36661421 26802297-angel-broking-final-project-report-1

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Sheela Devi Institute of
Management & Technology
A
Summer Internship Project Report
on
Comparative Analysis of services provided by Angel
Broking Ltd. and other Broking Houses in Pune.
(With special reference to Angel Broking Limited, Pune.)
Submitted by:
ANKIT ROHILLA
Batch 2009-11
Branch Head Faculty Guide
Angel Broking Ltd., Satara Road Pune ( )

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CERTIFICATE
This is to certify that the project titled “study on Share Trading in
Angel Broking .” Is a bonafied work carried out by Mr. ANKIT
ROHILLA in partial fulfillment of the requirement for the award
of the degree of Master of Business Administration from SDIMT,
M.D University under the guidance and direction.
Internal Guide:

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Acknowledgement
It is almost inevitable to incur indebtedness to all who generously helped by
sharing their invaluable time and rich experience with me, without which this
project would have never been accomplished.
No task can be achieved alone, particularly while attempting to finish a
project of such magnitude. It took many very special people to facilitate it and
support it. Hence, I would like to acknowledge all of their valuable support and
convey my humble gratitude to them.
First of all I thank the Indian marketers and advertisers who have without
fail produced, Surrogate Ads which we so often debate about. At least they gave
me a topic to work on and even realize the issue of surrogate ads which I did not
notice till now.
I would like to acknowledge my sincere gratitude to Mr.rajnish bangia
(Branch Manager, Angel Broking Ltd. faridabad Branch) for sharing his valuable
ideas, constructive criticism and motivation, which were the guiding, light during
the entire tenure of this work.
Thank you all for supporting me in making this projects a reality.
Ankit Rohilla

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DECLARATION
I, ANKIT ROHILLA do hereby declare that the project report
titled “study on Share Trading in Angel Broking” is a genuine
research work undertaken by me and it has not been published
anywhere earlier.
Date:
Place:
ANKIT ROHILLA

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Preface
Share trading in India is undergoing a transition and consolidation phase
witnessed never before. The competition is likely to become so severe after the
entry of many players, retaining a customer is most difficult practice for any
service provider.
Though India has a very big untapped market but the players will not flourish
unless they change the way the customers are being served. Given the awareness
level of today customers every player has to treat with care and make the
customer feel that he is the king. Number of Online Share trader in India has
crossed the line. More and more customers are coming under this umbrella and
many of the existing one are changing pavilion. So customer retention and
satisfaction is now more important as it was never before. Players keep coming
with new schemes in order to attract new customers and retain the existing one.
This is being supplemented with increased advertising and brand building efforts.
Success of any organization depends upon its being proactive. An often quoted
marketing adage is to manage a business well is to manage its future and to
manage its future is to manage information.”
To give the student of management a feel of real world situation they are
being sent to any organization where they work on a prescribed problem or a
topic and come out with various conclusions and suggestions.

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I am very lucky as I got an opportunity to work with “angel broking” LTD.
which is showing phenomenal growth and success in its Sector.
My topic of study was “Studying the working process of
angel broking LTD.”
This project is an effort to do a depth study and analysis of various known
and unknown reasons for customer satisfaction and retention. “To err is human”
and I am not an exception, valuable comments are always welcomed since it will
motivate to work with greater zeal and efficiency in the future.

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Executive Summary
The summer internship at “Angel Broking” undertaken by us has given us an exposure into
the investment scenario in India. The project that we were involved with while working at
“Angel Broking” includes advisory services i.e. educating the existing and potential investors
about stock market as an alternative source to investment. This involves catering to the queries
of the investors about the concept of stock market, the various options that an investor can
invest his money into, funds management of investors.
Analyzing the investors‘ behavior includes understanding the concerns a person has
towards Stock Market, his stages in life and wealth cycle, the effect of the investments made
by the peer groups, effect of the profession he/she is in, education qualification, importance of
tax benefits, the most preferred saving tool etc. and this all is analyzed with the help of a
schedule prepared.
Through the systematic investment plan invest a specific amount for a continuous period,
at regular intervals. By doing this, the investor get the advantage of rupee cost averaging
which means that by investing the same amount at regular intervals, the average cost per unit
remains lower than the average market price.

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CONTENTS
S.NO. TOPIC NAME PAGE NO.
1. INDUSTRY OVDERVIEW :
 A Brief History of stock exchange
 Online Trading process.
7
7
9
2. COMPANY PROFILE :
 Introduction and history
 Introduction to Angel Broking
 About the Angel Broking
 Management team
 Milestones
 Angel Logo’s
 Organizational Structure
 Products of Angel Broking
 Investment Advisory Services
 Commodity
 Department Study
 Brokerage
 Other features
 SW0T Analysis
 Procedure of client acquisition
11
11
12
12
14
14
15
19
19
21
21
23
34
37
38
39

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3. COMPETITOR’S ANALYSIS :
 ICICI Direct.com
 Indiabulls.com
 Competitor’s Comparison
44
44
49
53
4. RESEARCH METHODOLOGY :
 Objectives of study
 Research methodology
 Data sources
 Significance of the study
 Managerial usefulness of the study
 Limitations of the project
 Scope of the study
56
56
56
57
57
58
59
60
5. FINDING, CONCLUSION AND
RECOMMENDATION :
 Conclusion
 Recommendation
 Finding
61
62
64
64
6. BIBLIOGRAPHY 79

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CHAPTER -1
INDUSTRY OVERVIEW
A BRIEF HISTORY OF STOCK EXCHANGES :-
Do you know that the world's foremost market
place ―New York Stock Exchange‖ (NYSE), started its
trading under a tree (now known as 68 Wall Street) over
200 years ago? Similarly, India's premier stock exchange
Bombay Stock Exchange (BSE) can also trace back its
origin to as far as 125 years when it started as a voluntary
non-profit making association.
You hear about it any time it reaches a new high or
a new low, and you also hear about it daily in statements
like 'The BSE Sensitive Index rose 5% today'. Obviously,
stocks and stock markets are important. Stocks of public limited companies are bought and
sold at a stock exchange. But what really are stock exchanges? Known also as News on the
stock market appears in different media every day. The stock market or bourse, a stock
exchange is an organized market place for securities (like stocks, bonds, options) featured by
the centralization of supply and demand for the transaction of orders by member brokers, for
institutional and individual investors. The exchange makes buying and selling easy. For
example, you don't have to actually go to a stock exchange, say, BSE - you can contact a
broker, who does business with the BSE, and he or she will buy or sell your stock on your
behalf. All stock exchanges perform similar functions with respect to the listing, trading, and
clearing of securities, differing only in their administrative machinery for handling these
functions. Most stock exchanges are auction markets, in which prices are determined by

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competitive bidding. Trading may occur on a continuous auction basis, may involve brokers
buying from and selling to dealers.
In certain types of stock or it may be conducted through specialists dealing in a
particular stock.
But where did it all start? The need for stock exchanges developed out of early trading
activities in agricultural and other commodities. During the middle Ages, traders found it
easier to use credit that required supporting documentation of drafts, notes and bills of
exchange. The history of the earliest stock exchange, the French stock exchange, may be
traced back to 12th century when transactions occurred in commercial bills of exchange.
The first stock exchange in India, Bombay Stock Exchange was established in 1875 as
'The Native Share and Stockbrokers Association' and has evolved over the years into its
present status as the premier stock exchange in the country. It may be noted that BSE is the
oldest stock exchange in Asia, even older than the Tokyo Stock Exchange, which was founded
in 1878. The country's second stock exchange was established in Ahmedabad in 1894,
followed by the Calcutta Stock Exchange (CSE). CSE can also trace its origin back to 19th
century. From a get together under a 'Neem Tree' way back in the 1830s, the CSE was
formally established in May 1908.
India's other major stock exchange National Stock Exchange (NSE), promoted by leading
financial institutions, was established in April 1993. Over the years, several stock exchanges
have been established in the major cities of India. There are now 23 recognized stock
exchanges — Mumbai (BSE, NSE and OTC), Calcutta, Delhi, Chennai, Ahmedabad,
Bangalore, Bhubaneswar, Coimbatore, Guwahati, Hyderabad, Jaipur, Kochi, Kanpur,
Ludhiana, Mangalore, Patna, Pune, Rajkot, Vadodara, Indore and Meerut. Today, most of the
global stock exchanges have become highly efficient, computerized organizations.
Computerized networks also made it possible to connect to each other and have fostered the
growth of an open, global securities market.
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.

