Ch sovan krishna patro,idbi

1
A
Summer internship project report
On
“Capital-market trend analysis using the concept of
Regression Analysis
&
Comparative study of top broking houses with IDBI-capital”
At IDBI bank
Submitted in the partial fulfillment for the award of the degree of
PGDBM
(Praxis Business School, Kolkata)
Submitted by
Ch Sovan Krishna Patro
Batch 2012-14
Under the supervision and guidance of
Mr. Dinesh Sahu
AGM-IDBI Bank
Saheed Nagar, Bhubaneswar

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Preface
The successful completion of this project was a unique
experience for us because by visiting many place and interacting
various person, I achieved a better knowledge about this project. The
experience which I gained by doing this project was essential at this
turning point of my carrier this project is being submitted which
content detailed analysis of the research under taken by me.
The research provides an opportunity to the student to devote
her skills knowledge and competencies required during the technical
session.
The research is on the topic
“Capital-market trend analysis using the concept of Regression
Analysis
&

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Acknowledgement
A project is never the work of an individual. It is moreover a combination of ideas,
suggestions, review, contribution and work involving many folks. It cannot be
completed without guide lines.
It is my pleasure to acknowledge gratefully to all those honorable personalities who
helped me a lot into the creation of this project and shared their experiences.
I would like to express my sincere indebtedness to
Praxis Business School, Kolkata
For giving me the opportunity to work on this project and make it a success.
I would like to express my deep sense of gratitude to my Industry guide,
Mr. Dinesh Sahu, AGM–IDBI Bank, Saheed Nagar, Bhubaneswar,
Who spent his valuable time and guided me. I have benefited a
great deal from his incisive analysis and erudite suggestions. The
atmosphere of a learning organization that he has created along with his peers in
Saheed Nagar Branch has not only helped me but all the other trainees.
Acknowledgements are also due to all the other staff members and executives in
I D B I c a p i t a l f o r p r o v i d i n g i n f o r m a t i o n a t various point of the
project, especially the discussions on the market.
I am also sincerely thankful to all the faculty members of Praxis Business School
for providing their help and advice whenever it was needed.
Finally I wish to extend my sincere acknowledgement to my parents for
their moral and financial support.

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Certificate of completion
(Who so ever it may concern)
This is certify that the project report entitled
Analysis
&
Carried at IDBI bank Bhubaneswar a certified work done by
Mr. Ch Sovan Krishna Patro, a student of PRAXIS BUSINESS SCHOOL,
Kolkata and submitted the same in the partial fulfillment for the award of the
degree of PGDBM has done his summer internship program under my guidance
from 12th
April 2013 to 12th
June 2013.
I found him to be good in the task and activities assigned him. I wish his
success in all future endeavors.
(Industry guide)

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Declaration
I hereby declare that the report titled
Analysis
&
is prepared by me .I submit the same as partial fulfillment of my
course requirement of praxis business school, Kolkata.
This is my original piece of work done under guidance of
Mr. Dinesh Sahu, AGM,IDBI bank, Saheed nagar, Bhubaneswar. This is
my own creation and has not been submitted by anyone before.
Ch Sovan Krishna Patro
Praxis business school
Kolkata

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Table of content
Sl.no particulars Page no
1 Capital market 8
2 Analysis of capital market trend using the concept
of Regression analysis
22
3 Idbi-capital & Competitors 52
4 Comparison with competitors 68
5 Questionnaires 73
6 Summary of the questionnaires 81
7 Recommendations 105
8 The Importance of Capital Market for the
Economic Development of India
106

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Executive summary
Conceptually the mechanism of stock market is very simple.
People who are exposed to the same risk come together and agree that
if anyone of the person suffers a loss the other will share the loss
and make good to the person who lost.
The initial part of the project focuses on the job and
responsibilities I was allotted as a summer
trainee. It also makes the readers aware about the
techniques and methodology used to bring this report alive. It
also describe about the objective of this study.
It p r o v i d e s k n o w l e d g e t o t h e r e a d e r s r e g a r d i n g
t h e c a p i t a l m a r k e t t r e n d w h i c h i s a n a l y z e d b y t h e
R e g r e s s i o n A n a l y s i s c o n c e p t , t h e Products &
brokerages, the company ( I D B I ) offers and the reasons
why someone should associate with it. Also it gives special
emphasis on the competitors. The readers can also find the
comparative analysis between different broking firms along with
IDBI capital.
The next part of the project throws light upon my findings and
analysis about the company and the suggestions for the company
for better performance.

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Research objectives
To analyze the capital market-trend using the concept of Regression
analysis
To compare top broking houses with Idbi-capital
To know the difference between the myth & the truth of Idbi-capital
from the traders from various point of view
To recommend some findings for the betterment of the company

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Capital market
The capital market is the market for securities, where Companies and governments can raise long-term
funds. It is a market in which money is lent for periods longer than a year. A nation's capital market includes
such financial institutions as banks, insurance companies, and stock exchanges that channel long-term
investment funds to commercial and industrial borrowers. Unlike the money market, on which lending is
ordinarily short term, the capital market typically finances fixed investments like those in buildings and
machinery.
Nature and Constituents:
The capital market consists of number of individuals and institutions (including the government) that
canalize the supply and demand for long term capital and claims on capital. The stock exchange, commercial
banks, co-operative banks, saving banks, development banks, insurance companies, investment trust or
companies, etc., are important constituents of the capital markets. The capital market, like the money market,
has three important Components, namely the suppliers of loanable funds, the borrowers and the Intermediaries
who deal with the leaders on the one hand and the Borrowers on the other.
The demand for capital comes mostly from agriculture, industry, trade the government. The
predominant form of industrial organization developed Capital Market becomes a necessary infrastructure for
fast industrialization. Capital market not concerned solely with the issue of new claims on capital, But also
with dealing in existing claims.
+
DEBT OR
BOND
MARKET
EQUITY
MARKET
CAPITAL
MARKET

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Debt or bond market
The bond market (also known as the debt, credit, or fixed income market) is a financial market where
participants buy and sell debt securities, usually in the form of bonds. References to the "bond market" usually
refer to the government bond market, because of its size, liquidity, lack of credit risk and, therefore, sensitivity
to interest rates. Because of the inverse relationship between bond valuation and interest rates, the bond market
is often used to indicate changes in interest rates or the shape of the yield curve.
Types of bond markets
The Securities Industry and Financial Markets Association (SIFMA) classify the broader bond market into five
specific bond markets.
· Corporate
· Government & agency
· Municipal
· Mortgage backed, asset backed, and collateralized debt obligation
· Funding
Bond market participants
Bond market participants are similar to participants in most financial markets and are essentially either buyers
(debt issuer) of funds or sellers (institution) of funds and often both.
Participants include:
· Institutional investors
· Governments
· Traders
· Individuals
Equity or stock market
In its simplest sense, stock market or equity market is a trading place where people buy or sell shares, other
securities or derivatives of public limited companies or limited companies.
Further, it is a place where public guesses the movement in prices of shares and would try to make profit by
selling or buying. In reality, this definition of stock market does not tell the real underlying phenomenon on
why people trade shares.
In the first place the stock market is a virtual place where people exchange securities which companies float
for raising funding for running or expansion of their companies in the form of shares or debentures or both.
Sometimes virtual form of instruments that relate them to companies‟ assets and fundamentals are also traded.
All these products are intangible and the only physical form it can display is the share certificate either in paper
forms (in earlier days) and now mostly seen dematerialized form or popularly known as “Demat” form held in
your trading account. One of finest feature of the stock market is that it is a place where you would be able to
find from small investors, trying to speculate stock prices for profitability, to specially floated finance
companies and mutual funds managers risking large capital assets for making money.

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An introduction to the Indian stock market
Mark Twain once divided the world into two kinds of people:” Those who have seen the famous Indian
monument, the TajMahal, and those who haven't”. The same could be said about investors. There are two
kinds of investors: those who know about the investment opportunities in India and those who don't. India may
look like a small dot to someone in the U.S., but upon closer inspection, you will find the same things you
would expect from any promising market. Here we'll provide an overview of the Indian stock market and how
interested investors can gain exposure.
The BSE and NSE
Most of the trading in the Indian stock market takes place on its two stock exchanges: the Bombay Stock
Exchange (BSE) and the National Stock Exchange (NSE). The BSE has been in existence since 1875. The
NSE, on the other hand, was founded in 1992 and started trading in 1994. However, both exchanges follow the
same trading mechanism, trading hours, settlement process, etc.
Almost all the significant firms of India are listed on both the exchanges. Both exchanges compete for the
order flow that leads to reduced costs, market efficiency and innovation. The presence of arbitrageurs keeps
the prices on the two stock exchanges within a very tight range.
Trading Mechanism
Trading at both the exchanges takes place through an open electronic limit order book, in which order
matching is done by the trading computer. There are no market makers or specialists and the entire process is
order-driven, which means that market orders placed by investors are automatically matched with the best limit
orders. As a result, buyers and sellers remain anonymous. The advantage of an order driven market is that it
brings more transparency, by displaying all buy and sell orders in the trading system. However, in the absence
of market makers, there is no guarantee that orders will be executed.
All orders in the trading system need to be placed through brokers, many of which provide online trading
facility to retail customers. Institutional investors can also take advantage of the direct market access (DMA)
option, in which they use trading terminals provided by brokers for placing orders directly into the stock
market trading system.
Settlement Cycle and Trading Hours
Equity spot markets follow a T+2 rolling settlement. This means that any trade taking place on Monday, gets
settled by Wednesday. All trading on stock exchanges takes place between 9:15 am and 3:30 pm, Indian
Standard Time (+ 5.5 hours GMT), Monday through Friday. Delivery of shares must be made in
dematerialized form, and each exchange has its own clearing house, which assumes all settlement risk, by
serving as a central counterparty.
Market Indexes
The two prominent Indian market indexes are Sensex and Nifty. Sensex is the oldest market index for equities;

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it includes shares of 30 firms listed on the BSE, which represent about 45% of the index's free-float market
capitalization. It was created in 1986 and provides time series data from April 1979, onward.
Another index is the S&P CNX Nifty; it includes 50 shares listed on the NSE, which represent about 62% of
its free-float market capitalization. It was created in 1996 and provides time series data from July 1990,
onward some of the sectorial indices are Auto, Bankex, Fmcg, IT, PSU, Metal Etc.
Market regulation
The overall responsibility of development, regulation and supervision of the stock market rests with
the Securities & Exchange Board of India (SEBI), which was formed in 1992 as an independent authority.
Since then, SEBI has consistently tried to lay down market rules in line with the best market practices. It
enjoys vast powers of imposing penalties on market participants, in case of a breach.
Who can invest in India?
India started permitting outside investments only in the 1990s. Foreign investments are classified into two
categories: foreign direct investment (FDI) and foreign portfolio investment (FPI). All investments, in which
an investor takes part in the day-to-day management and operations of the company, are treated as FDI,
whereas investments in shares without any control over management and operations are treated as FPI.
For making portfolio investment in India, one should be registered either as a foreign institutional
investor (FII) or as one of the sub-accounts of one of the registered FIIs. Both registrations are granted by the
market regulator, SEBI. Foreign institutional investors mainly consist of mutual funds, pension funds,
endowments, sovereign wealth funds, insurance companies, banks, asset management companies etc. At
present, India does not allow foreign individuals to invest directly into its stock market. However, high-net-
worth individuals (those with a net worth of at least $US50 million) can be registered as sub-accounts of an
FII.
Foreign institutional investors and their sub accounts can invest directly into any of the stocks listed on any of
the stock exchanges. Most portfolio investments consist of investment in securities in the primary
and secondary markets, including shares, debentures and warrants of companies listed or to be listed on a
recognized stock exchange in India. FIIs can also invest in unlisted securities outside stock exchanges, subject
to approval of the price by the Reserve Bank of India. Finally, they can invest in units of mutual funds and
derivatives traded on any stock exchange
An FII registered as a debt-only FII can invest 100% of its investment into debt instruments. Other FIIs must
invest a minimum of 70% of their investments in equity. The balance of 30% can be invested in debt. FIIs
must use special non-resident rupee bank accounts, in order to move money in and out of India. The balances
held in such an account can be fully repatriated.
Restrictions/investment ceilings

