A PROJECT REPORT

ON
“RISK MANAGEMENT REGARDING WORKING OF A
BROKING FIRM, AND ITS INVESTORS”

AT

H.D.F.C SECURITIES LTD

CENTRAL UNIVERSITY OF HIMACHAL PRADESH
(Session 2010-2012)

Submitted To Submitted By
Mr. Shabab Ahmad Naman Rastogi
Assistant professor MBA (E.D)
CUHP II Semester
CUHP10MBAED15
 DECLARATION

I, the undersigned, hereby declare that the Project Report entitled “RISK
MANAGEMENT REGARDING WORKING OF A BROKING FIRM, AND ITS
INVESTORS” written and submitted by me to the CENTRAL UNIVERSITY,
HIMACHAL PRADESH SHAHPUR is my original work and the conclusions
drawn therein are based on the material collected by myself.

NAMAN RASTOGI
M.B.A [E.D]

2
 ACKNOWLDGEMENT

It’s a great privilege that I have done my project in such a well-organized and
diversified organization. I am great full to all those who helped and supported me
in completing the project.

I am thankful to our ASSITANT PROFESSOR SHABAB AHMED for helping

me in completing the project.

I am also thankful to my parents, all college staff and specially my friends for
helping me directly or indirectly in my project. Thank u all.

NAMAN RASTOGI

INDEX
S. No. Contents

3
 Executive Summary
INTRODUCTION
1 Basic Concepts of the Topic
Risk Management
Need for the Study
Statement of the Problem
Objectives of the Project
Research Hypothesis
Scope of the Study
2 PROFILE OF THE ORGANISATION
Name of the Organisation
Vision and Mission
History and Background
Competitors of H.D.F.C Sec. Ltd.
About H.D.F.C Sec. Ltd.

3 RESEARCH DESIGN & METHODOLOGY

Introduction to Research Methodology
Sampling Design
Sources of Data Collection
Limitations of Study
4 DATA PRESENTATION, ANALYSIS
INTERPRETATION

5 FINDINGS & SUGGESTIONS

Main Findings (Conclusions)
Policy Suggestions
Scope of Development

6 BIBLIOGRAPHY

7 ANNEXURE

EXECUTIVE SUMMARY

4
Project Title: - “Risk Management Regarding Working of a Broking Firm and
Its Investors”
Name of the Organization: - HDFC SECURITIES LTD
Introduction: - All investments are risky, whether in stock, capital market,

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

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

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

Risk can be defined as “Possibility of suffering losses”

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

is measured in terms of consequences and likelihood”.

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

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

by the regulatory bodies and exchanges.

Objectives of the Project:-

 To get familiar with the working of a broking firm.
 To understand various risks involved in the broking firm.
 To understand various risk for the investors of the broking firm.
 To manage and reduce the identified risks.
Need of the Study:-
 Create awareness among investors about the different risks involved in the
broking firms.
 Understand the total transparency and automation of broking firm
 Give basic knowledge to investors regarding risk in broking firm
 Also understand the equity market and different way of trading
Research Hypothesis: - Capital Market is growing very fast, turnover wise as
well as area of operation wise. The activities have reached through lengths and
breadth of the country. So there is increase in various broking firms. The working

5
of a broking firm is a very risky job because risk is involved in each and every
activity of the business.
Conclusions:-
 The researcher found that the working of a broking firm is a very risky job
because risk is involved in each and every activity of the business.
 The risk prevailing in the business is recognized therefore an efficient risk
management department is essential in every broking firm.
 Broking business is a client-based business. The recent trend of
voluminous increase in investors has also increased the risk involved in it.
There is need of continuous up gradation of internal control measures
 Staff in a broking firm is continuous busy and due to which they are always
under stress.
Suggestions:-
 An Organization should have a risk management function that is
independent of its trading staff i.e. personnel responsible for the risk
management function should be separate from trading floor personnel.
 A periodical compliance review should be conducted to ensure conformity
with the rules and regulations.
 The designated compliance officer should perform a review of trading
Practices annually.
Limitations of Study:-
 To understand the overall working of share market, the period of 60 days is
not enough.
 Moreover, very few investor and agents have a detail knowledge of the
study.
The study was conducted in dharamsala only, which restricted the scope of
the study.

