A comparative study on services provided by the different broking firms

PROJECT SURVEY REPORT

Submitted To ICFAI NATIONAL COLLEGE, BIKANER For the Degree Of

MASTER OF BUSINESS ADMINISTRATION

By

Rajesh Prajapat
INC, Bikaner (6nd11912)

Under Guidance of Mrs. Ritu S Sisodia Faculty of INC, Bikaner

ICFAI NATIONAL COLLEGE, BIKANER

2006-2008

ACKNOWLEDGEMENT
It is great pleasure for me to express my hearty and sincere gratitude to my Faculty Guide, Mrs. Ritu S Sisodia. Faculty of Marketing of INC, Bikaner. Under whose genuine and inspiring guidance the present piece of investigation could get its present shape within such a limited range of time. The investigator feels his duty to express his sincere thanks to Ms. Krati Taldar and Ms. Chanchal Sharma Faculty of INC, Bikaner for their suggestions, encouragement and help. Special thanks are also due to all the employees, customers for their precious cooperation provided to the investigator during the period of data collection. I am thankful to my brother & my friends. Their inspirations, affection, care and whose blessings have given me necessary enthusiasm and encouragement to complete this work. At last but not the least I express my thanks to Mr. Aswani Diwakar , IT Faculty of INC, Bikaner. for providing support in formatting and writing this report and giving me assistance as and when required..

Place: Bikaner Date:

Rajesh Prajapat INC Bikaner (6ND11912)

TABLE OF CONTENTS
Particulars
Acknowledgment----------------------------------------------------------------------------------List of Tables& Figures .. Chapter -I.. Introduction 1.1 Introduction to the Stock Broking Houses 1.2 Introduction of the Broking Firms 1.3 Introduction to the Subject CHAPTER II... PROJECT PROFILE 2.1 Title of the Study 2.2 Objective of the Study 2.3 Significance of the study 2.4 Use of Research Method and Design 2.5 Population and Selection of Sample 2.6 Instrumentation 2.7 Data Collection 2.8 Introduction to Psychometric Test 2.9 Scope of the Study, and 2.10 Limitations of the Project Study

CHAPTER -III.. Figures and findings 3.1 Introduction 3.2 Findings from Questionnaires CHAPTER IV. REPORT OF THE PROJECT 4.1 Conclusions 4.2 Recommandations & Suggestions BIBILIOGRAPHY ANNEXTURES...

LIST OF TABLES & FIGURES

-----------------------------------------------------------------------------------------------------------Table No. Particulars

3.1 3.2 3.3 3.4

Various accounts of customers in all broking firms Market share of all broking firms Comparison of broking charges of all broking firms Comparison of A/C opening charges of all broking firms

CHAPTER I
Introduction 1.4 Introduction to the Stock Broking Houses 1.5 Introduction of the Broking Firms 1.6 Introduction to the Subject

Objective of Stock Broking Firms

Broking Firms
A transaction on a stock exchange must be made between two members of the exchange a typical person may not walk into the New York Stock Exchange (for example), and ask to trade stock. Such an exchange must be done through a broker. There are three types of stock broking service.

Execution-only, which means that the broker will only carry out the client's instructions to buy or sell. Advisory dealing, where the broker advises the client on which shares to buy and sell, but leaves the final decision to the investor. Discretionary dealing, where the stockbroker ascertains the client's investment objectives and then makes all dealing decisions on the client's behalf.

In addition to actually trading stocks for their clients, stock brokers may also offer advice to their clients on which stocks, mutual funds, etc. to buy.

Definition of Stock Broker

All stock investors have one thing in common, whether they trade in penny shares or are long-term share investors; they all have to work through stock brokers.

