SUMMERI

NTERNSHI
PREPORT
ON
COMPARATI
VEANALYSISOFVARI
OUSSTOCKBROKINGFI
RMS
AND
ANALYSI
SOFINVESTORBEHAVI
OURTOWARDSONLINETRADI
NG
AT
TRUSTLI
NEBROKI
NGLTD

SUBMI
TTEDI
NPARTI
ALFULFI
LLMENTOFTHEREQUI
REMENTS
FORTHEAWARDOFTHEDEGREEOF

MASTEROFBUSI
NESSADMI
NISTRATI
ON
(
2016-
18)

SUBMITTEDBY.
..
..
..
xyz
ROLLNO16MBAA22
ENNOGG0752

UNDERTHESUPERVI
SIONOF
DEVENDRAGARG

DEPARTMENTOFBUSI
NESSADMI NI
STRATI
ON
ALI
GARHMUSLI
M UNIVERSI
TY
ALI
GARH-202002

2017

1|
Page
DECLARATI
ON

I,MdHasnatAl am,herebydeclarethatIhav ecarr

iedoutsummer
i
nternshipinTrustli
neSecuri
ti
esLtd.onthet opic‘Astudyofstockmar ket
andcompar at
iveanaly
sisofvar
iousstockbrokingfirms’
.Thisproj
ecti
smy
ori
ginalwor kcarr
iedundert
hesupervisi
onofMr .Devendr
aGar gandIhav e
compl eted 8 weeks of my at tendance wi t
ht he superv
isor at the
organizati
on.

Ifurtherdeclar
ethat,tot hebestofmyknowl edgeandbel i
eft hi
s
reportdoesnotcont ai
nanypar tofanywor k,whichhasbeenal ready
submitt
edf ortheawardofanydegr eeeitherinthi
suni versi
tyorinany
otherUniversi
ty/DeemedUniversit
ywithoutproperci
tati
on.Theassistance
recei
ved from v ari
ous sources dur
ing the course ofst udy has been
acknowledgedbywayofr ef
erence.

Md.HasnatAl
am

2|
Page
CERTI
FICATE

3|
Page
 ACKNOWLEDGEMENT

Thest
udyi
sont
hest
ockmar
ket
,whi
l
emynamei
sont
hecov
erpage
oft
hisst
udy
,li
ter
all
ymanyoft
hepeopl
ehav
econt
ri
but
edt
othi
sresear
ch
r
epor
t.Ev
erywor
krequi
rescommi
tment
,butt
hiscommi
tmentgoesi
nvei
n
whent
her
eisnogui
dance.

Iwoul
dfi
rstl
i
ke t
othank my super
visor
,Mr
.Dev
andr
a Gar
g
(
Assi
stantVi
cePr
esi
dent
)foral
lofhi
ssuppor
t,assi
stance,andhar
dwor
k
onmybehal
fov
ert
hecour
seofmyst
udy
.

My Company
,Tr
ust
li
ne Secur
it
ies Pv
tLt
d.,has shown gr
eat
under
standi
ng&f
lexi
bil
i
tyov
ert
hecour
seofper
iod,t
oaccommodat
ethe
r
equi
rement
sofmyacademi
cwor
k.

Myf
ami
l
ydeser
ves speci
alt
hanks f
orhav
ing seen me t
hrough
ev
ery
thi
ng—t
hei
rlov
eandsuppor
thasbeenunwav
eri
ng.It
hinkIcannow
t
hankt
hem f
oral
loft
headv
icegi
venov
ert
hepastf
ew y
ear
soft
hesor
t
t
hatonl
yfami
l
ycangetawaywi
th.

Abov
eal
lIt
hankGodAl
might
yforgi
vi
ngmet
hest
rengt
htowor
kand
successf
ull
ycompl
etet
hisi
nter
nshi
ppr
oject
.

4|
Page
 EXECUTI
VESUMMARY

I
ndianSt ockMar kethasunder gonet r
emendouschangesov erthe
years.Inv estmenti nStockMar kethasbecomeamaj oralt
ernat
iveamong
I
nv estors.Rol eoff i
nancialsystem istoenthusiasteconomicdev el
opment.
Asi nvest orsar egetti
ngmor eeducat ed,awar eandpr udenttheylookfor
i
nnov ativei nvestmenti nstrument s so thatt hey are ablet or educe
i
nvest mentr i
sk,minimizet r
ansact i
oncost s,andmaxi mizer et
urnsalong
withcer tainl evelofconvenienceasar esulttheref
orehasbeenasadv ent
ofnumer ous i nnovat
ivef i
nanciali nst
rumentsuch as bonds,company
deposi t
s,i nsurance,andmut ualfunds.Allofwhichcoul dbemat chedwith
i
ndi vi
dual ’
si nvestmentneeds..

Thecommencementofonl inet radingandDemathast ransf or

med
thecapi t
almar ketinIndia.Witht hehel pofDemataccountbuy ingand
selli
ngofshar eshasbecomef astert hantradingwi t
htheassi stanceof
phy sicalbroker.Thispr
ojectiscompl etel
yfocusedonav er
yf astgr owing
and l ucrati
vei nvest
mentav enuest hati sin onli
neshar etrading.Thi s
resear chwor kisdescript
iveinnat ureandi smost lybasedonSecondar y
probe.Ther eporthasbeendi vi
dedi ntoNNNchapt ers.Thefi
rstchapt eris
dedi cated to Company ’
s profi
l
ef rom wher e Ihav e done mySummer
Internship.

Thesecondchapterisont hecomprehensivestudyoft hestock

market.Thety
pesofthest
ockmar kett
hevar
iousstockexchangesinI
ndia.
Demataccountopeningprocess,thedemater
ali
zati
onofsecur i
ti
es,and
benef
itsofonl
inet
radi
ng

Thi
rdchapterofthereportdescr
ibest
hevari
ousobj ecti
vesoft he
proj
ectworkandresear
chmet hodol
ogyusedtof
ulf
il
lthoseobjecti
ves,
and
thefourt
handthefif
thchapt
ersareonthedat
aanalysi
s,int
erpr
etati
onand
fi
ndi
ngsofthestudy.

Anef
for
thasbeenmadetowor kont
heconceptsthathavebeen
taughti
ncl
assal
ongwit
hot
herusef
ulpar
amet
erssothatbet
terst
udycan
bedone.

5|
Page
CONTENTS
S.No. Ti
tl
e PageNo.
1 Decl
arat
ion 2
2 Cer
ti
fi
cat
e 3
3 Acknowl
edgement 4
4 Ex
ecut
iveSummar
y 5
Chapt
er1-
COMPANYPROFI
LE
7-
15
1.
1Br
iefOv
erv
iewofTr
ust
li
ne
8
1.
2Tr
ust
li
neOf
fer
ings
10
5 1.
3Cor
por
ateEt
hos
11
1.
4KeyPeopl
e
12
1.
5Maj
orCompet
it
ors
15

STUDYOFTHESUBJECT 16-
40
2.
1Meaningandi
mpor
tanceofSt
ock 17
Market
20
2.
2Li
stofSt
ockExchangesi
nIndi
a
21
6
2.
3BSEandNSE
27
2.
4St
ockMar
ketRegul
atorSEBI
31
2.
5Demataccount
36
2.
6Deposi
tor
yPar
ti
ci
pant
39
6|
Page
 2.
7Onl
i
neTr
adi
ng

Chapt
er3–RESEARCHOBJECTI
VES 41-
42
ANDMETHODOLOGY
3.
1Ti
tl
eoft
hepr
oject 42
7 3.
2Resear
chObj
ect
ives 42
3.
3Scopeoft
heSt
udy 42
3.
4Resear
chDesi
gn 43
3.
5Li
mit
ati
ons 43
Chapt
er4–COMPARATI
VEDATA
8 ANALYSI
S 43-
83

9 FI
NDI
NGSANDRECOMMENDATI
ONS 85-
88
10 BI
BLI
OGRAPHY 89
11 ANNEXURE 90-
94

7|
Page
 Chapt
er-
1

COMPANY
PROFI
LE

8|
Page
1.
1ABOUTTHECOMPANY

Trustli
nehascomeal ongwaysi nceitsinceptionin1989,offeri
ng
a wi de range off inancialservices to meett he customer s'
fi
nancialr equir
ement s,establi
shing a st r
ong presence int he
fi
nancialser vices sector.We of f
er cust omized investment
soluti
onst ocor por
ates,insti
tut
ionsandr etaili
nvestor
s,through
ourwi denet workofof fi
cesacr ossI ndiabydeal inginfinancial
mar kets,
insurance,wealt
hmanagement ,realestat
e&bul l
ions.

100000+Sati
sfi
edCli
ent
s
500+Employees
400+Offi
ces
20+YearsExper
ience

9|
Page
 MI
LESTONES
1989 St
art
edoper
ati
ons
1995 I
ncor
porat
ion of t
he
or
gani
zati
on
NSECashsegment
2000 Deposi
tor
ypar
ti
ci
pantof
CDSL
2003 Member
shi
pofNSEF&O
Member
shi
pofNCDEX
2004 Member
shi
pofMCX
2006 Member
shi
pBSEcash
Segment
2007 Launchofonl
i
net
radi
ng
Member
shi
pofBSEF&O
Deposi
tor
ypar
ti
ci
pantofNSDL
2009 Member
shi
pofcur
rency
SegmentNSE
2010 Member
shi
pofMCX-
SX
ofUSE
2011 LaunchofTr
ust
li
neGol
d
2012 Gr
antofpor
tfol
i
omanagement

10|
Page
 ser
vices(
PMS)Li
censebySEBI
2014 Gr
ant of Insur
ance Br
oki
ng
Li
censebyI
RDA

11|
Page
1.
2RRODUCTANDSERVI
CES
Onest
opsol
uti
onf
oral
lyourf
inanci
alNeeds

1.
1 Fi
nanci
alMar
ket
s

Offer
scomplet
etr
adi
ngf acil
it
iesofallMaj
orStock/Commodi
ty/Cur
rency
Exchangesf
orCor
por
ates,Insti
tut
ions&Retai
li
nvestor
s

1.
2 Weal
th

Prov
idescomprehensi
vewealt
hmanagementser
vicesl
i
kemut
ualf
unds,
Bonds,Loans&Port
fol
ioManagement

Mut ualFunds-
-Afundinwhichagroupofinvest
orspoolthei
rmoney
together,wi
thafi
xedi nv
estmentobj
ect
ive.WearebrokerforMut
ual
FundHousesr egi
ster
edwi t
hAMFI.

Bonds--
Investmentswi
thsmartint
erestret
urnsandal
sotaxbenef
its.
We arer egister
ed wi
ththe l
eading l
ead manager
sf orf
acil
i
tat
ing
i
nvestmentinbondsandfixeddeposi
ts.
Real
Est
ate

Bri
ngsyouthebestdealsoncommerci
alandresi
dent
ialpr
oper
tyi
nIndi
a
byoff
eri
ngt
hebestdiscount
s.Tr
ust
li
neRealEstat
ePvtLtd.
I
nsur
ance

Trustl
ineisoneoft hel eadi
ngdi rectinsurancebr okers 
inlif
eandgener al
i
nsuranceadv i
soryser v
icesandar eli
censedbyI nsuranceRegul at
oryand
DevelopmentAut hori
ty(IRDA).
Bei ngani nsurancebroker, t
hecompanyhas
ti
ed-upwi thmostof  t
hemaj ori nsur
ancepl ayersint hecount r
y.Weare
l
icensedt oplace busi
nesswi t
hanyofourpar t
nersbutwi l
lhelpinplaci
ngit
withmostsui t
ablecompanyi nt hemat t
erofcl ai
m set t
lementandwi tha
companyof feringthebestcov erageandmostcompet i
tivepri
cing.
OurSer v
ices

12|
Page
Heal
thI
nsur
ance
Li
feI
nsur
ance

Mot
orI
nsur
ance

Tr
avel
Insur
ance

Ot
herI
nsur
ance
Gol
d

Hel
psyoupl
anyourfut
ureneedsandpr
otect
syouf
rom f
utur
epr
ice
r
isk
I
nstaGol
dPr
ice:
18/07/
2017
Wei
ght1Gm 2Gm 10Gms 50Gms

Rat
e 3474 6494 30500 152510

*
pri
cesar
eincl
usi
veofal
ltaxes

1.
3CORPORATEETHOS

VI
SION :
-Tobecomet
hepr
efer
redl
ongt
ermf
inanci
alpar
tnert
oawi
de
baseofcust
omer
swhi
l
stopt
imi
zi
ngst
akehol
der
’sv
alue.

MI
SSI
ON:
-Rapi
dlyi
ncr
easet
henumberofcl
i
entr
elat
ionshi
psbypr
ovi
ding
abr
oadar
rayofpr
oductof
fer
ingt
oemer
geasacl
earmar
ketl
eader
.To
est
abl
i
shabaseofsat
isf
iedcust
omer
s.Wewi
l
lcr
eat
ethi
sbybei
nga
r
esponsi
bleandt
rust
wor
thypar
tner
.

VALUES

 Passi
on:
Hel
pingpeopl
e.Achi
evef
inanci
algoal
s.

I
ntegr
it
y:Bei
nget
hical
bui
l
dst
rust
.

 Rel
ati
onshi
p:Onet
ransact
ion.Li
fet
imer
elat
ionshi
p.

I
nnov
ati
on:
Bei
ngahead.Wi
thr
esear
chandt
echnol
ogy
.
13|
Page
Tr
ust
wor
thy
:Keepi
ngourpr
omi
seev
ery
time

1.
4KEYPEOPLE

DR.MUKESHKANSAL
Founder
,Chai
rman&Managi
ngDi
rect
or

SARI
KAKANSAL VI
NAYGUPTA SI
DDHARTHA

14|
Page
CHATARJEE
Dir
ect
or Di
rect
or Count
ryHead

MAYANKGOYAL JAGJITCHOUDHARY RAJI

VKAPOOR
Fi
nance&Account
s Admini
str
ati
on Commodi
ti
es

GAURAVGUPTA ASHOKPACHOURI RAJGARG

Port
fol
i
oManagement Busi
nessDev
elopment Ri
sk
Management

JAGDISHTYAGI MAHARAM SHARMA ROSHANSINGHNEGI

Set
tl
ement Set
tl
ement Por
tfol
i
oManagement

15|
Page
ANILPATEL
Ri
skManagement

16|
Page
1.
5MAJORCOMPETI
TORSI
NALI
GARH
AngelBr
oki
ngLi
mit
ed

KhanI
nsur
anceSer
vice

Kar
vyComput
erShar
ePr
iva

Mot
il
alOswalSecur
it
iesLT.

