AJAY Reliance Money 30

Project Report
On
Demat Opening Schemes of Reliance
Money with other competitors,
Mutual Fund, Financial and Technical
analysis.
Submitted in requirement of partial

fulfillment of
MASTER OF BUSSINESS
ADMINISTRATION
2007-09
Under The Guidance Of :

Mr. MANISH SHUKLA
Center Manager,
Reliance Money,
MEERUT
Submitted to: Submitted By:
Ms. Jasika Shukla Pramod Kumar
Faculty, Finance MBA
PUNJAB TECHNICAL UNIVERSITY,
JALANDHAR
ACKNOWLEDGMENTS
It was a great opportunity for me to work with Reliance money, pioneers

in the field of online trading. I am extremely grateful to those who have
shared their expertise and knowledge with me and without whom the
completion of this project would have been virtually impossible.
Firstly, I would like to thank my project guide Mr. Manish Shukla

Center Manager, Reliance Money Ltd., who has been a constant
source of inspiration for me during the completion of this project. He gave
me invaluable inputs during my endeavor to complete this project.
I am indebted to all staff members of Reliance Money Ltd. for their

valuable support and co-operation during the entire tenure of this project.
Not to forget, all those who have kept our spirits surging and helped me
in delivering my best.
(Pramod Kumar)
INDEX
1. Introduction
2. Executive Summary
3. Project Objective
4. Methodology
5. Company Profile
6. Corporate Structure
7. Reliance money Services
8. Services Provided
9. Mutual Fund
10. Indian Stock Market Overview
11. About NSE
12. About BSE
13. Indian Scenario
14. Products and Required Documents
15. Competitive Analysis
16. Analysis of Questionnaire
17. Findings
18. Suggestions
19. Learnings
20. Limitations
21. Conclusion
22. Bibliography
23. Annexure
INTRODUCTION
In today’s scenario Online Share Trading in Stock market is gaining

popularity. Till now most of the customers were working with offline but in
metro cities Online Share Trading is preferred because no one has much
time to go to market and work with offline.
So, online share trading come in picture. In Online Share Trading

investors invest their money in stock market through the internet. They
do not want to go to a broker. Today companies provided all information
on a company website or make their own software. Investors buy or sell
their securities in a few seconds by clicking a mouse.
Online Share Trading is beneficiary for customer as well as company

because in online customers have not take much pain for investing money
in a market. All process is done automatically in a few seconds.
Companies provided research reports, monthly magazine etc through
Internet. Investors get this information online. These reports help
investors for investment in securities. Online Share Trading is very less
time consuming and expensive. So Online share Trading is much better
than offline share trading. Online Share Trading is safer and faster
alternative to the offline Share Trading as it offer freedom from delays,
thefts and paperwork. So Online Share Trading is quick, convenient and
efficient.
About Reliance Money:

Reliance Money is India's leading retail financial services company. They
have over 300 share shops across 175 cities in India. While their size and
strong balance sheet allow them to provide customers with varied
products and services at very attractive prices, their over 750 Client
Relationship Managers are dedicated to serving customers unique needs.
Reliance Money is lead by a highly regarded management team that has

invested crores of rupees into a world class Infrastructure that provides
clients with real-time service & 24/7 access to all information and
products. Their flagship Reliance Money offers real-time prices, detailed
data and news, intelligent analytics, and electronic trading capabilities,
right at your finger-tips. This powerful technology complemented by their
knowledgeable and customer focused Relationship Managers is creating a
world of Smart Investor.
Reliance Money offers a full range of financial services and products

ranging from Equities to Derivatives enhance your wealth and hence,
achieve your financial goals.
Reliance Money' Client Relationship Managers are available to the

customers to help with their financial planning and investment needs. To
provide the highest possible quality of service,Reliance Money provides
full access to all our products and services through multi-channels.
Services provided by the RELIANCE MONEY :--
1. Equities & Derivatives :--Comprehensive services for

independent investors,
active traders & Non-Resident Indians.
2. Reliance Money equity analysis :--Premium research on

401+ companies updated daily.
3. Depository Services :--Value added services for

seamless delivery.
EXECUTIVE SUMMARY
I am Kapil Kumar from the batch of 2007-09, Dev Bhoomi Institute of

Technology, Dehradun. I did my Summer Training with Reliance Money
(www.reliancemoney.com) from 24th of May 2008 to 19th of July 2008.
I was assigned the task of Competitive Analysis, Promotion and Future of
Online Trading & Mutual fund.
.
This research is based on the comparative analysis of Reliance Money
with other broking houses and study of Future of Online Share Trading in
India. It’s totally based on realistic approach towards the online share-
trading senario in India.
In the first phase I covered some other stock broking companies as

compared to Reliance Money. I examined thoroughly areas such as
number of players, technology they are offering their customer base their
products and offerings and how they market their products etc.
In between to acquire new customers for Reliance Money was also an

integral part of the job. In this process I spoke to different potential
customers about the organization and its products in order to increase the
popularity of Reliance Money.
I took places in Gurgaon & Delhi as a sample. I did follow market

research procedure to get an idea about the future of Online Share
Trading. For this I divided the whole Delhi into a five zones (East ,West,
South ,North ,Central).
PROJECT OBJECTIVE
I was assigned with the task of comparing different online broking

companies and predicting the future of online share trading in India as a
part of the summer training curriculum. The entire project was divided
into six parts:
a) Gathering data about the leading online broking houses and

compare the main points and find the strengths of Reliance Money
compared to them.
b) Conducting Market Research in various parts of the city in order to

get statistical data for commenting on the future of online share
trading in India.
c) Customer Acquisition through sales of Trading / Demat Accounts in

order to get a deep insight as to how the Organization actually
performs these functions.
.
d) To increase the product awareness of Reliance money as one
window shop for investment solutions.
e) To find the potential market for Reliance Money products and

getting information about pricing strategy of competitors to fight cut
throat competition.
d) To collect the real time information about preference level of

customers using Demat account and their inclination towards
various other brokerage firms e.g. Indiabulls, ICICI direct.com,
Sharekhan , Indiainfoline , Religare , Alankit, Unicon etc.
METHODOLOGY
Methodology for Market Research
I divided the entire city into zones and drew out samples out of each
zone. The size of samples drawn from each zone depended on the
prospective ness of the particular area. For e.g., if a particular research
area consisted of Offices then the sample size would obviously be higher
than an area like Shopping mall or PVR. This is because Office employees
constitute the service sectors who are the active investors of today. Also,
the office areas consist of people from the business class who have
always been in the hunt for quick money, not to forget that smart and
timely investment in the share market can yield to enormous returns.
Methodology for Customer Acquisition
The leads for customer acquisition primarily came from the questionnaires
filled up by prospective customers. Apart from these customers were also
pitched through personal references and contacts. Moreover the
organization takes every possible effort in order to spread mass
awareness. As a result of this publicity campaign, influenced prospective
customers approach the organization. There are various ways to make
people aware about the organization as such Marketing Research,
Canopy, Personal References, Pop-up windows having collaboration with
various portals e.g. Rediffmail.com etc. Person with adequate interest
leaves his contact information. Later on these leads are contacted
personally for further development. The organization has efficient sales
stuff who excel in this job. Part time trainees are also appointed for the
same. This work force been perfectly supervised by the Managers. Thus
all these factors sum up into a result oriented work force. These leads
were the contacted through tele-calling and after developing a
relationship, they were pitched in at the addresses provided by them.
After giving them a presentation about the product and its advantages
over its competitors, they were promised of a Demo by company sales
force in case a sale had resulted. Also references were collected from such
people and the same methodology was repeated. For each and every
customer personal quarries have been entertained after the sale is done.
COMPANY PROFILE
Reliance Money is a group company of Reliance Capital. It is under the

Anil Dhirubhai Ambani Group. Reliance Capital Ltd (RCL ), formerly known
as Reliance Capital and Finance Trust, was promoted by Reliance
Industries Ltd (RIL) in 1986 at Ahmedabad, in state of Gujarat with a
capital of Rs 70,000/-. The company intended to access the capital
market as part of the resource raising programme, which materialized in
the year 1990 and active operations commenced soon after its maiden
public issue of equity shares aggregating Rs 20 crore in April 1990. In
Jan.'1995, it came out with a rights-cum-public issue at a premium of Rs
130, aggregating Rs 600 crore to strengthen the company's equity base
and meet its long-term working capital requirements. The company was
granted approval by the Securities and Exchange Board of India (SEBI) to
act as an Approved Intermediary under the provisions of SEBI's Securities
Lending Scheme, 1997. During 1998-99, the company disinvested part of
its holding in Reliance Share and Stock Brokers and Reliance Land. These
companies have accordingly ceased to be subsidiary of the company. At
present RCL has four wholly-owned subsidiaries. Reliance Capital Asset
Management is the investment manager of Reliance Capital Mutual Fund,
Reliance Capital Trustee Co, is the trustee company of the Reliance
Capital Mutual Fund, Reliance Net Private Ltd and Observer Network
Private Ltd. The company has shifting its focus from a traditional NBFC to
a special purpose vehicle and venture capital outfit developing
infrastructure projects and investing in infotech, media, Internet and
biotech startups, will help it boost its performance in the coming years.
The company's fee-based activities include a packaged deal offer to the
corporates besides like issue management, underwriting, corporate
advisory, corporate valuation, restructuring of operations, privatization,
divestment, mergers and acquisitions. RCL has also obtained approval
from the Reserve Bank of India (RBI) and Insurance Regulatory and
Development Authority (IRDA) for financial participation in the insurance
sector. It has firmed up plans to enter both life and general insurance
categories, and accordingly has floated the two companies Reliance
General Insurance Company and Reliance Life Insurance Company.
MANAGEMENT TEAM
Reliance capital Director panel list
Name Designation
Anil D Ambani Chairman

