shivangi internship project

8/21/2019 Shivangi Internship Project

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Summer I nternship Project Report

ON

Comparative study of Authorised person/sub-broker of Raghunandan Money and

other broking companies.

I SO 9001:2000 CERTIF I ED

MAK ING MORE POSSIBI LI TIES FOR FINANCIAL MARKETS

A report submitted toAsian Business School, Noida

as a partial fulfillment of Full time

Post Graduate Diploma in Management (PGDM)(Approved by AICTE, Ministry of HRD)

Submitted to : Ms. Sunita Verma Submitted by :Shivangi MishraBatch :PGDM(2012-2014)Roll No. :0B12100

(2012-14)

Asian Business School (ABS)

A2, Sector125, Noida

Website : www.abs.edu.in


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ACKNOWLEDGEMENT

I wish to express my deep gratitude to Mr.Rupesh Verma & Mr.Jalaj Rai for acting as a guideand providing me with continuous support and guidance. It gives me great pleasure in presenting

this report to the ASIAN BUINESS SCHOOL.This report could not have been completedwithout the inputs and the words of advice from his far which I shall always remain grateful tothem I wish gratitude to my members of Department of Management, for taking Interest in myproject work when required. I fall short of words to express my gratitude to RaghunandanIndustries Pvt. Ltd., Lucknow for giving me the opportunity to work in this prestigiousorganization. I acknowledge my deep sense of gratitude to Mr.Rupesh Verma &Mr. Jalaj Rai forhis generous guidance & advice before and also in analyzing the work. My overriding debt is tomy parents who provide me with the moral support & inspiration needed to prepare this report.

SHIVANGI MISHRA


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EXECUTIVE SUMMARY

The present report is prepared for the partial of PGDM and as a part of curriculum. The survey isan attempt to determine and analyze the market condition of RAGHUNANDAN INDUSTRYPVT.LTD. To pursue this research, Lucknow was choosen, where the survey was conductedthrough telephonic interview along with personal interaction with A.Ps (Authorized Person).

The data collection is analyzed and some practical tools were applied to get inference from thesurvey.

The research report has two sections in its first section company and industry profile is given,where as second section research methodology is given which includes sample design analysison sample & presentation is in the form of diagram and charts.

This project gave me a great learning experience and at a same time it gave me enough scope toimplement my analytical ability. The analysis and advice presented in this project is based onmarket research on the basis of saving and investment.

This internship program helped me in building strong forte in the field of Portfolio Management.This gave me in-depth knowledge related to basic financial terms such as stock market , mutualfund and insurance .


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CERTIFICATE

This is to certify that Ms. SHIVANGI MISHRA a student of ASIAN BUSINESSSCHOOL has completed project work on COMPARITIVE STUDY OF

AUTHORISED PERSON/SUB-BROKER OF RAGHUNANDAN MONEY &OTHER BROKING COMPANIES under my guidance and supervision.

Date- Mr. Rupesh VermaRaghunandan Money

Office No:6, Ground Floor

Saran Chamber-1

5-Park Road

Hazratganj, Lucknow- 226001


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DECLARATION

I hereby declare that this Project Report entitled Comparitive study of Authorised Person/Sub-broker of Raghunandan Money and other Broking Companies submitted in thesummer internship report of POST GRADUATE DIPLOMA IN MANAGEMENT(PGDM) of ASIAN BUSINESS SCHOOL, NOIDA is based on primary & secondary data

found by me through various departments , personal interviews and websites collected byme under guidance of MR. RUPESH VERMA & MR.JALAJ RAI.

DATE: SHIVANGI MISHRA

PGDM(2012-2014)


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TABLE OF CONTENTS

1. EXECUTIVE SUMMARY 3

2. INTRODUCTION 9

3. INDUSTRY PROFILE 10-15

4. OBJECTIVES & SCOPE 16

5. RESEARCH METHODOLOGY 17

6. LITERATURE REVIEW 18-46

7. DATA ANALYSIS AND INTERPRETATION 47-55

8. CONCLUSIONS 56

9.

QUESTIONAIRE 57

10.BIBLIOGRAPHY 58


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INTRODUCTION

STOCK M ARKET

A stock marketis a public market for thetrading ofcompanystock andderivatives at an agreedprice; these aresecurities listed on astock exchange as well as those only traded privately.

The size of the world stock market was estimated at about $36.6 trillion US at the beginning ofOctober 2008.The totalworld derivatives market has been estimated at about $791 trillion faceor nominal value, 11 times the size of the entire world economy. The value of the derivativesmarket, because it is stated in terms ofnotional values,cannot be directly compared to a stock ora fixed income security, which traditionally refers to anactual value.

Moreover, the vast majority of derivatives 'cancel' each other out (i.e., a derivative 'bet' on an

event occurring is offset by a comparable derivative 'bet' on the event notoccurring.).

Many such relatively illiquid securities are valued as marked to model, rather than an actualmarket price. The stocks are listed and traded on stock exchanges which are entities of acorporation or mutual organization specialized in the business of bringing buyers and sellers ofthe organizations to a listing of stocks and securities together.

The stock market in the United States includes the trading of all securities listed on theNYSEEuronext,theNASDAQ,theAmex,as well as on the many regional exchanges, e.g.OTCBB andPink Sheets. European examples of stock exchanges include the London Stock Exchange, theDeutsche Brse.

HISTORY

In 12th century France the courretiers de changewere concerned with managing and regulatingthe debts of agricultural communities on behalf of the banks. Because these men also traded withdebts, they could be called the firstbrokers. A common misbelief is that in late 13thcenturyBruges commodity traders gathered inside the house of a man called Van der Beurze,and in 1309 they became the "Brugse Beurse", institutionalizing what had been, until then, aninformal meeting, but actually, the family Van der Beurze had a building inAntwerp where

those gatherings occurred;

[7]

the Van der Beurze had Antwerp, as most of the merchants of thatperiod, as their primary place for trading. The idea quickly spread aroundFlanders andneighboring counties and "Beurzen" soon opened inGhent andRotterdam.

In the middle of the 13th century,Venetianbankers began to trade in government securities. In1351 the Venetian government outlawed spreading rumors intended to lower the price ofgovernment funds. Bankers inPisa,Verona,Genoa andFlorence also began trading in
http://en.wikipedia.org/wiki/Tradehttp://en.wikipedia.org/wiki/Corporationhttp://en.wikipedia.org/wiki/Stockhttp://en.wikipedia.org/wiki/Derivative_(finance)http://en.wikipedia.org/wiki/Security_(finance)http://en.wikipedia.org/wiki/Stock_exchangehttp://en.wikipedia.org/wiki/Notional_amounthttp://en.wikipedia.org/wiki/Notional_amounthttp://en.wikipedia.org/wiki/Notional_amounthttp://en.wikipedia.org/wiki/Actual_cash_valuehttp://en.wikipedia.org/wiki/Mark_to_modelhttp://en.wikipedia.org/wiki/NYSE_Euronexthttp://en.wikipedia.org/wiki/NYSE_Euronexthttp://en.wikipedia.org/wiki/NASDAQhttp://en.wikipedia.org/wiki/American_Stock_Exchangehttp://en.wikipedia.org/wiki/OTC_Bulletin_Boardhttp://en.wikipedia.org/wiki/London_Stock_Exchangehttp://en.wikipedia.org/wiki/Deutsche_B%C3%B6rsehttp://en.wikipedia.org/wiki/Stockbrokershttp://en.wikipedia.org/wiki/Brugeshttp://en.wikipedia.org/wiki/Antwerphttp://en.wikipedia.org/wiki/Stock_market#cite_note-7http://en.wikipedia.org/wiki/Stock_market#cite_note-7http://en.wikipedia.org/wiki/Stock_market#cite_note-7http://en.wikipedia.org/wiki/Flandershttp://en.wikipedia.org/wiki/Ghenthttp://en.wikipedia.org/wiki/Rotterdamhttp://en.wikipedia.org/wiki/Venicehttp://en.wikipedia.org/wiki/Pisahttp://en.wikipedia.org/wiki/Veronahttp://en.wikipedia.org/wiki/Genoahttp://en.wikipedia.org/wiki/Florencehttp://en.wikipedia.org/wiki/Florencehttp://en.wikipedia.org/wiki/Genoahttp://en.wikipedia.org/wiki/Veronahttp://en.wikipedia.org/wiki/Pisahttp://en.wikipedia.org/wiki/Venicehttp://en.wikipedia.org/wiki/Rotterdamhttp://en.wikipedia.org/wiki/Ghenthttp://en.wikipedia.org/wiki/Flandershttp://en.wikipedia.org/wiki/Stock_market#cite_note-7http://en.wikipedia.org/wiki/Antwerphttp://en.wikipedia.org/wiki/Brugeshttp://en.wikipedia.org/wiki/Stockbrokershttp://en.wikipedia.org/wiki/Deutsche_B%C3%B6rsehttp://en.wikipedia.org/wiki/London_Stock_Exchangehttp://en.wikipedia.org/wiki/OTC_Bulletin_Boardhttp://en.wikipedia.org/wiki/American_Stock_Exchangehttp://en.wikipedia.org/wiki/NASDAQhttp://en.wikipedia.org/wiki/NYSE_Euronexthttp://en.wikipedia.org/wiki/NYSE_Euronexthttp://en.wikipedia.org/wiki/Mark_to_modelhttp://en.wikipedia.org/wiki/Actual_cash_valuehttp://en.wikipedia.org/wiki/Notional_amounthttp://en.wikipedia.org/wiki/Stock_exchangehttp://en.wikipedia.org/wiki/Security_(finance)http://en.wikipedia.org/wiki/Derivative_(finance)http://en.wikipedia.org/wiki/Stockhttp://en.wikipedia.org/wiki/Corporationhttp://en.wikipedia.org/wiki/Trade


