h.d.f.c Securities Final

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A PROJECT REPORT

ON

³RISK MANAGEMENT REGARDING WORKING OF A

BROKING FIRM, AND ITS INVESTORS ´

AT

H.D.F.C SECURITIES LTD CENTRAL UNIVERSITY OF HIMACHAL PRADESH

(Session 2010-2012)

Submitted To Submitted ByMr. Shabab Ahmad Naman RastogiAssistant professor MBA (E.D)CUHP II Semester

CUHP10MBAED15



2

D E C L A R A T I O N

I, the undersigned, hereby declare that the Project Report entitled ³RISK

MANAGEMENT REGARDING WORKING OF A BROKING FIRM, AND ITS

INVESTORS´ written and submitted by me to the CENTRAL UNIVERSITY,

HIMACHAL PRADESH SHAHPUR is my original work and the conclusions

drawn therein are based on the material collected by myself.

NAMAN RASTOGI

M.B.A [E.D]



3

ACKNOWLDGEMENT

It¶s a great privilege that I have done my project in such a well-organized and

diversified organization. I am great full to all those who helped and supported me

in completing the project.

I am thankful to our ASSITANT PROFESSOR SHABAB AHMED for helping

me in completing the project.

I am also thankful to my parents, all college staff and specially my friends for

helping me directly or indirectly in my project. Thank u all.

NAMAN RASTOGI



4

INDEX

S. No. Contents

Executive Summary

1INTRODUCTION

Basic Concepts of the Topic Risk Management

Need for the StudyStatement of the ProblemObjectives of the ProjectResearch HypothesisScope of the Study

2 PROFILE OF THE ORGANISATION Name of the OrganisationVision and MissionHistory and BackgroundCompetitors of H.D.F.C Sec. Ltd.About H.D.F.C Sec. Ltd.

3 RESEARCH DESIGN & METHODOLOGYIntroduction to Research MethodologySampling DesignSources of Data CollectionLimitations of Study

4 DATA PRESENTATION, ANALYSISINTERPRETATION

5 FINDINGS & SUGGESTIONSMain Findings (Conclusions)Policy SuggestionsScope of Development

6 BIBLIOGRAPHY

7 ANNEXURE



5

EXECUTIVE SUMMARY

Project Title: - ³Risk Management Regarding Working of a Broking Firm and

Its Investors´

Name of the Organization: - HDFC SECURITIES LTD Introduction: - All investments are risky, whether in stock, capital market,

banking, financial sector, real estate, bullion, gold etc. The degree of risk however

varies on the basis of the features of the assets, investments instrument, the mode

of investment, time frame or the issuer of the security etc.

Risk can be defined as ³Possibility of suffering losses´

³The chance of something happening that will have an impact upon objectives. It

is measured in terms of consequences and likelihood´.

Risk management in a Broking Industry is a new concept in India, since it

Posses¶ maximum risk in the financial market, managing it was felt most essential

by the regulatory bodies and exchanges.

Objectives of the Project:-

To get familiar with the working of a broking firm.

To understand various risks involved in the broking firm.

To understand various risk for the investors of the broking firm.

To manage and reduce the identified risks.

Need of the Study:-

Create awareness among investors about the different risks involved in the

broking firms.

Understand the total transparency and automation of broking firm

Give basic knowledge to investors regarding risk in broking firm

Also understand the equity market and different way of trading



6

Research Hypothesis: - Capital Market is growing very fast, turnover wise as

well as area of operation wise. The activities have reached through lengths and

breadth of the country. So there is increase in various broking firms. The working

of a broking firm is a very risky job because risk is involved in each and every

activity of the business.

Conclusions :-

The researcher found that the working of a broking firm is a very risky job

because risk is involved in each and every activity of the business.

The risk prevailing in the business is recognized therefore an efficient risk

management department is essential in every broking firm.

Broking business is a client-based business. The recent trend of

voluminous increase in investors has also increased the risk involved in it.