Apol
loSi
ndhoor
iCapi
talI
n.

Capi
tal
aim Fi
nanci
alAdvi
so

I
CICIDir
ect
Rel
igar
esecur
it
ies

Shar
ekhan

17|
Page
 Chapt
er-
2

INDUSTRY
OVERVIEW

18|
Page
2.
1MEANI
NG

Stock exchange i s a pl
atform wher e dealings t ake place i n shares.
debentures and bonds i ssued by pr i
vate sect or compani es,publ ic
enterpr
ises,governmentet c.Suchshar es,debent ures,bondsar ecal l
ed
securit
ies.Onlyt
hosecoul dbet radedthatarelist edont hestockexchange.
Stockexchangei salsocalledstockmar ketorsecur i
ti
esmar ket.I
tdealsi n
securit
ies li
ke shares,debent ures orbonds i ssued by pr ivat
e sect or
compani esandgov er
nmentcor porat
ions.Ast ockexchangei sorganized
byan associ ati
on ofi ndi
v i
duals.Thepur poseofest abl
ishing a stock
exchangei stoassist,
toregulateandt ocont r
ol thebusinessi nsecur i
ti
es.

PRI
MARYMARKET

Iti
salsoknownast henewi ssuesmarketwhichdealsinnewsecurit
iesie;
newblockofsharesanddebent ur
esoffer
edforthefi
rstti
meinthemar ket.
Itf
acil
it
atest
hetransferofinvesti
blef
undsfrom thei
rownerst
opr oductiv
e
channel
s.Aneffectivenewi ssuemarketencouragessavi
ngsandt heflow
ofsavi
ngsint
othei ndustr
ialenter
pri
ses.

METHODSOFI
SSUI
NGSECURI
TIES

INI
TIALPUBLICOFFER( IPO)orPubli
cIssuethr
oughProspect
us.Thefir
st
ti
mei ssueofsecuri
tiesbyacompanyi sknownasini
ti
alpubli
coffer(
IPO)
TheIPOi smadetot hepubli
cbyissui
ngaprospect
us.Thatiswhyiti
salso
knownaspublicissue.

OFFERFORSALE

A company may i ssue it

s new secur
iti
es to i
ts promoter
s and
i
nter
mediar
iesataspecif
iedpri
cehowev
ertheycanr
esel
littot
hegeneral
publ
ict
hisi
sknownasof ferf
orsal
e

PRI
VATEPLACEMENT

Underthi
sacompanysel l
sit
ssecuri
ti
es pri
vatel
yt oasmal
lgr
oupof
i
nvest
orssuchasf
inanci
ali
nst
it
uti
ons,
broker
s,f
inanci
ers

19|
Page
RI
GHTI
SSUE

Ifacompanywantsaddit
ionalcapi
tali
tcanof
ferequi
tyshar
est
oit
s
exi
sti
ngshar
ehol
der
siti
sknownasr i
ghti
ssue

SECONDRYMARKET

secondarymar keti
swher einvest
orsbuyandsellsecurit
iestheyal r
eady
own.Itiswhatmostpeopl etypi
cal
lythi
nkofasthe"stockmar ket,
"though
stocksarealsosoldont hepri
marymarketwhentheyar efir
stissued.The
nati
onalexchanges,suchasthenati
onalst
ockexchange

I
MPORTANCEOFSTOCKEXCHANGE

St
ockexchangeisani
ntegralpar
toft heeconomyofanycount
ry.Ther
ole
pl
ayedbythest
ockexchangeisdiscussedbelow

Stockexchangei
sanimport
antagencyofcapit
alf
ormat
ion.I
tinducest
he
publi
ctosaveandinv
esti
nthecorpor
atesect
or

Stockexchangeistheci t
adelofcapit
almarket
.Itconst
it
utethepri
me
centr
ethroughwhicht hebulkofinv
estmentact
ivi
ti
esareconduct
edby
i
ndivi
dual
sandinsti
tut
ionali
nvest
ors.

Stock exchange pl
ays an i
mportantpar
tto speed up t
he pr
ocess of
economicdev el
opmentinthecountr
y.

Stockexchangehasbeendescr i
bedast hepul seoftheeconomyofthe
countr
y.Itactsasagaugecl assofeconomi cconditi
onsinthecount
ry
sincevar
iousforcesgov
erninginvestmenttheindust
ryandcommerceare
refl
ect
edthroughtheact
ivi
ti
esofst ockexchange.

FUNCTI
ONSOFSTOCKEXCHANGE

Liqui
dit
y– Stockexchangeprov
idesar
eadymar
ketf
ort
hesecur
it
ies
i
ssuedbyvar
iousi
nsti
tut
ions.

Pri
cing of secur
iti
es-The for
ces of demand and suppl
y hel
ps i
n
det
er mi
ningthepr
icesofv
ari
oussecur
it
ies.
20|
Page
Mobil
izati
onofSavings–Stockexchangehel
psi
nmobil
i
zati
onofsurpl
us
fundsofi ndi
vi
dual
s,busi
nessfir
msandcooperati
vesfori
nvest
mentin
secur
iti
es.

Capit
alFormat
ion – Stock exchange notonly mobil
i
zes the exist
ing
savi
ngsbutal
soinducesthepublictosavemoneybecausei tpr
ovidesan
avenuef
ori
nvestmenti
nsecurit
ieswhichyiel
dshi
gherret
urns.

Safet
yofTr ansact
ions–Themember sofstockexchangehavet ooper
ate
undercert
ainruleswhichchecksov er
-t
radi
ng,i
ll
egit
imatespeculat
ionand
manipul
ati
on.Thus,st ock exchange saf
eguards the i
nterestof the
i
nvestor
s.

All
ocati
onofCapi talAmongCompani es– Thesharesofpr of
itmaki
ng
companiesar equotedathigherpri
cesinthest ockexchangeandare
act
ivel
ytraded.Thenewsharesofsuchcompaniesaresoughtaf
terbyt
he
i
nvestor
s.

Cl
eari
ngHousesofBusinessInfor
mat i
on-Havi
ngli
stedt
hesecuriti
esof
mostofthecompani
es,
ast ockexchangeser
vesasamedium ofbusi
ness
i
ntel
l
igence.

BarometerofPr ogr
ess –Stockexchange acts as a barometeroft he
businesscondi
ti
onsofthecountry
.Boomsanddepr essionsarerefl
ected
bytheindexpri
cesofvar
ioussecur
it
iesmaintai
nedbythest ockexchange.

I
ndianStockMarketisoneoft heoldestSt
ockMarketinAsia.EastIndia
t
h
CompanyusedtotransactLoanSecuri
ti
esbytheendof18  Centur
y.Inthe
1830s,
tradi
ngoncorporatestocksandshar
esinBankandCot tonpresses
tookpl
aceinBombay

Accordi
ngtoSEBI ,
Ther
eareat otal
of21st
ockexchangesinIndi
a,wit
ht he
BombaySt ockExchange( BSE)andtheNat i
onalStockExchange(NSE)
bei
ngt hel
argest.Bot
hofferstockswit
hvolumeandoppor t
unit
yasI ndia
andtheexchangesconti
nuetogrowandattr
actforei
gninv
estment.Before
21|
Page
i
nvest
ingont heseexchanges,tradersshouldknowtheregul
ati
ons,si
zeof
themarket
,thei ndexes,l
iqui
dit
y,aswel ldomesti
cwaystoinvestinI
ndi
a,
suchasETFsandAmer i
canDepositaryRecei
pts(ADRs)
.

2.
2 LI
ST OF STOCK EXCHNAGES I
N
I
NDIA
BombaySt
ockExchangeBSE(
1875)

Nat
ional
StockExchange(
NSE)(
1992)

AhmedabadSt
ockEx
change(
ASE)

Bangal
oreSt
ockExchageOf
fi
ce(
BgSE)(
1963)

BhubaneshwarSt
ockExchange(
BhSE)1989

Cal
cut
taSt
ockExchange(
CSE)(
1830)

Cochi
nSt
ockExchange(
CSE)(
1978)

Coi
mbat
oreSt
ockExchange(
CSX)(
1996)

Del
hist
ockexchange(DSE)
(1947)

Guwahat
iSt
ockExchange(
GSE)
(1983)

Hy
der
abadSt
ockExchange(
HSEL)(
1944)

Jai
purSt
ockExchange(
1989)

Ludhi
anaSt
ockExchange(
LSE)(
1998

Madhy
aPr
adeshSt
ockExchange(
MPSE)

Madr
asSt
ockExchange(
MSE)(
1920)

MagadhSt
ockExchange(
MSEA)(
1986)

22|
Page
Mangal
oreSt
ockExchange(
MgSE)(
1984)

Meer
utSt
ockExchange

PuneSt
ockExchange(
PSE)1982

Saur
asht
raKut
chSt
ockExchange(
SKSE)1989

Ut
tarPr
adeshSt
ockExchange(
UPSE)2000

MAJORSTOCKEXCHANGESARE

2.
3BOMBAYSTOCKEXCHANGE

TheBombayStockExchange(
BSE)isanIndi
anst
ockexchangelocatedat
Dal
alSt
reet
,Kal
aGhoda,Mumbai(f
ormerl
yBombay),
Maharasht
ra,India.

Est abli
shedin1875,t heBSEi sAsia’sfi
rststockexchange,I tclaimst obe
the wor ld'sfasteststock exchange,wi t
h a medi an t
rade speed of6
mi croseconds,TheBSEi st hewor l
d'
s11t hlargeststockexchangewi than
ov eral
lmar ketcapit
ali
zat
ionofmor ethan$2Tr i
l
li
onasofJul y ,2017.More
than 5500 compani esar e publ
icl
yl i
sted on the BSE.Oft hese,asof
Nov ember2016,t her
eareonl y7,800li
stedcompani esofwhi chonl y4000
tradeont hestockexchangesatBSEandNSE.Hencet hestockst radi
ngat
theBSEandNSEaccountf oronlyabout4%oft heIndianeconomy .

BombayStockExchangef oundedbyPr emchandRoy chand.Hewasoneof

themosti nf
luent
ialbusi
nessmeni n19th-centuryBombay.A manwho
madeafortuneinthestockbrokingbusi
nessandcamet obeknownast he
Cott
onKing,t
heBul l
ionKi
ngorj usttheBigBull.Hewasalsothefounderof
theNat
iveShareandSt ockBr okersAssoci
ation,aninst
it
uti
onthatisnow
knownastheBSE.

On August31,1957,theBSE becamet hefi

rstst
ockexchanget o be
recogni
zed by t
he I
ndian Gov
ernmentundert he Securi
ti
es Contr
acts
Regulati
onAct.I
n1980,theexchangemov edtothePhi r
ozeJeejeebhoy
Tower satDalalSt
reet
,Fortarea.In 1986,i
tdeveloped theS&P BSE

23|
Page
SENSEXindex,giv
ingt
heBSEameanst omeasur etheoveral
lperf
ormance
oftheexchange.In2000,t
heBSEusedt hisindext oopenitsderivat
ives
market
,tradi
ngS&PBSESENSEXf utur
escont racts.Thedevelopmentof
S&PBSESENSEXopt ionsalongwithequityder i
vati
vesfoll
owedi n2001
and2002,expandi
ngtheBSE'str
adi
ngplatform.

Histor
icallyan open out cryf loort r
ading exchange,t he BombaySt ock
Exchangeswi tchedt oanel ectronictradingsystem developedbyCMCLt d.
i
n1995.I tt ookt heexchangeonl y50day stomaket hi
st ransi
ti
on.Thi s
automat ed,scr een-based t rading pl
at f
orm cal l
ed BSE On- Line Trading
(BOLT)hadacapaci t
yof8mi l
li
onor der
sperday .TheBSEhasal so
i
ntroduced a cent r
ali
zed exchange- based i nt
ernet t r
ading sy stem,
BSEWEBx. co.i
nt oenabl einv estor
sany whereint hewor l
dt ot r
adeont he
BSEpl atform.NowBSEhasr ai
sedcapi talbyissuingshar esandason3r d
may2017t heBSEshar ewhi chistradedi nNSEonl yclosedwi thRs.999.

TheBSEi salsoaPar tnerExchangeoft

heUni t
edNat
ionsSust
ainabl
e
StockExchangeini
ti
ati
ve,joi
ningi
nSept
ember2012

PRODUCTSANDSERVI
CES

2 Mar ketDat
aPr
oduct
s
Equi
ty

BSEEquit
iesdatai
savai
labl
einReal-
ti
meandas1mi
nut
esnapshot
s
Fol
l
owingdatai
savai
l
abl
einthef
eedforEqui
ti
es.

 Level1Dat acontainsthefoll
owinginf
ormation:
o B SESecur i
tyCode
o Op en,Hi
gh,LowandLastTr adedPrice
o B estBid/Of ferwit
hVol ume
o T radedVolume
 Level2Dat acontainsthef oll
owinginformati
oni
naddi
ti
ont
othe
l
evel1dat a:
o We ight
edAv eragePrice

24|
Page
 o UpperCircui
tLi
mitandLowerCircui
tLi
mi t
o TurnoverVal
ue,NumberofTrades,Tr
end
o TotalBuyQuanti
tyandTot
alSellQuanti
ty

Der
ivat
ives

BSEpr ov i
destradi
ngoppor tunit
iesf orEquityandI ndexDer i
vat
ives.The
datarelatedtot hetradi
ngoft hesei nstrumentsisav ail
ableinthesame
for
matast heEquit
iesdata.
BSEcur rentl
yhasI ndexandEqui tyFuturescontracts,IndexandEqui t
y
MonthlyOpt i
onscontract
sandI ndexandEqui tyWeeklyOpt i
onscontracts.
Forthepur poseofpopul ari
singt heDeriv at
ivestr
adingonBSE,cur rentl
y
Deri
vati
v esdataisbeingprovidedf reeofchar geandwi t
houtanyr eport
ing
obl
igati
onsf orReal-
ti
medi st
ributors.

I
ndi
ces

BSEI ndi
cesareav ai
l
ablethr
oughthefeedinReal-
ti
meandas1mi nut e
snapshots.
Alli
ndicesthatar
ecalcul
atedonreal
-t
imearebeingprovidedi
nthi
sf eed.
Open, Hi
gh,LowandLatestVal
ueoftheIndi
cesar
eprovidedint
hefeed.