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government securities during the 14th century. This was only possible because these wereindependent city states not ruled by a duke but a council of influential citizens. Italian companieswere also the first to issue shares. Companies in England and the Low Countries followed in the16th century.

The Dutch East India Company (founded in 1602) was the first joint-stock company to get afixed capital stock and as a result, continuous trade in company stock occurred on theAmsterdam Exchange. Soon thereafter, a lively trade in variousderivatives, among whichoptions and repos, emerged on theAmsterdammarket.

Dutch traders also pioneeredshort selling - a practice which was banned by the Dutchauthorities as early as 1610.

FUNCTI ON AND PURPOSE

The stock marketis one of the most important sources forcompanies to raise money. Thisallows businesses to be publicly traded, or raise additional financial capital for expansion byselling shares of ownership of the company in a public market. Theliquidity that an exchangeaffords the investors gives them the ability to quickly and easily sell securities. This is anattractive feature of investing in stocks, compared to other less liquid investments. Somecompanies actively increase liquidity by trading in their own shares.

History has shown that the price ofshares and other assets is an important part of the dynamicsof economic activity, and can influence or be an indicator of social mood. An economy wherethe stock market is on the rise is considered to be an up-and-coming economy. In fact, the stock

market is often considered the primary indicator of a country's economic strength anddevelopment.

Rising share prices, for instance, tend to be associated with increased business investment andvice versa. Share prices also affect the wealth of households and their consumption.Therefore,central banks tend to keep an eye on the control and behavior of the stock market and,in general, on the smooth operation offinancial system functions. Financial stability is theraisond'tre of central banks.

Exchanges also act as the clearinghouse for each transaction, meaning that they collect anddeliver the shares, and guarantee payment to the seller of a security. This eliminates the risk to anindividual buyer or seller that thecounterparty could default on the transaction.

The smooth functioning of all these activities facilitateseconomic growth in that lower costs andenterprise risks promote the production of goods and services as well as possibly employment. Inthis way the financial system is assumed to contribute to increased prosperity
http://en.wikipedia.org/wiki/Dutch_East_India_Companyhttp://en.wikipedia.org/wiki/Joint-stock_companyhttp://en.wikipedia.org/wiki/Derivative_(finance)http://en.wikipedia.org/wiki/Amsterdamhttp://en.wikipedia.org/wiki/Short_(finance)http://en.wikipedia.org/wiki/Companieshttp://en.wikipedia.org/wiki/Liquidityhttp://en.wikipedia.org/wiki/Share_(finance)http://en.wikipedia.org/wiki/Central_bankhttp://en.wikipedia.org/wiki/Financial_systemhttp://en.wiktionary.org/wiki/raison_d%27%C3%AAtrehttp://en.wiktionary.org/wiki/raison_d%27%C3%AAtrehttp://en.wikipedia.org/wiki/Counterpartyhttp://en.wikipedia.org/wiki/Economic_growthhttp://en.wikipedia.org/wiki/Economic_growthhttp://en.wikipedia.org/wiki/Counterpartyhttp://en.wiktionary.org/wiki/raison_d%27%C3%AAtrehttp://en.wiktionary.org/wiki/raison_d%27%C3%AAtrehttp://en.wikipedia.org/wiki/Financial_systemhttp://en.wikipedia.org/wiki/Central_bankhttp://en.wikipedia.org/wiki/Share_(finance)http://en.wikipedia.org/wiki/Liquidityhttp://en.wikipedia.org/wiki/Companieshttp://en.wikipedia.org/wiki/Short_(finance)http://en.wikipedia.org/wiki/Amsterdamhttp://en.wikipedia.org/wiki/Derivative_(finance)http://en.wikipedia.org/wiki/Joint-stock_companyhttp://en.wikipedia.org/wiki/Dutch_East_India_Company


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INDUSTRY PROFILE

BOMBAY STOCK EXCH ANGES

This stock exchange, Mumbai,popularly known as BSE was established in 1875 as TheNative share and stock brokers association, as a voluntary non- profit making association.

It has an evolved over the years into its present status as the premiere stock exchange in thecountry. It may be noted that the stock exchanges the oldest one in Asia, even older than theTokyo Stock Exchange, which was founded in 1878.

The exchange, while providing an efficient and transparent market for trading in securities,upholds the interests of the investors and ensures redressed of their grievances, whether againstthe companies or its own member brokers.

It also strives to educate and enlighten the investors by making available necessary informativeinputs and conducting investor education programmers.

A governing board comprising of 9 elected directors, 2 SEBI nominees, 7 public representativesand an executive director is the apex body, which decides the policies and regulates the affairs ofthe exchange.

The Executive director as the chief executive officer is responsible for the day today

administration of the exchange. The average daily turnover of the exchange during the year2000-01(April-March) was Rs 3984.19 crores and average number of daily trades 5.69 Lakhs.

However the average daily turnover of the exchange during the year 2001-02 has declined to Rs.1244.10 crores and number of average daily trades during the period to 5.17 Lakhs.

The average daily turnover of the exchange during the year 2002-03 has declined and number ofaverage daily trades during the period is also decreased.

The Ban on all deferral products like BLESS AND ALBM in the Indian capital markets by SEBIwith effect from July 2, 2001, abolition of account period settlements, introduction of

compulsory rolling settlements in all scripts traded on the exchanges

with effect from Dec 31, 2001, etc., have adversely impacted the liquidity andconsequently there is a considerable decline in the daily turnover at the exchange.The average daily turnover of the exchange present scenario is 110363(laces) andnumber of average da ily trades 1057(laces).


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BSE I NDI CES

In order to enable the market participants, analysts etc., to track the various ups and downs in theIndian stock market, the Exchange has introduced in 1986 an equity stock index called BSE-SENSEX that subsequently became the barometer of the moments of the share prices in theIndian Stock market.

It is a Market capitalization weighted index of 30 component stocks representing a sample oflarge, well-established and leading companies. The base year of Sensex is 1978-79.

The Sensex is widely reported in both domestic and international markets through print as wellas electronic media. Sensex is calculated using a market capitalization weighted method.

As per this methodology, the level of the index reflects the total market value of all 30-component stocks from different industries related to particular base period. The total marketvalue of a company is determined by multiplying the price of its stock by the number of sharesoutstanding.

Statisticians call an index of a set of combined variables (such as price and number of shares) acomposite Index. An Indexed number is used to represent the results of this calculation in orderto make the value easier to work with and track over a time.

It is much easier to graph a chart based on Indexed values than one based on actual values worldover majority of the well-known Indices are constructed using Market capitalization weightedmethod.

