trading in stock (shikhar)
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PROJECT REPORTPROJECT REPORT
ONON
COMPARATIVE STUDY BETWEENONLINE SHARE TRADING AND
OFFLINE SHARE TRADING
Towards partial fulfillment of
BACHELOR OF BUSINESS ADMINISTRATION (BBA)
DEPARTMENT OF FINANCE AND CONTROL
SUBMITTED TO: SUBMITTED BY:
ANKITA AGARWAL SHIKHAR GUPTA
Roll No !"!"#!#!##$%
ARYAKUL COLLEGE OF EDUCATION
LUCKNOW
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ACKNOWLEDGEMENT
Every work constitutes great deal of assistance and guidance from the people concerned and
this particular project is of no exception.
A project of the nature is surely a result of tremendous support, guidance, encouragement and
help.
Wish to place on record my sincere gratitude to&&&&&&&&&&&&&and the entire faculty of our
department. I thank them for their constructive help and encouragement throughout the
project. Without their support and guidance taking this would not have been possible.
Also, wish to acknowledge enthusiastic encouragement and support extended to me by my
family members. At last, I would like to thank all the faculty of business management to help
me completing this project.
I am also thankful to my friends who provided me their constant support and assistance.
SHIKHAR GUPTA
oll !o." #$#$%#%#%%&'
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COMPARATIVE STUDY BETWEEN ONLINE SHARE TRADING AND OFFLINE SHARE TRADING
DECLARATION
I do hereby declare that the research report titled "COMPARATIVE STUDY BETWEENCOMPARATIVE STUDY BETWEEN
ONLINE SHARE TRADING AND OFFLINE SHARE TRADINGONLINE SHARE TRADING AND OFFLINE SHARE TRADING#submitted by me in
partial fulfillment of the re(uirement o' B*+lo, o' B-./0+.. A12/0/.3,3/o0, exclusively
prepared and conceptuali)ed by me and is not submitted to any other Institution or *niversity
or published anywhere before for the reward of any +egree+iploma-ertificate. It is the
riginal work of mine and has not been obtained from any other part.
SHIKHAR GUPTA
Roll No: !"!"#!#!##$%
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COMPARATIVE STUDY BETWEEN ONLINE SHARE TRADING AND OFFLINE SHARE TRADING
TABLE OF CONTENT
ACKNOWLEDGEMENT
DECLARATION
E4ECUTIVE SUMMARY
INTRODUCTION
STOCK E4CHANGES
STOCK BROKER
STOCK TRADING
COMPANY PROFILE
OBJETIVE OF THE STUDY
RESEARCH METHODOLOGY
DATA ANALYSIS
FINDINGS
CONCLUSION
RECOMMENDATIONS
LIMITATION
ANNE4URE
o 5UETIONNAIRE
o BIBLIOGRAPHY
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COMPARATIVE STUDY BETWEEN ONLINE SHARE TRADING AND OFFLINE SHARE TRADING
E4ECUTIVE SUMMARY
/he methodological approach to this study is descriptive, because we attempt to identify and
explain variables that exist in a given situation and to describe the relationship that exists
between these variables in order to provide a picture of a particular phenomenon, but not to
ferret out cause0effect relationship. /he primary data was collected through (uestionnaire
filling and by conducting telephonic interviews. /he secondary data was collected from
journals, texts written by renowned marketing gurus of reputed institutes around the world
and the internet.
India has a large chunk of population which is at lower income level and at middle income
level. /here is a need of creating awareness among them for share trading and the tremendous
potential it has. /hey are doing trading on the old methods which were used in the past. !ow
with the advent of technology there are many options available to the traders which they can
use without any fear. /he trend is moving towards the online share trading but still it has a lot
to cover. /he traders are more of young age and middle age and don1t fear from risk taking
but the lack of knowledge doesn1t allows them to do so. 2o the stock broking companies
should take measures to empower the normal investors so that they can trade with the latest
technologies available.
/arget the youth as they are most potential customers of the stock market as their interest
towards stock trading is increasing. /he stock broking companies should educate the
investors by giving them timely help in the form of reports and tips. /he companies should
try to work in more transparent way. 3eople want good services and are ready for paying
extra penny. 3eople prefer Ease of transactions and security. 2o, brokerage companies should
focus on security and making transactions as simple as possible with simple usage of
technology. /he stock broking companies should also go for tie0ups with the leading banks.
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INTRODUCTION
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INTRODUCTION
A STOCK MARKET is a private or public market for the tradingofcompany stock and
derivativesof company stock at an agreed price4 both of these are securitieslisted on a stock
exchange as well as those only traded privately.
3articipants in the stock market range from small individual stock investorsto large hedge
fundtraders, who can be based anywhere. /heir orders usually end up with a professional at a
stock exchange, who executes the order.
2ome exchanges are physical locations where transactions are carried out on a trading floor,
by a method known as open outcry. /his type of auction is used in stock exchanges and
commodity exchangeswhere traders may enter 5verbal5 bids and offers simultaneously. /he
other type of exchange is a virtual kind, composed of a network of computers where trades
are made electronically via traders.
Actual trades are based on an auction market paradigm where a potential buyer bids a
specific price for a stock and a potential seller asks a specific price for the stock. 67uying or
selling at market means you will accept any ask price or bid price for the stock, respectively.8
When the bid and ask prices match, a sale takes place on a first come first served basis if
there are multiple bidders or askers at a given price.
In India there are many stock exchange are working. 7ut out those many two are the most
important and carries the maximum amount of the business these are two stock exchanges are
!2E and 72E.
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http://en.wikipedia.org/wiki/Market_systemhttp://en.wikipedia.org/wiki/Tradehttp://en.wikipedia.org/wiki/Corporationhttp://en.wikipedia.org/wiki/Stockhttp://en.wikipedia.org/wiki/Derivative_(finance)http://en.wikipedia.org/wiki/Security_(finance)http://en.wikipedia.org/wiki/Stock_exchangehttp://en.wikipedia.org/wiki/Stock_exchangehttp://en.wikipedia.org/wiki/Stock_investorshttp://en.wikipedia.org/wiki/Hedge_fundhttp://en.wikipedia.org/wiki/Hedge_fundhttp://en.wikipedia.org/wiki/Trader_(finance)http://en.wikipedia.org/wiki/Open_outcryhttp://en.wikipedia.org/wiki/Commodity_exchangehttp://en.wikipedia.org/wiki/Auctionhttp://en.wikipedia.org/wiki/Market_systemhttp://en.wikipedia.org/wiki/Tradehttp://en.wikipedia.org/wiki/Corporationhttp://en.wikipedia.org/wiki/Stockhttp://en.wikipedia.org/wiki/Derivative_(finance)http://en.wikipedia.org/wiki/Security_(finance)http://en.wikipedia.org/wiki/Stock_exchangehttp://en.wikipedia.org/wiki/Stock_exchangehttp://en.wikipedia.org/wiki/Stock_investorshttp://en.wikipedia.org/wiki/Hedge_fundhttp://en.wikipedia.org/wiki/Hedge_fundhttp://en.wikipedia.org/wiki/Trader_(finance)http://en.wikipedia.org/wiki/Open_outcryhttp://en.wikipedia.org/wiki/Commodity_exchangehttp://en.wikipedia.org/wiki/Auction -
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STOCK MARKET
2tock exchange or bourse is a corporation or mutual organi)ation which provides facilities
for stock brokers and traders, to trade company stocks and other securities. 2tock exchanges
also provide facilities for the issue and redemption of securities, as well as, other financial
instruments and capital events including the payment of income and dividends.
/he securities traded on a stock exchange include" shares issued by companies, unit trusts and
other pooled investment products and 7onds. /o be able to trade a security on a certain stock
exchange, it has to be listed there.
*sually there is a central location at least for recordkeeping, but trade is less and less linked
to such a physical place, as modern markets are electronic networks, which gives them
advantages of speed and cost of transactions. /rade on an exchange is by members only.
