Acknowledgement: Taresh Jain
Acknowledgement: Taresh Jain
Acknowledgement: Taresh Jain
sharing their invaluable time and rich experience with me, without which this
project of such magnitude. It took many very special people to facilitate it and
support it. Hence, I would like to acknowledge all of their valuable support and
First of all I thank the Indian marketers and advertisers who have without
fail produced, Surrogate Ads which we so often debate about. At least they gave
me a topic to work on and even realize the issue of surrogate ads which I did not
Manager, Angel Broking Ltd. Ajmer Branch) for sharing his valuable ideas,
constructive criticism and motivation, which were the guiding, light during the
Taresh Jain
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Preface
Share trading in India is undergoing a transition and consolidation phase
witnessed never before. The competition is likely to become so severe after the
entry of many players, retaining a customer is most difficult practice for any
service provider.
Though India has a very big untapped market but the players will not flourish
unless they change the way the customers are being served. Given the awareness
level of today customers every player has to treat with care and make the
customer feel that he is the king. Number of Online Share trader in India has
crossed the line. More and more customers are coming under this umbrella and
many of the existing one are changing pavilion. So customer retention and
satisfaction is now more important as it was never before. Players keep coming
with new schemes in order to attract new customers and retain the existing one.
This is being supplemented with increased advertising and brand building efforts.
Success of any organization depends upon its being proactive. An often quoted
To give the student of management a feel of real world situation they are
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I am very lucky as I got an opportunity to work with “angel broking” LTD.
and unknown reasons for customer satisfaction and retention. “To err is human”
and I am not an exception, valuable comments are always welcomed since it will
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Executive Summary
The summer internship at “Angel Broking” undertaken by us has given us an exposure into
the investment scenario in India. The project that we were involved with while working at
“Angel Broking” includes advisory services i.e. educating the existing and potential investors
about stock market as an alternative source to investment. This involves catering to the queries
of the investors about the concept of stock market, the various options that an investor can
Analyzing the investors’ behavior includes understanding the concerns a person has
towards Stock Market, his stages in life and wealth cycle, the effect of the investments made
by the peer groups, effect of the profession he/she is in, education qualification, importance of
tax benefits, the most preferred saving tool etc. and this all is analyzed with the help of a
schedule prepared.
Through the systematic investment plan invest a specific amount for a continuous period,
at regular intervals. By doing this, the investor get the advantage of rupee cost averaging
which means that by investing the same amount at regular intervals, the average cost per unit
4|Page
CONTENTS
2. COMPANY PROFILE : 11
11
Introduction and history
Introduction to Angel Broking 12
About the Angel Broking 12
Management team 14
Milestones 14
15
Angel Logo’s
Organizational Structure 19
19
Products of Angel Broking
Investment Advisory Services 21
21
Commodity
Department Study 23
Brokerage 34
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37
Other features
38
SW0T Analysis 39
Procedure of client acquisition
3. COMPETITOR’S ANALYSIS : 44
44
ICICI Direct.com
Indiabulls.com 49
Competitor’s Comparison 53
4. RESEARCH METHODOLOGY : 56
Objectives of study 56
56
Research methodology
Data sources 57
Significance of the study 57
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CHAPTER -1
INDUSTRY OVERVIEW
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Realizing there is untapped market of investors who want to be able to execute their own
trades when it suits them, brokers have taken their trading rooms to the Internet. Known as
online brokers, they allow you to buy and sell shares via Internet.
Online Trading is a service offered on the Internet for purchase and sale of shares. In the
real world, you place orders on your stockbroker either verbally (personally or telephonically)
or in a written form (fax). In Online Trading, you will access a stockbroker's website through
your internet-enabled PC and place orders through the broker's internet-based trading engine.
These orders are routed to the Stock Exchange without manual intervention and executed
thereon in a matter of a few seconds.
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
The various transactions involved in online trading can be shown from the point of view of the
Client
Broker
Stock Exchange.
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Online trading process
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CHAPTER-2
COMPANY PROFILE
“Angel Broking” is the retail broking arm of SSKI, an organization with more than
eight decades of trust & credibility in the stock market. It is India's leading retail financial
Services Company with We have over 250 share shops across 115 cities in India. While our
size and strong balance sheet allow us to provide you with varied products and services at very
attractive prices, our over 750 Client Relationship Managers are dedicated to serving your
unique needs. Angel Broking is lead by a highly regarded management team that has invested
crores of rupees into a world class Infrastructure that provides our clients with real-time
service & 24/7 access to all information and products. Our flagship Angel Broking
Professional Network offers real-time prices, detailed data and news, intelligent analytics, and
electronic trading capabilities, right at your fingertips. This powerful technology
complemented by our knowledgeable and customer focused Relationship Managers. We are
creating a world of Smart Investor. Angel Broking offers a full range of financial services and
products ranging from Equities to Derivatives enhance your wealth and hence, achieve your
financial goals. Angel Broking' Client Relationship Managers are available to you to help with
your financial planning and investment needs. To provide the highest possible quality of
service, Angel Broking provides full access to all our products and services through multi-
channels.
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INTRODUCTION TO ANGEL
In a shot span of 22 years since inception, the Angel Group has emerged as one of the top
five retail stock broking houses in India, having membership of BSE, NSE and the two leading
Commodity Exchanges in the country i.e. NCDEX & MCX. Angel Broking is also registered
as a Depository Participant with CDSL.