Amitabh Jhunjhunwala Vice Chairman
Rajendra P Chitale Director
V R Mohan Company Secretary
C P Jain Director
Reliance capital has following groups of companies
Reliance capital entered into online trading business through “Reliance

Money”. Reliance Money is offering highly competitive brokerage fees with
the option for “fixed flat fee structure”.Reliance Money, promoted by Anil
Dhirubhai Ambani Group firm Reliance Capital, is offering the brokerage
services across 700 cities including Delhi and Mumbai through
3,000outlets.
Reliance Money consumers can trade in equities, commodities and
offshore investments, IPO’s, mutual funds, insurance and money transfer.
Reliance money is offering 3 types of accounts to its customers. Account
for beginners, for middlers and for experts.
Reliance Money offers a single window facility, enabling people to access,
amongst others, equity, equity and commodity derivatives, offshore
investments, IPO’s, mutual funds, life insurance products.
The new wonder is Reliance Money's pre-paid card for stock market
brokerage. Reliance Money, the financial servi RelianceMoney.com is
offering most dynamic web based trading environment to its customers.
The new trading platform has many new features which basically fill up
the gap between old online trading companies in India and their
customers.
The Reliance Money trading websites comes with special security features
'Security Token', which makes you online trading experience more secure
without complexity.
Stock Trading is available in BSE and NSE. Offline trading is also available
through Reliance Money partners in your city and through phone by
dialing 022-39886000.
RELIANCE MONEY SERVICES
RELIANCE
MONEY
Why You must choose Reliance Money?
Single window for multiple products: Reliance money through its

affiliates partners, facilitates transactions in Equity, Equity & Commodity
Derivatives, Offshore investments , Mutual Funds , IPO’s.
PRODUCTS
OFEERED
BY Reliance
Money
POSTAL
MUTUAL SAVINGS &
SHARES DERIVATIVES
FUNDS IPOs BONDS
INSURANCE COMMODITIES
DELIVERY DAY
GENERAL LIFE
TRDING TRADING
MARGIN
ATST
PLUS
SPOT
Reliance Money is the most cost effective, convenient, and secure way to
transact in a wide range of financial products and services. The highlights
of Reliance Money offerings are:
Cost Effective: The fee charged by the affiliates of Reliance Money ,
through whom the transactions can be placed is among the lowest
charged in the present scenario.
Convenience: You have the flexibility to access Reliance Money

services in multiple ways; through the Internet, Transaction Kiosks ,
Call and Transact (Phone) or seek assistance through business
partners.
Security: Reliance money provides secure access through an electronic
token that flashes a unique a security number of Six digits after every 32
seconds (and ensures that the number used for earlier transaction is
discarded). This number works as a third level password that keeps your
account extra safe.
3 in 1 integrated access : Reliance Money offers integrated access to

your Banking , Trading and Demat Account.
SERVICES PROVIDED BY THE RELIANCE MONEY
1. Equities and Derivatives

Our Retail Equity Business caters to the needs of individual Indian and
Non-Resident Indian (NRI) investors. Reliance money offers broker
assisted trade execution, automated online investing and access to all
IPO's.
Through various types of brokerage accounts, Reliance money offers the
purchase and sale of securities which includes Equity, Derivatives and
Commodities Instruments listed on National Stock Exchange of India Ltd
(NSEIL), The Stock Exchange, Mumbai (BSE) and NCDEX.
• Reliance Easy Trade - Comprehensive services including research

and investing guidance for independent investors.
• Reliance Insta trade - Reliance is dedicated to empower Active
Traders through personal service and advanced trading technology.
2. Reliance equity analysis

Building and maintaining your ideal portfolio demands objective,
dependable information. Reliance Equity Analysis helps satisfy that need
by rating stocks based on carefully selected, fact-based measures. And
because we're not focused on investment banking, we don't have the
same conflicts of interest as traditional brokerage firms. This objectivity is
only one important difference in our ratings
3. Depository Services
Reliance is a depository participant with the Central Depository Services

(India) Limited for trading and settlement of dematerialised shares.
Reliance Money performs clearing services for all securities transactions
through its accounts. Its Services is part of our value added services for
our clients that create multiple interfaces with the client and provide for a
solution that takes care of all your needs.
.
Reliance Money is dealing in all mutual funds explained in the diagram

given below.
INTRODUCTION TO MUTUAL FUNDS
EMERGENCE OF MUTUAL FUNDS:
Mutual funds now represent perhaps the most appropriate investment

opportunity for most investors. As financial market becomes more
sophisticated & complex investors need a financial intermediary who
provide the required knowledge and professional’s expertise on successful
investment .The Indian mutual fund industry has already stared opening
many of the exciting investment opportunities to Indian investors. Despite
the expected continuing growth in the industry, mutual funds are still
anew financial intermidartry in India.
MUTUAL FUND CONCEPT
A Mutual Fund is a trust that pools the savings of a number of investors

who share a common financial goal. The money thus collected is then
invested in capital market instruments such as equities, debentures and
other securities. The income earned through these investments and the
capital appreciation realized (after deducting the expenses and profits of
mutual fund managers) is shared by its unit holders in proportion to the
number of units owned by them. Thus a Mutual Fund strives to meet the
investment needs of the common man by offering him or her an
opportunity to invest in a diversified, professionally managed basket of
securities at a relatively low cost. An open-ended fund operated by an
investment company which raises money from shareholders and invests
in a group of assets, in accordance with a stated set of objectives. Mutual
funds raise money by selling shares of the fund to the public, much like
any other type of company can sell stock in itself to the public. Mutual
funds then take the money they receive from the sale of their shares
(along with any money made from previous investments) and use it to
purchase various investment vehicles, such as stocks, bonds and money
market instruments. In return for the money they give to the fund when
purchasing shares, shareholders receive an equity position in the fund
and, in effect, in each of its underlying securities. For most mutual funds,
shareholders are free to sell their shares at any time, although the price
of a share in a mutual fund will fluctuate daily, depending upon the
performance of the securities held by the fund. Benefits of mutual funds
include diversification and professional money management. Mutual funds
offer choice, liquidity, and convenience, but charge fees and often require
a minimum investment. A closed-end fund is often incorrectly referred to
as a mutual fund, but is actually an investment trust. There are many
types of mutual funds, including aggressive growth fund,
asset allocation fund, balanced fund, blend fund, bond fund,
capital appreciation fund, clone fund, closed fund, crossover fund,
equity fund, fund of funds, global fund, growth fund,
growth and income fund, hedge fund, income fund, index fund,
international fund, money market fund, municipal bond fund,
prime rate fund, regional fund, sector fund,
Before I dive into the definition of a mutual fund, it is important

that you have a basic understanding of stocks and bonds
Stocks
Stocks represent shares of ownership in a public company. Examples of

public companies include IBM, Microsoft, Ford, Coca-Cola, and General
Mills. Stocks are the most common ownership investment traded on the
market.
Bonds
Bonds are basically a chance for you to lend your money to the
government or a company. You can receive interest and your principle
back over predetermined amounts of time. Bonds are the most common
lending investment traded on the market.
There are many other types of investments other than stocks and
bonds (including annuities, real estate, and precious
metals), but the majority of mutual funds invest in stocks
and/or bonds.
DEFINITION OF MUTUAL FUND
A mutual fund is simply a financial intermediary that allows a group of

investors to pool their money together with a predetermined investment
objective. The mutual fund will have a fund manager who is responsible
for investing the pooled money into specific securities (usually stocks or
bonds). When you invest in a mutual fund, you are buying shares (or
portions) of the mutual fund and become a shareholder of the fund.
Mutual funds are one of the best investments ever created because they
are very cost efficient and very easy to invest in (you don't have to figure
out which stocks or bonds to buy).
The flow chart below describes broadly the working of a mutual
fund:
GROWTH AND INCOME SCHEMES
Mutual fund products or schemes are broadly categorized into Growth

(also called Equity) and Income schemes. Growth schemes invest
predominantly in equity securities and Income schemes invest
predominantly in fixed income securities such as debentures, money
market instruments and government securities. Equities are a riskier class
of assets, as they are susceptible for severe volatility in prices and hence
growth schemes are recommended only for those investors who are
interested in capital appreciation over the long term (five years and
beyond). For risk-averse investors who are interested in investing in fixed
income instruments or those with a shorter time horizon for investment
(less than five years), income schemes are considered suitable.
Table 1: shows scheme-wise break-up of assets managed by mutual
funds in India. The Indian mutual fund investor has so far displayed a
clear inclination to be risk averse with over 80 per cent of the funds
invested in Income, Money Market and Gilt schemes and only about 20
per cent in Growth and Balanced (a mix of Growth and Income) schemes
ADVANTAGES OF MUTUAL FUNDS
• Portfolio Diversification:
Mutual Funds normally, invest in a well-diversified portfolio or

securities. MF enables investors to hold a diversified investment
portfolio even with a small amount of investment.
• Reduction of Risk:
Investors in a mutual fund acquire a diversified portfolio, no matter

how small his investment. Diversification reduces the risk of loss, as
compared to investing directly in one or two shares, debentures, or
others instruments. When investors invest directly, all the risk of
potential loss is his own. A fund investor also reduces his risk in an
other way.
• Reduction transaction cost:
What is true of risk is also true of the transaction cost a direct

investors bears all the cost of investing such as brokerage or custody
of securities when going through a fund he has the benefit of
economies of scale the funs pay lesser cost because of larger
volumes, a benefit past on to its investors.
• Liquidity:
Often Investors hold shares or bonds they can not directly easily and
quickly sell. Investment in a mutual fund on the other hand is more
liquid an investors can liquidate the investment by selling the unit to
the fund if open – end or selling them in the market if the fund is
close- end and the collect the funds at the end of a period specified
the mutual fund or the stock market .
• Convince & Flexibility :
Mutual Fund management companies offered many investors services

that a direct market investor can not get. Investors can easily
transfer their holdings from one scheme to the other and can get up
date market information.
DISADVANTAGE OF INVESTING THROUGH MUTUAL
FUNDS
• No Control Over Cost:
An investor in a mutual fund has no control over the overall cost of

investing. His investment management fees as long as he remains
with the funds, albeit in returns for the professional management and
research. A mutual fund investor also pays distribution cost which
he would not incur in the direct investing . However this shortcoming
only means that there is a cost obtains the benefits of mutual
services.
• No tailor made portfolio:
Investors who invest their own can build their own portfolios of
shares, bonds and other securities. Investing through funds means
he delegates this decision to the fund manager. The very high net
worth individuals or large corporate investors may find this to be a
constraint in achieving their objectives however most mutual funds
help investors to overcome this constraint by offering miles of
schemes- a large number of different schemes with in the same fund
an investor can choose from different investment plans and construct
a portfolio of his choice.
• Managing a Portfolio of funds:
Availability of large number of funds can actually mean too much

choice for the investors. He may again need advice on how to select a
fund to achieve his objective quite similar to the situation when he
has to select individual shares or bonds to invest in.
TAX BENEFITS
• Tax benefits to mutual fund:
Mutual fund in India has a special feature as to income tax provision.

