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PROJECT REPORT
AT
SHAREKHAN LIMITED, DELHI
A Project Report submitted in partial fulfillment of the requirements
for the award of the degree of
MASTER OF BUSINESS ADMINISTRATION
(Industry Integrated)
TO
MADURAI KAMRAJ UNIVERSITY, MADURAI
BY
MUKESH KUMAR AGRAWAL
Reg No. A8754390
Under the guidance of
Ms. DEEPTI GAUR
B-64, Okhla Industrial Area, Phase I, New Delhi
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DEC- 2009
Certificate
This is to certify that the Project Report at
SHAREKHAN LIMITED, NEW DELHI
Submitted in the partial fulfillment of the requirement for the award of
the degree of
MASTER OF BUSINESS ADMINISTRATION
(Industry Integrated)
TO
MADURAI KAMRAJ UNIVERSITY, MADURAI
Is a record of bonafide training carried out by
RAKESH
Under my supervision and guidance and that not part of this report hasbeen submitted for the award of any other degree/diploma/
Fellowship or similar title or prizes.
FACULTY GUIDE
Signature:
Name: Ms. Deepti Gaur
Qualification: M.COM Signature & Seal of the Learning
Center
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STUDENTS DECLARATION
I hereby declare that the Project Report conducted at
SHAREKHAN LIMITED, NEW DELHI
Under the guidance of
Ms. DEEPTI GAUR
Submitted in partial fulfillment of the requirement for the
Degree of
MASTER OF BUSINESS ADMINISTRATION
(Industry Integrated)
TO
MADURAI KAMRAJ UNIVERSITY, MADURAI
Is my original work and the same has not been submitted for the
awards of any other Degree/diploma/fellowship or other similar titles
or prizes
Place: RAKESH
Date: Reg No. A8754390
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CONTENTS
CHAPTER 1 INTRODUCTION
1.1 General introduction
1.2 Industry profile
a. Origin and development of the industry
b. Growth and present status of the industry
c. Future of the industry
CHAPTER 2 PROFILE OF THE ORGANISATION
2.1 Origin of the organization
2.2 Growth and development of the organization
2.3 Present status of the organization
2.4 Functional department of the organization
2.5 Organization structure and organization chart
2.6 Product and service profile of the organization Competitors
2.7 Market profile of the organization
CHAPTER 3 DISCUSSION ON TRAINING
3.1 Students work profile (Role and responsibility)
3.2 Description of live experience
CHAPTOR 4 STUDY OF SELECTED RESEARCH PROBLEM
4.1 Statement of research problem
4.2 Statement of research objective
4.3 Research design and methodology
4.4 Analysis of data4.5 Summary of finding
CHAPTOR 5 SUMMARY AND CONCLUSIONS
5.1 summery of learning experience
5.2 conclusions and recommendation
APPENDIX
Annexure like copy of questionnaire, interview schedule, leaflets,
brochures, photograph to be enclosed
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Bibliography
LIST OF GRAPHS & CHARTS
LIST OF TABLES
ACKNOWLEDGEMENT
I sincerely express my gratitude and sense of veneration to Mr. Amit Sharma
Team Manager (Sales). Sharekhan Limited for his active assistance and
support throughout the project work.
I would also like to give my heartiest thanks for his inspiration, motivation, and
guidance.
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Sl. No. Graph No. Graph Title Page No.
1 01 Market Share of Sharekhan 56
2 02 Brokerage Comparison 57
3 03 Growth rate of company 58
4 04 Growth rate comparison 59
5 05 No. of customers 60
6 06 Client Acquisition 61
Sl. No. Graph No. Graph Title Page No.
1 01 Market Share of Sharekhan 56
2 02 Brokerage Comparison 57
3 03 Growth rate of company 584 04 Growth rate comparison 59
5 05 No. of customers 60
6 06 Client Acquisition 61
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I
am also thankful to the staff member of the Sharekhan department for
providing me necessary information and co-operation during the project. I
would also like to pay my special thanks to Mr. Sanjeev (Faculty Guide) and
Mr. Amit Sharma (Project Consultant).
Last but not least. I would like to owe special thanks to my parents, elder
brother and friends, whose affection and the best wishes make my way easy
for completion of this project.
RAKESH
INTRODUCTION
INTRODUCTION TO THE TOPIC
The topic is to study the consumer preference towards investment in the stock
market. DEMAT A/C is a pool of various scripts and securities, where as online
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trading A/C is a tool of purchasing and selling of share or scripts online. These
scripts are then transferred to Depository account after three days.
This topic includes the practical experience of selling company product that is
followed by studying the consumer preference or interest towards the share
market. This is a market, which is uncertain sometime it gives the opportunity
of the huge profit and vice versa. It depends up on the investment customer
made. This is better option to have better return on the investment then
investing in banks, mutual fund or bonds etc. but the risk is high in this case.
This product offers the customer two type of investment option INTRADAY and
DELEVERY both of them has there own benefits and limitation but a better
way to have more return on investment. Intraday means investing in share
market for a day i.e. purchasing and selling of the share in one day. Delivery is
purchasing share and the selling it next day. The charges that company
charges in terms of brokerage are different in the both of the cases.
OBJECTIVE OF STUDIES
Main Objective
The main objective of selling DEMAT account cum online tradingaccount.
Specific Objective
Creating Customers
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Marketing of the product
Creating the relationship with the customer to have there sources
Motivating customers for trading
Job Responsibilities
I have been handling the following responsibility in the Sharekhan Limited
My job profile is to call on the given data i.e. leads
My job profile is to coordinate the team and also help them to sale the
product and also help them in the field.
My job profile is to understand the customer need and advising them to
make a portfolio as per there investment.
My Job profile is to convince customer for investment in the
commodities and Mutual Fund.
COMPANY PROFILE
ABOUT THE COMPANY
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SHAREKHAN RETAIL BROKING
Among the top three (3) branded retail services providers (Rs 856 crs
average daily volume.
NO. 2 player in online business
Large network of branded broking outlets in the country servicing
around 5, 45, 000 Clients.