The group is promoted by Mr. Dinesh Thakkar, who started this business as a sub-broker
in 1987 with a team of 3. Today the angel group is managed by a team of 1937 direct
employees and has a nationwide network comprising of 21 Regional hubs, 124 branches and
6810 sub brokers & business associates. Angel is 100% focused on retail stock broking
business unlike any other larger national broking house. The group currently services more
than 5.9 thousand retail clients.
Angel habitually generates value added features without the cost burden being passed on
to the clients as they strongly believe that better understanding of client’s needs and wants is
their top priority. Their e-broking facility is one such effort, which gives the client a platform
to access state of the art trading facility at the click of a button.
Angel has always strived for delivering customer delight and developing strong long term
bonds with its clients as well as channel partners. Angel thrives on a vision to introduce new
and innovative products and services constantly. Moreover, Angel has been among the
pioneers to introduce the latest technological innovations and integrate them efficiently within
its business.
Angel Booking’s tryst with excellence in customer relations began more than 20 years
ago. Angel Group has emerged as one of the top 3 retail broking houses in India and
incorporated in 1987. Today, Angel has emerged as a premium Indian stock-broking and
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wealth management house, with an absolute focus on retail business and a commitment to
provide "Real Value for Money" to all its clients.
It has memberships on BSE, NSE and the leading commodity exchanges in India NCDEX
& MCX. Angel is also registered as a depository participant with CDSL.
Angel Capital & Debt Market Membership on the NSE Cash and Futures & Options
Ltd. Segment
Incorporated :1997
Angel’s presence :-
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5.9 lakh + clients
Management
S.No Name Designation & Department
1. Mr. Dinesh Thakkar : Founder Chairman & Managing Director
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● March, 2002 Developed web-enabled back office software
● November, 1998 Angel Capital and Debt Market Ltd. Incorporated
● December, 1997 Angel Broking Ltd. Incorporated
ANGEL’S LOGO
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ANGEL’S VISION
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OUR ORGANIZATIONAL STRUCTURE
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3. DP Services
5. Insurance
6. IPO Advisory
7. Mutual Fund
Online- Trading
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Specially designed for the net savvy traders and investors who prefer operating
from their home or office through the internet. The investor can access state of the art
Technology with three different e-broking products and voila trading on BSE, NSE, F &
O, MCX and NCDEX.
ANGEL DIET
Application based product for Traders.
Application based ideal for traders.
Multiple exchanges on single screen
Online fund transfer facility
User friendly & simple navigation
BSC, NSC, F&O, MCX & NCDEX
ANGEL ANYWHERE
Application based product for Traders with Charts.
Application-based platform for day traders
Intra-day/historical charts with various indicators
Online fund transfer facility
BSC, NSC, Cash & Derivatives
ANGELTRADE
Browser based product for Active Investors.
Browser based for investor
No installation required
Advantage of mobility
Trading as simple as internet surfing
BSC, NSC, F&O, MCX & NCDEX
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ANGEL INVESTOR
User-friendly browser for investors
Easy online trading platform
Works in proxy and firewall system set up
Integrated Back office: Access account information – anytime, anywhere
Streaming quotes
Refresh static rates when required
Multiple exchanges on single screen
Online fund transfer facility
To derive optimum returns from equity as an asset class requires professional guidance
and advice. Professional assistance will always be beneficial in wealth creation. Investment
decisions without expert advice would be like treating ailment without the help of a doctor.
● Expert Advice: Their expert investment advisors are based at various branches
across India to provide assistance in designing and monitoring portfolios.
● Timely Entry & Exit: Their advisors will regularly monitor customers’ investments
and guide customers to book timely profits. They will also guide them in adopting
switching techniques from one stock to another during various market conditions.
Commodities
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A commodity is a basic good representing a monetary value. Commodities are most often
used as inputs in the production of other goods or services. With the advent of new online
exchange, commodities can now be traded in futures markets. When they are traded on an
exchange, Commodities must also meet specified minimum standards known as basic grade.
Types of Commodities
Benefits at Angel
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Angel Broking Ltd. is a DP services provider though CDSL. We offer depository services
to create a seamless transaction platform to execute trades through Angel group of companies
and settle these transactions through Angel Depository services.
● Wide branch coverage
● Personalized/attentive services of trained a dedicated staff
● Centralized billing & accounting
● Acceptance & execution of instruction on fax
● Daily statement of transaction & holdings statement on e-mail
● No charges for extra transaction statement & holdings statement
Successful investing in Capital Markets demands ever more time and expertise.
Investment Management is an art and a science in itself. Portfolio Management Services
(PMS) is one such service that is fast gaining eminence as an investment avenue of choice for
High Net worth Investors (HNI). PMS is a sophisticated investment vehicle that offers a range
of specialized investment strategies to capitalize on opportunities in the market. The Portfolio
Management Service combined with competent fund management, dedicated research and
technology, ensures a rewarding experience for its clients.
Angel PMS brings with it years of experience, expertise, research and the backing of
India's leading stock broking house. At Angel, experienced portfolio management is the
difference. It will advise you on a suitable product based on factors such as your investment
horizon, return expectations and risk tolerance.
DEPARTMENT STUDY
REPORTS :
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Market Outlook at 9:15 a.m.
Technical Report at 6:00 p.m.
Derivative Analysis Report at 9:15 a.m.
Stock Analysis :
Angel’s stock research has performed very well over the past few years and the
Angel Model Portfolio has consistently outperformed the benchmark indices. The
fundamentals of select scrip are thoroughly analyzed and an actionable advice is
provided along with investment rationale for each scrip.
