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MARKETING OF FINANCIAL SERVICES PRODUCTS [RELIGARE SECURITIES LTD.]

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					                   AMITY GLOBAL BUSINESS SCHOOL,
                            AHMEDABAD




                   Summer Internship Project Report


                                   0n


         MARKETING OF FINANCIAL SERVICES PRODUCTS
                [RELIGARE SECURITIES LTD.]




       In partial fulfillment of Summer Training for M.B.A Program

                            ( 2010-2012}

SUBMITTED BY:

TUSHAR PATEL

ROLL NO: (60)

MBA

2009 -2011




SUBMITTED TO:

PROF KALIKA BANSAL




                                    1
                        AMITY GLOBAL BUSINESS SCHOOL,
                                 AHMEDABAD

                             ACKNOWLEDGEMENT

              I am thankful to the management of Religare securities limited for
permitting me to go through my summer training.

First and fore most I would like to thank my company guide Mr. chintan shah ( sales
manager) for his constant encouragement, guidance and advice at every stage of my
training. This project would not have been successfully completed without his great
support.

I am very much thankful to my college for their excellent guidance, support and
appreciation and he also provided me with this great opportunity to work in such a
reputed organization.

I express my sincere thanks to Prof. Kalika Bansal, Amity Global Business School,
Ahmadabad who helped me in understanding the project and the implementation of the
same. Her suggestions really helped me think on a broad perspective and give me
motivation to do my best. I would also like to thank Amity, Ahmadabad for helping and
supporting me for my Summer Internship Program at RELIGARE SECURITIES
LIMITED.




Date:

Place: - Ahmadabad                                                 TUSHAR
PATEL




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                        AMITY GLOBAL BUSINESS SCHOOL,
                                 AHMEDABAD

                                       PREFACE

           Indian Stock market is considered to be the one of the fastest growing as well
as most volatile market in the world. Sensex and Nifty has touched all time high and
created history. There are many factors which contributes such a drastic change in the
stock market. We can divide these factors in mainly three categories like economic
factors (These factors effect economy as a whole), industry specific factors (Such factors
related to the any industry specific event that can affect industry as a whole) and
company specific factors (These factors includes any such event or news about the
company which could affect its share price).

      During recent times many corporate actions has taken place which have
substantially affect the individual share price of the company. The actions taken by the
company is known as event. Such event includes Dividend Distribution, Bonus Issue,
Right Issue, Mergers & Acquisitions, and Stock Split etc. Event studies examine the
behavior of firms‟ stock prices around corporate events. A vast literature written over the
past several decades has become an important part of financial economics. Prior to that
time, the usefulness of event studies arises from the fact that the magnitude of abnormal
performance at the time of an event provides a measure of the (unanticipated) impact of
this type of event on the wealth of the firms‟ claimholders. Thus, event study provides
evidence relevant for understanding corporate policy decisions. In this research report we
try to study one of such corporate event and fry to find out its impact on that company
and investors.




                                               3
                          AMITY GLOBAL BUSINESS SCHOOL,
                                   AHMEDABAD

                                   CERTIFICATE




This is to certify that Mr. TUSHAR PATEL, M.B.A student of Amity Global Business School,
Ahmedabad has done research project on the topic “MARKETING OF FINANCIAL

SERVICES PRODUCT [RELIGARE SECURITIES LTD.]” He successfully
completed his project under my guidance. This project certifies the work of the candidate based
on actual survey of the concerned project.




Date:                                                       Prof. Kalika Bansal

Place: Ahmedabad                                                 (Faculty Guide)




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                            AMITY GLOBAL BUSINESS SCHOOL,
                                     AHMEDABAD

                                   EXECUTIVE SUMMARY

   This project has been a great learning experience for me; at the same time it gave me
   enough scope to implement our analytical ability. This project as a whole can be divided
   into two parts:

 The first part gives an insight about the importance of Demat account which is necessary
   for dealing in stock market. This part shows that the charges (Brokerage plans) for
   trading in the Religare securities limited. There are various schemes in this company
   according to the client‟s portfolio. This part is also include the comparative study of
   charges in other organization with respect to this company.
 However, the second part gives an insight about the importance of Fundamental analysis
   in the broking industry. It is also based on whatever I learned at collage and also I have
   gathered all information through internet. In narrow sense the fundamental analysis is
   more concern with such specific factors such as intrinsic value of the firm, etc.
   fundamental analysis is also a part of equity analysis which is generally done by the fund
   managers or institutional & professional advisors before they invest or gives the advice
   for investing in such stocks.
 Lastly the third part gives an insight about the importance of Technical analysis in the
   broking industry. It is purely based on whatever I learned at collage and also I have
   gathered all information through internet. In narrow sense these attitudes are related to
   the role under condition with such specific factors such as trend, or price & chart
   patterns, etc. Technical analysis is a part of equity analysis which is generally done by the
   fund managers or institutional & professional advisors before they invest or gives the
   advice for investing in such stocks




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                    AMITY GLOBAL BUSINESS SCHOOL,
                             AHMEDABAD

CONTENT
NO.                             TITLE               Pg. No.
 1.    ACKNOWLEDGEMENT                                 2
 2.    PREFACE                                         3

 3.    BODY REPORT
       Executive summery
                   Introduction of the company        7
       Research design                                8
       Objective of the study                         8
       Data collection

 4.     GROUP COMPANIES                               13
       features                                       18
       Key events and milestones                      22
       Vision and mission                             23
       Types of accounts                              28

 5.    INTRODUCTION TO COMMODITY MARKETS              33
       History of commodity trading                   37
       Leading commodities market in india            38
 6.    TYPES OF SHARES TRADING                        43

 7.    DATA ANALYSIS AND INTERPRETATION



 8.    FINDINGS AND CONCLUSION                        60
 9.    APPENDIX                                       61
 10.   BIBLIOGRAPHY                                   66


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                         AMITY GLOBAL BUSINESS SCHOOL,
                                  AHMEDABAD

                              Introduction of the company

Religare is a global financial services group with a presence across Asia, Africa, Middle
East, Europe and the Americas. Religare is promoted by the promoters of Ranbaxy
pharmaceuticals Limited. In India, Religare‟s largest market, the group offers a wide
array of products and services ranging from insurance, asset management, broking and
lending solutions to investment banking and wealth management. The group has also
pioneered the concept of investments in alternative asset classes such as arts and films.
With over 10,000 employees across multiple geographies, Religare serves over a million
clients, including corporate and institutions, high net worth families and individuals, and
retail investors. Religare operate from six regional offices and 25 sub-regional offices and
have a presence in 330 cities and towns controlling 979 locations which are managed
either directly by Religare or by our Business Associates all over India, the company
have a representative office in London. While the majority of Religare offices provide the
full complement of its services yet it has dedicated offices for investment banking,
institutional brokerage, portfolio management services and priority client services.

As on date the Company is empanelled with UTI, IDBI, IFCI, SBI, BOI-MF, Punjab
National Bank, PNB-MF, Oriental Insurance, GIC, UTI-Offshore, ICICI Can bank MF,
Punjab & Sind Bank, Pioneer ITI, SUN F&C, IDBI Principal, Prudential ICICI, ING
Baring and J M Mutual Fund.

RELIGARE was founded with the vision of providing integrated financial care driven by
the relationship of trust. The bouquet of services offered by RELIGARE includes
Broking (Stocks and Commodities), Depository Participant Service, Advisory on Mutual
Fund Investments and Portfolio Management Services.


RELIGARE is a pioneer in the concept of partnership to reach multiple locations in order
to effectively service its large base of individual clients. Besides the reach of
RELIGARE, the clients of the company greatly benefit by its strong research capability,
which encompasses fundamentals as well as technical knowledge.




