report

PREFACE

For a management student training plays an important role

during his/her study. Training provides a corporate or real world platform

to learn practically.

This training provides us an opportunity to know the current

market. To know the current market situations, prevailing competitions,

behavioral environment of different people etc. It provides us a platform

whereby we can apply our theoretical knowledge and we can solve many

practical problems. And hence it can help us to be a successful manager

in future.

Thanking to all those who directly or indirectly helped me to

complete this project within a short span of time. For preparation of this

report I would like to thanks to faculty members of our college and staff

members of INDIA INFOLINE SECURITIES PVT. LTD., SURAT.

EXECUTIVE SUMMARY

PURPOSE:

Days were gone when people only invest their money in post

office or in banks. Today people have several choices for the investment.

One of the most emerging choices is to invest in shares (equities). To get

good return on investment, people are ready to take risks. To start

investment in equities people need Demat, Trading and bank account.

Investors thus try to select the broking firms as per their

requirements. The investors want some unique features in the broking

firms so that they can get good services from them. The various

parameters are taken into consideration for the selection of broking firms

by the investors. Information which include the criteria about customers

prefer for the selection of broking firms, their needs and wants such as

brokerages, advisory services, margin money etc. Such information is

used to satisfy customers’ needs and wants.

OBJECTIVES OF THE PROJECT

1. To understand the practical aspects and working of the broking firms.

2. To understand the factors that influence the preferences of the

customers in terms of brokerage charges, advisory services, payment

conditions, regular research etc.

3. To know which investment avenues are preffered by the investors so

that they earn profit.

4. To know the factors or parameters preferred by investors in choosing

the broking firm such as margin money, better customer relationships,

advisory services etc.

APPROACH:

Here sample size of 100 respondents of various brands like,

India Infoline, Motilal Oswal, IL&FS, Share Khan, India Bulls are taken from

Surat. I used descriptive research design to reach my objectives. Data are

collected through structured questionnaire followed by personal interview.

FINDINGS:

For this project report I have used descriptive research design to

reach my objective and collected data through structured questionnaire

followed by personal interview. Through the entire report I found out that:

Basically the investors invest in capital market and utilize the facility of

the broking firms such as portfolio management, services of the

relationship managers, advisory services, etc.

The broking firms are having some unique features, which attract

the customers such as brokerage charges, margin money, regular

seminars and research etc. From the findings I have found out that India

Infoline provides best services such as customer relations, portfolio

management, offline services etc.

TABLE OF CONTENT

SR. NO. TOPIC Page no.

1 Introduction

1.1 industry profile

1.2 Company profile

2 Research Methodology

2.1 Problem definition

2.2 Objectives of Research

2.3 Research Methodology

2.4 Statistical Test used

3 Data analysis & Interpretation

4 Findings

5 Conclusion

6 Bibliography

7 Appendix

1. INTRODUCTION

1.1 INDUSTRY PROFILE

Introduction of broking industry

This report analyzes the Indian retail brokerage industry, taking into

account the health of the capital markets and the intensity of competition

among the brokerage companies

The Indian retail brokerage industry consists of companies that primarily

act as agents for the buying and selling of securities (e.g. stocks, shares,

and similar financial instruments) on a commission or transaction fee

basis. It has two main interdependent segments: Primary market and the

Secondary market.

Some of the main characteristics of the brokerage industry include

growth in e-broking; growing derivatives market, decline in brokerage

fees etc.

Retail investors often lack the knowledge and expertise in the financial

sector that calls them to approach the broking houses. The retail broking

services provided by the various companies are homogeneous with very

low product differentiation. This allows customers to enjoy a greater

bargaining power. There is a growing dependence of corporates on

broking houses with the rising number of IPO’s coming to the market.

Lot of brokerage companies is moving towards consolidation with the

smaller ones becoming either franchisees for the larger brokers or closing

operations. There is an increasing demand for online trading due to

consumer’s growing preference for Internet as compared to approaching

the brokers.

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. Various

alternative forms of investment including fixed deposits with banks and

post offices etc. act as substitutes to retail broking products and services.

An agent charges a fee or commission for executing buy and sells

orders submitted by an investor. The firm that acts as an agent for a

customer, charge the customer the commission for its service. Roles

similar to that of a stockbroker include investment advisor, financial

advisor and probably many others.

A broker works for a brokerage firm (a sell-side institution). A trader

works for a buy-side institution (mutual fund, investment advisory firm,

insurance company, etc.) or for himself. Brokers don't care what they sell

and at what prices, as long as they get to sell a lot of it. Traders

(professional ones anyway) work to make sure that they are transacting

at the best possible price at the lowest possible cost.

.Which broking firm to choose

Till recently, one could buy or sell stocks only through individual

stockbrokers and broking firms/companies. But now stock trading has

gone online, and there are many Web-based share-trading platforms such

as icicidirect.com, hdfcsecurities.com, investsmartindia.com and

sharekhan.com.

Trade confirmation

Trading Web sites have their own order book, which is matched in

the exchange's order book. Brokers may not always trade in your name.

This could mean a potential conflict of interest. However, this is not a

major problem now, as you can crosscheck on the same day whether your

broker has carried out the trading instructions in the NSE or the BSE.

Offline trading

With a broker, it becomes tedious to place orders when someone is

traveling. Broking houses do have tie-ups and branches in important

cities. Check about the availability of such services. The online broking

sites remove this difficulty from trading. But check whether an offline

trade order can be placed if the site is not accessible.

Brief introduction of Various products offered by broking firms:-

MUTUAL FUNDS:

A mutual fund is a form of collective investment that pools money from many

investors and invest their money is stocks, bonds, short term money market instruments, and

other securities. In an mutual fund, the fund manager who is also know as portfolio manager,

trades the fund’s underlying securities, realizing capital gains or losses, and collects the

dividend of interest income. The investment proceeds are then passed along to the individual

investors. The value of a share of the mutual fund, known as the net asset value per share

(NAV), is calculated daily based on the total value of the fund divided by the number of

share currently issued and outstanding.

COMMODITIES:

Commodity markets are markets where raw or primary

products are exchanged. These raw commodities are traded on

regulated commodities exchanges, in which they are bought and sold in

standardized Contracts

Cotton, kilowatt-hours of electricity, board feet of wood, long

distance minutes, royalty payments due on artists' works, and other

products and services have been traded on markets of varying scale, with

varying degrees of success

GOVERNMENT BONDS:

Bonds are issued by public authorities, credit institutions,

companies and supranational institutions in the primary markets. The

most common process of issuing bonds is through underwriting. In

underwriting, one or more securities firms or banks, forming a syndicate,

buy an entire issue of bonds from an issuer and re-sell them to investors.

Government bonds are typically auctioned.