Flash News :
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Key developments and significant news announcements that are likely to have
an impact on markets / scrip are flashed live on trading terminals. Flash news keeps
the market participants updated on an online basis and helps them to reshuffle on their
holdings.
Nifty Tracker :
Nifty Futures is the most traded instrument with highest volumes in F & O and
excellent liquidity. The team tracks the Nifty Future and generates calls based on
unique trading system which is a result of their focused research over the past few
years. The objective is to generate positive returns for traders who are looking for a
high risk / high reward product.
Online Chart :
An online forum to help clients, specifically day traders in judging the
directions of the market and stocks which are in the limelight.
Intraday Calls :
For day traders, Angel provides intra-day calls with entry, exit and stop loss
levels during market hours. These calls are flashed on their terminals. Their analysts
continuously track the calls and provide recommendations according to the market
movements.
Position Calls :
Angel’s “Position Trading Calls” are based on thorough analysis of the price
movement in select scrip’s. These calls are for a 10-15 day time span with stop loss
and target levels. These calls are flashed on their terminals during market hours.
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Derivative Strategies :
Their analysts take view on the Nifty and select stocks based on the derivatives
data and technical tools. Suitable “Derivative Strategies” are devised, which are
flashed on their terminals and published in their reports.
Futures Calls :
A customized product for HNIs to help them trade with leveraged position;
wherein clients are advised on the stocks with entry, exit and stop loss level for short
term benefits. Over and above this, financial status of the calls is monitored at all
times.
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the services of an expert to manage their funds and deliver good returns in diverse market
conditions. Continuous wealth creation with and emphasis on capital preservation is
essential in today’s complex markets.
In order to systematically diversify the holdings of clients across varied sectors and
with and intention to give them handsome returns, Angel devised the concept of the Model
Portfolio :-
Angel came out with its first Model Portfolio in August 2002
Since then it has come out with Model Portfolios which have consistently
outperformed the Sensex YOY
In fact the latest model portfolio by Angel has successfully outperformed the
Sensex by a whopping 80%
Angel’s Portfolio Advisory Team had a successful track record of assisting its clients in
managing their portfolios for over 4 years.
The Portfolio Management Process starts with understanding each investor’s risk appetite
and return expectations. The Portfolio Management Team not only draws support from
Angel’s in-house research team for new investment ideas but also has its own stocks picking
by adopting bottom up research.
Salient features of PMS schemes are 100% discretionary, time horizon 12-18 months and
Wealth creation at minimum risk.
Description :
The main objective of the scheme is wealth generation by delivering superior returns over
long term through investments and equity related instruments.
Investment Strategy :
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To generate wealth on consistent basis rather than outperform by taking higher risk.
Logic works well and thus will be given weight age along with financials
Early identification of stocks to ride through the entire investment cycle
Timing of investment is important to generate superior returns
Bottom –up approach
Parameters Driving Investment Decision :
Sectoral Composition :
Investor Profile :
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Description :
The objective of the scheme is to generate capital appreciations in the medium to long
term through investments in equities and equity related instruments comprising predominantly
large cap companies.
Investment Strategy :
The scheme will seek to achieve returns through brand based participants in equity
markets by creating a diversified equity portfolio. The portfolio will be overweight on
large cap companies.
The portfolio strives at all time to achieve an 80% allocation to large cap companies.
The allocation of sectors and stocks in the portfolio may be dynamically structured in
tune with changes in broader market conditions
Overweight on large cap stock. However quality mid cap stocks may also be
considered for investment.
Portfolio to comprise of a combination of growth & value stocks.
The portfolio strives to limit the exposure to any sector to less than 25% of the
portfolio size
The portfolio strives to limit the exposure to any stock to less than 10% of the
portfolio size
The allocation and composition of medium capitalized stocks to vary based market
conditions
Investor Profile :
The scheme would be suited for investors with low to moderate risk appetite
The scheme would be suited for investors having medium to long term perspective.
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Understanding risk : At Angel, utmost emphasis is given to understanding the risk
profile of an investor.
Periodic Evaluation : Periodic evaluation of the Model Portfolio is carried out and
market movements are cashed upon.
Administrative Convenience : Angel focuses on providing hassle free administrative /
operational support and customized services.
Portfolio Management Services from Angel are essential for investor who needed
Long term wealth generation
Personalized service
Investment opportunities in Indian equities
Fundamental research based investment decisions
In essence, all investor who have faith and belief in the Indian growth story and robust
corporate performance would find Angel PMS most suitable to meet their objectives.
ANGEL GOLD :
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In a volatile market it is very difficult for an investor to pick up value stocks which
will give decent returns in the long run. We at Angel Gold realize your need for a professional
financial advisor and hence are here to assist you in making wise and profitable decisions.
We strongly believe that right decisions taken at the right time are always beneficial
and that's why our entire research team comprising of 12 sector specialists along with our
research head will understand your need, return expectation, risk profile and time horizon to
design your portfolio accordingly. This portfolio will be tracked regularly and our efforts
would be to optimize your returns in the long run.
A premium service for clients who need professional guidance on long term investments.
Minimum fund / portfolio of Rs. 1 lakh and maximum of Rs. 4 lakh eligible for Angel
Gold.
Appropriate risk profiling before taking investment decisions
Periodic group meetings and seminars in branches.
Monthly Newsletter from the desk of “Angel Gold” .
Browser based back-office software.
