PROJECT ON

E-BROKING
RELATED
TO
INDIAN
BULLMARKET
 1.1---INTRODUCTION OF E- BROKING

Internet trading in India made its debut in April 2000. Through this mean of trading,
investors can buy and sell share on-line through internet.To start internet trading, an investor has
to register himself with a broker offering online services. He has to open a bank account as well
as a Demate account with the broker. The broker is responsible for the risk management of his
clients. The orders get logged directly on the trading platform within the assign limits designed
by broker to the clients. Even if the clients order exceeds the assigned limits, the order gets
rerouted to the broker’s server for authorization or rejection. The broker can change the
parameters on-line. His software allows real time market information display, client information
display, bank account management and a transaction history display.

In April 2000, the market was bullish and a large number of players ventured into on-
line trading. As many as 79 members took permission for internet trading.

Around 2.15 1akh investors have registered to trade on-line. There has been a sharp
increase in Volumes after the rolling settlement was introduced. The average daily on-line
trading volumes rose from Rs 10 crore in June 2001 on the National Stock Exchange to Rs 60
crore in December 2001. This increase of 600 per cent was in the midst of bearish market
conditions.

Online trading has driven down the transaction costs substantially and increased the
liquidity options available to an investor to enter or exit from the stock at his own wish. The
Internet has provided a wide range of information to the investor which has enabled him to take
calculated risks.

The US has the largest number of cyber investors-approximately 15 million. On-line

trading has grown tremendously in the US where roughly 40 per cent of retail stock brokerage
business is conducted through the Internet.
  History of Online Trading

Online stock trading is very old concept for big institutions that trade through private
networks owned by Reuter's "Instinet" and a system called "Posit" since 1969. But it becomes
Internet based for laymen only in late 90s.

There are serious players like E*TRADE, DATEK online etc. All this companies ask
you to start account with US $5000 and you can buy and sell stock using these funds. They also
issue you a checkbook, which you can use to make payments from this account. Or use their
ATM card to withdraw cash from your stock trading account.

Today practically every big name brokerage firm offers online stock trading as it reduces
their costs. Earlier they had army of brokers on phone with clients executing trade, which is done
by computers accepting orders from clients directly. This firm now offers human access to high
net worth accounts, and to rest at charge per trade.
  E- Broking - A small beginning:

E-Broking means electronic broking; this broking is executed through internet. You have
required some margin money to E-Trading on BSE/NSE. Brokers have taken their trading rooms
to the Internet, Known as online brokers, they allow you to buy and sell shares via Internet.

There are 2 types of online trading service

 Full-Service Broker
The full-service category includes all the names that spring to mind when we think of
brokers: Angel Broking Limited, Sharekhan, Kotak Street, ICICI Direct, HDFC and many
others. They provide a variety of services, such as personal advice, retirement planning and tax
tips. Full-service brokers offer a wider selection of investment products such as derivatives and
insurance, as well as access to the company's research. All this comes with a hefty price tag.
Full-service brokerages are expensive, furthermore, full-service brokers are compensated based
on how much you trade, not the performance of your portfolio. This can lead to your full-service
broker advising you to trade when you don't need to. When this becomes excessive, it is called
churning.

 Discount Brokers 
Discount brokerages charge a reduced commission and do not provide investment advice
Fees are kept low because discount brokers offer fewer products. Brokers are paid on salary and
not on commission. The business model is built on having an effective system and quality
service in order to put through the most volume.
  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 online 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:

1. Stock brokers offering on their sites features such as live portfolio manager, live quotes,
market research and news to attract more investors.

2. Brokers offering online broking and relationship management by providing and offering
analysis and information to investors during broking and non-broking hours based on their
profile and needs, that is, customized services.

3. Brokers (now e-brokers) will offer value management or services such as initial public
offerings on line, asset allocation, portfolio management, financial planning, and tax planning,
insurance services and enable the investors to take better and well-considered decisions.

In the US, 82 per cent of the deals are done online. The European online broking market
is expected to be of $8 billions and is likely to raise five fold by 2002. 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 securities.
  Objectives of Internet trading:
 Increase transparency in the markets.
 Enhance market quality through improved liquidity.
 Reduce settlement risks due to open trades, by elimination of mismatches.
 Introduce flexibility in system, to handle growing volumes easily and to support
nationwide expansion of market activity.
 Besides, through Internet trading three fundamental objectives of securities regulation
can be easily achieved, these are: Investor protection, creation of a fair and efficient
market and, reduction of the systematic risks.

 About BSE & NSE

 BSE ONLINE TRADING SYSTEM ‘BOLT’:

Bombay Stock Exchange is the oldest stock exchange in Asia with a rich heritage of over
133 years of existence. What is now popularly known as BSE was established as "The Native
Share & Stock Brokers' Association" in 1875.Bombay Stock Exchange (BSE) switched over
from the open outcry trading system to a fully automated computerized mode of trading known
as BSE Online Trading (BOLT) System in 1995. This system, which is both order and quote
driven, was commissioned on 14 March 1995 and in May 1995 it was introduced for all the
securities listed on BSE. It started with screen based trading and in September 1997, switched
over to direct online access facility. In the initial stages, BOLT was available to brokers of the
stock exchange based in Mumbai. But Expansion of BOLT nationwide required:

1. Permission of SEBI
2. A nationwide network which is secured and operational at all times.

BSE secured SEBI’s permission in 1997, and as a result, BSE brokers were free to install
their trading terminals in cities where there were no stock exchanges or BSE was required to sign
a memorandum of understanding at centers where there were other exchanges located to be able
to install BOLT terminal. BSE added a nationwide network to its existing network to more than
200 cities.

Source: - http://www.bseindia.com/about/introbse.asp

 NSE: ONLINE TRADING SYSTEM:

NSE was incorporated on 27 November 1992 to facilitate interaction with smaller

exchanges in the country to make them viable and active. It is completely automated in terms of
both trading and settlement procedures. NSE’s trading system is knows as NEAT (National
Exchange for Automated Trading). It is fully automated screen-based trading system, which
enables brokers and trading members around India to trade simultaneously. NEAT has replaced
the ‘ring’ and brokers no longer concentrate on the floor of the exchange to trade. An investor is
thus able to buy or sell securities through the brokers connected to NEAT network.

