INDUSTRY OVERVIEW

INTRODUCTION
Stock exchanges to some extent play an important role as indicators, reflecting the
performance of the country’s economic state of health. Stock market is a place where
securities are bought and sold. It is exposed to a high degree of volatility; prices fluctuate
within minutes and are determined by the demand and supply of stocks at a given time. Stock
brokers are the ones who buy and sell securities on behalf of individuals and institutions for
some commission.

The Securities and Exchange Board of India (SEBI) is the authorized body, which
regulates the operations of stock exchanges, banks and other financial institutions. The past
performances in the capital markets especially the securities scam by ‘Hasrshad Mehta’ has
led to tightening of the operations by SEBI. In addition the international trading and
investment exposure has made it imperative to better operational efficiency. With the view to
improve, discipline and bring greater transparency in this sector, constant efforts are being
made and to a certain extent improvements have been made.

A stock exchange is an organized market place for securities (like stocks, bonds,
options) featured by the centralization of supply and demand for the transaction of orders by
member brokers, for institutional and individual investors. The exchange makes buying and
selling easy. For example, a client don't have to actually go to a stock exchange, say, BSE -
client can contact a broker, who does business with the BSE, and he or she will buy or sell
stock on client’s behalf. All stock exchanges perform similar functions with respect to the
listing, trading, and clearing of securities, differing only in their administrative machinery for
handling these functions. Most stock exchanges are auction markets, in which prices are
determined by competitive bidding. Trading may occur on a continuous auction basis, may
involve brokers buying from and selling to dealers.

The need for stock exchanges developed out of early trading activities in agricultural
and other commodities. During the middle ages, traders found it easier to use credit that
required supporting documentation of drafts, notes and bills of exchange. The history of the
earliest stock exchange, the French stock exchange, may be traced back to 12th century when
transactions occurred in commercial bills of exchange.
HISTORY

HISTORY OF THE STOCK BROKING INDUSTRY

Indian Stock Markets are one of the oldest in Asia. Its history dates back to nearly 200
years ago. The earliest records of security dealings in India are meagre and obscure.

By 1830's business on corporate stocks and shares in Bank and Cotton presses took
place in Bombay. Though the trading list was broader in 1839, there were only half a dozen
brokers recognized by banks and merchants during 1840 and 1850. The 1850's witnessed a
rapid development of commercial enterprise and brokerage business attracted many men into
the field and by 1860 the number of brokers increased into 60.

In 1860-61 the American Civil War broke out and cotton supply from United States of
America was stopped; thus, the 'Share Mania' in India begun. The number of brokers
increased to about 200 to 250. However, at the end of the American Civil War, in 1865, a
disastrous slump began (for example, Bank of Bombay Share which had touched Rs.2850
could only be sold at Rs.87). At the end of the American Civil War, the brokers who thrived
out of Civil War in 1874, found a place in a street (now appropriately called as Dalal Street)
where they would conveniently assemble and transact business.

In 1887, they formally established in Bombay, the "Native Share and Stock Brokers'
Association" (which is alternatively known as "The Stock Exchange"). In 1895, the Stock
Exchange acquired a premise in the same street and it was inaugurated in 1899. Thus, the
Stock Exchange at Bombay was consolidated.

Thus in the same way, gradually with the passage of time number of exchanges were
increased.
DEVELOPMENT

An important early event in the development of the stock market in India was the
formation of the Native Share and Stock Brokers’ Association at Bombay in 1875, the
precursor of the present-day Bombay Stock Exchange. This was followed by the formation of
associations /exchanges in Ahmedabad (1894), Calcutta (1908), and Madras (1937). In
addition, a large number of ephemeral exchanges emerged mainly in buoyant periods to
recede into oblivion during depressing times subsequently.

In order to check such aberrations and promote a more orderly development of the
stock market, the central government introduced a legislation called the Securities Contracts
(Regulation) Act, 1956. Under this legislation, it is mandatory on the part of stock exchanges
to seek government recognition. As of January 2002 there were 23 stock exchanges
recognized by the central Government. They are located at Ahmedabad, Bangalore, Baroda,
Bhubaneshwar, Calcutta, Chennai, (the Madras stock exchanges), Cochin, Coimbatore, Delhi,
Guwahati, Hyderbad, Indore, Jaipur, Kanpur, Ludhiana, Mangalore, Mumbai (the National
Stock Exchange or NSE), Mumbai (The Stock Exchange), popularly called the Bombay
Stock Exchange, Mumbai (OTC Exchange of India), Mumbai (The Inter-connected Stock
Exchange of India), Patna, Pune, and Rajkot. Of course, the principle bourses are the
National Stock Exchange and The Bombay Stock Exchange , accounting for the bulk of the
business done on the Indian stock market.

While the recognized stock exchanges have been accorded a privileged position, they
are subject to governmental supervision and control. The rules of a recognized stock
exchanges relating to the managerial powers of the governing body, admission, suspension,
expulsion, and re-admission of its members, appointment of authorized representatives and
clerks, so on and so forth have to be approved by the government. These rules can be
amended, varied or rescinded only with the prior approval of the government.

BSE (BOMBAY STOCK EXCHANGE)

The Stock Exchange, Mumbai, popularly known as "BSE" was established in 1875 as
"The Native Share and Stock Brokers Association". It is the oldest one in Asia, even older
than the Tokyo Stock Exchange, which was established in 1878. It is a voluntary non-profit
making Association of Persons (AOP) and is currently engaged in the process of converting
itself into corporate entity. It has evolved over the years into its present status as the premier
Stock Exchange in the country. It is the first Stock Exchange in the Country to have obtained
permanent recognition in 1956 from the Govt. of India under the Securities Contracts
(Regulation) Act, 1956.

The Exchange, while providing an efficient and transparent market for trading in
securities, debt and derivatives upholds the interests of the investors and ensures redressal of
their grievances whether against the companies or its own member brokers. It also strives to
educate and enlighten the investors by conducting investor education program and making
available to them necessary informative inputs.

A Governing Board having 20 directors is the apex body, which decides the policies
and regulates the affairs of the Exchange. The Governing Board consists of 9 elected
directors, who are from the broking community (one third of them retire ever year by
rotation), three SEBI nominees, six public representatives and an Executive Director & Chief
Executive Officer and a Chief Operating Officer.

NSE (NATIONAL STOCK EXCHANGE)

NSE was incorporated in 1992 and was given recognition as a stock exchange in April
1993. It started operations in June 1994, with trading on the Wholesale Debt Market
Segment. Subsequently it launched the Capital Market Segment in November 1994 as a
trading platform for equities and the Futures and Options Segment in June 2000 for various
derivative instruments.

