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SUMMER INTERNSHIP PROJECT
PROJECT REPORTON
CUSTOMER SATISFACTION TOWARDSSERVICES OF DEMAT ACCOUNT
OF INDIABULLS FINANCIAL LTD.
Undertaken at
INDIABULLS SECURITIES LTD.Submitted in partial fulfillment of PGDCRM program
2010-12
Submitted byName: Akhilesh kumar
Roll Number: 1001570004
Company Guide Faculty GuideName: Mr.Ankush Jain Name: Mr. Somesh SharmaDesignation: Relationship Manager Designation: Lecturer.
INVERTIS INSTITUTE OF MANAGEMENT STUDIES
BAREILLY
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ACKNOWLEDGMENT
The satiation and euphoria that accompany the successful completion of task would be
incomplete without the mention of the people who made it possible.
After all, success is the epitome of hard work, severance, un-deferred missionary, zeal,
steadfast determination and most of all encouraging guidance. So, with immense gratitude,
I acknowledge all those whose guidance and encouragement served as a “beacon light” and
crowned our efforts with success
I am highly thankful to my college, Apeejay School of Management, Dwarka and
Mr.Rajiv Madan, who helped me to get a corporate exposure before I go on to join a
corporate house.
I express my heartfelt thanks to Mr. Harsh Vardhan, Vice President, Indiabulls Securities
Ltd. who gave me an opportunity to work in such a prestigious organization. I am sure that
knowledge gained here will go a long way in enriching my career.
I also sincerely thank to Mr.Vishal Jaiswal, Relationship Manager who blessed this
endeavor with their enthusiastic, patient and unconditional support. I am thankful for his
unconditional support and encouragement throughout the project. The project could not
have been completed without their support and guidance.
I am also deeply indebted to my friends and other colleagues for their help in the
completion of work.
Lastly, I take this opportunity to thank all the entire senior executives and associates of
Indiabulls Securities Ltd., without their cooperation it would have been impossible to
complete this project.
Thank You
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CONTENTS
EXECUTIVE SUMMARY
CHAPTER 1 1.0 OBJECTIVES AND METHODOLOGY
1.1 Significance of the Study 8
1.2 Managerial Usefulness of the Study 8
1.3 Objectives 9
1.4 Scope of the Study 9
1.5 Methodology 10-11
CHAPTER 2 2.0 COMPANY PROFILE
2.1 Organizational Chart 14
2.2 Introduction 15-16
2.3 List of Current Charges 17
2.4 History 18
2.5 Growth Story 19-20
2.6 Indiabulls Core Strength 21
2.7 Management Team 21
2.8 List Of Products 22
2.9 Swot Analysis 23
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CHAPTER 3 3.0 Overview of Share Market
3.1 Introduction 25-27
3.2 About Demat Account 28
3.3 Benefits of Demat Account 28-30
3.4 Dematerialization Process 31
CHAPTER 4 4.0 On The Job Training
4.1 Objective 33
4.2 Target/Task Assigned 33
4.3 Strategies Applied 34
4.5 Achievements 34
4.6 Corporate Learnings 35
CHAPTER 5 5.1 DATA ANALYSIS AND INTERPRETATION
5.2 Data analysis & Interpretation 37-50
5.3 Hypothesis Testing 51-53
5.2 Findings 54
5.3Recommendations 55-56
5.4Limitations 57
CHAPTER 6 6.1 BIBLIOGRAPHY 58
CHAPTER 7 7.1 ANNEXURES
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7.2 Questionnaire 59-60
EXECUTIVE SUMMARY
The project has been carried out to have an overview of Customers satisfaction
towards “IndiaBulls securities Ltd.” services and to understand investor’s
perception about Share market in the context of their trading preference,
explore investor’s risk perception & find out their preference over Top Equity
funds.
The methodology used was data collection using Schedule.
Secondary data was collected from Internet and Books . Primary Data was
collected through survey among existing clients . The procedure adopted to
select sample was simple random sampling
The research design is analytical in nature. A
questionnaire was prepared and distributed to Investors. The
investor’s profile is based on the results of a questionnaire that the
Investors completed. The Sample consists of 100 investors from
various broker’s premises. The target customers were Investors who
are trading in the stock market. The area of survey was restricted to
people residing in DELHI.
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INTRODUCTION
OF
INDIABULLS
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INDIABULLS GROUP
Indiabulls Group is one of the country's leading business houses with business
interests in Power, Financial Services, Real Estate and Infrastructure. Indiabulls
Group companies are listed in Indian and overseas financial markets. The Net
worth of the Group is Rs 16,844 Crore and the total planned capital expenditure of
the Group by 2013-14 is Rs 35,000 Crore.
Indiabulls Power is currently developing Thermal Power Projects with an
aggregate capacity of 5400 MW. The first unit is expected to go on stream in May
2012. The net worth of Indiabulls Power is Rs 3,919 Crore. The company has a
total capital expenditure of Rs 27,500 Crore. The company has been assigned
'BBB' rating.
Indiabulls Financial Services is one of India’s leading non-banking finance
companies providing Home Loans, Commercial Vehicle Loans and Secured SME
Loans. The company has a net worth of Rs 4,661 crore with an asset book of Rs
20,788 Crore. The company has disbursed loans over Rs 50,000 Crore to over
3,00,000 customers till date. Amongst its financial services and banking peers,
Indiabulls Financial Services ranks amongst the top few companies both in terms
of net worth and capital adequacy. Indiabulls Financial Services has been assigned
‘AA+’ rating and has presence in over 87 cities and towns with a total branch
network of 170 branches.
