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A

PROJECT REPORT BASED ON

ANALYSIS OF INVESTMENT IN STOCK MARKET


AS SUMMER TRANNING
IN
VISHESH CAPITAL PRIVATE LIMITED
PROJECT GUIDE
Prof. Nisarg Joshi

SUBMITTED BY
NAME
ENROL. NO.

::-

Akash Brahmbhatt
61

A Project Report Submitted In Partial


Fulfillment of Award of M.B.A. Degree

SUBMITTED TO
AHMEDABAD INSTITUTE OF TECHNOLOGY

Analysis of Investment In Stock Market

AHMEDABAD INSTITUTE OF TECHNOLOGY

CERTIFICATE
This is to certify that a financial Report of Analysis of investment in stock market is
submitted by Akash Brahmbhatt to the Ahmedabad Institute of technology affiliated
to Gujarat Technological University in the partial fulfillment of the completion of
practical studies of the requirement of the completion of practical studies of second
semester M.B.A. programme.

Project In-Charge

External

________________

__________

Date: 28th July 2012

Ahmedabad Institute of technology

Vishesh Capital Pvt. Ltd.

Analysis of Investment In Stock Market

Declaration
I, Akash Brahmbhatt, Roll No. 61 students of Semester
II Ahmedabad Institute of Technology (AIT-MBA) hereby declare that I have
successfully completed this project on Analysis of investment in stock market in
the academic year 2011-2013.
I declare that this submitted work is done by me and to
the best of my effort; no such work has been submitted by any other person for the
award of degree.
I also declare that all the information collected from
various secondary and primary sources has been duly acknowledged in this project
report.

Name: Akash Brahmbhatt


Enrollment No:

Ahmedabad Institute of technology

Vishesh Capital Pvt. Ltd.

Analysis of Investment In Stock Market

ACKNOWLEDGEMENT

I am highly thankful to the management and staff of Vishesh Capital Pvt.


Ltd. I am especially thankful to,
(1)

Mr. Amit Rana (Branch manager)

(2)

Mr. Rajesh Thanki (Marketing manager )

For helping me in my practical studies. In addition To allowing me to visit


the company and study the Company and study the organization, they provide
me With many details which were very useful in preparing this report,
I take this opportunity to thank Vishesh Capital Private Limited Director, Prof.
Nisarg Joshi, professors & in charge also for the their excellence support and the
office staff for providing us all the facilities for making the visit more learning
oriented.

With thanks
Place: Ahmadabad

Vishesh Capital Pvt. Ltd,


Akash Brahmbhatt
Enrollment No. - 61

Ahmedabad Institute of technology

Vishesh Capital Pvt. Ltd.

Analysis of Investment In Stock Market

PREFACE

This finance report has played a guiding role in


imparting knowledge of finance world. The financial aspect helps in the monetary
terms which are useful in day-to-day life and corporate world. This training helped
in knowing the financing the finance policies and norms which gave me the basic
knowledge and view of financing. To fulfill the objective of corporative of corporate
worlds theory, the finance report has been prepared. In this direction, I have tried
my level best to present a report.

Education is something which is not given in class


rather; it is a process which can take place anytime and at any place. To survive in a
competitive environment, theoretical knowledge must be supplemented with
practical knowledge. Being a management student, project forms essential part of
our course and bridges the gap between theoretical knowledge and practical
application of it.

India is growing fast as an industrial & corporate nation


with the help of new technology, advance management, and advance knowledge of
people. Now, peoples thoughts are changed and they turn to the management
course. It is said, without effective management and proper planning, not a single
firm can run smoothly, effectively and efficiently.

Ahmedabad Institute of technology

Vishesh Capital Pvt. Ltd.

Analysis of Investment In Stock Market

EXECUTIVE SUMMARY
This report will give you the perfect understanding of the
various investments could be done by investors. I have made the research on the topic
Analysis of investment in stock market.
Assignments assign to me:
The very first assignment assigned to me was to understand whole working and
policies of the organization.
Daily Analysis of share prices of several companies.
Survey on various investment options.
Marketing of the organization.

TABLE OF CONTENTS

Ahmedabad Institute of technology

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Analysis of Investment In Stock Market

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PARTICULAR

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Company Profile
Establishment of Vishesh Capital
Research Methodology
About Vishesh capital
History of Stock Market
History of Indian Stock Market
Exchanges in India
Establishment of BSE
Establishment of NSE
Regulation of Exchanges
Reason for establishment of SEBI
Introduction of Analysis and stock
Introduction of Investment
Characteristics of Investment
Importance of Investment
Investment Avenues
Classification of Investment in stock Market
Classification in terms of Market Capitalisation
Portfolio
Risk and Return in Investment Avenue
Testing of Hypothesis
Analysis of questionnaire
Findings
Conclusion
Learning
Bibliography

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Company Profile
Company Name

: - Vishesh Capital Private Limited.

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Analysis of Investment In Stock Market

Branch Office

: - K2, K3, K4 Shree Krishna Centre,


First Floor, Mithakhali Six Road,
Navrangpura, Ahmedabad - 380009

Corporate Office

: - 518/520, Ground Floor,


Gurukripa Building,
S.V.P. Road, Opera House,
Mumbai-400004
Phone No.:- 022 42121111

Registered Office

: - 7/59, First Floor, Office N0. 1,


Nagdevi Street,
Mumbai - 400 003
Tel: 022 - 43675555 / 500
TOLL FREE NO: - 1800-22-8191

Slogan

: - Relationship, Growing together with unshakable trust

Promoters

: - Mr. Rakesh Kadakia

Name of Directors
Board of director

: - Mr. Mrudang Goradia,


Mr. Ankit Chheda,
Mr. Sanjay Sheth

Establishment of Vishesh Capital

Ahmedabad Institute of technology

Vishesh Capital Pvt. Ltd.

Analysis of Investment In Stock Market

Vishesh Capital Private Limited is an upcoming new


generation broking house & one of the fast-growing companies promoted by technosavvy experienced professionals who have over 100 years collective exposure to
stock market since 1990. Since its inception, Vishesh Capital Private Limited has
sought to provide premium broking services & information, which has helped them
to add not only retail investors but also Institutional Investors, Corporate & High
Net worth Individuals.
Powered by the presence in all segments of financial
services with tried and proven capabilities, investors are served through branches
and franchisees who are lively connected with the Head office to provide
personalized and customized services to clients spread across the country. Most
importantly, with more than 20 years straight experience in the market, you could
be sure of best in class research, operations, backend support and above all, a vision
that inspires trust.