NSE has been able to take the stock market to the doorsteps of the investors. The
technology has been harnessed to deliver the services to the investors across the country at
the cheapest possible cost. It provides a nation-wide, screen-based, automated trading system,
with a high degree of transparency and equal access to investors irrespective of geographical
location. The high level of information dissemination through on-line system has helped in
integrating retail investors on a nation-wide basis. The standards set by the exchange in terms
of market practices, products , technology and service standards have become industry
benchmarks and are being replicated by other market participants. Within a very short span of
time, NSE has been able to achieve all the objectives for which it was set up. It has been
playing a leading role as a change agent in transforming the Indian Capital Markets to its
present form. The Indian Capital Markets are a far cry from what they used to be a decade
ago in terms of market practices, infrastructure, technology, risk management, clearing and
settlement and investor service.

NCDEX (NATIONAL COMMODITIES AND DERIVATIVES

EXCHANGE)

NCDEX started working on 15th December, 2003. This exchange provides facilities to
their trading and clearing member at different 130 centres for contract. In commodity market
the main participants are speculators, hedgers and arbitrageurs.

Promoters of NCDEX are

 National Stock Exchange (NSE)

 ICICI bank
 Life Insurance Corporation (LIC)
 National Bank for Agricultural and Rural Development (NABARD)
 IFFICO
 Punjab National Bank (PNB)
 CRISIL

WHY NCDEX?

 NCDEX is nationalized screen based system which is providing transparent, private

and easy services.
 NCDEX is one of the traditional media which gives online information
 NCDEX is one of the Indian commodity exchange, constructed on the basis of the
current national institutes the exchange has been established with the coloration of
leading institutes like NABARD, LIC, NSI etc….
 In India NCDEX has maximum settlement guarantee fund.
 NCDEX has appointed two exports for checking quality at the time of delivery

FACILITIES PROVIDED BY NCDEX

 NCDEX has developed facility for checking of commodity and also provides a wear
house facility
  By collaborating with industrial partners, industrial companies, news agencies, banks
and developers of kiosk network NCDEX is able to provide current rates and
contracts rate.
 To prepare guidelines related to special products of securitisation NCDEX works with
bank.
 To avail farmers from risk of fluctuation in prices NCDEX provides special services
for agricultural.
 NCDEX is working with tax officer to make clear different types of sales and service
taxes.
 NCDEX is providing attractive products like “weather derivatives”

MCX (MULTI COMMODITY EXCHANGE)

‘MULTI COMMODITY EXCHANGE’ of India limited is a new order exchange with a

mandate for setting up a nationwide, online multi-commodity marketplace, offering unlimited
growth opportunities to commodities market participants. As a true neutral market, MCX has
taken several initiatives for users in a new generation commodities futures market in the
process, become the country’s premier exchange. MCX, an independent and a de-mutualised
exchange since inception, is all set up to introduce a state of the art, online digital exchange
for commodities futures trading in the country and has accordingly initiated several steps to
translate this vision into reality.

NATIONAL MULTI-COMMODITY EXCHANGE OF INDIA LIMITED

(NMCEIL)

National Multi Commodity Exchange of India Limited (NMCEIL) is the first de-
mutualised, Electronic Multi-Commodity Exchange in India. On 25th July, 2001, it was
granted approval by the Government to organize trading in the edible oil complex.

It has started from November 26, 2002. It is being supported by Central Warehousing
Corporation Ltd., Gujarat State Agricultural Marketing Board and Neptune Overseas
Limited. It got its recognition in October 2000.

Commodity exchange in India plays an important role where the prices of any
commodity are not fixed, in an organized way. Earlier only the buyer of produce and its seller
in the market judged upon the prices. Others never had a say.
 Today, commodity exchanges are purely speculative in nature. Before discovering the
price, they reach to the producers, end-users, and even the retail investors, at a grassroots
level. It brings a price transparency and risk management in the vital market.

A big difference between a typical auction, where a single auctioneer announces the
bids, and the Exchange is that people are not only competing to buy but also to sell.

By Exchange rules and by law, no one can bid under a higher bid, and no one can offer
to sell higher than someone else’s lower offer. That keeps the market as efficient as possible,
and keeps the traders on their toes to make sure no one gets the purchase or sale before they
do.
TRANSACTION CYCLE

Decision to trade Placing Order

Funds or Securities Trade Execution

Transaction
cycle

Settlement of trades Clearing of Trades

 A person holding assets (Securities/Funds), either to meet his liquidity needs or to
reshuffle his holdings in response to changes in his perception about risk and return of the
assets, decides to buy or sell the securities. He selects a broker and instructs him to place
buy/sell order on an exchange. The order is converted to a trade as soon as it finds a matching
sell/buy order. At the end of the trade cycle, the trades are netted to determine the obligations
of the trading member’s securities/funds as per settlement cycle. Buyer/seller delivers funds/
securities and receives securities/funds and acquires ownership of the securities.

A securities transaction cycle is presented above. Just because of this Transaction cycle,
the whole business of Securities and Stock Broking has emerged. And as an extension of
stock broking, the business of Online Stock broking/ Online Trading/ E-Broking has
emerged.

TRADITIONAL BROKING

Traditionally In stock Market, the investors invest their money in shares under the
guidance of the Brokers of any stock broking company. This is convenient to those investors
who are not familiar with the computer and the use of internet. But it requires more dealers to
the share broking companies to give guidance related to investment. There was a chance of
inaccuracy of price because it is a time consuming process. The cost of the company also
increases due to more paperwork. The investor point of view, there was a problem of privacy.
The information of investor may leak by the broker. So, to remove these limitations of
traditional broking, there was an emergence of new concept e-Broking.

E-BROKING

Today is world of technology. So, the person who adopt it, get the success. So, E-
Broking means broking through electronic means. E-Broking is the broking in which the
investors who are familiar with the use of computer and Internet they directly trade in stock
market. They trade any time at any place when the stock market is open. The cost of
transaction is also reducing with time. The investors have a large range of option for the
trading. It is a paperless transaction so it reduces the cost of company. There was a facility of
live streaming quotes, which give exact price of share which prevailing in the market at that
time. There are two types of online trading service: DISCOUNT BROKER and FULL

SERVICE ONLINE BROKER.