INSURANCE:

Insurance is defined as the equitable transfer of the risk of a loss,

from one entity to another, in exchange for a premium. Similar to an

insurance consultant, an ‘insurance broker’ also shops around for the best

insurance policy amongst many companies. However, with insurance

brokers, the fee is usually paid in the form of commission from the insurer

that is selected rather than directly from the client.

http://en.wikipedia.org/wiki/Primary_market

http://en.wikipedia.org/wiki/Commodities_exchange

LOANS:-

A loan is a type of debt. All material things can be lent but this

article focuses exclusively on monetary loans. Like all debt instruments, a

loan entails the redistribution of financial assets over time, between the

lender and the borrower.

DERIVATIVE:

Derivative is a financial instrument, which derives its value from an

underlying asset. The underlying assets can be stock, bonds, currency,

commodities, metals even intangible, and pseudo assets like stock

indices.

Derivatives have been a recent development in the Indian financial

markets. But there have been derivatives in commodities market also.

There is a cotton and oilseed future in Mumbai, Soya future in Bhopal,

pepper futures in Cochin, coffee futures in Bangalore etc. But the players

in this market are restricted to farmers and industries, which need these

as an input to protect themselves from the vagaries of agriculture sector.

Comparative Assessment of different companies: ---

1... India Infoline-

Buy and sell shares on 5paisa.com with speeds comparable and at

times better than NSE's NEAT Terminal. Its website is www.5paisa.com

It has collaboration with following banks such as ICICI Bank, HDFC

Bank, City bank, UTI Bank, Centurion Bank of Punjab, Bank of Baroda.

http://www.5paisa.com/

Brokerage charges---

One time registration charge 555/-

Margin money 5000/-

Intraday trading 0.10%

Cash delivery 0.50%

F&O 0.10%

Intraday 0.05%

Cash delivery 0.25%

2... Share khan

It has collaborated with ICICI bank, HDFC bank, YES bank, IndusInd

bank, and Oriental bank of commerce, Union bank of India.

Brokerage charges—


Margin money 25000/-


Cash delivery 0.80%

F&O 0.10%

Cash delivery 0.50%

3... Motilal Oswal

One of the top-3 broking houses in India, with a dominant position in

both institutional and retail broking, most is amongst the best-capitalized

firms in the broking industry in terms of net worth. Company was founded

in 1987 as a small sub-broking unit, with just two people running the

show. Focus on customer-first-attitude, ethical and transparent business

practices, respect for professionalism, research-based value investing and

implementation of cutting-edge technology have enabled it to blossom

into a thousand-member team.

Web site URL: www.motilaloswal.com

http://www.motilaloswal.com/

Brokerage charges—


Margin money 5000/-


Cash delivery 0.50%

4... IL&FS

IL&FS Invest smart Limited (IIL) is a premier financial service

organization providing individuals and corporate with customized financial

management solutions. We work towards understanding your financial

goals and helping you attain them.

Web site URL: www.investsmartindia.com

Brokerage charges--


Margin money -


Cash delivery 0.40%

5... India Bulls

India bull is India's leading retail financial services company with 70

locations spread across 62 cities. While our size and strong balance sheet

allow us to provide you with varied products and services at very

attractive prices, our over 450 Client Relationship Managers are dedicated

to serving your unique needs. It has collaborated with ICICI bank, HDFC

bank and UTI bank.

Web site URL: www.indiabulls.com

http://www.investsmartindia.com/

Brokerage charges--


Margin money -


Cash delivery 0.40%

This is the matrix prepared through the above comparative analysis of the

broking firms:

COMPARATIVE CHART OF SELECTED BROKING FIRM:

PARAMETERS/

COMPANIES

INDIA

INFOLIN

E

IL&F

S

SHAREKHA

N

INDIA

BULL

S

MOTILA

L

OSWAL

Equities Y Y Y Y Y P

Derivatives Y Y Y Y Y R

Commodities Y Y Y Y Y O

Merchant

bankingN Y N N N D

Portfolio

mgmtY Y Y Y Y U

Mutual funds Y Y Y Y Y C

Insurance Y Y Y Y Y T

Loans N Y Y Y N S

Investment

advisory

services

Y Y Y Y Y S

Online

services

{software}

Y N Y Y N E

Offline

servicesY Y Y Y Y R

Relationship

managementY Y Y Y Y V

Margin

money5000/- NIL 25000/- 900/- NIL C

Debit charges 0.05% 0.05% 0.05 H

%

Yearly

chargesNIL 600/- 460/- NIL 900/- A

Brokerages R

{Intraday} 0.10%0.04

%0.10%

0.08

%0.05% G

{Delivery} 0.50%0.40

%0.80%

0.40

%0.50% E

1.2 COMPANY PROFILE:

INDIA INFOLINE SECURITIES PVT. LTD

The India Infoline Group is committed in placing the Investor First,

by continuously striving to increase the efficiency of the operations as

well as the systems and processes for use of corporate resources in such

a way so as to maximize the value to the stakeholders. The Group aims at

achieving not only the highest possible standards of legal and regulatory

compliances, but also of efficient effective management.

PROFILE OF INDIA INFOLINE:

In 1995, Nirmal Jain founded his own independent financial research

company, now known as India Infoline Ltd. India Infoline Ltd Launched on

11 May 1999; www.indiainfoline.com is India’s leading and most

comprehensive business and financial information website.

Www.5paisa.com is subsidiary company of India Infoline Ltd. Launched

for online trading in mid-2000. The 5paisa trading interface is one of the

most advanced platforms available to retail investor in India. The site

made available quality information and analysis - earlier restricted to a

few people - to the common man absolutely free.

The India Infoline group, comprising the holding company, India

Infoline Ltd and its wholly owned subsidiaries offers the entire gamut of

investment products ranging from Equities and derivatives trading,

Commodities trading, Portfolio Management Services, Mutual Funds, Life

Insurance, Fixed deposits, GoI bonds and other small savings instruments.

India Infoline also owns and manages the websites, www.indiainfoline.com

and www.5paisa.com. India Infoline Ltd is a company listed on both the

leading stock exchanges in India namely the Stock Exchange, Mumbai

(BSE) and the National Stock Exchange (NSE). The India Infoline group has

a significant presence across the country owing to its 125 offices across

45 cities across India. All these offices are networked and are connected

with the corporate office in Mumbai.

Post deregulation of the insurance sector, India Infoline Ltd became

one of the first corporate agents to be licensed by IRDA and have tied up

with ICICI Prudential Life Insurance Company. ICICI Prudential Life

Insurance Company Ltd. is the leading private sector insurance player,

and India Infoline ltd.are their leading corporate agent.

MANAGEMENT

INDIA INFOLINE is well known for its financial research. Below is a list of

the team that drives INDIA INFOLINE LTD.

Board of Directors

Directors

Mr. Nirmal Jain Chairman and Managing

Director

Mr. R. Venkataraman Executive Director

Mr. Sat Pal Khattar Non Executive Director

Mr. Sanjiv Ahuja Independent Director

Mr. Kranti Sinha Independent Director

Mr. Nilesh Vikamsev Independent Director

ABOUT INDIA INFOLINE LTD.

The India Infoline Group, comprising the holding company, India

Infoline Ltd. And it’s wholly all subsidiaries offer the entire gamut of

investment products ranging from Equities and Derivatives trading,

Commodities trading, Portfolio management services, Mutual Funds, Life

Insurance, Fixed Deposit, GOI bonds and other small savings instruments.

