Analysis of top stock brokers of India

IRJMST Volume 5 Issue 2 Online ISSN 2250 - 1959

International Research Journal of Management Science & Technology http:www.irjmst.com 28

Analysis of top stock brokers of India

Ms. Shuchita Verma Assistant Professor

Daulat Ram College

(Department of Commerce)

E-Mail- [email protected]

University of Delhi

Mr. Naveen Chaudhary Assistant Professor

Lakshmibai College

(Department of Economics)

E-mail – [email protected]

Abstract

Investing in equities is a current investment trend. Every individual is interested to reap

benefits out of investment in share market .But due to lack of proper technical knowledge

people are not able to derive full benefits out of it. Here, stock brokers play a major role.

They give a common person direction and guidance for investment purposes .This paper

throws light on the profile of Indian stock market and major stock brokers, their products

and portfolios.


International Research Journal of Management Science & Technology http:www.irjmst.com Page 129

Objective

To understand the working of stock broking firms and the benefits they

offer to customers

Introduction

A stock market (also known as a stock exchange) has two main

functions.The first function is to provide companies with a way of issuing

shares to people who want to invest in the company. This can be

illustrated by an example: Suppose a company has a mini ng lease over an

area with some rich ore deposits.It wants to exploit these deposits,but he

doesn‟t have any equipment.To buy the equipment he needs money.One

way to raise money is through the stock market.The company issues a

prospectus, which is a sort o f advertisement informing people about the

prospects of the company and inviting them to invest some money in

it .When the company is „floated‟ (established) on the stock

market,interested investors can become part -owners of the company by

buying „shares‟.

If the company operates at a profit, shareholders benefit in two ways –

through the issuing of dividends in the form of cash or more shares,and

through growth in the value of the shares. On the other hand,if the

company does not operate at a profit (e.g., if the price of the product

dips), the shareholders will probably lose money. The second function of

the stock market,related to the first ,is to provide a venue for the buying

and selling of shares.

Most of the trading in the Indian stock market takes plac e on its two stock

exchanges: the Bombay Stock Exchange (BSE) and the National Stock

Exchange (NSE). The BSE has been in existence since 1875. The NSE, on

the other hand, was founded in 1992 and started trading in 1994.

However, both exchanges follow the same trading mechanism, trading



hours, settlement process, etc. At the last count, the BSE had about 4,700

listed firms, whereas the rival NSE had about 1,200. Out of all the listed

firms on the BSE, only about 500 firms constitute more than 90% of its

market capitalization; the rest of the crowd consists of highly illiquid

shares.

Almost all the significant firms of India are listed on both the exchanges.

NSE enjoys a dominant share in spot trading, with about 70% of the

market share, as of 2009, and almo st a complete monopoly in derivatives

trading, with about a 98% share in this market, also as of 2009. Both

exchanges compete for the order flow that leads to reduced costs, market

efficiency and innovation. The presence of arbitrageurs keeps the prices

on the two stock exchanges within a very tight range.

Origin of the Indian Stock Market

The Indian stock market is not a new concept. It has a history of about 299 years old. It

was in early 18th Century, the main institution that is dealing in the trading of shares and



stocks is the East India Company. Later by around 1830′s the main dealing in the shares

and stocks (mainly in bank and cotton) was initiated in Bombay. However, the items in

which the trading took place increased tremendously by the end of 1839. There after the

concept of broker business was started which show momentum in the mid 18th century.

This concept has attracted nm\ember of people to indulge in the trading of items. By

1860, the number of brokers who are dealing in the trading of items goes up to 60 in

number. Further, the number of brokers increased from 60 to 250 in around 1862-

1863.78However, around 1980-61 there is no supply of cotton from America as there was

civil war that took place in America. Due to this, there is a concept of Share Mania that

took place in India.This is the era of 1980 in which the Indian market had the initial

flavor of the trading in items and the concept of Stock market. Thereafter, it has shown

significant changes both in the pre-independence era and post independence era.

