* The document will help the readers to understand the basics of Indian stock market * As well as the detailed company profile about Upstox

1. A report on : -
STOCK MARKET
&
UPSTOX
1st Semester MBA,
TKM institute of management,
Kollam.
Date : - 27/09/2021
Page 1 of 22
Mr Venukuttan S,

2. CONTENT
SI NO. TOPIC PAGE NO
1 STOCK MARKET Page 3 of 22
2 INTRODUCTION TO STOCK MARKET Page 3 of 22
3 MY FAVOURITE INDUSTRY Page 4 of 22
4 INDIAN STOCK MARKET Page 4 of 22
5 SECURITIES AND EXCHANGE
BOARD OF INDIA (SEBI)
Page 5 of 22
6 STOCK BROKER Page 6 of 22
7 UPSTOX Page 7 of 22
8 COMPANY PROFILE Page 7 of 22
9 WHY UPSTOX IS MY FAVOURITE Page 9 of 22
10 FOUNDERS OF UPSTOX Page 9 of 22
11 UPSTOX INVESTORS Page 10 of 22
12 UPSTOX PLATFORMS(PRODUCTS) Page 11 of 23
13 FEATURES OF UPSTOX Page 12 of 22
14 ADVANTAGES OF UPSTOX Page 12 of 22
15 UPSTOX ACCOUNT OPENING & TRADING
PROCEDURES
Page 13 of 22
16 REASON BEHIND THE UPSTOX LOGO Page 14 of 22
17 UPSTOX AND IT`S COMPETITORS Page 16 of 22
18 UPSTOX REVENUE Page 18 of 22
19 LATEST NEWS ON UPSTOX Page 19 of 22
20 CONCLUSION Page 22 of 22
Page 2 of 22

3. STOCK MARKET
INTRODUCTION TO STOCK MARKET
Stock Market is a place where shares of pubic listed companies are traded. The primary market is where
companies float shares to the general public in an initial public offering (IPO) to raise capital.
Once new securities have been sold in the primary market, they are traded in the secondary market—where one
investor buys shares from another investor at the prevailing market price or at whatever price both the buyer and
seller agree upon. The secondary market or the stock exchanges are regulated by the regulatory authority. In India,
the secondary and primary markets are governed by the Security and Exchange Board of India (SEBI).
A stock exchange facilitates stock brokers to trade company stocks and other securities. A stock may be bought or sold
only if it is listed on an exchange. Thus, it is the meeting place of the stock buyers and sellers. India's premier stock
exchanges are the Bombay Stock Exchange and the National Stock Exchange.
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4. MY FAVOURITE INDUSTRY
Stock market is my favorite industry ,because I am a STOCK TRADER(Intraday trader), I relish the chance to
be challenged by the unpredictable every day of the week. Being able to take on risk, implement my own
strategies and be rewarded for the money I bring into a firm is only a small part of my decision to become a
trader.
Trading is often viewed as a high barrier-to-entry profession, but as long as we have both ambition and
patience, we can trade for a living (even with little to no money). Trading can become a full-time career
opportunity, a part-time opportunity, or just a way to generate supplemental income.
INDIAN STOCK MARKET
India has two main stock exchanges ;
1) NATIONAL STOCK EXCHANGE (NSE)
The NSE National Stock Exchange is the leading stock exchange of India. It is the fourth largest in the world
(based on equity trading volume). Based in Mumbai and established in 1992, it was the first stock exchange
in India to offer a screen-based system for trading. The NSE or National Stock Exchange is the leading stock
exchange of India. It is the fourth largest in the world (based on equity trading volume). Based in Mumbai
and established in 1992, it was the first stock exchange in India to offer a screen-based system for trading.
The NSE was initially set up with an aim to usher in transparency to the Indian market system, and it has
ended up delivering on its aim quite well. With the help of the government, the NSE successfully offers
services such as trading, clearing as well as the settlement in debt and equities comprising domestic and
international investors.
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5. 2) BOMBAY STOCK EXCHANGE (BSE)
The BSE or the Bombay Stock Exchange is a lot older than its cousin. It was Asia’s first stock exchange. With
a trading speed of 6 microseconds, the BSE is the fastest stock exchange in the world.
