1. SUBMITTED TO:- SUBMITTED BY:-
LECTURER OF MBA ROLL NO-1028270001

2. DECLARATION
I AMIT KUMAR hereby declare that the following documented project report
titled “COMPARATIVE STUDY OF MAJOR STOCKBROKING COMPANIES IN
INDIA” is an authentic work done by me as a part of my study a particular
subject.
The Project was undertaken as a part of course curriculum of MBA program
(Full Time).
(AMIT KUMAR)
Place:-Meerut Amit Kumar
Date: ROLL NO-1028270001
2

3. I take this opportunity to express my deep sense of gratitude to DR. Rajul Dutt Director of
J.P SCHOOL OF BUSINESS. For his continuous encouragement, invaluable guidance
and help for completing the present project work. He has been a source of inspiration to
me and I am indebted to him for initiating me in the field of marketing.
I am highly thankful to Mr.IMRAN KHAN(HOD) & MS. VIDISHA GARG for their
guidance, valuable suggestions, encouragement, care and concern. He has been the guiding
light throughout the study
I take this Opportunity as privilege to articulate my deep sense of gratefulness to sir
Himanshu Jain Assistant Manager – Market development of SMC GLOBAL SECURITIES
for his help and positive encouragement.
I wish to express a special thanks to all teaching and non-teaching staff members, J.P
INSTITUTE OF ENGINEERING & TECHNOLOGY .Meerut for their forever support,
encouragement, valuable guidance are gratefully acknowledged. I would like to
acknowledge my Family members and friends for their support, love, help and
encouragement.
3

4. Experience is not what happens to a man; it is
what a man does with
what happens to him.
-- ALDOUS HUXLEY
Many students may have done work on this project in different ways/styles. I have also
tried to work on this project in a different way.
It was for the first time I got the opportunity to work in such a prestigious and well
known organization. And things which I have experienced in my training time are going to
help me through out my life time. I have worked on this project with great enthusiasm and
zeal. I have
tried to cover almost all the things which I have experienced and learned from the
company’s management.
No doubt at present working atmosphere is fine but it needs some alternations, keeping
in mind this view; I have also suggested some improvements/suggestions. The title which
is:
―COMPARATIVE STUDY OF MAJOR STOCK BROKER COMPANY’S”
The main goal of my project is to find out the frequency, uses, modifications
,improvements and appropriate suggestions .It would be my great pleasure , if this project
can help this company to achieve its goal higher any way.
4

5. S. No. Contents Page no.
1. Industry Profile --
 History 1
 What is Stock? 3
 Stock Exchange of India 11
2. Company Profile 21
 Introduction 22
 Key People 26
 Product and Service provided by SMC 34
3. SWOT Analysis 53
4. Other On-Line Stock Broker 56
5. Introduction Of The Topic 88
6. Objective Of the Study 89
7. Research methodology of the project 90
 Source of data 91
8. Data Analysis 92
9. Limitation 99
10. Suggestion & Recommendation 100
11. Conclusion 101
12. Bibliography 102
13. Annexure
5

6. History
Braudel suggests that in Cairo in the 11th century Muslim and Jewish merchants had
already set up every form of trade association and had knowledge of every method of credit
and payment, disproving the belief that these were invented later by Italians. In 12th
century France the courratiers de change were concerned with managing and regulating the
debts of agricultural communities on behalf of the banks. Because these men also traded
with debts, they could be called the first brokers. In late 13th century Bruges commodity
traders gathered inside the house of a man called Van dyer Bourse, and in 1309 they
became the "Brugse Beurse", institutionalizing what had been, until then, an informal
meeting. The idea quickly spread around Flanders and neighboring countries and
"Beurzen" soon opened in Ghent and Amsterdam.
6

7. In the middle of the 13th century Venetian bankers began to trade in government securities.
In 1351 the Venetian government outlawed spreading rumors intended to lower the price of
government funds. Bankers in Pisa, Verona, Genoa and Florence also began trading in
government securities during the 14th century. This was only possible because these were
independent city states not ruled by a duke but a council of influential citizens. The Dutch
later started joint stock companies, which let shareholders invest in business ventures and
get a share of their profits - or losses. In 1602, the Dutch East India Company issued the
first shares on the Amsterdam Stock Exchange. It was the first company to issue stocks and
bonds.
The Amsterdam Stock Exchange (or Amsterdam Beurs) is also said to have been the first
stock exchange to introduce continuous trade in the early 17th century. The
Dutch"pioneered short selling, option trading, debt-equity swaps, merchant banking, unit
trusts and other speculative instruments, much as we know them" (Murray Sayle, "Japan
Goes Dutch", London Review of Books XXIII.7, April 5, 2001). There are now stock
markets in virtually every developed and most developing economies, with the world's
biggest markets being in the United States, Canada, China (Hong Kong), India, UK,
Germany, France and Japan
7

8. WHAT IS STOCK ?
The word stock simply refers to a supply. You may have a stock of T-shirts in your closet
or a stock of pencils in your desk. In the financial market, stock refers to a supply of money
that a company has raised. This supply comes from people who have given the company
money in the hope that the company will make their money grow.
A market is a public place where things are bought and sold. The term "stock market"
refers to the business of buying and selling stock.
Or
"Stock Market" is a term that is used to refer both to the physical location for buying and
selling stocks, and to the overall activity of the market within a certain country. When you
hear "The stock market was down today," it refers to the combined activity of many stock
exchanges.
The correct term for the physical location for trading stocks is the "Stock Exchange." A
country may have many different stock exchanges. Usually a particular company's stocks
are traded on only 1 exchange, although large corporations may be listed in several.
8

9. Why Companies Issue Stock..
If a company wants to grow—maybe build more factories, hire more people, or develop
new products—it needs money. It could get a loan from a bank. But then it would owe
money. By issuing stock, a company can raise money without going into debt. People who
buy the stock are giving the company the money it needs to grow.
Not every company can issue stock. A business owned by one person (a proprietorship) or
a few people (a partnership) cannot issue stock. Only a business corporation can issue
stock. A corporation has a special legal status. Like a school, its existence does not depend
on the people who run it. Under the law it is separate from the people associated with it,
and has special legal rights and
responsibilities as well as its
own unique name.
...And Why People Buy It?
Owning stock in a company
means owning part of that company. Each part is known as a share. If a company has
issued 100 shares of stock, and we bought one, we own 1% of that company. People who
own stock are called stockholders, or shareholders.
Stockholders hope the company will earn money as it grows. If a company earns money,
the stockholders share the profits. Over time, people usually earn more from owning stock
than from leaving money in the bank, buying bonds, or making other investments.
9

10. WHY DO INVESTORS BUY STOCKS?
Generally, investors buy stocks because they believe that
the company will continue to grow - and thus the value
of the stock will rise too.
Buying the stocks of already well-known companies is
relatively safe, but investors who acquire stock in a new company are facing a much more
substantial risk… but they have much more to gain too. For instance, those people who
bought Microsoft shares in the 80s and kept them for a long time saw an exponential rise in
their value - something most investors only dream of.
10

11. WHAT IF IT ISN’T LISTED ON AN EXCHANGE?
Buying partial ownership in a smaller company can still be done of course, but that will be
entirely different kind of investment, one that has nothing to do with stocks. These types of
investment are much less liquid and are much riskier. This is called a ―Private Placement‖
while stock on an exchange is called ―Publicly Traded‖.
Theoretically, publicly traded stock provides more protection because the transaction is
monitored by the Securities and Exchange board of India (SEBI). Because publicly traded
stocks must be traded on a stock exchange, an individual investor always needs a broker
who makes transactions for him. Basically, brokers are people who take orders to buy or
sell a certain stock in exchange for a small commission on the sale. (In other words they are
just glorified sales people).Stock orders may include instructions to buy or sell stock at a
certain price (Limit orders) or simply to trade them for whatever the present price is
(market orders). When the order arrives to a broker, he executes it (or rather, tries to
execute it) by finding a buyer or seller willing to trade for the ordered price. As you
probably see, the other side of transactions is represented by another broker acting on some
instructions, too.
11

12. ADVANTAGES OF STOCKS
Stocks have several advantages over savings investments. Since each share equals partial
ownership in a company, they give the holder some influence over every major decision the
company faces. The decisions are made on one share -
one vote basis and shareholders are often asked to vote
on all important decisions that company is to make.
What is more, being a shareholder entitles you to take
part in any profits the company makes. They are issued as a dividend once or twice a year,
depending on the decision made by company the directors. As the company grows the
value of the stock rises and the profits' distribution along with that.
When the company suffers losses you aren't asked to give anything in, but the value of the
stocks you have will almost surely fall. If you compare the stocks with classical savings
investments like bonds, bank certificates of deposit etc., you will quickly notice that they
have greater potential to earn more money quickly -- but they are much riskier investment,
as the chances of loss is real.
However if you know your share about how the stock market works and what the various
investment strategies are, you can minimize losses. Most investors find out that they do
much better business on the stock market than would be ever possible with any kind of
savings investment.
12