In practice, the daily calculation of SENSEX is done by dividing the aggregate market value ofthe 30 companies in the Index by a number called the Index Divisor. The Divisor is the only linkto the original base period value of the SENSEX. The Divisor keeps the Index comparable over aperiod or time and if the reference point for the entire Index maintenance adjustments.

SENSEX is widely used to describe the mood in the Indian Stock markets. Base year average ischanged as per the formula new base year average = old base year average*(new marketvalue/old market value).

NATI ONAL STOCK EXCHANGE

The NSE was incorporated in Now 1992 with an equity capital of Rs 25 crores. The Internationalsecurities consultancy (ISC) of Hong Kong has helped in setting up NSE.

ISE has prepared the detailed business plans and installation of hardware and software systems.The promotions for NSE were financial institutions, insurances companies, banks and SEBIcapital market ltd, Infrastructure leasing and financial services ltd and stock holding corporationltd.

It has been set up to strengthen the move towards professionalisation of the capital market aswell as provide nation wide securities trading facilities to investors.NSE is not an exchange inthe traditional sense where brokers own and manage the exchange.


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A two tier administrative set up involving a company board and a governing aboard of theexchange is envisaged.NSE is a national market for shares PSU bonds, debentures andgovernment securities since infrastructure and trading facilities are provided.

NSE-NIFTY

The NSE on April 22, 1996 launched a new equity Index. The NSE-50. The new index, whichreplaces the existing NSE-100 index, is expected to serve as an appropriate Index for the newsegment of futures and options.

Nifty means National Index for Fifty Stocks. The NSE-50 comprises 50 companies thatrepresent 20 broad Industry groups with an aggregate market capitalization of around Rs.1,70,000 crs.

All companies included in the Index have a market capitalization in excess of Rs 500 crs eachand should have traded for 85% of trading days at an impact cost of less than 1.5%.

The base period for the index is the close of prices on Nov 3, 1995, which makes one year ofcompletion of operation of NSEs capital market segment. The base value of the Index has beenset at 1000.

NSE-MIDCAP INDEX

The base period for the index is Nov 4, 1996, which signifies two years for completion ofoperations of the capital market segment of the operations. The base value of the Index has beenset at 1000. The NSE madcap Index or the Junior Nifty comprises 50 stocks that represents 21aboard Industry groups and will provide proper representation of the madcap segment of the

Indian capital Market.

All stocks in the index should have market capitalization of greater than Rs.200 crores andshould have traded 85% of the trading days at an impact cost of less 2.5%.

Average daily turnover of the present scenario 258212 (Laces) and number of averages dailytrades 2160(Laces). At present, there are 24 stock exchanges recognized under the securitiescontract (regulation) Act, 1956. They are:-

NAM ES OF TH E STOCK EXCHANGS

Bombay Stock Exchange (BSE)

National Stock Exchange of India (NSE)

Indian Commodity Exchange (ICEX)

United Stock Exchange of India (USE)

Multi Commodity Exchange (MCX)
http://en.wikipedia.org/wiki/Bombay_Stock_Exchangehttp://en.wikipedia.org/wiki/National_Stock_Exchange_of_Indiahttp://en.wikipedia.org/w/index.php?title=Indian_Commodity_Exchange&action=edit&redlink=1http://en.wikipedia.org/wiki/United_Stock_Exchange_of_Indiahttp://en.wikipedia.org/wiki/Multi_Commodity_Exchangehttp://en.wikipedia.org/wiki/Multi_Commodity_Exchangehttp://en.wikipedia.org/wiki/United_Stock_Exchange_of_Indiahttp://en.wikipedia.org/w/index.php?title=Indian_Commodity_Exchange&action=edit&redlink=1http://en.wikipedia.org/wiki/National_Stock_Exchange_of_Indiahttp://en.wikipedia.org/wiki/Bombay_Stock_Exchange


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Over the Counter Exchange of India (OTCEI)

Inter-connected Stock Exchange of India (ISE)

Madras Stock Exchange (MSE)

Coimbatore Stock Exchange (CSX)

Ahmedabad Stock Exchange (ASE)

Bhubaneshwar Stock Exchange (BhSE)

Cochin Stock Exchange (CSE)

Hyderabad Stock Exchange (HSE)

Calcutta Stock Exchange (CSE)

Delhi Stock Exchange (DSE)

Bangalore Stock Exchange

Madhya Pradesh Stock Exchange,Indore

Jaipur Stock Exchange (JSE)

Magadh Stock Exchange,Patna

UP Stock Exchange (UPSE)

Vadodara Stock Exchange,Vadodara (VSE)

Guwahati Stock Exchange Ltd Ludhiana Stock Exchange Association Ltd

Kanara Stock Exchange Ltd

Mangalore Stock Exchange Ltd

Pune Stock Exchange Ltd

Saurashtra Kutch Stock Exchange Ltd

Meerut Stock Exchange Ltd

Intrex Trade Exchange Ltd

United Stock Exchange of India

COMMODITY EXCHANGE

1. Multi Commodity Exchange of India Limited (MCX)

2.National Commodity & Derivatives Exchange Limited (NCDEX)

3. Indian National Multi-Commodity Exchange (NMCE)

4. Commodity Exchange LimitedICEX.
http://en.wikipedia.org/wiki/OTC_Exchange_of_Indiahttp://en.wikipedia.org/wiki/Inter-connected_Stock_Exchange_of_Indiahttp://en.wikipedia.org/wiki/Madras_Stock_Exchangehttp://en.wikipedia.org/wiki/Coimbatore_Stock_Exchangehttp://en.wikipedia.org/wiki/Ahmedabad_Stock_Exchangehttp://en.wikipedia.org/wiki/Bhubaneshwar_Stock_Exchangehttp://en.wikipedia.org/wiki/Cochin_Stock_Exchangehttp://en.wikipedia.org/wiki/Hyderabad_Stock_Exchangehttp://en.wikipedia.org/wiki/Calcutta_Stock_Exchange_Association_Limitedhttp://en.wikipedia.org/wiki/Delhi_Stock_Exchange_Associationhttp://en.wikipedia.org/wiki/Bangalore_Stock_Exchangehttp://en.wikipedia.org/wiki/Madhya_Pradesh_Stock_Exchangehttp://en.wikipedia.org/wiki/Jaipur_Stock_Exchangehttp://en.wikipedia.org/wiki/Magadh_Stock_Exchangehttp://en.wikipedia.org/wiki/UP_Stock_Exchangehttp://en.wikipedia.org/wiki/Vadodara_Stock_Exchangehttp://en.wikipedia.org/w/index.php?title=Guwahati_Stock_Exchange_Ltd&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Ludhiana_Stock_Exchange_Association_Ltd&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Kanara_Stock_Exchange_Ltd&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Mangalore_Stock_Exchange_Ltd&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Pune_Stock_Exchange_Ltd&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Saurashtra_Kutch_Stock_Exchange_Ltd&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Meerut_Stock_Exchange_Ltd&action=edit&redlink=1http://en.wikipedia.org/wiki/Intrex_Trade_Exchange_Ltdhttp://en.wikipedia.org/wiki/United_Stock_Exchange_of_Indiahttp://en.wikipedia.org/wiki/MCX_Stock_Exchangehttp://en.wikipedia.org/w/index.php?title=Indian_Commodity_Exchange&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Indian_Commodity_Exchange&action=edit&redlink=1http://en.wikipedia.org/wiki/MCX_Stock_Exchangehttp://en.wikipedia.org/wiki/United_Stock_Exchange_of_Indiahttp://en.wikipedia.org/wiki/Intrex_Trade_Exchange_Ltdhttp://en.wikipedia.org/w/index.php?title=Meerut_Stock_Exchange_Ltd&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Saurashtra_Kutch_Stock_Exchange_Ltd&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Pune_Stock_Exchange_Ltd&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Mangalore_Stock_Exchange_Ltd&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Kanara_Stock_Exchange_Ltd&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Ludhiana_Stock_Exchange_Association_Ltd&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Guwahati_Stock_Exchange_Ltd&action=edit&redlink=1http://en.wikipedia.org/wiki/Vadodara_Stock_Exchangehttp://en.wikipedia.org/wiki/UP_Stock_Exchangehttp://en.wikipedia.org/wiki/Magadh_Stock_Exchangehttp://en.wikipedia.org/wiki/Jaipur_Stock_Exchangehttp://en.wikipedia.org/wiki/Madhya_Pradesh_Stock_Exchangehttp://en.wikipedia.org/wiki/Bangalore_Stock_Exchangehttp://en.wikipedia.org/wiki/Delhi_Stock_Exchange_Associationhttp://en.wikipedia.org/wiki/Calcutta_Stock_Exchange_Association_Limitedhttp://en.wikipedia.org/wiki/Hyderabad_Stock_Exchangehttp://en.wikipedia.org/wiki/Cochin_Stock_Exchangehttp://en.wikipedia.org/wiki/Bhubaneshwar_Stock_Exchangehttp://en.wikipedia.org/wiki/Ahmedabad_Stock_Exchangehttp://en.wikipedia.org/wiki/Coimbatore_Stock_Exchangehttp://en.wikipedia.org/wiki/Madras_Stock_Exchangehttp://en.wikipedia.org/wiki/Inter-connected_Stock_Exchange_of_Indiahttp://en.wikipedia.org/wiki/OTC_Exchange_of_India


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OBJECTIVES OF STUDY

Primary Objective:

To undertake a comparative study on Authorized Persons service at Raghunandan

Pvt Ltd in comparison to other broking companies.