The BSE does have some interesting history. A man named Premchand Roychand founded the Native Share
and Stock Brokers Association in the 19th century. In those times, it used to function in Dalal Street under a
banyan tree - where traders would gather together to buy and sell stocks. Gradually, the network expanded
and the exchange was established by the name of Bombay Stock Exchange in 1875.
SECURITIES AND EXCHANGE BOARD OF
INDIA (SEBI)
The Securities And Exchange Board Of India called SEBI is the regulatory authority established under the
SEBI act 1992 and is a regulator for stock exchanges in India. SEBI has major and primary functions include
protecting the investor interests, promoting and regulating the Indian securities markets. The SEBI set up
originally in April 1988, became a legal entity in March 1992.
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6. STOCK BROKER
A stockbroker is a middleman who has the authority to buy and sell stocks and securities in a stock exchange
on the investor’s behalf
Stocks are traded through exchanges. However, an investor cannot directly trade in stock exchanges. To buy
a stock or sell a stock through exchanges, you need an intermediary who will help you with the transaction.
This middleman can be a person or a company who is authorised to buy and sell stocks and other securities
on your behalf. Such a person or a company is known as a stockbroker. Stockbrokers are generally associated
with a stockbroking firm, but they can also be an independent person. For providing this service, a
stockbroker charges a commission or a fee.
When understanding stockbroker meaning, one should note that a stockbroker is performing a service for
the investor. The role of a broker is to buy and sell shares for a client. Stockbrokers also play another vital
role; they provide information that helps an investor make correct investment decisions.
Let us look at the services a stockbroker traditionally provides to its clients in greater detail.
1.Stockbrokers give accurate advice on buying and selling stocks and other securities. Since they know the
markets, they can advise a client on what stocks to buy and sell and when to buy or sell them. They
thoroughly research securities before making such recommendations
2.Stockbrokers buy and sell shares on behalf of their clients and handle the associated paperwork. They
also act as a record keeper and keep records of all transactions, statements and so on
3.Stockbrokers manage the client’s investment portfolio and provide regular updates to their clients about
their portfolios. They also answer investment questions that a client may have
4.Stockbrokers inform their client about any new investment opportunity in the stock market
5.Stockbroker also helps a client to make changes in investment strategies depending on the market
conditions
TOP STOCK BROKERS IN INDIA
▪ ZERODHA
▪ UPSTOX
▪ ICIC SECURITIES
▪ HDFC SECURITES
▪ ANGEL BROKING
▪ 5PAISA
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7. UPSTOX
COMPANY PROFILE
Upstox Private limited is an Indian stock broking company. The company headquarter is in Mumbai, India.
The company offers online investments in stocks, derivatives, commodities, currencies, mutual funds and
ETFs for both professional traders and investors.
Upstox has also ensured full transparency in pricing by offering zero brokerage on equity delivery trades and
up to Rs. 20 per order for intraday, F&O, commodities, and currencies. The company ensures that its clients
reap the benefits of a high-tech online trading platform and the best-in-class services every step of the way—
from the time they open an account to executing financial services.
The brand name Upstox and logo are the registered trademarks of RKSV Securities India Pvt. Ltd. The cost-
effective brokerage plans make Upstox a trustworthy and reliable online stockbroker.
In January of 2012, they set out on a mission. How could simplify the trading and investing experience in
India? How could increase investor participation in the capital markets?
Then they realized that there were three important factors traders truly cared about. Pricing, customer
support, and powerful trading software that was easy to use. Little did they know that within a few years,
Upstox would be launched(2015).
Over the past four and a half years, the company focused on the first two factors. Free equity delivery trading
and a flat Rs. 20 order pricing model took care of the pricing component. With customer service, they
continuously track two simple metrics. Calls must get answered within 30 seconds, and 10+ languages had
to be supported.
The third factor - trading software- was the difficult one to address. Many questioned their decision to not
continue with company existing trading platform. After all, virtually all other brokers in India use it. Why re-
invent the wheel, many asked to them?
Re-inventing the wheel
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8. At the end of the day, They realize that a user's trading experience had to be enjoyable. It had to be mobile-
first, ensuring that anybody with a smartphone could place trades. Users also had to be able to trade on the
web, right on their favorite browser. They identify that they could provide their users the best trading
experience in India right on their smartphones and browsers.