When entering the world of the stock market, choosing a stock broker is your first priority and may be the most important choice you will make. There are many choices in stock brokers and you need to understand the key differences in each in order to better make your decision. Traditionally, full-service stock brokers were the only type that was available. They charged very high commission fees but also gave a lot of help and guidance in choosing the right investments. In 1975, all of that changed and the discount stock brokers became the reigning champs of the investing world. In the last decade, the internet has permitted individual investors to research their own potential stocks for themselves, and even buy and sell stocks. There have been advantages to the arrival of the discount stock broker and online brokerage firm, but for some investors it has led to more mistakes in a smaller time. The key is doing your research and investing wisely. On one end of the spectrum are the discount and online stock brokers. These brokerage firms act as order takers for their investors. The investor places an order on the telephone or online. The only help given is with the technical aspects of the website or the ordering process. There is no guidance given as to which stocks to buy, when to buy or when to sell. Many online brokerage firms offer their members access to stock market research, but this is provided by a third party. The account management tools help you understand how greatly you have invested and where it is going. These tools are generally online or downloadable. The discount and online stock brokers are for people either already familiar with the stock market, or those who do not have much money to invest. They do require that the investor spend some time researching and planning their investments. If you are interested in doing your own research or want to dodge hefty brokerage fees than discount and online brokers may be for you.

The next level in service is a discount or online brokerage with an assistance stock broker. The assistance stock broker will give a small amount of help. In online brokerage firms, the assistant stock broker takes the form of offering more research available and newsletters with investing tips. There is still a quantity of research that wants to be done by the individual investor, but these brokerages at least point their clients in the correct direction. The traditional full service stock broker provides recommendations for specific shares that would be good for your portfolio. The stock broker analyzes your financial situation to figure out your needs. They put together an investing plan that is reviewed periodically and adjusted as needed. Full-service stock brokers are an admirable choice for those who dont have the time or the interest in staying on top of the newest economic news. The full service stockbroker does all the research for you and presents you with the best investments for your situation. Their clients are handled with awareness to special details and goals. This awareness does come with hefty commission fees, but considering the quantity of work and dedication that full service stock brokers give, these fees are understandable. Traditional full-service brokers make money based on the quantity of transactions they facilitate. A money manager is one level up from a full-service stock broker in their level of economic services. Money managers (also called economic advisors) will work with clients to develop their total financial picture, which may or may not include investing in stocks. Money managers support stocks and bonds for clients. Each one has his or her own exclusive style and so it is important that you decide wisely to make sure your money manager has the same economic philosophy that you do. A professional money manager does not collect commissions on transactions. They are salaried from a percentage of the assets under their management. In that way, they are working for you and themselves at the same time. If your portfolio grows, their commission will grow as well.

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CHAPTER II
PROJECT PROFILE 2.1 Title of the Study 2.2 Objective of the Study 2.3 Significance of the study 2.4 Use of Research Method and Design 2.5 Population and Selection of Sample 2.6 Instrumentation 2.7 Data Collection 2.8 Introduction to Psychometric Test 2.9 Scope of the Study, and 2.10 Limitations of the Project Study

PROJECT PROFILE
Project profile is a part of the methodology of research which is used for a survey research work. It is a way to solve the research problem. In the Project Profile various steps are generally used by a researcher to study his/her research problem related to the project selected by him or her. These steps are: 2.1 Title of the Study, 2.2 Objective of the Study, 2.3 Need & Significance of the Study, 2.4 Use of the Research Method and Research design, 2.5 Population and Selection of Sample, 2.7 Instrumentation, 2.8 Data Collection, 2.9Introduction of the Psychometric test, 2.10 Scope of the Study 2.11 Limitations of the Project research.

2.1 Title of the Study The investigator selected the following title of the study related to his study related to his project: Services provided by the different broking firms.

2.2 Objective of the Study The main objective of the present study was to compare Services provided by the different broking firms. There were some of the secondary objectives of the present study. There were as under:

2.2.1 To develop the related questionnaires for measuring the comparative Services provided by the different broking firms. 2.2.2 To study the customers preference for the different broking firms. 2.2.3 To explore the preferential attitude of customers towards the services of broking firms. 2.2.4 To investigate the problems of customers with regard to services of broking firms. 2.2.5 To analyze the facilities/services which are being provided to the employees and customers by broking firms. 2.2.6 To study the effects of faster delivery, attractive advertisement and quality satisfaction etc. on customers demand of services of broking firms. 2.2.7 To familiarize the concerning companies, the employees and the customers with the features of the results obtained in the present research and to encourage them to modify their activities/behaviors according to the obtained results.