There is need of continuous up gradation of internal control measures

Staff in a broking firm is continuous busy and due to which they are always

under stress.

Suggestions:-

An Organization should have a risk management function that is

independent of its trading staff i.e. personnel responsible for the risk

management function should be separate from trading floor personnel. A periodical compliance review should be conducted to ensure conformity

with the rules and regulations.

The designated compliance officer should perform a review of trading

Practices annually.

Limitations of Study:-

To understand the overall working of share market, the period of 60 days is

not enough. Moreover, very few investor and agents have a detail knowledge of the

study.

The study was conducted in dharamsala only, which restricted the scope of

the study.



7

CHAPTER I

INTRODUCTION

Basic Concepts of the Topic

RISK MANAGEMENT

Risk is defined as ³possibility of suffering losses´

This risk in itself is not bad, risk is essential to progress, and failure is often key

part of learning, but we must learn to balance the possible negative consequences

of risk against the potential benefits of its associated opportunities. This is risk management.

Principles of Risk management are as follows

1 Global Perspective

- Viewing development within the context of large level developments

-

Recognizing both the potential value of opportunity and the potentialimpact of adverse effects

1 Forward looking view

- Thinking towards tomorrow, identifying uncertainties, anticipating

potential outcomes

- Managing project resources and activities while anticipating uncertainties

2 Open Communications

- Encouraging free-flowing information at and between all project levels

- Enabling formal, informal, and proper communication

- Using processes that value the individual voice (bringing unique

knowledge and insight to identifying and managing risk)



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4 Integrated management

- Making risk management an integral and vital part of project management

- Adapting risk management methods and tools to a projects infrastructure

and culture

5 Continuous processes

- Sustaining constant vigilance

- Identifying and managing risks routinely through all phases of the projects

lifecycle

6 Shared product vision

- Mutual product vision based on common purpose, shared ownership, and

collective communication

- Focusing on results

7 Team work

-

Working cooperatively to achieve common goal- Pooling talents, skills, and knowledge

RISK MANAGEMENT IN A BROKING FIRM

Risk management in a Broking Industry is a new concept in India, since it poses

maximum risk in the financial market, managing it was felt most essential by the

regulatory bodies and exchanges. Therefore NSE introduced for the first time in

India, risk containment measures that were common internationally but were

absent from the Indian Securities Market. NSCCL has put in place a

comprehensive risk management system, which is constantly upgraded to pre-



9

empt market failures. These measures were taken to reduce the brokers¶ risks.

Whereas SEBI has given some guidelines under Investors Protection to protect

investors risks. NSE has given the following risk management measures

Some Risk management are also taken by BSE they are as follows

1. Know your client scheme

Under the procedure the member brokers of the exchange are compulsory

required to obtain detailed information of clients prior to commencement

of any transactions with new clients. A similar procedure is also to be

followed for existing clients. This information is to be made available to

the exchange authorities whenever called for. In case the member broker fails to furnish the same it is viewed seriously.

2. Verification of shares at members office

The exchange has outlined the process i.e. in case the transaction in a script

with one particular client in a settlement exceeds Rs 10 lakhs then the

member are to send the photocopies of the transfer deeds and the share

certificates to the company/ registrar for verification of the material particulars. The basic idea behind the introduction of this procedure is to

prevent fake/forged/stolen shares from being introduced in the market.

3. Inspection

The department is carrying out inspection of the member brokers records

as regards compliance of the risk management procedures

4. Insurance

The exchange presently has in place insurance policies to protect itself in

the event of losses on account of fire, damage to computer systems and a

comprehensive policy that covers risks faced by the exchange, its member

brokers and the clearinghouse.



10

The risks covered under the basic cover of the policy are detailed as below.

- Loss to members on account of infidelity of employees

- Loss of member on account of fake/forged/ stolen shares being introduced

by his clients

- Direct financial losses suffered by the member broker on account of

physical loss, destruction, theft or damage to securities and cash.