Pre-Independence Era

The concept of stock market place was not a very systematic system. People who needs

to trade generally gathered on the streets which was popularly known as the DALAL

STREET and the trading and the transaction used to take place from the Dalal street. It

was in year 1875 that the first stock exchange was formulated in the name of “The Native

Share and Stock Brokers Association” which is presently known as the ” Bombay stock

exchange”. There after it was in year 1908, that the stock exchange in Calcutta was

formulated known as ” The Calcutta Stock Exchange Association”. This wind of stock

exchange has also shown its pace in madras in 1920 resulting in the formation of the

Madras Stock exchange which was started with around 100 brokers who are trading in

the madras Stock exchange. It was in 1934 when the Lahore Stock exchange was

established. The Uttar Pradesh stock exchange and the Nagpur stock Exchange was

established in year 1940. In year 1944,the Hyderabad stock exchange was established. It

was not until 1947 that any stock exchange was established in Delhi. It was in year 1947

that the “Delhi Stock and Share Broker Association Limited” and “The Delhi stocks and

Shares exchange Limited” was established in Delhi.

Post-Independence Era

There was shutdown of various stock exchanges in India due to the depression that took

place after Independence. It was under the Securities Contracts (Regulations) Act, 1956

that various stock exchanges has got a recognition as a recognized stock exchange such

http://www.sharegyan.com/share-market/share-market-broker/

http://www.sharegyan.com/share-market/dalal-street-tips/

http://www.sharegyan.com/share-market/dalal-street-tips/

http://www.sharegyan.com/bse/bombay-stock-exchange-history/

http://www.sharegyan.com/bse/bombay-stock-exchange-history/



as Bombay, Delhi, Hyderabad, Indore etc. there are several other stock exchanges that

were established post independence. Thus, the market of stock exchange in India is

tremendous and is growing with leaps and bounds.

In earlier times, the trading, that is, the buying and selling of shares and stocks

takes place at a particular place known as stock exchange. Thus, the person needs to

go at that particular platform if he or she needs to trade in the shares. However with

the advancement of technology, this process has almost become redundant. Now, the

trading of shares and stock can take place electronically. There is a tremendous

reduction of paperwork as everything has gone online

There are two forms of shares physical or dematerial ized (demat)

shares.Though the company is under obligation to offer the securities in

both physical and demat mode,one has the choice to receive the securities

in either mode.If any one wish to have securities in demat mode,he need

to indicate the name of the depository and also of the depository

participant with whom he had depository account in his application.It is,

however desirable that one should hold securit ies in demat form as

physical securities carry the risk of being fake, forged or stolen. Just as

one has to open an account with a bank if one wants to save his

money,make cheque payments etc.Nowadays,one needs to open a demat

account if he want to buy or sell stocks.So it is just like a bank account

where actual money is replaced by shares.One has to approach the DPs

(they are like bank branches),to open their demat account.Let 's say one‟s

portfolio of shares looks like this:150 of DLF,50 of Axis Bank,200 of

GMR Infra and 100 of RIL.All these will show in their demat account.

They are all held elec tronically in the account.As one buys and sells the

shares,they are adjusted in one‟s account.Just like a bank passbook or

statement,the DP will provide with periodic statements of holdings and

transactions.

Nowadays,practically all the trades have to be s ettled in dematerialized

form.Although the market regulator,the Securities and Exchange Board of



India (SEBI),has allowed trades of up to 500 shares to be settled in

physical form,nobody wants physical shares any more.So a demat account

is a must for trading and investing. Most banks are also DP participants,

as are many brokers.

ONLINE TRADING BY NSE & BSE

The central computer located at the Exchange is connected to the

workstations of the Brokers through satellite using Very Small Aperture

Terminals (VSATs).Orders placed at the Brokers ' workstations reach the

central computer and are matched by the computer based on price and

time priority.