Discount online brokers allow you to trade via Internet at reduced rates. Some provide
quality research, other don’t. Full service online brokerage is linked to existing brokerage.
These brokers allow their client to place online orders with the option of talking/chatting to
brokers if advice is needed. Brokerage rates here are higher. Online trading is still in its
infancy stage in India with trading turnover at around Rs.10crores per day from online
trading compared to a combined gross turnover of around Rs.9000-10000crores handled by
the BSE and NSE together, online trading has a long way to go.

INTERNET TRADING IN INDIA:

In the past, investors had no option but to contact their broker to get real time access to
market data. The Net brings data to the investor on line and net broking enables him to trade
on a click. Now information has become easily accessible to both retail as well as big
investors.

The development of broking in India can be categorized in 3 phases:

 Stock brokers offering on their sites features such as live portfolio manager, live
quotes, market research and news to attract more investors.
 Brokers offering on line broking and relationship management by providing and
offering analysis and information to investors during broking and no broking hours
based on their profile and needs, that is, customized services.
 Brokers (now e-brokers) will offer value management or services such as initial
public offerings on line, asset allocation, portfolio management, financial planning,
tax planning, insurance services and enable the investors to take better and well-
considered decisions.

In India, presently Internet trading can take place through the order routing system,
which will route client orders to exchanges trading systems for execution of trades on stock
 exchanges (NSE and BSE). This will also require interface with banks to facilitate instant
cash debit or credit and the depository system for debit or credit of securitie

INDUSTRY ANALYSIS

INDUSTRY ANALYSIS USING PORTER’S 5 FORCES MODEL

POTENTIAL ENTRENTS

Hedge equities

Acumen

Muthoot securities

SUPPLIERS COMPETETORS BUYERS

Web maintainers Geojith BNP Paribas, JRG Small investors,

Securities, Acumen, Carvy, Franchise/Business
NSCL, CSDL India Info line, Angel Partners, HNI’s,
Broking, Sharekhan, ICICI MF companies,
NSE, BSE
Direct, Kotak Securities Institutional investors
MCX, NCDEX, NMCEIL

SUBTITUTES

Mutual funds

Insurance

Bank FD
SUPPLIERS

 NSDL & CSDL are the regulatory bodies for Depository Participants. Also these
regulatory bodies have got an upper hand as the bargaining power stock broking
houses would be less.
 NSE & BSE are playgrounds where common an investor trade through stock broking
houses, for which they have to take permission from NSE/BSE.
 NSE & BSE are under the purview of SEBI, that’s why stock broking houses have
low bargaining power. But here there is one advantage that NSE/BSE have i.e. they
cannot go for forward integration.
 MCX & NCDEX are stock exchanges which trade in commodities and derivatives.
Here again stock broking houses have to follow rules and regulation of the same.
 Web maintainers are companies which maintain web sites & technical aspects of the
same. Here stock broking houses can have more bargaining power due to stiff
competition among web maintaining companies.
 Web maintainers are companies who make and maintain software’s for stock broking
houses. If say for example stock broking houses switches over to other web
maintainers then that company cannot understand the mechanisms of software’s. So it
is quite high switching cost.

BUYERS

 There are various types of investors who trade through stock broking houses, which
include investors like small investors, medium net worth investors, business partners,
institutional investors and mutual fund companies.
 Here the bargaining power of stock broking houses depends on how big the investor
is.
 So here we can say that bargaining power of stock broking houses is high in case of
small investors & HUF.
 While the bargaining power is moderate in case of HNI (High New Worth Investors)/
MNI’s (Medium Net Worth Investors) and business partners.
 But the in case of mutual fund companies and institutional investors, bargaining
power is less.
  There is competitive buzz in stock broking industry; competitors are offering low
brokerage and best services with added feature. So switching cost is pretty much less.
So the buyer can easily switch over to competitors product.

COMPETITORS

 The company is facing the competition from local as well as national level players.
The local and the national players provide online trading services.
 There are also other big names like India bulls, Motilal Oswal, 5paisa and Angel
Broking.

SUBSTITUES

 Here substitutes are such instruments which can be used instead of investing in shares.
 The instruments like Bank FD, insurance, mutual funds are the substitutes.
 If the use of this instruments increase this may be disadvantage for the stock broking
houses.
 The companies and banks which are having these instruments can plunge into this
industry.

POTENTIAL ENTRANTS

ENTRY BARRIERS

 Huge capital:- Capital is necessary not only for fixed facilities but also for
customer’s credit and absorbing start up losses. To start a stock broking house, one
needs huge capital for technology up gradation and skilled manpower.
 Technology: - Technology for stock broking houses is life saving device. Stock
broking requires huge capital to make their products user friendly, which in turn
requires capital to employ skilled manpower. Thus, technology could be one of the
entry barriers.
 Regulatory Constraints: - Obtaining a license is a tedious job for a stock broking
house. It should comply with the regulation of the governing bodies like SEBI,
NSDL, etc. For a stock broking houses to plunge into the stock broking industry, it
needs to have some kind of financial background and expertise. Thus, regulators
constraints could be an entry barrier.
 Experience curve: - The core competency in this industry is the services which are
provided to the end-users and the research based activities which includes “TIPS”,
fundamental as well as technical script analysis. Also the most important thing which
helps already established firms is-“TRUST” which people would be having on
existing firms, which would be very difficult for new companies to imitate.
 Network: - The “Reach” to the customer is the key factor in the industry. The
networks of already established companies are spreaded all over India. It will take
time for a new entrant to establish such a huge network (e.g. Marwadi), which say
that,” Network can come up as most difficult entry barrier to overcome.”
 Expected Retaliation: -Whenever a new player comes into the industry, the old
companies have an option to reduce the prices of their product. This kind of practice
is called expected Retaliation which is also possible in this industry in terms of less
brokerage rates and reduced account opening charges.
 COMPANY PROFILE

COMPANY PROFILE
 Maxwealth is a subsidiary of Geojit BNP Paribas a leading retail financial services
company in India with a growing presence in the Middle East . The company rides on its rich
experience in the capital market to offer its clients a wide portfolio of savings and investment
solutions. The gamut of value-added products and services offered ranges from equities and
derivatives to Mutual Funds, Life & General Insurance and third party Fixed Deposits. The needs of
over 495,000 clients are met via multichannel services - a countrywide network of over 500 offices,
phone service, dedicated Customer Care centre and the Internet.

ABOUT MAXWEALTH

Maxwealth is a premier brokerage house in India on the fast growth track. Last years
it emerged as the powerhouse in the financial services industry. It started functioning in the
stock market in 2005. Over the years, it grew from strength to strength to become a major
player in India's broking services sector.