It also owns & manages websites, www.indiainfoline.com &

www.5paisa.com

KEY MILESTONES

Incorporated on October 18, 1995 as Probity Research & Services

Launched Internet portal www.indiainfoline.com in May 1999

Commenced distribution of personal financial products like Mutual

Funds and RBI Bonds in April 2000

http://www.indiainfoline.com/


http://www.indiainfoline.com/

Launched online trading in shares and securities branded as

www.5paisa.com in July 2000

Started life insurance agency business in December 2000 as a

Corporate Agent

Launched stock messaging service in May 2003

Acquired commodities broking license in March 2004

Launched portfolio management services in August 2004

Listed on NSE and BSE on May 17, 2005

Acquired 75% stake holding in Money tree Consultancy services in

October 2005

Acquired 100% equity of Marchmont Capital Advisors Pvt. Ltd in

December 2005

DSP Merrill Lynch Capital subscribed to convertible bonds

aggregating Rs.80 crores in December 2005. Their current stake in

India Infoline is a little over 14% as on 31st March 2007.

Bennett Coleman & Co Ltd (BCCL) invested Rs.20 crores in India

Infoline by way of preferential allotment in December 2005.

Became a depository participant of CDSL in June 2006.

Merger of India Infoline Securities Private Limited with India Infoline

Limited in January 2007.

Entered into an alliance with Bank of Baroda for Baroda for Baroda e-

trading in February 2007.

IRDA license for insurance Broking in April 2007.

VISION

Company vision is:

To be the premier provider of investment advisory and financial

planning services in India.

To be a leading investment intermediary for transactions through

both online and offline medium.


PUNCH LINE: IT’S ALL ABOUT MONEY, HONEY!

AWARDS

The company also won the Golden Mouse Award in India Internet

World 2000 for

The Best Finance Site. In May 2001, our website was included in the

Top 200 Best of the Web list by Forbes Global under the Asia

Investing category.

RESEARCH METHODOLOGY:--

1. PROBLEM STATEMENT :-

The research problem focuses on the parameters are important for the

selection of broking firms by the customers.

The study focuses on identifying the entire potential buyer in market and

also trying to find out factors that affect the investment decisions of

investors.

2. OBJECTIVE OF THE STUDY :-

The sole effort behind carrying out this study is to find out the various

relationships among different broking firms and how the customers

choose their broking firms.

1. To understand the practical aspects of the broking firms.

2. To understand the factors that influence the preferences of the

customers.

3. To know which investments they choose.

4. To know the factors or parameters preferred by investors in

choosing the broking firm.

3. RESEARCH DESIGN:-

(A) RESEARCH TYPE:-

The type of research undertaken is Descriptive design.

As we are trying to study the investment behavior in general

aspect the study also examines various criteria that people of

various age groups looking before making investment

decisions as well as other parameters for selection of broking

firms.

(B)RESEARCH PLAN:-

Primary data is collected through the survey method. The

survey is done with the help of questionnaire. By this method

the behavior of investors can be known more closely.

(C)SAMPLE DESIGN:-

UNIVERSE is entire group of items that researcher wishes to

study and about which help to plan to generalize. For this study

the universe is Surat city.

(D) SAMPLE TYPE:-

The type of sampling is non-probabilistic random sample. The

population surveyed is according to the convenience and

looking to the time and cost factors.

4. DATA ANALYSIS:

Data Analysis is done using SPSS software (Statically Package

for Social Science). This will be used because it gives us

accurate and fast result. Also multiple features of SPSS will

help in applying various tests to reach to accurate conclusions

5. LIMITATIONS OF THE STUDY:-

i. Probability sampling was not used and therefore the results cannot

be generalized.

ii. The project has been carried within two months so there is time

limitation and cost limitation.

iii. Here only those respondents who were available at trading branch

and from Bank of Baroda customers were being surveyed..

iv. The sample size of 100 customers is very small compared to the

population size. There for, findings cannot be generalized to the

larger population.

6. STATISTICAL TESTS TO BE USED

MEASUREMENT OF CENTRAL TENDENCY:

Measure of central tendency is the application of mean,

median and mode.

Factor analysis:-

Factor analysis attempts to identify underlying variables or

factors, that explain the pattern of correlations within a set of observed

variables. Factor analysis is often used in data reduction to identify a

small number of factors that explain most of the variance that is observed

in a much larger number of manifest variables. Factor analysis can also be

used to generate hypotheses regarding causal mechanisms or to screen

variables for subsequent analysis.

Chi-square test:-

With the help of chi square test we can find out whether two or

more attributes are associated or not.

Thus we use chi square distribution to see whether two

classifications of the same data are independent of each other.

DATA ANLYSIS & INTERPRETATION:

Frequency Table

A. Gender

Frequency

Percent

Valid Percent

Cumulative Percent

Valid

Male81 81.0 81.0 81.0

Female 19 19.0 19.0 100.0 Total 100 100.0 100.0

Interpretation:

From above graph we can say that about 81% of investors are male

and only 19% are female.

B. Occupation

Frequency

Percent

Valid Percent

Cumulative Percent

Valid

Student 6 6.0 6.0 6.0House wife

1 1.0 1.0 7.0

Business 39 39.0 39.0 46.0Service 43 43.0 43.0 89.0Professional

11 11.0 11.0 100.0

Total 100 100.0 100.0

Interpretation

From the above table and graph we can see that about 43% of

people who invest in capital market are service people. And about 39% of

investors are having their own business and so they invest in capital

market. Others are the housewife, students and professionals who invest

very less in capital market.

C. Age

Frequency

Percent

Valid Percent

Cumulative Percent

Valid

19 to 30

59 59.0 59.0 59.0

31 to 40

8 8.0 8.0 67.0

Above 50

33 33.0 33.0 100.0

Total 100 100.0 100.0

Interpretation:

From above chart and graph we come to the conclusion that about 59% of

the age group fall under 19 to 30 age group, which is considered as young

generations who are interested in investment. And 33% of the people

belong to age of above 50 years.

D. Income

Frequency

Percent

Valid Percent

Cumulative Percent

Valid

50000 to 100000

4 4.0 4.0 4.0

100001 to 200000

25 25.0 25.0 29.0

200001 to 500000

34 34.0 34.0 63.0

More than 500000

37 37.0 37.0 100.0

Total 100 100.0 100.0

Interpretation:

From the above graph and chart we can see that about 37% of

investors have their annual income of more than 5 lacs and about 34% of

investors have income between 200001 to 500000 which means that

middle income groups also invest in capital market.

ANALYSIS:

1. Do you invest in capital market?

1. INVEST

N Valid 100Missing 0

Mean 1.00Median 1.00Mode 1Std. Deviation .000

Freque Percen Valid Cumulative

ncy t Percent PercentValid

YES100 100.0 100.0 100.0

Interpretation: -

From the above chart we can see that all the investors do invest in

capital market.