13. One Man, 5,000 Votes?
Stockholders in a company usually have voting rights. They vote on such issues as who
will be elected to the board of directors—the group of people who oversee company
decisions—and whether to buy other companies. Stockholders typically have one vote for
each share they own. Every vote counts, but a stockholder with 5,000 shares will have
more influence on the company than someone with only one share.
Most companies have annual meetings, where stockholders cast votes and ask questions of
the company's leaders. If they cannot attend, stockholders may use an absentee ballot to
vote. Shareholders also receive quarterly and annual reports that tell them how the
company is doing.
13

14. What Goes Up Earns Bucks
When the price of a particular stock rises, that stock is said to be "up," meaning up in price.
When the price falls, the stock is said to have gone "down." The terms "up" and "down" are
also used to describe the rise and fall of the market as a whole.
As a company makes money, the value
of its stock goes up. For instance, pretend
you bought some shares of stock for Rs10
each. Since you share the company's profits,
if it does well the shares might later be worth Rs15 each. You could then sell your stock
and make Rs5 on each share. If the company loses money, however, you would also share
its losses. Those Rs10 shares might each be worth Rs3 if the company fell on hard times
14

15. Of Bears and Bulls
Bears are cautious animals who don't like to move
too fast. Bulls are bold animals who might charge right ahead. An investor is said to be
"bearish" if he or she believes the stock market will go down. A "bearish" investor will buy
stock cautiously.
A "bullish" investor believes the market will go up.
He or she will charge ahead and put more money into the market. An investor can be
bearish or bullish about a particular kind of stock.
Likewise, the term "bear market" describes a time when stock prices have been falling on
the whole. A "bull market" is a period when stock prices are generally rising
15

16. 16

17. STOCK EXCHANGE OF INDIA
1 Ahmedabad Stock Exchange
2 Bangalore Stock Exchange
3 Bhubaneswar Stock Exchange (BhSE)
4 Bombay Stock Exchange (BSE)
5 Calcutta Stock Exchange
6 Cochin Stock Exchange
7 Coimbatore Stock Exchange
8 Delhi Stock Exchange Association
9 Gawahati Stock Exchange
10 Hyderabad Stock Exchange (HSE)
11 Inter-connected Stock Exchange of India
12 Jaipur Stock Exchange
13 Ludhiana Stock Exchange Association
17

18. 14 Madhya Pradesh Stock Exchange
15 Madras Stock Exchange
16 Mangalore Stock Exchange
17 National Stock Exchange of India (NSE)
18 OTC Exchange of India
19 Pune Stock Exchange
20 Saurashtra-Kutch Stock Exchange
21 Uttar Pradesh Stock Association
22 Vadodara Stock Exchange
23 Meerut Stock Exchange
24 Magadh Stock Exchange
18

19. 19

20. National Stock Exchange of India
National Stock Exchange Limited
Type: Stock exchange
Founded: November 1992
Headquarters: Mumbai, India
Website: www.nse-india.com
The National Stock
Exchange of India Limited
(NSE) is a Mumbai-based
stock exchange. It is the
largest stock exchange in
India and the third largest
in the world in terms of
volume of transactions.
NSE is mutually-owned by a set of leading financial institutions, banks, insurance
companies and other financial intermediaries in India but its ownership and
management operate as separate entities.
As of 2006, the NSE VSAT terminals, 2799 in total, cover more than 1500 cities
across India.
20

21. In March 2006, the NSE had a total market capitalization of 4,380,774 crore INR
making it the second-largest stock market in South Asia in terms of market-
capitalization.
Origins
The National Stock Exchange of India was promoted by leading financial institutions at the
behest of the Government of India, and was incorporated in November 1992 as a tax-
paying company. In April 1993, it was recognized as a stock exchange under the Securities
Contracts (Regulation) Act, 1956. NSE commenced operations in the Wholesale Debt
Market (WDM) segment in June 1994. The Capital Market (Equities) segment of the NSE
commenced operations in November 1994, while operations in the Derivatives.
Innovations
NSE has remained in the forefront of modernization of India’s capital and financial
markets, and its pioneering efforts include:
Being the first national, anonymous, electronic limit order book (LOB) exchange to
trade securities in India. Since the success of the NSE, existent market and new
market structures have followed the "NSE" model.
Setting up the first clearing corporation "National Securities Clearing Corporation
Ltd." in India. NSCCL was a landmark in providing innovation on all spot equity
market (and later, derivatives market) trades in India.
21

22. Co-promoting and setting up of National Securities Depository Limited, first
depository in India.
Setting up of S&P CNX Nifty.
NSE pioneered commencement of Internet Trading in February 2000, which led to
the wide popularization of the NSE in the broker community.
Being the first exchange that, in 1996, proposed exchange traded derivatives,
particularly on an equity index, in India. After four years of policy and regulatory
debate and formulation, the NSE was permitted to start trading equity derivatives
three days after the BSE.
The first exchange to trade ETFs (exchange traded funds) in India.
Markets
Currently, NSE has the following major segments of the capital market:
Equity
Futures and Options
Retail Debt Market
Wholesale Debt Market
22

23. Bombay Stock Exchange
The Bombay Stock Exchange Limited (Marathi) (formerly, The Stock Exchange, Mumbai;
popularly called The Bombay Stock Exchange, or BSE) is the oldest stock exchange in
Asia. It is located at Dalal Street, Mumbai, India.
The Bombay Stock Exchange was established in 1875. There are around 3,500 Indian
companies listed with the stock
exchange, and has a significant
trading volume. At October 2006,
the market capitalization of the
BSE was about Rs. 33.4 trillion
(US $ 730 billion).
The BSE SENSEX (SENSITIVE
INDEX), also called the "BSE 30",
is a widely used market index in
India and Asia. As of 2005, it is
among the five biggest stock
exchanges in the world in terms of
transactions volume.
23

24. BSE Broadcast
NDTV Profit's Screen at BSE
The BSE Broadcast is a large ticker on the wall of the BSE, which continuously displays
the latest stock quotes from the market. It will also display – on what is described as India's
and South Asia's largest video screen – India's leading business-news channel: NDTV
Profit.
This new system was unveiled on December 15, 2006, when Dr Prannoy Roy, the
Managing Director of New Delhi Television (NDTV) Ltd, struck the BSE's opening bell.
Mr. Damodaran, the Chairman of the Securities and Exchange Board of India (SEBI), said
that the ticker would provide information and analysis of the financial world.
Market Capitalization
At 17 April 2007 BSE had 2,630 companies which were being actively traded. The
cumulative market capitalization of all these companies on the same day was INR
3,588,734 Crore. The biggest company was Reliance Industries with a market
capitalization of INR 205,688 Cr.
24

25. BSE indices
The BSE SENSEX (also known as the BSE 30) is a value-weighted index composed of
thirty scrips, with the base April 1979 = 100. The set of companies which make up the
index has been changed only a few times in the last twenty years. These companies account
for around one-fifth of the market capitalization of the BSE.
Apart from BSE SENSEX, which is the most popular stock index in India, BSE uses other
stock indices as well:
· BSE 500
· BSE 100
· BSE 200
· BSE PSU
· BSE MIDCAP
· BSE SMLCAP
· BSE BANKEX
· BSE Teck
· BSE Auto
· BSE Pharma
· BSE Fast Moving Consumer Goods (FMCG)
· BSE Consumer Durables (SYMBOL: Cons Dura)
· BSE Metal
25

26. 26

27. Introduction
SMC GROUP, FOUNDED IN 1990, IS INDIA’S BEST EQUITY BROKING HOUSE AND THE
LARGEST DISTRIBUTION NETWORK , PROVIDING A WIDE RANGE OF FINANCIAL SERVICES AND
INVESTMENT SOLUTIONS . A BLEND OF EXTENSIVE EXPERIENCE , DIVERSE TALENT AND CLIENT
FOCUS HAS MADE US ACHIEVE THIS LANDMARK .
OVER THE YEARS , SMC HAS EXPANDED ITS OPERATIONS DOMESTICALLY AS WELL AS
INTERNATIONALLY . EXISTING NETWORK INCLUDES REGIONAL OFFICES AT M UMBAI ,
KOLKATA, CHENNAI, COCHIN, AHMEDABAD, JAIPUR, HYDERABAD, BANGALORE PLUS A
GROWING NETWORK OF 2500+ OFFICES SPREAD ACROSS 460 CITIES/TOWNS IN INDIA.
WE OFFER A DIVERSE RANGE OF FINANCIAL SERVICES WHICH INCLUDES INSTITUTIONAL AND
RETAIL BROKERAGE OF EQUITY , CURRENCY , COMMODITIES , DERIVATIVES , ONLINE TRADING ,
DEPOSITORY SERVICES , FIXED DEPOSITS , IPO S AND MUTUAL FUNDS DISTRIBUTION ,
DEDICATED DESK FOR NRI AND INSTITUTIONAL CLIENTS , INSURANCE BROKING , CLEARING
SERVICES , MARGIN FUNDING , INVESTMENT BANKING, PORTFOLIO MANAGEMENT , WEALTH
ADVISORY & RESEARCH . WE HAVE A HIGHLY EFFICIENT WORKFORCE OF OVER 4000
EMPLOYEES AND OVER 9000 FINANCIAL ADVISORS SERVING THE FINANCIAL NEEDS OF MORE
THAN 7,00,000 SATISFIED INVESTORS .
27