2.3 Need & Significance of the Study A review of related literature of security market reveals that in India & Abroad, a few surveys have been conducted on the development and problems faced by the broking firms. But, no specific study has been conducted on the Services provided by the different broking firms. Therefore, the investigator felt the untouched area of research for the present study. The need & Significance of the present study was felt on the following grounds: 2.3.1 General Point of View

At present, like other countries of the world, in India, the broking firms are facing the various problems in the field of their products. Broking firms have contribution in the market-share with regard to their services. Service-level depends upon so many variables. Quality Satisfaction, Customers Demand, charges, a/c opening fees, Provision of Facilities, market-share, timing & tips, & Advertising Strategy etc, Organizational structure of an enterprise, human resources, Govt. Policies and business ethics etc. are some of the variables which have relationship with the contribution towards service-level of different broking firms. Hence, the investigator felt the need to study the comparative market-share of Coca-Cola & Pepsi. 2.3.2 Individual & Social Point of View The broking firms require some media for development. If the society provides suitable environment for the development of broking firms, the firms can contribute towards the market-share for the benefits of the customers. If, the environment is adverse, the firms cannot perform their role effectively for the benefits of society. Similarity, it is necessary for broking firms to identify the trading behavior of customers. If the brokers behavior is not good towards the customers, and the old techniques of trading in the benefits of broking firms, the firms can emphasize the provisions of facilities to customers for increasing their marketshare. Therefore, the present study has a great significance from both the individual as well as the social point of view.

2.3.2 Academic Point of View The literature available on the broking firms reveals that there are some thirst areas upon which no studies have been conducted. These areas are: Marketing management, Human Resource Management, Job-Satisfaction of the broking firms employees and executives. Policies of Govt. impact of infra-structural

development. Business Ethics and Responsibilities etc. all of these thirst areas are related with service-level of the broking firms. 2.3.3 Practical Point of View The investigator felt the lack of proper tool for the measurement of broking firms contribution towards the service-level at the Location level. Therefore, the investigator himself developed the Questionnaire related to the service-level (Customer Form). Lastly, the significance of the present study was felt for the firms to motivate the personnels of Lower, Middle & Top Management to work effectively on the basis of the results obtained. Various facilities can be provided to retailers as well as to the personnels of various levels of management. 2.4 Use of Research Methods and Design In the research work, a method and research design is used according to the nature & objective of the research problem. According to J.W. Best (1981), four types of methods can be used for a research problem. These methods are: Historical Research Method, Descriptive Survey Research Method, Experimental Research Method and Action Research Method. In the present study, Descriptive Survey Research Method has been used. The term survey suggests gathering of related evidence to current conditions. Therefore, Survey Research is a Method of collecting and analyzing of data obtained from the large number of respondents representing a specific population. There are four independent variables in the present study. Each variable has two levels, so the research design for the present study is the Factorial Research Design. The independent variables with their level are as follows: (A) (B) (C) Age: above Thirty years 7 below Thirty years. Experience: More than Five years & Less than Five years. Category: General Category & Other Category.

The independent variable the present study is service-level and its dimensions. An overall, Rigid descriptive research design has been used focusing attention on 2.5 Formulation of objectives of the study, Designing method for data collection, Selection of sample Size, Collecting the data, Processing and Analysis of the data, Findings & Conclusions, Reporting of the study, Bibliography & Annexure.

Population and Selection of Sample All the customers who were dealing in the products of broking firms in the main areas of Bikaner city constituted the population for the present study. All of the customers of this area were also constituted the population for the present study. It was not possible to include the whole population in the study. Therefore, it was felt necessary to select a sample of the population which could represent the whole population. A sample of 200 customers (200 related all broking firms) were randomly selected from the concerned area.

2.6

Instrumentation The following tools have been used in the present study: 2.6.1 Form) Questionnaire Related to service-level of broking firms (Customers

All the above noted tools were constructed and developed by the investigator himself.