COMMODITIES SERVICES :
Mainly gives the investors insight into and a forecast for agro commodities viz.
pulses (urad, channa etc); reports on oil complex (soybeans castor etc.) along with
spices with reports on kapas guar seed.
Call Evaluation :
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A report designed for evaluating the calls given by the angel research team
where the reports are classified in 3 broad categories viz. achieved, triumph, not
achieved along with the trade recommendations.
E-Broking :
o Single screen customized market watch for MCX / NCDEX with BSE / NSE
o Streaming quotes and intraday calls
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Angel Broking Ltd. is a DP Service provider through CDSL. They offer
Depository Services to create a seamless transaction platform to execute trades through
Angel Group of Companies and settle these transactions through Angel Depository
Services.
Hassle free automated pay-in of client’s sell obligations by Angel Broking Ltd. / Angel
Capital & Debt Market Ltd.
Instant disbursement of non-cash benefit like bonus and rights
Wide Branch coverage
Personalized / Attentive services of trained and dedicated staff
Centralized billing and Accounting
Acceptance and Execution of instructions on “fax”
“Zero” upfront payment and lowest transaction charges
Daily statement of transactions and holding statements on e-mail
No charges for extra transaction statement and holding statement
BROKERAGE
Following schemes are available for trading Account :
Table A Table B
Scheme Type A Brokerage Rate Brokerage Rate
Account opening Speed Trade A/c Rs. Speed Trade Account Rs.
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Percentage Min. Paisa Percentage Min. Paisa
Cash Segment
Trading
Delivery
Stamp Duty Y Y Y Y
Turnover Tax Y Y Y Y
Service tax Y Y Y Y
Default Brokerage
Stamp Duty Y Y Y Y
Turnover Tax Y Y Y Y
Service tax Y Y Y Y
Default Brokerage
Table A Table B
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Brokerage Rate Brokerage Rate
Scheme Type B
(for AMC Scheme Account) (for non AMC Scheme Account)
Account opening Speed Trade A/c Rs. Speed Trade Account Rs.
Cash Segment
Trading
Delivery
Stamp Duty Y Y Y Y
Turnover Tax Y Y Y Y
Service tax Y Y Y Y
Default Brokerage
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Next day 0.05% 01p 0.10% 10
Stamp Duty Y Y Y Y
Turnover Tax Y Y Y Y
Service tax Y Y Y Y
Default Brokerage
Along with these above schemes many other competitive schemes are available for
customers depending on their volume of trading.
OTHER FEATURES :-
What is:-
have any place they could start out from. This is why Angel Broking started the First
Step program - to assist and guide new investors when they take their first steps into
the world of investing in shares. This program is explicitly designed for beginners.
You will not feel unintelligent when asking questions like "Who owns the Stock
Market?" or "What is a stock-split?" since Angel Broking people are trained to assist
Consist of:-
program created by Angel Broking for new investors to the stock market. Despite
being a beginner with a small amount to invest, they will still be able to benefit from
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Broking have created special versions of all of these for clients - clear and simple
information tools for there understanding, demonstrations to help them get started and
research re-written in easier language. See how Angel Broking friendly assistance
Stock Updates, Earning Guide, Stock Recos, Mutual Fund Guide , Market Outlook, Sector
Updates.
SWOT Analysis :-
A SWOT analysis focuses on the internal and external environments, examining strengths
and weaknesses in the internal environment and opportunities and threats in the external
environment.
STRENGTH WEAKNESS
Service Customer Satisfaction
Products
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OPPORTUNITIES THREATS
Education level
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Then we have to visit them and get the formed filled from them.
We collect all-important documents from client.
You can open a Depository Participant (DP) account, either through an Angel Broking
branch or through an Angel Broking Franchisee center.
There is no fee for opening DP accounts with Angel Broking. However a nominal
deposit (refundable) is charged towards services which will be adjusted against all
future billings.
All investors have to submit their proof of identity and proof of address along with the
prescribed account opening form.
1. Minor details like name of the branch, name of the client & address and other details of
the client required to be mentioned in the form and Agreement.
2. Signatures are required on all pages of the agreement.
3. All the details (Name & address of the client) must be filled.
4. Name, Address & signature of the witness are compulsory. (Please note that 1 witness
is required to sign on behalf of the client)
5. Please note that if the signature on the form & the proof provided differs, the form will
be liable for rejection. In such cases the client has to get his signatures verified by the
banker.
6. Nominee details must be supported by 2 witnesses (Name, Address & signature).
7. Minor accounts, HUF accounts, Corporate accounts, and Accounts having 3 holders
cannot have nominees in a DP account.
8. Please note that joint accounts cannot be opened in case Minor accounts and HUF
accounts.
9. In case of any corrections on the application form & agreement holders have to counter
sign at place of the correction.
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ACCOUNT OPENING REQUIREMENTS UNDER VARIOUS HEADS :-
(i) Proof of Identity (Any one of the following) :-
1. Photocopy of Valid Passport (Page containing the date of expiry also to be attached)
2. Photocopy of Voters Identity card.
3. Photocopy of Valid Driving License (Page containing the date of expiry also to be
attached).
4. Photocopy of Pan card
5. Photocopy of MAPIN card
6. Identity card/document with applicant’s Photo, issued by
a) Central/State Government and its Departments,
b) Statutory/Regulatory Authorities,
c) Public Sector Undertakings,
d) Scheduled Commercial Banks,
e) Public Financial Institutions,
f) Professional Bodies such as ICAI, ICWAI, ICSI, Bar Council etc., to their Members;
and
g) Credit cards/Debit cards issued by Banks.