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The government of India prescribes the FDI limit and different ceilings have been prescribed for different
sectors. Over a period of time, the government has been progressively increasing the ceilings. FDI ceilings
mostly fall in the range of 26-100%.
By default, the maximum limit for portfolio investment in a particular listed firm is decided by the FDI limit
prescribed for the sector to which the firm belongs. However, there are two additional restrictions on portfolio
investment. First, the aggregate limit of investment by all FIIs, inclusive of their sub-accounts in any particular
firm, has been fixed at 24% of the paid-up capital. However, the same can be raised up to the sector cap, with
the approval of the company's boards and shareholders.
Secondly, investment by any single FII in any particular firm should not exceed 10% of the paid-up capital of
the company. Regulations permit a separate 10% ceiling on investment for each of the sub-accounts of an FII,
in any particular firm. However, in case of foreign corporations or individuals investing as a sub-account, the
same ceiling is only 5%. Regulations also impose limits for investment in equity-based derivatives trading on
stock exchanges.
The bottom line
Emerging markets like India are fast becoming engines for future growth. Currently, only a very low
percentage of the household savings of Indians are invested in the domestic stock market, but with GDP
growing at 7-8% annually and a stable financial market, we might see more money joining the race. Maybe it's
the right time for outside investors to seriously think about joining the India band wagon
The emergence of e-broking in India
The Indian trader is being fancied by the democratized world of online trading or also known as e- broking.
The regular and attractive advertisements in the print media and electronic media have added to this fancy
world. But as we compare to the Western countries, in India online trading has not still grasped the market, but
has done a very important amount of progress in the past years and the future of online trading is bright. That
is why many new companies are coming into this form of business structure and the existing companies are
changing to this new format besides offline and other traditional forms of business. With only a mere share of
10% online trading a combined gross turnover of around Rs.9000-10,000 crores handled by the BSE and NSE
together there is a much greater scope for online trading. At present some of the dominant players in the online
trading market of share market are –
1. Sharekhan.com
2. Icicidirect.com
3. Idbi capital
4. 5paisa.com
5. India bulls
6. Kotak Securities
7. Motilal Oswal
8. Geojit Securities

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9. Angel Trade
10. Reliance Money
11. Religare
12. Karvy
13. IL&FSEarlier
The share market was not safe enough to invest but some of the changes in the past ten years in the Indian
share market have created the interest of trading in the shares by the people. Broadly we can classify three
important factors which have contributed to the development of online trading in India-
1. Firstly the major step was taken by the National Stock Exchange (NSE) in the year 1994 which
allowed the electronic trading and seeing to this various other stock exchanges in India followed soon.
This helped in making the fast, accurate and transparent transactions saving a lot of time then the
traditional method of trading. The investors were also saved by the clutches of the fraud brokers at the
times when the clients were not aware of the true prices of the shares.
2. Secondly, in the year 1996 the dematerialization of the shares came (also known as DEMAT) which
avoided the online presence of shares in an electronic form avoiding them from theft, pilferage
or from other losses like counterfeiting and frauds regarding share transfer.
3. The third reason was the rapid growth of computer education and learning of internet by the people.
With the evolving of internet the online trading became a hit and the investors became confident in
investing just with a click of a mouse.
With the happening of such events the ratio of trading has improved a lot. As it takes less time people praise
this technology for trading purposes. Some people who traded rarely now even trades 2-3 times every day as it
provides edge of researching about companies on the internet. The number of small investors is increasing on
the daily basis that trades on the internet. If a person invests or trades in equities, derivatives, commodities etc
through the use Internet it is known as online trading enabling the investor to connect electronically to buy or
sell stocks, derivatives etc. with the other investors. This can be done with the help of online service providers
like Sharekhan.com, ICICI Direct.com etc. A person can access a stockbroker's website through a PC
connected to Internet and can place his orders.
The benefits are-
 A person can see the latest market movement through streaming quotes
 Reduces time lag due to self-execution and instant confirmation
 Empowers traders to have a complete control over their trading decisions
 A person can access his accounts and related information on the website
 Provides greater convenience of trade as a person can trade from home or other convenient location
 It is cheap in terms of cost associated and offers reduction in overheads
 A trader cab]n view the historical charts on his computer
The Internet revolution has changed the way to communicate and the way to do business in today‟s society
bringing us closer and closer to vital sources of information. It provides us with means to directly interact with
service-oriented computer systems tailored to our specific needs; therefore, we can serve ourselves better by
making our own decisions. This new access by the online trading customers to low-cost transactions and

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cutting-edge, real-time market information that formerly belonged only to brokers has opened up extraordinary
new investment opportunities as well as a crucial need for state-of-the-art information. Today the investors use
the Internet Client-Server technology to buy and sell the securities at an instant at any point of time. People
investing online have reached the proportions. Online trading allows an investor to buy and sell shares on the
exchange through Internet and helps in the direct control of his investments.
The data of the startup dates by some of the brokers in India are shown below
Launch date
Share khan Feb-2000
Invest mart Feb-2000
Geojit Securities Feb-2000
ICICI Direct Apr-2000
IDBI Capital July-2000
Kotak securities Aug-2000
Anand Rathi Direct Sep-2000
Online trading infrastructure
The emergence of online exchanges has facilitated faster transactions by providing
online trading portals and brokerage houses ease and flexibility. The Internet has in
deed opened up newopportunities for conducting the business. The worldwide stock exchanges has
made a major shift from the traditional method of trading and now conduct a bulk of its business
online through its brokers and partners.
In the developed countries majorly all the exchange transactions are
conducted online. The trend took off slowly in India and the National Stock Exchange (NSE)
and the Bombay Stock Exchange (BSE) two of the largest exchanges in India have been
conducting online trade successfully for some time.
Why online trading entered late in India?
The Indian exchanges and brokering houses have been very slow in moving their transactions
online and the major reason has been the lot government regulations. The initial delay
was due to laying down the specifications for creating Closed User Groups (CUGs).
This issue was resolved between the Department of Telecommunications (DoT) and the Finance Ministry
around 1998, after that soon introduction of online trading portals like ICICI direct.com, motililoswal.com,
sharekhan.com etc. Connectivity related issue was perhaps the most important technological factor.
Traditionally the cost of leased lines and VSAT links has been very high and the reliability of the links was
very low. To commission the links it took a long time as one had to make an application and wait for a few
weeks for the link to be up and running. Many other issues like security, backup and recovery

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procedural costs also acted as deterrents in the process. Now with the resolution of regulatory
issues India no longer have any pressing connectivity and band with issues.
The entry of private players into the broadband scenario and the government opening up the
telecom sector these issues have become almost non-existent. Security solutions and services available in
the market have matured and it doesn't cost a pretty packet anymore to put a simple backup
solution in place. Through online trading everyday large volumes of data is being transacted. To control Online
Trading RBI made regulations making it mandatory for companies to store at least 7 years of transactional and
financial data.
1. Design needs to be always-on, secure, redundant, and have adequate backup and
recovery processes.
2. For such high amounts of critical data it's natural to deploy network-based storage
like NAS or SAN.
3. Security is a vital and integral part of the design architecture. The hardware and
software elements should be built around layered security architecture and should be held in place
with a well-documented security policy.
4. Ideally online exchanges should have 'five-nine' availability.
5.It's difficult to deploy out-of-the-box applications at exchanges as each has a unique
architecture based on factors like operations flow, trading volumes, number of members, number of
users , and number of locations.
6. NSE has deployed NIBIS (NSE's Internet Based Information System) for real-time
dissemination of trading information over the Internet and NEAT a client-server-based application to
help its operations.
7. BSE has deployed an On Line Trading system (BOLT) on a Tandem platform which
has two-tier architecture. It claims to be able to support up to 2 million trades a day
Recommendations of SEBI
The SEBI has also played an important role in the issue of the guidelines regarding online trading so
that the chances of fraud and misrepresentation are minimized. Some of recommendations are as follows:
1. The stock brokers which are being registered with Securities Exchange Board of India (SEBI) will have to
apply to stock exchanges for a formal permission. The following conditions must befulfilled-1. The online
trading company must have a minimumnetworth of Rs50 lakh
2. The encryptiontechnology should be there in the system used by the brokers to ensure the provision for
confidentiality ,security ,justifiability and reliability of data .The user id, first level and second level password,
automatic expiry of passwords at the end of a reasonable period, secured socket level security for server access
through Internet, suitable firewalls between the trading set-up directly connected to an exchange trading

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system and the Internet trading set-up, microprocessor-based Smart cards, dynamic password, 64 bit/128- bit
encryption are the basic minimum security standards.
3. The brokers must maintain adequateback-upsystemsanddatastoragecapacity which must be checked by the stock
exchanges.
4. The minimumqualification must be laid down by the stock exchange to ensure that the persons hired by the
brokers must have the proper qualification regarding trading so as to guide the clients and he can communicate
regarding trading instructions.
5. To handle contingency situations and for review of incoming and outgoing electronic correspondence the
respective stock exchange mustdevelopuniformwrittenrules,regulationsand procedures.
6. To ensure the authenticity and accuracy of data a certification agency must be appointed using the
certification technologies when notified by the government or the SEBI.
7. The better client and the broker relationship to be maintained.
8. To determine the risk associated with the clients the brokers must have the have sufficient verifiable
information about clients and the stock exchange must ensure it.
9. The clients must be taken into an agreement stating about all the obligations and rights including the
minimum service standards to be maintained by the service provider broker for services specified by
SEBI/exchanges for Internet-based trading from time to time.
10. The web site of the broker providing the online trading facility should contain information rules and
regulations affecting client broker relationship, arbitration rules, investor protection rules, etc. meant for
investor protection. It should also provide and display prominently hyper link to the website/page on the web
site of the relevant stock exchange(s) displaying rules/ regulations/circulars. Ticker/quote/order book displayed
on the web site of the broker should display the time stamp as well as the source of such information.
11. An e-mail should be sent to the investor for the confirmation of his Order or trade.
12. The limits of trading and exposure provided to the client must be set on system-based control and brokers
and exchanges must ensure it. The limits must be predefined by the broker on the exposure and turnover of
each client. The system of broker should be such that it is capable of assessing the risk of the client as soon as
the order comes in. The system should inform the clients client the reports on margin requirements, payment
and delivery obligations etc.
13. As per the regulations the Contract Notes must be issued to clients within 24 hours of the trade execution.
14. Cross trades of the clients will not be allowed with each other to the brokers using Internet- based systems
for routing client order and all orders must be offered to the market for matching.
15. A separate working group has been set up to look into the surveillance and enforcement-related issues
arising due to Internet-based securities trading. However, general anti-fraud provisions (SEBI Fraudulent and