2.7

Data Collection A psychometric test means a standardized test which is used to analyze and interpret the collected data related to a research problem. Its purpose is to test the hypotheses formulated. In the area of research, two types of psychometric tests are used : (A) (B) Parametric or Standardized test, and Non- Parametric or Distribution free test.

(A)

Parametric or Standardized Test The parametric tests are as Z test, t-test, x2 (chi- Square) test, F-test, Karl Pearson Product Moment Coefficient etc.

(B)

Non- Parametric or Distribution free test Some of the important non-Parametric tests are : Sign test: One sample runs test; Rank Sum test; Fisher-Irwin test; Kendalles Coefficient; Kruskal-Wallis test and Spearmans Rank Correlation test etc.

2.10

Scope of the Study In the scope of the present study, the following contents have been included2.10.1 2.10.2 In the present study, all the broking firms have been included. Only the various categories of customers of all companies, who are dealing in and consuming respectively the companys products, have been included. 2.10.3 Only the main area of Bikaner city has been brought into the scope of the present study. 2.10.4 In the present study, only 40% sample of total customers was included.

2.10.5 2.10.6

This study has a sample of 200 customers of all the broking firms. Though, the service level depends upon a series of dimensions, but in the present study only eight dimensions have been included. These dimensions are: Quality Satisfaction, Customers Demand, charges, a/c opening fees, Provision of Facilities, market-share, timing & tips, & Advertising Strategy etc.

2.11

Limitations of the Project Study

The present investigation has the following limitations2.11.1 Time and money were the greatest limitations in carrying out the present investigation. 2.11.2 The number of retailers being illiterate or less, they took a lot of time in providing the data. 2.11.3 A few respondents were influenced by some specific factors, so they did not car to provide the satisfactory response. 2.11.4 Another limitation was the non-availability of suitable tools to measure the service level of the companies. Tools were developed and standardized by the researcher himself. 2.11.5 The customer not has given much information about taking his risk in share trading. 2.11.6 The customer are interested to open demat a/c or share trading. 2.11.7 Some customer dont know about the demat a/c or share trading. 2.11.8 Now the people invest in the securities very frequently but mostly are the small investor. 2.11.9 Income of investor not so much & not having proper knowledge

CHAPTER III
Figures and findings 3.1 Introduction 3.2 Findings from Questionnaires

Figures and findings

3.1 Introduction Analysis and interpretation is an essential part of a research work. For this purpose, the necessary data are collected with the help of Questionnaires & standardized Psychometric tests. After collecting the data, the data are tabulated. After tabulation, the analysis and interpretation work is completed. In the process of analysis and interpretation, the findings are obtained with the help of statistical treatment according to the proposed objectives. In the present research, the following Questionnaires and standardized tool were used for achieving the findings(i) Questionnaires of shopping style of customers

3.2 Finding from the Questionnaires In the present research work the following types of Questionnaires and scale have been used: 3.2.1 Questionnaire Related to SERVICE-LEVEL (Customers Form)

3.2.2

Findings from the Customers Questionnaire related to service-level For the purpose of the present study, 200 customers were randomly selected from of the Bikaner city. These customers were using the demat a/c of all broking firms.

No. of a/cs of various companies

Table No. 3.1 Various accounts of customers in all broking firms

Name of company India info line Hem securities ICICI direct.com Kotak mahindra Anagram Karvy Reliance Money Others

No of A/C 405 200 250 128 27 52 34 200

FIGURE 1 Showing the accounts of all broking firms

A C C O U N TS 450 400 350 300 250 200 150 100 50 0

Accounts

A C C O U N TS

Market share of various broking firms

Table No. 3.2 Market share of all broking firms

Name of company India info line Hem securities ICICI direct.com Kotak mahindra Anagram Karvy Reliance Money Others FIGURE 2