Under section 10(23D) of income tax Act1961, a mutual fund has been
conferred total tax exemption from income tax on all its income provided
it is recognized fund. Recognized fund implies that the fund should be
registered under SEBI (mutual fund) Regulation, 1993. Thus income
accrued to assets Management Company by way of dividend or by way of
capital gain is totally exempt. This meant to provide a much higher yield
to the mutual fund to enable them to distribute a higher return to the
investors.
According to union budget 2002-03, mutual funds are also relived of the
tax liability as the incidence of tax is shifted on the unit holders of UTI
and other mutual funds and sub clause (ii) & (iii) of clause 33 section (10)
are omitted. Income from investment is otherwise taxable but under
income tax act, mutual funds are treated as pass through entities since
they invest fund of public and earns income on their behalf. It implies that
whether the income is in form of dividends, interest, underwriting,
commission or capital appreciation, the income of mutual fund in not
taxable.
• Tax benefits to investor
The income-received but the investor of mutual fund is taxable in their

hands as dividends unless these are capital redemption. One of the
reason for mutual funds schemes being quoted at discount to NAV was
the differential in tax treatment to equity shares and mutual funds units,
which made investments in mutual fund units less attractive than the
equity.
How to invest in mutual fund
Step one: Identify your investment needs
Your financial goals will very, based on your age, lifestyle, facial
independence, family commitments, ad level of income and expenses
among other many factors. Therefore, the first step is to assess your
needs. Begins by asking you these question:
• What are my investment objective and needs?
Probable answer: I need regular income or need to buy a home or

finance a wedding or educate my children or a combination of all
these needs.
• How much risk am I willing to take?
Probable answer: I can take a minimum amount of risk or I am

willing to accept the fact that my investment value may fluctuate or
that may be for short-term loss in order to achieve a long –term
potential gain.
• What are my cash flow requirements?
Probable answer: I need a regular cash flow or I need a lump sum

amount to meet a specific need after a certain period or I don’t
require a current cash but I want to build my assets for the future.
Going through this exercise, you will know what you want out of your
investment and can set the foundation for a sound mutual fund
investment.
Step two: Choose the right mutual fund

Once you have a clear strategy in mind you own have to choose which
Mutual Fund scheme you want to invest in. the offer document of the
scheme tells you its objectives and provides supplementary details like
the track records of other schemes managed by the same Mutual Fund
manager. Some factors to evaluate before choosing a particular Mutual
Fund.
• The track records or performance over the last few years &
relation to the appropriate yardstick and similar funds in the same
category.
• How well the mutual fund is organized to provide efficient, prompt
and personalized service.
• Degree of transparency as reflected in fraudulence and quality of
their communication.
Step three: Select the ideal mix of schemes
Investing in just mutual fund scheme may to meet all your investment
needs. You may consider investing in a combination of schemes to
achieve specific goals.
Step four: Invest regularly
For most of us, the approach that works best is to invest a fixed amount
at specific intervals, say every month. By investing a fixed sum each
month, you buy fewer units when the price is higher and more units when
the price is low, thus bringing down your average cost per unit. This is
called free cost averaging and is a disciplined investment strategy
followed by investor all over the world. With many open- ended schemes
offering systematic investment plans, this regular investing habit is made
easy for you.
Step five: Keep your taxes in mind
As per the current tax laws, dividend / income distribution made by

mutual fund is exempt from income tax in the hands of investor. Further,
there are other benefits available for investment in mutual fund under the
provision of the prevailing tax laws. You may therefore consult your tax
advisor or chartered accountant for specific advice to achieve maximum
tax efficiency by investing in mutual fund.
Step six: Start early
It is desirable to start investing early and stick to a regular investment

plan. If you start now, you will make more than if you wait and invest
later. The power of compounding lets you year income and your money
multiplies on monthly basis
Step seven: The final step
All you need to do now is to get in touch with mutual fund or your agent /
broker and start investing. Reap the rewards in the years to come. Mutual
fund is suitable for every kind of investor- whether taking an investor or
retiring, conservative or risk taking growth oriented or income earning.
MUTUAL FUNDS CLASSIFICATION
There are many types of mutual funds available to the investor however
theses different types funs can be grouped into certain classification for
better understanding .from investors perspective there basic
classifications & that are as follows:
• OPEN-END VS CLOSE END FUNDS

• LOAD AND NO LOAD FUNDS
• TAX EXEMPT VS NON TAX EXEMPT FUNDS
OPEN END VS CLOSE END FUND:
An OPEN END FUND is one that has unit available for sale and purchase at
all times an investor can buy or redeem units from the fund itself at a
price based on the net assest value (NAV) per unit. NAV per unit is
obtained by dividing the amount of market value of the funds assest by
number of unit outstanding the number of unit outstanding goes up or
down every time the fund issue new units or repurchase existing units. in
other words the unit capital of an open – end mutual fund is not fixed but
variable .note that an open – end fund is not obliged to keep selling /
issuing new units at all times, and, many successful funds stop issuing
further subscriptions from new investors after they reach ascertain size
and think they can not manage a larger fund without adversely affecting
profitability.
Unlike an open – end funds the unit cap[ital of a close – end fixed ,as it
makes a one time sale of affixed number of unit later on unlike open –
end funs , close end funds do not allow investors to buy or redeem units
directly from the funds .however to provide the much needed liquidity to
investors many close – end funds get themselves listed on a stock
exchange . trending through stock exchange enable investors to buy or
sell units of a close end mutual fund from each other , through a stock
broker in the same fashion as buying or selling shares of a company.
• LOAD AND NON LOAD FUNDS:
Marketing of mutual funds schemes involves initial expense. These

expenses may be recovered from the investor’s n different ways at
different times. Three usual ways in which funds sales expenses may be
recovered from the investors are. At the time of investors entry in to the
fund/scheme, by deducting a specific amount from his initial contribution
or By changing the funds/scheme with a fixed amount each year, during
the stated number of years, or .At the time of investor exit from the
fund/scheme, by deducting a specified amount from the redemption
proceeds payable to investor
These charges made by the fund manager t the investor to cover

distributing/sales/marketing expenses are often called “load”. In
India”SEBI has defined a load as the one time fee by the investor
to allow the fund to meet initial issue expenses including
brokers/agent/distributers/commisson, advertising and
marketing expenses. The load charged to the investor at the time of his
entry is called “front-end and entry load” the load amount charged to the
scheme over a period of time is called a “deferred load”. The load that the
investor pay at the of exit is called a “back-end or exit load”. Funds that
charge front end, back-end or deferred load are load funds. Funds that
make no such charges or load for sale expenses are called non load
fund.
TAX-EXEMPT 0R NON- TAX EXEMPT-
Generally, when a fund invests in tax-exempt securities, it is called a tax-

exempt fund. In India, after the 1999 union government budget, all of the
dividend income received from any of the mutual funds is tax free in the
hands of the investor. However, funds other than equity funds have to
pay a distribution tax, before distributing income to investor. In other
words, equity mutual fund scheme are tax-exempt investment avenues,
while other funds are taxable distributable income. While Indian mutual
funds currently offer tax-free income, any capital gains arising out of sale
of funds units are taxable. Hence, classification of mutual funds from tax
ability prospective has great significance for investors.
SCHEMES OF RELIANCE MUTUAL FUND
There are various schemes provided by RELIANCE Mutual Fund

but as far my study is concerned that are undertaken foe further
study is as follows:
• RELIANCE GROWTH PLAN
• RELIANCE LIQUID PLAN
• RELIANCE VISION PLAN
• RELIANCE TAX SAVER PLAN
• RELIANCE POWER PLAN
• RELIANCE SIP PLAN
RELIANCE GROWTH PLAN
INVESTMENT PATTERN:
TYPE APPOX.
ALLOCATION
Equity and equity related securities Upto 65%
Debt, money market securities and cash Upto35%