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Online Trading is a service offered on the Internet for purchase and sale of shares. In the
real world, you place orders on your stockbroker either verbally (personally or telephonically)
or in a written form (fax). In Online Trading, you will access a stockbroker's website through
your internet-enabled PC and place orders through the broker's internet-based trading engine.
These orders are routed to the Stock Exchange without manual intervention and executed
thereon in a matter of a few seconds.
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. Indiainfoline.com,
ICICIDirect.Com, IndiaBulls.Com, AngelBroking.com, Angel broking.Com,
HDFCSecurities.Com is some of the online broking sites in India.
ONLINE TRADING PROCESS :-
The various transactions involved in online trading can be shown from the point of view of the
 Client
 Broker
 Stock Exchange.

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Online trading process

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CHAPTER-2
COMPANY PROFILE
INTRODUCTION AND HISTORY :-
“Angel Broking” is the retail broking arm of SSKI, an organization with more than
eight decades of trust & credibility in the stock market. It is India's leading retail financial
Services Company with We have over 250 share shops across 115 cities in India. While our
size and strong balance sheet allow us to provide you with varied products and services at very
attractive prices, our over 750 Client Relationship Managers are dedicated to serving your
unique needs. Angel Broking is lead by a highly regarded management team that has invested
crores of rupees into a world class Infrastructure that provides our clients with real-time
service & 24/7 access to all information and products. Our flagship Angel Broking
Professional Network offers real-time prices, detailed data and news, intelligent analytics, and
electronic trading capabilities, right at your fingertips. This powerful technology
complemented by our knowledgeable and customer focused Relationship Managers. We are
creating a world of Smart Investor. Angel Broking offers a full range of financial services and
products ranging from Equities to Derivatives enhance your wealth and hence, achieve your
financial goals. Angel Broking' Client Relationship Managers are available to you to help with
your financial planning and investment needs. To provide the highest possible quality of
service, Angel Broking provides full access to all our products and services through multi-
channels.

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INTRODUCTION TO ANGEL
In a shot span of 22 years since inception, the Angel Group has emerged as one of the top
five retail stock broking houses in India, having membership of BSE, NSE and the two leading
Commodity Exchanges in the country i.e. NCDEX & MCX. Angel Broking is also registered
as a Depository Participant with CDSL.
The group is promoted by Mr. Dinesh Thakkar, who started this business as a sub-broker
in 1987 with a team of 3. Today the angel group is managed by a team of 1937 direct
employees and has a nationwide network comprising of 21 Regional hubs, 124 branches and
6810 sub brokers & business associates. Angel is 100% focused on retail stock broking
business unlike any other larger national broking house. The group currently services more
than 5.9 thousand retail clients.
Angel habitually generates value added features without the cost burden being passed on
to the clients as they strongly believe that better understanding of client‘s needs and wants is
their top priority. Their e-broking facility is one such effort, which gives the client a platform
to access state of the art trading facility at the click of a button.
Angel has always strived for delivering customer delight and developing strong long term
bonds with its clients as well as channel partners. Angel thrives on a vision to introduce new
and innovative products and services constantly. Moreover, Angel has been among the
pioneers to introduce the latest technological innovations and integrate them efficiently within
its business.
About the Angel
Angel Booking‘s tryst with excellence in customer relations began more than 20 years
ago. Angel Group has emerged as one of the top 3 retail broking houses in India and
incorporated in 1987. Today, Angel has emerged as a premium Indian stock-broking and
wealth management house, with an absolute focus on retail business and a commitment to
provide "Real Value for Money" to all its clients.

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It has memberships on BSE, NSE and the leading commodity exchanges in India NCDEX
& MCX. Angel is also registered as a depository participant with CDSL.
Angel Group Companies
Angel Broking Ltd.
Member on the BSE and Depository Participant with
CDSL
Angel Capital & Debt Market
Ltd.
Membership on the NSE Cash and Futures & Options
Segment
Angel Commodities Broking Ltd. Member on the NCDEX & MCX
Angel Securities Ltd. Member on the BSE
 Incorporated :1997
 BSE Membership :1997
 NSE membership :1998
 Member of NCDEX and MCX
 Depository Participants with CDSL
Angel’s presence :-
 Nation- wide network of 21 regional hubs
 Presence 124 cities
 6800 + sub brokers & business associates
 5.9 lakh + clients

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Management
S.No Name Designation & Department
1. Mr. Dinesh Thakkar : Founder Chairman & Managing Director
2. Mr. Lalit Thakkar : Director – Research
3. Mr. Amit Majumdar : Executive Director – Strategy and Finance
4. Mr. Rajiv Phadke : Executive Director – HR & Corp
5. Mr. Vinay Agrawal : Executive Director – Equity Broking
6. Mr. Nikhil Daxini : Executive Director - Sales and Marketing
7 Mr. Hitungshu Debnath :
Executive Director - Distribution & Wealth
Management
8. Mr. Mudit Kulshreshtha : Executive Director – Operations
Milestones
 Awarded with 'Broking House with Largest Distribution Network' and 'Best Retail
Broking House' at Dun & Bred street Equity Broking Awards 2009
 August, 2008 Crossed 500000 trading accounts
● November, 2007 ‗Major Volume Driver‘ for 2007
● December, 2006 Created 2500 business associates
● October, 2006 ‗Major Volume Driver‘ award for 2006
● September, 2006 Launched Mutual Fund and IPO business
● July, 2006 Launched the PMS function
● October, 2005 ‗Major Volume Driver‘ award for 2005
● September, 2004 Launched Online Trading Platform
● April, 2004 Initiated Commodities Broking division
● April, 2003 First published research report
● November, 2002 Angel‘s first investor seminar
● March, 2002 Developed web-enabled back office software
● November, 1998 Angel Capital and Debt Market Ltd. Incorporated
● December, 1997 Angel Broking Ltd. Incorporated

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ANGEL’S BUSINESS PHILOSOPHY

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OUR ORGANIZATIONAL STRUCTURE
Products of Angel Broking
1. Online Trading 8. Personal loans
2. Commodities 9. Quality assurance
3. DP Services
4. PMS (Portfolio Management Services)
5. Insurance
6. IPO Advisory
7. Mutual Fund
CSO (Central
Support
Office)
Regional Office
Branches &
Franchise
Branches
Angel Clients
Branches &
Franchise
Branches
Business
Associates
Angel Clients
Branches &
Franchise
Branches
Regional Office Regional Office

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Online- Trading
Specially designed for the net savvy traders and investors who prefer operating
from their home or office through the internet. The investor can access state of the art
Technology with three different e-broking products and voila trading on BSE, NSE, F &
O, MCX and NCDEX.
ANGEL DIET
 Application based product for Traders.
 Application based ideal for traders.
 Multiple exchanges on single screen
 Online fund transfer facility
 User friendly & simple navigation
 BSC, NSC, F&O, MCX & NCDEX
ANGEL ANYWHERE
 Application based product for Traders with Charts.
 Application-based platform for day traders
 Intra-day/historical charts with various indicators
 BSC, NSC, Cash & Derivatives
ANGELTRADE
 Browser based product for Active Investors.
 Browser based for investor
 No installation required
 Advantage of mobility
 Trading as simple as internet surfing
 BSC, NSC, F&O, MCX & NCDEX

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ANGEL INVESTOR
 User-friendly browser for investors
 Easy online trading platform
 Works in proxy and firewall system set up
 Integrated Back office: Access account information – anytime, anywhere
 Streaming quotes
 Refresh static rates when required
 Multiple exchanges on single screen
Investment Advisory Services
To derive optimum returns from equity as an asset class requires professional guidance
and advice. Professional assistance will always be beneficial in wealth creation. Investment
decisions without expert advice would be like treating ailment without the help of a doctor.
● Expert Advice: Their expert investment advisors are based at various branches across
India to provide assistance in designing and monitoring portfolios.
● Timely Entry & Exit: Their advisors will regularly monitor customers‘ investments and
guide customers to book timely profits. They will also guide them in adopting switching
techniques from one stock to another during various market conditions.
● De-Risking Portfolio: A diversified portfolio of stocks is always better than concentration
in a single stock. Based on their research, They diversify the portfolio in growth oriented
sectors and stocks to minimize the risk and optimize the returns.
Commodities
A commodity is a basic good representing a monetary value. Commodities are most often
used as inputs in the production of other goods or services. With the advent of new online

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exchange, commodities can now be traded in futures markets. When they are traded on an
exchange, Commodities must also meet specified minimum standards known as basic grade.
Types of Commodities
● Precious Metals : Gold and Silver
● Base Metals : Copper, Zinc , Steel and Aluminum
● Energy : Crude Oil, Brent Crude and Natural Gas
● Pulses : Chana , Urad and Tur
● Spices : Black Pepper, Jeera, Turmeric , Red Chili
● Others : Guar Complex, Soy Complex, Wheat and Sugar
Benefits at Angel
● Three different online products tailored for traders & investors.
● Single Screen customized market-watch for MCX / NCDEX with BSE / NSE.
● Streaming Quotes and real time Rates. Intra-day trading calls.
● Research on 25 Agro Commodities, Precious and Base Metals, Energy products and
Polymers.
● An array of daily, weekly and special research reports.
● Highly skilled analysts with professional industry experience.
● Active relationship management desk.
● Seminars, workshops and investment camps for investors
Depositary Participant Services
Angel Broking Ltd. is a DP services provider though CDSL. We offer depository services
to create a seamless transaction platform to execute trades through Angel group of companies
and settle these transactions through Angel Depository services.
● Wide branch coverage
● Personalized/attentive services of trained a dedicated staff