Here the mean, median and mode are 1 that means 100% investors

invest in capital market.

2. Choose the alternative for investment given below for

broking firms.

Various investment avenues with age group

Null Hypothesis (H0): There is no significance association between

various investment avenues with age group.

Alternative Hypothesis (H1): There is significance association between

various investment avenues with age group.

Significance Level: We test our hypothesis at 95% confidence level i.e.

the chance of occurring error is 5%.

CasesValid Missing Total

NPercent N

Percent N

Percent

2.EQUITIES * AGE

100100.0%

0 .0% 100100.0%

2.DERIVATIVES * AGE

100100.0%

0 .0% 100100.0%

2.COMMODITIES * AGE

100100.0%

0 .0% 100100.0%

2.INSURANCE * AGE

100100.0%

0 .0% 100100.0%

2.GOVT.BONDS * AGE

100100.0%

0 .0% 100100.0%

2.MF * AGE100

100.0%

0 .0% 100100.0%

2.FD * AGE100

100.0%

0 .0% 100100.0%

2.PPF * AGE100

100.0%

0 .0% 100100.0%

2.REAL ESTATE * AGE

100100.0%

0 .0% 100100.0%

2.OTHERS * AGE100

100.0%

0 .0% 100100.0%

2.EQUITIES * AGE

Crosstab

AGE Total19 TO 30

31 TO 40

ABOVE 50

19 TO 30

2.EQUITIES

NO INVEST

6 0 1 7

INVEST 55 8 30 93Total 61 8 31 100

Chi-Square Tests

Value df

Asymp. Sig. (2-sided)

Pearson Chi-Square

.855(a) 2 .652

Likelihood Ratio

1.556 2 .459

Linear-by-Linear Association

.012 1 .911

N of Valid Cases

100

a. 2 cells (33.3%) have expected count less than 5. The minimum

expected count is .71.

Interpretation:

From the above chart we can see that Pearson’s chi square value

is 0.855 and its associated probability is 0.652, which is more than 0.05,

which means that there is no statistically significance difference in the

investment in Equities and Age.

2. DERIVATIVES * AGE

Crosstab

AGE Total19 TO 30

31 TO 40

ABOVE 50

19 TO 30

2.DERIVATIVES

NO INVEST

36 8 32 75

INVEST 25 0 0 25Total 61 8 32 100

Chi-Square Tests

Value df


Pearson Chi-Square

16.719(a)

2 .000

Likelihood Ratio

20.336 2 .000


15.615 1 .000

N of Valid Cases

100

a. 1 cell (16.7%) has expected count less than 5. The minimum expected

count is 2.12.

Interpretation:

From the above chart we can see that Pearson’s chi square value is

16.719 and its associated probability is 0.000, which is less than 0.05,

which means that there is statistically significance relation in the

investment in Derivatives and Age.

2. COMMODITIES * AGE

Crosstab

AGE Total19 TO 30

31 TO 40

ABOVE 50

19 TO 30

2.COMMODITIES

NO INVEST

53 8 33 94

INVEST 6 0 0 6Total 59 8 33 100

Chi-Square Tests

Value Df


Pearson Chi-Square

5.835(a)

2 .054

Likelihood Ratio

8.679 2 .013


5.005 1 .025

N of Valid Cases

100



Interpretation:


5.679 and its associated probability is 0.054, which is more than 0.05,

which means that there is no statistically significance difference in the

investment in Commodities and Age.

2. INSURANCE * AGE

Crosstab

AGE Total19 TO 30

31 TO 40

ABOVE 50

19 TO 30

2.INSURANCE

NO INVEST

55 8 30 91

INVEST 6 0 3 9Total 61 8 33 100

Chi-Square Tests

Value df


Pearson Chi-Square

.855(a) 2 .652

Likelihood Ratio

1.556 2 .459


.012 1 .911

N of Valid Cases

100



Interpretation:

From the above chart we can see that Pearson’s chi square

value is 0.855 and its associated probability is 0.652, which is more than

0.05, which means that there is no statistically significance difference in

the investment in Insurance and Age.

2. GOVT.BONDS * AGE

Crosstab

AGE Total19 TO 30

31 TO 40

ABOVE 50

19 TO 30

2.GOVT.BONDS

NO INVEST

62 8 30 100

Total 62 8 30 100

Chi-Square Tests

ValuePearson Chi-Square

.(a)

N of Valid Cases

100

a. No statistics are computed because 2.GOVT.BONDS is a constant.

Interpretation:

The Chi-square test is carried out at 95% confidence level

(0.05 significance level). There is no statistical significant relation

between government bonds and age.

2. MF * AGE

Crosstab

AGE Total19 TO 30

31 TO 40

ABOVE 50

19 TO 30

2.MF

NO INVEST

31 4 30 65

INVEST 28 4 3 35Total 59 8 33 100

Chi-Square Tests

Value df


Pearson Chi-Square

15.596(a)

2 .000

Likelihood Ratio

17.872 2 .000


14.808 1 .000

N of Valid Cases

100

a. 1 cell (16.7%) has expected count less than 5. The minimum expected

count is 2.90.

Interpretation:


15.596 and its associated probability is 0.000, which is less than 0.05,

which means that there is some statistically significant relation in the

investment in Mutual Fund and Age.

2. PPF * AGE

Crosstab

AGE Total19 TO 30

31 TO 40

ABOVE 50

19 TO 30

2.PPF

NO INVEST

59 8 33 100

Total 59 8 33 100

Chi-Square Tests

ValuePearson Chi-Square

.(a)

N of Valid Cases

100

a . No statistics are computed because 2.PPF is a constant.

Interpretation:

The Chi-square test is carried out at 95% confidence level (0.05

significance level). There is no statistical significant relation between

government bonds and age.

2.REAL ESTATE * AGE

Crosstab

AGE Total19 TO 30

31 TO 40

ABOVE 50

19 TO 30

2.REAL ESTATE

NO INVEST

55 8 33 96

INVEST 4 0 0 4

Total 59 8 33 100

Chi-Square Tests

Value df


Pearson Chi-Square

4.285(a)

4 .369

Likelihood Ratio

6.420 4 .170


1.344 1 .246

N of Valid Cases

100



Interpretation:


4.285 and its associated probability is 0.3.69, which is more than 0.05,

which means that there is no statistically significance relation in the

investment in Real Estate and Age.

3. Which broking firm comes to your mind first while making

investment?

3.IL&FS3.INDIA INFO

3.MOTI OSW

3.I BULLS

3. SHA KHA

N Valid 100 100 100 100 100Missing

0 0 0 0 0Mean 0.24 0.38 0.15 0.6 0.17Median 0 0 0 0 0Mode 0 0 0 0 0Std. Deviation 0.429 0.5 0.359 0.4 0.409

Interpretation:

From the above table we can say that the mean value 0.42 of India

Infoline, which is more comparatively to other firms. Therefore we can

say that more investors like to invest through this firm.

