softer, intangible features like imagery, equity driving preference Tactical measures such as promotional /pricing schemes 3. ANGEL BROKING

The Angel Group of Companies was brought to life by Mr. Dinesh Thakkar. He ventured into stock trading with an intention to raise capital for his own independent enterprise. However, he recognized the opportunity offered by the stock market to serve individual investors. Thus Indias first retail-focused stockbroking house was established in 1987. Under his leadership, Angel became the first broking house to embrace new technology for faster, more effective and affordable services to retail investors. Mr. Thakkar is valued for his understanding of the economy and the stock-market. The print and electronic media often seek his views on the market trend as well as investment strategies. Angel Broking's tryst with excellence in customer relations began in 1987. Today, Angel has emerged as one of the most respected Stock-Broking and Wealth Management Companies in India. With its unique retail-focused stock trading business model, Angel is committed to providing Real Value for Money to all its clients. The Angel Group is a member of the Bombay Stock Exchange (BSE), National Stock Exchange (NSE) and the two leading Commodity Exchanges in the country: NCDEX & MCX. Angel is also registered as a Depository Participant with CDSL.

4. RELIGARE

Religare Enterprises Limited (REL) is one of the leading integrated financial services groups of India. RELs businesses are broadly clubbed across three key verticals, the Retail, Institutional and Wealth spectrums, catering to a diverse and wide base of clients. REL offers a multitude of investment options and a diverse bouquet of financial services and has a pan India reach in more than 1550 locations across more than 460 cities and towns. As part of its recent initiatives, the group has also started expanding globally and has acquired Londons oldest brokerage & investment firm, Hichens, Harrison & Co. plc. Following this acquisition Religare now proposes to operate out of 10 countries. With a view to expand, diversify and introduce offerings benchmarked against global best practices, Religare has entered into joint ventures with the global major- Aegon for its Asset Management and Life Insurance businesses in India. Religares wealth management subsidiary is now rechristened as Religare Macquarie Wealth Management Limited, following a joint venture with the Australia based financial services major, Macquarie Bank. Religare has also partnered with Vistaar Entertainment to launch Indias first Film Fund. The vision is to build Religare as a globally trusted brand in the financial services domain and present it as the Investment Gateway of India. All employees of the group guided by an experienced and professional management team are committed to providing financial care, backed by the core values of diligence and transparency.

5. KOTAK SECURITIES

Kotak securities ltd is India leading stock broking house with a market share of close to 9% as on 31 march 2007. kotak securities ltd has been the largest in IPO distribution. The company has a full fledged research division involved in macro economic studies sect oral research and company specific equity research combined with a strong and well networked sales force which helps deliver current and up to date market information and news Kotak securities ltd is also a depository participant with national securities depository limited and central depository service limited .providing dual benefits services where in the investor can use the brokerage services of the company for executing the transactions and the depository service for settling them. Kotak securities have 813 outlets servicing more than 315000 customers and a coverage of 277 cities. Kotak securities com the online division of kotak securities limited offers internet broking services and also online IPO and mutual fund investment A Kotak security limited manages assets around 2300 crores of assets under management. The portfolio management service provides top class service catering to the high end of the market. Portfolio management from kotak securities comes as an answer to those who would like to grow from exponentially on the crest of the stock market, with the backing of an expert.

6. ANAND RATHI

Anand is a leading full service investment bank founded in 1994 offering a wide range of financial services and wealth management solutions to institutions, corporations, highnet worth individuals and families. The firm has rapidly expanded its footprint to over 350 locations across India with international presence in Hong Kong, Dubai & London. Founded by Mr. Anand Rathi and Mr. Pradeep Gupta, the group today employs over 2,500 professionals throughout India and its international offices. The firms philosophy is entirely client centric, with a clear focus on providing long term value addition to clients, while maintaining the highest standards of excellence, ethics and professionalism. The entire firm activities are divided across distinct client groups: Individuals, Private Clients, Corporate and Institutions. Anand Rathi has been named The Best Domestic Private Bank in India by Asia money in their Fifth Annual Private Banking Poll 2009. The firm has emerged a winner across all key segments in Asia moneys largest survey of high net worth individuals in India. 7. INDIA INFOLINE