Both the exchanges have switched over from the open outcry trading

system to a fully automated computerized mode o f trading known as

BOLT (BSE on Line Trading) and NEAT (National Exchange Automated

Trading) System.It facilitates more efficient processing, automatic order

matching,faster execution of trades and transparency.The scripts traded on

the BSE have been class ified into 'A', 'B1' , 'B2', 'C', 'F ' and 'Z' groups. The

'A' group shares represent those, which are in the carry forward

system.The 'F ' group represents the debt market (fixed income securities)

segment.The 'Z' group scripts are the black listed companies. The 'C' group

covers the odd lot securities in 'A', 'B1' & 'B2' groups and Rights

renunciation.

REQUIREMENTS FOR NET TRADING:



For investors:

1. Installation of a computer with required specification

2. Installation of a modem

3. Telephone connection

4. Registration for on-line trading with broker

5. A bank account

6. Depository account

7. Compliance with SEBI guidelines for net trading

PROCEDURE FOR NET TRADING

Step 1: Those investors, who are interested in doing the trading over

internet system i.e. NEAT-IXS, should approach the brokers and get them

self registered with the Stock Broker.

Step 2: After registration, the broker will provide to them a Login

name,Password and personal identification number (PIN).

Step 3: An order can then be placed by the Clients by calling the broker

and asking him to buy or sell at the stated price.

Step 4: The investor will receive an "Order Confirmation" message along

with the order number and the value of the order or will be intimated by

the broker through phone call .



Step 5: In case the order is rejected by the Broker or the Stock Exchange

for certain reasons such as invalid price limit,an appropriate message will

appear at the bottom of the screen.At present, a time lag of about 10

seconds is there in executing the trade.

Step 6: It is regarding charging payment, for which there are different

mode. Some brokers will take some advance payment from the investor

and will fix their trading limits. When the trade is executed,the broker

will ask the investor for transfer o f funds to his account.

Internet trading provides total transparency between a broker and an investor in the

secondary market.In the open outcry system, only the broker knew the actually

transacted price. Screen based trading provides more transparency.With online trading

investors can see themselves the price at which the deal takes place.The time gap has

narrowed in every stage of operation.Confirmation and execution of trade reaches the

investor within the least possible time, mostly within 30 seconds. Instant feedback is

available about the execution.

THE MECHANICS OF ONLINE TRADING

Client ---Places an order by calling up broker ----The settlement of

the deal (buy/sell order) gets reflected in his Demat account. ----- The

client is intimated about the execution of the deal by message or phone

call ---Pays the broker pending balance.



Broker-Accepts the order, Checks the client‟s Identity and places the

order with the stock--Pays the Exchange Though his owns account and

receives it from the client account

Stock exchange--Accepts the order after checking the scrip limit of

the broker for the day . ---Executes the order--Receives the money and

completes the settlement

PROCEDURE FOLLOWED IN ONLINE TRADING:

Following steps explain the step by step approach to on-line

trading:

Register as client/ investor and obtain user ID and password

Clients can place their order with brokers by simply calling up the

broker and communicating with him about the deal he want to place for

buying or selling of securities using his user ID.

Broker`s server will check clients limit in the on -line account and

demat account for the number of shares and execute the trade.

Order is executed instantly (10-30 seconds) and confirmation can be

obtained.

Broker confirms the client about the deal on phone as even by mailing

him.

Settlement will take place automatically on the settlement day

Demat account and the bank account will get debited and credited by

electronic means.



Login

Buy transaction Sell transaction

The system will check buying The system will check DP

Limits Account

Orders accepted Rejected orders would be Orders accepted

Communicated along with reasons

Order is transmitted to exchange for execution

Pending buy orders on execution pending sending orders

Would be displayed of orders would be displayed On screen

on screen

Pending order pending order pending order pending order

Can be edited can be deleted can be edited can be deleted



It Flashed on confirmation could contract note would

Screen immediately be send to be sent to by mail

On execution e-mail and mobile or hand delivery

STOCK ANALYSIS

In stock market mainly there are two type of analysis for to find right shares for

investment- Fundamental analysis and Technical Analysis. How will you choose the right

company for investment at right price? Here come the importance of fundamental and

technical analysis.