- Loss on account of securities lost in transit

- Loss suffered on account of incomplete transaction

- Loss sustained as final receiving member on exchange on account of

default of the introducing member

- Loss on account of errors and omission- Directors and officials liability cover

Need for the Study Create awareness among investors about the different risks involved in the

broking firms.

Understand the total transparency and automation of broking firm

Give basic knowledge to investors regarding risk in broking firm

Also understand the equity market and different way of trading

Convert our theoretical knowledge in to practical knowledge

Statement of the Problem

There are several financial security companies playing their roles in

Indian equity market. But People don¶t have basic knowledge regarding

stock market. So they not understand there is various risk involved in theworking of broking firm. Due to none availability of the proper guidance

most of the person take stock market as gambling.



11

Objectives of the Project

To get familiar with the working of a broking firm.

To understand various risks involved in the broking firm.

To understand various risk for the investors of the broking firm.

To manage and reduce the identified risks.

Research Hypothesis

Capital Market is growing very fast, turnover wise as well as area of

operation wise. The activities have reached through lengths and breadth of

the country. So there is increase in various broking firms. The working of a

broking firm is a very risky job because risk is involved in each and every

activity of the business.

1.2 Scope of the Study

Company can take review from market through this project. Management

people can get overall idea about the risk management regarding working

of broking firms. They also understand what information provide to

investor for avoiding the risk.



12

C R II

PROFI LE OF T E ORGANISA T ION

NAM E

H.D.F.C S E CURI T IE S LT D.

Corporate Off i e:

H.D.F.C SECURITES LTD CORPORATE OFFICE LOWER PAREL WEST, MUMBAI 400013

W ebs ite : www.hdfcsecur ities.com E a il : i fo@ hdfcsecur ites. i

VISION & MISSION-

Company¶s V ision ±

³To bu ild HDF C SEC R ITIES as a g loba ll trus ted brand in the f inanc ial

serv ices doma in and presen t it as the µInvestmen t Gateway of Ind ia´.

Company¶s M iss ion ±

³Prov iding comp lete f inanc ial care dr iven by the core va lues of d iligence and

transparency´.



13

History and background

HDFC Bank Ltd is a major Indian financial services company based in Mumbai. TheBank is a publicly held banking company engaged in providing a wide range of bankingand financial services including commercial banking and treasury operations. The Bank at present has an enviable network of 1, 725 branches spread in 780 cities across India.They also have one overseas branch in Bahrain and two representative offices in UAEand Kenya. The Bank has two subsidiary companies, namely HDFC Securities Ltd andHDB Financial Services Ltd. The Bank has three primary business segments, namely

banking, wholesale banking and treasury. The retail banking segment serves retailcustomers through a branch network and other delivery channels. This segment raisesdeposits from customers and makes loans and provides other services with the help of specialist product groups to such customers. The wholesale banking segment providesloans, non-fund facilities and transaction services to corporate, public sector units,government bodies, financial institutions and medium -scale enterprises. The treasurysegment includes net interest earnings on investments portfolio of the Bank. The Bank`sATM network can be accessed by all domestic and international Visa/MasterCard, VisaElectron/Maestro, Plus/Cirrus and American Express Credit/Charge cardholders. TheBank`s shares are listed on the Bombay Stock Exchange Limited and The NationalStock Exchange of India Ltd. The Bank`s American Depository Shares (ADS) are listedon the New York Stock Exchange (NYSE) and the Bank`s Global Depository Receipts(GDRs) are listed on Luxembourg Stock Exchange. HDFC Bank Ltd Was incorporatedon August 30, 1994 by Housing Development Finance Corporation Ltd. In the year 1994 , Housing Development Finance Corporation Ltd was amongst the first to receivean `in principle` approval from the Reserve Bank of India to set up a ban k in the privatesector, as part of the RBI`s liberalization of the Indian Banking Industry. HDFC Bank commenced operations as a Scheduled Commercial Bank in January 1 995. In the year 1996 , the Bank was appointed as the clearing bank by the NSCCL. In the y ear 1 997, thelaunched retail investment advisory services. In the year 1 998, they launched their firstretail lending product, Loans against Shares. In the year 1 999, the Bank launchedonline, real-time Net Banking. In February 2000, Times Bank Ltd, owned by Bennett,Coleman & Co. / Times Group amalgamated with the Bank Ltd. This was the firstmerger of two private banks in India. The Bank was the first Bank to launch anInternational Debit Card in association with VISA (Visa Electron). In the year 2001,they started their Credit Card business. Also, they became the first private sector bank to