CHAPTER I
INTRODUCTION
6
Basic Concepts of the Topic

RISK MANAGEMENT

Risk is defined as “possibility of suffering losses”

This risk in itself is not bad, risk is essential to progress, and failure is often key
part of learning, but we must learn to balance the possible negative consequences
of risk against the potential benefits of its associated opportunities. This is risk
management.

Principles of Risk management are as follows

1 Global Perspective

- Viewing development within the context of large level developments

- Recognizing both the potential value of opportunity and the potential
impact of adverse effects
1 Forward looking view

- Thinking towards tomorrow, identifying uncertainties, anticipating

potential outcomes
- Managing project resources and activities while anticipating uncertainties
2 Open Communications

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

- Enabling formal, informal, and proper communication
- Using processes that value the individual voice (bringing unique
knowledge and insight to identifying and managing risk)

4 Integrated management

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

7
 - Adapting risk management methods and tools to a projects infrastructure
and culture

5 Continuous processes

- Sustaining constant vigilance

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

6 Shared product vision

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

collective communication
- Focusing on results

7 Team work

- Working cooperatively to achieve common goal

- Pooling talents, skills, and knowledge

RISK MANAGEMENT IN A BROKING FIRM

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

maximum risk in the financial market, managing it was felt most essential by the
regulatory bodies and exchanges. Therefore NSE introduced for the first time in
India, risk containment measures that were common internationally but were
absent from the Indian Securities Market. NSCCL has put in place a
comprehensive risk management system, which is constantly upgraded to pre-
empt market failures. These measures were taken to reduce the brokers’ risks.
Whereas SEBI has given some guidelines under Investors Protection to protect
investors risks. NSE has given the following risk management measures

8
Some Risk management are also taken by BSE they are as follows

1. Know your client scheme

Under the procedure the member brokers of the exchange are compulsory
required to obtain detailed information of clients prior to commencement
of any transactions with new clients. A similar procedure is also to be
followed for existing clients. This information is to be made available to
the exchange authorities whenever called for. In case the member broker
fails to furnish the same it is viewed seriously.

2. Verification of shares at members office

The exchange has outlined the process i.e. in case the transaction in a script
with one particular client in a settlement exceeds Rs 10 lakhs then the
member are to send the photocopies of the transfer deeds and the share
certificates to the company/ registrar for verification of the material
particulars. The basic idea behind the introduction of this procedure is to
prevent fake/forged/stolen shares from being introduced in the market.
3. Inspection

The department is carrying out inspection of the member brokers records

as regards compliance of the risk management procedures

4. Insurance

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

the event of losses on account of fire, damage to computer systems and a
comprehensive policy that covers risks faced by the exchange, its member
brokers and the clearinghouse.

The risks covered under the basic cover of the policy are detailed as below.
- Loss to members on account of infidelity of employees

9
- Loss of member on account of fake/forged/ stolen shares being introduced
by his clients
- Direct financial losses suffered by the member broker on account of
physical loss, destruction, theft or damage to securities and cash.
- Loss on account of securities lost in transit
- Loss suffered on account of incomplete transaction
- Loss sustained as final receiving member on exchange on account of
default of the introducing member
- Loss on account of errors and omission
- Directors and officials liability cover

Need for the Study

 Create awareness among investors about the different risks involved in the
broking firms.
 Understand the total transparency and automation of broking firm
 Give basic knowledge to investors regarding risk in broking firm
 Also understand the equity market and different way of trading
 Convert our theoretical knowledge in to practical knowledge

Statement of the Problem

There are several financial security companies playing their roles in

Indian equity market. But People don’t have basic knowledge regarding
stock market. So they not understand there is various risk involved in the
working of broking firm. Due to none availability of the proper guidance
most of the person take stock market as gambling.

Objectives of the Project

 To get familiar with the working of a broking firm.

10
 To understand various risks involved in the broking firm.

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

 To manage and reduce the identified risks.

Research Hypothesis

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

operation wise. The activities have reached through lengths and breadth of
the country. So there is increase in various broking firms. The working of a
broking firm is a very risky job because risk is involved in each and every
activity of the business.