Vishesh Capital Private Limited has planned to make


its presence across the country through a network of business associates under
different and customized schemes, who will be our partner in progress. We are
looking for visionary entrepreneur who have the zeal and enthusiasm to make it big
and help them realizing our vision & mission.

Ahmedabad Institute of technology

Vishesh Capital Pvt. Ltd.

Analysis of Investment In Stock Market

RESEARCH
METHODOLOGY

Statement of problem

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A share market is continuously fluctuating in


recent time, investors needs to understand the implication of different
parameter guiding in this situation for investing in share market. In the
stock market investment is the challenge for investors so that they can get
particular idea about their investment by the report.
Day-by-day new investment option is available
for investors so that they have lots of opportunity in the market for
investment. Due to lack of enough knowledge they are confuse to invest
in stock market. This report will facilitate for them, taking better decision
for their investment.
Objectives of the study
To provide basic idea of different stock market investment instruments to investor.
To provide knowledge to investor about various type of risk associated with various
investment instruments.
To facilitate investor in learning about derivative instrument for future.
To know about volatility in investing in the market.
For knowing where we should invest in future & getting the idea about that from
where we can get maximum return.

Research Design
For any researcher the research methodology is the most
important criteria to decide before the actual research process starts. The Research
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Design for this report is Descriptive because it provides all the opportunities to cover
all the aspects that are required to conduct the research and get an appropriate outcome.

Hypothesis
A hypothesis is a proposed explanation for an observable phenomenon. The
various hypotheses tested in this research are mentioned below:

Methodology
a. Data collection sources:

Primary:

Data collected through questionnaires.

Secondary: Secondary data was collected from website & professional


experts.
b. Sampling Plan:
Sample size: The study is based on 50 people.
Sampling unit: Each was selected in the sample had prior information and were
familiar and not familiar with its usage.
Sampling method: Probability convenience sampling.
Geographical Scope: Areas were selected randomly across the city.
Research Instruments for data collection: Questionnaire.

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Statistical tools: Tests such as chi-square test and ANOVA were used to analyze
data and test the hypotheses

Assumption
The research was based on the following assumptions:
The selected samples represent the whole population.
We have assumed that people who were selected for survey would give true
responses while filling the questionnaire.
The selected samples are those where some are not familiar of investment in share
market.

Beneficiary of study
It will be helped to the people for understanding the concept of investment and
use of it for making better future & maximum return.
To understand the human thoughts behind the investment in stock market. Why
they are investing here & why they are not investing here.
It is beneficiary to the common man whoever can get some idea about the
investment in stock market.
As part of our future it will help us for our financial planning.

Limitation of study
Personal bias:

Some people may have had personal bias due to which they
may not have given the correct information and due to which
the right conclusion may not be have been derived at.

Sample size:

The Sample size taken is only 50; which may not result in
Very accurate results.

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Time limit:

The time limit taken for conducting the research was less, it
could also be one of the limitations of the study.

About the Vishesh Capital Pvt. Ltd.

Vishesh Capital (India) Pvt. Ltd. is a company formed under


the Indian Companies Act, 1956 associated with an NON Banking Financial
Companies regulated and registered under Reserve bank of India (RBI).
Vishesh Capital Pvt. Ltd. Bookings tryst with excellence in
customer relations began more than 18 years ago. Vishesh Capital Pvt. Ltd. has
emerged as one of the top 3 retail broking houses in India and incorporated in 1994.
Today, Vishesh Capital Pvt. Ltd. has emerged as a premium Indian stock-broking
and wealth management house, with an absolute focus on retail business and a
commitment to provide "Real Value for Money" to all its clients.

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Vishesh Capital

V Rise

V= Visionary
I

In a shot span of 18 years since inception, the Vishesh


Capital Pvt. Ltd. has emerged as one of the top five retail stock broking houses in
India, having membership of BSE, NSE and the two leading Commodity
Exchanges in the country i.e. NCDEX & MCX.
The group is started this business as a sub-broker in
1994 with a team of 3. Today the Vishesh Capital Pvt. Ltd. is managed by a team
of 1937 direct employees and as a nationwide network comprising of 21 Regional
hubs, 124 branches and 6810 sub brokers & business associates. Vishesh Capital
Pvt. Ltd. is 100% focused on retail stock broking business unlike any other larger
national broking house. The group currently services more than 5.9 thousand
retail clients.

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Vishesh Capital Pvt. Ltd. habitually generates value


added features without the cost burden being passed on to the clients as they
strongly believe that better understanding of clients needs and wants is their top
priority. Their e-broking facility is one such effort, which gives the client a
platform to access state of the art trading facility at the click of a button.

Mission
To be recognized and respected as the special choice of investors and clients for
entire gamut of financial services by helping them realizing their dreams of
creating and preserving.

Vision
To become a top class financial powerhouse by providing excellent financial
services and innovative products applying best practices with global standards of
technology, expertise, knowledge, solutions and client servicing through a nationwide network.
Incorporated: - 1987
BSE Membership: - 1997
NSE membership: - 1998

Vishesh Capital Pvt. Ltd. Presence:

Nation- wide network of 21 regional hubs


Presence 124 cities
6800 + sub brokers
5.9 Thousand + clients

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Vishesh Capital Pvt. Ltd. Companies

Vishesh Capital Pvt. Ltd.

Vishesh Capital & Debt market Ltd.

Vishesh Capital Commodities Broking Ltd.

Vishesh Capital Securities Ltd

Vishesh detergent powder

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MAJOR PRODUCTS OF THE COMPANY


Broking
Equity-Derivatives-Commodities-Currencies
Research & Advisory
Teletrading
Portfolio Advisory
Structured Products
Mutual Funds
Life Insurance
General Insurance
Loan against shares

Wealth Management
IPO Advisory

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Portfolio Management Services

Benefits at Vishesh Capital Pvt. Ltd


Low Brokerage in intraday & delivery.

Single Screen customized market-watch for MCX / NCDEX with BSE / NSE.

Research on 25 Agro Commodities, Precious and Base Metals, Energy


products and Polymers.

An array of daily, weekly and special research reports.

Highly skilled analysts with professional industry experience.

Active relationship management desk.

Seminars, workshop & investment campus.

History Of Stock Market


In 12th century, France the courtiers was change
concerned with managing and regulating the debts of agricultural communities on
behalf of the banks. Because these men also traded with debts, they could be called
the first brokers.