MANAGEMENT TEAM
The company has an eighty years experience in broking business it was earlier
known as the SSKI group. The owner of the company is Mr. Dinesh Murikya
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Mr. Jaideep Arora
DIRECTOR
Sharekhan Limited
Tarun P. Shah Shankar Vailaya
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Share khan is one of the leading retail brokerage firms in the country. It is the
retail brokering arm of the Mumbai based SSKI group, which is over eight
decade of experience in the stock broking business. Share khan offer its
customer a wide range of equity related service including trade execution on
NSE, BSE, Derivatives, Depository services, online trading, investment advice
etc.
The firm online trading and investment site www.sharekhan.com was launched
on Feb 8, 2000. The site gives access to superior content and transaction
facility to retail customers across the country known for its jargon free,
Investor friendly language and high quality research.
The site has a registered base of over6 Lacs of customers. the number of the
trading member currently stands at over6 Lacs While online trading currently
account for just 1 per cent of the daily trading in stock in India, share khan
alone accounts for22 per cent of the volumes traded online.
The content rich and research oriented portal has stood out among its
contemporaries because of its steadfast dedication to offering customers best
of the breed technologies and the superior market information .the objective
has been to let customer make informed decision and to and simplify the
process of investing into the stock.RAKESH
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On April 17, 2002 Sharekhan launched the Speed trade, a net based
executable application that emulates the brokers terminals along with host of
other information relevant to the day traders. This was the first time that a net
based trading station of this caliber was offered to the traders. In the last six
month speed trade has become a de facto standard for the day trading
community on the net.
Sharekhan ground network includes over 250 countries in 123 cities in
India, of which 20 are the fully owned branches.
Sharekhan has always believed in investing in the technology to build its
business.
The company has used some of the best known means in the IT sector, like
Sun Microsystems, Oracle, Microsoft, Cambridge technology, Nexgenix,
VeriSign Financial Technologies India Ltd, Spider Software Pvt Ltd. built its
trading engine and its contents. The Morokhia family holds the majority of the
stock in the company, HSBC, Intel and Carlyle are the other investor.
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With a legacy of more than 80 years in the stock market, the SSKI groups
ventured into institutional broking and the corporate finance 18 years ago.
Presently SSKI is one of the leading players in the institutional brokering and
the financial activity. SSKI holds a sizeable portion of the market in each of the
segment.
SSKI institutional brokering arm account for the 7% of the market for foreign
institutional portfolio investment and 5% of all domestic institutional portfolio
investment in the country. It has the 60 institutional clients spread over all over
India, Far East, UK and US.
Foreign institutional investor generates approx 65% of the organizational
revenue with a daily turnover of over $2 million.
The corporate Finance has a list of very prestigious client and has many firsts
of its credit in the term of size of the deal sector tapped etc The group has
placed over US$ 2 billion in private equity deals. Some of the client include
BPL cellular holding, Gujarat Pipavav, Essar, Hutchison, Planetasia and
Soppers stop.
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Sharekhan business
1. Brokering business.
2. White feathering house production.
Vision
To be the best retail broking brand in the retail business of the stock market.
Mission
To educate and empower the individual investor to make better investment
decisions through quality advices and superior services.
Stock exchange Mumbai
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Share khan is the retail broking arm of SSKI, an organization with more
then eight decade of trust and credibility in the stock market.
Amongst pioneers of investment research in the Indian market.
In 1984 venture into institutional broking and the corporate finance.
Leading domestic player in the Indian institutional business.
Over US$5 billion of private equity deal.
SSKI group companies
SSKI investor services ltd (Sharekhan)
S.S. Kantilal Isharlal securities
SSKI corporate finance.
Idream productions
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SSKI - Corporate Structure
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80 years of taming
Bulls & Bears
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REASON TO CHOOSE SHAREKHAN LIMITED
Experience
SSKI has more than eight decade of trust and credibility in the Indian stock
market. In Asia money market poll held recently, SSKI won the India best
broking house for 2004 award. Ever since it launch Sharekhan as its retail
broking division in February in 2000.it has been providing institutional level
research and broking service to individual level investor.
Technology
With our online trading account you can by and sell share in the intent from
any PC with an internet connection. You will get assess to our powerful online
trading tool that will help you take complete control over your investment in
share.
Accessibility
Sharekhan provides ADVICE, EDUCATION, TOOL AND EXECUTION service
for investors. These service are accessible throw our center across the
country. (Over 588 location in148 cities) over the internet (throw the website
www.sharekhan.com) as well as over the voice tool.
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Knowledge
In a business where the right information at the right time translates into the
direct profit, you get access to a wide range of information on our content rich
portal, Sharekhan. You will also get a useful set of knowledge-based tools that
will empower you to take informed decisions.
Convenience
You can call our dial and trade number to get investment advice and execute
your transaction. We have a dedicated call center to provide this service via a
toll free number 1800-22-7500 form anywhere in India.
Customer Service
Our customer service team assists you for any help that you need relating to
the transaction, billing d-mat and other queries. Our customer service can be
contracted via a toll-free number email or live chat on www.sharekhan.com.
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Investment Advice
Sharekhan has dedicated research team of more than 30 people for
fundamental and the technical research. Our analysis constantly tracks the
pulse of the market and provides the timely investment advice to you in the
form of daily research email. Online chat, printed report and sms on your
mobile phone.
Benefits
Free depository a/c
Secure order by voice tool dial and trade
Automated portfolio to keep track of the value of your actual purchase
Personalized price and account alerts delivered instantly to your cell
phone number and e-mail address
Special personal inbox for order and the trade conformation
On-line customer service via web chat
Any time ordering
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LITERATURE REVIEW
GENERAL INTRODUCTION
DP (DEPOSITORY PARTICIPENTS)
As an investor you can open a securities accounts with a DP.DP are attached
to the depositories very much the same way as commercial banks are
attached the RBI. All interaction include account opening, dematerialization,
pledge etc are done through DP
Reason to choose DP
You can select your DP to open a demat account just you like to select a bank
for opening a saving account .some of the important factor to selecting DP can
be
Convenience: proximity to the office /residence, business hours.