TECHNICAL ANALYSIS

Technical analysis is a method of evaluating future security prices and market directions based on statistical analysis of variables such as trading volume,price changes,trends etc. to identify patterns. The stock market used to be filled with technical analysts deciding what to buy and sell,until it was decided that their success rate is no better than chance.Now technical stock analysis is virtually non-existent.There are many instances of investors successfully trading a security using only their knowledge of the security's chart,without even understanding what the company does.Technical analysis helps to understand the pattern or trend of the market or of the particular stock/script.

Technical analysis through stock charts



FUNDAMENTAL ANALYSIS

Fundamental analysis looks at a share’s market price in light of the company’s

underlying business proposition and financial situation.It involves making both

quantitative and qualitative judgments about a company.Fundamental analysis is

carried out by taking expected EPS and expected earning into consideration with

Discounted Future Cash Flows.Fundamental analysis can be contrasted with 'technical

analysis’, which seeks to make judgments about the performance of a share based solely

on its historic price behavior and without referring to the underlying business,the sector

it's in,or the economy as a whole.

The fundamental analyst observes trends, market and price movements, company

financial statements, interest rates, return on equity (ROE), and numerous other

indicators with one goal in mind: buying or selling stocks that will provide a high return

on investment (ROI).The primary reason being that these statements and co.’s ratios

examine profitability from the point of view of investors.



For example: Net Earnings of ABC Ltd. Is Rs.4,62,000 out of which co. pays Rs.20000 as

preference dividend.The total net worth of co. is Rs.3508000.

Therefore, Co.’s ROI = PAT – PREFERENCE DIVIDEND x 100

NET WORTH

= 4,62,000 – 20,000 X 100 =12.6%

35,08,000

ANALYSIS: Since the co.‟s ROI calculated above is satisfactory.

It show that the firm has been able to earn satisfactory return for

the owners.Therefore,the investors would probably be most

interested in ROI analysis.

SOME STOCK BROKING FIRMS

Brokerage firms are the business entities that deal with stock trading. India, with an

increasing capital market and a growing number of investors, has a number of brokerage

firms. In Indian retail brokerage industry, the brokerage firms primarily work as agents

for buying and selling of securities like shares, stocks and other financial instruments and

earn commission for each of the transactions.

List of Top 10 Brokerage Firms in India

Among all the Indian brokerage companies, the top 10 Brokerage Firms

in India can be listed as below:


International Research Journal of Management Science & Technology http:www.irjmst.com 1

Name Kotak Securities Limited

Terminals 4320

Sub Brokers 910

No. of Employees 4008

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


No. of Branches 522

Name IL&FS Investment 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

Sub Brokers 320


No. of Branches 220

Name Geojit

Terminals 627

Sub Brokers 247


No. of Branches 314



1. SMC GLOBAL SECURITIES

Main Focus: Investor Care



SMC is one of the leading firms in financial services in India.It basically

deals in Mutual Fund,Fixed Deposit Schemes,Capital Gain Bonds,GOI

Taxable Bonds,NABARD Bonds and Life an d General Insurance.

SMC: A ONE STOP INVESTMENT SHOP

SMC Group,a leading financial service provider in India is a vertically

integrated investment solutions company.Over the years,SMC has

expanded i ts domestic & international operations. Existing network

includes regional offices at Mumbai,Kolkata,

Chennai,Bangalore,Cochin,Jaipur,Hyderabad.The company has expanded

internationally and has established of fice in Dubai Gold and Commodities

Exchange (DGCX).Its products and Services include Insti tutional and

retail brokerage of equity,commodity,currency,derivatives,online trading,

investment banking,depository services,clearing services,IPO‟s and

mutual funds distribution,Portfolio management,wealth advisory,insurance

broking,equity and commodity research. SMC is one of the most active

trading organizations in India, averaging over 3,50,000 trades per

day.Currently,SMC has a highly efficient workforce of over 4,000

employees & one of the largest retail network in India currently serving

the financial needs of more than 5,50,000 satisfied investors.