A stock exchange is often the most important component of a stock market. /here is usually
no compulsion to issue stock via the stock exchange itself, nor must stock be subse(uently
traded on the exchange. 2uch trading is said to be off exchange or over0the0counter. /his is
the usual way that 7onds are traded.
/he initial offering of stocks and bonds to investors is by definition done in the primary
market and subse(uent trading is done in the secondary market.
Increasingly more and more stock exchanges are part of a global market for securities.
2upply and demand in stock a market is driven by various factors which, as in all free
markets, affect the price of stocks 6see stock valuation8. Although common, the term 9the
stock market9 is a somewhat abstract concept for the mechanism that enables the trading of
company stocks. It is also used to describe the totality of all stocks and sometimes other
securities, with the exception of bonds, commodities, and derivatives. /he term is used
especially to apply within one country as, for example, in the phrase 5the stock market wasSHIKHAR GUPTA, Roll No.: 1212010100!
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up today5, or in the term 5stock market bubble5. 7onds are still traditionally traded in an
informal, over0the0counter8 market known as the bond market. -ommodities are traded in
commodities markets, and derivatives are traded in a variety of markets 6but, like bonds,
mostly 9over0the0counter98.
/he stock market is distinct from a stock exchange, which is an entity 6a corporation or
mutual organi)ation8 in the business of bringing buyers and sellers of stocks and securities
together. :or example, 9the stock market9 in the *nited 2tates includes the trading of all
securities listed on the !;2E, the !A2+Arse.
STOCK E4CHANGE:6
/he stock exchange is the important segment of its capital market. If the stock exchange is
well0regulated function smoothly, then it is an indicator of healthy capital market. If the
state of the stock exchange is good, the overall capital market will grow and otherwise it
can suffer a great set back which is not good for the country. /he government at various
stages controls the stock market and the capitals market.
A $%&'(%l )%*+( -%l '/ '/%/$'%l %(, $l-'/3 $o'/ %/- $**/$4.7anking accounts
compromises the majority of financial assets. 3ension and provident funds insurance policies
shares and securities. :inancial assets are claim of holders over issuer 6business firms and
governments8. /hey enter low different segment of financial market. /hose having short
maturities that are non transferable like bank savings and current accounts set the
identification of the monetary financial assets. /his market is known as money market,
E(uity, 3referential shares and bonds and debentures issued by companies and securities
issued by the government constitute the financial assets, which are traded in the capital
market.SHIKHAR GUPTA, Roll No.: 1212010100!
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MONEY MARKET AND CAPITAL MARKET:6
Bo3* 2o0+7 2,8+3 01 9/3l 2,8+3 o0.3/3-3+ 3*+ '/00/l 2,8+3 -apital market
generally known as stock exchange. /his is a institution around which every activity of
national capital market revolves. /hrough the medium stock exchange the investor gets on
impetus and motivations to invest in securities without which they would not be able to
li(uidate the securities. If there would have been no stock exchange many of the savers would
have hold their saving either in cash i.e. idle or in bank with low interest rate or low returns.
/he stock exchange provides the opportunity to investors for the continuous trading in
securities. It is continuously engaged in the capital mobili)ation process.
Another conse(uence of non0existence of stock exchange would have been low saving of the
community, which means low investment and lower development of the country.
2 0 2ecurities provide for investor.
/ 0 /ax 7enefits planning and exemption.
0 ptimum return on investment.
- 0 -autious Approach.
? 0 ?nowledge of @arket.
Ex 0 Exchange of 2ecurities /ransacted.
- 0 -yclopedia of =isted -ompanies.
0 igh ;ield.
A 0 Authentic Information
! 0 !ew Entrepreneur encouraged.
B 0 Buidance of Investor C -ompany.
E 0 E(uity
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HISTORY OF THE STOCK MARKET
In #$th century :rance the courratiers de change were concerned with managing and
regulating the debts of agricultural communities on behalf of the banks. As these men also
traded in debts, they could be called the first brokers. 2ome stories suggest that the origins of
the term 5bourse5 come from the =atin bursa meaning a bag because, in #'c. 7ruges,the sign
of a purse 6or perhaps three purses8, hung on the front of the house where merchants met.
owever, it is more likely that in the late #'th century commodity traders in 7ruges gathered
inside the house of a man called Dan der 7urse, and in #'% they institutionali)ed this until
now informal meeting and became the 57ruges 7ourse5. /he idea spread (uickly around
:landers and neighboring counties and 57ourses5 soon opened in Bhent and Amsterdam.
In the middle of the #'th century Denetianbankers began to trade in government securities. In
#' the Denetian Bovernment outlawed spreading rumors intended to lower the price of
government funds. /here were people in 3isa, Derona, Benoaand:lorencewho also began
trading in government securities during the #Fth century.
/his was only possible because these were independent city states not ruled by a duke but a
council of influential citi)ens. /he +utch later started joint stock companies, which let
shareholdersinvest in business ventures and get a share of their profits 0 or losses. In #G%$,
the+utch East India -ompany issued the first shares on the Amsterdam 2tock Exchange. It
was the first company to issue stocksandbonds.
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http://en.wikipedia.org/wiki/Brugeshttp://en.wikipedia.org/wiki/Venicehttp://en.wikipedia.org/wiki/1351http://en.wikipedia.org/wiki/Pisahttp://en.wikipedia.org/wiki/Veronahttp://en.wikipedia.org/wiki/Genoahttp://en.wikipedia.org/wiki/Florencehttp://en.wikipedia.org/wiki/Joint_stock_companyhttp://en.wikipedia.org/wiki/Shareholderhttp://en.wikipedia.org/wiki/Dutch_East_India_Companyhttp://en.wikipedia.org/wiki/Amsterdam_Stock_Exchangehttp://en.wikipedia.org/wiki/Stockhttp://en.wikipedia.org/wiki/Bond_(finance)http://en.wikipedia.org/wiki/Brugeshttp://en.wikipedia.org/wiki/Venicehttp://en.wikipedia.org/wiki/1351http://en.wikipedia.org/wiki/Pisahttp://en.wikipedia.org/wiki/Veronahttp://en.wikipedia.org/wiki/Genoahttp://en.wikipedia.org/wiki/Florencehttp://en.wikipedia.org/wiki/Joint_stock_companyhttp://en.wikipedia.org/wiki/Shareholderhttp://en.wikipedia.org/wiki/Dutch_East_India_Companyhttp://en.wikipedia.org/wiki/Amsterdam_Stock_Exchangehttp://en.wikipedia.org/wiki/Stockhttp://en.wikipedia.org/wiki/Bond_(finance) -
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PREDOMINANT FUNCTION OF STOCK MARKET
RAISING CAPITAL FOR BUSINESSES
/he 2tock Exchange provides companies with the facility to raise capital for expansion
through selling shares to the investing public.
MOBILIING SAVINGS FOR INVESTMENT
When people draw their savings and invest in shares, it leads to a more rational allocation of
resources because funds, which could have been consumed, or kept in idle deposits with
banks, are mobili)ed and redirected to promote business activity with benefits for several
economic sectors such as agriculture, commerce and industry, resulting in a stronger
economic growth and higher productivity levels.
FACILITATE COMPANY GROWTH
-ompanies view ac(uisitions as an opportunity to expand product lines, increase distribution
channels, hedge against volatility, increase its market share, or ac(uire other necessary
business assets. A takeover bid or a merger agreement through the stock market is the
simplest and most common way to company growing by ac(uisition or fusion.
REDISTRIBUTION OF WEALTH
7y giving a wide spectrum of people a chance to buy shares and therefore become part0
owners 6shareholders8 of profitable enterprises, the stock market helps to reduce large income
ine(ualities. 7oth casual and professional stock investors through stock price rise and
dividends get a chance to share in the profits of promising business that were set up by other
people.