Cor
por
ateDat
a

EODPr
oduct
s

Ot
herDat
aPr
oduct
s

Pr
oductPr
ici
ng

25|
Page
 Hi
stor
ical
Dat
a

3 BSESENSEX

S&PBSESENSEX

Ty
pe St
ockExchange

Locat
ionMumbai
,Mahar
asht
ra,
Indi
a

Cur
rencyI
ndi
anr
upee(
INR/
₹)

Websi
tewww.
bsei
ndi
a.com

26|
Page
TheS&PBSESENSEX( S&PBombaySt ockExchangeSensi t
iveIndex),al
so-
call
edt heBSE30orsi mplytheSENSEX,isaf ree-
floatmar ket
-weighted
stockmar ketindexof30wel l
-est
abl
i
shedandf inanciall
ysoundcompani es
l
istedonBombaySt ockExchange.The30componentcompani eswhi ch
aresomeoft helargestandmostact i
vel
ytradedst ocks,arerepresentat
ive
ofv ar
iousi ndustr
ialsect orsoftheIndi
aneconomy .Publishedsi nce1
January1986,t heS&P BSE SENSEX i sr egarded ast hepul se oft he
domest i
cstockmar ketsinIndi
a.

Asof29August2017,SENSEXconst
it
utesof31st
ocks(
Tat
aMot
orshas
twost
ocksi
ntheli
st)

NATI
ONALSTOCKEXCHANGE

InApri
l1992,BombaySt ockExchangecrashedduetoHar shadMeht a
Scam.Financemi ni
sterMr.ManmohanSi nghurgedt heneedofot her
Stock Exchange in competi
ti
on to BSE. He tapped the Indust
rial
Devel
opmentBank ( IDB)tot ake t
he l
ead ofthe proj
ectofcr eat
ing
competi
tionforBSE.

I
nNov ember1992, 
NSE(Nati
onalSt
ockExchange)  
wasest abl
ishedast he
fi
rstel
ectroni
cal
l
ytradedStockExchangei nIndi
a.Af t
eraf ew y ear
sof
operat
ions,t
heNSEhasbecomethelargeststockexchangeinIndia.

BSEalsoautomatedthesy
stemsi
n1995buti
tnev
ercaughtupwi
thNSE
SpotMarkett
urnover
.

Threesegmentsoft heNSEt radi

ngplatf
orm wer
eestabli
shedoneaf t
er
another
.TheWhol esaleDebtMar ket(WDM)commencedoper ati
onsin
June1994andtheCapi t
alMarket(CM)segmentwasopenedatt heendof
1994.Final
l
y,t
heFut ur
esandOpt ionssegmentbeganoperati
ngin2000.
TodaytheNSEt akesthe14thpositi
oninthetop40fut
uresexchangesin
theworl
d.

I
n 1996,the NationalSt
ock Exchange ofIndi
al aunched S&P CNX
Ni
ft
y. 
CNXNi f
ty(Nift
y=NationalFi
ft
y) 
isadiv
ersi
fi
edindexof50st ocks
f
rom 25di
ff
erenteconomysector
s.

I
n1998,t
heNat
ionalSt
ockExchangeofI
ndi
alaunchedi
tsweb-
sit
eand

27|
Page
wasthefi
rstexchangeinIndi
athatst
art
edtr
adi
ngstockontheI
nterneti
n
2000.
 Today,NSEhasr oughl
y66% ofequi
tyspottur
nov
erandr oughl
y
100%ofequit
yderivat
ivest
urnover
.

TheNat ionalStockExchangeofI ndiaLimited(NSE)i st heleadingstock

exchangeofI ndia,locatedinMumbai .TheNSEwasest ablishedin1992as
thefir
stdemut ualizedelectr
onicexchangei nthecount r
y .NSEwast hefir
st
exchangei nthecount rytoprovideamoder n, f
ull
yaut omatedscreen-based
electr
onict r
ading sy stem whi ch of f
ered easy t r
ading facil
i
tyt ot he
i
nv estor
sspreadacr osst helengthandbr eadthoft hecount ry.
MrVi kr
am
Limay ei
sManagi ngDi r
ector&Chi efExecut
iveOfficer(MD&CEO)ofNSE

Nati
onalSt ockExchangehasat otalmar ketcapitali
zati
onofmor ethan
US$1.41t r
il
li
on,maki ngitthewor ld’
s12t h-l
argeststockexchangeasof
March2016. NSE'sflagshipi ndex,theNI FTY50,t he51st ockindex(50
companieswi th51secur it
iesi ncl
usiveofDVR) ,isusedext ensi
vel
yby
i
nvestorsinIndi
aandar oundt hewor l
dasabar omet eroftheI
ndi
ancapital
markets.Howev er
,onl yabout4%oft heIndi aneconomy/GDPi sact
ually
[2]
der
ivedfrom thestockexchangesi nIndia.

NSEof
fer
str
adi
ngi
nthef
oll
owi
ngsegment
s

Equi
ti
es

 Equit
ies
 I
ndices
 Mutual Funds
 ExchangeTr adedFunds
 I
niti
alPublicOffer
ings
 Securit
yLendingandBorrowi
ngScheme

Der
ivat
ives

28|
Page
  Equi
tyDeri
vati
ves(incl
udi
ngGl
obalI
ndi
cesl
i
keCNX 500,
DowJonesandFTS
 Curr
encyDeri
vat
ives
 I
nter
estRateFut
ures

Debt

 Cor
por
ateBonds

29|
Page
2.
4Secur
it
iesandExchangeBoar
dofI
ndi
a

TheSecuri
ti
esandExchangeBoardofIndi
awasestabli
shedonApri
l12,
1992inaccordancewi t
hthepr
ovi
sionsoftheSecur
it
iesandExchange
Boar
dofIndiaAct,1992.

ThePreambl eoftheSecurit
iesandExchangeBoardofIndi
adescri
besthe
basicfunct
ionsoft heSecuri
ti
esandExchangeBoar dofI ndiaas".
..
to
prot
ectt he inter
ests ofinvest
orsin secur
it
ies and to promot
et he
devel
opmentof ,andt oregul
atethesecuri
ti
esmar ketandf ormatt
ers
connectedt
her ewit
horinci
dentalt
her
eto

30|
Page
TheSt
ockMar
ket
,Indi
vi
dual
Inv
est
ors,
andFi
nanci
alRi
sk:

Riskierl
ong-
ter
m savingrequir
edthatanindivi
dualpossesst heabil
i
tyto
managet heassoci
atedincreasedri
sks.Stockpricesfluct
uat
edwidely,i
n
mar kedcont
rastt
othest abil
i
tyof(gover
nmenti nsured)bankdeposi
tsor
bonds.

Thi
s somet hing thatcoul
d af
fectnotonlythe i
ndi
vidualinvest
ors or
households,butalsotheeconomyonal argescal
e.Thef ol
lowingdeals
wit
hsomeoft heri
sksofthefi
nanci
alsector
singeneralandt hest
ock
marketinparticul
ar.

Thi
si s cer
tai
nlymor eimpor tantnow thatso manynewcomer s have
ent
eredthestockmar ket
,orhav eacqui
redot
her‘ri
sky’i
nvest
ment(such
as‘
investment
’proper
ty,i
.e.
,realest
ateandcol
lect
ables.
)

Wi t
heachpassi
ngy ear,t
henoi selev
elinthestockmarketr
ises.Tel
evi
si
on
commentators,
financi
alwrit
ers,analysi
s,andmarketst
rat
egiesareal
lover
taki
ngeachothertogetinvestors‘
attenti
on’.

Atthe same ti
me,indi
vi
dualinv
estors,i
mmersed i
n chatr ooms and
messageboar
ds,ar
eexchangi
ngquesti
onabl
eandoft
enmisleadingt
ips.

Yet
,despiteallthi
savai
l
ableinf
ormation,inv
estorsfind i
tincr
easi
ngl
y
di
ff
icul
ttoprofi
t.St
ockpr
icessky
rocketwithli
tt
lereasons,t
henplummet
j
ustasquickl
y.

31|
Page
Andpeopl
ewhohav eturnedtoinvest
ingfort
heirchi
ldr
en’seducat
ionand
thei
rownret
ir
ementbecomef ri
ght
ened.Sometimesthereappearst
obeno
rhymeorr
easont
ot hemar ket
,onl
yfol
ly.

Thebehav
ioroft
hest
ockmar
ket
:

From exper
iencesweknowt hatinv
estorsmay‘tempor
ari
ly
’mov efi
nancial
pri
cesawayf r
om theirl
ongtermsaggr egat
eprice‘
tr
end’(posi
ti
veorup
tr
endsar er
eferredtoasbul
lmarkets:negati
veordowntr
endsarerefer
red
toasbearmar ket
s.)

Bul
l
ish

Investorswhobel iev
ethatastockpr i
cewi llincr
easeovertimearesai dto
bebul li
sh.Investorswhobuycal l
sarebul l
ishont heunderly
ingstock.That
i
s,t heybelievet hatthestockpri
cewi l
lriseandhav epai
df ortherightto
pur chasethest ockataspecifi
cpr i
ceknownast heexer
cisepri
ceorst ri
ke
price.Aninv estorwhohassol dputsisalsoconsi der
edtobebul li
shont he
stock.Thesel l
erofaputhasanobl i
gati
ont obuythestockand, t
herefore,
believesthatthest ockpr
icewill
rise.

Bear
ish

Investorswhobeliev
et hatastockpricewilldecl
inearesaidtobebearish.
Thesel l
erofacallhasanobl i
gati
ont osellthestocktot hepur
chaserata
specifi
edpr i
ceandbel iev
esthatthest ockpr i
cewillfal
landistheref
or e
bearish.Thebuyerofaputwant sthepricetodropsot hattheymaysellt
he
stockatahi gherpricetothesel l
eroft heputcont r
act.Theyarealso
consideredtobebearishonthestock

Cal
l
s Put
s

Bul
l
ish: Bear
ish:
Buy
ers
Haveri
ghtto buy st
ock,want
Haveri
ghtt
osel
lst
ock,
wantst
ock
st
ockpr
icet
ori
se tof
all

32|
Page
 Bear
ish: Bul
l
ish:
Sel
l
ersHave obl
i
gat
ion to sel
lst
ock,
Hav eobl
igat
iontobuyst
ock,want
wantst
ockpr
icet
ofall stockpri
cetori
se

St
ockmar
ketcr
ash:

Ast ockmar ketcr

ashi soft
endef i
nedasashar pdipi
nsharepricesof
equitiesli
stedont hestockexchanges.Inparall
elwit
hvari
ouseconomics
factors,ar easonforstockmarketcrashesisalsoduetoStockpanicand
i
nv estingpubl i
c’slossofconfidence.Often,stockmarketcr
ashesend
specul at
iveeconomi csbubbl
es.

Therehavebeenfamousst ockmarketcrashesthathaveendedintheloss
ofbill
ions ofdol
lar
s and wealt
h destructi
on on a massive scal
e.An
i
ncreasingnumberofpeopl ear
einvolvedint hestockmarket,especial
ly
si
nce the soci
alsecuri
ty and r
etir
ementpl ans are bei
ng incr
easingly
pri
vati
zedandli
nkedtostocksandbondsandot herel
ementsofthemar ket
.

33|
Page
2.
5DEMATACCOUNT

DematAccount  
ordemateri
ali
zedaccountpr ovi
dest hef aci
li
tyofholdi
ng
sharesandsecurit
iesi
nel
ectroni
cformat.Duringonlinetradi
ng,shar
esare
boughtandhel dinademataccount ,thusf aci
li
tati
ngeasyt r
adeforthe
users.ADematAccounthol dsallt
hei nv
estmentsani ndivi
dualmakesin
shares,gov
ernmentsecuri
ti
es,exchangetradedf unds,bondsandmut ual
fundsinoneplace.

Demat eri
ali
zati
on ist he pr ocess of conv
ert
ing the Phy
sicalshare
cert
if
icatesintoelect
roni
cf orm whichi smuchmor eeasymai nt
ainand
accessibl
ef r
om anywherethroughwor l
d.

DematAccountser v
icei spr ovidedbydeposit
oriessuchasNSDLand
CDSLt hroughinter
medi aries/Deposi t
oryPar
ti
cipant/StockBrokersuch
asAngelBr oki
ng.Thechar gesofdemataccountv ar
yasperthev ol
ume
heldi
nt heaccount ,typesubscr ibedandthet
ermsandcondi t
ionslai
dby
thedepositoryandtheSt ockBr oker.

3.
1 Dematbenef
it
s

Demataccountf
orshar
esandsecur
it
ieswi
thBusi
nesspur
pose

Thebenef
it
sofdematar
easf
oll
ows:

34|
Page
 Easyandconv enientwayt ohol dsecur i
ties
 Immedi at etransferofsecur i
ti
es
 Nost ampdut yont ransferofsecur i
ties
 Safert han paper -
shar es (earli
err i
sks associ ated wi th physical
cert
ifi
cat essuchasbaddel ivery,f akesecur it
ies,del ays,theft
set c.
aremost l
yel i
mi nated)
 Reducedpaper wor kfort r
ansferofsecur i
ti
es
 Reducedt ransactioncost
 No" oddl ot"problem: evenoneshar ecanbesol d
 Changei naddr essr ecordedwi thaDeposi torypar ti
cipant( DP)get s
regi
stered wi th allcompani es in whi ch investorhol ds secur i
ti
es
eli
minat i
ngt heneedt ocorrespondwi theachoft hem separ atel
y.
 Transmi ssionofsecur iti
esisdonebyDP,el i
mi natingt heneedf or
noti
fyingcompani es.
 Automat ic cr editi nto demataccountf orshar es arising outof
bonus/ split
,consol idati
on/ merger, etc.
 Asingl edemataccountcanhol dinv estmentsi nbot hequi t
yanddebt
i
nstrument s.
 Traderscanwor kf r
om any where( e.g.ev enfrom home) .

35|
Page
Benef
itt
othecompany

Thedeposi tor
ysy st
em hel psinreduci
ngt hecostofnew issuesduet o
l
owerpr i
nti
nganddi st
ributi
oncosts.Itincreasestheeffi
ci
encyoft he
regi
strarsandtransf
eragent sandthesecr
etari
aldepart
mentofacompany .
Itprov i
des betterfaci
li
ties forcommuni cati
on and ti
mely ser
vice t
o
shareholder
sandi nvest
ors.