PRODUCTS AND SERVICES

EQUITY AND DERIVATIVE TRADING:

SMC Trading Platform offers online equity & derivative trading facilities for investors who are looking for the ease and convenience and hassle free trading experience.They provide ODIN Application, which is a high-end,integrated trading application for fast,efficient and reliable execution of trades. One can now trade in the NSE and BSE



simultaneously from any destination at their convenience.One can access a multitude of resources like live quotes, charts, research, advice, and online assistance.One can also trade through their branch network by registering with them as their client.One can also trade by calling their designated representatives in the branches where one is registered as a client.

CLEARING SERVICES:

SMC is a clearing member in NSE (F&O & Currency), BSE (F&O &

Currency),MCX,MCX-SX,NCDEX and DGCX.SMC is clearing massive

volumes of trades of their trading members in this segment .

COMMODITY TRADING

SMC is a member of 3 major national level commodity exchanges, i.e. National Commodity and Derivative Exchange (NCDEX),Multi Commodity Exchange (MCX) and National Multi Commodity Exchange of India (NMCE) offers trading platform of NCDEX,MCX and NMCE.One can get Real-Time streaming quotes,place orders and watch the confirmation,all on a single screen.They use technology using ODIN application to provide with live Trading Terminals.SMC has spread its wings globally and provide trading in DGCX(Dubai Gold and Commodities Exchange).

DISTRIBUTION OF MUTUAL FUNDS AND IPO`S:

SMC offers distribution and collection services of various schemes of all Major Fund

houses and IPO’s through its mammoth network of branches across India.SMC is

registered with AMFI as an approved distributor of Mutual Funds.They assure a hassle

free and pleasant transaction experience when one invests in mutual funds and IPO’s

through them.They are registered with all major Fund Houses including Fidelity,

Franklyn Templeton etc.

ONLINE BACK OFFICE SUPPORT:

To provide robust back office support backed by excellent accounting

standards to their branches,they have ensured connectivity through FT P

and net based Application .



SMC DEPOSITORY:

SMC is ISO 9001:2000 certified DP for shares and commodities. They are one of the leading DP and enjoy the trust of more than 5.5 Lac investors.They offer a quick,secure and hassle free alternative of holding the securities and commodities in physical form.They are one of the few Depository Participants offering depository facilities for commodities.They are empanelled with both NCDEX & MCX.

SMC RESEARCH BASED ADVISORY SERVICES:

SMC`s massive R&D facility cat ers to the need of Investors,who are

continuously in need of opportunities for striking rich rewards on their

investment.They have one of the most advanced,hi -tech in house R&D

wing with some of the best people,process and technology resources

providing complete research solutions on Equity,Commodities, IPO‟s and

Mutual Funds.They offer proactive and timely world class research based

advice and guidance to their clients so that they can take informed

decisions.

TRADING PROCEDURE AT SMC GLOBAL SECURITIES

SMC deals in buying and selling equity shares and debentures on the

National Stock Exchange (NSE) as well as on Bombay Stock Exchange

(BSE).

SMC is provided with a computer and required software from their

registered stock exchanges.These centers are calle d “Broker Work

Stations”.These computers are connected to the server at the stock

exchanges through cable.

The member or broker sitting in office can send the quotations,

orders,negotiations,deals,in-house deals,auction orders etc., through the

computer.The Central trading system (CTS) will accept these orders and

send it for match.If there is any mistake in the order,CTS will reject the

orders and send respective error message to the member concern.All these

operations are in built. The main objective of C TS is to monitor the Stock

Exchanges operations.Order placed by the broker will be sent for a match

and if the match is found suitable,the transaction will be

executed.Otherwise, the order will be deleted automatically after

completion of trading time.The carry forward transactions (Good Till

cancellation) are forwarded to the next day.Even if the match is not found

with in the prescribed period,the order will not be cancelled.