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CORPORATE GOVERNANCE
7y having a wide and varied scope of owners, companies generally tend to improve on their
management standards and efficiency in order to satisfy the demands of these shareholders
and the more stringent rules for public corporations by public stock exchanges and the
government. -onse(uently, it is alleged that public companies 6companies that are owned by
shareholders who are members of the general public and trade shares on public exchanges8
tend to have better management records than privately0held companies 6those companies
where shares are not publicly traded, often owned by the company founders andor their
families and heirs, or otherwise by a small group of investors8. owever, some well0
documented cases are known where it is alleged that there has been considerable slippage in
corporate governance on the part of some public companies
CREATES INVESTMENT OPPORTUNITIES FOR SMALL INVESTORS
As opposed to other businesses that re(uire huge capital outlay, investing in shares is open to
both the large and small stock investors because a person buys the number of shares they can
afford. /herefore the 2tock Exchange provides an extra source of income to small savers.
GOVERNMENT RAISES CAPITAL FOR DEVELOPMENT PROJECTS
/he Bovernment and even local authorities like municipalities may decide to borrow money
in order to finance huge infrastructure projects such as sewerage and water treatment works
or housing estates by selling another category of securities known as bonds. /hese bonds can
be raised through the 2tock Exchange whereby members of the public buy them. When the
Bovernment or @unicipal -ouncil gets this alternative source of funds, it no longer has the
need to overtax the people in order to finance development.
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IMPORTANCE OF STOCK MARKETS
FUNCTION AND PURPOSE:
Hust as it is important that networks for transport, electricity and telecommunications function
properly, so is it essential that, for example, payments can be transacted, capital can be saved
and channeled to the most profitable investment projects and that both households and firms
get help in handling financial uncertainty and risk as well as possibilities of spreading
consumption over time. :inancial markets constitute an important part of the total
infrastructure for every society that has passed the stage of largely domestic economies.
/he financial system performs three main tasks" firstly, it handles transfer of payments4
secondly, it channels savings to investments with a good return for future consumption4 and
thirdly, it spreads and reduces 6local enterprise8 economic risks in relation to the players9
targeted returns 6but note that systemic risk is not thereby reduced it merely becomes less
concentrated and uneven8. @oreover, unforeseen risks, or catastrophic risks 6such as the
complete collapse of the financial system or government institutions8, may not be capable of
being spread, or insured against.
/he smooth functioning of all these activities facilitates economic growth in that lower costs
and enterprise risks promote the production of goods and services as well as employment. In
this way the financial system contributes to increased prosperity.
/he stock market is one of the most important sources for companies to raise money.
Experience has shown that the price of shares and other assets is an important part of the
dynamics of economic growth. ising share prices, for instance, tend to be associated with
increased business investment and vice versa. 2hare prices also affect the wealth of
households and their consumption. /herefore, central banks tend to keep an Argus eye on the
control and behavior of the stock market and, in general, on the smooth operation financial
system functions. :inancial stability is the raison d9Jtre of central banks.SHIKHAR GUPTA, Roll No.: 1212010100!
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WELL KNOWN STOCK E4CHANGES
/his is a list of stock exchanges that offers trading in securities besides trading in future
contracts are "0
!ew ;ork 2tock Exchange
/okyo 2tock Exchange
!A2+A3*
-ompanies view ac(uisitions as an opportunity to expandproduct lines, increase distribution
channels, hedge against volatility, increase its market share, or ac(uire other necessary
business assets.Atakeoverbid or amerger agreement through the stock market is one of the
simplest and most common ways for a company to grow by ac(uisition or fusion.
? R+1/.3,/;-3/o0 o' >+l3*
2tock exchanges do not exist to redistribute wealth. owever, both casual and professional
stock investors, throughdividends and stock priceincreases that may result in capital gains,
will share in the wealth of profitable businesses.
$ Co,9o,3+ =o+,00+
7y having a wide and varied scope of owners, companies generally tend to improve on their
management standards and efficiencyin order to satisfy the demands of these shareholders
and the more stringent rules for public corporations imposed by public stock exchanges and
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http://en.wikipedia.org/wiki/Economyhttp://en.wikipedia.org/wiki/Company_(law)http://en.wikipedia.org/wiki/Capital_(economics)http://en.wikipedia.org/wiki/Shareshttp://en.wikipedia.org/wiki/Investinghttp://en.wikipedia.org/wiki/Rationalityhttp://en.wikipedia.org/wiki/Deposit_accounthttp://en.wikipedia.org/wiki/Bankhttp://en.wikipedia.org/wiki/Businesshttp://en.wikipedia.org/wiki/Agriculturehttp://en.wikipedia.org/wiki/Commercehttp://en.wikipedia.org/wiki/Industryhttp://en.wikipedia.org/wiki/Economic_growthhttp://en.wikipedia.org/wiki/Economic_growthhttp://en.wikipedia.org/wiki/Productivity_(economics)http://en.wikipedia.org/wiki/Product_linehttp://en.wikipedia.org/wiki/Market_sharehttp://en.wikipedia.org/wiki/Assethttp://en.wikipedia.org/wiki/Takeoverhttp://en.wikipedia.org/wiki/Mergers_and_acquisitionshttp://en.wikipedia.org/wiki/Stock_markethttp://en.wikipedia.org/wiki/Stock_investorhttp://en.wikipedia.org/wiki/Dividendhttp://en.wikipedia.org/wiki/Stock_pricehttp://en.wikipedia.org/wiki/Capital_gainhttp://en.wikipedia.org/wiki/Managementhttp://en.wikipedia.org/wiki/Efficiency_(economics)http://en.wikipedia.org/wiki/Economyhttp://en.wikipedia.org/wiki/Company_(law)http://en.wikipedia.org/wiki/Capital_(economics)http://en.wikipedia.org/wiki/Shareshttp://en.wikipedia.org/wiki/Investinghttp://en.wikipedia.org/wiki/Rationalityhttp://en.wikipedia.org/wiki/Deposit_accounthttp://en.wikipedia.org/wiki/Bankhttp://en.wikipedia.org/wiki/Businesshttp://en.wikipedia.org/wiki/Agriculturehttp://en.wikipedia.org/wiki/Commercehttp://en.wikipedia.org/wiki/Industryhttp://en.wikipedia.org/wiki/Economic_growthhttp://en.wikipedia.org/wiki/Economic_growthhttp://en.wikipedia.org/wiki/Productivity_(economics)http://en.wikipedia.org/wiki/Product_linehttp://en.wikipedia.org/wiki/Market_sharehttp://en.wikipedia.org/wiki/Assethttp://en.wikipedia.org/wiki/Takeoverhttp://en.wikipedia.org/wiki/Mergers_and_acquisitionshttp://en.wikipedia.org/wiki/Stock_markethttp://en.wikipedia.org/wiki/Stock_investorhttp://en.wikipedia.org/wiki/Dividendhttp://en.wikipedia.org/wiki/Stock_pricehttp://en.wikipedia.org/wiki/Capital_gainhttp://en.wikipedia.org/wiki/Managementhttp://en.wikipedia.org/wiki/Efficiency_(economics) -
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the government. -onse(uently, it is alleged thatpublic companies 6companies that are owned
by shareholders who are members of the general public and trade shares on public exchanges8
tend to have better management records than privately0held companies 6those companies
where shares are not publicly traded, often owned by the company founders andor their
families and heirs, or otherwise by a small group of investors8. owever, some well0
documented cases are known where it is alleged that there has been considerable slippage in
corporate governanceon the part of some public companies. /he dot0com bubble in the early
$%%%s, and the subprime mortgage crisisin $%%L0%K, are classical examples of corporate
mismanagement. -ompanies like 3ets.com 6$%%%8, Enron -orporation 6$%%#8, ne./el
6$%%#8, 2unbeam 6$%%#8, Web van 6$%%#8, Adelphia 6$%%$8, @-I World-om 6$%%$8,
3armalat6$%%'8, American International Broup6$%%K8, =ehman 7rothers6$%%K8, and 2atyam
-omputer 2ervices6$%%8 were among the most widely scrutini)ed by the media.