Benef i
ttot hei nvest
or  
:Thedeposi tor
ysy st
em reducesr i
sksinvolvedi n
holdi
ng phy sicalcertifi
cates,e.g.,loss,t heft
,mut i
lati
on,forgery
,et c.It
ensurestransf ersett
lement sandr educesdel ayinregistr
ati
onofshar es.It
ensuresf astercommuni cati
ont oi nvestors.Ithelpsav oi
dbaddel ivery
problemsduet osignaturedi f
ferences,etc.Itensuresf ast
erpay menton
saleofshar es.Nost ampdut yispai dont r
ansferofshar es.Itprovides
mor eaccept abil
it
yandl iquidi
tyofsecur i
ti
es.

36|
Page
Benef
it
stobr
oker
s

I
treducesr
isksofdel
ayedset
tl
ement
.Itensur
esgr
eat
erpr
ofi
tduet
o
i
ncr
easei
nvol
umeoft
radi
ng.I
tel
i
minat
eschancesoff
orger
yorbad
del
i
ver
y.I
tincr
eases ov
eral
ltr
adi
ng and pr
ofi
tabi
l
ity
.Iti
ncr
eases
conf
idencei
nthei
rinv
est
ors.Document
sRequi
redForDematAccount

ToopenaDemataccounty
ouhav
etopr
ovi
dedocument
swhi
chf
ulf
ilt
he
r
equi
rement
sofKYC(
Know YourCust
omer
)nor
ms.Youhav
etosi
gna
cont
ractwi
thSt
ockbr
oker
.Gener
all
ythedocument
sar
e:

 PAN(
Compul
sor
y)

 Bankst
atement(
last3mont
hs)

 Addr
essPr
oof

 I
ncomeTaxRet
urn

 Twocol
orphot
os

 Bankcr
ossedCheque(
Ifr
equi
red)

 KYCdet
ail
s.

37|
Page
Whati
sDemat
eri
ali
zat
ion?

Demateral
i
sation i
st he conv
ersi
on ofphy
sicalcer
ti
fi
cat
es i
nto demat
hol
dingsattherequestofthei
nvest
ors

This syst
em ofdemat er
ali
sat
ion works through a deposi
tor
y who i
s
regi
ster
ed wit
hthe Securi
ti
es and Exchange Board ofIndia(SEBI
)to
perf
ormt hef
unct
ionsofadeposit
oryasregulatedbySEBI.

UnderSection68B oft heCompani esAct,i

nser tedbyt heCompani es
(Amendment )Act,2000,i
tismandatedthatev
er yinit
ialpubl
i
cof f
ermade
byal i
stedcompanyi ntheexcessofRs10Cr ores hast obei ssuedin
demateri
ali
zed form bycompl yi
ng wit
ht herequisit
epr ovi
sionsoft he
Deposi
tori
esAct, 1996

Theent i
reprocessofdemater
ial
izat
iontakesabout15daysti
me.However,
forthosecaseswher eav erylargeamountofcer ti
fi
cat
esaresubmit
ted
from insti
tuti
ons fordemateri
ali
zati
on,upto 30 days ar
e al
lowed f
or
demat er
ial
izat
ion.

Thepr
ocessi
sdepi
ctedi
nfol
l
owi
ngf
igur
e:-

38|
Page
 2

6
1

4 5
3

Demat
eri
ali
zat
ionPr
ocess:
-

1.The i
nvestor
s surr
ender def
aced cer
ti
fi
cat
es al
ong wi
th t
he
demat
eri
ali
zati
onr
equestf
orm(DRF)t
ohisDP.

2.TheDPi
nti
mat
est
heNSDLoft
her
equestt
hrought
hesy
stem.

3.TheDPsubmi
tst
hecer
ti
fi
cat
esal
ongwi
tht
heDRFt
other
egi
str
ar.

4.Ther
egi
str
arconf
ir
mst
hedemat
eri
ali
zat
ionr
equestf
rom t
heNSDL.

5.Theregi
str
arv
ali
dat
est
her
equestupdat
erecor
dsandi
nfor
mst
he
NSDL.

6.TheNSDLcr
edi
tst
heDP’
saccountandi
nfor
mst
heDP.

7.TheDPupdat
est
hei
nvest
orsaccountandi
nfor
mst
hei
nvest
ors.

Remat eri
ali
zat
ion:-Theconversi
onofdemat eri
ali
zedholdi
ngsbackinto
physicalcert
if
icatesiscal
l
edremat er
ial
izat
ion.Typical
l
yremat
eri
ali
zat
ion
takesplacethroughthefol
l
owingsteps:-

1.Thebenef
ici
alownersubmi
tsar
emat
eri
ali
zat
ionr
equestf
orm(
RRF)
39|
Page
 t
otheDP.

2.TheDPi
nti
mat
est
heNSDLoft
her
equestt
hrought
hesy
stem.

3.TheDPsubmi
tst
heRRFt
other
egi
str
ar.

4.TheNSDLconf
ir
msr
emat
eri
ali
zat
ionr
equestt
other
egi
str
ar.

5.Theregi
str
arupdat
esaccount
sandpr
int
scer
ti
fi
cat
esandi
nfor
ms
theNSDL.

6.TheNSDLupdat
esaccount
sanddownl
oadsdet
ail
stot
heDP.

7.Ther
egi
str
ardi
spat
chest
hecer
ti
fi
cat
est
othei
nvest
ors.

Theenti
reprocessofr
emat
eri
ali
zat
iont
akesamaxi
mum of30day
s.I
tis
depi
ctedi
nthef i
gur
e
2

6
1

4 5
3

Fi
g:-Remat
eri
ali
zat
ionPr
ocess

2.
6DEPOSI
TORYPARTI
CIPANT

NSDLandCDSL’
sdematser
vicesar
eex
tendedt
hroughi
tsagent
scal
l
ed

40|
Page
Deposi t
oryPar t
ici
pant
s(DP).TheDPi stheli
nkbetweentheinvest
orand
CDSL.Ani nvestorwhoopensademataccountwi t
haDPcanut il
i
sethe
servicesofferedbyCDSL.Whi l
etheDPpr ocessesthei
nstr
ucti
onsofthe
i
nv estor,t
heaccountandr ecor
dsthereofismaintai
nedwi
thCDSL.ADPi s
thusa" PointofServi
ce"f
ortheinv
estor

EXI
STI
NGDEPOSI
TORI
ESI
NINDI
A

Present
lyt
here aretwo deposi
tor
ies i
nthe count
ry,namely Nat
ional
Securi
ti
esDeposit
oryLi
mited(NSDL)andCentralDeposi
tor
iesServices
Li
mi t
ed

NSDL: -wassetupast hefi

rstdeposit
orycompanyinthecountr
y ,i
thas
beensponsoredbyt heunitt
rustofindia,NSE,st
atebankofindi
a,HDFC
bankandci t
ybank.Asapubl i
cli
mi t
edcompany ,i
tismanagedbyaBoar d
ofDirect
ors.Itisgover
nedbyi tsby e-
lawsandbusinessoperat
ionsare
regul
atedbyitsbusi
nessrol
es.

FUNCTIONS The NSDL per forms t he f oll

owi ng f unct i
ons t hrough
deposit
ory parti
cipants:-( i
)Enables the sur render and wi thdrawlof
securi
ti
es t o, and f r
om, t he deposi tory ( demat eri
alizati
on and
remateri
ali
zati
on);(ii
)mai ntainsinvestorhol dingsi nt heel ectronicfor m;
(i
ii
)ef
fectssettl
ement sofsecur it
iest r
adedont heexchanges;( iv)carries
outsettl
ementoft radesnotdoneont hest ockexchange( off-mar ket
rat
es);( v) transfer of secur it
ies; (vi) pl edgi ng/hy pothecat i
on of
demateri
ali
zati
onsecur it
ies;(vi
i)electroni
ccr editi npubl i
cof feri
ngsof
companies( v
ii
i)receiptofnoncashcor porat ebenef i
tsl i
kebonus,r ight s,
andsooni nelectroni
cf orm and(ix)stocklendi ngandbor rowing

SERVI
CESOFFEREDBYNSDL

Mai
ntenanceofBenef
ici
alHol
dingsThr
oughDP’
S

Demat
eral
i
zat
ion

41|
Page
Tr
adi
ngandSet
tl
ementi
nDemat
eral
i
sedSecur
it
ies

Recei
ptofAl
l
otmenti
ntheDemat
eral
i
sedFor
m

Recei
ptofCor
por
ateBenef
it
s

Pl
edgi
ngandHy
pot
hecat
ionFaci
l
iti
es

Fr
eezi
ng/
Locki
ngofanI
nvest
or’
sAccount

St
ockLendi
ngandBor
rowi
ngFaci
l
iti
es

Mar
ketTr
ade(
Sal
eofSecur
it
ies)

CDSL

CDSLf acili
tateshol dingofsecur i
ti
esi ntheelectroni
cf orm andenabl es
securi
ti
est ransactionst obepr ocessedbybookent ry.TheDeposi tory
Part
ici
pant( DP) ,who asanagentoft hedeposi tor
y,offer
sdeposi tory
servi
cest oinv est
or s.AccordingtoSEBIgui deli
nes,financi
alinsti
tut
ions,
banks,custodi ans,st ockbr
okers,et c.are el
igibl
et o actas DPs.The
i
nvestorwhoi sknownasbenef i
cialowner( BO)hast oopenademat
accountt hrough any DP f or demat er
ial
i
sation of his holdings and
tr
ansferr
ingsecur it
ies.

Thebalancesi nt heinvestorsaccountrecor
dedandmai ntainedwithCDSL
canbeobt ainedt hrought heDP.TheDPi sr
equi
r edtopr ovi
detheinv est
or,
atregularinter
v al
s,ast atementofaccountwhi chgi vesthedetail
soft he
securi
ti
eshol dingsandt ransact
ions.Thedepositor
ysy stem haseffecti
vely
el
iminatedpaper -
basedcer ti
fi
cateswhi chwerepr onet obef ake,forged,
counterfei
tr esulti
ng in bad del i
veri
es.CDSL of f
ers an effi
cientand
i
nstantaneoust ransferofsecuri
ties.

CDSLwasini
ti
all
ypromot
edbyBSELt d.whi
chhast
her
eaf
terdi
vest
edi
ts
st
aket
oleadi
ngbanksas"Sponsor
s"ofCDSL

CDSL'ssy stem i
sbasedoncent r
aliseddatabasear chi
tect
urewi thon-l
ine
connecti
v i
tywit
hDPs.Becauseoft hi scentr
ali
sedarchit
ecture,thecostfor
sett
ingupaDPout fi
tunderCDSLsy st
em issigni
fi
cantlylower.Simil
arly
,
therecurri
ngcost stobeincurredbyaCDSL- DPint ermsofmai ntai
ning
back-upsandt herelat
eddat astoragear eminimal.ThisenablesaCDSL-
DPt oofferdeposit
oryser
vicestoinv est
orsatanattract
ivepriceandatt he
42|
Page
same time achieve break-
even fast
eratmuch l owerv olumes.The
cent
rali
sed ar
chit
ectur
eal so al
lowsCDSL- DP to makeavail
abletothe
i
nvestorsato-
the-
minutestatusofthei
raccountandtr
ansact
ions.

CDSL-
DPscanal
sosetupbr
ancheswi
thdi
rectel
ect
roni
cconnect
ivi
tywi
th
CDSL.

CDSL- DPscan also extend ser

vicetoi nv
est
orst
hrough t
hei
rvar
ious
ser
vicecent
ersconnectedthr
ought hei
rback

2.
7ONLI
NETRADI
NG

Onli
net r
adingissi mplybuyi
ngandselli
ngassetst hroughabr oker
age'
s
i
nternet
-based propri
etar
ytradi
ng pl
atf
orms.Theuseofonl i
net r
adi
ng
i
ncreaseddr amatical
lyinthemi d-t
ol at
e-'
90swi tht heint
roducti
onof
af
fordablehigh-
speedcomput er
sandint
ernetconnecti
ons.

St
ocks,bonds,mut
ualf
unds,ETFs,opt
ions,f
utur
es,andcur
renci
escanal
l
betr
adedonli
ne.

Al
soknownase-
tr
adi
ngorsel
f-
dir
ect
edi
nvest
ing.

Whatar
etheadv
ant
agesanddi
sadv
ant
agesofOnl
i
neTr
adi
ng?

Duetotheprobl
emst
hatar
oseduri
ngpapershar
es,t
her
ewasaneedofa
syst
em thatwoul
dmakeshar
etransf
er,buy
ing/
sel
l
ingofshar
es,et
c.an
easi
eraff
air
.

Therefor
ein1996,t
heIndianpar
li
amentpassedtheDer
ivat
ivesact
,whi
ch
al
lowedonlinetr
ansact
ionofshares,t
husmakingitmucheasierfort
he
brokerandi
nvest
or.

43|
Page
I
nthenewonli
neTradi
ngsystem,aninvest
ormustopenademataccount
wi
thoneoft
heStockBroker
stostar
ttradi
ngonl
i
ne.

Ademataccounti
samustf
orani
nvest
ort
otr
adeonl
i
ne.

Ment
ionedbel
owar
esomeoft
headv
ant
agesoft
radi
ngonl
i
ne:

1)
  
  
  
 
  
  Easi
erandconv
eni
entwayt
oownshar
es

2)
  
  
  
 
  
  I
mmedi
atet
ransf
er

3)
  
  
  
 
  
  Zer
ost
ampdut
yont
ransf
erofshar
es

4)
  
  
  
 
  
  Saf
ert
hanpapershar
es,
e.g.
,fakesi
gnat
ures,
del
ay,
thef
ts,
etc.

5)
  
  
  
 
  
  Lesserpaper
wor
kfort
ransf
erofsecur
it
ies

6)
  
  
  
 
  
  Lesst
ransact
ioncost

7)
  
  
  
 
  
  No“
odd”pr
obl
ems.Ev
enasi
ngl
eshar
ecanbesol
d.

8) 
  
  
 
  
   DPregi
stersachangei
naddr
esswi
thal
lcompani
es.Noneedf
or
thei
nv estort
ocontactt
hecompani
esi
mmedi
atel
y.

9) 
  
  
 
  
  
 DP t r
ansmi
ssi
on ofsecur
it
ies,t
hus el
i
minat
ing t
he need of
noti
fyi
ngthecompani
es.