TRADING SESSION

Trading timings are from 9:00 A.M. to 3:30 P.M. on all 5 days o f the

trading period.Monday to Friday is the trading period in all the stock

exchanges.SEBI has stipulated that al l the stock exchanges in India must

have same trading period.

BROKER WORK STATION:

At the broker workstation,the last traded price,the day„s opening

price,previous day‟s closing price,highest and lowest prices,the weighted

average price and total trade value will be available continuously for each

scrip.Other information will be available on query from the broker work

stations.These include top gainers /losers of the day,Trader -wise or scrip

wise net position, client wise net position,top scrip by the

volume/value,market summary etc.

Brokers are also provided with information relating to the companies in

the matter of Book closure,Dividend decla rations, resolutions in board

meeting,information about liquidated companies,company report etc.

ORDERS:

Orders can be done one at a t ime or in a batch mode. The submitted order

is accepted at the CTS,after validation if it finds any invalid reason the

order is return back to the BWS,with the appropriate error message.If

accepted at the CTS it will be added to the local pending order book.The

order will then be taken up for matching,if it is a buy order the system

tries to find a sell order,which fits the requirement of the buy order,when

such match is found a trade gets executed.Orders sent by the brokers are

two types:

Good for the day (GFD)

Good t ill cancellation (GTC)

GOOD FOR THE DAY:

This is also called as “market order”.For an order if the mem ber selects

the deal as good for the day,the order is treated as market order.If a “best

bid” founds match with “best order” then the transaction gets executed.If



the match is not found then after trade t ime the order gets cancelled that

day.Next day he has to place a new order.

For example i f a member wants to purchase 1000 shares of reliance

power @ 400 each through Good for Day order.If the correct match is not

found,order gets cancelled automatically and new quotation has to be

placed the next day.

GOOD TILL CANCELLATION:

This order is forwarded to the last trading day of that settlement

period.This is also called as carry forward order like GFD; broker has to

select the option of GTC for the order. If the order finds match with in the

trading settlement period,the order is executed.If no match is found, the

order is cancelled on the last day of settlement period.This order is not

carried forward to the next settlement period. For example , if a member

place purchase order of 500 shares of SBI @ 690 per shar e and selects the

order as GTC and place an order.If the match is not found on that day it

will be forwarded to the next day until trading settlement period day.

2. KOTAK SECURITIES LTD.



Kotak Securities Limited, a subsidiary of Kotak Mahindra Bank, is the stock broking

and distribution arm of the Kotak Mahindra Group. One of the oldest broking houses in

India, its operations include stock broking and distribution of various financial products.

It is a corporate member of both the Bombay Stock Exchange and the National Stock

Exchange of India. Kotak Securities was founded in 1994 and is headquartered in

Mumbai, India.

Corporate affairs

As of June 30, 2010, Kotak Securities has Rs. 2250 crore of "assets under management"

(AUM). The company also has a research division involved in macroeconomic studies,

sectoral research and company-specific equity research, which regularly publishes stock

market analysis.

Milestones

1995: The brokerage and distribution businesses of Kotak Mahindra Bank are

incorporated into a separate company named Kotak Securities.

2000: Kotak Securities launches its online broking site

(wwww.kotaksecurities.com). Also, the company commences private equity

activity by setting up Kotak Mahindra Venture Capital Fund.