C,+3/0= /0+.32+03 o99o,3-0/3/+. 'o, .2ll /0+.3o,.
As opposed to other businesses that re(uire huge capital outlay, investing in shares is open to
both the large and small stock investorsbecause a person buys the number of shares they can
afford. /herefore the 2tock Exchange provides the opportunity for small investors to own
shares of the same companies as large investors.
Go+,02+03 9/3l6,/./0= 'o, 1++lo92+03 9,o+3.
Bovernments at various levels may decide to borrow money in order to finance infrastructure
projects such as sewage and water treatment works or housing estates by selling another
category of securities known as bonds. /hese bonds can be raised through the 2tock
Exchange whereby members of the public buy them, thus loaning money to the government.
/he issuance of such bonds can obviate the need to directly tax the citi)ens in order to
finance development, although by securing such bonds with the full faith and credit of the
government instead of with collateral, the result is that the government must tax the citi)ensSHIKHAR GUPTA, Roll No.: 1212010100!
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http://en.wikipedia.org/wiki/Public_companieshttp://en.wikipedia.org/wiki/Privately-held_companyhttp://en.wikipedia.org/wiki/Corporate_governancehttp://en.wikipedia.org/wiki/Dot-com_bubblehttp://en.wikipedia.org/wiki/Subprime_mortgage_crisishttp://en.wikipedia.org/wiki/Pets.comhttp://en.wikipedia.org/wiki/Enron_Corporationhttp://en.wikipedia.org/wiki/One.Telhttp://en.wikipedia.org/wiki/Sunbeam_Productshttp://en.wikipedia.org/wiki/Webvanhttp://en.wikipedia.org/wiki/Adelphia_Communications_Corporationhttp://en.wikipedia.org/wiki/MCI_WorldComhttp://en.wikipedia.org/wiki/Parmalathttp://en.wikipedia.org/wiki/American_International_Grouphttp://en.wikipedia.org/wiki/Lehman_Brothershttp://en.wikipedia.org/wiki/Satyam_Computer_Serviceshttp://en.wikipedia.org/wiki/Satyam_Computer_Serviceshttp://en.wikipedia.org/wiki/Stock_investorhttp://en.wikipedia.org/wiki/Securitieshttp://en.wikipedia.org/wiki/Bond_(finance)http://en.wikipedia.org/wiki/Public_companieshttp://en.wikipedia.org/wiki/Privately-held_companyhttp://en.wikipedia.org/wiki/Corporate_governancehttp://en.wikipedia.org/wiki/Dot-com_bubblehttp://en.wikipedia.org/wiki/Subprime_mortgage_crisishttp://en.wikipedia.org/wiki/Pets.comhttp://en.wikipedia.org/wiki/Enron_Corporationhttp://en.wikipedia.org/wiki/One.Telhttp://en.wikipedia.org/wiki/Sunbeam_Productshttp://en.wikipedia.org/wiki/Webvanhttp://en.wikipedia.org/wiki/Adelphia_Communications_Corporationhttp://en.wikipedia.org/wiki/MCI_WorldComhttp://en.wikipedia.org/wiki/Parmalathttp://en.wikipedia.org/wiki/American_International_Grouphttp://en.wikipedia.org/wiki/Lehman_Brothershttp://en.wikipedia.org/wiki/Satyam_Computer_Serviceshttp://en.wikipedia.org/wiki/Satyam_Computer_Serviceshttp://en.wikipedia.org/wiki/Stock_investorhttp://en.wikipedia.org/wiki/Securitieshttp://en.wikipedia.org/wiki/Bond_(finance) -
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COMPARATIVE STUDY BETWEEN ONLINE SHARE TRADING AND OFFLINE SHARE TRADING
or otherwise raise additional funds to make any regular coupon payments and refund the
principal when the bonds mature.
B,o2+3+, o' 3*+ +o0o27
At the stock exchange, share prices rise and fall depending, largely, on marketforces. 2hare
prices tend to rise or remain stable when companies and the economyin general show signs
of stability and growth. An economic recession, depression, or financial crisis could
eventually lead to a stock market crash. /herefore the movement of share prices and in
general of the stock indexescan be an indicator of the general trend in the economy.
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http://en.wikipedia.org/wiki/Market_(economics)http://en.wikipedia.org/wiki/Economyhttp://en.wikipedia.org/wiki/Economic_recessionhttp://en.wikipedia.org/wiki/Financial_crisishttp://en.wikipedia.org/wiki/Stock_market_crashhttp://en.wikipedia.org/wiki/Stock_indexhttp://en.wikipedia.org/wiki/Market_(economics)http://en.wikipedia.org/wiki/Economyhttp://en.wikipedia.org/wiki/Economic_recessionhttp://en.wikipedia.org/wiki/Financial_crisishttp://en.wikipedia.org/wiki/Stock_market_crashhttp://en.wikipedia.org/wiki/Stock_index -
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COMPARATIVE STUDY BETWEEN ONLINE SHARE TRADING AND OFFLINE SHARE TRADING
MANAGEMENT OF STOCK E4CHANGE
M0=+2+03 o' .3o8 +
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COMPARATIVE STUDY BETWEEN ONLINE SHARE TRADING AND OFFLINE SHARE TRADING
SEBI: SECURITIES AND E4CHANGE BOARD OF INDIA
2E7I is the egulator for the 2ecurities @arket in India. riginally set up by the Bovernment
of India in #KK, it ac(uired statutory form in #$ with 2E7I Act #$being passed by the
Indian 3arliament. -haired by *pendra?umar 2inha, 2E7I is head(uartered in the popular
business district of 7andra0?urla complexin @umbai, and has !orthern, Eastern, 2outhern
and Western regional offices in!ew +elhi,?olkata,-hennaiand Ahmadabad.
SHIKHAR GUPTA, Roll No.: 1212010100!
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2E7I 7havan, @umbai ead(uarters of 2E7I
ORGANIATION DETAILS
ead(uarters @umbai, @aharashtra, India
Established #$
Hurisdiction India
ead -hairman
-hairman *pendra?umar 2inha
/erm :ebruary #K, $%## 0
/otal 2taffN#O &$&
OFFICIAL WEBSITE
Website www.sebi.gov.in
http://en.wikipedia.org/wiki/Government_of_Indiahttp://en.wikipedia.org/wiki/Government_of_Indiahttp://en.wikipedia.org/wiki/SEBI_Act_1992http://en.wikipedia.org/wiki/Chandrasekhar_Bhaskar_Bhavehttp://en.wikipedia.org/wiki/Bandra-Kurla_complexhttp://en.wikipedia.org/wiki/Mumbaihttp://en.wikipedia.org/wiki/New_Delhihttp://en.wikipedia.org/wiki/Kolkatahttp://en.wikipedia.org/wiki/Chennaihttp://en.wikipedia.org/wiki/Ahmedabadhttp://en.wikipedia.org/wiki/Mumbaihttp://en.wikipedia.org/wiki/Maharashtrahttp://en.wikipedia.org/wiki/Indiahttp://en.wikipedia.org/wiki/C_B_Bhavehttp://en.wikipedia.org/wiki/Sebi#cite_note-sebi.gov.in-0http://www.sebi.gov.in/http://en.wikipedia.org/wiki/File:Flag_of_India.svghttp://en.wikipedia.org/wiki/Mumbaihttp://en.wikipedia.org/wiki/Maharashtrahttp://en.wikipedia.org/wiki/Indiahttp://en.wikipedia.org/wiki/C_B_Bhavehttp://en.wikipedia.org/wiki/Sebi#cite_note-sebi.gov.in-0http://www.sebi.gov.in/http://en.wikipedia.org/wiki/Government_of_Indiahttp://en.wikipedia.org/wiki/Government_of_Indiahttp://en.wikipedia.org/wiki/SEBI_Act_1992http://en.wikipedia.org/wiki/Chandrasekhar_Bhaskar_Bhavehttp://en.wikipedia.org/wiki/Bandra-Kurla_complexhttp://en.wikipedia.org/wiki/Mumbaihttp://en.wikipedia.org/wiki/New_Delhihttp://en.wikipedia.org/wiki/Kolkatahttp://en.wikipedia.org/wiki/Chennaihttp://en.wikipedia.org/wiki/Ahmedabad -
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FUNCTIONS AND RESPONSIBILITIES OF SEBI:
2E7I has to be responsive to the needs of three groups, which constitute the market"
/he issuers of securities
/he investors
/he market intermediaries.
2E7I has three functions rolled into one body (uasi0legislative, (uasi0judicial and (uasi0
executive. It drafts regulations in its legislative capacity, it conducts investigation and
enforcement action in its executive function and it passes rulings and orders in its judicial
capacity. /hough this makes it very powerful, there is an appeals process to create
accountability. /here is a 2ecurities Appellate /ribunal which is a three member tribunal and
is presently headed by a former -hief Hustice of a igh court 0 @r. Hustice !? 2odhi. A
second appeal lies directly to the 2upreme -ourt.
2E7I has enjoyed success as a regulator by pushing systemic reforms aggressively and
successively 6e.g. the (uick movement towards making the markets electronic and paperless
rolling settlement on /X$ bases8. 2E7I has been active in setting up the regulations as
re(uired under law.
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STOCK BROKERS
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COMPARATIVE STUDY BETWEEN ONLINE SHARE TRADING AND OFFLINE SHARE TRADING
STOCK BROKERS
2E7I registered stock 0 brokers interested in providing Internet based trading services will be
re(uired to apply to the respective stock exchange for a formal permission. /he stock
exchange should grant approval or reject the application as the case may be, and
communicate its decision to the member within thirty calendar days of the date of completed
application submitted to the exchange.
/he Exchange closely monitors outstanding position of top buying member0brokers and top
selling member0brokers on a daily basis. :or this purpose, it has developed various market
monitoring reports based on certain pre0set parameters. /hese reports are scrutini)ed by
officials of the 2urveillance +ept. to ascertain whether a member0broker has built up
excessive purchase or sale position compared to his normal level of business. :urther, it is
examined whether purchases or sales are concentrated in one or more scrips, whether the
margin cover is ade(uate, whether transactions have been entered into on behalf of
institutional clients and even the (uality of scrips, i.e., li(uid or illi(uid is looked into in order
to assess the (uality of exposure. /he Exchange also scrutini)es the pay0in position of the
member0brokers and the member0brokers having larger funds pay0in positions are at times, at
the discretion of the Exchange, re(uired to make advance pay0in on /X# day instead of on
/X$ day.
BASIC RE5UIREMENTS FOR STOCK BROKERS
/rading will be on existing stock exchanges through order routing system for execution of
trades. /herefore, stockbrokers are to comply with the following before the start of trade on
Internet.
#. /he broker must have a net worth of s. &% lakh if he wants to avail the facility of
Internet for his own.
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COMPARATIVE STUDY BETWEEN ONLINE SHARE TRADING AND OFFLINE SHARE TRADING
$. 3rovision for maintenance of ade(uate back up system.
'. /he software system to be used by him should be secured and reliable.
F. /o employ the (ualified staff for this purpose.
&. /o send ordertrade confirmation to the client also through e0mail.
G. /he contract notes must be issued to the clients as per existing regulation within $F
hours of the execution of trades.
L. /he broker and his client should use authentication technologies.
/he above are some of the important pre0re(uisites for the stockbroker should intend to take
benefits of trading on Internet. owever, detailed guidelines issued by the 2E7I for the stock
exchange
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KINDS OF STOCK BROKERS
! Co22/../o0 B,o8+,:0
!ear about all the brokers buy and sell securities for earning a commission for investor point
of view he is the most important person and responsibility is to buy and sell stoke for his
customer. It means that he acts as an agent of investor and earns commission for his services
rendered. /he broker is also an independent dealer in securities. e purchases and sells
securities in his own name but he is not allowed to deal with non0member.
"Jo;;+,"0
e is a professional speculator who works for a profit called turn1 he makes a continuous
auction in the market in the stoke in which he speciali)ed. e trades in the market evens for
small difference in the prices and helps to maintain li(uidity in the stoke exchange.
%Floo, B,o8+,:6
/he floor broker buys and sells shares for the other broker on the floor of the exchange. e is
an individual member owns his seat and receives his own commission on the orders he
execute. e helps other brokers when they are buy and as compensation receives a portion
the broker.
?O11 l/3 1+l+,:6
:or trading in stock exchange there a certain number of share a fixed to be transacted in a lot,
this is known as round lat which is usually a, #%% share a. Any thing less than the round lot
are add lot. If a person is in possession of add lot of share i.e. #%, $%, '%, F% etc. /hey he will
has to look for the add lot dealer.
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COMPARATIVE STUDY BETWEEN ONLINE SHARE TRADING AND OFFLINE SHARE TRADING
$B-1l/>l:6
e is the person who finance or provide credit facilities to the market for this service he
charges a fees called contango or backwardation charges. /he budliwala gives a fully secured
loan for period of $ to ' weeks.
A,;/3,=+-,:6
A person who is specialist in dealing with securities in different stoke exchange centers at the
same time. e makes a profit by the difference in the piece prevailing in different centers of
the market activity. :or example the rte of a certain scrip is higher in some stoke exchange
than other on. In this case the broker will buy the scrip from the marked lower price and will
sell the scrip in the market at higher price. /he profit of the arbitrageur depends on the ability
to get the prices from different centers before trading in other stoke exchanges.
RISK MANAGEMENT IN A BROKING FIRM
isk management in a 7roking Industry is a new concept in India, since it poses maximum
risk in the financial market, managing it was felt most essential by the regulatory bodies and
exchanges. /herefore !2E introduced for the first time in India, risk containment measures
that were common internationally but were absent from the Indian 2ecurities @arket. !2--=
has put in place a comprehensive risk management system, which is constantly upgraded to
pre0empt market failures. /hese measures were taken to reduce the brokers1 risks. Whereas
2E7I has given some guidelines under Investors 3rotection to protect investors risks. !2E
has given the following risk management measures
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COMPARATIVE STUDY BETWEEN ONLINE SHARE TRADING AND OFFLINE SHARE TRADING
STOCK TRADING
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COMPARATIVE STUDY BETWEEN ONLINE SHARE TRADING AND OFFLINE SHARE TRADING
STOCK TRADING
OVERVIEW
/he marketing of the securities on the stock exchange can be done through member of the
stock exchange. /hese members can be either individuals or corporate bodies.
:or the process of trading in stock exchange there is the basic need for a transaction between
an individual and the broker execute customer1s order to buy or sell on the stock exchange
trading ring. /he exchange of scrip between the member of the exchange in from of buying
or selling is called trading
7roker is the member of recogni)ed stock exchange and helps the customers in buying or
selling the securities for the brokerage that he receives.
PROCEDURE OF TRADING
! SELECTION OF BROKER
/he first step is buying or selling of share is to select a broker for transaction business on
behalf of the investor. /he trading of securities on the stock exchange can be done through
members of the exchange.
An investor prefers to select a broker who shall.
Act with due skill. -are and diligence in the conduct of all his business.
!ot create false market either singly or in concert with other.
" OPENING AN ACCOUNT WITH THE BROKER
/he next step is to open account with the broker. It helps the investor to provide his credit
worthiness, if the clients were not to do margin money with the broker.
% SELECTION OF SECURITIES
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COMPARATIVE STUDY BETWEEN ONLINE SHARE TRADING AND OFFLINE SHARE TRADING
/his is application for buying securities. /he investor may be consulted with broker and take
advise for selection of securities.
? SELECTION OF TIME FOR TRADING
/his is important to get the best advantage from buying or selling the securities.
$ PLACING AN ORDER
Darious method of placing an order with the broker has been evolved to give the broker
leverage when he is on the floor of the stock exchange.
PREPARATION OF CONTRACT NOTE
2E7I circular of Fth:eb. ## re(uires that all member of the recogni)ed stock exchange
issue contract note to the investors on the execution of trade. 7rokers, therefore issue contract
note to the client, which gives the name of the company, price of trade, brokerage, time of
execution, provision regarding arbitration etc. in term of the bye0laws of stock exchange, this
is statutory re(uirement and mandatory.
SETTLEMENT
/he settlement is the process where by payment is made by brokers who have made purchase
and share delivery by those brokers who have made sales.
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COMPARATIVE STUDY BETWEEN ONLINE SHARE TRADING AND OFFLINE SHARE TRADING
ONLINE SHARE TRADING
nline share trading is done with the help of computer, internet connection and with trading
or de0mat account is called online share trading, or we can say that online trading is the
trading of securities via the internet. If you would like to do online share trading then you
should have a computer, internet connection and online trading account. It is done via internet
means that all the transaction are settled electronically.
ADVANTAGES:
! /he first and main benefit of this is that in online trading the member does not need to go
to the share market for checking, which consumes a lot of time. All the information about
shares, stock market is just one click away and it has made trading much simple, easy and
attractive.
"+ependence on broker or anybody else is nil for placing or s(uaring off the order. In short
one is hisher own boss for trading of shares.
% Its not possible or viable for a broker to update customers about each and every news of
the market or any news which can have any influence on the share market. 2o if someone is
doing online trading himself, then a disaster can be averted. 3eople can get news and updates
on various websites and also on their online trading system and most of the information will
be free of cost.
? All the transactions and related documents can be seen online and can also be downloaded
to the 3- without depending on any broker. 2tatus of the amount can also be checked on
daily basis through online trading system.
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DISADVANTAGES
#. ne may face a problem of disconnection from internet and hence will not be able to login0
in and do share trading.
$. ne may also face problem like electricity cut0off and at that time one has to call his
broker and place the order for execution.
+ue to all of the above advantages it is clear that the trading in India is spreading like fire and
is surely going to increase in the future.
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COMPARATIVE STUDY BETWEEN ONLINE SHARE TRADING AND OFFLINE SHARE TRADING
OFFLINE SHARE TRADING
In offline trading the transactions are done through the phone and when to buy or sell is
directed through phone. In other words trading will be done by another person on one1s
behalf based on the instructions given by one, and then the other person can be a broker. /he
broker will do buying and selling of shares on one1s behalf depending on the instructions
given by one. /his type of trading was done in the past but nowadays most of the trading is
done through computers i.e. online. E.g. 2uppose that if @r. M wants to sell n number of
shares when the share price reaches s. #%%, then M will tell his broker to sell the share at s
#%% 6i.e. when the price of s. #%% is reached8.
!evertheless, with all the convenience of online trading there are still investors who prefer
the old fashion way of offline trading. ffline trading has lost some popularity but it is still
the main form of investing. O''l/0+ 3,1/0= o''+,. 207 ;+0+'/3. . >+ll
ADVANTAGES:
#. /he one benefit that an investor appreciates the most is that they are not alone when
making investment decisions.
$. /here are experienced and professional brokerage companies that handle their investments
for them.
'. Investors are not faced with the challenge of making these vital investment decisions4
especially, if they do not have the experience necessary to make the appropriate investments.
F. Also, there is someone there to answer any (uestions that may cause concerns.
!ot to mention, with offline trading mistakes are less likely to take place. !o one wants to
throw their money away or stand by and watch someone else throw their money away. It may
be wise to hire a professional to assist you in making the correct investment decisions if you
feel you lack the knowledge necessary.
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COMPARATIVE STUDY BETWEEN ONLINE SHARE TRADING AND OFFLINE SHARE TRADING
/he reason why online trading has emerged is due to the emergence of I/. +oing transactions
online is always advantageous and easy plus less time is taken by doing transactions online.
DISADVANTAGES"
Also following are the 1/.103=+.of doing transactions offline"#. !ot the cheapest fees available.$. =ost some of its competitiveness in attracting new customers with higher commission
rates.'. /ime consuming process.F. 2low process than online trading. A delay of even a second can change the value of a
particular stock greatly.
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COMPARATIVE STUDY BETWEEN ONLINE SHARE TRADING AND OFFLINE SHARE TRADING
DIFFERENCE BETWEEN ONLINE AND OFFLINE TRADING
/ype of competitive pricing for trade fees has not only encouraged investors to trade online,
but it has also changed the way in which people trade. :or instance, investors are now more
likely to make (uick trades and attempt to profit from short0term ownership of stock, since
they do not give away hundreds of dollars each time they make a trade.
Another of the differences between offline and online stock trading has to do with the role of
the stock broker his or herself. Whereas a traditional stock broker provided a certain amount
of management assistance in terms of a trader9s investments, online brokers are decidedly less
hands0on, and online investors have pretty much total control over what they do and when.
3art of this has to do with not being able to provide the individual attention that comes with
the steep commissions that traditional brokers charge traders, and this is another reason why
online traders have to be very informed and up0to0date.
nline stock trading is not going anywhere, and many investors absolutely love the
convenience and value of managing their own investments from the comfort of their homes.
While it is obvious that online trading was an attractive option for many investors, what was
unexpected is how much online trading has changed the strategies investors use.
@ajor advantage one has is offline trading is the help and stock tips guide received by the
dealer. Whereas in online though they get stock tips, but end of it the client is on his own.
Incase of any major ups and downs, the dealer would call and give some personal attention to
the offline client which is not possible for an online client
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COMPARATIVE STUDY BETWEEN ONLINE SHARE TRADING AND OFFLINE SHARE TRADING
COMPANY PROFILE
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FAIRWEALTH SECURITIES PRIVATE LIMITED
:airwealth Broup established in $%%&, is an
investment solutions firm providing
comprehensive investment services in all asset
classes by keeping -lient9s interest foremost, having its corporate office at @umbai and head
(uarters at +elhi !-. It1s a leading stock broking firm who started spreading its network
across India starting initially from +elhi !- in the year $%%&.
:airwealth Broup offers an extensive suite of investment solutions including etail 7roking,
Institutional 7roking, nline /rading, @obile /rading, +epository, +istribution, Insurance,
Wealth @anagement, eal Estate, Advisory, =oans C esearch. :airwealth follows tailor
made approach to cater to various customer 2egment including etail, !I9s, -orporate
ouses, and +omestic C :oreign Institutions. +evising appropriate Investment strategies that
suits Investors 3rofile C Appetite backed by valuable research is :airwealth9s main forte.
PHILOSOPHY
Brow with Intelligence
At :airwealth, we believe in growth which is backed by the detailed analysis and research
which makes us competent advisors to advise our customers over the investments and thus
enhance their wealth. -ustomer9s interest is taken as the foremost thing while making any
transaction at :airwealth. @aking the decisions with intelligence is the key factor which we
follow and create the desired results. +r. 2tock is an uni(ue initiative by :airwealth in this
direction which provides an interactive interface to our clients to guide them about their
investment and the ups and down of the financial market.
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COMPARATIVE STUDY BETWEEN ONLINE SHARE TRADING AND OFFLINE SHARE TRADING
KEY MANAGEMENT
MR DHIRENDER GABA
:ounder C @+, :airwealth 2ecurities =td.
A law graduate and @7A, :inance, @r. +hirender Baba has been associated with the stock
market and its operations since #&. e is since grown to become a reputed figure in the
financial services domain. aving closely worked with the unpredictable nature of trading for
#& years, @r. Baba could foresee the possible opportunities in the sector and thus gave shape
to :airwealth 2ecurities =td. in $%%&.
@r. Baba is valued by clients, competitors and market observers alike for his deep
understanding of the stock market, his analyses and advice to companies, as also his research
in stocks and investments. e is a crafty mind when it comes to long0term investments and
has a profound knowledge of macro and microeconomics. @uch like legends of the field as
Warren 7uffet, @r. Baba buys into the business model of a company and expertly judges the
longevity and growth potential. Among his top priorities are competitive ability, scalability
and management (uality of the enterprise.
*nder his experienced leadership, :airwealth 2ecurities has rapidly expanded and made a
widespread presence felt all over India, seamlessly growing into a financial services company
par excellence.
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COMPARATIVE STUDY BETWEEN ONLINE SHARE TRADING AND OFFLINE SHARE TRADING
MR NAVEEN GABA
+irector, :airwealth
e is a -o0promoter of the -ompany with an Art Braduate, having a wide experience of #L
years. e joined the business as a +irector of :airwealth and took charge of the entire 2ales
marketing and customer support division of the company. is prime area of focus is
institutional business and maintaining investor relations C also responsible for retail business
development. @r. !aveen Baba has been instrumental in encouraging professional marketing
in the organi)ation and has immense experience in the marketing of financial products and
services. *nder his dynamic leadership and experience, :airwealth has opened F%X branches
all over India.
MR ANIL DI4IT
+irector, :airwealth
e has the long experience of #' years in :inancial @arket and has been looking after the
-redit -ontrol +ivision for :airwealth for last #% years. @r. +ixit has been proven as an asset
for the company with time and has become the part of senior management with his sheer hard
work and excellent abilities to outperform in his working areas.
MS ATIMA MANKOTIA
+irector Y uman esources, -orporate 3lanning and -ommunications
An alumni of 2t 2tephen1s -ollege, Atima @ankotia has completed her @7A in uman
esource @anagement from M=I, Hamshedpur. With over $% years of experience in various
industries and organi)ations, she has travelled the world extensively gathering exposure to
international best practices. At the :airwealth Broup she is gearing to add positive new
dimensions to the organi)ation ensuring that it is at par with some of the best in the world.SHIKHAR GUPTA, Roll No.: 1212010100!
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2he brings to the table her vast experience in communication, human resources, people and
organi)ations and has been widely recogni)ed for her professional abilities.
MR PRAKASH THAKKAR
-E
@r. 3rakash /hakkar is a well know name in financial industry and has more than $' years of
vast experience. In his past experience he has served with leading broking houses as +irector
and -E. e has good analytical skills and specially in commodity and currency products.
e has the ability to understand business dynamics and to take prompt decisions, coupled
with his strong leadership background has enabled him to run the entire business.
MR RAKESH GUPTA
3rofessional Advisor, :airwealth
@r. akesh Bupta is a fellow member of the Institute of -hartered Accountants of India
6I-AI8 and has a wide experience of more than #G years in the -apital @arket. e has served
as +irector at 2@-, e has an in0depth knowledge and strong understanding of various
intricacies of :inancial @arket. is ability to understand the business dynamics, coupled with
his sound financial C accounting background and knowledge of marketing channels has
enabled him to manage the entire 7roking perations and 7usiness +evelopment activity of
:airwealth
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MR VIVEK ANAND
Dice 3resident 0 2ales
Divek aj Anand is a recogni)ed and awarded realty leader with over #L years of work
experience in !I, -orporate and -hannel 2ales. e has worked as ead of !I 2ales with
Investors -linic and India omes for over F years and has years of financial market
experience with Aditya 7irla Broup, Apollo Broup and financial domain of Wipro.
2pearheading :airwealth1s ousing foray from scratch, he aims to make the housing domain
the most profitable vertical of the family group
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CORPORATE ETHOS
V/./o0
/o be admired as a financial services enterprise having worldwide presence with global
processes and technology to help accomplish the goals of aspiring investors.
M/../o0
/o be known to protect and enhance client9s wealth with inimitable research
C valuable knowledge.
Vl-+.
RESEARCH-DRIVEN
+ecisions backed up with facts.
ACCESSIBLE & AR!ACHABLE
Always available for our clients C associates
CLIENT-CENTRIC
-lients drive our growth.
ETHICAL C!ND"CT
onesty in every transaction
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OUR REGISTRATIONS
Exchange egistration !o. :@- *ni(ue @embership -ode 6*@-8
@-M #$&%& @-M /-@ -3%FFG
!-+EM %%%$ !-+EM /-@ -3 %KLL
!@-E -l%$%& !@-E /-@ -3 %##
!2E I!7: $'#$L$''K Z 72E I!7%##$L$''F Z @-M02M I!E$G#$L$''K 6:airwealth
2ecurities =td.8 @-M/-@-3%FFG, !-+EM, /-@-3%KLL 6:airwealth
-ommodity 7roking 3vt. =td.8 Z 3@2 egn. !o. I!3%%%%%$K#L
OUR MEMBERSHIPS
!ational 2tock Exchange of India =td.
7ombay 2tock Exchange =td.
@ulti -ommodity Exchange of India =td.
!ational -ommodity C +erivatives Exchange =td.
@-M 2tock Exchange =td.
*nited 2tock Exchange of India
!ational @ulti -ommodity Exchange India =td.
!ational 2pot Exchange =td.
-entral +epository 2ervices India =td.
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PRODUCT @ SERVICES
etail 7roking
Institutional 7roking
nline /rading
+istribution
Insurance
Wealth @anagement
+epository 2ervices
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OBJECTIVE OF THE
STUDY
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OBJECTIVE OF THE STUDY
/he objectives of the proposed study are"
#8 Identify the specific factors that affect investor1s attitudes towards share trading.a8 Identify the specific factors that affect consumer attitudes towards on line and offline
share trading.b8 Identify the specific problems and challenges faced by Investors in online and offline
share trading.$8 -omparison between online and offline share trading methods.
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RESEARCH
METHODOLOGY
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RESEARCH METHODOLOGY
Uesearch design is an arrangement of conditions for collections and analysis of data in a
manner that aims to combine relevance to the research purpose with economy in procedure.V
/he design includes an outline of what the researcher will do from writing the hypothesis and
its operational implications to the final analysis the data.
D3 Coll+3/o0 M+3*o1
+ata collection is a basic step and of vital importance. n which success or failure of the
study depends. All researchers can tap into two sources of data.
3rimary +ata
2econdary +ata
P,/2,7 D3
3rimary data are obtained by a study specifically designed to fulfill the data needs of the
problem at hand. 2uch data are original in character. /hese data are raw material. /hey are
the measurement observed and recorded as a part of original study. /hey are original in
character. /he investigator or researcher directly collects this data. /he basic form of
obtaining this data is by observing and (uestioning.
/he 3rimary data was a detailed interview schedule with the help of a detailed (uestionnaire.
/he samples were drawn purposively from various areas for the relevance of study. T*+
9,/2,7 13 >. oll+3+1 ;7 -./0= 3*+ -+.3/o0+, 2+3*o1
S+o01,7 D3
+ata which are not originally collected but rather obtained from published or unpublished
sources are known as secondary data.
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/hey are not originally drawn by the researcher as fresh data. /hese are collected by some
other person for this purpose and published. /hese types of data can be collected through
various sources.
I0 3*/. 9,+.+03 .3-17 >+ *+ -.+1 9,/2,7 01 .+o01,7 13 .o-,+
5UESTIONNAIRE
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DATA ANALYSIS AND INTERPREATATION
5! Ho> ol1 7o- ,+ /0 S3o8 T,1/0=
I0+.32+03 1+/./o0 P+,+03=+ o' ,+.9o01+03.
#6" Y+,. ""6? Y+,. %"
?6 Y+,. "?
Mo,+ 3*0 7+,. !
A0l7./. 01 /03+,9,+33/o0
:rom the survey it was found that most of the investors are trading since more than $ years.