28. WE ARE ALSO AMONGST THE FIRST FINANCIAL FIRMS IN INDIA TO EXPAND OPERATIONS IN
THE LUCRATIVE GULF MARKET, BY ACQUIRING LICENSE FOR BROKING AND CLEARING MEMBER
WITH D UBAI G OLD AND C OMMODITIES EXCHANGE (DGCX). T HE SMC ADVANTAGE :
THE SMC ADVANTAGE:
LARGE AVENUES OF INVESTMENT SOLUTIONS AND FINANCIAL SERVICES UNDER ONE ROOF
PERSONALIZED SOLUTION AND ATTENTION OFFERED TO EACH INVESTORS RESEARCH
SUPPORT AND TIMELY ADVICE BY OUR HIGH - TECH RESEARCH WING AN EXTENSIVE NETWORK
OF BRANCH OFFICES A PERFECT BLEND OF LATEST TECHNOLOGY AND RICH EXPERIENCE OF
OVER 20 YEARS
HONESTY, TRANSPARENCY AND FAIRNESS IMBIBED IN ALL OUR DEALINGS
PROVIDERS OF ONE OF THE BEST TRADING PLATFORMS IN TERMS OF SPEED, CONVENIENCE
AND RISK MANAGEMENT TO TRADE IN NSE, BSE, F&O, NCDEX, MCX,, MCX-SX, NMCE,
ICEX, ACE & DGCX
28

29. 29

30. SMC BRANCH LOCATER 1
30

31. KEY PEOPLE
Mr. S C Aggarwal
(Chairman & Managing Director, SMC Group)
Co-founder and promoter of the SMC Group, Mr Aggarwal has rich and extensive
experience of more than 23 years. He has an in-depth knowledge and strong understanding
of various intricacies of Securities Market and Financial Services. It is through his
exceptional leadership skills and outstanding commitment towards the company that SMC
today has become the Best Equity Brokerage and the Largest Distribution houses of India.
His efforts have led to the diversification of group business from Stock Broking and
Arbitrage to Commodity Broking, IPOs & Mutual Funds distribution, Insurance Products,
Merchant Banking, Wealth Management and Advisory Services. Mr Aggarwal is the Co-
Chairman of Capital Market Committee of ASSOCHAM. He is also a fellow member of
the Institute of Chartered Accountants of India.
31

32. Mr. Mahesh C Gupta
(Vice Chairman & Managing Director, SMC Group)
Mr. Mahesh C Gupta is a Co-founder and Promoter of the SMC Group with more than 23
years of widespread experience in Securities Market. He is also a fellow member of the
Institute of Chartered Accountants of India. His extraordinary leadership skill, astute
business acumen and disciplined life style have helped SMC strongly diversify to a fully
fledged financial services firm with a Pan India presence across 425+ cities providing
Brokerage services in equity, commodity, currency & derivatives, depository services,
clearing services, Investment banking, portfolio & wealth management, distribution of
Insurance, IPOs, Mutual Funds, Fixed Deposites and other 3rd party products. His
principles of honesty, transparency and moral integrity have given SMC strong foundation
based on which it has become the Best Equity Broker and the Largest Distribution House in
India. Mr. Gupta has also given his vital contribution in various conferences & seminars on
securities market.
32

33. Mr. D K Aggarwal
(Chairman & Managing Director – SMC Comtrade Limited & SMC Capitals
Limited; Chairman - SMC Wealth Management Services Limited)
Mr. DK Aggarwal is one of the key architects of success of the SMC Group. Innovation in
offerings, Branding, Research and Arbitrage are his forte. He has more than 20 years of
wide and rich experience in Equity and Commodity Broking and Arbitrage. He is the
Chairman of SMC Wealth Management Services Limited, a joint venture with Sanlam
Group of South Africa. He is an eminent speaker and regularly presents his views and
expertise on various market related issues through print and television media. He is also a
fellow member of the Institute of Chartered Accountants of India. He is the Alternate
National President of Commodity Participants Association of India.
Mr. Pradeep Kumar Aggarwal
Director- SMC Global Securities Limited; Jt. Managing Director- SMC Comtrade Ltd.)
Mr. Pradeep Aggarwal is a self motivated person having a professional approach
emphasising on ethics and integrity. He possesses excellent communication and inter-
personal skills & operates collaboratively with his team members to achieve a common
goal. With an experience of more than 17 years in equity and commodity market, he
innovates, develops and effectively implements new ideas for the growth and progress of
the Arbitrage business of the company’s Securities and Commodities business. Mr
Aggarwal is a person with unmatched sharp calculative skills and analytical bent of mind.
33

34. Mr. Ajay Garg
(Director- SMC Global Securities Limited & SMC Insurance Brokers Pvt Ltd.)
Mr. Ajay Garg is a fellow member of the Institute of Chartered Accountants of India
(ICAI). He has a wide experience of more than 15 years in the Capital Market.
Mr. Garg leads the Broking Operations of SMC Group including, Back office operations,
entire technological functioning of the business, Risk Management & Surveillance, Legal
& Compliance, Corporate Communications & Brand Management and IT & Software
Development. His roles and responsibilities also include Business Development of
Corporate Client Group (CCG) and handling of Corporate Hedging Desk (SCHD). He is
responsible and instrumental for Internet Based Trading and Mobile Trading. Under his
able guidance within last few years, SMC has evolved into a well known and a preferred
brand in the Indian Capital Market.
34

35. Mr Anurag Bansal
(Director- SMC Global Securities Limited)
Mr. Anurag Bansal has extensive experience of more than 12 years in Securities and
Commodities market. His role and responsibilities include management and supervision of
Business Development, Risk Management, Technological Development and administration
of SMC Group in the Western regions of the country. His rich experience has given him a
keen understanding of the market pulse which helps him in analyzing market behaviour.
His efforts in Western India have helped SMC establish itself as a reliable name. He is a
fellow member of Institute of Chartered Accountants of India and Institute of Costs and
Works Accountants of India.
Mr Rakesh Gupta
(Executive Director – SMC Global Securities Ltd)
Mr. Rakesh Gupta has varied experience of more than 13 years in the Capital Market. He
possesses a result oriented professional approach. His ability to understand the business
dynamics, coupled with his sound financial and accounting background and knowledge of
marketing channels has enabled him to manage the Business Development activity of
SMC. Presently he is taking care of the distribution and channel management, retail
broking and sub-broker development of SMC. He is also a fellow member of the Institute
of Chartered Accountants of India.
35

36. Mr. Ravi Aggarwal
(Director- SMC Insurance Brokers Pvt. Ltd.)
Mr. Ravi Aggarwal has more than 10 years of experience in Equity and Commodity
Market. An innovative mind having a rich academic and professional background, his roles
and responsibilities include the establishment and development of Insurance Broking
venture, developing pan-India branch network, designing of systems and processes and
innovative marketing programs. He possesses excellent communication and inter-personal
skills & operates collaboratively with his team members to achieve a common goal. He is
also a member of Institute of Chartered Accountants of India.
36

37. Mr. Lalit Aggarwal
(Director- Moneywise Financial Services Pvt. Ltd.)
Mr. Lalit Aggarwal has a rich working experience of more than 17 years in Securities and
Commodities market. He is actively involved in the development and functioning of
SMC’s Arbitrage business His great dedication and devotion to his work is an inspiration
for his team. A man of great intellect, his ideas have helped SMC in the introduction of
new services in the Arbitrage business. His style of working is highly motivational to his
team members. Mr Aggarwal is a person with unmatched sharp calculative skills and
analytical bent of mind.
Ms. Shweta Aggarwal
(Director- SMC Capitals Limited)
Ms. Aggarwal joined the SMC group in 2005 and in a short span of time, she has
successfully handled multiple critical assignments. In her very first assignment at SMC, she
was the catalyst in successfully setting up of the Human Resource function. Her efforts in
the identification of a new global partner lad to the creation of SMC’s Joint Venture with
Sanlam Investments of South Africa. Currently, she represents SMC in the JV and oversees
the working of both the Companies. She is heads the investment banking vertical of SMC.
37