Frequency Table

3.IL&FS

Frequency

Percent

Valid Percent

Cumulative Percent

Vali

d

NO INVESTMENT

76 76.0 76.0 76.0

INVESTMENT

24 24.0 24.0 100.0

Total 100 100.0 100.0

3.INDIA INFOLINE

Frequency

Percent

Valid Percent

Cumulative Percent

ValidNO INVESTMENT 62 62.0 62.0 62.0INVESTMENT 38 38.0 38.0 100.0Total 100 100.0 100.0

3.MOTILAL OSWAL

Frequency

Percent

Valid Percent

Cumulative Percent

Valid

NO INVESTMENT

85 85.0 85.0 85.0

INVESTMENT

15 15.0 15.0 100.0

Total 100 100.0 100.0

3.I BULLS

Frequency

Percent

Valid Percent

Cumulative Percent

Valid

NO INVESTMENT

94 94.0 94.0 94.0

INVESTMENT

6 6.0 6.0 100.0

Total 100 100.0 100.0

3. SHARE KHAN

Frequency

Percent

Valid Percent

Cumulative Percent

Valid

NO INVESTMENT

83 83.0 83.0 83.0

INVESTMENT

17 17.0 17.0 100.0

Total 100 100.0 100.0

4. Are you aware of the following broking firms?

Statistics

4.INDIA INFO

4.I BULLS

4. IL&FS

4.SHAREKHAN

4.MOT OSW

4.OTHE

RS

N Valid 100 100 100 100 100 100

Missing 0 0 0 0 0 0

Mean .65 .25 .41 .34 .35 .00

Median 1.00 .00 .00 .00 .00 .00

Mode 1 0 0 0 0 0

Std. Deviation .479 .435 .494 .476 .479 .000

4.INDIA INFOLINE

Frequency

Percent

Valid Percent

Cumulative Percent

Valid

NO INVESTMENT

35 35.0 35.0 35.0

INVESTMENT

65 65.0 65.0 100.0

Total 100 100.0 100.0

4. INDIA BULLS

Freque Percen Valid Cumulati

ncy t Percentve Percent

Valid

NO INVESTMENT

75 75.0 75.0 75.0

INVESTMENT

25 25.0 25.0 100.0

Total 100 100.0 100.0

4. IL&FS

Frequency

Percent

Valid Percent

Cumulative Percent

Valid

NO INVESTMENT

59 59.0 59.0 59.0

INVESTMENT

41 41.0 41.0 100.0

Total 100 100.0 100.0

4.SHAREKHAN

Frequency

Percent

Valid Percent

Cumulative Percent

Valid

NO INVESTMENT

66 66.0 66.0 66.0

INVESTMENT

34 34.0 34.0 100.0

Total 100 100.0 100.0

4.MOTILAL OSWAL

Frequency

Percent

Valid Percent

Cumulative

PercentValid

NO INVESTMENT

65 65.0 65.0 65.0

INVESTMENT

35 35.0 35.0 100.0

Total 100 100.0 100.0

Interpretation:

From the above chart we can say that the respondents are more aware about the

company India Infoline and so they do invest in that firm.

5. Do you trade with the following broking firms?

TRADE

Frequency

Percent

Valid Percent

Cumulative Percent

Valid YES 95 95.0 95.0 95.0

NO 5 5.0 5.0 100.0Total

100 100.0 100.0

Interpretation:

The above chart represents that about 95% of the investors utilize the

services of more than one broking firm. Thus the investors may have utilized the

services of the following broking firms i.e. India Infoline, India Bulls, IL&FS, Share

Khan and Motilal Oswal.

6. How frequently do you trade?

Frequency

Percent

Valid Percent

Cumulative Percent

DAILY 49 49.0 49.0 49.0TWICE IN A WEEK

21 21.0 21.0 70.0

ALTERNATIVE DAY

10 10.0 10.0 80.0

WEEKLY 11 11.0 11.0 91.0RARELY 9 9.0 9.0 100.0

Total 100 100.0 100.0

Interpretation:

From the above chart we can say that the investors trade on daily basis or

may be for delivery basis i.e. in future. So about 49% of investors trade on daily

basis i.e. intraday. About 21% invest twice in a week. About 10% invest in

alternative day, 11% weekly on any day, and 9% rarely.

7. Please indicate your preference for the following in selection of

broking firm.

8. Which parameter do you consider important in selection of the

broking firm?

Factor Analysis:

KMO and Bartlett's Test

Kaiser-Meyer-Olkin Measure of .578

Sampling Adequacy.

Bartlett's Test

of Sphericity

Approx. Chi-

Square

290.69

0

Df 55

Sig. .000

Communalities

InitialExtraction

7.EFFECT SERVICE

1.000 .585

7.RELIABLE 1.000 .6797.COURTESY 1.000 .8857.OFFLINE 1.000 .5267.ADVISORY 1.000 .5797.SOFTWARE 1.000 .6668.BROCKRAGE 1.000 .6858.D.P. 1.000 .7628.RISK 1.000 .7888.TAX 1.000 .7638.RETURNS 1.000 .416

Explained

Component

Initial Eigenvalues

Extraction Sums of Squared Loadings

Rotation Sums of Squared Loadings

Total

% Of Variance

Cumulative % Total

% of Variance Total

% of Variance

Cumulative %

12.87126.098 26.098

2.871 26.098

2.428 22.073 22.073

21.77616.15 42.248

1.776 16.15

1.825 16.595 38.668

31.47 13.368 55.616 1.47 13.368

1.766 16.054 54.723

41.21511.042 66.658

1.215 11.042

1.313 11.936 66.658

5 0.9598.721 75.379 6 0.7456.777 82.156 7 0.5675.152 87.308 8 0.4694.264 91.572 9 0.3773.425 94.996 10 0.2942.669 97.666 11 0.2572.334 100

Component Matrix (a)

Component1 2 3 4

7.EFFECT SERVICE

.639 -.042 -.406 .102

7.RELIABLE .556 -.144 -.573 .1407.COURTESY .228 .432 -.095 .7987.OFFLINE .282 .638 -.159 -.1157.ADVISORY .613 -.446 .019 .0697.SOFTWARE .426 -.626 .304 .0188.BROCKRAGE .473 .277 .617 -.0578.D.P. .422 .050 .645 .4078.RISK .736 -.071 .063 -.4888.TAX .389 .696 .061 -.3508.RETURNS .608 -.004 -.214 .013

Rotated Component Matrix (a)

Component1 2 3 4

7.EFFECT SERVICE

.750 .004 .120 .088

7.RELIABLE .796 -.174 .011 .1197.COURTESY .199 .197 .161 .8837.OFFLINE .147 .003 .697 .1387.ADVISORY .607 .331 -.274 -.1617.SOFTWARE .348 .461 -.490 -.305

8.BROCKRAGE .000 .755 .328 -.0888.D.P. .039 .834 -.060 .2478.RISK .546 .334 .289 -.5438.TAX .088 .200 .840 -.1008.RETURNS .610 .133 .161 -.007

Extraction Method: Principal Component Analysis.

Rotation Method: Varimax with Kaiser Normalization.