CHANGE IN INVESTMENT PATTERN
Subject to the regulations, the assets allocation pattern indicated

above may change from time to time, keeping in view market
conditions, market opportunities, applicable regulation and
political and economic factors. It must be clearly understood that
the percentage stated above are only indicative and not absolute
and that they can vary substantially depending upon the
perception of the investment manager , the intition being at all
times to seek to protect the interest of the unit holders. Such
changes in the investment pattern will be for shot term.
INVESTMENT STRATEGY:
Approach to stock picking will be the dominant theme in stock selection

for the Scheme. The AMC in selecting scrip will focus on the fundamentals
of the business, the industry structure, the quality of management,
sensitivity to economic factors, the financial strength of the company and
the key earnings drivers.
Risk will be reduced through adequate diversification of the portfolio. For

a corpus size of upto Rs.100 crores, the AMC intends to invest in about
20-30 scrip’s. Diversification will also be achieved by spreading the
investments over a diverse range of industries/sectors. The Scheme,
under most market conditions does not intend investing in illiquid equity
and equity related securities. The Scheme may however, invest in
unlisted and/or privately placed and/or unrated debt securities subject to
the limits indicated above, from issuers of repute and sound financial
standing. If investment is made in unrated debt securities, the approval of
the Board of the AMC shall be obtained, as per the Regulations. Subject to
the limits indicated above for investment in debt securities and money
market instruments, the Fund may invest a part of the portfolio in
securities issued and/or guaranteed by State and Central Governments.
The Fund may also invest in Securities of issuers supported by
Government of India or State Governments subject to such securities
satisfying the criteria relating to rating etc.
Portfolio Turnover:
The portfolio turnover shall generally not exceed 75% per year, once the
entire corpus is invested.
. Growth Option
The Scheme will not declare any dividends under this option. The income
earned by the Scheme will remain reinvested in the Scheme and will be
reflected in the Net Asset Value.
Dividend Option
The Trustee may approve the distribution of dividend by AMC either half
yearly or yearly out of the net surplus under this Option. The remaining
net surplus after considering the dividend and tax, if any, payable there
on will be ploughed back in the Scheme and be reflected in the NAV.
As per the Finance Act 1999, any income received from a mutual fund
specified under clause (23D) of section 10 of Income Tax Act, 1961
is exempt from tax. This amendment will apply in relation to the
Assessment Year 2000-2001 and the subsequent years. The income
distributed by the Fund after April 1,1999 will, accordingly, is exempt
from income tax in the hands of the recipient under the above provisions.
FUNDAMENTAL ATTRIBUTES OF GROWTH PLAN
• Type : The growth plan is the open – end equity plan

• Investment Pattern: Equity and equity related instruments upto
65 % & debt money market and cash upto 35%.
• Fund objective: To seek to generate long – term capital
appreciation from a portfolio that is invested predominantly in
equity and equity related securities.
• Investment horizon: Suitable for the investors who seek to invest
in equity securities.
• Net assets value: Calculated & declared on every business day.
• Systematic Investment Plan: monthly minimum rupees Rs. 1000
plus 4 post dated cheques for a minimum of Rs. 500 each.
• Switch Facility: switch facility is avaible in this plan.
• Nomination facility: nomination facility is also available in this
plan.
TERMS OF THE SCHEME
• Application amount: Minimum Rs.5, 000, additional investments
in multiples of Rs. 500. Under monthly SIP the minimum investment
is Rs.3,000 and Rs.500 per month for a block of 6 months. Under
Quarterly SIP the minimum investment is Rs.3,000 and Rs.1,500
per quarter for at least 2 quarters.
• Entry load: Entry load of 1.50%

• Repurchase / Redemption: units will be offered for sale and
redemption can be done on every business day. Redemption
request can be made for any amount for Rs. 500 or more.
• Redemption price : At NAV based price.
• Dispatch of Redemption proceeds: Under normal circumstances
with in three business days of acceptance of redemption request..
• Recurring fees & expenses:
Investment management 1.25%
expenses
Other recurring expenses 1.25%
Total 2.50%
• TERMS OF THE SCHEMES
Application amount: Minimum Rs.5,000 per application and a minimum

additional amount in Multiples of Rs 500 thereafter. .
• Load structure: Entry Load: Nil
Exit Load: Nil
Further, the Trustee reserves the right to modify/alter the load

structure under the Plan and may decide to charge an entry
load/exit load or a combination of entry/exit loads or introduce a
differential load structure on the Units subscribed/redeemed,
subject to a maximum as prescribed under the Regulations.
• Redemption price: . At applicable NAV subject to exit
load, if any, computed as follows: Redemption / Repurchase Price
• Recurring expenses
Investment management expenses 1.00%
Other recurring expenses .50%

Total 1.50%
FUNDAMENTAL ATTRIBUTES OF RELIANCE VISION FUND
• Type: open-ended fund.

• Investment pattern: equity & equity related instruments in
companies upto 75% in & debt , money market and cash upto
25% .
• Fund objective: To seek to generate long term capital appreciation
from a portfolio that is invested predominantly in equity and equity
related securities of companies.
• Investment horizon: sect oral f und , suitable for investors
seeking an exposure to the various sector.
• Net assets value; calculated and declared on every business day.
• Systematic Investment Plan : monthly minimum rupees Rs.
1000 plus 4post dated cheques for a minimum of Rs. 500 each.
Quarterly minimum Rs 1000 plus 4 post-dated cheque for a
minimum of Rs 1000 each.
• Switch Facility: switch facility is available in this plan.
• Nomination Facility: nomination facility is also available in
this plan.
TERMS OF THE SCHEMES
• Application amount: Minimum Rs.5,000 per application and a minimum

additional amount in Multiples of Re1.
• Load structure: Entry Load: (i) For investment of less than Rs. 3
crore :2.00%of applicable NAV
(ii) For the investment of Rs. 3 crore and above : nil Exit
Load: Nil
• Redemption Plan : . At applicable NAV subject to exit load, if any,
computed as follows: Redemption / Repurchase Price
• Recurring expenses :
Investment management expenses 1.25%
Other recurring expenses 1.25%

Total 2.50%
Structure of Indian Mutual Fund industry(As on April

30,2007)
Number of funds 33
Public sector fund 09
Private sector funds 24

Type of schemes
Close- ended 47
Open ended 329
Assured return 06
Total 382
Aim wise classification of schemes
Income 117
Growth 120
Balanced 35
Liquid/ money market 32
Gilt 31
ELSS 47
Total 382
The investor has various alternatives avenue of investment for the saving
the major avenues for the investment among corporate securities are
Equity shares, preference shares & debentures. As an investors want to
Make such type of portfolio in which they can get higher return with
minimum risk. Now a day’s Indian mutual fund industry has already
started opening up many of exciting investment opportunities to Indian
Investors. During past years there is a major change in Indian mutual
Market. Many new players have launched their new schemes in the
market. But this study is confined with schemes of mutual fund provided
by Reliance Mutual Fund.
INDIAN STOCK MARKET OVERVIEW
The Bombay stock exchanges (BSE) and the National

Stock Exchange of India Ltd (NSE) are the two
primary exchange in India. In addition, there are 28
Regional Stock Exchanges However, the BSE and
NSE have established themselves as the two leading
exchanges and account for about 80% of the equity
volume traded in India.
The average daily turnover at the exchanges has increased from Rs. 851
crore in 1997-98 to Rs. 1,284 crore in 1998-99 and further to Re. 2273
crore in 1999-2000 (April- August 1999). NSE has around 1500 shares
listed with a total market capitalization of around Rs. 921500 crore (Rs.
9215 Bln). The BSE has over 6000 stocks listed and has a market
capitalization of around Rs. 968000 crore (9680 Bln). Most key stocks are
traded on both the exchanges and hence the investor could buy them on
either exchange. Both exchanges have a different settlement cycle, which
allows investors to shift their positions on the bourse. The primary index
of BSE is BSE Sensex comprising 30 stocks. NSE has the S&P NSE 50
index (Nifty) which consists of fifty stocks.
The BSE Sensex is the older and more widely followed index. Both
these indices are calculated on the basis of market capitalization and
contain the heavily traded shares from key sectors. The markets are
closed on Saturdays and Sundays. Both the exchanges have switched
over from the open outcry trading system to a fully automated
computerized mode of trading known as BOLT (BSE On Line Trading) and
NEAT (National Exchange Automated Trading) System. It facilitates more
efficient processing, automatic order matching, faster execution of trades
and transparency.
The Scripts traded on the BSE have been classified into ‘A’, ‘B1’, ‘B2’, ‘C’,
‘F’ and ‘Z’ groups. The ‘A’ group shares represent those, which are in the
carry forward system (Badla). The ‘F’ group represents the debt market
(fixed income securities) segment. The ‘Z’ group scripts are the
blacklisted companies. The ‘C’ group covers the odd lot secutities in ‘A’,
‘B1’& ‘B2’ groups and Rights renunciations. The key regulator governing
Stock Exchanges, Brokers, Depositories, Depository participants, Mutual
Funds, FIIs and other participants in Indian secondary and primary
market is the Securities and Exchange Board of India (SEBI) Ltd.
ABOUT NSE
The National Stock Exchange of India Limited has genesis in the report of the High
Powered Study Group on Establishment of New Stock Exchanges, which recommended
promotion of a National Stock Exchange by financial institutions (FIs) to provide access
to investors from all across the country on an equal footing. Based on the
recommendations, NSE was promoted by leading Financial Institutions at the behest of
the Government of India and was incorporated in November 1992 as a tax-paying
company unlike other stock exchanges in the country.
On its recognition as a stock exchange under the Securities Contracts (Regulation) Act,
1956 in April 1993, NSE commenced operations in the Wholesale Debt Market (WDM)
segment in June 1994. The Capital Market (Equities) segment commenced operations in
November 1994 and operations in Derivatives segment commenced in June 2000.
NSE Group
NSCCL
IISL NSE.IT
NSDL DotEx Intl. Ltd.