To analyze the services provided by Raghunandan Pvt Ltd Authorized Persons to itscustomer.

Secondary Objective:

To understand the position of Authorized Person in stock Market.

To summarize the process carried out to influence customers to invest.


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METHODOLOGY

In order to achieve the above stated objective a detailed analysis of stock marketwas conducted based upon secondary data along with collection of some primary

data.

Data Collection:

Primary Data :In order to accomplish above stated objective data was collected throughquestionnaire given to APs of Raghunandan Money.

Secondary Data : Apart from the primary data collected through questionnaire thedata was also extracted from various sources such as magazines to form asubstantial based of literature review.

Sampling Technique: Convenience Technique

What is convenience Technique?

A statisticalmethod ofdrawingrepresentativedataby selecting people because of the ease oftheir volunteering or selectingunitsbecause of theiravailability or easyaccess.Theadvantagesof this type ofsampling are the availability and the quickness with which data can be gathered.Thedisadvantages are therisk that thesample might notrepresent thepopulation as a whole, and

it might be biased byvolunteers.

Sample Unit: LUCKNOW

Sample Size: 20

Data Analysis And Interpretation : Data analysis and interpretation is done through pie chart andBar diagram.
http://www.businessdictionary.com/definition/method.htmlhttp://www.businessdictionary.com/definition/drawer.htmlhttp://www.businessdictionary.com/definition/representative.htmlhttp://www.businessdictionary.com/definition/data.htmlhttp://www.businessdictionary.com/definition/unit.htmlhttp://www.businessdictionary.com/definition/availability.htmlhttp://www.businessdictionary.com/definition/access.htmlhttp://www.businessdictionary.com/definition/advantage.htmlhttp://www.businessdictionary.com/definition/sampling.htmlhttp://www.businessdictionary.com/definition/disadvantage.htmlhttp://www.businessdictionary.com/definition/risk.htmlhttp://www.businessdictionary.com/definition/sample.htmlhttp://www.businessdictionary.com/definition/represent.htmlhttp://www.businessdictionary.com/definition/population.htmlhttp://www.businessdictionary.com/definition/volunteer.htmlhttp://oascentral.businessdictionary.com/RealMedia/ads/click_lx.ads/www.businessdictionary.com/businessdictionary/banking_standalone/256398615/Bottom/default/empty.gif/632f496b574647336235594144727643?xhttp://www.businessdictionary.com/definition/volunteer.htmlhttp://www.businessdictionary.com/definition/population.htmlhttp://www.businessdictionary.com/definition/represent.htmlhttp://www.businessdictionary.com/definition/sample.htmlhttp://www.businessdictionary.com/definition/risk.htmlhttp://www.businessdictionary.com/definition/disadvantage.htmlhttp://www.businessdictionary.com/definition/sampling.htmlhttp://www.businessdictionary.com/definition/advantage.htmlhttp://www.businessdictionary.com/definition/access.htmlhttp://www.businessdictionary.com/definition/availability.htmlhttp://www.businessdictionary.com/definition/unit.htmlhttp://www.businessdictionary.com/definition/data.htmlhttp://www.businessdictionary.com/definition/representative.htmlhttp://www.businessdictionary.com/definition/drawer.htmlhttp://www.businessdictionary.com/definition/method.html


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LIMITATIONS OF STUDY

1. The time constraint was one of the major problems.

2. The study is limited to the different schemes available under the mutual funds selected.

3. The study is limited to selected authorised persons services provided by Rghunandan Moneyand other companies.

4. The lack of information sources for the analysis part.


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Literature Review

Role of Stock market for economic development

There might be no consensus about the important role played by Stock markets in any giveneconomy and the ability of these markets in steering that economy into certain economic cyclesthat ensure enhancing the growth of national economies. Stock markets also play an importantrole in shaping the financial, economic and monetary policies, plans and programmes.The establishment of stock markets in Arab countries came in line with the Arab governments'policies and programmes. It came also after such governments realised the importance of the role

played by such markets in enhancing the comprehensive development processes taking place intheir countries especially the capital market experience in many countries has been verysuccessful.It is a truth universally acknowledged that economic development at any country would requirelarge capitals to achieve the prospective growth rates in their budgets. Stock markets maytherefore become the ideal mean for collecting funds and channeling them into the differentinvestment channels. They may also act as communication links among the sectors that havesurpluses and other sectors that are in need for liquidity to fund their investments. This balancewill definitely bring benefits to any country.The main role of the stock markets is thus to avail funds needed to finance the projects promotedby existing or under development at reasonable terms that bring benefits for everyone.

Due to lack of financial resources and low capitals, especially in countries whose financialresources are limited, stock markets may be the only source and main provider for the capitals ofsuch projects.


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COMPANY PROFILE

http://www.rmoneyindia.com/

THE BACKGROUND

Raghunandan money is one of the prominent integrated financial services group providingexhaustive range of financial and investment related products to our clients and associates

The company offers a complete financial services spectrum ranging from equity, equityderivatives , Commodities derivatives, Depository services, Insurance broking, Currencyderivatives and distribution of mutual funds.Raghunandan's retail network is speard mainlyacross Uttar Pradesh, Madhya Pradesh,Uttranchal, Harayana, Delhi/NCR, Bihar, Jharkhand,Gujrat and Rajasthan and is heading towards pan India presence.

Raghunandan group is a member of NSE (Cash, F&O and Currency), BSE (Cash and F&O) ,MCX, MCX-SX, NCDEX, NMCE, ICEX , USEIL , depository participant of CDSL and directbroker (IRDA) .Raghunandan is also a member of NCDEX SPOT EXCHANGE & NSEL.

At Raghunandan, We believe in the power of knowledge and the entrepreneurial spirit thatmakes it profitable. Raghunandan has a professional management team and ranks amongst thebest in technology and operations. We at Raghunandan have been working hard to bring to the


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reach of the retail investor, the opportunities of the wealth creation presented by the financialmarkets.

Raghunandan started its operations in august 2004 with four people running the operations.Focus on customer first attitude , respect for professionalism and implementation of cutting edgetechnology has enabled us to blossom into an almost 800 member team.

Raghunandan's distribution network spreads over 300 towns and cities comprising 800 businessassociates mainly across Uttar Pradesh , Madhya Pradesh , Uttranchal ,Harayana,Delhi/NCR,Bihar,Jharkhand, Gujrat and Rajasthan and is heading towards pan Indiapresence.

MILESTONE

2004

NOVEMBER:Acquired trading cum clearing membership of MultiCommodity Exchange Ltd.

AUGUST

:Acquired Trading cum membership of NationalCommodities and DerivativesExchange ltd.

2005 AUGUST : Acquired Direct broker license approved by IRDA


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2008

NOVEMBER: Acquired trading membership of MCX Stock ExchangeLtd. in Currency futures segment

OCTOBER : Acquired trading membership of NSE (Cash and F& O )

SEPTEMBER: Acquired trading cum clearing membership of NCDEXSpot Exchange Ltd.

JULY : Acquired trading cum clearing membership of NationalSpot Exchange Ltd.