be authorized by the Central Board of Direct Taxes (CBDT) as well as the RBI to acceptdirect taxes. During the year, the Bank made a strategic tie -up with a Bangalore-based

business solutions software developer, Tally Solutions Pvt Ltd for developing andoffering products and services facilitating on-line accounting and banking services toSMEs. During the year 2001-02 the bank was listed on the New York Stock Exchange.Also, they made the alliance with LIC for providing online payment of insurance



14

premium to the customers. During the year 2002-0 3, the Bank increased the number of branches from 1 71 Nos to 2 31 Nos and the size of the Bank`s ATM network expandedfrom 479 Nos to 732 Nos. They also expanded their presence in the `merchantacquiring` business. During the year 200 3 -04, the Bank expanded the distributionnetwork with the number of branches increased from 2 31 Nos to 312 Nos and the size of

the Bank`s ATM network increased from 732 Nos to 910 Nos. In September 200 3, theyentered the housing loan business through an arrangement with HDFC Ltd, wherebythey sell HDFC Home Loan product. During the year 200 4 -05, the Bank expanded thedistribution network with the number of branches increased from 312 Nos to 467 Nosand the size of the Bank`s ATM network increased from 910 Nos to 11 47 Nos. Duringthe year 2005-0 6, the Bank launched the `no-frills account`, a basic savings accountoffering to the customer. Also, the distribution network was expanded with the number of branches increased from 467 Nos (in 211 cities) to 5 35 Nos (in 22 8 cities) and thenumber of ATMs from 11 47 Nos to 1 323 Nos. During the year 200 6 -07, the distributionnetwork was expanded with the number of branches increased from 5 35 Nos (in 22 8

cities) to 684 Nos (in 316 cities) and the number of ATMs from 1 323 Nos to 1 605 Nos.They commenced direct lending to Self Help Groups. Also, they opened a dedicated

branch for lending to SHGs, in Thudiyalur village (Tamil Nadu). In September 2 8,2005, the Bank increased their stake in HDFC Securities Ltd from 2 9.5% to 55%.Consequently, HDFC Securities Ltd became a subsidiary of the Bank. During the year 2007-08, the Bank added 77 Nos new branches take the total to 761 Nos branches. Also,372 Nos new ATMs were also added taking the size of the ATM network from 1 605

Nos to 1 977 Nos. HDB Financial Services Ltd became a subsidiary company with effectfrom August 31, 200 7. In June 2, 200 7, the Bank opened 1 9 branches in a day in Delhiand the National Capital Region (NCR). During the year 200 8 -09, the Bank expanded

their distribution network from 761 branches in 327 cities to 1, 412 branches in 52 8 Indian cities. The Bank`s ATMs increased from 1, 977 to 3,295 during the year. As per the scheme of amalgamation, Centurion Bank of Punjab Ltd was amalgamated with theBank with effect from May 2 3, 200 8. The appointed date for the merger was April 01,2008. In October 200 8, the bank opened their first overseas commercial branch inBahrain. The branch offers the bank`s suite of banking services including treasury andtrade finance products for corporate clients and wealth management products for Non -resident Indians. During the year 200 9 -10, the Bank expanded their distribution network from 1, 412 branches in 52 8 cities to 1, 725 branches in 779 cities. The Bank`s ATMsincreased from 3,295 Nos to 4,232 Nos during the year. As on June 30, 2010, the total

number of branches (including extension counters) and the ATM network stood at 1 725 branches and 4393 ATMs respectively.