(ii) Proof of Address (Any one of the following) - (Provided the entire address written
on the form matches with the proof):-
1. Photocopy of Ration card.
2. Photocopy of Valid Passport (Page containing the date of expiry also to be attached).
(Copy of expiry date also to be submitted)
3. Photocopy of Voters Identity card.
4. Photocopy of Valid Driving License (Page containing the date of expiry also to be
attached). (Copy of expiry date also to be submitted)
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5. Photocopy of Telephone or Electricity bill. (Government entity only & should not be
more than 3 months old)
6. Photocopy of Leave-License / Purchase Agreement.
7. Photocopy of Voters Identity card.
8. Photocopy of Bank Passbook or latest Bank statement.
9. Self-declaration by High Court & Supreme Court judges, giving the new address in
respect of their own accounts.
10. Identity card/document with address, issued by
a) Central/State Government and its Departments,
b) Statutory/Regulatory Authorities,
c) Public Sector Undertakings,
d) Scheduled Commercial Banks,
e) Public Financial Institutions and
f) Professional Bodies such as ICAI, ICWAI, Bar Council etc., to their Members.
(iii) Photocopy of cheque leaf of bank account number mentioned on the form to verify the
Bank MICR No.
(iv) Latest photograph signed by the client.
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8. No joint names & nominees allowed for HUF accounts.
The account opened in the name of the minor cannot have second and third holders.
Further there can be no nominee for minor account. The Guardian has to sign on behalf of the
Minor.
1. Birth Certificate of the Minor.
2. Guardian’s Proof of Address.
3. Guardian’s Proof of Identity.
4. Photograph of the Minor & Guardian.
5. Photocopy of cheque leaf
FOR N.R.I. (NON RESIDENT INDIAN) CLIENT :-
The account cannot be opened in the name of a partnership firm. It has to be opened in the
name of the partners, as an individual account. Maintaining dairy of clients and contacting
them at regular basis. To get feedback from them about Angel Broking services.
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CHAPTER - 3
COMPETITOR’S ANALYSIS
ICICIDIRECT.COM
A product for every need: ICICIdirect.com is the most comprehensive website, which
allows you to invest in Shares, Mutual funds, Derivatives (Futures and Options) and other
financial products. Simply they offer you a product for every investment need of yours.
ICICI Web Trade Limited (IWTL) maintains ICICIdirect.com. IWTL is an affiliate of
ICICI Bank Limited and the Website is owned by ICICI Bank Limited.
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ICICIDIRECT.COM
1. TRADING IN SHARES :-
Cash Trading :- This is a delivery based trading system, which is generally done with
the intention of taking delivery of shares.
Margin Trading :- You can also do an intra-settlement trading up to 3 to 4 times your
available funds, wherein you take long buy/ short sell positions in stocks with the
intention of squaring off the position within the same day settlement cycle. (ONLY for
intraday)
Margin PLUS Trading :- Through Margin PLUS you can do an intra-settlement trading
up to 25 times your available funds, wherein you take long buy/ short sell positions in
stocks with the intention of squaring off the position within the same day settlement
cycle. Margin PLUS will give a much higher leverage in your account against your
limits.
Spot Trading :- When you are looking at an immediate liquidity option, 'Cash on Spot'
may work the best for you, On selling shares through "cash on spot", money is credited
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to your bank a/c the same evening & not on the exchange payout date. This money can
then be withdrawn from any of the ICICIBank ATMs.
BTST :- Buy Today Sell Tomorrow (BTST) is a facility that allows you to sell shares
even on 1st and 2nd day after the buy order date, without you having to wait for the
receipt of shares into your demat account.
Call n Trade® :- Call n Trade® allows you to call on a local number in your city &
trade on the telephone through our Customer Service Executives. This facility is
currently available in over 11 major states across India.
Trading on NSE/BSE :- Through ICICIdirect.com, you can trade on NSE as well as
BSE.
2. TRADE IN DERIVATIVES :-
Future :-
Through ICICIdirect.com, you can now trade in index and stock futures on the NSE. In
futures trading, you take buy/sell positions in index or stock(s) contracts having a longer
contract period of up to 3 months.
Presently only selected stocks, which meet the criteria on liquidity and volume, have
been enabled for futures trading.
Calculate Index and Know your Margin are tools to help you in calculating your
margin requirements and also the index & stock price movements.
Option :-
To take the buy/sell position on index/stock options, you have to place certain % of
order value as margin. With options trading, you can leverage on your trading limit by taking
buy/sell positions much more than what you could have taken in cash segment.
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You could also invest in Initial Public Offers (IPOs) and Bonds online without going
through the hassles of filling ANY application form/ paperwork.
Get in-depth analyses of new IPOs issues (Initial Public Offerings), which are about to
hit the market and analysis on these. IPO calendar, recent IPO listings, prospectus/offer
documents, and IPO analysis are few of the features, which help you, keep on top of the IPO
markets.
With 'ICICIdirect Customer Tools & Updates' you can trouble shoot all your problems
online.
ICICI DIRECT.COM :-
A/C opening charges : Rs. 750
AMC : Rs 500
Brokerage : 0.03%
Delivery : 0.75%
Intraday : 0.07%
(Exclusive of service tax for 12.24% & Service Transaction Tax)
which are pushed 1st thing in the morning, creates a choking of orders to the exchange, causes
delay of confirmations for new order placed during the early morning trades.