At the same time, they also knew that it was time to begin thinking about rebranding the company. They
would now become what they have always wanted to become: a product-first company. While other brokers
focus on low pricing and keep the user experience as an afterthought, they would do the opposite: generate
a great trading experience by emphasizing product and design while ensuring that pricing was kept low.
They wanted to create a lasting brand that reflected what they passionately believed in: that any citizen of
India, with the right investing and trading tools at their disposal, could build wealth by trading through the
stock markets.
With all this in mind, They are proud to announce that They have re-branded RKSV to Upstox. Upstox
perfectly embodies everything they stand for. A powerful and easy to use trading app that will empower
traders for years to come. At the same time, one of their primary goals has always been to make it easier for
investors to build wealth through the stock markets. By buying and holding stocks for the long term, where
the markets generally go up over time, investors can take control of their finances.
POINTS INFORMATIONS
Company name Upstox Private limited
Founders Ravi kumar,Kavitha Subramanian & Shrini
viswanath
Date of establishment 2015
Headquarters Mumbai,India
Company status Active
Telephone No 022-24229920
Website www.upstox.com
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9. WHY UPSTOX IS MY FAVORITE
Upstox is my favorite stock broker because, The cost-effective brokerage plans make Upstox a trustworthy
and reliable online discount stockbroker. Available on both the web and mobile, it offers unmatched
convenience to traders.
Upstox is certified with the market regulator Securities and Exchange Board of India (SEBI). It has exchange
memberships with all the leading exchanges in India, including the NSE, BSE, and MCX. It is safe and a
convenient option for all your stock market trading needs.
Upstox is one of the best discount brokers in India, especially for the traders. One side the
Upstox provides the fastest trading platforms which are the main need to book the high profits in day
trading. On the other side, we only need to pay only a flat Rs 20 per trade irrespective of your trade volume.
FOUNDERS OF UPSTOX
RAVI KUMAR
Ravi is a co-founder at Upstox and serves on its Board of Directors. He holds a Bachelor of Science degree in
Computer Science from the University of California, Irvine. Ravi works on product and investor relations at
Upstox. Prior to Upstox, he worked on trading his own capital alongside his brother Raghu, where they
devised various automated trading strategies to trade on foreign exchange markets worldwide. Ravi also
spent time working at thinkorswim/TD Ameritrade in engineering and business development roles.
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10. KAVITHA SUBRAMANIAN
Kavitha is a co-founder at Upstox and serves on its Board of Directors. She leads growth, strategy, finance,
and customer experience at Upstox. Kavitha holds B.Tech and M.Tech degrees in Electrical Engineering from
the Indian Institute of Technology, Bombay as well as an MBA from the University of Pennsylvania’s Wharton
School. Prior to Upstox, Kavitha was a private equity investor at Leapfrog Investments and Actis Investments,
where she specialized in healthcare deals. She was a management consultant with McKinsey and Co. and
also worked in microfinance at SKS Microfinance.
SHRINI VISWANATH
Shrini is a co-founder at Upstox and serves on its Board of Directors. Shrini leads technology at Upstox. He
holds a Bachelor of Science degree from the University of Illinois, Urbana Champaign. An expert in high-
frequency trading, he has spent considerable time building low latency highly scalable systems in the field
of automated trading. Prior to Upstox/RKSV, Shrini worked at Citibank in various management roles.
UPSTOX INVESTORS
The company is backed by a group of investors including Ratan Tata, Tiger Global and GVK Davix.
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11. Upstox investor includes:
Tiger Global Management - 31.1% stake
Kalaari Capital Partners - 15.21% stake
GVK Davix Technologies - 2.54% stake.
Ratan Tata - 1.33% stake(as on 2020)
Remaining 50% stacks are with the promoters of the company which includes Mr. Ravi Kumar and Mr.
Shrinivas Viswanath.
UPSTOX PLATFORMS(PRODUCTS)
UPSTOX PRO MOBILE
Upstox Pro mobile App is the best and most efficient in form of a mobile app as per the user reviews
and feedbacks. you can track the scripts marked as favorites, monitor the market by making use of the
charting tools and several technical indicators. The App is available on both Android and IOS devices
UPSTOX PRO WEB
It is a browser-based platform that has many sophisticated features like Algo trading, technical
indicators, charts, and API integration. These features are actually very supportive and handy when comes
to understand and analyze the market accurately. The platform provides real-time market data and also
comes with a drag and drop feature to drag the scrip in the chart screen to see in the form of a chart.