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● Centralized billing & accounting
● Acceptance & execution of instruction on fax
● Daily statement of transaction & holdings statement on e-mail
● No charges for extra transaction statement & holdings statement
Portfolio Management Services
Successful investing in Capital Markets demands ever more time and expertise.
Investment Management is an art and a science in itself. Portfolio Management Services
(PMS) is one such service that is fast gaining eminence as an investment avenue of choice for
High Net worth Investors (HNI). PMS is a sophisticated investment vehicle that offers a range
of specialized investment strategies to capitalize on opportunities in the market. The Portfolio
Management Service combined with competent fund management, dedicated research and
technology, ensures a rewarding experience for its clients.
Angel PMS brings with it years of experience, expertise, research and the backing of
India's leading stock broking house. At Angel, experienced portfolio management is the
difference. It will advise you on a suitable product based on factors such as your investment
horizon, return expectations and risk tolerance.
DEPARTMENT STUDY
PRODUCT & SERVICE DETAILS AND PORTFOLIO
 REPORTS :
 Market Outlook at 9:15 a.m.
 Technical Report at 6:00 p.m.
 Derivative Analysis Report at 9:15 a.m.

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 FUNDAMENTAL RESEARCH SERVICES:
 The Sunday Weekly Report :
This weekly report is the ace of all reports. It offers a comprehensive market
overview and likely trends in the week ahead. It also presents few top picks based on
an in-depth analysis of technical and fundamental factors. It gives short term and long
term outlook on these scrip‘s, their price targets and trading strategies. Another unique
feature of this report is that it provides an updated view of about 70 prominent stocks
on an ongoing basis.
 The Industry Watch :
This report provides an in-depth analysis of specific industries which are likely
to outperform others in the economy. It analyzes their strengths and weaknesses and
ascertains their future outlook. The final view is arrived at after thorough interaction
with industry experts. Also comparative performances of various companies in the
sector are evaluated and top picks are recommended.
 Stock Analysis :
Angel‘s stock research has performed very well over the past few years and the
Angel Model Portfolio has consistently outperformed the benchmark indices. The
fundamentals of select scrip are thoroughly analyzed and an actionable advice is
provided along with investment rationale for each scrip.
 Flash News :
Key developments and significant news announcements that are likely to have
an impact on markets / scrip are flashed live on trading terminals. Flash news keeps
the market participants updated on an online basis and helps them to reshuffle on their
holdings.

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 TECHNICAL RESEARCH SERVICE :
 Nifty Tracker :
Nifty Futures is the most traded instrument with highest volumes in F & O and
excellent liquidity. The team tracks the Nifty Future and generates calls based on
unique trading system which is a result of their focused research over the past few
years. The objective is to generate positive returns for traders who are looking for a
high risk / high reward product.
 Online Chart :
An online forum to help clients, specifically day traders in judging the
directions of the market and stocks which are in the limelight.
 Intraday Calls :
For day traders, Angel provides intra-day calls with entry, exit and stop loss
levels during market hours. These calls are flashed on their terminals. Their analysts
continuously track the calls and provide recommendations according to the market
movements.
 Position Calls :
Angel‘s ―Position Trading Calls‖ are based on thorough analysis of the price
movement in select scrip‘s. These calls are for a 10-15 day time span with stop loss
and target levels. These calls are flashed on their terminals during market hours.
 Derivative Strategies :
Their analysts take view on the Nifty and select stocks based on the derivatives
data and technical tools. Suitable ―Derivative Strategies‖ are devised, which are
flashed on their terminals and published in their reports.

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 Futures Calls :
A customized product for HNIs to help them trade with leveraged position;
wherein clients are advised on the stocks with entry, exit and stop loss level for short
term benefits. Over and above this, financial status of the calls is monitored at all
times.
 INVESTMENT ADVISORY DESK:
At Angel, they have a dedicated Investment Advisory Desk :-
 To help manage client‘s equity portfolio and create wealth
 To help client understand their risk profile and define investment goals realistically
 To minimize client‘s risk and maximize their returns
 To help client decide what to buy / sell and when to buy / sell
 To help client‘s understand macro-economic trends and sectoral / company
developments
 To help client restructure their portfolio based on sound research
 PORTFOLIO MANAGEMENT SERVICES :
Angel offers discretionary PMS to investors in order to assist them in managing
their funds amidst continuous changing market dynamics and increasing complexities of
investing. Investing in equity market requires in-depth knowledge and thorough analysis
coupled with clear understanding of domestic and international economies. Investors need
the services of an expert to manage their funds and deliver good returns in diverse market
conditions. Continuous wealth creation with and emphasis on capital preservation is
essential in today‘s complex markets.
In order to systematically diversify the holdings of clients across varied sectors and
with and intention to give them handsome returns, Angel devised the concept of the Model
Portfolio :-

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 Angel came out with its first Model Portfolio in August 2002
 Since then it has come out with Model Portfolios which have consistently
outperformed the Sensex YOY
 In fact the latest model portfolio by Angel has successfully outperformed the
Sensex by a whopping 80%
Angel‘s Portfolio Advisory Team had a successful track record of assisting its clients in
managing their portfolios for over 4 years.
The Portfolio Management Process starts with understanding each investor‘s risk appetite
and return expectations. The Portfolio Management Team not only draws support from
Angel‘s in-house research team for new investment ideas but also has its own stocks picking
by adopting bottom up research.
Salient features of PMS schemes are 100% discretionary, time horizon 12-18 months and
Wealth creation at minimum risk.
 PMS SCHEMES @ ANGEL
Scheme 1: Angel OYSTER
Description :
The main objective of the scheme is wealth generation by delivering superior returns over
long term through investments and equity related instruments.
Investment Strategy :
 To generate wealth on consistent basis rather than outperform by taking higher risk.
 Logic works well and thus will be given weight age along with financials
 Early identification of stocks to ride through the entire investment cycle
 Timing of investment is important to generate superior returns
 Bottom –up approach

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Parameters Driving Investment Decision :
 Blend of growth and value stocks
 Investments in companies regardless of market capitalizations
 Keen selection of stocks based on potential for value unlocking based on key events
 Focus on companies which display
 Scalable business potential
 Large market opportunity
 Beneficiary of favorable economic cycle
 Valuation at steep discount to asset value
Sectoral Composition :
 May include under- researched companies
 Portfolio could invested in liquid funds
Investor Profile :
 Safety of capital will be of utmost importance
 The scheme would be suited for investors having medium to long term perspective (i.e.
12-18 months)
Scheme 2: Angel BLUE- CHIP
Description :
The objective of the scheme is to generate capital appreciations in the medium to long
term through investments in equities and equity related instruments comprising predominantly
large cap companies.

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Investment Strategy :
 The scheme will seek to achieve returns through brand based participants in equity
markets by creating a diversified equity portfolio. The portfolio will be overweight on
large cap companies.
 The portfolio strives at all time to achieve an 80% allocation to large cap companies.
 The allocation of sectors and stocks in the portfolio may be dynamically structured in
tune with changes in broader market conditions
 Overweight on large cap stock. However quality mid cap stocks may also be
considered for investment.
 Portfolio to comprise of a combination of growth & value stocks.
 The portfolio strives to limit the exposure to any sector to less than 25% of the
portfolio size
 The portfolio strives to limit the exposure to any stock to less than 10% of the
portfolio size
 The allocation and composition of medium capitalized stocks to vary based market
conditions
Investor Profile :
 The scheme would be suited for investors with low to moderate risk appetite
 The scheme would be suited for investors having medium to long term perspective.
Benefits of Angel PMS :
 Understanding risk : At Angel, utmost emphasis is given to understanding the risk
profile of an investor.
 Periodic Evaluation : Periodic evaluation of the Model Portfolio is carried out and
market movements are cashed upon.

