Summer Training Project Report: Nirmal Bang Securities Pvt. LTD

SUMMER TRAINING PROJECT REPORT
Scope & Current Scenario of Online Trading in Equity Market For
Nirmal Bang Securities Pvt. Ltd.

Towards partial fulfillment of Master of business administration (M.B.A.) (affiliated to G.B. TECH. University Lucknow)
SUBMITTED TO:DR. M.K. RASTOGI ( HOD MBA) BBD-NIEC SUBMITTED BY:AKANKSHA SHARMA MBA 2ND YEAR
SESSION 2011-2012 DEPARTMENT OF MANAGEMENT

NORTHERN INDIA ENGINEERING COLLEGE Sec.-1 Dr. Akhilesh Das Nagar, Faizabad Road Lucknow, (u.p.) India
PREFACES
In the economy for tightening Business nuts and bolt of any company industries or enterprises it is necessary to measure it market position in a certain time interval with ever changing theories and the concept of market. For this assessment we need the robust methodology of survey. Although surveys does not reveal the absolute solution of any objectives, but it provides the inclination towards a good output Nirmal Bang a good share trading company in Indian market. In this project we compare the future of this company. Find the awareness level, market potential of this company etc. The preparation of this report provides you great pleasure in releasing our work and market experiences in few pages which shows overall and experienced knowledge and the practical approach about the style of a professional and thing which we found various affecting to our marketing and product image. The project termed as SCOPE AND CURRENT SCENARIO OF ON LINE TRADING IN EQUITY MARKET has made an effort to find out the issues concerning with the NIRMAL BANG SECURITIES PVT LTD.
ACKNOWLEGDEMENT
I am neither a research expert nor a trend spotter; I am a management student with foundation of management principles and theories, who is curious about various sectors and its latest happenings. Definitely, I cant ignore the technology, with internet as the backbone and those search engines which helped me in building up this research project. First and foremost, I would like to thank and express my gratitude to Nirmal Bang Financial Group which is a leading organization in Stock & Commodity trading, for giving me an opportunity to work in their organization. During my tenure, I undertook Market Research & Cross selling and gained hands on knowledge about the actual stock market scenario. My special obligation lies to my corporate guide Miss. Anila khan (Relationship Manager), NIRMAL BANG SECURITIES (PVT) LTD Who helped me in sharpening my thinking by cheerfully
providing challenging comments and questions. Without the individuals have provided, this project would have lost much of its refreshing realism. Im also thankful to the management & all employees of NIRMAL BANG SECURITIES LTD. I would also like to mention about my faculty guide, Mr sanjay kumar, Mr. k.k. pandey & Mr, shikher srivastava, without his guidance & support, it would not have been possible for me for the completion of the project. I would also like to thank all our faculties who have taught me and have shared their experience with me which has helped me in doing my project also like to thank of Nirmal Bang Financial Group for helping me and providing me useful & necessary information related to the project. I would take this opportunity to thank all senior executives and every associates of Nirmal Bang Group without their cooperation I would not be able to complete this project.
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Lastly, I would like to thanks to the ALMIGHTY and my parents for their moral and financial support and my colleagues with whom I shared my dad-to-day experiences and received lots off suggestions that improved my work quality. (Akanksha Sharma)
EXECUTIVE SUMMERY
This project offers a valuable opportunity to take a glimpse about the equity market and also the preference of consumer.In todays increasingly competitive and complex world it is vital to choose proper way to maintain customer chain and the brand equity of product and service. The equity brokerage industry in India is one of the oldest in the Asia region. India had an
active stock market for about 150 years that played a significant role in developing risk markets as also promoting enterprise and supporting the growth of industry. The roots of a stock market in India began in the 1860s. At that time brokers used to gather to seek stock tips & share news on step of a bank building. After being disallowed to use the steps of the bank building the share brokers had to find a place their own which later turn in to DALAL STREET. A group of about 300 brokers formed the stock exchange in Jul 1875, which led to the formation of a trust in 1887 known as the Native Share and Stock Brokers Association. A unique feature of the stock market development in India was that it was entirely driven by local enterprise, unlike the banks which during the pre independence period were owned and run by the British. Following the establishment of the first stock exchange in Mumbai, other stock exchanges came into being in major cities in India, namely Ahmadabad (1894), Calcutta (1908), Madras (1937), Uttar Pradesh and Nagpur (1940) and Hyderabad (1944). The stock markets gained from surge and boom in several industries such as jute (1870s), tea (1880s and 1890s), coal (1904 and 1908) etc, at different points of time.
A new phase in the Indian stock markets began in the 1970s, with the introduction of Foreign Exchange Regulation Act (FERA) that led to divestment of foreign equity by the multinational companies, which created a surge in retail investing. The early 1980s witnessed another surge in stock markets when major companies such as Reliance accessed equity markets for resource mobilization that evinced huge interest from retail investors. From the year 1987 broking houses like Ashika, India Bulls, Motilal Owsal came in to existence in
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share broking industry. Then the share broking business gets the test of corporate house and becomes more organized. In later days companies like Reliance, Kotak, ICICI etc emerged in the share broking business. My study is emphasizing on the basics of stock market and to know the perception of people about it. Here my study tries to help Nirmal Bang to choose the proper and customized customer service strategy and to achieve their goal in future. The data collection is an analyzed and some practical tools were applied to get inferences from the survey. The results are printed in the graphs and diagrams. The conclusion is that Nirmal Bang securities Pvt Ltd. In India in good condition. The research report has two sections in its first section company and industry profile is given, where as second Research Methodology is given which includes samples design, analysis on sample and presentation is in the form of diagram and charts. Finally some suggestions with respect to the survey for the future improvement is given to improve the survey because their competitors have also taken up the surveys. At the end of the report limitations, SWOT analysis, conclusion of the research and Appendix which includes questionnaire and the list of the city where the Sriram insight share brokers Ltd are running. Last there is Bibliography, FAQ, and Glossary that has the technical terms of the report.
TABLE OF CONTENTS
1 PREFACE
ACKNOWLEDGMENT
EXECUTIVE SUMMARY
INTRODUCTION-INDUSTRY PROFILE
COMPANY PROFILE-SPECIFIC INFORMATION OF ORGANISATION
OBJECTIVES OF STUDY
RESEARCH METHODOLOGY
PROBLEMS AND LIMITATIONS
FINDINGS ANALYSIS AND INTERPRITATION
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SWOT/ETOP ANALISIS
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SUGGESITION AND RECOMMENDATION
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CONCLUSION
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APENDIX:QUESTIONNAIR
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BIBLIOGRAPHY
INDUSTRY PROFILE
HISTORY OF THE STOCK BROKING INDUSTRY:Indian Stock Markets are one of the oldest in Asia. Its history dates back to nearly 200 years ago. In 1887, they formally established in Bombay, the "Native Share and Stock Brokers' Association" (which is alternatively known as "The Stock Exchange"). In 1895, the Stock Exchange acquired a premise in the same street and it was inaugurated in 1899. Thus, the Stock Exchange at Bombay was consolidated. Thus in the same way, gradually with the passage of time number of exchanges were increased and at currently it reached to the figure of 24 stock exchanges. This was followed by the formation of associations /exchanges in Ahmadabad (1894), Calcutta (1908), and Madras (1937). In order to check such aberrations and promote a more orderly development of the stock market, the central government introduced a legislation called the Securities Contracts (Regulation) Act, 1956. Under this legislation, it is mandatory on the part of stock exchanges to seek government recognition. As of January 2002 there were 23 stock exchanges recognized by the central Government. They are located at Ahmadabad, Bangalore, Baroda, Bhubaneswar, Calcutta, Chennai, (the Madras stock Exchanges), Cochin, Coimbatore, Delhi, Guwahati, Hyderabad, Indore, Jaipur, Kanpur, Ludhiana, Mangalore, Mumbai (the National Stock Exchange or NSE), Mumbai (The Stock Exchange), popularly called the Bombay Stock Exchange, Mumbai (OTC Exchange of India), Mumbai (The Interconnected Stock Exchange of India), Patna, Pune, and Rajkot. Of course, the principle bourses are the National Stock Exchange and The Bombay Stock Exchange, accounting for the bulk of the business done on the Indian stock market.
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BSE (BOMBAY STOCK EXCHANGE):The Stock Exchange, Mumbai, popularly known as "BSE" was established in 1875 as "The Native Share and Stock Brokers Association". It is the oldest one in Asia, even older than the Tokyo Stock Exchange, which was established in 1878. It is the first Stock Exchange in the Country to have obtained permanent recognition in 1956 from the Govt. of India under the Securities Contracts (Regulation) Act, 1956. A Governing Board having 20 directors is the apex body, which decides the policies and regulates the affairs of the Exchange. The Governing Board consists of 9 elected directors, who are from the broking comm. Unity (one third of them retire ever year by rotation), three SEBI nominees, six public representatives and an Executive Director & Chief Executive Officer and a Chief Operating Officer.
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NSE (NATIONAL STOCK EXCHANGE):NSE was incorporated in 1992 and was given recognition as a stock exchange in April 1993. It started operations in June 1994, with trading on the Wholesale Debt Market Segment. Subsequently it launched the Capital Market Segment in November 1994 as a trading platform for equities and the Futures and Options Segment in June 2000 for various derivative instruments.
MCX (MULTI COMMODITY EXCHANGE):MULTI COMMODITY EXCHANGE of India limited is a new order exchange with a mandate for setting up a nationwide, online multi-commodity market place, offering unlimited growth opportunities to commodities market participants. As a true neutral market, MCX has taken several initiatives for users in a new generation commodities futures market in the process, become the countrys premier exchange. MCX, an independent and a de-mutualized exchange since inception, is all set up to introduce a state of the art, online digital exchange for commodities futures trading in the country and has accordingly initiated several steps to translate this vision into reality.
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NCDEX (NATIONAL COMMODITIES AND DERIVATIVES EXCHANGE):NCDEX started working on 15th December, 2003. This exchange provides facilities to their trading and clearing member at different 130 centers for contract. In commodity market the main participants are speculators, hedgers and arbitrageurs. Facilities Provided By NCDEX NCDEX has developed facility for checking of commodity and also provides a wear house facility By collaborating with industrial partners, industrial companies, news agencies, banks and developers of kiosk network NCDEX is able to provide current rates and contracts rate. To prepare guidelines related to special products of securitization NCDEX works with bank. To avail farmers from risk of fluctuation in prices NCDEX provides special services for agricultural. NCDEX is working with tax officer to make clear different types of sales and service taxes. NCDEX is providing attractive products like weather derivatives
STOCK MARKET BASIC
What are corporations? Companies are started by individuals or may be a small circle of people. They pool their money or obtain loans, raising funds to launch the business. A choice is made to organize the business as a sole proprietorship where one Person or a married couple owns everything, or as a partnership with others who may wish to invest
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money. Later they may choose to"incorporate". As a Corporation, the owners are not personally responsible or liable for any debts of the company if the company doesn't succeed. Corporations issue official-looking sheets of paper that represent ownership of the company. These are called stock certificates, and each certificate represents a set number of shares. The total number of shares will vary from one company to another, as each makes its own choice about how many pieces of ownership to divide the corporation into. One corporation may have only 2,500 shares, while another, such as IBM or the Ford Motor Company, may issue over a billion Shares. Companies sell stock (pieces of ownership) to raise money and provide funding for the expansion and growth of the business. The business founders give up part of their ownership in exchange for this needed cash. The expectation is that even though the owners have surrendered a portion of the company to the Public, their remaining share of stock will become increasingly valuable as the business grows. Corporations are not allowed to sell shares of stock on the open Stock market without the approval of the Securities and Exchange Commission (SEC). This transition from a privately held corporation to a publicly traded one is called going public, and this first sale of stock to the public is called an initial public offering, or IPO.
Why do people invest in the stock market? When you buy stock in a corporation, you own part of that company. This gives you a vote at annual shareholder meetings, and a right to a share of future profits. When a company pays out profits to the shareholder, the money received is called a "Dividend". The corporation's board of directors choose when to declare a dividend and how much to pay. Most older and larger companies pay a regular dividend; most newer and smaller companies do not. The average investor buys stock hoping that the stock's price will
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rise, so the shares can be sold at a profit. This will happen if more investors want to buy stock in a company than wish to sell. The potential of a small dividend check is of little concern. What is usually responsible for increased interest in a company's stock is the prospect of the company's sales and profits going up. A company who is a leader in a hot industry will usually see its share price rise dramatically. Investors take the risk of the price falling because they hope to make more money in the market than they can with safe investments such as bank CD's or government bonds.
What is a stock market index? In the stock market world, you need a way to compare the movement of the market, up and down, from day to day, and from year to year. An index is just a benchmark or yardstick expressed as a number that makes it possible to do this comparison. For e.g. S&P CNX Nifty is the index of NSE and SENSEX is the index of BSE. The price per share, like the market cap, has nothing to do with how big a company is The Securities Market consists of two segments, viz. Primary market and Secondary market. Primary market is the place where issuers create and issue equity, debt or hybrid instruments for subscription by the public; the Secondary market enables the holders of securities to trade them. Secondary market essentially comprises of stock exchanges, which provide platform for purchase and sale of securities by investors. In India, apart from the Regional Stock Exchanges established in different centers, there are exchanges like the National Stock Exchange (NSE) and the Over the Counter Exchange of India (OTCEI), who provide nation wide trading facilities with terminals all over the country. The trading platform of stock exchanges is accessible only through brokers and trading of securities is confined only to stock exchanges.
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Corporate Securities: The no of stock exchanges increased from 11 in 1990 to 23 now. All the exchanges are fully computerized and offer 100% on-line trading. 9644 companies were available for trading on stock exchanges at the end of March 2002. The trading platform of the stock exchanges was accessible to 9687 members from over 400 cities on the same date.