1.2 Scope of the Study

Company can take review from market through this project. Management
people can get overall idea about the risk management regarding working
of broking firms. They also understand what information provide to
investor for avoiding the risk.

CHAPTER II

11
 PROFILE OF THE
ORGANISATION
NAME-

H.D.F.C SECURITIES LTD.

Corporate Office:
H.D.F.C SECURITES LTD CORPORATE OFFICE LOWER PAREL WEST, MUMBAI 400013
Website : www.hdfcsecurities.com
Email : info@ hdfcsecurites.in

VISION & MISSION-

Company’s Vision –

“To build HDFC SECURITIES as a globally trusted brand in the financial

services domain and present it as the ‘Investment Gateway of India”.

Company’s Mission –

“Providing complete financial care driven by the core values of diligence and
transparency”.

History and background

12
HDFC Bank Ltd is a major Indian financial services company based in
Mumbai. The Bank is a publicly held banking company engaged in
providing a wide range of banking and financial services including
commercial banking and treasury operations. The Bank at present has an
enviable network of 1,725 branches spread in 780 cities across India. They
also have one overseas branch in Bahrain and two representative offices in
UAE and Kenya. The Bank has two subsidiary companies, namely HDFC
Securities Ltd and HDB Financial Services Ltd. The Bank has three primary
business segments, namely banking, wholesale banking and treasury. The
retail banking segment serves retail customers through a branch network
and other delivery channels. This segment raises deposits from customers
and makes loans and provides other services with the help of specialist
product groups to such customers. The wholesale banking segment provides
loans, non-fund facilities and transaction services to corporate, public sector
units, government bodies, financial institutions and medium-scale
enterprises. The treasury segment includes net interest earnings on
investments portfolio of the Bank. The Bank`s ATM network can be
accessed by all domestic and international Visa/MasterCard, Visa
Electron/Maestro, Plus/Cirrus and American Express Credit/Charge
cardholders. The Bank`s shares are listed on the Bombay Stock Exchange
Limited and The National Stock Exchange of India Ltd. The Bank`s
American Depository Shares (ADS) are listed on the New York Stock
Exchange (NYSE) and the Bank`s Global Depository Receipts (GDRs) are
listed on Luxembourg Stock Exchange. HDFC Bank Ltd Was incorporated
on August 30, 1994 by Housing Development Finance Corporation Ltd. In
the year 1994, Housing Development Finance Corporation Ltd was amongst
the first to receive an `in principle` approval from the Reserve Bank of India
to set up a bank in the private sector, as part of the RBI`s liberalization of
the Indian Banking Industry. HDFC Bank commenced operations as a
Scheduled Commercial Bank in January 1995. In the year 1996, the Bank
was appointed as the clearing bank by the NSCCL. In the year 1997, the
launched retail investment advisory services. In the year 1998, they
launched their first retail lending product, Loans against Shares. In the year
1999, the Bank launched online, real-time Net Banking. In February 2000,
Times Bank Ltd, owned by Bennett, Coleman & Co. / Times Group
amalgamated with the Bank Ltd. This was the first merger of two private
banks in India. The Bank was the first Bank to launch an International Debit
Card in association with VISA (Visa Electron). In the year 2001, they
started their Credit Card business. Also, they became the first private sector
bank to be authorized by the Central Board of Direct Taxes (CBDT) as well
as the RBI to accept direct taxes. During the year, the Bank made a strategic
tie-up with a Bangalore-based business solutions software developer, Tally
Solutions Pvt Ltd for developing and offering products and services

