INTRODUCTION
With the mission to institutionalize and implement a process driven approach, the Institutional Broking Services at Religare cater to the investment needs of leading corporate houses and institutions. Backed by incisive research, this division would like to be seen as a one stop investment gateway and knowledge repository for its clients, servicing their unique and sophisticated needs.
Our Institutional Broking desk is currently dealing with almost all the leading client groups, like Mutual Funds, FIIs, Banks and Insurance Companies.
The Religare Edge: Highly skilled, dedicated dealing, research and sales teams Dealing capabilities on the NSE, BSE and in the cash and derivatives segment Access to international expertise and global practices established in mature financial markets An international distribution network servicing the needs of institutions & corporate houses through a large global network and with the ability to execute globally.
RELIGARE SECURITIES LIMITED
1. Member of National Stock Exchange of India and Bombay Stock Exchange of India.
2. Depository Participant with National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL). A SEBI approved Portfolio Manager. RSL provides platform to all segments of the investor to leverage the Immense opportunity offered by equity investing in India either on their own or through managed funds in Portfolio Management.
The ARN No. of the Religare Securities Ltd. is 33764. The ARN No. isrequired by to be available with the broker who deals on behalf of investors or sell the mutual funds of the different companies present in the market.
OBJECTIVE OF THE STUDY
The growth of the share markets in India has opened more
avenues for investment to average Indian investor. Indian
income levels are raising at a much faster rate, as a result
the demand for investment options is also on the rise.
However, the investors need to have a thorough knowledge
of the different markets and their changing trends.
Our objective is to find how Religare identifies, build up
customer network with individuals and strengthen the
mutual benefits of both the sides.
Also in this study we have identified the various challenges
lying ahead of Religare and how Religare has so far faired
in dealing with the existing competition. In this project we
have tried to look for the opportunities for Religare in the
existing market and how it can exploit it to be leader in its
industry.
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 thestudy.
➢ The study was conducted in Pune only, which restricted the scopeof the study
➢ The data provided by the investor and the agents can’t be held true as100% correct.
➢ The study was conducted to understand with respect to Risk involved inbroking firm and investors, which is a part of the equity share market.
Literature Review
No one has done work over there yet, on this topic.In literature review I read various documents provided by the employees of Religare Sec. In this I refer the Demat form of the Religare Sec. And Visiting various websites.
In this I also read the various modules of NCFM. And also read the following books:
i) FINANCIAL SERVICES AND MARKETSAuthor: - Dr. Gurusamy
ii)RESEARCH METHODOLOGY METOHDS & TECHNIQUESAuthor: - C.R.Kothari
iii)PROJECT REPORT WRITINGAuthor: - M.K.Rampal & S.L. Gupta
COMPANY PROFILE
RELIGARE SECURITIES LTD.
Religare, a Ranbaxy promoter group company, is one of the
leading integrated financial services institution of India. The
company offers a large and diverse bouquet of services ranging
from equities, commodities, insurance broking, to wealth advisory,
portfolio management services, personal finance services,
Investment banking and institutional broking services. The services
are broadly clubbed across three key business verticals- Retail,
Wealth management and the Institutional spectrum. Religare
Enterprises Limited is the holding company for all its businesses,
structured and being operated through various subsidiaries.
Religare’s retail network spreads across the length and breadth of
the country with its presence through more than 900 locations
across more than 300 cities and towns. Having spread itself fairly
well across the country and with the promise of not resting on its
laurels, it has also aggressively started eyeing global geographies.
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 financial care driven by the core values
of diligence and transparency.
PRODUCTS OFFERED
Retail Spectrum: To cater to a large number of retail clients by offering all
products under one roof through the Branch Network and Online mode.
1. Equity and Commodity Trading.
2. Personal Finance Services.\
Mutual funds
Insurance
Savings products.
3. Personal credit
Personal loans
Loans against shares
4. Online investments portal.
INSTITUTIONAL SPECTRUM: To build strong relationships with
corporate and institutions.
1. Institutional equity broking
2. Investment Banking.
Merchant banking
Transaction advisory
Corporate finance.
WEALTH SPECTRUM:
To provide customized wealth advisory services to High net worth
Individuals.