The India Infoline group, comprising the holding company, India Infoline Limited and its wholly-owned subsidiaries, straddle the entire financial services space with offerings ranging from Equity research, Equities and derivatives trading, Commodities trading, Portfolio Management Services, Mutual Funds, Life Insurance, Fixed deposits, GoI bonds and other small savings instruments to loan products and Investment banking. India Infoline also owns and manages the websites http://www.indiainfoline.com/ and http://www.5paisa.com/. The company has a network of 758 business locations (branches and sub-brokers) spread across 346 cities and towns. It has more than 800,000 customers

India Infoline Limited is listed on both the leading stock exchanges in India, viz. the Stock Exchange, Mumbai (BSE) and the National Stock Exchange (NSE) and is also a member of both the exchanges. It is engaged in the businesses of Equities broking, Wealth Advisory Services and Portfolio Management Services. It offers broking services in the Cash and Derivatives segments of the NSE as well as the Cash segment of the BSE. It is registered with NSDL as well as CDSL as a depository participant, providing a one-stop solution for clients trading in the equities market. It has recently launched its Investment banking and Institutional Broking business.

COMPANY OVERVIEW

Mission Statement of Karvy

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. Karvys 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 deposits etc. Companys mission statement is clear and thoughtful which guide geographically dispersed employees to work independently yet collectively towards achieving the organizations goals. Vision of Karvy Companys 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. Companys 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

Services provided:1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. Stock broking Demat services Investment product distribution Investment advisory services Corporate finance & Merchant banking Insurance Mutual fund services IT enabled services Registrars & Transfer agents Loans Equity Trading Platform Commodities Trading Platform Stock Broking:

1.

KARVY is working as Capital Market Intermediaries. Stockbrokers are regulated by SEBI [Stock-brokers and Sub-brokers] Regulations, 1992. The stockbroker is a member of the stock exchange. Stockbrokers are the intermediaries who are allowed to trade in securities on the exchange of which they are members. They buy and sell on their own behalf as well as on behalf of their clients. Stockbrokers expand their business by engaging sub-broker. Sub-brokers mean any person not being a member of a stock exchange who acts on behalf of a stock broker as an agent or otherwise for assisting the investors in buying, selling or dealing in securities through such stock-brokers. 2. DP Services: Karvy is a depository participant with the National Securities Depository Limited (NSDL) for trading and settlement of dematerialized shares. Depository Participants (DPs) are described as an agent of the depository. They are intermediaries between the depository and the investors.

The relationship between the DPs and the depository is governed by an agreement made between the two under Depositories Act. A DP can offer depository-related services only after obtaining a certificate of registration from SEBI. Since Karvy is also in the broking business, investors who use Karvys depository services get a dual benefit. They can use Karvys brokerage services to execute transactions and Karvys depository services to settle them. 3. Investment Products Distribution: Company is also concern with the distribution of investment products like (a). (b). (c). Fixed Deposit Bonds IPO

4. Investment Advisory Services: This division provides portfolio management services to high net-worth individuals and corporate. The expertise of Karvy in research and stock broking gives it the right perspective to provide investment advisory services. Company provides advisory services to its clients. Financial goal of each individual investor varies according to his dream, ambition and family size and future financial planning for the children & old age pension for self and wife so does the pathway to achieve it. Karvy apply the principles of Financial Planning as both science & art, it understands the time horizon, risk bearing capacity and investment goals of investors keeping in mind their psyche and financial needs. Based upon this Karvy helps individual investors to plan their entire life up to retirement, Taxes, Insurance needs and other important personal financial goals. It designs portfolio for investor to invest their saving in various financial products like shares, bonds, debentures, mutual funds, fixed deposits, insurance etc., Company design portfolio by considering following factors.

5. Corporate finance & Merchant banking: Corporate finance is the financial activity of corporation. It deals with the firm's operations with regard to investing and financing. It concerned with how firms raise capital and the consequences of alternative methods of raising capital. Firms capital can be raised by raising loans, issuing shares, and acquiring or merging with other businesses by public or private companies. Merchant banking is a financial intermediation that matches entities that need capital and those that have capital. Hence they facilitate the flow of capital in the market. Karvy enjoys SEBI category (I) authorization for Merchant Banking. Karvy offers the full spectrum of Merchant Banking Services, beginning from identifying the best time for an issue to final stage of marketing it, to harvest unparalleled success. As a merchant banker Karvy offer following services: Issue management Instrument designing Pricing of the issue Registration process for the issue of shares Marketing efforts Final allotment to investors Listing details on stock exchanges Loan syndication Lease financing Corporate advisory services Underwriting Portfolio management 6.Insurance: Karvy is also dealer of many private life insurance companies. At Varanasi branch, company is associated with dealing of following companies.