Indiabulls Securities is one of India's leading capital markets companies providing
securities broking and advisory services. Indiabulls Securities also provides
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depository services, equity research services and IPO distribution to its clients and
offers commodities trading through a separate company. These services are
provided both through on-line and off-line distribution channels. Indiabulls
Securities is a pioneer of on-line securities trading in India. Indiabulls Securities’ in-
house trading platform is one of the fastest and most efficient trading platforms in
the country. Indiabulls Securities has been assigned the highest rating BQ-1 by
CRISIL.
Chairman's Desk
Sameer Gehlaut
Chairman, Indiabulls Group
Sameer Gehlaut has been the chairman of Indiabulls Group
since inception. He is also the chairman of major Indiabulls
companies: Indiabulls Power, Indiabulls Financial Services &
Indiabulls Real Estate. Under his leadership, Indiabulls Group
has grown in scale and size to a business house with strong
businesses in various sectors.
Mr Gehlaut started Indiabulls Group after working briefly with
Halliburton before returning to India. Mr Gehlaut received a
B.Tech degree in Mechanical Engineering from Indian
Institute of Technology, Delhi.
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MANAGEMENT TEAM
Indiabulls Group
Mr Rajiv Rattan - Vice Chairman
Mr Saurabh Mittal - Vice Chairman
Mr Gagan Banga - Group Spokesperson
Mr Ashok Kacker - Group President
Mr Saket Bahuguna - Group CLO
Mr Ashok Sharma - Group CFO
Mr Ajit Mittal - Group Director
Mr Gurbans Singh - Group Director
Mr Tejinderpal Singh Miglani - Group CIO
Indiabulls Financial Services Limited
Mr Gagan Banga - CEO
Mr Ashwini Kumar Hooda - DMD
Indiabulls Real Estate Limited
Mr Vipul Bansal - CEO
Mr Narendra Gehlaut - Joint MD
Mr O P Agrawal- COO
Indiabulls Power Limited
Mr Ranjit Gupta - CEO
Mr Mehul Johnson - President
Indiabulls Securities Limited
Mr Divyesh Shah - CEO10
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Mr Vijay Babbar - DMD
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COMPANY PROFILE
Name: Indiabulls Securities Ltd.
Founded by: Sameer gehlaut with two fellow engineering graduates Rajiv
Ratan & Saurav Mittal.
Established in: May 2000
Head Office : F-60, Malhotra Building, 2nd Floor, Connaught Place, New
Delhi - 110001, Delhi
Chairman: Mr. Sameer Gehlaut
Chief Executive Officer: Mr. Devesh Shah
Chief Compliance Officer: Mr. Ashok Sharma
Designated Directors: Mr.Gagan Banga & Mr.Rajiv Rattan
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ORGANISATIONAL CHART OF INDIABULLS
SECURITIES LTD.
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CEO(Devesh Shah)
ONLINE OFFLINE
Executive Vice President
Mr. Vijay Babbar(Rajasthan,Gujrat &
north)
Mr. Amiteshwar(South & Mumbai)
Mr.Prasanjit(kolkata &
Bhuvneshwar)
Vice President
Assistant Vice President
Relationship Manager
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About Indiabulls Securities Ltd.
Operations
Indiabulls Securities Ltd (Indiabulls) is a 100%Subsidiary of Indiabulls
Financial Services Ltd, which isOne of the leading financial and real estate
services firm.
Indiabulls Financial Services Ltd is listed on the National Stock Exchange,
Bombay Stock Exchange and Luxembourg Stock Exchange and is part of the
Indiabulls Group (other listed group companies are Indiabulls Real Estate
Limited and Indiabulls Securities Limited).. It provides a wide range of
products and services in securities Trading such as research, Internet trading,
IPO’s, Depository services etc. Indiabulls is also a depository participant with
the NSDL and CDSL for trading and Settlement of dematerialized shares. The
company Functions through a wide network of 475 branches which are spread
over 192 cities. It has an in-house broking back office and also offers internet
based share trading to its customers.
The company also provides an integrated trading, depository and bank account
enabling customers to trade from anywhere across the globe. The other
businesses of Indiabulls include Indiabulls Credit Services Ltd, Indiabulls
Housing Finance Ltd, Indiabull Real Estate Ltd. As of Dec 2006, Indiabulls’
turnover in NSE FO was Rs 23.9 mn, NSE Cash was Rs 7.6 mn and BSE Cash
was 1.13 mn.
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REACH & ACCESS
No. Of Employees: 8922
No. Of Branches: 475
No. Of Cities/Towns: 192
MEMBERSHIP
Cash Market: NSE BSE
Derivatives: NSE BSE
Debt: NSE
Commodities: MCX NCDEX
NUMBER OF TERMINALS
Total 2700
MAJOR CITIES
Mumbai 17
Delhi 31
Kolkata 8
Chennai 6
Ahmedabad 6
OTHER CITIES 105
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CLEARING BANK
HDFC Bank, ICICI Bank,Axis Bank & IDBI Bank
Equity & Derivatives Brokerage
Indiabulls provides end-to-end equity solutions to institutional and individual
investors. Consistent delivery of high quality advice on individual stocks,
sector trends and investment strategy has established us a competent and
reliable research unit across the country.
Clients can trade through us online on BSE and NSE for both equities and
derivatives. They are supported by dedicated sales & trading teams in our
trading desks across the country. Research and investment ideas can be
accessed by clients either through their designated dealers, email, web or
SMS.
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List Of Charges
Type of
Trade
Brrokrage Service
Tax
Security
Transaction
Tax
Other
Levies
Total
Transaction
Charges
Stamp
duty
Charged
on
Traded
Volume
Charged
on
Brokrage
Charged on
Total
Volume
Charged
on Total
Volume
(Buy/Sell)
Charged
on Total
Turnover
Delivery 0.50% 12.24% 0.125% NA 0.018% Re. 1 per
Rs.
10,000
Future 0.10% 12.24% 0.017%
only on
selling
0.006% NA 20 Paisa
per Rs.