Wealth advisory services:
1. Portfolio Management Services [PMS]
2. International Advisory Fund Management Services.
3. Priority Equity Client Services
4. Arts Initiative.
NEW INITIATIVES:
1. Religare is on a fast and ambitious growth trajectory with some
interesting plans in the pipeline.
2. AEGON Religare Life Insurance - Life Insurance Company, a Joint
Venture with AEGON.
3. Religare AEGON AMC - Asset Management Company, a Joint
Venture with AEGON.
4. Religare Finance - Personal Loans / Credit Cards / Loan against
Property / Mortgage & Reverse Mortgage.
THEORITICAL STUDY
COMPARATIVE ANALYSIS OF DIFFERENT
PLAYERS IN THE MARKET
MAJOR PLAYERS IN THE REGION
RELIGARE SECURITIES
ICICI DIRECT
INDIA INFOLOINE SECURITY PVT. LTD.
HDFC SECURITIES
INDIA BULLS
KOTAK SECURITIES
RELIANCE MONEY
SHARE KHAN SECURITIES
MOTILAL OSWAL
ANAND RATHI SECURITIES
HEM SECURITIES
ICICI DIRECT
ICICI Web Trade Limited (IWTL) maintains www.icicidirect.com (herein after referred to as website) where as IWTL is an affiliate of ICICI bank limited and the website is owned by ICICI bank limited. IWTL has launched and established an online trading service on the website.
Products and services
Investing in mutual funds Personal finance Computer services features IPO’s Margin trading Margin plus trading Call trading Trading on NSE/BSE
INDIA INFOLINE SECURITIES PVT.LTD.
Indiainfoline.com Securities Pvt. Ltd. Is a wholly owned subsidiary of Indiainfoline.com ltd. And is the stock broking arm of Indiainfoline.com. The subsidiary was formed to comply with regulatory guidelines. www.5paise.com is a focused website of online stock group. IILSPL has applied for trading membership of the BSE under securities and exchange board of India (stock brokers and sub brokers) rules 1992.
Products offered by India Infoline Securities Pvt. Ltd. Stock market- IISPL deals in stock market by trading in equity and derivatives.Personal finance- it deals in mutual funds and insurance.Other trading- it provides services in stock and commodity trading (through internet).
HDFC
HDFC securities are the subsidiary of (housing development financial corporation). www.hdfcsec.com would have an exclusive discretion to decide the customers who would be entitled to it’s online investing services www.hdfcsec.com also serves the right to decide on the criteria based on which customers would be chosen to participate in these services. The present website (www.hdfcsec.com) contains features of services that they offer/propose to offer in due course. The launch of new services in subjected to the clearance of the regulators i.e., SEBI, NSE, BSE.
Products offered by HDFC securities
Online trading for resident and no resident Indians Cash-n-carry on both NSE and BSE Day trading on both NSE and BSE Trade in futures and options on NSE Online IPO’s Telephone based broking (equity and derivatives)
INDIABULLS
Indiabulls was incorporated as GPF securities Pvt Ltd on June 9, 1995. The name of company was changed to ORBIS securities Pvt Ltd on Dec 15, 1995 to change the profile of the company and subsequently due to the conversion of the company into a public limited company. The name was further changed to Orbis securities limited on Jan 5, 2004. The name of the company was again changed to INDIABULLS Securities Ltd on Feb 16, 2004 so as to capitalize the brand image of the term ‘INDIABULLS’.
Products offeredEquity and debt stock broking, Insurance Commodity trading, Depository service, Derivative broking services, Equity research service, Mutual fund distribution & IPO distribution
SHAREKHAN SECURITIES
Sharekhan securities is one of the leading retail of citi venture which is running successfully since 1922 in the country. Earlier it was the retail broking arm of the Mumbai based SSKI Group which is eight decades of experience in the stock broking business. Sharekhan offers the customers a wide range of equity related services including trade execution on BSE, NSE, derivatives, depository services, Online trading, investment advice etc.
