DECLARATION

I, BHUT GAURAV, a student of M.B.A. SEMESTER – IVhereby declare that the project work

presented in this report is my own work and has been carried out under the supervision of Mr.

DEV PRAKAS ofsunshine group of instruction-Rajkot.

This work has not been previously submitted to any other university for any other examination.

DATE: SIGNATURE

PLACE: RAJKOT (GAURAV BHUT) SEMESTER-IV

1

PREFACE

Research project report is a separate subject in M.B.A semester IV. Project report is to be

prepared after training for one and half month on a particular firm after visiting and collecting

the necessary information.

Project report is an enjoyable experience for me. It is different from theoretical aspects. Through

this training, I came to know about the practical idea, the matters and its dealings. This report

helps me to build confidence in my life.

M.B.A. education brings its students in direct contact with the real corporate world through

industrial training. The M.B.A. program provides its students with an in-depth study of various

managerial activities that are performed in an organization.

I have undergone my research work at ANAGRAM STOCK BROKING LIMITED.The

ANAGRAM STOCK BROKING LIMITED has emerged as one of the major stock broking

houses in India having memberships on BSE, NSE and the two leading commodity exchanges in

the country.

I have selected this industry to enrich my knowledge about the practical aspects of E- broking

and to enhance knowledge regarding the concept.

2

ACKNOWLEDGEMENT

Many people have contributed to the conception and implementation of this project report and I

am delighted to have this opportunity to extend my gratitude to them.

First of all, I would like to express my sincere thanks towards my college that has given me an

opportunity and special thanks to my guide Mr. KUMARGAURAV GHELA who have always

provided me guidelines whenever needed.

I extend my heartiest thanks to Mr. JATINBHAI JANI (Brach manager of ANAGRAM STOCK

BROKING LIMITED, Bhavnagar) who gave me an opportunity to work under him and help me

to complete my project in ANAGRAM STOCK BROKING LIMITED named “Future scenario

of E – broking”

I would like to acknowledge the advice and suggestions of all the staff members of ANAGRAM

STOCK BROKING LIMITED who have directly or indirectly helped me in completing the

research project.

Date:-

Place:- PRITESH G. MAHETA

3

EXECUTIVE SUMMARY

The Anagram stock broking limited has emerged as one of the major retail stock broking houses

in India having memberships on BSE, NSE and the two leading commodity exchanges in the

country i.e. NCDEX and MCX. Anagram stock broking limited is also registered as a depository

participant with CDSL. Anagram must be able to exceed their customers by delivering them

world-class services.

The objective of the study was to find out the future scenario of E-Broking. The need for this

study is to know the future potential of the customer and can make a strategy for the capture the

market.

The introductory part of the study is focused on theoretical framework of study

topic "Future scenario of E-Broking."

The second half of the study is based on the analysis of questionnaire. Here,

instrument used towards "The E-Broking" is questionnaire.

Samples were collected from different walks of the life which includes

professional, government people, business people, employees, housewives,

farmers etc. The study ends with major findings and conclusion.

4

CONTENTS

Sr. no.

Particulars Page no.

1 Industry analysis 1

2 About the company 26

3 Research Methodology 34

4 Data interpretation & analysis 41

5 Findings & suggestions 56

6 Conclusion 59

7 Appendix 61

8 Bibliography 65

5

6

INDIAN CAPITAL MARKET: AN OVERVIEW

Indian Stock Markets are one of the oldest stock markets in Asia. Its history dates back to nearly

200 years ago. The East India Company was the dominant institution in those days and business

in its loan &securities used to be transacted towards the close of the eighteenth century. By

1830’s business on corporate stocks and shares in Bank and Cotton presses took place in

Bombay. Though the trading list was broader in 1839, there were only half a dozen brokers

recognized by banks and merchants during 1840 and 1850.

The 1850’s witnessed a rapid development of commercial enterprise and brokerage business

attracted many men into the field and by 1860 the number of brokers increased into 60. In 1860-

61, the American Civil War broke out and cotton supply from United States of Europe was

stopped; thus, the ’Share Mania’ in India begun. The number of brokers increased to about 200

to 250. However at the end of the American Civil War, in 1865, a disastrous slump began (for

example, Bank of Bombay Share which had touched Rs 2850 could only be sold at Rs. 87).At

the end of the American Civil War, the brokers who thrived out of Civil War in 1874, found a

place in a street where they would conveniently assemble and transact business.

In 1887, they formally established in Bombay, the "Native Share and Stock Brokers’

Association’. In 1895, the Stock Exchange acquired a premise in the same street and it was

inaugurated in 1899. Thus, the Stock Exchange at Bombay was consolidated.

7

INDIAN STOCK EXCHANGES – HISTORICAL GROWTH

The Second World War broke out in 1939. It gave a sharp boom which was followed by a slump.

But, in 1943, the situation changed radically, when India was fully mobilized as a supply base.

On account of the restrictive controls on cotton, bullion, seeds and other commodities, those

dealing in them found in the stock market as the only outlet for their activities. They were

anxious to join the trade and their number was swelled by numerous others. Many new

associations were constituted for the purpose and stock Exchanges in all parts of the country

were floated.

The Uttar Pradesh Stock Exchange Limited (1940), Nagpur Stock Exchange Limited (1940) and

Hyderabad Stock Exchange Limited (1944) were incorporated.In Delhi, two stock exchanges -

Delhi Stock and Share Brokers’ Association Limited and the Delhi Stocks and Shares Exchange

Limited - were floated and later in June 1947, amalgamated into the Delhi Stock Exchange

Association Limited.

India boasts of the oldest stock exchange in Asia - the Bombay Stock Exchange is 125 years old.

There are 23 recognised exchanges spread across the country, but a process of consolidation is

now under way. Many of the regional stock exchanges have started aligning themselves with one

or both of the two largest exchanges (the Bombay Stock Exchange and the National Stock

Exchange) both of which have VSAT networks that give them a nation wide reach. The National

Stock Exchange is an unlisted for-profit company set up by some of the leading financial

institutions of India. The Securities and Exchange Board of India (SEBI), the apex regulator of

the capital market has regulations that mandate a minimum number of outside directors on the

governing board and provide greater autonomy to the exchange.

8

In 1935, the stock market activity improved, especially in South India where there was a rapid

increase in the number of textile mills and many plantation companies were floated. In 1937, a

stock exchange was once again organized in Madras - Madras Stock Exchange Association

Private Limited (In 1957, the name was changed to Madras Stock Exchange Limited). Lahore

Stock Exchange was formed in 1934 and it had a brief life. It was merged with the Punjab Stock

Exchange Limited, which was incorporated in 1936.