Rotation converged in 6 iterations.

Component Transformation Matrix

Compon

ent 1 2 3 4

1 .820 .510 .246 -.085

2 -.244 .023 .894 .376

3 -.511 .839 -.093 -.163

4 .086 .189 -.363 .908

Interpretation:

Factor Analysis:-

Factor Analysis is a general term for several specific

computational techniques. All have the objectives of reducing to a

manageable number many variables that belong together and have

overlapping measurement characteristics. The predictor-criterion

relationship that was found in the dependence situation is replaced by

matrix of inter correlation among several variable, non of which is viewed

as being depended on other.

Inference:

From the above table we come to know that from various

parameters, the investors have selected some major parameters, which

are very essential for any investors who invest in the broking firms. These

parameters help the investors to take decisions whether to continue with

the existing broking firm.

We might interpret the above results as showing four kinds of factors

which has been filtered and they are:

(A) SERVICES:

Effective services and advisory services

The investors who choose the broking firm which provide

effective services as well as advisory services by Relationship

Managers

(B) COST:

The charges of the broking firm i.e. the brokerage as well as the tax

charged and the D.P.charges.

(C) FLEXIBILITY:

It includes the employee courtesy, offline services and firms reliability.

The last parameter is the employees’ courtesy, which is very

important, as there must be good relationship between the investors

and firm for the long term.

9. Have you utilized the trading facilities of more than one

broking firms?

Statistics

9.INDIA INFO 9.IL&FS

9.MOT OSW

9.I BULLS 9.SHAREKHAN

N Valid 100 100 100 100 100Missing0 0 0 0 0

Mean 0.28 0.14 0.22 0.08 0.1Median 0 0 0 0 0Mode 0 0 0 0 0Std. Deviation 0.451 0.349 0.416 0.273 0.302

Interpretation:

From the above chart we can say that the investors do invest in

more than one broking firms. From the above chart we get mean of India

Infoline 0.28 which is much more high compare to other broking firms.

10. Rate the following broking firms in given criterions.

BROKERAGE

10.INFO BROKG

10. MOTI BROKG

10.I BULLS BROKG.

10.IL&FS BROKG

10.SK BROKG

N Valid 100 100 100 100 100Missing 0 0 0 0 0

Mean 3.83 3.71 3.05 4.20 2.35Median 4.00 4.00 3.00 5.00 2.50Mode 4 4 3 5 1Std. Deviation .985 1.094 1.140 1.119 1.486

Frequency Table

INDIA INFOLINE BROKERAGE

Frequency

Percent

Valid Percent

Cumulative Percent

VALID WORST 4 4 4 4BAD 1 1 1 5NEUTRAL

27 27 27 32GOOD 43 43 43 75VERY GOOD 25 25 25 100Total 100 100 100

MOTILAL BROKERAGE

Frequency

Percent

Valid Percent

Cumulative Percent



INDIA BULLS BROKERAGE

Frequency

Percent

Valid Percent

Cumulative Percent



IL&FS BROKERAGE

Frequenc

y

Percen

t

Valid

Percen

t

Cumulativ

e Percent

BAD 9 9 9 9

NEUTRAL 20 20 20 29

GOOD 11 11 11 40

VERY

GOOD 60 60 60 100

Total 100 100 100

SHARE KHAN BROKERAGE

Frequency

Percent

Valid Percent

Cumulative Percent

WORST 48 48 48 48BAD 2 2 2 50NEUTRAL


Interpretation:

From the above chart we can say that there is a comparison

between 5 broking firms. From the above result we get the best firm for

the brokerage charges is IL&FS with 60% and then after comes Motilal

Oswal with 27%.

10. INVESTMENT ADVISORY SERVICES

Statistics

10.INFO INVSTMENT

10.MOTI INVESTMENT

10. I BULLS INVESTMENT

10.IL&FS INVESTMENT

10.SK INVESTMENT

NValid 100 100 100 100 100Missing0 0 0 0 0

Mean 3.8 3.78 3.13 3.26 2.7Median 4 3.5 3 3 3

Mode 4 3 3 5 3Std. Deviation 1.146 1.04 1.143 1.411 1.389

INDIA INFOLINE ADVISORY SERVICES

Frequency

Percent

Valid Percent

Cumulative Percent

VALID WORST 8 8 8 8BAD

3 3 3 11NEUTRAL

16 16 16 27GOOD

46 46 46 73VERY GOOD

27 27 27 100Total

100 100 100

MOTILAL OSWAL INVESTMENT ADVISORY SERVICES

Frequency

Percent

Valid Percent

Cumulative Percent

ValidWORST 1 1 1 1BAD 4 4 4 5NEUTRAL

45 45 45 50GOOD

15 15 15 65

VERY GOOD

35 35 35 100Total

100 100 100

INDIA BULLS INVESTMENT ADVISORY SERVICES

Frequency

Percent

Valid Percent

Cumulative Percent


17 17 17 26NEUTRAL

37 37 37 63GOOD

25 25 25 88VERY GOOD

12 12 12 100Total

100 100 100

IL&FS INVESTMENT ADVISORY SERVICES

Frequency

Percent

Valid Percent

Cumulative Percent


17 17 17 31NEUTRAL

24 24 24 55GOOD

18 18 18 73

VERY GOOD

27 27 27 100Total

100 100 100

SHARE KHAN INVESTMENT ADVISORY SERVICES

Frequency

Percent

Valid Percent

Cumulative Percent


21 21 21 45NEUTRAL

33 33 33 78GOOD

5 5 5 83VERY GOOD

16 16 16 100Total 100 100 100

Interpretation:

Investment advisory services are the services provided by the

broking firms. From the above table we get the result that Motilal

Oswal is having the highest percent 35% which is good and we can say

that Motilal Oswal provide better investment advisory services.

10. ONLINE SERVICES (SOFTWARE)

Statistics

10.INFO SOFTWARE

10.MOTI SOFTWARE

10.I BULLS SOFTWARE

10.IL&FS SOFTWARE

10.SK SOFTWARE

NValid 100 100 100 100 100Missing 0 0 0 0 0


Frequency Table

10.INFOLINE SOFTWARE

Frequency

Percent

Valid Percent

Cumulative Percent

Valid

WORST26 26.0 26.0 26.0

BAD 4 4.0 4.0 30.0 NEUTRAL 19 19.0 19.0 49.0 GOOD 19 19.0 19.0 68.0 VERY

GOOD32 32.0 32.0 100.0

Total 100 100.0 100.0

10.MOTILAL OSWAL SOFTWARE

Freque

ncy

Percen

t

Valid

Percent

Cumulati

ve

Percent

Vali

d

WORST 15 15.0 15.0 15.0

BAD 22 22.0 22.0 37.0

NEUTRAL 35 35.0 35.0 72.0

GOOD 18 18.0 18.0 90.0

VERY

GOOD10 10.0 10.0 100.0

Total 100 100.0 100.0

10.I BULLS SOFTWARE

Freque Percen Valid Cumulati

ncy t Percentve Percent

Valid

WORST 20 20.0 20.0 20.0BAD 22 22.0 22.0 42.0NEUTRAL 28 28.0 28.0 70.0GOOD 20 20.0 20.0 90.0VERY GOOD

10 10.0 10.0 100.0

Total 100 100.0 100.0

0.IL&FS SOFTWARE

Frequency

Percent

Valid Percent

Cumulative Percent

Valid WORST 42 42.0 42.0 42.0BAD 10 10.0 10.0 52.0NEUTRAL 23 23.0 23.0 75.0GOOD 7 7.0 7.0 82.0VERY GOOD 18 18.0 18.0 100.0Total 100 100.0 100.0