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                    AMITY GLOBAL BUSINESS SCHOOL,
                             AHMEDABAD

                       RESEARCH DESIGN
  TITLE OF THE STUDY



            MARKETING of FINANCIAL SERVICES PRODUCTS

                    [ RELIGARE SECURITIES LTD. ]




  OBJECTIVES OF THE STUDY:

 Getting a knowledge about a demat account , trading account
  ,commodity ,equity ,Insurance plus investments.
 How to earn profit in positive and negative markets?
 To Study how to build a relationship marketing in Capital Market.?
 To study various financial products like Equity, Mutual Funds,
  Commodity& Portfolio management services.
 To Study the various services provided by Broker house to there
  clients.
 To study what other services investors expect from their broker
  house.




  DATA COLLECTION


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                           AMITY GLOBAL BUSINESS SCHOOL,
                                    AHMEDABAD

   Primary data

 Collected through Structured Questionnaire.

   Secondary data

 We had also made phone calls to the client to get accurate information for their
   investment.
 Another method to get the information was a direct approach in which we approached the
   clients and got a direct response from them.
 Discussions with the concerned by personal interview

   LIMITATIONS

 Client does not proper answer about an opening account
 Compare our product with other company product
 Fake lead is to be generated




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                        AMITY GLOBAL BUSINESS SCHOOL,
                                 AHMEDABAD

Activities of Religare Enterprises Limited




Religare Securities Limited                    Religare Finvest Limited

Equity Broking                                 Lending and Distribution business
Online Investment Portal                       Proposed Custodial business
Portfolio Management Services
Depository Services                            Religare Insurance Broking Limited

                                               Life Insurance
Religare Commodities Limited
                                               General Insurance
Commodity Broking                              Reinsurance


Religare Capital Markets Limited               Religare Arts Initiative Limited

Investment Banking                             Business of Art
Proposed Institutional Broking                 Gallery launched - arts-i


Religare Realty Limited                        Religare Venture Capital Limited

In house Real Estate Management Company        Private Equity and Investment Manager


Religare Hichens Harrison**                    Religare Asset Management*

Corporate Broking
Institutional Broking
Derivatives Sales
Corporate Finance




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                          AMITY GLOBAL BUSINESS SCHOOL,
                                   AHMEDABAD

Name

Religare is a Latin word that translates as 'to bind together'. This name has been chosen to
reflect the integrated nature of the financial services the company offers.

Symbol

The Religare name is paired with the symbol of a four-leaf clover. Traditionally, it is
considered good fortune to find a four-leaf clover as there is only one four-leaf clover for
every 10,000 three-leaf clovers found.

For us, each leaf of the clover has a special meaning. It is a symbol of Hope. Trust. Care.
Good Fortune.

For the world, it is the symbol of Religare.




For us, each leaf of the clover has a special meaning. It is a symbol of Hope. Trust.
Care. Good Fortune. For the world, it is the symbol of Religare.


         The first leaf of the clover represents Hope. The aspirations to succeed. The
         dream of becoming. Of new possibilities. It is the beginning of every step and
         the foundation on which a person reaches for the stars.

         The second leaf of the clover represents Trust. The ability to place one‟s own
         faith in another. To have a relationship as partners in a team. To accomplish a
         given goal with the balance that brings satisfaction to all, not in the binding, but
         in the bond that is built.

         The third leaf of the clover represents Care. The secret ingredient that is the
         cement in every relationship. The truth of feeling that underlines sincerity and
         the triumph of diligence in every aspect. From it springs true warmth of service
         and the ability to adapt to evolving environments with consideration to all.




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               AMITY GLOBAL BUSINESS SCHOOL,
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The fourth and final leaf of the clover represents Good Fortune. Signifying that
rare ability to meld opportunity and planning with circumstance to generate
those often looked for remunerative moments of success.

Hope. Trust. Care. Good Fortune. All elements perfectly combine in the
emblematic and rare, four-leaf clover to visually symbolize the values that bind
together and form the core of the Religare vision.




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                      AMITY GLOBAL BUSINESS SCHOOL,
                               AHMEDABAD

INTRODUCTION




                                   Religare Finvest
                                         Ltd               Religare Wealth
           Religare                                         Management
         Securities Ltd                                     Services Ltd


                                                                    Religare Capital
     Religare                                                        Markets Ltd
  Commodities Ltd                RELIGARE
                                ENTERPRISE
                                   LTD.                             Religare Finance
       Religare                                                            Ltd
  Insurance Broking
         Ltd


                    Religare Venture              Religare Realty
                     Capital Pvt Ltd                    Ltd




GROUP COMPANIES




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                           AMITY GLOBAL BUSINESS SCHOOL,
                                    AHMEDABAD

Religare Enterprises Limited group comprises of Religare Securities Limited, Religare
Commodities Limited, Religare Finvest Limited and Religare Insurance Broking Limited
which deal in equity, commodity and financial services business.

1. Religare Securities Limited

            RSL is one of the leading broking houses of India and are dealing into Equity
Broking, Depository Services, Portfolio Management Services, Internet Trading,
Institutional Equity Brokerage & Research, Investment Banking, Merchant Banking and
Corporate Finance.

To facilitate free and fare trading process Religare is a member of major financial
institutions like, National Stock Exchange of India, Bombay Stock Exchange of India,
Depository Participant with National Securities Depository Limited and Central
Depository Services (I) Limited, and a SEBI approved Portfolio Manager.

RSL serves a platform to all segments of investors to avail the opportunities offered by
investing in Indian equities either on their own or through managed funds in Portfolio
Management




2. Religare Commodities Limited

       Religare is a member of NCDEX and MCX and provides platform for trading in
commodities, which is an online facility also.




RCL provides platform to both agro and non-agro commodity traders to derive the actual
price of the commodity and also to trade and hedge actively in the growing commodity
trading market in India.

With this realization, Religare Commodities is coming up with its branches at mandi
locations. It is a flagship effort from our team which would be helpful in facilitating trade
and speculating price of commodities in future.



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                          AMITY GLOBAL BUSINESS SCHOOL,
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3. Religare Finvest

Religare Finvest Limited (RFL), a Non Banking Finance Company (NBFC) is
aggressively making a name in the

Financial services arena in India. In a fast paced, constantly changing dynamic business
environment, RFL has delivered the most competitive products and services.

RFL is primarily engaged in the business of providing finance against securities in the
secondary market. It also provides finance for application in Initial Public Offers to non-
retail clients in the primary market .

RFL is also planning to initiate personal loan portfolio as fund based activity and mutual
fund distribution as fee based activities.

Along with this, the company also undertakes non-fund based advisory operations in the
field of Corporate Financing in the nature of Credit Syndication which includes inter
alias, bills discounting, inter corporate deposit, working capital loan syndication,
placement of private equity and other structured products.

4. Religare Insurance Broking Ltd.

Religare has been taking care of financial services for long but there was a missing link.
Financial planning is incomplete without protective measure i.e. structured products to
take care of event of things that may go wrong

Religare Insurance Broking Limited. As composite insurance broker, deals in both
insurance and reinsurance, providing our clients risk transfer solutions on life and non-
life sides. This service will take benefit of Religare‟s vast business empire spread
throughout the country -- providing our valued clients insurance services across India.
We aim to have a wide reach with our services – literally! That‟s why we are catering the
insurance requirements of both retail and corporate segments with products of all the
insurance companies on life and non-life Still, there is more in store. We also cater




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                         AMITY GLOBAL BUSINESS SCHOOL,
                                  AHMEDABAD

individuals with a complete suite of insurance solutions, both life and general to mitigate
risks to life and assets through our existing network side.

For corporate clients, we will be offering value based customized solutions to cover all
risks, which their business is exposed to. Our clients will be supported by an operations
team equipped with the best of technology support

Religare Insurance Broking aims to provide neutral, transparent and professional risk
transfer advice to become the first choice of India




Why customer trade with Religare?