Ind ia He info m l se in e c IC IC uriti e Id ir e s Ko c tak t.co Ma m hin d An ra ag r am Re Ka lia rvy nc eM on ey Ot he rs

c o m p a n ie s

Market Share 31.25 15.43 19.29 9.87 2.08 4.01 2.63 15.43

Showing the market-share of all broking firms M AR K E T S H AR E

35 30 MARKET SHARE IN PERCENTAGE 25 20 15 10 5 0 M ark et S hare CO M P AN IES India info line Hem s ec urities ICICI direc t.c om K otak M ahindra A nagram K arvy Relianc e M oney O thers

Brokerage charges of all broking houses

All firms are having different broking charges as their rulesTable No. 3.3 Comparison of broking charges of all broking firms

Name of company India info line Hem securities ICICI direct.com Kotak mahindra Anagram Karvy Reliance Money

Brokerage charges(Rs) .03 & .30 .05 & .50 .07 & .50 .05 & .50 .05 & .50 .05 & .70 .03 & .50

FIGURE 3 Showing the broking charges of all broking firms

BROKERAGE CHARGES
BROKERAGE IN RUPEES 0.8 0.7 0.6 0.5 0.4 0.3 0.2 0.1 0
lin e se cu IC rit IC ie s Id ir e ct Ko .c om ta k M ah in dr a An ag ra m Ka rv y in fo on ey

Intera Day Delivery day

In di a

He m

COMPANIES

A/C opening charges of various companies

Each firm are charging some money as a/c opening fees.if we are comparing all these then
Table No. 3.4 Comparison of A/C opening charges of all broking firms

Name of company India info line Hem securities ICICI direct.com Kotak Mahindra Anagram Karvy Reliance Money

Re l

ia nc e

Charges 555 350 750 750 750 750 750

FIGURE 4 Showing the account opening charges of all broking firms

account opening charges
800 700 600 500 400 300 200 100 0
lin e se cu rit IC ie IC s Id ir e ct .c Ko om ta k M ah in dr a An ag ra m Ka rv y in fo on ey

charges

Series1

In di a

He m

various organizations

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Get ready to change the way you transact and invest in financial products and services. Whether you wish to transact in Equity, Equity & Commodity Derivatives, IPOs, Offshore Investments, or prefer to invest in Mutual Funds, Life & General Insurance products or avail Money Transfer and Money Changing services, you can do it all through Reliance Money. Simply open a Reliance Money account and enjoy the convenience of handling all your key financial transactions through this one window.

Benefits of having a Reliance Money account

1) It's Cost-effective You pay comparatively lower transaction fees. As an introductory offer, we invite you to pay a flat fee of just Rs. 500/- and transact through Reliance Money. This fee is valid for two months or a specified transaction value*. See the table for details.

Validity (whichever is Access Fee (Rs.) 500 1350 2500 earlier) Time Turnover Validity 2 months 6 months 12 months Validity Rs. l Cr. Rs. 3 Cr. Rs. 6 Cr.

Turnover limit Non-delivery turnover Rs. 90 Lac Rs. 2.7 Cr. Rs. 5.4 Cr. Delivery turnover Rs. 10 Lac Rs. 30 Lac Rs. 60 Lac

2) It offers Single- Window Access Through Reliance Money's associates, you can transact in Equity, Equity & Commodity Derivatives, Offshore Investments **, Mutual Funds, IPOs, Life Insurance, General Insurance, Money Transfer, Money Changing and Credi t Cards, amongst others. 3) Its Convenient You can access Reliance Money's services through a) The Internet, b) Transaction Kiosks, c) The phone (Call & Transact) and through d) Our all - India network of associates On an assisted trade (through the Call Centre or our network of associates) a charge of Rs. 12 per executed trade will be applicable. 4) It's Safe Your account is safe guarded with a unique security number that changes

every 32 seconds. This number works as a dynamic password to keep your account extra safe. 5) It provides you a Demat Account You get your own Demat Account with Reliance Capital at an annual fee of just Rs. 50/-. 6) It provides you a 3...in...l facility You can access your Banking, Trading and Demat Account through a single window and transfer funds across accounts seamlessly! 7) It provides you value-added services At www.reliancemoney.com you get a) Reliable research, including views of external experts with an enviable track record. b) Live news updates from Reuters and Dow Jones. c) CEOs/ Expert views on the economy and financial markets. d) Tools that help you plan your investments, tax, retirement, etc, in the Personal Finance section. e) Risk Analyzer for analysis of your risk profile. f) Asset Allocates to build an appropriate investment portfolio.