ICICI Prudential Life Insurance HDFC Life Insurance TATA AIG Life Insurance 7.Mutual Fund Services: Since its inception in 1982, Karvy has demonstrated a dedication coupled with dynamism that has inspired trust from various segments corporate, government bodies and individuals. Karvy has since been performing a pivotal role as the intermediary the interface between these players. With Mutual Funds emerging as a distinct asset class, Karvy has made a strategic choice to leverage the power of latest technology to provide a cutting edge to its services. Karvy, today, service nearly 80% of the asset management companies (AMCs) across an extensive network of service centers with assets under service in excess of Rs.10,000 crores. Karvy's ability to mass customize and offer a diverse range of products for a diverse range of customers has helped mutual fund companies to uniquely position themselves in the market place. These diverse range of services cut across multiple delivery channels service centers, web, mobile phones, call center has brought home the benefits of technology to investors, distributors, and the mutual funds. 8. Income Tax enabled services: Karvy has been started this service since March, 2004. Karvy is work as TIN Facilitation Centre it provides following IT enabled services. a. Distribution of PAN Card. b. Distribution of TAN Card. c. Services related to e-TDS.

9.Registrars & Transfer agents:

In 1985, Karvy entered the Registrar and Share Transfer Business to create a market niche in the competitive field of financial services. In 1994-95, it reached a milestone when it processed 104 Public Issues constituting 46 per cent market share. Now in its second decade of existence, Karvy is the leader in the industry: In

an opinion poll conducted by an independent market research agency - MARG, Karvy has been rated as Indias Most Admired Registrar on various parameters: Overall Excellence. Handling of Volumes Timely Dispatch Quality Management and Technological Up gradation. A SEBI Category 1 Registrar, So far, Karvy has handled over 675 ISSUES as Registrars to public issues processed over 52 million applications and is servicing over 16 million investors from various locations spread over 205 clients. 10. Loans:Karvy has recently started this service at selected branches of metro cities. This service has not been started in Varanasi region.Karvy provides loans for following:-

Vehicle Loan Home Loan Personal Loan

11. Equity Trading Platform:Karvy I-Zone Value Saver is a brand new comprehensive online investment platform launched by KARVY for the discerning clients. This product provides the requisite advise & resources to clients for making judicious investments decisions amongst various asset classes & products, based on specific risk and return profile of the client as well as on the time horizon for the investments. The investment advise is provided based on in-depth research conducted by KARVY. I-Zone Value Saver offers the advantage of confident investment transactions in equities, commodities and currency derivatives, mutual funds, IPOs of equity shares through a state-of-the-art online investment platform with fully secure online payment gateways with multiple banks.

12. Commodities Trading Platform:Commodities market, contrary to the beliefs of many people, has been in existence in India through the ages. However the recent attempt by the Government to permit Multi-commodity National levels exchanges has indeed given it, a shot in the arm. As a result two exchanges Multi Commodity Exchange (MCX) and National Commodity and derivatives Exchange (NCDEX) have come into being. These exchanges, by virtue of their high profile promoters and stakeholders, bundle in themselves, online trading facilities, robust surveillance measures and a hassle-free settlement system. The futures contracts available on a wide spectrum of commodities like Gold, Silver, Cotton, Steel, Soya oil, Soya beans, Wheat, Sugar, Chana etc., provide excellent opportunities for hedging the risks of the farmers, importers, exporters, traders and large scale consumers. They also make open an avenue for quality investments in precious metals. The commodities market, as it is not affected by the movements of the stock market or debt market provides tremendous opportunities for better diversification of risk. Realizing this fact, even mutual funds are contemplating of entering into this market.

Experiential Learning
Departments in which I have worked:1. Financial product Marketing 2. Income Tax enabled Services 3. Share Trading 4. Commodity Trading

1. Financial Product Marketing:This department is mainly concerned with marketing of financial products like Mutual Fund, IPO, FD, Insurance e.t.c. We have marketed all the products of karvy mainly insurance and Mutual Funds. We have sold mutual funds of companies like Reliance, HDFC, IDFC, L & T, DSP Blackrock e.t.c. 2. Income Tax enabled services:Karvy has started this service since March, 2004. Karvy is working as TIN Facilitation Centre it provides following IT enabled services. a. Distribution of PAN Card. b. Distribution of TAN Card. c. Services related to e-TDS. We have worked in this department and learnt how services related to Income Tax are provided to the clients. 3. Share Trading:In this department we have learnt about the share market and how share trading is done. We worked on the software of karvy for share trading. Along with this we have sold Demat A/C of Karvy. Name of the A/C is Karvy I-ZONE Value saver A/C.

4. Commodity Trading:In this department we have learnt about the commodity market. There are mainly three markets in India in which commodity trading is done MCX, NCDEX, and NSEL. In these three exchanges four type of commodities are traded Bullion, Agri products, Metals, Oil & Gas. We have also sold the commodity trading account of Karvy. It is now becoming more popular market for traders. Experience Gained and Suggestion to Karvy:Experience Gained:I have mainly gained experience of handling customers for selling financial products. I met about 300 people regarding purchase of these products. All of them were not having the same mindset regarding financial products. Some of them welcomed us and some of them have denied talking regarding theses products. I have learnt through books about marketing of products but in reality it is very tough to sell products to any customer. I have learnt also that how to give answer of doubts coming in the minds of customers. This learning is very useful for me because it is said that if can market financial products then you can market any type of products because it is very difficult to convince any customer for buying the financial product. Suggestions to Karvy:1. Dont put unnecessary burden on marketing guys for bringing business anyhow. It may tend to bring them in negative direction. 2. Give proper training to the employees before they are said to enter in the market. Because without proper training they can not bring business as the company is expecting. 3. Organize different programs time to time to motivate the employees. 4. Always tell the customers the things which are in the favor of customers to build long term relationship with them.

SECTION B

OBJECTIVES OF THE STUDY

Primary Objective Market penetration of Karvy Stock Broking Ltd Varanasi. Secondary Objective

To know the market share of major broking houses in Varanasi. To know the market position of Karvy stock broking Varanasi in:(a) Trading-share/commodity (b) Mutual funds (c) FDs/Bonds/Insurance Comparison of different broking houses in terms of brokerage charge. To know the customer satisfaction towards services provided by karvy stock broking. To study about efficiency and effectiveness of Karvy services in relation to competitor.

Literature Overview
HOW KARVY PENETRATE THEIR MARKET IN VARANASI

Karvy Varanasi provides all the services relates to stock trading and distribution of financial products. Its penetrate their market not only in main city of Varanasi but it spread their branches towards rural areas also. Large numbers of sub-brokers associate with this broking house who helps to provide better services in that areas where the employee or staff of broking house cant reach to deal with that customers who interested in stock market. Karvy Varanasi penetrates their market by uses demographic segmentation strategy and segment people based on their occupation. Company provides different services according to needs and requirement of financial products and stock trading. Company work as a financial advisor so its provides their valuable advice to their customer to make their financial portfolio in such a manner where customer gets profits. Due having cut throat competition in stock broking companies in Varanasi Karvy made different strategies to overcome with this problem and continues to make their customer base. For this company target rural areas by opening new branches and increase the number of sub-brokers. If we talk about customer we know that customer is a king in todays market he know which broking house they have to choose for their investment. No any customers blindly invest their money in through any broking houses. before investment they want to ensure whether their money will give good return or it just sink. For that Karvy provides world class services with minimum brokerage charge and special financial advices to their customers. Karvy fulfils all the quires relates to funds whether in stock trading or in financial products like transfer of securities from one demat account to other demat account, covert physical form of share to dematerialized form and vice-versa. Redemption of mutual funds on maturities or between that on requirement of customers, selection of best mutual funds among various companies.

Selection of best corporate fixed deposit, bonds and IPOs on regular basis. In spite of all one most important services that its provide is trading. Company provides online and off line services to their customer according to their suitabilitys. Under offline trading company does trading on behalf of their customer and provide as possible profits to them through deal in well performing stock companies. The brokerage charge that karvy Varanasi charge from their customers for DP services is much lesser than other broking house over there. Due to having cut throat competition among broking houses the broking charges varies in order to attract more customers towards their broking houses. Broking charge is one of the important factor that customers considers while choosing broking houses for stock trading. Because, if customer start trading with good margin and good profit in trading but he paying more as a broking charge from their earned profits to the broking house whom he choose for trading. So customer became more smart relate to their investment that which broking house is good in terms of broking charge and services. Now these are the comparison of account opening charge for demat and broking charge of different broking houses in Varanasi.

MARKETING STRATEGY OF KARVY Market Positioning: Market positioning statements of Karvy are At Karvy we give you single window service and We also ensure your comfort. So, Karvy focus on the consumers who prefer almost all investment activities at same place by providing number of various financial services. At Karvy a person can purchase or sell shares, debentures etc. and at the same place also demat it. Karvy also provides other investment option to the same person at same place like Mutual Fund, Insurance, Fixed Deposit, and Bonds etc. and help the person in designing his portfolio. By this way Karvy provides comfort to its customers. Karvy is also positioned according to Ries and Trout. Karvy is promoted as a no. 1 investment product distributor and R & T agent of India.

Target Market: Karvy uses demographic segmentation strategy and segment people based on their occupation. Karvy uses selective specialization strategy for market targeting. Target person for the Karvy Stock Broking and Karvy Investment Service are persons who can work as sub-broker for the companies. Companies focus on Advisors of Insurance and post office, Tax consultants and CAs for making subbroker.

Marketing channel System: Karvy uses one level marketing channel for investment product distribution. Subbrokers work as intermediary between consumer and company. Company has both forward and backward flow of activity through channel. Company distributes stationery, brokerage, and information forward to its sub-broker. The sub-brokers send filled forms, queries, amount of investment etc. back to the company.

Training Channel Members: Karvy provides training to the sub-brokers because they will be viewed as the company by the investors. The executives of Karvy explain various new schemes of investment to the sub-brokers with its objective, risk factors and expected return. Company also periodically arrange seminar to guide sub-brokers.

Advertising and Promotion: The objective of advertising of Karvy is to create awareness about services of Karvy among investors and sub-brokers and increase sub-brokers of Karvy.

Company doesnt give advertisement in media like TV, Newspapers, and Magazines etc. Karvys advertisement is made indirectly by the companies associate with it. Karvy is R & T agent of around 700 companies. They publish name, address and logo of Karvy on their annual report.

Karvy also publish its weekly Stock Market Newsletter Karvy Bazaar Baatein and monthly magazine The Finapolis to guide investors and sub-brokers about market.

SWOT ANALYSIS OF KARVY Strengths: Employees are highly empowered. Strong Communication Network. Good co-operation between employees. Number 1 Registrar and Transfer agent in India. Number 1 dealer of Investment Products in India. Weaknesses: High Employee Turnover. Opportunity: Growth rate of mutual fund industry is 40 to 50% during last year and it expected that this rate will be maintained in future also. Marketing at rural and semi-urban areas. Threats: Increasing number of local players. Past image of Mutual Fund.

Research Methodology
Type of Research: - Descriptive Research Type of to be Collected: - Primary Data & Secondary data Primary Data Collection Method: -Survey Primary Data Collection Technique:-Questionnaire Universe of the Study: - Investors in Varanasi Sample Size:-300 Sampling Technique: - Convenience Sampling Statistical Tools to be Used: - MS-Excel

Data Analysis Results and Interpretation

1. Investment pattern of investors in Varanasi.

In terms of investment in Varanasi 31% people are interested in Mutual Funds. After that share trading and commodity trading comes. FDs also contribute 13%.

2. Market penetration of karvy based on geographical coverage due to number of branches in Varanasi.

No of Branches
3 2 1 0 2 1 1 2 1 2 1

No of Branches

In terms of Number of branches Karvy is having 2 branches; also Anand Rathi and Religare have 2 branches.

3. Market penetration of karvy in Share trading / Commodity trading in Varanasi.

No of investors in %
11% 5% 3% Karvy ShareKhan

42%
15%

Angel Broking Religare Kotak Securities Anand Rathi

7%

17%

India Infoline

Market penetration of karvy in terms of share/commodity trading is 42%. Also share khan 17%, Religare 15%, and Anand Rathi 11% are the main competitors of karvy.

4. Market penetration of karvy in Mutual Fund in Varanasi.

Market penetration of karvy in terms of investment in Mutual Funds is also maximum which 49%. Rest 51% market is covered by Share khan Religare, Anand Rathi and angel Broking.

5. Market penetration of karvy in FD/Bond/Insurance in Varanasi.

Number of investors in FD/Bond/Insurance is also maximum in Karvy which is 31%. Most of Investors trust on karvy thats why they invest through karvy.

6. Karvys customers satisfaction.

Investor satisfaction
100

80
60 40 20 0

80%

17% Satisfied Partially satisfied

3% Dissatisfied

80 % of customers of karvy are satisfied with the services of karvy. This shows that karvy is most efficient broking house in Varanasi which provides best services.

Comparative analysis of various stock broking companies on the basis of activation charges, brokerage, and services
In the competitors list there are big names such as: Share khan, Angel broking, Religare, India Infoline, Kotak securities, Anand Rathi, etc

CRITERIA Demat a/c opening charges

KARVY STOCK BROKING 500 & 250(with advance brokerage of 2000& 5000 refundable after one year) Intraday-3p, 2.5p, & 2p Delivery- 30p,25p, & 20p

Brokerage intra day, delivery

AMC(Annual Maintenance Charges) Trading funding intra day, delivery

Rs.375 8times in intraday & equal to margin money in account for delivery. Rs. 3 per Certificate/ Rs.20 for every 100 securities or Rs.20/certificate, whichever is less T+2 DAYS Both online and offline No limit No extra charges

Dematerialized charge/ Rematerialized charge

Debit period Mode of trading Margin money Software installation charges

CRITERIA Demat a/c opening charges Brokerage intra day, delivery AMC(Annual Maintenance Charges) Trading funding intra day, delivery

SHAREKHAN Nil 5p for intraday & 50p for delivery Rs.500 4-6 times

Dematerialized charge/ Rematerialized charge

Rs. 5 per Certificate/ Rs. 50 per Certificate or Rs.50 for every 100 securities. T+4 DAYS Both online and offline 3000 No extra charges

Debit period Mode of trading Margin money Software installation charges

CRITERIA Demat a/c opening charges Brokerage intra day, delivery

ANGEL STOCK BROKING 660 Classic plan: 3p ,20p Freedom plan; 1p,10p

AMC(Annual Maintenance Charges) Trading funding intra day, delivery

Rs.225 6times,4 times(minimum stock Rs 50000) T+2 DAYS Both online and offline 5000,5000,10000 No extra charges

Debit period Mode of trading Margin money Software installation charges

CRITERIA Demat a/c opening charges Brokerage intra day, delivery AMC (Annual Maintenance Charges) Trading funding intra day, delivery

RELIGARE SECURITIES LTD Rs.500 4p, 50p Rs. 285 6times,4 times(minimum stock rs 50000) T+2 DAYS Both online and offline 5000 No extra charges

Debit period Mode of trading Margin money Software installation charges

CRITERIA Demat a/c opening charges Brokerage intra day, delivery

INDIAINFOLINE Rs. 750 Intraday-5p,2p Deelivery- 50p,20p

AMC (Annual Maintenance Charges) Trading funding intra day, delivery

Rs. 300 10 times, 4 times

Debit period Mode of trading Margin money Software installation charges

T+2 day Both online and offline 2000 No extra charges

CRITERIA Demat a/c opening charges Brokerage intra day, delivery AMC(Annual Maintenance Charges) Trading funding intra day, delivery

Kotak securities .com RS 750 6P,60P RS 360 7times,4 times

Debit period Mode of trading Margin money Software installation charges

T+2 Offline Rs8000/_

CRITERIA Demat a/c opening charges Brokerage intra day, delivery AMC(Annual Maintenance Charges) Trading funding intra day, delivery

Anand Rathi Rs 500 3p ,50p First year Nil & from 2nd year Rs.400 6 times,4 times

Debit period Mode of trading Margin money Software installation charges

T+2 Both 5000 1000

Result On The Basis Of Facilities

Facilities

Angel Broking

Religare

Kotak Sharekhan India Securities Infoline

Karvy

Anand Rathi

Share Trading

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Commodity Yes Trading

Yes

Yes

Yes

Yes

Yes

Yes

D-mat opening right

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Inference: In this case we find all stock Brokers Provide all types of facility at the different charge.