Derivatives Market:Derivatives trading commenced in India in June 2000. The total exchange traded derivatives witnessed a volume of Rs. 442,343 crore during 2002-03 as against Rs. 4018 crore during the preceding year. While NSE accounted for about 99.5% of total turnover, BSE accounted for about 0.5% in 2002-03. The market witnessed higher volumes from June 2001 with introduction of index options, and still higher volumes with introduction of stock options in July 2001. There was a spurt in volumes in November 2001 when stock futures were introduced. It is believed that India is the largest market in the world for stock futures.
Supply and Demand:A stock's price movement up and down until the end of the trading day is strictly a result of supply and demand. The SUPPLY is the number of shares offered for sale at anyone one moment. The DEMAND is the number of shares investors wish to buy at exactly that same time. What a share of a company is worth on anyone day or at any one minute, is determined by all investors voting with their money. If investors want a stock and are willing to pay more, the price will go up. If investors are selling a stock and there aren't enough buyers, the price will go down Period.
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Secondary Market Intermediaries:Stock brokers, sub-brokers, portfolio managers, custodians, share transfer agents constitute the important intermediaries in the Secondary Market. No stockbrokers or sub-brokers shall buy, sell or deal in securities unless he holds a certificate of registration granted by SEBI under the Regulations made by SEBI ion relation to them. The Central Government has notified SEBI (Stock Brokers & Sub-Brokers) Rules, 1992 in exercise of the powers conferred by section 29 of SEBI Act, 1992. These rules came into effect on 20th August, 1992.
Trading Through Brokers / Traditional Method of Share Trading:Trading in the stock exchange can be conducted only rough member broker in securities that are listed on the respective exchange. Investor intending to buy/sell securities in the exchange has to do so only through a SEBI registered broker/sub-broker. This is very popular concept in India for Share Trading before the facilities like on line trading introduce. Both the exchange have switched over from the open outcry trading system to fully automated computerized mode of trading knows as Bolt and Neat. In this system, the broker trade with each other through the computer network. Buyers and sellers place their orders specifying the limits for quality and price. Those that are not matched remain on the screen and is opened for future matching during the day / settlement. After the advent of computerized trading the speed of trading has increased multi-fold and a fuller view of the market is available to the investors. To start dealing with broker you have to fill a form with the broker. After fill all the formalities the firm gives you a User Id no like a bank a/c no. through which you can enter in the transaction with broker. Broker will gives all the which one investor needed.
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contract agreement
cash
derivatives
intraday
dilevery
future
option
What is stock Broker? A stock broker is one who invests other peoples money until its all gone. Woody Allen, American Film Maker A stock broker is a person or a firm that trades on its clients behalf, you tell them what you want to invest in and they will issue the buy or sell order. Some stock brokers also give out financial advice that you a charged for. It wasnt too long ago and investing was very expensive because you had to go through a full service broker which would give you advice on what to do and would charge you a hefty fee for it. There are three different types of stock brokers. 1. Full Service Broker - A full-service broker can provide a bunch of services such as investment research advice, tax planning and retirement planning. 2. Discount Broker A discount broker lets you buy and sell stocks at a low rate but doesnt provide any investment advice.
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3. Direct-Access Broker- A direct access broker lets you trade directly with the electronic communication networks (ECNs) so you can trade faster. Active traders such as day traders tend to use Direct Access Brokers No. of stock broker in India:9368:- Total no of share broker in the country 12687:- The no. of sub-broker. 46%:- The share of trades accounted for by NSE broker 90%: The share of on line trades clocked by segments top five companies Generally there are two types of trading have been done in India which is given below: On line Trading / E Broking / Modern Method Trading through Brokers / Traditional method of Share trading
Importance Of Stock Market:
Function and purpose
The stock market is one of the most important sources for companies to raise money. This allows businesses to be publically traded or raised additionally capital for expansion by selling share of ownership of the company in a public market.
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The liquidity that an exchange provides affords investors the ability to quickly and easily sell securities. This is an attractive feature of investing in stocks, compared to other less liquid investment such as real estates. History has shown that the price of shares and other assets is an important part of the dynamic of economies activity, and can influence or be an indicator of social mood. An economy where the stock market is on the rise is considered to be an up and coming economy. In fact, the stock market is often considered the primary indicators of a countrys economics strength and development. Rising share prices, for instance, tend to be associated with increased business investment and vice versa. Share prices also affect the wealth of household and their consumption. Therefore, central banks tend to keep an eye on the control and behavior of the stock market and, in general, on the smooth operation of financial system functions. Financial stability is the raison dtre of central banks. Exchanges also act as the clearinghouses for each transaction, meeting that they collect and deliver the shares, and guarantee payment to the seller of a securities. This eliminates the risk to an individual buyers or seller that the counterparty could default on the transaction. The smooth functioning of all these activities facilities economys growth in that lower costs enterprise risks promote the production of goods and services as well as employment. In this way the financial system contribution to increased prosperity. An important aspect of modern markets, however, including the stock markets, is absolute discretion.
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For example, in the USA stock we see more unrestrained acceptance of any firm than in similar markets. Such as, Chinese firms with no significant value to American society to just name one segment. This profit USA banker on Wall Street, as they reap large commissions from the placement, and the Chinese company which yields funds to invest in china. Yet accrues no intrinsic value to the long-term stability of the American economy, rather just short-term profits to American business man and the Chinese; although, when foreign company has a presence in the new market, there can be benefits to the markets citizens. Conversely, there are very few large foreign corporation listed on the Toronto Stock exchange TSX, Canadas largest stock exchange. This discretion has insulated Canada to some degree to worldwide financial condition. In order for the stock markets to truly facilitate economys growth via lower costs and better employment, great attention must be given to the foreign participants being allowed in. Relation of the stock market to the modern financial system. The financial system in most western countries has undergone a remarkable transformation. One features of this development is disintermediation. A portion of the funds involved in saving and financing bank lending and deposit operation. The general publics heightened interest in investing in the stock market, either directly or through mutual funds, has been an important component of this process. Statistics show that in recent decades share have made up an increasingly large proportion of households financial assets in many countries.
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In the 1970s, in Sweden, deposit account and other very liquid assets with little risk made up almost 60 percent of households financial wealth, compared to less than 20 percent in the 2000s. The major part of this adjustment in financial portfolio has directly to shares but a good deal now take the form of various kinds of institutional investment for groups of individuals, e.g., pension funds, mutual funds, hedge funds, insurance investment of premiums, etc. The trend towards form of saving with a higher risk has been accentuated by new rules for most funds and insurance, permitting a higher proportion of shares to bonds. Similar tendencies are to be found in other industrialized countries. In all developed economies system, such as the European Union, the United State, Japan and other developed nations, the trend has been the same: saving has moved away from traditional (government insured) bank deposits to more risky securities of one sort or another.
The Stock Market, Individual Investors, and Financial Risk:
Riskier long-term saving required that an individual possess the ability to manage the associated increased risks. Stock prices fluctuated widely, in marked contrast to the stability of (government insured) bank deposits or bonds. This something that could affect not only the individual investors or households, but also the economy on a large scale. The following deals with some of the risks of the financial sectors in general and the stock market in particular.
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This is certainly more important now that so many newcomers have entered the stock market, or have acquired other risky investment (such as investment property, i.e., real estate and collectables.) With each passing year, the noise level in the stock market rises. Television commentators, financial writers, analysis, and market strategies are all over taking each other to get investors attention. At the same time, individual investors, immersed in chat rooms and message boards, are exchanging questionable and often misleading tips. Yet, despite all this available information, investors find it increasingly difficult to profit. Stock prices skyrocket with little reasons, then plummet just as quickly. And people who have turned to investing for their childrens education and their own retirement become frightened. Sometimes there appears to be no rhyme or reason to the market, only folly. This is a quote from the prefaces to a published biography about the long-terms value oriented stock investors warren Buffett.
The behavior of the stock market:
From experiences we know that investors may temporarily move financial prices away from their long terms aggregate price trend (positive or up trends are referred to as bull markets: negative or down trends are referred to as bear markets.)
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Over-reaction may occur so that excessive optimism (euphoria) may drive prices unduly high or excessive pessimism may drive unduly low. New theoretical an empirical arguments have since been put forward against the notion that financial markets are generally efficient (i.e., in the sense that prices in the aggregate tends to follow a Gaussian distribution.) (But this largely theoretic academic viewpoint- knows as hard EMH- also predicts that little or no trading should take place, contrary to fact, since prices are already at or near equilibrium, having priced in all public knowledge.) The hard efficient-market hypothesis is sorely tested by such events as the stock market crash in 1987, when the Dow Jones index plummeted 22.6 percentthe largest-ever one-day fall in the United States. This events demonstrated that share prices can fall dramatically even though, to this day, it is impossible to fix a generally agreed upon definite cause: a thorough search failed to detect any reasonable development that might have accounted for the crash. (But note that such events are predicted to occur strictly by chance, although very rarely.) It seems also to be the case more generally that many price movements (beyond that which are predicted to occur randomly) are not occasioned by new information: a study of the fifty largest one-day share prices movements in the United States in the post-war period seems to confirm this. However, a soft EMH has emerged which does not required that prices remain at or near equilibrium, but only that market participants not be able to systematically profits from any momentary market inefficiencies. Various explanation for such large and apparently non-random prices movement have been promulgated. For instance, some research has shown that change in estimated risks, and the
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use of certain strategies, such as stop-loss limit and value at Risk limits, theoretically could cause financial markets to overcorrect. But the best explanation seems to be that the distribution of stock market prices is nonGaussian (in which case EMH, in any of its current forms, would not be strictly applicable.) Other research has shown that psychological factors may result in exaggerated (statically anomalous) stock prices movement (contrary to EMH which assumes such behaviors cancel out). Psychological research has demonstrated that peoples are predisposed to seeing patterns, and often will perceive a pattern in what is, in fact, just noise, (something like seeing familiar shapes in clouds or ink blots.) In the present context this means that a succession of good new items about a company may lead investors to overreact positively (unjustifiably driving the prices up). A period of good returns also boosts the investors self-confidence, reducing his (psychological) risk threshold. Another phenomenonalso from psychologythat works against an objective assessment is group thinking. As social animal, it is now easy to stick to an opinion that differs markedly from that of a majority of the group. An example with which one may be familiar is the reluctance to enter a restaurant that is empty; people generally prefer to have their opinion validated by those of other in the group. In one paper the authors draw an analogy with gambling. In normal times the market behaves like a game of roulette; the probabilities are known and largely independent of the investment decision of the different players.
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In times of market stress, however, the game becomes more like poker (herding behavior takes over). The players now must give heavy weight to the psychology of other investors and how they are likely to react psychology. The stock market, as any other business, is quite unforgiving of amateurs. Inexperienced investors rarely get the assistance and support they need. In the period running up to 1987 crash, less than 1 percent of the analysis recommendation had been to sell (and even during the 2000-2002 bear market, the average did not above 5%). In the run up to 2000, the media amplified the general euphoria, with reports of rapidly rising share prices and the notion that large sums of money could be quickly earned in the so called In the run up to 2000, the media amplified the general euphoria, with reports of rapidly rising share prices and the notion that large sums of money could be quickly earned in the so called new economy stock market. (And later amplified the glom which descended during the 2000-2002 bear market, so that by summer of 2002, prediction of a DOW average below 5000 were quite common).
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COMPANY PROFILE
Incorporation Year 1987:Nirmal Bang Group:Incorporated by Mr. Nirmal Bang, it started its equity broking business operations in 1987 as a sub-broker. Currently, Group is engaged in various capital market related operations like equity broking, commodity broking, arbitrage trading, investment activities, margin funding, and distribution of the financial products. All the group companies are held 100% , directly or in-directly by the promoters.
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ABOUT NIRMAL BANG
INTRODUCTION:-
Nirmal Bang Group is one of the largest retail broking house in India, providing the investors state of art services in capital markets in the country. The Group has memberships of Bombay Exchange Limited, National Stock of India Limited, Multi Commodity Exchange of India Limited, National Commodity and Derivatives Exchange Limited and is also a depository participant of NSDL and CDS (I) L, the depositories of the country. They started in 1986 under Late Shri Nirmal Bang as sub brokers but have grown steadily and progressively since then. Their clients had contributed tremendously to their growth they recognize and applaud that, they value their relationship with the customers and for their convenience had all investing avenues under one roof.
NIRMAL BANG consultant