9

HISTORY OF ONLINE TRADING

Online stock trading is very old concept for big institutions that trade through private networks

owned by Reuter's "Instinet" and a system called "Posit" since 1969. But it becomes Internet

based for laymen only in late 1990s.

The idea of online stock trading was first time used by a company making Beer called "WIT

beer" to help its shareholders to trade its shares. That’s how "WIT Capital" was born which is

considered pioneer of this concept. It was made mainstream and household name by an offshoot

of Charles Schwab & Co called eSchwab which is used by millions of people in USA. Lot of

NRI'sknowto play in US stock market even when they come to India for holidays via website of

eSchwab.

There are other serious players like E*trade, DATEK online etc. All these companies ask you to

start account with US $5000 and you can buy and sell stock using these funds. They also issue

you a chequebookwhich you can use to make payments from this account or use their ATM card

to withdraw cash from your stock trading account.

Today every big name brokerage firm offers online stock trading as it reduces their costs. Earlier

they had army of brokers on phone with clients executing trade which is done by computers

accepting orders from clients directly. This firm now offers human access to high net worth

accounts and to rest at charge per trade.

10

E- B ROKING - A SMALL BEGINNING:

Trading shares on BSE/NSE has always been your dream. When will you ever find the time?

And besides, the hassle of finding a broker is not easy. Realizing there is untapped market of

investors who want to be able to execute their own trades and when it suits them, brokers have

taken their trading rooms to the Internet known as online brokers. They allow you to buy and sell

shares via Internet.

There are 2 types of online trading service: discount brokers and full service online

broker.Discount online brokers allow you to trade via Internet at reduced rates. Some provide

quality research, others don’t. Full service online brokerage is linked to existing brokerages.

These brokers allow their clients to place online orders with the option of talking/ chatting to

brokers if advice is needed. Brokerage rates here are higher. 5Paisa.com, ICICIDirect.com,

IndiaBulls.com, Sharekhan.com, Geojit securities.com, HDFCsec.com, Tatatdw.com,

Kotakstreet.com are some of the online broking sites in India with internet trading in securities

and rapid consolidation between multiple stock exchanges. The international securities market

place is becoming a "global village" through the creation of a universal virtual equity market.

Compared to the Western countries, online trading is still in its infancy in India with trading

turnover at around Rs. 10 crores per day from online trading compared to a combined gross

turnover of around Rs. 9000-10,000 crores handled by the BSE and NSE together. Online trading

has a long way to go.

11

INTERNET TRADING IN INDIA:

In the past, investors had no option but to contact their broker to get real time access to market

data. The Net brings data to the investor on line and net broking enables him to trade on a click.

Now information has become easily accessible to both retail as well as big investors.

The development of broking in India can be categorized in 3 phases:

1. Stock brokers offering on their sites features such as live portfolio manager, live quotes,

market research and news to attract more investors.

2. Brokers offering online broking and relationship management by providing and offering

analysis and information to investors during broking and non-broking hours based on

their profile and needs, i.e. customized services.

3. Brokers will offer value management or services such as initial public offerings on line,

asset allocation, portfolio management, financial planning and tax planning, insurance

services and enable the investors to take better and well-considered decisions.

12

OBJECTIVES OF INTERNET TRADING :

Increase transparency in the markets.

Enhance market quality through improved liquidity by increasing quote continuity and

market depth.

Reduce settlement risks due to open trades by elimination of mismatches.

Provide management information system (MIS).

Introduce flexibility in the system to handle growing volumes easily and to support

nationwide expansion of market activity.

Besides, through Internet trading, three fundamental objectives of securities regulation

can be easily achieved. These are: Investor protection, creation of a fair and efficient

market and reduction of the systematic risks.

13

PROCEDURE FOR INTERNET TRADING:

Step-1: Those investors interested in doing the trading over Internet system, that is,

NEAT-ISX, should approach the brokers and register with the Stock Broker.

Step-2: After registration, the broker will provide them a login name, password and a

personal identification number (PIN).

Step-3: Actual placement of an order. An order can be placed by using the place order

window as under:

o First by entering the symbol and series of stock and other parameters such as

quantity and price of the scrip on the place order window.

o Second, fill in the symbol, series and the default quantity.

Step-4: It is the process of review. Thus, the investor has to review the order placed by

clicking the review option. He may also re-set to clear the values.

Step-5: After the review has been satisfactory; the order has to be sent by clicking on the

send option.

Step-6: The investor will receive an ``Order Confirmation'' message along with the order

number and the value of the order.

Step-7: In case the order is rejected by the Broker or the Stock Exchange for certain

reasons such as invalid price limit, an appropriate message will appear at the bottom of

the screen. At present, a time lag of about ten seconds is there in executing the trade.

Step-8: It is regarding charging payment for which there are different modes. Some

brokers will take some advance payment from the investors and will fix their trading

limits. When the trade is executed, the broker will ask the investor for transfer of funds

by the investor to his account.

14

Brokerage cost:

It is important to weigh up the subscription and trading costs charged by an online broker against

benefits offered by the site. All online brokers display their charges on their sites. Some make

sure you find the charges easily while with others you will have to search a bit.

Safety:

Please make sure that site has 128-bit encryption to ensure safety of transaction online.

ICICIDirect.com, 5paisa.com are few sites with 128-bit encryption. You normally get a secured

Login id and password. It is always advisable to frequently change your trading password.

Ideally online trading site should be fully integrated. The greater the backward integration, the

better it is for the customer. Ideally broking account, demat account and bank account should be

linked electronically.

Rate refresh:

Rate refresh has to be real-time with no time lag. The speed and reliability comes with huge

investment in technology. It is always advisable to check rates of online broking sites with BSE/

NSE terminal rates.

Speed of execution:

System has to be fast and reliable that executes your trades quickly. The last thing you need is a

site that is heavily congested with the users who are downloading heavy jpeg graphs or pulling

the latest story why market is moving. The site should be one click wonder where squaring off

all your positions or canceling all your pending orders takes one click and a confirmation of

action.

15

Trading limit:

For trading, all sites provide 4 times buy and sell limit against margin money put in by customer.

For delivery of shares, buying limit is equal to margin money put in by customer. Couple of sites

also provides margin funding for buying of shares.

Free trial period:

Site should allow users free trial period to familiarize yourself with system before you decide to

become trading member of the site.

Intraday chart/ historical chart:

The site should provide intraday chart tick-by-tick time and price data / historical chart for

technical analysis by investors of particular scrip.

SUCCESS FACTORS FOR E-BROKING:

16

There are three key success factors for e-broking,

(I) Scalability and robustness of the trading system:

The fundamental difference between the Internet as a transaction medium and the conventional

closed user group network is that the Net is a universal platform providing concurrent access to

infinite users at any given point of time. Consequently, it becomes imperative for any Net-based

application to have a proven capability for scalability and robustness which ensures the ability to

handle and process requests from multiple users at any given point of time.