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12. FEATURES OF UPSTOX
1. Demat account opening service
2. Trading account opening service
3. Intraday services
4. IPO services
5. Advisory
6. Upstox uses socket technology, which allows accessing real-time market data faster.
7. Allow users to perform technical analysis easily with the help of many indicators in charting tools.
Candlestick chart can be set from 1 minute to 1-month duration and also orders can be placed directly from
the chart.
8. Drag and Drop facility provides users to drag scrip on chart screen to get the scrip view in chart form.
9. Customizable themes, layouts, and alerts as per user preferences.
10. Keyboard shortcut availability to access different features to save time.
11. Users can get the stock history of the last 10 years for analysis.
ADVANTAGES OF UPSTOX
1. The demo is easy to understand, and it will teach you how to trade without losing a dime.
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13. 2. It offers the option to trade across the available exchanges.
3. Super fast and powerful, making it one of the outstanding stock trading software in India. You will get fast
and precise market data with both Upstox Pro Mobile and Upstox Pro Web.
4. Handy yet helpful features and easy-to-operate user interface.
5. Helps to create own trading strategies, making use of guides, documents, libraries, and their API.
6. Easy login to study market without really opening an account.
7. The broker responds quickly to all kinds of trading complaints and queries submitted by the customers or
investors.
8. Users can place After Market Orders (AMO) between 4a.m – 9a.m and 6:30p.m – 12a.m. The order gets
executed in next trading session 9:15a.m sharp.
9. Software updates every 2-3 weeks.
10. In the web platform, users can shuffle across different widgets.
UPSTOX ACCOUNT OPENING & TREADING
PROCEDURES
Prerequisites for account opening
1. To open a paperless account with Upstox, you need the following information or scan documents:
• Aadhar Number
• PAN Number
• Canceled Cheque (Scanned)
• Bank Statement (Scanned)
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14. • Signature Copy (Sign on an empty paper and scan)
2. Make sure that your Aadhar Number is linked with your correct mobile number. The process of online
account opening requires you Aadhar number validated using OTP.
Steps to Opening Upstox Account
1. Visit Upstox.com and go to account opening page.
2. Create an account by entering your email ID, creating a password and mobile number.
3. Enter your PAN card, Aadhar Card and verify with OTP sent on your mobile.
4. Pay the required fees for opening the account through the integrated payment gateway. The fees are
based on the type of instruments like Equities, Derivatives, and Commodities etc., you want to trade.
5. Upload the documents mentioned above and choose the pricing plan.
6. Review and confirm the application.
7. Submit the application.
8. In a few minutes, you will receive an email with 2 attachments- a Demat form and a PoA (Power of
Attorney) form.
9. You will receive the User ID and password required to sign in to your Upstox account with 24 hours
of the activation of the account.
Steps to buy shares in Upstox
• Log in to the upstox pro website or mobile app
• Transfer funds from your bank to trading account
• In the watchlist, search for the desired company
• Enter order details like quantity, order type, position, validity etc.
• Review and confirm the order
Note :-
Shares are credited in demat account after T+2 days where T is the day of trading.
REASON BEHIND THE UPSTOX LOGO
WHY THE ARC ?
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15. As a form, the arc is abstract. It captures upward movement in an intuitive way, without relying on narrow,
literal concepts like graphs or charts. The arc slots neatly into place at the fore of the 'u', creating a custom
letter form that is a modern take on the decade-old way of writing—on paper, in cursive.
The new look is meant to be a reminder of Upstox’s tremendous growth over the last decade and the new
phase in our journey - one that keeps going up! The word ‘UP’ also captures their story of growth far more
instinctively.
‘UP’ is universal.
One that everyone aligns with, and a story everyone wants to be a part of.
‘UP' integrates naturally with Upstox,
At the most basic conceptual and linguistic level.
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16. Purple —The shade that represents the wisdom of age-old investing made modern.
It also illustrated the creativity constantly embedded into their products, the wealth they wish to help their
customers create and the undying ambition of Upstox to keep doing better.
And, purple being a strong yet subtle colour, allows us to make room for our future endeavors. A future that
revolves around you, leading the way UP!
UPSTOX AND IT`S COMPETITORS
ZERODHA BROKING LIMITED is considered as the prime competitor against the upstox private limited
company .Upstox is known as the fastest growing discount broker and the zeroda is known as the biggest
stock broker in India.
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17. Both Zerodha and Upstox are the most preferred discount brokers in India with zero delivery charges and a
low flat charge of Rs. 20 for trading.
We can trade large volumes while paying a nominal fee of Rs 20 per trade.
From the upfront, Upstox and Zerodha are the same in terms of charges and benefits. One side Zerodha is
the largest discount broker with more than 12 lakh customer, other side, Upstox recently crossed the 10 lakh
customer mark.
However, there are some differences. Zerodha is always the most trusted and first preference for the traders,
whereas Upstox is the fastest emerging discount broker in the last 2 years.
We can expect better customer support from the Zerodha and can get amazing deals like free brokerage
credit from Upstox.
We can open an account with any between Upstox and Zerodha based on your requirements. Both the
brokers provide a far better service than the other discount brokers.
Upstox Vs Zerodha Comparison
PARTICULARS UPSTOX ZERODHA
Can trade in Stocks,equity F&O,currency F&O
and commodity F&O
Stocks,equity F&O,currency F&O
and commodity F&O Bonds and
Govt Securities
Equity delivery Rs.0 Rs.0
AMC Fees Rs. 25 per month Rs. 300 per month
Account opening charges RS 299 Rs 200
Margin for intraday Upto 20x Upto 15x
Charges for trade RS .20 per oder RS .50 per oder
Other top cpmpetitos of upstox are ;
• 5 paisa
• ICIC Bank
• HDFC Bank
• Angel broking
• Groww
Etc.
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18. UPSTOX REVENUE
Upstox collected 80.7% of its income through brokerage and allied services fees charged from users on its
platform. These collections grew by 104.05% to Rs 124.9 crore in FY20.
Further, interest on bank deposits earned 14.5% of the total income while miscellaneous non-operating
income accounted for the rest 4.8%.
The growth was evident for the share trading platform floated by RKSV Securities but it sure came at a price.
The Tiger Global-backed company increased its scale of operations 2.01X but its annual expenditure
ballooned 3.11X to nearly Rs 187 crore during FY20.
The costs incurred on employee benefits surged 2.5X to Rs 32.4 crore in FY20 from Rs 13.09 crore in FY19.
Costs attributable to directors’ remuneration made up 25% of these expenses and grew 3.7X during the same
period.
During FY20, Upstox’s expenditure on advertisement and promotion had grown 6.6X to Rs 47 crore from
only Rs 7.1 crore spent on the same during FY19. Upstox has also signed a two-year sponsorship deal with
the Board of Control for Cricket In India to be an official partner of the Indian Premier League. The deal will
reportedly cost the company Rs 45 crore per year.
Upstox paid Rs 15.2 crore as sub brokerage expenses in FY20 which increased 2.5X from Rs 6.06 crore paid
in FY19. Costs related to clearing fees and e-sign charges also jumped 3.3X to Rs 7.7 crore in FY20.
Costs related to transaction processing surged by 68.7% to around Rs 28 crore while customer support
expenses jumped 3.5X to Rs 25.2 crore during FY20.
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19. Upstox paid Rs 20.2 crore as legal and professional charges which ballooned 6.7X during the fiscal FY20.
Rental and office costs of Rs 5.5 crore pushed the net cash flow from expenses to Rs -85.02 crore during FY20
from positive inflows of Rs 32.02 crore in FY19.
Upstox had posted a post-tax profit of Rs 13.06 crore in FY19 but with an increase in costs, it slipped into
losses of nearly Rs 38 crore during FY20. Its EBITDA margins have also depleted severely from 19.57% in FY19
to -24.35% in FY20.
The financial performance of Upstox hasn’t been great in FY20 but still, it is healthy when we compare it
with other growth-stage startups in the B2C space. It looks like the company had prioritised scale after raising
funds from Tiger Global in FY20.