As the flagship company of the NIRMAL BANG Group, NIRMAL BANG Private Limited has always remained at the helm of organizational affairs, pioneering business policies, work ethic and channels of progress. NIRMAL BANG believe that they were best positioned to venture into that activity as a Depository Participant. They were one of the early entrants registered as Depository Participant with NSDL (National Securities Depository Limited), the first Depository in the
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country and then with CDSL (Central Depository Services Limited). Today, It service over 1Lac customer accounts in this business spread across over 350 cities/towns in India and are ranked amongst the largest Depository Participants in the country. With a growing secondary market presence. It has transferred this business to NIRMAL BANG SECURITIES PRIVATE LIMITED (NBSPL), their associate and a member of NSE, BSE, MCX & NCDEX.
NIRMAL BANG --- Early Days

The birth of NIRMAL BANG was on a modest scale in 1986. It began with the vision and enterprise of a small group of practicing Chartered Accountants who founded the flagship company. NIRMAL BANG Securities Private Limited. It started with consulting and financial accounting automation, and carved inroads. Since then, They have utilized their experience and superlative expertise to go from strength to strengthto better their services, to provide new ones, to innovate, diversify and in the process, evolved NIRMAL BANG as one of Indias premier integrated financial service enterprise. Thus over the last 20 years NIRMAL BANG has traveled the success route, towards building a reputation as an integrated financial services provider, offering a wide spectrum of services. And they have made this journey by taking the route of quality service, path breaking innovations in service, versatility in service and finally totality in service. Their highly qualified manpower, cutting-edge technology, comprehensive infrastructure and total customer-focus has secured for them the position of an emerging financial services giant enjoying the confidence and support of an enviable clientele across diverse fields in the financial world. Their values and vision of attaining total competence in their servicing has
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served as the building block for creating a great financial enterprise, which stands solid on their fortresses of financial strength - their various companies. With the experience of years of holistic financial servicing behind them and years of complete expertise in the industry to look forward to, they have now emerged as a premier integrated financial services provider. And today, they can look with pride at the fruits of their mastery and experience comprehensive financial services that are competently segregated to service and manage a diverse range of customer requirements.
NAME
POSITION
Mr. Dilip M. Bang
Director
Mr. Kishore M. Bang
Director
Mr.Rakesh Bhandari
Chartered Accountant
Mr. Deepak Agarwal
Mr.Suvinay Sharma
Mr.Naresh Samdani
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Mr. Deepak Patel
Mr. Sunil Jain
Mr.Anup Agarwal
Mr.Brijmohan Bohra
Miss. Monika Bafna
Mr.Brijmohan Bohra
Nirmal Bang Securities Private Limited:Nirmal Bang Securities Private Limited is a flag-ship company of Nirmal Bang Group, and started its broking operations under corporate license in 1997. Currently, NBSPL is engaged in equity broking, arbitrage trading, depository operations and distribution of the financial products. NBSPL is held 100% directly or indirectly by the promoters. Nirmal Bang Group is one of the largest retail broking houses in India, providing the investors state of art services in capital markets in the country. We are a financial services
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company in India, offering a wide range of financial products and services targeted at retail investors, high net worth individuals and corporate and institutional clients. The Group has memberships of Bombay Stock Exchange Limited, National Stock Exchange of India Limited, Multi Commodity Exchange of India Limited, National Commodity and Derivatives Exchange limited and is also a Depository participant of NSDL and CDS (I) L, the Depositories of the country.
Our principal group companies are: Nirmal Bang Securities Private Limited Member- National Stock Exchange of India Limited Member- Bombay Stock Exchange Limited Participant- National Securities Depository Limited Participant- Central Depository Services (India) Limited
Nirmal Bang Commodities Private Limited Member- Multi Commodity Exchange of India Limited Member- National Commodity & Derivatives Exchange Ltd
Bang Equity Broking Private Limited Member- Bombay Stock Exchange Limited
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Nadi Finance & Investment Private Limited RBI registered Non Banking Finance Company
Shresth Financial & Insurance Services Pvt Ltd We started in 1986 under the leadership of Late Shri Nirmal Bang and have grown steadily and progressively since then. Our clients as well as Business Partners have contributed tremendously to our growth we recognize and applaud this, we value our relationship with them and for their convenience we have all investing avenues under one roof. It is a consistent profit making company from Last 5 years. Its an extremely well capitalized company with high Net worth
SERVICES of NIRMAL BANG
NIRMAL BANG SERVICES OFFLINE ONLINE OTHER SERVICES
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OFFLINE-
Offline A/c is the A/c for the investors who are not familiar with the use of computer. The A/C opening charges applied(One time)
For 1st Year Demat A/C is Free, On 2nd Year AMC charge is applicable.
ONLINE ACCOUNT-
Requirement for online trading:
Linked Bank Account
Benefits of online trading:
nywhere
-time portfolio tracking