2006: Kotak Securities Launches Kotak Flat[3]

2007: Kotak lines up PMS based on small caps[4]

2008: Kotak Securities launches a GEMS portfolio.[5]

2009: Kotak Securities launches online trading in currency derivatives[6]



Awards and accolades

Fastest growing Equity Broking House by BSE IPF - D&B Equity Broking

Awards for the year 2012

The Best Equity House in India by FinanceAsia for the year 2012[7]

Voted as Best Local Cash Manager[8]

Awarded Best Brokerage Firm in India by Asiamoney three times in a row from

2006 to 2008[9]

Named Best Performing Equity Broker in India in the CNBC Financial Advisor

Awards 2008[10]

Won the Avaya Customer Responsiveness in the Financial Services Sector Award

consecutively in 2006 and 2007[11]

Named the Leading Equity House in India in Thomson Extel Surveys Awards,

2007[12]

Won the Euromoney Award in 2005 for Best Equities House in India and in 2006

and 2007 for Best Provider of Portfolio Management: Equities

Won the Finance Asia Award in 2004 for India‟s Best Equity House and in 2005

for Best Broker in India

Won the Prime Ranking Award (2003–04) for largest distributor of IPOs

Best Broker in India by FinanceAsia for 2010 & 2009[13]

UTI MF – CNBC TV18 Financial Advisor Awards - Best Performing Equity

Broker (National) for the year 2009

Best Brokerage Firm in India by Asia0money in 2009, 2008, 2007 & 2006

Best Performing Equity Broker in India – CNBC Financial Advisor Awards 2008



Avaya Customer Responsiveness Awards (2007 & 2006) in Financial Services

Sector

The Leading Equity House in India in Thomson Extel Surveys Awards for the

year 2007

Euromoney Award (2007 & 2006) - Best Provider of Portfolio Management:

Equities

Euromoney Award (2005)-Best Equities House In India

Finance Asia Award (2004)- India's best Equity House

3. INDIABULLs

Brief Introduction

India Bulls Power Limited develops and intends to operate and maintain power projects

in India. The company was established in 2007 to capitalize on emerging opportunities in



Indian Power sector. The company has five thermal power projects under development

which will have a combined installed capacity of 6615 MW. The company intends to sell

the power generated from these projects under a combination of long term PPA‟s to

industrial and state owned consumers and on merchant basis.The company is also

developing 4 medium sized hydro power projects aggregating to 167 MW in Arunachal

Pradesh.The company is a part of the Adani Group which is a leading business group in

India.The company was incorporated in August 1996 and received a certificate of

commencement of business in September 1996. The company converted into a private

limited company in June 2002, but finally converted back into a public limited company

in April 2007 under the present name.

4. INDIA INFOLINE LTD.



India Infoline Limited is listed on both the leading stock exchanges in India, viz. the

Stock Exchange, Mumbai (BSE) and the National Stock Exchange (NSE) and is also a

member of both the exchanges. It is engaged in the businesses of Equities broking,

Wealth AdvisoryServices and Portfolio Management Services. It offers broking services

in the Cash and Derivatives segments of the NSE as well as the Cash segment of the

BSE. It is registered with NSDL as well as CDSL as a depository participant, providing a

one-stop solution for clients trading in the equities market. It has recently launched its

Investment banking and Institutional Broking business.

INDIA INFOLINE GROUP

The India Infoline group, comprising the holding company, India Infoline Limited and its

wholly-owned subsidiaries, straddle the entire financial services space with offerings

ranging from Equity research, Equities and derivatives trading, Commodities trading,

Portfolio Management Services, Mutual Funds, Life Insurance, Fixed deposits, GoI

bonds and other small savings instruments to loan products and Investment banking.

India Infoline also owns and manages the

websiteswww.indiainfoline.comandwww.5paisa.comThe company has a network of 976

business locations (branches and sub-brokers) spread across 365 cities and towns. It has

more than 800,000 customers.