Acquired trading cum clearing membership of NationalMulti-Commodity Exchangeof India Ltd.

2009

JANUARY: Acquired trading membership of NSE in currency derivativesegment

2010

AUGUST: Acquired trading membership of united stock exchange forcurrency derivative segment

JULY : Acquired trading membership of BSE ( Cash and f & O)

JANUARY

: Acquired trading cum clearing membership of : IndianCommodity Exchange Limited

2011

AUGUST : HDFC Mutual Fund Declared us as Start Key Partner

FEBRUARY : Became the DP participant of CDSL

JANUARY : Our Company has certified by ISO 9001 : 2008


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2012

AUGUST : Implement Drishti Solutions

JULY : Register as Self Clearing Member in NSE (F&O) Segment

Sales Head Office Shifted To Noida

JANUARY : Registered Intermediary of CLV, NDML & DOTEX

Implement CRM Software Talisma in Sales

2013

MARCH : Number of Business Associates800 +

FEBRUARY : Number of Employees500 +

JANUARY : Register as Trading Member in MCX-SX Cash Segment &

As Self Clearing Memberin MCX-SX (F&O) Segment

Implement CRM Software Talisma in Operations


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SOCIAL RESPOSIBILITY

Raghunandan believes that it has a responsibility beyond its basic responsibility towards itsstake holders , a responsibility towards a larger constituently - the society .there are many whomay not be as privileged as we are and we consider it as our duty to help those deserving , toprovide them with opportunities and enhance their lives. It is an investment for the future of thesociety

We are associated with the Ekal vidhalaya foundation which is a charitable trust that initiates ,supports and runs non formal one teacher school (popularly known as Ekal vidyalayas) all overthe country with the participation of numerous non profit organization . This program hasbecome the greatest non governmental education movement in the country.


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THE PROMOTERS

MR. SAURABH MITTAL (DIRECTOR)

Founder and promoter of the Raghunandan Money Group, Mr. Saurabh Mittal is a ManagementGraduate having rich and extensive experience of more than 15 years. He has an in-depthknowledge and strong understanding of various intricacies of Financial Markets. It is through hisexceptional leadership skills and outstanding commitment towards the group that RaghunandanMoney today has become the leading Broking House with extensive client base and wide spreadnetwork of sub brokers & branches. His efforts have led to the diversification of groupbusinesses from Equity & Commodity Broking to Depository Services, IPOs & Mutual Fundsdistribution, Insurance Products, Wealth Management, Advisory Services and FinancialEducation. Under his leadership, the organization has rapidly expanded and made a widespreadpresence across India and has seamlessly grown into a financial services company par excellence

MR. KAPIL MITTAL (DIRECTOR)

Mr. Kapil Mittal, co-promoter of the company, is an Engineering and Management Graduatehaving more than 12 years of experience. He is heading the Research and Product Developmentdivision of the company. His great dedication and devotion to his work is an inspiration for histeam. A man of great intellect, his ideas have helped Raghunandan in the introduction of new

financial services such as distribution of Mutual Funds, IPOs and Insurance Products. His styleof working is highly motivational to his team members. Mr. Mittal is a person with unmatchedsharp calculative skills and analytical bent of mind.

MR. DEEPANKAR SETH (HEAD OPERATIONS)

Mr. Deepankar Seth is a fellow member of the Institute of Chartered Accountants of India (ICAI)having more that 12 years of experience in the Indian Financial Markets. Mr. Seth leads theBroking Operations of Raghunandan Group including, Back office operations, entiretechnological functioning of the business, Risk Management & Surveillance, Legal &Compliance, Corporate Communications & Brand Management and IT & Software

Development.


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MR. RAJESH KUMAR SINGH (DIRECTOR)

Mr. R K Singh is an Associate Member of Association of Certified Chartered Accountants(ACCA, UK) & a Management Graduate having diversified experience of 11 years and has

worked with the leading institutions ICICI, HDFC, UTI, SMC & most recently with IFCI. Hehas worked across all parts of India and has excelled in business development and strategy. AtRaghunandan, he is heading Business Development and Marketing division.

MEMBERSHIP

Raghunandan Capital (P) Ltd.: Member-NSE; BSE; MCX-SX; USEIL;Depository Participant (CDSL)NSE:TMID-13176 SEBI Regn. No: NSE (CASH):INB231317638;

SE (F&O) I NF231317638;NSE(CURRENCY):INE231317638BSE:TMID-6112 SEBI Regn. No.: BSE (CASH): INB011317634;BSE (F&O) INF011317634MCX-SX:TMID-52400 SEBI Regn.No :INE261317638USEIL:TMID-13176 SEBI Regn.No. : INE271317633CDSL DP:DPID : 12069700 SEBI regn. number : IN-DP-CDSL-607-2011

Raghunandan Industries (P) Ltd.: Member-MCX; NCDEX ; NMCE; ICEX; NSEL ; NCDEXSpot

MCX:TMID-16825 FMC Code No.:MCX/TCM/CORP/0050NCDEX:TMID-00189 FMC Code No.:NCDEX/TCM/CORP/0295NMCE:TMID-CL0267 FMC Code No.:NMCE/TCM/CORP/0185ICEX:TMID-1107 FMC Code No.:ICEX/TCM/CORP/0120NSEL:TMID-10440NCDEX Spot:TMID-10043

Raghunandan Insurance Brokers (P) Ltd.:Direct Broker-IRDA

Direct Broker Code :IRDA:DB/352


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RAGHUNANDAN MONEY GROUPS


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EQUITY

Investing in shares or stock market is inarguably the best route to long-term wealth accumulation.However, it can also be a very risky proposition due to high risk-return trade-off prevalent in thestock market. Hence, it is more appropriate to take help of an experienced and trustworthy expert

who will guide you as to when, where and how to invest.

Raghunandan provides guidance in the exciting world of stock market with suitable tradingsolutions and value-added tools and services to enhance your trading experience.

Online Trading

Customized single screen Market Watch for multiple exchanges Real-time rates

Flash news & intra-day calls Intra-day & historical charts with technical tools Online research E-broking & back-office software training

Quality Research

Wide range of daily, weekly and special Research reports Expert Sector Analysts with professional industry experience

Advisory

Real-time market information with News updates Investment Advisory services Dedicated Relationship Managers

Support

24x7 Web-enabled Back Office Centralized customer care Live Chat support system


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EQUITY DERIVATIVES

The derivative segment is a highly lucrative market that gives investors an opportunity to earnsuperlative profits (or losses) by paying a nominal amount of margin. Over past few years, Future& Options segment has emerged as a popular medium for trading in financial markets. Futurecontracts are available on Equities, Indices, Currency and Commodities.

Raghunandan being the member NSE and BSE Derivatives Segment, provides you a gateway tothe exciting world of derivative market.

CURRENCY DERIVATIVES

The global increase in trade and foreign investments has led to inter-connection of many nationaleconomies. This and the resulting fluctuations in exchange rates, has created a huge internationalmarket for Forex rendering investors another exciting avenue for trading. The Forex market offersunmatched potential for profitable trading in any market condition or any stage of the businesscycle.

BENEFITS

Low Commissions:Brokerage fees are very low as the market is highly competitive.

No Middlemen : Futures/Options currency trading does away with the middleman and allowsclients to interact directly on the exchange platform.

Standardized Lot Size :In the futures markets, exchanges determine lot or contract sizes whichare fixed in nature. This allows traders to trade in multiple lots.

Low Transaction Cost : The retail transaction cost (the bid/ask spread) is typically less than0.1% under normal market conditions. In large deals, the spread could be as low as 0.07%.

High Liquidity :With an average trading volume of over $4 trillion per day, Forex market hashigh liquidity. It means that a trader can enter or exit the market at will in almost any marketcondition.Instant Transactions:This is a very advantageous by-product of high liquidity.


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Low Margin, High Leverage:These factors increase the potential for higher profits (and losses).

Online Access:The big boom in Forex came with the advent of online trading platforms.

Interbank Market:The backbone of the Forex market consists of a global network of dealers.They are mainly major commercial banks that communicate and trade with one another and withtheir clients through electronic networks and by telephone. There is no organized exchange toserve as a central location to facilitate transactions the way the New York Stock Exchange servesthe equity markets. The Forex market operates in a manner similar to that of the NASDAQ marketin the United States. Thus, it is also referred to as an over-the counter (OTC) market.