12. Only Intraday Margin exposure :-The margin exposure of 3 or 4 times is only provided
. for intraday.
INDIABULLS.COM :-
India bulls India’s leading retail financial services company with 300 locations spread
across 110 cities. While size and strong balance sheet allow it to provide you with varied
products and services at very attractive prices, it’s over 4400 Client Relationship Managers are
dedicated to serving your unique needs. India bulls are lead by a highly regarded management
team that has invested crores of rupees into a world class Infrastructure that provides our
clients with real-time service & 24/7 accesses to all information and products. India bulls
Professional Network TM offers real-time prices, detailed data and news, intelligent analytics,
and electronic trading capabilities, right at your fingertips. This powerful technology is
complemented by knowledgeable and customer focused Relationship Managers. It is creating
a world of Smart Investor.
India bulls offer a full range of financial services and products ranging from Equities
to Insurance to enhance your wealth and hence, achieve your financial goals.
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India bulls' Client Relationship Managers are available to you to help with your
financial planning and investment needs. To provide the highest possible quality of service,
India bulls provide full access to all our products and services through multi-channels.
INDIABULLS :
Charge Charges
Transaction Charges Sell (Market / Off- Rs. 17/- per Rs. 17/- per Transaction
Market) Transfers Transaction
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D'MAT Rs.1 per certificate Rs.2 per certificate (max
(max Rs.250 /-) + Rs.250 /-)+ Rs.25 courier
Rs.25 courier charges
charges
RESEARCH REPORTS :-
Scheme Facilities
ADVANTAGES OF INDIABULLS :-
5. Value — Enjoy competitive commissions and get the service and support you need at a
fair price.
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6. Priority Service — Enjoy priority telephone access that gives you direct access to your
Relationship Manager.
India bulls Equity Analysis TM
7. Premium Research — Benefit from full access to , our objective,
fact-based approach to rating stocks.
8. Online Accounting — Stay on the top of your investments with a snapshot of your
Account Statements. Get access to Portfolio statement and access to digital contract
notes.
ANALYSIS :-
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COMPETITORS COMPARISON :-
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THROUGH
WEBSITE
OR SOFT-
WARE
NSE/BSE/ NSE/BSE/ NSE/BSE/ NSE/BSE
DERIVA- DERIVATIVES/ MUTUAL DERIVATIVES
TIVES/ COMMODITIES/IPO’ FUNDS/
ARBIT- S/ MUTUAL FUNDS/ Derivatives
RAGE/ INSUARANCE
MUTUAL
FUNDS
SOFT- 500/-P.M. N.A. N.A.
WARE (NEGOTIABLE
CHARGES ON BROKERAGE)
DAIL-N- UNLIMITED On 21st RM NUMBER
TRADE call Rs 20/- PROVIDED
per call(P.M.) FOR
TRADING
DEMAT NIL (THROUGH INCLUDING RS. 17/-
TRANSAC- ANGEL BROKING) IN PER
TION BROKERAG(Rs35) TRANSACTION
CHARGES (ON SELLING)
TIE UP NINE BANKS ICICIBANK ONLY HDFC BANK,
WITH (DETAILS ARE (COMPULSORY)
BANKS GIVEN EARLIER ON
PROJECT)
BUY TODAY YES YES BUT YES
SELL ONLY ON
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TOMOR- 127 SCRIPS
ROW OF NSE
SMS YES YES YES
ALERTS
MINIMUM 4 TO 8 TIMES 4 TIMES 4 TIMES
MARGIN ONWARDS
EXPO-SURE
MINIMUM Nil 5000/- 500 BLOCKED
MARGIN BY THE SYSTEM
Volume Nil Nil NIL
requirement
BROKE- .04%(INTRA) .07% (INTRA-DAY) .04%(INTRA)
RAGE .4% .75% .4%
(DELIVERY) (DELIVERY) (DELIVERY)
CHAPTER – 4
RESEARCH METHODOLOGY
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The objective of my Project is to gain knowledge about how an organization works and in
particular setup of a stock broking house.
SECONDARY OBJECTIVE :-
RESEARCH METHODOLOGY :-
Research Methodology – “Systemized Method to gain knowledge”. The technique deployed
to analyze and interpret the data for the purpose of hitting the target objective plays a crucial
role. The effective research technique has a significant contribution for effective objective
achievement. Throughout this project, a combination of secondary and primary research was
undertaken to ANGEL BROKING LTD.
DATA SOURCES :-
Primary Data,
Secondary Data
PRIMARY DATA :-
Primary data is a data that is collected for the first time in the processing of the
analysis.
The researchers have adopted the contact through telephone for the purpose of
collecting Primary data. The researchers discuss with Team Manager and employees of the
company to get information about competitors of Angel Broking.
SECONDARY DATA :-
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Under Secondary sources, we tapped information from internal & external sources. We
made use of Internet (such as search engine www.google.com, www.icicidirect.com,
www.indiabulls.com and miscellaneous sources (such as brochures, pamphlets, library) under
external sources.
ANALYSIS :-
To make our research project most effective in a given time period of two months
surveyed the information of the competitors. We undertook both Explorative as well as
Conclusive Research Design. The data has been collected from both Primaries as well as
Secondary sources and we also did the fieldwork for which utmost care has been taken to keep
project unbiased from personal opinion.