1. Personal Assistance

Dedicated dealers for facilitating trading and post trade needs.
Dedicated Relationship Managers for assisting multiple investments needs.



2. Research & Advisory

Regular news and updates on market

Research service over SMS to keep one
Daily and weekly technical reports
A complete information report on results and performance individual companies.
Complete reports on various economic sectors and their performance along with analysis
of few major companies in that sector
Trading calls in Futures & Options
Daily capsule of Market indices and index movement, national and international
corporate news, and their performance along with forth coming IPO tracker.



3. Add-Ons




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                        AMITY GLOBAL BUSINESS SCHOOL,
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Access to all your accounts through your Customer Relationship Number (CRN)
Access your ledger balances and account information over internet, branch and call
center



Interest on Cash Margin

Even while you are waiting to make your next trade or online investment, your unutilized
cash does not lie idle with us. You earn interest on your unutilized cash margin.

360 degree Investment Portal

Invest online in Equities, Commodities, Currency, IPO and Mutual Funds in a single
platform and maintain all your financial records at one place. Now, you can also file your
tax and book air tickets, make hotel reservations and buy attractive holiday packages, all
online. So get empowered, enrich your experience of investing online and open yourself
to a whole new world of possibilities for Religare Online will become Your World
Online, beyond investments!


Exposure upto 20 times* on your margin

Allowing you the freedom to trade without hassles throughout the day without having to
worry about your cash margin. You can get exposure (on cash segment) as high as 20
times for intraday trades.




FEATURES



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                         AMITY GLOBAL BUSINESS SCHOOL,
                                  AHMEDABAD

1. What is “Trade Rewards” ?
Trade Rewards* is a unique offering from Religare that gives you dual benefit of a hassle
free investment experience on the net as well as an opportunity to earn while you invest
with us.


So earn reward points each time you trade in Equities, Commodities & Currency
Derivatives or invest in your favorite IPOs online with us through highly sophisticated
and customized trading platform R-ACE (Religare Advanced Client Engine)


2. How are reward points calculated?
You will earn reward points as you trade/invest using Religare‟s online trading platform
R-ACE. The earned reward points can be redeemed against attractive gift vouchers and
offers.


3. How will I know how many reward points have I accumulated?
You can check the status of your accumulated reward points on your trading screen under
trading screen. A complete statement of transactions of your reward points can also be
viewed on trading screens.


4. How do I redeem my reward points?
The reward points accumulated by you can be redeemed using the "Redemption" option
in the Trade Reward section. You can redeem your reward points against our list of
attractive gift vouchers and offers.


5. How many points can I redeem ?
The points reflected against "Total Redeemable" option in the statement can be redeemed
at anytime. The redeemable points are calculated on the basis of previous months‟
transactions.


6. When will I get my gift?
Any redemption request received by Religare will be fulfilled in approximately two



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                        AMITY GLOBAL BUSINESS SCHOOL,
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weeks time from the date of receipt & delivery will be made at the address registered
with us. You can also track your shipments by using „Previous Redemption‟ option.




Redemption partners




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                      AMITY GLOBAL BUSINESS SCHOOL,
                               AHMEDABAD




Religare Securities Limited




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                         AMITY GLOBAL BUSINESS SCHOOL,
                                  AHMEDABAD

            Religare Securities Limited (RSL), a 100% subsidiary of Religare Enterprises
Limited is a leading equity and securities firm in India. The company currently handles
sizeable volumes traded on NSE and in the realm of online trading and investments; it
currently holds a reasonable share of the market. The major activities and offerings of the
company today are Equity Broking, Depository Participant Services, Portfolio
Management Services, International Advisory Fund Management Services, Institutional
Broking and Research Services. To broaden the gamut of services offered to its investors,
the company offers an online investment portal armed with a host of revolutionary
features.

       RSL is a member of the National Stock Exchange of India, Bombay Stock
Exchange of India, Depository Participant with National Securities Depository Limited
and Central Depository Services (I) Limited, and is a SEBI approved Portfolio Manager.

       Religare has been constantly innovating in terms of product and services and to
offer such incisive services to specific user segments it has also started the NRI, FII, HNI
and Corporate Servicing groups. These groups take all the portfolio investment decisions
depending upon a client‟s risk / return parameter.

       Religare has a very credible Research and Analysis division, which not only
caters to the need of our Institutional clientele, but also gives their valuable inputs to
investment dealers.




Key Events and Milestones



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                         AMITY GLOBAL BUSINESS SCHOOL,
                                  AHMEDABAD

1994 RSL received membership of the NSE as „stock broker


2000 RSL received membership of the Futures and Options segment of the NSE
        RSL received registration as „Depository Participant‟ with NSDL


2002 RSL received registration as „Portfolio Manager‟ from SEBI


2003 RSL received registration as „Depository Participant‟ with CDSL.


2004 RSL received membership of the BSE as „stock broker


2006 Establishment of representative office in London.
     RCL received membership of NMCE.
     RIBL received licence from IRDA to act as „composite broker‟.
     Joint venture agreement with Aegon International
     N.V. for carrying on the business of mutual fund asset
    management.RSL received registration as „Merchant Banker in Category - I from
SEBI.


2007 -RSL received membership of derivative segment of the BSE as
trading-cum-clearing member




VISION AND MISSION




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                           AMITY GLOBAL BUSINESS SCHOOL,
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     Vision
To build Religare as a globally trusted brand in the financial services domain and present
it as the „Investment Gateway of India'.




     Mission
Providing    complete      financial care driven by the core values of diligence and
transparency.




Brand Essence
Core brand essence is Diligence and Religare is driven by ethical and dynamic processes
for wealth creation.




Major Players of Online Trading in India

     Religare Securities




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                       AMITY GLOBAL BUSINESS SCHOOL,
                                AHMEDABAD

ICICI Direct
Share Khan
India bulls
Motilal Oswal
HDFC
HSBC
Angel Trade
Reliance Money
Standard Chartered
IDBI Paisa Builder
Geojit
Networth
Kotak Securities
India infoline
India infoline
Others




Religare securities offering different services.


a) Equity & Derivative:



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                          AMITY GLOBAL BUSINESS SCHOOL,
                                   AHMEDABAD

Religare is one of the heavyweight equity players in India with membership of National
Stock Exchange of India and Bombay Stock Exchange - both major exchanges of India.
We believe in innovative services that could cater a range of customers according to their
requirements.


b) Commodities: Religare Commodities Limited is a member of both the exchanges
(MCX & NCDEX) that allows you to trade in all the commodities traded at both the
exchanges. At present, trading in commodities is restricted to futures contracts only.
Religare is currently offering special services to our esteemed investors in commodities:.
Portfolio Advisory Services (COMPASS) - This allows investors to get the benefit of our
in-depth research services and generate better returns with minimal risk.


c) Depository Services:
Religare is among the few major Depository Participants holding securities worth more
than Rs.6000 crore under its management. RSL provides depository services to investors
as a Depository Participant with NSDL and CDSL.


d) Portfolio Management Services
The main idea behind Portfolio Management Services is to manage our client's wealth
more efficiently, reduce risk by diversifying across assets, sectors and funds, and
maximizing returns.




