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Author Name Doc 13

Title Doc 13
Paper/Submission ID 791999
Submission Date 2023-06-30 09:12:53
Total Pages 51
Document type Thesis

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Similarity 11 %
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1 A PROJECT REPORT ON INDIAN STOCK EXCHANGE ANALYSIS Student Paper

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AT IIFL BY 19E41E0026 Yr-2021 SUBMITTED TO JNTU

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14 AWARENESS OF MUTUAL FUNDS AMONG FINANCIAL Student Paper

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 CHAPTER-I

INTRODUCTION
 INTRODUCTION
A stock exchange is a supervised trading platform for stocks and other financial instruments.
Security issuance is a common method for funding debt and capital expenditures among
governments, quasi-government organisations, PSUs, and private enterprises. Securities include
stocks, bonds, debentures, etc., and may be transferred just like any other type of personal
property with a simple endorsement. You may buy and sell them on the stock exchange. It's
possible to make a similar case for stock in a corporation. Under the Securities Contract
Regulation Act of 1956, trading in securities is regulated by the Central Government and is only
allowed on stock exchanges recognised by the government. As was just indicated, 23 such stock
exchanges are currently officially recognised in India. Some of the most prominent stock
exchanges are recognised on a permanent basis, such as the Bombay Stock Exchange, National
Stock Exchange, Inter-Connected Stock Exchange, Kolkata Stock Exchange, Delhi Stock
Exchange, Chennai Stock Exchange, Hyderabad Stock Exchange, Bangalore Stock Exchange,
etc. The aforementioned rules also require that trading in authorised contracts be handled via
registered members of the exchange. The designated trading ring will be available during normal
trading hours (Monday through Friday, 10 a.m. to 3:30 p.m. EST) for the trading of securities
eligible for exchange under the aforementioned laws. The following trade contracts have been
approved:
When you make a spot delivery stock purchase, the shares will be sent to you on the same or
next business day that your payment clears.

Option B stock purchases will be delivered by hand delivery within 7-14 business days after the
contract date.
Shares must now be delivered through clearing within 15 days (C) after the contract date, a
reduction from the previous deadline of two months.(From 7 to 2 working days for demat
trading)
D. Long-term stock holding arrangements via special delivery agreements authorised by a stock
exchange board.

Research Imperatives

Both stock brokers' and investors' socioeconomic origins have significant effects on their
investment decisions and the market as a whole. Metrics for marketing and investment choices
may be prioritised based on the importance investors place on various areas of stock brokers'
service quality. Investors' and stakeholders' happiness with the services they received from share
brokers and the services they provided might provide light on their actions. It would be useful to
understand the relationship between investment behaviour and the influence of investment
behaviour on investors' monthly transactions in order to assess the most significant investment
behaviour, to increase and improve the quality of transactions and investment patterns in the
share market. In addition, the SWOT analysis, which stands for "strengths, weaknesses,
opportunities, and threats," may be a great tool for share brokers to use in order to figure out how
they can enhance their services and how firms can best market themselves. Brokers may tailor
their approach to clients' needs based on their knowledge of their individual service needs.
The reason behind this study To better understand the listing process and the benefits of being
listed on the stock exchanges, this research will compare and contrast the National Stock
Exchange with the Bombay Stock Exchange.

OVERALL REVIEW GOALS

The programme would help businesses get familiar with the NSE and BSE listing procedures,
promote the benefits of going public, and raise capital via stock offerings. This effort supports
businesses in making investment choices by making pricing swings transparent.

CONTRADICTIONS TO THE RESULTS OF THE STUDY

The assignment I've been assigned has strict time requirements. Due to the fact that my contract
was for just two months. All that is covered in this project is the stock listing process on the NSE
and BSE. If you put what you learn into practise, you can become an expert in your field.
Theoretical understanding has little value until it is put to use in practical situations. Therefore, it
is essential to put theory into practise. This is possible via summer internships at different
companies, where one works under the guidance of a seasoned expert. Students are expected to
turn in a report outlining what they did and what they learnt during this time period. The quality
of the report is evaluated by the data it contains. To be more specific, I was requested to do
research on the "Comparison of listing procedure between NSE & BSE."

RESEARCH APPROACH
Secondary data and a pie explosion chart in the style requested by the customer form the basis of
the method utilised to complete the assigned job. The descriptive study employs an exploratory
research technique, and researchers have access to the forms in order to identify the prospective
measure. The study relies on descriptive research methods since it details the BSE and NSE and
the listing procedure.
Secondary data will be gathered from a variety of sources, such as journals, newspapers, and the
internet, and included into the analysis.
Research Methods: Analytic and Descriptive
The method of gathering data is called "secondary data collection."

OVERALL REVIEW GOALS

The petroleum sector is the exclusive domain of this undertaking. This research is just concerned
with one specific segment of the stock market. The project's scope does not include businesses
outside of the target industry.Secondary data were utilised throughout the whole analysis.
Secondary resources, such as business websites, annual reports, and trade periodicals, are mined
for data on the oil sector, government policies, and individual companies.
 CHAPTER-II

REVIEW OF LITERATURE

REVIEW OF LITERATURE
To "list" shares of a corporation is to officially approve their sale on a stock exchange. The
primary goal of the Exchange's admission policy is to improve the marketability and liquidity of
securities in order to promote the effective and orderly administration of trade. Companies that
fulfil NSE's listing criteria benefit from increased visibility, access to a larger pool of investors,
lower finance costs, expanded distribution channels, and better price transparency, among other
things. Trading terminals are available in many different cities and towns around the nation,
thanks to the National Stock Exchange (NSE). There are requirements that securities must fulfil
before they may be listed on the Exchange. There may be many different series and ticker
symbols for a company's shares. The NSE plays a critical role in easing the way for Indian
companies to get equity financing. About 800 companies from every area of the Indian economy
are represented on NSE, from software to refineries to government agencies to transportation
networks to banks. A company's profile among Indian and foreign investors improves once it has
been listed on the NSE. Several news aggregators provide their audiences with data on
international commerce. Furthermore, a company must fulfil stringent financial, public
dissemination, and managerial criteria in order to be listed on the NSE. Investor confidence is
bolstered by stringent listing criteria, which also provide credibility to the markets. The NSE's
Capital Market (Equities) and Wholesale Debt Market are where investors may find these
securities. Format for Cataloguing A number of steps must be taken before an Issuer may submit
an application to have its securities listed on the NSE. To have its securities listed on the NSE,
the Issuer must take these steps.