The trading software selected by NSE is in use by several exchanges around the world.
The telecommunications network is the backbone of its trading system designed to provide
continuous availability to the brokers. It is one of the largest interactive VSAT-based stock
exchanges in the world. Broker to broker trade is through online terminals. The terminals of the
brokers on the wholesale debt market are linked to the central computer. The brokers on the
capital market trade through a satellite network that is owned operated and managed by NSE
using VSAT (Very small aperture terminals) technology.

Source: - http://www.nseindia.com/
 Procedure for Internet trading:

 Step-1: Those investors interested in doing the trading over internet system they should
approach the brokers and register with the Stock Broker.

 Step-2: After registration, the broker will provide to them a login name, password and a
personal identification number (PIN).

 Step-3: Actual placement of an order. An order can then be placed

by using the place order window as under:

o First by entering the symbol and series of stock and other parameters such as
quantity and price of the scrip on the place order window.
o Second, fill in the symbol, series and the default quantity.

 Step-4: It is the process of review. Thus, the investor has to review the order placed by
clicking the review option. He may also re-set to clear the values.

 Step-5: After the review has been satisfactory; the order has to be sent by clicking on
the send option.

 Step-6: The investor will receive an ``Order Confirmation'' message along with the
order number and the value of the order.
 Step-7: In case the order is rejected by the Broker or the Stock Exchange for certain
reasons such as invalid price limit, an appropriate message will appear at the bottom of the
screen. At present, a time lag of about ten seconds is there in executing the trade.

 Step-8: It is regarding charging payment, for which there are different modes. Some
brokers will take some advance payment from the investors and will fix their trading limits.
When the trade is executed, the broker will ask the investor for transfer of funds by the
investor to his account.

Above figure shows how the Internet trading procedure

 Factors to keep in mind while selecting online brokers:
Brokerage cost: It is important to weigh up the subscription and trading costs charged by an
online broker against benefits offered by the site. All online brokers display their charges on their
sites. Some make sure you find the charges easily, while with others you will have to search a
bit.

Safety: Please make sure site has 128-bit encryption to ensure safety of transaction online.
5paisa.com, ICICIDirect.com is few sites with 128-bit encryption. You normally get a secured
Login id and password. It is always advisable to frequently change trading password. Ideally
online trading site should be fully integrated. The greater the backward integration, the better it is
for the customer. Ideally broking account, demat account and bank account should be linked
electronically.

Rate refresh: Rate refresh has to be real-time with no time lag. The speed and reliability
comes with huge investment in technology. It is always advisable to check rates of online
broking sites with BSE/ NSE terminal rates.

Speed of execution: System has to be fast and reliable that does just one job- executes your
trades. The last thing you need is a site that is heavily congested with the users who are
downloading heavy jpeg graphs or pulling the latest story why market is moving. The site should
be one click wonder where squaring off all your positions or canceling all your pending orders
takes one click and a confirmation of action.

Trading limit: For trading, all sites provide 4 times buy and sell limit against margin money
put in by customer. For delivery of shares, buying limit is equal to margin money put in by
customer. Couple of sites also provides margin funding for buying of shares.
 Challenges in Internet Trading:

For Internet trading to succeed it is imperative to have both, a robust business model as
well as a comprehensive technology strategy. Some of the challenges are discussed: Transaction
fulfillment--In the Net-based economy, it is both prudent and essential for a broker/intermediary
to offer total solution to the clients at a single point. Total solutions would essentially mean
offering interfaces with banks, depositories, information feeds, etc. for efficiency in trade
completion and reducing duplication of client information. The service providers will have to go
beyond the stage of mere order execution and emerge as "informed Aries" rather than
"intermediaries". This will not only ensure lower trading costs in terms of offering cross services
but will also help in maximizing RoIs.

A true Internet trading system should deliver cost effective transaction fulfillment at a
single point.

Future of Internet Trading:

International marketplaces are already witnessing re-alignments and changes with the
emergence of electronic communication networks (ECNs) such as INSTINET and ISLAND,
which are already contributing substantial business volumes to mainline exchanges such as
NASDAQ and the NYSE. Concurrently, exchanges worldwide are looking at striking strategic
alliances such as the Global Equity Market (GEM). With Net trading in securities and rapid
consolidation between multiple stock exchanges, the international securities marketplace is fast
becoming a "global village" through the creation of a universal virtual equity market. Therefore
the challenge for the technology providers is to develop and deploy advanced e-trading tools and
applications using electronic straight through processing technologies.
 Advantages of E- Broking:

 Single screen order/trade entry, without going through the hassles of giving transfer
instruction, writing cheques.
 Live quotes of NSE–Cash/Derivative, BSE Cash, Commodity. Create multiple market
watches, default market watch – NIFTY, SENSEX, and Industrial. You can add NSE-Cash,
Derivative & BSE script on the same market watch.
 Get access to various online reports like margin report, Demat A/c details, trades executed,
turnover report, and net position report with mark to market profit/loss and realized profit.
 Online trading helps in the quick execution of the entire trading transaction right from
logging to traders site and to the settlement of the bank account in a very short period of
time.

Through Online trading every trade is confirmed immediately and

investors receives an on-screen confirmation following every trade with
full details for the investors records which avoids costly errors that could
have been discovered when it is too late. The first major advantage of
trading online is the ability to have total control over ones investments.
Before the advent of online trading, investors had to go through a
stockbroker in order to buy and sell their stocks. This process is tedious,
can take up value able time and is costly. In addition to that, brokers can
sometimes persuade investors to buy and sell certain stocks because of
personal reasons.

When investors trades online they have total control of their

money. In addition to that, investors have the luxury of speed. They can
buy and sell stocks quickly, which can help them save money. An example
of this is if investors want to buy certain stocks at low price, by the time
they call their broker and eventually buy the stock the price could have
increased during that time period. This same example applies to when
investors want to sell a stock at a certain time. While the investors are
 calling their broker and the stock is being sold, the price could have
dropped. This could sometimes cost investors thousands of dollars. With
online trading, people can buy and sell at the exact time they choose to do
so because it is just a mouse click away.