Today Geojit is one of the foremost brokerage houses, being a member of various
exchanges in the capital and commodity markets. Geojit is a member of the National Stock
Exchange of India (NSE), the Bombay Stock Exchange, the National Multi Commodity
Exchange of India Ltd (NMCEIL), the National Commodities Derivatives Exchange Ltd
(NCDEX), and Multi Commodity Exchange of India Ltd (MCX). MAXWEALTH is a full-
fledged depository participant of the National Securities Depository Ltd.

MAXWEALTH constantly infuses quality into service. They provide their clients full
expertise to play in the market with confidence. They avail full-fledged trading facilities and
services through their nation-wide offices in securities and in commodities.
To help clients better, they have located offices in major towns and placed highly qualified
and experienced financial experts to man them. A team of dynamic finance professionals with
decades of experience leads them. These professionals share a common vision not only to
transform the company into a highly professional organization, but also make their clients
earn the maximum from their hard-earned money.

What has made this remarkable growth possible at Maxwealth?

Trust Commitment Integrity. Their transparency, commitment and integrity in all dealings
have earned trust, which in turn has enabled them to build long term relationships.

Geojit is a member of
  National Stock Exchange of India (NSE)

 Bombay Stock Exchange (BSE)

 Currency futures in both NSE and MCX

 Interest rate futures in both NSE and MCX

 National Securities Depository Ltd.

 National Multi Commodity Exchange of India Ltd (NMCE)

 National Commodities & Derivatives Exchange Ltd (NCDEX)

 1st in India to launch an integrated internet trading system for Cash &
Derivatives segments.

VISION

“Adding Value; Infinite Care”

MAXWEALTH Securities Limited was born out of a vision to explore the immense
investment opportunities in the Indian financial market, to benefit the investors. The company
is built on the pillars of financial expertise, professionalism, exemplary ethics and a
commitment to provide ultimate customer satisfaction

  MAXWEALTH constantly strives to meet the changing market needs and trends.

They take pride to tell the world that they had a modest beginning. They began as a sub-
brokerage house in the year 1992. Their financial expertise and professionalism coupled with
ethics and a commitment has made MAXWEALTH one of the major players in Indian
financial market.

They cater efficiently to the diverse and complex needs of over 200,000 customers, most of
whom are individual traders, institutions and money managers.
The vision of the MAXWEALTH Group is to be a Financial Super Market. It aims to provide
all types of financial services to its clients at one place to save them from going from place to
place to meet their investment needs.
With the opening up of the Indian economy and the advent of IT enabled trading, the Indian
capital market has become a whole new ball game. From floor trading, the custom is fast
shifting to Internet trading. Equally fast is the role of the financial service provider, which is
being redefined. Earlier, a financial service provider's responsibility was limited to executing
customer's instructions to buy and sell. Now, the whole operational paradigm has
progressively shifted with the opening of more and more avenues to offer strategic customer
supports.

The guiding principles that lead us:

 Serve the clients with the highest level of responsiveness and integrity.

 Place the client's interests and protection of their investments as the top priorities.

 Operate on predefined and constantly updated service standards. Be customer driven,

rather than deal driven.

 Adopt futuristic technology to gather vital information on real time basis to optimise
investor protection and investor returns.

Group of Companies

MAXWEALTH Group, a leading financial and investment service company in India. From a
modest beginning a decade back, MAXWEALTH is today a power to reckon with in the
financial services industry through the following MAXWEALTH Group of Companies:

Maxwealth Securities Ltd.

Maxwealth Securities Limited is a big player in financial market that has put the brokerage   
business on a fast growth track over years.

Maxwealth Commodities and Finpro (P) Ltd.

MAXWEALTH Commodities & Finpro (P) Ltd is a fast moving company in the commodity
broking business in India. Over the years, MAXWEALTH has set a new trend in the financial
industry. But the bigger story is with hundreds of thousands of our clients, who have grown
with us.
MAXWEALTH SECURITIES LTD is a franchisee of GEOJIT BNP PARBAS.

GEOJIT BNP PARBAS

 Corporate Finance

 Investment Banking

 Debt Capital Market

 Trade Finance

 Micro Finance

 Merchant Banking

Trade Finance

Trade finance provided by Transwarranty Finance Ltd is comprises of:

 Working Capital Bank Limits

 Bills discounting

 Supplier’s / Buyer’s Credit

 Inter Corporate Deposits / S. T. Loans

Corporate Finance

 Structured Finance

 INR & ECB Loans

 Project Loans & Equity

 Real estate & Infrastructure

Investment Banking
  M&A

 PE & VC

 Strategic Partner / J.V.

 Restructuring

Debt Capital Market

 Primary bond issues, Secondary placements

 SLR & Non SLR Proprietary trading

 Interest Rate futures trading

Microfinance

 Geojit BNP Paribas providing micro finances such as gold loans, which can be scaled
up with funding.

 Merchant Banking

 Institutional Broking

 BSE & NSE

Maxwealth Securities Limited – Shares & Derivatives broking

 2 Retail Offices

 Interest Rate & Currency futures

 BSE/ NSE/ NSDL

CORPORATE INFORMATION

BOARD OF DIRECTORS
The Maxwealth Board is constituted by independent professionals. Its Board of Directors
comprises veterans from the fields of banking, stock broking and other financial services.
Their experience and expertise have helped the company become a premier broking house in
the country.

REGISTERED OFFICE

Tottathil Towers, 2nd Floor,

Market Road, Ernakulam, Kochi- 682 018

Key Statistics

PARTICULARS NUMBERS

Own Branches 30

Franchisees 112

No. of Remiser 149

No of Sub brokers 18

No of Trading Terminals 450

No of active Clients 12,700

 No of employees 175

Network State wise

 Andhra Pradesh

 Delhi

 Gujarat

 Karnataka

 Kerala

 Maharashtra

 Orissa

 Tamil Nadu

 Uttar Pradesh

 West Bengal

PRODUCTS OF MAXWEALTH

 Online Trading

 Personal loans

 Commodities

 Quality assurance

 DP Services
  IPO Advisory

 Mutual Fund

Online- Trading

Specially designed for the net savvy traders and investors who prefer operating from their
home or office through the internet. The investor can trade through internet on BSE, NSE, F
& O, MCX and NCDEX.

MAXWEALTH ODIN CLIENT

 Application based product for Traders.

 Application based ideal for traders.

 Multiple exchanges on single screen

 Online fund transfer facility

 User friendly & simple navigation

 BSE, NSE, F&O, MCX & NCDEX

MAXWEALTH ANYWHERE

 Application based product for Traders with Charts.