(ii) Bandwidth optimization:

In the Indian context where availability of a sufficient bandwidth is limited, the application

software should demonstrate intelligence in optimizing the available bandwidth by deploying

advanced technologies such as streaming.

(iii) Integration with third party systems:

On the Net, with information feeds available from multiple points, it is prudent to deploy

applications that are built on open architecture methodology for interfacing with third party

systems in the new Net age.

CHALLENGES IN INTERNET TRADING:

17

For Internet trading to succeed, it is imperative to have both, a robust business model as well as a

comprehensive technology strategy. Some of the challenges are discussed: Transaction

fulfillment--In the Net-based economy, it is both prudent and essential for a broker/intermediary

to offer total solution to the clients at a single point. Total solutions would essentially mean

offering interfaces with banks, depositories, information feeds, etc. for efficiency in trade

completion and reducing duplication of client information. The service providers will have to go

beyond the stage of mere order execution and emerge as "informed Aries" rather than

"intermediaries". This will not only ensure lower trading costs in terms of offering cross services

but will also help in maximizing ROIs.

FUTURE OF INTERNET TRADING:

International marketplaces are already witnessing re-alignments and changes with the emergence

of electronic communication networks (ECNs) such as INSTINET and ISLAND which are

already contributing substantial business volumes to mainline exchanges such as NASDAQ and

the NYSE. Concurrently, exchanges worldwide are looking at striking strategic alliances such as

the Global Equity Market (GEM). With internet trading in securities and rapid consolidation

between multiple stock exchanges, the international securities marketplace is fast becoming a

"global village" through the creation of a universal virtual equity market. Therefore, the

challenge for the technology providers is to develop and deploy advanced e-trading tools and

applications using electronic straight through processing technologies.

PLAYERS OF THE INDUSTRY:

18

ANAGRAM STOCK BROKING LIMITED:

The Anagramhas emerged as one of the major retail stock broking houses in India having

memberships on BSE, NSE and the two leading commodity exchanges in the country i.e.

NCDEX and MCX. Anagram stock broking Ltd is also registered as a depository participant

with CDSL.

ICICI Web Trade Ltd. (ICICIdirect.com):

ICICIdirect.com was the first entrant into e-broking.ICICdirect.com provides the 3-in-1 to the

users which ties in their saving bank account and their Demat account to their brokerage account

electronically. This integration ensures that money is transferred to/from their bank account and

the shares are transferred from/to their Demat account automatically without writing any cheques

or transfer instructions while carrying out their trades in shares.

INDIABULLS:

Indiabulls is India's leading retail financial services company with 77 locations spread across 64

cities. Its size and strong balance sheet allows providing varied products and services at very

attractive prices. Indiabulls is lead by a highly regarded management team that has invested

crores of rupees into a world class Infrastructure that provides real-time service & 24/7 access to

all information and products. TheIndiabulls Professional Network offers real-time prices,

detailed data and news, intelligent analytics, and electronic trading capabilities at your finger-

tips. This powerful technology is complemented by knowledgeable and customer focused

Relationship Managers.

S SKantilalIshwarlal Securities Pvt. Ltd. (sharekhan.com):

19

Share khan, India’s leading stock broker is the retail arm of SSKIand offers you depository

services and trade execution facilities for equities, derivatives and commodities backed with

investment advice tempered by decades of broking experience. A research and analysis team is

constantly working to track performance and trends. That’s why Share khan has the trading

products which are having one of the highest success rates in the industry. Share khan is having

240 share shops in 110 cities; the largest chain of retail share shops in India is of Share khan. In

future, Share khan is planning to enter in Mutual funds, Insurance sector and banking sector to

expand beyond the market currently covered by it and it has started MF (Mutual Funds) on

priority basis but wants to grow in it.

5Paisa.com:

5paisa is the trade name of India Infoline Securities Private Limited. 5paisa is a wholly owned

subsidiary of India Info line Ltd, India’s leading and most popular finance and investment portal.

5paisa has emerged as one of the leading players in e-broking space in India. The company’s

brokerage is one of the lowest in the industry. It also provides the research on commodities.

Investors can benefit from its analysis and advice available at the click of the mouse. For those

who prefer to trade the traditional way, India Infoline investor points are available across the

country.India Infoline was founded by a group of professionals in 1995. Its institutional investors

include Intel Capital, one of the leading technology companies in the world promoted by the U K

government, ICICI, TDA and Reeshanar. The company offers a slew of products such as stock

and derivatives broking, commodities broking and mutual funds.

Advani Share Brokers:

Advani Share Brokers, the reputed Bombay based investment house, operates from India's

financial hub, Dalal Street, since sixty years. It deals in equities, debt and derivatives on the

Bombay Stock Exchange and the National Stock Exchange of India.

AGROY:

20

AGROY Group of Companies is a well-established name in the field of capital markets and

financial services. AGROY Finance & Investment Ltd. (AFIL) is the group's flagship company

engaged in capital markets as a premier financial and stock broking house. The company was

formed in July 1992. Since then it has enjoyed patronage of a large number of valued customers

and business partners.

HDFC Securities Ltd (HDFCsec):

HDFCsec is a brand brought by HDFC Securities Ltd which has been promoted by the HDFC

Bank & HDFC with the objective of providing the diverse customer base of the HDFC Group

and gives investors a capability to transact in the Stock Exchanges & other financial market

transactions. The services comprise online buying and selling of equity shares on the National

Stock Exchange (NSE). Buying and selling of select corporate debt and government securities on

the NSE would be introduced in a subsequent phase. In a few months, they will also start

offering the following online trading services on the BSE and NSE:

1. Buying and selling of shares on the BSE

2. Arbitrage between NSE & BSE

3. Trading in Derivatives on the NSE

4. Margin trading products.

Dalmia Securities:

Dalmia Securities (P) Ltd. is one of the market leaders in the Indian securities market. Its

reputation is best reflected in the quality of customer base, individuals who demand, and get, the

highest standard in asset handling. Dalmia is a powerful builder of the market generating

professional resources, setting standards of prudence, efficiency and of friendliness to investors.

MotilalOswal Securities Ltd. (MOSt):

21

One of the top-3 stock-broking houses in India, with a dominant position in both institutional and

retail broking, MOSt is amongst the best-capitalized firms in the broking industry in terms of net

worth.MOSt was founded in 1987 as a small sub-broking unitwith just two people running the

show. Focus on customer-first-attitude, ethical and transparent business practices, respect for

professionalism, research-based value investing and implementation of cutting-edge technology

have enabled it to blossom into a thousand-member team. The institutional business unit has

relationships with several leading foreign institutional investors (FIIs) in the US, UK, Hong

Kong and Singapore. In a recent media report,MOSt was rated as one of the top-10 brokers in

terms of business transacted for FIIs.