15

COMPETITORS OF HDFC SECURITIES:-

There are several financial security companies playing their roles in Indian equity

market. But H.D.F.C SECURITIES faces competitions from these few companies.

ICICI Direct.com

Share Khan (SSKI)

Kotak Securities.com

India Bulls

RELIGARE

5paisa.com

Motilal Oswal

IL&FS

Karvy



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About HDFC Securities Limited

One of the leading integrated financial services groups of India

Diverse range of offerings

Client base of more than 5000,000 and growing across the retail, wealthand Institutional Spectrum.

Pan India and global footprint.

Width and depth of management leading a formidable employee base.

Best-in-class Research.

³Sweetly placed´ to spot new opportunities and power ahead.



17

CHAPTER IIIRESEARCH DESIGN &

METHODOLOGYIntroduction to Research Methodology-

Research Methodology comprises defining and redefining the problem,

formulating hypothesis or suggesting solution, collecting, organizing and

evaluating the data, making deduction and reaching to conclusions and determines

whether the formulated hypothesis is right and wrong.

Research Methodology is a way to solve research in study and solving research

problems along with logic behind them are defined through research

methodology. Thus while talking about research methodologies we are not only

talking of research methods but also consider the logic behind the methods.

During my project, I collected data through various sources primary & secondary.

Sampling Design ±

I have taken sample size of 50 respondents. Because the population is too large so

it is difficult to survey.

Any organization whether big or small, private or public need different types of

information are to know its popularity. I have gathered secondary data and

primary data and collected information from the combination of these two data.



18

Sources of Data Collection-

Primary source includes:-

1)

Discussion with branch manager

2) Discussion with investors of the firm.

3) Data collected from questionnaire.

SECENDORY SOURCES:-

1) Various books related to stock market

2) Books related to Financial Management

3) Web sites were used as the vital information source

4) References given by Relationship Manager

LIMITATIONS OF STUDY

To understand the overall working of share market, the period of 30 days is

not enough.

Moreover, very few investor and agents have a detail knowledge of the

study.

The study was conducted in dharamsala only, which restricted the scope

of the study

The data provided by the investor and the agents can¶t be held true as

100% correct

The study was conducted to understand with respect to Risk involved in

broking firm and investors, which is a part of the equity share market.



1

CHAPTE R IVDA T A PR E SE NT AT ION,

ANA L SIS &IN TE RPR ET AT ION

1) Preference of Investment:

Financ ia l Instruments No. Of Investors (50)

Shares

Mutual Funds

Bonds

Der ivatives 1

Source : Pr imary Da ta (Tab le No. 5.1)

Chart 5.1

Interpretat ion : Th is shows that although the mu tual funds marke t is on the r ise

yet the mos t favored inves tmen t continues to be in the Share Marke t. So, w ith a

more transparen t system, inves tment in the S tock Marke t can def initely be

increased.

75%

16%7% 2%

Preference of Investment

Only shares

Mutual funds

Bonds

Derivatives



20

2) Awareness of online Share trading :

YES NO45 5

Source: Primary Data (Table No. 5.2)

Chart 5.2

Interpretation : With the increase in cyber education, the awareness towards

online share trading has increased by leaps and bounds. This awareness is

expected to increase further with the increase in Internet education.

Yes91

N ¡

9

Awareness Of Online Share Trading



21

3) Awareness of H.D.F.C secur it ies as a Brand.

YES NO2 21

Source : Pr imary Da ta (Tab le No. 5. )

Chart 5. 3

Interpretat ion : Th is p ie char t shows that H.D.F. C SEC R ITIES has a

reasonab le amoun t of Brand awareness in terms of a prem ier R etail stock brok ing

company. The company to increase its marke t share over its compe titors shou ld

fur ther leverage this brand image.