10,000
Intraday 0.10% 12.24% 0.025 only
on selling
NA 0.018% Re. 1 per
Rs.
10,000
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Option 0.10% 12.24% 0.017%
only on
selling
0.006% NA 20 Paisa
per Rs.
10,000
Annual Maintenance Charges Zero
A/c Opening Charges Rs. 900(1 Time Charges Only)
Period To open a new Account 5 Working Days
Software Web Browser based Terminal
(Free of cost)
Power Indiabulls (Rs. 750 -1 time
Charges)
Exposure 12 Times on Intraday
2 Times on Cash/Delivery (on 1
lack turnover )
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History Of Indiabulls Securities Ltd.
Indiabulls is India's leading financial services. Chairman Sameer Gehlaut
(previously with Halliburton, an oil company) started Indiabulls in May 2000
as an online stock brokerage with two fellow engineering graduates from the
Indian Institute of Technology, Delhi (Rajiv Rattan, COO (previously with
Schlumberger (also an oil company) and Saurabh Mittal, Director.
Sameer Gehlaut, Rajiv Rattan and Saurabh Mittal started Indiabulls Group by
acquiring a minor brokerage company, Orbis Securities, in 1999. The group
started it business as a stock-brokerage firm and pioneered online brokerage
business in India before diversifying into other financial services areas such as
consumer credit (2004) and mortgages (2005). The group partnered with
Farallon Capital to purchase land-mark bombay land assets and is currently
building one of the largest integrated commercial real estate projects in India
(valued at more than $2 billion). The group recently entered the Power
generation business and aims to have more than 5000 MW of power
generation under construction before 2008 end.
The three founders today control the Indiabulls Group and own more than
$2,000 million worth of stock. Sameer Gehlaut was recently listed in the
Forbes Billionaires 2008 list, and Saurabh Mittal and Rajiv Rattan are each
worth more than $500 million.19
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Growth story
2000-01
Indiabulls Financial Services Ltd. established India’s one of the first trading
platforms with the development of an in house team.
2001-03
Indiabulls expands its service offerings to include Equity, F&O, Wholesale
Debt, Mutual fund, IPO distribution and Equity Research.
2003-04
Indiabulls ventured into Insurance distribution and commodities trading.
Company focused on brand building and franchise model.
2004-05
Indiabulls came out with its initial public offer (IPO) in September 2004.
Indiabulls started its consumer finance business. Indiabulls entered the Indian
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Real Estate market and became the first company to bring FDI in Indian Real
Estate. Indiabulls won bids for landmark properties in Mumbai.
2005-06
Indiabulls has acquired over 115 acres (0.47 km²) of land in Sonepat for
residential home site development.
Merrill Lynch and Goldman sac, one of the renowned investment banks in the
world have increased their shareholding in Indiabulls.
Indiabulls is a market leader in securities brokerage industry, With around
31% share in online trading, Farallon Capital and its affiliates, the world’s
largest hedge fund committed Rs. 2000 million for Indiabulls subsidiaries Viz.
Indiabulls Credit Services Ltd. and Indiabulls Housing Finance Ltd.
Steel Tycoon Mr. LN Mittal promoted LNM India Internet venture Ltd.
acquired 8.2% stake in Indiabulls Credit Services Ltd.
2006-07
Indiabulls entered in a 50/50 joint venture with DLF, Kenneth Builders &
Developers (KBD). KBD has acquired 35.8 acres of land from Delhi
Development Authority through a competitive bidding process for Rs 450
crore to develop residential apartments.
Indiabulls Financial Services Ltd. is included in the prestigious Morgan
Stanley Capital International Index (MSCI). Farallon Capital has agreed to
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invest Rs. 6,440 million in Indiabulls Financial Sevices Ltd. Indiabulls
ventured into commodity brokerage business.Indiabulls has received an “in
principle approval” from Government of India for development of multi
product SEZ in the state of Maharashtra.Dev Property Development plc., has
subscribed to new shares and has also acquired a minority shareholding from
the Company.Indiabulls Financial Services Ltd. Board resolves to
Amalgamate Indiabulls Credit Services Limited and demerge Indiabulls
Securities Limited.
2008
The group recently entered the Power generation business and aims to have
more than 5000 MW of power generation under construction before 2008 end.
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India Bulls Core Strengths
Breadth of Services
In line with its client-centric philosophy, the firm offers to its clients the entire
spectrum of financial services ranging from brokerage services in equities and
commodities, distribution of mutual funds, IPO’s and insurance products, real
estate, Mortgages and corporate finance.
Clients deal with a relationship manager who leverages and brings together the
product specialists from across the firm to create an optimum solution to the
client needs.
Management Team
Indiabulls brings together a highly professional core management team that
comprises of individuals with extensive business as well as industry
experience.
In-Depth Research
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Indiabulls research expertise is at the core of the value proposition that we
offer to our clients. Research teams across the firm continuously track various
markets and products. The aim is however common - to go far deeper than
others, to deliver incisive insights and ideas and be accountable for results.
MANAGEMENT
Chief Executive Officer
Devesh Shah
Chief Compliance Officer
Ashok Sharma
Designated Directors
Gagan Banga, Rajiv Rattan
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LIST OF PRODUCTS:
Demat Accounts
Derivatives (F&O)
NCDEX – Commodities Trading
Intial Public Offers (IPO”S)
Trading Account
Insurance
Real estate
Corporate Finance
Mortgage
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SWOT ANALYSIS OF Indiabulls Securities Ltd.
STRENGTHS:
Cost effective (No AMC)
Technology: Provide Power
Indiabulls Software.
Compliance: Very sign secure.
Provide Relationship manager
Smooth Fund Transfer
Transparency: Order from
Customers on recording lines
WEAKNESSES:
Web browser is not so effective.
High Account Opening Charges.