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 Administrative Convenience : Angel focuses on providing hassle free administrative /
operational support and customized services.
 Transparency : Regular statements and updates as well as online access to information
required for investment.
 Regular Analysis and Monitoring : Investments undergo regular monitoring and
analysis to check any deviation from the structured goal ensuring creation of wealth
over a period of time.
 Professional Management : PMS is provided to professional management by experts
on equity with an aim to optimize returns.
Angel PMS – Ideal For :
Portfolio Management Services from Angel are essential for investor who needed
 Long term wealth generation
 Personalized service
 Investment opportunities in Indian equities
 Fundamental research based investment decisions
In essence, all investor who have faith and belief in the Indian growth story and robust
corporate performance would find Angel PMS most suitable to meet their objectives.
 ANGEL GOLD :
In a volatile market it is very difficult for an investor to pick up value stocks which
will give decent returns in the long run. We at Angel Gold realize your need for a professional
financial advisor and hence are here to assist you in making wise and profitable decisions.
We strongly believe that right decisions taken at the right time are always beneficial
and that's why our entire research team comprising of 12 sector specialists along with our

34 | P a g e
research head will understand your need, return expectation, risk profile and time horizon to
design your portfolio accordingly. This portfolio will be tracked regularly and our efforts
would be to optimize your returns in the long run.
Features of the Angel Gold :
 A premium service for clients who need professional guidance on long term investments.
 Minimum fund / portfolio of Rs. 1 lakh and maximum of Rs. 4 lakh eligible for Angel
Gold.
 Appropriate risk profiling before taking investment decisions
 Periodic group meetings and seminars in branches.
 Monthly Newsletter from the desk of ―Angel Gold‖ .
 Browser based back-office software.
 COMMODITIES SERVICES :
 Agro Tech Speak :
Mainly gives the investors insight into and a forecast for agro commodities viz.
pulses (urad, channa etc); reports on oil complex (soybeans castor etc.) along with
spices with reports on kapas guar seed.
 Call Evaluation :
A report designed for evaluating the calls given by the angel research team
where the reports are classified in 3 broad categories viz. achieved, triumph, not
achieved along with the trade recommendations.

35 | P a g e
 Commodities Tech Speak :
This report mainly equips the investors dealing in MCX segment in
commodities like gold, silver, crude oil, copper etc with the market insight and expert
recommendation on the trading strategies
 Angel Commodity Advantages :
 Top Quality Research :
o Professionally qualified analysts with rich industry experience
o Research on 25 agro commodities, precious metals, base metals, energy
products and polymers
 E-Broking :
o Single screen customized market watch for MCX / NCDEX with BSE / NSE
o Streaming quotes and intraday calls
 DP Facilities in Commodities Trading on CDSL
 24x7 Online Back-office
 Efficient Risk Management
 Competitive Brokerage Rates
 MUTUAL FUND DISTRIBUTION AND ADVISORY :
To enable clients to diversify their investment in the right direction, Angel Broking has
added another product in its range with mutual funds :
 Customized investment solutions based on specific individual‘s financial goals aligned
with client‘s risk appetite.

36 | P a g e
 Access to in-depth research and proper selection from diversified funds based on
client‘s preferred criteria.
 Customized reports at desired frequency.
 Rating and Rankings of all Mutual Funds from in-house expert analysts.
 Current and historical performance of different funds enabling comparisons.
 News and alerts for client‘s Mutual Fund Portfolio and performance tracking with
watch lists.
 Online Mutual Funds applications (NFO or existing) / Online order status tracking /
online updating of unit holdings at latest NAV / Online dividend payout and re-
investment facility.
 Single point customer query handling.
 IPO DISTRIBUTION AND ADVISORY :
 Wide network of branches for better customer reach.
 Dedicated Research Teams generating sector related reports.
 Ease in investing with informed decision making.
 Advisory Help Desk for all IPO related queries.
 DEPOSITORY PARTICIPANT SERVICE :
Angel Broking Ltd. is a DP Service provider through CDSL. They offer
Depository Services to create a seamless transaction platform to execute trades through
Angel Group of Companies and settle these transactions through Angel Depository
Services.
 Hassle free automated pay-in of client‘s sell obligations by Angel Broking Ltd. / Angel
Capital & Debt Market Ltd.

37 | P a g e
 Instant disbursement of non-cash benefit like bonus and rights
 Wide Branch coverage
 Personalized / Attentive services of trained and dedicated staff
 Centralized billing and Accounting
 Acceptance and Execution of instructions on ―fax‖
 ―Zero‖ upfront payment and lowest transaction charges
 Daily statement of transactions and holding statements on e-mail
 No charges for extra transaction statement and holding statement
BROKERAGE
Following schemes are available for trading Account :
Prepaid Scheme A Rs 2000/- per Annum
Scheme Type A
Table A Table B
Brokerage Rate
(for AMC Scheme Account)
Brokerage Rate
(for non AMC Scheme Account)
AMC AMC Rs. 2,000 pa Nil
Account opening
Charges (one time)
 Speed Trade A/c Rs.
1,000
 Classic Account Rs. 750
 Offline Account
 Speed Trade Account Rs.
1,000
 Classic Account Rs. 750
 Offline Account
Percentage Min. Paisa Percentage Min. Paisa
Cash Segment
Trading
First Leg 0.07% 05p 0.10% 10
Second Leg 0.07% 05p 0.10% 10
Delivery
Delivery Brokerage 0.40% 10p 0.50% 50

38 | P a g e
Other charges Cash segment (Trading and Delivery)
Stamp Duty Y Y Y Y
Turnover Tax Y Y Y Y
Service tax Y Y Y Y
Default Brokerage  
Futures & Options Segment
First Leg 0.07% 01p 0.10% 10
Second Leg (same day) 0.02% 01p 0.0% 00
Next day 0.07% 01p 0.10% 10
Other charges F&O Segment
Stamp Duty Y Y Y Y
Service tax Y Y Y Y
Prepaid Scheme Rs 6000/- per Annum
Scheme Type B
Table A Table B
Brokerage Rate
(for AMC Scheme Account)
Brokerage Rate
(for non AMC Scheme Account)
AMC  AMC Rs. 6,000 pa Nil
Account opening
Charges (one time)
 Speed Trade A/c Rs.
1,000
 Classic Account Rs. 750
 Offline Account
 SpeedTrade Account Rs. 1,000
 Classic Account Rs. 750
 Offline Account

39 | P a g e
Percentage Min. Paisa Percentage Min. Paisa
Cash Segment
Trading
First Leg 0.05% 05p 0.10% 10
Second Leg 0.05% 05p 0.10% 10
Delivery
Delivery Brokerage 0.25% 10p 0.50% 50
Other charges Cash segment (Trading and Delivery)
Stamp Duty Y Y Y Y
Service tax Y Y Y Y
Futures & Options Segment
First Leg 0.05% 01p 0.10% 10
Second Leg (same day) 0.02% 01p 0.0% 0
Next day 0.05% 01p 0.10% 10
Other charges F&O Segment
Stamp Duty Y Y Y Y
Service tax Y Y Y Y
Along with these above schemes many other competitive schemes are available for
customers depending on their volume of trading.

40 | P a g e
OTHER FEATURES :-
1. Angel Broking First step Program :-
What is:-
In the complex world of investing in shares in India, interested beginners didn't
have any place they could start out from. This is why Angel Broking started the First
Step program - to assist and guide new investors when they take their first steps into
the world of investing in shares. This program is explicitly designed for beginners.
You will not feel unintelligent when asking questions like "Who owns the Stock
Market?" or "What is a stock-split?" since Angel Broking people are trained to assist
those taking their first step in the market.
Consist of:-
The Angel Broking First Step program is a special, never-been-done-before
program created by Angel Broking for new investors to the stock market. Despite
being a beginner with a small amount to invest, they will still be able to benefit from
Angel Broking experience, technology-based tools and research. In fact, Angel
Broking have created special versions of all of these for clients - clear and simple
information tools for there understanding, demonstrations to help them get started and
research re-written in easier language. See how Angel Broking friendly assistance
empowers them to become a 'Stock Market ka Sher'.
2. Angel Broking Value line :-
A monthly investment report based on fundamental research with Stock ideas,
Stock Updates, Earning Guide, Stock Recos, Mutual Fund Guide , Market Outlook, Sector
Updates.