Online trading is also beneficial because it reduces the cost of

transaction. Instead of paying broker , which can be very costly ,
investors can trade online and pay a small fee to their company this saves
the customers from having to pay commission to the stockbroker.
Furthermore, since” the explosion of online brokerages has driven the cost
of transactions way down, trading online is cheaper than ever. This is
because all the companied are competing for business continue reducing
their costs to attract customers.

The last major advantage of trading stocks online is that more

information is available then ever before. Investors can get the most up to
date stock quotes and can reach any company they plan on buying stock
for. This information was previously only available to stockbrokers. With
the new technology the internet offers, it is available to everyone. With
this information the investors can become more educated and make good
decision on the stocks they want to buy and sell. One such website that
allows users to gather information is Quote.com. Quote.com has graphic
charts that updates the investors’ portfolio throughout the day and also lets
investors create “watch lists” or mock portfolios that monitor alternative
investment options”. This means that customers can plan out different
investing stratifies and see how those compare to the ones they are already
invested in. These advantages have contributed greatly to the increase of
trading online.

 Disadvantages of E- Broking:
 "Server not found": This may appear on your screens when you are desperately trying to
get out of an unprofitable position. Some of the online sites are providing a telephone
number for use in case their sites are overloaded or their server down.
 Cyber attack: In the event of a malicious attack on the systems of your broker you are
protected only if the company is taking proper precautions against such attacks and if
proper backup is regularly been taken. You may like to choose a brokerage that has a
stated security policy and contingency plan in place.
 Brokerage is high compared to offline trading.
 Privacy is less due to hacking scandals.
 Transaction error due to technological problem.

One major disadvantage with online trading is that there are many security risks.
The internet is a wonderful but dangerous place to do business. Hackers have the
ability to access personal information on anyone who has ever searched the
internet, which includes credit card information. This was the main reason a
company like Charles Schwab was reluctant to start trading online. Although the
percentage is small, there is still a small chance that hackers can access ones
account (price 2) companies are taking the most serious precautions on this
matter.

Another drawback to trading online is that, while companies offer trades

that are quick and on the spot, in actuality it can take up to several hours to
complete or even not to be completed at all. According to the Securities and
Exchange Commission, “E-traders registered more than 3,300 complaints in the
12 months ended in September 1999, a 197 percent increase over 1998 and nearly
2,000 percent higher than in 1997”. This means that here was an increase in
problems that the web sites were having. This could have serious effects on
investors because they could think they bought a stock or sold a stock at a certain
time but in actuality the transaction registered late or not at all costing that
investor money.
 The internet is unpredictable and stable. One can never know when a web
site will fail. In situations where there is a problem like this, investors can usually
call their brokerage firm and the problem is fixed right away. However, the
problem with online trading companies is that they are too large and are not
“easily reached by e-mail or phone”. This is the main concern for online
brokerage firms and they are trying their best to alleviate these problems.

Finally the most important problem with online trading is that it is so

quick and easy to make transaction, that money can be lost just as quick and just
as easily. Some people that invest online do not know how the stock market
words and think they can just invest in anything and it will make them money.
According into foresters search, “two types of traders have already moved online
‘the aggressive affluent’ and those who want to ‘get rich quick.”. These two
groups make up 70 percent of the people that want investors trading online today.
These people can make rash decisions and lose a lot of their money. People like
this generally think that investing in the stock market is like gambling in Las
Vegas. This is a dangerous attitude and could make people lose money they
cannot afford to lose.

 E-broking - Hardware Requirements

  Servers / Desktops 

 SAN / Clusters

 E-broking - Software Requirements

Front Office

 Multiple Exchange Trading

 Real Time Risk Management & Post Trading
 e-Broking System

Back Office 

 Back Office Solutions for Broker and Sub-brokers

 Back office / front office co-ordination, billing and accounting software for DPs and
CDSL

 FACTORS EFFECTING ON E-BROKING

1. SUPPLIERS

NSDL & CSDL are the regulatory bodies for Depository Participants like SSKI, SHCIL,
ICICIdirect.com, etc. Also these regulatory bodies have got an upper hand as the bargaining
power stock broking houses like Angel etc. 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 like Angel,
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 like Angel 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.

2. BUYERS

There are various types of investors who trade through stock broking houses like Angel,
which includes 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 its moderate in HNI/MNI’s and business partners, While its less in case of mutual
fund companies and institutional investors.

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.

3. 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.

Expected Retaliation: - Whenever a new player comes in 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. E.g. before the entry of so many mew companies, Sharekhan was
having two types of accounts viz. speed trade speed trade plus, which were costing 1000 & 1500
account opening charges respectively. But due to competition, they have come up with only one
account i.e. speed trade plus with the account charges of Rs.1000.

4. COMPETITORS

The company is facing the competition from local as well as national level players. The
local players provide facility for off-line trading while the national players like ICICIdirect.com,
Share Khan and Kotakstreet.com, HDFC Security provides online trading services.

There are also other big names like Indiabulls, Motilal Oswal, 5paisa and Marwadi
encircles the company form both the sides by providing online and off-line trading with
competitive services.

5. POTENTIAL ENTRANT

New entrant that may take away the share of current players.

Nationalized banks are also thinking to enter in this field by teeing up with broking
houses. E.g. Bank Of Baroda.

6. SUBSTITUTES

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 that are having these instruments can plunge into this industry.
Banks are planning to jump while others may come.
  SERVICES OF THE INDUSTRY:
E-broking Services

On-line trading facilities on BSE / NSE (Cash and F&O), NCDEX and MCX through our
3 unique e-trading software are especially designed for traders as well as investors.

Trading in securities / commodities using the Internet platform is a convenient option.

Different industries provide you an opportunity to trade on BSE / NSE (Cash and F&O),
NCDEX and MCX from the comfort of your home or office.

Internet trading platform gives you state-of-the-art trading facility, order and trade
confirmation, e-contracts and 24X7 on-line web enabled back-office system at the click of a
button.

Research

Top Quality Research

Value added services of top quality retail focused research and advice
based broking in equities.
Daily Services

Market Outlook at 8:30 AM

A crisp pre-market report that arms our clients with sensitive information before the
opening bell. Key corporate developments, policy announcements, geo-political news and views
are analyzed for their impact on the market.

Technical Report at 6:00 PM

This report analyses trading patterns, historical background, market position of key
stocks and offer short term (1 to 5 days) as well as medium term (10 to 20 days) views. Tracking
individual scrips as well as the Sensex and Nifty, its insight cuts through the market maze.

Fundamental Services

The Sunday Weekly Report

This weekly report is ace of all the reports. It offers a comprehensive market overview
and likely trends in the week ahead. It also presents top picks based on an in-depth analysis of
technical and fundamental factors. It gives short term and long term outlook on these scrips, their
price targets and advice trading strategies. Another unique feature of this report is that it provides
an updated view of about 70 prominent stocks on an ongoing basis.

The Industrial Watch

This report provides an in-depth look at specific industries, which are likely to
outperform others in the economy. It analyses their strength and weaknesses and ascertains their
future outlook. The final view is arrived at after thorough interaction with industry experts.

Stock Analysis

Stock research has performed very well over the past few years and angel model
portfolio has consistently outperformed the benchmark indices. The fundamentals of select scrips
are thoroughly analyzed and actionable advice is provided along with investment rationale for
each scrip.

Flash News

Key developments and significant news announcement that are likely to have an impact
on market / scrips are flashed live on trading terminals. Flash news keeps the market men
updated on an online basis and helps them to reshuffle their holdings.
Commodities Services

Agro Tech Speak

Mainly gives the investor’s insight into and a forecast for agro commodities viz. pulses
(urad channa etc); reports on oil complex (soyabean castor etc.) along with spices with reports on
kapas guar seed.

Call Evaluation

A report designed for evaluating the calls given by the 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.

Technical Services

Intra-day Calls

For day trader’s provides intraday calls with entry, exit and stop loss levels during
the market hours and our calls are flashed on our terminals. Our analysts continuously track the
calls and provide the recommendations according to the market movements. Past performance of
these calls in terms of profit/loss is also available to our associates to enable them to judge the
success rate.

Investment Advisory Services

Private Client Group

Offers personalized advisory services to investors and actively assists them in

managing their portfolio. Technicians can seek guidance on specific stocks in their portfolio and
can get proactive advice for timely exit and fresh investments. The portfolio advisory process
starts with understanding each investor's risk / reward / expectations.

In order to systematically diversify the holding of clients across varied sectors and with
an intention to give them handsome returns, devised the concept of the modern portfolio:
Commodities

Provide you a platform to participate and trade in Commodity Futures with both the leading
Commodity Exchanges and offer you immense benefits.

INVESTOR AWARENESS

Investor Awareness program provides information about basic investing, stocks, bonds,
mutual funds, working with brokers, and avoiding scams and frauds.

The Investor Awareness program provides educational presentations and materials, free
of charge, to interested citizens and organizations in E-Broking for the purpose of preventing
securities and increasing understanding of the basics of investing in securities. This program is
funded from monies paid by the securities industry as license fees.

Investor Awareness is knowledge the investment community has of a company.  As such,

investor awareness can be looked at like this: “Do investors know about your company?”  If the
answer is “yes,” then it could be said that the company has “good investor awareness” which
means investors have knowledge of, are conscious of, or have a perception of a company and are
very aware of its products and services.  If we were to assume that a company has “no investor
awareness” or “poor investor awareness,” then the company has probably done a poor job at
creating visibility in the investment community.  Then, we’d likely infer that the company has
little or no visibility outside of its own offices or among friends and family. 

What is E-broking (online stock trading)?

E-broking is an internet enabled system that allows the user to buy and sell shares on the
exchange directly.

This research gives the all answers like why, when what, who, how etc. In this
competitive era there are many stock broking companies enters every year and all brokers comes
with different schemes and different charges.

So, it is necessary to know all the answer of the questions likes,

 Awareness regarding different stock broking houses.

 Awareness regarding E-broking services.
 Do’s and Don’s of E-Broking.
 It also gives the answer of which trading alternatives use.
  MAJOR PLAYERS OF THE INDUSTRY

5Paisa.com:

5paisa is the trade name of India Info line Securities Private Limited (5paisa), member of
National Stock Exchange and The Stock Exchange, Mumbai. 5paisa is a wholly owned
subsidiary of India Info line Ltd, India’s leading and most popular finance and investment portal.
5paisa has emerged as one of leading players in e-broking space in India.

The company’s brokerage is one of the lowest in the industry. It also provides the
research on commodities. Investors can benefit from its analysis and advice available at the click
of the mouse. For those who prefer to trade the traditional way, India Info line investor points are
available across the country.

India Info line was founded by a group of professionals in 1995. Its institutional investors
include Intel Capital, one of the leading technology companies in the

World promoted by the U K government, ICICI, TDA and Reshanar. The company offers
a slew of products such as stock and derivatives broking, commodities broking and mutual funds.

SHCIL (STOCK HOLDING CORPORATION OF INDIA LIMITED)

Stock Holding Corporation of India Limited (SHCIL) was promoted by public financial
institutions and insurance majors like IDBI, UTI, ICICI, LIC, GIC and its subsidiaries, IFCI and
IIBI. SHCIL was incorporated as a public limited company on July 28, 1986. 

SHCIL provides depository, post trading, custodial services, securities lending to

institutional investors and retail investors.
 Other auxiliary services provided by SHCIL include derivatives clearing, PF fund
accounting, SGL constituent account services, mutual funds and other capital market instruments
distribution.

SHAREKHAN

Sharekhan is an equities focused organization tracing its lineage to SSKI, a veteran

equities solutions company with over 8 decades of experience in the Indian stock markets.

In the stock markets. Sharekhan does not claim expertise in too many things. Sharekhan's
expertise lies in stocks and that's what he talks about with authority. So when he says that
investing in stocks should not be confused with trading in stocks or a portfolio-based strategy is
better than betting on a single horse, it is something that is spoken with years of focused learning
and experience

Sharekhan brings a user- friendly online trading facility, coupled with a wealth of content
that will help investors stalk the right shares.

Angel Broking Ltd.:

The Angel Group has emerged as one of the top 5 retail stock broking houses in India,
having memberships on BSE, NSE and the two leading commodity exchanges in the country i.e.
NCDEX and MCX. Angel Broking Ltd is also registered as a depository participant with CDSL.
sub-broker in 1987 with staff strength of 3 personnel. As on date, the group is managed
by a team of 150 professionals & 700 support staff and a nation wide network comprising 50
branches, over 2600+ sub brokers and business associates and 6000 terminals which cater to the
requirements of more than 110,000 retail clients.
S S Kantilal Ishwarlal Securities Pvt. Ltd. (sharekhan.com):

Share khan, is the retail arm of SSKI, and offers you depository services and trade
execution facilities for equities, derivatives and commodities backed with investment advice
tempered by decades of broking experience. A research and analysis team is constantly working
to track performance and trends. That’s why Share khan has the trading products, which are
having one of the highest success rates in the industry. Share khan is having 240 share shops in
110 cities; the largest chain of retail share shops in India is of Share khan.

In future, Share khan is planning to enter in Mutual funds, Insurance sector and banking
sector to expand beyond the market currently covered by it. And it has started MF (Mutual
Funds) on priority basis but wants to grow in it.

KARVY STOCKBROKING LIMITED

Karvy offers a full range of financial services and products ranging from Equities to
Research to enhance your wealth and hence achieve your financial goals.

Equities & Derivatives

Comprehensive services for independent investors, active traders & Non-Resident Indians.

Karvy Research

Premium research on all most all companies updated daily.

Depository Services

Value added services for seamless delivery.

MARWADI SHARES AND FINANCE PRIVATE LIMITED

Marwadi Shares And Finance Pvt. Ltd. Was incorporated in 1992.Marwadi Group
servicing more than 75000 clients, more than 554 pin codes. The company ranked among top 50
broking houses. It has 250 franchisee / sub-brokers and authorized person’s network.

UTI SECURITIES

UTI Bank is a registered member (Depository Participant) of NSDL. India’s first

depository. We can avail all of the depository-related services by just opening an account with
NSDL through UTI Bank.
 UTI Bank provides services like dematerialization of shares, rematerilialization, pledge-
Hypothecation, freezing/ locking Of Accounts, transfer of shares and settlements, receipt of
corporate benefits, holdings & transaction statements on email, tele depository services.

ICICI Web Trade Ltd. (ICICIdirect.com):

ICICIdirect.com was the first entrant into e-broking.ICICdirect.com provides the 3-in-1
to the users which ties in their saving bank account and their Demat account to their brokerage
account electronically. This integration ensures that money is transferred to/from their bank
account and the shares are transferred from/to their Demat account automatically without writing
any cheques or transfer instructions while carrying out their trades in shares.

ICICIdirect.com has the option of trading in shares in cash, margin or spot segments. An
investor can also invest in 14 Mutual Funds (Prudential ICICI MF, Franklin Templeton India
MF, Alliance Capital MF, JM MF, Birla Sun Life MF, Sundaram MF, IL&FS MF, Principal MF,
HDFC MF, Standard Chartered MF, Reliance Capital MF, Kotak Mahindra MF, and TATA MF)
through their trading account.

Kotak Securities Limited (kotakstreet.com):

 Kotak Securities Ltd., a strategic joint venture between Kotak Mahindra Bank and
Goldman Sachs (holding 25% - one of the world’s leading investment banks and brokerage
firms) is India’s leading stock broking house with a market share of 5 - 6 %. Kotak Securities
Ltd. has been the largest in IPO distribution - It was ranked number One in 2003-04 as Book
Running Lead Managers in public equity offerings by PRIME Database. It has also won the Best
Equity House Award from Finance Asia - April 2004.

The company has a full-fledged research division involved in Macro Economic studies,
sectoral 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.

The company has 42 branches servicing around 1, 00,000 customers. Kotakstreet.com the online
division of Kotak Securities Limited offers Internet Broking services and also online IPO and
Mutual Fund Investments.

RELIANCE MONEY

Reliance Money is an endeavour to change the way India trades in financial markets and avails
of various financial services. Reliance Money ensures maximum security with a unique security
token to keep your online account safe.
India Bulls:

An India bull is India's leading retail financial services company with 77 locations spread
across 64 cities. Its size and strong balance sheet allows providing varied products and services
at very attractive prices, our over 750 Client Relationship Managers are dedicated to serving
your unique needs.

An India bull is lead by a highly regarded management team that has invested crores of
rupees into a world class Infrastructure that provides real-time service & 24/7 access to all
information and products. The India bulls Professional Network offers real-time prices, detailed
data and news, intelligent analytics, and electronic trading capabilities, right at your finger-tips.
This powerful technology is complemented by our knowledgeable and customer focused
Relationship Managers.

India bulls offer a full range of financial services and products ranging from Equities,
Derivatives, Demat services and Insurance to enhance wealth and to achieve the financial goals.

ANAGRAM SECURITIES
 Anagram Securities is the part of the Rs. 2000 crores Lalbhai Group. It was found in
1993 and is a member of the National Stock Exchange. Last year their trading crossed Rs. 17000
crores with around 5000 people making. They are dealing only in Stock Market and nothing else.
Though they are doing good research work regarding companies and market which will be the
beneficial to the investors. Gujarat state is one of the most important fields of their business. And
they have about 30 branches throughout Gujarat

HDFC Securities Ltd (HDFCsec):

HDFCsec is a brand brought to you by HDFC Securities Ltd, which has been promoted
by the HDFC Bank & HDFC with the objective of providing the diverse customer base of the
HDFC Group and other investors a capability to transact in the Stock Exchanges & other
financial market transactions. The services comprise online buying and selling of equity shares
on the National Stock Exchange (NSE). Buying and selling of select corporate debt and
government securities on the NSE would be introduced in a subsequent phase. In a few months,
they will also start offering the following online trading services on the BSE and NSE:

1. Buying and selling of shares on the BSE

2. Arbitrage between NSE & BSE

3. Trading in Derivatives on the NSE

4. Margin trading products

Let us study “E BROKING RELATED TO INDIAN BULL MARKET” with the help of
“ANGEL BROKING”.

INTRODUCTION OF THE COMPANY

COMPANY PROFILE OF ANGEL BROKING LTD

Mr. Dinesh thakkar is the man behind the successful building of

angel broking as India’s leading retail stock broking house with his vision,
devotion, dedication, keen foresight and zeal to excel. He is among the
 first generation stockbroker who is credited for conceptualizing and the
subsequently promoting angel group in 1987. He was attracted towards the
stock market due to its prospects of fast growth. He proved his skill and
abilities through efficient trading of stocks by using advanced and
innovation tools of technical analysis.

He started his operations as a sub-broker from a small office at

dalal street with a client base of just around 25 clients and total staff
strength of 3 employees. With his 100% focus on the retail clientele
coupled with his expertise in investment advisory services, he has scaled
much greater height as is evident from our network strength and nation
wide presence today.

The Angel Group has emerged as one of the top 5 retail stock broking
houses in India, having memberships on BSE, NSE and the two leading
commodity exchanges in the country i.e. NCDEX and MCX. Angel
Broking Ltd is also registered as a depository participant with CDSL. It is
the only 100% retail stock broking house offering a gamut of retail centric
services like Research, Investment Advisory, and Wealth Management
Services, E-Broking & Commodities to individual investor.

VISION

 TO PROVIDE BEST VALUE FOR

 MONEY TO INVESTORS THROUGH INNOVATIVE

 PRODUCTS TRADING/INVESTMENT STRATEGIES,

 STATE OF THE ART TECHNOLOGY AND

PERSONALISED SERVICE
 BUSINESS PHILOSOPHY

 ETHICAL PRACTICES & TRANSPARENCY IN ALL OUR

DEALINGS

 CUSTOMER INTEREST ABOVE OUR OWN

 ALWAYS DELIVER WHAT WE PROMISE

EFFECTIVE COST MANAGEMENT

VALUES

 • INTEGRITY

 • TEAMWORK

 • QUALITY MINDSET

 • ENTREPRENEURSHIP

 • SERVICE ORIENTATION

 • PASSION & COMMITMENT

ABOUT ANGEL

• We have a Pan India presence with more than 5000+ intermediaries.

We offer services like:

 Equity Broking
 Commodities

 Depository

 Research

 E-broking

 Advisory

 Portfolio Management Services

 Mutual Fund Distribution

• A client base of 4, 50,000 + active Investors is serviced by our strong

team of 4600 + employees across branches.

• The above distribution makes our client servicing levels one of the
highest in the industry.

• 50 member research team doing technical, fundamental, derivative and

commodity analysis, one of the largest in the industry.

• First broking house to start 100% retail focus research in the industry

ANGEL’S LOGO
ANGLE VISION’S
 ANGEL GROUP COMPANIES:

 BSE- ANGEL BROKING LTD

 NSE- ANGEL CAPITAL AND DEBT MARKET LTD

 NCDEX & MCX- ANGEL COMMODITIES BROKING (P) LTD

Award

Angel was awarded the coveted the “Major Volume Driver” trophy from
BSE for the Year 2004-2005, 2005 -2006 & 2006 -2007.That means the
maximum number of trade on BSE has been done from Angel Broking Ltd

TIE UP BANK’S

 HDFC

 ICICI

 AXIS

 CORPORATION

 ORIENTAL BANK OF COMMERCE

 KARNATAKA

 YES
 Products of Angel Broking

E-Broking

Angle has 3 different products and voila trading on BSE, NSE, F&O,
MCX & NCDEX. It provides three softwares to customers for online
trading.

1. Angel Diet

Application based ideal for traders.

User friendly & simple navigation

Robust & speedier execution of trade

BSE, NSE, F&O, MCX & NCDEX

2. Angel Trade

Browser based for investor

No installation required

Advantage of mobility

Trading as simple as internet surfing

 BSE, NSE, F&O, MCX & NCDEX

3. Angel Anywhere

Application based ideal for traders using technical tool

Intra-day/historical charts with various indicators

BSE, NSE, Cash & Derivatives

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.

De-Risking Portfolio: A diversified portfolio of stocks is always better

than concentration in a single stock. Based on their research, They
diversify the portfolio in growth oriented sectors and stocks to minimize
the risk and optimize the returns.

Depositary Participant Services

 Angel Broking Ltd. Is a DP services provider though CDSL. We offer
depository services to create a seamless transaction platform to execute
trades through Angel group of companies and settle these transactions
through Angel 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

Portfolio Management Services

 Successful investing in Capital Markets demands ever more time
and expertise. Investment Management is an art and a science in itself.
Portfolio Management Services (PMS) is one such service that is fast
gaining eminence as an investment avenue of choice for High Networth
Investors(HNI). PMS is a sophisticated investment vehicle that offers a
range of specialized investment strategies to capitalize on opportunities in
the market. The Portfolio Management Service combined with competent
fund management, dedicated research and technology, ensures a rewarding
experience for its clients .

Angel PMS brings with it years of experience, expertise, research and the
backing of India's leading stock broking house. At Angel, experienced
portfolio management is the difference. It will advise you on a suitable
product based on factors such as your investment horizon, return
expectations and risk tolerance.

PMS Schemes @ Angel

Scheme 1: Angel OYSTER

Description:

The main objective of the scheme is wealth generation by delivering superior returns over long
term through investments and equity related instruments.

Investment Strategy:

 To generate wealth on consistent basis rather than outperform by taking higher risk.

 Logic works well and thus will be given weight age along with financials

 Early identification of stocks to ride through the entire investment cycle

 Timing of investment is important to generate superior returns

 Bottom –up approach

Parameters Driving Investment Decision:

 Blend of growth and value stocks

 Investments in companies regardless of market capitalizations

 Keen selection of stocks based on potential for value unlocking based on key events

 Focus on companies which display

 Scalable business potential
 Large market opportunity
 Beneficiary of favorable economic cycle
 Valuation at steep discount to asset value

Sectoral Composition:

 May include under- researched companies

  Portfolio could invested in liquid funds

Investor Profile:

 Safety of capital will be of utmost importance

 The scheme would be suited for investors having medium to long term perspective (i.e.
12-18 months)

Scheme 2: Angel BLUE- CHIP

Description:

The objective of the scheme is to generate capital appreciations in the medium to long term
through investments in equities and equity related instruments comprising predominantly large
cap companies.

Investment Strategy:

 The scheme will seek to achieve returns through brand based participants in equity
markets by creating a diversified equity portfolio. The portfolio will be overweight on
large cap companies.
  The portfolio strives at all time to achieve an 80% allocation to large cap companies.

 The allocation of sectors and stocks in the portfolio may be dynamically structured in
tune with changes in broader market conditions

Parameters Driving Investment Decision:

 Overweight on large cap stock. However quality mid cap stocks may also be considered
for investment.

 Portfolio to comprise of a combination of growth & value stocks.

 The portfolio strives to limit the exposure to any sector to less than 25% of the portfolio
size

 The portfolio strives to limit the exposure to any stock to less than 10% of the portfolio
size

 The allocation and composition of medium capitalized stocks to vary based market
conditions

Investor Profile:

 The scheme would be suited for investors with low to moderate risk appetite
 The scheme would be suited for investors having medium to long term perspective.

Mutual Fund

To enable clients to diversify their investment in the right direction. Angel

Broking has added another product in its range with mutual funds.

Access to in-depth research & proper selection from diversified funds

based on your preferred criteria

Rating and rankings of all mutual funds from our in house expert analysts

News and alertfor your Mutual fund Portfolio and performance tracking
with watch lists

Current and historical performance of different funds enabling

comparisons

Benefits
 No risk of loss, wrong transfer,mutilation or theft of share certificates.

Hassle free automated pay-in of your sell obligations by your clearing

members

Reduced paper work.

Speedier settlement process. Because of faster transfer and registration of

securities in your account, increased liquidity of your securities.

Instant disbursement of non-cash benefits like bonus and rights into your
account.

Efficient pledge mechanism.

Wide branch coverage.

Personalized/attentive services of trained help desk.

‘Zero’ upfront payment.

No charges for extra transaction statement & holding statement.

All in one combined Monthly ‘Bill-cum Transaction-cum-Holding-cum-

ledger’ statement.

 ANGEL GOLD:

In a volatile market it is very difficult for an investor to pick up value stocks which will
give decent returns in the long run. We at Angel Gold realize your need for a professional
financial advisor and hence are here to assist you in making wise and profitable decisions.

We strongly believe that right decisions taken at the right time are always beneficial and
that's why our entire research team comprising of 12 sector specialists along with our research
head will understand your need, return expectation, risk profile and time horizon to design your
portfolio accordingly. This portfolio will be tracked regularly and our efforts would be to
optimize your returns in the long run.

Features of the Angel Gold:

 A premium service for clients who need professional guidance on long term investments.
 Minimum fund / portfolio of Rs. 1 lac and maximum of Rs. 4 lac eligible for Angel Gold.
 Appropriate risk profiling before taking investment decisions
 Periodic group meetings and seminars in branches.
 Monthly Newsletter from the desk of “Angel Gold” .


 Browser based back-office software.
 INVESTMENT PHILOSOPHY

“Given the client’s risk profile, maximize performance by adhering to disciplined investment
approach backed by quality research.”

Angel’s investment philosophy is based on two key attributes:

1. Wealth Creation :

The creation of Wealth can be categorized as :

 Having money work for client

 Having others work for client
 Client Working for Money

2. Wealth Preservation :

As wealth grows, focus is shifted to striking a balance between asset creation and preservation.
Wealth preservation applies to day-to-day financial life which includes managing cash flow and
overall risk management.
 OBJECTIVE OF ANGEL INVESTMENT PHILOSOPHY

Angel’s objective at all time is to protect and then grow client’s portfolio.

The primary aim is to avoid the thoughts of the declining market and not necessarily out-perform
the rapidly rising market but to consolidate both the periods, which would result in out-
performing the market along with wealth creation.

Angel’s investment philosophy is outlined by in-depth focus on a disciplined long term

investment approach in potential multi-baggers.

The 3 important tenets that we look for in any stock are:

  Consistent, steady & sustainable returns
 Margin of safety
 Low volatility

 REPORTS :

 Market Outlook at 9:15 a.m. :

A crisp pre-market report that arms the client with sensitive information before
the opening bell. Key corporate developments, policy announcements, geo-political
news and views are analyzed for their impact on the market.

 Technical Report at 6:00 p.m. :

This report analyzes trading pattern, historical background, market positions of
key stocks and offers short term (1 to 5 days) as well as medium term (10 to 20 days)
view. Tracking individual scrips as well as the Sensex and Nifty, its insights cut through
the market maze.

 Derivative Analysis Report at 9:15 a.m. :

The report provides information on FII activity in derivative segment, change in
open interest put call ratio, cost of carry of stock and index based derivative products.
The derivative analysts use the above tools to project movements during the next trading
sessions.
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 scrips, their price targets and trading strategies. Another unique feature
of this report is that it provides an updated view of about 70 prominent stocks on an
ongoing basis.

 The Industry Watch :

This report provides an in-depth analysis of specific industries which are likely to
outperform others in the economy. It analyzes their strengths and weaknesses and
ascertains their future outlook. The final view is arrived at after thorough interaction
with industry experts. Also comparative performances of various companies in the sector
are evaluated and top picks are recommended.

 Stock Analysis :
Angel’s stock research has performed very well over the past few years and the
Angel Model Portfolio has consistently outperformed the benchmark indices. The
fundamentals of select scrips are thoroughly analyzed and an actionable advice is
provided along with investment rationale for each scrip.
  Flash News :
Key developments and significant news announcements that are likely to have an
impact on markets / scrips 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 day traders in judging the directions
of the market and stocks which are in the limelight.

 Intraday Calls :
For day traders, Angel 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 :
Angel’s “Position Trading Calls” are based on thorough analysis of the price
movement in select scrips. 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. Ov 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 access state of the art Technology
with three different e-broking products and voila trading on BSE, NSE, F & O, MCX and
NCDEX.

ONLINE PRODUCTS

 ANGEL DIET:
Application based product for Traders.

 ANGEL ANYWHERE:
Application based product for Traders with Charts.
  ANGELTRADE:
Browser based product for Active Investors.

Angel Diet :

o Application based ideal for traders

o User friendly and simple navigation
o Robust and speedier execution of trade
o BSE, NSE, F & O, MCX and NCDEX
 Angel Trade :

o Browser based for investors

o No installation required
o Advantages of mobility
o Trading as simple as internet surfing
o BSE, NSE, F & O, MCX and NCDEX
 Angel Anywhere :

o Application based ideal for traders using technical tools

o Intra day / Historical charts with various indicators
o BSE, NSE-Cash & Derivatives
 ACHIEVEMENTS OF ANGEL

 Major Volume Driver Award for 2004-2005 by BSE

 Major Volume Driver Award for 2005-2006 by BSE
 SWOT ANALYSIS

STRENGTHS:

 Understanding the needs of a channel partner and retail investor very well.
 Deriving inspiration from their vision of providing the best value for money to their
clients.
 Strict adherence to compliance norms.
 Timely research based advice to their clients.
 50 member research / advisory team comprising of experienced fundamental and
technical analysis, sector specialties, derivative strategist and commodity analysts
 Strong Communication Network.
 Good Image and strong back ground.

WEAKNESSES:

 High Employee Turnover.

 No lifetime facility for Demat A/c
 No funding facility

OPPORTUNITIES:

 To get into the segment of such investors who are less risky.
 Marketing at rural and semi-urban areas.

THREATS:

 Increasing number of local players.

 Past image of Stock market
PERFORMANCE APPRAISAL SYSTEM

At ANGEL, increments will be based only on annual appraisals and will be strictly bench
marked with the relative importance of the role and specific contributions of each employee.
Annual Appraisal’s are reviewed twice in a year i.e. in July and December. New employees who
have at least completed 9 months of service (6 months of confirmed service) by July or
December will be eligible for an annual increment, depending on their performance &
contribution to the company.

The Performance Management System

 Links employees’ performance to the Corporate Goals through well Defined Key
Performance Areas (KPAs) & measurable targets, reviewed every quarter.
 Focuses on defining & rating all Managers on Key Competencies relevant for our
business.
 Ensures an objective Performance Appraisal of employees through a meaningful dialogue
with them about their performance and decide on measures to improve their contribution
and rewards.
 Identifies key strengths of employees & builds a Training-cum-Career Development Plan
for them.
 Provides opportunity for senior employees to make a Self Appraisal of their performance
based on their KPAs and Targets, thereby minimizing areas of differences.
  Aligns the compensation of each employee with his performance & successful com
pletion of NCFM modules related to their job profiles
 Downward revisions in compensation are also possible

Performance Related Rewards (PRR) / Bonus

The company pays bonus or Performance Linked Incentives to deserving employees who
have contributed more than their defined performance standards & targets. The company
plans to progressively increase the variable pay component in the compensation structure to
ensure greater accountability and performance orientation.

SUCCESSION

The 'star' Angelites are change leader and helps in acting as catalysts in driving the process
improvement programs across various functional areas and profit centers through their
Management Development Program. These change leaders (*Angel Managers) play an active
role in strengthening the professional managerial team by benefiting from this knowledge
sharing initiative.

REGULATORY ENVIRONMENT DETAILS

LEGISLATION

The four main legislations governing the securities market are:

(a) The Securities Contracts (Regulation) Act, 1956, preventing transactions in securities by
regulating the business of dealing insecurities

(b) The Companies Act, 1956, which is a uniform law relating to companies throughout India

(c) The SEBI Act, 1992 for the protection of interests of investors and for promoting
development of and regulating the securities market, and
(d) The Depositories Act, 1996 which provides for electronic maintenance and transfer of
ownership of dematerialized securities.

RULES AND REGULATIONS

The Government has framed rules under the SCRA, SEBI Act and the Depositories Act. SEBI
has framed regulations under the SEBI Act and the depositories Act for registration and
regulations of all market intermediaries, for prevention of unfair trade practices, insider trading,
etc. Under these Acts, Government and SEBI issues notification, guidelines, and circulars
which need to be compiled with the market participants. The self-regulatory organizations
(SROs) like Stock Exchanges have also laid down their rules.

REGULATORS

The regulators ensure that the market participants behave in a desired manner so that the
securities market continues to be a major source of finance for corporate and government and the
interest of investors are protected. The responsibility for regulating the securities markets
shared by Department of Economic Affairs (DEA), Department of Company Affairs (DCA),
Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI) and Securities
Appellate Tribunal (SAT).

FINDINGS

Angel Broking Ltd. is a world class company and providing very good
services to its clients

Its main objective to provide personalize services to the clients

In the survey it found that 50 percent people among the whole are aware
about the services providing by Angel Broking Ltd

44 persons are like to invest in share market among the total which is the
highest among other alternatives
Around 38 People among total are more aware about Angel Broking Ltd.
and like to give preference

There are 77 percent persons among total who like to invest in Angel
Broking Ltd. than others and 33 percent are used to trade daily

Angel Broking Ltd. is providing lots of services to its clients like PMS,
Investment Advisory, M-Connect, E-Broking, Insurance, Mutual Fund

89 percent people said that their company from where they are availing
investment in stock market is providing online trading and others are not

Among all the companies Angel Broking Ltd. is at the 1st no.

CONCLUSION

To succeed in digital space, marketers need to engaged, excite,

enable customer, to fulfill there expectation. Marketing system is more
agile and responsive. Customer experience and trusty, security and privacy
are critical factor. E-World is unforgiving and has less patience. Hence
promise to perform to keep up promise. Internet has resulted in consumer
power shift and also marketing ability to respond and anticipate. Still the
need for creative marketing exists. Internet is profound
 Impact on value changes activities. There is need to synergies
online and offline effort to offer better value. Designing E-Business plan
and measuring E-Metric is essential. Internet serves a new business for
advertising, marketing research and sales promotion, distribution. Similar
studies need to be conducted across diverse areas in B2C and B2B
domains to understand attitudes, behavior and key success factor.

RECOMMENDATIONS

 To make the concept of e-Broking powerful, the Company must educate the people regarding
the benefits of e-Broking.

 The Company can give training to the customers regarding e-Broking and keep seminars for
the customers.

 A person having sound knowledge about using the software can be appointed to solve the
queries of customers.

 The benefits of e-Broking must be marketed properly in order to make people use e-Broking.
Through this the Company can increase the awareness of e-Broking.

 The features of online trading can be used by the Company to convert offline traders to
online traders.
 The potential customer can be identified by knowing the competitor’s customer and they can
be conveyed to trade with Angel Broking by conveying the unique features and low
brokerage provided by the Company.