ABOUT BSE
The Stock Exchange, Mumbai, popularly known as "BSE" was established
in 1875 as "The Native Share and Stock Brokers Association". It is
the oldest one in Asia, even older than the Tokyo Stock Exchange, which
was established in 1878. It is a voluntary non-profit making Association of
Persons (AOP) and is currently engaged in the process of converting itself
into demutualised and corporate entity. It has evolved over the years into
its present status as the premier Stock Exchange in the country. It is the
first Stock Exchange in the Country to have obtained permanent
recognition in 1956 from the Govt. of India under the Securities Contracts
(Regulation) Act, 1956.
The Exchange, while providing an efficient and transparent market for

trading in securities, debt and derivatives upholds the interests of the
investors and ensures redressal of their grievances whether against the
companies or its own member-brokers. It also strives to educate and
enlighten the investors by conducting investor education programs and
making available to them necessary informative inputs.
A Governing Board having 20 directors is the apex body, which decides

the policies and regulates the affairs of the Exchange. The Governing
Board consists of 9 elected directors, who are from the broking
community (one third of them retire ever year by rotation), three SEBI
nominees, six public representatives and an Executive Director & Chief
Executive Officer and a Chief Operating Officer.
The Executive Director as the Chief Executive Officer is responsible for the
day-to-day administration of the Exchange and he is assisted by the Chief
Operating Officer and other Heads of Departments.
The Exchange has inserted new Rule No.126 A in its Rules, Bye-laws &
Regulations pertaining to constitution of the Executive Committee of the
Exchange. Accordingly, an Executive Committee, consisting of three
elected directors, three SEBI nominees or public representatives,
Executive Director & CEO and Chief Operating Officer has been
constituted. The Committee considers judicial & quasi matters in which
the Governing Board has powers as an Appellate Authority, matters
regarding annulment of transactions, admission, continuance and
suspension of member-brokers, declaration of a member-broker as
defaulter, norms, procedures and other matters relating to arbitration,
fees, deposits, margins and other monies payable by the member brokers
to the Exchange, etc.
INDIAN SCENARIO
Strengths
The `do-it-yourself' framework of online share trading offers retail

investors the three benefits of transparency, access and efficiency.
Paperwork diminishes significantly, and no more painful trips to your
broker to check if everything's in order. Online trading has made it
possible to universalize access to retail investors. This was earlier very
difficult, as the cost of servicing often-outweighed transaction volumes.
Online brokerage ranges between 0.05-0.20 per cent of the value of
transactions for non-delivery-based trades, and between 0.25-0.95 per
cent for delivery-based trades. Once major investments in online
infrastructure are over and done with - and with the economies of scale
coming into play - it is expected that brokerage rates would head further
downwards.
Access to online trading and latest financial happenings, apart from

quotes and unbiased investment analyses, all consolidate into a value-
added product mix in tandem with evolving markets that are freer and
fairer. The Net result: An inquisitive, informed and demanding investor.
Today's investor is more involved in managing his or her assets and
analyzing a vast array of investment options. Technology and today's
enabled investor have, in turn, driven competition, resulting in reduced
costs of trading, transparency in dealings, and pricing info that is accurate
and real-time. More and more investors now want to know how their
trades are executed, and whether they have received the best possible
price. Critical components of execution quality include the prices at which
orders were executed as well as the
speed of execution. The quality of execution, in turn, hinges on efficient

order routing. We owe this to our investor fraternity.
Weaknesses
Every thing in the world has a flip side to it - Transaction velocity is

crucial. And more often than not, connections are lousy. There's also a
degree of investor skepticism about online payment and settlement
mechanisms in spite of all the encryption and fire walling brought into
play. Time and technology will soon assuage these concerns, which hark
back to the `physical' days.
“The three main technology obstacles which have prevented Internet

broking from taking off are:
• Lack of Internet penetration

• Bandwidth infrastructure
• Poor quality of ISP infrastructure.”
Opportunities
You have some money to dabble with. Trading shares on BSE/NSE has
always been your dream. When will you ever find the time? And besides,
the hassle of finding a broker is not easy. This is your main opportunity.
Realizing there is untapped market of investors who want to be able to

execute their own trades when it suits them, brokers have taken their
trading rooms to the Internet. Known as online brokers, they allow you to
buy and sell shares via Internet.
There are 2 types of online trading service: discount brokers and full
service online broker. Discount online brokers allow you to trade via
Internet at reduced rates. Some provide quality research, other don’t. Full
service online brokerage is linked to existing brokerages. These brokers
allow their clients to place online orders with the option of talking/
chatting to brokers if advice is needed. Brokerage rates here are higher.
5Paisa.com, ICICIDirect.com, IndiaBulls.com, Sharekhan.com, Geojit
securities.com, HDFCsec.com, Tatatdw.com, Kotakstreet.com are some of
the online broking sites in India.
And daily trading turnover is estimated in the vicinity of 0.75 per cent of
the combined BSE and NSE daily turnover of about RS 11,000 crore!!!
The point is, there's tremendous scope for growth. Especially when you
consider the US, where trading over the Net accounts for about 55 per
cent of the total volumes. And, I believe, in some Asian markets the
figures as high as 70 per cent.
Threats
On to some threat perception - Domestic funds, foreign institutional

investors and operators comprise the three main market constituents.
And all three include term investors as well as opportunists in their
pecking order. Some, for instance, hitch their fate with what the FIIs are
up to. All this spells spurting volumes. But nobody gives a damn about
the resultant volatility. And some, not all, offer free investment advice
over the Net to lure rookie investors with misleading information. Prices of
scripts can also be influenced to the advantage of vested interests,
courtesy the Net. Unlike in the US, stockbrokers out here willingly (or
under the force of circumstance) assume the role of `advisors', sans the
neutral, non-vested stance.
Hurdles for online share trading
1. Internet fraud
In India, we see this kind of frauds happening in different way due to

nature of our society. Here when you talk to broker's staff while buying or
selling, he will usually advise you to buy share which he has bought and
plans to dump when price goes up.
We have seen enough of PUMP and DUMP even without help of internet in
cases of Harshad Mehta boom of 1992 and Ketan Parekh boom of 2000
(he even had cult following with Index of 10 shares called K-10).
Today lot of investor’s depending on TV channel for recommendation

about stocks to sell, or buy or hold. Channels like CNBS offer array of
experts from economist to brokers to analyst. Most of these people have
vested interest in stocks they recommend and promote.
One of the most common forms of securities fraud on the Internet

involves an imposter who attempts to manipulate the price of a stock by
disseminating phony press releases or information, or creating phony
websites. A recent example of this scheme is the hoax perpetrated
against US based, PairGain Technologies.
2. Volatility of India’s Stock Markets
Recent market developments have once more focused attention on the

volatility that has come to characterise India’s stock markets.
Movements in the Sensex during the two years have clearly been driven
by the behaviour of foreign institutional investors (FIIs), who were
responsible for net equity purchases of as much as $6.6 and $8.5 billion
respectively in 2005 and 2006. These figures compare with a peak level of
net purchases of $3.1 billion as far back as 1996 and net investments by
FIIs of just $753 million in 2002. In sum, the sudden FII interest in Indian
markets in the last two years account for the two bouts of medium-term
buoyancy that the Sensex recently displayed.
Given the presence of foreign institutional investors in Sensex companies

and their active trading behaviour, their role in determining share price
movements must be considerable. Indian stock markets are known to be
narrow and shallow in the sense that there are few companies whose
shares are actively traded. Thus, although there are more than 4700
companies listed on the stock exchange, the BSE Sensex incorporates just
30 companies, trading in whose shares is seen as indicative of market
activity. This shallowness would also mean that the effects of FII activity
would be exaggerated by the influence their behaviour has on other retail
investors, who, in herd-like fashion tend to follow the FIIs when making
their investment decisions.
REQUIRED DOCUMENTS
DOCUMENTS:Pan card is must.
Photo ID Proof Residence Proof

• Passport • Passport(valid)
• Pan Card • Voter's ID
• Driving Licence • Driving Licence(valid)
• Voter's ID • Bank Statement(latest)
• Telephone Bill(latest)
• Electricity Bill(latest)
• Ration Card
• Flat Maintenance Bill(latest)
• Insurance Policy(latest)
• Leave-Licence/Purchase
Agreement(latest)
3 Photographs.
1 Cheque of Rs.(750+500)/=In Favour of Reliance Money Ltd.

or
1 Cheque of Rs.(750+2500)/=In Favour of Reliance money Ltd.
Competitive Analysis
The Major competitors are:
• 5paisa.com
• KotakStreet.com
• IndiaBulls.com
• ICICIDirect.com
• HDFCsec.com
5paisa
Company Background
Indiainfoline was founded in 1995 and was positioned as a research firm

In 2000 e-broking was started under the brand name of 5 paisa.com.
Apart from offering online trading in stock market the company offers
mutual funds online.
It also acts as a distributor of various financial services i.e. GOI securities,
Company Fixed Deposits, Insurance.
Limited ground network, present in 20 Cities
Online Account Types
•Investor Terminal : Investors / Students

•Trader Terminal : Day Traders / HNI’s
PRICING FOR RETAIL CLIENTS

Investor Terminal
•Account Opening : Rs 500

•Demat 1st Yr : Rs 250
•Initial Margin : Rs 2500(Compulsory)
•Min Margin Retainable : Rs 1000
•Brokerage :
Trading 0.10% each side + ST
Delivery 0.50% each side + ST
PRICING FOR HNI CLIENTS
Trader Terminal
•Demat 1st Yr : Rs 250
•Initial Margin : Rs 5000(Compulsory)
•Min Margin Retainable : Rs 1000
•Brokerage :
Trading 0.10% each side + ST
Delivery 0.50% each side + ST
( Negotiable to 0.05% each side & 0.25%)
•Account Access Charges

Monthly Rs 800, adjustable against Brokerage
Yearly Rs 8000, adjustable against brokerage
Deal Clinchers v/s 5 Paisa
•Company Background
Not having a very positive image, relatively new in the
broking arena, limited network
•Downtime
Recent past 5 paisa Trader Terminal (T.T) is experiencing high
frequency downtime between 3 – 3:30 p.m due to server load ( as their
T.T is feature heavy compared to Speetrade charting)
•Manual Accounting
The 5 paisa accounting system is manual, Online fund
transfer through bank is not credited instantly.
Limit is provided EOD for shares sold from DP, or call
Similarly limit released for shares sold under BTST is manual
Delay in receiving pay-out of clear funds from trading to Bank Account
•Min Account Balance
Concept of Min Rs 1,000 to be maintained in form of cash /
securities to keep account active. This can be withdrawn only on closure
of account.
KOTAK SECURITIES
Company Background
Kotak Securities is the sister concern of Kotak Mahindra bank. Kotak