JOINT VENTURES




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AMITY GLOBAL BUSINESS SCHOOL,
         AHMEDABAD

          AEGON Religare Life Insurance Company
          Life Insurance business (AEGON as a partner)
          For        more   information     log         on     to
          www.aegonreligare.com



          Religare Macquarie Wealth Management Ltd.
          Private Wealth business (Macquarie, Australian
          Financial     Services   major    as     a    partner)
          For        more   information     log         on     to
          http://www.religaremacquarie.com/



          Vistaar       Religare    -The         Film        Fund
          India's first SEBI approved Film Fund (Vistaar as
          a                                             partner)
          For        more   information     log         on     to
          http://www.vistaarreligare.com/




          Milestone Religare - Private Equity Fund
          Milestone, one of India's premier independent fund
          houses and Religare have come together and
          through the JV have formed an entity, Milestone
          Religare Investment Advisors Private Limited.
          For        more   information     log         on     to
          http://www.milestonereligare.com/




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              AMITY GLOBAL BUSINESS SCHOOL,
                       AHMEDABAD

OTHER GROUP COMPANIES

                 Fortis Healthcare Limited, established in 1996 was
                 founded on the vision of creating an integrated healthcare
                 delivery system. With 22 hospitals in India, including multi-
                 specialty & super specialty centres, the management is
                 aggressively working towards taking this number to a
                 significant level in the next few years to provide quality
                 healthcare facilities and services      across the nation.




                 Super Religare Laboratories Limited (formerly SRL
                 Ranbaxy) within 11 years of inception has become the largest
                 Pathological Laboratory network in South Asia. It started a
                 revolution in diagnostic services in India by ushering in the
                 most specialized technologies, backed by innovation and
                 diligence. The current footprint extends well beyond India in
                 the    Middle        East   and      parts    of     Europe.
                 For more information log on to: http://www.srl.in/




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                         AMITY GLOBAL BUSINESS SCHOOL,
                                  AHMEDABAD


                                    Type of Account


Religare Stock Trading
Religare Demat
Religare Brokerage



Brokerage and Account Fees of Religare Securities

Product of RSL

Religare offers its wide range of financial services though a sophisticated and customized
trading platform - R-ACE (Religare Advanced Client Engine). Below are 3 flavors of R-
ACE accounts available to the investors.

1.    R-ACE Lite (Advanced)

R-ACE Lite is the advanced trading platform for the investor of Religare. This trading
account provides the entire feature of R-ACE (Basic) account. In addition it also provides
real-time streaming stock quotes and alerts. This trading platform is also browser based
and no software installation is needed.

2.   R-ACE Pro (Professional)

As the name indicates this account is for high volume traders. Along with the features
from above 2 accounts, this account also comes with Trading Terminal software which
needs to install on your computer. This terminal directly connects the investor to stock
market and having all industry standard Treading terminal features including technical
charting (intra-day and EOD), multiple watch list, advanced hot-key functions for faster
trading, derivative chains, futures & options calculator etc.

As in basic and advance account, trading is available online through internet and offline
though phone.




1. R-ACE LITE                 [ADVANCED]




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                          AMITY GLOBAL BUSINESS SCHOOL,
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             Account activation charges Rs.499
             Minimum margin of Rs.5000 required.

 Now due to modern business world and spread of the Information Technology most of
 the investor suggests online trading for saving the time as well as accuracy of the
 transaction. Religare provide such services to its clients through R-ACE Lite account. In
 such type of account client have a separate login id and password for open a R-ACE Lite
 software. In this software client can watch 20 different scripts as his wish and can trade
 online. The clients can also make 6 groups of 20 scripts each.




1. R-ACE PRO [ PROFESSIONAL]


           Account activation charges Rs.999
           Minimum margin of Rs.10000 required.

 Religare also provide a very huge platform for its big and loyal clients. R-ACE pro is a
 same account as R-ACE Lite but only the difference in the R-ACE Pro is that a client
 can add unlimited scripts as his wish.




 Brokerage at Religare Securities

 Religare offers different brokerage plans for different kind of clients. Let us see one by
 one plan as mentioned below.

 R-ACE CLASSIC PLUS:



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                           AMITY GLOBAL BUSINESS SCHOOL,
                                    AHMEDABAD

              Particular                             Classic plus

              Fees                                   Rs. 600

              Validity Period                        6 Months




Brokerage:

Type of trade           Monthly turnover     Monthly turnover        Monthly turnover

                        (Less than 1 cr.)    (1 Cr. To 5 Cr.)        (More than 5 Cr.)

Intraday                        0.05%              0.04%                     0.03%

Delivery                        0.50%              0.40%                     0.30%

Future                          0.05%              0.04%                     0.03%



Note: Option brokerage is calculated 1% of gross premium amount or Rs. 75 per
lot whichever is higher



R-ACE TRUMP PLUS:

Particulars                                                     Trump Plus

Cost of Subscription                                                Rs. 2500

Validity Period                                                     12 Months

Brokerage on Delivery                                                0.25%

Brokerage on Intraday                                                0.025%

Brokerage on Future Trade                                            0.025%

Brokerage on Option trade(premium)                    1% Gross premium amount or Rs
                                                       50 per lot whichever is higher




                                            30
                        AMITY GLOBAL BUSINESS SCHOOL,
                                 AHMEDABAD



R-ACE TRUMP SUPER:

Particulars                                             Trump Super

Cost of Subscription                                     Rs. 15000

Validity Period                                          12 Months

Brokerage on Delivery                                      0.15%

Brokerage on Intraday                                     0.015%

Brokerage on Future Trade                                 0.015%

Brokerage on Option trade(premium)            1% Gross premium amount or Rs
                                               50 per lot whichever is higher



                  R-ACE TRUMP STAR:

Particulars                                             Trump Star

Cost of Subscription                                     Rs. 50000

Validity Period                                          12 Months

Brokerage on Delivery                                       0.10

Brokerage on Intraday                                       0.01

Brokerage on Future Trade                                  0.008

Brokerage on Option trade(premium)                      Rs 50 per lot



R-ACE TRUMP SUPERSTAR:

Particulars                                         Trump Superstar

Cost of Subscription                                     Rs. 100000

Validity Period                                          12 Months




                                      31
                         AMITY GLOBAL BUSINESS SCHOOL,
                                  AHMEDABAD

Brokerage on Delivery                                        0.10

Brokerage on Intraday                                        0.005

Brokerage on Future Trade                                    0.005

Brokerage on Option trade(premium)                       Rs. 25 per lot

Charges for call N Trade/ advisory desk or any other     Rs. 10 per lot

offline trade facility




                    INTRODUCTION TO COMMODITY MARKET




                         INDIAN COMMODITY MARKET




                                           32
                        AMITY GLOBAL BUSINESS SCHOOL,
                                 AHMEDABAD

INTRODUCTION
       The vast geographical extent of India and huge population is aptly complemented
by the size of the market. The broadest classification of the Indian Market can be made in
terms of the    commodity market and the bond market.

The commodity market in India comprises of all probable markets that we come across in
our daily lives. Such markets are social institutions that facilitate exchange of goods for
money. The cost of goods is estimated in terms of domestic currency. India commodity
market can be     subdivided into the following two categories:

Wholesale Market
Retail Market

The traditional wholesale market in India dealt with whole sellers who bought goods
from the farmers and manufacturers and then sold them to the retailers after making a
profit in the process. It was the retailers who finally sold the goods to the consumers.
With the passage of time the importance of whole sellers began to fade out for the
following reasons:

The whole sellers in most situations, acted as mere parasites who did not add any value to
the product but raised its price which was eventually faced by the consumers.

The improvement in transport facilities made the retailers directly interact with the
producers and hence the need for whole sellers was not felt.

In recent years, the extent of the retail market (both organized and unorganized) has
evolved in leaps and bounds. In fact, the success stories of the commodity market of
India in recent years has mainly centered on the growth generated by the Retail Sector.
Almost every commodity       under the sun both agricultural and industrial is now being
provided at well distributed retail outlets throughout the country.

Moreover, the retail outlets belong to both the organized as well as the unorganized
sector. The unorganized retail outlets of the yesteryears consist of small shop owners who
are price takers where consumers face a highly competitive price structure. On the other
hand the organized      sector is owned by various business houses like Pantaloons,
Reliance, Tata and others. Such markets are usually selling a wide range of agricultural



                                            33
                         AMITY GLOBAL BUSINESS SCHOOL,
                                  AHMEDABAD

articles and manufactured, edible and          inedible, perishable and durable. Modern
marketing strategies and other techniques of sales       promotion enable such markets to
draw customers from every section of the society. However the growth of such markets
has still centered on the urban areas primarily due to infrastructural limitations.