38. Mr. Pravin Agarwal
(Director- SMC Insurance Brokers Pvt. Ltd.)
Mr. Pravin Agarwal possesses a result oriented professional approach towards the functions
of the organization. With more than a decade of work experience in Insurance and
Financial Industry, he is actively involved in the development of insurance broking
venture, devising strategies for insurance broking and undertaking business development
responsibilities. He is a man with a vision to create a wide-spread business of excellence,
he is the inspiration as he spearheads the company’s management and operations;
strategizing and directing it through its next phase of growth
38

39. 1. BROKING
A. Equities & Derivatives
Overview
Our experienced team of Research Analysts and Advisory Managers guide you with appropriate
solutions, backed by in-depth research, knowledge and expertise on a regular basis. We constantly
help you with strategies for equity and derivatives investment, recommendations for trading on
futures & options, hedging with Nifty and other products and opportunities of near risk free
arbitrage between various segments.
Our Offerings
Online trading: SMC Trading Platform offers online equity & derivatives trading facilities for
investors who are looking for the ease and convenience of a hassle free trading experience. We
provide ODIN application, which is a high-end, integrated trading application for fast, efficient
and reliable execution of trades. You can now trade in NSE and BSE simultaneously from any
destination at your convenience. You can access a multitude of resources like live quotes, charts,
research, advice and online assistance to help you take informed decisions. You can also avail our
state-of-art mobile trading application "SMC mobitade"
39

40. Offline trading: You can also trade through our branch network by registering as our client. We
also provide trade through us on phone by calling our designated representatives in the branches
where you are registered as a client. Trading in Equities with SMC truly empowers you for your
investment needs. We ensure that you have a superlative trading experience through:
A highly process driven, diligent approach
Powerful research & analysis support.
One of the "best-in-class" dealing rooms
Equity advisory team with highly trained equity professionals, who act as your Equity
Advisor and pro-actively help you take informed equity and derivatives investment
decisions and build a healthy portfolio
Pan India coverage
Powerful research support by a pool of highly skilled research analysts
Focused services which make investments in equities simple .
SMS service providing intraday research support to the clients.
Competitive brokerage rates
Call & Trade facility through a simple phone call
A superior trading platform
Prompt news on stock results, earnings, bonus, share holding patterns, etc.
Online trading account which provides exposure against the cash margin as well as shares
lying idle in clients DP account
40

41. A TRADING ACCOUNT STATEMENT
SMC GLOBAL SECURITIES LTD
11/6B,Shanti Chamber,Pusa Road,
New Delhi-110005
HQM0688 AMIT KUMAR
J P IET RAJPURA MEERUT
Telephone: 7471266465
email:ameetjaishwal@gmail.com
(Client ID BSE:HQM0688 NSE:HQM0688) (CDSL ID: NSDL
DP/ID: IN300708/10594692
Group:GZB GZB PAN:AWBPK6430D
Client Margin Information From 27/05/2011 To 03/06/2011
Date -------Narration-------- Debit Credit Balance
27/05/2011 Opening Balance 7.62 7.62 Dr
Sett.R1112038/Sett.
27/05/2011 31507.82 31500.20 Cr
R1112038 25/05/2011
SMCGTransfer to SMCG 64500.20
27/05/2011 33000.00
BANK/008 Cr
Sett.R1112040/Sett.
31/05/2011 64000.35 499.85
R1112040 27/05/2011
499.85
CLOSING BALANCE 64000.35 65000.22
Cr
----------------------------------------------------------------------------------------------------
T T-1
Actual Margin Used Nil Nil
Fixed Margin Nil
Balance with the memeber/due from client 499.85
41

42. B. Currency
Overview
Currently in India, there are 3 major exchanges offering Currency future trading – NSE, MCX-
SX & USE . SMC Global Securities is a trading cum clearing member of all these
exchanges for the currency segment. We believe in the tremendous potential of currency
future to become a dominant force of the Indian financial market with a turnover which can
outperform even equity and commodity segment. We firmly believe that wider market
participation will bring more strength to the market & this can be achieved through
disseminating education & information among various market participants. For us,
currency is not just any other segment of business; it is "the business of future".
42

43. Our Offerings
Offline trading: This is the most traditional way of carrying out trading in financial markets.
Clients can place their orders with our nearest branch by visiting them personally or on the
phone.
Online trading: Online trading offers the convenience to trade from the comfort of your
home / office. We provide trading software which can be downloaded by the client on any
system. Through their user ID & password, clients can start trading online. Alternatively,
we also provide the facility to trade through our browser based application.
Corporate advisory: We believe that corporate participation is the key to growth of this
segment. We understand that corporates have a very special set of requirements for hedging
as well as investment. Every business needs customized solutions to its requirements and
that is what we deliver - hedging / investment solutions based on what is best-suited to the
business dynamics. Our dedicated team of Relationship Managers ensures that our
deliverables exceed the expectations & a long-lasting relationship is built.
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44. 44

45. c . Commodities
Overview
SMC Comtrade Limited, a key constituent of SMC Group of Companies,
came into existence at the very start of Commodity Exchanges in India.
With nationwide presence, it enables the retail & corporate investors to
diversify their portfolio and enjoy the benefits of commodity trading in MCX,
NCDEX, NMCE, ACE & ICEX. Our highly appreciated research team guides
the investors to make wise investment decisions for agri -commodity market
as well as international commodities trading.
SMC Comex International DMCC (part of SMC Group) is one of the initial,
leading & experienced clearing and broking members of Dubai Gold and
Commodities Exchange (DGCX). It offers commodity trading in Gold, Silver,
Crude (WTI & Brent), Forex (INR, Euro, Do llar & Sterling) and Steel Rebar
Contracts. For more information, visit www.smccomex.com
Our edge
Pan India presence
Offline & online trading facilities
Arbitrage expertise
Strong delivery handling team
Dedicated research team having experienced and skilled research
analysts
45

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47. 47

48. 2. DISTRIBUTION
Overview
SMC offers distribution services of IPO, Mutual Funds, Public Issues,
Company Fixed Deposits, Bonds, Acquisitions and Mergers through its
mammoth network of branches across India. SMC also provides retail
application financing in IPO's , FPO's & Bonds. We assure you a hassle
free and pleasant transaction experience through us. Our focus is to
offer integrated solutions for your investment needs of our investors.
Our offerings
Mutual funds: The range of products includes liquid, gilt, debt,
equity and balanced funds. Moreover, the setup of a legal
structure safeguards investors’ interests & ensures that they are
not cheated out of their hard -earned money. Click here to access
complete information on Mutual Funds.
Public issues: It is the first sale of a company's common shares
to public investors. This paves the way for listing and trading o f
their securities on the stock exchange. W ith expert analysis and
timely advice, it can prove to be a highly profitable investment.
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49. Click here to know more about public issues.
Fixed deposits: Company Fixed Deposit is an attractive option for
regular income with option to receive monthly, quarterly, half
yearly & annual interest income. Fixed Deposits in companies earn
a fixed rate of return for specified time period. Deposits mobilised
are governed by the Companies Act under Section 58A. It may be
noted that deposits are unsecured, and hence in of any default by
of company, the investor cannot sell the documents to recover his
capital, thus making it a risky investment option. Click here to
access complete details of Company Fixed Deposits
Bonds: We also deal in Capital Gain Bond Issues which facilitates
tax exemption against long term capital gain as per Sec 54EC of
Income Tax Act. Besides this we all deal in GOI 8% Bonds and
Bonds issued by Companies from time to time. Click here to
access currently available schemes.
Our edge
Being one of the leading distribution houses, we aim at helping you in
financial planning and achieving long-term goals through our widespread
network and team of financial advisors
49

50. 3. RESEARCH
Overview
With the EIC (Economy, Industry, Company) approach, our Research
team offers timely Research reports covering investment summary, trend
of world markets, sector trends, commodity trends. The same is covered
in our esteemed weekly magazine “Wise Money”. We have a team of
highly experienced analysts, who cover stocks, commodity, currency,
mutual funds and special reports. All our research reports, estimates and
enhanced analytics are available on our website
www.smctradeonline.com
Our offerings
Equity Reports:
Morning Mantra
Evening Buzzer
Derivatives
IPO Reports
Wise Money equity content.
50

51. Commodities Reports:
Morning Mantra- Agri
Morning Mantra- metals & energy
Afternoon Metals & Energy
Evening Buzzer- Agri & Metals
Special Commodities Updates
Trading opportunity report
Currency Reports:
Currency Daily
Afternoon Currency Buzzer
Mutual fund Reports:
NFO Analysis
Mutual Fund Tracker
Mutual Fund Weekly update
Portfolio Monitor
51