41 | P a g e
SWOT Analysis :-
A SWOT analysis focuses on the internal and external environments, examining
strengths and weaknesses in the internal environment and opportunities and threats in the
external environment.
STRENGTH
 Service
 Distribution network
 Marketing
 Products
WEAKNESS
 Customer Satisfaction
 Branding
 Competition from Banks
OPPORTUNITIES
 Ever increasing market
 Improving technology
 Unfulfilled needs of
customers.
 Education level
THREATS
 New competitors
 Technology based
business

42 | P a g e
PROCEDURE OF CLIENT ACQUISITION :-
 In the first phase we are given training and we are explained about different things of
market about Angel Broking Ltd, its introduction, products and services offered by
Angel Broking Ltd. We have been trained by their well experienced Staff.
 After that we are trained to cope up with the customers, through there well experienced
Sales Executives.
 They provide us leads and we make calls. Three types of leads are provided to us :-
 People who registers themselves on Angel Broking website willing to be client of
Angel broking and want to know about its product.
 People who have Demat account already with any another broker. (competitors
Data)
 People who are totally unknown to this market.
 Then after that we have to provide details of product and convince them. People who
have already demat account; we have to convince them by giving information about
Angel Broking services & benefits.
 And people who are unknown to share market, we tell them about Angel Broking
first step program for fresher.
 Then we have to visit them and get the formed filled from them.
 We collect all-important documents from client.
PROCEDURE FOR OPENING A DP ACCOUNT WITH ANGEL BROKING :-
 You can open a Depository Participant (DP) account, either through an Angel Broking
branch or through an Angel Broking Franchisee center.
 There is no fee for opening DP accounts with Angel Broking. However a nominal
deposit (refundable) is charged towards services which will be adjusted against all
future billings.
 All investors have to submit their proof of identity and proof of address along with the
prescribed account opening form.

43 | P a g e
IN DP ACCOUNT OPENING FORM :-
1. Minor details like name of the branch, name of the client & address and other details of
the client required to be mentioned in the form and Agreement.
2. Signatures are required on all pages of the agreement.
3. All the details (Name & address of the client) must be filled.
4. Name, Address & signature of the witness are compulsory. (Please note that 1 witness
is required to sign on behalf of the client)
5. Please note that if the signature on the form & the proof provided differs, the form will
be liable for rejection. In such cases the client has to get his signatures verified by the
banker.
6. Nominee details must be supported by 2 witnesses (Name, Address & signature).
7. Minor accounts, HUF accounts, Corporate accounts, and Accounts having 3 holders
cannot have nominees in a DP account.
8. Please note that joint accounts cannot be opened in case Minor accounts and HUF
accounts.
9. In case of any corrections on the application form & agreement holders have to counter
sign at place of the correction.
ACCOUNT OPENING REQUIREMENTS UNDER VARIOUS HEADS :-
(i) Proof of Identity (Any one of the following) :-
1. Photocopy of Valid Passport (Page containing the date of expiry also to be attached)
2. Photocopy of Voters Identity card.
3. Photocopy of Valid Driving License (Page containing the date of expiry also to be
attached).
4. Photocopy of Pan card
5. Photocopy of MAPIN card
6. Identity card/document with applicant‘s Photo, issued by

44 | P a g e
a) Central/State Government and its Departments,
b) Statutory/Regulatory Authorities,
c) Public Sector Undertakings,
d) Scheduled Commercial Banks,
e) Public Financial Institutions,
f) Professional Bodies such as ICAI, ICWAI, ICSI, Bar Council etc., to their Members;
and
g) Credit cards/Debit cards issued by Banks.
(ii) Proof of Address (Any one of the following) - (Provided the entire address written
on the form matches with the proof):-
1. Photocopy of Ration card.
2. Photocopy of Valid Passport (Page containing the date of expiry also to be attached).
(Copy of expiry date also to be submitted)
4. Photocopy of Valid Driving License (Page containing the date of expiry also to be
attached). (Copy of expiry date also to be submitted)
5. Photocopy of Telephone or Electricity bill. (Government entity only & should not be
more than 3 months old)
6. Photocopy of Leave-License / Purchase Agreement.
8. Photocopy of Bank Passbook or latest Bank statement.
9. Self-declaration by High Court & Supreme Court judges, giving the new address in
respect of their own accounts.
10. Identity card/document with address, issued by
a) Central/State Government and its Departments,
b) Statutory/Regulatory Authorities,
c) Public Sector Undertakings,

45 | P a g e
d) Scheduled Commercial Banks,
e) Public Financial Institutions and
f) Professional Bodies such as ICAI, ICWAI, Bar Council etc., to their Members.
(iii) Photocopy of cheque leaf of bank account number mentioned on the form to verify the
Bank MICR No.
(iv) Latest photograph signed by the client.
FOR H.U.F ACCOUNT OPENING REQUIREMENTS :-
1. Signed Photograph of the Karta is required.
2. Proof of Identity of the Karta
3. Pan card of HUF
4. Proof of Address
5. Photocopy of cheque leaf of bank account number mentioned on the form to verify the
Bank MICR No.
6. HUF Stamp is required wherever the client signs on the agreement.
7. Letter from the Karta operating the Demat account with the two witnesses of
coparceners.
8. No joint names & nominees allowed for HUF accounts.
FOR MINOR ACCOUNT OPENING REQUIREMENTS :-
The account opened in the name of the minor cannot have second and third holders.
Further there can be no nominee for minor account. The Guardian has to sign on behalf of the
Minor.
1. Birth Certificate of the Minor.
2. Guardian‘s Proof of Address.
3. Guardian‘s Proof of Identity.
4. Photograph of the Minor & Guardian.
5. Photocopy of cheque leaf

46 | P a g e
FOR N.R.I. (NON RESIDENT INDIAN) CLIENT :-
1. Latest photograph signed by the client.
2. Photocopy of Valid Passport (Page containing the date of expiry also to be attached)
3. Proof of Local Address
4. Proof of Foreign Address
5. Photocopy of cheque leaf of bank account number (NRE or NRO) mentioned on the
form to verify the Bank MICR No.
FOR PARTNERSHIP FIRM :-
The account cannot be opened in the name of a partnership firm. It has to be opened in the
name of the partners, as an individual account. Maintaining dairy of clients and contacting
them at regular basis. To get feedback from them about Angel Broking services.

47 | P a g e
CHAPTER - 3
COMPETITOR’S ANALYSIS
ICICIDIRECT.COM
PRODUCTS AND SERVICES :-
A product for every need: ICICIdirect.com is the most comprehensive website, which
allows you to invest in Shares, Mutual funds, Derivatives (Futures and Options) and other
financial products. Simply they offer you a product for every investment need of yours.
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.
1. TRADING IN SHARES :-
ICICIdirect.com offers you various options while trading in shares:-
ICICIDIRECT.COM
TRADING
IN
SHARES
TRADING IN
Derivative
MUTUAL
FUNDS
IPO AND
BOND
ONLINE
PERSONAL
FINANCE

48 | P a g e
 Cash Trading :- This is a delivery based trading system, which is generally done with
the intention of taking delivery of shares.
 Margin Trading :- You can also do an intra-settlement trading up to 3 to 4 times your
available funds, wherein you take long buy/ short sell positions in stocks with the
intention of squaring off the position within the same day settlement cycle. (ONLY for
intraday)
 Margin PLUS Trading :- Through Margin PLUS you can do an intra-settlement trading
up to 25 times your available funds, wherein you take long buy/ short sell positions in
stocks with the intention of squaring off the position within the same day settlement
cycle. Margin PLUS will give a much higher leverage in your account against your
limits.
 Spot Trading :- When you are looking at an immediate liquidity option, 'Cash on Spot'
may work the best for you, On selling shares through "cash on spot", money is credited
to your bank a/c the same evening & not on the exchange payout date. This money can
then be withdrawn from any of the ICICIBank ATMs.
 BTST :- Buy Today Sell Tomorrow (BTST) is a facility that allows you to sell shares
even on 1st
and 2nd
day after the buy order date, without you having to wait for the
receipt of shares into your demat account.
 Call n Trade® :- Call n Trade® allows you to call on a local number in your city &
trade on the telephone through our Customer Service Executives. This facility is
currently available in over 11 major states across India.
 Trading on NSE/BSE :- Through ICICIdirect.com, you can trade on NSE as well as
BSE.
2. TRADE IN DERIVATIVES :-
Future :-

49 | P a g e
Through ICICIdirect.com, you can now trade in index and stock futures on the NSE. In
futures trading, you take buy/sell positions in index or stock(s) contracts having a longer
contract period of up to 3 months.
Presently only selected stocks, which meet the criteria on liquidity and volume, have
been enabled for futures trading.
Calculate Index and Know your Margin are tools to help you in calculating your
margin requirements and also the index & stock price movements.
Option :-
To take the buy/sell position on index/stock options, you have to place certain % of
order value as margin. With options trading, you can leverage on your trading limit by taking
buy/sell positions much more than what you could have taken in cash segment.
3. IPOs AND BONDS ONLINE :-
You could also invest in Initial Public Offers (IPOs) and Bonds online without going
through the hassles of filling ANY application form/ paperwork.
Get in-depth analyses of new IPOs issues (Initial Public Offerings), which are about to
hit the market and analysis on these. IPO calendar, recent IPO listings, prospectus/offer
documents, and IPO analysis are few of the features, which help you, keep on top of the IPO
markets.
4. CUSTOMER SERVICE FEATURES :-
With 'ICICIdirect Customer Tools & Updates' you can trouble shoot all your problems
online.
The ICICI direct Advantages :-
A Unique 3-in-1 account that gives you:
Convenience :-
The 3-in-1 accounts integrate your banking, broking and demat accounts. This enables
you to trade in shares without going through the hassles of tracking settlement cycles, writing