Securities limited is a joint venture between Kotak Mahindra Bank and
Goldman Sachs.
Online Account Types
• Kotak Gateway Account : KEAT desktop version, Sms charge

Rs 100, KEAT premium at RS 500 pm, Min margin Rs 20000.
• Kotak Value Account: KEAT desktop version, Sms charge Rs 75,

KEAT premium at Rs 500 pm, Min margin Rs 5 lakhs.
• Kotak Privilege Circle Account: KEAT premium free, Sms free,

Min margin Rs 10 lakhs
PRICING OF KOTAK
• Account Opening : Rs 550 with kotak savings account, Rs 750

with margin of Rs 50000, otherwise Rs 1200.
• Demat : Rs 30 pm.
• Min Margin Retainable : Rs 1000.
• Brokerage Slab Wise : Higher the volume, lower the brokerage.
Even older customers (on 0.25% & 0.40%) have been moved to
the slab wise structure wef 1/4/2004.
Slab Structure of Kotak
Delivery volume pm Brokerage

< 1 lakh 0.59% Gateway Acc.
1 lakh – 5 lakhs 0.55%
5 lakhs – 10 lakhs 0.45%
10 lakhs – 20 lakhs 0.36% Value Acc.
20 lakhs – 60 lakhs 0.27%
60 lakh – 2 Cr 0.23%
> 2 Cr 0.18% Privilege Circle
Delivery volume pm Brokerage Square off

<25 lakhs 0.06% both sides Gateway acc
25 lakhs – 2 Cr 0.05% both sides Value acc.
2 Cr – 5 Cr 0.04% both sides
> 5 Cr 0.03% both sides Privilege acc.
Derivative Brokerage Slab
Delivery volume pm Daily Sq. up Settlement

< 2 Cr 0.07% both sides 0.09% both sides
2 – 5.5 Cr 0.045% “ 0.073% “
5.5 Cr – 10 Cr 0.036% “ 0.046% “
10 Cr – 25 Cr 0.027% “ 0.046% “
> 25 Cr 0.023% “ 0.032% “
Deal Clinchers v/s Kotakstreet
•Rigid Account Opening Terms

No Flexibility of A/c opening charges (Rs 550) + Compulsory
margin Rs 5000/-
•No Customization of commercial Terms
No Flexibility in Leverage – Dependent on Type of Account ( 4
to 6 times only)
No flexibility in Brokerage, driven by slab structure
•Many Other Charges
Rs 30 p.m towards DP AMC charges
DP incoming charges extra, 0.02%
Rs 1,000 as retainable Margin to keep account active
Rs 25 per call after 20 calls for the month
•Restricted Access to Terminal Like product
KEAT Desktop restricted distribution on payment of Rs 500,
Non refundable
INDIABULLS
Company Background
IndiaBulls is a retail financial services company present in 70 locations

covering 62 cities. It offers a full range of financial services and
Products ranging from Equities to Insurance. 450 + Relationship
Managers who act as personal financial advisors
Online Account Type
•Signature Account : Plain Vanilla Account with focus on Equity

Analysis. The equity analysis is a paid service even for A/c holders
•Power Indiabulls: Account with sophisticated trading tools, low
commissions and priority access to R.M
Pricing of IB Accounts
Signature Account
•Demat: Rs 200 if POA is signed, No AMC for this DP
•Initial Margin : NIL
•Brokerage : Negotiable
Power IndiaBulls
•Demat: Rs 200 if POA is signed, No AMC for this DP
•Initial Margin : NIL
•Brokerage : Negotiable.
Deal Clinchers v/s IndiaBulls
•POA for Clients DMAT

All shares held by client trading with IB are moved to IB Pool
Account and the same is shown as a reflection in client DP account.
Charges are levied to move shares from IB pool Account to client DP
account
•Paid Research Services
Access to an research even for an IB trading account holder is
charged a min of Rs 500 a month
•Margin Funding hoax
The interest on funding starts on leveraged delivery trades
from T+1 day itself @21% p.a, on a daily basis
•The role of Relationship Manager

Each RM is looked upon as a revenue generator and he gets a
% on business generated from client. This can lead to over leveraged
(Interest) & high frequency(Brokerage) trading, which may not be in the
best interest of the client.
ICICI Direct
Company Background
ICICI Web Trade Limited (IWTL) maintains ICICIdirect.com. IWTL is an

Affiliate of ICICI Bank Limited and the Website is owned by ICICI Bank
Limited
Account Types
•ICICI Direct e-invest Account : Plain Vanilla Account with focus on 3

in 1 advantage. Differentiated in services within the account
1.Cash on spot
2.MarginPlus
Premium Trading interface of ICICIDirect Link is given to DBC partners
and HNI’s
•Schemes : For short periods Rs 750 is refundable against brokerage
generated in a qtr. These schemes are introduced 3-4 times a year.
•Demat: NIL, 1st year charges included in Account Opening Plus a facility
to open additional 4 DP’s without 1st yr AMC

•Initial Margin : Nil
•Brokerage : All brokerage is inclusive of stamp duty and exclusive of
other taxes.
Delivery Vol per qtr Brokerage * Square Vol off p m

Brokerage **
< 10 lakhs 0.75%
10 lakhs - 25 lakhs 0.70%
25 lakhs -50 lakhs 0.55%
50 lakhs – 1 Cr 0.45%
1 Cr – 2 Cr 0.35%
2 Cr – 5 Cr 0.30%
> 5 Cr 0.25%
Deal Clinchers v/s ICICIDirect
•Poor online Interface

Slow website interface with no real-time quotes creates a
dissatisfaction among high frequency traders
•Margin trading restriction
The margin trading system is available up to 2:45 p.m, with
outstanding net positions under margin segment automatically squared
off at any time between 2:45 – 3:30 p.m. Thus no control of square off
price.
•Morning Trades Issue
Being one of the websites with largest no of after hour orders
which are pushed 1st thing in the morning, creates a choking of orders to
the exchange, causes delay of confirmations for new order placed during
the early morning trades
•Restriction of BTST
The sale of shares purchased is restricted to T+1 day and is
not permitted on T+2 Day.
•No leverage for Delivery trades
Delivery is restricted to the total money allocated into the
trading account.
•No flexibility on leverage on Intra-day trades
The leverage of 4 times is available for intra- day trades.
•Restriction of Bank Account
The choice of bank is restricted to ICICI Bank.
•Higher Brokerage rates with slabs
The delivery brokerage is pegged at 0.75% and trading at
0.10% each side, this makes is very unviable for customers dealing in
large volumes. Although progressively the delivery and trading brokerage
reduce as volumes go up.
HDFC SECURITIES
Company Background
HDFC Securities Ltd, is promoted by the HDFC Bank, HDFC and Chase
Capital Capital Partners and their associates. Pioneers in setting
up Dial-a-share services with the largest team of Tele-brokers
Online Account Type
HDFC Online Trading A/c : Plain Vanilla Account with focus on 3 in 1
advantage
Pricing of HDFC Account
•Demat: NIL, 1st year charges included in Account Opening

•Initial Margin : Rs 5000/- for non HDFC Bank customers ( AQB)
•Brokerage :
Trading 0.15%* each side + ST
Delivery 0.50%** each side + ST
* Rs 25 Min Brokerage per transaction
** Rs 8 Min Brokerage per transaction
Deal Clinchers v/s HDFC Securities

•Poor online Interface
Apart from having no product to cater to Day-Traders, the
hdfcsec.com website is plagued with downtime. The same is currently
being revamped.
•Lack of focus on Broking
The core business of HDFC is Housing Finance and that of
HDFC Bank is Banking. Broking as a business is a small part of the
portfolio of financial services and hence the commitment to resources is
limited.
•No Leverage
No leverage is available to clients even for Intra-Day trades,
effectively all clients are on cash and carry system.
ANALYSIS OF THE QUESTIONNAIRE

 In which of these Financial Instruments do you invest into?
Valid Cumulative
Frequency Percent Percent Percent
Valid Shares 70 67.3 67.3 67.3
Mutual
19 18.3 18.3 85.6
Funds
Bonds 6 5.8 5.8 91.3
Others 9 8.7 8.7 100.0
Total 104 100.0 100.0
70
60
50
40
70
n
u
q
y
cF
re
30
20
10 19
9
6
0
Shares Mutual Funds Bonds Others
Comments- This question was meant to closely study the pulse and
investment pattern in the stock market. It is clearly evident that 70% of
the sample size prefer to invest in the share market over other financial
instruments.
 Which type of trading do you prefer?
Valid Cumulative
Valid Online 77 74.0 74.0 74.0
Offline 16 15.4 15.4 89.4
Not
Applica 11 10.6 10.6 100.0
ble
Total 104 100.0 100.0
Not Applicable 11
Offline 16
Online 77
0 20 40 60 80
Frequency
Comments- The result shows that online trading has taken the driver’s
seat over the conventional trading ever since internet triggered a
revolution across the globe.
 If you prefer online trading then the reasons for it?
Valid Cumulative
Valid Privacy 20 19.2 22.7 22.7
User
Friendly
27 26.0 30.7 53.4
and time
saving
Convenie
20 19.2 22.7 76.1
nce
All the
21 20.2 23.9 100.0
above
Total 88 84.6 100.0
Missing System 16 15.4
Total 104 100.0
30
25
20
15
n
u
qF
27
y
c
re
21
10 20 20
0
Privacy User Friendly and Convenience All the above
time saving
Comments- The preferred choice of online trading itself is a proven fact