INDIA INFOLINE LTD

India Infoline Limited is listed on both the leading stock exchanges in India, viz. the

Stock Exchange, Mumbai (BSE) and the National Stock Exchange (NSE) and is also a

member of both the exchanges. It is engaged in the businesses of Equities broking,

Wealth Advisory Services and Portfolio Management Services. It offers broking services

in the Cash and Derivatives segments of the NSE as well as the Cash segment of the

BSE. It is registered with NSDL as well as CDSL as a depository participant, providing a

one-stop solution for clients trading in the equities market. It has recently launched its

Investment banking and Institutional Broking business.A SEBI authorized Portfolio

Manager; it offers Portfolio Management Services to clients. These services are offered



to clients as different schemes, which are based on differing investment strategies made

to reflect the varied risk-return preferences of clients

PRODUCTS AND SERVICES

India Infoline is a one-stop financial services shop, most respected for quality of its advice,

personalized service and cutting-edge expertise. It provide a bouquet of products:

EQUITIES

India Infoline provided the prospect of researched investing to its clients, which was

hithertorestricted only to the institutions. Research for the retail investor did not exist prior to

India Infoline leveraged technology to bring the convenience of trading to the investor‟s location

of preference (residence or office) through computerized access. India Infoline made it possible

for clients to view transaction costs and ledger updates in real time. Over

the last five years, India Infoline sharpened its competitive edge through the following initiatives:



MULTI-CHANNEL DELIVERY MODEL

The Company is among the few financial intermediaries in India to offer a complement

of online and offline broking. The Company‟s network of branches also allows customers

to place orders on phone or visit our branches for trading.

INTEGRATED MIDDLE AND BACK OFFICE

The customer can trade on the BSE and NSE, in the cash as well as the derivatives

segment all through the available multiple options of Internet, phone or branch presence.

MULTIPLE-TRADING OPTIONS

The Company harnessed technology to offer services at among the lowest rates in the

business membership: The Company widened client reach in trading on the domestic and

international exchanges.

TECHNOLOGY

The Company provides a prudent mix of proprietary and outsourced technologies, which

facilitate business growth without a corresponding increase in costs.

SERVICE

Clients can access the customer service team through various media like toll-free

lines,emails and Internet- messenger chat for instant query resolution. The Company‟s

customer service executives proactively contact customers to inform them of key changes

and initiatives taken by the Company. Business World rated the Company‟s customer

service as „Best‟ in their survey of online trading sites carried out in December 2003.

KEY FEATURES

•Membership on the Bombay Stock Exchange Limited (BSE ) and the National Stock

Exchange (NSE)

•Registered with the NSDL and CDSL as a depository participant



•Broking services in cash and derivative segments, online as well as offline.

•Presence across 350 cities and towns with a network of over 850 business locations

Equity client base of over 500,000 clients

CONCLUSION

One should invest in blue chip companies as they grow and fall with

market. Even if market fall, shareholders can enjoy fixed rate of dividend

on such investment and if market rises, investors in blue chip companies

are on benefit side as these companies are first one to grow.

One should recommend its clients new shares only when he has full

fundamental knowledge of that company because if reputed firms s hare

fall no one will say anything but if prices of new shares (which were

recommended to client) fall every client blames broker.Also if any

mistake happens while entering deal of client, client should be the first

person who should be informed about it because it is his money which is

at stake and thus should not be hided from him because he will be more

angry in case he suffers further loss due to such mistake done and hidden

from him.



References

http://www.studymode.com/essays/Research -On-Broking-Houses-

Of-India-590185.html

http://www.slideshare.net/thtsmystyl/comparative-analysis-of-

broking-firms

http://www.indiansharebroker.com/top-10-stock-broker-in-india/

https:/ /www.bonanzaonline.com/

R.P. Rustagi, Investment Management,Sultan Chand & sons

www.smcindiaonline.com

Nseindia.com

Bseindia.com

Google.com

http://nsetradinsecrets.blogspots.com/

http://www.studymode.com/essays/Research-On-Broking-Houses-Of-India-590185.html

http://www.studymode.com/essays/Research-On-Broking-Houses-Of-India-590185.html

http://www.slideshare.net/thtsmystyl/comparative-analysis-of-broking-firms

http://www.slideshare.net/thtsmystyl/comparative-analysis-of-broking-firms

http://www.indiansharebroker.com/top-10-stock-broker-in-india/

http://www.smcindiaonline.com/

http://www.google.com/

Analysis of top stock brokers of India

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