Comforts: reputation of DP, past association, range of service etc. find
out if the DP is in a position to give the specific service you may need.
Cost: the service charge levied by the DP and the service standard.
Dematerialization
The dematerialization system is an alternative to the physical existence of the
securities. In the system securities are converted into the electronic form and
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deposited in a depository account in the investor name. In order to
dematerialize certificates an investor will have to open an account with a DP
and then request for the dematerialization of the certificate by filling up a
dematerialization request form (DRF) which is available with the DP and
submitted the same along with the physical certificate the investor has to
insure that before the certificate are handed over the DP for demat they are
defaced by making surrender for the dematerialization on the face of
securities.
Procedure for selling dematerialized securities
The procedure for selling dematerialize securities in stock exchange is similar
to the procedure for selling physical securities instead of delivering physical
securities to the broker, you instruct your DP to debit your account with the
number of securities sold by you and credit your broking clearing account. This
delivery instruction has to be given to your DP using delivery instruction
booklet received from the DP at the time of opening an account The
procedure for selling securities are given below:
Investor selling securities in any of the stock exchange linked to NSDL
through a broker.
Investor gives instruction to the DP to debit his account and credit the
brokers account.
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Before the pay in day, investor brokers give instruction to his DP for
delivery to clearing corporation.
The broker received payment from the stock exchange (clearing
corporation)
The investor receives payment from the broker for the sale in the same
manner payment is received for a sale in the physical mode.
NSDL
Although India has a vibrant capital market which is more then a century old
.the paper based settlement of trade cause the substantial problem like bad
delivery and delayed transfer of title till recently. The enactment of depository
act in august 1996paved the way for establishment of the NSDL the first
depository in India .this depository promoted by institution of nation structure
responsible for economic development of the country has since establishment
of the national infrastructure of international standard that handle a most of the
trading and settlement in dematerialization from in Indian capital market. Using
the innovative and the flexible technology, NSDL works to support the investor
and brokers in the capital market of the country. NSDL aims at insuring the
safety and the soundness of Indian market place by developing settlement
solution that increase efficiency, minimize the risk and reduce cost. At NSDL
we play a quiet but central role in developing need of the financial service
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In
the depository system securities are held in the depository account which is
more or less similar to the holding funds in the bank account. Transfer of
ownership of securities is done through simple account transfer .this method
done away with all the risk and hassles normally associated with paperwork
consequently, the cost of transacting in a depository environment is
considerably lower as compared to the transacting in certificate.
TYPES OF THE PRODUCT
CLASSIC ACCOUNT
This account allow the client to trade through our website www.sharekhan.com
and is suitable for the retail investor who is risk averse and hence and prefers
to invest in stocks and who do not trade very frequently.
Features classic screen serves hot.
Online trading account for investing In Equities and Derivatives
www.sharekhan.com
Integration of the On-line trading, Saving bank and Demat Account
Instant cash transfer facility against purchase and the sale of share
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Competitive transaction charge
Instant order and the trade conformation by E-mail
Streaming quotes (cash and derivatives)
Personalized market watch
Single screen interface for cash and derivatives and more
Provision to enter price trigger and view the same online in the market
watch
Live terminal(NSE online and BSE offline)
SPEEDTRADE
SPEED TRADE is an internet based software application that enables you to
buy and sell in an instant.
It is ideal for active traders and jobbers who transect frequently during day
session to capitalize on intraday price movement.
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Features
Instant order execution and confirmation
Single screen trading terminal (NSE)
Real time streaming quotes, tic-by-tic charts
Market summery (cost traded scrip, highest value etc)
Hot keys similar to the brokers terminal
Alerts and reminders
Back-up facility to place trades on Direct Phone lines
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Customer can view 425 scripts
at a time
Customer can view graphicalPresentation
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PROCESS OF ACCOUNT OPPENING
LEAD MANAGEMENT SYSTEM (LSM) / REFERENCES
CONTACT
TELEPHONE AND PRESONAL VISIT
APPOINTMENT
DEMONSTRATION
AGREE DISAGREE (CLOSE)
DOCUMANTATION
FILLING THE FORM
SUBMISSION THE FORM
LOGIN OF THE FORM
SENDING THE ACCOUNT OPENING KIT TO THE CUSTOMER
FOR TRADINGRAKESH
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CHARGE STRUCTURE
STRUCTURE FOR PREPAID - ACCOUNT INDIVIDUAL
Account openingAdvance brokerage for
One year
FREE One Time 2000/-(classic)Intra day-0.035%*Delivery-o.40%*
FREE One Time 6000/-(speed trade)Intra day-0.025%*Delivery-0.25%*
FREE One Time 18000/-(speed trade)Intra day-0.02%*Delivery-0.20%*
FREE One Time 30000/-(speed trade)Intra day-0.015%*Delivery-0.15%*
FREE One Time 60000/-(speed trade)Intra day-0.010%*Delivery-0.10%*
*conditions apply
* Refundable incase the brokerage is more than RS 500/=p.m.
** Conditions Apply
*** Taxes as per govt.
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STRUCTURE FOR POST PAID - ACCOUNT INDIVIDUAL
CHARGE CLASSIC ACCOUNTSPEED TRADE
ACCOUNT
Account openingRs. 750/- with5000 Margin Money
Rs. 375/- with5000 Margin Money
Monthly commitment Rs- NIL Rs 500
BrokerageIntra day - 0.10%Delivery - 0.50%
Intra day - 0.10%*Delivery - 0.50%*
* Refundable in case the brokerage is more than Rs 500/-pm
** Taxes as per govt.
We offer an on line trading account along with Demat a/c for the benefit to the
employee of your company.
Depository charges
Account opening charges Rs NIL
Account maintenance chargesRS NIL first year RS 300/- p.a. fromsecond calendar year onward
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PRODUCT DETAILS
Online Trading
a) CLASSIC ACCOUNT: A/C Opening charges Rs. 750 /-
DEMAT ACCOUNT frees for first year and Rs.300 /- from second year
onwards (annual maintenance charges). Trading through website live terminal.