10)
  
  
  
  
 Aut
omat
iccr
edi
tindemataccount
s

11)
  
  
  
  
 Bot
hequi
tyanddebti
nst
rument
scanbehel
dbyademataccount

Thedeposi t
orysy st
em ai dsinr educi
ngt heexpendit
ureofnewissuesdue
tolesserprint
inganddi stri
buti
oncost s.Iti
ncreasestheeffi
ci
encyofthe
regi
strarsandtransferagent sandt hesecret
ari
aldepart
mentofacompany .
Itprov i
des betterf aci
lit
ies forcommuni cat
ion and ti
mely ser
vice t
o
shareholder
sandi nvestors.

Thedi
sadv
ant
agesofonl
i
net
radi
ngar
ement
ionedbel
ow:

44|
Page
1) 
  
  
 
  
   I
nv est
ors,whoaretr
adingf
orthefi
rstt
ime,gowit
hthefl
owand
getimmer sedi ntechnol
ogyandactual
l
ytemporar
il
yfor
getthatt
heyar
e
act
uallyusingtheirr
ealmoney.
 

2)
  
  
  
 
  
  Ther
eisnor el
ati
onshi
pthatofament orbetweenapr
ofessi
onal
br
okerandanonlinet r
adi
ngaccountholder
,thusleavi
ngthei
nvest
oron
hi
sownt omakechoicesoftheri
ghtshar
es.

3)
  
  
  
 
   
 User
swhoarenotf
ami
li
arwitht
hei
nsandoutsofthebasi
csof
br
okeragesoftwar
ecanmakemist
akeswhi
chcanprovetobeacostly
af
fai
r.

4) 
  
  
  
  
  Thisi
slikeanyotherfinanci
alstr
ategy,
whereyourcommitmentt o
onli
netradingtakesresearchanddedi cat
iontomakesurebyy our
selfthat
every
thingisupt opar.Youhav etotaketi
meoutt odoyourownr esearch
wherey ouwi l
lhav etoov ercomeagr eatlear
ningcurv
et omakesome
moneyf rom onl
inetradi
ngapossi bil
i
ty.

45|
Page
 Chapt
er-
3

RESEARCH
METHODOLOGY

46|
Page
 RESEARCHOBJECTI
VES

Thest
udywasconduct
edatTRUSTLI
NESECURTI
ESLt
d.,keepi
ngi
nmi
nd
t
hef
oll
owi
ngobj
ect
ives:
-

Pr
imaryObj
ecti
ves:
 Acomparati
vest udyofv
ari
ousbroki
ngfir
msont hebasi
sofv
ari
ous
par
ametersrel
atedtoonl
inet
radi
ngintheAli
gar
hregi
on.

Secondar
yObj
ect
ives:
 Toi
dent
if
ythecompet
it
ivef
act
orst
hatdi
ff
erent
iat
esTr
ust
li
newi
th
ot
herpl
ayer
sint
hei
ndust
ry
 To i
dent
if
ythe f
act
orst
hrough whi
ch t
he companycan gai
na
compet
it
iveedgeov
erot
herpl
ayer
sint
hei
ndust
ry.
 Toi
dent
if
ythel
atestt
ool
sandonl
i
net
radi
ngpl
atf
ormsf
aci
l
itat
ing
onl
i
neshar
etr
adi
ng.
 Toanal
yzeov
eral
linv
est
orsper
cept
ionandbehav
iourt
owar
dsonl
i
ne
shar
etr
adi
ng.

47|
Page
48|
Page
Resear
ch Met
hodologyref
ersto sear
ch ofknowl
edge.Itcan al
so be
defi
nedasascienti
fi
candsyst
ematicsear
chfort
herequi
redinf
ormat
ion
onaspeci
fi
ctopic.

Resear ch methodologyis a wayt o syst

emat i
call
ysolv
et he r
esearch
problem.Resear chmet hodologyref
erst osearchofknowledge.Itisa
carefulinvest
igat
ionorinqui
ryespecial
l
ythroughresear
chfornewfactsin
anybr anchofknowl edgeforexamplesomeaut horshav
edefi
nedresearch
met hodologyasasy stemati
zedeff
orttogainnewknowledge

Uni
ver
se

 Fi
nit
e.

RESEARCHDESI
GN

Ther
esear
chdesi
gnmaybeexpl
orat
oryordescr
ipt
ive.Thi
spr
ojecti
s
basedondescr
ipt
iver
esear
chdesi
gn.Fi
ndi
ngsar
etent
ati
vei
nnat
ure.

Col
l
ect
ionofdat
a

Dat
acol
l
ect
edi
sbot
hpr
imar
yandsecondar
yinnat
ure.

Pr
imar
yDat
a:

Aquest
ionnai
re(
ref
erAppendi
x)wasgi
vent
othecl
i
ent
sandv
ari
ousot
her
i
nvest
ors and wer
e asked t
orespond t
ovar
ious quest
ions i
nthe
quest
ionnai
ref
orassessi
ngt
hei
nvest
orsbehav
iort
owar
dsonl
i
neshar
e
t
radi
ng.

49|
Page
Secondar
yDat
a:

Thedat
aiscol
l
ect
edf
rom t
hei
nfor
mat
ionandgui
dancepr
ovi
dedbyt
he
super
visor
,company
’swebsi
te,
Int
ernet
.

SAMPLI
NGTECHNI
QUE:

Nonpr
obabi
l
itysampl
i
ng

 Conv
eni
encesampl
i
ngmet
hodwasadopt
ed.

SAMPLESI
ZE:

St
udywasbasedonasur
veyof50i
nvest
ors.

DATAREPRESNATATI
ON:

1.Hi
stogr
am

2.Pi
echar
t

3.Tabl
e

SAMPLI
NGAREA

Duet
othef
actt
hatTRUSTLI
NEBr
anchOf
fi
cei
slocat
edi
nAl
i
gar
h.The
sampl
ear
easel
ect
edf
ort
hef
ulf
il
lmentoft
hepr
ojecti
sAl
i
gar
hregi
on.

CHAPTER4

50|
Page
COMPARATI
VEDATAANALYSI
S

THEMAJORPLAYERSI
NONLI
NETRADI
NG

1)SHAREKHAN

2)RELI
GARE

3)KARVY

4)I
CICIDI
RECT

5)TRUSTKI
NE

SHAREKHAN

Shar ekhani st hel argeststandal

oner et
ailbr
okerageinthecount r
yandthe
thirdl argesti nt erms ofcust omerbase af terICICIDirectand HDFC
[
1][
2][
3][
4]
Secur i
ties .Sharekhani soneoft hepioneersofonl i
net radi
ngin
India.I
tof fersabr oadrangeoff inanci
alproductsandser vicesincl
udi
ng
secur i
tiesbr oker age,mut ualfunddistr
ibuti
on,loanagainstshares,ESOP
financing,IPOf inancingandweal t
hmanagement .

Shar
ekhan 
i
sonl
i
nest
ockt
radi
ngcompanyofSSKIGr
oup,
prov
iderofI
ndi
a

51|
Page
basedi
nvest
mentbanki
ngandcor
por
atef
inanceser
vice.Shar
ekhani
sone
oft
hel
argestst
ockbr
oki
nghousesi
nthecount
ry.S.
S.Kant
il
alI
shwar
lal
Secur
it
iesLi
mit
ed(
SSKI
)hasbeenamongI
ndi
a’
sleadi
ngbr
oki
nghouses
f
ormor
ethanacent
ury
.

Shar
ekhan‘
sequi
tyr
elat
edser
vicesi
ncl
udet
radeexecut
iononBSE,NSE,
Der
ivat
ives, Commodi
ti
es, Deposi
tor
y Ser
vices, Onl
i
ne Tr
adi
ng and
I
nvest
mentAdv
ice.Tr
adi
ng i
s av
ail
abl
ein BSE and NSE.Al
ong wi
th
Shar
ekhan.
com websi
te.Thecompanywasf
oundedi
nFebr
uar
y2000by
ent
repr
eneur
 Shr
ipalMor
akhi
a.Shar
ekhan i
sranked 2nd l
argestst
ock
br
okerpor
tal
andhasi
tsbr
anchesi
n575ci
ti
esi
nIndi
a.

Shar
ekhanhasst
ateofar
twebpor
talpr
ovi
dingf
undament
alandst
ati
sti
cal
i
nfor
mat
ionacr
ossequi
ty,mut
ualf
undsandI
POs.Youcansur
facr
oss
5,
500compani
esf
oei
n-dept
hinf
ormat
ion,det
ail
saboutmor
ethan1,
500
mut
ualf
undschemesandI
PO dat
a.Youcanal
soaccessot
hermar
ket
r
elat
ed det
ail
s such as boar
d meet
ings,r
esul
t announcement
s,FI
I
t
ransact
ions,
buy
ing/
sel
l
ingbymut
ual
fundsandmuchmor
e.

52|
Page
1. RELI
GARESECURI
TIES

Rel
i
gar
eSecur
it
iesLt
d.i
saRanbaxypr
omot
ergr
oupcompany
,isoneof
I
ndi
a’
slar
gestandf
ast
estgr
owi
ngi
ntegr
atedf
inanci
alser
vicesi
nst
it
uti
on.
Thecompanyof
fer
sal
argeanddi
ver
sebouquetofser
vicesr
angi
ngf
rom
equi
ti
es,commodi
ti
es,i
nsur
ance br
oki
ng,t
o wel
ladv
isor
y,por
tfol
i
o
managementser
vices,per
sonalf
inanceser
vice,I
nvest
mentbanki
ngand
i
nst
it
uti
onal
broki
ngser
vices.

Rel
i
gar
e Ent
erpr
isesLi
mit
ed(
REL)i
sthehol
dingcompanyf
oroneofI
ndi
a'
s
l
eadi
ngdi
ver
sif
iedf
inanci
alser
vicesgr
oups,headquar
ter
edi
n New Del
hi,
I
ndi
a.I
tof
fer
s an i
ntegr
ated sui
te off
inanci
alser
vices t
hrough i
ts
under
lyi
ngsubsi
diar
iesandoper
ati
ngent
it
ies,i
ncl
udesLoanst
o Smal
land
Medi
um Ent
erpr
ises 
(SME)
's,Capi
talMar
ket
s,Weal
thManagement
, 
Heal
th
i
nsur
ance 
andAssetManagement
.Ithasonemi
l
li
oncl
i
ent
sinI
ndi
aand
mor
ethan1700of
fi
cesacr
ossI
ndi
a. 
Rel
i
gar
eal
sohasof
fi
cesi
n Hong
Kong,
 
Singapor
e, t
he 
Uni
ted St
ates, t
he 
Uni
ted Ki
ngdom,
 
Aust
ral
i
a,
t
he 
Middl
eEast
 and 
Sri
Lanka.

Uni
quef
eat
uresandbenef
it
soft
radi
ngt
hroughRel
i
gar
e:

 Tr
adeRewar
d–Tr
adeRewar
dsi
sauni
queof
fer
ingf
rom Rel
i
gar
e
t
hatgi
vey
oudualbenef
it
sofhassl
efr
eei
nvest
mentexper
ience
onl
i
neandoppor
tuni
ti
est
oear
nwhi
l
eyoui
nvest
.
53|
Page
  Zer
oBr
oker
age–“
Breakt
heshackl
es”Getf
reedom f
rom br
oker
age
andav
ail
zer
obr
oker
ageony
ourt
ri
ckst
hroughus.

 Exposur
eupt
o20t
imesony
ourmar
gin–Al
l
owi
ngy
out
hef
reedom
t
otr
adewi
thouthassl
ethr
oughoutt
hedaywi
thouthav
ingt
owor
ry
abouty
ourcashmar
gin.Youcangetexposur
e(oncashsegment
)as
hi
ghas20t
imesf
ori
ntr
adayt
rade.Ofcour
seappl
yonabov
etwo.

I
nter
estoncashmar
gin–Ev
enwhi
l
eyouar
ewai
ti
ngt
omakey
our
nextt
radeoronl
i
nei
nvest
ment
,yourunut
il
izedcashdoesnotl
i
eideal
wi
thus.Youear
nint
erestony
ourunut
il
izedcashmar
gin.

2. KARVY

Par
ti
cipanti
nIndi
a,r
egi
ster
ed wi
th NSDL and CDSL.Kar
vyComt
rade,
MemberofNCDEXandMCXr
anksamongt
het
op3commodi
tybr
oker
sin
t
hecount
ry.Kar
vyI
nsur
anceBr
oki
ngLi
mit
edi
sregi
ster
edasaBr
okerwi
th
I
RDA and r
anks among t
he t
op 5 i
nsur
ance agent
sint
he count
ry.
Regi
ster
edwi
thAMFIasacor
por
ateAgent
,Kar
vyi
sal
soamongt
het
op
Mut
ualFund mobi
l
izerwi
thov
erRs.5,
000 cr
oresundermanagement
.
Kar
vyReal
ty(
Indi
a)Li
mit
ed,whi
chst
art
edi
n2006,hasqui
ckl
yest
abl
i
shed

54|
Page
i
tsel
fasabr
okerwhoaddsv
alue,i
nther
eal
tysect
or.Kar
vyGl
obalof
fer
s
ni
cheof
fshor
ingser
vicest
ocl
i
ent
sint
heUS.Kar
vyhas575of
fi
cesov
er
375l
ocat
ionsacr
ossI
ndi
aandov
erseasatDubaiandNewYor
k.TheKar
vy
gr
oupwasf
ormedi
n1983atHy
der
abad,
Indi
a.Kar
vyr
anksamongt
het
op
pl
ayeri
nal
mostal
lthef
iel
dsi
toper
ates.Kar
vyComput
ershar
eLi
mit
edi
s
I
ndi
a’
slar
gestRegi
str
arandTr
ansf
erAgentwi
thacl
i
entbaseofnear
ly500
bl
uechi
p cor
por
ates,managi
ng ov
er70 mi
l
li
onaccount
s.Kar
vySt
ock
Br
oki
ngLi
mit
ed,amemberofNat
ionalSt
ockExchangeofI
ndi
aandt
he
BombaySt
ockExchange,r
anksamongt
het
op5st
ockbr
oker
sinI
ndi
a.
Wi
thov
er6,
00,
000act
iveaccount
s,i
tranksamongt
het
op5Deposi
tor
y
Kar
vycov
erst
heent
ir
espect
rum off
inanci
alser
vices,v
izst
ockbr
oki
ng,
deposi
tor
ypar
ti
cipant
,di
str
ibut
ionoff
inanci
alpr
oduct
s(i
ncl
udi
ngmut
ual
f
unds,bondsandf
ixeddeposi
ts)
,commodi
ti
esbr
oki
ng,per
sonalf
inance
adv
isor
y ser
vices, mer
chant banki
ng & cor
por
ate f
inance, weal
th
management
,NBFC,
 
amongot
her
s.

The Gr
oup i
s pr
ofessi
onal
l
y managed and r
anks among t
he besti
n
t
echnol
ogy
,oper
ati
onsandr
esear
chacr
osst
hef
inanci
ali
ndust
ry.
 The
Kar
vyGr
ouphasev
olv
edov
ert
hel
astt
hree 
decadesandt
odayi
tassumes
manyav
atar
s.Br
oadl
ythegr
ouppur
suest
wo 
l
inesofbusi
nessesandcan
begr
aphi
cal
l
yrepr
esent
edasf
oll
ows:
 

 
Financi
alSer
vice:

55|
Page
  Equi
tyBr
oki
ng.
 Deposi
tor
yPar
ti
cipant
.
 Weal
thManagement
.
 Commodi
ti
esBr
oki
ng.
 Cur
rencyDer
ivat
ives.
 Non-
banki
ngFi
nanci
alSer
vices.
 Di
str
ibut
ionofFi
nanci
alPr
oduct
s.
 Real
ty.
 Regi
str
ySer
vicesf
orCor
por
ateandMut
ual
Funds.

3. I
CICI

I
CICIBank 
(I
ndust
ri
alCr
edi
tand I
nvest
mentCor
por
ati
on ofI
ndi
a)i
s
an 
Indi
an 
mul
ti
nat
ional
 
banki
ng 
and 
fi
nanci
alser
vices 
company
 Mumbai
,
 M
ahar
asht
ra,
 
Indi
a,wi
thi
tsr
egi
ster
edof
fi
cei
n Vadodar
a.I
n2014,i
twast
he
secondl
argestbanki
nIndi
aint
ermsofasset
sandt
hir
dint
erm of
 mar
ket
capi
tal
i
sat
ion.I
tof
fer
sawi
der
angeofbanki
ngpr
oduct
sandf
inanci
al
ser
vicesf
orcor
por
ateand 
ret
ailcust
omer
s t
hroughav
ari
etyofdel
i
ver
y
channel
s and speci
ali
sed subsi
diar
ies i
n t
he ar
eas of
 i
nvest
ment
banki
ng,
 
li
fe,
 
non-
li
fei
nsur
ance,
 
vent
ure capi
tal
 
and 
asset management
.
Thebankhasanet
wor
kof4,
450br
anches 
and13,
995ATMs 
i
nIndi
a,and
hasapr
esencei
n19count
ri
esi
ncl
udi
ngI
ndi
a.

56|
Page
I
CICIDi
rect(
orI
CICIDi
rect
.com)i
sst
ockt
radi
ngI
CICIBank.Al
ongwi
th
st
ockt
radi
ngandt
radi
ngi
nder
ivat
ivesi
nBSEandNSE,i
tal
sopr
ovi
des
f
aci
l
ityt
oinv
estI
POs,
Mut
ual
FundsandBonds.

I
CICIDi
rectof
fer
s3di
ff
erentonl
i
net
radi
ngpl
atf
ormst
oit
scust
omer
s.

1.Shar
eTr
adi
ngAccount
:

Shar
eTr
adi
ngAccountbyI
CICIDi
recti
smai
nlyf
orbuy
ingandsel
l
ing
ofst
ocksi
nBSEandNSE.Thi
saccountal
l
owsCashTr
adi
ng,Mar
gin
Tr
adi
ng.Mar
gin Pl
us Tr
adi
ng.SpotTr
adi
ng,BuyTodayand Sel
l
Tomor
rowandCal
landTr
adeonphone.Theyal
sopr
ovi
dei
nst
all
abl
e
appl
i
cat
iont
ermi
nal
basedappl
i
cat
ionf
orhi
ghv
olumet
rader
.

2.Wi
seI
nvest
mentAccount
:

Al
ongwi
thMFandI
POi
nvest
ingi
nBSEandNSE,Wi
seI
nvest
ment
Accountal
sopr
ovi
deopt
ionst
oinv
esti
nMut
ualFunds,19Mut
ual
Fundcompani
esandBonds.I
CICIDi
rectof
fer
svar
iousopt
ionwhi
l
e
i
nvest
ingi
nMut
ualFundsl
i
kePur
chaseMut
ualFundsRedempt
ion
and swi
tch bet
ween schemes, Sy
stemat
ic I
nvest
ment pl
ans,
Sy
stemat
icwi
thdr
awalpl
ansandt
ransf
err
ingexi
sti
ngMut
ualFund
i
nto el
ect
roni
c mode.Thi
s accountpr
ovi
des f
aci
l
ityt
oinv
esti
n
Gov
ernmentofI
ndi
aBondsandI
CICIBankTaxSav
ingBonds.I
CICI
Di
rect
.com websi
tei
sthepr
imar
ytoolt
oinv
esti
nMut
ualFund,
IPOs,
Bondsandst
ockt
radi
ng.

57|
Page
 3.Act
iveTr
aderAccount
:

Act
iveTr
aderaccountgi
vesmor
eper
sonal
i
zedi
nvest
mentopt
iont
o
t
hei
nvest
ors.I
tal
l
owsi
nvest
ort
ouseonl
i
neandof
fl
inest
ockt
radi
ng.
I
tal
so pr
ovi
des wi
thi
ndependentmar
ketexper
ti
se and suppor
t
t
hroughadedi
cat
edRel
ati
onshi
pManagerf
rom I
CICI
.Act
ivet
rader
al
sopr
ovi
descommodi
tyt
radi
ng.

Adv
ant
agesofI
CICIDi
rect
:
 3-
in-
1accounti
ntegr
atey
ourbanki
ng,
broki
nganddemataccount
.Al
l
account
sfr
om I
CICIandv
erywel
lint
egr
ated.Thi
sfeat
uremakes
I
CICIt
hemosti
nter
est
ingpl
ayeri
nonl
i
net
radi
ngf
aci
l
ity
.
 Unl
i
kemostoft
heonl
i
net
radi
ngcompani
esi
nIndi
awhi
chr
equi
re
t
ransf
err
ing money t
othe br
oker
’s poolor t
owar
ds deposi
ts,
I
CICI
Dir
ectdeposi
tsy
ou can managey
ourown dematand bank
accountt
hroughI
CICI
Dir
ect
.com.

I
nvest
mentonl
i
nei
nIPOs,Mut
ualFunds,GOIBonds,Post
alsav
ing
schemesal
lfr
om onewebsi
te.Gener
alI
nsur
ancei
sal
soav
ail
abl
e
f
rom I
CICILombar
d.

 Tr
adi
ngi
sav
ail
abl
einbot
hNSEandBSE.

Di
sadv
ant
agesofI
CICIDi
rect
:
 Get
ti
ngaccesst
oICI
CIDi
rect
.com websi
tedur
ingmar
ketsessi
on
canbef
rust
rat
ing.

58|
Page
 I
CICIDi
rectbr
oker
agei
shi
ghandnotnegot
iabl
e.

 Notal
lst
ocksar
eav
ail
abl
eMar
ginPl
us.

 Faci
l
ityf
orl
i
nki
ngaccountofI
CICIBankOnl
y.

Ont
hebasi
soff
oll
owi
ngf
act
orscompar
isonhasbeendone:

Br
okerFees/
Char
ge

Tr
adi
ngAccountopeni
ngf
ees:TheBr
okerchar
gesanaccountopeni
ngf
ee
t
oopenanewShar
eTr
adi
ngaccount
.Theaccountopeni
ngf
eei
sgener
all
y
di
ff
erentf
ordi
ff
erentt
ypesofaccount
.Thi
sfeei
sNon-
ref
undabl
e.
Tr
adi
ngAccountAMC:Thebr
okerchar
gesanaccountmai
ntenancef
ee;
al
socal
l
edasAnnualMai
ntenanceFee(
AMC)f
ort
radi
ngaccount
.Thi
sfee
i
spay
abl
eyear
lyi
rr
espect
ivet
otheusesoft
heaccount
.Iti
saut
omat
ical
l
y
deduct
edf
rom y
ouraccount
.
DematAccountopeni
ngf
ees:Thebr
okerchar
gesDemataccountopeni
ng
f
eewhent
henewDemataccounti
sopened.
Demata/
cAMC:Thebr
okerchar
gesaDemata/
cMai
ntenancef
eeal
so
cal
l
eddematannualmai
ntenancef
ee(
AMC)f
orDemata/
c.TheDemat
AMCi
schar
gedquar
ter
lyandi
nmostcasesaut
omat
ical
l
ydeduct
edf
rom

59|
Page
y
ouraccount
.

Tr
adi
ngBr
oker
ageChar
ges:

Equi
tyDel
i
ver
ybr
oker
age:Br
oker
ageschar
gedf
orbuyandsel
lor
der
sin
t
hecashsegmentwhent
het
ransact
ioni
sset
tl
edbydel
i
ver
y.
Equi
tyI
ntr
adayBr
oker
age:Br
oker
ageschar
gedf
orbuyandsel
lor
der
sin
t
hecashsegmentwhent
ransact
ioni
ssquar
edof
font
hesameday
.
Commodi
tyTr
adi
ngBr
oker
age:
Broker
ageschar
gedf
orcommodi
tyt
radi
ng.

Tr
ansact
ionChar
ges:

Equi
tyDel
i
ver
yChar
ges:
Transact
ionchar
gesf
orequi
tydel
i
ver
ytr
adi
ng.
Equi
tyI
ntr
adayChar
ges:
Transact
ionchar
gesf
orequi
tyi
ntr
adayt
radi
ng.
Commodi
tyChar
ges:
Transact
ionchar
gesf
orequi
tycommodi
tyt
radi
ng

I
nvest
mentOpt
ionsAv
ail
abl
e

St
ock/
Equi
ty:Br
okeral
l
owsi
nvest
mentandt
radi
ngi
nst
ockswhi
char
eli
stedi
nthe
st
ockexchangewher
ethebr
okerhasmember
shi
p.
Commodi
ty:
Brokeral
l
owsi
nvest
mentandt
radi
ngi
nequi
ty.

Cur
rency
:Br
okeral
l
owsi
nvest
mentandt
radi
ngi
ncur
rency
.

Mut
ual
Funds:Br
okeral
l
owsi
nvest
mentandt
radi
ngi
nmut
ual
funds.

Bond/
NCD:Br
okeral
l
owsi
nvest
mentandt
radei
nBond/
NCD.

60|
Page
Br
okerFeat
ure

3-
in-
1 Account
:Br
okerof
fer
s 3-
in-
1accounti
ncl
udi
ng t
radi
ng account
,
demataccountandbanki
ngaccount
.The3-
in-
1accounti
smakei
sver
y
easyf
orbegi
nner
sandcasual
inv
est
ors.
Mobi
l
eTr
adi
ng:
Brokerof
fer
smobi
l
etr
adi
ngpl
atf
orm.
Aut
omat
ed Tr
adi
ng:Br
okerwho of
fer
s sof
twar
eforaut
omat
ed onl
i
ne
t
radi
ngt
oit
scust
omer
s.Aut
omat
edi
sal
soknownasr
obot
ict
radi
ngor
comput
ert
radi
ngorpr
ogr
am t
radi
ng.
Char
ti
ng:Br
okerof
fer
sbasi
cchar
tsandt
echni
calchar
tsofst
ockand
commodi
ti
esoni
tspor
talandt
radi
ngt
ermi
nal
s.Thi
sonl
i
nechar
tshel
pin
t
echni
cal
anal
ysi
s.
SMSAl
ert
s:Br
okersendsSMSal
ert
sformaj
ort
ransact
ions.
Tol
lFr
eeNo.:
Brokerpr
ovi
dest
oll
freeno.f
orcust
omersuppor
t.

Onl
i
net
radi
ngt
ool
sandpl
atf
orms:
Compar
isonhasal
sobeendoneont
hebasi
sofabsenceandpr
esenceof
v
ari
ousonl
i
net
radi
ngt
ool
sandonl
i
net
radi
ngpl
atf
orms.Theset
ool
smake
onl
i
net
radi
ngmuchsi
mpl
erandhel
ptogai
ntechni
calknowl
edget
hrough
r
esear
chr
epor
ts,t
rai
ningcel
l
sandhel
pinv
est
orst
opr
edi
ctt
hef
utur
e
st
ockpr
ices.

61|
Page
 COMPARI
SONONTHEBASI
SOFBROKERAGEFEE

TABLE1

CRI
TERI
ON DEMAT
TRADI
NG
NG A/
TRADI C DEMAT
A/C A/C MI
NIMUM
A/
C OPENING
AMC
OPENING BROKERAGE
Rs) FEES(
AMC( Rs)
(Rs)
FEES(
Rs)
BROKI
NG

62|
Page
FI
RMS

SHARE
NI
L NI
L 750 400
KHAN

RELI
GARE NI
L NI
L 500 300

TRUSTLI
NE
NI
L NI
L 500 360
SECURI
TIES

KARVY NI
L NI
L NI
L 500

I
CICI
NI
L NI
L 975 600
DI
RECT

Dif
ferentst
ockcompani
eshaveit
sownbr okerfees.Tabl
e1shows
thatKarvyisonlyonecompanywhodoesnotchar getheDemataccount
openingfeesascompari
sontoother
scompani
es.OnlyICICIDi
recthast
he
highestf
eesov er
all
ascompar
isontoot
her
s.

TABLE2

TRADI
NGBROKERAGECHARGES

63|
Page
CRI
TERI
O
N EQUITY EQUI
TY
EQUI
TY FUTURE OPTI
ONS COMMODI
EQUITY
I
NTRADAY BROKERA BROKERA TY
DELI
VERY
GE GE
BROKERAGE BROKERAGE BROKERA
(%) (%) (
%) (RS PER GE
BROKI
NG LOT)
FI
RMS

SHARE
0.
10 0.
50 0.
10 100 0.
10
KHAN

RELI
GAR
0.
05 0.
50 0.
05 70 0.
05
E

TRUSTLI
NE
0.
02 0.
20 0.
02 75 0.
01
SECURI
TI
ES

KARVY 0.
03 0.
30 0.
03 50 0.
03

I
CICI
0.
07 0.
55 0.
05-
0.03 95-
35 N/
A
DI
RECT

Tabl
e2showst
hatt
radi
ngbr
oker
agechar
gesofdi
ff
erentcompani
es.Onl
y
Tr
ust
li
ne has char
ged t
he mi
nimum t
radi
ng br
oker
age char
ges as
compar
isont
oot
her
sbr
oki
ngcompani
es.