13
facilitating on-line accounting and banking services to SMEs. During the
year 2001-02 the bank was listed on the New York Stock Exchange. Also,
they made the alliance with LIC for providing online payment of insurance
premium to the customers. During the year 2002-03, the Bank increased the
number of branches from 171 Nos to 231 Nos and the size of the Bank`s
ATM network expanded from 479 Nos to 732 Nos. They also expanded
their presence in the `merchant acquiring` business. During the year 2003-
04, the Bank expanded the distribution network with the number of
branches increased from 231 Nos to 312 Nos and the size of the Bank`s
ATM network increased from 732 Nos to 910 Nos. In September 2003, they
entered the housing loan business through an arrangement with HDFC Ltd,
whereby they sell HDFC Home Loan product. During the year 2004-05, the
Bank expanded the distribution network with the number of branches
increased from 312 Nos to 467 Nos and the size of the Bank`s ATM
network increased from 910 Nos to 1147 Nos. During the year 2005-06, the
Bank launched the `no-frills account`, a basic savings account offering to
the customer. Also, the distribution network was expanded with the number
of branches increased from 467 Nos (in 211 cities) to 535 Nos (in 228
cities) and the number of ATMs from 1147 Nos to 1323 Nos. During the
year 2006-07, the distribution network was expanded with the number of
branches increased from 535 Nos (in 228 cities) to 684 Nos (in 316 cities)
and the number of ATMs from 1323 Nos to 1605 Nos. They commenced
direct lending to Self Help Groups. Also, they opened a dedicated branch
for lending to SHGs, in Thudiyalur village (Tamil Nadu). In September 28,
2005, the Bank increased their stake in HDFC Securities Ltd from 29.5% to
55%. Consequently, HDFC Securities Ltd became a subsidiary of the Bank.
During the year 2007-08, the Bank added 77 Nos new branches take the
total to 761 Nos branches. Also, 372 Nos new ATMs were also added taking
the size of the ATM network from 1605 Nos to 1977 Nos. HDB Financial
Services Ltd became a subsidiary company with effect from August 31,
2007. In June 2, 2007, the Bank opened 19 branches in a day in Delhi and
the National Capital Region (NCR). During the year 2008-09, the Bank
expanded their distribution network from 761 branches in 327 cities to
1,412 branches in 528 Indian cities. The Bank`s ATMs increased from
1,977 to 3,295 during the year. As per the scheme of amalgamation,
Centurion Bank of Punjab Ltd was amalgamated with the Bank with effect
from May 23, 2008. The appointed date for the merger was April 01, 2008.
In October 2008, the bank opened their first overseas commercial branch in
Bahrain. The branch offers the bank`s suite of banking services including
treasury and trade finance products for corporate clients and wealth
management products for Non-resident Indians. During the year 2009-10,
the Bank expanded their distribution network from 1,412 branches in 528
cities to 1,725 branches in 779 cities. The Bank`s ATMs increased from

14
3,295 Nos to 4,232 Nos during the year. As on June 30, 2010, the total
number of branches (including extension counters) and the ATM network
stood at 1725 branches and 4393 ATMs respectively.

15
COMPETITORS OF HDFC SECURITIES:-

There are several financial security companies playing their roles in Indian equity
market. But H.D.F.C SECURITIES faces competitions from these few companies.

 ICICI Direct.com

 Share Khan (SSKI)

 Kotak Securities.com

 India Bulls

 RELIGARE

 5paisa.com

 Motilal Oswal

 IL&FS

 Karvy

16
About HDFC Securities Limited

 One of the leading integrated financial services groups of India

 Diverse range of offerings

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

 Pan India and global footprint.

 Width and depth of management leading a formidable employee base.

 Best-in-class Research.

 “Sweetly placed” to spot new opportunities and power ahead.

17
 CHAPTER III
RESEARCH DESIGN &
METHODOLOGY
Introduction to Research Methodology-

Research Methodology comprises defining and redefining the problem,

formulating hypothesis or suggesting solution, collecting, organizing and
evaluating the data, making deduction and reaching to conclusions and determines
whether the formulated hypothesis is right and wrong.

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

problems along with logic behind them are defined through research
methodology. Thus while talking about research methodologies we are not only
talking of research methods but also consider the logic behind the methods.
During my project, I collected data through various sources primary & secondary.

Sampling Design –

I have taken sample size of 50 respondents. Because the population is too large so
it is difficult to survey.
Any organization whether big or small, private or public need different types of
information are to know its popularity. I have gathered secondary data and
primary data and collected information from the combination of these two data.

18
Sources of Data Collection-

Primary source includes:-

1) Discussion with branch manager

2) Discussion with investors of the firm.