High Brokerage
Not very much beneficial for small
trader
OPPORTUNITIES:
Entry of Foreign Players::
THREATS:
Low Product Differentiation Proves
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New forms of trading including
T+2 settlement system,
dematerialization etc are
strengthening the retail
brokerage market and attracting
foreign companies to enter the
Indian industry.
Lack of Expertise Curtails
Bargaining Power
Retail investors often lack the
knowledge and expertise in the
financial sector that calls them
to approach the broking houses.
Beneficial::
The retail broking services provided
by the various companies is
homogeneous with very low product
differentiation. This allows customers
to enjoy a greater bargaining power.
Various foreign banks like ABN
Amro and others are planning to enter
the Indian retail brokerage industry.
Alternative Investment Options
Various alternative forms of
investment including fixed deposits
with banks and post offices etc act as
substitutes to retail broking products
and services.
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INTRODUCTION
A Stock Exchange is a place that provides facilities to stockbrokers to trade
company stocks and other securities. A stock may be bought or sold only if it
is listed on an exchange. Thus it is the meeting place of the stock buyers and
sellers. India's premier Stock Exchanges are the Bombay Stock Exchange and
the National Stock Exchange.
Stock market milestones
1875 BSE established as 'the native Share and Stock Brokers Association'
1956 BSE became the first stock exchange to be recognized under the
Securities Contract Act.
1993 NSE recognized as a stock exchange.
2000 Commencement of Internet trading at NSE.
2000 NSE commences derivatives trading (Index futures)
2001 BSE commences derivatives trading
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Bombay Stock exchange
The Bombay Stock Exchange Limited (Mumbaī Śeyar Bājār) (formerly, The
Stock Exchange, Mumbai; popularly called The Bombay Stock Exchange, or
BSE) is the oldest stock exchange in Asia. It is also the biggest stock exchange
in the world in terms of listed companies with 4,800 listed companies as of
August 2007.[1] It is located at Dalal Street, Mumbai, India. On 31 December
2007, the equity market capitalization of the companies listed on the BSE was
US$ 1.79 trillion, making it the largest stock exchange in South Asia and the
tenth largest in the world.
The Bombay Stock Exchange was established in 1875. Around 4,800 Indian
companies list on the stock exchange,and it has a significant trading volume.
The BSE SENSEX (SENSitive indEX), also called the "BSE 30", is a widely
used market index in India and Asia. Though many other exchanges exist,
BSE and the National Stock Exchange of India account for most of the trading
in shares in India.
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National Stock Exchange
The National Stock Exchange of India Limited (NSE), is a Mumbai-based
stock exchange. It is the largest stock exchange in India in terms of daily
turnover and number of trades, for both equities and derivative trading..
Though a number of other exchanges exist, NSE and the Bombay Stock
Exchange are the two most significant stock exchanges in India, and between
them are responsible for the vast majority of share transactions. The NSE's key
index is the S&P CNX Nifty, known as the Nifty, an index of fifty major
stocks weighted by market capitalisation.
NSE is mutually-owned by a set of leading financial institutions, banks,
insurance companies and other financial intermediaries in India but its
ownership and management operate as separate entities. As of 2006, the NSE
VSAT terminals, 2799 in total, cover more than 1500 cities across India . In
October 2007, the equity market capitalization of the companies listed on the
NSE was US$ 1.46 trillion, making it the second largest stock exchange in
South Asia. NSE is the third largest Stock Exchange in the world in terms of
the number of trades in equities.It is the second fastest growing stock
exchange in the world with a recorded growth of 16.6%.
There are two ways for investors to get shares from the primary and
secondary markets. In primary markets, securities are bought by way of
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public issue directly from the company. In Secondary market share are
traded between two investors.
Primary and Secondary Markets
Primary Market
An Issuer/Company enters the Primary markets to raise capital. They issues
new securities in Exchange for cash from an investor (buyer). If the Issuer is
selling securities for the first time, these are referred to as Initial Public
Offers (IPO's). Summing up, Primary Market is the means by which
companies float shares to the general public in an Initial Public Offering to
raise capital.
Eg. If the promoters of a private company, say XYZ makes its shares available
to investors, company XYZ is said to have entered the primary market.
Secondary Markets
Once new securities have been sold in the Primary Market, an efficient
mechanism must exist for their resale, if investors are to view securities as
attractive opportunities. Secondary Market transactions are referred to those
transactions where one investor buys shares from another investor at the
prevailing market price or at whatever price both the buyer and seller agree
upon. The Secondary Market or the Stock Exchanges are regulated by the
regulatory authority. In India, the Secondary and Primary Markets are
governed by the Security and Exchange
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DEMAT ACCOUNT
Demat refers to a dematerialised account. Just as you have to open an account
with a bank if you want to save your money, make cheque payments etc, you
need to open a demat account if you want to buy or sell stocks. So it is just
like a bank account where actual money is replaced by shares. You have to
approach the DPs (remember, they are like bank branches), to open your
demat account.
Let's say your portfolio of shares looks like this: 40 of Infosys , 25 of Wipro,
45 of HLL and 100 of ACC. All these will show in your demat account. So
you don't have to possess any physical certificates showing that you own these
shares. They are all held electronically in your account. As you buy and sell
the shares, they are adjusted in your account.
Just like a bank passbook or statement, the DP will provide you with periodic
statements of holdings and transactions.
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What's the difference between a depository and a depository participant?
A depository is a place where the stocks of investors are held in electronic
form.
The depository has agents who are called depository participants (DPs). Think
of it like a bank. The head office where all the technology rests and details of
all accounts held is like the depository. And the DPs are the branches that
cater to individuals.
There are only two depositories in India -- the National Securities Depository
Ltd (NSDL) and the Central Depository Services Ltd (CDSL). There are over
a 100 DPs.
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Benefits of Demat Account
A safe and convenient way of holding securities (equity and debt
instruments both).
Transactions involving physical securities are costlier than those
involving dematerialised securities (just like the transactions through a
bank teller are costlier than ATM transactions). Therefore, charges
applicable to an investor are lesser for each transaction.
Securities can be transferred at an instruction immediately.
Increased liquidity, as securities can be sold at any time during the
trading hours (between 9:55 AM to 3:30 PM on all working days), and
payment can be received in a very short period of time.
No stamp duty charges.
Risks like forgery, thefts, bad delivery, delays in transfer etc, associated
with physical certificates, are eliminated.
Pledging of securities in a short period of time.
Reduced paper work and transaction cost.
Odd-lot shares can also be traded (can be even 1 share).
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Nomination facility available.
Any change in address or bank account details can be electronically
intimated to all companies in which investor holds any securities,
without having to inform each of them separately.
The DP itself, so no need to correspond with the companies, transfers
securities.
Shares arising out of bonus, split, consolidation, merger etc. are
automatically credited into the demat account of the investor.
Shares allotted in public issues are directly credited into demat account
of the applicants in quick time
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Opening a Demat Account
To start dealing in securities in electronic form, one needs to open a demat
account with a DP of his choice. An investor already having shares in physical
form should ensure that he gets the account opened in the same set of names
as appearing on the share certificate; otherwise a new account can be opened
in any desired pattern by the investor.
Getting started
1. Choose a DP
2. Fill up an account opening form provided by DP, and sign an agreement
with DP in a standard format prescribed by the depository.
3. DP provides the investor with a copy of the agreement and schedule of
charges for his future reference.
4. DP opens the account and provides the investor with a unique account
number, also known as Beneficiary Owner Identification Number (BO
ID).
Documents to be attached
1. Passport size photographs
2. Proof of residence (POR) - Any one of Photo Ration Card with DOB /
Photo Driving License with DOB / Passport copy / Electricity bill /
Telephone bill
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3. Proof of identity (POI) - Any one of Passport copy / Photo Driving
License with DOB / Voters ID Card / PAN Card / Photo Ration Card
with DOB
4. PAN card
NOTE:-
The agreement required to be signed by the investor details the rights and
duties of the investor and DP.
DP may revise the charges by giving a 30 days prior notice. SEBI has
rationalized the cost structure for isation by removing account-opening
charges, transaction charges for credit of securities and custody charges,
effective from January 28, 2005.
Maximum Number of holders in a Demat Account
A maximum of three persons are allowed to open a joint demat account in
their names.
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Dematerialization Process
An investor having securities in physical form must get them dematerialized,
if he intends to sell them. This requires the investor to fill a Demat Request
Form (DRF), which is available with every DP, and submit the same along
with the physical certificates. Every security has an ISIN (International
Securities Identification Number). If there is more than one security than the
equal number of DRFs has to be filled in. The whole process goes on in the
following manner:
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INDIABULLS
FINANCIAL
SERVICES
LTD.
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Overview
Indiabulls Financial Services Ltd, one of India's leading non-banking financial companies
(NBFCs) is leading provider of lending and other financial products including home loans,
loans against property, commercial vehicle loans, and commercial credit to prime
corporates.
Indiabulls Housing Finance Ltd, a SARFAESI notified Housing Finance Company is a
wholly owned subsidiary of Indiabulls Financial Services Ltd; provides competitively
priced home loans to both self employed & salaried segment clients.
With dedication to serve the customers at maximum possible locations, Indiabulls Financial
Services has a wide network of 170 branches spread over 87 cities across India. Indiabulls
Housing Finance has one of the fastest Home Loan delivery systems in India. Easy &
convenient online access of Indiabulls’ Home Loan account saves time, efforts & money
wasted in visiting offices of home loan providers for every single query or requirement. All
the security measures for online account access are taken care of at Indiabulls Housing
Finance.
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Indiabulls Home Loans is emerging as the most preferred brand in housing finance.
Indiabulls Financial Services has over 3,00,000 satisfied customers & cumulative
disbursements of loan amount over Rs.50,000 Cr. Indiabulls believes in forging a deep
personal bond with each of its valued customers. At Indiabulls Housing Finance, Customer
care is of utmost importance. At Indiabulls all the customers feel privileged as they get
guidance in all aspects of home buying such as selecting the suitable property, checking
approvals of the project, filing documents, registration of the property, choosing EMI &
tenure of their loan to accommodate their financial resources etc. Indiabulls team always
tries to help customers even going beyond the call of duty.
Indiabulls Financial Services enjoys AA+ rating and has one of the lowest leverage and
highest net worth among the peer group. Indiabulls has very stable long term financing
from leading Indian and international banks and financial institutions.
Indiabulls is serving its customers over a decade with passion & commitment.
Indiabulls Financial Services Limited
Mr Gagan Banga - CEO Mr Ashwini Kumar Hooda - DMD
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INDIABULLS
REAL ESTATE
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OVERVIEW
Indiabulls Real Estate is one of the largest real estate company in India with
development projects spread across high-end office and commercial complexes,
premium residential developments, mega townships, retail spaces, hotel and
resorts, state of the art special economic zones and infrastructure development. It
has 31 ongoing projects totaling 61 million square feet, 2551 acres of SEZ
development and additional land bank of 580 acres. Each project bears a stamp of
thoughtful solutions and highest quality. The company has partnered with
specialists from India and abroad working on various aspects including design,
landscaping, engineering and structural strength of each of the developments.
It further employs most advanced construction equipments and technologies that
guarantees on time delivery like advanced jump start technology, advanced
logistics and vertical transportation systems, wind tunnel engineering as also
international quality construction grade steel and the highest strength M70 and
M80 concrete. The company has more than 90% of its portfolio in Mumbai, Delhi
(NCR) and Chennai markets with $ 900 million of land bought through government
auctions. The main focus of Indiabulls Real Estate is construction and development
of properties, project management, investment advisory and construction services.