Religare Enterprises Limited is Ranbaxy Laboratories Limited promoted financial product and service Provider Company. Religare provide its service in three different segments including Retail, Wealth management and the Institutional spectrum. Religare Securities Limited is a subsidiary company of Religare Enterprises Ltd and involve in equity related services include online trading at BSE and NSE, Derivatives, commodities, IPO, Mutual fund, Investment banking and institutional broking services.

People who wonder where Religare word came from, it's a Latin word meaning 'to bind together'.

Type of Account R-ACE (Basic) It's the basic online trading account provided by Religare. Investor can trade and access their account information online and over the phone as well.This account comes with a browser based online trading platform and no additional software installation needed. This account also provides Lifetime free DP account with no annual maintenance charges. R-ACE Lite (Advanced) It's the advanced account option for the investor with Religare. This trading account provides the entire feature of R-ACE (Basic) account. In addition it also provides real-time streaming stock quotes and alerts. This trading platform is also browser based and no software installation is needed. R-ACE Pro (Professional) As the name indicates this account is for high volume traders. Along with the features from above 2 accounts, this account also comes with a Trading Terminal, software which needs to install on your computer. This terminal directly connects the investor to stock market and having all industry standard Treading terminal features including technical charting (intra-day and EOD), multiple watch list, advanced hot-key functions for faster trading, derivative chains, futures & options calculator. As in basic and advance account, trading is available online through internet and offline though phone.

Brokerage and Account opening fees: Religare offers three kinds of accounts as above. Below are detail about fees and activation charges for each account: 1. R-ACE Account activation charges Rs.299/-. Minimum margin of Rs.5000/- required. 2. R-ACE Lite Account activation charges Rs.499/-. Minimum margin of Rs.5000/- required. 3. R-ACE Pro Account activation charges Rs.999/-. Minimum margin of Rs.10,000/- required.

4. All the account comes with free annual maintenance charge. 5. All account comes with free DP account. 6. Brokerage at Religare On the basis of volume and frequency of trading, Religare provide different options for brokerages. On the broader way they divided into three categories:
o

Classic Account Intraday brokerage varies from 0.3% to 0.5%. Delivery brokerage varies from 0.30% to 0.50%. Derivatives brokerage varies from 0.3% to 0.5%. Freedom Account In this payment scheme, investor has to pay a fix amount in advance for Monthly (Rs 500/-), Quarterly (Rs.1400), Half-yearly (Rs 2500) or Annual Subscription (Rs 4000). This one time payment enable account holder to trade for Rs. 3,00,000 intraday &

derivative trading and Rs. 40,000 of delivery based trading for zero brokerage.
o

Trump Account Trump account has two payment options, Trump Plus and Trump Super plan: 1. Trump Plus has annual subscription fees of Rs 2,500, Brokerage on Delivery Trades of 0.25% and Brokerage on Intraday Trades & F&O Trades of 0.025%. 2. Trump Super has annual subscription fees of Rs. 15,000, Brokerage on Delivery Trades of 0.15% and Brokerage on Intraday Trades & F&O Trades of 0.015%.

How to open account with Religare

For online trading with Religare, investor has to open an account. Following are the ways to open an account with Religare:

Call them at phone number provided below and ask that you want to open an account with them. Visit http://www.religareonline.com/applyonline.asp and fill a form. Representative from religare will contact you. Visit one of their branches. Religare has a huge network all over India with more than 300 branch locations and a chain of franchises. Click on http://www.religareonline.com/branches.asp this link to find out your nearest branch. Just select the place near you and you'll find a manager to assist you there.

From the mobile phone type "RELIGARE" and send it to 54646. Customer representative from Religare will call you with in 24 hours.