Products offered
Equity trading platform (online /offline) Commodities trading platform (online/offline) Portfolio management services Mutual funds advisory and distribution Insurance distribution
KOTAK SECURITIES
Kotak Securities Limited, a subsidiary of Kotak Mahindra Bank, is the stock broking and distribution arm of the Kotak Mahindra Group. The company was set up in 1994. Kotak Securities is a corporate member of both The Bombay Stock Exchange and The National Stock Exchange of India Limited. Its operations include stock broking and distribution of various financial products - including private and secondary placement of debt and equity and mutual funds. Currently, Kotak Securities is one of the largest broking houses in India with wide geographical reach. The company has four main areas of business: (1) Institutional Equities, (2) Retail (equities and other financial products), (3) Portfolio Management and (4) Depository Services.
RELIANCE MONEY
Reliance Money, a Reliance Capital company and part of the Reliance Anil Dhirubhai Ambani Group is a comprehensive financial services and solution provider. It is a one-stop-shop, providing end-to-end financial solutions (including mobile and web-based services). It has the largest non-banking distribution channel with over 10,000 outlets and 20,000 touch points spread across 5,165 cities/ towns; catering to the diverse needs of over 3 million existing customers.
Reliance Money endeavors to change the way investors transact in financial markets and avails financial services. It provides customers with access to Equity, Equity and Commodity Derivatives, Offshore Investments, Portfolio Management Services, Wealth Management Services, Investment Banking, Mutual Funds, IPO’s, Life and General Insurance products and Gold Coins. Customers can also avail Loans, Credit Card, Money Transfer and Money Changing services.
Reliance Capital is one of India's leading and fastest growing private sector financial services companies, and ranks among the
top 3 private sector financial services and banking groups, in terms of net worth.
RELIGARE SECURITIES:
COMPANY BACKGROUND:
Religare, a Ranbaxy promoter group company, is one
of the leading integrated financial services institutions
of India.
Focused on providing equity solutions to every
segment.
Largest ground network of more than 900 shops in
various locations in 300 Cities.
ACCOUNT TYPES:
1. RACE.[ online]
2. RALLY [online & offline]
PRICING OF RALLY ACCOUNTS:
1. ACCOUNT OPENING – Rs.500/-
2. BROKERAGE [NEGOTIABLE]
0.03% - INTRADAY
0.3% - INTERDAY/ DELIVERY
Rs.100 [+-] DERRIVATIVES ( FUTURES,
CALLS & PUTS)
3. ACCOUNT MAINTENANCE CHARGES- Rs.250
PER ANNUM.
4. RALLY -PRO provides you with online software
[ODIN] that enables the investor to place order himself
and observe the market. For this Religare charges
Rs.1800 which includes advance brokerage which is
valid for one year. The rest of the amount after one year
is refunded in the investor’s account.
INDIA BULLS:
COMPANY BACKGROUND:
India Bulls is a retail financial services company present in 78
locations covering 65 cities. It offers a full range of financial
services and Products ranging from Equities to Insurance. 500 +
Relationship Managers who act as personal financial advisors.
PRICING OF INDIA BULLS ACCOUNTS:
1. ACCOUNT OPENING: Rs.1200 ( includes software
charges )
2. BROKERAGE SLAB [ NEGOTIABLE ]
0.01% - 0.03% - INTRADAY
0.1% - 0.3% - INTERDAY/DELIVERY
3. INITIAL MARGIN: NIL
4. AMC: NIL FOR THE FIRST YEAR & THEN Rs. 350
EVERY YEAR.
ICICIDIRECT:
COMPANY BACKGROUND:
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.
PRICING OF ICICIDIRECT ACCOUNTS:
1. ACCOUNT OPENING: Rs. 750 [N.R]
2. BROKERAGE SLAB: ( non-negotiable )
0.05% - INTRADAY
0.75% - INTERDAY/DELIVERY
3. Provides 3 in 1 advantage i.e. 1) savings account; 2) Demat
account; 3) broking account.
4. Brokerage slab differs as per the investment made by the
client.
SHAREKHAN:
COMPANY BACKGROUND:
Sharekhan is online trading company of SSKI group, provider of
India-based investment banking and corporate finance service.
Sharekhan is one of the largest stock broking houses in the
country. SSKI has been among India’s leading broking houses for
more than a century.