that most of them find it user friendly, time saving, convenient etc.
Hence it does not come as a surprise as 20% of the sample size preferred
all the three options.
 What factors motivates you to invest in securities?
Valid Cumulative
Valid New IPO's 25 24.0 24.0 24.0
Entry of
9 8.7 8.7 32.7
FII's
More
returns in 63 60.6 60.6 93.3
less time
Others 7 6.7 6.7 100.0
Total 104 100.0 100.0
New IPO's
Entry of FII's
More returns in
less time
7 Others
25
9
63
Comments – This question was meant to understand why more and

more investors have started creeping in the share market as never
before. About 3/5th of the sample size believed that there is a possibility in
multiplying their money within a short period of time and about 1/4th of
the sample population is driven by the IPOs issued by potential
companies.
 Does online trading motivate you to deal in securities?
Valid Cumulative
Vali Yes
84 80.8 80.8 80.8
d
No 20 19.2 19.2 100.0
Total 104 100.0 100.0
Yes
No
20
84
Comments-It is clear and transparent that online trading has become

more convenient way to deal in securities as majority (as much as 85% )
of the sample population voted for it.
 Have you heard about Reliance money?
Valid Cumulative
Valid Yes 81 77.9 77.9 77.9
No 18 17.3 17.3 95.2
3 5 4.8 4.8 100.0
Total 104 100.0 100.0
Yes
No
3
18
81
Comments – Out of the 100 people surveyed, Reliance Money has its
slice of share as it is familiar and popular among 80% of the sample
population. Hence Reliance Money is a well heard off name among the
investors.
 Which brokerage firm do you prefer for online trading?
Valid Cumulative
Valid ICICI
14 13.5 13.5 13.5
Direct
Reliance
27 26.0 26.0 39.4
money
Indiabul
23 22.1 22.1 61.5
ls
Kotak
Securiti 21 20.2 20.2 81.7
es
5 Paisa 18 17.3 17.3 99.0
7 1 1.0 1.0 100.0
Total 104 100.0 100.0
30
25
20
15
n
u
q
F
y
c
e
27
r
23
21
10
18
14
1
0
ICICI Direct Sharekhan Indiabulls Kotak 5 Paisa 7
Securities
Comments- This question was framed to understand the effectiveness of

Reliance money among its competitors. The push and pull factor worked
out well for Reliance Money as it grabbed 27% of the market share out of
the 100 people surveyed. But the survey also reveals an interesting point
that there is not much variation among the players in terms of investors’
consideration for a brokerage firm.
 What differentiates your share trading company from
others?
Valid Cumulative
Valid Brokerage 32 30.8 30.8 30.8
Research
51 49.0 49.0 79.8
Report
Dial up
Trade 8 7.7 7.7 87.5
facility
Exposure 3 2.9 2.9 90.4
Account
opening 7 6.7 6.7 97.1
charges
Others 3 2.9 2.9 100.0
Total 104 100.0 100.0
60
50
40
30
n
u
q
F
y
c
e
r
51
20
32
10
8 7
3 3
0
Brokerage Dial upTradefacility Account openingcharges
ResearchReport Exposure Others
Comments- This question was framed to read the mind of an investor.

The survey reveals that investors have become more analytical and
rationale over the period of time as they have compelled themselves to
take decisions on the basis of pre and post market research reports
offered to them at regular intervals. Also to some extent investors look in
for the brokerages charged by the trading firm while other options were
hardly considered as pre requisites for online trading.
 How often do you trade?
Valid Cumulative
Valid Daily 53 51.0 51.0 51.0
Weekly 31 29.8 29.8 80.8
Monthly 7 6.7 6.7 87.5
Yearly 13 12.5 12.5 100.0
Total 104 100.0 100.0
60
50
40
30
53
n
u
qF
re
y
c
20
31
10
13
7
0
Daily Weekly Monthly Yearly
Comments- This shows how stock market has swept the nation as a
whole. Most of the investors prefer daily and weekly trading to keep a
watch on the volatility of the stock market so as to take decisions
accordingly.
In which category does your income fall?(Per month in Rs)
Valid Cumulative
Valid 0-15000 26 25.0 25.0 25.0
15000-35000 61 58.7 58.7 83.7
35000-60000 17 16.3 16.3 100.0
Total 104 100.0 100.0
35000-60000 17
15000-35000 61
0-15000 26
0 10 20 30 40 50 60 70
Frequency
Comments- People from different categories of income group have taken

their chance to invest in the booming stock market. The upper middle and
middle class (income category ranging from 15000 – 35000) people have
taken the primary seat as far as the number of people involved in trading
is concerned.
What percentage of your earnings do you invest in share
trading?
Valid Cumulative
Valid Up to
39 37.5 37.5 37.5
10%
Up to
33 31.7 31.7 69.2
25%
Up to
13 12.5 12.5 81.7
50%
Above
14 13.5 13.5 95.2
50%
5 5 4.8 4.8 100.0
Total 104 100.0 100.0
40
30
20 40
n
u
q
F
y
c
e
r
34
10
15 15
0
Up to 10% Up to 25% Up to 50% Above 50%
Comments- About 70% of the sample size reveals that not more than
25% of their earnings will be pushed into the market which clearly
signifies that how volatility in the stock market can influence the
investors.
 (i) Rank the attribute "customer service" of a share trading
company?
Valid Cumulative
Valid most
27 26.0 26.0 26.0
Important
Important 24 23.1 23.1 49.0
Neutral 22 21.2 21.2 70.2
Less
18 17.3 17.3 87.5
Important
Not
Important 13 12.5 12.5 100.0
at all
Total 104 100.0 100.0
30
25
20
15
n
u
q
y
cF
re
27
24
22
10
18
13
5
0
most Important Important Neutral Less Important Not Important at
all
Comments- Investors feel that they should be provided with the best of
the services in order to associate themselves with a brokerage company
over a long period of the time. Hence more than half of the sample size
surveyed preferred it to be an important parameter of a brokerage firm.
(ii) Rank the attribute "proper guidance" of a share trading
company?
Valid Cumulative
Valid most
14 13.5 13.5 13.5
Important
Important 41 39.4 39.4 52.9
Neutral 24 23.1 23.1 76.0
Less
21 20.2 20.2 96.2
Important
Not
Important 4 3.8 3.8 100.0
at all
Total 104 100.0 100.0
Not Important at all
Less Important
Neutral
Important
most Important
0 10 20 30 40 50
Frequency
Comments- More than 50% of the sample population felt that they
require proper guidance from the brokerage company in order to execute
their operations effectively.
(iii) Rank the attribute "regular updates" of a share trading
company?
Valid Cumulative
Valid most
20 19.2 19.2 19.2
Important
Important 14 13.5 13.5 32.7
Neutral 17 16.3 16.3 49.0
Less
35 33.7 33.7 82.7
Important
Not Important
18 17.3 17.3 100.0
at all
Total 104 100.0 100.0
40
30
20
F
n
u
q
e
y
c
35
r
10 20
17 18
14
0
most Important Important Neutral LessImportant Not Important at all
Comments- Surprisingly about 35 people out of the 104 surveyed

thought that the regular updates provided by the company were not that
important. Only 34 of the sample population felt the importance of regular
market updates.
(iv) Rank the attribute "trustworthiness" of a share trading
company?
Valid Cumulative
Valid most
10 9.6 9.6 9.6
Important
Important 7 6.7 6.7 16.3
Neutral 28 26.9 26.9 43.3
Less
25 24.0 24.0 67.3
Important
Not Important
34 32.7 32.7 100.0
at all
Total 104 100.0 100.0
40
30
20
n
u
q
y
cF
re
34
28
25
10
10
7
0
most Important Important Neutral Less Important Not Important at
all
Comments- A mere 20% of the sample population do consider the

significance of the trustworthiness of the brokerage company with whom
they have been associated.
(v) Rank the attribute "brokerage charge" of a share trading
company?
Valid Cumulative
Valid most
36 34.6 34.6 34.6
Important
Important 15 14.4 14.4 49.0
Neutral 13 12.5 12.5 61.5
Less
5 4.8 4.8 66.3
Important
Not
Important 35 33.7 33.7 100.0
at all
Total 104 100.0 100.0
Not Important at all 35
Less Important 5
Neutral 13
Important 15
most Important 36
0 10 20 30 40
Frequency
Comments- The brokerage charges imposed on the investors makes a

significant impact on 50% of the sample population whereas another 35
felt that this factor is of no significance at all.
(i) Rank the company "RELIANCE MONEY" according to the
quality of service?
Valid Cumulative
Valid Excellent 31 29.8 29.8 29.8
Very
24 23.1 23.1 52.9
Good
Good 29 27.9 27.9 80.8
Average 17 16.3 16.3 97.1
Below
3 2.9 2.9 100.0
Average
Total 104 100.0 100.0
Comments- More than half of the sample population was satisfied with
the kind of service that Reliance Money offers to its customers.
(ii) Rank the company "ICICI Direct" according to the quality of
service?
Valid Cumulative
Very Good 41 39.4 39.4 61.5
Good 22 21.2 21.2 82.7
Average 7 6.7 6.7 89.4
Below
11 10.6 10.6 100.0
Average
Total 104 100.0 100.0
50
40
30
n
u
q
y
cF
re
20 41
23 22
10
11
7
0
Excellent Very Good Good Average Below Average
Comments-Even ICICI Direct had its share of slice; more than 80% of
the sample population is satisfied with its service offering.
(iii) Rank the company "INDIABULLS" according to the quality of
service?
Valid Cumulative
Very
21 20.2 20.2 58.7
Good
Good 26 25.0 25.0 83.7
Average 12 11.5 11.5 95.2
Below
5 4.8 4.8 100.0
Average
Total 104 100.0 100.0
40
30
20
n
u
qF
re
y
c
10
0
Comments-Even India Bulls joined the rat race as a handsome 75