Considering the present growth rate, the total valuation of the Indian Retail Market is
estimated to cross Rs. 10,000 billion by the year 2010. Demand for commodities is likely
to become four times by 2010 than what it presently is.


COMMODITY
       A commodity may be defined as an article, a product or material that is bought
and sold. It can be classified as every kind of movable property, except Actionable
Claims, Money & Securities. Commodities actually offer immense potential to become a
separate asset class for market-savvy investors, arbitrageurs and speculators. Retail
investors, who claim to understand the equity          markets, may find commodities an
unfathomable market. But commodities are easy to                       understand as far as
fundamentals of demand and supply are concerned. Retail investors should understand
the risks and advantages of trading in commodities futures before taking a leap.
Historically, pricing in commodities futures has been less volatile compared with equity
and bonds, thus providing an efficient portfolio diversification option.

In fact, the size of the commodities markets in India is also quite significant. Of the
country's GDP of Rs 13, 20,730 crore (Rs 13,207.3 billion), commodities related (and
dependent)        industries constitute about 58 per cent.

Currently, the various commodities across the country clock an annual turnover of Rs 1,
40,000 crore (Rs 1,400 billion). With the introduction of futures trading, the size of the
commodities market grows many folds here on.



DIFFERENT TYPES OF COMMODITIES TRADED
       World-over one will find that a market exits for almost all the commodities
known to us. These commodities can be broadly classified into the following:




                                              34
                        AMITY GLOBAL BUSINESS SCHOOL,
                                 AHMEDABAD


 METAL                   Aluminium, Copper, Lead, Nickel, Sponge Iron, Steel Long
                         (Bhavnagar), Steel Long (Govindgarh), Steel Flat, Tin, Zinc

 BULLION                 Gold, Gold HNI, Gold M, i-gold, Silver, Silver HNI, Silver M

 FIBER                   Cotton L Staple, Cotton M Staple, Cotton S Staple, Cotton Yarn, Kapas
 ENERGY                  Brent Crude Oil, Crude Oil, Furnace Oil, Natural Gas, M. E. Sour
                         Crude Oil
 SPICES                  Cardamom, Jeera, Pepper, Red Chilli

 PLANTATIONS             Arecanut, Cashew Kernel, Coffee (Robusta), Rubber

 PULSES                  Chana, Masur, Yellow Peas

 PETROCHEMICALS HDPE, Polypropylene(PP), PVC

 OIL & OIL SEEDS         Castor Oil, Castor Seeds, Coconut Cake, Coconut Oil, Cotton Seed,
                         Crude Palm Oil, Groundnut Oil, Kapasia Khalli, Mustard Oil, Mustard
                         Seed (Jaipur), Mustard Seed (Sirsa), RBD Palmolein, Refined Soy Oil,
                         Refined Sunflower Oil, Rice Bran DOC, Rice Bran Refined Oil,
                         Sesame Seed, Soymeal, Soy Bean, Soy Seeds

 CEREALS                 Maize

 OTHERS                  Guargum, Guar Seed, Gurchaku, Mentha Oil, Potato (Agra), Potato
                         (Tarkeshwar), Sugar M-30, Sugar S-30




COMMODITY MARKET
       Commodity markets are markets where raw or primary products are exchanged.
These raw commodities are traded on regulated commodities exchanges, in which they
are bought and sold in standardized contracts.

It covers physical product (food, metals and electricity) markets but not the ways that
services, including those of governments, nor investment, nor debt, can be seen as a



                                            35
                        AMITY GLOBAL BUSINESS SCHOOL,
                                 AHMEDABAD

commodity. Articles on reinsurance markets, stock markets, bond markets and currency
markets cover those concerns separately and in more depth. One focus of this article is
the relationship between simple commodity money and the more complex instruments
offered in the commodity markets.

Commodity market is an important constituent of the financial markets of any country. It
is the market where a wide range of products, viz., precious metals, base metals, crude
oil, energy and soft commodities like palm oil, coffee etc. are traded. It is important to
develop a vibrant, active and liquid commodity market. This would help investors hedge
their commodity risk, take     speculative positions in commodities and exploit arbitrage
opportunities in the market.




HISTORY OF COMMODITY TRADING



COMMODITY TRADING IN INDIA
       The history of organized commodity derivatives in India goes back to the
nineteenth century when the Cotton Trade Association started futures trading in 1875,
barely about a decade after the commodity derivatives started in Chicago. Over time the
derivatives market developed in several other commodities in India. Following cotton,



                                           36
                         AMITY GLOBAL BUSINESS SCHOOL,
                                  AHMEDABAD

derivatives trading started in oilseeds in Bombay (1900), raw jute and jute goods in
Calcutta (1912), wheat in Hapur (1913) and in        Bullion in Bombay (1920). However,
many feared that derivatives lead to unnecessary                  speculation in essential
commodities, and were harmful to the healthy functioning of the markets for the
underlying commodities, and also to the farmers.

With a view to restricting speculative activity in cotton market, the Government of
Bombay prohibited options business in cotton in 1939. Later in 1943, forward trading
was prohibited in oilseeds and some other commodities including food-grains, spices,
vegetable oils, sugar And cloth. After Independence, the Parliament passed Forward
Contracts (Regulation) Act, 1952 which Regulated forward contracts in commodities all
over India. The Act applies to goods, which are defined as any movable property other
than security, currency and actionable claims. The Act prohibited Options trading in
goods.

The Act envisages (imagine) three-tier regulation:
1) The Exchange which organizes forward trading in commodities can regulate trading on
a day-to-day basis,
2) The Forward Markets Commission provides regulatory oversight under the powers
delegated to it by the central Government.
3) The Central Government - Department of Consumer Affairs, Ministry of Consumer
Affairs, Food and Public Distribution - is the ultimate regulatory authority.
In 1970s and 1980s the Government relaxed forward trading rules for some commodities.


LEADING COMMODITY MARKETS OF INDIA

          The government has now allowed national commodity exchanges, similar to the
BSE & NSE, to come up and let them deal in commodity derivatives in an electronic
trading               environment. These exchanges are expected to offer a nation-wide
anonymous, order driven; screen based trading system for trading. The Forward Markets
Commission (FMC) will regulate these exchanges. Consequently four commodity
exchanges have been approved to commence business in this regard. They are:




                                             37
                            AMITY GLOBAL BUSINESS SCHOOL,
                                     AHMEDABAD

     S.NO.       COMMODITY MARKET IN INDIA

     1           MULTI COMMODITY EXCHANGE (MCX), MUMBAI


     2           NATIONAL COMMODITY AND DERIVATIVE EXCHANGE LTD
                 (NCDEX), MUMBAI


     3           NATIONAL BOARD OF TRADE (NBOT), INDORE

     4
                 NATIONAL  MULTI            COMMODITY           EXCHANGE         (NMCE),
                 AHMEDABAD




     COMMODITY EXCHANGES IN INDIA:

             A commodity exchange refers to the market place where buying and selling of
     commodities for future delivery takes place. The two important commodity exchanges in
     India in which most of the commodity are traded, are Multi-Commodity Exchange of
     India Limited (MCX), and National Multi-Commodity & Derivatives Exchange of India
     Limited (NCDEX).