No brokerage commitment required. NSE and BSE Online both cash and F&O
b) SPEED TRADE : A/C Opening fee Rs. 375/-both cash and F&O
Monthly recurring Fee: Rs. 500/-per month, which is very nominal if you
consider the benefit of the product. This access charge will be debited to all the
new customers signed up after September 15, 2004.and after end of the month
if the client has contributed more than RS 500/-as brokerage the access
charge of Rs 500/-will be credited back to the client account. Please note-this
credit of Rs 500/-will be given to the customer who have contributed more than
RS 500/-brokerage during the month.
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Minimum brokerage Intra Day per Share
5 paisa each leg (buy or sell) for intra day traders (For e.g. on a Rs 20 Scrip,
brokerage @ 0.10%=2 paisa, but there is a minimum chargeable amount of 5
paisa)
Minimum Delivery Handing Charge:
10 paisa for Delivery Trades (buys and sells for e.g. On a Rs 10 scrip
brokerage @ 0.50%= 5 paisa, but there is minimum chargeable amount of 10
paisa)
Rs 16/-per Scrip (The brokerage scrip will be charge for the selling of share
resulting in delivery on actual.) (For e.g. if a customer sell100 share of SAIL
total delivery value 2200 brokerage @ 0.5%=RS 11 but the main chargeable
amount per scrip per day=RS 16, so additional RS 5 will be charge as
minimum delivery handling charge)
EXPOSURE: 4 TO 6.7 TIMES (ON MARGINE MONEY)
Online IPO available
We have tie up with Eleven Bank for the online fund transfer i.e. HDFC, ICICI,
IDBI, CITI, Union Bank of India, Oriental Bank of Commerce, INDUSIND, UTI
Bank, Bank of India and Yes Bank for the online money transfer.
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FOLLOWING DOCUMENT ARE REQUIRED TO OPEN AN ACCOUNT WITH
THE SHAREKHAN LTD.
FOR ID PROOF RESIDENCE PROOF
Pan card (Mandatory) Passport (valid)
Driving license Voter ID, Driving license(valid)
Voter ID Telephone Bill or Electricity Bill (latest)
MAPIN UIN card Insurance Policy (latest)
Leave License / Purchase Agreement
** 2 Photograph (Passport size & Front Face)
** 1 Cheque of Rs 750/- for Classic Account and 375/- for the Speed Trade
in favors of the (Sharekhan Limited)
SHAREKHAN
SERVICES
Dial-N-Trade
Along with enabling access for your trade online, the classic and speed trade
account also gives you our dial-n-trade services. With this services, all you
have to do is dial our dedicated phone line 1-800-22-7500 IPO ONLINE
Can apply all the forthcoming IPO online hasselfree.
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Research Tips
Company Provide 4-6 E-mail to there customers per day
Online Trade in Share
Sharekhan customers can online trade through there computers, through
internet during the market timings.
Online Fund Transfer
We have tie up with Eleven Banks for online fund transferring i.e. HDFC, IDBI,
CITI, UBI, OBC, INDSLANDAND and UTI BANK, Yes bank, Bank of India for
Online Money Transfer.
Research based investment advice
Investment and trading services
Trading and seminars
Technology based investment tools
Integrated demat facility
CUSTOMER CAN TRADE IN
o Equities
o DerivativesRAKESH
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o Commodities
CUSTOMER SERVICES TRANGLE
SUPPORTIVE MANAGEMENT
Understand the need of an employee and helps them with
continuous improvement through input and training.
Creates a healthy environment for career growth.
Rewards high performance and initiative.
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Caring & Competent
Employee
Supportive
Management
Efficient Product & System
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Backs decisions made by employees.
Provide coaching and feedback.
EFFICIENT PRODUCT AND SYSTEM
Efficient product and services.
Well designed processes to serve the customer needs.
System that are the back bone of the processes and ensure
information flow and data collection.
CARING AND THE COMPITENT EMPLOYEES
Having the knowledge of the product
Have competition knowledgeRAKESH
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SHAREKHAN, one of the India leading brokerage house, is the retail arm of
SSKI, with over 510 share shops in 170 cities, and Indias premier online
trading portal www.sharekhan.com, our customer enjoys multi channel access
to the stock markets.
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Citigroup Keen to buy 85% in Sharekhan for Rs 650 Cr
Archana Venkat
Chennai, June 27 Citigroup Venture Capital has expressed interest in buying
85 percent stakes in retail brokerage firm Sharekhan Ltd. For about Rs 650
crore.
Details of the deal, such as whether existing shareholders will offload their
stake partly or completely, are being worked out, according to Mr. Jaideep
Arora, Director, Sharekhan
The post deal valuation would be about Rs 825 crore, he told Business Line.
Currently, the Morakhia Family owns about 44 per cent stake in the company
while 42 per cent is held by private firms HSBC Private Equity, Intel Capital
and General Atlantic.
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We are working out how much stake of these Parties will have to offload. We
are also evaluating options of other private equity firms buying stake in the
company, he said
This exercise is expected to be completed in next few months.
The Company plans to use the capital raised through private equity to fund its
Rs. 200 crore expansion, which includes expanding its online platform across
India and launching international Operation in Dubai by November.
In Chennai to inaugurate Sharekhans exclusive outlet that will distribute ICICI
Prudential Life Insurance products, Mr. Arora said that the company may go
public with an IPO next year, after spending the capital raised through private
equity partners.
The company has entered into a tie-up with ICICI Prudential to distribute its
products through all Sharekhan offices, besides setting up some excusive
outlets.
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This tie-up may also explore possibilities for launching exclusive products for
Sharekhan customers, Mr. Arora said.
Sharekhan has introduced Share Mobile a mobile application using GPRS
technology that tracks share prices, provides updates and also facilitates
trading.
Currently being beta tested by a few thousand users, the application is
available for free but without the trading option.
Once the SEBI issues guidelines on mobile trading, the option would be
available to users, Mr. Arora said.
Pricing for the operator independent application has not been decided yet,
Sharekhan has over 679 branches in 234 cities and about four lakhs trading
members.
With largest number of life insurance policies in force in the world, insurance
happens to be a mega opportunity in India. Its a business growing at the rate
of 15-20 per cent.