members opted for India Bulls in this regard.
(iv) Rank the company "KOTAK SECURITIES" according to the
quality of service?
Valid Cumulative
Very
13 12.5 12.5 19.2
Good
Good 24 23.1 23.1 42.3
Average 52 50.0 50.0 92.3
Below
8 7.7 7.7 100.0
Average
Total 104 100.0 100.0
60
50
40
30
52
n
u
qF
re
y
c
20
10 24
13
7 8
0
Comments-Kotak Securities was viewed as a low quality service provider

as a mere 20 people voted in favour of this company as far as service
offering was concerned.
(v) Rank the company "OTHERS" according to the quality of
service?
Valid Cumulative
Very
5 4.8 4.8 7.7
Good
Good 6 5.8 5.8 13.5
Average 16 15.4 15.4 28.8
Below
74 71.2 71.2 100.0
Average
Total 104 100.0 100.0
80
60
40
n
u
qF
re
y
c
74
20
0 16
3 5 6
Comments-This result was very much predicted as other brokerage firms

like 5 Paisa are still viewed as a low quality service providers as a bulk of
them (about 75) were not in their favour.
FINDINGS
1. People with an eye for investment prefer to invest in shares.
2. This is mainly due to the fact that shares provide high returns in
less time.
3. People investing in shares prefer online trading because of
convenience and time saving.
4. People who recently started trading was mainly motivated by online
share trading concept.
5. Reliance Money is a known entity in the online business.
6. In online share trading brokerage and research reports are the
major criteria for selecting a broking company.
7. 50% of the people are satisfied with Reliance Money.

SUGGESTIONS
1. Company should invest more in its marketing strategies by giving
ads in newspapers, magazines, tv commercials etc.
2. The Account opening time taken is about 7 working days. This
should be reduced by improving logistics.
3. The account opening charges should also be reduced to attract
customers.
4. Customer care is not its best at Reliance Money. This should be
improved by prompt customer handling.
5. Some of the customers do not get the service promised to them.
There should be a check on the promises made.

LEARNINGS
1. I learned to apply a lot of theoretical knowledge into practical use.
2. As my work included the sales, I learnt some of the ground rules of
selling my product.
3. I also learnt to handle the month end stress when it is time to
complete the targets.
4. I also came to know the various work culture rules and ethics that
are required to be followed in the organization.
5. I also found that it is very important to build a relationship with a
client as it brings more business.
6. I also learnt to analyze and interpret data by working on this
project.
LIMITATIONS
1. Usual sampling errors may exist.
2. The universe selected was Delhi& Gurgaon region. So the result
cannot be generalized.
3. Some of the customers may be uninterested and may not have
replied correctly.
4. Respondent may also be biased due to several reasons.
5. Sample size was small which may affect the reliability of the result.
CONCLUSION
Indian economy has been globalized and the capital market has been
linked to the international financial market. Foreign individuals and
institutional investors are now encouraged to participate into it. So, there
is a need for raising the Indian Capital market in to the international
standards in terms of efficiency and transparency. One such measure is
the passing out of the Depository Act during the year 1996.
Dematerialization of securities and under this system is one of the major
steps aimed at improving and modernizing the capital market and
enhancing the levels of investor’s protection measures which aims at
eliminating the bad deliveries and forgery of shares and expediting the
transfer of shares.
Thus online share trading is gaining its popularity.
Though it still has to go a long way but it has established its foothold in
the metropolitan cities like Delhi, Mumbai etc. The dematerializing of
shares coupled with the huge growth of internet has been the fuel for the
online trading which is now a considerable part of the total trading.
It can therefore be said that online share trading is here to stay and will
only grow to bigger proportions and will penetrate deeper into the
economy.
I have seen both the phase of the company. I found a great improvement
in the brand awareness when company enters into second phase. After
the launch of advertisement on the television , demand and selling of
Reliance money products has increased. Their is huge difference between
both the phase in terms of number of products selling. In the end of the
project I found that print media and electronic media is more effective to
promote company products as a brand.
So online trading& Mutual Fund would become the order of the day,
taking over the traditional norms in the years to come.
BIBLIOGRAPHY
• Securities Market (Basic) Module :--NCFM
• Economic Times.
• Training Kit Provided by the Reliance Money.
Websites:
www.nseindia.com
www.bseindia.com
www.hdfcsec.com
www.indiainfoline.com
www.icicidirect.com
www.kotaksecurities.com
www.indiabulls.com
www.reliancemoney.com
www.icicibank.com
www.sify.com
Books Refered :
Marketing Research By G.C Beri

Marketing Management By Philip Kotler
Business today- Jan 2005, Feb2005

Applied fianace vol . 10 , no. 12- Jan 2005
Applied fianance vol. 10 no. 7 - Dec2004
ANNEXURE
QUESTIONNAIRE
Q1. In which of these Financial Instruments do you invest into?
(i) Shares (ii) Mutual Funds (iii)Bonds (iv) Others
Q2. Which type of trading you prefer?
(i) Online (ii) Offline (iii) Not Applicable
Q3. If you prefer Online Trading then the reasons for it?
(i) Privacy (ii) User friendly & Time Saving

(iii) Convenience (iv) All The Above
Q4. What factors motivates you to invest in securities?
(i) IPO's (ii) Entry of FII's

(iii) More returns in less time (iv) Others
Q5. Does online trading system motivate you to deal in securities?
(i) Yes (ii) No
Q6. Have you heard about Reliance Money?
(i) Yes (ii) No
Q7. Which Brokerage Firm do you prefer for Online Trading?
(i) ICICI Direct (ii) Reliance Money (iii) Indiabulls

(iv) Kotak Securities (v) 5paisa
(vi) Any other__________
Q8. What differentiates your Share Trading company from others?
(i)Brokerage (ii) Research Report (iii)Dial up trade facility

(iv)Magazine (v) Exposure (vi) Account opening charges
(vii) Others
Q9. How often do you trade?
(i) Daily (ii) Weekly (iii) Monthly (iv) Yearly
Q10. In which category does your income fall? (Per month in Rs)
i) 0-15000 ii) 15000 – 35000 iii) 35000 – 60000 iv) Above 60000
Q11. What percentage of your earnings do you invest in share

trading?
(i)Up to 10% (ii) Up to 25% (iii) Up to 50% (iv) Above 50%
Q12. According to your preference rank the attributes of a share

trading company.(1=Most Important, 5= Not Important at all)
1. Customer Service ____

2. Proper Guidance ____
3. Regular Updates ____
4. Trustworthiness____
5. Brokerage Charges_____
Q13. Rank these share trading companies according to the quality
of service they provide.(1=Excellent, 5= Very poor)
1. 2. 3. a. Reliance Money
b. ICICI Direct
4. 5. c. India Bulls
d. Kotak Securities
e. Others(Please Specify)
Q14. What additional features do you wish to have in Online

Share Trading?
Personal Information
Name:
Age:
Sex: Male Female
Phone No:
Occupation

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Project Report

Submitted in requirement of partial

Under The Guidance Of :

It was a great opportunity for me to work with Reliance money, pioneers

Firstly, I would like to thank my project guide Mr. Manish Shukla

I am indebted to all staff members of Reliance Money Ltd. for their

In today’s scenario Online Share Trading in Stock market is gaining

So, online share trading come in picture. In Online Share Trading

Online Share Trading is beneficiary for customer as well as company

About Reliance Money:

Reliance Money is lead by a highly regarded management team that has

Reliance Money offers a full range of financial services and products

Reliance Money' Client Relationship Managers are available to the

Services provided by the RELIANCE MONEY :--

1. Equities & Derivatives :--Comprehensive services for

2. Reliance Money equity analysis :--Premium research on

3. Depository Services :--Value added services for

I am Kapil Kumar from the batch of 2007-09, Dev Bhoomi Institute of

In the first phase I covered some other stock broking companies as

In between to acquire new customers for Reliance Money was also an

I took places in Gurgaon & Delhi as a sample. I did follow market

I was assigned with the task of comparing different online broking

a) Gathering data about the leading online broking houses and

b) Conducting Market Research in various parts of the city in order to

c) Customer Acquisition through sales of Trading / Demat Accounts in

e) To find the potential market for Reliance Money products and

d) To collect the real time information about preference level of

Methodology for Market Research

Reliance Money is a group company of Reliance Capital. It is under the

Reliance capital Director panel list

Anil D Ambani Chairman

Reliance capital has following groups of companies

Reliance capital entered into online trading business through “Reliance

Single window for multiple products: Reliance money through its

Convenience: You have the flexibility to access Reliance Money

3 in 1 integrated access : Reliance Money offers integrated access to

1. Equities and Derivatives

• Reliance Easy Trade - Comprehensive services including research

2. Reliance equity analysis

Reliance is a depository participant with the Central Depository Services

Reliance Money is dealing in all mutual funds explained in the diagram

EMERGENCE OF MUTUAL FUNDS:

Mutual funds now represent perhaps the most appropriate investment

MUTUAL FUND CONCEPT

A Mutual Fund is a trust that pools the savings of a number of investors

Before I dive into the definition of a mutual fund, it is important

Stocks represent shares of ownership in a public company. Examples of

DEFINITION OF MUTUAL FUND

A mutual fund is simply a financial intermediary that allows a group of

GROWTH AND INCOME SCHEMES

Mutual fund products or schemes are broadly categorized into Growth

Mutual Funds normally, invest in a well-diversified portfolio or

Investors in a mutual fund acquire a diversified portfolio, no matter

• Reduction transaction cost:

What is true of risk is also true of the transaction cost a direct

Mutual Fund management companies offered many investors services

• No Control Over Cost:

An investor in a mutual fund has no control over the overall cost of

• No tailor made portfolio:

• Managing a Portfolio of funds: