Mba project

3,167 views
3,051 views

Published on

0 Comments
4 Likes
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
3,167
On SlideShare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
246
Comments
0
Likes
4
Embeds 0
No embeds

No notes for slide

Mba project

  1. 1. “A STUDY ON INVESTOR BEHAVIOUR IN SHARE MARKET WITH REFERENCE TO KOTAK SECURITIES, COIMBATORE MAIN - PROJECT REPORT Submitted by SHRI AVINASH NARENDHRAN S V Reg No: AC10MBF091 In partial fulfillment for the award of degree of MASTER OF BUSINESS ADMINISTRATION IN MARKETING Under the Guidance of K.R.KUMAR DEPARTMENT OF MANAGEMENT STUDIES ADHIYAMAAN COLLEGE OF ENGINEERING(An Autonomous Institution, Affiliated to Anna University of Technology, Coimbatore) Dr. MGR Nagar, Hosur – 635109 APRIL – 2012
  2. 2. CERTIFICATE This is to certify that Main - Project report entitled “A STUDY ONINVESTOR BEHAVIOUR IN SHARE MARKET WITH REFERENCETO KOTAK SECURITIES, COIMBATORE” submitted by SHRIAVINASH NARENDHRAN S.V is the Bonafide work of the Main - Projectdone by her/him during the academic year 2010-2012, under my guidance andsupervision in partial fulfilment for the award of DEGREE OF MASTER OFBUSINESS ADMINISTRATION.Place : HosurDate :K.R.Kumar Dr. V.Navaneetha KumarFaculty Guide Director Department of Management studiesSubmitted for the MAIN - Project Viva-Voce examination held on___________-------------------- ---------------------------Internal Examiner External Examiner
  3. 3. DECLARATION I hereby declare that this Main - Project report on entitled INVESTORBEHAVIOUR IN SHARE MARKET WITH REFERENCE TO KOTAKSECURITIES, COIMBATORE” submitted to Department Of ManagementStudies, ADHIYAMAAN COLLEGE OF ENGINEERING, HOSUR inpartial fulfilment of the requirement for the award OF THE DEGREE OFMASTER OF BUSINESS ADMINISTRATION is a original work done byme during the period of my study at the college under the supervision andguidance of Mr.K.R.KUMAR, Lecturer, Department Of Management Studies,Adhiyamaan College of Engineering, Hosur.Place: HOSURDate: (SHRI AVINASH NARENDHRAN S.V)
  4. 4. ACKNOWLEDGEMENTS I take this opportunity with pride and immense pleasure to thankDr. G.RANGANATH, Principal, Adhiyamaan College of Engineering,Hosur for giving this opportunity to know the real experiences from thisproject. I am very much thankful to Dr. V.NAVANEETHA KUMAR Director,of the Management Studies for his valuable guidance in every step of thisproject. I am highly indebted to my project guide Mr. K.R.KUMAR, whoinspired me and guided me in every step of the project work. I am thankful to Mr. M.GOBU, Assistant Manager, who gave me thisopportunity to do the project, for supporting me in all aspects and giving mevaluable guidance. I express my sincere thanks to all the respondents who gave their honestresponse to my schedule. I also take this opportunity to thank all those creativeminds and helpful hearts for their assistance in making this project worksuccessfully. I am also glad to extend my sincere thanks to my parents, facultymembers and all my friends and my brother and sister who supported me forcompletion of my project successfully.
  5. 5. CHAPTER PAGE CONTENTS NO NO INTRODUCTION 1 Objectives of the Study 4 I Scope of the Study 5 Limitations of the Study 6 PROFILE II Industry Profile 7 Company Profile 13 III REVIEW OF LITERATURE 23 RESEARCH METHODOLOGY IV Research design 27 ANALYSIS AND INTERPRETATION 31 V Table 31 Charts FINDINGS 47 VI SUGGESTIONS 48 VII CONCLUSION 49 REFERENCES APPENDICES – QUESTIONNAIRE*
  6. 6. TABLE AND CHART CONTENT:TABLE:TABLE PAGE CONTENTSNO. NO.5.1 Type of Investors 315.2 The expectation of investors regarding the growth 325.3 The perception of the investors respect to the return 335.4 The investor‟s knowledge about various investment schemes 345.5 The age group of investors 355.6 The view of investors if the stock markets crash down 365.7 Investors invest their money 375.8 Investors having their own Demat account. 38 Investors having account with Kotak Securities.Com 395.9 Other Demat investors have used before having5.10 40 KOTAKSECURITIES.COM A/C5.11 Investor invest money in Share trading 415.12 Trading type investor prefer 425.13 The Securities for investment 435.14 Investor satisfied with KOTAKSECURITIES.COM Brokerage 445.15 Grading the KOTAKSECURITIES.COM 455.16 Grading with other Concern 46
  7. 7. CHART:CHART PAGE CONTENTSNO. NO.5.1 Type of Investors 315.2 The expectation of investors regarding the growth 325.3 The perception of the investors respect to the return 335.4 The investor‟s knowledge about various investment schemes 345.5 The age group of investors 355.6 The view of investors if the stock markets crash down 365.7 Investors invest their money 375.8 Investors having their own Demat account. 38 Investors having account with Kotak Securities.Com 395.9 Other Demat investors have used before having5.10 40 KOTAKSECURITIES.COM A/C5.11 Investor invest money in Share trading 415.12 Trading type investor prefer 425.13 The Securities for investment 435.14 Investor satisfied with KOTAKSECURITIES.COM Brokerage 445.15 Grading the KOTAKSECURITIES.COM 455.16 Grading with other Concern 46
  8. 8. CHAPTER-1 INTRODUCTION Investor behavior is the study of when, why, how, and where people do or do not buya product. It blends elements from psychology, sociology, social anthropology andeconomics. It attempts to understand the buyer decision making process, both individuallyand in groups. It studies characteristics of individual Investors such as demographics andbehavioral variables in an attempt to understand peoples wants. It also tries to assessinfluences on the investor from groups such as family, friends, reference groups, and societyin general. Investor behavior study is based on investor buying behavior, with the investorplaying the three distinct roles of user, payer and buyer. Research has shown that investorbehavior is difficult to predict, even for experts in the field. Relationship marketing is aninfluential asset for investor behavior analysis as it has a keen interest in the re-discovery ofthe true meaning of marketing through the re-affirmation of the importance of the Investor orbuyer. A greater importance is also placed on investor retention, investor relationshipmanagement, personalization, customization and one-to-one marketing. Social functions canbe categorized into social choice and welfare functions. Each method for vote counting is assumed as social function but if Arrow‟spossibility theorem is used for a social function, social welfare function is achieved. Somespecifications of the social functions are decisiveness, neutrality, anonymity, monotonicity,unanimity, homogeneity and weak and strong Pareto optimality. No social choice functionmeets these requirements in an ordinal scale simultaneously. The most importantcharacteristic of a social function is identification of the interactive effect of alternatives andcreating a logical relation with the ranks. Marketing provides services in order to satisfyinvestors.
  9. 9. BLACK BOX MODEL:ENVIRONMENTAL FACTORS BUYERS BLACK BOX BUYERS RESPONSEMarketing Environmental Buyer DecisionStimuli Stimuli Characteristics Process Problem recognition Economic Attitudes Information Product choiceProduct Technological Motivation search Brand choicePrice Political Perceptions Alternative Dealer choicePlace Cultural Personality evaluation Purchase timingPromotion Demographic Lifestyle Purchase Purchase amount Natural Knowledge decision Post-purchase behaviour The black box model shows the interaction of stimuli, investor characteristics, anddecision process and investor responses. It can be distinguished between interpersonal stimuli(between people) or intrapersonal stimuli (within people). The black box model is related tothe black box theory of behaviorism, where the focus is not set on the processes inside aconsumer, but the relation between the stimuli and the response of the investor. Themarketing stimuli are planned and processed by the companies, whereas the environmentalstimulus is given by social factors, based on the economical, political and culturalcircumstances of a society. The buyer‟s black box contains the buyer characteristics and thedecision process, which determines the buyer‟s response. The study of investors helps firms and organizations improve their marketingstrategies by understanding issues such as how  The psychology of how investors think, feel, reason, and select between different alternatives (e.g., brands, products, and retailers);
  10. 10.  The psychology of how the investor is influenced by his or her environment (e.g., culture, family, signs, media);  The behavior of investors while shopping or making other marketing decisions;  Limitations in investor knowledge or information processing abilities influence decisions and marketing outcome;  How investor motivation and decision strategies differ between products that differ in their level of importance or interest that they entail for the consumer; and  How marketers can adapt and improve their marketing campaigns and marketing strategies to more effectively reach the investor. One "official" definition of Investor behavior is "The study of individuals, groups, ororganizations and the processes they use to select, secure, use, and dispose of products,services, experiences, or ideas to satisfy needs and the impacts that these processes have onthe investor and society."  Behavior occurs either for the individual, or in the context of a group (e.g., friends influence what kinds of clothes a person wears) or an organization (people on the job make decisions as to which products the firm should use).  Investor behavior involves the use and disposal of products as well as the study of how they are purchased. Product use is often of great interest to the marketer, because this may influence how a product is best positioned or how we can encourage increased consumption. Since many environmental problems result from product disposal (e.g., motor oil being sent into sewage systems to save the recycling fee, or garbage piling up at landfills) this is also an area of interest.  Investor behavior involves services and ideas as well as tangible products.  The impact of consumer behavior on society is also of relevance. For example, aggressive marketing of high fat foods, or aggressive marketing of easy credit, may have serious repercussions for the national health and economy.
  11. 11. 1.1 OBJECTIVES OF THE STUDY To know about investors behavior towards the stock market. To known the Investors Perception in stock Market. To identify the risk taken by the Investors. To understand in which area the investors are investing. To identify the basic purpose of their Investment. To know the expected return of the Investors.
  12. 12. 1.2 SCOPE OF THE STUDY  The study helps us to know the state of mind of the investors & their expected charges regarding Brokerage, Return, Annual maintenance charges, and so on.  It helps the company to understand the Investors perception in Capital Market, so that they can create for their further improvement.  It may help the company to make further planning and strategy.
  13. 13. 1.3 LIMITAION OF THE STUDY  Method of data collection was through personal interview and therefore personal bias becomes a major limitation.  The major constraint of the study was the availability.  The respondents were less interested in answering the questionnaire, as they felt that it was an interruption to their regular work.  The number of respondents was limited to 100 only.  The scope of study is restricted only inCoimbatore.
  14. 14. CHAPTER-2 INDUSTRY AND COMPANY PROFILE2.1 INDUSTRY PROFILE The Securities Contracts (Regulation) Act, 1956, has defined Stock Exchange as an"association, organization or body of individuals, whether incorporated or not, established forthe purpose of assisting, regulating and controlling business of buying, selling and dealing inSecurities". Stock exchange as an organized security market provides marketability and pricecontinuity for shares and helps in a fair evaluation of securities in terms of their intrinsicworth. Thus it helps orderly flow and distribution of savings between different types ofinvestments. This institution performs an important part in the economic life of a country,acting as a free market for securities where prices are determined by the forces of supply anddemand. Apart from the above basic function it also assists in mobilizing funds for theGovernment and the Industry and to supply a channel for the investment of savings in theperformance of its functions. The Stock Exchanges in India as elsewhere have a vital role to play in thedevelopment of the country in general and industrial growth of companies in the privatesector in particular and helps the Government to raise internal resources for theimplementation of various development programmes in the public sector. As a segment of thecapital market it performs an important function in mobilizing and channelizing resourceswhich remain otherwise scattered. Thus the Stock Exchanges tap the new resources andstimulate a broad based investment in the capital structure of industries.
  15. 15. A well developed and healthy stock exchange can be and should be an importantinstitution in building up a property base alongwith a socialist in India with broaderdistribution of wealth and income. Thus Stock Exchange is a vital organ in a modern society.Without a stock exchange a modern democratic economy cannot exist. The system of jointstock companies financed through the public investment as emerged has put the vast meansof finances almost to enterpreneurs needs. Finance from external sources mainly from the investing public can become possibleonly when an institute like Stock Exchange provides opportunities for the conversion ofscattered savings into profitable investments with the promises of a reasonable yield andminimum element of risk. Such a mechanism as provided by Stock Exchanges is not merely asource of capital but also a conduit which channelises the savings into investment alongwith afree movement of capital. With the probable exception of a totalitarian state no Government will be able tomobilize resources from the public if the money market in the form of stock exchange doesnot exist. The Stock Exchange benefits the entire community in a variety of way. It enablesthe producers to raise capital which directly and indirectly gives gainful employment tomillions of people on the one hand and helps consumers to get ;the variety of goods neededby them on the other. It provides opportunities to savers to store the value either as temporaryabode of purchasing power or as a permanent abode of purchasing power in the form offinancial assets. It also helps the segments of the savers who put their savings in commercialfirms and non-banking financial intermediaries because these institutions avail themselves ofthe services of Stock Exchange to invest the money thus collected. The Stock Exchange comes close enough to a perfectly competitive market allowingthe forces of demand and supply a reasonable degree of freedom to operate as compared toother markets specially the commodity markets. This segment of the factor market can be
  16. 16. considered as a perfect or a nearly perfect market. Apart from providing a mechanism fortransacting business in stock and shares it generates genuine potential for a new entrepreneurto take up initiative in the private sector enterprises and allows the expansion of investingcommunity by offering gainful development of their otherwise sluggish or shy capital. TheStock Exchange must assume the responsibility of protecting the rights of investors speciallythe small investors in the Joint Stock Companies. Bombay Stock Exchange is the oldest stock exchange in Asia with a rich heritage,now spanning three centuries in its 133 years of existence. What is now popularly known asBSE was established as "The Native Share & Stock Brokers Association" in 1875. BSE is the first stock exchange in the country which obtained permanent recognition(in 1956) from the Government of India under the Securities Contracts (Regulation) Act1956. BSEs pivotal and pre-eminent role in the development of the Indian capital market iswidely recognized. It migrated from the open outcry system to an online screen-based orderdriven trading system in 1995. Earlier an Association Of Persons (AOP), BSE is now acorporatised and demutualised entity incorporated under the provisions of the CompaniesAct, 1956, pursuant to the BSE (Corporatisation and Demutualisation) Scheme, 2005 notifiedby the Securities and Exchange Board of India (SEBI). With demutualisation, BSE has two ofworlds best exchanges, Deutsche Börse and Singapore Exchange, as its strategic partners. Over the past 133 years, BSE has facilitated the growth of the Indian corporate sectorby providing it with an efficient access to resources. There is perhaps no major corporate inIndia which has not sourced BSEs services in raising resources from the capital market. Today, BSE is the worlds number 1 exchange in terms of the number of listedcompanies and the worlds 5th in transaction numbers. The market capitalization as onDecember 31, 2007 stood at USD 1.79 trillion . An investor can choose from more than 4,700listed companies, which for easy reference, are classified into A, B, S, T and Z groups.
  17. 17. The BSE Index, SENSEX, is Indias first stock market index that enjoys an iconicstature , and is tracked worldwide. It is an index of 30 stocks representing 12 major sectors.The SENSEX is constructed on a free-float methodology, and is sensitive to marketsentiments and market realities. Apart from the SENSEX, BSE offers 21 indices, including12 sectoral indices. BSE has entered into an index cooperation agreement with DeutscheBörse. This agreement has made SENSEX and other BSE indices available to investors inEurope and America. Moreover, Barclays Global Investors (BGI), the global leader in ETFsthrough its iShares® brand, has created the iShares® BSE SENSEX India Tracker whichtracks the SENSEX. The ETF enables investors in Hong Kong to take an exposure to theIndian equity market. BSE has tied up with U.S. Futures Exchange (USFE) for U.S. dollar-denominatedfutures trading of SENSEX in the U.S. The tie-up enables eligible U.S. investors to directlyparticipate in Indias equity markets for the first time, without requiring American DepositoryReceipt (ADR) authorization. The first Exchange Traded Fund (ETF) on SENSEX, called"SPIcE" is listed on BSE. It brings to the investors a trading tool that can be easily used forthe purposes of investment, trading, hedging and arbitrage. SPIcE allows small investors totake a long-term view of the market. BSE provides an efficient and transparent market for trading in equity, debtinstruments and derivatives. It has a nation-wide reach with a presence in more than 450cities and towns of India. BSE has always been at par with the international standards. Thesystems and processes are designed to safeguard market integrity and enhance transparencyin operations. BSE is the first exchange in India and the second in the world to obtain an ISO9001:2000 certification. It is also the first exchange in the country and second in the world toreceive Information Security Management System Standard BS 7799-2-2002 certification forits BSE On-line Trading System (BOLT).
  18. 18. BSE continues to innovate. In recent times, it has become the first national level stockexchange to launch its website in Gujarati and Hindi to reach out to a larger number ofinvestors. It has successfully launched a reporting platform for corporate bonds in Indiachristened the ICDM or Indian Corporate Debt Market and a unique ticker-***-screen aptlynamed BSE Broadcast which enables information dissemination to the common man on thestreet. In 2006, BSE launched the Directors Database and ICERS (Indian CorporateElectronic Reporting System) to facilitate information flow and increase transparency in theIndian capital market. While the Directors Database provides a single-point access toinformation on the boards of directors of listed companies, the ICERS facilitates thecorporates in sharing with BSE their corporate announcements. BSE also has a wide range of services to empower investors and facilitate smoothtransactions: Investor Services: The Department of Investor Services redresses grievances ofinvestors. BSE was the first exchange in the country to provide an amount of Rs.1 milliontowards the investor protection fund; it is an amount higher than that of any exchange in thecountry. BSE launched a nationwide investor awareness programme- Safe Investing in theStock Market under which 264 programmes were held in more than 200 cities. The BSE On-line Trading (BOLT): BSE On-line Trading (BOLT) facilitates on-linescreen based trading in securities. BOLT is currently operating in 25,000 TraderWorkstations located across over 450 cities in India.
  19. 19. BSEWEBX.com: In February 2001, BSE introduced the worlds first centralizedexchange-based Internet trading system, BSEWEBX.com. This initiative enables investorsanywhere in the world to trade on the BSE platform. Surveillance: BSEs On-Line Surveillance System (BOSS) monitors on a real-timebasis the price movements, volume positions and members positions and real-timemeasurement of default risk, market reconstruction and generation of cross market alerts. BSE Training Institute: BTI imparts capital market training and certification, incollaboration with reputed management institutes and universities. It offers over 40 courseson various aspects of the capital market and financial sector. More than 20,000 people haveattended the BTI programmes2.2 COMPANY PROFILE
  20. 20. The Kotak Mahindra group was born in 1985 as Kotak capital managementfinancier‟s ltd. UdayKotak, Sindey A.A Pinto, the company. Industrialists Harish Mahindraand Anand Mahindra Took a stake in 1886 and that‟s when the company changed its name toKOTAK MAHINDRA FINANCE LIMITED.1995: Brokerage and distribution businesses incorporated into a separate company KotakSecurities.2000: Kotak Mahindra ties up with old mutual for the life4 insurance business. KotakSecurities launches Kotak securities system.com- its online broking site.2006: Bought the 25% stake held by Goldman sachs in Kotak Mahindra capital company andKotak securities Kotak securities limited is a subsidiary of Kotak Mahindra Bank Limited is one oflargest private brokerage and distribution house Set up in 1994 by Mr. UdayKotak. Kotaksecurities have 25% equity participation from Goldman Sachs. Kotak securities have been the largest in IPO distribution and were ranked no.1 in theyear 2003-2004 as book running lead managers in I PO‟s by prime database. The corestrengths are the expertise in equity research and wide retail distribution network. It has anoutstanding research division involved in macro – economic studies, industry and companyspecific equity research with analysts specializing in particular economic sectors and largecap stocks. Kotak securities manage assets over rupees 1200 crs under portfolio managementservices.Main areas of business Kotak Securities are :- Institutional broking business Private client group Client money management Retail distribution of financial products Depository services Online trading
  21. 21. The pre – requisites to start e trading are : Trading account to deal in electronic share mutual funds and ipo’s on Kotaksecurities.com Demat account with Kotak securities for dealing. Internet bank account with a banking partner to move funds to Kotaksecurities.com or receive payments from Kotaksecurities.com. The banking partners are Kotak Mahindra bank HDFC, SBI, AXIS, INDUS-IND, ICICI, CITI, HSBC bank.The account offered by Kotak securities are:- Kotak privilege circle account Kotak value account Kotak gateway account Kotak freeway account Kotak high trader accountKotak privilege circle account:- One can activate a KPC account with any amount more than Rs.10,00,000 asmargin by way of cash on stock.In KPC one can avail the following:- 6 times expenses on the margin Initial brokerage payment as per the lowest brokerage slab to be recalculated at the end of the month as per the turnover Acess to KEAT premium free of cost. Free call& trade facility. Margin finance at attractive rates of 13% p.a. Lowest delayed payment interest if 13% p.a. Free research advice via SMS.
  22. 22. Kotak value account:- One can open KVA account with any amount between Rs. 10,00,000 and 5,00,000as initial margin.One can avail the following: 5 times exposure on the margin initial brokerage payment as per the middle brokerage slab to recalculated at the end of the month as per the turnover. Access to KEAT PRO Software free and discount on KEAT premium charge of Rs. 300 only per month. Research advice via SMS for a fee of Rs. 75 per month. Call and trade facility with 20 calls free thereafter Rs. 15 per call. Discounted delayed payment interest of 16% p.a.Kotak gateway account:- KGA account can be opened with any amount less than Rs.5,00,000 as inintialmargin.One can avail the following:- 4 times exposure on the margin, Access to KEAT desktop free of cost and KEAT premium for Rs 500 only per month. Research advice via SMS for a fee of Rs. 100 per month. Call and trade facility with 20 calls free thereafter Rs. 20 per call Delayed payment interest at 18% p.a.Kotak free way account:- Free account can be opened with any amount less than Rs. 1,25,000 as initialmargin.One can avail the following:- Zero brokerage plans on square off trades, only levy, service tax and other charges at 0.03% per transaction. Flat fee of Rs. 999 per month. 4 times exposure on the margin.
  23. 23.  Maximum exposure Rs.5,00,000  Delivery brokerage ranging from 0.59% to 0.18% depending on volumes  Delayed payment interest at 18% p.a. Kotak high trader account :- High trader account can be opened with any amount of margin. In the Kotak free way account one can avail the following:-  6 times exposure on the margin.  And auto square off product where al the cash order would be squared off after 3.10 PM.  Can trader in the derivative segment on the high trader with the normal limit i.e. multiple of four on stock derivatives.  Delayed payment interest at 18% p.a. THE BROKERAGE STRUCTURE:-DELIVERY SLABSVolume Slab Brokerage<1 lakhs 0.59%1 lakh-5 lakhs 0.55%5 lakh-10 lakhs 0.45%10 lakhs-20 lakhs 0.36%20 lakhs-60 lakhs 0.27%60 lakhs-2 crores 0.23%> 2 crores 0.18% With Citi bank, AXIS, KOTAK, HSBC, SBI,ICICI and HDFC bank for online fund transfer. Any money owed to client credited directly into Internet bank account of customer by Kotak securities on the next day. Documents required are:-
  24. 24.  Two photographs signed across. Identity proof –photocopy of passport, PAN/voters ID card, driving license. Address proof – photocopy of electricity bill, telephone bill, bank S/M. Cheques for margin in the name of Kotaksecurities.com + bank account opening. Signature proof – passport, PAN card Bank intro. Cash Squaring Up Volume slab Brokerage < 25 lakhs 0.06% both sides 25 lakhs- 2 crores 0.05% both sides 2 crores-5crores 0.04% both sides > 5 crores 0.03% both sidesBuy now sell tomorrow with a guarantee (BNST-G):- BNST-G is special service offered by Kotaksecurities.com in which one can sell75% of the specified shares that one has purchased before you receive the delivery ofthe shares from the exchange, without the worry of short allotment.New from Kotak securities.com:- Securities accepted in lieu of cash margin – green channel. Multiple available on sales marked for delivery.
  25. 25.  Short sales are possible.  Stop loss order  After market order  Cash and derivatives rates on single screen DEMAT FORM V/S PHYSICAL FORM:- A Comparison of investment in securities:-In physical form In demat formInsurance is required No insurance is requiredLaborious inventory verification during The DP’s makes periodic statement of holdinginternal stock taking and audits. available. Easy verification of audits.No custody charges if using own premises Custody charges vary from 3 to 10 basishowever, custodian’s charges- 20 to 40 points depending upon DP selected.basic points.Risk of theft No risk of theftReceipt of corporate benefits need Faster and hassle free receipt of corporatemonitoring and risk of loss in transit not benefits.ruled out
  26. 26. BUYING:-In physical form In demat formHigh brokerage Low brokerageStamp duty at 50 basis points No stamp dutyPosted and handling charges for No posted and handling chargeslodgments and transfersCost involved in follow Guaranteed good deliveryup/rectificationNo transaction charges Transaction charges vary from 7 to 10basis points.SELLING:-In physical form In demat formHigh brokerage Low brokerage, NSE brokers charges half the brokerage on electronic tradesTransaction only in market lots No market lot conceptOff market transaction are costly Facility for off market transactionand risky market transactions, specially within the groupJumbo lots need to be split into No need to splitmarket lots for selling
  27. 27. How a depository similar to bank Bank Depository Holds funds in an account Hold securities in an account Transfers funds between accounts Transfer securities between accounts on on the instruction of the account the instruction of the account holder holder Facilities transfer without having to Facilities transfer of ownership without handle money having to handle securities Facilities safe keeping of money Facilities safe keeping of sharesTRADING SYSTEM The Exchange, as stated earlier, had an open outcry trading system till March 1995where member-brokers used to assemble in a trading ring for doing transaction in securities.It had switched over to a fully automated computerized mode of trading known as BOLT(BSE on Line Trading) System w.e.f March 14, 1995. Through the BOLT system, themember-broker now enters orders for purchase or sell of securities from Trader WorkStations (TWSs) installed in their offices instead of assembling in the trading ring. Thissystem, which was initially both order and quote driven, is currently only order driven. Thesystem, which is now only order driven, facilities more efficient in-putting processing,automatic matching and faster execution of orders in a transparent manner. The trading insecurities at the Exchange is conducted in an anonymous environment and the counter partyidentify is not revealed. The buyer and sellers of securities do not know the names of eachother. The member-brokers of the Exchange were permitted to open trading terminals onlywithin the city limits of Mumbai till1996. The Exchange obtained permission from SEBI forexpansion of its BOLT network to locations outside Mumbai. The expansion of BOLTnetwork to cities outside Mumbai was inaugurated by Shri P. Chidambaram, the FinanceMinister, Government of India on August 31, 1997. The Exchange was initially allowed bySEBI to set up[ trading terminals in all places except in the jurisdictional areas of other
  28. 28. Regional Stock Exchanges, for setting-up trading terminal in the jurisdictional areas of otherRegional Stock Exchanges, the Exchanges was required to enter into Memorandum ofUnderstanding (MOU) with the respective Stock Exchange. However, with certain modification in this regard announced by SEBI towards theend of the year 1999, the member-broke of the exchange are now free to install their tradingterminals at any placer in the country including in the jurisdictional areas of other RegionalStock Exchanges. In order to expand the reach of BOLT network to centers outside Mumbai to reach outto investors in these centers and provide them access t the trading facilities in all scripts listedand permitted to be traded in the Exchange and to support the smaller Regional StockExchange, the Exchange has admitted subsidiary companies formed by 15 Regional. Stock Exchange as its member-brokers as on June 30, 2003. The member-brokers ofthese Regional Stock Exchange work as sub-brokers of the member-brokers of the Exchange. Trading on the BOLT System is conducted from Monday to Friday between 9:55 a.m.and 3:30 p.m. the scripts traded on the Exchange have been classified into „A‟, „B1‟,‟B2‟,„F‟, „G‟, and ‟Z‟ groups. The Exchange has for the guidance and benefit of investors classified the scripts in theEquity Segment in A‟, „B1‟,&‟B2‟ based on certain qualitative and quantitative parameterswhich include number of trades, values traded, etc. for the guidance and benefit of investors. The „F‟ group represent the fixed income securities wherein 730 securities were listedas on June 30,2003
  29. 29. The Exchange has commenced trading in Govt. Securities for retail investors under“G” group w.e.f. January 16, 2003 And 85 Govt. Securities are traded on the Exchange underthis group as on June 30,2003. The „Z‟group was introduced by the Exchange in July 1999 and includes thecompanies which have failed to comply with the listing requirement of the Exchange andhave failed to resolve investor complaints or have not made the required arrangement withboth the Depository Ltd.(NSDL) for dematerialization of their securities. Companies in„Z‟group numbered 2776 as on June 30, 2003.of these, 1275 companies were in “Z” groupfor not complying with the provisions of the Listing Agreement and not resolving pendinginvestor complaints and the balance 1501 companies were on account of not makingarrangement for dematerialization of their securities with both the Deposotories.1501companies have been put by the Exchange in “Z” group as a temporary measure till theymake arrangement for dematerialization of their securities. Once they finalize thearrangement for dematerialization of their securities, trading and settlement in their scriptswould be shifted to their respective rest groups.
  30. 30. CHAPTER 3 REVIEW OF LITREATURE Nayak, M. K. (2010), analyze the significance of difference between the variousdemographic variable and investor`s knowledge of grievances, awareness of functions ofredressed agencies, loading of complain are some of the factors which affect their satisfactionlevel. He concludes that professionals and servicemen being more educated are expected tobe more rational in their decisions, where as business man are more daring, risk bearing, andinstinctively investment-minded. Agriculturists are generally less informed and passive tomaking investment so that they suffer from all the traits of being prone to grievances. Henrik, C. and Stephan, S. (2009), stated that the cross-sectional heterogeneity inkeymeasures of investment behavior into genetic and environmental influences. They foundthatup to 45 percent of the variation in stock market participation, asset allocation, andportfoliorisk choices is explained by a genetic component. Genetic variation is a veryimportantexplanation for variation in investment behavior compared to the influence ofeducation, networth, entrepreneurial activity etc. Harry, P. S. (2009) reveals that usually rational investorsare sometimes prone todepart from their normal logic and follow the mass hysteria.
  31. 31. Chandra, A. (2008) states that the decision-making by individual investors is usuallybasedon their age, education, income, investment portfolio, and other demographic factors.Theimpact of behavioral aspect like greed and fear, cognitive dissonance, heuristics,mentalaccounting of investing is, however, often ignored. Tripathi, V. (2008) emphasized onbehavior of investor along with various kind ofinvestment strategies used by them whileinvesting in the market. She analyzed that there hasbeen substantial change in the investmentstrategies in last five years and size based strategies,momentum strategies, following FIIsinvestment behavior, buying stocks on the basis of 30days moving average and buyingstocks on the basis of relative strength index are five mostwidely used investment strategiesin Indian equity market. Brad M., Barber T, Odean (2007) measures the effect of attentionand news on thebuying behavior of individual and institutional investors‟ and confirms theIJRFM Volume 1,Issue 4 (August, 2011) (ISSN 2231-5985)International Journal of Research in Finance &Marketinghttp://www.mairec .org 99hypothesis that individual investors are net buyers ofattention grabbing stocks. Dhar, R. andNing Zhu (2006) analyze the trading records of a major discountbrokerage house toinvestigate the disposition effect, the tendency to sell winners too quicklythan losers. RonaldG. B. ,et. al(2004 ) highlighted that many investors are following investmentstyles whereinvestments decisions are made with only limited reference to availableinformation and noconcern with fair value.
  32. 32. Dhake, A. (1996) emphasized the average investor has the tendencyto increase theirholdings in investments that perform the best in the short term. At the sametime, these sameinvestors tend to sell or reduce their holdings in investments that haveperformed poorly,again, in the short term. As a result, the average investor will hold aportfolio that is heavilyweighted in asset classes that have demonstrated the best short-termperformance. Since alarge proportion of money has been added to these investments aftermost of the growth hasoccurred, this strategy leads to a dramatic decline in their portfoliowhen the market corrects.Lease et al. (1974) describe ININ as “investors” rather than “traders” since they are long-termminded and give little interest to short-term yields. Moreover, Lewellen et al. (1977) revealthat investors‟ main source of information is through fundamental or technical analysis.Antonides and Van Der Sar (1990) argue that the perceived risk of an investment is lower ifan asset has recently increased in value, consistent withBlume and Friend‟s (1978) findings. Nagy and Obenberger (1994) investigate the extent towhich a listing of 34 variables influence shareholders‟ perception, and provide evidence of arole for a mix of financial and non-financial variables. Additionally, they found that eachshareholder considers the seven different factors employed in a factoranalysis in a unique way. Fisher and Statman (1997), relying on general agreement that theinvestment decision is a complex one, suggest that investors are not only concerned aboutrisk and return when buying shares, but also several other parameters taken intoconsideration. Clark-Murphy and Soutar (2003) report that the vast majority of ININ inAustralia have little interest in speculation and are by nature long-term investors.
  33. 33. There are, however, few studies that examine the way in which various investor groups (bothprofessional and individuals) make their investment decisions in less developed countriesand/or those with only moderately sophisticated capital markets. Notable among theexceptions are studies by Nassar and Rutherford (1996) and Naserand Nuseibeh (2003) whoshow that investors treat annual reports in broadly the same way as do those in developedcountries, although they rely more on information obtained directly from the companies anddo not tend to consult intermediary sources of corporate information in order to makeinformed decisions. Overall, investors seemmainly to use fundamental analysis and, to alesser degree, portfolio analysis (i.e. conventional mean-variance analysis).Studies concerning professional investors in sophisticated capital markets, such as in HongKong (Lui and Mole, 1998; Wong and Cheung, 1999), the UK (Taylor and Allen, 1992;Collison et al., 1996) and the US (Frankel and Froot, 1990; Carter and Van Auken, 1990),reveal that these groups of investors rely more on fundamental and technical analysis and lesson portfolio analysis. Arnold and Moizer (1984) examine the general procedures adopted byUK investment analysts in appraising the ordinary shares of companies and report that theprimary technique used by analysts is fundamental analysis, followed by technical analysisand b-analysis. Their results aresimilar to those revealed by an earlier study of Lee andTweedie (1981), also for the UK market. Moreover, Arnold et al. (1984) provide results froma questionnaire survey conducted in the US and UK during 1981 and 1982. The studyprovides a general description of procedures used by financial analysts in both countries,revealing that both groups attach more importance to accrual-based historical cost accountingnumbers, particularly earnings, than to inflation-adjusted accounting numbers or cash flows.Both groups also adopt fundamental analysis rather than technical analysis or b-analysis andrely on discussions with company personnel as a source of information.
  34. 34. Considering the literature as a whole, it is evident that professional investors make extensiveuse of methods and techniques that differ from those proposed by academics. However, itappears that the traditional approaches, including both fundamental and technical analysis,may still be dominant in many emerging financial markets; it is this issue that the presentstudy attempts to investigate.
  35. 35. CHAPTER 4 RESEARCH METHODOLOGYRESEARCH The study of research method provides you with the knowledge and skills you need tosolve the problem and meet the challenges of the fast- based decision. Marketingenvironment we define Business Research as a systematic inquiry whose objective is toprovide information to solve managerial problem. It seeks to find explanation to unexplored phenomena to clarify the doubtful facts andto correct the misconceived facts.4.1 TYPE OF RESEARCH:DESCRIPTIVE RESEARCH Descriptive study is a fact- finding investigation with adequate interpretation. It is thesimplest type of research. It is more specific than an explanatory study, as it has focus onparticular aspect of the problem studied. It is designed to get her descriptive information andprovide information for formulating more sophisticated studies. Data are collected by usingone or more appropriate method, observation, interviewing and mail questionnaire.4.2 TYPE OF DATA USEDThere are basically two types of Data Primary Data Secondary Data
  36. 36. PRIMARY DATA The primary data are those which are collected freshly and for the first time and thus happen to be original in character. The main sources of primary data are individuals, focus groups, panels of respondents specifically set by the researcher. It has been collected through a questionnaire. SOURCES OF PRIMARY DATA  Questionnaire  Personal Interview SECONDARY DATAThe secondary data are those which have already been collected by someone else and whichhave already been passed through the statistical process. The company profile and records,textbooks, website and internet were used to collect the secondary data.SOURCES OF SECONDARY DATA  Internet  E- Journal
  37. 37. SAMPLING METHODDescriptive Sampling was used to collected data from of sample. Descriptive Statistics is thediscipline of quantitatively describing the main features of a collection of data. Descriptivestatistics are distinguished from inferential statistics (or inductive statistics), in thatdescriptive statistics aim to summarize a data set, rather than use the data to learn about thepopulation that the data are thought to represent. This generally means that descriptivestatistics, unlike inferential statistics, are not developed on the basis of probability theory.Even when a data analysis draws its main conclusions using inferential statistics, descriptivestatistics are generally also presented. For example in a paper reporting on a study involvinghuman subjects, there typically appears a table giving the overall sample size, sample sizes inimportant subgroups (e.g., for each treatment or exposure group), and demographic or clinicalcharacteristics such as the average age, the proportion of subjects of each sex, and theproportion of subjects with related co morbidities.SAMPLING SIZEThe Company, which is considered for this study, is “KOTAK SECURITIES,COIMBATORE”. The sample taken for the study is 130 (which is both the existing and newclient of the company). The method adopted for selecting the sample was Random sampling.And the sample respondent size was 100. Researcher has used both primary and secondary data to gather more information.
  38. 38. TOOLS FOR ANALYSIS The statistical methods, which are used, for the research are:  Percentage Analysis  5 Point Likert– Scale  MeanPercentage AnalysisPercentage refers to a special kind of ratio in making comparison between two or more dataand to describe relationships. Percentage can also be used to compare the relation terms thedistribution of two or more sources of data. Number of RespondentsPercentage of Respondents = --------------------------------- X 100 Total RespondentsMean: The mean (also known as average), is obtained by dividing the sum of observedvalues by the number of observations, n. Although data points fall above, below, or on themean, it can be considered a good estimate for predicting subsequent data points. Theformula for the mean is given below as equation. The excel syntax for the mean isAVERAGE (starting cell: ending cell).
  39. 39. CHAPTER 5 ANALYSIS AND INTERPRETATION 1. The Type of InvestorsTable 5.1TYPES OF INVESTORS NO.OF RESPONDENTS PERCENTAGE (%)Aggressive 27 18%Moderate 51 34%Conservative 42 28%Very Conservative 30 20%TOTAL 100 100%INFERENCE:Table 5.1 shows that 27% of the respondents were aggressive and 34% aremoderate. 28% of the respondent are conservative while 20% of the total percent are reallyvery much conservative.Chart 5.1 Type of Investors 60 51 50 42 40 30 27 30 Type of Investors 20 10 0 Aggressive Moderate Conservative Very Conservative
  40. 40. 2. The expectation of investors regarding the growthTable 5.2EXPECTATION OF NO.OF RESPONDENTS PERCENTAGE (%)INVESTORSAverage 62 62%High 13 13%Low 25 25%TOTAL 100 100%INFERENCE:The Expectation of investor is average when seen overall. 62% goes withAverage growth in Share market while 13% expect high growth and remaining 25% has alow expectationChart 5.2 Investors Expectation 25 Average High Low 13 62
  41. 41. 3. The perception of the investors respect to the returnTable 5.3PERCEPTION TOWARDS NO.OF PERCENTAGERETURN RESPONDENTS (%)Above Inflation Rate 64 64%High 21 21%Safety to principal 15 15%TOTAL 100 100%INFERENCE:It was found that 64% of the surveyed investors were more concerned aboutearning returns above inflation rate, 21% were more concern about earning high returns and15% had a primary motive of the safety of principal.Chart 5.3 Perception towards Return 15 Above Inflation Rate 21 High Saftey to principal 64
  42. 42. 4. The investor‟s knowledge about various investment schemesTable 5.4 NO.OF PERCENTAGEINVESTORS KNOWLEDGE RESPONDENTS (%)Average 70 70%Good 22 22%Low 8 8%TOTAL 100 100%INFERENCE: In the above diagram we can see that out of total surveyed investors 70%were found with average investment knowledge, 22% were found with good investmentknowledge and 8% of people were found with low investment of knowledge.Chart 5.4 Investors Knowledge 8 22 Average Good Low 70
  43. 43. 5. The age group of investorsTable 5.5 NO.OF PERCENTAGEAGE GROUP RESPONDENTS (%)Above 50 51 51%31 – 50 32 32%20 – 30 17 17%TOTAL 100 100%INFERENCE: Age group was also a rational issue to know while doing the survey. It wasfound that 17% of the total surveyed investors were between 20-30 years, 32% were between30-50 years and 51% of the total surveyed investors were above 50 years.Chart 5.5 Age Group 60 51 50 40 32 30 Age Group 20 17 10 0 20 - 30 31 - 50 Above 50
  44. 44. 6. The view of investors if the stock markets crash downTable 5.6 PERCENTAGEVIEW OF INVESTORS NO.OF RESPONDENTS (%)State of Investment 29 29%Wait & Watch 52 52%State of Withdrawal 19 19%TOTAL 100 100%INFERENCE: 52% of of investors wait and watch when the market crashed down they havea lot of patience. 29% will invest more as they are risk takers and hope that in future marketwill grow and 19% investors will withdraw their money.Chart 5.6 View of Investors 60 52 50 40 29 30 20 19 View of Investors 10 0 View of Investors State of Investment Wait & Watch State of Withdrawal
  45. 45. 7. Investors invest their money mainly inTable5.7 PERCENTAGEINVESTMENT AREA NO.OF RESPONDENTS (%)Primary Market 47 47%Secondary Market 33 33%Others 20 20%TOTAL 100 100%INFERENCE: Nearly 47% of people invest t heir money in Primary market, while 33%people invest in Secondary market. Remaining 20% invest in bank, post office, etcChart 5.7 Investment 47 50 45 40 33 35 30 20 Investment 25 20 15 10 5 0 Primary Market Secondary Market Others
  46. 46. 8. Investors having their own Demat account.Table 5.8 PERCENTAGEDEMAT A/C NO.OF RESPONDENTS (%)Yes 73 73%No 27 27%TOTAL 100 100%INFERENCE: 73% of the respondents are already having a demat account while rest ofthem don‟t have from the respondents which I collected.Chart 5.8 Demat A/C 27 Yes No 73
  47. 47. 9. Investors having account with Kotak Securities.ComTable 5.9A/C with PERCENTAGE NO.OF RESPONDENTSKOTAKSECURITIES.COM (%)Yes 46 46%No 54 54%TOTAL 100 100%INFERENCE: 46% are person surveyed are the existing customer ofKOTAKSECURITIES.COM and rest 54% do nothave their demat account withKOTAKSECURITIES.COMChart 5.9 A/C with Kotak 46 Yes 54 No
  48. 48. 10. Other demat investors have used before having KOTAKSECURITIES.COM A/CTable 5.10BEFORE HAVING PERCENTAGE NO.OF RESPONDENTSKOTAKSECURITIES.COM (%)Indiabulls 32 32%ICICI DIRECT 13 13%Sharekhan 10 10%Geojit 12 12%Don’t have Prior Experience 33 33%TOTAL 100 100%INFERENCE:  Indiabulls is the other leading security company in the market. It has its majority of 32% in the market among its competitors like ICICI, Sharekhan, Geojit.  12% of A/C in Geojit, 10% of A/Cs in Sharekhan and 13% of A/Cs in ICICI Direct  33% do not have their account open in any of the other brokage house.Chart 5.10 Other Demat A/C Indiabulls 33 32 ICICI Direct Sharekhan Geojit 12 13 No Experience 10
  49. 49. 11. Investor invest money in Share tradingTable 5.11 NO.OF RESPONDENTSPORTFOLIO MEAN PERCENTAGE Business Salary RetiredMutual Fund 8 9 4 7 21%Equity 15 4 10 9.67 29%Gold ETF 3 7 3 4.33 13%Currency Derivatives 7 2 9 6 18%IPO 6 3 10 6.33 19%TOTAL 39 25 36 100%INFERENCE: 29% of people like to invest money in Equity market, 21% of people wants toinvest their money in Mutual Fund, 13% in Gold, 18% in currency derivatives, 19% in IPOChart 5.11 Portfolio 16 15 14 12 10 8 8 7 Business 6 6 Salary 4 3 2 Retired 0 Mutual Equity Fund Gold ETF Currency IPO
  50. 50. 12. Trading type investor preferTable 5.12 NO.OF RESPONDENTSPREFERED MEAN PERCENTAGETRADING Business Salary RetiredIntraday 10 5 30 15 45%Delivery 14 17 10 13.67 41%Marginal Finance 4 5 5 4.67 14%TOTAL 28 27 45 100%INFERENCE: 45% of respondents do intraday trading, 41% do in delivery basis which restgo for marginal finance.Chart 5.12 35 30 25 20 Business Salary 15 Retired 10 5 0 Intraday Delivery Marginal Finance
  51. 51. 13. Choose to select the Securities for investmentTable 5.13 NO.OF RESPONDENTSCHOOSING of MEAN PERCENTAGESECURITIES Business Salary RetiredMyself 9 5 10 8 24%Friends Advice 10 17 2 9.67 29%Market Programme + 4 5 15 8 24%Friends AdviceRecommendation 8 10 5 7.67 23%given in KotakTOTAL 31 37 32 33.34 100%INFERENCE: 24% do trading on their own and with friend‟s advice. 23 % use therecommendation of KOTAK while 29% use only friends advice.Chart 5.13 17 15 20 10 15 9 5 10 2 10 5 10 5 8 Business 5 4 Retired 0 Salary Salary Retired Business
  52. 52. 14. Investor satisfied with KOTAKSECURITIES.COM BrokerageTable 5.14 PERCENTAGEBROKERAGE NO.OF RESPONDENTS (%)Yes 55 55%No 45 45%TOTAL 100 100%INFERENCE: 55% of the respondents are satisfied with the brokerage in KOTAK.Chart 5.14 Brokerage 45 Satisfied 55 Not Satisfied
  53. 53. 15. Grading the KOTAKSECURITIES.COMTable: 5.15 Excellent Good Average Poor N/AValue 5 4 3 2 1 (a) Brokerage Charged (b) Recommendation (c) Other facilities (d) Customer SatisfactionChart 5.15Value N/A Poor Avg Good ExcellentBrokerage Charged 1 2 3 4 5Recommendation 1 2 3 4 5Other Facilities 1 2 3 4 5Customer Satisfaction 1 2 3 4 5
  54. 54. 16. Grading with other ConcernTable: 5.16 Excellent Good Average Poor N/AValue 5 4 3 2 1 (A) KOTAK SECURITIES (B) ICICI DIRECT (C) INDIABULLSChart 5.16High Brokerage -2 -1 0 1 2 Low BrokerageBad Recommendation -2 -1 0 1 2 Good RecommendationBad Facilities -2 -1 0 1 2 Good FacilitiesBad Satisfaction -2 -1 0 1 2 Good Satisfaction Kotak ICICI Indiabulls
  55. 55. CHAPTER-6 FINDINGS & SUGGESTIONsFINDINGS: High Brokerage: - Kotak Securities has high brokerage as compare to other online players. Call and trade: - Call and trade facility is payable which is not convenient for all the clients. Saving Accounts: - saving account with Kotak Mahindra Bank, AXIS, HDFC, HSBC, ICICI, SBI or CITI bank is mandatory. Documentation: - in Kotak Securities the documentation process is very lengthy and cumbersome. Lack of Awareness: - in Coimbatore city, though Kotak is well known but still there is lack of awareness regarding Kotak Securities and its online division i.e. Kotaksecurities.com and its products.
  56. 56. SUGGESTIONS:  According to the analysis the investor above the age of 50 years must be taken into consideration as they are having great potential regarding investment.  Time taken in account opening too long they should reduce it.  Kotak Securities must use marketing tools like point of purchase, advertisement through mass media, like newspapers, magazines, televisions, fairs, and advertisements on Internet.  Documents required for an account opening are too unique and confusing. Voters ID or driving license should be taken both as identity proof as well as address proof.  The organization is lacking on the parameters of motivation. For example incentives on targets should be given time to time.  No. of signatures, which are made by the lines are too many, therefore should be reduced.  Kotak must lay some sound strategies to trap more customers by providing them with less brokerage in comparison to others.
  57. 57. CHAPTER-7 CONCLUSION From the analysis of the responses receive from the investors inCoimbatore city, a majority of investors are found to be conscious and enlightened regardingtheir investment, returns and growth. We have very good market in Coimbatore which comprises potentialinvestors but due to lack of basic promotion and publicity these investors are not fully awareof our company and who so ever is aware of the company their investment decisions are doneon the basis of security, analysis of risk yield and return few parameters like demographic,physiological, income etc. E-trading account is a unique combination of saving account; dematand online share trading account as no other depository provides all the three facilitiestogether.So my findings are that Kotak securities should make little more efforts to trap thepotential investors, like media advertisements, paper advertisement, seminars and businessmeets and building a good relationship with potential business, more over friendly guidance.
  58. 58. REFERENCE1. Josef Lakonishok, Inmoo Lee and Allen M. Poteshman (2004),” Investor Behavior and the option Market”, National Bureau of Economic Research, Paper No. 10264 (January 2004)2. Prof. Sohan Patidar (2010), “Investor‟s Behavior towards Share Market”, International Research Journal, (October 2010), ISSN – 0975-3486, VOL I ISSUE 133. Dr.Preeti Singh and Harpreet Singh Bedi (2011), “Investor Behavior in Secondary Market”, IJRFM (August 2011) Vol 1, Issue 4, ISSN 2231-59854. Dimitrios I.Maditions, Zeljko Sevic and Nikolaos G. Therious (2007), “Investors‟ behavior in the Athens Stock Exchange”, Studies in Economics and Finance, Vol.21 No. 1,2007 pp 32-50.5. Chip Heath (1999) “Psychological factors and stock option exercise”, Journal of financial economics, Vol 13, Version 3, page 65-69.6. Dhar, R. and Zhu Ning (2006) “An Individual Level Analysis of the Disposition Effect”, Studies in Economics and Finance” Vol 25, Issue 4, page 67-82.7. Guven Sevil. Mehmet Sen and Abdullah Yalama (2007), “Small Investor Behaviour in Istanbul Stock Exchange”, ISSN 1450-2889 Issue 1
  59. 59. 8. Ricciardi Victor and Simon Helen K., “What is Behavioral Finance?”, Business Education and Technology Journal, 2000. 9. Kyrolainen, P. (2007), “Investors‟ Activity and Trading Behavior”, ICFAI Journal of Behavioral Finance Vol 1, page 31-59. 10. Tripathi, V. (2008), “Investment Strategies in Indian Stock Market: A Survey”, Journal of Financial Economics, Vol 32, PP. 663-682.WEBSITES:  www.kotak.com  www.kotaksecurities.com  www.nseindia.com  www.bseindia.com  www.tradeonline.comBOOK: William G Zikmund, John C Carr and Mitch Griffin, “Business Research Methods”,8th Edition (August 2009), Cengage Learning, ISBN 0324320620, Pg 275-310
  60. 60. APPENDICES:QUESTIONNAIRE:A STUDY ON INVESTOR BEHAVIOR IN SHARE MARKET WITH REFERENCETO KOTAK SECURITIES, COIMBATORE.Dear friend, I wish to study “A Study on Investor Behavior in Share Market with Reference toKotak Securities, Coimbatore.” I request you to spare sometime in filling up thequestionnaire, your experience by answering the following questions. I assure that thisinformation will be kept confidential and used for academic purpose only. Thank you. Yours faithfully, SHRI AVINASH NARENDHRAN S.V. Department of Management Studies, Adhiyamaan College of Engg., Hosur.
  61. 61. 1. Which type of investor are you? (a) Aggressive (b)Moderate (c)Conservative (d) Very Conservative2. What growth do you expect in return? (a) High (b) Average (c) Low3. What is your perception towards Return? (a)Inflation rate (b) High (c) Safety to Principal4. What is your knowledge in investment Scheme? (a) Good (b)Average (c) Low5. Age group (a) 20-30 (b) 30-50 (c) Above 506. What is your view if stock market crash down? (a) State of Investment (b) Wait & Watch (c) State of Withdrawal7. Where you like to invest money? (a) Primary Market (b) Secondary Market (c) Others8. Do you have Demat account? (a) Yes (b) No
  62. 62. 9. Do you have account with Kotak? (a) Yes (b) No10. What other demat account you used before using Kotak Securities? (a)Indiabulls (b)ICICI Direct (c) Sharekhan (d)Geojit (e) No11. Which area you like to invest in share market? (a)Mutual Fund (b) Equity (c) Gold ETF (d) Currency (e) IPO12. What type of trading you prefer? (a)Intraday (b)Delivery (c)Marginal Finance13. How you choose to invest? (a) Self (b) Friends (c) TV + Friends (d) Recommendation by KOTAK14. Are you satisfied with KOTAK Brokerage? (a) Yes (b) No
  63. 63. 15. Grade the KOTAKSECURITIES.COM Excellent Good Average Poor N/AValue 5 4 3 2 1 (e) Brokerage Charged _____________________________________________ (f) Recommendation _____________________________________________ (g) Other facilities _____________________________________________ (h) Customer Satisfaction _____________________________________________ 16. Grade the KOTAKSECURITIES.COM with other Concern N/A Poor Average Good ExcellentValue -2 -1 0 1 2 (a) KOTAK SECURITIES _____________________________________________ (b) ICICI DIRECT _____________________________________________ (c) INDIABULLS _____________________________________________

×