58%

42%

AWARENESS OF H.D.F.C

SECU RITI ES AS A B RAND

YES

¢ O



22

4) Awareness of the fac ilit ies prov ided by HDFC S E CURI T IES :

YES NO

2


Chart 5. 4

Interpretat ion : Although there is suff iciently low brand equ ity among the targe t

aud ience ye t, it is to be no ted that the cus tomers are no t aware of the fac ilities

prov ided by the company mean ing thereby, that, the company shou ld concen trate

more towards promo tiona l tools and increase its focus on produc t awareness

rather than brand awareness.

17%

83%

Awa re e ss f hd f c secur iti e s f a c iliti e s

Yes

£ ¤



2

5) DE MA T Account Market :

BROKING FIRMS INV E ST ORS

HDF C Secur ities 1

ICICI D irec t 15

Kotak Secur ities

Ind ia Bulls 12

Others

Source : Pr imary Da ta (Tab le No. 5.5)

Chart 5.5

Interpretat ion : Th is shows that even w ith suff iciently h igh Brand Equ ity,

H.D.F. C SEC R ITIES ranks on ly 2ND amongs t the Dema t accoun t prov iders.

This is probab ly because of two ma in reasons :

1. L ack of promo tion and unfocussed approach towards Produc t awareness

2 . Non ± transparen t marke ting po licies of the company

Hence, the company shou ld crys talli e its produc ts and shou ld indu lge in

aggress ive marke ting and promo tion.

12%

31%

7%

24%

26%

Dem a t Acc u t M a rke tICICI Direct

Kotak Securities

IndiaBulls

Others



2

6) Sat isfact ion leve l among Customers w ith current Broker :

YE S NO

Source : Pr imary Da ta (Tab le No.5. )

Chart 5.6

Interpretat ion : Th is p ie char t accen tuates the fac t that Strategic marke ting, today,

has gone beyond on ly mee ting Sa les targe ts and genera ting prof it volumes. I t

shows that all the compe titors are s tr iving hard no t only to woo the cus tomers bu t

also to make them Brand loya l by genera ting cus tomer sa tisfac tion.

92%

8% SATI SFACTIO N LEVEL AMO NG

CSTOM ERS W ITH CU RREN T

BROK ER

YES

¥ O



25

7) How often do you trade:

FR EQ UE NCY OF

T RADING

NO. OF INV E ST ORS

Daily 5

eek ly 1

Monthly 2

Year ly


Chart 5. 7

Interpretat ion : In sp ite of the huge re turns that the share marke t prom ises, we see

that there is s till a dear th of ac tive traders and inves tors. Th is is because of the non ± transparen t struc ture of the Ind ian share marke t and the skep ticism of the targe t

aud ience that is genera ted by the vo latilit y of the s tock marke t. It requ ires eff icient

bureaucra tic interven tion on the par t of the Governmen t.

9 %

27%

53%

11%

FREQ U ENCY OF T RADI NG

DAILY

WEEKLY

¦ O § THLY

YEARLY



2

8) Percentage of earn ings invested in Share Trad ing :

% of E arn ing

Invested

No. of Investors

U p to 10 % 5

U p to 25 %

U p to 50 %

Above 50 % 2


Chart 5. 8

Interpretat ion : Th is shows that peop le inves t only up to 10% of their earn ings in

the s tock marke t, aga in re itera ting the vo latile and non- transparen t struc ture of the

Ind ian s tock marke t. Hence, effec tive and eff icient steps shou ld be under taken to

woo the cus tomers to inves t more in the lucra tive s tock marke t.

Percetag

ef

ea

ri gs

i

vest

edi

Sh a re t r a d i g

Up to 10%--71%

Up to 25%--19%

Up to 50%-- 7%

Above 50%--3%



27

CHAPTER V

FINDINGS & SUGGESTIONS

MAIN FINDINGS (CONCLUSION)

Working with a broking firm especially was really a great experience.