Every research is conducted to fulfill certain objective and these objectives in turn fulfill
some purpose. BBA curricular is designed to give more practical exposes to the student so that
he can make use of theoretical knowledge in the real life situation, with this thrust dissertation
study has been included which provides opportunity to research to gain practical insight of the
market. This hand on experience helps him in identifying the critical factor of consumer
buying behavior. This rich experience will be great help in researcher’s future endeavors and it
also solves the purpose for the partial fulfillment of BBA curriculum.
I sincerely believe that road to improvement is never- ending and one always learns from a
new experience. This project is a step towards gaining knowledge about real world and putting
the theory of practice. I shall look forward to and gratefully acknowledge all suggestion on
this small step I have taken.
The report consists of a step–wise efforts towards meeting the objectives of the study. It
covers the step-wise collection of data collection and the representation of the data together
with the analysis. It also includes some suggestions put forward hoping it would help the
company achieve its vision.
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MANAGERIAL USEFULNESS OF THE STUDY :-
The marketing department can use this study to enhance their marketing strategies for
better sales. This report helps marketing department in taking decision to what change in
distribution channels and what should be done so that marketing problem could be sorted out
and how to sell their range of product in the competitive market.
The very essence of every project related to marketing is providing a view to management
for chalk out the organization. So that they can maintain a viable fit between the organization
objective, skill and resources and its changing market opportunities. Also give proper shape to
the company business target profit and growth. It provides a feedback to the organization
about their sales, sales schemes and what impact dose it has on the retailers and consumer.
Every market research proves useful suggestion to the organization. Marketing research helps
the firm in every component of the total marketing task. It helps the firm acquire a better
understating of the buyer, the competition and marketing environment. It also aids the
formulation of the marketing mix, product, distribution and pricing needs marketing research
support. It also in taking the information of competitor’s strategies and their impact on the
buyer. The study revels may fact that have come up during the project and these facts can
either be used as opportunities in exploring and expending the business as well as can be used
as safeguard against threats by the competitors to prepare an effective marketing strategy.
Every market research proves usefulness to the organization. Marketing research helps the
firm in every component of the total marketing task. Its helps the firm acquire a better
understanding of the consumer, the competition and the marketing environment. It also aids he
formulation of marketing mix, decision on each element of marketing mix, product,
distribution and promotion and pricing etc need the support of marketing research.
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No proper assurance of right information :- The main data sources are websites,
telephonic information and offices visit.
The data on websites might be possible, not get updated.
The marketing person might be possible, is not through with all concepts to
which I contacted.
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3. From the present study we can know the market share of different by-products and
accordingly formulated strategy to enhance it.
4. The result of marketing success of different by-product can be interpreted to assess the
rate of employee’s satisfaction in that department (marketing).
5. This study can be applied to find out an effective distribution channel to enhance the
sale of by-product of “ANGEL BROKING”.
CHAPTER - 5
FINDING, CONCLUSION & RECOMMANDATIONS
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On surveying various people who are involved in share trading both as trader as well
as investor, we found that brokerage is the most important factor on which people select / opt
a broking house, followed by image , convenience in trading , customer service, features, tips
& suggestion & AMC.
IMAGE
CONVINIENCE(IN
FACTORS
TRADE)
CUSTOMER SERVICE
FEATURES
AMC
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PIE CHART DEPECTING MOST IMPORTANT FACTOR
IN SELECTING A BROKING HOUSE
18%
10% 10%
19% 15%
12%
16%
On surveying ANGEL BROKING Customer why they opted for same, we got to know
it was because of image ANGEL BROKING carries in the market, followed by its competitive
brokerage, convenience in trade, features, customer service, tips and suggestions, and AMC.
Angel Broking Continuous increases its growth percentage as shown in the Graph &
becomes one of the India’s Topmost Online Trading Service Provider.
CONCLUSION :-
1. ANGEL BROKING account opening charges are little higher than other competitors.
ANGEL BROKING is less flexible to cut down its account opening charges on the
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other side; some of the brokers are offering free account opening to High Net Worth
customers.
2. The charges of Demat account are reasonable at 300 p.a. but India bulls are offering
pool account with no Annual Maintenance charges.
3. ANGEL BROKING provides trading in NSE, BSE and Derivatives. It also launched
online Mutual Funds & Online IPO Bidding. Arbitrage facility is not available to
customers.
4. ANGEL BROKING is the only one that does not have any Demat transaction charges
either on buying or selling.
5. Unlimited toll free calls service is provided to customer in ANGEL BROKING.com.
6. ANGEL BROKING accept offline payment from other banks also but icicidirect.com,
HDFCsec.com clients have compulsion to open an online account.
7. IPO Online service is better provided in ANGEL BROKING as compared to others.
8. ANGEL BROKING is only broker in which no margin needs to keep.
9. ANGEL BROKING research reports come in client e-mail at free of cost around 5-6
times in a day. But some brokers charged for it and some provide it only at once in a
day, while it is paid in Indiabulls, icicidirect.com and 5paisa.com.
10. In brokerage, 5paisa.com have an edge on others with lowest brokerage .25% on
delivery and .05% on intraday
To sum up, we can say that computerization and automation are not to be avoided.
Technology has been able to make the stock markets accessible to every individual. It has also
led to positive developments in terms of reduced costs and fewer errors. But, as some
experiences have indicated, IT cannot be applied as a panacea for all problems. Regulation
and knowledge dissemination are still important. The use of technology should be preceded by
a detailed study and assessment of all other alternatives. The key to successful use to
technology is the appreciation of its constraints.