I.   MULTI-COMMODITY EXCHANGE (MCX)




                                              38
                          AMITY GLOBAL BUSINESS SCHOOL,
                                   AHMEDABAD

        MCX an independent multi-commodity exchange has permanent recognition from
Government of India for facilitating online trading, clearing and settlement operations for
commodity futures markets across the country. Key shareholders of MCX are Financial
Technologies (India) Ltd., State Bank of India, NABARD, NSE, HDFC Bank, State Bank
of Indore, State Bank of         Hyderabad, State Bank of Saurashtra, SBI Life Insurance
Co. Ltd., Union Bank of India, Bank Of India, Bank Of Baroda, Canara Bank,
Corporation Bank. Headquartered in Mumbai, MCX is led by an expert management
team with deep domain knowledge of the commodity futures              markets. Through the
integration of dedicated resources, robust technology and scalable            infrastructure,
since inception MCX has recorded many first to its credit.

Inaugurated in November 2003 by Mukesh Ambani, chairman & managing director,
Reliance Industries Ltd, MCX offers futures trading in the following commodity
categories: Agro Commodities, Bullion, Metals- Ferrous & Non-ferrous, Pulses, Oils &
Oilseeds, Energy, Plantations, Spices and other soft commodities. MCX has built
strategic alliances with some of the largest players in commodities eco-system, namely,
Bombay Bullion Association, Bombay Metal                     Exchange, Solvent Extractors'
association of India, pulses importers association, shetkari     sanghatana, united planters
association of India and India pepper and spice trade association.

Today MCX is offering spectacular growth opportunities and advantages to a large cross
section of the participants including producers / processors, traders, corporate, regional
trading centers, importers, exporters, cooperatives, industry associations, amongst others
MCX being              nation-wide commodity exchange, offering multiple commodities for
trading with wide reach and penetration and robust infrastructure, is well placed to tap
this vast potential.




NATIONAL COMMODITY & DERIVATIVES EXCHANGE LIMITED (NCDEX)
        National Commodity & Derivatives Exchange Limited (NCDEX) is a
professionally managed online multi commodity exchange promoted by ICICI Bank
Limited (ICICI Bank), Life           Insurance Corporation of India (LIC), National Bank
for Agriculture and Rural Development (NABARD) and National Stock Exchange of


                                            39
                         AMITY GLOBAL BUSINESS SCHOOL,
                                  AHMEDABAD

India Limited (NSE). Punjab National Bank (PNB), CRISIL Limited (formerly the Credit
Rating Information Services of India Limited),     Indian Farmers Fertilizer Cooperative
Limited (IFFCO) and Canara Bank by subscribing to the equity shares have joined the
initial promoters as shareholders of the Exchange. NCDEX is the only commodity
exchange in the country promoted by national level institutions. This unique parentage
enables it to offer a bouquet of benefits, which are currently in short supply in the
commodity markets. The institutional promoters of NCDEX are prominent players in
their     respective fields and bring with them institutional building experience, trust,
nationwide reach, technology and risk management skills.
NCDEX is a public limited company incorporated on April 23, 2003 under the
Companies Act, 1956. It obtained its Certificate for Commencement of Business on May
9, 2003. It has   commenced its operations on December 15, 2003.
NCDEX is a nation-level, technology driven de-metalized on-line commodity exchange
with an independent Board of Directors and professionals not having any vested interest
in commodity markets. It is committed to provide a world-class commodity exchange
platform for market     participants to trade in a wide spectrum of commodity derivatives
driven by best global     practices, professionalism and transparency.
NCDEX is regulated by Forward Market Commission in respect of futures trading in
commodities. Besides, NCDEX is subjected to various laws of the land like the
Companies Act, Stamp Act, Contracts Act, Forward Commission (Regulation) Act and
various other legislations, which impinge on its working. NCDEX is located in Mumbai
and offers facilities to its members in more than 390 centers throughout India. The reach
will gradually be expanded to more        centers. NCDEX currently facilitates trading of
thirty six commodities - Cashew, Castor Seed, Chena, Chilly, Coffee, Cotton, Cotton
Seed Oilcake, Crude Palm Oil, Expeller Mustard Oil, Gold, Guar gum, Guar Seeds, Guar,
Jeera, Jute sacking bags, Mild Steel Ingot, Mulberry Green Cocoons, Pepper, Rapeseed -
Mustard Seed ,Raw Jute, RBD Palmolein, Refined Soy Oil, Rice, Rubber, Sesame Seeds,
Silk, Silver, Soy Bean, Sugar, Tar, Turmeric, Arad (Black Mated), Wheat, Yellow Peas,
Yellow Red Maize & Yellow Soybean Meal. At subsequent phases trading in more
commodities would be facilitated.




                                            40
                        AMITY GLOBAL BUSINESS SCHOOL,
                                 AHMEDABAD

Since 2002 when the first national level commodity derivatives exchange started, the
exchanges have conducted brisk business in commodities futures trading. In the last three
years, there has been a great revival of the commodities futures trading in India, both in
terms of the number of commodities allowed for futures trading as well as the value of
trading. While in year 2000,     futures trading were allowed in only 8 commodities, the
number jumped to 80 commodities in June 2004. The value of trading in local currency
saw a quantum jump from about INR 350           billion in 2001-02 to INR 1.3 Trillion in
2003-04. The data in the below Table indicates that the value of commodity derivatives
in India could cross the US$ 1 Trillion mark in 2006. The      market regulator Forward
Markets Commission (FMC) disseminates fortnightly trading data for each of the 3
national & 21 regional exchanges that have been set up in recent years to carry on the
futures trading in commodities in the country. Exhibit presents comparative trading data
for three fortnightly periods in March, June and September 2005 and brings up some
interesting facts.




                                           41
 AMITY GLOBAL BUSINESS SCHOOL,
          AHMEDABAD




TYPES OF SHARE TRADING:



              42
                        AMITY GLOBAL BUSINESS SCHOOL,
                                 AHMEDABAD




                             ONLINE SHARE TRADING:




Online Trading is a service offered on the internet for purchase and sale of shares. In the
real world, one place orders on one‟s stockbroker either verbally (personally or
telephonically) or in a written form (fax). In Online Trading, one has to access
stockbroker's website through one‟ internet-enabled PC and place orders through the
broker's internet-based trading engine. These orders are directed towards the Stock
Exchange without any intervention.

There are 2 types of online trading service: discount brokers and full service online
broker. Discount online brokers allow you to trade via Internet at reduced rates. Some
provide quality research, other don't. Full service online brokerage is linked to existing
brokerages. These brokers allow their clients to place online orders with the Option of
talking/ chatting to brokers if advice is needed. Brokerage rates here are higher. The
various transactions involved in online trading can be shown from the point of view of
the

Client
Broker
Stock Exchange



The client places an order from his net by logging on to his broker‟s site. The broker
accepts and executes the order, and places it with the exchanges. The exchange accepts
the order after checking the share limit for the day. The brokers makes the payment either
directly via the client‟s bank account or pays through his own account and recovers it
later from the client. The exchange receives money and completes the settlement. The
client is intimated about the settlement either through the demat account or via E-mail.




                                            43
                          AMITY GLOBAL BUSINESS SCHOOL,
                                   AHMEDABAD

BENEFITS OF ONLINE TRADING:

This mode of trading has benefited to a great extent to many users and nowadays more
and more people are attracted towards advantages are that it:




1. Ensures the best price for investors

This technique offers the best price for the buying and selling transactions of the
investors, by ensuring proper matching of their orders. Also due to the high level of
transparency because of display of information relating to the specific stocks and
company profiles, the investors are able to get the best quote for the shares. This leads to
a reduction in the transaction cost for the investors.




2. Enables paperless trading

Online trading integrates the bank, the brokerage and the demat accounts, which leads to
easy and paperless trading for the client.




3. Allows quick trading

The investor will be able to execute the entire trading transaction, right from logging on
to the broker's site, to the execution and settlement of his bank account, in a very short
period of time.