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Unfair Trade Practices Regulations, 1995) will apply to all transactions involving securities or financial
services, regardless of the medium.
Issues in selection of an e-broker
Individual investors compare the brokerage provided by various online traders.
Brokerage can be a key differentiator among different schemes offered by e-brokers in the present competitive
market place. For example icicidirect.com was the first to enter into e-broking and charges the
highest brokerage (for delivery transactions) at 0.85 per cent per trade as compared to Invest Smart which
charges 0.75 per cent. Other competitors like 5Paisa.com, Sharekhan and Kotakstreet.com charges0.25 per cent
of the transaction value for delivery-based trades.
The pattern of entry into e-broking shows that “brokerage and associated costs” can be the differentiators only
for a timewhile.ICICIdirect.com as the first entrant, has touted itself as the first integrated e-broking
service provider in the market. Although it charges high brokerage charges than its competitors it
has positioned itself as the only player to have online broking, banking and depository interface in one module
to offer a fully integrated online trading experience. Sharekhan, tried to overcomeicicidirect.com by
introducing a flat fee product of Rs.1, 000 per month. This innovation helped Sharekhan to get the investors
who traded heavily and had not to worry about paying heavy brokerage .But the next launch in e-trading
halved the flat fee to Rs 500 and got an edge over Sharekhan. It also allowed short sales and offered clients the
option of trading against securities upto three times sales marked for delivery providing for exposure.
Thus innovation provides limited scope for it is a matter of time before almost all the schemes offer more or
less identical features. All it depends is on the client's risk profile, preferences and requirements and each
client may have to choose the different schemes. Online trading is still at infant stage and all the major players
which have set up e-broking outfit‟s aim to achieve two objectives-1.To broad bases the overall trading
of investors, while holding their existing clientele intact.2.Most settled e-broking players like
ICICIdirect.com, Invest Smart and Kotakstreet.com are using their brick-and-mortar presence to
encourage investors to go online.
The investors are being assured if due to any reasons like poor connectivity or Internet infrastructure and that
even if the Internet order-routing system breaks down or investor access is broken for any reason, online
registered investors can have the option of putting through their orders offline. As this combination is still a
new concept, most investors will be better off clarifying how the off line environment will operate,
If online environment fails for any reason, for the investor, the important thing is to ensure that this switch
from online to offline is seamless and that there are no associated hidden costs. From the opinion of an investor
viewpoint the click-and-mortar approach to investing may be the best bet till the online trading market matures
in terms of technology, infrastructure and service to become a self-sustaining business proposition. The brick-
and-mortar brokerage outfit is likely to subsidize the investment in online trading technologies and further in
the ongoing/recurring costs. Unless the share of online trading volumes increase dramatically to 10-15 per cent
of the total trading volumes the traditional brick-and-mortar outfits will continue to dominate the market.. The
investor checklist is mainly a trend spotter's guide to the selection of an e-broker. With most online trading
outfits still forging agreements with payment gateways for online banking and with depository participants for
online Demat, it may be too early to differentiate the grain from the chaff among e-brokers. But the investors'
checklist still looks at aspects that are expected to acquire prominence as online trading catches on.

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The pedigree of the e-broker plays a great role as to decide the serious players. Going forward consolidation is
inevitable even in this industry and when that happens, online trading sites such asicicidirect.com, Sharekhan,
Geogit securities, Invest Smart and Kotakstreet.com with a good reputation have a much better chance of
survival and growth than the stand-alone sites such as5paisa.com and Indiabulls.
Technology and back office infrastructure used by these online companies may prove to a burden inthe long
run. It is good for medium to term investors looking at online trading from a perspective, sites with deep
pockets and a pedigree will be a good choice. With the consolidation in the industry and standardization of
technology the quality of service becomes the key differentiator. In the initial stage from investors viewpoint
holding at least two online trading accounts with two different outfits will be good in the long run which helps
in the evaluation of the quality of service and security-related issues of the two companies. So investor can
switch to the better player according to his comfort level..
The integrated package provided initially by ICICIdirect.com offered a seamless 3-in-1 package of broking,
banking and Demat accounts. This helped in reduction of the paperwork and time involved in settlements and
transfer of shares or money. Later IDBI capital also introduced 3 in 1 account for traders convenience.
Advantages of online trading
1. ProvideswiththeFreedomofInformation
The Internet provides a new sense of controlling our financial future as the amount of investment information
available online is truly outstanding. An investor can-
 Know thepriceofanystockhedesiresatanypointoftimeontheinternet
 Aninvestorcanreviewthepricehistoryofanystockinthechartformatonline
 Aninvestorcanfollowin-depthanalysisoftheeventshappeninginthemarket
 Helpsaninvestorinreceivingawealthoffreecommentaryandanalysisaboutstockmarketintheglobaleconomy
 Helpsaninvestortoconductanextensivefinancialresearchofanycompanyhedesires
 Hemayalsoconsultwithotherinvestorsonlinepresentaroundtheworld
Some online stock broking companies provide real-time stock quotes, daily roundups of the stock market,
expert commentary, and a deep community of fellow investors.
2. ProvidesControltoInvestorsMoney
When an investor wants to buy or sell stock he no longer need to call his broker on the phone thus helping in
the execution of the order instantly on the internet.
3. Providesaccesstothemarket

20
Through the sophisticated information streams, dedicated trading platforms and sophisticated tools the investor
can access the markets which provides more agility in buying and selling stocks.
4. Ensuresthebestpriceforinvestors
Some companies like Invests mart (IL&FS) specialize in the technique which offers the best price deals for the
buy and sell orders of the investors and traders providing the high level of transparency by displaying of
information relating to the specific stocks and company profiles which helps in getting the best quote for the
orders.
5. Onlinetradingoffersgreatertransparency
Online trading offers the investors with greater transparency by providing with an audit trail. The process
involves a complete integrated electronic chain starting from order placement, to clearing and settlement and
finally ending with a credit into the depository account of the investor. All these stages are inspected which
brings the transparency into the system.
6. Provideshasslefreetrading
Online trading provides an integration of the bank account, trading account and demat accounts, which leads
to easy and paperless trading for the client.
7. Onlinetradingallowsinstanttradeexecution
Online transactions helps in the quick execution of the entire trading transaction right from logging to the
traders site and to the settlement of the bank account in a very short period of time.
8. Itprovidesalevelplayingfield
Trading online gives even the smallest retail investor access to information which was earlier available only to
the big traders. It has provided with a level playing field for all investors in the securities market.
9. Onlinetradingreducesthesettlementrisk
This method of trading reduces the settlement risk for the investor as when a short sell order is played the
orders are squared off at the specified cut-off time and are not allowed to be carried forward.
10. Provideslivefinancialnews&analysis
The online sites also provide live terminals which provide streaming news to give investor the latest financial
information as it occurs.
11. Onlinehelpdesk

21
Some companies provide online help desk an investor cancan contact the Tele Trading Executives from the
Tele Trading team during and after market hours and can clarify questions.
12. Instantordertradeconfirmations
Through online trading every trade is confirmed immediately and investor receives an on-screen confirmation
following every trade with full details for the investors records which avoids costly errors that would have
been discovered when it is too late.
13. KeepsInformationSecure
As per the guideline provided by SEBI every effort has to be made to keep the investors account and personal
information secure by use of encryption technology and updated security technology to advanced fraud
prevention measures.
Disadvantages of online trading
1. In online terminal, investor can‟t get customized expert advice, whereas in offline the broker gives
suggestions according to investors strategy (i.e. short term or long-term)
2. Brokerage is high compared to offline.
3. Privacy is less due to hacking scandals
4 .Transactional errors due to technical problems

22
Analysis of capital-market trend (BSE)
using the concept of Regression Analysis
(All the data given below are collected at the beginning of June)
Simple Regression Analysis
Regression analysis is the process of constructing a mathematical model or function that can be
used to predict or determine one variable by another variable or other variables. The most
elementary regression model is called simple regression involving two variables in which one
variable is predicted by another variable. In simple regression the variable is to be predicted is called
dependent variable and is designated as “y”. The predictor is called independent variable and is
designated by “x”.
Below I have taken the very 1st
days of each month as independent variables and strike prices like
(open, high, low, close) as dependent variable
BSE constructs various sectorial indices "Sector Series (90/FF)" as detailed below. All these indices
are calculated and disseminated on BOLT, BSE's trading terminal on a real time basis. "90/FF"
implies that the index covers 90% of the sectorial free-float market capitalization and is based on the
Free-Float methodology.
Index Specification:
Index Base
Period
Base Index
Value
Date of Launch Method of Calculation
S&P BSE Auto 01
February,
1999
1000 23 August, 2004 Free-float market capitalization
S&P BSE
BANKEX
01
January,
2002
1000 23 June, 2003 Free-float market capitalization
S&P BSE Capital
Goods
01
February,
1999
1000 09 August, 1999 Launched on full market capitalization
method and effective August 23, 2004,
calculation method shifted to free-float
market capitalization
S&P BSE
Consumer
Durables
01
February,
1999

23
S&P BSE FMCG 01
February,
1999
S&P BSE
Healthcare
01
February,
1999
S&P BSE IT 01
February,
1999
S&P BSE Metal 01
February,
1999
S&P BSE Oil &
Gas
01
February,
1999
S&P BSE Power
Index
03
January,
2005
1000 09 November,
2007
Free-float market capitalization
S&P BSE Realty 2005 1000 09 July, 2007 Free-float market capitalization
Understanding Free-float Methodology Concept
A method by which the market capitalization of an index's underlying companies is calculated. Free-
float methodology market capitalization is calculated by taking the equity's price and multiplying it by
the number of shares readily available in the market. Instead of using all of the shares outstanding
like the full-market capitalization method, the free-float method excludes locked-in shares such as
those held by promoters and governments.
Calculated as: FFM= share price *(#share outstanding-locked shares)
S&P BSE Sector Series (90/FF) Indices
 S&P BSE 100
 S&P BSE 200
 S&P BSE SENSEX
 S&P BSE TECk
 S&P BSE PSU
 S&P BSE 500
 S&P BSE CAP GOODS
 S&P BSE FMCG
 S&P BSE HEALTHCARE

24
 S&P BSE CD
 S&P BSE IT
 S&P BSE BANKEX
 S&P BSE Auto
 S&P BSE Metal
 S&P BSE Oil & Gas
 S&P BSE MIDCAP
 S&P BSE SMALLCAP
 S&P BSE REALTY
 S&P BSE POWER
 S&P BSE IPO
 S&P BSE Shariah 50
 S&P BSE GREENEX
 S&P BSE CARBONEX
Scrip Selection Criteria for S&P BSE Sectorial Indices
 Eligible Universe
Scrips classified under various sectors that are present constituents of S&P BSE-
500 index would form the eligible universe.
 Trading Frequency
Scrips should have a minimum trading frequency of 90% in preceding three months.
 Market Capitalization
Scrips with a minimum of 90% average free-float market capitalization coverage in each
sector based on free-float market cap final rank will form part of the the index.
 Buffers
A buffer of 2% both for inclusion and exclusion in the index is considered so that
movements in and out of the index are minimized. For example, a company can be
included in the index only if it falls within 88% coverage and an existing index constituent
cannot be excluded unless it falls above 92% coverage. However, the above buffer
criterion is applied only after the minimum 90% free-float market capitalization coverage
is satisfied.
 Index Review Frequency
In case of a revision in the Index constituents, the announcement of the incoming and
outgoing scrips is made six weeks in advance of the actual implementation of the
revision of the Index.
S&P Bse Auto
Company Name Industry Mkt Cap (Rs cr) Weight
Ashok Leyland Auto - LCVs/HCVs 6,239.29 1.79
Bajaj Auto Auto - 2 & 3 Wheelers 51,300.43 14.71
Bharat Forge Castings & Forgings 5,246.02 1.50
Bosch Auto Ancillaries 28,488.22 8.17
Cummins Engines 13,194.72 3.78
Market capitalization
The total market value of all of a company's
outstanding shares.
Market capitalization is calculated by multiplying
a company's shares outstanding by the current
market price of one share. The investment
community uses this figure to determine a
company's size, as opposed to sales or total asset
figures.
Frequently referred to as "market cap."

25
Exide Industrie Auto Ancillaries 11,904.25 3.41
Hero Motocorp Auto - 2 & 3 Wheelers 32,680.86 9.37
Mah and Mah Auto - Cars & Jeeps 58,024.25 16.64
Maruti Suzuki Auto - Cars & Jeeps 49,482.22 14.19
Tata Motors Auto - LCVs/HCVs 92,210.30 26.44
Open High Low Close
Jan 2013 11400.41 11462.99 11400.21 11426.21
Feb 2013 10988.55 11074.18 10952.68 10993.92
Mar 2013 10671.14 10671.14 10418.42 10458.61
Apr 2013 10041.63 10041.63 9884.67 9994.23
May 2013 10852.06 11099.3 10852.06 10996.62
June 2013 11374.43 11374.43 11146.79 11166.34
July 2013 10771.2 10854.58 10565.46 10663.87

26
y = -33.401x + 11005
R² = 0.0153
9500
10000
10500
11000
11500
0 1 2 3 4 5 6 7
strikeprice
Months
Excel graph for regression line for open
Series1
Linear (Series1)
y = -28.489x + 11054
R² = 0.0103
9800
10000
10200
10400
10600
10800
11000
11200
11400
11600
0 1 2 3 4 5 6 7
strikeprice
Months
Series1
Linear (Series1)
y = -60.077x + 10986
R² = 0.0425
9800
10000
10200
10400
10600
10800
11000
11200
11400
11600
0 1 2 3 4 5 6 7
strikeprice
Months
Excel graph for regression line for low
Series1
Linear (Series1)

27
S&P Bse Healthcare
Apollo Hospital Hospitals & Medical Services 13,323.32 3.84
Aurobindo
Pharma
Pharmaceuticals 5,126.77 1.48
Biocon Pharmaceuticals 5,446.00 1.57
Cadila Health Pharmaceuticals 16,358.38 4.71
Cipla Pharmaceuticals 32,361.75 9.32
Divis Labs Pharmaceuticals 13,207.06 3.80
Dr Reddys Labs Pharmaceuticals 35,517.90 10.22
GlaxoSmithKline Pharmaceuticals 19,289.42 5.55
Glenmark Pharmaceuticals 15,239.28 4.39
Ipca Labs Pharmaceuticals 7,257.08 2.09
Lupin Pharmaceuticals 33,751.84 9.72
Opto Circuits Hospitals & Medical Services 1,112.25 0.32
Piramal Enter Pharmaceuticals 9,521.17 2.74
y = -50.161x + 11015
R² = 0.0324
9800
10000
10200
10400
10600
10800
11000
11200
11400
11600
0 1 2 3 4 5 6 7
strikeprice
Months
Excel graph for regression line for close
Series1
Linear (Series1)
9000
9500
10000
10500
11000
11500
12000
Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13
open
High
Low
Close

28
Ranbaxy Labs Pharmaceuticals 16,674.41 4.80
Strides Arcolab Pharmaceuticals 5,314.35 1.53
Sun Pharma Pharmaceuticals 103,641.04 29.84
Open High Low Close
Jan 2013 8137.32 8150.79 8105.46 8132.35
Feb 2013 7991.1 8040.79 7977.22 8016.93
Mar 2013 7892.59 7925.73 7779.36 7810.33
Apr 2013 7949.63 8035.59 7939.58 8008.09
May 2013 8649.03 8722.67 8625.03 8691.2
June 2013 8920.46 8960.98 8825.96 8846.91
July 2013 8851.3 8926.71 8779.41 8830.24
y = 169.9x + 7662
R² = 0.5575
7600
7800
8000
8200
8400
8600
8800
9000
0 1 2 3 4 5 6 7
strikeprice
Months
Series1
Linear (Series1)

29
y = 177.33x + 7685.4
R² = 0.6016
7800
8000
8200
8400
8600
8800
9000
9200
0 1 2 3 4 5 6 7
strikeprice
Months
Excel graph for regression line for high
Series1
Linear (Series1)
y = 163.03x + 7638.2
R² = 0.5314
7600
7800
8000
8200
8400
8600
8800
9000
0 1 2 3 4 5 6 7
strikeprice
Months
Series1
Linear (Series1)
y = 165.52x + 7671.6
R² = 0.5505
7600
7800
8000
8200
8400
8600
8800
9000
0 1 2 3 4 5 6 7
strikeprice
Months
Series1
Linear (Series1)

30
S&P Bse 100
Company Name Industry Mkt Cap
(Rs cr)
Weight
ABB Infrastructure - General 14,219.05 0.29
ACC Cement - Major 22,929.90 0.46
Adani Enterpris Trading 24,316.80 0.49
Adani Ports Infrastructure - General 31,673.66 0.64
Adani Power Power - Generation/Distribution 13,857.05 0.28
Ambuja Cements Cement - Major 28,478.92 0.58
Ashok Leyland Auto - LCVs/HCVs 6,239.29 0.13
Asian Paints Paints/Varnishes 46,041.49 0.93
Axis Bank Banks - Private Sector 68,268.73 1.38
Bajaj Auto Auto - 2 & 3 Wheelers 51,044.34 1.03
Bank of Baroda Banks - Public Sector 28,875.03 0.58
Bank of India Banks - Public Sector 17,582.98 0.36
Bharat Forge Castings & Forgings 5,246.02 0.11
Bharti Airtel Telecommunications - Service 117,571.53 2.38
BHEL Infrastructure - General 47,458.96 0.96
BPCL Refineries 27,798.97 0.56
Cairn India Oil Drilling And Exploration 54,308.81 1.10
Canara Bank Banks - Public Sector 18,803.13 0.38
Cipla Pharmaceuticals 32,438.02 0.66
Coal India Mining/Minerals 197,923.28 4.01
Colgate Personal Care 20,086.14 0.41
Crompton Greave Electric Equipment 5,917.76 0.12
Cummins Engines 13,197.49 0.27
Dabur India Personal Care 27,712.67 0.56
Divis Labs Pharmaceuticals 13,273.43 0.27
DLF Construction & Contracting - Real Estate 35,936.40 0.73
Dr Reddys Labs Pharmaceuticals 35,665.66 0.72
Exide Industrie Auto Ancillaries 11,968.00 0.24
Federal Bank Banks - Private Sector 7,697.98 0.16
GAIL Oil Drilling And Exploration 40,756.18 0.83
7000
7500
8000
8500
9000
9500
jan feb mar apr may jun jul
Open
High
Low
Close

31
Glenmark Pharmaceuticals 15,205.42 0.31
GMR Infra Infrastructure - General 8,407.66 0.17
Godrej Consumer Personal Care 28,487.07 0.58
Grasim Diversified 27,206.26 0.55
HCL Tech Computers - Software 51,787.70 1.05
HDFC Finance - Housing 142,310.86 2.88
HDFC Bank Banks - Private Sector 169,597.33 3.43
HDIL Construction & Contracting - Real Estate 2,099.21 0.04
Hero Motocorp Auto - 2 & 3 Wheelers 32,666.88 0.66
Hind Zinc Metals - Non Ferrous 50,281.30 1.02
Hindalco Aluminium 20,654.02 0.42
HPCL Refineries 9,703.36 0.20
HUL Personal Care 126,915.50 2.57
ICICI Bank Banks - Private Sector 139,127.06 2.82
IDBI Bank Banks - Public Sector 11,295.04 0.23
Idea Cellular Telecommunications - Service 43,125.84 0.87
IDFC Finance - Term Lending Institutions 23,326.81 0.47
IndusInd Bank Banks - Private Sector 26,836.66 0.54
Infosys Computers - Software 135,864.28 2.75
IOC Refineries 70,325.64 1.42
ITC Cigarettes 261,550.68 5.30
Jaiprakash Asso Infrastructure - General 15,056.48 0.30
Jindal Steel Steel - Sponge Iron 27,848.70 0.56
JSW Steel Steel - Large 15,940.61 0.32
Kotak Mahindra Banks - Private Sector 58,564.01 1.19
Larsen Infrastructure - General 89,694.88 1.82
LIC Housing Fin Finance - Housing 13,868.14 0.28
Lupin Pharmaceuticals 33,691.41 0.68
Mah and Mah Auto - Cars & Jeeps 58,168.54 1.18
Mahindra Satyam Computers - Software 12,903.49 0.26
Maruti Suzuki Auto - Cars & Jeeps 49,612.12 1.00
Nestle Food Processing 50,761.91 1.03
NHPC Power - Generation/Distribution 24,170.96 0.49
NMDC Mining/Minerals 46,248.41 0.94
NTPC Power - Generation/Distribution 125,372.29 2.54
ONGC Oil Drilling And Exploration 275,957.33 5.59
PNB Banks - Public Sector 27,938.54 0.57
Power Finance Finance - Term Lending Institutions 25,542.29 0.52
Power Grid Corp Power - Generation/Distribution 51,135.32 1.04
Ranbaxy Labs Pharmaceuticals 16,676.53 0.34
Rel Capital Finance - Investments 8,488.83 0.17
Reliance Refineries 264,806.55 5.36
Reliance Comm Telecommunications - Service 23,282.22 0.47
Reliance Infra Power - Generation/Distribution 9,998.88 0.20
Reliance Power Power - Generation/Distribution 20,982.35 0.42

32
Rural Elect Cor Finance - Term Lending Institutions 22,563.44 0.46
SAIL Steel - Large 24,721.19 0.50
SBI Banks - Public Sector 147,682.93 2.99
Sesa Goa Mining/Minerals 13,870.86 0.28
Shriram TransFi Finance - Leasing & Hire Purchase 25,791.76 0.52
Siemens Infrastructure - General 20,444.50 0.41
Sterlite Ind Metals - Non Ferrous 31,427.29 0.64
Sun Pharma Pharmaceuticals 103,439.10 2.09
Suzlon Energy Infrastructure - General 2,781.84 0.06
Tata Chemicals Chemicals 7,761.15 0.16
Tata Global Bev Plantations - Tea & Coffee 8,771.98 0.18
Tata Motors Auto - LCVs/HCVs 92,656.91 1.88
Tata Power Power - Generation/Distribution 21,654.29 0.44
Tata Steel Steel - Large 30,403.89 0.62
TCS Computers - Software 291,156.20 5.90
Titan Ind Miscellaneous 25,071.08 0.51
UltraTechCement Cement - Major 53,821.52 1.09
Union Bank Banks - Public Sector 13,538.28 0.27
Unitech Construction & Contracting - Civil 6,684.65 0.14
United Brewerie Breweries & Distilleries 19,506.49 0.40
United Phos Chemicals 6,942.25 0.14
United Spirits Breweries & Distilleries 33,057.12 0.67
Wipro Computers - Software 82,523.07 1.67
Yes Bank Banks - Private Sector 18,345.09 0.37
Zee Entertain Media & Entertainment 22,586.87 0.46
Open High Low Close
Jan 2013 5968.29 5989.47 5968.29 5975.74
Feb 2013 6094.6 6107.87 6078.85 6091.47
Mar 2013 5859.49 5883.39 5698.19 5720.1
Apr 2013 5627.47 5691.48 5595.58 5678.7

33
May 2013 5939.51 5969.74 5875.1 5941.35
June 2013 6115.27 6115.27 5982.02 5991.11
July 2013 5961.84 5801.84 5801.86 5858.22
y = 0.6486x + 5957.3
R² = 6E-05
5600
5700
5800
5900
6000
6100
6200
0 1 2 3 4 5 6 7
strikeprice
Months
Series1
Linear (Series1)
y = 0.6486x + 5957.3
R² = 6E-05
5600
5700
5800
5900
6000
6100
6200
0 1 2 3 4 5 6 7
strikeprice
Months
Series1
Linear (Series1)
y = -18.435x + 5930.9
R² = 0.0349
5500
5600
5700
5800
5900
6000
6100
6200
0 1 2 3 4 5 6 7
strikeprice
Months
Series1
Linear (Series1)

34
S&P Bse Capital Goods
(Rs cr)
Weight
ABB Infrastructure - General 14,197.86 6.03
AIA Engineering Engineering - Heavy 2,697.09 1.14
ALSTOM India Power - Transmission/Equipment 2,505.23 1.06
Alstom T&D Power - Transmission/Equipment 4,076.72 1.73
BEML Infrastructure - General 696.50 0.30
Bharat Elec Electricals 10,124.00 4.30
BHEL Infrastructure - General 47,520.15 20.17
Crompton Greave Electric Equipment 5,888.89 2.50
FAG Bearings Bearings 2,442.74 1.04
Havells India Electric Equipment 8,553.31 3.63
Jindal Saw Steel - Tubes/Pipes 2,102.06 0.89
Lakshmi Machine Textiles - Machinery 2,276.96 0.97
Larsen Infrastructure - General 89,383.89 37.93
y = -11.855x + 5941.2
R² = 0.0184
5600
5700
5800
5900
6000
6100
6200
0 1 2 3 4 5 6 7
strikeprice
Months
Series1
Linear (Series1)
5300
5400
5500
5600
5700
5800
5900
6000
6100
6200
Open
High
Low
Close

35
Pipavav Defence Shipping 4,908.39 2.08
Praj Industries Engineering - Heavy 694.78 0.29
Punj Lloyd Infrastructure - General 1,550.89 0.66
Sadbhav Eng Infrastructure - General 1,642.29 0.70
Siemens Infrastructure - General 20,467.61 8.69
SKF India Bearings 2,986.24 1.27
Suzlon Energy Infrastructure - General 2,777.66 1.18
Thermax Infrastructure - General 6,873.53 2.92
Welspun Corp Steel - Tubes/Pipes 1,262.15 0.54
Open High Low Close
Jan 2013 10896.97 10935.12 10850.39 10868.11
Feb 2013 10472.99 10534.95 10458.81 10495.62
Mar 2013 9642.08 9688.84 9113.41 9184.5
Apr 2013 8829.25 9049.98 8813.17 9017.59
May 2013 9802.37 9819.00 9560.76 9718.80
June 2013 9565.09 9565.09 9391.27 9407.38
July 2013 8920.21 8968.62 8669 8801.79

36
y = -270.97x + 10817
R² = 0.4847
0
2000
4000
6000
8000
10000
12000
0 1 2 3 4 5 6 7
strikeprice
Months
Series1
Linear (Series1)
y = -275.34x + 10896
R² = 0.5635
0
2000
4000
6000
8000
10000
12000
0 1 2 3 4 5 6 7
strikeprice
Months
Series1
Linear (Series1)
y = -294x + 10727
R² = 0.4811
0
2000
4000
6000
8000
10000
12000
0 1 2 3 4 5 6 7
strikeprice
Months
Series1
Linear (Series1)

37
S&P Bse Fmcg
Colgate Personal Care 20,086.14 3.44
Dabur India Personal Care 27,730.10 4.75
Godrej Consumer Personal Care 28,383.27 4.86
HUL Personal Care 126,883.06 21.74
ITC Cigarettes 261,471.66 44.81
Jubilant Food Miscellaneous 7,050.61 1.21
Nestle Food Processing 50,680.44 8.69
Tata Global Bev Plantations - Tea & Coffee 8,768.89 1.50
United Brewerie Breweries & Distilleries 19,513.10 3.34
United Spirits Breweries & Distilleries 32,960.33 5.65
y = -280.03x + 10762
R² = 0.4946
0
2000
4000
6000
8000
10000
12000
0 1 2 3 4 5 6 7
strikeprice
Months
Series1
Linear (Series1)
0
2000
4000
6000
8000
10000
12000
Open
High
Low
Close

38
Open High Low Close
Jan 2013 5939.92 5939.92 5902.9 5916.22
Feb 2013 5871.75 5937.91 5863.13 5921.89
Mar 2013 5707.56 5801.6 5643.92 5669.1
Apr 2013 5878.73 5939.28 5864.17 5919.19
May 2013 6479.45 6635.43 6479.45 6548.52
June 2013 6864.24 6864.24 6757.85 6772.13
July 2013 6785.14 6871.59 6719.62 6765.51
y = 189.02x + 5462
R² = 0.6219
0
2000
4000
6000
8000
0 1 2 3 4 5 6 7
strikeprice
Months
Series1
Linear (Series1)
y = 195.77x + 5501.2
R² = 0.6756
0
2000
4000
6000
8000
0 1 2 3 4 5 6 7
strikeprice
Months
Series1
Linear (Series1)

39
y = 181.26x + 5450.8
R² = 0.6156
5400
5600
5800
6000
6200
6400
6600
6800
7000
0 1 2 3 4 5 6 7
strikeprice
Months
Series1
Linear (Series1)
y = 183.13x + 5483.6
R² = 0.6289
5600
5800
6000
6200
6400
6600
6800
7000
0 1 2 3 4 5 6 7
strikeprice
Months
Series1
Linear (Series1)
0
1000
2000
3000
4000
5000
6000
7000
8000
Open
High
Low
Close

40
S&P Bse It
Financial Tech Computers - Software 3,682.60 0.59
Hexaware Tech Computers - Software 2,492.05 0.40
MphasiS Computers - Software 9,308.03 1.49
OracleFinancial Computers - Software 22,359.22 3.59
Tech Mahindra Computers - Software 12,296.23 1.97
Open High Low Close
Jan 2013 5682.35 5698.83 5669.3 5684.08
Feb 2013 6419.25 6429.85 6350.49 6393.63
Mar 2013 6735.93 6807.76 6720.24 6754.33
Apr 2013 6820.27 6913.02 6815.92 6885.46
May 2013 5689.72 5716.98 5659.98 5709.64
June 2013 6024.44 6079.42 6003.69 6065.34
July 2013 6189.24 6172.92 6172.92 6247.29

41
y = -11.251x + 6268
R² = 0.0017
0
1000
2000
3000
4000
5000
6000
7000
8000
0 1 2 3 4 5 6 7
strikeprice
Months
Series1
Linear (Series1)
y = -8.6829x + 6233.7
R² = 0.001
0
1000
2000
3000
4000
5000
6000
7000
8000
0 1 2 3 4 5 6 7
strikeprice
Months
Series1
Linear (Series1)
y = -8.6829x + 6233.7
R² = 0.001
0
1000
2000
3000
4000
5000
6000
7000
8000
0 1 2 3 4 5 6 7
strikeprice
Months
Series1
Linear (Series1)

42
S&P Bse Metal
(Rs cr)
Weight
Bhushan Steel - CR/HR Strips 10,545.43 2.25
Coal India Mining/Minerals 197,765.37 42.10
Hind Zinc Metals - Non Ferrous 50,217.92 10.69
Hindalco Aluminium 20,625.29 4.39
Jindal Steel Steel - Sponge Iron 27,848.70 5.93
JSW Steel Steel - Large 15,986.35 3.40
NMDC Mining/Minerals 46,387.18 9.88
SAIL Steel - Large 24,659.24 5.25
Sesa Goa Mining/Minerals 13,857.82 2.95
Sterlite Ind Metals - Non Ferrous 31,427.29 6.69
Tata Steel Steel - Large 30,384.47 6.47
y = -0.4154x + 6250.2
R² = 2E-06
0
2000
4000
6000
8000
0 1 2 3 4 5 6 7
strikeprice
Months
Series1
Linear (Series1)
0
1000
2000
3000
4000
5000
6000
7000
8000
Open
High
Low
Close

43
Open High Low Close
Jan 2013 11033.41 11129.3 11031.31 11070.63
Feb 2013 10596.87 10623.13 10502.19 10606.13
Mar 2013 9418.93 9443.69 8973.89 9067.95
Apr 2013 8512.05 8797.91 8502.9 8758.32
May 2013 8644.09 8684.34 8518.92 8651.05
June 2013 8654.08 8687.29 8469.81 8503.01
July 2013 7610.6 7693.57 7610.34 7541.39
y = -533.2x + 11343
R² = 0.8317
0
2000
4000
6000
8000
10000
12000
0 1 2 3 4 5 6 7
strikeprice
Months
Series1
Linear (Series1)

44
y = -533.49x + 11428
R² = 0.8714
0
2000
4000
6000
8000
10000
12000
0 1 2 3 4 5 6 7
strikeprice
Months
Series1
Linear (Series1)
y = -549.38x + 11256
R² = 0.8155
0
2000
4000
6000
8000
10000
12000
0 1 2 3 4 5 6 7
strikeprice
Months
Series1
Linear (Series1)
y = -543.23x + 11344
R² = 0.8435
0
2000
4000
6000
8000
10000
12000
0 1 2 3 4 5 6 7
strikeprice
Months
Series1
Linear (Series1)

45
S&P Bse TECk
Bharti Airtel Telecommunications - Service 117,723.43 13.30
DB Corp Media & Entertainment 4,566.14 0.52
Den Networks Media & Entertainment 3,129.77 0.35
Dish TV India Media & Entertainment 6,974.83 0.79
Eros Intern Media & Entertainment 1,513.94 0.17
Financial Tech Computers - Software 3,682.60 0.42
GTL Infra Telecommunications - Equipment 460.33 0.05
Hexaware Tech Computers - Software 2,493.54 0.28
HFCL Telecommunications - Equipment 976.63 0.11
HT Media Media & Entertainment 2,327.88 0.26
Idea Cellular Telecommunications - Service 43,142.41 4.87
JagranPrakashan Media & Entertainment 3,000.48 0.34
MphasiS Computers - Software 9,308.03 1.05
MTNL Telecommunications - Service 1,332.45 0.15
Navneet Printing & Stationery 1,441.20 0.16
0
2000
4000
6000
8000
10000
12000
Open
High
Low
Close

46
OnMobile Global Computers - Software Medium/Small 418.87 0.05
OracleFinancial Computers - Software 22,353.75 2.53
Reliance Comm Telecommunications - Service 23,261.58 2.63
Sun TV Network Media & Entertainment 16,204.76 1.83
Tata Comm Telecommunications - Service 6,027.75 0.68
TataTeleservice Telecommunications - Service 1,578.47 0.18
Tech Mahindra Computers - Software 12,290.46 1.39
Tulip Telecom Telecommunications - Service 187.78 0.02
TV18 Broadcast Media & Entertainment 4,553.01 0.51
Zee Entertain Media & Entertainment 22,606.05 2.55
Open High Low Close
Jan 2013 3429.69 3436.5 3421.6 3427.9
Feb 2013 3898.91 3819.03 3782.12 3798.42
Mar 2013 3908.96 3939.09 3878.11 3897.06
Apr 2013 3866.69 3914.76 3857.45 3900.94
May 2013 3466.21 3479.03 3439.42 3474.24
June 2013 1615.99 3623.82 3595.59 3602.53
July 2013 2323.5 3691.25 3644.54 3673.99

47
y = -297.4x + 4405.3
R² = 0.3962
0
1000
2000
3000
4000
5000
0 1 2 3 4 5 6 7
strikeprice
Months
Series1
Linear (Series1)
y = -3.078x + 3712.8
R² = 0.0007
3400
3500
3600
3700
3800
3900
4000
0 1 2 3 4 5 6 7
strikeprice
Months
Series1
Linear (Series1)
y = -5.1089x + 3680.3
R² = 0.0022
3300
3400
3500
3600
3700
3800
3900
4000
0 1 2 3 4 5 6 7
strikeprice
Months
Series1
Linear (Series1)

48
S&P Bse Bankex
Axis Bank Banks – Private Sector 68,257.02 9.05
Bank of Baroda Banks - Public Sector 28,828.55 3.82
Bank of India Banks - Public Sector 17,544.20 2.33
Canara Bank Banks - Public Sector 18,736.69 2.48
Federal Bank Banks - Private Sector 7,723.64 1.02
HDFC Bank Banks - Private Sector 169,525.90 22.48
ICICI Bank Banks - Private Sector 139,098.21 18.45
IDBI Bank Banks - Public Sector 11,301.71 1.50
y = -2.7289x + 3693.1
R² = 0.0006
3400
3500
3600
3700
3800
3900
4000
0 1 2 3 4 5 6 7
strikeprice
Months
Series1
Linear (Series1)
0
500
1000
1500
2000
2500
3000
3500
4000
4500
Open
High
Low
Close

49
IndusInd Bank Banks - Private Sector 27,019.76 3.58
Kotak Mahindra Banks - Private Sector 58,522.95 7.76
PNB Banks - Public Sector 27,954.44 3.71
SBI Banks - Public Sector 147,648.73 19.58
Union Bank Banks - Public Sector 13,559.16 1.80
Yes Bank Banks - Private Sector 18,375.60 2.44
Open High Low Close
Jan 2013 14321.6 14396.5 14292.26 14344.99
Feb 2013 14627.69 14742.52 14561.45 14580.26
Mar 2013 13769.8 13822.69 13094.05 13203.87
Apr 2013 12831.72 13105.59 12723.46 13033.35
May 2013 14482.75 14482.75 14175.5 14363.74
June 2013 14579.33 14579.33 14233.64 14261.24
July 2013 14094.2 14129.5 13664.69 13840.24

50
y = -2.4071x + 14111
R² = 4E-05
12500
13000
13500
14000
14500
15000
0 1 2 3 4 5 6 7
strikeprice
Months
Series1
Linear (Series1)
y = -16.636x + 14246
R² = 0.0026
13000
13500
14000
14500
15000
0 1 2 3 4 5 6 7
strikeprice
Months
Series1
Linear (Series1)
y = -52.044x + 14029
R² = 0.017
12500
13000
13500
14000
14500
15000
0 1 2 3 4 5 6 7
strikeprice
Months
Series1
Linear (Series1)

51
y = -35.395x + 14088
R² = 0.0099
12500
13000
13500
14000
14500
15000
0 1 2 3 4 5 6 7
strikeprice
Months
Series1
Linear (Series1)
11500
12000
12500
13000
13500
14000
14500
15000
Open
High
Low
Close

52
Company profile
IDBI Capital
Idbipaisabuilder.in is a multipurpose online stock trading website from IDBI Capital Market Services Ltd., a
leading provider of financial services in India and is a 100% subsidiary of Industrial Development Bank of
India (IDBI).
IDBI Capital offers a full suite of products and services to Corporate, Institutional and Individual clients. The
range of services includes:-
 Investment Banking
 Capital Market Products
 Public Offerings
 Qualified Institutional Placements
 Buyback
 Takeover
 Preferential Allotments
 External Commercial Borrowings, FCCBs, etc.
 Private Equity
 Corporate Advisory Services
 Mergers & Acquisitions
 Project Appraisals & Debt Syndication
 Stock Broking - Institutional & Retail
 Distribution of Financial Products
 Debt Placement and Underwriting
 Fund Management (Managing Clients' Assets-Pension/PF Fund Managers)
 Research Group
IDBI Capital as an institutional player provides the entire gamut of Capital Market services encompassing:
Idbipaisabuilder.in allows investing in equity shares, derivatives (futures & options) mutual funds & IPO's in
India Stock Markets. You can buy or sell securities on NSE and BSE Stock exchanges.
Mile stones
1995 March Commenced Equity Broking on NSE CM segment
1995 July Built agent Distribution Network across the country

53
1996 October Commenced Debt Broking on NSE WDM segment
1996 December Started operations as a Depository Participant
1996 Started to act as Arranger to Privately Placed Bond issues
1998 April Commenced operations as a Portfolio Manager
1999 February Acquired membership of BSE, Mumbai
1999 November Started operations as a Primary Dealer
2002 March Achieved an outright secondary market turnover exceeding Rs.100000 crore in G-Secs
2000 June Acquired Derivatives memberships of BSE and NSE
2002 October Commenced trading in Interest Rate Swaps
2004 June Commenced Merchant Banking & Corporate Advisory Services
2006 January Launched the online investing portal – www.idbipaisabuilder.in
2006 September IDBI Capital bags CNBC TV18 'Best National Financial Advisor-Institutional' award.
2006 November IDBI Capital ties up with Punjab National Bank and Bank of Rajasthan Bank.
2007 March IDBI Capital ties up with Oriental Bank of Commerce
2007 May IDBI Capital ties up with Karur Vysya Bank (KVB)
2008 January IDBI Capital bags CNBC TV18's prestigious National Financial Advisor Award
2008 March IDBI Capital ties up with Union Bank of India
Account Types
Paisa Power Classic Trading Terminal
1. Paisa Power Classic Account
Paisa Power Classic Account is online stock trading account for beginners and low volumn traders in
India Stock Market. It allows investor to invest in Equity, Mutual Funds and IPOs online. Following
are few popular features of this account:

54
a. Online trading account for investing in Equities and Derivatives.
b. Short learning curve helps you to start quickly.
c. Easy to use features.
d. Evaluate & buy mutual funds schemes online and check on fund rankings through our
performance map.
e. Apply for IPO‟s online. No paper work or check required for applying in IPOs.
f. Integration of: Online trading + Bank + Demat account
g. Trading is available in both BSE and NSE.
Paisa Power Streaming Trading Terminal
2. Paisa Power Streaming Account
Paisa Power Streaming Account for online trading is for high volume and frequent equity traders. As
classic account this account also provides investment options in Stocks, Mutual Funds and Initial
public offers online. Following are few popular features of this account:
a. Live refreshing equity prices, which enable you to keep track of every price movement as
soon as it takes place.
b. Setting price alerts on the scripts in order to notify you as soon as your scrip reaches a
particular price point.
c. Multiple market watches, message window and trading window.
d. Evaluate & buy mutual funds schemes online and check on fund rankings through our
performance map.
e. Apply for IPO‟s at the click of a button without any of the hassle of tedious paperwork and
processes involved in an offline IPO application.
f. Trading is available in both BSE and NSE.
IDBI Paisa builder Advantages

55
1. Idbipaisabuilder.in enables you to set up a single integrated 3-in-1 account that links your Bank,
Demat and Trading accounts.
2. All your transactions are online which means absolutely no paperwork involves.
3. You can invest anywhere, at absolutely anytime, even when the market is closed. All your orders are
confirmed immediately with no delays.
4. Trade over Phone (ToP) facility is available in addition to internet trading. ToP allows you to place
orders or check order status on phone.
5. Idbipaisabuilder.in website is 'VeriSign Certified', which ensures complete confidentiality of your
transactions with highest security.
6. Help documents and demos are available to invest in equity, mutual funds and IPO‟s which helps you
to get familiar with the process on investing through Idbipaisabuilder.in
Competitors
Share Khan
Incorporated in February 2000, Sharekhan is India's 2ndlargest stock broker providing brokerage services
through its online trading website Sharekhan.com and 1950 Share shops which includes branches & Franchises
in more than 575 cities across India. Sharekhan has seen incredible growth over last 10+ years though it's very
successful online trading platform and the chain of franchises located in almost every part of India. Sharekhan
has over 10 lakh retail and institutional customers.
Sharekhan.com is the finest investment portal for India stock market. The well designed website provides wide
range on investment options, latest stock market updates and many tools for investors.
Sharekhan also offers 'Sharekhan TradeTiger, one of the most popular trading terminals, for retail investors.
The TradeTiger is quite similar to Broker Terminal and allows frequent traders to place and execute their
orders at a high speed. It also provides live data and other tools on the same screen to help the users with their
trades.
Share khan‟s 'Share Mobile' platform offers trading facility though mobile application. Mobile apps are
available for popular iPhone, iPad, Blackberry, Android and other phones.
Services offered by Sharekhan include trading in equity, F&O and Commodity and investment in IPO's,
Mutual Funds, Insurance, Bonds and NCD's. Company also provide Sharekhan Demat Account and registered
as a depository participant with NSD and CDS.

56
Sharekhan offers verity of accounts to suite customer requirement. These accounts include Sharekhan First
Step Account, Sharekhan Classic Account, Sharekhan Trade Tiger Account and Portfolio Management
Services (PMS) though Sharekhan Platinum Circle Account.
Sharekhan has its own research teams which regularly publishes investment advices, stock tips, quarterly
company result analysis and news alerts to its customer though email, SMS and on Sharekhan.com. Sharekhan
has an excellent knowledge center on its website to help stock and commodity market investors of all kind. It
also offers free online and classroom seminars / workshops to investors. Each Sharekhan Accounts comes with
online and in-person help from Sharekhan representative.
Account Types
1. Classic account
Allow investor to buy and sell stocks online along with the following features like multiple watch
lists, Integrated Banking, demat and digital contracts, Real-time portfolio tracking with price alerts
and Instant credit & transfer.
a. Online trading account for investing in Equities and Derivatives
b. Free trading through Phone (Dial-n-Trade)
I. Two dedicated numbers for placing your orders with your cellphone or landline.
II. Automatic funds transfer with phone banking (for Citibank and HDFC bank
customers)
III. Simple and Secure Interactive Voice Response based system for authentication
IV. get the trusted, professional advice of our tele- brokers
V. After hours order placement facility between 8.00 am and 9.30 am
c. Integration of: Online trading + Bank + Demat account
d. Instant cash transfer facility against purchase & sale of shares
e. IPO investments
f. Instant order and trade confirmations by e-mail
g. Single screen interface for cash and derivatives
2. Trade Tiger account
This is a net based executable application for active traders who trade frequently during the day's
trading session. Following are few popular features of Trade Tiger account.
a. A single platform for multiple exchange BSE & NSE (Cash & F&O), MCX, NCDEX
b. Multiple Market Watch available on Single Screen
c. Hot keys similar to a traditional broker terminal
d. Tie-up with 12 banks for online transfer of funds
e. Different tools available to gauge market such as Tick Query, Ticker, Market Summary,
Action Watch, Option Premium Calculator, Span Calculator

57
Sharekhan Advantages
1. Sharekhan offers different trading platform to suite customer requirement. This includes online
browser based trading, Installable terminal, mobile, call n trade and in-person trade though branch
offices.
2. It offers different brokerage slabs to suit individual customers. Higher your trade your brokerage gets
reduced. They have multiple brokerage schemas are available with them.
3. Sharekhan offers online and classroom training, seminars and workshops to investors.
4. Sharekhan doesn't charge for Online Funds Transfer from bank account and Funds Pay-out to bank
account.
5. Sharekhan doesn't charge for DP transactions. Share transfer from and to the dp account is free.
6. Sharekhan has India-wide network of branches. You can find surly find a Sharekhan in your
neighborhood.
7. Call & Trade facility is free with Sharekhan.
Sharekhan Disadvantages
1. Sharekhan doesn't offer 3-in-1 account as they don't provide banking services.
2. They brokerage charges are % based which are higher in comparison to flat fee brokers.
3. They charge minimum brokerage of 10 paisa per stock would not let you trade stocks below 20 rs. (If
you trade, you will lose majority of your money in brokerage).
4. Facility to place orders after trading hours is not available.
5. Classic account holders cannot trade commodities.
Sharekhan Brokerage Charges 2013
Account Opening Fees & Annual maintenance charges (AMC)
 Trading Account Opening Charges (One Time): Rs 750 (Classic Account), Rs 1000 (Trade Tiger
Account)
 Trading Annual maintenance charges (AMC): Rs 400 (First year remains free)
 Demat Account Opening Charges (One Time): Included in trading account opening charges
 Demat Account Annual Maintenance Charges (AMC): Rs. 400 (Free for 1st year with trading
account.)
Trading Brokerages
 Intra-day Trades: 0.1% on the buy side and 0.1% on the sell side.
 Delivery Based Trades: 0.5% or 10 paise per share or Rs. 16/- per scrip whichever is higher.

58
 F&O Trades: 0.1% on the first leg and 0.02% on the second leg if squared off on the same day and
0.1% if squared off on any other day.
 Options Trades: Rs. 100/- per contract or 2.5% on the premium (whichever is higher).
Amount
(Rs)
Period Cash
Leg 1
Cash
Leg 2
Delivery Future
Leg 1
Future
Leg 2
same
day
Future
next
day
Option Intraday
transaction
Delivery
transaction
Default 0.1 0.1 0.5 0.1 0.02 0.1 Higher of
2.5% of
premium
or Rs 100
750 6
months
0.1 0 0.5 0.1 0 0.1 Higher of
2.5% of
premium
or Rs 100
7,50,000 1,50,000
1000 6
months
0.09 0 0.45 0.09 0 0.09 Higher of
2.25% of
premium
or Rs 95
11,11,111 2,22,222
2000 Annual 0.07 0 0.4 0.07 0 0.07 Higher of
1.5% of
premium
or Rs 80
28,57,143 5,00,000
6000 Annual 0.05 0 0.25 0.05 0 0.05 Higher of
1% of
premium
or Rs 70
1,20,00,000 24,00,000
18000 Annual 0.04 0 0.2 0.04 0 0.04 Higher of
1% of
premium
or Rs 50
4,50,00,000 90,00,000
30000 Annual 0.03 0 0.18 0.03 0 0.03 Higher of
0.75% of
premium
or Rs 40
10,00,00,000 1,66,66,667
60000 Annual 0.02 0 0.15 0.02 0 0.02 Higher of
0.50% of
premium
or Rs 30
30,00,00,000 4,00,00,000
100000 Annual 0.015 0 0.1 0.015 0 0.015 Higher of
0.55% of
premium
or Rs 25
66,66,66,667 10,00,00,000
200000 Annual 0.005 0.005 0.08 0.005 0.005 0.005 Flat Rs 10 2,00,00,00,000 25,00,00,000

59
Sharekhan Post Paid Plans
Sharekhan offers following postpaid plans. To get the offer customer has to deposit the margin money with
Sharekhan based the plan they choose. The brokerage reduces as the margin money is high.
Margin
Scheme
Cash
Leg 1
Cash
Leg 2
Delivery Future
Leg1
Future Leg 2
same day
Future next
day
Option
25 K 0.1 0.1 0.5 0.1 0.02 0.1 Higher of 2.5% of
premium or Rs 100
30 K 0.1 0 0.5 0.1 0 0.1 Higher of 2.5% of
premium or Rs 100
40 K 0.09 0 0.45 0.09 0 0.09 Higher of 2.25% of
premium or Rs 95
50 K 0.07 0 0.4 0.07 0 0.07 Higher of 1.5% of
premium or Rs 80
1 Lakh 0.05 0 0.25 0.05 0 0.05 Higher of 1% of premium
or Rs 70
3 Lakh 0.04 0 0.2 0.04 0 0.04 Higher of 1% of premium
or Rs 50
5lakhs 0.03 0 0.18 0.03 0 0.03 Higher of 0.75% of
premium or Rs 40
10 Lakhs 0.02 0 0.15 0.02 0 0.02 Higher of 0.60% of
premium or Rs 30
20 Lakhs 0.015 0 0.1 0.015 0 0.015 Higher of 0.55% of
premium or Rs 25
Angel Broking Limited
Angel Group has emerged as one of the top 3 retail broking houses in India. Incorporated in 1987, it has
memberships on BSE, NSE and the two leading commodity exchanges in India i.e. NCDEX & MCX.
Angel is also registered as a depository participant with CDSL.
Angel's retail stock broking house offering a gamut of retail centric services.
 E-broking
 Investment Advisory
 Portfolio Management Services

60
 Wealth Management Services
 Commodities Trading
Angel Trade's Trading Platforms
Angel Broking offers 5 trading platforms to its customers:
1. Angel Diet
It is an application based trading platform where rates are updated automatically. All segments are
available on a single screen. This is ideal platform for the daily traders.
2. Angel Trade
It is a browser based trading platform. The rates are updated automatically. This platform is useful for
investors & traders to access market from different terminals.
3. Angel Investor
It is a browser based trading platform for investors. It's an easy online trading platform accessible even
behind proxy and firewall system set up.
4. Angel Lite
This platform allows accessing and trading even on slow internet connection. This platform provides
facility to view live rates, last traded price and % change of your stocks.
5. Angel Swift
This is a Mobile trading platform for mobile applications. Trading can be done on Equity and
Commodity Market using this platform
Angel Trade Brokerage Charges 2013
1. Account opening fees:
Stock trading account - Rs 575/-
Demat account - Rs 200/-
Commodity trading - Rs 625/-
2. Brokerage:
If Initial margin cheque is more than 25,000
Intraday (Buy & Sell): Rs. 0.04% per trade*
Delivery (Buy & Sell): Rs. 0.40% per trade*
F&O (Buy & Sell) : Rs. 0.04% per trade*

61
If Initial margin cheque is more than 50,000
Intraday (Buy & Sell) : Rs. 0.03% per trade*
F&O (Buy & Sell): Rs. 0.03% per trade*
If Initial margin cheque is more then 1,00,000
Delivery (Buy & Sell) : Rs. 0.20% per trade*
F&O (Buy & Sell): Rs. 0.015% per trade*
Intraday (Buy & Sell): Rs. 0.01% per trade*
Angel Trade Advantages
1. User friendly browser-based / application based online trading platform.
2. Investors have different investment options like Equity Trading, F&O, Commodities, PMS, Mutual
Funds, Life Insurance, Personal Loans, IPO and Depository Services available under one roof.
3. The auto square off time is at 3:15 and an investor can buy up to 4 times the value in his account.
4. Trading account can be linked with popular private banks like HDFC Bank, ICICI Bank, UTI bank
etc.
5. Presence in 450+ cities
6. Trading is available in both BSE and NSE.
Angel Trade Disadvantages
Online money transfer from trading account to bank account is not available:
Trading account can be linked with popular private banks like HDFC Bank, ICICI Bank, UTI bank etc. A
trader can transfer money from his bank to the trading account online. But the reverse transactions are not yet
available online.
This means money, a trader gets after selling shares doesn‟t get credited in his bank account directly. The
trader has to call Angel Trade and request for the deposit. This takes couple of working days.

62
This way angel trade is kind of behind with ICICI Direct where 3 accounts (Bank account, trading account and
demat account) are connected so seamlessly that no manual interfere requires. In ICICI Direct, a trader gets the
money back into his ICICI Bank account as soon as the traders settle down.
Kotak Securities Limited
Incorporated in 1994, Kotak Securities is a full services broker part of popular India based Kotak Mahindra
Bank. The bank has over 1400 branches across India servicing more than 8 lakh customers.
Kotak Securities Limited is among the largest traditional broker in India providing wide range of investment
options to its customers including Trading in Equity & Derivatives, Investment in IPO's, Mutual Funds, Fixed
Deposits, Bonds and many more share market related investment products.
Kotak Sec is the member of BSE and NSE, the popular stock exchanges in India. Company provides stock
trading facilities though many ways including trading terminal, website, mobile application, trading though
branches and call & trade.
Like other tradition brokers in India, Kotak offers facility of Margin Finance, Margin against Securities,
Fundamental and Technical analysis, Research Reports & Tips, SMS alerts and Portfolio Management
Services (PMS).
Kotak Security is also the member of National Securities Depository Limited (NSDL) and Central Depository
Services Limited (CDSL) and provides its own depository services to the customers.
The 3-in-1 account is the key offering of Kotak Securities. The Trinity Account [3 in 1 Account] offers the
combination of broker account, bank account and a demat account. All these accounts are linked together and
work seamlessly to make stock market investment very easy.
Kotak Securities‟ Trading Platforms
Kotak Securities offers multiple trading platforms to suite investor's requirement. Following are the trading
platforms available by Kotak Sec:
1. Website Based Trading – A stock treading website which can be accessed through any popular Web
Browser. This is the most convenient and popular way to invest with Kotak Securities. Kotak also
offers a light weight trading website 'Xtralite', which can be used by investors with slow speed
internet.
2. Trading Terminals (KEATProX and FASTLANE) – Kotak offers two different trading terminal based
application which are very popular among stock traders. KEATProX is an exe based installable

63
desktop application providing fastest trading experience. FASTLANE is a Java applet based
application which gives you a trading terminal kind of experience without any installation on your
computer. FASTLANE gives KEATProX like features and the benefits of website based trading as it
can be access from anywhere though web browser.
3. Mobile Stock Trading – Kotak offers high speed mobile based application to trade in Stock Market.
Through this mobile app, customers can Execute Trades, Monitor Portfolio, View Streaming Quotes
and Intraday Charts.
4. Branch Advisory and Call & Trade – Kotak also offers trading facility though its 1400+ branches and
though call centers using call & trade facility.
Account Types
Kotak offers different account types according to users requirement:
1. Auto Invest
Auto Invest is a unique Online Trading Account which provide investment planning in Gold ETFs
(Exchange Traded Funds), Equities and Mutual Funds to their customers. Gold ETFs are mutual fund
schemes that will invest the money collected from their investors in standard gold bullion.
Kotak's advisor gives the recommendation according to investor's risk capability and investment
plans. Minimum investment of Rs 5000 required for Auto Invest account.
2. Kotak Gateway
Kotak Gateway account opens the gateway to a world of investing opportunities for beginners. Kotak
Gateway user can trade anywhere, anytime using internet. Kotak also offers call and trade facility.
Investor can also trade Currency Derivative using Kotak gateway account.
Kotak Securities provide SMS alert, research report, free news and market updates to the account
holders. Best feature of Kotak gateway is call and trade facility. Anybody can activate Kotak Gateway
account with any amount between Rs20000 to 5, 00,000. This can be in form of cash deposit or the
value of the shares you buy. Brokerage will be charged based on the account type. For intraday trading
brokerage is .06% both sides for less than 25 lakhs and .023% for more than 25crores.
3. Kotak Privilege Circle
Kotak Privilege Circle is the premium investment account offed by Kotak Securities. Along with
Kotak Gateway account benefits Kotak provides independent market expertise and support through a
dedicated relationship manager and a dedicated customer service desk which provides assistance in
opening accounts, handling day-to-day problems, and more. They provides KEAT premium which is
an exclusive online tool that lets you monitor what is happening in the market and view your gains
and losses in real-time.

64
One can activate Kotak Privilege Circle account with any amount more than Rs.10,00,000 as margin,
by way of cash or stock. For intraday trading brokerage is .06% both sides for less than 25 lakhs and
.03% for more than 25crores.
4. Kotak Freedom for Mutual Fund Investments.
5. Kotak Super Saver, a Flat Brokerage and a Low Margin account.
6. PMS (Portfolio Management Service), an account for people who need an
expert to help to manage their investments.
7. NRI Account, a online trading an investment account for NRI investors.
8. Trinity Account [3-in-1 Account]
Trinity Account is an integrated account that helps investors enjoy the benefits of a Online Trading
Account, Bank Account, Demat Account on a single platform for your securities transaction. This
account gives convenience of fund transfer and online trading.
Kotak Securities Brokerage Charges 2013
Account opening fees:
 Trading Account Opening Charges (One Time): Rs 750
 Trading Annual maintenance charges (AMC): Rs 0
 Demat Account Opening Charges (One Time): -
 Demat Account Annual Maintenance Charges (AMC): Rs 600 per annum
Trading Brokerages:
Kotak Gateway (Variable Brokerage) (* All charges are on both sides)
 Delivery Based Trades Brokerages: 0.59% - 0.18% (For trading amount of '< 1lakh' to '> 2crore')

65
 Intra-day Trades Brokerages: 0.06% - 0.03% (For trading amount of '< 25 lakhs' to '> 5crore')
 F&O Trades Brokerages (Intraday): 0.07% - 0.023% (For trading amount of '< 2crores' to '> 25crores')
 F&O Trades Brokerages (Settlement): 0.09% - 0.032% (For trading amount of '< 2crores' to '>
25crores')
 Options Trades: Rs.100/- per lot
Kotak Gateway (Fixed Brokerage) (* All charges are on both sides)
 Delivery Based Trades: 0.49%
 Intra-day Trades: 0.049%
 Futures Trades: 0.049%
 Options Trades: Rs.100/- per lot or 1% on premium whichever is higher
Kotak Securities Demat Account Charges:
Sr Account Head Rate Minimum Payable
1 Dematerialization Rs.50/- per request and Rs.3/- per
certificate
--
2 Rematerialisation Rs.10/- for 100 shares Rs. 15/-
3 Debit Transactions - On Market
and Off Market
0.04% of the value of securities (Plus
NSDL charges as applicable)
Rs. 27/- (Plus NSDL
charges as applicable)
4 Account Maintenance Charges
 Resident Indian
 NRI
 Rs. 50/-per month
 Rs. 75/-per month
--
5 Pledge Charges 0.05% of the value of securities Rs. 30/-
6 Invocation of Pledge 0.04% of the value of securities Rs. 30/-
7 Charge for Client Master change
intimation
Rs.25/-
Kotak Securities Advantages
1. Kotak Securities website provides wide range of investment options. This includes investment in
equity, IPO‟s, Bonds, FD‟s, ETF‟s, Mutual Funds, Currency Derivatives etc.
2. Along with the online trading facility, customer gets access to 1400+ branches for help on investment
and issue resolution.
3. Kotak Securities provide daily SMS alerts, market pointers, periodical research reports, stock
recommendations etc. to help the customers.
4. Online Chat facility is available to support customer.
5. Kotak security offers easy integration of trading account with Citibank, HDFC Bank, UTI Bank and
Kotak Mahindra Bank.
Kotak Securities Disadvantages

66
1. Kotak Securities is a Full Services Broker. The brokerage changed by them is higher than the
Discount Brokers.
Standard Chartered
standard Chartered – STCI Capital Markets Limited (formerly UTI Securities Ltd), is a leading broking
company in India, provides a wide range of financial services including Investment Banking, Institutional
Equity & Derivative Broking, Fixed Income, Research, Retail Equity, Portfolio Management, Distribution of
financial products and Depository services.
On 11 January 2008, Standard Chartered Bank Ltd (SCBM) acquired 49% stake in UTI Securities Limited
from Securities Trading Corporation of India (STCI). Accordingly, the name of the company was changed
from „UTI Securities Limited‟ to „Standard Chartered – STCI Capital Markets Limited‟.
Standard Chartered – STCI Capital Markets Limited is registered as a trading and clearing member with
Bombay Stock Exchange Limited (BSE), National Stock Exchange of India Limited (NSE) and MCX Stock
Exchange Limited. The Company is also registered as Depository Participant with Central Depository Services
(India) Limited (CDSL) as well as National Securities Depository Limited (NSDL).
Standard Chartered's Trading Platforms
STCI offers 3 different online trading platforms to its customers:
1. Easy Trade:
Easy Trade is a powerful and user friendly browser based online trading website for beginners. It provides
unique integrated account which link banking, broking, and demat accounts. Trader can get the latest stock
quotes, unlimited access to trading history, current order status, access to all back end reports and data.
2. Advanced Trade:
Advance Trade is an Applet-based system, designed especially for active traders. Advance Use gives
access to their traders to view live streaming quotes which enables them to keep track of real-time price
movement. Multiple market watch, message window and trading window, all in one screen help customers
to track individual stocks and make timely trades when investing online.

67
3. Super Trade:
Super Trade is an advanced, customizable online trading platform built exclusively for active traders. It
offers professional and complimentary tools which enable their user to view streaming, intraday, daily and
weekly charts, personalized quick stock quote lists and real-time updates.
Standard Chartered Brokerage Charges 2013
Account Opening Fees for EASY TRADE:
 Trading Account Opening Charges (One Time): Rs 499
 Trading Annual maintenance charges (AMC): Rs 0
 Demat Account Opening Charges (One Time): Nil
 Demat Account Annual Maintenance Charges (AMC): Rs 600 per annum
Trading Brokerages:
EASY TRADE (Fixed Brokerage) (* All charges are on both sides)
 Equity Delivery Based Trades: 0.50%
 Equity Intraday Trades: 0.050%
 Equity Future: 0.050%
 Options Trades: Rs. 100/- per lot
STCI Capital Markets offers three kinds of platforms as above. Below are detail about fees and activation
charges for each account:
1. Easy Trade:
Account activation charges Rs.499/-.
2. Advance Trade:
3. Super Trade:
Standard Chartered Advantages
1. They provide intraday reports and historical charting.
2. Varity of fee structure to fulfill need of different type of investors.
3. User can access sector-wise information to track sectors and individual scrips within the sector.
4. STCI provides "Quick Mail" tool so user can resolve all the problems online.

68
Comparison with top 4 competitors
Sharekhan Angel
broking
limited
IDBI capital Kotak
securities
limited
Standard
chartered
Type of broker Full Service
broker
Full Service
Broker
Full Service
Broker
Full Service
Broker
Full Service
Broker
Supported
exchange
BSE, NSE,
MCX, NCDEX,
NSE
BSE, NSE,
MCX
BSE, NSE
BSE, NSE,
MCX-SX
BSE, NSE,
MCX
Account type Classic Account Angel Diet Paisa Power
Classic
Kotak Gateway
- Fixed
Brokerage
Easy trade
Stock broker fees/charges
Trading
account
opening fees
Rs 750 Rs 0 Rs 700 Rs 750 Rs 500
Trading
account AMC
Rs 400 Rs 347 NIL NIL
Demat account
opening fees
Rs 0 NIL NIL Nil
Demat account
AMC
Rs 400 Rs 0 Rs 350 Rs 600 Rs 600
Trading broking charges
CM segment-
cash delivery
0.50% 0.40% to 0.10% 0.65% - 0.25% 0.49% 0.50%
CM segment-
cash intraday
0.10% 0.04% to 0.01% 0.10% - 0.03% 0.049% 0.050%
Margin trading
F&O segment-
futures
0.10% 0.04% to 0.01% 0.10% - 0.03% 0.049% 0.050%
F&O segment-
options
Rs. 100 0.04% to 0.01% Rs 100 per lot Rs 100 Rs 100
Other
brokerage
charges
Minimum
brokerage
charges
10 paise per
share
Rs 25 per trade
or 2.5% of the
trade value
4p for
delivery,3p for
Intraday &
Rs 25

69
whichever is
lower.
Futures
Share broker features
3 in 1 account   
Mobile trading     
Charting     
After trading
hour orders
   
Good till
cancelled(GTC)

SMS alert   
Online demo    
Online
portfolio
    
Investment options available
Stock/equity     
Commodity    
Currency    
Initial public
offers(IPO)
    
Mutual funds     
Bond/NCD   
Debt   
Other
investment
options
Customer service offered
24/7 customer
service
    
Email support     
Online live chat   
Phone support     
Toll free
number
   
Through
branches
    
Research/tips/reports published
Daily market
report
    
Free tips     
Quarterly result
analysis
   
News alert     

70
Terms Explanations
Type of broker Brokers in India can be categories by the type of services they provide. There are two
popular types of broker; full-service broker and discount broker.
1. Full-service broker
Full-service brokers are the traditional broker's who offers almost all kind of
investment options and advisory to its customers.
2. Discount Broker
Discount broker's offers less number of services but at a much cheaper price.
They provide no-frill services and specialized into few investment options.
Discount brokers are good for 'do-it-yourself' kind of investors
Supported
exchange
Stocks are traded in stock exchanges. India has two big stock exchanges; BSE and NSE.
Commodities are traded in Commodity Exchanges. There are multiple exchanges available
in India for commodity trading including MCX, NCDEX, NMCE, ICEX and ACE.
Account type
Most brokers offer different types of accounts or plans to suit different individual investors
need. The below comparison is done for selected account type. Visit broker detail page for
more account types.
Stock broker fees/charges
Trading
account
opening fees
The broker charges an account opening fee to open a new share trading account. The
Account Opening fees is generally different for different types of account. This fees is
non-refundable
Trading
account AMC
The broker charges an Account Maintenance Fee; also called Annual Maintenance Fee
(AMC) for trading account.
This fee is payable yearly irrespective to the uses of the account. It is automatically
deducted from your account.
Demat account
opening fees The broker charges Demat Account Opening Fee when the new Demat account is opened.
Demat account
AMC The broker charges an Demat Account Maintenance Fee; also called Demat Annual
Maintenance Fee (AMC) for Demat-account. The Demat AMC is charged quarterly and in
most cases automatically deducted from your account
Trading broking charges
CM segment-
cash delivery
Brokerages charged for buy and sell orders in the Cash Segment when the transaction is
settled by delivery
CM segment-

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