Kotak Securities Limited (kotakstreet.com):

Kotak Securities Ltd., a strategic joint venture between Kotak Mahindra Bank and Goldman

Sachs (holding 25% - one of the world’s leading investment bank and brokerage firm) is India’s

leading stock broking house with a market share of 5 - 6 %. Kotak Securities Ltd. has been the

largest firm in IPO distribution. It was ranked number One in 2003-04 as Book Running Lead

Managers in public equity offerings by PRIME Database. The company has a full-fledged

research division involved in macro economic studies, sectored research and company specific

equity research combined with a strong and well-networked sales force which helps to deliver

current and up to date market information and news.Kotak Securities Ltd is also a depository

participant with National Securities Depository Limited (NSDL) and Central Depository

Services Limited (CDSL) providing dual benefit services wherein the investors can use the

brokerage services of the company for executing the transactions and the depository services for

settling them.The company has 42 branches servicing around 1,00,000 customers.

Kotakstreet.com, the online division of Kotak Securities Limited offers Internet Broking services

and also online IPO and Mutual Fund Investments.

22

IL&LS Invest smart:

IL&FS Invest smart Limited (IIL) is a premier financial service organization providing

individuals and corporate with customized financial management solutions. The company works

towards understanding financial goals and helping attain them.

IDBI Capital Market Services Ltd:

IDBI Capital is a leading Indian securities firm offering a complete suite of products and services

to individual, institutional and corporate clients.IDBI Capital Market Services Ltd. (a wholly

owned subsidiary of Industrial Development Bank of India), is a leading Indian securities firm,

offering a complete suite of products and services to individual, institutional and corporate

clients. They provide services like fixed income trading, equities brokerage, debt and equity

derivatives, research, private placements, depository services, portfolio management and

distribution of financial products. Over the last five years, the company is emerged as a leading

player in each of these businesses.

EMKAY:

Emkay is a Financial Services Company promoted and run by professionals. Core area of

operations is stock-broking and wealth management. Emkay has well demonstrated research

advice and execution capabilities in equities

Refco - Sify Securities India Pvt. Ltd:

Refco-Sify Securities India Pvt. Ltd., headquartered in Mumbai, is a joint venture between

theRefco Group Holding Ltd., USA and Satyam Infoway Limited (NASDAQ: SIFY) to offer

online and offline equity and derivatives tradingfor retail customers as well as execution and

clearing services for financial institutions. Refco also provides clients with prime brokerage

services, fixed income, equities, foreign exchange, OTC derivatives and asset

management.Refco is a leader in providing clients with the latest technological advances in

products and services. Its proprietary systems and global infrastructure provide the flexibility to

meet all client requirements.

23

Indianstockmarket.net:

Indianstockmarket.net is an effort to educate Indian investor by providing useful stock news,

stock market websites, informative articles, resources to various investment guides.

Indira Securities:

After starting operations in 1995, the firm has grown from a modest stock broking firm to the

current status with substantial business base. The Firm provides services of share broking in

National Stock Exchange of India Ltd. Its partners concern is the members of Bombay Stock

Exchange and regional stock exchange.

Indus Invest:

INDUS PORTFOLIO (P) Ltd. is one of the well established professional stock broking

companies in north India. Indus symbolizes dynamism of our economy, synthesis of civilization

and stability of our nationhood.

Invest Mentor:

Invest Mentor Securities Ltd (ISL) is a leading stock broker of Gujarat, India. ISL has a seat on

India's largest stock exchange-National Stock Exchange of India ltd (NSE) and is also a very

active depository participant with India's largest depository - National Securities Depository Ltd

(NSDL).

Investment Research & Information Services Ltd. (IRIS):

Myiris.com provides online trading service of Indian stocks and mutual funds. It also provides

financial news, car loans, housing loans and credit cards.

24

Jaypee Capital Services:

Jaypee Capital Services Ltd. is a registered self-clearing member with National Stock Exchange

and SEBI. It has the expertise and the experience to capitalize on daily stock movements and

employ over 20 specialist traders certified by the NSE.

Khandwala Securities Limited:

Member of the National Stock Exchange on both the capital market and the debt market

segment, the Khandwala group has had over six and a half decades of experience in the financial

services industry. KSL specializes in servicing the specific needs of institutional, corporate and

high net worth individuals.

KRChoksey:

KisanRatilalChoksey Shares & Securities is a full service broking house offering complete

financial solutions suiting customer needs. The company serves an eclectic clientele comprising

high net worth individuals, corporate, NRI's, mutual funds, insurance companies, banks as well

as other financial institutions.

MangalKeshav:

MangalKeshav Securities Ltd has been a leading brokerage and advisory house with a

membership of NSE (Cash, F&O and Debt), BSE (Cash, F&O and Debt) OTCEI, NSDL and

CDSL. MKSL has been offering services since 1939 to mutual funds, financial institution, high

net worth individuals and retail Investors across the country offering a range of sophisticated

advisory, financial trading and investment services.

Orient Capital Market:

OCM was started in the 1995 by 3 stalwarts of the industry with the sole aim to reduce the cost

and improve the efficiency of the Broking system.

25

Pratibhuti:

Pratibhuti is one of the prominent Indian stocks broking companies, head office quartered in

Mumbai effecting business on India's major bourses. It is the first stockbroker to obtain all

regulatory approvals in commencing its overseas on-line trading terminals via its own

representative office.

RBK Share Brokers:

RBK Share Broking Ltd is the member of Mumbai Stock Exchange, the premier stock exchange

of India. Its group company,Truevalue Securities & Finance Pvt. Ltd is the member of National

Stock Exchange Ltd.

Sivan Securities:

Sivan Securities Private Limited (Sivan) is one of the leading Indian investment banker & stock

broker with a strategic focus on South India. Headquartered in Bangalore, Sivan also operates

from offices in Madras (Chennai), Hyderabad & Mangalore.

Toss Financial Services Pvt. Ltd

Toss Financial Services Pvt. Ltd, a corporate member of The National Stock Exchange of India

Ltd (NSE) on the equity segment is one of the established Stock broking and Investment

Management Firms in India which strive for absolute professionalism and high degree ethical

standards when it comes to the question of client’s interest.