 Application-based platform for day traders

 Intra-day/historical charts with various indicators

 Online fund transfer facility

 BSE, NSE, Cash & Derivatives

MAXWEALTH TRADE
  Browser based product for Active Investors.

 Browser based for investor

 No installation required

 Advantage of mobility

 Trading as simple as internet surfing

 BSC, NSC, F&O, MCX & NCDEX

MAXWEALTH INVESTOR

 User-friendly browser for investors

 Easy online trading platform

 Works in proxy and firewall system set up

 Integrated Back office: Access account information – anytime, anywhere

 Streaming quotes

 Refresh static rates when required

 Multiple exchanges on single screen

 Online fund transfer facility

Investment Advisory Services

To derive optimum returns from equity as an asset class requires professional guidance and
advice. Professional assistance will always be beneficial in wealth creation. Investment
decisions without expert advice would be like treating ailment without the help of a doctor.

 Expert Advice: Their expert investment advisors are based at various branches
across India to provide assistance in designing and monitoring portfolios.
  Timely Entry & Exit: Their advisors will regularly monitor customers’ investments
and guide customers to book timely profits. They will also guide them in adopting
switching techniques from one stock to another during various market conditions.

Commodities

A commodity is a basic good representing a monetary value. Commodities are most often
used as inputs in the production of other goods or services. With the advent of new online
exchange, commodities can now be traded in futures markets. When they are traded on an
exchange, Commodities must also meet specified minimum standards known as basic grade.

Types of Commodities

 Precious Metals: Gold and Silver

 Base Metals: Copper, Zinc, Steel and Aluminum

 Energy: Crude Oil, Brent Crude and Natural Gas

 Pulses: Chana, Urad and Tur

 Spices: Black Pepper, Jeera, Turmeric, Red Chili

 Others: Guar Complex, Soy Complex, Wheat and Sugar

Benefits at Maxwealth

 Prompt payment of Marketing Fee i.e. Dot on 1st of every month

 Direct credit of M.F. in your bank account

 Very low and economical account opening charges

 Flexible brokerage system to accommodate various kinds of clients

 Adequate Exposure all times.

 NEFT & RTGS (Fund transfer) facility for pay in and pay out
  User friendly Back office software to view all accounts online

 Constant calls & support during market hours for –

 Long term Investment

 Short term Investment

 Swing Trading

 Futures Trading

 Nifty & Mini Nifty Trading

 Options Trading

Depositary Participant Services

Maxwealth Securities Ltd. is a DP services provider though NSDL. They offer depository
services to create a seamless transaction platform to execute trades through Maxwealth group
of companies and settle these transactions through Maxwealth Depository services.

 Wide branch coverage

 Personalized/attentive services of trained a dedicated staff

 Centralized billing & accounting

 Acceptance & execution of instruction on fax

 Daily statement of transaction & holdings statement on e-mail

 No charges for extra transaction statement & holdings statement

DEPARTMENT STUDY

REPORTS

 Market Outlook at 8:15 a.m.

  Technical Report at 6:00 p.m.

 Derivative Analysis Report at 8:15 a.m.

FUNDAMENTAL RESEARCH SERVICES

 The Sunday Weekly Report:

This weekly report is the ace of all reports. It offers a comprehensive market overview and
likely trends in the week ahead. It also presents few top picks based on an in-depth analysis
of technical and fundamental factors. It gives short term and long term outlook on these
scrip’s, their price targets and trading strategies. Another unique feature of this report is that
it provides an updated view of about prominent stocks on an ongoing basis.

 Stock Analysis:

Maxwealth’s stock research has performed very well over the past few years. The
fundamentals of select scrip are thoroughly analyzed and an actionable advice is provided
along with investment rationale for scrip

 Flash News:

Key developments and significant news announcements that are likely to have an impact on
markets / scrip are flashed live on trading terminals. Flash news keeps the market participants
updated on an online basis and helps them to reshuffle on their holdings.

TECHNICAL RESEARCH SERVICE

 Nifty Tracker:

Nifty Futures is the most traded instrument with highest volumes in F & O and excellent
liquidity. The team tracks the Nifty Future and generates calls based on unique trading
system which is a result of their focused research over the past few years. The objective is to
generate positive returns for traders who are looking for a high risk / high reward product.

 Online Chart:
An online forum to help clients; specifically for day traders in judging the directions of the
market and stocks which are in the limelight.

 Intraday Calls:

For day traders, Maxwealth provides intra-day calls with entry, exit and stop loss levels
during market hours. These calls are flashed on their terminals. Their analysts continuously
track the calls and provide recommendations according to the market movements.

 Position Calls:

Maxwealth’s “Position Trading Calls” are based on thorough analysis of the price movement
in select scrip’s. These calls are for a 10-15 day time span with stop loss and target levels.
These calls are flashed on their terminals during market hours.

 Derivative Strategies:

Their analysts take view on the Nifty and select stocks based on the derivatives data and
technical tools. Suitable “Derivative Strategies” are devised, which are flashed on their
terminals and published in their reports.

 Futures Calls :

A customized product for HNIs to help them trade with leveraged position; wherein clients
are advised on the stocks with entry, exit and stop loss level for short term benefits. Over and
above this, financial status of the calls is monitored at all times.

INVESTMENT ADVISORY DESK

At Maxwealth, they have a dedicated Investment Advisory Desk:-

 To help manage client’s equity portfolio and create wealth

 To help client understand their risk profile and define investment goals realistically

 To minimize client’s risk and maximize their returns

 To help client decide what to buy / sell and when to buy / sell
  To help client’s understand macro-economic trends and company developments

 To help client restructure their portfolio based on sound research

COMMODITIES SERVICES

 Agro Tech Speak:

Mainly gives the investors insight into and a forecast for agro commodities viz. pulses (Urad,
Chana etc); reports on oil complex (soybeans castor etc.) along with spices with reports on
guar seed.

 Call Evaluation:

A report designed for evaluating the calls given by the Maxwealth research team where the
reports are classified in 3 broad categories viz. achieved, triumph, not achieved along with
the trade recommendations.