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OTHER SERVICES Dial-n-Trade Mutual Fund Commodit y Derivative Depository Participants Distribution of Financial Services Research Based Advices Portfolio Management S ystem
DnT (Dial- n Trade)
Dial n Trade is the name of the phone -trading facilit y offered by NIRMAL BANG. A call center wholl y dedicated to order placement / confirmation. Easy 2-step process for order placement. Step1. Enter your PHONE ID Step2. Enter your Client Code
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On successful dial, call gets transferred to call center executives. NIRMAL BANG Securities Private Limited, one of the cornerstones of the NIRMAL BANG 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 is 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 completel y is the ultimate goal.
Stock Broking Services
We offer trading on a vast platform; National Stock Exchange, Bombay Stock Exchange, MCX & NCDEX. More importantl y, we make trading safe to the maximum possible extent, by accounting for several risk factors and planning accordingl y. We are assisted in this task by our in -depth research, constant feedback and sound advisory facilities. Our highl y skilled re search team, comprising of technical anal ysts as well as fundamental specialists, secure result-oriented information on market trends, market anal ysis and market predictions. To empower the investor further we have made serious efforts to ensure that our research calls are disseminated systematicall y to all our stock broking clients through various delivery channels like email, chat, SMS, phone calls etc.
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EQUITY AND DERIVATIVES Trading platform for equities and equity derivatives on NSE and BSE- the Company has a reach of over 100 branches at 36 locations in the country to cater to retail and high net worth individuals. The branches constitute of self owned hubs and franchise/ remises / sub broker through whom the business is sourced.
COMMODITIES:Trading platform for commodities on NCDEX and MCX- Commodity trading facility is provided to all the clients at all the centers and location. The company is planning to establish itself as a leading research center for commodities market in the country.
DISTRIBUTION:Distribution of retail finance products Mutual Funds and IPOs. The group is empanelled with all the Fund Houses in the country to sell their Mutual Fund and NFOs using the retail network. IPOs selling is undertaking from all the branches of the company.
FINANCIAL ADVISORY SERVICES:Investment and trading advisory services to its clients are based on technical, fundamental and market research- The Company has one of the best fundamental research and technical analysis teams in the company. We release reports based on fundamental research of industries, sectors, companies and individual stock to our clients.The technical research team gives the clients recommendations using charting tools like Falcon and Metastock.
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Comprehensive reports on volume breakouts, delivery reports and F&O open interest positions are given to all the clients
DEMAT SERVICES:Company offering:Nirmal Bang is a registered member (Depository participant) of CDSL. In this system, physical security holding are converted into electronic (or in other words, dematerialized) holdings. Why NIRAML BANG Demat Account? Demat A/C free open. Demat access through internet and phone. Portfolio valuation on the account statements. Online execution of transactions at branches. Special rates for stock market intermediaries and sub brokers. Transaction update from back-office four times a day.
Transfer of shares and settlements Transfer and settlements have never been easy as it under the depository system. All that is required is an instruction slip from you. If you are selling securities then it has to be a delivery instruction slip. If you are purchasing securities it has to be a receipt instruction slip or standing instruction for credit.
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Receipt of Corporate Benefits Even securities establishment like bonus and right can be credit to your Demat account electronically. All you have to do is choose the right option in the share application from. Crash benefits like dividend and interest will, however be forward to you directly and not through the depository. Holding & Transaction Statements We provide statements of holding cum transaction every month at Zero cost. Dematerialization of shares At you request we arrange to convert your physical holding into electronic from. To do this would require to open an account with CDSL through us called Beneficiary Account in the name and style in which the shares are held and lodge the share certificates with us accompanied by a dematerialized request from, separate for each scrip.You are required to only make sure that CDSL has admitted that scrip for dematerialization. An upto date list will be provided to you which will be constantly updated.
Rematerialization You have the option to convert your electronic shares back to physical shares.
Pledge-Hypothecation You can also avail against your electronic shares. This process is also much faster than in the case of physical shares.
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COMPETITOR MAP OF NIRMAL BANG
Religare
karvy
NIRML BANG SECURITIES PVT. LTD.

Sharekhan dininfoline indiainfoline ltd.
Sharekhan
KARYV
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VISION AND MISSION OF COMPANY:-
VISION STATEMENT:TO CREATE VALUABLE RELATIONSHIP AND PROVIDE THE BEST FINANCIAL SERVICES MOST PROFESSIONALLY
MISSION STATEMENT:TO WORK TOGETHER WITH INTEGRITY & MAKE OUR CUSTOMER FEEL VALUED
CORE VALUE:RESPECT OUR COLLEAGUE AND THE BUSINESS ITSELF
Business Focus:The focus of the business is the CUSTOMER Customer service, Customer education, Customer support, Customer relations and last but not the least Customer acquisition. Trade execution transparency, timely settlements, risk monitoring and superior service shall have topmost priority, in the best interests of all concerned.
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WHY CHOOSE US?

CLIENT FOCUS Client relationship from the core of our business. We value each client, no matter what size, as a long-term relationship. And we seek to provide unmatched services to each client and place him as a partner at the center of everything we do.
From the very beginning of the relationship, we work closely with every client to identify his financial goals and risk tolerance levels and leverage our strength of the product offering, research and financial strength to help achieve his goals. In the process, we become an professional partners, creating opportunity, adding value and transform vision into reality.
Diverse services offering In addition to traditional broking services, we are also equipped to handle commodity trading facility as well as currency derivatives and have access to a wide range of financial services like IPOs, mutual funds and insurance.
Timely services In an increasingly competitive environment, clients today require personalized solution and greater flexibility and responsiveness than ever before. Our professionals are always on call. We provide them services throughout the year and not just at the end of the year. We believe such service is essentials for delivering solution and constructive relationship.
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Able team We have developed a strong and enduring team by recruiting from leading graduate and postgraduate universities and promoting from within. Our team work together to provide superior results to our client. At the same time, each of our clients is assigned a specific team member who owner the relationship, providing continuity, responsiveness and a point of easy access to the firm. Culture We strive to maintain standards at all times and lay emphasis on honesty, integrity and confidentiality. We speak and act to ensure transparency at all levels and in everything we do. Financial strength The strength of our balance sheet is such that it gives greater confidence to all our retail and institutional clients in detail with us. The financial strength of the group helps in future building the network and infrastructure to cater to the larger market.
INFRASTURUCTURE: We believe or best infrastructure gives a significant advantage allowing us to provide efficient, transparent and qualitative services. Our technology supports everything from executive trades and managing our investors of stocks to communicating up-to-the-second information to our clients and monitoring for compliance.
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Client interface: We have trading terminal (both direct and indirect), online monitoring, control terminal (administration terminals) and back office support terminal (settlement terminal) across all location and centers. Our websites www.nirmalbang.com is comprehensive and provides online feeds, net trading and provides online feed, net trading portfolio tracking tool. Investors also have access to a wide range of financial news, information and various research reports facilitating quick decision-making. Our online trading portal at www.nirmalbang.com is equipped with facilities like all segment broadcasts, multi-features graphs, online payment gateways and automatic password mailer utility for better security. It user-friendly navigation allows easy viewing of trading accounts, depository accounts and research reports, which are linked to the trading platform. The website also has a provision for creating portfolios and monitoring them on a regular basis. Our wealth trackers module helps investors in getting ready updates n their investment so that they can know the changing trends of the markets and the impact of the same on their portfolio. Back office: For back office operations, we use the lidha Didha system of Apex Soft cell Pvt. Ltd. This is one of the top most back office software in the industry. It has the capacity to process over one lakh traders in a five minute frame. Our operation teams has an easy-to-navigate client login system, which is used to generate activity reports, short-terms and long-term tax reports, holding and portfolio valuation reports as well as trading to delivery activity reports.
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We also have the requisite infrastructure needed to handles STP, upload and download and download information to or from exchanges, bank and depositories, support units to ensure delivery notes, bills and ledgers of trading accounts and cash management services for efficient and effective fund management within the group.
Internal control: Compliance and internal control play a major role in determining business strategies as well as day-to-day operation of the group. A well-equipped risk management department ensures that the delinquency rates are minimal, while efficient risk management software provides online MTM margin data to branches and franchisees. Our efficient back-up system and software have been developed specially for branches and channel partners with a capacity to handle numerous transactions. Our online position monitoring system ensures better risk management and surveillance from our head office as well as branches and franchises. Our people from them cornerstone of the business and their expertise and motivation delivery of exceptional solution and services to all our clients.
Experienced professional: Our teams of professional consist of individual with significant experience in securities trading, market structure, trading technology and portfolio management. They have a strong experience in trade execution and understanding of order flow dynamics. This combined with technical analysis of market momentum, help our clients to determine the price at which they buy and /or sell.
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We believe, we are the first choice for our clients because we among the very best at trade executive solution and assets management services. At Nirmal bang, each and every professional is focused on turning the initial trade or investment into a collaborative, personto-person relationship that keeps delivering true added value.
Research Expertise: Our research team is headed by two senior research analysts who have more than 15 years of experience in this field. Our team of experienced fundamental research and technical analysts provide reports on industries, sectors, companies and individual stocks. Our research reports are backed by indepth research and analysis of emerging as well as current market trends. Besides, our research analysts also appear on leading business news channel where they share their insights on the market. Nirmal Bang Groups business strives the largest number of common people. Consider these: Equity* / commodity / currency* / mutual fund / IPO / PMS / insurance / DP products.
Management philosophy: Nirmal Bang Groups business ventures are highly successful due to our Management philosophy. Features of this include total empowerment of its employee, decentralized decision-making process and freedom of action. Most of all, the Group views every employee as a potential partner in business. Group Companies has also been instrumental in creating innumerable indirect jobs in the communities they serve.
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OBJECTIVES OF STUDY:The study is to understand the share market and its scope. Now a days in this competitive business world the growth of a company depends very much on the consumer satisfaction. Whice can be achieved by quality service assurance and marketing strategy. The main objective of my study is: To understand the process and basics of Trading in share market To get the Demat account opened of potential customers in favor of nirmal Bang. Analysis of need and satisfaction of consumer To know about the market trends and scope of Indian share market To clearly identify the awareness level about Nirmal Bang
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ONLINE SHARE TRADING IN INDIA:
Now with HDFC, ICICI direct, share khan, Shriram insight and other brokers, Share trading in India has gone online. Starting at about 2 pct, online trading forms about pct in terms of volume (I think the figure is higher than 10 pct in the retail segment) Some of these have gone on to become the biggest brokers in India. It has opened the market to a whole segment of people. Earlier, investing in share was done by a limited few most of who applied in an IPO and stuck with till they wanted money. Now, not only online trading made life easier for these peoples, it has opened up investing and trading to segment that never before participated in it. By my rough estimates during my experiences in India tech trading in India. Until the arrival brokerage in about 2000 or so, was like driving on Indian road. It was a familiar story of might is right, big truck (brokers) ruled the market & there were potholes and pitfalls in the shape of bad deliveries, dishonored contacts, fakes & what not. Unlike the highways which have remained out of the reach of the Aam admi, the share market has changed. Somewhere in the nineties there was a whole move to make share electronics & fungible (like money notes, a share is a share. And move them to the dematerialized (demat) form. Slowly, from the physical world shares move to digital world at the NSDL. Then trading became electronic. First it was a few of the blue chips, then it was most of the blue chips and slowly it has taken over most of the market.
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New issues are today, exclusively electronics. If digitization took care of the back end, it has also made life at the easy at the front end. In the physical delivery work, one had to talk to a broker who told you the quotes. There was no way of knowing if the quote was right. There was no way of knowing if your trade was made, especially if you made a good call (Bad call, almost inevitably got made). The broker could say that this was the best price I got and nobody would be wiser. You would not know if the share came from his account or form the market. You would not know if the shares were true for the small investors. Odd lots (which we inevitably awarded during splits, mergers were as good as stock which would never got sold or the broker would purchase them at a price way below the market price. Industry about 70% of employees are have online active accounts, many of which were opened in the ESOP era seems like a long while back), more than 80% of these investors are actives traders, the number of day traders are less. But a small chuck of these also dabbles in the future and options market. Besides this obvious segment which is connected to the online would all days long from the cubicles, there are other segments which have shown interest in trading due to its case. Housewives retired professional and even small businessman. What was hitherto a male dominate sphere also has quite a fem women into trading. The regional stock exchange which were the way to route trades in the olden days, are now almost defunct with BSE and NSE (NSE more than BSE) holdings way. Earlier investors were mostly from the bigger cities. With online trading, it has opened avenues for investors from the parts of the country with an internet connection.
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A few months ago, Business world (Registration/subscription regd.) India reported that: 46 pct of the trades were done by the top 100 brokers in 1996-97. Todays it is about 66 pct. Going online via these professional driven by technology is a great way to cut the uncertainties caused by the middleman out of the business of share trading and make lives easier for the investors.
There will be more competition in this space as brokers try to take over accounts of other brokers. More specialized and personalized services will be in the offing as the market expands and as smaller brokers try to survive and evolve into niche players.
MANADATORY DOCUMENT:1. PROOF FO IDENTITY (For individual /Karta / Sole proprietor / Authorized person (s) for Partnership, corporate and Trust)
Photocopy of PAN card
1. PROOF OF ADDRESS (For individual / Karta / Sole proprietor / Authorized person (s)
for Partnerships, Corporate and Trust) Photocopy of any one of the following: Passport, Voter ID Card, Driving license, Bank Passbook, Rent Agreement, Ration Card, Current Telephone Bill, Current Electric Bill, Flat Maintenance Bill, and Certificate Issued by employer registered under MAPIN, Insurance Policy.
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2.
BANK AND DP PROOF:
I. Letter from clients banker certifying the account number and the period from which the accounts in operation as per prescribed format. II. Copy of a pas book / bank statement containing name of the client III. Copy of current transaction statement / holding statement / certification by DP containing the name of DP and client
3.
PROOF OF INCOME AND ASSETS:
I. Copy of the salary of the constituent for the last month II. Income tax statement for the last 2 financial years III. Assets liability statement IV. Copy of the values certificate in case of immovable property
4.
FOR MINORS:
In additional to the abovementioned documents, the following documents would also be required for minors. I. Birth certificate of Minor.
5.
ADDITIONAL DOCUMENTS FOR NON-INDIVIUALS:
I.
Copy of the balance sheet for the last 2 financial years (copies of annual balance sheet to be submitted every years)
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II.
Copy of latest share holding pattern including list of all those holding more than 5% in the share capital of the company, duly certified by the company secretary/ whole time Director/MD. (copy of updated shareholding patterns to be submitted every year)
III.
Copies of the memorandum and articles of association in case of a company / body corporate or partnership deed in case of a partnership firm
IV.
Copy of the Resolution of Board of Directors approving participation in equity / derivatives/ debts trading and naming authorized persons for dealing in securities.
V.
Photographs of partners/whole time directors, individual promoters holding 5% or more, either directly or indirectly, in the shareholding of the company and of persons authorized to deal in securities.
VI. VII.
Net worth certified by Chartered accountant. Declaration on letterhead of firm as per prescribed format for sole proprietorship and partnership Firms.
1.
BASIC RISKS INVOLVED IN TRADING ON THE STOCK EXCHANGE (EQUITY AND OTHER INSTRUMENT)
1.1
Of higher volatility:
Volatility refers to the dynamic changes in price that securities undergo when trading activity continues on the Stock Exchanges. Generally, higher the volatility of a security/contract, greater is its price swings. There may be normally greater volatility in thinly traded securities/contracts than in active securities/contracts. As a result
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Of volatility, your order may only be partially executed or not executed at all. Or the price at which your order got executed may be substantially different from the last traded price or changes substantially thereafter, resulting in notional or real losses.
1.2
Risk of lower liquidity:

Liquidity refers to the ability of market participants to buy and or sell securities/ contracts expeditiously at a competitive price and with minimal price difference. Generally, it is assumed that more the number or order available in a market, greater is the liquidity. Liquidity is important because with greater liquidity, it is easier for investors to buy and/or sell securities/ contracts swiftly and with minimal price difference, and as a result, investors are more likely to pay or receive a competitive price for securities/contracts purchased or sold. There may be a risk of lower liquidity in some securities/contracts as compared to active securities/contracts. As a result, your order may only be partially executed, or may be executed with relatively greater price difference or may not be executed at all.
1.2 Buying/Selling without intention of giving and or taking delivery of a securities, as part of
a day trading strategy, may also result into losses, because in such a situation, stock may have to be sold/purchased at a low/high prices, compared to the executed price levels, so as not to have any obligation to delivery/receive a security.
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1.3
Risks of wider spreads:

Spread refers to the difference in best buy prices and the best sell prices. It represents the differential between the prices of buying a securities and immediately selling it or vice versa. Lower liquidity and higher volatility may result in wider than normal spreads for loss liquid or illiquid securities/contracts. This is turn will hamper better price formation.
1.4 Risk-reducing orders:

Most exchanges have a facility for investors to place limit orders, stop loss orders etc. The placing of such orders (e.g., stop loss limit orders) which are intended to limit losses to certain amount may not be effective many a time because rapid movement in market conditions may make it impossible to execute such orders..
1.4.1
A market order will be executed promptly, subject to available of orders on opposite side, without regard to price and that, while the customer may receive a prompt of a market order, the execution may be at available prices of outstanding orders, which satisfy the order quantity, on price time priority. It may be understood that these prices may be significantly different from the last traded prices or the best prices in that security.
1.4.2
A limit order will be executed only at the time limit price specified for the order or a better price. However, while the customer receives prices protection, there is a possibility that the order may not be executed at all.
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1.4.3
A stop loss order is generally placed away from the current price of a stock / contract, and such order gets activated if and when stock/contract reaches, or trades through, the stop price. Sell stop order are entered ordinarily below the current price, and buy stop orders are entered ordinarily above the current price. When the stock reaches the pre-determined price, or trades through such price, the stop loss order convert to a market/limit order and is executed at the limit order. There is no assurance therefore that the limit order will be executable since a stock/contract might penetrate the pre-determined price, in which case, the risk of such order not getting executed arises, just as with a regular limit order.
1.5 Risk of New Announcements:

Issuers make news announcements that may impact the prices of the securities/contracts. These announcements may occur during trading, and when combined with lower liquidity and higher volatility, may suddenly cause an unexpected positive or negative movement in the price of the security/contracts.
1.6 Risk of Rumors:

Rumors about companies at times float in the market through word of mouth, newspapers, websites or news agencies, etc. the investors should be wary of and should desist from acting on rumors.
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1.7 System Risk:

High volume trading will frequently occur at the market opening and before market close. Such high volume may also occur at any point in the day. These may cause delays in order execution or confirmation. a.7.1 During periods of volatility, on account of market participants continuously modifying their order quantity or prices or placing fresh orders, there may be delays in order execution and its confirmation.
a.7.2 Under certain market condition, it may be difficult or impossible to liquidate a position in the market at a reasonable price or at all, when there are no outstanding order either on the buy side or the sell side, or if trading is halted in a security due to any action on account of unusual trading activity or stock hitting circuit or for any other reason.
a.8
system/network congestion:
Trading on NSE/BSE is in electronic mode, based on satellite/leased line based communication, combination of technology and computer system to placed and route orders. Thus, there exist a possibility of communication failure or system problem or slow or delay response from system or trading halt, or nay such other problem/glitch whereby not being able to establish access to the trading system/network. Which may be beyond the control of and may result in delay in processing or not processing buy or sell orders either in part or in full?
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You are cautioned to note that although these problems may be temporary in nature, but when you have outstanding open position or unexecuted orders, these represent a risk because of your obligations to settle all executed transactions. As far as Future and option segment is concerned, please note and get yourself acquainted with the following additional features:-
a.9
Effect of Leverage or Gearing
The amount of margin is small relative to the value of the derivatives contracts so the transactions are leveraged or geared. Derivatives trading, which is conducted with a relatively small amount of margin, provides the possibility of great profit or loss in comparison with the principal investment amount. But transactions in derivatives carry a high degree of risk. You should therefore completely understand the following segments before actually trading in derivatives trading and also trade with caution while taking into account ones circumstances, financial resources, etc. If the price moves against you, you may lose a part of our whole margin equivalent to the principal investment amount in a relatively short period of time. Moreover, the loss may exceed the original margin amount. A. Future trading involves daily settlement of all positions. Every day the open positions are marked to market based on closing level of the index has moved against you, you will be required to deposit the amount of loss (national) resulting from such movement.
B. This margin will have to be paid within a stipulated time frame, generally before commencement of trading next dat.
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C. If you fail to deposit the additional margin by the deadline or if an outstanding debt occurs in your account, the broker/member may liquidate a part of or the whole position or substitute securities. In this case, you will be liable for any losses incurred due to such close-outs.
D. Under certain market condition, an investor may find it difficult or impossible to execute transactions. For example, this situation can occur due to factors such as illiquidity i.e. when there are insufficient bids or offers or suspension of trading due to price limit or circuit breakers etc.
E. In order to maintain market stability, the following steps may be adopted: changes in the margin rate increase in the cash margin rate or others. These new measures may also be applied to the existing open interests. In such conditions, you will be required to put up additional margins or reduce your options.
F. You must ask your broker to provide the full details of the derivatives contracts you plan to trade i.e. the contracts specifications and the associated obligations.
2.0. Risk of Option Holders:

1. An option holder run the risk of losing the entire amount paid for the option in a relatively short period of time. This risk reflects the nature of an option as a wasting asset which becomes worthless when it expires.
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2. An option holder who neither sells his option in the secondary market nor exercises it prior to its expiration will necessary lose his entire investment in the option. If the price of the underlying does not change in the anticipated direction before the option expires to an extent sufficient to cover the cost of the option, the investors may lose all or a significant part of his investment in the option. 3. The exchange may impose exercise restrictions and have absolute authority to restrict the exercise of option at certain times in specified circumstances.
2.1 Risk of Option Writers:

If the price movement of the underlying is not the anticipated direction, the option writers run the risks of losing substantial amount.
INVESTORS RIGHTS AND OBLIGATIONS:

From the trade date upto five trading days. Where trade on the websites, do not tally with the detail mentioned in the contract note, immediately get in touch with the investors grievances cell of NSE/BSE. 2.1.1 Ensure that payment/delivery of securities against is given to the concerned members within one working day prior to the date of pay-in-announced by NSE/BSE or its clearing corporation/clearing House. Payments should be made only by account payee cheque in favors of the firm/company of the trading members and a receipt or acknowledgement towards what such payment is made be obtained from the member.
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Delivery of securities is made to the pool account of the members rather than to the beneficiary account of the members. 2.1.2 In case pay-out of money and /or securities is not received on the next working day after date pay-out announced by NSE/BSE or its clearing corporation/clearing House. Please follow-up with the concerned members for its release. In case pay-put is not released as above from the members within five working days, ensure that you lodge a complaint immediately with the investors Grievance cell of NSE/BSE.
2.1.3 Every member is required to send a complete statement of Accounts, for both funds
and securities settlement to each of its constituents, at such periodicity as may be prescribed by time to time. You should report errors, if any, in the statement immediately, but not later than 30 calendar days of receipt thereof, to the members. In case the error is not rectified or there is a dispute, ensure that you refer such matter to the investors Grievance cell of NSE/BSE, without delaying. 2.1.4 In case of a complaint against a members/registered sub-broker, you should address the complaint to the office as may be specified by NSE/BSE from time to time. 2.1.5 In case where a member surrenders his membership, NSE/BSE gives a public notice inviting claim, if any from investors. In case of a claim, relating to transaction executed on the trading system of NSE/BSE, ensure that you lodge a claim with NSE/BSE/NSCCL clearing House within the stipulated people and with the supporting documents. 2.1.6 In case where a member is expelled from trading membership or declared a defaulter, NSE/BSE gives a public notice inviting claims, if any, from investors. In case of claim,
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relating to transaction executed on the trading system of NSE/BSE, ensure that you lodge a claim with NSE/BSE within the stipulated period and with the supporting documents. 2.1.7 Claims against a defaulter/expelled member found to be valid as prescribed in the relevant Rules/Bye-laws and the scheme under the Investors Protection Fund (IPF) may be payable first out of the amount vested in committee for settlement of claims against Defaulters, on pro-rata basis if the amount is inadequate. The balance amount of claims, if any, to a maximum amount of Rs.10 lakh per investors claim, per defaulter/expelled members may be payable subject to such claims being found payable under the scheme of the IPF.
3. GENERAL: 3.1 Commission and Other Charges

Before you begin to trade, you should obtain a clear explanation of all commission, fees and other charges for which you will be liable. These charges will affect your net profit (if any) or increase your loss.
3.2 Deposited Cash and Property

You should familiarize yourself with the protections accorded to the money or other property you deposit particularly in the event of a firm insolvency or bankruptcy. The extent to which you may recover your money or property may be governed by specific legislation or local rules. In some jurisdiction, property which has been specifically
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identifiable as your as your own will be pro-rated in the same manner as cash for purpose of distribution in the event of a shortfall. In case of nay dispute with the member, the same shall be subject to arbitration as per the byelaws/regulation of the exchange.
3.3
For right and obligation of the clients, please refer to Annexure-1 enclosed with this document.
3.4
The terms constituent shall mean and include a client, a customer or an investor, who deals with a members for the purpose of acquiring and/or selling of securities through the mechanism provided by NSE/BSE.
3.5
The terms members shall mean and include a trading members, a broken or a stock broker, who has been admitted as such by NSE/BSE and who holds a registration certificates as a stock broker from SEBI.
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Capital Market Segment:
1. Order Entry & Execution:
The order placed by the clients over the phone or orally from the office would be entered into the trading system and after due surveillance would be transmitted to concerned Exchange instantaneously within a few seconds. But some orders at the discretion of Shriram Insight Share Brokers Ltd. (SISBL) may be subject to manual review and clearances which may cause delay in processing the order or rejection of the order. The client agrees that placing an order, including a market order does not guarantee execution of the order. It is understood by the client that with respect to market order, the order will be executed at a price which may be different from the price at which the securities is traded when their order was entered into system. The client are required to take confirmation of their order immediately or at least once a day either in person or over telephone which would be deemed to have the same effect as given in person. The order placed by the clients would be their own investment decisions and the clients will not hold SISBL or any of its employees or associates, liable for any losses incurred by them. This extends to any decisions made by the client on the basis of any information that may be made available on the website of SISBL. However SISBL shall not be liable for failure of the system or for any loss, Damage or other costs arising in way out of:
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a)
Telecom network or system failures including failure of ancillary or associated system which forms or does not form or does not form part of trading workstation installation, or fluctuation of power, or other environmental conditions: or
b) c)
Act of god, fir, flood, war, act of violence, or any other similar occurrence: o Any incidental, special or consequential damages including without limitation of loss or profit.
1A. Cancellation or Modification of Orders:

The execution or order cancellation or modification is not guaranteed. Cancellation of orders is possible only if the original remains pending at the exchanges. Unless otherwise specified by SISBL, any order not executed at the end of the day shall stand cancelled.
2. Sufficient Margin Maintenance for Placing Orders:

The clients have to maintain sufficient margin before placing the order. The requirement of margin will be intimated by SISBL from time to time depending on the market condition, rules framed by the concerned Exchanges or SEBI, and assessment of the client by SISBL. This information would be communicated to the client orally or over the phone or in writing and decision of SISBL would be final in his regard. The margin would vary from 0% to 100% of the open position of the client. Open position would mean all pending orders and transaction, both purchase and sale, of the client which are either unpaid or undelivered, respectively. However, the client would be responsible for all of their orders including any order which exceeds the limit available based on their available margin.
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The client should on a regular basis enquire about the margin requirement to ensure smooth transaction. SISBL may require the client to immediately deposit funds or collateral into their account prior to any applicable settlement date in order to assure due performance of their open contractual commitments. If the clients does not provide the additional collateral, the client hereby understands and knowledge that SISBL has the right to sell any or all the securities and other properties available with it and can cancel any or all open orders and/or closes any or all outstanding to raise the required margin.
The client will be liable to bear any loss arising out of the same. Clients have to pay margin for the open position they may have at any point of time in the following manners: a. Margin in the form of money deposit (Cash Margin)
b. Margin in the form of specified securities to be calculated at a specified percentage of value of the securities depending on the scrip as specified by SISBL from time to time. All deliveries against margin are to be made by transferring the share from the declared DP account of the client to the designated beneficiary account of SISBL: For NSE cash segment-1203840000009946 For NSE F&O segment-1203840000132265 c. Margin in the form of FD (as specified by SISB)
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3. Payment from client against purchase of securities:

Payment for purchase of securities has to be made by account payee cheque only from the declared bank a/c of the client only favoring Shriram Insight Share Brokers Ltd By T+ 1st day but not later than the due date for playing of funds to the concerned exchanges and not to nay employee or purported representatives of SISBL. The client shall not make any payments of SISBL through any third party account or an account of any other client SISBL. It is understood by the client that date on which clear funds are available in the bank account of SISBL would be treated as the date of having received the payment although a receipt may be issued at an earlier date for the cheque given by the client. Therefore, the clients are required to give the cheque sufficiently in advance so that the amount is credited in SISBL account before the due date. SISBL would present the cheques in normal clearing and would not be responsible for any delay due to clearing in the banking system. The client further undertakes that in case he fails to make payment of consideration to SISBL in respect of any one or more securities purchased by him before the pay in date notified by the exchange from time to time.
SISBL can sell the securities at any time on the exchanges not later than the fifth trading day reckoned from the date of pay-in. Otherwise SISBL shall have the power to pledge the shares with scheduled Banks and/or non banking finance companies to realize the money and meet the Pay-in obligations to the concerned exchanges.
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4. Delivery to client of securities Purchased By Them:

Securities purchased by the client will be delivered to the DP account of the client (as specified in the registration from the by the client) by SISBL only if all the money, on any account, due from the client till date of delivery is realized in full. Part delivery of securities based on part payment will not be allowed. Any error in giving the details regarding default DP account will be clients responsibility and he will not hold SISBL responsible for any loss due to transfer of shares into the account as mentioned above. The instruction for delivery to client account will be issued within time schedule specified by the concerned Exchanges, prevalent at the time. If the delivery could not be made on the due date, due to nonpayment of dues from the client then the delivery will be made within seven days of payment of the dues. But, nonpayment for dues date may result in sale of such purchased securities at the cost and penalty of the client. In case the securities are unpaid on the pay-out date, same will be taken/transferred into the designated beneficiary account of SISBL to avoid SEBI pool penalty charges.
5. Delivery from Clients of securities Sold By Them:
A. Dematerialized shares:
The client should instruct his depository participants, sufficiently in advance, to transfer shares into the pool account of SISBL preferably on the same day.
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i.e. trading day itself or latest before 9 am. On the respective settlement day as specified by the exchange and shall not cause delivery of shares of SISBL through any third party account or an account of any client of SISBL. All third parties against pay-in obligations have to be honored by transferring the shares from the declared DP account of the client to pool account of SISBL. For NSE cash segment-for NSE pay in NSDL POOL-CMBP-IN 563399 (28836274/IN 301250) CDSL A/C -1203840000000067 For BSE cash segment principal A/C-1203840000000033
B. Redelivery from purchase of earlier settlement:

If a client has purchased some securities in an settlement and has not taken delivery of the same/the securities have remained undelivered to him/her and if he/she sells the same in the current settlement then the shares purchased in earlier settlements, the receipt of the same may be used to meet pay-in obligation for current settlement. The clients are cautioned that execution of a purchase order does not guarantee delivery of share which may fail in case of short delivery from the concerned Exchanges or the selling party. In all such cases clients are required to take a clear confirmation from SISBL about the delivery status of earlier purchases before proceeding with the sale of securities. SISBL will not be responsible for any losses if a short delivery takes places due to such short receipt in the earlier settlement.
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C.
Auction of securities:
If the client fails to make delivery of deliverable shares as per the pay-in schedule of Exchanges then the securities will be auctioned as per the rules of the concerned exchanges or as per Inter Auction rules mentioned in point 8, wherever is applicable. Consequently client will be responsible for any resulting losses and all associated costs including penalty as specified in point 10 a.
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RESEARCH METHODOLOGY
Title of the study:To determine the SCOPE AND CURRENT SCENARIO OF ON LINE TRADING IN EQUITY MARKET
title justification:
The above title is self-explanatory. This study mainly deals with current scenario of online trading in India since its inception in the year 2000 and scope of it. The trading volumes of stock exchange has increased since then and the services offered by the online stock traders has facilitated the Indian Customer. The level of Indian stock trading through online has been increasing and provides a vast scope for the future.
scope of the study
Since the year 2000 a big boom has been witnessed in the Indian Stock Market when the market showed the coming up of Online Trading System. Many online stock trading companies came but initially due to lack of online trading some companies vanished and some survived. The companies which survived are getting the handsome returns also attracting the foreign Investment Companies. Nowadays this sector is facing cut-throat competition and also provides huge growth prospects. The study then goes to evaluate and analyze the findings so as to present a clear picture of the trends in the online trading sector.
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significance of the study
The 50 people have been interviewed through various sources and their responses have been analyzed. This data can be explored to take in the trends all Indian Online Stock Trading Industry. The significance for the Industry lies in studying the growth trends that emerge from the study. It is one of the fastest growing and evolving sectors
Research Approaches:DATA COLLECTION:PRIMARY DATA:- Primary data are collected through survey method. Survey ---- survey is the best suitable method for descriptive research. Surveys are mainly done to know about peoples opinion, beliefs, preferences etc. I have done a survey to know the awareness , perception & preference of people for that purpose I interviewed large number of investors and non investors in equity market. SECONDARY DATA:- Secondary data are collected through interne, books and papers
RESEARCH INSTRUMENT:Questionnaire is used as a research instrument. QUESTIONNAIRE:- The questionnaire is the most common instrument to collect primary data. It consists of a set of questions. There are mainly two types of questionnaires open-end and closed-end. In my survey I used closed-end questionnaire. SAMPLE PLAN:- After deciding on the research approaches and instruments, I design a sampling plan.
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SAMPLING UNIT:- It means - who is to be surveyed? my survey I collect data from individual traders as well as non traders in different part of Lucknow SAMPLE SIZE:- It means how many people should be surveyed? In my survey a total sample size of 100 people is covered to collect primary data. SAMPLE PROCEDURE:It defines how should the respondents be chosen? AREA COVERAGE -different part of Lucknow as Alambagh and Golmarket SAMPLING TECHNIQUE:For any kind of research work, a proper sampling method is required. Sampling means understanding the needs and the demands in different market segments. By the help of proper techniques a sampling can be done. As we choose a sample consisting of people from different occupation e.g. service, business etc. a stratified sampling technique is adopted. Stratified Sampling also has some following advantages: Easy research process. Increase of Accuracy. Error Free Research. Easy analysis of survey
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FINDINGS, ANALYSIS,INTERPRETATION, AND RECOMMENDATION

Analysis and its interpretation
The data collected from the customers were systematically applied and they are presented as tables under various headings in the following pages. They are also arranged in such a way that a detailed analysis can be made so as to present suitable interpretations for the same.
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Table 1-Age group TABLE SHOWING THE AGE GROUP OF THE RESPONDENTS. Age group No. of Below 30 years 60 30 50 years 32 Above 50 years 8
respondents Percentage (%) 60 32 8
Interpretation the above table indicates that out of the total number of respondents, 60% were below 30 years of age,32% of the respondents were between 30 years and 50 years and 22% of the respondents were above 50 years of age. It shows that majority of the respondents were below 30 years.
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Table 2 TABLE SHOWING THE GENDER RATIO OF THE RESPONDENTS Gender of respondent No. of respondent Percentage respondent of male 90 90% Female 10 10%
interpretation---the above table indicates that out of total no. of respondents.90% of the respondents were male and 10% were female.
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Table 3 EDUCATIONAL QUALIFICATION QUALIFICATION School level Graduate Post graduate No. respondents percentage 10 70 12 8 of 10 70 12 8 diploma
Interpretation the above table shows that out of total respondents 10% have school level qualification, 70% have graduate level qualification, 12% have post graduate level qualification and 8% have qualification of diploma level.
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Table 4 Income-Income month No. of per Below 10,000 4 10,00020,000 68 20,00030,000 24 Above 30,000 4
respondents Percentage (%) 4 68 24 4
Interpretation--the above table shows that out of total respondents , the income level of 4% were below 10,000 per month , the income level of 68% were between 10,000 to 20,000 per month , the income level of 24% were between 20,000 to 30,000 and the income level of 4% were above 30,000 per month. The income level of majority of respondents was between 10,000 to 20,000.
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Table 5 Inducing factor Inducing factor Friends Online advertisement No. respondents Percentage (%) 58 12 30 of 58 12 30 Financial consultant
Interpretation --The above table indicates that out of the total respondents, 58% of the respondents were induced by Friends into On-line share trading, 12% of the respondents were induced by On-line advertisements and 30% of the respondents were induced by Financial Consultants.
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Table 6 MARITAL STATUS MARITAL STATUS NO.OF RESPONDENTS PERCENTAGE(%) MARRIED 76 76 UNMARRIED 24 24
Interpretation the above table shows that out of total respondents, 76% were married and 24% were unmarried.
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Table 7 Were you doing trading before choosing on-line share trading? yes No. of respondent Percentage 78 78 No 22 22
Interpretation the above table shows that out of total respondent 78% were trading before choosing online trading while 22% were new to the market.
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Table 8 Access of internet Access internet No. respondents Percentage (%) 32 56 12 of 32 56 12 of Home Broker office Browsing house
InterpretationThe above table shows that out of total respondents, 32% access the internet at home, 56% access at their broker office and 12% access at browsing house (cyber cafe).
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Table 9 On-line trading periodicity-Mode of trading No. of respondent Percentage(%) Daily 30 30 Weekly 14 14 Monthly 8 8 irregular 48 48
Interpretation--The above table indicates that out of the total respondents, 14% of there respondents were doing On-line Share trading on a daily basis, 30% of there respondents were doing On-line Share trading on a Weekly basis, 8% of there respondents were doing On-line Share trading on a monthly basis and 48% of there respondents were doing On-line Share trading on an irregular basis.
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Table 10 Share broking company-Name of company Nirmal bang Religare Share khan Karvy Others No. of respondents 12 10 16 20 42 Percentage(%) 12 10 16 20 42
Interpretation --The above table indicates that out of the total respondents, 12% of the respondents choose Nirmal Bang as their broker to do On-line Share trading, 20%of the respondents chose Karvy as their broker to do On-line Share trading, 16%of the respondents chose Sharekhan as their broker to do On-line Share trading, 10% of the respondents choose religare as their broker to do online share trading and 42% choose others.
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Table 11 Whether a professional trader Whether trader No. of respondents 2 98 a Professional yes No
Percentage (%)
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InterpretationThe above table indicates that out of total respondents,98% are not a professional and 2 % are professional.
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Table 12 Broker guideline and support Broker support No.of respondent Percentage (%) 64 64 36 36 guideline and satisfied unsatisfied
Interpretation--The above table indicates that out of total respondents, 64% of respondent were satisfied with service provided by their broker and 36% were unsatisfied.
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Table 13 Grade of bank associated activities of the site. Grade of banking No. of respondent Percentage (%) Very good 24 24 good 64 64 Poor 12 12 Very poor 0 0
Interpretation--The above table indicates that out of total respondents, 24% rated the bank related activities of the site or broker as very good, 64% rated as good and 12% rated as poor.
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Table 14 Transparency in on-line share trading Transparency in on-line share trading No. of respondent Percentage (%) 76 76 24 24 yes No
Interpretation--The above table indicates that out of total respondents, 76% said that there is transparency in on line trading while 24% refused it.
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Table 15 Is on-line trading simple?
On-line trading simple No of respondent Percentage (%)
yes 64 64
No 36 36
Interpretation--The above table indicates that out of total respondents, 64% said that on line trading is simple while 36% refused it.
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Table 16 The trading volume will increase in near future ?