COMPARATIVE ANALYSIS

After the whole study, we find out the following results. Results on the basis of charges There are the two types of the transaction: 1. Intra- Day Based 2. Delivery Based
0.7 0.6 0.5 0.4 0.3 0.2 0.1 0 0.03 0.05 0.04 0.03 0.05 0.03 0.06 0.3 0.2 Intraday Delivery 0.5 0.5 0.5 0.5

0.6

All the figures are in paisa/100repees. Inference: According to the survey Kotak Securities charges maximum charge 0.06paisa and 0.60 paisa brokerage as compare to another in Intra-day and delivery time and IndiaInfoline & Share khan is second one which charge maximum while Angel Broking & Karvy Stock Broking minimum charge 0.03/ 0.20pasia & 0.03/0.30 in both Intra-day/delivery on the maximum investment.

Findings
Most preferable investment in current scenario is Mutual Fund/SIP in comparison to other funds. After analysis it found that most of customers are satisfied with Karvy. Now commodity market is more preferred by investors. Presence of karvy in terms of no of branches is equal to other broking houses. Market penetration in terms product selling is more than other broking firms. Karvy is the no 1 choice of investors due to better services, Trust, Security, as advisor. It shows that Karvys service is more effective in Varanasi. After comparison of different firms in brokerage charge I have found Karvy is on third position, but reason behind more brokerage is types of services provided by karvy.

Suggestions
There is too much paper formality while opening of Demat A/c. hence, these formalities should less as much as possible. Some promotional activities are required for awareness to the customer. Seminars should be held for providing information to prospective and present customer. Karvy should open more number of branches to capture the market. Karvy should also give flexibility in brokerage charges. Also some training program for employees to inform them about products.

Limitations

The sample extent for research is only Varanasi City. Size of the research may not be substantial. There was lack of time on the part of respondents. The survey was carried through questionnaire and interviews The questions were based on perception. There may be biasness in information by market Participant. Complete data was not available due to company privacy and secrecy.

Conclusion
On the basis of the study it is found that Karvy Stock Broking Ltd. is better services provider. KSBL provides the facility of Online as well as Offline trading facility for encouragement and protects the interest of the investors.

It also provides the information through the Internet and mobile alerts that what IPOs are coming in the market and it also provides its research on the future prospect of the IPO.

It concludes that people are not much aware of commodity market and while its going to be biggest market in India. Company also provides advisory services to customer for making their financial portfolio for different financial products.

The company should also organize seminars and similar activities to enhance the knowledge of prospective and existing customers, so that they feel more comfortable while investing in the stock market.

Appendix
Questionnaire Name: Occupation:1. Are you interested/invested in Financial Products? a) Yes b) No 2. In which financial product did you invest? a) Mutual Funds b) Share c) Commodities d) FD e) Others 3. In which company you have D-mat account? a) Karvy b) Share khan Ltd c) Religare d) Angel Broking. e) Anand Rathi f) Kotak g) Indiainfoline 4. Through which Broking firm you have invested in Mutual Fund? a) Karvy b) Share khan Ltd c) Religare d) Angel Broking. e) India Infoline f) Kotak g) Anand Rathi 5. Through which Broking Firm you invest in FD/Bond/Insurance? a) Karvy b) Share khan Ltd c) Religare d) Angel Broking. e) India infoline f) Kotak g) Anand Rathi 6. Are you satisfied with the services of Karvy? a) Yes b) No c) Partially Age: Qualification:-

Bibliography

Books:Karvyfinapolies Magazines NCFMs Books for: - DP services, Capital market, Mutual Funds

Websites
http://www.karvy.com http://www.karvycomtrade.com http://www.wikipedia.com http://www.amfiindia.com http://www.moneycontral.com http://www.sharekhan.com http://www.indiainfiline.com http://www.karvythefinafolish.com