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History of the Indian Stock Market


1830

:-

1840

:-

1850

:-

1860
1862-63
1874

:::-

1875

:-

1880
1894

::-

Business on corporate stocks and shares in Bank and Cotton


Presses Started in Bombay. Trading list by the end of 1839 got
broader.
Recognition from banks and merchants to about half a dozen
brokers.
Rapid development of commercial enterprise saw brokerage
business attracting more people into the business.
The number of brokers increased 6 to 60.
Number of brokers increased to about 200 to 250.
With the rapidly developing share trading business, brokers used
to gather at a street (now well known as "Dalal Street") for the
Purpose of transacting business.
"The Native Share and Stock Brokers' Association" (known
as "The Bombay Stock Exchange") was established in
Bombay.
Development of cotton mills industry and set up of many others.
Establishment of "The Ahmadabad Share and Stock
Brokers' Association.

Exchanges in India
1. Bombay Stock Exchange
2. National Stock Exchange of India
3. Indian Commodity Exchange
4. United Stock Exchange of India
5. Multi Commodity Exchange
6. MCX Stock Exchange

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7. Over the Counter Exchange of India


8. Inter-connected Stock Exchange of India
9. Madras Stock Exchange
10.Ahmedabad Stock Exchange
11.Bhubaneswar Stock Exchange
12.Cochin Stock Exchange
13.Hyderabad Stock Exchange
14.Calcutta Stock Exchange
15.Delhi Stock Exchange
16.Bangalore Stock Exchange
17.Madhya Pradesh Stock Exchange
18.Jaipur Stock Exchange
19.obul reddy chi stock exchange
20.Magadh Stock Exchange
21.UP Stock Exchange
22.

Vadodara Stock Exchange, Vadodara

Establishment of BSE: -

The first ever stock exchange in Asia (established in


1875) and the first in the country to be granted permanent recognition under the

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Securities Contract Regulation Act, 1956, BSE Limited has had an interesting rise to
prominence over the past 133 years.
While BSE Limited is now synonymous with Dalal
Street, it was not always so. The first venues of the earliest stock broker meetings in
the 1850s were in rather natural environs - under banyan trees - in front of the Town
Hall, where Horniman Circle is now situated. A decade later, the brokers moved
their venue to another set of foliage, this time under banyan trees at the junction of
Meadows Street and what is now called Mahatma Gandhi Road. As the number of
brokers increased, they had to shift from place to place, but they always overflowed
to the streets. At last, in 1874, the brokers found a permanent place, and one that
they could, quite literally, call their own. The new place was, aptly, called Dalal
Street.
In 2002, the name "The Stock Exchange, Mumbai"
was changed to Bombay Stock Exchange. Subsequently on August 19, 2005, the
exchange turned into a corporate entity from an Association of Persons and renamed
as Bombay Stock Exchange Limited.

Establishment of NSE: -

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National Stock Exchange (NSE India) was incorporated in


November 1992 as a tax-paying company unlike other stock exchanges in the India.
The National Stock Exchange (NSE India) is the worlds third largest stock
exchange in terms of transaction volumes. NSE India is based out of Mumbai. It is
the 16th largest stock exchange in the world by market capitalization and largest in
India by daily turnover and number of trades, for both equities and derivative
trading.

Regulation of Exchanges
The Government of India in 1992 with SEBI Act
1992 being passed by the Indian Parliament. SEBI is headquartered in the business
district of Bandra Kurla Complex in Mumbai, and has Northern, Eastern, Southern

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and Western regional offices in New Delhi, Kolkata, Chennai and Ahmedabad
respectively.
The Securities and Exchange Board of India was
established on April 12, 1992 in accordance with the provisions of the Securities
and Exchange Board of India Act, 1992. Initially SEBI was a non statutory body
without any statutory power. However in 1995, the SEBI was given additional
statutory power by the Government of India through an amendment to the Securities
and Exchange Board of India Act 1992. In April, 1998 the SEBI was constituted as
the regulator of capital markets in India under a resolution of the Government of
India.
The SEBI is managed by six members, i.e. by the
chairman who is nominated by central government & two members, i.e. officers of
central ministry, one member from the RBI & the remaining two are nominated by
the central government. The office of SEBI is situated at Mumbai with its regional
offices at Kolkata, Delhi & Chennai.

REASON FOR ESTABLISHMENT OF SEBI


The capital market witnessed a tremendous growth during the 1980s
characterized by increasing participants of public.

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This ever expanding investor population led to variety of malpractices on the part
of companies, brokers, investment consultant & others involved in the security
market.
The unfair practices have eroded investor confidence & multiplied investor
grievance.
The government & stock exchanges were rather helpless in redressing investors
problem because of lack of proper panel provisions in the existing legislation.
In the year 1988, the Rao committee suggested on regulation authority for getting
foreign investment in India & for the security purpose, under Mr.Narsimha rao.
So it was decided to set up a SEBI a separate legal Body.

Introduction of Analysis
Analysis is the process of breaking a complex topic or
substance into smaller parts to gain a better understanding of it. A systematic
examination and evaluation of data or information, by breaking it into its component
parts to uncover their interrelationships. An examination of data and facts to uncover
and understand cause-effect relationships, thus providing basis for problem solving and
decision making. An investigation of the component parts of a whole and their
relations in making up the whole.

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Introduction of Stock
The goods kept on the premises of a business or warehouse
and available for sale or distribution. An instrument that signifies an ownership
position in a corporation, and represents a claim on its proportional share in the
corporation's assets and profits. Ownership in the company is determined by the
number of shares a person owns divided by the total number of shares outstanding. For
example, if a company has 1000 shares of stock outstanding and a person owns 50 of
them, then he or she owns 5% of the company. Most stock also provides voting rights,
which give shareholders a proportional vote in certain corporate decisions.

INTRODUCTION OF INVESTMENT
Investment is the activity, which is made with the
objective of earning some sort of positive returns in the future. It is the
commitment of the funds to earn future returns and it involves sacrificing the
present investment for the future return.
Every person makes the investment so that the funds he
has increases as keeping cash with himself is not going to help as it will not

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generate any returns and also with the passage of time the time value of the
money will come down.
As the inflation will rise the purchasing power of the
money will come down and this will result that the investor who does not invest
will become more poor as he will not have any funds whose value have been
increased. Thus every person whether he is a businessman or a common man will
make the investment with the objective of getting future returns.