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Annually and presently is of the order of Rs. 450 billion. Together with banking
services, it adds about 7 per cent to the countrys GDP. Gross premium
collection is nearly 2 per cent of GDP and funds available with LIC for
investments are 8 per cent of GDP.
Yet, nearly 80 per cent of Indian population is without life insurance cover while
health insurance and non life insurance continues to be below international
standards and this part of the population is also subject to weak security and
pension system s with hardly and old age income security. This it self is an
indicator that growth potential for the insurance sector is immense.
A well developed and evolved insurance sector is needed for economic
development as it provides long term funds for infrastructure development and
at the same time strengthens the risk taking ability. It is estimated that over the
next ten years India would requires investments of the order of one trillion US
dollar. The Insurance sector, to some extent can enable investments in
infrastructure development to sustain economic growth of the society.
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Insurance is a federal subject in India. There are two legislations that govern
the sector, The Insurance Act, 1938 and the IRDA Act, 1999. The insurance
sector in India has come a full circle from being an open competitive market to
nationalization and back to a liberalized market again. Tracing the
development in the Indian insurance sector reveals the 360 degree turn
witnessed over a period of almost two centuries.
CLOSURE OF ACCOUNT
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1.
CLOSURE ON CLIENTS REQUEST
A DP can close a depository account on receipt of an application in the
prescribed format. The application should be made by the account holder or by
all the joint-holders. An account can be closed only when there as no balance
in the account in case there is balance in the account sought to be closed, the
following steps are necessary:
a. Re-Materialization of all securities standing to the credit of he account at
the time of making the application for closure.
b. Transferring the balance to the credit of another account opened by the
same account holder(s) either with the same participant or with a
different participant. Before closing the account the DP should ensure
that all pending transactions have been settled. The request for closure
should be processed only after ensuring that there is unbalance lying in
the account.
2. CONSOLIDATION OF ACCOUNT
Some clients could have opened multiple accounts to dematerialize their
shares held in multiple combination and sequence of names. However, they
may not need so many accounts after they have dematerialized their shares
and may want to bring all their share holdings into one or fewer accounts. This
can be achieved by using normal market transfer instruction.
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3. CLOSURE BY DP
The DP may also initiate closure of a clients account if the client has
defaulted in performing its obligations laid out in the client-participant
agreement. The participant should give sufficient notice to the client before
initiating closure of his account. The notice should clearly state the reason
for closure of account. The process of closing account in such a case is the
same that of client-initiated closure.
CLOSURE / SHIFTING OF CLEARING ACCOUNT
A clearing member may transfer its clearing account from one DP to another
DP. For this, simultaneously applications have to be made for closure of
account to the earlier DP and for opening of new clearing member account to
the new DP. On receipt of the application, the new DP forwards the application
to the depository for approval and allotment of a new CM-BP-ID. Once the new
CM-BP-ID is allotted, the new DP opens.
New clearing account and intimates the depository about the new client-ID. On
receipt of intimation from the new participant, the depository advises the old
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DP to close the account. The old DP then closes the account and intimates the
clearing member. All payout of securities, subsequent to closure of old clearing
account, take place in the new account.
RESEARCH METHODOLOGY
RESEARCH METHODOLOGY
Research Methodology is a way to systematically solve the research problem.
It may be understood as a science of studying how research is done
scientifically. In it we study the various steps that are generally adopted by a
researcher in studying his research problem s along with logic behind him.
Why a research study has been undertaken, how a research problem defined,
in what way and why the hypothesis has been formulated, what data have
been collected and what particular method has been adopted, why particular
technique of analyzing data has been used and a host of similar other
questions are usually answered when we talk of research methodology
concerning a research problem or study.
RESEARCH DESIGN
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A
research design is the arrangement of conditions or collection and analysis of
in a manner and aims to combine relevance to the research purpose with
economy in procedure. In fact the research design is the conceptual structure
within which research I conducted. Research design is needed because it
facilitates the smooth sailing of the various research operations thereby
making as efficient as possible yielding maximum information with minimal
expenditure of effort, time and money.
I have adopted descriptive and conclusive research design. Descriptive
research is those studies, which are concerned with describing the
characteristics of a particular individual or a group. Since the aim is to obtain
the accurate information about the customer in terms of his interest towards
investment in stock sector. I have used the techniques of questioning customer
in order to know their consumer behavior, their interests, their needs and etc.
It is very important for the sales executive to study the mind of the consumer
so that the personal visit would not be a waste of time, money and efforts.
DATA SOURCES
The research can gather primary data, secondary data or both. Secondary
data are data that were collected for another purpose and already exist
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somewhere. Primary data are data specially gathered for a specific purpose or
for a specific research project. When the needed data do not exit or are
outdated, inaccurate, incomplete, or unreliable, the researcher will have to
collect primary data. Most marketing research project involves some primary
data collection.
PRIMARY DATA
I have collected primary data through personal references.
LMS i.e. Leads Management System of the company.
Customer references.
SECONDARY DATA:
The main source of information for the project was:
Weakly Magazine
Telephone Directory
Used Leads of the company
Leads of the company; i.e. telephone list for tele calling
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CONTACT METHOD:
The marketing researchers have four choices to contact the respondents:
Telephone
Personal
Online
I choose the above techniques to reach to the customer in a most convenient
method.
LIMITATIONS:
Lack of awareness of Sharekhan and stock market:
Since the area is not known before it takes lot of time in convincing people to
start investing in shares primarily in IPOs
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Some people are comfortable with traditional system:
As people are doing trading from there respective brokers, they are quite
comfortable to trade via physical form of paper, they want to trade off line, i.e.
through telephone or etc.
Lack of Techno Savvy people and poor internet penetration:
Since most of the people are quite experienced and also they are not techno
savvy. Also Internet penetration is poor in India.
Some respondent are unwilling to talk:
Some respondents either do not have time or willing does not respond, as they
are quite annoyed with the phone call.
Inaccurate Leads:
Sometimes leads are provided which had error in it, which varies from only 5
digit phone numbers to wrong phone numbers, some people have registered to
know about their personal quarries. They are the unsatisfied clients of the
company.