3) Data collected from questionnaire.

SECENDORY SOURCES:-

1) Various books related to stock market

2) Books related to Financial Management

3) Web sites were used as the vital information source

4) References given by Relationship Manager

LIMITATIONS OF STUDY
 To understand the overall working of share market, the period of 30 days is
not enough.

 Moreover, very few investor and agents have a detail knowledge of the
study.
 The study was conducted in dharamsala only, which restricted the scope
of the study

19
  The data provided by the investor and the agents can’t be held true as
100% correct
 The study was conducted to understand with respect to Risk involved in
broking firm and investors, which is a part of the equity share market.

CHAPTER IV
DATA PRESENTATION,
ANALYSIS &
INTERPRETATION
1) Preference of Investment:

Financial Instruments No. Of Investors (50)

Shares 37
Mutual Funds 8
Bonds 4
Derivatives 1
Source: Primary Data (Table No. 5.1)

Preference of Investment

16%
7% 2%
Only shares
Mutual funds
Bonds
75% Derivatives

Chart 5.1

20
Interpretation: This shows that although the mutual funds market is on the rise
yet, the most favored investment continues to be in the Share Market. So, with a
more transparent system, investment in the Stock Market can definitely be
increased.

2) Awareness of online Share trading :

YES NO
45 5
Source: Primary Data (Table No. 5.2)

Awareness Of Online Share Trading

No
9%

Yes
91%

Chart 5.2

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

online share trading has increased by leaps and bounds. This awareness is
expected to increase further with the increase in Internet education.

21
3) Awareness of H.D.F.C securities as a Brand.

YES NO
29 21
Source: Primary Data (Table No. 5.3)

AWARENESS OF H.D.F.C SECURITIES AS

A BRAND

YES
NO

42%

58%

Chart 5.3

Interpretation: This pie chart shows that H.D.F.C SECURITIES has a

reasonable amount of Brand awareness in terms of a premier Retail stock broking
company. The company to increase its market share over its competitors should
further leverage this brand image.

22
4) Awareness of the facilities provided by HDFC SECURITIES :

YES NO
42 8
Source: Primary Data (Table No. 5.4)

Awareness of hdfc securities facilities

17%

Yes
No

83%

Chart 5.4

Interpretation: Although there is sufficiently low brand equity among the target
audience yet, it is to be noted that the customers are not aware of the facilities
provided by the company meaning thereby, that, the company should concentrate
more towards promotional tools and increase its focus on product awareness
rather than brand awareness.

23
5) DEMAT Account Market :

BROKING FIRMS INVESTORS

HDFC Securities 13
ICICI Direct 15
Kotak Securities 4
India Bulls 12
Others 6
Source: Primary Data (Table No. 5.5)

Demat Account Market

Religare
26% ICICI Direct
12%
Kotak Securities

31% IndiaBulls

Others
24%
7%

Chart 5.5

Interpretation: This shows that even with sufficiently high Brand Equity,
H.D.F.C SECURITIES ranks only 2ND amongst the Demat account providers.
This is probably because of two main reasons:

1. Lack of promotion and unfocussed approach towards Product awareness

1. Non – transparent marketing policies of the company

24
Hence, the company should crystallize its products and should indulge in
aggressive marketing and promotion.

6) Satisfaction level among Customers with current Broker :

YES NO
46 4
Source: Primary Data (Table No.5.6)

SATISFACTION LEVEL AMONG CSTOMERS

WITH CURRENT BROKER
YES
NO
8%

92%

Chart 5.6

Interpretation: This pie chart accentuates the fact that Strategic marketing, today,
has gone beyond only meeting Sales targets and generating profit volumes. It
shows that all the competitors are striving hard not only to woo the customers but
also to make them Brand loyal by generating customer satisfaction.

25
7) How often do you trade:

FREQUENCY OF NO. OF INVESTORS

TRADING
Daily 5
Weekly 13
Monthly 26
Yearly 6
Source: Primary Data (Table No. 5.7)

FREQUENCY OF TRADING

11% 9% DAILY

27% WEEKLY

MONTHLY

YEARLY

53%

Chart 5.7

Interpretation: In spite of the huge returns that the share market promises, we see
that there is still a dearth of active traders and investors. This is because of the non
– transparent structure of the Indian share market and the skepticism of the target
audience that is generated by the volatility of the stock market. It requires efficient
bureaucratic intervention on the part of the Government.

26
8) Percentage of earnings invested in Share Trading :

% of Earning No. of Investors

Invested
Up to 10 % 35
Up to 25 % 9
Up to 50 % 4
Above 50 % 2
Source: Primary Data (Table No. 5.8)

Percentage of earnings invested in

Share trading

Upto 10%--71%
Upto 25%--19%
Upto 50%-- 7%
Above 50%--3%

Chart 5.8

Interpretation: This shows that people invest only upto 10% of their earnings in
the stock market, again reiterating the volatile and non-transparent structure of the
Indian stock market. Hence, effective and efficient steps should be undertaken to
woo the customers to invest more in the lucrative stock market.

27
 CHAPTER V
FINDINGS & SUGGESTIONS
MAIN FINDINGS (CONCLUSION)

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

 The researcher found that the working of a broking firm is a very risky job
because risk is involved in each and every activity of the business.

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

management department is essential in every broking firm.

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

operation wise. The activities have reached through lengths and breadth of
the country. All these necessitated in the introduction of latest technology
in the form of advanced software’s.

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

voluminous increase in investors has also increased the risk involved in it.
There is need of continuous up gradation of internal control measures

 Staff in a broking firm is continuous busy and due to which they are always
under stress.

28
POLICY SUGGESTIONS

 An Organization should have a risk management function that is

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

 Senior management should regularly evaluate the risk management

procedure in place to ensure they are appropriate and sound.

 Senior management should also foster and participate in active discussions

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

 Highly qualified staff not only in front office positions such as trading
desk, relationship officer and sales but also all back office functions
responsible for risk management and internal control.

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

management report that highlights positions, limits and excess on a basis
commensurate with trading activity. This report should be sent to senior
management, reviewed, signed and returned to control staff.

 Auditors should perform a comprehensive review of risk management

annually, emphasizing segregation of duties and validation of data
integrity.

 The designated compliance officer should perform a review of trading

Practices annually.

29
SCOPE FOR DEVELOPMENT OF HDFC (SECURITIES)

HDFC SECURITIES have set themselves very stringent and high standards of
Risk Management. However I would like to make a few points, which would help
the organization in a big way.

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

resolve the disputes at different levels.

 Fast and frequent interaction between the risk managers, the sub brokers
and client will help in reducing the delay in giving limits.

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

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

 Regarding dealers risks, well-trained and less stressed dealers will help in
reducing the mistakes. It has been observed that most of the mistakes are
done when they are under stress. HRD must help in this matter.

 In settlement department the persons have be appointed with utmost care

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

 Along with large client base, quality of clientele will help in balanced
growth of business and minimizing the risk.

30
 CHAPTER VI
BIBLIOGRAPHY
 FINANCIAL SERVICES AND MARKETS
Author: - Dr. Gurusamy

 RESEARCH METHODOLOGY METOHDS & TECHNIQUES

Author: - C.R.Kothari

 PROJECT REPORT WRITING

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

www. hdfcsecurities.com

www.bseindia.com

www.google.co.in

31
 ANNEXURE
QUESTIONNAIRE

Q1. In which of these Financial Instruments do you invest into?

Shares Mutual Funds Bonds Derivatives

Q2. Are you aware of online Share trading?

Yes No

Q3. Heard about H.D.F.C securities?

Yes No

Q4. Do you know about the facilities provided by H.D. F.C securities?
Yes No

Q5. With which company do you have your DEMAT account?

HDFC SECURITIES Kotak Mahindra India Bulls
Others (please specify) __________

Q6. Are you currently satisfied with your Share trading company?
Yes No

Q7. How often do you trade?

Daily Weekly Monthly Yearly

Q8. What percentage of your earnings do you invest in share trading?

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

Q9. Is broking firms are always risk free?

Yes No

32
Q10.What more facilities do you think you require with your DEMAT
account?
---------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------

Additional Information (optional)

Name:
Age:
Phone No:
Occupation:

33