TYPES OF INVESTMENT
There are basically three types of investments from
which the investors can choose. The three kinds of investment have their own risk and
return profile and investor will decide to invest taking into account his own risk
appetite. The main types of investments are: Economic investments:These investments refer to the net addition to the capital
stock of the society. The capital stock of the society refers to the investments made in
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plant, building, land and machinery which are used for the further production of the
goods.

This type of investments are very important for the development of the

economy because if the investment are not made in the plant and machinery the
industrial production will come down and which will bring down the overall growth of
the economy.
Financial Investments:This type of investments refers to the investments made
in the marketable securities which are of tradable nature. It includes the shares,
debentures, bonds and units of the mutual funds and any other securities which is
covered under the ambit of the Securities Contract Regulations Act definition of the
word security. The investments made in the capital market instruments are of vital
important for the country economic growth as the stock market index is called as the
barometer of the economy.

General Investments:These investments refer to the investments made by the


common investor in his own small assets like the television, car, house, motor cycle.
These types of investments are termed as the household investments. Such types of
investment are important for the domestic economy of the country. When the demand
in the domestic economy boost the overall productions and the manufacturing in the
industrial sectors also goes up and this causes rise in the employment activity and thus
boost up the GDP growth rate of the country. The organizations like the Central

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Statistical Organization (CSO) regularly takes the study of the investments made in the
household sector which shows that the level of consumptions in the domestic markets.

CHARACTERISICS OF INVESTMENT

Certain features characterize all investments. The following are the main characteristic
features if investments: 1. Return: All investments are characterized by the expectation of a return. In fact, investments
are made with the primary objective of deriving a return. The return may be received in
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the form of yield plus capital appreciation. The difference between the sale price & the
purchase price is capital appreciation. The dividend or interest received from the
investment is the yield. Different types of investments promise different rates of return.
The return from an investment depends upon the nature of investment, the maturity
period & a host of other factors.
2. Risk: Risk is inherent in any investment. The risk may relate to loss of capital, delay in
repayment of capital, nonpayment of interest, or variability of returns. While some
investments like government securities & bank deposits are almost risk less, others are
more risky. The risk of an investment depends on the following factors.
1 The longer the maturity period, the longer is the risk.
2 The lower the credit worthiness of the borrower, the higher is the risk.
The risk varies with the nature of investment. Investments in ownership securities like
equity share carry higher risk compared to investments in debt instrument like
debentures & bonds.

3. Safety: The safety of an investment implies the certainty of


return of capital without loss of money or time. Safety is another features which
an investors desire for his investments. Every investor expects to get back his
capital on maturity without loss & without delay.
4. Liquidity: -

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An investment, which is easily saleable, o/r marketable


without loss of money & without loss of time is said to possess liquidity. Some
investments like company deposits, bank deposits, P.O. deposits, NSC, NSS etc.
are not marketable. Some investment instrument like preference shares &
debentures are marketable, but there are no buyers in many cases & hence their
liquidity is negligible. Equity shares of companies listed on stock exchanges are
easily marketable through the stock exchanges.
An investor generally prefers liquidity for his
investment, safety of his funds, a good return with minimum risk or minimization
of risk & maximization of return.

IMPORTANCE
In the current situation, investment is becomes necessary for everyone & it is important
& useful in the following ways:
1. Retirement planning: Investment decision has become significant as people
retire between the ages of 55 & 60. Also, the trend shows longer life expectancy. The

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earning from employment should, therefore, be calculated in such a manner that a


portion should be put away as a savings. Savings by themselves do not increase wealth;
these must be invested in such a way that the principal & income will be adequate for a
greater number of retirement years. Increase in working population, proper planning
for life span & longevity have ensured the need for balanced investments.
2. Increasing rates of taxation: Taxation is one of the crucial factors in any country, which
introduce an element of compulsion, in a persons saving. In the form investments,
there are various forms of saving outlets in our country, which help in bringing down
the tax level by offering deductions in personal income.
For examples: 1 Unit linked insurance plan,
2 Life insurance,
3 National saving certificates,
4 Development bonds,
5 Post office cumulative deposit schemes etc.
6
3. Rates of interest: It is also an important aspect for sound investment plan. It
varies between investment & another. This may vary between risky & safe investment,
they may also differ due different benefits schemes offered by the investments. These
aspects must be considered before actually investing. The investor has to include in his
portfolio several kinds of investments stability of interest is as important as receiving
high rate of interest.

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4. Income: For increasing in employment opportunities in India.,


investment decisions have assumed importance. After independence with the stage of
development in the country a number of organization & services came into being.
For example: The Indian administrative services,
Banking recruitment services,
Expansion in private corporate sector,
Public sector enterprises,
Establishing of financial institutions, tourism, hotels, and education.
More avenues for investment have led to the ability & willingness of working people
to save & invest their funds.

5. Investment channels: The growth & development of country leading to greater


economic activity has led to the introduction of a vast array of investment outlays.
Apart from putting aside saving in savings banks where interest is low, investor have
the choice of a variety of instruments. The question to reason out is which is the most
suitable channel? Which media will give a balanced growth & stability of return? The

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investor in his choice of investment will give a balanced growth & stability of return?
The investor in his choice of investment will have try & achieve a proper mix between
high rates of return to reap the benefits of both.
For example: 1 Fixed deposit in corporate sector
2 Unit trust scheme

INVESTMENTS AVENUES:There are various investments avenues provided by a country


to its people depending upon the development of the country itself. The developed
countries like the USA and the Japan provide variety of investments as compared to
our country.

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In India before the post liberalization era there were limited


investments avenues available to the people in which they could invest. With the
opening up of the economy the number of investments avenues have also increased and
the quality of the investments have also improved due to the use of the professional
activity of the players involved in this segment. Today investment is no longer a
process of trial and error and it has become a systematized process, which involves the
use of the professional investment solution provider to play a greater role in the
investment process.
Earlier the investments were made without any analysis as the
complexity involved the investment process were not there and also there was no
availability of variety of instruments. But today as the number of investment options
have increased and with the variety of investments options available the investor has to
take decision according to his own risk and return analysis.

An investor has a wide array of Investment Avenue. They are as under:

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Analysis of Investment In Stock Market

B
o
M
n
T ua t
x
S uh ae d
R s
l t el r
e Fde a
u l
nE s
d t a
t e

I n
v e s
t m
e n t

I
n
s
u
r
a
n
c e

D
e r
i v
a t
i v
e s

E
q
L
u
D ia
e tn
p yd
o
s i
t s

On the above diagram the each one investment are understand in details as under,
which are as following.