50 | P a g e
cheques and Transfer Instructions, chasing your broker for cheques or Transfer Instructions
etc.
Speed :-
You can now get the latest quotes of scrip on ICICIdirect.com and place an order
almost instantly.
Control :-
You can be assured that you have in fact placed an order at the price you always
wanted to, but may not have been able to do so till now. Thereby giving you control over your
own trades.
Independence :-
Instead of transferring monies to a broker's pool or towards deposits, you can manage
your own demat and bank accounts when you trade through ICICIdirect.com.
Trust :-
ICICIdirect.com comes to you from ICICI, the organization trusted by millions of
Indians
 We can trade into NSE, BSE, Derivatives, Mutual funds, Personal Finance, IPO‘s
online.
 Margin plus trading is provided in which customer can buy share up to 25 times of its
margin
ICICI DIRECT.COM :-
 A/C opening charges : Rs. 750
 AMC : Rs 500
 Brokerage : 0.03%
 Delivery : 0.75%
 Intraday : 0.07%
(Exclusive of service tax for 12.24% & Service Transaction Tax)

51 | P a g e
DEAL CLINCHERS VS ICICIDIRECT.COM :-
1. Brokerage is 0.75 %( Delivery) and 0.07 %( Intraday).
2. Margin of RS 5000/- is necessary to maintain in ICICIBank A/C.
3. BTST facility is provided only on 127 scrip.
4. While watching applet, only one-company rates can be seen and we have to refresh it
again and again to update the rates.
5. Limited toll free numbers are provided, on 21st
call RS 20/- are charged.
6. Compulsion to have bank a/c with ICICIBANK and your saving A/C is attached with
ICICI trading A/C. ICICIDIRECT has authority to debit your saving A/C directly
without customer informing about this.
7. Demat transaction charges are included in brokerage.
8. Research reports are provided at RS 450/-p.a.
9. Poor online Interface:
Slow website interface with no real-time quotes creates dissatisfaction among high
frequency traders.
10. 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.
11.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.
12. Only Intraday Margin exposure :-The margin exposure of 3 or 4 times is only provided
. for intraday.

52 | P a g e
INDIABULLS.COM :-
India bulls India‘s leading retail financial services company with 300 locations spread
across 110 cities. While size and strong balance sheet allow it to provide you with varied
products and services at very attractive prices, it‘s over 4400 Client Relationship Managers are
dedicated to serving your unique needs. India bulls are lead by a highly regarded management
team that has invested crores of rupees into a world class Infrastructure that provides our
clients with real-time service & 24/7 accesses to all information and products. India bulls
Professional Network TM
offers real-time prices, detailed data and news, intelligent analytics,
and electronic trading capabilities, right at your fingertips. This powerful technology is
complemented by knowledgeable and customer focused Relationship Managers. It is creating
a world of Smart Investor.
India bulls offer a full range of financial services and products ranging from Equities
to Insurance to enhance your wealth and hence, achieve your financial goals.
India bulls' Client Relationship Managers are available to you to help with your
financial planning and investment needs. To provide the highest possible quality of service,
India bulls provide full access to all our products and services through multi-channels.
INDIABULLS :
Charge Head
Charges
Account with POA Account without POA
Stamp Paper Charges Rs.200/- Rs.100/-
AMC Nil Rs.250/-
Custody Charges Nil Nil

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Transaction Charges Buy (Market / Off-
Market) Transfers
Nil Nil
Transaction Charges Sell (Market / Off-
Market) Transfers
Rs. 17/- per
Transaction
Rs. 17/- per Transaction
Nil Rs.20/- per instruction.
Pledge Creation / Confirmation /
Closure/Invocation
Rs.25/- per
Transaction
Rs.25/- per Transaction
D'MAT Rs.1 per certificate
(max Rs.250 /-) +
Rs.25 courier
charges
Rs.2 per certificate (max
Rs.250 /-)+ Rs.25 courier
charges
D'MAT Rejections Rs.20 per rejection
+ Rs.25 courier
Rs.20 per rejection +
Rs.25 courier
Re'mat Charges Rs.15 request or
0.02% whichever is
higher.
Rs.15 request or 0.02 %
whichever is higher.
Delivery Instruction Book Nil Rs.10/-
No charges for first book.
Fax Indemnity (Optional) N.A. Actual

54 | P a g e
RESEARCH REPORTS :-
Scheme Facilities
1. W e b B a s e d - 1 -
M o n t h -
R s . 1 0 0 :
This allows you to view and print reports for
ONE MONTH through our website.
2. W e b B a s e d - 3 -
M o n t h -
R s . 2 7 0 :
a full QUARTER through our website.
3. W e b B a s e d - 1 -
Y e a r -
R s . 1 0 0 0 :
ONE YEAR through our website.
4. P r i n t R e p o r t -
1 - M o n t h -
R s . 3 5 0 :
ONE MONTH through our website plus you
can get 10 REPORTS PRINTED AND
DELIVERED to your doorstep on request.
3 - M o n t h -
R s . 9 5 0 :
a full QUARTER through our website plus
you can get 10 REPORTS PRINTED AND
DELIVERED to your doorstep on request
EACH MONTH.
1 - Y e a r -
R s . 3 5 0 0 :
ONE YEAR through our website plus you
can get 10 REPORTS PRINTED AND
DELIVERED to your doorstep on request
EACH MONTH.

55 | P a g e
ADVANTAGES OF INDIABULLS :-
1. No annual maintenance charges for Demat account.
2. Listed company and aggressive in brand promotion.
3. Control — Stay on top of your investments with convenient access to your account
online or by phone.
4. Confidence — Support your investing decisions with premium in-depth research -
India bulls Equity Analysis.TM
5. Value — Enjoy competitive commissions and get the service and support you need at a
fair price.
6. Priority Service — Enjoy priority telephone access that gives you direct access to your
Relationship Manager.
7. Premium Research — Benefit from full access to India bulls Equity Analysis TM
, our
objective, fact-based approach to rating stocks.
8. Online Accounting — Stay on the top of your investments with a snapshot of your
Account Statements. Get access to Portfolio statement and access to digital contract
notes.
DEAL CLINCHERS Vs INDIABULLS :-
1. Research reports are paid at RS 100 p.m.
2. SMS alert service is not provided.
3. IPO online is not there. It is offline.
4. RS 500/- is blocked by system as margin.
5. 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
6. Annual maintenance charges are charged, if power of attorney is signed.
7. Margin Funding hoax:

56 | P a g e
The interest on funding starts on leveraged delivery trades from T+1 day itself @21%
p.a. on a daily basis
8. 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.
ANALYSIS :-
COMPETITORS COMPARISON :-
ANGEL BROKING ICICIDIRECT
. COM
INDIABULLS
A/C
OPENING
CHARGES
750/- (web based
online), 1000/- (software
based online), 460/-
(offline)
750/-(waive off if
trading is more than
Rs. 1 lakh)
1000(offline &
web based)
1750(software)

57 | P a g e
DEMAT A/C
CHARGES
FREE (1ST
YEAR)
AND 300/-P.A.
FROM
2ND
YEAR
ONWARDS
FREE FOR 1ST
YEAR
AND 500/- P.A.
FROM 2ND
YEAR
ONWARDS
NO AMC
TYPE OF
A/C
3(off line, fast trade &
speed trade)
Web based Web based&
software
TRADING
THROUGH
WEBSITE
OR SOFT-
WARE
BOTH WEBSITE BOTH
NSE/BSE/
DERIVA-
TIVES/
ARBIT-
RAGE/
MUTUAL
FUNDS
NSE/BSE/
DERIVATIVES/
COMMODITIES/IPO‘S
/ MUTUAL FUNDS/
INSUARANCE
NSE/BSE/
MUTUAL
FUNDS/
Derivatives
NSE/BSE
DERIVATIVES
SOFT-
WARE
CHARGES
500/-P.M.
(NEGOTIABLE
ON BROKERAGE)
N.A. N.A.
DAIL-N-
TRADE
UNLIMITED On 21st
call Rs 20/-
per call(P.M.)
RM NUMBER
PROVIDED
FOR
TRADING
DEMAT
TRANSAC-
NIL (THROUGH
ANGEL BROKING)
INCLUDING
IN
RS. 17/-
PER