64|
Page
 TABLE3

TRANSACTI
ONCHARGES

CRI
TERI
O EQUITY
N FUTURE EQUI
TY
EQUITY EQUITY
I
NTRADAY DELI BROKERA OPTI
ONS COMMODI
VERY
GE BROKERA TY
BROKERA BROK ERA
GE
GE GE (%) BROKERAG
(RS PER E
(%) (%)
BROKI
NG LOT
FI
RMS

SHARE
0.
00325 0.
00325 0.
0019 0.
05 0.
0023
KHAN

0.
06 on
RELI
GARE 0.
0037 0.
0037 0.
004 0.
0035
pr
emi
um

TRUSTLI
N
E 0.
05on
0.
00325 0.
00325 0.
002 0.
003
SECURI
TI pr
emi
um
ES

0.
055on
KARVY 0.
00325 0.
00325 0.
0023 0.
003
pr
emi
um

I
CICI 0.
05on
0.
0031 0.
0031 0.
0018 N/
A
DI
RECT pr
emi
um

65|
Page
I
nTabl
e3t
hemai
nlycompani
eshav
ethesamet
ransact
ionschar
gesbut
I
CICIDi
recthaschar
ged t
he mi
nimum br
oker
age onl
yint
ransact
ions
char
gesascompar
etoot
hercompani
es.

TABLE4

I
NVESTMENTOPTI
ONSAVAI
LABLE

CRI
TERI
ON

CURR-
STOCK COMM- MUTUAL
ECNY BONDS
/EQUI
TY ODI
TY FUNDS

BROKI
NG
FI
RMS

SHARE
YES YES YES YES YES
KHAN

RELI
GARE YES YES YES YES YES

TRUSTLI
NE
YES YES YES YES YES
SECURI
TIES

KARVY YES YES YES YES YES

66|
Page
I
CICI
YES NO YES YES YES
DI
RECT

Tabl
e4showst hatdif
ferenti
nvest
mentopti
onsprovi
dedbythebroking
compani
es.Butonl
yICICIDir
ectdoesnotpr
ovi
dethecommodityser
vices
ascompari
sontoot
herstockbroki
ngfi
rmsbecauseofi
tsownr
easons

67|
Page
TABLE5

BROKERFEATURES

CRI
TERI
ON

SMS
3-
IN- MOBILE CHARTI
NG AUTOMATED TOLL
ALERTS
A/
C TRADING TRADI
NG FREENO
SERVI
CE
BROKI
NG
FI
RMS

SHARE
NO YES YES NO YES YES
KHAN

RELI
GARE NO YES YES NO YES YES

TRUSTLI
NE
NO YES YES NO YES YES
SECURI
TIES

KARVY NO YES YES NO YES YES

I
CICI
YES YES YES NO NO YES
DI
RECT

Thebrokingcompani eshavet hedi

ffer
entf
eat
ureswhi
chisprov
idedtoi
ts
cust
omer s.Tabl
e5showsI CI CIDir
ecthast
he3in1accountf
eaturewhi
ch
i
snotpr ovidedbyt heothercompani esbuti
thasnotprovi
dedthesms
al
ertwhichisprovi
dedbyot hers

68|
Page
69|
Page
SHAREKHAN

ONLI
NETRADI
NGPLATFORM

TRADETI
GER

SHAREKHANONLI
NETRADI
NGTOOLS

 Onl
i
neKnowl
edgecent
re;
lear
ntot
rade.

 Onl
i
neAct
ivet
rai
ningcel
l
.

 Onl
i
ner
esear
chr
epor
ts.

 Onl
i
nemar
ketst
ati
sti
cs.

 For
tunef
inder
.

 Pat
ter
nfi
nder
.

 Onl
i
nesof
twar
edemof
aci
l
ity
.

 Adv
icel
i
ne.

70|
Page
  SMSal
ert
s.

 Tol
lfr
eeno.

 Li
vechat
.

Tr
ust
li
ne

Onl
i
neTr
adi
ngPl
atf
orm(
TrustPower
)

Onl
i
neTr
adi
ngTool
s

 WebbasedTr
adi
ng/
deposi
tor
ybackof
fi
ce-t
ovi
ew cont
ractnot
es
andl
edgerandr
epor
ts.

71|
Page
  Onl
i
ner
ecommendat
ions(
Mar
ketChar
cha)
.

 Onl
i
ner
esear
chr
epor
ts.

 Remot
esuppor
t.

 Cov
eror
der
-hi
ghl
ever
agesav
ail
abl
e.

 Appl
i
cat
iont
racker
.

 SMSal
ert
s.

Tol
lfr
eeno.

72|
Page
Kar
vy

Onl
i
neTr
adi
ngPl
atf
orm

Onl
i
neTr
adi
ngTool
s

 Equi
tyov
erv
iewchar
t.

 Wor
ldi
ndi
ces.

 Onl
i
ner
esear
chr
epor
ts.

 Onl
i
needucat
ion.

 Onl
i
nef
inanci
alcal
cul
ator
s.

 Askt
heexper
tfaci
l
ity
.
73|
Page
  Aut
omat
edt
radi
ng.

 SMSal
ert
s.

 Onl
i
nedemo.

Rel
i
gar
e

Onl
i
neTr
adi
ngPl
atf
orm(
TRADEONTHEGO)

Onl
i
neTr
adi
ngTool
s

 Onl
i
nedet
ail
edr
esear
chr
epor
ts.

 Lear
ntot
rade.

 Exper
tspeak.

 Onl
i
nef
inanci
alcal
cul
ator
s.

74|
Page
 Onl
i
nesmar
tchar
tsf
orr
eal
timeanal
ysi
s.

 St
ockcompar
isont
ool
.

 St
ockscr
eener
.

 Onl
i
nemar
ketwat
ch(
Indi
anandwor
ldi
ndi
ces)
.

 SMSal
ert
s.

 Onl
i
nedemo.

75|
Page
I
CICIDI
RECT
ONLI
NETRADI
NGPLATFORM (
TRADERACER)

ONLI
NETRADI
NGTOOLS

 Onl
i
neSel
fhel
pvi
deos.

 Onl
i
nesemi
nar
s(webi
nar
s)t
oeducat
einv
est
ors.

 Exper
tSpeak.

 Resear
chr
ecommendat
ions.

76|
Page
 E-
lear
npr
ogr
ammes.

 Cl
assr
oom pr
ogr
ammes.

 E-
locker
.

 3i
n1account
.

 Onl
i
nedemo.

 SMSf
aci
l
ity
.

77|
Page
ANALYSI
SOFI
NVESTORBEHAVI
OUR

78|
Page
Q1:
Doy
oui
nvesti
nshar
emar
ket
?

a.Yes b.No

45 5

Summar
y:Outof50r
espondent
s,onl
y45t
hati
s90%i
nvesti
nshar
es.10%
oft
her
espondent
sdonoti
nvesti
nshar
emar
ket
.

Q2:
Inv
est
orpr
efer
encer
egar
dingt
hef
oll
owi
ngi
nvest
mentopt
ions:

a.Shar
emar
ket 28

b.BankFi
xedDeposi
t 17

c.Post Of
fi
ce Sav
ings 8

79|
Page
 Scheme

d.I
nsur
ance 11

e.Mut
ual
fund 23

f
.Commodi
tymar
ket 6

g.Real
est
ate 8

h.Anyot
her 1

Summar
y:Maxi
mum noofi
nvest
orst
hatar
e28outof50i
nvesti
nshar
e
mar
ketf
oll
owedbysecondhi
ghestt
hati
s23i
nmut
ualf
und.Leastno.of
i
nvest
orsi
nvesti
ncommodi
tymar
ketandot
hermodesofi
nvest
ment
.

Q3:
Modeofshar
etr
adi
ngpr
efer
redbyi
nvest
ors:

80|
Page
a.Onl
i
ne b.of
fl
ine

28 17

Summar
y:62%t
hati
s28outof50i
nvest
orspr
eferonl
i
nemodeoft
radi
ng
whi
l
eonl
y38%t
hati
sonl
y17i
nvest
orspr
eferof
fl
inemodeoft
radi
ng.

Q4:
Inv
est
orpr
efer
redShar
eBr
okerCompany
:

a.Tr
ust
li
ne 20

81|
Page
 b.I
CICIDi
rect 4

c.Rel
i
gar
e 4

d.Shar
ekhan 5

e.Kar
vy 10

f
.Ot
her
s 2

Summar
y:Si
nce t
he sampl
i
ng met
hod was based on conv
eni
ence,
t
her
efor
emostoft
her
espondent
swer
efr
om Tr
ust
li
nef
oll
owedbyKar
vy.
Leastno.ofr
espondent
swasf
rom I
CICI
,Rel
i
gar
eandot
hershar
ebr
oker
compani
es.

82|
Page
Q5:
Frequencyofi
nvest
menti
nshar
emar
ket
:

a.dai
l
y b.weekl
y c.mont
hly d.occasi
onal
l
y

14 5 10 16

Summar
y:Maxi
mum no.ofr
espondent
sthati
s16out0f50
i
nvestoccasi
onal
l
ywhi
l
eleastno.ofr
espondent
sinv
estonweekl
ybasi
s.

83|
Page
Q6:
Timeper
iodofi
nvest
ment
:

a.Less t
han b.1-
2year
s c.2-
3year
s d.Mor
ethan
1y
ear 3y
ear
s

16 10 3 16

Summar
y:36%oft
het
otalr
espondent
sar
ebei
ngi
nvest
ingi
nshar
emar
ket
si
ncel
ast3y
ear
swhi
l
e35%ar
enewt
otheshar
emar
ket
.Leastnoi
sbei
ng
i
nvest
ingsi
ncel
ast2-
3year
s.

84|
Page
Q7:
Amountofi
nvest
ment
:

a.Less t
han b.25000- c.50001- d.mor
e t
han
25000 50000 100000 100000

17 17 8 3

85|
Page
Summar
y:Maxi
mum no.ofr
espondent
sinv
estl
esst
hanRs.25000and
25000-
50000i
nshar
emar
ket
.Leastno.ofr
espondent
sthati
sonl
y3i
nvest
mor
ethan100000.

Q8:
Sour
cesofr
efer
ence:

a.r
efer
encebyf
ri
ends 12

b.onl
i
neadv
ert
isement
s 12

c.adv
icebyf
inanci
alconsul
tant
s 11

d.newschannel 5

e.anyot
her 5

86|
Page
Summar
y:Fr
iendsandOnl
i
neadsi
nducedmostoft
her
espondent
stogo
f
oronl
i
ne shar
etr
adi
ng whi
l
e 11 r
espondent
s gotr
efer
ence t
hrough
f
inanci
alconsul
tant
s.Onl
y10r
espondent
sgotr
efer
encet
hroughnews
channel
andot
hersour
ces.

Q:
9Pr
obl
em r
elat
edt
ochar
geschar
gedbyabr
oki
ngcompany
?

a.Br
oker
age 10

87|
Page
 b.Annual
Mai
ntenanceChar
ges 6

c.Openi
ngAccountChar
ges 2

d.Undi
scl
osedHi
ddenChar
ges 27

Summar
y:Maxi
mum no. of r
espondent
s hav
e pr
obl
em r
elat
ed t
o
undi
scl
osedchar
gesandbr
oker
agewhi
l
e6r
espondent
srel
atedt
oannual
mai
ntenancechar
ges.Onl
y2r
espondent
shav
epr
obl
em r
elat
edt
oopeni
ng
accountchar
geschar
gedbyt
hebr
oki
ngcompany
.

88|
Page
Q:
10Bi
ggestpr
obl
em associ
atedwi
thonl
i
neshar
etr
adi
ng?

a.Lackofpr
operknowl
edge 22

b.Lackofi
nter
netf
aci
l
ity 6

c.Unsat
isf
act
oryser
vicesofbr
oki
ngcompany 5

d.Ri
skanduncer
tai
ntyi
nshar
etr
adi
ng 12

Summar
y:Maxi
mum no.of r
espondent
s hav
ethe bi
ggestpr
obl
em
associ
atedwi
thonl
i
neshar
etr
adi
ngi
slackofpr
operknowl
edgei
.e.
49%
whi
l
eonl
y27% hav
eri
skanduncer
tai
ntyi
nshar
etr
adi
ng.Leastno.of
r
espondent
s hav
elack ofpr
operi
nter
netf
aci
l
ity and unsat
isf
act
ory
89|
Page
ser
vicespr
ovi
dedbyt
hebr
oki
ngcompany
.

Q:
11I
sonl
i
net
radi
ngsi
mpl
e?

a.St
rongl
yAgr
ee 8

b.Agr
ee 22

c.Nei
ther 8

d.Di
sagr
ee 6

e.St
rongl
yDi
sagr
ee 1

90|
Page
Summar
y:Maxi
mum no.ofr
espondent
sar
eagr
eei
.e.onl
i
net
radi
ngi
s
si
mpl
ewhi
l
erespondent
sofst
rongl
yagr
eeandnei
therar
esamei
.e.18%.
Leastno.ofr
espondent
si.
e.1i
sst
rongl
ydi
sagr
eeand6r
espondent
sar
e
al
sodi
sagr
eewi
tht
hat
.

Q:
12Sat
isf
act
ionl
evel
towar
dsser
vices?

a.St
rongl
ySat
isf
ied 8

b.Sat
isf
ied 19

c.Neut
ral 14

d.Di
ssat
isf
ied 0

e.Hi
ghl
ydi
ssat
isf
ied 4

91|
Page
Summar
y:Maxi
mum no.ofr
espondent
sar
esat
isf
iedt
owar
dsser
vices
pr
ovi
dedbyt
hebr
oki
ngcompanywhi
l
e14r
espondent
sar
eneut
ral
.Onl
y8
r
espondent
sar
ehi
ghl
ysat
isf
iedwhi
l
e4r
espondent
sar
ehi
ghl
ydi
ssat
isf
ied
butt
her
eisnor
espondentofdi
ssat
isf
iedt
owar
dsser
vices.

Q:
13Pr
imar
yobj
ect
iveofy
ouri
nvest
ment
?

a.Capi
tal
Appr
eci
ati
on 19

b.Sour
ceofI
ncome 14

c.Ret
ir
ementPl
anni
ng 6

92|
Page
 d.Weal
thPr
esent
ati
on 4

e.Educat
ionFundi
ng/Ot
her
s 2

Summar
y:The pr
imar
y obj
ect
ive ofi
nvest
mentofmaxi
mum no.of
i
nvest
orsar
ecapi
talappr
eci
ati
onandt
hensour
ceofi
ncomei
.e.42%and
31%.Leastno.ofi
nvest
orsi
nvest
mentobj
ect
ivear
eret
ir
ementpl
anni
ng
andweal
thpr
esent
ati
onbutonl
y2i
nvest
orsi
nvestf
oreducat
ionf
undi
ng
andot
her
s.