Insurance
In a broad sense, life insurance may be viewed as an investment.
Insurance premiums represent the sacrifice & the assured sum the benefit. In India, the
important types of insurance policies are:
Health Insurance
General Insurance
A. Fire Insurance
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Analysis of Investment In Stock Market

B. Motor Insurance
C. Marine cargo
Life insurance
A. Endowment assurance policy
B. Money back policy
C. Whole life policy
D. Term assurance policy

Deposit
It is just like fixed income securities earn a fixed return. However,
unlike fixed income securities, deposits are negotiable or transferable. The important
types of deposits in India are:
A. Bank deposits
B. Company deposits
C. Postal deposits

Real Estate
For the bulk of the investors the most important asset in their
portfolio is a residential house. In addition to a residential house, the more affluent
investors are likely to be interested in the following types of real estate:
A. Agricultural land
B. Semi-urban land

Tax sheltered

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It provides benefits to those who participate in them. The most important tax sheltered
saving schemes in India is:
A. Employee provident fund scheme
B. Public provident fund schemes
C.

National saving certificate

Classification of Investment in stock market


EQUITY MARKET
Types of Equity Instruments
Ordinary Shares
Ordinary shareholders are the owners of a company, and each share entitles the holder
to ownership privileges such as dividends declared by the company and voting rights at
meetings. Losses as well as profits are shared by the equity shareholders. Without any
guaranteed income or security, equity shares are a risk investment, bringing with them the
potential for capital appreciation in return for the additional risk that the investor
undertakes in comparison to debt instruments with guaranteed income.
Preference Shares

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Unlike equity shares, preference shares entitle the holder to dividends at fixed rates subject
to availability of profits after tax. If preference shares are cumulative, unpaid dividends
for years of inadequate profits are paid in subsequent years. Preference shares do not
entitle the holder to ownership privileges such as voting rights at meetings.
Equity Warrants
These are long term rights that offer holders the right to purchase equity shares in a
company at a fixed price (usually higher than the current market price) within a specified
period. Warrants are in the nature of options on stocks.

Classification in terms of Market Capitalisation


Market capitalization is equivalent to the current value of a
company i.e. current market price per share times the number of outstanding shares. There
are Large Capitalisation companies, Mid-Cap companies and Small-Cap companies.
Different schemes of a fund may define their fund objective as a preference for Large or
Mid or Small-Cap companies' shares. Large Cap shares are more liquid and hence easily
tradable. Mid or Small Cap shares may be thought of as having greater growth
potential.
Large Capitalization: A term used by the investment community to describe
companies with a market capitalization value more than 10 billion. Large cap is an
abbreviation of the term large market capitalization. Market capitalization is
calculated by multiplying the number of a company's shares outstanding by its stock
price per share.

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Meddle Capitalization: A well established and financially sound company with a


market capitalization between Rs. 1000 cr. And Rs. 5000 cr., which is calculated by
multiplying the number of a companys shares outstanding by its stock price. Mid cap
is an abbreviation for the term middle capitalization.
Small Capitalization: It refers to stocks with relatively small market
capitalization. The definition of small cap can vary among brokerages, but it is a
company with market capitalization of less than Rs. 1000.

Commodities
The modern commodity markets have their roots in the trading of
agricultural products. While wheat and corn, cattle and pigs, were widely traded using
standard instruments in the 19th century in the United States.
A commodity is a basic good representing a monetary value.
Commodities are most often used as inputs in the production of other goods or
services. With the advent of new online exchange, commodities can now be traded in
futures markets. When they are traded on an exchange,
Commodities must also meet specified minimum standards known as basic grade.

Types of Commodities
Precious Metals
Base Metals
Energy

:
:
:

Ahmedabad Institute of technology

Gold and Silver


Copper, Zinc , Steel and Aluminum
Crude Oil, Brent Crude and Natural Gas

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Analysis of Investment In Stock Market

Pulses
Spices
Others

:
:
:

Chana , Urad and Tuar


Black Pepper, Jeera, Turmeric , Red Chili
Guar Complex, Soya, Wheat and Sugar
Commodity trading is an interesting option for those who

wish to diversify from the traditional options like shares, bonds and portfolios. The
Government has made almost all commodities entitled for futures trading. Three multi
commodity exchanges have been set up in the country to facilitate this for the retail
investors. The three national exchanges in India are:

Multi Commodity Exchange


National Commodity and
National Multi-Commodity Exchange

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Debt Market
The debt market is the market where debt instruments are
traded. Debt instruments are assets that require a fixed payment to the holder, usually
with interest. Examples of debt instruments include bonds (government & corporate)
and mortgages.
The equity market is the market for trading equity
instruments. Stocks are securities that are a claim on the earnings and assets of a
corporation. An example of an equity instrument would be common stock shares, such
as those traded on the National Stock Exchange.
Instruments in the Indian Debt Market
Commercial Paper
Commercial paper is a short term, unsecured instrument
issued by corporate bodies (public & private) to meet short-term working capital

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requirements. Maturity varies between 3 months and 1 year. This instrument can be
issued to individuals, banks, companies and other corporate bodies registered or
incorporated in India.
Debentures
The debentures are usually issued by manufacturing companies with
physical assets, as secured instruments, in the form of certificates They are assigned a
credit rating by rating agencies. Trading in debentures is generally based on the current
yield and market values are based on yield-to-maturity. All publicly issued debentures are
listed on exchanges.

Floating Rate Bonds


These are short to medium term interest bearing instruments
issued by financial intermediaries and corporate. The typical maturity of these bonds is
3 to 5 years. FRBs issued by financial institutions are generally unsecured while those
from private corporate are secured. The FRBs are pegged to different reference rates
such as T-bills or bank deposit rates. The FRBs issued by the Government of India are
in the form of Stock Certificates or issued by credit to SGL accounts maintained by
the RBI.
Government Securities
These are medium to long term interest-bearing obligations issued
through the RBI by the Government of India and state governments. The RBI decides the
cut-off coupon on the basis of bids received during auctions. There are issues where the
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rate is pre-specified and the investor only bids for the quantity. In most cases the
coupon is paid semi-annually with bullet redemption features.
Bonds
Most of the institutional bonds are in the form of promissory
notes transferable by endorsement and delivery. These are negotiable certificates, issued
by the Financial Institutions such as the IDBI/ICICI/ IFCI or by commercial banks.
These instruments have been issued both as regular income bonds and as discounted
long-term instruments (deep discount bonds).