PRICING OF SHAREKHAN ACCOUNTS:
1. ACCOUNT OPENING: Rs.750
2. BROKERAGE SLAB: [NEGOTIABLE]
0.01% - INTRADAY
0.5% - INTERDAY
3. AMC – NIL FOR 1ST YEAR AND Rs.330 EVERY YEAR.
4. STAMP PAPERS FOR OPENING ANY ACCOUNT.
INDIAINFOLINE (5PAISA.COM):
COMPANY BACKGROUND:
Indiainfoline was founded in 1995 and was positioned as a
research firm in 2000 e-broking was started under the brand name
of 5paisa.com. Apart from offering online trading in stock market
the company offers Mutual funds online. It also acts as a
distributor of various financial services i.e. GOI securities,
Company Fixed Deposits, Insurance. The company has limited
ground network and is present in 20 Cities.
PRICING FOR RETAIL CLIENTS:
1. ACCOUNT OPENING: Rs. 500
2. INITIAL MARGIN: Rs.2500 [compulsory]
3. MINIMUM MARGIN TO BE MAINTAINED:
Rs.1000
4. AMC – Rs.250 for 1st year.
5. BROKERAGE SLAB:
0.01% + SERVICE TAX – INTRADAY
0.5% + SERVICE TAX – INTERDAY.
RESEARCH METHODOLOGY
RESEARCH DESIGN:
Research design is the conceptual structure within which
the research would take place. The presentation of such a
design facilitates research to be as efficient as possible
yielding maximum information.
DATA SOURCES:.
For my study, I have used both primary data and
secondary data. Primary data constituted of the
interaction with the clients and I also visited
offices of other competitors to gain knowledge
about the different strategies used by them.
Secondary data constituted of the magazines,
newspapers, internet, etc.
RESULTS AND DISCUSSIONS
COMPARISON OF RELIGARE SECURITIES WITH ITS
COMPETING FIRMS.
Religare Vs Indiabulls:
1. In Indiabulls Rs.500 per month will be charged for
access to a research even if it is trading account holder,
whereas in Religare research and advisory is free of
charge for its clients.
2. Indiabulls charges 21% p.a. interest for T+1 day on
leveraged delivery trades whereas Religare charges
16% p.a. interest after T+2 days.
3. Account opening charges are more than Religare in
Indiabulls which is a very important factor for Indian
customers.
Religare Vs ICICIdirect:
1. In ICICIdirect the trader has to sell his shares with the
maximum time of T+1 day wherein Religare Ltd. it is T+2
days which is known as BTST.
2. The choice of bank account is only limited to ICICI bank in
ICICIdirect wherein Religare the trader has a choice of ten
standard banks.
3. The brokerage slab of ICICIdirect is not negotiable and it’s
very high as compared to Religare. It is 0.75% on delivery as
compared to Religare which charges 0.3%.
4. The account opening charges are also criteria. ICICIdirect
charges Rs. 750 whereas Religare charges Rs.500.
5. ICICI website during trading hours is busy and takes a lot of
time to respond to any order which can be frustrating.
Religare Vs Sharekhan:
1. Sharekhan doesn’t allow BTST (buy today sell
tomorrow) option to its trader. Religare provides
BTST.
2. Streaming quotes in the browser is pretty slow which
requires JVM. Since the browser is pretty slow the rate
fluctuates a lot.
3. Since the brokerage slab is low in sharekhan it doesn’t
allow trading in shares less than Rs. 20.
4. Too many hidden costs and obligations, terms and
conditions which makes the trader skeptical.
Religare Vs IndiaInfoline:
1. The trader needs to maintain a minimum of Rs.1000 as
margin balance in their account, there is no such
obligation in Religare.
2. The trader has to initially invest Rs.2500 as margin
which is mandatory for every retail client this is not
the case with Religare.
3. The brokerage charges for delivery also differs in both
the company.
SWOT ANALYSIS
A SWOT analysis focuses on the internal and external forces; it also examines the strength and weaknesses in the internal environment and opportunities and threats in the external environment.In the previous chapter of this project we saw how Religare is doing compared to its competitors. In this section we will learn what are the different opportunities and threats lying ahead of Religare and what are its strengths and weaknesses.
STRENGTHS:
1. RESEARCH REPORTS:
RELIGARE sends daily reports to their customers on their e-mail for various informations. Various reports are sent to the customers regarding the predictions of the market in the future and how it has behaved in the past. The customer also receives SMS alerts regarding shares which are showing good movements in the trading sessions.