26

SUPPLIERS

Web maintainers NSDL CDSL NSE BSE MCX NCDEX

SUBSTITUTES

Mutual FundsInsuranceBank FD

BUYERS

Small InvestorsBusiness PartnersMF CompaniesHUFsInstitutional Investors

POTENTIAL ENTRANTS

Invest mart Various Banks

Geojit Cipher

Refco Group Ltd.IDBI Capital Mkt. Services

COMPETITORSShare KhanICICI Web Trade Ltd5paisa.comKotak Securities LtdIndia BullsMotilalOswal Securities HDFC Securities Ltd

INDUSTRY ANALYSIS USING PORTER’S 5 FORCES MODEL:

27

1. SUPPLIERS:

NSDL & CSDL are the regulatory bodies for depository participants like SSKI,

SHCIL, and ICICIdirect.com etc. Also these regulatory bodies have got an upper

hand as the bargaining power of stock broking houses like Anagram etc. would be

less.

NSE & BSE are playgrounds where investors trade through stock broking houses

for which they have to take permission from NSE/BSE.

NSE & BSE are under the purview of SEBI that’s why stock broking houses like

Anagram have low bargaining power. But here there is one advantage that

NSE/BSE have i.e. they cannot go for forward integration.

MCX & NCDEX are stock exchanges which trade in commodities and

derivatives. Here again stock broking houses have to follow rules and regulations

of the same.

Web maintainers are companies which maintain web sites & technical aspects of

the same. Here stock broking houses like Anagram can have more bargaining

power due to stiff competition among web maintaining companies.

Web maintainers are companies who make and maintain soft wares for stock

broking houses. If say for example stock broking houses switches over to other

web maintainers then that company cannot understand the mechanisms of

software. So it is quite high switching cost.

28

2. BUYERS:

There are various types of investors who trade through stock broking houses like

Anagram which includes investors like small investors, medium net worth

investors, business partners, institutional investors and mutual fund companies.

Here the bargaining power of stock broking houses depends on how big the

investor is.

So here we can say that bargaining power of stock broking houses is high in case

of small investors & HUFs.

While it is less in case of mutual fund companies and institutional investors.

There is competitive buzz in stock broking industry; competitors are offering low

brokerage and best services with added feature. So switching cost is pretty much

less. So the buyer can easily switch over to competitors product.

3. COMPETITORS:

The company is facing the competition from local as well as national level players.

The local players provide facility for off-line trading while the national players like

ICICIdirect.com, Share Khan and Kotakstreet.com, HDFC Security provides

online trading services.

There are also other big names like Indiabulls, MotilalOswal, 5paisa and Marwadi

encircles the company from both the sides by providing online and off-line trading

with competitive services.

4. POTENTIAL ENTRANTS:

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New entrant that may take away the share of current players.

Nationalized banks are also thinking to enter in this field by tying up with broking

houses. E.g. Bank Of Baroda.

5. SUBSTITUTES:

Here substitutes are such instruments that can be used instead of investing in

shares.

The instruments like Bank FD, insurance, mutual funds are the substitutes.

If the use of these instrumentswill increase, this may be disadvantage for the stock

broking houses.

The companies and banks that are having these instruments can plunge into this

industry.

Banks are planning to jump while others may come.

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BRIEF PROFILE:

31

Name of Company : ANAGRAM STOCK-BROKING LIMITED

Address of Office : 240, MadhavDarshan Complex,

Waghawadi Road, Kalanala,

Bhavnagar – 364001.

Address of registered Office : Anagram house, H.L. Commerce Collage-

Stadium Road, Near Commerce Six Circle,

Navrangpura, Ahmedabad – 380009.

Year of Establishment : 1993.

Owner of Company : Lalbhai Group.

Board of directors : Ajay Saraogi.

V. K. Sharma

Mayank Shah

Fax : (0278) 3001253

Telephone No : (0278) 2522625, 2525802, 2525803.

Website : www.anagram.co.in

Anagram stock-broking limited is a part of the illustrious 2000 croreLalbhai group. Anagram is a

member of NSE, BSE, MCX, NCDEX, ASE, and a depository participant with NSDL. It is,

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today, one of India’s largest leading stock-broking houses. It offers a wide range of services for

the discerning equity investor, in addition to online account access & real time trading.

Anagram stock-broking limited has 90000+ satisfied customers across India& has over 140

branches across India. Anagram is a member of NSE (registration number INB-230597630).

Even since its foundation in 1993, Anagram securities have always focused on needs of retail

client. Last year, billings crossed 17000 crores with around 5000 people making their trades

through Anagram.

MARKET OF ANAGRAM

The investment philosophy of ANAGRAM STOCK-BROKING LIMITED focuses primarily on

recommending purchases in financially sound companies at reasonable market prices. Anagram

recognizes that every individual is unique in terms of his investment time horizon, investment

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objectives, personal financial situations, level of interest & inclination in the investment decision

making process & risk-taking ability.

A team of highly skilled analysts & experienced investment professionals will be constantly

monitoring a population of potential investment in companies so as to buy & sell on the basis of

analytically derived risk / return ratios. The population of companies has been selected based on

many quantitative & qualitative benchmarks.

Anagram introduces a set of premium services which are as follows.

Chinta’s Call.

Anagram Mutual Fund digests.

Evening review.

Weekend wrap.

Investment calls.

Money pore times.

Event reports.

Latest results.

Sector reports.

AREA OF EXPERTISE:

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Anagram offers real time trading opportunities on the BSE as well as the NSE. It also offers

depository and online services to clients for account accessing and information through its online

portal catering to the needs of mobile trader as well as the net savvy investor. Anagram offers

state-of –the–art online trading through its website. Regular updates during trading hours, and

access to information, analysis and research, and a range of monitoring tools is available. The

company has steadily building up a comprehensive portfolio of products and services apart from

conventional broking. High speed anywhere trading through the net, online depository services,

commodities trading and retail debt products are increasingly areas of special emphasis for the

company.

RESEARCH:

Anagram is a research driven organization. Daily call is its morning newsletter that takes a

trading call on the market and gives a ringside view of the overnight national and international

events. Customers get real time feeds on news, comments and recommendations through instant

messaging that are of utmost essence to the serious trader. The weekly watch delivered to all the

clients every saturday evening is the most comprehensive reports of its kind. The report

summons developments over the past week, major economic talking points, summary on

derivatives markets, technical outlook and trading ideas for the forthcoming week and

fundamental investments with an exhaustive research report for a medium to long term horizon.

On the commodities side, it releases daily and weekly reports providing outlook on international

agri-commodities.

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INSURANCE:

Life insurance products are absolutely necessary like providing shelter for your family or

education to your children. Life insurance is the only financial instruments which take care of the

standard of living and financial stability to the family in case of eventuality of disability or death.

The main qualities of insurance are safety, protection and return. Life insurance is the only

product which covers you during all cycles of your life and beyond. It is important to plan while

you are earning, to safeguard yourself and your family against all unexpected odds. The

company give services available at zero cost through pan India network branches.