 Commodities Tech Speak:

This report mainly equips the investors dealing in MCX segment in commodities like gold,
silver, crude oil, copper etc with the market insight and expert recommendation on the trading
strategies

Maxwealth Commodity Advantages:

 Top Quality Research :

 Professionally qualified analysts with rich industry experience

 Research on 25 agro commodities, precious metals, base metals, energy

products and polymers

 E-Broking:

 Single screen customized market watch for MCX / NCDEX with BSE /
NSE
  Streaming quotes and intraday calls

 DP Facilities in Commodities Trading on CDSL

 24x7 Online Back-office

 Efficient Risk Management

 Competitive Brokerage Rates

MUTUAL FUND DISTRIBUTION AND ADVISORY

To enable clients to diversify their investment in the right direction, Maxwealth has added
another product in its range with mutual funds:

 Customized investment solutions based on specific individual’s financial goals

aligned with client’s risk appetite.

 Access to in-depth research and proper selection from diversified funds based on
client’s preferred criteria.

 Customized reports at desired frequency.

 Rating and Rankings of all Mutual Funds from in-house expert analysts.

 Current and historical performance of different funds enabling comparisons.

 News and alerts for client’s Mutual Fund Portfolio and performance tracking with
watch lists.

 Online Mutual Funds applications (NFO or existing) / Online order status tracking /
online updating of unit holdings at latest NAV / Online dividend payout and
reinvestment facility.

 Single point customer query handling.

ONLINE IPO

Online IPO (Initial Public Offering) is a new service by Maxwealth for providing the
application form of any company’s issues of shares just like the TCS issue can be subscribed
by filling an online form to reduce the paper work and the fund transfer facility is also
provided to the clients for transferring the funds online. It is given on its web-site for helping
the clients who are not able to collect the forms manually and the speed of filling and
reducing the risk of misplacing of forms, not reaching in time, etc.

DEPOSITORY PARTICIPANT SERVICE

Maxwealth Securities Ltd. is a DP Service provider through NSDL. They offer Depository
Services to create a seamless transaction platform to execute trades through Maxwealth
Group of Companies and settle these transactions through Maxwealth Depository Services.

Dematerialization and trading in the demat mode is the safer and faster alternative to the
physical existence of securities. Demat as a parallel solution offers freedom from delays,
thefts, forgeries, settlement risks and paper work. This system works through depository
participants (DPs) who offer demat services and hold the securities in the electronic form, for
the investor Maxwealth Depository services offers dematerialization services to individual
and corporate investors. They have a team of professionals and the latest technological
expertise dedicated exclusively to demat department, apart from a national network of
franchisee, making services quick, convenient and efficient. At Maxwealth, their
commitment is to provide a complete demat solution which is simple, safe and secure.

The services offered by Depository Participant

 Convert your physical holding into electronic holding (which is called

"dematerialization" of securities)

 Keep custody of your holdings in electronic form.

 Transfer the shares in the electronic form from one account to another.

 Facilitate pledge of your electronic securities.

 Give electronic credit of new share allotments such as public issues, bonus, rights etc.
  Convert your electronic holding into physical holding (which is called
"dematerialization of securities")

BROKERAGE

Depository Account (DP Account)

Annual maintenance charge- Rs.350

Account opening charge - Rs.350

Limit setting

Maxwealth will give 10 times exposure limits for doing intraday trading for clients of
deposited amount.

Brokerage structure for intraday trading

Amount greater than 100- 0.02% to 0.05%

Amount less than 100 - 5 paisa to 10 paisa

Delivery Brokerage

Maxwealth charging around 0.3% to 0.6% as brokerage for delivery.

PROCEDURE OF CLIENT ACQUISITION

 Based on leads. Three types of leads are provided are:-

 People who registers themselves on Maxwealth website willing to be client of

Maxwealth and want to know about its product.

 People who have Demat account already with any another broker. (competitors Data)

 People who are totally unknown to this market.

PROCEDURE FOR OPENING A DP ACCOUNT WITH MAXWEALTH

 You can open a Depository Participant (DP) account, either through Maxwealth
branch or through a Maxwealth Franchisee center.

 There is a fee Rs.350 for opening DP accounts with Angel Maxwealth.

 All investors have to submit their proof of identity and proof of address along with the
prescribed account opening form.

IN DP ACCOUNT OPENING FORM

 Minor details like name of the branch, name of the client & address and other details
of the client required to be mentioned in the form and Agreement.

 Signatures are required on all pages of the agreement.

 All the details (Name & address of the client) must be filled.

 Please note that if the signature on the form & the proof provided differs, the form
will be liable for rejection. In such cases the client has to get his signatures verified by
the banker.

 Nominee details must be supported by 2 witnesses (Name, Address & signature).

 Minor accounts, HUF accounts, corporate accounts, and Accounts having 3 holders
cannot have nominees in a DP account.

 Please note that joint accounts cannot be opened in case Minor accounts and HUF
accounts.
  In case of any corrections on the application form & agreement holders have to
counter sign at place of the correction.

ACCOUNT OPENING REQUIREMENTS UNDER VARIOUS HEADS

I. Proof of Identity (Any one of the following) :-

 Photocopy of Valid Passport (Page containing the date of expiry also to be attached)

 Photocopy of Voter’s Identity card.

 Photocopy of Valid Driving License (Page containing the date of expiry also to be
attached).

 Photocopy of Pan Card

 Identity card/document with applicant’s Photo, issued by

a. Central/State Government and its Departments,

b. Statutory/Regulatory Authorities,

c. Public Sector Undertakings,

d. Scheduled Commercial Banks,

e. Public Financial Institutions,

f. Professional Bodies such as ICAI, ICWAI, ICSI, Bar Council etc., to their
Members; and

g. Credit cards/Debit cards issued by Banks.

II. Proof of Address (Any one of the following) - (Provided the entire address
written on the form matches with the proof):-

 Photocopy of Ration card.

  Photocopy of Valid Passport (Page containing the date of expiry also to be attached).
(Copy of expiry date also to be submitted)

 Photocopy of Voters Identity card.

 Photocopy of Valid Driving License (Page containing the date of expiry also to be
attached). (Copy of expiry date also to be submitted)

 Photocopy of Telephone or Electricity bill. (Government entity only & should not be
more than 3 months old)

 Photocopy of Leave-License / Purchase Agreement.

 Photocopy of Bank Passbook or latest Bank statement.

 Self-declaration by High Court & Supreme Court judges, giving the new address in
respect of their own accounts.

 Identity card/document with address, issued by

 Central/State Government and its Departments,

 Statutory/Regulatory Authorities,

 Public Sector Undertakings,

 Scheduled Commercial Banks,

 Public Financial Institutions and

 Professional Bodies such as ICAI, ICWAI, Bar Council etc., to their

Members.