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Misleading concepts:
Some people think that as all the shares are in electronic form and they dont
have any physical proof. Sometimes this leads to a great misconception of the
entire process.
MARKETING STRATEGY?
A strategy that focuses on developing a unique long run competitive position in
the market by assessing consumer needs and the firms potential for gaining a
competitive advantage.
A business approach to marketing its products / services expresses in broad
terms, which forms the basis for developing a marketing plan.
Marketing starts with market research, in which needs and attitudes and
competitors products are assessed, and continues through into advertising,
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promotion, distribution, and where applicable customer servicing and repair,
packaging and sales and distribution.
The broad marketing thinking that will enable an organization to develop its
products and marketing mixes in the right direction, consistent with overall
corporate objectives.
MARKETING STRATEGIES OF THE COMPANY
Tele-Calling:
The company uses the tele calling / phone calling to reach the customer, which
are interested. This is the most important techniques to save time and giving
demo of the companies products through making call in order to know the
customer interest towards the product. This is the strategy with which one can
motivate customer to go for the product and etc.
LMS:
It is leads management system which means leads are generated by the
customer who wants to purchase the products of the company. Company
provides facility to the customer on online to fill the registration form through
which the companies executive can provide more information to the customer.
Yellow Pages:
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Yellow pages are used to gather data for making calls so that customer who
did not find time and are unaware of the product can know about the product.
Customers are given freedom to ask question related to the products this is the
technique used to increase the awareness of the company.
Canopys:
This is the most important techniques used by Sharekhan Securities to market
its product in different areas of the city, company put their canopies and
customers who are willing to know about the product come forward and
provide best of their knowledge. Besides this company executives ask
customers to fill the questionnaire that tells the company about the levels of
brand awareness. It also increases the product awareness because it is
generally put at he crowdies places like near main market, cinemas, hotels,
ATM or etc where people come in good numbers.
Direct Marketing:
Sharekhan executives reaches to the doors of the customer by fixing
appointments with the interested customers, they describe the details of the
product. Executive give demonstration of the product so that customer can
understand better.
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Advertising:
Advertising is the most important tool of increasing awareness of the product
and this is the most widely used techniques by the company to tell about the
new features and new launch by giving briefing of the product.
Sharekhan use banners, distribution of pamphlets and advertising in
newspapers.
References:
Sharekhan strategy is to satisfy the customers in terms of their need by
providing them timely services and knowledge about the trade in equities,
mutual fund, by giving tips for investment advises through e-mails or toll free
calls for this purpose customers are provided relationship manager who gives
investment advice and also make transaction on their behalf on demand. By
satisfying customer executive ask their references that not only increases the
awareness but also increase the goodwill of the company.
Competitiveness:
The company is innovative and uses the latest technology to improve the
product to fulfill the demands of the customers. Sharekhan make it easy for the
customers to make online transaction of shares. The company is competitive in
terms of the product price and facilities it offers to the customers.
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Internet:
Company provides detailed information about the products on internet so that
customer can know about the products easily and completely.
UNIQUE OBJECTIVE OF THE COMPANY
200000+ retail customers being service though centralized call centre /
web solution 60 branches servicing affluent / aggressive trades through
highly skilled financial advisers.
250 independent investment managers / franchisees servicing 50000
highly valued clients.
Strong advisory role through Fundamentals & technical research
New initiatives - Portfolio Management Service & Commodities trading.
Dealing in mutual funds.
COMPETITOR ANALYSIS
5PAISE.COM
Company Background:
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Indiainfoline was founded in 1995 and was positioned as a research firm in
2000 e-broking was started under the brand name of 5paisa.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.
Charges for Demat:
Demat 1st yr: Rs. 250/-
Pricing for HNI Clients
KOTAK STREET
Company Background:
Kotakstreet is the retail arm of Kotak Securities. Kotak Securities limited is a
joint venture between Kotak Mahindra Bank and Goldman Sachs.
Charges for Demat:
Rs. 22.5 p.m.
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INDIABULLS
Company Background:
India Bulls 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
Charges for Demat:
Rs. 200 if POA is signed, No AMC for this DP
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.
ICICI Direct
Company Background:
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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.
Charges for Demat:
NIL first years
500 per annum
HDFC SECURITIES
Company Background:
The HDFC Bank, HDFC and Chase Capital Partners and their associates
promote HDFC SECURITIES LTD. Pioneers in setting up Dial-a-share services
with the largest team of Tele brokers
DEMAT ACCOUNT WITH HDFC:
It is conversion of Physical shares into electronic form.
Dematerialization charges
Rs. 3 per share certificates
Rs. 35 per request
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Folio charges are Rs. 150 per annum
Buying and selling transaction through brokers charges are 0.05% of
transaction value
Off market transaction charges 0.04% of transaction value
Charges for Demat:
First Year: NIL
Yearly Charges: Rs. 450/- per year
SWOT ALAYSIS
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A SWOT analysis focuses on the internal and external environment, examining
strengths and weaknesses in the internal environment and opportunities and
threats in the external environment.
STRENGTHS
Services
As a product Sharekhan I a extremely innovative product with very les cost.
Services like online trading facility, institutional and domestic broking,
customized research report with almost 80% efficiency etc give Sharekhan an
edge over its competitors. Sharekhan provides other support services that
make retail investors more confident and assured with their trading. SMS alerts
(allowing traders and investors to make the most of the available
opportunities), Softer, intangible features like imagery, equity driving
preference. Through efficient trading processes Investor can place their order
directly on the Internet, do all the information seeking and basically own the
investing process.
Distribution Network
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Sharekhan with almost 250 branches spread across 123 cities beefed up by
comprehensive online research, advice and transaction services. In near future
expect to make 20000+ retail customers being serviced through centralized
call centre / web solution.
60 branches / semi branches servicing affluent / aggressive traders highly
skilled financial advisors, 250 independent investment managers / franchisees
servicing 50000 highly valued clients, strong advisory role through
Fundamentals & technical research and new initiative are being made in
Portfolio Management Services & Commodities trading.