MUTUALFUNDS:

Anagram provides a host of services for customers investing in mutual funds. It offers wide

range of services like, rankings of different mutual fund schemes, list of new schemes issued in

the market, interviews with fund managers, Insta-Nav - a quick search based application that

enables customers to get the related information about the desired scheme, Primer – a brief

description about mutual funds, RBI procedural guidelines and a Risk Profiler – which helps the

customers in ascertaining one’s own profile, thus minimizing risk.

ADVISORY SERVICES:

Apart from broking business, Anagram is also engaged in offering advisory services of

investments into mutual funds, primary market, life insurance and other small saving products.

The distribution services add up to their broking business and are serviced by experts at each

location. The business is supported by an efficient research and back office team. Anagram’s set

of diligent advisors helps its customers plan and get more out of one’s money.

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The schemes include, fixed income, bank fixed deposits, and company fixed deposits, small

savings schemes, tax saving schemes and NRI deposits. Anagram also provides tax planning

services – where a list of tax saving schemes and a forum for Q&A where the queries are

answered by the tax advisors; and an NRI advisory body, where it provides information for NRIs

in helping them makes judicious investment decisions.

LOAN ADVISORY:

Anagram also provides advisory services on the loan schemes of certain banks to its customers.

The schemes include, home loans, adhoc loans, professional loans, educational loans, consumer

loans and auto loans. Its advisory services are classified into four categories namely; Primers –

giving an overview about all schemes that are available, Calculators – where it helps the

customers with quick calculators, Jargon Buster – a translator and Digital Advisors – which help

in making decisions easy. It has entered into partnership with many leading banks in providing

this facility.

PERFORMANCE:

The Company registered strong growth during the first 10 months of 2009. The company added

26,460 domestic customer accounts in 2009 as compared to 25,295 in 2008. Number of

terminals, sub brokers and employees almost doubled during this period.

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GROWTH AREAS:

Anagram has diversified its business to other areas such as portfolio management services and is

looking forward at opening overseas branches. It plans to introduce company fixed deposits and

merchant banking to its current offerings. It is also aiming at increasing their institutional client

base, acquiring new business/brokerage firms and also entering into joint venture operations in

the near future. The firm has its roots in Western India especially Gujarat where it is the biggest

player. But it has expanded considerably.

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39

INTRODUCTION:

This research has been conducted to find out the future scenario of E-Broking.

In the past, investors had no option but to contact their broker to get real time access to market

data. The Net brings data to the investor on line and net broking enables him to trade on a click.

Now information has become easily accessible to both retail as well as big investors.

RESEARCH OBJECTIVES:

There must an objective behind any research. Without objective there is no meaning of research.

The purpose of research is to discover answers to questions through the application of scientific

procedures. The main aim of research is to find out the truth which is hidden and which has not

been discovered yet. As each research has some or the other objectives, the following are the

objectives of this research:

The main objective of this research is to find the future scenario of E-Broking.

It will also measure the awareness of online trading in the market of the city.

It aims at finding the consumers awareness of E-broking and interest in online trading.

To know the future potential customer for broking industry.

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RESEARCH DESIGN :

For any researcher, the research design is the most important criteria to decide before the actual

research process starts.

There are many methods for conducting the research some of them are as under:

a) Descriptive vs. Analytical

b) Applied vs. Fundamental

c) Quantitative vs. Qualitative

d) Conceptual vs. Empirical

e) Field setting or laboratory testing research

The design of a research is a plan or a model that helps researcher to conduct a formal

investigation and survey. It is an application of methods and procedures for acquiring the

information needs for getting a desire out come. It decides the sources of data and methods for

gathering data. A good design insures that the information obtained is relevant to the research

question and that it was collected by objectives. Since, research design is simply the frame work

or plan for a study. It is a blue print that of a house devised by an architect. My approach to

research is descriptive and quite specific.

Out of these all research methods the research method, which was most suitable to my research,

was descriptive research because it provides me all the opportunities to cover the all the aspects

that I require to conduct the research and get an appropriate out come.

Descriptive research:Descriptive research includes surveys and fact – finding enquires of

different kinds. The major purpose of descriptive research is description of the state of affairs as

it exits at present. In social science and business research we often use the term Ex post facto

research for descriptive research studies. The main characteristic of this method is that the

researcher has no control over the variables; he can only report what has happened or what is

happening.

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HYPOTHESIS:

Hypothesis is usually considered as the principal instrument in the research. Ordinarily when one

talks about hypothesis, one simply means a mere assumption or some supposition to be proved or

disproved. But for a researcher, hypothesis is a formal question that he intends to resolve. Thus

“a hypothesis may be defined as a proposition or a set of propositions set forth as an explanation

for the occurrence of some specified group of phenomena either asserted merely as a provisional

conjuncture to guide some investigation or accepted as highly probable in the light of established

facts.”

Types of Hypothesis:

Null Hypothesis and Alternate Hypothesis:

Alternate hypothesis is usually the one which one wishes to prove and the null hypothesis is the

one which one wishes to disprove. Thus a null hypothesis represents the hypothesis we are trying

to reject and alternate hypothesis is all other possibilities.

Hypothesis of the Study:

H0: “There is a very high scope of E-broking in future.

H1: “There is very less scope of E-broking in future.

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SCOPE OF THE STUDY:

For any researcher it is always a good to check the visibility of the research that he or she is

going to conduct because that will add some purpose and intensity in the mind of a researcher for

doing a research more seriously and sincerely which will at last will effect the out comes of the

research.

The company could get to know about its stand among the other players in the market of

the city.

The company could get to know the priorities for investing their cash and kind.

Company will know about the mindset of the potential investor.

Along with this, also familiar with the awareness prevailing among the investor regarding

e-broking and its future scope.

DATA COLLECTION:

The task of data collection begins after a research problem has been defined and research

design/plan chalked out. While designing about the method of data collection to be used for the

study, the researcher should keep in mind two types of data.

1) Primary Data:

The data, which are collected for the first time, directly from the respondents to the base of

knowledge & belief of the research, are called primary data. The normal procedure is to

interview some people individually or in a group to get a sense of how people feel about the

topic. So far as this research is concerned, primary data is the main source of information. The

data collected is through questionnaire & information provided by the respondent.

2) Secondary Data:

When data are collected & compiled in a published nature, it is called secondary data. So far as

this research is concerned; Internet & many magazines and the brochures have been referred to.

SAMPLING PROCESS:

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It is true that it is very difficult to do the research with the whole universe. As we know that it is

not feasible to go for population survey because of the numerous customers and their scattered

location. So for this purpose sample size has to be determined well in advance and selection of

sample also must be scientific so that it represents the whole universe.

So far as this research is concerned, the sample size is of 100 respondents of Bhavnagar city.