The following are only a few of the numerous steps that must be taken: 1.
Articles of Incorporation and Memorandum of Association Are Adopted
Third, complete the draught of the prospectus.
4. Formalised Application 5. Listing Requirements
The First Steps of Discussions
Representatives of the Issuer are encouraged to meet with the NSE to discuss the requirements
for listing the Issuer's securities. The major purpose of these discussions should be to ensure that
the Issuer has the requisite qualifications for admission to listing on the NSE and that the Issuer
has a thorough grasp of all criteria preceding listing on the NSE. Before finalising your
prospectus and Memorandum and Articles of Association, you may submit them to the NSE for
assessment.

Format for Cataloguing

Approving Organisational Forms

In order for the Issuer's securities to be listed, the following terms must be included in the
Articles of Association in line with Rule 19(2) (a) of the Securities Contracts (Regulation) Rules,
1957.

Fully paid shares shall be free from all lien, and in the case of partly paid shares, the Issuer's lien
shall be limited to moneys called or payable at a fixed time in respect of such shares, a common
form of transfer shall be used, and d. registration of transfers shall be required.

Share Certificate Subdivision/Consolidation Request Authorization.

If the Relevant Authority determines that certain provisions in the Articles of Association of an
Issuer are inappropriate for a publicly traded company, it may file a petition to have the Articles
of Association changed to reflect the Authority's preferred and necessary changes. The Articles
of Association of the Issuer will be updated as required to meet the above requirements. If the
Issuer agrees to amend its Articles of Association at its next annual general meeting so that they
comply with Rule 19(2)(a) of the Securities Contract (Regulation) Rules, 1957, and if the Issuer
agrees to act in strict accordance with the applicable provisions of the Securities Contract
(Regulation) Act, 1957 and the Securities Contract (Regulation) Rules, 1957, then the Issuer's
securities may be admitted for listing on the NSE.If a clause in the Articles of Association
conflicts with standard business procedure, it must be revised.

Preliminary Prospectus Accepted The application and preliminary prospectus must be submitted
to NSE by the Issuer. Draught prospectuses and applications for the offering must be submitted
to NSE for approval at the same time they are submitted to the applicable Regional Stock
Exchange if NSE is not that exchange. Prospectuses must have been written and distributed in
accordance with all relevant legislation, notifications, circulars, guidelines, etc. Companies Act,
Securities Contracts (Regulation) Act, SEBI Act, and any subordinate legislation thereto may all
have obligations that the Issuers should consider. Any permission that the National Stock
Exchange (NSE) may provide in this respect will not be construed as consent under any laws,
rules, notifications, circulars, guidelines, etc. The National Stock Exchange (NSE) will assess the
draught prospectus merely to confirm that it fulfils the listing criteria. Each Issuer must supply
the NSE with a copy of the draught prospectus that the Issuer's home stock market has prepared.
The Issuer must additionally provide an acknowledgment card or letter detailing SEBI's
comments on the draught prospectus or letter of offer in order to meet the requirements of the
SEBI Listing Procedure.

Fees and deposits for listing on the NSE (for new and fresh offerings in jurisdictions where the
NSE is the regional stock exchange) Paperwork in Support New Issuer Listing Application to the
NSE Additional Issues from Currently Listed Issuers on the NSE

New Issuer Application for Listing on the New York Stock Exchange. Submission of an
application in the form or forms described above or in such other form or forms as the Relevant
Authority may from time to time prescribe in addition to, in modification of, or replacement
thereof is required for a firm to list its securities on the NSE.
Sections of the Articles of Incorporation The 'A' Appendix.
Appendix 'B' to Listing Request.
Appendix C-1, the Listing Application, contains information on the securities before they are
issued.
File 'C-2': Listing Application, including background on the securities' subsequent development.

Checklist of supporting materials (if applicable to the issuer). Application to List Additional
Issues from Existing NSE-Listed Issuers Appendix 'D' Distribution Schedule Appendix 'E'
Listing Agreement Annexed as Appendix 'F' In order to list further issues of securities on the
NSE, an issuer must first apply to have securities listed on the NSE. Complete one of the
application forms or any other form(s) that the Appropriate Authority may from time to time
need in order to apply for admission.
Application Letter for Supplemental Issue and Distribution Plan Appendix 'E' Appendix 'G' has
the listing.
Appendix 'H' to the Listing Application Regarding Securities Data.
Appendix 'I' — Suppporting materials inventory (if applicable).
Featured Ads

The listing charge will be a percentage of your company's paid-up share capital.

2. Methods for Addressing Investor Complaints

Consider these aspects:

Resolving previous investor complaints against the application, the promoter(s), the promoter's
group of companies, and the promoter's promoted companies.
• The applicant has initiated the appropriate processes to ensure that its investment will be served
as expected.

Protection and service for investors from the standpoint of the issuer, the promoters, the group
firms, and the promoted enterprises.

When deciding whether or not to list a company, regulators will look at factors like whether or
not the applicant, promoters/promoting company(ies), group companies, or companies promoted
by the promoters/promoting companies have paid interest and/or principal on any outstanding
debentures, bonds, or fixed deposits. You also need the auditor's permission in this regard. The
listing of the company's shares might be postponed until all interest and principal payments owed
by the applicant company have been made.

3. Transfer of Stock Ownership

The applicant company and the promoting business's shareholding structure as of March 31 of
the three preceding years must be disclosed in a manner compliant with regulatory requirements.

4. Particulars of the Procedings

Each party involved in a lawsuit during the previous three years—the applicant,
promoters/promoting company(ies), group companies, and firms promoted by the
promoters/promoting company(ies)—must provide this information to the exchange.

5. Directors' Past Performance and Expectations

Disclosures regarding the status of any criminal cases filed or the nature of any investigation
being conducted with respect to the alleged commission of any offence by any of the issuer's
directors and the effect on the business of the company may be required in the offer document
where all or any of the issuer's directors have been charged with serious crimes.

6. Substantial Change in Company Management or the Use of Publicly-Raised Capital

Additional disclosures to the Exchange are required by the Exchange's rules and regulations for
companies that undergo a change in control due to the entry of new promoters, resulting in new
management, or that use proceeds from a public offering for purposes other than those specified
in the offer document.

NOTE:

If an unlisted company merges with a listed company and then applies to be listed on the NSE,
the Exchange will only approve the merger if either the surviving listed company meets all the
criteria for listing on its own account or the surviving unlisted company meets all the
requirements for listing on the Exchange except the market capitalization condition. In the case
that any of these conditions are not met, the company may still be eligible for listing 18 months
after the publication of two annual reports, or whenever the requirements are met.

Investment Portfolio Compilation

In order for securities to be "listed," the stock exchange must first provide its approval for trade.
The securities may be issued by any entity that is either publicly traded or publicly or privately
owned and operated by the government at any level (national, state, or municipal).

The following are the main justifications for the existence of listing:

Help in the buying and selling of stocks;

Use savings to fuel economic expansion to a greater extent;

• provide full transparency to protect the interests of investors.

Compliance with the Companies Act (1956), the Securities Contracts (Regulation) Act (1956),
the Securities Contracts (Regulation) Rules (1957), the Securities and Exchange Board of India
(SEBI) Guidelines, and the Rules, Bye-laws, and Regulations of the Exchange is the
responsibility of the Listing Department of the Exchange.

A company's stock cannot be listed on the Exchange unless it satisfies the Exchange's listing
requirements. Some instances of what's required are as follows: -

1. Guidelines for Listing New Businesses

2. Requirements for Companies Seeking Readmission to This Exchange After Being Delisted

3. Requirements for Companies Seeking Readmission to This Exchange After Being Delisted

4. An Issuer Company's Prospectus Receives Stock Exchange Approval

5. Letters of application are required.

6. Stock Allotment

7. Trading Permission Requested

8. 1% Required Safety Net

9. Received Payments Based on List Price

10. Conditions for Listing Fulfilled

11. The "Z" Cells

12. Collection of Listing Fees through Cash Management Services

REQUIREMENTS FOR NEW ENTRIES TO BE LISTED AT A MINIMUM

Minimum Investment:

Upon completion of its first public offering, a business seeking listing on the Exchange must
have at least Rs.10 crores in issued and subscribed equity capital. After the issuance, the
networth of the issuer company must be at least Rs.20 crores (equity capital + free reserves less
revaluation reserve).

For startups in the high-tech industry (which includes fields like IT, the web, e-commerce,
telecom, media, advertising, entertainment, etc.), the following criteria will be applied to the
minimum viable product size.
I. The company's major business must have been related to IT, the internet, e-commerce,
telecommunications, media, including advertising, entertainment, etc., and the company's
auditors must attest to this fact.

After the offering, the total amount of paid-in equity must be at least Rs.5 Crores.

Third, there must be at least 50 billion rupees added to the market value. After the offering, the
market capitalization will be calculated by multiplying the issuance price by the number of
equity shares subscribed for.

Equity capital + free reserves minus revaluation reserve equals a net value of Rs.20 crores after
the issue.

Public THRESHOLD OFFER (B):

Before a company's securities may be listed on a Stock Exchange, the Securities Contracts
(Regulation) Rules, 1957 provide that at least 25% of each class or kind of securities must be
available to the public for subscription.

Under certain circumstances, unlisted companies in the IT and entertainment sectors may
conduct an initial public offering (IPO) in which at least 10% of the company's issued securities
are offered to the public.

At least 20 million stocks must be offered to the public (after subtracting for reservation, firm
allocation, and promoters' contribution) for the IPO to reach a minimum of 50 crores.
To be clear, the term "offered to the public" only applies to the portion of the stock that is being
sold to the general public; it does not include any company or competitive reserves of shares.

In the event of a government-owned company as defined by Section 617 of the Companies Act,
1956, SEBI may, at the urging of the relevant stock exchange(s), provide an exception to this
rule.

In order to be listed on other stock exchanges, minimum conditions [II] must be met.

The BSE Governing Board met on August 6th, 2002, and updated the regulations for companies
already listed on another Stock Exchange that want to list on the BSE. These regulations are
effective right now.

There must be at least 3 crores in issued and paid-in equity capital for the company to operate.

Second, the company must have been profitable for the last three years running. Any gains from
exceptional circumstances should be disregarded when calculating the amount of distributable
profit.

Third, a net worth of at least Rs. 20 crores (including free reserves but excluding revaluation
reserves).

There has to be at least twice as much money invested in the listed capital as there is in the paid
up capital.

Fifth, the company must have a dividend yield of 10% or more and have paid dividends for the
previous three years running.
The Listing Agreement, specifically Clause 35, mandates that shareholders other than the
Promoter own at least 25% of the issued capital of the firm. No shareholder, alone or in concert
with others, may possess more than 0.5% of the paid-up capital of the corporation, with the
exception of banks, financial institutions, international institutional investors, overseas corporate
entities, and non-resident Indians.

A regional stock market listing history of at least two years is required.

The company should enter into an arrangement with CDSL and NSDL to support demat trading.

Getting back on this Exchange after being delisted (the relisting requirements)

If a company has been delisted from this Exchange but is now hoping to relist, it must conduct a
fresh initial public offering (IPO) in compliance with SEBI and BSE regulations.

Allowing an Issuer Company to Use the Exchange's Name in Offering Documents [IV]

Companies wanting to list securities sold via public offerings must first get the Exchange's
authorization to use the name of the Exchange in the prospectus or offer for sale papers before
filing with the relevant office of the Registrar of Companies. The Exchange has had a "Listing
Committee" for the last three years whose responsibility it is to evaluate draught prospectus/offer
documents submitted by companies in advance of their planned public issues of securities and to
decide whether or not to grant the companies permission to use the name "Bombay Stock
Exchange Limited" in their offering materials. The committee looks at the promoters, the
company, the project, and other factors before reaching a decision.

Cover Letter (V) from Applicant

A company that wants to list its securities on the Exchange must, under Section 73 of the
Companies Act, 1956, first file a Letter of Application to each stock exchange at which it plans
to do so.

Distributing Investments (Section 6)

Within 30 days after the day the subscription list was closed, the firm must submit to the
Regional Stock Exchange or Stock Exchange nearest to its Registered Office for approval the
basis for allotting publicly issued shares in accordance with the conditions of its Listing
Agreement.

If a Book Building issue's allotment doesn't happen within 15 days of its closing, investors will
lose 15% of their money.

[VII] PERMISSION TO TRANSACT BUSINESS

In accordance with the norms set out by the Shares and Exchange Board of India, the issuing
company has 7 business days from the conclusion of the Basis of Allotment to complete the
trading processes at all the Stock Exchanges where the shares are to be listed.

Allocation of all securities and shipping of allocation Letters/Share Certificates and Refund
Orders must be completed and sent within the time limit specified in the prospectus or offer
materials, and the company must also receive listing rights from all the Exchanges whose names
are stated in the prospectus or offer papers. The distribution of shares ceases if a company's
application to list its securities on a certain stock market is turned down. According to Section 22
of the Securities Contracts (Regulation) Act, 1956, the company has the right to file an appeal
with the Securities and Exchange Board of India.

[VIII] NECESSARY 1% SECURITY DEPOSIT

The local stock market often requires a one percent deposit of the entire amount before a public
or rights offering can commence. This money might be wasted if the company ignores investor
complaints, such as a failure to pay commission to underwriters, brokers, etc. or a delay in
processing refund requests or delivering share certificates.

Registration Fees (IX)

Listed companies must pay the Exchange the Annual Listing Fees by the end of each fiscal year
on April 30. These fees are set by the Exchange and may be found in the Schedule of Listing
Fees.

The Securities and Exchange Board of India has approved the following listing fee structure for
the years 2004-2015, as put out by the Governing Board of the Exchange.

X MEETS LISTING REQUIREMENTS

The Listing Agreement specifies the information a firm must provide and the steps it must take
in order to have its shares listed on an exchange. This contract is so important that the
corporation used its official seal while signing it. A company's obligations under its Listing
Agreement include, but are not limited to, the following: providing facilities for the timely
transfer, registration, sub-division, and consolidation of securities; providing proper notice of the
closure of transfer books and record dates; providing copies of unabridged Annual Reports and
Balance Sheets to shareholders; filing an annual Distribution Schedule with the Exchange;
providing financial results quarterly; informing the Exchange of any material change in the
company's business; and providing quarterly financial results.

The Listing Department of the Exchange oversees the compliance of all listed companies and
takes action against those that violate the Listing Agreement by, for example, failing to submit
quarterly reports or annual listing fees on time or failing to meet the minimum number of
required shareholders.

The "Z" (XI) Group

The Exchange established the "Z Group" in July 1999 to categorise companies that were not in
line with the Listing Agreement. There were 1,475 registered firms at the end of May 2016.

There were 5,874 distinct listed entities on the Exchange as of the end of May 2016. This sum is
more than any other Stock Exchange in the United States or anywhere else in the world.

Direct Listings: New Guidelines

The BSE Governing Board met on August 6th, 2002, and updated the regulations for companies
already listed on another Stock Exchange that want to list on the BSE. These regulations are
effective right now.

There must be at least 3 crores in issued and paid-in equity capital for the company to operate.

Second, the company must have been profitable for the last three years running. Any gains from
exceptional circumstances should be disregarded when calculating the amount of distributable
profit.
Third, a net worth of at least Rs. 20 crores (including free reserves but excluding revaluation
reserves).

There has to be at least twice as much money invested in the listed capital as there is in the paid
up capital.

Fifth, the company must have a dividend yield of 10% or more and have paid dividends for the
previous three years running.

The Listing Agreement, specifically Clause 35, mandates that shareholders other than the
Promoter own at least 25% of the issued capital of the firm. No shareholder, alone or in concert
with others, may possess more than 0.5% of the paid-up capital of the corporation, with the
exception of banks, financial institutions, international institutional investors, overseas corporate
entities, and non-resident Indians.

7. A regional stock market listing history of at least two years is required.

The company should enter into an arrangement with CDSL and NSDL to support demat trading.

[XII] Cash Management Service (CMS) Listing Fees Collection

The Exchange has coordinated with HDFC Bank to accept listing fees at any of their 141
locations in India, greatly simplifying the procedure of paying the charge. The addresses of
HDFC Bank branches are shown on both our site (www.bseindia.com) and the HDFC Bank site
(www.hdfcbank.com). Obtaining this service will not cost the Companies anything.

To employ the aforementioned method, businesses must fill out the Cash Management Cash
Deposit Slip with their listing fee payment details. These slips may be found at any HDFC Bank
branch.
SCHEDULE OF LISTING FEES FOR THE YEAR 2015-2016
 CHAPTER-III

INDUSTRY PROFILE

&

COMPANY PROFILE
INDUSTRY PROFILE

NATIONAL STOCK EXCHANGE

The National Stock Exchange (NSE) is India's largest and most significant stock exchange,
covering several cities and towns around the country. NSE was established by leading financial
organisations to ease trade throughout the country. As a consequence of the Exchange,
transparency, speed, efficiency, safety, and market honesty have all reached new heights. It has
built infrastructure that serves as a model for the whole securities business in terms of systems,
procedures, and processes. NSE's innovative initiatives have greatly enhanced the
microstructure, market operations, and trading volumes of India's securities market. Among the
many developments in products and services that the market has seen in recent years are the
demutualization of stock exchange governance, screen-based trading, settlement cycle
compression, dematerialization and electronic transfer of securities, securities lending and
borrowing, professionalisation of trading members, and refined risk management systems.
NSE MILESTONES
THE ORGANISATION
The High Powered Study Group on Establishment of New Stock Exchanges's recommendation
that financial institutions (FIs) promote a National Stock Exchange to provide investors from all
over the country with equal access served as the impetus for the establishment of the National
Stock Exchange of India Limited. In contrast to other stock exchanges in India, NSE was
established in November 1992 as a tax-paying corporation owing to the efforts of major financial
institutions responding to a request from the government. The Securities Contracts (Regulation)
Act, 1956 granted NSE permission to function as a stock exchange in April 1993, and by June
1994, NSE had started its Wholesale Debt Market (WDM). In November 1994, the Equity
(Capital Market) division began operations, and in June 2000, the Derivatives (Financial
Instruments) division did likewise.
Mission

The National Stock Exchange of India (NSE) was established to promote new developments in
the Indian stock market. The NSE was established for a number of reasons, including the
creation of a national trading facility for equities, debt instruments, and hybrids; the provision of
equal access to investors across the country via an appropriate communication network; the
provision of a fair, efficient, and transparent securities market to investors via electronic trading
systems; the creation of shorter settlement cycles and book entry settlements systems; and the
compliance with current international standards. All other exchanges now use NSE's tactics and
technological developments in the market as a yardstick against which their own performance
may be judged. NSE is a multifaceted organisation. This initiative is leading the corporate sector
to fascinating new horizons and opening up opportunities that have never existed before.

The NSE logo stands for a national securities exchange that is available to all buyers, sellers, and
issuers. The NSE logo contains the three initials of the Exchange's name. The logo alludes to the
role of cutting-edge information technology and worldwide communication through satellite in
bringing about change in the financial services industry. The logo signifies a corporation that
isn't scared to let its own creative juices flow in the face of change and new ideas.

PROMOTERS
BUSINESS ORGANIZATION

NSE was one of the first stock exchanges in the country to de-mutualize, meaning that Exchange
ownership and management are now independent of trading rights. It was sparked into being by
national officials, although it operates as a public limited company and is controlled by the most
prominent institutional investors in the country.
NSE has been a demutualized exchange from its creation, meaning that its ownership,
administration, and trading are all handled independently of one another. NSE is owned by
prominent banks, insurance companies, and other financial intermediaries, and it is managed by
professionals who do not participate in trading of any kind. This has completely eliminated any
potential for a conflict of interest and has enabled NSE to actively pursue policies and processes
within a public interest framework.

The NSE approach does not exclude or limit the involvement, assistance, or contribution of
trading members via any means. The Board is comprised of the Exchange's only full-time
employee, as well as public representatives and prominent professionals in the fields of law,
economics, accounting, finance, and taxation, as well as SEBI's nominees.The Board is
responsible for overarching policy choices, while the Board's several committees manage day-to-
day market operations. Management, experts, the general public, and traders all make up these
groupings. The Managing Director, with the help of a specialised staff, runs the day-to-day
business of the Exchange.
CONTROLLING BODY
COMMITTEES

Several advisory groups have been established by the Exchange to provide guidance on issues
such as market integrity, settlement, and risk management. These committees are made up of
experts in the subject, trading members, Exchange workers, and representatives from the agency
in charge of regulating the market.

Concerned Trade Officials' Committee

High-Level Management Group

• Advisory Committee to the Executive Committee on Listing of Securities

The purpose of this group is to oversee the running of the Exchange on a daily basis.
COMMITTEE ON TRADE ISSUES (COTI)
Equities

NSE opened its stocks market (Capital Market segment) on November 3, 1994, and within a year
it had become India's largest exchange.
From 1994–1995 to 2003–2004, the average daily turnover of stocks went from Rs.17 crores to
Rs.4,328 crores. NSE's stock trading volume was Rs.1,099,535 crores, or 68.60% of the total
Indian securities market, in the fiscal year 2003-2004.
The Equities section provides real-time quotes and information on the NSE equities market. The
listing of securities and the processes involved in purchasing and selling them are described in
depth, as are trading more.

BOMBAY STOCK MARKET

The Bombay Stock Exchange Limited is the oldest stock exchange in Asia. Founded in 1875
under the name "The Native Share & Stock Brokers Association," it is now more often referred
to by its initials, "BSE." The Government of India formally recognised it as the first stock
exchange in the nation under the Securities Contracts (Regulation) Act, 1956, in 1956. The
SENSEX, an index maintained by the Exchange, is widely watched because of its pivotal and
dominant position in the development of the Indian capital market. The Exchange was an AOP
until the Securities and Exchange Board of India (SEBI) released the BSE(Corporatisation and
Demutualisation) Scheme, 2015, at which point it became a demutualised and corporatised
company constituted according to the Companies Act, 1956.
Demutualization reduces the potential for and the likelihood of real conflicts of interest by
severing trade rights from ownership rights. The Exchange's Managing Director reports to the
Board of Directors, which is made up of successful businesses, Trading Member representatives,
and other industry leaders. The Board actively seeks participation from all appropriate market
intermediaries in order to maximise its effectiveness.

The Board of Directors sets the organization's general policies and delegated authorities.
Committees appointed by the Board deal with a broad variety of issues, while the Managing
Director and his or her skilled staff run the day-to-day business of the Exchange.
Located in 417 urban centres throughout India, the Exchange serves a sizable population. The
regulations and procedures of the Exchange were developed to guarantee honest dealings and
complete transparency. Since 2004, the total number of deals conducted on the Exchange has
gone rising annually.

The Exchange provides a transparent and hassle-free environment for trading stocks, bonds, and
derivatives. BSE's On Line Trading System (BOLT) is an in-house built proprietary system that
has been certified as meeting the requirements of BS 7799-2-2002. ISO 9001:2000 certification
has been attained by the Exchange's clearing and settlement and monitoring activities.

HERITAGE
To become the oldest exchange in Asia and the first exchange in India to get permanent
accreditation under the Securities Contract Regulation Act, 1956 is quite an accomplishment for
the Bombay Stock Exchange Limited (BSE), which opened its doors for business back in 1856.

Dalal Street hasn't always been linked to the BSE. Stock broker meetings were initially
conducted in the area around Horniman Circle and the Town Hall in the 1850s, under the shade
of banyan trees. Ten years later, at the corner of Meadows Street and Mahatma Gandhi Road, the
brokers found a new gathering site under the shade of banyan trees. The sheer number of brokers
resulted in a flood of relocations, and wherever they went, they overflowed onto the streets. In
1874, they found a permanent residence they were happy with. The new area was appropriately
named Dalal Street.

The development of India's stock exchanges is equally interesting. The Bombay Stock Exchange
(BSE) is the biggest exchange in India in terms of market capitalization and the number of
companies listed on the exchange. The Indian Securities Market has been around for a very long
time. Long before any formal legislation was approved, BSE had already crafted a
comprehensive set of Rules and Regulations for the Indian Capital Markets. The pamphlet also
included recommendations for improving India's financial markets once the nation gained
independence.
Almost certainly, not a single significant Indian firm has avoided relying on BSE for capital-
raising purposes.

The Bombay Stock Exchange (BSE) is essentially synonymous with India's financial markets.
The BSE SENSEX is the primary equity market index used to measure overall market
performance and economic and financial system stability. In many ways, BSE is ahead of the
curve and consistent with international standards. There is a lot of competition, yet it has
nevertheless set a few records.

Indian equity derivatives were the first in the world.

India was the pioneer in the use of the Free Float Index.
It was in India that the BSE Sensex Dollar Index was first released.
The "First Exchange-Enabled Internet Trading Platform in India" with Surveillance, Clearing,
and Settlement India Is the First Country to Achieve ISO Accreditation
Winner of the "Globally Most Innovative Trading System" award, the "BSE On-Line Trading
System" (BOLT) adheres to the BS7799-2: 2002 standard for information security management
systems.

In under 50 days, the world's first and only financial training facility went from open outcry to
electronic trading.
One of BSE's most noteworthy accomplishments is the Safe Investing in the Stock Market
investor awareness programme, which was disseminated through traditional and modern forms
of media. The BSE was also instrumental in advancing the Securities and Exchange Board of
India's initiative to improve the general public's familiarity with the securities market.

The Stock Exchange, Mumbai was renamed the BSE in 2002. Securities trading in India may
trace its origins back to the Bombay Stock Exchange (BSE). When the BSE Online trading
(BOLT) system launched in 1995, it completely automated trading, which had previously been
conducted in an open outcry format. In 1997, BOLT's national footprint expanded significantly.
The BSE's International Convention Hall was the site of the inaugural bell ringing ceremony in
the history of India's Capital Markets on February 18, 2002. During the ceremony, Bharti
Televentures Ltd. became publicly traded.

BSE is well-equipped to continue its work towards developing India's securities markets and
increasing India's prominence in global finance thanks to its significant experience in capital
market development.
India's premier stock exchange, a pioneer in the Indian securities market, has been in operation
for 125 years. The first 318 members of the "Bombay Stock Exchange Limited" paid a whopping
Re1 each to join in 1875.

The stock market in the nation has seen both boom and collapse since then. The journey through
the 20th century has not been without its bumps. Before the 1980s, there was no dependable
indicator for monitoring the ebb and flow of the Indian stock market. After its first publication in
1986, the Bombay Stock Exchange's (BSE) Stock Index immediately became widely used as a
stand-in for the whole Indian stock market.
The BSE-SENSEX is a "Market Capitalization-Weighted" index of 30 Indian stocks that was
created in 1986 to serve as a proxy for a selection of mature, financially secure companies
operating in India. The first BSE-SENSEX year was 1978-79. The index is widely reported on in
both domestic and international media outlets. The BSE-SENSEX index was developed using a
meticulous scientific method, and it undergoes frequent audits to maintain its precision. The
"Market Capitalization-Weighted" method is used for the construction of most major
international stock benchmarks.

The Indian stock market has seen phenomenal growth during the last decade. The stock market
saw a dramatic shift in the early 1990s, with many bull and bear markets occurring
simultaneously. There has been a similar fad in the 'TMT' sections of the Indian stock exchanges.
The BSE-SENSEX documented all of this information honestly and equitably. The BSE-
SENSEX may be used to follow the rise and fall of the Indian stock market.

After the introduction of the BSE-SENSEX in January 1989, the BSE National Index (Base:
1983-84 = 100) was released. The index included 100 equities from the five major stock markets
in India: Mumbai, Calcutta, Delhi, Ahmedabad, and Madras. Since its rebranding as the BSE-
100 Index on October 14, 1996, only BSE-listed stocks have had their valuations included into
the index.

To more accurately represent the greater number of companies listed, higher market
capitalization, and additional sector categories, the Exchange designed and debuted the BSE-200
and DOLLEX-200 index series on May 27, 1994. BSE has come a long way in meeting the
needs of different types of dealers and investors since then. The Exchange has been constantly
broadening and deepening its indexes to satisfy the need for more nuanced, sub-sector and
industry-specific benchmarks among market participants. The BSE-200 Index debuted in 1994,
followed by the BSE-500 Index and five sectoral indices in 1999. The number of BSE Indices
has increased to 13 since 2015 with the addition of the BSE TECk Index, the BSE-PSU Index,
and the DOLLEX-30.

The Exchange also updates the P/E ratio, P/B ratio, and dividend yield percentage of its major
indexes every day.
All BSE index values (except the Dollar version of indices) are reported every 15 seconds during
market hours via the BOLT system, the BSE website, and news wire agencies.
At the Exchange, a "Index Committee" reviews the BSE-Indices on a regular basis. The group is
in charge of establishing broad policy guidelines for the development and maintenance of all
BSE indices. The Index Cell at the Exchange is responsible for daily index maintenance as well
as the study and creation of new indices.
CONTROLLING BODY
MANAGEMENT TEAM

COMPANY PROFILE

concerning themYou may rely on us for a broad variety of financial services, and you can be
certain that we will always give you with reliable guidance, top-notch service, and cutting-edge
resources.
The ultimate objective of Vision India Infoline is to achieve the gold standard in terms of
trustworthiness and reputation.

The parent company, India Infoline Limited, and its subsidiaries offer a wide variety of financial
products and services, such as . India Infoline owns and operates the websites
www.indiainfoline.com and www.5paisa.com. The company's broad branch network consists of
596 sites in 345 different municipalities. There are more than 500,000 regular users.

Here at India Infoline, we're proud to introduce ourselves. There are two stock exchanges in
India: the National Stock Exchange (NSE) and the Stock Exchange of Mumbai (BSE), both of
which are members of India Infoline Limited. Its primary services include stock trading,
financial planning, and investment management. The NSE's Cash and Derivatives markets, as
well as the BSE's Cash market, are both accessible via the firm's brokerage services.

This company is a SEBI-approved Portfolio Manager that provides portfolio management

services to its clients. Depending on the client's risk appetite and desired rate of return, a variety
of investment strategies are available.

Company Name: India Infoline Media & Research Services Pvt. Ltd.
Provided content services are quite helpful for businesses in the brokerage, commodities, mutual
fund, and portfolio management industries. It licences its content to major media and financial
organisations in India and throughout the world. Their equities analysis has been called "Best of
the Web" and "...a must read for investors in Asia" by Forbes. Information from India Infoline is
available online, as well as via Bloomberg and other foreign news agencies.
Commodities Information Network of India.
In this sphere, you may find the services of India Infoline Commodities Pvt Limited. Brokering
commodities instead of stocks allows us to provide our customers a service that is counter-
cyclical because of our experience in the securities sector. We participate in the MCX, NCDEX,
and DGCX, the three most important commodities markets in India.
Advertising & PR by India Infoline India Infoline Marketing and Services Limited owns both
India Infoline Insurance Services Limited and India Infoline Insurance Brokers Limited.

In India (a), Infoline Insurance Services Limited has been granted Corporate Agent status by the
Insurance Regulatory and Development Authority (IRDA). This company is the largest
Corporate Agent for India's largest private life insurer, ICICI Prudential Life Insurance Co., Ltd.
Infoline, Limited (b) Insurance Brokers, India India Infoline Insurance Brokers Limited was
recently incorporated as a wholly-owned subsidiary for the express purpose of insurance
broking. We have applied to IRDA for an insurance broker licence and are expecting an answer.

Services for Investments in India Limited by Infoline

All of the lending and financing subcontractors' stock has been consolidated under one parent
firm. A Singaporean corporation named Orient Global has invested USD 76.7 million to get a
22.5% share of the Indian market. Investment Advice from Infoline Financial Services

INDIA INFOLINE HAS A VERY POPULAR MARKET POSITION, BUTIn terms of traffic,
INDIA INFOLINE is by and away India's most popular business and investment website. The
website was named one of Forbes' "Best of the Web" picks for Asia Investing.In addition to
providing current and thorough data on Indian businesses and industries, it is a leading
investment intermediary for Mutual Funds, Bonds, ICICI / IDBI Bonds, Govt. Relief Bonds,
Insurance, IPOs, and Fixed Deposits. RBI, UTI, LIC, GIC, ICICI, IDBI, HDFC, Alliance,
Prudential ICICI, Templeton, TATA, HSBC, Standard & Chartered, Sun F&C, Birla, DSP
Merrill Lynch, Kotak, IL&FS, Sundaram, Zurich, and Reliance are just a few of the major
financial institutions with whom India Infoline is a direct broker/agent.The company has 500
Investor points spread throughout all of India's major cities and is staffed by licenced investment
advisors and more than 1500 associates (sub brokers). In addition to providing fast, safe, and
straightforward stock trading, 5paisa.com also provides a plethora of other high-quality products
and services. Our combined online and offline presence puts us in an ideal position to serve our
customers exceptionally well.
India Infoline is a dynamic, growing firm with several openings for self-starters. The workplace
is constantly bustling with activity thanks to the team of young, vivacious, and competent
specialists that make up the team.

The marketing strategy of India, as shown on INFOLINE

We also promise your comfort" and "At India Infoline we give you a single window of service"
are two examples of the kinds of statements that India Infoline makes to position itself in the
market. With the aim of pleasing consumers who would prefer handle all of their financial needs
in one place, India Infoline provides a comprehensive variety of financial services. In addition to
buying and selling, India Infoline also provides demat services for your stocks, bonds,
debentures, etc. Mutual funds, insurance, fixed deposits, bonds, and other investment options are
just few of the many that can be found on India Infoline. Assuring its clients in this way is a
priority for India Infoline.

India as a Potential Market Infoline uses a demographic segmentation strategy that categorises
people into subsets based on their profession. When it comes to the market, India Infoline takes a
more targeted approach. The core audience for India Infoline Stock Broking and India Infoline
Investment Service are individuals interested in becoming sub-brokers for their respective
businesses. Insurance brokers, postal service consultants, CPAs, and tax attorneys are common
clients for sub-brokerage businesses.

India's Advertising Network There is just one level of sales and marketing for Infoline's
investment products. Sub-brokers facilitate communication between clients and the broker. In
terms of corporate communication, the channel is a two-way street. Stationery, brokerage
services, and data are all provided by the company to its sub-brokers. The main broker receives
information such as questions answered, investment amounts, and other data from the sub-
brokers.

India's Role in the "Learning Highway" Infoline provides training for sub-brokers since such
individuals will represent the company to investors. When India Infoline launches a new
investment programme, its executives inform its sub-brokers about the program's objectives,
risks, and possible rewards. Every quarter, the business hosts seminars designed to teach sub-
brokers new information.

The target audience for India Infoline's advertising campaign consists of potential investors and
sub-brokers for the firm's services.
Weekly, India Infoline releases the 'Market Mantra' Stock Market Newsletter.

CHAPTER-IV

DATA ANALYSIS
&
INTERPRITATION
INTERPRETATION

Capital requirements are summarised in Table No. 1.

Money Needed: For new high-tech companies to list on either the National Stock Exchange
(NSE) or the Bombay Stock Exchange (BSE), the minimum post-issue paid-up equity capital
should be Rs.5 Crores.

For newly founded high-tech enterprises, the minimum market capitalization required to list on
the Bombay Stock Exchange (BSE) is Rs.50 crore, while the minimum required to list on the
National Stock Exchange (NSE) is Rs.25 crore.

For listing on the NSE, earnings must have been distributable in at least two of the most recent
three fiscal years (an auditor's certificate is necessary in this regard), and for listing on the BSE,
profits must have been distributable for the previous three years.

On the New York Stock Exchange, the issuer's net worth must be positive, and the issuer's post-
issue net worth (equity capital + free reserves less revaluation reserve) must be at least Rs.20
crores.

Both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) require
applicants to have a history of dividend payments dating back at least two of the three fiscal
years prior to the year in which the listing application was submitted. The BSE also requires a
minimum dividend payment of 10 percent per year for the prior three years. (in cases when the
company or firms are already traded on another exchange).

To qualify for listing on the NSE, an application must have been traded on another major
exchange for at least the preceding three years; to qualify for listing on the BSE, a company must
have been traded on a regional exchange for at least the previous two years.
COMPARISON OF LISTING FEES
1. The best market available

Since the volume of trades on NSE keeps the impact cost low, investors may benefit from lower
trading costs. NSE's automated trading method ensures consistency and transparency in deal
matching, increasing the market's reputation among investors.
Secondly, exposure
When it comes to pre- and post-trade information, NSE's trading platform is unrivalled. The top
five buy and sell orders, as well as the maximum number of securities, are all shown by the
trading system. Understanding how far down the market goes is helpful for investors. Investors
may also get insight into the latest company happenings, financial reports, and more via the
trading platform.

Most Important Stock Exchange

NSE has more daily trade volume than any other exchange in the nation. In the fiscal year 2003–
2004, NSE's equity market transacted a total of Rs. 1,099,535 crores.

4. Out-of-the-Normal Impact
The NSE platform allows trading to take place throughout the country. Traders in 360 countries
and territories may use the NSE Trading Network. Access to the Exchange is instantaneous from
any location thanks to the utilisation of cutting-edge global connectivity infrastructure.

5. Modern infrastructure
NSE was the first Indian exchange to use completely automated screen-based trading. The
Exchange uses VSATs to connect more than 9,000 trading terminals to its high-tech
communications network.

6. The Tempo of the Transaction

Competitive pricing and greater market depth are made possible by the NSE's lightning-fast
order processing. The NSE's trading system processes over 8,000 orders per minute, on average.
There were 28,49,987 transactions on January 5, 2015.
7. More expedient payments
NSE has successfully handled over 1200 settlements to far.

Equipment for broadcasting commercial messages

The NSE network is a nationwide outlet for news and company announcements. The NEAT
System's Broadcast Mode and the NSE's website are utilised to disseminate market news and
other timely announcements. Financial statements, book closings, and announcements of bonus,
rights, takeovers, mergers, etc. are widely disseminated, leaving less possibility for price
manipulation or misuse.

Information on the trading volume of publicly traded companies,

The NSE provides monthly trade data to the corporation for all of its listed equities.

Ten. Investor-Serving Infrastructure

To better serve investors throughout the country, NSE has established a total of six investor-
service centres.

The minimal NSE listing charge is much lower than the BSE listing fee.
 CHAPTER-V

FINDINGS
SUGGESTIONS

CONCLUSION
FINDINGS

The following are the most important things I learned while performing the required research for
the task at hand: To be eligible for listing on the National Stock Exchange (NSE) or the Bombay
Stock Exchange (BSE), a company must have a paid-up capital of at least 10 crore.

Although the Bombay Stock Exchange has a greater market capitalization, a company may list
on the National Stock Exchange for far less money.

While the paperwork load is modest, keeping all of the data in the system current may be
challenging and time-consuming.

Most DPs lack the capabilities to handle a high number of transactions without making errors,
therefore providing them with full knowledge about the infrastructure helps avoid this problem.

The broker is paid dividends instead of the actual shareholders since the pool account has no way
of knowing who the shareholders are. The owner risks losing out on profits if the broker engages
in deceptive practises. When feasible, dividends should be sent straight to the shareholder's bank
account.
Shareholders risk losing their investment and having to reapply for fresh shares within 21 days if
a broker distributes counterfeit shares. Repairs to this system are urgently needed to stop future
abuse.

CONCLUSION

The National Stock Exchange outperforms the Bombay Stock Exchange in terms of daily
turnover. According to the data shown above, the National Stock Exchange stands head and
shoulders above its rivals when compared to key metrics including technology, listing prices, the
ease of listing, the breadth of companies that qualify for listing, and the stringency of listing
standards.
The Bombay Stock Exchange has considerable competitors despite its long history and high
volume of trading. Brokers, sub-brokers, trading companies, retail investors, and others all utilise
the Bombay Stock Exchange.
 BIBILIOGRAPHY

REFERENCE BOOKS
 Financial management : Philip Kotlar
 Research and Methodology : C.K. Kothari
 Direct Taxes : Dr. Vinod K. Singhania
&
: Dr. Kapil Singhania
NEWS PAPERS:
 Times of India
 Business Standard

JOURNALS
 JOURNAL ON INVESTMENT STRATEGY
 DALAL INVESTMENT JOURNAL
 AFFILIA
 AMERICAN JOURNAL

BOOKS
1. The Mindful Investor, by Maria Gonzalez and Graham Bayron.
2. Understanding Indian Investors, by Jawahar Lal.
3. Security Analysis and Portfolio Management by Punithavathi Pandian.
4. Investment Analysis and Portfolio Management, by Prasanna Chandra.

WEB SITES
www.tax4India.com
www.economictimes.Indiatimes.com
www.business-standard.com
www.Indiamoney.com
www.moneymanagementideas.com
www.savingwala.com