Marketing
Sharekhan is a product of SSKI, a veteran equities solution company with over
decades of experience in the Indian stock markets. Sharekhan does not claim
expertise in too many things. Sharekhans expertise lies in stocks should not
be confused with trading in stocks or a portfolio-based strategies is better than
betting on a single horse, it is something that is spoken with years of focused
learning and experience in the stock markets.
Products
Companys Product line is quite flexible in the sense that there is a product for
every kind of investors. Also all the products cover all the loopholes of al the
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products offered by the competitors like low cost, user-friendly online trading
services etc.
WEAKNESS
Customer Satisfaction
As far as customer satisfaction goes Sharekhan has to tighten their socks.
Many broking house catering to heavy investors or small segment of the
market can afford to and does provide relationship managers for their
customers, who can understand the trading needs of individual customers, and
advises accordingly. However, a broking house like Sharekhan, which caters
to the mass segment, is in n position to provides relationship managers for
individual customers.
Branding
Through the company has a efficient products bur large part of investment
interested population does not know the company. The most basic expectation
for a trader or investor when one begins trading is that one must get timely
delivery of shares and proceeds from sale of shares. Also ones cash balance
with the broker must be safe and secure. Though this confidence in the broker
comes with time and experience, good and transparent practices also play a
major role in imbibing confidence in traders.
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Competition from banks
Most of the banks due to good branding have the faith of the customers of their
banking database. So they enjoy the liberty of huge database and customers
find it more reliable to trade there rather than with an unknown broker. Also
banks like HDFC Bank and ICICI Bank have the advantage of linking the
trading accounts of their customers to saving accounts. This Make trading
easier, and at the same time a trader withdraws exactly as much money from
his account as is needed to complete the trade. Similarly sales proceeds are
credited directly to saving accounts.
OPPORTUNITIES
The external environment analysis may certain new opportunities for profit and
growth.
Ever Increasing market
After the NSE brought the screen based trading system stock markets are now
more secured which has attracted lot of retail investor and the demand is
increasing day by day. This has resulted in improved liquidity and heavy
volumes on transaction. Sharekhan is one of the early entrants here. As to how
much it will roar and how swift it can swoop on the market, the future alone can
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being a mover of stocks. It is also known for putting big deals through and
enjoys good networking with the FIIs. It has been dynamic enough to move
with the times and capture the opportunities that the market throws up from
time to time.
Improving Technology
In country like India technology is always improving which gives the company a
chance to keep on improving their product with time whereas for the small
players like local brokers it will be difficult to keep the same pace as the
changing technology. Also with SEBI lying down some strict guidelines small
brokers are finding it harder to retain the customers with no research
departments and small capital. The traditional business model is highly
dependent on a large network of sub brokers, and many established players
may not have systems (technology, customer service, etc.) capable of directly
servicing so many retail customers.
Unfulfilled needs of the customers
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With so many competitors offering their products in the market but no one is
able to completely satisfy the customers. Some have the problems of lack of
information or some were scared of volatility of the stock markets. Sharekhan
has the opportunity to tap this satisfied set of customers and to make hold in
the market. The Internet serves to break all barriers to information, as it offers
an extremely hassle-free investing platform. And, Sharekhan hopes to fully
utilize and capitalize on this platform. This original idea by Sharekhan itself
was born out of the consumers need for a more transparent, easy to
understand and convenient option of investing in stocks.
Education Level
The education level in the country is improving year after year as far as
technology goes. With that the understanding of the stock market is also
increasing and a lot of retail investors are steeping in the markets which are
being shown by increasing volumes, transportations and indices.
THREATS
New Competitors
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A
lot of new competitors are trying to enter the market in this bullish run to taste
the flavor of this cherry. This is creating a lot of competition for large players
like Sharekhan and it is creating little confusion in the minds of the customers
about the services provided by the broker. Also many banking firms are
entering into the market with huge investment. Competitors like ICICI, Kotak,
HDFC, 5-Paise etc. are posing a lot of threats to the company.
Technology based business
Online trading is totally based on the technology, which is quite complex.
Typically, the technology solution has to start from the Internet front-end (or the
screen that you see when you begin trading). Then it needs to get into the
middle tier of risk management systems that assess data from banks and
depository participants (DP), calculate client risk at that point in time, and give
the GO / No go advice to the trade. So technology is a kind of threat because
until it is working properly it is good bur internet is not that safe. Though a lot
cyber laws are being made but not yet executed.
OBSERVATIONS AND ANALYSIS
DATA ANALYSIS
1. Market share of Sharekhan Securities
TABLE NO. 01
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Company Market Share
ICICI28%
Sharekhan24%
India bulls22%
5 Paisa20%
Others 6%
Graphical Representation: GRAPH - 01
The above data describes the market share of the Sharekhan competitors in
which Sharekhan has the second highest market share among all its
competitors heaving customer base of more then or approximate 8.0 lack.
COMPETITORS BROKERAGE COMPARISION
TABLE NO. 02
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INTRADAY DILIVERY
ICICI 0.50% 0.75%
HDFC 0.40% 0.75%
INDIA BULLS 0.10% 0.50%
SHAREKHAN 0.10% 0.50%
5 PAISA 0.05% 0.40%
Graphical Representation: GRAPH NO. 02
The above is the detail of the companies brokerage in which Sharekhan has
competitive brokerage over other in which there reduction of the brokerage
depending upon the deal between client and the customers.
TABLE NO. 03
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GROWTH RATE OF COMPANY IN %
Year 2004 2005 2006 2007 2008
Customer(In Lakhs)
3.6 4 4.5 5.2 4.8
GRAPH NO. 03
Graphical Representation:
The above data shows the growth rate of the company from 2004 to 2006,
which shows the increase in the growth trend.
TABLE NO. 04
Company Growth (in Per)
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HDFC 4%
5 Paisa 2%
INDIA BULLS 4%
SHAREKHAN 5%
ICICI 6%
GRAPH NO. 04
Graphical Representation:
TABLE NO. 05
Company No. of customers (In lack)
INDIA BULLS 7.4
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ICICI 9.5
HDFC 3
5 PAISA 5.4
SHAREKHAN 8
GRAPH NO. 05
Graphical Representation:
The above graph shows the market share of the customers we are at position
no two having customers base of around 8.0 lakh customers, ICICI having the
maximum and HDFC has the minimum customers.