MODE OF DATA COLLECTION:

Personal visit & filling up of the questionnaire, with little bit of observation.

Sample Universe Bhavnagar city & near areas

Sampling Technique Stratified Random Sampling

Sample size 100 respondents

Research Instrument A structured formatted questionnaire

Taking into consideration that the research instrument selected by me was the questionnaire

because it gives more flexibility in terms of collection of the data and one has a chance to meet

the responder personally and have an idea of getting an important unknown data that can be

collected through their behavior.

LIMITATIONS OF THE STUDY:

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The limitations of this study are as follows:

Personal Bias:

Some respondents may have had personal bias due to which they may not have given the correct

information and due to which the right conclusion may not be have been derived at.

Area:

The area was limited only to Bhavnagar city. The result may have varied, if it was conducted

somewhere else.

Sample Size:

The Sample size taken is only 100 which may not result in very accurate results.

Human Constraints:

The human constraints were also important limitation because the type of random sample that

has been taken for conducting the research.

Time Limit:

The time limit taken for conducting the research was very less it could also be one of the

limitations of the study.

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DATA INTERPRETATION & ANALYSIS:

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There are lots of players in the market including number of broker and sub brokers in the market.

In this technological era, each player in this industry taking the maximum benefit of technical

aspects by means of e-broking i.e. e-trading. The study may not include the sub brokers as for the

shake of convenience; I restricted my survey taking into consideration their name, fame & also

the products and services they give to their customers the services such as trading on phone, low

brokerage, low trade charges, the funding facilities, the deposit ratios etc. This survey is

especially focused on the awareness about the e-broking and its future in the potential market.

For any researcher, it is important that how one has analyzed his or her data in way that it can be

clearly interpreted by him and the proper results can be derived.

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The interpretation that follows in the questions below is with reference to the actual

number of respondents as shown in Graph.

Q –2)Age: □ 21-35 □ 36-50 □ 51-65 □ Above 66

Analysis and Interpretation:

The Sampling technique was Random sampling so there is no fixed number of respondents for

the specific age group. The research interprets that the age of 36-50 are the highest respondent

and the group of above 66 are the lowest respondents. The area which was selected by me for

survey was Bhavnagar.

21 - 3533%

36 - 5041%

51 - 6519%

ABOVE7%

21 - 35

36 - 50

51 - 65

ABOVE

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Q- 3)Occupation:

□ Professional □ Businessman □ Govt. Servant

□ Employee □Others______

Analysis and Interpretation:

The research done has highest respondents from the businessman side followed by the govt.

servant and employees, professionals and others so on. Most of the people are businessman and

govt. servant and from profession side 20% people are there. And 15% are employee and remain

are others.

Professional19%

Busi. man38%

Govt. Servant20%

Employee15%

Others8%

Professional

Businessman

Govt. Servant

Employee

Others

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Q- 4)Yearly Income:

□Less than 1 lakh □1 lakh to 2 lakhs □2 lakhs to 3.5 lakhs

□3.5 lakhs to 5 lakhs □5lakhs or more

Analysis & interpretation:

Yearly income is directly linked with the profession of the persons i.e. if businessman then their

approximated income is more than 3.5 lakhs per annum and accordingly. And there are also

some respondents who have less then 1 lakh income.

Less than 1 lakhs9%

1 to 2 lakhs17%

2 to 3.5 lakhs23%3.5 to 5 lakhs

19%

5 lakhs or more32%

Less than 1 lacs

1 to 2 lacs

2 to 3.5 lacs

3.5 to 5 lacs

5 lacs or more

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Q – 6)Do you invest?

□Yes □No

Yes97%

No3%

Yes

No

Analysis and Interpretation:

The research shows that most of the people want to invest their valuable cash and kind in one

way or the other to get the secured and regular returns. The investors are always in the search of

the measures or the techniques which will give them the best and the fastest returns along with

the safety and liquidity now and then when required by the customers.The main reason of any

investment is to appraise the principal amount and to increase the marketability or the liquidity.

The investment can be of any kind depending on the person’s capability and risk bearing

capacity.

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Q-7) if yes, then what are your criteria for investment? (Tick Mark them)

□Gold □Real Estate □ Stock Market

□Mutual Fund □Bank FD □RBI Bonds

□NSC etc… □Others ________

Bank FD25%

Stock market24%

Gold15%

Real Estate11%

RBI Bond6%Mutual Fund

8%NSC3%

Others8%

Bank FD Stock market Gold Real Estate RBI Bond Mutual Fund NSC Others

Analysis and Interpretation:

The research conducted interprets that out of the hundred respondents 24% people believe that

Stock Market is a best options for the investment, 25% of people believe that Bank FD is a good

option and 15% of people think that Gold is a good option of investment and 11% of people feel

that Real estate is a good option of investment and 8% of people feel that mutual funds are the

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good for investment and 11% of people think that NSC and other options of investment are also

better.

Q-8) Among the investment criteria do you believe that Share Market is one of the best

options to invest in?

□ Yes □ No

Yes72%

No28%

Yes

No

Analysis and Interpretation:

From the research undertaken and data collected it can be seen that the 72 people out of 100

only states that stock market is a best option to invest in but the rest 28 people states stock

market is not a good option for investing may be because of past bad experiences or may be

they don’t believe in short term gains or may also be that they don’t have enough knowledge

of share market.

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Q-9) Are you aware about the following Stock Broking Houses?

□ Anagram □ Marwadi □ Share Khan

□ 5paisa □ Indiabulls □ ICICI

□ HDFC □ Kotak □ Indiainfoline

□ Others _____________

Analysis and Interpretation:

Out of the awareness of the share broking houses in the city, Anagram bears the highest

awareness followed by Marwadi then Share Khan then Indiabulls and are at the same level,

Anagram23%Marwadi15%

Share khan14%

5 paisa6%

ICICI7%

HDFC4%

Indiabulls14%

Indiainfoline8%

Kotak2%

Others7%

Anagram Marwadi Share khan5 paisa ICICI HDFCIndiabulls Indiainfoline KotakOthers

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followed by ICICI, then Indianinfoline and the HDFC and 5Paisa.com at the same level

followed by the Others small sub-brokers. Kotak has a low awareness in the market is 2%.

Q -10) Are you aware about E-Broking?

□ Yes □ No

Analysis and Interpretation:

The analysis shows that most of the people are aware about E-Broking. It can be noted the

87% of the respondents are aware about the E-Broking and remaining 13% of the

respondents are not aware about what is the E-Broking. They are potential investors having

very big portfolio and they are unaware about E-Broking and their facilities.

Yes87%

No13%

Yes

No

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Q - 11) If yes, then which features of the E-Broking you like the most? Why?