Indiabulls Real Estate has delivered a record 3.3 million sq ft developed space
valued at $ 1.75 billion (within 4 years of inception). This is fastest and largest
delivery in value terms by any Indian real estate developer in the same time period.
It has partnered with Farallon Capital Management LLC of USA to bring the first
FDI into real estate in the country, is listed on the Mumbai, Luxembourg and
Singapore Stock Exchange and has been assigned 'A+' rating.45
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Indiabulls Real Estate Limited
Mr Vipul Bansal - CEO
Mr Narendra Gehlaut - Joint MD
Mr O P Agrawal- COO
Indiabulls Power Limited
Mr Ranjit Gupta - CEO
Mr Mehul Johnson - President
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ON THE JOB TRAINING
Title
To generate leads by telecalling & by personal meetings and to close the deal
along with the handling of the customer’s queries regarding share trading,
account opening and maintenance, software installation and demonstration .
Objectives
To create awareness among the people about the different products
offered by the company in the market through telecalling.
To generate leads for open demat accounts.
To accompany the ‘relationship manager’ on his visits to the
prospective clients.
To learn how to work in a team.
To acquaint myself with the work culture.
To understand the operating terminals of equity market.
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To learn the trading procedures of equity market.
Target/Task
Overall Target: To generate business and gain experience in the tenure
of two months of summer internship project.
Strategy
To achieve a goal successfully one needs to sketch a perfect roadmap or
strategy to the destination and also need to follow the path strictly. The
strategies applied to achieve the above mentioned targets are –
1 Hunt for prospective customers through following Marketing Strategies:-
Telecalling
Personal Visits
Clients References
Database provided by the company, yellow pages or internet.
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Achievements
Applauded for managing the task of Account Opening efficiently.
.
Opened 10 D-Mat and Trading Accounts which is an achievement.
To know how to handle the grievances of customers.
LIMITATION
Being a service industry , the quality is main concern in differentiation
and it is not exactly miserable
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CONCLUSIONS
In a nutshell, I have learned various practical aspects of trading in the
stock market.
I have made about 100-150 calls per day in the initial days of training so
as to generate maximum leads.
I handled the queries of both the new & existing clients of the company
pertaining to different issues like opening of accounts, trading
procedures etc.
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CORPORATE LEARNINGS
To be a part of Indiabulls was the best opportunity for me to had:
A practical exposure of Financial world.
Independently handling of clients.
Came to know the practical problems of clients.
Learnt the work done at front office.
Learnt corporate culture.
Learnt software used by company.
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OBJECTIVES AND
METHODOLOGY
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OBJECTIVES AND METHODOLOGY
Significance:
Significance of the project is to find out customers satisfaction regarding the
demat account and also to provide key information about the investor’s
perception.
Managerial Usefulness of Study:
The study also highlights the area where the Company needs
improvements.
The study provides the complete information about all close competitors
in Share Market.
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It provides a feedback from customers regarding their problems and
perception about investing in Share Market so that they can improve
their services
Objectives:
To study the Share Market industry in detail
To study the Level of customer satisfaction towards the
services of Indiabulls.
To find out the causes of dissatisfaction of customers of
Indiabulls.
To study the Investment procedure in Share Market
To study the Accounting and Valuation methods of Share
Market
To study in brief various product & Services promoted by
Indiabulls.
Scope of the Study:
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To look out for new prospective customers who are willing to invest in
Share Market.
Methodology:
RESEARCH METHODOLOGY
I decided to do the project in two parts. The first part of the project is
comprised of the study of share market as a whole and the second part deals
with the customers satisfaction regarding the demat account.
The first part of the project i.e. descriptive study is comprising an
overall study of share market as what it is ,why to invest and where to invest,
risk factor associated with it ie, an overview of whole Share Market industry.
The second part of the project that is related to customers satisfaction
regarding the demat account of Indiabulls. Indian Stock market has
undergone tremendous changes over the years. Investment in Share Market
has become a major alternative among Investors. The project has been carried
out to understand customers satisfaction regarding the demat account of
Indiabulls in the context of their trading preference and explore investor’s
risk perception .
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The first part of the project relating the study of Share Market is collected
through secondary data obtained from internet & books whereas the second
part relating the customers satisfaction regarding the demat account of
Indiabulls is covered using primary data.
SOURCE OF DATA COLLECTION
Both Primary and Secondary data are required
Primary data is the first hand information collected directly from the
respondents . The tool used here is questionnaire. Primary Data is collected
through survey among existing clients
Secondary data is collected through internet, books
SAMPLE SIZE
The sample chosen is through random sampling. The questionnaire has
presented to the respondent in the city of Delhi. The overall sample size is
100.
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ANALYSIS OF DATA
The data is collected with the help of questionnaire designed.
Respondents were given adequate time to answer. The data is collected
from 100 respondents.
Analysis is carried out by means of various processing operations-
Editing- The collected data is examined to detect errors and omissions.
It involved a careful scrutiny of completed questionnaire. It is done to
ensure that the data was consistent, accurate and uniformly entered.
Coding - Coding is necessary for efficient analysis and through it
several replies are reduced to a small number of classes, which
contained the critical information required for analysis.
Tabulation- The process of summarizing the raw data and displaying
the same in compact form is called tabulation.
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Analysis Instruments:
EXEL-
With the help of the EXEL the result has shown in the form of tables
and graphs. The answer to all the objectives were achieved and
presented in graphical form. The graphs facilitate relative comparisons.
SPSS SOFTWARE-
For the analysis of the data collected, SPSS software is used, which is
helpful in analyzing the impact of one variable on the other. Besides, it
also showed frequencies, average performances etc. This software helps
to prove the various hypotheses.