58 | P a g e
TION
CHARGES
BROKERAG(Rs35) TRANSACTION
(ON SELLING)
TIE UP
WITH
BANKS
NINE BANKS
(DETAILS ARE
GIVEN EARLIER ON
PROJECT)
ICICIBANK ONLY
(COMPULSORY)
HDFC BANK,
BUY TODAY
SELL
TOMOR-
ROW
YES YES BUT
ONLY ON
127 SCRIPS
OF NSE
YES
SMS
ALERTS
YES YES YES
MINIMUM
MARGIN
EXPO-SURE
4 TO 8 TIMES 4 TIMES 4 TIMES
ONWARDS
MINIMUM
MARGIN
Nil 5000/- 500 BLOCKED
BY THE SYSTEM
Volume
requirement
Nil Nil NIL
BROKE-
RAGE
.04%(INTRA)
.4%
(DELIVERY)
.07% (INTRA-DAY)
.75%
(DELIVERY)
.04%(INTRA)
.4%
(DELIVERY)

59 | P a g e
CHAPTER – 4
RESEARCH METHODOLOGY
OBJECTIVES OF THE STUDY :-
The objective of my Project is to gain knowledge about how an organization works and in
particular setup of a stock broking house.
PRIMARY OBJECTIVES OF THE PROJECT ARE :-
1. To learn about company routine working
2. To learn the marketing techniques that is used to acquire a client.
SECONDARY OBJECTIVE :-
1. To study the “ANGEL BROKING” competitors strengths and weaknesses.
RESEARCH METHODOLOGY :-
Research Methodology – ―Systemized Method to gain knowledge‖. The technique deployed
to analyze and interpret the data for the purpose of hitting the target objective plays a crucial
role. The effective research technique has a significant contribution for effective objective
achievement. Throughout this project, a combination of secondary and primary research was
undertaken to ANGEL BROKING LTD.
DATA SOURCES :-
 Primary Data,
 Secondary Data

60 | P a g e
PRIMARY DATA :-
Primary data is a data that is collected for the first time in the processing of the
analysis.
The researchers have adopted the contact through telephone for the purpose of
collecting Primary data. The researchers discuss with Team Manager and employees of the
company to get information about competitors of Angel Broking.
SECONDARY DATA :-
Under Secondary sources, we tapped information from internal & external sources. We
made use of Internet (such as search engine www.google.com, www.icicidirect.com,
www.indiabulls.com and miscellaneous sources (such as brochures, pamphlets, library) under
external sources.
ANALYSIS :-
To make our research project most effective in a given time period of two months
surveyed the information of the competitors. We undertook both Explorative as well as
Conclusive Research Design. The data has been collected from both Primaries as well as
Secondary sources and we also did the fieldwork for which utmost care has been taken to keep
project unbiased from personal opinion.
SIGNIFICANCE OF THE STUDY :-
Every research is conducted to fulfill certain objective and these objectives in turn fulfill
some purpose. BBA curricular is designed to give more practical exposes to the student so that
he can make use of theoretical knowledge in the real life situation, with this thrust dissertation
study has been included which provides opportunity to research to gain practical insight of the
market. This hand on experience helps him in identifying the critical factor of consumer
buying behavior. This rich experience will be great help in researcher‘s future endeavors and it
also solves the purpose for the partial fulfillment of BBA curriculum.

61 | P a g e
I sincerely believe that road to improvement is never- ending and one always learns from a
new experience. This project is a step towards gaining knowledge about real world and putting
the theory of practice. I shall look forward to and gratefully acknowledge all suggestion on
this small step I have taken.
The report consists of a step–wise efforts towards meeting the objectives of the study. It
covers the step-wise collection of data collection and the representation of the data together
with the analysis. It also includes some suggestions put forward hoping it would help the
company achieve its vision.
MANAGERIAL USEFULNESS OF THE STUDY :-
The marketing department can use this study to enhance their marketing strategies for
better sales. This report helps marketing department in taking decision to what change in
distribution channels and what should be done so that marketing problem could be sorted out
and how to sell their range of product in the competitive market.
The very essence of every project related to marketing is providing a view to management
for chalk out the organization. So that they can maintain a viable fit between the organization
objective, skill and resources and its changing market opportunities. Also give proper shape to
the company business target profit and growth. It provides a feedback to the organization
about their sales, sales schemes and what impact dose it has on the retailers and consumer.
Every market research proves useful suggestion to the organization. Marketing research helps
the firm in every component of the total marketing task. It helps the firm acquire a better
understating of the buyer, the competition and marketing environment. It also aids the
formulation of the marketing mix, product, distribution and pricing needs marketing research
support. It also in taking the information of competitor‘s strategies and their impact on the
buyer. The study revels may fact that have come up during the project and these facts can
either be used as opportunities in exploring and expending the business as well as can be used
as safeguard against threats by the competitors to prepare an effective marketing strategy.
Every market research proves usefulness to the organization. Marketing research helps the
firm in every component of the total marketing task. Its helps the firm acquire a better

62 | P a g e
understanding of the consumer, the competition and the marketing environment. It also aids he
formulation of marketing mix, decision on each element of marketing mix, product,
distribution and promotion and pricing etc need the support of marketing research.
LIMITATIONS OF THE PROJECT :-
 Services of competitors :- We cannot give proper comment on competitor‘s services
till we use it. But I try to collect as accurate information as possible. As we all know
services are intangible and we cannot predict its quality, it is a thing to feel not to see.
 No proper assurance of right information :- The main data sources are websites,
telephonic information and offices visit.
 The data on websites might be possible, not get updated.
 The marketing person might be possible, is not through with all concepts to
which I contacted.
 Sometimes, they try to hide information.
 Lack of awareness of Stock market :- Since the area is not known before it takes lot of
time in convincing people to start investing in shares primarily in IPO‘s.
 Mostly people comfortable with traditional brokers :- As people are doing trading from
their respective brokers, they are quite comfortable to trade via phone.
 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 respondents 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 number to wrong phone number
 Misleading concepts :- Some people think that Shares are too risky and just another
name of gamble but they don‘t know it‘s not at all that risky for long investors.

63 | P a g e
SCOPE OF THE STUDY :-
These are some of the following scope of the study :-
1. The present study can be extended to assess the present marketing condition of stock
market.
2. The study can be used to design a proper product, price, place & promotional strategy
for stock market.
3. From the present study we can know the market share of different by-products and
accordingly formulated strategy to enhance it.
4. The result of marketing success of different by-product can be interpreted to assess the
rate of employee‘s satisfaction in that department (marketing).
5. This study can be applied to find out an effective distribution channel to enhance the
sale of by-product of “ANGEL BROKING”.

64 | P a g e
CHAPTER - 5
FINDING, CONCLUSION & RECOMMANDATIONS
On surveying various people who are involved in share trading both as trader as well
as investor, we found that brokerage is the most important factor on which people select / opt
a broking house, followed by image , convenience in trading , customer service, features, tips
& suggestion & AMC.
What is interesting to note is the weighted contribution of these factors towards
decision making. Although brokerage leads the pack it has only 19% contribution, and is
closely followed by broking houses‘ image with 18% and convenience in trade with 16%.
AMC & tips & suggestions having only 10% contribution each towards decision making end
up the pack.
MOST IMPORTANT FACTOR WHILE SELECTING A BROKING
HOUSE
AMC
TIPS & SUGGESTION
FEATURES
CUSTOMER SERVICE
CONVINIENCE(IN
TRADE)
IMAGE
BROKERAGE
FACTORS

65 | P a g e
On surveying ANGEL BROKING Customer why they opted for same, we got to know
it was because of image ANGEL BROKING carries in the market, followed by its competitive
brokerage, convenience in trade, features, customer service, tips and suggestions, and AMC.
Angel Broking Continuous increases its growth percentage as shown in the Graph &
becomes one of the India‘s Topmost Online Trading Service Provider.
CONCLUSION :-
In online trading “ANGEL BROKING” have mainly competition with icicidirect.com,
HDFCsec.com, 5Paisa.com India bulls. “ANGEL BROKING” comes at no. 2 retail broker. It has
an advantage of being in this industry for more than 8 decades. It has launched its website in
2000 and was among the first player in the online share trading. The “ANGEL BROKING” has
decided to spend its advertisement budget through four media i.e. Television, Print, Web and
Outlets. Mr. Boman Irani was the first brand ambassador for “ANGEL BROKING” on television
media. From the above analysis we can point out some points:-
1. ANGEL BROKING account opening charges are little higher than other competitors.
ANGEL BROKING is less flexible to cut down its account opening charges on the

66 | P a g e
other side; some of the brokers are offering free account opening to High Net Worth
customers.
2. The charges of Demat account are reasonable at 300 p.a. but India bulls are offering
pool account with no Annual Maintenance charges.
3. ANGEL BROKING provides trading in NSE, BSE and Derivatives. It also launched
online Mutual Funds & Online IPO Bidding. Arbitrage facility is not available to
customers.
4. ANGEL BROKING is the only one that does not have any Demat transaction charges
either on buying or selling.
5. Unlimited toll free calls service is provided to customer in ANGEL BROKING.com.
6. ANGEL BROKING accept offline payment from other banks also but icicidirect.com,
HDFCsec.com clients have compulsion to open an online account.
7. IPO Online service is better provided in ANGEL BROKING as compared to others.
8. ANGEL BROKING is only broker in which no margin needs to keep.
9. ANGEL BROKING research reports come in client e-mail at free of cost around 5-6
times in a day. But some brokers charged for it and some provide it only at once in a
day, while it is paid in Indiabulls, icicidirect.com and 5paisa.com.
10. In brokerage, 5paisa.com have an edge on others with lowest brokerage .25% on
delivery and .05% on intraday
To sum up, we can say that computerization and automation are not to be avoided.
Technology has been able to make the stock markets accessible to every individual. It has also
led to positive developments in terms of reduced costs and fewer errors. But, as some
experiences have indicated, IT cannot be applied as a panacea for all problems. Regulation
and knowledge dissemination are still important. The use of technology should be preceded by
a detailed study and assessment of all other alternatives. The key to successful use to
technology is the appreciation of its constraints.