Fast accessing of the trading and getting the delivery or square off in the intra-day trading is one

of the best features of the E-Broking.

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Q - 12) Is there any lacking in E-Broking?

□ Yes □ No

Yes37%

No63%

Yes

No

Analysis and Interpretation:

Just like any industry or technology, E-Broking also has pros and cons. 37% of the persons

believe that there are some lacking in the E-Broking and it is a very badly for E-broking. And

63% are against it i.e. there is no lacking in features of E-Broking it shows that they are satisfied

by the features and services of the E-Broking and Happy with E-Broking.

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Q - 13) If yes, then specifies that…

The groups of persons who believe that there is some lacking in the feature and services provider

by the E-Broking are as,

Internet traffic

Speed of Internet.

Technical problems.

Easy accessibility of Internet.

Problem from the side of ISP.

Internet virus

Some lacking of software.

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14) Which mode of trading alternative do you use?

□Online Trading □Offline Trading

Online34%

Offline66%

Online

Offline

Analysis and Interpretation:

It is earlier mention that most of the persons I have surveyed belongs to government servants and

professionals so they don’t allot special time to visit broking house so they are looking for the

offline broking and remaining who are able to spare time to broking house and has computer and

Internet connectivity at home/office using/accessing online trading.

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Q - 15) Give your comments on future scenario of E-Broking in India.

Future of E-Broking is very bright. As technology is changing just like anything. In coming

future along with your PCs connected with ISP and special services provided by the mobile

company on can easily trade on the mobile, and accessibility is no problem. The way broking

houses providing the services of the E-Broking we can definitely comment that in coming time

E-Broking can cover the wide network and reach to each and every part of the country and

investor who are really interested in share broking gets its most benefit. Thus, it directly affects

the economy of India as ups and downs in the share market directly linked with the Indian

economy.

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From the one and half month experience of my research project with Anagram, I have come to

know a lot of things and it has enhanced my knowledge to a great extent. I found so many good

things, which are very well for the company. But from my point of view, I found some things,

which are really needed to be taken into consideration in Bhavnagar Branch. Some of

recommendations and suggestions given by me are purely based on my study at the Anagram

broking, Bhavnagar. It doesn’t have any kind of bias on my side. They are given are as under.

Company provides well services to their customers which are better than other companies

so investors are coming to the company.

Branch has a big trade room so offline users can come and seat comfortably and can

trade, for that dealers are there for trading.

Investor gets many tips during trading by dealers and the branch head and also on screen

provided by the company research team.

The Company has a very good awareness in the city but still a very big area which are not

aware about the company. So I would like to suggest that company should advertise in

that area about their broking services.

The customers who are current working with Anagram, they complain about trade limit

provided by the branch.

The other thing is that if and only if customer deposits some amount then only they will

be allowed to more trade. So the customers, who play very high jacks on intraday basis,

sometimes would not recommend this.

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It takes to much time to open an account (4 to 5 days). It would also one of the hindrance

for the gaining more customers.

In the city, investors are very sensitive in terms of investment and brochure and template

that are providing by the company is not convenient to them.

Find out big potential customer and encourage them for intraday trading.

Also provide encouragement for the F & O trading.

Company should give advertisement in local newspaper like DivyaBhaskar and other

local newspapers and also put hoardings in near villages of the city so farmers and other

people also can know about the company and can get the more potential customers.

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CONCLUSION:

From the research, it could be concluded that Anagram in all ways as compared with the other

stock broking houses has very good scope in the Bhavnagar city. It provides very good services

to their customers. It has a very less brokerage rate than other broking houses.

Anagram in all ways is good, just that it needs to provide more and better services and fast

services to the customers. It also needs to educate the people of the city especially the once who

could afford a high deposits and wants a margin for his more trading. By this way, the company

can get two folded benefits as it can generate a good amount of brokerage by high volume of

trading and also earn the interest rate on the funding facilities given to the customers.

Still in the city the brand name needs to be emphasized on while marketing & selling the

product. Still the market is not 100% fully aware that what Anagram is and what is E-Broking.

There are so many potential customers for Broking Industry. Still Govt. Servant and Employee

and professionals are investing their money in other components. There are still 61% is the

potential future for share broking. So company has to make more marketing and try to convert

their investment in share market and make more customers. So company not only focuses to their

present customers but also focus on other potential customers.

It could come up with products which cater to all segments of the society after a little cost cutting

than fixing up a standard service for all its customers whose needs vary diversely. Hence, the

research proves the null hypothesis to be wrong & alternate hypothesis to be correct. So first of

all, Anagram has to take initiative & arrange the seminar or class that to at nominal fees and

provides the information about the potentiality and future of e-broking and how easy it was.

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QUESTIONNARE

Sir / Madam,

This survey aims to find out the future scenario of E-broking in stock market. This survey is

carried out purely for the academic purposes. It will be remain highly confidential.

Hope you would spend your valuable time in going through the questionnaire and filling it up.

Your kind contribution is heartily acknowledged.

In anticipation,

Thanking you for your cooperation,

(Pritesh g. maheta)

1) Name:

2) Age: □ 21-35 □ 36-50 □ 51-65 □ Above 66

3) Occupation:

□ Professional □ Businessman □ Govt. Servant

□ Employee □Others______

4) Yearly Income:

□Less than 1 lakh □1 lakh to 2 lakhs □2 lakhs to 3.5 lakhs

□3.5 lakhs to 5 lakhs□5lakhs or more]

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5) Address & Phone No.: ______________________________________

_______________________________________

_______________________________________

_______________________________________

_______________________________________

6) Do You Invest? □ Yes □No

7) If yes than what are your criteria for investments? (Tick Mark them)

□Gold □Real Estate □ Stock Market

□Mutual Fund □Bank FD □RBI Bonds

□NSC etc… □Others ________

8) Among the investment criteria do you believe that Share Market is one of the best options

to invest in?

□ Yes □ No

9) Are you aware about the following Stock Broking Houses?

□ Anagram □ Marwadi □ Share Khan

□ 5paisa □ Indiabulls □ ICICI

□ HDFC □ Kotak □ Indiainfoline

□ Others _____________

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10) Are you aware about E-Broking?

□ Yes □ No

11) If yes, then which features of the E-Broking you like the most? Why?

12) Is there any lacking in E-Broking?

□ Yes □ No

13) If yes, then specify that

14) Which mode of trading alternative do you use?

□Online Trading □Offline Trading

15) Give your comments on future scenario of E-Broking in India.

Thank you for you kind cooperation

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BIBLIOGRAPHY

Research Methodology – C.R. Kothari

Anagram broachers and Templates

www.anagram.co.in

www.nseindia.com

www.bseindia.com

www.google.com

www.balancescorecard.com

en.wikipedia.org

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