10.SHARE KHAN SOFTWARE

Frequency

Percent

Valid Percent

Cumulative Percent

Valid

WORST18 18.0 18.0 18.0

BAD 26 26.0 26.0 44.0 NEUTRAL 25 25.0 25.0 69.0 GOOD 9 9.0 9.0 78.0 VERY

GOOD22 22.0 22.0 100.0

Total 100 100.0 100.0

Interpretation:

From the frequency distribution we can say that mean

of India Infoline is 3.26, which is high compare to other broking

firms. So we can say that India Infoline provide better software

services.

10. OFFLINE SERVICE

Statistics

10.INFO OFFLINE

MOTI OFFLINE

10.I.BULLS OFFLINE

10.IL&FS OFFLINE

10.SK OFFLINE

NValid 100 100 100 100 100Missing0 0 0 0 0

Mean 3.78 3.22 3.4 3.66 2.96Median 4 3 3 4 3Mode 5 3 3 5 3

Std. Deviation 1.338 1.292 1.101 1.35 1.377

Frequency Table

10.INFOLINE OFFLINE

Frequency

Percent

Valid Percent

Cumulative Percent


MOTILAL OSWAL OFFLINE

Frequency

Percent

Valid Percent

Cumulative Percent


10.I.BULLS OFFLINE

Frequency

Percent

Valid Percent

Cumulative Percent


10.IL&FS OFFLINE

Frequenc Percen Valid Cumulative

y t Percent PercentValid WORST 8 8.0 8.0 8.0

BAD 13 13.0 13.0 21.0NEUTRAL 22 22.0 22.0 43.0GOOD 18 18.0 18.0 61.0VERY GOOD 39 39.0 39.0 100.0Total 100 100.0 100.0

10.SHARE KHAN OFFLINE

Frequency

Percent

Valid Percent

Cumulative Percent


Interpretation:

From the frequency distribution we get mean as 3.78, which is high

compare to other broking firms. So we can say that India Infoline

provide better offline services.

10. PORTFOLIO MANAGEMENT

Statistics

10.INFO PORTFOLIO

10.MOTI PORTFOLIO

10.I BULLS PORTFOLIO

10.IL&FS PORTFOLIO

10.SK PORTFOLIO

NValid 100 100 100 100 100Missing0 0 0 0 0


Frequency Table

10.INFOLINE PORTFOLIO

Frequency

Percent

Valid Percent

Cumulative Percent


10.MOTILAL OSWAL PORTFOLIO

Frequency

Percent

Valid Percent

Cumulative Percent


10.I BULLS PORTFOLIO

Frequency

Percent

Valid Percent

Cumulative Percent


10.IL&FS PORTFOLIO

Frequency

Percent

Valid Percent

Cumulative Percent


10.SHARE KHAN PORTFOLIO

Frequency

Percent

Valid Percent

Cumulative Percent


Interpretation:

From the above chart we get the result as the best service of

portfolio management is provided by India Infoline which is good

other than various broking firms.

10. CUSTOMERS RELATIONSHIP

10.INFO C.R.

10.MOTI C.R.

10. I BULLS C.R.

10.IL&FS C.R.

10.SK C.R.

N Valid 100 100 100 100 100Missing 0 0 0 0 0


Frequency Table

10.INFO CUSTOMER RELATIONSHIP.

Frequency

Percent

Valid Percent

Cumulative Percent

Valid


36 36.0 36.0 100.0

Total 100 100.0 100.0

10.MOTILAL OSWAL CUSTOMER RELATIONSHIP

Frequency

Percent

Valid Percent

Cumulative Percent

Valid


13 13.0 13.0 100.0

Total 100 100.0 100.0

10. INDIA BULLS CUSTOMER RELATIONSHIP

Frequency

Percent

Valid Percent

Cumulative Percent

Valid


13 13.0 13.0 100.0

Total 100 100.0 100.0

10.IL&FS CUSTOMER RELATIONSHIP

Frequency

Percent

Valid Percent

Cumulative Percent

Valid


28 28.0 28.0 100.0

Total 100 100.0 100.0

10.SHARE KHAN CUSTOMER RELATIONSHIP

Frequency

Percent

Valid Percent

Cumulative Percent

Vali

d


7 7.0 7.0 100.0

Total 100 100.0 100.0

Interpretation:

From the above graph we can see that about 36% is for India

Infoline and then comes IL&FS with 28%.

From the frequency distribution we can say that mean is 3.72,

which is high compare to other broking firms. So we can say that

India Infoline provide better customer relation services.

11. What extra services you want from broking firms?

11.PAYMENT11.PERSONAL SERVICES 11.RESEARCH 11.VALUE

11. OTHERS

NValid 100 100 100 100 100Missing0 0 0 0 0

Mean 0.9 0.15 0.46 0.12 0Median 1 0 0 0 0Mode 1 0 0 0 0Std. Deviation 0.302 0.359 0.501 0.327 0

Frequency Table

11.PAYMENT

Frequency

Percent

Valid Percent

Cumulative Percent

Valid

NO SERVICES PREFERED

10 10.0 10.0 10.0

PREFERABLE SERVICES

90 90.0 90.0 100.0

Total 100 100.0 100.0

11.PERSONAL SERVICES

Frequency

Percent

Valid Percent

Cumulative Percent

Valid


85 85.0 85.0 85.0

PREFERABLE SERVICES

15 15.0 15.0 100.0

Total 100 100.0 100.0

11.RESEARCH

Frequency

Percent

Valid Percent

Cumulative Percent

Valid


54 54.0 54.0 54.0

PREFERABLE SERVICES

46 46.0 46.0 100.0

Total 100 100.0 100.0

11.VALUE ADDITION

Frequency

Percent

Valid Percent

Cumulative Percent

Valid


88 88.0 88.0 88.0

PREFERABLE SERVICES

12 12.0 12.0 100.0

Total 100 100.0 100.0

Interpretation:

Investors want some extra services from the broking firms so

the most preferred services are the timely payments and regular

research, which are preferred by the investors.

12. If you want to shift on to other broking firm, what are

your criterions?

12.

BROKGE

12.MARGIN

MONEY

12.ADV

SER

12.

SOFTWARE

12.

DISTANCE

12.

OTHERS

N Valid 100 100 100 100 100 100

Missing0 0 0 0 0 0

Mean 0.71 0.2 0.4 0.21 0.3 0

Median 1 0 0 0 0 0

Mode 1 0 0 0 0 0

Std.