TABLE NO. 06
CLIENT ACQUISITIONS
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Client Acquisition (Approx.)
Total Data 1900
Calls Made 1300
Responses 700
Appointment Fixed 160
Appointment Confirmed 55
Appointment Converted 32
GRAPH NO. 06
Graphical Representation:
The above graph shows the number of customer (approx.). That has reached
through the marketing tools and technique. Approximately out of 1900 clients
finally 32 were converted.
EXECUTIVE SUMMARY
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The next chapter is devoted to study the comparative analysis of the
competitors and the SWOT analysis, which tells about the Sharekhan edge
over its competitors. This project leads us towards the job descriptions and
difficulties faced by me.
The next part of the project throws light upon my finding and analysis about the
company and the suggestions for the company for better performance.
During this project I have been given the responsibilities of creating customer
bringing HNI customer, handling team, generating leads.
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FINDING AND RECOMMENDATION
FINDINGS
According to the study of the project report and company experience of Four
month the analysis are the following findings.
According to graph one ICICI has the maximum market share and Sharekhan
is at position no.2 Sharekhan has a competitive product feature and services
that makes it possible to reach at this position.
According to graph two SHAREKHAN has brokerage less then ICICI and
HDFC but same as INDIABULLS but more then other competitors. Brokerage
is the main concern for the customer thus company provides some negotiation
flexibility in brokerage charges in terms of brokerage we are better then the
ICICI and HDFC company charges less form the customer for the same
purpose and providing better service.
According to graph 3 which shows the competitors growth in terms of the
customer acquisition form 2004 to 2008 Sharekhan has growth rate of 5% and
ICICI has a maximum growth rate of 6%
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According to graph no 4 which shows the total no of customer Sharekhan has
the second largest customer base with 8 lakhs among its competitors.
According to the graph 5 it shows the practical work done by me. In this I have
made approximate 1900-2100 calls in Four month to the customer and tried to
communicate my product. Out of all these calls I found 1300 numbers correct
and rest are not in use. Near about 700 customers shows interest towards at
least listing to the product out of 700 only 160 customer fixed the appointment
for further process of the account opening with share khan , then out of 160
customers only 55 appointments are confirmed and visited by me. Out of this
total 32 are finally converted and are customer of the company.
Due to high competition the companies provides same product with different
features and service. With this regard share khan is at no one for service
brokerage and follow up.
RECOMMENDATIONS
After heaving an experience of two months in sales of demat account I would
like to suggest the following things.
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Company has an advantage of reach tips for which Sharekhan known for the
customer who are new they need relation ship manger who will tell them about
investment so it should be provided to all the customer on demand this will
lead to customer on demand this will lead to customer satisfaction and will hip
to have more reference from satisfied customer.
The company also have the advantage of broke rage charge it need some
revision so that the customer who are locking for the less brokerage can open
there account in are company taking into consideration the different proposal it
can be reduced for a HNI client.
The company has shown the growth trend and it has reached at no 2 it can
move to no one because it has an advantage of its service. As Sharekhan is
already tie-up with 8 banks for online fund transfer that reduce the paper work
for customers and ease in trading.
The company can increase the customer base if the account opening charges
it reduced from 375 to 200, which will give boost the competition.
The company should revise the advertising strategy to increase its brand
awareness. I suggest marketing making on television so that maximum market
can be targeted.
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CONCLUSION
After studying the project I would like to conclude that:
Company should focus on customer satisfaction at every levels of the
account opening procedure.
Brokerage can be reduced with the attractive proposals for HNI.
Relationship manager should be given on the customer demand.
Company should use the tool of advertising for marketing the brand and
the product.
Reduction in brokerage would attract the customer of India bulls, 5
paisa and other competitions heaving less brokerage then us. It would
increase the market share or client acquisition.
The account opening time should be reduce to maximum 5 days
because customer losses the opportunity of investments.
The company shows the positive trend in growth but it can be increased
more if it focuses on building the brand equity.
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APPENDIX
BIBLIOGRAPHY
Valueline (Sharekhan monthly research Magazine)
Capital Market (5 Paisa.COM), New Delhi
The Finapoils (Your Personal Finance Advisor from Karvy)
Training Kit Provided by the Sharekhan.
INTERNET
www.reliancemoney.com
www.nseindia.com
www.bseindia.com
www.indiabulls.com
www.kotaksecurities.com www.sharekhan.com
www.motilaloswal.com
www.icicidirect.com
www.traderji.com
www.religaresecurities.com
www.demataccount.com
QUESTIONNAIRE
RAKESH
76
http://www.reliancemoney.com/http://www.nseindia.com/http://www.bseindia.com/http://www.newspaperarchive.com/http://www.kotaksecurities.com/http://www.sharekhan.com/http://www.motilaloswal.com/http://www.icicidirect.com/http://www.traderji.com/http://www.religaresecurities.com/http://www.demataccount.com/http://www.reliancemoney.com/http://www.nseindia.com/http://www.bseindia.com/http://www.newspaperarchive.com/http://www.kotaksecurities.com/http://www.sharekhan.com/http://www.motilaloswal.com/http://www.icicidirect.com/http://www.traderji.com/http://www.religaresecurities.com/http://www.demataccount.com/8/2/2019 Supriya Project 1 Unka Hai
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DATE:
NAME:
OCCUPATION:
AGE:
CONTACT NO.:
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) New 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?
RAKESH
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(i)
Yes (ii) No
Q6. Have you heard about Sharekhan?
(i) Yes (ii) No
Q7. Which Brokerage Firm do you prefer for Online Trading?
(i) ICICI Direct (ii) Sharekhan (iii) India bulls
(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
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)
RAKESH
78
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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.
4. 5.
Q14. What additional features do you wish to have in Online Share
Trading?
a. Sharekhan
b. ICICI Direct
c. India Bulls
d. Kotak Securities
e. Others (Specify)