93|
Page
Q:
14Ageofi
nvest
ors?

a.Bel
ow30Year
s b.30-
50y
ear
s c.Abov
e50Year
s

13 28 9

Summar
y:Maxi
mum no.ofi
nvest
orshav
eagebet
ween30– 50y
ear
s
whi
l
ether
ear
eal
soy
oungi
nvest
orswhoseagebel
ow30y
ear
s.Leastno.
ofi
nvest
orshav
eanageabov
e50y
ear
s.

94|
Page
Q:
15I
nvest
orsi
ncome(
mont
hly
)?

a.Bel
ow10000 9

b.10000-
20000 9

c.20000-
30000 9

d.Abov
e30000 23

95|
Page
Summar
y:Maxi
mum no.ofr
espondent
shav
e ear
ned i
ncome mont
hly
abov
eRs30,
000whi
l
e8r
espondent
shav
eear
nedRs20,
000-
30,
000andRs
10,
000-
20,
000.
Onl
y8r
espondenthav
eear
nedbel
ow Rs10,
000outof50
r
espondent
s.

Q:
16I
nvest
orsoccupat
ion?

a.Job/
Empl
oyee 19

b.Busi
ness 14

c.St
udent 5

d.Ret
ir
ed 6

e.Pr
ofessor
/Teacher 4

f
.Housewi
fe 2

96|
Page
Summar
y: Maxi
mum no. of i
nvest
ors hav
e an occupat
ion as a
empl
oyee/
jobandt
henasbusi
nessman.Ther
ear
esomef
ew st
udent
s,
pr
ofessorandr
eti
redper
sonal
soi
nvesti
nshar
emar
ketwhi
l
ether
ear
e
al
so2housewi
fewhoi
nvestt
hem.

FI
NDI
NGS

 I
nasummar
y,t
hebr
oker
agei
ndust
ryhasamoder
atet
olow l
evelof
compet
it
iveadv
ant
age.Ther
eisal
ow l
evelofcust
omerl
ocki
nand
cust
omerwi
l
lmov
ehi
sorherbusi
nessi
fthebr
oker
ager
atesar
enot
compet
it
ivewi
thr
estoft
hei
ndust
ry.

97|
Page
 Ther
eisagr
owi
ngcompet
it
ionbet
weenbr
oker
agef
ir
msi
npostr
efor
m
I
ndi
a.Fori
nvest
orsi
t’
sal
way
sdi
ff
icul
ttodeci
dewhi
chbr
oker
agef
ir
m
t
ochoose.

 TRUSTLI
NESECURI
TIESi
saheadofal
lot
herpl
ayer
scompar
edwi
thi
n
pr
ovi
dingt
hebr
oker
ageser
vicesatmi
nimal
char
ges.

 TheDemata/
cAMC f
eesi
scompar
ati
vel
ylowerascompar
isont
o
ot
her
s.

 TRUSTLI
NESECURI
TIESf
acest
het
oughcompet
it
ionf
rom Kar
vyand
Rel
i
gar
e.

Compet
it
iveAdv
ant
ageofTRUSTLI
NESECURI
TIES:

 400+br
anchesf
orext
ensi
ver
each.

 Wi
der
angeofpr
oduct
sandser
vices.

 Lar
geav
enuesofi
nvest
mentsol
uti
onsandf
inanci
alser
vicesunder
oner
oof
.

 Oneoft
hebestt
radi
ngpl
atf
ormsi
nter
msofspeed;
conv
eni
enceand
r
iskmanagement
.

 Al
lki
ndofi
nvest
mentopt
ionsar
eav
ail
abl
e.

 Tr
adi
ng br
oker
age char
ges ar
e compar
ati
vel
ylow t
han ofot
her
pl
ayer
s.

 Uni
quef
eat
ureofCov
eror
der
-hi
ghl
ever
agesav
ail
abl
e.

98|
Page
 CONCLUSI
ON

Theonl
i
net
radi
ngi
sgr
owi
ngwi
thar
api
dpacewi
tht
her
isi
ngl
evelof
educat
ionamongt
hecust
omer
s.Theot
herf
act
orsbei
ngt
hatt
heI
ndi
an
I
nvest
ornowaday
swant
stodealhi
msel
fint
radi
ngr
athert
handependi
ng
uponot
hermi
ddl
emen.Theyal
soconsi
dert
hef
act
orsl
i
ket
imesav
ingi
n
doi
ngt
heonl
i
net
ransact
ions,conv
eni
enceet
c.al
thoughsomepeopl
ethat
onl
i
net
radi
ngi
snotsecur
ebutt
hepeopl
edoi
ngt
het
radi
ngonl
i
nei
shappy
aboutt
hei
ncr
easi
ngsecur
it
yconcer
nsamongt
hecompani
es.

They
ear2008hasnotbeensogoodf
ort
hest
ockmar
ketandt
he
SensexandNi
ft
yhasbeendi
ppi
ngandaf
fect
ingt
hebusi
nessnegat
ivi
tyf
or
t
hesecompani
esbutt
hesamet
rendr
ever
sedi
n2009–2010.Thi
sisdue
t
oopent
heDMATandTr
adi
ngaccount
s.Sot
hecompani
eshav
etor
educe
t
hei
raccountopeni
ngf
eest
oat
tr
actmor
eandmor
ecust
omer
s.Al
so
peopl
etr
adev
eryl
essi
nthebear
ishmar
ketandt
hecompany
’spr
ofi
ts
agai
nstbr
oker
agef
eessoar
sdownwar
ds.I
tbecomesv
eryl
ess.Al
sot
her
e
i
sani
ntensecompet
it
ionamongt
hecompani
esandt
hecompani
escame
up wi
th new and new pr
omot
ion schemes such as di
scount
ed and
negot
iabl
ebr
oker
ages,
Zer
obal
anceaccount
s,wai
vi
nga/
copeni
ngf
eeand
AMCet
c.Ast
hei
nter
netpenet
rat
ioni
sgr
owi
ngi
nIndi
athi
sbusi
nesshol
ds
ahugepot
ent
ial
forgr
owt
h.

Ont
hebasi
sofst
udyi
sfoundt
hatTr
ust
li
neSecur
it
iesi
sbet
ter
ser
vice pr
ovi
dert
han t
he ot
herst
ockbr
oker
sbecause oft
hei
rti
mel
y
r
esear
chandper
sonal
i
zedadv
iceonwhatt
hest
ockbuyandsel
l
.Tr
ust
li
ne
pr
ovi
det
hef
aci
l
ityofNESTaswel
lasr
elat
ionshi
pmanagerf
aci
l
ityf
or
encour
agementandpr
otectt
hei
nter
estoft
hei
nvest
ors.I
tal
sopr
ovi
des

99|
Page
t
hei
nfor
mat
iont
hrought
hei
nter
netandmobi
l
eal
ert
sthatwhatt
heI
POs
ar
ecomi
ngi
nthemar
ketandi
tal
sopr
ovi
desi
tsr
esear
chont
hef
utur
e
pr
ospectoft
heI
PO.

Nowi
ftheexi
sti
ngcompanywi
l
lhav
etocapt
uret
hemar
kett
heywi
l
l
hav
etol
ookf
ort
hei
nnov
ati
oni
nthei
rpr
oductaswel
lasser
vicemi
x.

Themant
raf
orsuccessi
nthecur
rentsi
tuat
ionwi
l
lbeeducat
ing t
he
cust
omer
saboutt
hebenef
it
sofonl
i
net
radi
ngandt
heamountofROIt
hat
canbegener
atedt
hroughi
t.

RECOMMENDATI
ONS

 The company shoul

d come up wi
th mor
e and mor
einnov
ati
ve
f
eat
uresi
nthei
rwebpor
tal
s.
 Thef
aci
l
ityoff
reedemonst
rat
ioncl
assesandal
soonl
i
nev
ideoof
cl
assesshoul
dbepr
ovi
dedf
oral
l
.
 Needt
oint
roducet
he3-
in-
1a/
ctr
adi
ngpl
atf
orm asi
tist
hemost
popul
art
radi
ngpl
atf
orm.
 The cust
omershoul
d be educat
ed r
egul
arl
yregar
ding t
he new
t
echnol
ogi
esandt
echni
quesoft
radi
ngonl
i
neandal
soot
herr
elev
ant
i
nfor
mat
ion.
 Needt
oint
roducemor
euni
quef
eat
uresi
nor
dert
ost
andouti
nthe
mar
ketl
i
keaut
omat
edt
radi
nget
c.
I
nor
dert
ogearupandt
obemor
ecust
omeror
ient
ed,
Trust
li
neneeds
t
omi
nimi
zei
tst
ransact
ionchar
ges.Thi
swi
l
lpr
ovi
dei
tacompet
it
ive

100|
Page
edgeov
eri
tscompet
it
ors.

101|
Page
 BI
BLI
OGRAPHY

BOOKS

FI
NANCI
ALSERVI
CES -KhanMY

MARKETI
NGRESEARCH -Nar
eshkmal
hot
ra&Dash

REFERENCES

 ht
tps:
//www.
shar
ekhan.
com

 ht
tp:
//www.
rel
i
gar
eonl
i
ne.
com/

 ht
tps:
//www.
kar
vy.
com/

 ht
tp:
//cont
ent
.i
cici
dir
ect
.com/
idi
rect
cont
ent
/Home/
Home.
aspx

 ht
tps:
//www.
tr
ust
li
ne.
in/

 ht
tps:
//nsdl
.co.
in/

 ht
tps:
//www.
cdsl
i
ndi
a.com/
index.
html

102|
Page
 QUESTI
ONNAI
RE
Dearr
espondent
,

Iam ast
udentofMBA.Iam wor
kingont
hepr
ojectofcompar
ati
vest
udyofv
ari
ous
st
ockbr
oki
ngf
ir
msandananal
ysi
sofi
nvest
orbehav
iourt
owar
dsonl
i
neshar
etr
adi
ng.
Youar
erequest
edt
ofi
l
lthef
oll
owi
ngquest
ionnai
ret
oenabl
emet
ounder
taket
he
st
udyont
hesai
dpr
oject
.

Q1.
Doy
oui
nvesti
nShar
eMar
ket
?

a.
)Yes

b.
)No

Q2.
Pleasemar
kyourpr
efer
encer
egar
dingt
hef
oll
owi
ngi
nvest
mentopt
ions:

a.
)Shar
eMar
ket

b.
)BankFi
xedDeposi
t

c.
)PostOf
fi
ceSav
ingsScheme

d.
)Insur
ance

e.
)Mut
ual
Fund

f
.)Commodi
tyMar
ket

g.
)Real
Est
ate

h.
)Anyot
her
,pl
easespeci
fy

Q3.
)Whi
chmodeofshar
etr
adi
ngi
spr
efer
redbyy
ou?

a.
)Onl
i
ne

b.
)Of
fl
ine

103|
Page
Q4.
)Pl
easement
iont
henameoft
heBr
oker
ingCompanyt
hroughwhi
chy
oui
nvesti
n
shar
es?

Q5.
)Howof
teny
oui
nvesti
nshar
es?

a.
)Dai
l
y

b.
)Weekl
y

c.
)Mont
hly

d.
)Occasi
onal
l
y

Q6.
)Forhowl
ongy
ouhav
ebeent
radi
ngi
nshar
emar
ket
?

a.
)Lesst
han1y
ear

b.
)1-
2year
s

c.
)2-
3year
s

d.
)Mor
ethan3y
ear
s

Q7.
)Whatamounty
oui
nvestnor
mal
l
yinshar
emar
ket
?

a.
)Lesst
han25000

b.
)25000-
50000

c.
)50001-
100000

d.
)Mor
ethan100000

Q8.
Whati
nducedy
out
ogof
oronl
i
neshar
etr
adi
ng?

a.
)Ref
erencebyFr
iends

b.
)Onl
i
neAdv
ert
isement
s

c.
)Adv
isebyFi
nanci
alConsul
tant
s

104|
Page
 d.
)Newschannel

e.
)Anyot
her
,pl
easespeci
fy

Q9.
)Whi
choft
hef
oll
owi
ngchar
ges,accor
dingt
oyou,char
gedbyt
hebr
oki
ngcompany
i
sapr
obl
em?(
Youcansel
ectmor
ethanoneopt
ion)

a.
)Br
oker
age

b.
)Annual
Mai
ntenanceChar
ges

c.
)Openi
ngAccountChar
ges

d.
)Undi
scl
osedhi
ddenchar
ges

Q10.
)I
nyouropi
nion,
whati
sthebi
ggestpr
obl
em associ
atedwi
thonl
i
neshar
etr
adi
ng?

a.
)Lackofpr
operknowl
edge

b.
)Lackofpr
operi
nter
netf
aci
l
ity

c.
)Unsat
isf
act
oryser
vicesofbr
oki
ngcompany

d.
)Ri
skanduncer
tai
ntyi
nshar
etr
adi
ng

Q11.
)Isonl
i
net
radi
ngsi
mpl
e?

a.
)Yes b.
)No

Q12.
)Mar
kyourl
evel
ofsat
isf
act
iont
owar
dsser
vicesofy
ourshar
ebr
oki
ngcompany
?

a.
)Hi
ghl
ysat
isf
ied

b.
)Sat
isf
ied

c.
)Neut
ral

d.
)Di
ssat
isf
ied

e.
)Hi
ghl
ydi
ssat
isf
ied

105|
Page
Q13:
Whati
sthepr
imar
yobj
ect
iveofy
ouri
nvest
ment
?

a.Capi
tal
appr
eci
ati
on

b.Sour
ceofi
ncome

c.Ret
ir
ementpl
anni
ng

d.Weal
thpr
esent
ati
on

e.ot
her
s

Occupat
ion:

Age:

a.
)Bel
ow30y
ear
s

b.
)30-
50y
ear
s

c.
)Abov
e50y
ear
s

Gender
:
a.
)Mal
e
b.
)Femal
e

I
ncome(
mont
hly
):

a.
)Bel
ow10000

b.
)10000-
20000

c.
)20000-
30000

d.
)Abov
e30000

THANKYOUFORYOURVALUABLERESPONSES.

106|
Page