Public Sector Undertakings Bonds


PSU Bonds are medium and long term obligations issued by
public sector companies in which the government share holding is generally greater
than 51%. Some PSU bonds carry tax exemptions. The minimum maturity is 5 years
for taxable bonds and 7 years for tax-free bonds. PSU bonds are generally not guaranteed
by the government and are in the form of promissory notes transferable by endorsement
and delivery. PSU bonds in electronic form (demat) are eligible for repo transactions.
Zero Interest Bonds
Zero interest bonds carry no periodic interest payments and they
are sold at a huge discount to the face value. This kind of Bond is sometimes
convertible into equity shares.

Mutual Fund

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An investor can participant in various schemes floated


by mutual fund instead of buying equity shares. In mutual funds invest in equity shares
& fixed income securities. An investment vehicle that is made up of a pool of funds
collected from many investors for the purpose of investing in securities such as stocks,
bonds, money market instruments and similar assets. Mutual funds are operated by
money managers, who invest the fund's capital and attempt to produce capital gains
and income for the fund's investors.

Portfolio

Meaning of portfolio: The term portfolio refers to any collection of financial assets
such as stocks, bonds and cash. Portfolios may be held by individual investors and/or
managed by financial professionals, banks and other financial institutions. It is a
generally accepted principle that a portfolio is designed according to the investor's risk
tolerance, time frame and investment objectives.

A combination of securities with different risk & return


characteristics will constitute the portfolio of the investor. Thus, a portfolio is the
combination of various assets and/or instruments of investments. The combination may
have different features of risk & return, separate from those of the components. The
portfolio is also built up out of the wealth or income of the investor over a period of
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time, with a view to suit his risk and return preference to that of the portfolio that he
holds.
Types of portfolio:
In portfolio Design, we are considering only two types of portfolio. They are as follow:
1. Random Portfolio
2. Sector Portfolio

Random portfolio
Random portfolio consists of the scripts that are
randomly selected by the investor by its own knowledge and preference of the
stocks. Here there is no analysis is done of the script, they are selected on the tips
and buts received by the investors from the external sources.

Sector specific portfolio


Sector specific portfolio includes securities of those
companies which are in the same business. Sector portfolios are very useful when
there is a particular sector which is doing very good and has a bright future a
head. Sector portfolio has the securities of those companies that engage in same
kind of business.
e.g. In late 1990s sector that was providing the highest return was information
technology. Investors who have invested their money in these securities had
earned very high return.

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Hypotheses
Hypotheses 1
Ho: People are investing in share market.
H1: People are not investing in share market.

People invest in stock


market
Particular
Yes
No
18-25years
12
6
26-35years
14
8
36years & above
6
4
Total
32
18

Testing

of

fo

12
14
6
6
Ahmedabad Institute of technology
8
4

fe
11.52
14.08
6.4
6.48
7.92
47
3.6

( fo fe)2/ fe

Total
18
22
10
50

Hypothesis

0.02
0.00045
0.025
0.0356
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0.0008
0.11
0.19185

Analysis of Investment In Stock Market

where :

f o f e

frequency of observed values

frequency of expected values

k number of categories
c = number of parameters estimated from the sample data

Degrees of freedom= (no. of rows-1) (no. of columns-1)


= (6-1) (2-1)

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Analysis of Investment In Stock Market

=5
Significance level= 0.05
Referring to the table of Chi-square test, the value 11.071 is obtained which is
higher than the calculated value.
As can be seen 2 tab 2 cal i.e. 11.071 0.19185
Thus, Ho is accepted. Alternate Hypothesis is rejected.
Here on above hypothesis, we accept Ho hypothesis
which means people are investing in stock market so we reject the alternate
hypothesis. According to my research people are investing in stock market so
alternate hypothesis rejected which means according to null hypothesiss
interpretation is the true is rejected & wrong is accepted. So that the research says
that people are investing in the stock market.

Hypotheses 2
Ho: People are investing in Government security.
H1: People are not investing in Government security.
Preference for Investment
Observed N

Expected N

Residual

26

25.0

1.0

24
25.0
50Test Statistics

-1.0

Government
Private
Total

Preference for Investment


Chi-Square

.080a

Df

Asymp. Sig.
.777
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a. 0 cells (.0%) have expected 49
frequencies less than 5. The
minimum expected cell frequency is 25.0.

Analysis of Investment In Stock Market

Referring to the table of Chi-square test, the value 0.080 is obtained which is
higher than the calculated value.
As can be seen 2 tab 2 cal i.e. 0.080 < 0.777
Thus, Ho is rejected. Alternate Hypothesis is accepted.

Here on above hypothesis, we reject Ho hypothesis which


means People are investing in government security. So we accept the alternate
hypothesis. According to my research People are investing in government
security. So alternate hypothesis accepted which means according to alternate
hypothesiss interpretation is the wrong is accepted & true is rejected. So that the
research says that people are not investing in government security.

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Questionnaire Analysis
As my analysis of 50 questionnaires, we make an analysis of different questions as
under.
People are invest in different area
Common
Particular
Fix Deposit
Post Office
National saving
certificate
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Real Estate
Insurance
Mutual Fund

Investment
Investment of
people
34
19

51

4
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7
27
11

Analysis of Investment In Stock Market

40
35
30
25
20
15
10
5
0

34

27
19
11

Investment of people

Stock Market Investment

Particular

Investment of
people

Gold

12

Silver

14

Equity Market

29

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Analysis of Investment In Stock Market

35
29

30
25
20
15

14

12

10
5
0

Gold

Silver

Equity Market

Investment of people

INTERPRETATION:
As above the Common investment graph, we can analyze
that most of people have trust to invest in fixed deposit because it gives secured return.
And after that, people are select insurance to investment. Thus post office, mutual fund,
real estate, national saving certificate are in the descending forms. When we talk about
investment in stock market, research says that people those are investing in stock
market they are investing in equity more than silver & gold as my analysis.
People are invest in different sector

Particular

Preference of
people

Government

26

Private

24

Total

50

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26.5

26

26
25.5
25
24.5

24

24
23.5
23

Government

Private

Prefrence of people

INTERPRETATION: As the above graph, we conclude that out of 50 people, 26


prefer the government sector for investment. Because they believe that government
sector are secured & trustable for investment. The government investment is also safer
so people give first preference to it. Those people who are trading in intraday they dont
care about they are playing in government or private! There is also another group of
society; they believe that private investment is better & equivalent as government
investment, because they believe that after purchasing of share it is not matter that these
shares are SBI or TCS because the fluctuation of share can be possible in both. So
government is also unable for it with the acceptance of government stockholding.