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5"A3 >*/* ,3+. 1o 7o- >03 7o-, /0+.32+03 3o =,o>
I0+.32+03. =,o>3* ,3+ P+,+03=+ o' ,+.9o01+03.
S3+1/l7 !"
A3 0 +,=+ "
A3 '.3 ,3+ "To3l !##
A0l7./. @ I03+,9,+33/o0::rom the survey it was found that G$R respondents wants their
investment grow at fast rate whereas only $GR respondents were in the favour of investment
growth at average rate.
5% Ho> ',+-+03l7 1o 7o- /0+.3
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F,+-+07 o' /0+.32+03. P+,+03=+ o' ,+.9o01+03.
D/l7 !"
W++8l7 "#
Mo03*l7 %
Y+,l7 %"
To3l !##
A0l7./. @ I03+,9,+33/o0:
:rom the above table C chart it was found that 'GR respondents invest monthly, '$R invest
yearly and there were $%R respondents who invest weekly. /hus, it can be stated that
majority of the investors invest monthly in stock market.
5? W*3 9+,+03=+ o' 7o-, 00-l /0o2+ 1o 7o- /0+.3 /0 .*,+ 2,8+3
A00-l /0o2+ /0+.3+1 P+,+03=+ o' ,+.9o01+03.
U9 3o !# !?
!#6!$ ""
!$6"# ?#
Mo,+ 3*0 "# "?SHIKHAR GUPTA, Roll No.: 1212010100!
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To3l !##
A0l7./. @ I03+,9,+33/o0:
:rom the above table C chart, it was found that F%R respondents invest #&0$%R of their
annual income, $F respondents invest more than $%R of their annual income, $$ respondents
invest up to #%0#&R of their income and #FR respondents invest up to #%R of their income
in different investment avenues. /hus, it can be concluded that majority of investors invest
#%R to $%R of their monthly income.
5$ I0 >*/* +
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5 W*/* 379+ o' 3,1/0= 7o- -.+ 'o, /0+.32+03
O0l/0+ "
O''l/0+ "
A0l7./. @ I03+,9,+33/o0:
@ost of the respondents use offline trading.
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5 W*/* 2o1+ o' 3,1/0= 7o- '++l /. .'+,
O0l/0+ %?
O''l/0+
A0l7./. @ I03+,9,+33/o0:
@ost of the respondents think that ffline trading is safer than the online trading.
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5 Do 7o- o0'/,2 ',o2 7o-, ;,o8+, '3+, 3*+ o,1+, /. +
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5 H+ 7o- '+1 07 /..-+ >*/l+ 3,1/0= o''l/0+
Y+. $
No ?!
A0l7./. @ I03+,9,+33/o0:
@ost of the respondents have faced some issue while trading offline.
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5!# I' Y+. >*3 8/01 o' /..-+ 7o- *+ '+1
S*,+ 9,/+ 1/''+,+0+ ?"
B-.7 3+l+9*o0+ l/0+ %
O3*+,. ""
A0l7./. @ I03+,9,+33/o0:
@ost of the respondents have found price difference issue while placing the order offline.
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5!! Wo-l1 7o- ++, l/8+ 3o .>/3* /03o O0l/0+ T,1/0= 1-+ 3o 3*+.+ /..-+.
Y+.
No %!
A0l7./. @ I03+,9,+33/o0:
@ost of the respondents said that they may think to switch in nline trading after such issues
in trading.
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FINDINGS
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FINDINGS
Investors have full confidence in stock market and they are ready to adopt new
features of stock market.
Investors adopt partial investment strategy and they put some amount of earning in
stock market as part of investment.
@ostly investors still prefer to sit in broker1s office and trade.
ffline trading is still preference for old investors.
!ew age investors love to adopt new technologies and they prefer online trading.
/hough some investors has faced issues while trading offline i.e. late order execution.
2ome investors shown interest in online trading to issues in offline trading.
2ome Investors think that nline trading is cheaper and comfortable.
Investors still have security concern in online trading.
Investors think that offline trading is (uite safe and reliable as it keep them in tough
broker and they get more ideas about investment.
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CONCLUSION
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CONCLUSION
/he retail brokerage industry has experienced a number of changes in recent times,
particularly due to the shift in consumer behavior from using traditional full service
brokerages to discount firms.
7y doing this survey it is found that the consumer attitude towards share trading is very much
positive. /hey are willing to adopt new technology provided they are given proper knowledge
about it. And, brokerage companies which can (uickly adopt new technologies into the
system with reliable and ease in transactions will succeed and can tap greater pie of the
market.
/here are various factors which affect the attitudes of customers towards share trading"
3eople having more income are ready to take more risks and thus schemes should
introduce for them separately.
3eople of age more than &% years are more willing to put their money into bank
deposits. /hey should be targeted basically for the 3@2 as they want more security
and 3@2 till date has given good results.
@ostly old traders still prefer the ffline trading and they don1t want to rely on online
trading.
;outh and middle age don1t hesitate while taking risk. /hey want to earn money very
fast. @iddle aged people are moderate risk takers as they are at an age where they
have to keep many things in their mind and hence they don1t take much risk. ld age
people are low risk takers as they don1t want to lose their money and also they want to
accrue their wealth instead of losing it.
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RECOMMENDATIONS
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RECOMMENDATIONS
#. As it1s been observed that around most of the respondents are using offline trading, so there
is a greater scope to target people, who are not doing stock trading, by aggressive advertising
campaign and creating awareness about the brokerage company highlighting all the benefits
of technology and eliability factor.
$. Another thing that1s been found out during this survey is that people value services more
than cost. 3eople want good services and are ready for paying extra penny.
'. 3eople prefer Ease of transactions and security. 2o, brokerage companies should focus on
security and making transactions as simple as possible with simple usage of technology.
F. /here are some companies which don1t have tie ups with many banks, so that trading
account can be linked with the savings account of the brokerage company. 2o, a focus to go
for tie ups with major nationali)ed bank should be there.
&. -ompanies should provide knowledge to the customers regarding stock market. Aim
should not be making maximum profit at once. /he advantage of this will be that the
customer will trust broker and will recommend to the other people also.
G. /he company should provide a manual to their clients to ease them through the process of
trading.
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LIMITATIONS
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LIMITATION OF STUDY
@ost of the respondents were least interested in (uestionnaire.
All the respondents are of =ucknow city only.
It was difficult to get correct information from some of the people. 2tudy is limited to those traders who trade offline.
/heir response might be bias.
2tudy is limited to :airwealth 2ecurities 3rivate =imited only.
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ANNE4URE
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5UESTIONNAIRE
N2+:
A=+:
O-93/o0:
5! Ho> ol1 7o- ,+ /0 S3o8 T,1/0=
#6" Y+,.
"6? Y+,.
?6 Y+,.
Mo,+ 3*0 Y+,.
5"A3 >*/* ,3+. 1o 7o- >03 7o-, /0+.32+03 3o =,o>
S3+1/l7
A3 0 +,=+
A3 '.3 ,3+
5% Ho> ',+-+03l7 1o 7o- /0+.3
D/l7
W++8l7
Mo03*l7
Y+,l7
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5? W*3 9+,+03=+ o' 7o-, 00-l /0o2+ 1o 7o- /0+.3 /0 .*,+ 2,8+3
U93o !#
!#6!$
!$6"#
Mo,+ 3*0 "#
5$ I0 >*/* +
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COMPARATIVE STUDY BETWEEN ONLINE SHARE TRADING AND OFFLINE SHARE TRADING
5 H+ 7o- '+1 07 /..-+ >*/l+ 3,1/0= o''l/0+
Y+.
No
5!# I' Y+. >*3 8/01 o' /..-+ 7o- *+ '+1
S*,+ 9,/+ 1/''+,+0+
B-.7 3+l+9*o0+ l/0+
O3*+,.
5!! Wo-l1 7o- ++, l/8+ 3o .>/3* /03o O0l/0+ T,1/0= 1-+ 3o 3*+.+ /..-+.
Y+.
No