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RECOMMENDATION :-
FINDINGS :-
DEMOGRAPHIC FINDINGS
AGE GROUP
Age group(years) No. of respondents
Below 20 0
20-35 31
36-50 78
51-65 59
Above 65 32
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90
80
70
60
50
Series 3
40
30
20
10
0
Below 20 20-35 36-50 51-65 above 65
Figure : 1
Out of total 200 respondents, below 20 years of age were none, 39% of the respondents
falls in the age group of 36-50 years where as 29% were in the age group of 51-65 years and
next 16% falls in the group of more than 65 years.
JOB PROFILE
Category No. of respondents
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Service 94
Business 80
Others 26
No. of respondents
26
Service
Business
94 Others
80
Figure : 2
Out of total respondents, most of respondents were from service class and 40 % were
during business and rest of the respondents includes retired person, other people, other
professional’s students etc.
ANNUAL INCOME (IN LACS)
No. of Respondents
57 50
93
Figure : 3
Most of the respondents belong to the income group of 1-5 lakh followed by the
respondents belong to income group of more than 5 lakh which is 28% of total respondents
and rest of Respondents belonging to the income group below 1 lakh.
EDUCATIONAL BACKGROUND
90
80 79
70
60
55
53
50
Column2
40
30
20
13
10
0
Under graduate Graduate Post graduate Other
Figure : 4
Most of the respondents were graduate and 26% were post graduate and rest 6% belong
to other category.
Q1. When the respondent were asked their preference of investment, is cash market ,
derivatives market or both, the following respondents were obtained .
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No. of respondents
120
103
100
76
80
60 No. of respondents
40
21
20
0
l... ... th
i ta e m Bo
p tiv
ca
sh/ iva
ca er
nly yl d
O on
Figure : 5
Out of 200 respondents amount 52% respondents their fund in cash and derivative
market, 38% investment is only cash market and rest is derivative market.
Q2.When the respondents were asked about the time period for which they are investing,
the following responses were obtained.
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No of respondents
25
97
Figure : 6
Out of total 200 respondents 12% respondents were new investors, 48% were investing
for 1-5 year and rest was for more than 5 year.
Q3.When the respondents were asked about proportion of income they invest in shares
and securities, the following responses were obtained.
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No. of respondents
31 47
Up to 5%
5to 10 %
10 to 25%
more than 25%
63
59
Figure : 7
When the respondents asked about the proportions of income they invest in shares and
securities, it was found that most of the (32%) respondents invest 10-25% of their income,
30% of respondents invest 5-10% and 24% of them invest up to 5% and rest more than 25%.
Q4.When the respondents were asked trading frequency, the following responses were
obtained.
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No. of respondents
140
131
120
100
80
No. of respondents
60
49
40
20 13
7
0
Daily Monthly Weekly According to the market
Figure : 8
On analyzing the trading practices it was found that majority, 65% of the investor’s trade
according to the market 25% trade daily followed by weekly traders 7%.
Q5.When the respondents were asked about trading advice , the following responses
were obtained.
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No. of respondents
120
100 98
80
60
No. of respondents
40 37
35
20 19
11
0
e
ice
ea
on
r
he
vic
id
pti
dv
Ot
ad
wn
ra
so
ke
o
en
rt'
ur
o
pe
fri
Br
yo
Ex
On
On
Figure : 9
Regarding the decision of amount and investment area, 98 out of 200 takes the idea on
their own and 37 on expert’s opinion, 35 on brokers advice, and 19 on friends advice.
Q6.When the respondents asked whether any professional advice is available to them
when required, the following responses were obtained.
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No. of Responding
19
73
Yes
No
Sometime
108
Figure : 10
Out of 200, 108 respondents said that they don’t and professional advice, 73 said that they
get it sometimes, and 19 of them get advice when needed.
Q7.When the respondents were asked about the motive for making investment in capital
market, the following responses were obtained.
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Option Rank I Rank II Rank III
Regular income in the 113 27 60
form of dividend/
interest
Tax planning 55 26 119
Capital gain 120 25 55
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400
360
350 339
300
250
200
165
150
Rank I
119
Rank II
Rank III
100
60 55
54 52 50
50
0
t
ng
in
es
ga
ni
er
lan
l
nt
ta
/i
pi
xp
Ca
nt
Ta
de
divi
of
rm
fo
n
ei
m
co
in
lar
gu
Re
Figure : 11
On analyzing motives for investment in capital market it was found that capital gain was
the most important factor that influences investment decisions followed by regular income and
tax planning.
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Q8.When the Respondents were asked about the factors they consider while selecting a
broker, the following responses were obtained.
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400 387
350 336
300
250 237
195
200
177
158
150 Rank I
Rank II
118 Rank III
97
92 89
100 86
62
45 48
50
12
0
e
es
its
s
gin
on
ag
iti
lim
ar
er
lati
r
cu
em
ok
it
Re
se
ed
Br
nc
al
Cr
of
va
on
r
ad
fe
rs
ns
Pe
ss
tra
Le
&
ts
en
ym
pa
nt
ue
eq
Fr
Figure : 12
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CHAPTER - 6
BIBLIOGRAPHY
BOOKS :-
Kotler Philip, Marketing Management: 13th Edition, 2006, Prentice Hall of
India Ltd., New Delhi.
MAGAZINE :-
Business World
News Papers
WEBSITES :-
www.angelbroking.com
www.sharekhan.com
www.icicidirect.com
www.indiabulls.com
www.5paisa.com
www.scribd.com
www.google.com
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