The researcher found that the working of a broking firm is a very risky job

because risk is involved in each and every activity of the business.

The risk prevailing in the business is recognized therefore an efficient risk

management department is essential in every broking firm.

Capital Market is growing very fast, turnover wise as well as area of

operation wise. The activities have reached through lengths and breadth of

the country. All these necessitated in the introduction of latest technology

in the form of advanced software¶s.

Broking business is a client-based business. The recent trend of

voluminous increase in investors has also increased the risk involved in it.

There is need of continuous up gradation of internal control measures

Staff in a broking firm is continuous busy and due to which they are always

under stress.



28

POLICY SUGGESTIONS

An Organization should have a risk management function that is

independent of its trading staff i.e. personnel responsible for the risk management function should be separate from trading floor personnel.

Senior management should regularly evaluate the risk management

procedure in place to ensure they are appropriate and sound.

Senior management should also foster and participate in active discussions

with the board of directors, sub brokers, franchisee, staff of risk management function and investors regarding procedures for measuring

and managing risk.

Highly qualified staff not only in front office positions such as trading

desk, relationship officer and sales but also all back office functions

responsible for risk management and internal control.

Risk management or control function should be able to produce a risk

management report that highlights positions, limits and excess on a basis

commensurate with trading activity. This report should be sent to senior

management, reviewed, signed and returned to control staff.

Auditors should perform a comprehensive review of risk management

annually, emphasizing segregation of duties and validation of data

integrity.

The designated compliance officer should perform a review of trading

Practices annually.



29

SCOPE FOR DEVELOPMENT OF HDFC (SECURITIES )

HDFC SECURITIES have set themselves very stringent and high standards of

Risk Management. However I would like to make a few points, which would helpthe organization in a big way.

Recording of trader and dealer telephone calls, which will facilitate to

resolve the disputes at different levels.

Fast and frequent interaction between the risk managers, the sub brokers

and client will help in reducing the delay in giving limits.

Periodical visits to the sub brokers and franchisee by h.d.f.c securities

personnel for interaction and inspection will help in minimizing the risk to

great extent.

Regarding dealers risks, well-trained and less stressed dealers will help in

reducing the mistakes. It has been observed that most of the mistakes are

done when they are under stress. HRD must help in this matter.

In settlement department the persons have be appointed with utmost care

and their periodic check can be conducted to avoid any employee fraud.

Along with large client base, quality of clientele will help in balanced

growth of business and minimizing the risk.



30

CHAPTER VI

BIBLIOGRAPHY

FINANCIAL SERVICES AND MARKETS

Author: - Dr. Gurusamy

RESEARCH METHODOLOGY METOHDS & TECHNI UES

Author: - C.R.Kothari

PROJECT REPORT WRITING

Author: - M.K.Rampal & S.L. Gupta

www. hdfcsecurities.com

www.bseindia.com

www.google.co.in



31

ANNEXUREUESTIONNAIRE

1. In which of these Financial Instruments do you invest into?Shares Mutual Funds Bonds Derivatives

2. Are you aware of online Share trading?

Yes No

3. Heard about H.D.F.C securities?

Yes No

4. Do you know about the facilities provided by H.D. F.C securities?

Yes No

5. With which company do you have your DEMAT account?

HDFC SECURITIES Kotak Mahindra India Bulls

Others (please specify) __________

6. Are you currently satisfied with your Share trading company?

Yes No

7. How often do you trade?

Daily Weekly Monthl y Yearly

8. What percentage of your earnings do you invest in share trading?

Up to 10% Up to 25% Up to 50% Above 50%

9. Is broking firms are always risk free?

Yes No



Q 10.What more facilities do you think you require with your DEMAT

account?

---------------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------

Additional Information (optional)

Name:

Age:

Phone No:

Occupation:

h.d.f.c Securities Final

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