Advantages of Religare 1. Religare gives interest on unutilized cash when investor is waiting to make next trade or online investment. 2. Religare Allow their investor to trade without having to worry about cash margin. Investor can get exposure (on cash segment) as high as 20 times for intraday trades. 3. They provide intraday reports and historical charting. 4. Lifetime free DP account. 5. Varity of fee structure to fulfill need of different type of investors.

CHAPTER IV
REPORT OF THE PROJECT 4.1 Conclusions 4.2 Recommandations & Suggestions

Report of the project

4.1 introduction The report, whether it is a thesis, dissertation or a short term-paper, or a project report, usually follows a fairly standardized pattern. The following outline presents the usual sequence of topics: 4.1.1 Preliminary Section In this section the title, certificate of the title, acknowledgement, preface, indexing of 4.1.2 contents, list of tables and list of figures etc are included.

Main Body of the Report

In this section introduction of the organization, statement of the problem, significance of the problem, objectives of the study, hypotheses, limitations & scope of the research, use of method and research design, population & sampling, instrumentation, data collection, statistical treatment of data, analysis and interpretation, findings, conclusions, implications & suggestions etc. are included. 4.1.3 Reference Section In this section Bibliography and Annexure are included. The conclusions, implications and suggestions are the most useful part of a project reporting. These are given as follows4.2 Conclusions

Historical background of security market reveals that the some broking firms are much newer in all broking firms. Therefore, it has more efficient and capable Human Resource Management. So, the investigator decided to compare the service-level of broking firms. The following conclusions were yielded by the investigator from the present research work: (i) In Bikaner city, the reliance money providing more and more attractive schemes on its services in comparison to other broking firms Company. (ii) After conducting the market survey in the area of Bikaner city, the investigator concluded that Indiainfoline is dominating over all firms. (iii) (iv) Customers have a demand for online services of broking firms. According to the opinion of the total sample of customers, the MarketShare of Indiainfoline dominates the Market-share of all firms in the area of Bikaner city. (v) According to Age group I having above 30 years of age and Age group II having below 30 years of age, latest technology is helpful for them. (vi) According to opinion of Experienced Group I & II of customers, the firms maintain the good relation with them.

(vii)

Through Reliance Money's associates, you can transact in Equity, Equity & Commodity Derivatives, Offshore Investments **, Mutual Funds, IPOs, Life Insurance, General Insurance, Money Transfer, Money Changing and Credit Cards, amongst others.

(viii)

Due to its quality satisfaction, Karvy & ICICI direct has controlled more Market-Share in comparison to others.

(ix) (x)

Online trading is very user friendly and one doesn't need any software to access. They provide good quality of services like daily SMS alerts, mail alerts, stock recommendations etc.

(xi)

Intraday charges of indiainfoline are less as compare to others and karvys charges are high.

(xii) (xiii) (xiv) (xv) (xvi)

In All four Brokers having the 75% of the over all market. In popularity of Security market the customers having the great interest. The online system is Indiabulls ltd stronger than other competitors. A large number of executive and good quality of the workers is the plus point for Broker Firms. All are performing their best.

4.3 Recommendations/Suggestions for Improvements On the basis of the conclusions of present study, a few suggestions for improvements are as follows : (i) Each type of services should be provided by the all the firms in sufficient quality. (ii) All firms should charge less as like Hem securities. The firms provide more and more facilities to customers for the purpose of advertisement. (iii) All the broking firms should provide proper supply of its products by improving the Distribution Channels, Advertisement Strategy and efficiency of its employees.

(iv)

Better schemes and benefited should be provided to the customers by the all firms.

(v)

Broking charges of karvy are high so the firms have to charges low so that more customers can attract.

(vi)

The customers who are dealing from last 5 years should be provided with some extra schemes and facilities.

(vii)

Quality of the services should be improved by the reliance money.