III. Photocopy of cheque leaf of bank account number mentioned on the form to
verify the Bank MICR No.

IV. Latest photograph signed by the client.

FOR N.R.I. (NON RESIDENT INDIAN) CLIENT

  Latest photograph signed by the client.

 Photocopy of Valid Passport (Page containing the date of expiry also to be attached)

 Proof of Local Address

 Proof of Foreign Address

 Photocopy of cheque leaf of bank account number (NRE or NRO) mentioned on the
form to verify the Bank MICR No.

SWOT ANALYSIS

A SWOT analysis focuses on the internal and external environments, examining strengths
and weaknesses in the internal environment and opportunities and threats in the external
environment.

 Strengths:

 Well-maintained infrastructure.

 Dedicated, Intelligent and Loyal staff.

 On-line trading products.

 Lowest brokerage and other charges w.r.t. Competitors.

 The best investment advice correct up to 70-90 % through dedicated research and
reports.

 Wide product range to enable the clients to choose the best alternative.

 A positive image in the existing clients.

 Weakness

 Branding

 Lack of professional advice, mainly in rural branches

 Lack of highly qualified professionals

 Opportunities:

 Large potential market for delivery and intra-day transactions.

 Open interest of the people to enter in stock market for investing.

 Attract the customers who are dissatisfied with other broker & DPs.

 An indirect opportunity generated by the market from its bullishness.

 Large untapped market in Kerala.

 Improving technology

 Increasing education of people

 Threats:

 Decreasing rates of brokerage in the market.

 Increasing competition against other brokers & DPs

 Loosing the untapped market with the entry of the competitors.

 Entry of new players in Kerala market, like Acumen, Hedge etc

RESEARCH METHODOLOGY
OBJECTIVES OF THE STUDY

The objective of my Project is to gain knowledge about how an organization works and in
particular setup of a stock broking house.

PRIMARY OBJECTIVES OF THE PROJECT ARE

 To learn the client behavior of a stock broking company.

 To learn about company routine working

SECONDARY OBJECTIVE

 To study the marketing techniques used by Maxwealth Securities to acquire a client.

RESEARCH METHODOLOGY

Research Methodology – “Systemized Method to gain knowledge”. The technique deployed

to analyze and interpret the data for the purpose of hitting the target objective plays a crucial
role. The effective research technique has a significant contribution for effective objective
achievement. Throughout this project, a combination of secondary and primary research was
undertaken to MAXWEALTH SECURITIES LTD.

DATA SOURCES

 Primary Data

 Secondary Data
PRIMARY DATA

Primary data is a data that is collected for the first time in the processing of the analysis. The
researcher has adopted the contact through telephone for the purpose of collecting Primary
data. The researcher discuss with Marketing Manager and employees of the company to get
information about marketing techniques.

SECONDARY DATA

Under Secondary sources, I tapped information from internal & external sources. I made use
of Internet (such as search engine www.google.com , www.maxwealth.com, and
miscellaneous sources (such as brochures, pamphlets, library) under external sources.

ANALYSIS

To make my research project most effective in a given time period of two months surveyed
the information of the customers. I undertook both Explorative as well as Conclusive
Research Design. The data has been collected from both Primaries as well as Secondary
sources and I also did the fieldwork for which utmost care has been taken to keep project
unbiased from personal opinion.

SIGNIFICANCE OF THE STUDY

Every research is conducted to fulfill certain objective and these objectives in turn fulfill
some purpose. MBA curricular is designed to give more practical exposes to the student so
that he can make use of theoretical knowledge in the real life situation, with this thrust
dissertation study has been included which provides opportunity to research to gain practical
insight of the market and customers. This hand on experience helps me in identifying the
critical factor of consumer buying behavior. This rich experience will be great help in
researcher’s future endeavors and it also solves the purpose for the partial fulfillment of MBA
curriculum.
I sincerely believe that road to improvement is never- ending and one always learns from a
new experience. This project is a step towards gaining knowledge about real world and
putting the theory of practice. I shall look forward to and gratefully acknowledge all
suggestion on this small step I have taken.

The report consists of a step–wise efforts towards meeting the objectives of the study. It
covers the step-wise collection of data collection and the representation of the data together
with the analysis. It also includes some findings and suggestions put forward hoping it would
help the company achieve its vision.

MANAGERIAL USEFULNESS OF THE STUDY

The marketing department can use this study to enhance their marketing strategies for better
sales. This report helps marketing department in taking decision to what factors affect a client
in selecting a broker for trading so that marketing problem could be sorted out and can
understand how to sell their range of product in the competitive market.

The very essence of every project related to marketing is providing a view to management for
chalk out the organization. So that they can maintain a viable fit between the organization
objective, skill and resources and its changing market opportunities. Also give proper shape
to the company business target profit and growth. It provides a feedback to the organization
about their service, service schemes and what impact dose it has on the consumer.

Every market research proves useful suggestion to the organization. Marketing research helps
the firm in every component of the total marketing task. It helps the firm acquire a better
understating of the customer, the competition and marketing environment. It also aids the
formulation of the marketing mix, product, distribution and pricing needs marketing research
support. It also helps in taking the information of competitor’s strategies and their impact on
the customer. The study revels may facts that have come up during the project and these facts
can either be used as opportunities in exploring and expending the business.

LIMITATIONS OF THE PROJECT

  No proper assurance of right information:- The main data sources are websites,
telephonic information and offices visit.

 The data on websites might be possible, not get updated.

 The customer might be possible, is not through with all concepts to which I contacted.

 Sometimes, they try to hide information.

 Lack of awareness of Stock market:- Since the area is not known before it takes lot of
time in convincing people to start investing in shares primarily in IPO’s.

 Mostly people comfortable with traditional brokers: - As people are doing trading
from their respective brokers, they are quite comfortable to trade via phone.

 Lack of Techno Savvy people and poor Internet penetration: - Since most of the
people are quite experienced and also they are not techno savvy. Also Internet
penetration is poor in India.

 Some respondents are unwilling to talk:- Some respondents either do not have time or
willing does not respond, as they are quite annoyed with the phone call.

 Inaccurate Leads: - Sometimes leads are provided which had error in it which varies
from only 5 digit phone number to wrong phone number

 Misleading concepts: - Some people think that Shares are too risky and just another
name of gamble but they don’t know it’s not at all that risky for long investors.

SCOPE OF THE STUDY

These are some of the following scope of the study:-

 The present study can be extended to assess the present marketing condition of stock
market.

 The study can be used to design a proper service, price, place & promotional strategy
for stock market.
 From the present study we can know the customer behavior and can formulate
strategy according to that.