Deviatio

n 0.456 0.402 0.492 0.409 0.461 0

Frequency Table

12. BROKERAGE

Frequency

Percent

Valid Percent

Cumulative Percent

Vali

d


29 29.0 29.0 29.0

PREFERABLE SERVICES

71 71.0 71.0 100.0

Total 100 100.0 100.0

12.MARGIN MONEY

Frequency

Percent

Valid Percent

Cumulative Percent

Vali

d


80 80.0 80.0 80.0

PREFERABLE SERVICES

20 20.0 20.0 100.0

Total 100 100.0 100.0

12.ADV SER

Frequency

Percent

Valid Percent

Cumulative Percent

Valid


60 60.0 60.0 60.0

PREFERABLE SERVICES

40 40.0 40.0 100.0

Total 100 100.0 100.0

12. SOFTWARE

Frequency

Percent

Valid Percent

Cumulative Percent

Valid NO SERVICES PREFERED

79 79.0 79.0 79.0

PREFERABLE SERVICES

21 21.0 21.0 100.0

Total 100 100.0 100.0

12. DISTANCE

Frequency

Percent

Valid Percent

Cumulative Percent

Valid NO SERVICES PREFERED

70 70.0 70.0 70.0

PREFERABLE SERVICES

30 30.0 30.0 100.0

Total 100 100.0 100.0

Interpretation

From the above graph we can say that the basic parameters,

which are selected for shifting of the broking firms, would be

brokerage charges, advisory services. Even distance also matters

the most, as the investors prefer the firm to be near their house.

FINDINGS:

I. Investors are interested in investing in capital market and majority

belongs to age 31 to 40 and they are service class as well as

business class people.

II. Basically the respondents invest in equities as well as mutual funds.

III. The respondents are aware of the broking firms and many of them

invest in more than one broking firms.

IV. The respondents prefer intraday trading and delivery based trading.

V. The respondents prefer basic services from the broking firms such

as effective services, offline services, advisory services, and

negotiable brokerages, assured returns form investment.

VI. There are unique services provided by the broking firms that attract

the customers towards the broking firms.

VII. The broking firms thus provide some special services so that the

customers are satisfied and do not shift to other broking firm.

VIII. The services include timely payments, regular research, advisory

services, distance etc.

CONCLUSION:

1. Investors rather prefer to invest for short duration and trade

on intraday basis.

2. People are aware of the broking firms and thus are

interested in brokerages, offline services, margin money as

well as day-to-day advisory services.

3. If we talk about the broking firms, every firm has its unique

features. There is no product differentiation provided by

various firms but the brand name also matters for them.

4. The investor wants services such as frequent investors

meet, better advisory services, etc, provided by the broking

firms matters the most.

5. Thus due to online trading there is need of broking firms and

they provide better services so that the customers do not

shift to other firms.

RECOMMENDATIONS

1. From the above findings we can say that India Infoline is providing

better services such as offline service, portfolio management,

customer relationship etc. in compare to other companies. But

should give importance to the brokerage charges and even

provide better online services.

2. India Infoline must give emphasis on customer satisfaction by

providing better advisory services as well as regular investors

meetings.

3. The company must look forward to the brokerage charges, which

is comparatively high from other firms.

BIBLIOGRAPHY

Books

Donald R. Cooper & Pamela S. Schindler(2004), Business Reasearch

Methods, Tata McGraw-Hill Publishing Company Limited, New Delhi.

N D Vohra & B R Bagri, FUTURES AND OPTIONS 2ND editions, Tata McGraw-

Hill Publishing Company Limited, New Delhi.

NCFM, Derivatives Market (Dealers) Module Work Book, National Stock

Exchange Of India Limited, Mumbai.

Other:

BUSINESS TODAY date 17th July 2007

APPENDIX

QUESTIONNAIRE

Area: -__________ Date: -__ /__ /__

Personal Detail

Name : ____________________________________________________

Address : __________________________________________________

Gender: Male / Female

Age: 19 – 30 31 – 40 41 – 50 Above 50

Occupation:

Student Housewife Business

Service Professionals Others

Annual Income:

50000-100000 Rs.

100001-200000 Rs.

200001-500000 Rs.

More than 500001 Rs

QUESTIONNAIRE:

1. Do you invest in capital market?

( ) Yes ( ) No

2. Which investments do you prefer the most profitable?

( ) Equities ( ) Derivatives ( ) Commodities ( ) Insurance

( ) Mutual funds ( ) Fixed deposits ( ) Government Bonds (

) Real estate

( ) Others then specify__________

3. Which broking firm comes to your mind first while making

investment?

-----------------------------------------------------------------------------

4. Are you aware of following broking firms?

( ) India Infoline ( ) India Bulls ( ) IL&FS ( ) Share khan

( ) Motilal Oswal ( ) any other then specify_________________

5. Do you trade with the following broking firm?

( ) Yes ( ) No

6. How frequently do you trade?

( ) Daily ( ) Twice in a week ( ) Alternative day ( )

weekly

( ) Rarely

7. Please indicate your preference for the following in selection of

broking firm.

1 = most preferable to 5 = least preferable

* Effective service 1 2 3 4 5

* Its reliability 1 2 3 4 5

* Employees courtesy 1 2 3 4 5

* Offline service 1 2 3 4 5

* Advisory service 1 2 3 4 5

* Online service (SOFTWARE) 1 2 3 4 5

8. Which parameters do you consider important in selection of

broking firm?

* Brokerages 1 2 3 4 5

* DP charges 1 2 3 4 5

* Risk 1 2 3 4 5

*Tax charged by the broking firm 1 2 3 4 5

*Assured Return from investment 1 2 3 4 5

9. Have you utilized the trading facility of more than one broking

firm?

( ) Yes ( ) No

If Yes then specify___________________

10. Rate the broking firms in given criterions.

1 = Very good, 2 = good, 3 = neutral, 4 = bad, 5= worst

CRITERION INDIA

INFOLINE

MOTILAL

OSWAL

INDIA

BULLS

IL&FS SHAREKHAN

BROKERAGE

SERVICES

1.

INVESTMENT

ADVISORY

SERVICES

2. ONLINE

SOFTWARE

3. OFFLINE

SERVICES

4. PORTFOLIO

MANAGEMENT

5. CUSTOMER

RELATIONSHIP

USER FRENDLY

11. What extra services you want from broking firms?

( ) Timely Payment and delivery

( ) Personal services{ Frequent meets, seminars and guidance}

( ) Regular research and correspondence to customers

( ) Value addition( like loans, merchant banking)

( ) If others then specify ----------------------------------------

12. If you want to shift on to other broking firm, what are your

criterions?

( ) Brokerages ( ) Margin Money ( ) Advisory

services

( ) Easy software ( ) Distance

( ) If other then specify_______________

Thank you

report

Documents

retail investors

theselection of broking

broking firmsso

brokerage fees

indian industry

lot of brokerage companies

advisory services

broking houses withthe