Self-Regulatory:The Forex market is so vast and has so many participants that no single entity,

not even a Central Bank, can control the market price for an extended period. Even interventionsby mighty Central Banks are becoming increasingly ineffectual and short-lived. Thus, CentralBanks are becoming less and less inclined to intervene and manipulate currency prices.

No Insider Trading: Because of the Forex market's size and non-centralized nature, there isvirtually no chance for ill effects caused by insider trading. Fraud possibilities, at least against thesystem as a whole, are significantly less than in any other financial instruments.

Limited Regulation:There is limited governmental influence via regulation in the Forex markets,

primarily because there is no centralized location orexchange.


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Advantages of Raghunandan :

Raghunandan provides user friendly online platform for currency trading in the leading currency

exchanges

Online Trading

Single screen customized market watch for currency derivatives withBSE/NSE/MCX/NCDEX and NMCE

Streaming quotes

Top Quality Research

Exclusively daily commentary and research reports by our currency analyst team Regular updates on Dollar INR movements with calls to buy and sell Special consultancy to exporters , Importers & corporate for their forex transaction

Pro-Active Relationship Management

Active advisory desk Receive education on the products through seminars / con-calls organized by

Raghunandan Your margin with Raghunandan capital can be used for either segment equity / currency


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SPOT

Commodity spot products (e series products) consists of a series of investment products incommodities, which are designed for retail investors. These products, innovated by NSEL , allowinvestors to put in their funds into commodities in smaller denominations and hold them in dematform. These products are available for electronic trading on the pan-India electronic tradingplatform set up by NSEL, which can be accessed through members of NSEL. Commodity spotproducts (e-series products) provide a unique opportunity to buy, accumulate, hold and liquidatecommodities with easy entry and exit facility, besides a right to convert them into physicaldeliveries in a seamless manner

Features

Promotes Systematic Investment & Savings Investment can be as low as 1 gm of Gold, 100 gms of Silver and 1 Kg of Copper Convenient, Secured and ease of Buying & Selling on electronic platform just like shares Conversion to Physical gold/silver/copper possible Flexibility of trade timings from 10 m to 11:30 pm - Monday to Friday Single day contract with Settlement on T+2 basis Arrangement with NSDL & CDSL as the depository for holding commodity units in Demat

form

Benefits

Transparent Pricing:e-Series is available on the order-driven electronic platform whereinvestors are allowed to quote their own buying and selling price. The same price isavailable across the country. The impact cost is as low as 10 paise. The price quoted on thescreen is actionable price at which investors can buy or sell. This ensures transparency,credibility and authenticity of pricing.

Uniform Pan-India Pricing:e-Series products provide the benchmark uniform price forcommodities that is valid in the entire country. In physical market, the price varies fromplace to place. e-Series remove such regional bias, disparities and ambiguities and provide

a uniform price for the entire country. Hence, e-Series is the first

instrument in the country that implements the doctrine of Common

Indian Market. Low custodian charges and transaction fee:The cost of holding e-Series units is zero.

Hence, investors can hold on to them for as long as they desire, without having to incur anystorage or holding cost.

Elimination of storage risk/ theft :Holding commodities in demat form, hence no risk ofcommodity theft or storage loss

Diversification of portfolio :Diversification of portfolio by investing in a different asset


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class

Delivery at different locations :Investors can get physical delivery of accumulated unitsof Gold / Silver / Copper at various locations without any premium

E-series products

e-Gold e-Silver e-Copper e-Zinc*

e-Nickel* e-Lead*

e-Aluminium e-Steel e-Iron Ore e-Platinum

e-Cadmium e-Pig Iron

How to parti cipate

Retail Investors who intend to trade / invest in E Series products have to registerwith Raghunandan money. The process is exactly similar to client registrationprocess for trading in the equity market.

Investment can be initiated in two simple steps:o Open Client A/c (trading a/c) with Raghunandan Money and start

trading/investing.o As the instruments are dematerialized commodity units, the investor needs to

open a commodity beneficiary demat account with Raghunandan Money .

Please note that the demat account meant for equities (Securities) is noteligible to hold E-Series units and a separate demat & trading account willhave to be opened for trading in E-Gold, E-Silver & E-Copper

The buying and selling of demat units takes place on the NSEL trading platformfrom Monday to Friday (10AM -11.30 pm) under symbol E-Gold, E-Silver & E-Copper. The trading units are: 1 Gram for Gold, 100 gram for Silver & 1 Kg forCopper.


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DEPOSITARY

Enjoy the dual benefits of trading and depository services under one roof and experience efficient,risk-free and prompt depository service. Raghunandan is registered as a Depository ParticipantwithCDSL.

Raghunandan Advantage

Automated pay-in facility Access informationAnytime, Anywhere

Quarterly demat statements with valuation Statements on demand View Demat A/C statement online Competitive transaction charges

Easiest

You can transfer securities 24 hours a day, 7 days a week through Internet Consolidation Demat Account: Dematerialize your physical shares in various holding

patterns and consolidate all such scattered holdings into your primary demat account atreduced cost.

The pay-in of funds and delivery shall take place at 1:00 PM and payout will beat5:30 PM on T+2 day (T- Trading day) from Monday to Friday excluding holidaysnotified by the Exchange.

The settlement takes place through the members pool a/c as in equity. In case of

buy, the client needs to disclose the beneficiary account to the member and in case of

sale the client needs to transfer the demat units to the members account on T+1 day. There is a provision of conversion of demat units to physical units at specific

delivery centres.


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Corporate Benefit Tracking

Track your dividend, interest, bonus through your account statement.

Mobile Alerts

Receive SMS alerts for all debits/credits

Dedicated customer care

Executives specially trained at our help desk, to handle all your queries.

Countrywide Branches

You are never far from Raghunandan Money Demat Services outlet.

Competitive Charges

You will find our service charges very competitive - offering the best value for yourmoney.

INSURANCE

Future is uncertain and one needs to provide for the uncertainty today. We at "RaghunandanMoney" help you secure your future through insurance products.


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Our Trust is

To give value added and quality services to the insuring public and enable them to getproper insurance coverage that will adequately indemnify them in time of need

To give risk management back up to clients through our team of managers and

experienced executives. To work together with the customers, combining our skills, technologies and experience -

no matter what your business is or how difficult the situation is - we give it the correctperception.

Our approach to insurance broking is holistic. Raghunandan money critically views the

need and adequacy of Insurance from a client's perspective:

Define risk profile Propose a risk management plan

Source insurance quotes Evaluate quotes with recommendations Focus on coverage and cost optimization Placement of insurance as per clients choice Validate the policy in line with proposal Policy updation

Our motto is "Total Customer Satisfaction."Our core value helps us to build and sustain enduring corporate relationships.As always, we put your needs first.

IPO

Initial Public offerings provide a very good opportunity for investors to enter into high growthcompanies early one when they come to capital markets for the first time for raising funds.Raghunandan Money provides complete transaction support to investors for investments inprimary markets through IPO's. The advisory team offers advise to investors to invest only in

fundamentally sound IPOs.


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MUTUAL FUND

Mutual Funds provide money management by specialists fund managers. As an investmentoptions providing broad diversification and covering wide range of investment objectives,philosophies, asset classes and risk exposures. Mutual funds have become a must have for anywell balanced investment portfolio. We at Raghunandan Money offer Mutual fund

investment across 1000+ schemes and 22+ fund houses through our dedicated advisors.Raghunandan also provides recommendations based on in-depth research, mutual fundperformance and mutual fund ratings to help meet your investment goals.

RESEARCH

Creating wealth is our only goal.Keeping in view, we offer customized research based servicesto our wide range of clients through in-depth understanding and analyzing the various investmentopportunities that exist in our financial markets.

Raghunandan Money triumphs in the development of Real- time Research with Trailing stops(RRT), in financial markets. Raghunandan Money has taken years of research and extensive hardwork to finally give a new outlook to trading in Equity & Commodity Markets through RRT.The whole idea behind developing RRT is to give a new Dimension and Perspective to the

thinking of investors on How to Trade in the Markets with Defined Profits & Capped Risk.