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1.How Often Do customers Trade
DAILY WEEKLY MONTHLY OCCASIONALY
10% 20% 45% 25%
Interpretation:- As we can see from the above diagram that different type
of customer trade differently like daily, weekly, monthly and occasionally.
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But there is a great degree of variability between their trading. As near
half of the respondents (45%) trade monthly, 25%of the respondents
trade occasionally, 20% weekly and the respondents who trade daily are
the lowest with 10%.The reason why less no. of people trade daily is the
bearish market.
2. Duration trading with Indiabulls
Up to 6 Months 6 months To
1 year
1 Year To 2 Year More Than 2
Years
6% 33% 28% 33%
Interpretation: As it is clear from the above mentioned data that there
are the respondents who are trading with the company from 6 month to
more than 3 years but there degree is different respondents (6%)who
deals with the company having a duration of 6 month are less because of
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falling of share market from the January 2008,now share market has
become less attractive segment for investing as compare to the other
source of investment. Respondents who are dealing with company from
1 year is having a good %i.e.32%the reason could be here the sharp
increase in the sensex in those days .
3. Satisfaction level of customers
Satisfied Partially Satisfied Not Satisfied
54% 16% 30%
Interpretation: A satisfied customer is key of the success of any business
so it is very essential for the long-term survival of the business that its
customer is satisfied. From the above mentioned data it is clear that the 54%
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clients are satisfied with the services of Indiabulls, 16% clients are partially
satisfied and remaining 30% are not satisfied from the company. So company
should try to retain its satisfied customer and should try to attract its
dissatisfied customer.
4. Know relationship manager
Yes No
66% 34%
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Interpretation: Among 100 customers 66% clients know his Relationship
Manager and have a contact with his/her relationship Manager rest 34%
doesn’t even know about his/her Relationship Manager means they are not in
touch with company (Indiabulls) and switching to other brokrage firms due to
non guidance from relationship manager.
5.Customer having Demat Account in more than 1 company
Yes No
24% 76%
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Interpretation: On the basis of the survey done it is found out that a large
number of the respondents are having Demat Account in more than 1
company. In the above data given it is clear that among the customer of
Indiabulls 24% are having account in more than 1 company.
6.Preference of company in terms of services
Indiabulls Securities
Ltd.
Other Firms
14 10
% 58.33 41.77
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Interpretation: From the last question we get to know that a good
percentage of respondents are having demat account in more than 1 company.
24% customers also having a/c except Indiabulls Securities Ltd. Among them
14 Customers (58%) prefer Indiabulls Securities Ltd. Than other firms and rest
10 Customers (42%) like or prefer other firms than Indiabulls.
7. Reasons For Opting Indiabulls
Employee’s
Knowledge
Emplyoee’s
Behavior
Customer
Service
Technology
6 4 2 2
% 43% 29% 14% 14%
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Interpretation: Out of 24, 14 Customers prefer Indiabulls, 6(43%) because of
Employee’s Knowledge, 4(29%) because of Employee’s Behavior, 2(14%)
because of Customer Services, 2(14%) because of technology used by
Indiabulls.
8. Reasons For Opting Other Firm In Comparision of Indiabulls
securities Ltd.
Brokerage Documentation Employee’s
Behavior
5 3 2
% 50% 30% 20%
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Interpretation: 10 customers prefer other firms than Indiabulls Securities
Ltd. Among these 10, 50%(5) prefer other firm due to high Brokerage charges
and rest 30%(3) and 20%(2) prefer other firms because of Documentation &
Employee’s behavior resp.
9. Faced problem with Indiabulls:
Yes No
67% 33%
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Interpretaion: Regardless of various kind of services provided by the
company to its client a major portion from them (67%) have faced problem
with Indiabulls and 33% of the respondent have not faced any problem.
10.Types of Problem faced by Customer:
Fund Transfer No Response
from Rm
Documentation
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7 16 10
% 21 49 30
INTERPRETATION: As we can be seen from the above data there are
various kind of problem which is faced like sometime fund transfer, no
response from relationship manager, documentation. So it is duty of the
company to improve these services to retain its customer.
11.Attended by company:
Yes No
25 8
% 75% 25%
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Interpretation: After sale services to the client is very essential if a
company want its survival in current scenario. It is clear from the above data
that Company solved the problem of 25(75%) clients & rest problems are not
solved by company.
12. Suggestion to other by customer to open Demat Account
Yes No
70% 30%
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Interpretation:- This shows that 70% of customers are satisfied from the
company’s product & services & willing to suggest other people to open a
Demat Account with INDIABULLS And rest 30% are not satisfied with the
Company.
13. Company rating by customer
Excellent Very Good Good Average Poor
11% 28% 35% 22% 4%
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Interpretation:- Every respondent have his/her own criteria of rating he
company. From the data collected it is clear that the 35% customer rate the
company as Good and 30% rate it as very good. A low percentage (4%) of
clients rate it as poor and 11% of them has rated it as Excellent.
14. Suggestions by the Customers to Indiabulls securities Ltd.
Messsage Alert Less opening
Charges
Less brokrage Give More
Advices
15% 17% 43% 25%
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Interpretation: There are various kind of suggestions given by
the customer like they said that the company should reduce its
brokerage charges and opening charges, they also said that they
should also be give some message alerts and more
recommendation call time to time.
HYPOTHESIS TESTING
I have also used hypothesis and analyzed with the help of SPSS software for
the further analysis of the data conducted by me.
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HYPOTHESIS1- Longer the duration with the company higher the
satisfaction level of the customer
Correlation
This test shows that the above hypothesis taken is proved positive i.e. test is
significant (.599) which means that there is positive relationship between
duration of trading with the company and satisfaction level of customers.
HYPOTHESIS 2 –There is a significant difference on the final rating for
the Company among users who consider online terminal working conveniently
or inconveniently.
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T-Test
Value of significance of the above hypothesis is very high so the
hypothesis is accepted.