Trading increase No. of respondent Percentage (%) 44 44 16 16 40 40 volume will Yes No Cant say
Interpretation : the above table indicates that only 44% respondent believe that trading will be increase in future while 16% refuse it and other 40% can't say anything.
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Findings
During my project analysis I was very keen to find some key areas which need to be taken care seriously in the future because these are causing dissatisfaction among distributors. Most of consumer felt dissatisfaction with there brokers but some of the disappointments are: Awareness: The level of awareness among the investors about Nirmal Bang is low.
More exposure: Most of distributors want some more exposure for them clients from their share broking companies. Nirmal Bang is now providing super exposure p to 15 of the margin (cash segment) the step like this really creates satisfaction for the distributors
Source of information: The most popular source of information about the market among the investors are friends, newspaper followed by internet
Literacy: Most of the people are educated and male traders
Fewer offers: companies lag behind in giving time to time offers in order to attract new customers.
Traders Perception: Most of the people are satisfied and believe that scope of online trading is bright and they prefer online trading then offline.
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SWOT ANALISIS
Strengths: Company having young management team which consists of very talented and knowledge professionals from different fields. Nirmal Bang is a well capitalized group with net worth of 3500 crores. Company is unaffected in this global recession which shows companys never say die sprits. It means company is armed with proper resources to fight any adverse situation. Companys research team provides tremendous research calls to their clients with high success record and generates level of satisfaction to clients.
Weakness: Investors are not completely aware of Nirmal Bang, so the brand value of the company not yet created.
The market share of the company in commodity and equity market in terms of turnover is not significant.
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Opportunities: The growth of capital market is very high. Investors are now ready to invest their money in this market because the return is much higher compare to other place for investment, so they are ready to bear risk factor associated with it. It means volume will increase year by year in this sector.
As Nirmal Bang having its presence in 36 location of the country, so company has good opportunities to extents its branches all over the country.
Company has not come yet with its own IPO, this is a good chance for the company to be a public limited company which will help company to get money and create brand awareness in this market.
Threats: Company has to face a tough competition from major market leaders, so it will be a difficult task for Nirmal Bang to sustain itself in this cut throat competitions.
Recently financial market is not performing well due to global recession and investors have suffered a huge loss, so investors now investing their money at much safer place instead of this market.
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PROBLEMS AND LIMITATIONS

Problems: The time constraint was one of the major problems.
I have gathered information and data from the secondary source like internet. These data may be true or not
The study is limited to selected area and scheme of company
The lack of information sources for the analysis part
People do not have sufficient knowledge to distinguish between advantages and disadvantages of trading
For primary data, I filled questionnaire from 100 people to give proper information about it. Now based on the opinion of such a small sample size it is very difficult to suggest anything for greater and diversified area.
Sometimes people never read the questionnaire seriously, they just filled it quickly and run away. In such way it is almost impossible to get the real opinion of people
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Limitations:-
The various limitations of the study are:
There is lack of awareness among people about investing in stock market. So the people who are aware of such things were found in specific areas for survey purposes.
Most people are comfortable with traditional system in small towns and like to trade from their respective brokers, hence not providing a true opinion of theirs.
Most of the people they are not techno savvy. Though Internet penetration is growing still it is not at the required level.
Some of the respondents who did not do online trading were able to respond to only some questions
The survey was done in the Gomtinagar and Aliganj region and may not truly express the opinion of whole country.
In online terminal, investor cant get customized expert advice, whereas in offline the brokergives suggestions according to investors strategy (i.e. short term or long-terms
Privacy is less due to hacking scandals Transactional errors due to technical problems
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Recommendation for the concerned company

Mass reach- The new and different offers should be communicated to the large value of potential inventors so that the offers can hit the target.
Full information- The companies should reveal all the information regarding any scheme so that investors can feel free to invest.
All risks should be communicated by distributors of financial services- It is very important for distributors to make the customers aware about all the risks involved and he could not blame for any loss to the company.
Misconceptions- There are many misconceptions in the mind of common people that Mutual funds, online share trading etc. are only for big ones & they cant enter in this field and if they will enter they will suffer losses so, by giving example of active investors various misconceptions should be removed.
Simple procedure-many potential investors are computer illiterate so they never try their hand free.
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Target rural areas also- many potential investors are also trust in rural areas. They come to cities (like in Lucknow) for various works. There should some special offers to attract them in share trading.
Employees should be trained- It is very necessary for the employees to give an effective demo to the client about the use of various services of share broking etc. many times they fail to make the offer understandable to the client, this is the drawback to be overcome.
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CONCLUSION
The two months summer internship project has been a learning experience for me. This is my first job experience in any financial institution and experience at Nirmal Bang will always serve me as a guiding map for the rest of my career.
In this two months training I have learnt that stock market (equity market) plays a vital role in the economic development of a nation. The equity markets are set for an exceptional growth in the future with the adoption of technology and thereby bringing in transparency, ensuring quality standards. Government institutions and market participants have to work towards increasing the awareness regarding stock market futures among the general inhabitants, So after almost two years that stock market is finding favors with Indian investors and is been seen as a separate asset class with good growth opportunities. Sometimes stock market are being effected by market volatility but those problems are being solves out with the high quality of technology and proper information about Indian stock market. In conclusion, the two months summer internship project has been learning experience for me. My experience at Nirmal Bang will always serve me as a guiding map for the rest of my career. In my two months SIP I was able to apply my little marketing knowledge, experience and skill. I also understood the importance of expansion strategy of a company to develop its business. This strategy also varies according to location of the institution and need and expectation of people. My SIP at Nirmal Bang is a perfect blend of corporate and market exposure coupled with hands on experience will serve as an important ingredient in my recipe of success in all future endeavors.
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APPENDIX
QUESTIONNAIRE
Myself Akanksha Sharma student of M.B.A studying at Northern India Engineering College. I had prepared this questionnaire for project work meant for educational purpose only. On SCOPE AND CURRENT SCENARIO OF ON LINE TRADING IN EQUITY MARKET No personal information will be disclosed in any form at anywhere 1) Respondent Name address Mobile no. Date of interview landmark
1) ARE YOU INVESTING IN DERIVATIVE MARKET? I. II. III. 2) Age: i) below 30[ ] ii) 30 50 [ ] iii) above 50 [ ]
YES (if yes cont. otherwise close) NO
3) Gender: i) Male [ ] ii) Female [ ]
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4) Educational Qualification i) ii) iii) iv) v) School level [ ] Diploma [ ] Under Graduate [ ] Post Graduate [ ] others please specify
_____________ 5) Income: i) ii) iii) iv) below 10,000 [ ] 10,000 20,000 per month [ ] 20,000 30,000 per month [ ] above 30,000 per month [ ]
6)
Marital Status Married [ ] ii) Unmarried [ ]
7) i)
What % of income you invest in equity market? less than 5% ii) 5-10% iii) 10-20% iv) more than 20 %
8) What induced you to begin on-line share trading? i) ii) Reference by friends [ ] On-line advertisements[ ]
iii) Advice by financial consultants [ ]
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9) Were you doing share trading before choosing online? i) Yes[ ] ii) No [ ]
10) Where do you access the internet? i) Home [ ] ii) Stock broker office [ ] iii) Browsing center (cyber cafe)[ ]
11)How often do you do on-line share trading? i) ii) iii) iv) Daily basis [ ] Weekly basis [ ] Monthly basis[ ] Irregular[ ]
12) Are you a professional trader? i) Yes [ ] ii) No [ ]
13)Which site do you use for trading? i) ii) Nirmal Bang[ ] karvy[ ]
i i i ) Sharekhan[ ] iv) v) vi) Religare[ ] ICICIDIRECT.COM[ ] if others, please state________________

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14)Does the site guide you on on-line trading? i) Yes [ ] ii) No [ ]
15) Is the information provided by your on-line stock broker sufficient? i) Yes [ ] ii) No [ ]
16) Does your broker site provide you with up-to-date news about IPOs. (Initial Public Offer)- ? i) Yes [ ] ii) No [ ]
17) i)
How would you grade the bank associated activities of the site? Very Good [ ] ii) Good [ ] iii) Average [ ] iv) Not satisfactory [ ]
18) i)
Do you feel that there is more transparency in on-lineshare trading? Yes [ ] ii) No [ ]
19) i)
Is the commission charged by the trading site reasonable? Yes [ ] ii) No [ ]
20) i)
Are you aware of T +2 method of trading? Yes [ ] ii) No [ ]

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21)Is on-line trading simple? i) Yes [ ] ii) No [ ]
22)Do you feel that the trading volume will increase in near future? i) Yes [ ] ii) No [ ] iii) cant say[ ]
23)-Does these affect you? i) ii) iii) Money getting blocked [ ] Delay in receiving share certificates [ ] No troubles [ ]
24)What are your suggestions to develop share trading in Lucknow?
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BIBLIOGRAPHY
For the preparation of project and other required concepts following websites are consulted for the information www.5paisa.com www.derivativeindia.com www.nirmalbang.com www.bseindia.com www.nseindia.com www.mcx.com www.ncdex.com www.moneycontrol.com www.rediffmoney.com www.tradingstock.com www.stockmarkets.com Following books, magazine and newspapers are also consulted1) Business World 2) Business Economy 3) The Economic Times 4) Business standard
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SUMMER TRAINING PROJECT REPORT

Scope & Current Scenario of Online Trading in Equity Market For

Nirmal Bang Securities Pvt. Ltd.

SESSION 2011-2012 DEPARTMENT OF MANAGEMENT

COMPANY PROFILE-SPECIFIC INFORMATION OF ORGANISATION

PROBLEMS AND LIMITATIONS

FINDINGS ANALYSIS AND INTERPRITATION

SUGGESITION AND RECOMMENDATION

STOCK MARKET BASIC

Importance Of Stock Market:

Function and purpose

The Stock Market, Individual Investors, and Financial Risk:

The behavior of the stock market:

ABOUT NIRMAL BANG

NIRMAL BANG consultant

NIRMAL BANG --- Early Days

Mr. Dilip M. Bang

Mr. Kishore M. Bang

Mr. Deepak Agarwal

Mr. Deepak Patel

Mr. Sunil Jain

Miss. Monika Bafna

SERVICES of NIRMAL BANG

NIRMAL BANG SERVICES OFFLINE ONLINE OTHER SERVICES

Requirement for online trading:

Linked Bank Account

Benefits of online trading:

-time portfolio tracking

DnT (Dial- n Trade)

empowering the investor completel y is the ultimate goal.

Stock Broking Services

COMPETITOR MAP OF NIRMAL BANG

NIRML BANG SECURITIES PVT. LTD.

VISION AND MISSION OF COMPANY:-

CORE VALUE:RESPECT OUR COLLEAGUE AND THE BUSINESS ITSELF

WHY CHOOSE US?

ONLINE SHARE TRADING IN INDIA:

Photocopy of PAN card

BANK AND DP PROOF:

PROOF OF INCOME AND ASSETS:

ADDITIONAL DOCUMENTS FOR NON-INDIVIUALS:

Risk of lower liquidity:

Risks of wider spreads:

1.4 Risk-reducing orders:

1.5 Risk of New Announcements:

1.6 Risk of Rumors:

1.7 System Risk:

Effect of Leverage or Gearing

2.0. Risk of Option Holders:

2.1 Risk of Option Writers:

INVESTORS RIGHTS AND OBLIGATIONS:

3. GENERAL: 3.1 Commission and Other Charges

3.2 Deposited Cash and Property

Capital Market Segment:

1. Order Entry & Execution:

1A. Cancellation or Modification of Orders:

2. Sufficient Margin Maintenance for Placing Orders:

3. Payment from client against purchase of securities:

4. Delivery to client of securities Purchased By Them:

5. Delivery from Clients of securities Sold By Them:

B. Redelivery from purchase of earlier settlement:

scope of the study