With the stops been trailed on a Real time basis, the client who follows will always minimize thelosses and maximizes the return. More over the visual impact of Live Chart view of Stocks andCommodities with BUYSell Signals with Stop Loss, doesnt require a professional to followor interpret, a client can do himself and follow meticulously and reap its benefits.

A strong research team of competent and experienced professionals work continuously to pickup the best opportunities for our valuable customers. The activities of the group also provide thesynergy for optimizing the growth of business by adding greater value to our clients business.

Close and continuous monitoring of the Global Macro Economic Scenario at the Highest level isa great Advantage.

We follow a very large bouquet of Trading Strategies to give a robust and consistentperformance in Equity & Commodity Markets.


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COMPETITORS

Brokerage firmsare the business entities that deal with stock trading. India, with an increasingcapital market and a growing number of investors, has a number of brokerage firms. In Indianretail brokerage industry, the brokerage firms primarily work as agents for buying and selling ofsecurities like shares, stocks and other financial instruments and earn commission for each of thetransactions.There are many companies which are competitor of RAGHUNANDAN MONEY

Name Raghunandan Money

Terminals 3320

Sub Brokers 810

No. of Employees 500

No. of Branches 10

Name Kotak Securities Limited

Terminals 4320

Sub Brokers 910


No. of Branches 350

Name Karvy Stock Broking Limited

Terminals 1700

Sub Brokers 19000


No. of Branches 581

Name Indiabulls

Terminals 2876

Sub Brokers NA


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No. of Branches 522

Name IL&FS Investmart Limited

Terminals 1644

Sub Brokers NA


No. of Branches 294

Name Motilal Oswal Securities

Terminals 7923

Sub Brokers 890


No. of Branches 63

Name Reliance Money

Terminals 2428

Sub Brokers 1494


No. of Branches

142

Name India Infoline

Terminals 173

Sub Brokers 173

No. of Employees NA

No. of Branches 605

Name Angel Broking Limited

Terminals 5715

Sub Brokers NA


No. of Branches NA

Name Anand Rathi Securities Limited

Terminals 1527


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Sub Brokers 320


No. of Branches 220

Name Geojit

Terminals 627

Sub Brokers 247


No. of Branches 314


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AUTHORISED PERSON

AP means any person not being a member of a stock exchange, who acts on behalf of a member-broker as an agent or otherwise for market access and assisting the investors in buying, selling ordealing in securities through such memberbroker.

A company would prefer to have someone else handling there centre link business on therebehalf . They authorize a person or organization to be there nominee or make enquiries only.Nominee arrangements allow the company to authorize someone to act and/or receive thecompanys centrelink payments on the companys behalf. This is referred to as a person

permitted to enquire about the company through authorized person.

Any person who is appointed as such by a stock broker (including trading member) and whoprovides access to trading platform of a stock exchange as an agent of the stock broker is anAuthorized Person. An individual, Partnership Firm, Limited Liability Partnership (LLP) and aBody Corporate meeting the requisite eligibility criteria prescribed by the stock exchange canbecome an Authorized Person. The individual should be a resident of India, Partnership Firmshould be registered under Indian Partnership Act, 1932, LLP should be registered under theIndian Limited Liability Partnership Act, 2008 and Body Corporate should be registered underthe Indian Companies Act, 1956. Same person cannot act as sub-broker with one stock brokerand as Authorized Person with another stock broker of the same stock exchange at a time.Authorized Person can receive remuneration - fees, charges, commission, salary, etc. for hisservices only from the stock broker and shall not charge any amount from the clients.Accordingly, stock broker can share brokerage with the Authorized Person but shall not chargeany amount directly from the clients.In case of an Authorized Person, as stipulated by SEBI, an agreement has to be entered betweenstock broker and the Authorized Person in the format prescribed by the Exchange vide circularno. 705 (download ref. no. 13601) dated December 3, 2009. (circular hyperlink to be providedhere). There is no requirement of a tripartite agreement in case of Authorized Person.

As per SEBI stipulations in person verification of clients can only be carried out by employees ofthe stock broker, hence an Authorized Person who is not an employee of the stock broker cannotcarry out in person verification and same rule is even applicable to a sub-broker.A choice has to be made on becoming Authorized Person or sub-broker and having bothconcurrently for same segment is not permitted.The sub-broker on the Capital Market segment can apply for appointment as Authorized Personalong with the application for cancellation of sub-broker. The stock exchange shall de-recognizethe entity as sub-broker and approve the appointment of the entity as Authorized Person so thatthe business continuity is not affected. The KYCs need not be entered afresh in such cases.Authorized Person can operate terminal on behalf of the stock broker. However, in respect ofstock brokers proprietary trading there are restrictions that it can take place only from locations


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that have been declared so to the stock exchange. It is necessary for a Director level person to belocated at the place where proprietary trades are permitted.As per Exchange requirement every client has to be individually registered with stock broker andall funds and securities settlement have to take place between stock broker and the investor.Recovery issues if any between stock broker and Authorized Person would depend on thearrangements that they have entered into.

Arbitration mechanism of the stock exchange will be available for resolving the client disputesagainst the Authorized Person and the stock broker wherein the Authorized Person can be madeparty to it. The stock exchange arbitration mechanism will be available in case of any disputebetween the stock broker and the Authorized Person. An Authorized Person can have multipleoffices.A single application specifying the segments can be submitted in case stock broker is seekingapproval of the stock exchange for appointment of Authorized Person in two or more segmentstogether. Further a single agreement between the stock broker and the Authorized Person willsuffice in such cases. However, it is necessary to keep the agreement separate for each stockexchange.

The agreement between the stock broker and Authorized Person should be strictly as per theformat prescribed by the stock exchange. In case stock broker wishes to stipulate additionalterms and conditions, stock broker may include additional clauses clearly stating that theseclauses are mutually agreed to between stock broker and Authorized Person taking care to ensurethat such clauses are not in contravention with compliance requirements stipulated byExchange/SEBI.The existing registration process of sub-brokers will continue and the existing Sub-brokers andAuthorized Persons can continue operating without getting registered again as per the newprocess.The obligations and liabilities of an Authorized Person are similar to that of a Sub-broker.However, Authorized Person would not have a registration granted by SEBI. Further in all

representations to investors at large name of the affiliated stock broker along with its registrationnumber should be clearly displayed.A stock broker may enter into any additional agreement with Authorised Person provided theclauses of such agreements are not in contravention of SEBI/Stock Exchange stipulations.

A single notice board can be displayed mentioning the details of stock broker, sub-broker andAuthorized Person.If the Authorized Person would be operating from the office of stock broker, the address of thestock broker can be mentioned in the application form seeking appointment of AuthorizedPerson.For change in affiliation of Authorized Person from one stock broker to the other stock broker of

the exchange, the application for appointment of Authorized Person shall be submitted by thenew affiliating member along with a No objection certificate from the earlier stock broker.


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List of APs

1.Amit Mohan Upadhya (lucknow)

2.Sanjay Mangal (lucknow)

3.Jitendra Tiwari (Baliya)

4.Shivjeet Prasad (Banaras)

5.Vijay Kishore Pandey (Gorakhpur)

6.Seema Mishra (Kanpur)

7.Jyoti Mishra (Kanpur)

8.Bansh Raj (Barabanki)

9.Minoti Bhattacharya (Mau)

10.Shailendra Srivastava (Faizabad)

Competitors:

1. Kotak Securities Ltd.

2.Karvy Stock Broking Ltd.

3.India Bulls

4.IL &FS Investmart Ltd.

5.Motilal Oswal Securities

6.Reliance Money

7.Angel Broking

8.India Infoline

9.Anand Rathi Securities Ltd

10.Geojit


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SWOT ANALYSIS

Strengths

Dedicated team of young professional and financial experts.

Efficient RMS team which serves as backbone to the company.

Vast network of outlets across India at best of Locations.

Technological backup including state of art LAN and WAN.

Technology, linked at the client-end too.

Transparency to the clients.

Personalized services to the clients.

With average of 27 years Unicon is youngest and most aggressive company in

Stock/Commodity broking space.

Huge market opportunities i.e. Internet trading (stocks and commodities) is one of the

worlds fastest growing and large markets.

Strong management, experienced backers, proprietary technology.


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Opportunities

One of the fastest growing company, huge potential for growth.