People are invest in stock market

Particular

Yes

No

Total

Invest in stock
market

32

18

50

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Analysis of Investment In Stock Market


35

32

30
25
18

20
15
10
5
0

Yes

No
Interested in stock market

INTERPRETATION:
My survey of 50 samples says that 32 people are investing
in stock market when 18 people are not investing in share market which is exhibiting
in the graph. This indicates that around 64% of people are investing in stock market by
directly or indirectly in long term or in speculation. When there is also one group of
society around 36% people, they dont want to invest in stock market because of
volatility of market, family restriction, some people also got huge loss in past, due to
risk, no proper guidance etc. These are basic reason due to which they dont have trust
in stock market.

People are not invest in stock market


Reason for not prefer to invest in stock market
Reason for not investing in share market
Risk concern
volatility of market
No proper guidance
Restriction of family
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No. of People
6
3
4
2
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Analysis of Investment In Stock Market

Investment in other sources


Total

3
18

No. of People
7
6
5
4
3
2
1
0

No. of People

INTERPRETATION:
People are not investing in share market because they believing some
reason due to risk & uncertainty of market, no proper guidance, restriction of
family & they also invest in other sources. When I met this people for my research
then I knew that some people are not investing because of they got huge loss in
past in stock market. I got reason that some investor victim of improper advise.
Highest numbers of people are not investing in stock market due to risk concern.

If proper guidance is available, people want to invest or not


Particular
Yes
No
Total

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No. of people
12
6
18

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NO. OF PEOPLE
14
12
10
8

NO. OF PEOPLE

6
4
2
0
Yes

No

INTERPRETATION:
In the research I knew that due to lack of proper advise people
are not investing in market, so I ask them this question for their for knowing scope of
them to invest in stock market. With the help of this I knew that 12 people out of 18
people who denying for the investment in stock market when 6 people are ready that if
they will get proper advise then that they will invest here.

Age group wise numbers of trading years


Age Group
0 to 4
5 to 8
9 to 12
13 to 16
17 to 20
20 and >
Total

Ahmedabad Institute of technology

No. people
11
8
5
3
2
3
32

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Analysis of Investment In Stock Market

12

11

10
8

8
6

2
0

3
2

0 to 4

5 to 8 9 to 12 13 to 16 17 to 20 20 and >
No. people

INTERPRETATION: The highest numbers of people are investing in last 4 years


which is 11 persons. The second number comes between 5 years to 8 years. And in
my survey only I can get 3 people who invest from last 20 or more than 20years,
in this include broker & old age person but some people are at the age of 40-45
still they are investing in last 10 to 15 years only. So this indicates that in the age
group of 30-35 with the comparison of 40-45 years they all are investing from
same number of year. This data gives unexpected result with those who investing
from last 10years & their age is around thirty.

Method is followed by people for trading

Particular

Online

Offline

Both

Total

Investors'
Trade in

15

32

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16

15

14
12
10

8
6
4
2
0

Online

Offline

Both

Investers' Trade in

INTERPRETATION:
As the above graph we can see that online trading is most
preferable by people in the stock market. 15 people are follow online trading, 8 people
are follow offline trading where 9 people are follow both method of trading. It has
been proved that online trading is accurate because we can see on this terminal. While
offline trading makes misunderstanding sometimes.
Risky methods for trading
Particular

Risky

Online

14

Offline

18

Total

32

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20

18
14

15
10
5
0

Online

Offline
Risk

INTERPRETATION:
As the above graph, we can conclude that 18 people
believe that offline trading is risky while other believes that online trading is risky.
Because of fluctuation on terminal those people who invest in stock market, they think
that online trading risky. But this risk is more psychologically. Some people think that
offline trading is risky because sometime it happens that broker move away from the
terminal at that time client make fix deal with broker with his beneficial price and thus
broker make loss. According to their different perception by different people they
believe their own advantage.
Various ways of dealing in stock market

Particular

Method of
Investment

Intraday

10

Delivery

18

Derivative

Total

32

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Analysis of Investment In Stock Market

20
18
16
14
12
10
8
6
4
2
0

18

10

Intraday

Dilivery

Derivative

Method of Investment

INTERPRETATION:
As the above graph, we can conclude that out of total 32
investor, 18 people use delivery for trading while 10 people use intraday and other use
derivative. So we can say that delivery base method is mostly preferable by people. Due
to uncertainty of risk in intraday so people are preferable deliveries. Some people
playing intraday but at the end of day they make loss so they go to the delivery base.

Different instruments of investment in stock market

Particular

Investment by
People

Commodity

10

Equity

18

Currency

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Others

Total

32

20

18

18
16
14
12
10

10

8
6
4

2
0

1
Commodity

Equity

Currency

Others

Investment by People

INERPRETATION: Those people who are investing in stock market, the highest
number of people investing in equity with 18 people out of 32 people. Equity is first
preference of investors in stock market then commodity, Currency respectively.

Time gap of trading in stock market

Particular

Yes

Daily

10

Weekly

Monthly

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Analysis of Investment In Stock Market

Long Term

12

Total

32

14
12

12
10

10

8
4

4
2
0

Yes

1
Daily

Weekly

Monthly

Long Term

INERPRETATION: Most of people prefer to invest in long term base even brokers
also. This is also first preference of brokers because against the comparison with
intraday where people also can go in heavy loss in one day. Long term is more secure
than daily intraday transaction. Some people invest here from their income like 5 to
100% as per their occupassion like job, brokers on the base of it. Brokers speculate
daily where job person transact weekly, monthly or long term.

Brokerage affect in investment decision


Particular
Yes
No
Total

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No. of people
21
11
32

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Analysis of Investment In Stock Market

No. of people
25
20
15

No. of people

10
5
0
Yes

No

INERPRETATION:
There are large number of people are saying that they think about
brokerage before investing. There are also some people they said that they dont think
about the brokerage whatever they should pay for transaction because they think that
their money should not be lost. For this reason, proper advise for investment they are
ready for the payment of high brokerage.