ANALYSIS
 &

INTERPRETATION

ANALYSIS & INTERPRETATION

DEMOGRAPHIC FINDINGS

AGE GROUP

Age group(years) No. of respondents

20-35 15
36-50 39
51-65 30
Above 65 16
 45

40

35

30

25

20

15

10

0
20-35 36-50 51-65 More than 65

Out of total 100 respondents, 39% of the respondents falls in the age group of 36-50 years
where as 30% were in the age group of 51-65 years, 16% falls in the group of more than 65
years and 15% falls in the age group of 20-35 years.

JOB PROFILE

Category No. of respondents

Govt. servant 20
Business 35
Professional 40
Others 5
 Govt. servant
Business
Professional
Others

Out of total 100 respondents, 40% are professionals, 35% doing business, 20% belongs to
government services and rest belongs to others.

ANNUAL INCOME (IN LAKHS)

Income group No. of Respondents

Less than 1 lakh 25
1-5 lakhs 47
More than 5 lakhs 28

Less than 1 lakh

1-5 lakhs
More than 5 lakhs
Most of the respondents belong to the income group of 1-5 lakhs followed by the respondents
belong to income group of more than 5 lakhs which is 28% of total respondents and rest of
Respondents belonging to the income group below 1 lakh

EDUCATIONAL BACKGROUND

Qualification No. of respondents

Under graduate (U.G) 26
Graduate 40
Post graduate(PG) 28
Others 6

Others

Post graduate(PG)

Graduate

Under graduate (U.G)

0 5 10 15 20 25 30 35 40 45

Most of the respondents were graduates 28% were post graduate, 26% were under graduates
and rest 6% belong to other category.

CLUB MEMBERSHIP

Options No: of respondents

Yes 55
No 45
 Yes
No

When the respondent were asked their preference of investment, is cash market,
derivatives market or both, the following respondents were obtained.

Options No. of respondents

Only cash/capital market 45

Only derivative market 5

Both 50

Only cash/capital market

Only derivative market
Both
Out of 100 respondents 45% respondents invest their fund in cash market, 5% of respondents
invest only derivative market and rest in both market.

When the respondents were asked about proportion of income they invest in shares and
securities, the following responses were obtained.

Investment proportion No. of respondents

Up to 5% 30

5 to 10% 55

10 to 25% 10

More than 25% 5

60

50

40

30

20

10

0
Up to 5% 5 to 10% 10 to 25% More than
25%
When the respondents were asked about the proportions of income they invest in shares and
securities, it was found that most of the (55%) respondents invest 5-10% of their income,
30% of respondents invest up to 5%, 10% of them invest 10-25% and rest more than 25%.

When the respondents were asked about the time period for which they are investing,
the following responses were obtained.

Time period No. of respondents

Less than 1 year 5

1-5 year 30

More than 5 year 65

Yes
No

Out of total 100 respondents 5% respondents were new investors, 30% were investing for 1-5
year and 65% were for more than 5 year.
When the respondents were asked about trading advice, the following responses were
obtained.

Options No: of respondents

On your own idea 55
Expert’s opinion 15
Friend’s/Family members 3
advice
Broker’s advice 20

Other sources 7

60

50

40

30

20

10

0
Regarding the decision of amount and investment area, 55 out of 100 takes the idea on their
own and 15 on expert’s opinion, 20 on broker’s advice, 3 on friends’ advice.

When the respondents were asked trading frequency, the following responses were
obtained.

Options No: respondents

Daily 45

weekly 25

Monthly 15

According to market 15

50
45
40
35
30
25
20
15
10
5
0
Daily weekly Monthly According to
market

On analysing the trading practices it was found that majority, 45% trade daily, 25% trade
weekly followed by monthly traders and those who are trading according to the market 15%
each.
When the respondents asked whether any professional advice is available to them when
required, the following responses were obtained.

Options No: of respondents

Yes 30
No 50
Some times 20

Yes
No
Some times

Out of 100, 50 respondents said that they don’t get professional advice, 20 said that they get
it sometimes, and 30 of them get advice when needed.

When the Respondents were asked about the factors they consider while selecting a
broker, the following responses were obtained.

Options Rank I Rank II Rank III Rank IV Rank V

Brokerage 20 20 20 0 40

Frequent 0 0 20 60 20
payment
Less 0 0 40 20 40
 advance
margin
Credit limits 30 50 10 10 0

Personal 50 30 10 10 0
relations
70

60

50

40 Rank I
Rank II
30 Rank III
Rank IV
20 Rank V

10

0
Brokerage Frequent Less advance Credit limits Personal
payment margin relations

Out of 100 respondents, 50% select broker based on personal relations followed by credit
limits and brokerage 30% and 20% respectively.

When the Respondents were asked whether they are aware of different charges by their
broker, the following responses were obtained.

Options No: of respondents

Yes 85

No 15
 Yes
No

Out 100 respondents 85% are aware of different charges charged by the broker, and 15% are
unaware about different charges.

When respondents were asked about satisfaction level pertaining to different charges
charged by the broker, the following responses were obtained.

Options No: of respondents

Satisfied 40

Neutral 60

Dissatisfied 0
 No: of respondents

Dissatisfied

No: of respondents
Neutral

Satisfied

0 10 20 30 40 50 60

Out of total 100 respondents, 40% were satisfied and 60% are neutral about the broker

When respondents were asked to rate the services provided the broker, following
responses were obtained.

Service Good Fair Poor

Conformation of 95 5 0
traders
Phone service 80 20 0
Brokerage 10 90 0
Professional 10 70 20
advice
Relaxation in 30 50 20
advance margin
Payment 70 30 0
Staff behaviour 90 10 0
 100
90
80
70
60
50
40
30
20
Good
10
0 Fair
Poor

From this chart it is clear that most of the investors are satisfied with conformation of traders,
phone service, and staff behaviour

When respondents were asked about problems faced by them, following responses were
obtained.

Options No: of respondents

Depending on the initial amount of investment 3
To complete paper work 2
Delay in payment 15
Brokers do not deal all the investors in same respect 5
Lack of knowledge about rules and regulations of SEBI 75
 Depending on the initial
amount of investment
To complete paper work
Delay in payment
Brokers do not deal all the
investors in same respect
Lack of knowledge about
rules and regulations of
SEBI

Out of the total 100 respondents, 75% are unaware about rules and regulation of SEBI, 15%
facing the problem of delay in payment and 5% says brokers do not deal all the investors in
same respect.
FINDINGS AND SUGGESTIONS
FINDINGS