2. EXPOSURE:
RELIGARE provides the customer with exposure to 4 to 6 times on their margin money depending on the market condition and the kind of selling/buying.
3. RELATIONSHIP MANAGERS:
RELGARE has a pool of well qualified and experienced Relationship Manager who helps the customers to solve their queries and also provide them the information. They also provide consultancy to the customers to trade with minimum risk and maximum return
4. GOOD NETWORK
RELIGARE has a good network with more than 900 branches in more than 300 cities making it easy for the customers to access its services. In addition to this Religare has tie ups with many banks to ease the fund transfer for its clients.
WEAKNESS:
1.BRANDING:
Though the company has a efficient products but it still requires the branding in the market. The most basic expectation for a trader or investor when one begins trading is that one must get timely delivery of shares and proceeds from sale of shares. Also ones cash balances with the broker must be safe and secure. Though this confidence in the broker comes with time and experience, good and transparent practices also play a major role in imbibing confidence in traders.
OPPORTUNITIES:
1. INCREASING MARK:
After the NSE brought the screen based trading system, stock markets are now more secured which has attracted lot of retail investors and the demand is increasing day by day. This has resulted in heavy volumes on transactions. Now, the biggest opportunity which the Religare Ltd. is having is to target these customers as soon as possible and to increase their customer database.
2. LATEST TECHNOLOGY:
Another Opportunity in front of Religare Ltd. is improving technology. If Share Ltd. will also go shoulder by shoulder with the improving technology and adapt the changes than they can have the big advantage over their competitors
because the small broking houses will not be able to adapt the changes because of small capital.
THREATS:
1. NEW COMPETITORS:
As we know that the investors in INDIA is growing day by day and with that investment options are also increasing. Because of this new competitors are taking place in the market as a broking house. This is creating a lot of competition for players like Religare Ltd. and it is creating little confusion in the minds of the customers about the services provided by the different brokers. Competitors like, Indiabulls, ICICI, Kotak, Unicon, HDFC, 5-Paisa etc. are posing a lot of threats to the company.
2. BROKERAGE OF DIFFERENT FIRMS:
Another biggest threat for Religare Ltd. is the brokerage charge from the customers. Many small broking house charges less brokerage from customers as compare to biggest broking house in order to attract their attention towards them which is creating a huge problem for Religare Ltd.
DATA ANALYSIS AND INTERPRETATION
Comparison between services provided by Religare & Other firms-
MARKET SHARE OF COMPANIES
Questions asked to the investors:
1) Preference of Investment:Financial Instruments No. Of Investors (50)a)Shares 37, b)Mutual Funds 8, c)Bonds 4, d)Derivatives 1
Interpretation: This shows that although the mutual funds market is on the riseyet, the most favored investment continues to be in the Share Market. So, with amore transparent system, investment in the Stock Market can definitely beincreased.
2) Awareness of all houses of Share trading :YES NOa)45, b) 5
Interpretation: With the increase in cyber education, the awareness towardsonline share trading has increased by leaps and bounds. This awareness isexpected to increase further with the increase in Internet education.
3) Awareness of Religare as a Brand.
a)YES 29, b) NO 21
AWARENESS OF RELIGARE AS A BRAND a) 43% YES, b)57% NO
Interpretation: This pie chart shows that Religare has a reasonable amount ofBrand awareness in terms of a premier Retail stock broking company. Thecompany to increase its market share over its competitors should further leveragethis brand image.
4) Awareness of the facilities provided by Religare : a)YES 42, b)NO 8
Interpretation: Although there is sufficiently low brand equity among the targetaudience yet, it is to be noted that the customers are not aware of the facilitiesprovided by the company meaning thereby, that, the company should concentratemore towards promotional tools and increase its focus on product awarenessrather than brand awareness.
5) DEMAT Account Market :BROKING FIRMS INVESTORSa)Religare Securities 6
b)ICICI Direct 15c)Kotak Securities 4d)IndiaBulls12e)Others13
Interpretation: This shows that even with sufficiently high Brand Equity,Religare ranks only 3rd amongst the Demat account providers. This is probablybecause of two main reasons:1. Lack of promotion and unfocussed approach towards Product awareness1. Non – transparent marketing policies of the companyHence, the company should crystallize its products and should indulge inaggressive marketing and promotion.