Findings
As my research analysis, I reach at some findings which are as below,

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Analysis of Investment In Stock Market

As my project analysis I find in the market that there are various type of
investment prevailing like Fixed Deposit, insurance, Mutual Fund, Post Office,
Real Estate, Land, Gold, Silver, Bonds & equity.
Above all investment,
I find that there are risk & return in most of the
investments. Those people who are investing in stock market they also invest in
common investment like F.D., insurance, post office, NSC etc. because
government investment are safer, securable and there is less chance in loss of
money.
Because of various types of risk & fluctuation in stock
market most of people go through delivery & people who want to take risk they all
are go through intraday & delivery.
After understanding the various concepts about what are
the investments option and what are the risks associated with the various
investment avenues.
If one does not have enough knowledge, expertise &
analytical capabilities then one should avoid going for direct equity investment as
the chances of loss increases. And the other very important aspect is the regular
monitoring of the portfolio and reviewing is also an important aspect that one
needs to pay close attention to.

Those people who are investing in long term they have good
chance of getting higher return this takes huge time but when investor gets return,
it is unexpected! I see lots of higher return example within these training days.
When there are another people also there they highly lose their money in log
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Analysis of Investment In Stock Market

term! Some people have no concern with brokerage. They think that they will
satisfy with low return but they dont want to lose their saving. So that they are
ready for paying high brokerage for their investment advisor.
Insurance is another good option for investment by people
because after end of the premium people can get their money back & they also
take the advantage of income tax exemption. So they give preference for it.

The share market is very lucrative but when you make your
right decision for investment so that we can make good return therefore we can
say that future can be find in past.

Most of the people are aware about equity market but not
about debt market. Equity market in spite of its fluctuation also, attracts numerous
people to invest in it. People prefer to invest in equity market due to high returns
in short time because people are ready to take risk for their investments. On the
other hand debt market do have fixed but low rate of returns. This is also a
drawback faced by debt market. There are people who want to invest in fixed
returns investments. But due to lack of knowledge they do not know about all the
options like debentures, bonds are available.

The main thing is the rate of brokerage people are paying


on every transaction and the services provided to them. But people who generally

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Analysis of Investment In Stock Market

deals in delivery period transactions they are not much concerned about brokerage
rate. Because they only want satisfied return, they dont want to lose money. As I
see in market, delivery brokerage is higher than the intraday transaction.
Those people who want to invest in intraday than fluctuate
market or fluctuate share is more beneficial for them. It suggests that the customers are
ready to invest money in equity and commodity market which is more risky than
mutual fund.
So we can easily say that the investment in equity market is
subject to market risk and anyone having long-term investment horizon should only
enter into equity market. Most of customer is mostly risk taker and price.

Conclusion

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On the base of my research I reach at some conclusion that


there are various avenues of investment. The investors can invest in fixed deposit,
post office, insurance, real estate, land, mutual fund, government private bonds,
debentures, commodity and equity.
My research says that people give first preference in fixed
deposit of bank due to security and they secondly common investment is insurance
including tax benefit. Those people are investing in stock market they are deal
with intraday and delivery base like long term. For my study when I interact with
brokers, they say that investment in stock market is good for long term so they
also refer to go for long term investments.
There is compulsory return in debt market but due to getting
higher return in minimum time period people are investing in equity market.
People are only going there for quick earning but there is an equivalent chance of
loss of earning. And brokerage charge is standing also for losing here.
The best option for investment is long term investment. The
return in the debt market is fixing but they are not calling the holder of the
company when equity holder are called owner of the company and they have
voting right. Therefore equity market induces to invest there.

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Analysis of Investment In Stock Market

The good way for investment is to set the portfolio by the


experience broker. Investors also can invest in mutual fund but design portfolio
according to wish of investors is more acceptable than investing in mutual fund.
The government of India also should promote to debt market because there is
enough chances of getting continues return.
This research really makes big understanding of the what the
factors affect the people for investment.
There are various investment avenues, which highlights the
phenomenal growth experienced recently, in line with the country's improving
economic fundamentals. The study analysis the investment of the individual and
the various Risks and returns calculation is made in various avenues.

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Analysis of Investment In Stock Market

Learning
My purpose of internship at the company was to know the
actual market prevailing in the economy. To learnt the different ups and downs of
the market for various reasons. When I was about to finish my training, a
responsibility assign to me. Its for giving guidance to new trainees. I was
supposed to teach them what my mentor taught me. I gave them direction
according to my knowledge and my experience. It was great experience for me to
do. And in the same time it was very difficult for me. So it also increases my
Knowledge during this period. So it was very good experience I learnt during my
training in Vishesh capital. It was great time with them.
I learnt many things but still there many things which I could not
learn because of short span of time. And I think I myself have done well there and
tried to learn different things. And further I would like to work with Vishesh
capital to learn more things. I learn how intraday, delivery transaction is done,
how deal with customer, what market situation is best for transaction in intraday.

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Analysis of Investment In Stock Market

Questionnaire
Based On research of

Analysis of Investment in Stock Market


Personal details:
Name:
Age:
Address:
Occupation:
Contact:
1. In which area do you invest?
Fix deposit
Post office
National savings certificate
Gold
Silver
Equity
2. In what sector do you prefer most for investment?
Government
3. Do you invest in share market?
Yes

Real Estate
Land
Insurance
Bonds
Mutual Fund
Other
Private
No

A) Why do you not prefer to invest in the share market?


Risk Concern
No proper guidance
Volatility of market

Restriction of family
Investment in other sources
any other reason (Please
Specify) ______________
B) If proper guidelines provided, would you like it to investment in stock market?
Yes
No

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Analysis of Investment In Stock Market

IF YES,
4. Since how many years you have been investing in stock market?
___________________________________________________
5. How do you trade in stock market?
Online
Offline
Both
6. In what type of trade in stock market do you think is risky?
Online
Offline
7. What % of earning do you invest in stock market?
_______________________________________________________
8. What type of method for investment do you follow?
Intraday
Delivery
Derivatives
9. In what of type of market instrument do you invest?
Commodity
Currency
Equity
Other
10. How often do you trade?
Daily
Weekly
Monthly
Long term
11. What % of brokerage on investment do you pay?
Intraday
_______%
Delivery _______ %
Derivatives_______ %
12. Does brokerage affect your decision?
Yes
No
13. Recommendation
______________________________________________________
______________________________________________________

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Analysis of Investment In Stock Market

Bibliography

www.visheshcap.com
www.nseindia.com
www.bseindia.com
www.sebi.gov.in
www.wikipedia.org
www.investopedia.com

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