67 | P a g e
RECOMMENDATION :-
We suggest following measures, which ANGEL BROKING could take so as to take on
heavy competition from INDIABULLS and ICICIDIRECT.COM
1. To identify regions where promotions are required. ANGEL BROKING lacks
visibility in northern region where as it is a well known name in western region. Even
then, its promotional campaign focuses on western region where as northern region is
still waiting for promotional campaigns.
2. Try to reduce cost, so that benefits can be passed on to customers. Senior managers at
ANGEL BROKING keep on telling that it is difficult to reduce cost, because of
services we provide. But the fact is, India being a price sensitive market, people at
times go for monetary benefits rather than for long term non- monetary benefits.
3. If charges can‘t be reduced because of costs involved, make the services customized,
so that services are provided to only those customers who are willing to pay the price
for services they are getting and let the other customers enjoy costs benefits without
getting services.
4. Concept of margin funding should be introduced, as more and more people are asking
for it.
FINDINGS :-
DEMOGRAPHIC FINDINGS
AGE GROUP
Age group(years) No. of respondents
Below 20 0
20-35 31
36-50 78
51-65 59
Above 65 32

68 | P a g e
Figure : 1
Out of total 200 respondents, below 20 years of age were none, 39% of the respondents
falls in the age group of 36-50 years where as 29% were in the age group of 51-65 years and
next 16% falls in the group of more than 65 years.
0
10
20
30
40
50
60
70
80
90
Below 20 20-35 36-50 51-65 above 65
No. of respondents

69 | P a g e
JOB PROFILE
Category No. of respondents
Service 94
Business 80
Others 26
Figure : 2
Out of total respondents, most of respondents were from service class and 40 % were
during business and rest of the respondents includes retired person, other people, other
professional‘s students etc.
94
80
26
0
No. of respondents
Service
Business
Others

70 | P a g e
ANNUAL INCOME (IN LACS)
Income group No. of Respondents
Less than 1 lac 50
1-5 lacs 93
More than 5 lacs 57
Figure : 3
Most of the respondents belong to the income group of 1-5 lakh followed by the
respondents belong to income group of more than 5 lakh which is 28% of total respondents
and rest of Respondents belonging to the income group below 1 lakh.
50.00
93
57
0
No. of Respondents
Less than 1 lac
1-5 lacs
More than 5 lacs

71 | P a g e
EDUCATIONAL BACKGROUND
Qualification No. of respondents
Under graduate (U.G) 53
Graduate 79
Post graduate(PG) 55
Others(O) 13
Figure : 4
Most of the respondents were graduate and 26% were post graduate and rest 6% belong
to other category.
53
79
55
13
0
10
20
30
40
50
60
70
80
90
Under
graduate
Graduate Post graduate Other
No. of respondents

72 | P a g e
Q1. When the respondent were asked their preference of investment, is cash market ,
derivatives market or both, the following respondents were obtained .
Options No. of respondents
Only cash/capital market 76
Only derivative market 21
Both 103
Figure : 5
Out of 200 respondents amount 52% respondents their fund in cash and derivative
market, 38% investment is only cash market and rest is derivative market.
0
20
40
60
80
100
120
Only
cash/capital
market
only derivative
market
Both
76
21
103
No. of respondents
No. of respondents

73 | P a g e
Q2.When the respondents were asked about the time period for which they are investing,
the following responses were obtained.
Time period No. of respondents
Less than 1 year 25
1-5 year 97
More than 5 year 78
Figure : 6
Out of total 200 respondents 12% respondents were new investors, 48% were investing
for 1-5 year and rest was for more than 5 year.
25
97
78
No of respondents
Less than 1 year
1-5 year
more than 5 year

74 | P a g e
Q3.When the respondents were asked about proportion of income they invest in shares
and securities, the following responses were obtained.
Investment proportion No. of respondents
Up to 5% 47
5 to 10% 59
10 to 25% 63
More than 25% 31
Figure : 7
When the respondents asked about the proportions of income they invest in shares and
securities, it was found that most of the (32%) respondents invest 10-25% of their income,
30% of respondents invest 5-10% and 24% of them invest up to 5% and rest more than 25%.
47
59
63
31
No. of respondents
Up to 5%
5to 10 %
10 to 25%
more than 25%

75 | P a g e
Q4.When the respondents were asked trading frequency, the following responses were
obtained.
Figure : 8
On analyzing the trading practices it was found that majority, 65% of the investor‘s trade
according to the market 25% trade daily followed by weekly traders 7%.
0
20
40
60
80
100
120
140
Daily Monthly Weekly According to
the market
49
13
7
131
No. of respondents
No. of respondents

76 | P a g e
Q5.When the respondents were asked about trading advice , the following responses
were obtained.
Figure : 9
Regarding the decision of amount and investment area, 98 out of 200 takes the idea on
their own and 37 on expert‘s opinion, 35 on brokers advice, and 19 on friends advice.
98
37
19
35
11
0
20
40
60
80
100
120
On your own
idea
Expert's option On friend
advice
Broker advice Other
No. of respondents
No. of respondents

77 | P a g e
Q6.When the respondents asked whether any professional advice is available to them
when required, the following responses were obtained.
Figure : 10
Out of 200, 108 respondents said that they don‘t and professional advice, 73 said that they
get it sometimes, and 19 of them get advice when needed.
19
108
73
No. of Responding
Yes
No
Sometime

78 | P a g e
Q7.When the respondents were asked about the motive for making investment in capital
market, the following responses were obtained.
Calculation of weight, (Rank I=3, Rank II=2, Rank =1)
Option Rank I Rank II Rank III
Regular income in the
form of dividend/
interest
339 54 60
Tax planning 165 52 119
Capital gain 360 50 55
Regular income in the
form of dividend/
interest
113 27 60
Tax planning 55 26 119
Capital gain 120 25 55

79 | P a g e
Figure : 11
On analyzing motives for investment in capital market it was found that capital gain was
the most important factor that influences investment decisions followed by regular income and
tax planning.
339
165
360
54 52 50
60
119
55
0
50
100
150
200
250
300
350
400
Regular income in form of
divident/ interest
Tax planning Capital gain
Rank I
Rank II
Rank III

80 | P a g e
Q8.When the Respondents were asked about the factors they consider while selecting a
broker, the following responses were obtained.
Brokerage 129 59 12
Frequent payments &
transfer of securities
112 43 45
Less advance margin 59 79 62
Credit limits 65 46 89
Personal Relations 79 24 97
Calculation of Weight, (Rank I=3, Rank II=2, Rank III=1)
Brokerage 387 118 12
Frequent payments &
transfer of securities
336 86 45
Less advance margin 177 158 62
Credit limits 195 92 89
Personal Relations 237 48 97

81 | P a g e
Figure : 12
0
50
100
150
200
250
300
350
400
Brokerage Frequent
payments &
transfer of
securities
Less advance
margin
Credit limits Personal
Relations
387
336
177
195
237
118
86
158
92
48
12
45
62
89
97
Rank I
Rank II
Rank III

82 | P a g e
CHAPTER - 6
BIBLIOGRAPHY
BOOKS :-
 Kotler Philip, Marketing Management: 13th
Edition, 2006, Prentice Hall of
India Ltd., New Delhi.
MAGAZINE :-
 Business World
 News Papers
WEBSITES :-
 www.angelbroking.com
 www.sharekhan.com
 www.icicidirect.com
 www.indiabulls.com
 www.5paisa.com
 www.scribd.com
 www.google.com

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