52. Special reports:
Result Updates
Pre-Budget Analysis
Post-Budget Analysis
Newsletters:
Wise Money
SMS
service
Chat rooms
Our edge
We specialize in five core product areas. These are Equities,
Commodities, Currencies, Derivatives and Mutual Funds. Our views are
purely based on analysis and are independent, unbiased and balanced.
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54. 54

55. 55

56. 4. ONLINE TRADING
Overview
SMC Online is your single gateway for all your financial needs. Now, you can invest
online in Equities, Commodities, IPOs, Mutual Fund Schemes and Currency Futures
anywhere anytime. You can access a multitude of resources like live quotes, charts,
research, advice and online assistance to help you take informed decisions. You can also
access your account from anywhere using our Call-N-Trade services. So get empowered
and enrich your experience of online trading, which opens the door to a whole new world
of possibilities to get convenient & hassle-free online stock trading experience.
Our offerings
SMC Trading Platforms offer investors the ease and convenience of an uninterrupted
trading experience. SMC offers seamless Online Trading experience with freedom to opt
for a product that meets your needs:
SMC SELECT - Easy to use simple web-based trading platform for beginners
SMC EXCLUSIVE - Advanced web-based trading platform with live streaming
quotes
SMC PRIVILEGE - Software-based trading platform for active traders.
SMC Mobitrade - state-of-art mobile trading application.
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57. Clients opting for above mentioned products get facility to invest in IPOs & Mutual Fund
schemes at no extra cost.
Our edge
Convenience of integrating the Bank, Trading and Demat accounts with attractive
brokerage options
Designed for better speed for instant order & trade confirmation
Lifetime free AMC option
User friendly platforms
24 X 7 online back office access
Pan-India presence
Dedicated customer care
Excellent research & advisory support
A range of trading options
State-of-the-art technology
57

58. STRENGTHS
58

59. STRENGTH
• Employees are highly empowered.
• Strong communication network.
• Management philosophy and commitment to maximize shareholders returns
• Upgraded product design and development facilities to develop new products
and aid diversification.
• Ongoing activities to support up gradation of operational performance and
rise in productivity
• Team of talented and committed professionals available to improve
company’s performance weakness.
• Good co-operation between employees.
• Number 1 registrar and transfer agent in India.
• Number 1 dealer of investment products in India
WEAKNESS
• Competition from cheap imports
• Low customer base.
• High employee turnover.
59

60. OPPORTUNITIES
• Growth rate of mutual fund industry is 40 to 50% during last year and it
expected that this rate will be maintained in future also.
• Marketing at rural and semi-urban areas.
____
Threats, Risks & Concerns
• Increasing number of local players.
• Constant pressure to be cost competitive to meet customer
expectations.
• Relentless pressure to maintain profitability due to rising input/raw
material prices.
60

61. ABOUT INDIABULLS
India bulls is India’s leading Financial Services Company having over 640 branches all
over India. It assists in the financial needs of more than 4,50,000 customers with its wide
range of financial services and products from securities, derivatives trading, depositary
services, research & advisory services, consumer secured & unsecured credit, loan against
shares and mortgage & housing finance. With around 4000 Relationship Managers, India
bulls help its clients to satisfy their customized financial goals. India bulls through its group
companies have entered Indian Real Estate business in 2005.
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62. MARKET CAPITALIZATION AND WORTH
India bulls Financial Services Ltd is listed on the National Stock Exchange, Bombay
Stock Exchange and Luxembourg Stock Exchange. The
market capitalization of India bulls is around USD 2500
million (29th December 2006). Consolidated net worth of
the group is around USD 700 million. India bulls and its
group companies have attracted USD 500 million of equity
capital in Foreign Direct Investment (FDI) since March 2000. Some of the large
shareholders of Indiabulls are the largest financial institutions of the world such as Fidelity
Funds, Goldman Sachs, Merrill Lynch, Morgan Stanley and Farallon Capital.
Business of the company has grown in leaps and bounds since its inception. Revenue of the
company grew at a CAGR of 184% from FY03 to FY06. During the same period, profits of
the company grew at a CAGR of 268%.
Indiabulls became the first company to bring FDI in Indian Real Estate through a JV with
Farallon Capital Management LLC, a respected US based investment firm. India bulls has
demonstrated deep understanding and commitment to Indian Real Estate market by
winning competitive bids for landmark properties in Mumbai and Delhi. In April 2006,
Indiabulls announced demerger of its real estate division to a separate entity.
Indiabulls is a diversified company.
It is in the following fields:
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63. 1. Securities
2. Consumer Finance
3. Mortgages
4. Real Estate Development
Consumer Finance
Indiabulls is a retail focused organization fulfilling the credit need of a large percentage of
population in India. The key aspect of Indiabulls business model is to provide an extremely
unique customer experience. The blend of power of the Internet with personalized services
allows Indiabulls to expand its geographical coverage and capture a greater share in the
highly competitive retail market. They offer consumer loans, home loans, personal loans,
securities brokerage, and other financial products and services to retail customers from
across 640 Indiabulls offices in 127 leading cities of the country.
Mortgages
Indiabulls has commenced lending of Mortgage Loans to prospective customers under the
flagship of Indiabulls Housing Finance Ltd. They enable home-seekers to access finance to
buy their homes.
63

64. They also provide plot loans, Loan against Residential, Commercial and Rental Property,
thereby enabling the borrower to leverage the property owned to fund any legitimate needs
be it Business Expansion, Child's Education, Child's Marriage or for Holiday Abroad
Real Estate Development
Indiabulls Real Estate Limited (IREL) is poised to be one of the largest listed real estate
companies in India. A leading player across residential and commercial real estate projects,
IREL is partners with internationally acclaimed consultants, for its developments.
Currently, its projects at various stages of execution are valued at nearly 5 billion dollars
and they include high end office and commercial spaces, premium residential
developments, and Special Economic Zones, covering a land area in excess of 7730 acres.
Major Stake Holders in Indiabulls
LN Mittal and Farallon Capital buy
13.33% in Indiabulls Infrastructure
Development Limited for 447 crores
valuing subsidiary at Rs 3,350 crore.
Mr. L N Mittal, the famous steel
magnate and world’s third richest man,
and a wholly owned unit of San Francisco
based Farallon Capital, the world’s largest
investment fund, have together acquired a 13.33% stake in Indiabulls Infrastructure
Development Limited, the majority owned subsidiary of Indiabulls Financial Services
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65. Limited, for Rs 447 crores. The deal values Indiabulls Infrastructure Development
Limited at Rs 3,350 crores.
Indiabulls Infrastructure Development Limited would be undertaking large scale
infrastructure projects and development of Special Economic Zones to cater to Fortune
500 companies that are interested in setting up manufacturing units in India to leverage
advantages of vast skilled workforce of India.
Mr. L N Mittal has been an investor in Indiabulls Financial Services, the listed
company since the year 2000 when he had originally bought 61.3 lac shares
representing approx 7.52% stake in the company at an average price of Rs 6 per share.
Mr. Mittal’s original investment in Indiabulls Financial Services has appreciated by
more than 90 times in 6 years, and he continues to be a large shareholder in the
company. Around 6 months back Mr L N Mittal had invested approx Rs 90 crores to
buy 8.4 % stake in Indiabulls Credit Services Ltd, an unlisted subsidiary of Indiabulls
Financial Services that focuses on consumer loans.
Farallon Capital has been an investor in Indiabulls Financial Services since the IPO of
the company in year 2004, when it invested at Rs 19 per share and has seen its initial
investment multiply over 25 times. The firm continues to be one of the largest
shareholders of the Company.
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66. Indiabulls Infrastructure Development Limited is focused on infrastructure
development in India and plans to build world-class facilities and infrastructure to
promote the business activities for SEZs.
IIDL will be part of the group of real estate subsidiaries and associates that will form
Indiabulls Real Estate Limited subsequent to the implementation of the Scheme of
Demerger.
The demerger is expected to be completed during the current fiscal quarter, band will result
in the Company’s equity shareholders owning one equity share of Indiabulls Financial
Services Limited, comprising of the financial services business, and one equity share of
Indiabulls Real Estate Limited, comprising of the real estate and construction-development
related business, for each share of the Company they currently own.
―India is a rapidly growing economy and provides a unique opportunity to create world-
class infrastructure and development. Indiabulls group is well positioned in construction-
development and infrastructure market to leverage Indiabulls strong pan-India presence,
strong execution skills, proprietary deal pipeline, and strong track record. The confidence
of Mr. Mittal, a world renowned entrepreneur and investor, and Farallon Capital, one of the
world’s top most funds, in Indiabulls Infrastructure Development Limited is a testament to
the huge opportunity in front of the company,‖
: Sameer Gehlaut, Chairman & CEO of Indiabulls Group.
About Farallon
66

67. San Francisco based Farallon is a registered investment adviser with the US Securities and
Exchange Commission (SEC) and manages over $ 23 billion in equity capital invested
across the world in many different asset classes.
Farallon has a long and successful track record of investing in financial services. In
2002, Farallon had outbid UK’s Standard Chartered bank to buy Bank Central Asia
from the Indonesian Government during the privatization of the bank.
The Institutional Investor ranks Farallon at No 1 position in the world in their annual
rankings of funds.
Growth Story
Indiabulls has emerged as one of the leading and fastest growing financial company in less
than two year, since its initial public offering in September 2004. It has a market
capitalization of around 2,350 million (25th April 2007) and consolidated net worth of the
group is around USD 510 million.2000-01
Indiabulls Financial Services Ltd. established India’s one of the first trading platforms with
the development of an in house team.
67

68. 2001-03 Indiabulls expands its service offerings to include Equity, F&O, Wholesale
Debt, Mutual fund, IPO distribution and Equity Research.
2003-04 Indiabulls ventured into Insurance distribution and commodities trading.
Company focused on brand building and franchise model.
2004-05 Indiabulls came out with its initial public offer (IPO) in September
2004.Indiabulls started its consumer finance business. Indiabulls entered the Indian
Real Estate market and became the first company to bring FDI in Indian Real
Estate. Indiabulls won bids for landmark properties in Mumbai.
2005-06 Indiabulls has acquired over 115 acres of land in Sonepat for residential
home site development.
Merrill Lynch and Goldman sac, one of the renowned investment banks in the
world have increased their shareholding in Indiabulls. Indiabulls is a market leader
in securities brokerage industry, With around 31% share in online trading, Farallon
Capital and its affiliates, the world’s largest hedge fund committed Rs. 2000 million
for Indiabulls subsidiaries Viz. Indiabulls Credit Services Ltd. and Indiabulls
Housing Finance Ltd. Steel Tycoon Mr. LN Mittal promoted LNM India Internet
venture Ltd. acquired 8.2% stake in Indiabulls Credit Services Ltd.
2006-07 Indiabulls entered in a 50/50 joint venture with DLF, Kenneth Builders &
Developers (KBD). KBD has acquired 35.8 acres of land from Delhi Development
68

69. Authority through a competitive bidding process for Rs 450 crore to develop
residential apartments.
Indiabulls Financial Services Ltd. is included in the prestigious Morgan Stanley
Capital International Index (MSCI). Farallon Capital has agreed to invest Rs. 6,440
million in Indiabulls Financial Services Ltd.
Indiabulls ventured into commodity brokerage business. Indiabulls has received
an ―in principle approval‖ from Government of India for development of multi
product SEZ in the state of Maharashtra. Dev Property Development plc has
subscribed to new shares and has also acquired a minority shareholding from the
Company. Indiabulls Financial Services Ltd. Board resolves to Amalgamate
Indiabulls Credit Services Limited and demerge Indiabulls Securities Limited.
69

70. ICICI direct.com India’s leading share trading website, with over 1 lakh customers.
ICICIdirect.com comes from ICICI, an organization that millions of Indians trust.
ICICIdirect.com offers hassle free share trading. It places you in charge of your
investments, with its unique 3-in-1 account.
You can check stock prices online, place a buy/sell order almost instantly, verify orders and
get order confirmations online. And you not need to chase your broker for share transfers
and payments, it all happens electronically.
Services
With ICICIdirect.com unique 3-in-1 account, your e-broking, banking and demat accounts
are completely integrated.
So when we punch in a buy or a sell trade on your computer, the system checks the
limit available in your bank account, the demat portfolio and then executes the trade on
the exchange online.
The bank account and the demat account automatically get debited or credited on
settlement date. Thus, you are in charge of your own investments. You do not need to
follow up your broker for payments and for share transfers.
70

71. What are the charges for your product?
ICICIdirect.com account can be opened for a one-time non-refundable fee of Rs 750/-.
The brokerage rates are very reasonable. The rates vary according to the volume of trades
done by you.
The brokerage rates of ICICIdirect.com are inclusive of demat transaction charges,
service taxes and courier charges for contract notes.
It ranges from 0.03% to 0.1% for margin trades, 0.2% to 0.425% for squared off trades
and 0.25% to 0.75% on delivery based trades.
To give an idea, an investor having a daily average trading volume of Rs 65000/-
will be paying an effective brokerage of 0.50% only , and that too inclusive of all
charges.
Demat account charges: For all trades done through ICICIdirect.com, there are NO
separate charges. However, for all other trades and services like demat, pledge etc, the
charges shall be as per the existing rate card of ICICI demat. An annual maintenance fee
of Rs.500/- (Rs.450/- for customers receiving statement by e-mail) per account is charged.
However, the first year annual maintenance charges are waived for on all accounts opened
through ICICIdirect.com.
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72. For bank account, a minimum quarterly average balance of Rs 5000/- needs to be
maintained.
Why should one open an account with ICICIdirect.com?
The reasons are as follows:
The brokerage rates of ICICIdirect.com are inclusive of demat transaction charges, service
taxes and courier charges for contract notes.
Brokerage rates on ICICIdirect.com is dependant on the volume of transactions done and
also the type of trade put in by you. As mentioned earlier, investors with reasonable
trading volumes anyways get less than 0.5% brokerages (all inclusive).
Even if we assume very low volumes of trading and that too only on Delivery based trading,
brokerage rates are still economical. Let us take an example
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73. ICICIdirect Other broker
Normal brokerage 0.85% max Lets say 0.50%
A Transaction value 10000 10000
B Brokerage (Rs.) 85.00 50.00
C Service Tax (5% of B) NIL 2.50
D Other charges (0.03% of A) NIL 3.00
E Demat charges NIL 25.00
F Total charges (Rs.) B+C+D+E 85.00 80.50
How much do we pay for an average demat transaction?
ICICI demat has a Market Buy rate of 0.03% or Rs 25/-, whichever is higher, for
EVERY trade. If we calculate, an investor has to buy at least up to Rs 83333/- worth of
shares to pay 0.03% in EVERY Trade. Obviously not many people pay 0.03%. They pay
Rs 25/- instead.
Suppose an average person trades in Rs10000/- in every trade, he shall pay Rs 25/- for
demat charges. This comes to 0. 25% of his trade amount.
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74. So he pays at least 0.75% and not 0.50%. Add other charges to this and it will go up to
at least 0.80%. On top of it, one may incur the local conveyance directly or indirectly in
collecting/sending cheques/TIFDs with the broker concerned.
Add to this, ICICIdirect credits the funds to your bank account on the pay-out day itself
(one can even withdraw it on the same day).
To summarize, ICICIdirect.com ensures a hassle free, fast, transparent, easy and
trustworthy service at reasonable rates. More it also gives you latest market updates, live
quotes and market charts to help you GET CONTROL of your own trade.
Motilal Oswal Financial Services is a well diversified financial services group having
businesses in securities, commodities, investment banking and venture capital With
1160 Business locations and more than 2, 00,000 investors in over 360 cities.
Motilal Oswal is well suited to handle all our wealth creation and wealth
management needs.
The company has in the last year placed 9.48% with two leading private equity
investors
 New Vernon Private Equity Limited
74

75.  Bessemer Venture Partners
At post money company valuation of Rs. 1345 crore. (Rs. 13.45 billion).
Motilal Oswal Financial Services Ltd., consists of four companies.
1. Motilal Oswal Investment Advisors Pvt. Ltd.
2. Motilal Oswal Commodities Broker (P) Ltd.
3. Motilal Oswal Venture Capital Advisors Private Limited
4. Motilal Oswal Securities Ltd. (Most) is a leading research and advisory based
stock broking house of India, with a dominant position in both institutional equities
and retail wealth management. Their services include equities, derivatives, e-broking,
portfolio management, mutual funds, commodities, IPO’s and depository services.
Motilal Oswal Securities Ltd. was founded in 1987 as a small sub-broking unit, with
just two people running the show. Focus on customer-first-attitude, ethical and
transparent business practices, respect for professionalism, research-based value
investing and implementation of cutting-edge technology have enabled them to
blossom into an almost two thousand-member team. Their institutional business unit
has relationships with almost all leading foreign institutional investors (FIIs) in the
US, UK, Hong Kong and Singapore.
Most EAG
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76. In keeping with its tradition of personalized service, Motilal Oswal Securities
Limited set up Most EAG to provide customized and integrated equity solutions to
High Net worth Investors like you.
Equity Research is an inherent strength of Most. They believe in picking investment
opportunities where the underlying value is higher than the market price.
Most EAG team has highly trained equity professionals, who act as your
Relationship Managers (RMs). Most RMs proactively help you take informed equity
investment decisions and build a healthy portfolio.
1Paisa Trading
Online trading just got better with My Broker - the online trading service from
Motilal Oswal. We can trade in derivatives for a brokerage fee as low as 1 paisa per
Rs.100. (0.01%).
76

77. Kotak Securities Ltd. is India's leading stock broking house with a market share of
close to 9 % as on 31st March 2007. Kotak Securities Ltd. has been the largest in IPO
distribution.
The accolades that Kodak Securities has been graced with include
Euro money Award (2006 & 2007) - Best Provider of Portfolio Management :
Equities
Asiamoney Award (2006)- Best Broker In India.
Euromoney Award Finance India Asia Award (2005)-Best Broker In India
(2005)-Best Equities House In India
Finance Asia Award (2004)- India's best Equity House
Prime Ranking Award (2003-04)- Largest Distributor of IPO’s
77

78. Other achievements
The company has a full-fledged research division involved in Macro Economic
studies, Sect oral research and Company Specific Equity Research combined with
a strong and well networked sales force which helps deliver current and up to
date market information and news.
Kotak Securities Ltd is also a depository participant with National Securities
Depository Limited (NSDL) and Central Depository Services Limited (CDSL),
providing dual benefit services wherein the investors can use the brokerage
services of the company for executing the transactions and the depository
services for settling them.
Kotak Securities has 813 outlets servicing more than 3, 15,000 customers and
coverage of 277 Cities. Kotaksecurities.com, the online division of Kotak
Securities Limited offers Internet Broking services and also online IPO and
Mutual Fund Investments.
Kotak Securities Limited manages assets around 2300 crores of Assets under
Management (AUM) .The portfolio Management Services provide top class
service, catering to the high end of the market. Portfolio Management from Kotak
Securities comes as an answer to those who would like to grow exponentially on
the crest of the stock market, with the backing of an expert.
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79. Kotak Securities has the following areas of business:
 Institutional Stock Broking
 Private Client Services
 Client Money Management
 Retail distribution
 Depository Services
Trading Gateway
Kotak Securities Gateway Account opens the gateway to a world of investing
opportunities. We may be anywhere, anytime and still manage to place your trades
using the Internet or our Call and Trade Facility. Open the Kotak Securities Gateway
Account and get started.
79

80. Special service charges:
Access K.E.A, T Desktop free of cost and K.E.A.T Premium for Rs.500/-
per month. Get kotak securities SMS alerts @Rs100/- per month. Call and
trade free for first 20 calls. From the 21call, we pay Rs20/-per call.
Margin finance at 20%.
The brokerages charged are as per the volumes that are achieved. Based
on these volumes a client can be either debited or credited an amount,
which is as per the volumes he/she may achieve at the end of the month
80

81. S h a r e k h a n
Share khan, one of India's leading brokerage houses, is the with over 510 share shops in
170 cities, and India's premier online trading portal www.sharekhan.com.
81

82. Services offered
Personalized Advice
Live Market Information
Depository Services: Demat Transactions
Derivatives Trading (Futures and Options
A Share khan outlet also offers the following services:
 Online BSE and NSE executions (through BOLT & NEAT terminals)
 Free access to investment advice from Share khan’s Research team
Share khan Value Line
 Daily research reports and market review (High Noon & Eagle Eye)
 Pre-market Report (Morning Cuppa)
 Daily trading calls based on Technical Analysis
 Cool trading products (Daring Derivatives and Market Strategy)
 IPO’s & Mutual Funds Distribution
 Internet-based Online Trading: Speed Trade
82

83. Charges
Account Opening Nil
Annual Maintenance Charges Rs.300 p.a
Brokerage Minimum Brokerage of Rs. 20/
Account Closing Nil
Off market transfer transaction. (Min.Rs.30)
Dematerialization Rs.5 per certificate
Pledge Creation 0.02% of the value of the transaction (Min Rs.50)
Freeze/De-freeze Rs.25 Per request
Advance Rs.500 Advance which will be adjusted
83

84. India Info line Ltd is listed on both the leading stock exchanges in India, viz. the Stock
Exchange, Mumbai (BSE) and the National Stock Exchange (NSE).
The India Info line group, comprising the holding company, India Info line Ltd and its
subsidiaries, straddles the entire financial services space with offerings ranging from
Equity research, Equities and derivatives trading, Commodities trading, Portfolio
Management Services, Mutual Funds, Life Insurance, Fixed deposits, GoI bonds and other
small savings instruments to loan products and Investment banking. India Infoline also
owns and manages the websites, www.indiainfoline.com and www.5paisa.com
India Infoline Investment Services Ltd
India info line investment services ltd is also a 100% subsidiary of India info line ltd. It has
an NBFC license from the reserve bank of India (RBI) and offers margin funding facility to
the broking customers.
84

85. India Infoline Securities Pvt Ltd
India Infoline Securities Pvt Ltd is a 100% subsidiary of India Infoline Ltd, which is
engaged in the businesses of Equities broking and Portfolio Management Services. It holds
memberships of both the leading stock exchanges of India viz. the Stock Exchange,
Mumbai (BSE) and the National Stock Exchange (NSE). It offers broking services in the
Cash and Derivatives segments of the NSE as well as the Cash segment of the BSE.
A SEBI authorized Portfolio Manager; it offers Portfolio Management Services to clients.
These services are offered to clients as different schemes, which are based on differing
investment strategies made to reflect the varied risk-return preferences of clients.
India Infoline Distribution Co Ltd (IILD)
India Infoline Insurance Services Ltd
India Infoline Insurance Brokers Ltd
85

86. Equities
Over the last five years, India Infoline sharpened its competitive edge through the
following initiatives:
The company is among the few financial intermediaries in India to offer a complement
of online and offline broking. The company’s network of branches allows customers to
place orders on phone or by visit.
The customer can trade on the BSE and NSE, in the cash as well as the derivatives
segment all through the available multiple options of Internet, phone or branch
presence.
The Company harnessed technology to offer services at among the lowest rates in the
business. Membership: The Company widened client reach in trading on the domestic
and international exchanges.
The Company provides a prudent mix of proprietary and outsourced technologies,
which facilitate business growth without a corresponding increase in costs.
86

87. The Company has leveraged its research capability to provide regular updates and
investment picks across the short and long-term.
Clients can access the customer service team through various media like toll-free lines,
emails and Internet- messenger chat for instant query resolution. The Company’s
customer service executives proactively contact customers to inform them of key
changes and initiatives taken by the Company. Business World rated the Company’s
customer service as ‘Best’ in their survey of online trading sites carried out in
December 2003.
Key features
 Membership on the Bombay Stock Exchange Limited and the National Stock
Exchange
 Registered with the NSDL as well as CDSL as a depository participant, providing a
one-stop solution for clients trading in the equities market
 Broking services in cash and derivative segments, online as well as offline under
the brand of 5paisa.com
 Presence across 19 states through a 177 strong branch network, with 75,000 online
registered users
 Provision of free and world-class research to all clients.
87

88. 5paisa Trader terminal
Trader Terminal is almost a substitute for NSE NEAT terminal and VSAT. In fact, it has
many more powerful features that only a premium trader can appreciate. Target customer
segments are
It is for dedicated day traders, who churn their portfolio on minor movements in the
market, sometimes several times a day. Their rapid and high volume trading
requires a powerful interface for lightening fast order execution.
High Net worth Individuals with large and active equities portfolio who need to
monitor and action swiftly.
Large corporate or trusts who have dedicated staff to monitor, analyze and shuffle
their portfolios
88

89. SCHEDULE OF CHARGES:
Broking Services
Lifetime Scheme
One time registration fees Rs 555
Annual membership fees NIL
Quarterly membership fees NIL
Monthly membership fees NIL
BROKERAGE (CASH)
Intra Day 0.10%
Delivery; Normal settlement 0.50%
Delivery: Trade for Trade and Z group scrip 0.10%
BROKERAGE (FUTURE) 0.10%
Brokerage (option) 1%of premium or RS 50/-per lot which ever is
higher
89

90. DEPOSITORY SETRVICES
Lifetime Scheme
Annual maintenance NIL
Credit transaction NIL
Debit Transactions 0.05%
Pledge creation (per/instruction) Rs 50
================================================================
=
90

91. One time registration fees Rs 750
Annual membership fees 500
Quarterly membership fees NIL
Monthly membership fees NIL
BROKERAGE (CASH)
Intra Day 0.03%
Delivery; Normal settlement 0.30%
Delivery: Trade for Trade and Z group scrip 0.03%
BROKERAGE (FUTURE) 0.03%
91

92. 92

93. This Report is a summary of the work done as a summer trainee in SMC Global Securities‖
I divided this project report into following phases as mentioned in the project proposal. The
report is about the comparative study of online stockbrokers.
The project report begins with the detailed introduction of the study in which basis of
comparison has been discussed. Then detailed introduction of share market has been given.
Then information regarding SMC GLOBAL SECURITIES LTD
has been given. The basic schemes and services offered by the BPL to its customers have
been included in the project report.
The project report contains the information about other online brokers (Religare securities
limited, ICICIdirect, Kotak securities, Motilal Oswal, share khan, India Info line) also like
what is their brokerage rate, information regarding their branch network etc. From these
company’s description it is clear what these brokers provide and what is their brokerage.
Then primary data has been collected has been filled up by the people. The main focus of
the questions is on the comparative analysis of the different online brokers. This
comparison has been made on the basis of the different things like services, brokerage,
product, and branch network, tie up with banks etc.
Then recommendations and conclusion have been made on the basis of primary data,
which has also been described in detail in the project report.
93

94. The first objective of the study is to compare the different online brokers on different
parameters.
 Services.
 Product.
 Price.
 Ease of use.
Assessing consumers point of view in
 Returns
 Services
 charges
Finding the strengths and weaknesses of the company.
Future prospects of the company in comparison with other competitors.
Finding the most preferred company by Delhi Investo
94

95. Design of questionnaire
The questionnaire is designed in a structured manner keeping in mind all the basic steps for
construction of a questionnaire and considering all the scales.
Samplle Pllan::
Samp e P an
Information is gathered from various sampling plan:
Offices
Shopping malls
Samplle siize::
Samp e s ze
Sample size of 100 customers is taken.
Sttep 2::
S ep 2
Data for comparison is collected from online websites of the comparison and also by
personnel visit to different branches.
95

96. Personnel visit to different branches of the concerned companies.
Magazines and newspapers.
Web-site of the companies and other online data providers.
0Questionnaire filled up by DELHI region Investors.
TolL-free-numbers….
1 SMC
1800-11-0909
2 GEOJIT
1800-425-5501
3 INDIA INFOLINE
1800226555
4 SHARE KHAN
1-800-22-7500
5 KARVY
1800 425 8282
6 SBI CAP
1800112211
7 AXIS DIRECT
1800 103 0808
96

97. Brokerage for Brokerage for
Online Broker MMC*
Delivery Intraday trading
SBICAP Securities
0.50% 0.10% NIL
brokerage charges
Sharekhan
0.03% - 0.50% 0.03% - 0.10% NIL
brokerage charges
Motilal Oswal
0.30% - 0.50% 0.03% - 0.15%
brokerage charges
5 paisa
0.25% - 0.85% 0.07%
brokerage charges
Angel Broking
0.50% 0.02% - 0.03%
brokerage charges
ICICI direct
0.75% 0.15%
brokerage charges
Indiabulls
0.25% - 0.50% 0.05% - 0.10%
brokerage charges
HDFC Securities
0.50% 0.15%
brokerage charges
UTI Securities 0.80% 0.15%
97

98. brokerage charges
Religare
0.20% - 0.30% 0.02% - 0.03%
brokerage charges
Reliance Money
0.01% 0.01% card system
brokerage charges
Geogit 0.30% 0.03%
brokerage charges
Indiainfoline
0.50% 0.10% -
brokerage charges
98

99. Market Shair as per public Prefence
a) NSE b) BSE
c) MCX d) NCDEX
NCDEX
MCX
Sales
BSE
Column1
NSE
0
20
40
60
80
99

100. .
Awareness regarding online trading 30% or
70%Sales
AWARE
UNAWARE
Survey shows that of the people those who are aware of share market 90%
peoplehave knowledge of online share trading & 10% people have no
proper knowledge ofonline share trading.
.
Security in which people invest
a. Equity 28%
b. Mutual Fund 20%
c. Fixed Deposit 13%
d. Insurance 31%
e. Others 8%
People like to invest more in insurance sector rather than share market.
10
0

101. Preferred mode of trading
A. Online 40%
B. Offline 60%
Preferred mode of trading
Online
Offine
Best brokerage house
a. Share khan 09%
b. India Bulls 20%
c. ICICI Direct 21%
d. SMC 25%
e. Angel Broking 16%
f. Others 09%
10
1

102. Satisfaction level of the customers.
a. yes 72%
Sales
YES
NO
UNCERTAIN
b. no 6%
c. uncertain 22%
72% people are satisfied with their broking house where as 22% of the people are
not
sure as they are first time investors and the remaining 6% are not satisfied.
10
2

103. Investment decisions
a. Self 19%
b. Brokers 9%
c. Economic Policies 45%
d. Friends/Relatives 27%
45% of the investment decisions of the people are influenced by the economic
policies of
the government followed by friends/relatives, self brokers.
Sales
SELF
BROKER
ECONOMIC POLICIES
FRIENDS & RELATIVE
10
3

104. Data collected is limited to the DELHI region.
Study is limited to the leading companies in stock broker market.
Information given by employees or general public might be influenced by personal bias
Lack of cooperation of the people was also a big limitation while conducting the study
Due to limitation of time a sample size of only 50 respondents were chosen.
The survey was carried through questionnaire and the questions were based on
perception.
The sample for research was chosen only from a limited area.
Some of the respondents may be biased in giving responses.
Complete data was not available due to company privacy and secrecy.
10
4

105.  _ The facility of free demonstrations should be provided for all.

 _ Improvement in the opening of De-mat & contract notice procedure is required.
 _ There should be a limited number of clients under the relationship manger, so
 that he can handle new as well as old customer properly.
 _ Some promotional activities are required for the awareness of the customer,
 seminars should be held for providing information to prospective and present
customers.
 _ People at young age should be encouraged to invest in stock market.
 There is high potential market for mutual fund in Mumbai city, but this market
needs to be explored as investors are still hesitated to invest their money in mutual
funds.
 _ Investors have inadequate knowledge about mutual funds, so proper marketing
of various schemes is required; company should arrange more and more
seminars on mutual funds.
10
5

106. Conclusion
 On the basis of the study it is found that SMC GLOBALSECURITIES L.T.D is
provide better services than the other stockbrokers because of their timely research
and personalized advice on what stocks to buy and sell.
 provides the facility of Trade tiger as well as relationship manager facility for
encouragement and protects the interest of the investors. It also provides the
information through the internet and mobile alerts that what IPO’s are coming in the
market and it also provides its research on the future prospect of the IPO.
 Study also concludes that people are not much aware of commodity market and
while it’s going to be biggest market in India.
 The company should also organize seminars and similar activities to enhance the
knowledge of prospective and existing customers, so that they feel more
comfortable while investing in the stock market.
 In online trading ―SMC‖ have mainly competition with INDIA INFOLINE,
 Indiabulls. Angel Broking has an advantage of being in this industry for more than
8 decades. It has launched its website in 2000 and was among the first player in the
online share trading.
 The ―SMC GLOBALSECURITIES L.T.D‖ has decided to spend its advertisement
budget through four media i.e. Television, Print, Web and Outlets.
 SMC GLOBALSECURITIES L.T.D is only broker in which no margin needs to
keep.
10
6

107. • http://smcindiaonline.com/Key-management.aspx
• www.valueresearchonline.com
• www.computronicsindia.com
• www.money control.com
• www.India earning.com
• www.msfinancialsavvy.com
• www.mfea.com
• www.amfiindia.com
NEWSPAPERS
THE ECONOMIC TIMES
BOOKS & MAGAZINES
BUSINESS STANDARD
MARKETING MANAGEMENT (KOTLER)
10
7

108. QUESTIONNAIRE
APPENDIX
1. Do you invest in equity?
Yes
No
100
90
80
70
60
50 yes
40 no
30
20
10
0
10
8

109. 2. If no, would you like to invest in future?
Yes
No
yes
100
90 no
80
70
60
50
40
30
20
10
0
3. If yes do you have demat account
Yes
No
100
90
80
70
60
yes
50
40 no
30
20
10
0
10
9

110. 4 - Where do you have the account------------?
25
Bonanza
india bulls
mos
20
iil
kotak
sharekhan
15
icici
10
5
0
11
0

111. 5) What are the account opening charges------------?
800
700 Bonanza
600 india bulls
500 mos
400 iil
300 kotak
200 sharekhan
100 icici
0
6. Do you have a trading account?
Yes
No
100
90
80
70
60
yes
50
40 no
30
20
10
0
11
1

112. 7)-Where do you have the account------------?
25
Bonanza
20
india bulls
15 mos
iil
10
kotak
5 sharekhan
icici
0
8 )__How much exposure do you get on your funds___________?
20
18
Bonanza
16
14 india bulls
12 mos
10 iil
8
6 kotak
4 sharekhan
2 icici
0
11
2