4. Reduces the settlement

This method of trading reduces the settlement risk for the investor, as in this case no short
sale is possible. That is .the seller will not be able to sell the securities unless he has their



                                               44
                         AMITY GLOBAL BUSINESS SCHOOL,
                                  AHMEDABAD

actual possession. In the case of a demat account (required for an online transaction),
when a seller wants to sell the securities, his demat account is checked by the Depository
Participant before executing the sale transaction. This reduces the settlement risk for the
buyer, who is assured of the delivery of the securities.




HURDLES FOR ONLINE SHARE TRADING




1. Internet fraud:

In India, internet frauds are not a very uncommon thing we see this kind of frauds
happening in different ways.




2. Internet connectivity is not everywhere in India:

As we all know that internet connectivity is to very less percentage of people and the
people who are about internet are reluctant to go for online trading.




3. Older and experienced investor is not tech savvy.

One of the biggest drawbacks that a country like India faces is that the older and
experienced people are not that tech savvy so they trust offline trading only.




                             OFFLINE SHARE TRADING:




                                             45
                         AMITY GLOBAL BUSINESS SCHOOL,
                                  AHMEDABAD

As the name suggest offline share trading is that trading in which client come to the RM
or call their RM to trade on behalf of them. In a country like India maximum share
trading is done offline, as internet facility is not available everywhere in our country and
various disadvantages that are attached to online share trading, many investor prefer
offline share trading, which may be time consuming but a safer option.




Working of offline share trading:

Normally in all broking firms each client is appointed one RM (Relationship manager)
and one dealer, RM looks and performs the transaction on behalf on of their client,
suppose client will call up the RM, then RM will enter the order in his computer as stated
by the client. RM also provides him various other information like margin short and other
intra day report. in case of offline share trading, RM dealer can only advice their client
but he cant commit a benefit in doing a particular transaction.

All the telephone calls are recorded in case any problem may arise in future.




ADVANTAGES OF OFFLINE SHARE TRADING




                                             46
                         AMITY GLOBAL BUSINESS SCHOOL,
                                  AHMEDABAD

1. safer in comparisons to online share trading.

  Offline share trading is always considered to be a safer option than online share
trading, because of increasing internet fraud.




2. Share trading can be done without internet connectivity at one’s home.

  In a country like India where internet connectivity is not available everywhere trading
online is not possible for everyone, this is also the reason which enhances the growth of
offline trading.




3. Better for new investors:

offline share trading is considered to be better for new investor because in that case he
can take a help of RM, but I case of online share trading he himself must have a complete
knowledge about share market.




4. Brokerage charged is less as compared to online trading.

Brokerage charges are more in case of online share trading but less in offline share
trading, if we compare the brokerage charge of Religare itself brokerage charges for
offline are .3p and .30p on Intra day and Delivery respectively.




DISADVANTAGE OF OFFLINE TRADING:



                                             47
                         AMITY GLOBAL BUSINESS SCHOOL,
                                  AHMEDABAD



1. It is a time consuming process as everything is done offline. it is quite obvious that
in case of offline share trading takes more time in comparisons to online share trading,

2. RM may not provide the correct information as required by his client and may also
trade without permission of client in order to achieve his brokerage target.




Online Trading Competes with Traditional Brokerage:

There is an increasing demand for online trading due to consumer's growing preference
for internet as compared to offline share trading, but still maximum investor goes for
offline share trading, because it is being used from years, and they feel it to be a safer
option, other reason could be as not much people in India are tech savvy so the
percentage of people doing online share trading is less. The study done in this report
regarding this parameter clearly shows that although 91% of the people those who do
share trading are aware about online share trading but still they don‟t prefer it.




DATA ANALYSIS AND INTERPRETATION
INCOME LEVEL




                                              48
                    AMITY GLOBAL BUSINESS SCHOOL,
                             AHMEDABAD


                             NO. OF PERSON

   16
   14
   12
   10
    8                                                        NO. OF PERSON
    6
    4
    2
    0
         < 100000   1 - 2 LACS   2 - 5 LACS   > 5 LACS




Inference: There are 16 respondents who earn between 200000-500000 lacs
and another 14 respondents earn between 100000-200000, 7 respondents
earn less than 100000 and there are very less respondents in the survey who
earn more than 500000 .




INVESTMENT OBJECTIVE



                                        49
                    AMITY GLOBAL BUSINESS SCHOOL,
                             AHMEDABAD


                           NO. OF PERSON
    12
    10
     8
     6
     4
     2
     0                                                         NO OF PERSON




Inference: majority person can invest the money of tax benefit .there are
11 respondents can invest money to give a tax benefit. And 9 respondents
invest money to earn a high income benefits         .and rest of the the 7
respondents invest the money to getting a retirement protection.




INVESTMENT PORTION OF MY INCOME




                                     50
              AMITY GLOBAL BUSINESS SCHOOL,
                       AHMEDABAD


                         Sales




                                              < 25%
                                              25% - 50%
                                              50% - 75%
                                              > 75%




INFERENCES:




RISK TAKING CAPACITY




                           51
                      AMITY GLOBAL BUSINESS SCHOOL,
                               AHMEDABAD


                           NO OF PERSON

  18
  16
  14
  12
  10
                                                      NO OF PERSON
   8
   6
   4
   2
   0
             LOW          MEDIUM        HIGH




       INFERENCES :




From whom will you get your Investment Advice?


                                   52
                     AMITY GLOBAL BUSINESS SCHOOL,
                              AHMEDABAD


                           NO OF PERSON


        OTHERS



  CONSULTANTS

                                                             NO OF PERSON
        FAMILY



       FRIENDS


                 0   2    4    6     8    10   12    14




INFERENCES : There are majority of customers whose first source of
information itself .i.e 13 respondents from others and the 11 respondents
from family. And the remaining customers have first source of information
friends, brokers or consultants . These sources help the customers to take
the decision regarding investment i.e which commodity would be beneficial




VARIOUS INVESTMENT AVENUES



                                    53
                     AMITY GLOBAL BUSINESS SCHOOL,
                              AHMEDABAD




                POST OFFICE   NO OF PERSON
                 SAVINGS
                   13%


   BANK DEPOSITS
        13%
                                                     SHARES
                                                      45%


   INSURANCE
       7%
                              MUTUAL FUNDS
   DEBENTURES                     15%
       2%
        COMMODITY
          MARKET
            5%




INFERENCES: The above observation speaks about the financial
instruments in which the people invest ;most of the people invest in the
securities through share market and than invest in the mutual funds .and
than after most of the people invest in the bank deposits. .thus more focuse
should be made on securities so that company has the maximum investment.
the less than people are invest in the debentures .




HOW MUCH RETURNS GET AFTER INVESTING?




                                      54
                    AMITY GLOBAL BUSINESS SCHOOL,
                             AHMEDABAD


                           NO. OF PERSON

   16
   14
   12
   10
    8                                                         NO OF PERSON
    6
    4
    2
    0
          > 5%      5% - 10%   10% - 15%    > 20%




INFERENCES : in this above charts seen the 16 respondents are getting
the between the 5- 10 % RETURNS And the another 13 respondents are
getting the more than 20 % Retuns and less than 3 respondents are getting
the 10 -15 %.




                                     55
                      AMITY GLOBAL BUSINESS SCHOOL,
                               AHMEDABAD



TIME HORIZON TO ACHIEVE YOUR FINANCEIAL
GOAL?

 20

 18

 16

 14

 12

 10

  8

  6

  4

  2

  0
       < 5 YEARS   6 - 10 YEARS   11-14YEARS   >15 YEARS




INFERENCES :




                                         56
                    AMITY GLOBAL BUSINESS SCHOOL,
                             AHMEDABAD

HOW MANY MONTHS OF LIVING EXPENSES COULD BE
SAFELY COVERED BY YOUR CURRENT LIQUID
INVESTMENT?