Upstox was profitable in FY19, however, on the lines of FY20, the company is likely to post a loss in FY21 as
online stock buying space has turned hyper-competitive with Zerodha, Paytm Money and Sequoia-backed
Groww.
While Upstox has continued to be the second top player in the stockbroking space until now, it’s likely to
face an enormous threat from Paytm Money and Groww which is in talks to mop up over $100 million from
Tiger Global and Ribbit Capital.
LATEST NEWS ON UPSTOX
1. Economic Times
(Sep 22, 2021, 03:45 PM IST)
Ratan Tata-backed Upstox aims to double user base with platform revamp
2. Economic Times
(Jul 03, 2021, 03:23 PM IST )
Over 70% of customers first-time investors: Upstox
3. Economic Times
(Apr 22, 2021, 12:42 PM IST)
Coming from nowhere, Upstox now wants to dominate India's financial landscape
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20. 4. Economic Times
(Apr 21, 2021, 02:53 PM IST)
Upstox aims to grow its user base 3-4 times in 2021
5. Economic Times
(Apr 13, 2021, 12:55 PM IST)
Have the potential to become largest broker in the world, say Upstox’s co-founders
6. Economic Times
( May 25, 2021, 05:27 PM IST )
Zerodha, Upstox tap YouTube, Instagram influencers to target young investors
7. Economic Times
( Oct 19, 2020, 02:18 PM IST)
What made Upstox India’s second largest stockbroker after Zerodha
8. Economic Times
(Oct 12, 2020, 09:31 PM IST)
Upstox becomes India's second largest stock broker after Zerodha
9. Economic Times
(Jul 19, 2021, 10:46 AM IST)
Upstox ropes in Thippesha Dyamappa from Amazon as CTO
10. Economic Time
(Apr 12, 2021, 10:40 AM IST)
Upstox takes a leaf out of Tata, Bezos books as it eyes 300 million users
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21. 11. Economic Times
(Mar 16, 2021, 12:33 PM IST)
Online broker Upstox becomes official partner of IPL
12. Business Standard
(April 22 2021 00:19 IST)
Upstox eyes 3-4 times growth in its customer base this year to 6-8 mn
13. Business Standard
(June 18 2021 13:50 IST)
ICC inks three years sponsorship deal with online brokerage Upstox
14. Business Standard
(March 31 2021 00:45 IST)
Strong demat account addition is here to stay: Ravi Kumar of Upstox
15. The Times Of India
(Mar 17, 2021, 09:59 IST)
With Upstox on board, IPL 2021 revenue surges
16. Mint
(21 Apr 2021)
Brokerage firm Upstox aims to grow 3-4 times in 2021 compared to previous year
17. Mint
(10 Apr 2021)
Upstox's IPL campaign urges people to try online investing
18. Mint
( 27 Feb 2021)
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22. Digital stockbroking firm Upstox becomes IPL's latest official partner
19. Mint
(18 Jul 2021)
Tamil Nadu Premier League signs Upstox, Shriram Capital as partners
20. The Indian Express
(April 11, 2021 4:52:13 pm)
Upstox alerts users of data breach; says funds, securities remain safe
21. Financial Express
(May 04, 2021 8:55 AM)
Saw 5-fold growth in account opening by women last year’: Ravi Kumar, co-founder and CEO
CONCLUSION
Upstox has been revolutionising the concept of discount broking in India through innovative technology and
unbeatable pricing. Upstox was founded with the vision of making financial investing easy, equitable, and
affordable to all Indian investors. It offers online investments in stocks, derivatives, commodities, currencies,
Mutual Funds and ETFs for both professional traders and investors. It has also ensured full transparency in
pricing by offering zero brokerage on equity delivery trades and up to Rs. 20 per intraday order for Intraday,
F&O, Commodities, and Currencies. Upstox ensures that its clients reap the benefits of a high-tech online
trading platform and best-in-class services every step of the way-from the time they open an account to
executing trades and beyond. It was the first in the industry to introduce commission-free trading. The
company will continue to be driven by its guiding principle of making trading in stock markets simple and
affordable for all. They are growing very rapidly but the thing with Upstox founders we can learn is they
bootstrapped them and took it to the unicorn are funded by India’s one of the most trusted person Shri
Ratan Tata.So we can trust this broker as it is backed by a strong financial group.
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