HYPOTHESIS 3- Higher the employee knowledge higher the satisfaction
of customer
CORRELATION
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The value of significance is positive so it is clear from the test that there is a
positive correlation between the employee knowledge and the satisfaction
level of the customer.
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FINDINGS &
RECOMMENDATIONS
Findings
1. According to research from last six months market is down that’s
why among 100-sample size only 6% is with India bulls from last
six months.
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2. Mainly clients trade on delivery basis rather than Intraday basis
as we can see in this study we found that only 10% people deal in
Intraday. On the other hand around 20%-45% is deal on delivery
basis due to risk constraints.
3. Main drawback of Indiabulls Securities Ltd. is high opening
charges i.e. Rs. 900, high brokerage, in comparison of other
brokerage firms.
These points are negative for Indiabulls Securities Ltd. because
These facts demoralize people’s interest towards Indiabulls.
4. Indiabulls has some positive and some negative points also due to
which company lies between good and very good category in
customer’s opinion.
5. Zero Annual Maintenance Charges and customer orders on
Recording lines are the strongest point of Indiabulls Security Ltd..
6. Power Indiabulls(PIB) is very fast software and provide many
more features then browser base terminal which highly attaracts
high trading customers towards Indiabulls securities Ltd.
7. 66% customers knows his/her relationship manager but rest 34%
doesn’t know his or her relationship manager defection ratio and
increase the negative word of mount.
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8. Maximum customers required update and advice from company
through SMS because in daily schedule everyone doesn’t get time
to keep in touch with relationship manager and know about the
share market.
RECOMMENDATIONS
What I recommend firstly there should be
[1] First Aid Kit for New Entrant into Securities Market this will be a new
step towards a good service provider in this field. After all, this market
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depends on the after sales service. After seeing such a boost in the share
market, not only our Adult generation but also the young generation is also so
much excited to enter the share market. Now the actual problem starts
specially with the young ones in excitement initially they invests the money &
due to lack of experience they loose big block of money in one go & later they
blames the company about the loss. So, to make them train in the field we
should provide them the initial precautions that they should take while enter
into the market.
“The More You Care For Your Customer More The Faith Will Get Develop
From Customer Side”
[2] Provision for Class Room training for the new investors for the above
reason same thing to boost there moral and to give them some thing related to
the market will help them. Also some tips can also be given to these investor
during the session as a precautions.
[4] Update Phone numbers & address of customers through which Company
or Relationship Manager could keep in contact with customers which help in
deliver better services to the customers.
[5] Contact the customers who are not in touch with company or not dealing
through company from some period, meet or call them on monthly basis this
strategy motivates the clients to deal with company. Retain old customers is
more beneficial for company inspite of making or attracting new prospects.
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Note:
The recommendations which I have listed here above are strictly based on the
knowledge of the securities market that I have acquired during my training of
two months duration.
All the recommendations are for the improvement in the functioning of the
front end operations of the Indiabulls Securities Ltd. (Delhi Branch).
The recommendations are purely based on the problems that I had faced as a
Management Trainee.
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LIMITATIONS
LIMITATIONS
Each & every research is subject to some limitations due to difficulties
encountered in sincere efforts & this one is also not an exception to
limitations. The purpose of mentioning these limitations is not to dilute the
quality of the research rather to enable the reader to judge the validity of the
study. Some of the limitations of the reaseach have been listed below.
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The first and foremost limitation was time constraint which was only 2
months but still efforts have been made to put the picture as clear as
possible.
Some people were not willing to disclose the investment profile
.The biased ness was being taken care of.
The sample size being small,it is difficult to generalize the result.
The area of sample was decided after taking into consideration the
major factors like
Availability of Customers
Approachability,
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BIBLIOGRAPHY
BIBLIOGRAPHY
WEBSITES:
www.indiabulls.com
www.nseindia.com
www.bseindia.com
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www.wikipedia.com
www.yahoo.com
www.google.com
BOOKS REFFERED:
Financial Management by I.M.Pandey
Financial Management by Khan & Jain
JOURNALS & NEWSPAPERS:
Business-Standard
Economic Times
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ANNEXURE
ANNEXURE
Questionnaire
1. How often do you trade?
a. Daily b. Weekly c. Monthly d. Occasionally
2. For how long are you dealing with Indiabulls Securities Ltd..?
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a). Less than 6 month b) 6 months - 1 year
c) 1 year - 2 year d) more than 2 years
3. Are you satisfied with the Company?
a. Satisfied b. Partially Satisfied c. Dissatisfied
4. Please rate the company on the following parameters on the scale of 1 to 5; 1 is for poor
and 5 is for excellent performance
1 2 3 4 5
Employee’s Knowledge
Brokerage
Employee Behaviour
Documentation
Technology
5. Do you know your relationship manager?
a. Yes b. No
6. Are you having Demat account more than 1 company?
a. Yes b. No
6. If yes, which company services you like most:
a. Indiabulls Securities Ltd.
b. Other_______________
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7. Is the Online Terminal Working conveniently?
a. Yes b. No
8. Have you faced any problem with the Indiabulls Securities Ltd.?
a. Yes b. No
If yes, What was the problem:
_________________________________________________________________________
_______________________________________________________________________
9. Was your problem attended by the company?
a. Yes b. No
10. Would you suggest anyone to open a Demat account in this Branch?
a. Yes b. No
11. How would you rate the company?
a. Excellent
b. Very good
c. Good
d. Average
e. Poor
12. Any suggestions for the Company? ________________________________________
_________________________________________________________________________
_______________________________________________________________________
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Personal Information (Optional)
Name: _______________________
Age: _______________________
Marital Status
Married Unmarried
Average Income
2.5 lacs – 4.5 lacs 4.5 lac – 6.5 lac
6.5 lacs – 8.5 lacs Above 8.5 lacs
~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ THANK YOU ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~
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