BIBILIOGRAPHY

Useful links about ShareKhan/Contact Sharekhan at:

1. ShareKhan Website: http://www.ShareKhan.com 2. Product Demo - SpeedTrade: http://www.sharekhan.com/Demos/speedtrade/index.html 3. Product Demo - Classic: http://www.sharekhan.com/Demos/classic/index.html 4. Email: info@sharekhan.com 5. FAQs: http://sharekhan.com/KnowledgeCentre/Sharekhan_FAQ.aspx 6. Phone: 022-66621111 7. Toll Free: 1-800-22-7500

Useful links & info about Indiabulls

1. Indiabulls Website: http://www.indiabulls.com

2. E-mail: helpdesk@indiabulls.com 3. Contact No.: 1800-11-11-30, 0124-4572444

Useful links about Reliance Money

1. 2. 1. 2. 3. Reliance Money Website: : www.RelianceMoney.com Branch Locator: Reliance Money Branch Locator Website: www.RelianceMoney.com Email : CustomerCare@RelianceMoney.com Phone : 022-39886000

Useful links about Religare / Contact Religare at:

1. 2. 3. 4. 5. Website: www.religareonline.com Email: race@religare.in, igreligare@religare.in FAQs: https://nat.religaresecurities.com/stsb/presentationlayer/FAQ.pdf Phone: 011-44312345 Toll Free: 1800-11-44-88

ANNEXTURES

Services of broking firms (Questionnaire for customers) Supervisor: Mrs. Ritu S Sharma Faculty of ICFAI NATIONAL COLLEGE,
Bikaner (Raj.)

Investigator : Rajesh Prajapat

MBA student ICFAI NATIONAL COLLEGE

Respected Sir, The questionnaire is being supplied to you for measuring the Services provided by the broking firms. Please read the questions and give your responses by the tick-mark on one

of the alternative. Your responses would be kept confidential. They will be used only for the research purpose. ________________________________________________________________________

Name: Occupation: Age: Monthly income: Address:

(1) In which company you invested? (a) India infoline (b) India bulls (c) ICICI direct. (d) Sharekhan (e) Reliance Money (f) Any other (2) What are the account opening charges? (a) 750 (b) 555 (c) Free (d) any other. (3) What are the brokerage rate of intra and delivery? (a) .03 & .30 (b) .03 & .75 (c) .02 & .30 (d) any other. (4) In which type of schemes/products of broking firm, you have invested? (a) Mutual funds (b) saving account (c) d-mat account (d) fixed deposit (e) Life insurance (f) commodities (g) Others (h) trading account (I) None (5) Is broking firm fulfills your expectations? (a) Yes (b) no (6) In which company you want to invest in future? (a) India infoline (b) India bulls (c) ICICI direct.

(7) Is your organization provides Invest anytime facility? (a) Yes (b) no (8) From how many schemes/products you are aware? (a) Fixed deposit (b) bonds (c) Mutual funds (d) nse/bse/ncdex (e) Life insurance policy (f) future and option (g) All of above (h) none (9) If you have invested threw broking firm what are the services provided by company? (a) Online line trading (b) off line trading (c) Funding scheme (d) providing software for online trading (e) Any other services (f) none (10)Are they providing you daily tips, massages, news? (A)REARLY (C)RAGULARY (B) FOR SPECIAL TRADE (D) NO

(11).What options do you prefer for trading? (A)OVER THE PHONE (C)ON LINE TRADING (B) AT OUR BRANCH

(12).What is the factor that you are trading with Broker? (A)SERVICE (C)BROCKRAGE (13).Are you satisfied that they are providing you best credit limit? (A)YES (B) NO (B) GOOD BEHAVIOUR

(14).Are you getting all this as right time? Contact notes/Statements/Tale calling/Massages tips? (A)FOR SPECIAL TRADE (C)NO (15).Which thing of Broker firm do you like most? (A)CUTTING ADGE TECHONOLOGY (B) ACCLAIMED RESEARCH (C)DEDECATED RELATIONSHIP MANAGER (B) YES

(16).Are you satisfied our tt5 and tt5 advance and Odin software? (A)YES (B)NO

(17).Which factor influences you to work with your Broker? (A)PREMIUM BROCKRAGE (B) NO FIXED CHARGE

(18).Are you satisfied with services provided by firm or not? (a) Very satisfied (b) satisfied (c) Not satisfied (d) cant say.