This market has a huge investor base and hence, serves as an opportunity for the

company to capture it.

Technology has given scope to have presence in all segment of market

Weakness

Lack of promotional activity.

In house Research (for technical analysis).

Threats

Facing tough competition from big brands such as Indiabulls, ICICI direct and Kotak

Securities etc.

Market fluctuations.


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Data Analysis and Interpretation

SERVICE PROVIDED TO AP BY RAGHUNANDAN MONEY AND

OTHER COMPANY

LIST OF SERVICES COMPANY- RAGHUNANDAN

MONEYSECURITY DEPOSIT 25000 PER SEGMENT

ADVANCE BROKERAGE PLAN YES

SHARING TWO OPTION IN RATIO OR INFIX

SEGMENT NSE CASH, NSE-F&O, NSE-

CURRENCY,

MCX,NCDEX, MCX-SX,NSDEL

SOFTWARE ODIN

SOFTWARE CHARGE NOMINAL

BACK OFFICE SOFTWARE SHILPY

BACK OFFICE SOFTWARE

CHARGE

FREE

LIMIT IN NSE INTRADAY---16.5 TIMES

DELLEVARY- 5.5TIMES

LIMIT IN MCX INTRADAY- 5 TIMES

POSSITIONAL 2 TIMES

THIRD PARTY PRODUCT MUTUAL FUND, LIFE INSURANCE,

GENERAL INSURANCE, IPO, FD,

MANY MORE


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LIST OF SERVICES COMPANY- KOTAK

SECURITIES LTD.SECURITY DEPOSIT RS.100000 PER SEGMENT

ADVANCE BROKERAGE PLAN NO

SHARING ONLY ONE OPTION IN RATIO


CURRENCY,


SOFTWARE ODIN

SOFTWARE CHARGE CHARGEBLE

BACK OFFICE SOFTWARE OTHER


CHARGE

GHARGEABLE

LIMIT IN NSE INTRADAY---10 TIMES

DELLEVARY- 3TIMES

LIMIT IN MCX INTRADAY- 2TIMES

POSSITIONAL 1 TIMES



MANY MORE


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LIST OF SERVICES COMPANY- ANGEL BROKING

SECURITY DEPOSIT RS.50000 PER SEGMENT




CURRENCY,


SOFTWARE ODIN




CHARGE

GHARGEABLE


DELLEVARY- 3TIMES


POSSITIONAL 1 TIMES

THIRD PARTY PRODUCT NO


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LIST OF SERVICES COMPANY- KARVY STOCK

BROKING LTDSECURITY DEPOSIT RS.50000 PER SEGMENT




CURRENCY,


SOFTWARE ODIN




CHARGE

GHARGEABLE


DELLEVARY- 3TIMES


POSSITIONAL 1 TIMES



MANY MORE


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LIST OF SERVICES COMPANY- INDIABULL





CURRENCY,


SOFTWARE PIB

SOFTWARE CHARGE FREE



CHARGE

GHARGEABLE


DELLEVARY- 3TIMES


POSSITIONAL 1 TIMES




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LIST OF SERVICES COMPANY- SHRIRAM

INSIGHTSECURITY DEPOSIT RS.50000 PER SEGMENT




CURRENCY,


SOFTWARE D2C




CHARGE

GHARGEABLE


DELLEVARY- 3TIMES


POSSITIONAL 1 TIMES



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LIST OF SERVICES COMPANY- INDIAINFOLINE





CURRENCY,


SOFTWARE ODIN




CHARGE

GHARGEABLE


DELLEVARY- 3TIMES


POSSITIONAL 1 TIMES



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Segments provided by Raghunandan Money to their A.Ps

Segments Total No. Of A.Ps

Mixed 9(45%)Commodity 6(30%)

Equity 5(25%)

Total 20

Data Interpretation:-

Out of 20 A.Ps 45% subscribe mixed segment,30% subscribe commodity and25% subscribe equity of Raghunandan Money.

45%

30%

25%

Mixed

Commodity

Equity


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Security deposit taken by Raghunandan Money from A.Ps per segment

NAME OF

COMPANY

BROKERAGE/SEGMENT

R Money 25000

Indian Infoline 100000

Kotak Securities 100000

Angel Broking 50000

Karvy Stock Broking 50000India Bulls 50000

Shriram Insight 50000

Data Interpretation:

After analyzing 7 broking companies we can find out that Raghunandan Money is one of the

broking company which provides all the segments at lesser brokerage amount and Indian

Infoline and Kotak Securities take higher amount among all.

0

20000

40000

60000

80000

100000

120000

BROKERAGE

BROKERAGE


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Ques3. What is the amount of securities deposited by the A.P to the company whiletaking the franchise ?

1.100000 2.75000c.25,000 4.50,000

Ans. Minimum 25,000 amount of security is must to get themselves registered as authourizedperson.

NAME OF THE COMPANY BROKERAGE

RAGHUNANDAN MONEY 25000

INDIA INFOLINE 100000

ANGEL BROKING 50000

INDIAN BULLS 50000

KOTAK SECURITIES 100000

Data interpretation:-

In comparison with other broking companies Raghunandan Money take lesser amount as

brokerage from there A.Ps

Q4. Is any advance brokerage deposited by the A.P before taking franchisee?a.Yes b.No.

Ans. Yes

100000

75000

25000

50000

1

2

3

4


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Q5. What is the ratio of brokerage offered by the companys to their A.Ps?

a.70:30 b.60: 40c.50:50

Ans. 70.30

Q6. What are the segment offered to the A.P for their customers?

a.NSE b.NCDEXc.MCX-SX d.NSDEL

Ans. NSE

Q7. Is software of odding is given to the A.P or not and whether it is chargeableor not?

a.YES b.NO

Ans. Yes

Q8. Whether back office software is chargeable or not?

a.YES b.NO

Ans. NO

Q9. What are the limits process in the company?

a.5 times b.2 timesc.3 times d.10 times

Ans.5 times

Q10. Whether the companys provide third party product to consumer?

a.YES b. NO

Ans. Yes


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FINDINGS

A.P plays the role of middle man between clients and company.

There are various segment offered in stock market such as equity and commodity.

Knowlegde about Life Insurance and Mutual funds as third party product.

To know about the current prices of share and commodities we use terminal as

source.

Awareness about customers preferences.

Importance of saving and investments in current scenario.

Raghunandan is the company which provides best service at lower charges from

there A.Ps.

SUGGESTION

The company needs to analyze the market and need to know about their

competitors.

They should use various market strategies and create awareness about there

product more in the market

They provide more training to there sells person and A.Ps so that they can

give correct knowledge to there clients


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CONCLUSION

The analysis and interpretation of data on study of comparison between A.Ps of different

companies and Raghunandan Money. These are the following findings of the project:

Working of the stock market.

Working of the terminals to check prices of the shares.

Services provided to A.Ps by Raghunandan Money.

Various research tips provided by the company to the A.Ps to attract more

clients.

Promotion and marketing material provided by the company to A.Ps.


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ANNEXURE

QUESTIONNAIRE

Q1. What is the amount of securities deposite by the A.P to the company whiletaking the franchise ?

a.50,000 b.1,00,000c.25,000 d.75,000

Q2. Is any advance brokerage deposited by the A.P before taking franchisee?

a.Yes b.No.

Q3. What is the ratio of brokerage offered by the companys to theirA.Ps?

a.70:30 b.60: 40

c.50:50

Q4. What are the segment offered to the A.P for their customers?

a.NSE b.NCDEXc.MCX-SX d.NSDEL

Q5. Is software of odding is given to the A.P or not and whether it is chargeableor not?

a.YES b.NO

Q6. Whether backoffice software is chargeable or not?

a.YES b.NO

Q7. What are the limits process in the company?

a.5 times b.2 timesc.3 times d.10 times

Q8. Whether the companys provide third party product to consumer?

a.YES b.NO


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BIBLIOGRAPHY

WWW.NSC INDIA.COM

WWW.GOOGLE.COM

WWW.MONEYCONTROL.COM

WWW.RMONEY.COM
http://www.google.com/http://www.google.com/http://www.moneycontrol.com/http://www.moneycontrol.com/http://www.moneycontrol.com/http://www.google.com/

shivangi internship project

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