1) Satisfaction level among Customers with current Broker :a)YES 46, b)NO4
Satisfaction level among Customers withcurrent brokerYes - 92% No- 8%
Interpretation: This pie chart accentuates the fact that Strategic marketing,today, has gone beyond only meeting Sales targets and generating profit volumes.It shows that all the competitors are striving hard not only to woo the customersbut also to make them Brand loyal by generating customer satisfaction.
2) How often do you trade:FREQUENCY OF TRADING & NO. OF INVESTORSa)Daily 5b)Weekly 13c)Monthly 26d)Yearly 6
Frequency of Trading
a)Daily - 9%
b)Weekly - 27%c)Monthly -53%d)Yearly -11%
Interpretation: In spite of the huge returns that the share market promises, wesee that there is still a dearth of active traders and investors. This is because of thenon – transparent structure of the Indian share market and the skepticism of thetarget audience that is generated by the volatility of the stock market. It requiresefficient bureaucratic intervention on the part of the Government.
FINDINGS AND OBSERVATIONS
MAIN FINDINGS (CONCLUSION)
➢ 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 technologyin 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.
SUGGESTIONS
I would like to suggest some measures to Religare Ltd. so that they can compete with the ongoing market trends and upcoming competition:
As Religare is fully known in the market, they should promote themselves in various places and they should also open some branches in rural India as it is a much untapped market.
Religare should open some more branches in some more cities where they are prospective customers. For e.g. in tier-2 cities such as Bhubaneswar, Rourkela, Jamshedpur, etc.
Religare should contact their customers on regular basis for the problems which they are facing which make the customer happy and can give reference numbers which can increase the database of the company. They should manage their customer relationship and from the customer references make new customers thereafter.
They should lower their account opening charges, if possible to make their service competitive in the market. Their brokerage charges are negotiable so there is no need to change it.
Religare should also promote their brand in terms of what they have achieved; showing their turnovers, customers this will build a strong brand loyalty among existing customers and also invite new customers.
Religare should also work on CRM to build better relationships with the customer and retain them for benefits of both the parties.
CONCLUSION
In India, the number of banks with online presence is very few
which are primarily dominated by foreign banks and private banks.
Both have lesser reach owing to smaller network in the country.
Also the public sector banks are unable to offer facilities of online
trading in this regard. In addition to this internet connectivity and
security concerns hovers around in the minds of Indian consumers.
Aggressive advertising of online share trading firms has not
reached to similar levels as it should have been.
Brand building, assurance of quality, a transparent system
can help the companies prosper in Indian market.
One of the major barriers in customer’s mind about share
trading is the uncertainty in the market. The companies
should focus on changing this notion and make people realize
that if trading is done safely with proper advice and
calculations risk and uncertainties would be minimum.
Potential of trading in India is immense due to the increased
awareness and sustained bullish market and stable economy
which have remained least affected from the ongoing
liquidity crunch; companies can make profitable business in
India.
ANNEXURE
QUESTIONNAIRE
Q1. In which of these Financial Instruments do you invest into?Shares Mutual Funds Bonds Derivatives
Q2. Are you aware of online Share trading?Yes No
Q3. Heard about Religare?Yes No
Q4. Do you know about the facilities provided by Religare?Yes No
Q5. With which company do you have your DEMAT account?Religare ICICI Direct Kotak Mahindra India BullsOthers (please specify) __________
Q6. Are you currently satisfied with your Share trading company?Yes No
Q7. How often do you trade?Daily Weekly Monthly Yearly
Q8. What percentage of your earnings do you invest in share trading?Up to 10% Up to 25% Up to 50% Above 50%
Q9. Is broking firms are always risk free?Yes No
Q10.What more facilities do you think you require with your DEMATaccount?------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
BIBLOGRAPHY
WEBSITES:
www.religare.in www.google.com www.nseindia.com www.bseindia.com www.moneycontrol.com
NEWSPAPERS:
HINDUSTAN TIMES ECONOMIC TIMES MARKET EXPRESS
BOOKS:
JOURNALS OF RELIGARE
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