                          NO. OF MONTHS




                                                               > 12 MONTHS
                                                               4 - 12 MONTHS
                                                               < 4 MONTHS




INFERENCES : the more of the person review about this covered by
liquid investment so they all are saying the more than 12 months are
minimum occurred to getting the living expenses could be safely covered by
our liquid investments. And the other 40% response about this is less than 4
months or in within 4-12 months are covered our living expenses .




                                     57
                     AMITY GLOBAL BUSINESS SCHOOL,
                              AHMEDABAD

WHILE INVESTING YOUR MONEY WHICH WILL YOU
PREFER?

                            NO. OF PERSON

                                TRUST
                                 13%           LIQUIDITY
                                                  25%



                      HIGH RETURN
                          30%


                                             LOW RISK
                                               32%




INFERENCES :
When the person investing in his money by any services provider they most
prefer to higher return in here 30% respondents prefer the higher returns and
rest of the 32% are preferred the low risk taken ..and none of them 13% are
prefered the trust ..because of it‟s a very risky .by servicer provider or even
though the investors .

That mean customers have different perception regarding investing their
money.




HOW DO YOU INTEND TO USE THE INCOME EARNED BY
YOUR INVESTMENT PORTFOLIO?



                                        58
                      AMITY GLOBAL BUSINESS SCHOOL,
                               AHMEDABAD




                             NO. OF PERSON
  20
  18
  16
  14
  12
  10
   8                                                              NO. OF PERSON
   6
   4
   2
   0
       REINVEST AT LEAST REINVEST 20 - 80 % OF RECEIVE AT LEAST
         80 % EARNINGS        EARNINGS         80% INVESTMENT




INFERENCES: The above charts describe the when the people earn the
money while investing and earned they invest the earning income reinvested
in the share market.

The 18 respondents are receving the 80 % amount . and the another 10
respondents are some part of his income means 20-80% of amout reinvest
in this .




                                CONCLUSION

                                         59
                         AMITY GLOBAL BUSINESS SCHOOL,
                                  AHMEDABAD

Commodities market equity markets contrary to the beliefs of many people, has been in
existence in India through the ages and still has to go a long way ahead. Perceptions of
investors towards equity and commodity trading might change quite a lot with time.

The project reveals that equity and commodity market works in delivery base and
intraday base .and commodity works in future and derivative in which investors invest
money through the contracts given i.e 2 months contracts, 3 months contracts which
expires last Thursday of every month. The future market also provide the benefits for the
traders who want investment but they don‟t have enough money at particular time they
can invest with margin money in commodities and pay later to earn profits. The investors
can avail the benefits by opting different options, forward contracting, apply hedging to
minimize the loss if occur in the commodity market. It also provides the facility of the
hedging in the commodity market by which a customer can minimize the losses which he
is facing and ultimately save the principle amount for future investment.

Religare securities Ltd has the quality staff which helps in retaining the customers for
trading and the employees provide the advice about the most beneficial commodities and
equity provide the solution to the queries of the customers. Thus, it is referred that
employees is providing the    important role in satisfaction of the customers.

The project explains about satisfaction of the customers who are trading with the Religare
securities Limited on the services provided by the RCL which is essential to smooth
functioning of the trading. The firm is able to satisfy their customers by providing quality
services and earning the higher profits in the market.

At last, it can be concluded that most of the customers are satisfied with services
provided by the        Religare securities Limited and they are ready to give advice of
potential customers.




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                                AMITY GLOBAL BUSINESS SCHOOL,
                                         AHMEDABAD

                                               APPENDIX




                                      QUESTIONNAIRE

 Name: ________________


 Age:
   [       ] Below 25 yrs       [      ] 25-50 yrs       [       ] 50-75 yrs        [   ] Above 75 yrs


 Occupation:
   [       ] Business           [      ] Profession          [   ] Employed        [    ] Others


 Gender:
       [      ] Male        [       ] Female

 Educational qualification: ___________


 Annual income:
       [      ] Below 1, 00,000         [      ] 1, 00,000 -2, 00,00        [     ] 2, 00,000-5, 00,000

       [      ] Above 5, 00,000

 Your Investment objective:
       [      ] High income     [      ] Reasonable income             [        ] Reasonable income and
   safety

   [       ] For future welfare [      ] Retirement protection [           ] Tax benefit




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                                           AMITY GLOBAL BUSINESS SCHOOL,
                                                    AHMEDABAD

 Investment portion of your income
   [       ] below 25% [                   ] 25% to 50%          [        ] 50% to 75%       [   ] above 75%


 Your Risk taking capacity
   [       ] low       [           ] Medium          [     ] High


 From whom will you get your Investment Advice?
   [       ] Friends           [        ] Family [          ] Consultants [       ] Others



 Your preference to various Investment avenues
   [       ] Shares        [        ] Mutual funds           [   ] Commodity market [            ] Debentures
   [       ] Insurance              [     ] Bank deposits             [     ] Post office savings


 What are the reasons for your preference?




 Do you have any investment in last 6 months?
   ________________________________________________________________________
   _____


 How much Return you Get after Investing ?

       [      ] >5%                          [           ] 5 % - 10 %

       [      ] 10% -15%                         [       ] 15 % - 20%




 What is the primary objective for these assets?
                   [       ] Wealth preservation
                   [       ] Source of Income
                   [       ] Capital Appreciation


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                                AMITY GLOBAL BUSINESS SCHOOL,
                                         AHMEDABAD

                [       ] Retirement planning/ Education funding/long term wealth accumulation




 What is the time horizon you have to achieve your financial goal?
       [     ] 0-5 years
       [     ] 6-10 years
       [     ] 11-14 years
       [     ] 15 years or longer




 How do you intend to use the income earned by your investment portfolio?
       [     ] Reinvest at least 80% of my earnings
       [     ] Reinvest between 20% and 80% of my earnings
       [     ] Receive at least 80% of my earnings as income



 Taking into consideration all sources of income, what is your current attitude
             towards your income needs:
                    [     ] I can forego at least 10% of my current income
                    [     ] Present income is adequate for present needs
                    [     ] I need at least 10% more income




 How many months of living expenses could be safely covered by your current
       Liquid investments?
                    [     ] More than 12 months
                    [    ] Between 4 and 12 months
                    [     ] Less than 4 months


 Which of the following best describes your reaction if the value of your
           portfolio suddenly declined 15%?




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                                       AMITY GLOBAL BUSINESS SCHOOL,
                                                AHMEDABAD

[     ] I would be very concerned because I cannot accept fluctuations in the value of
       my portfolio.
               [       ] I invest for long term growth, but would be concerned about even a temporary
       decline.
               [       ] If the amount of income I received was unaffected, it would not bother me.
               [       ] I invest for long term growth and accept temporary fluctuations due to market
       influences.




     While investing your money, which factor will you prefer?

       .

               (a) Liquidity              (b) Low Risk          (c) High Return     (d) Trust



     Have you ever invested any where? Pl

                           [   ] Yes               [     ] No



     If yes
      where_______________________________________________________________


     Rank your understanding and comfort-level with investing in the stock market

           [       ]    No experience and no comfort level in investing in stocks


          [ ] No experience, but some level of comfort in stocks Some experience, and
       interest in stock market investing


           [       ]     Reasonable experience and comfort level with the stock market



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                      AMITY GLOBAL BUSINESS SCHOOL,
                               AHMEDABAD



  [   ]   Extensive background and understanding of the stock market




                          BIBLIOGRAPHY
www.religareonline.com

www.religrecm.com

www.religarecommodities.com




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                      AMITY GLOBAL BUSINESS SCHOOL,
                               AHMEDABAD

http://www.commodities.in

www.religaresecurities.com

www.moneycontrol.com




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AMITY GLOBAL BUSINESS SCHOOL,
         AHMEDABAD




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