Analysis Of Top Stock Brokers Of India

IRJMST Volume 5 Issue 2 Online ISSN 2250 - 1959
International Research Journal of Management Science & Technology
http:www.irjmst.com Page 128
Analysis of top stock brokers of India
Ms. Shuchita Verma
Assistant Professor
Daulat Ram College
(Department of Commerce)
E-Mail- shuchita131@gmail.com
University of Delhi
Mr. Naveen Chaudhary
Assistant Professor
Lakshmibai College
(Department of Economics)
E-mail – naveenchaudhary1711@gmail.com
Abstract
Investing in equities is a current investment trend. Every individual is interested to reap
benefits out of investment in share market .But due to lack of proper technical knowledge
people are not able to derive full benefits out of it. Here, stock brokers play a major role.
They give a common person direction and guidance for investment purposes .This paper
throws light on the profile of Indian stock market and major stock brokers, their products
and portfolios.

Objective
To understand the working of stock broking firms and the benefits they
offer to customers
Introduction
A stock market (also known as a stock exchange) has two main
functions.The first function is to provide companies with a way of issuing
shares to people who want to invest in the company. This can be
illustrated by an example: Suppose a company has a mining lease over an
area with some rich ore deposits.It wants to exploit these deposits,but he
doesn‟t have any equipment.To buy the equipment he needs money.One
way to raise money is through the stock market.The company issues a
prospectus, which is a sort of advertisement informing people about the
prospects of the company and inviting them to invest some money in
it.When the company is „floated‟ (established) on the stock
market,interested investors can become part-owners of the company by
buying „shares‟.
If the company operates at a profit, shareholders benefit in two ways –
through the issuing of dividends in the form of cash or more shares,and
through growth in the value of the shares. On the other hand,if the
company does not operate at a profit (e.g., if the price of the product
dips), the shareholders will probably lose money. The second function of
the stock market,related to the first,is to provide a venue for the buying
and selling of shares.
Most of the trading in the Indian stock market takes place on its two stock
exchanges: the Bombay Stock Exchange (BSE) and the National Stock
Exchange (NSE). The BSE has been in existence since 1875. The NSE, on
the other hand, was founded in 1992 and started trading in 1994.
However, both exchanges follow the same trading mechanism, trading

hours, settlement process, etc. At the last count, the BSE had about 4,700
listed firms, whereas the rival NSE had about 1,200. Out of all the listed
firms on the BSE, only about 500 firms constitute more than 90% of its
market capitalization; the rest of the crowd consists of highly illiquid
shares.
Almost all the significant firms of India are listed on both the exchanges.
NSE enjoys a dominant share in spot trading, with about 70% of the
market share, as of 2009, and almost a complete monopoly in derivatives
trading, with about a 98% share in this market, also as of 2009. Both
exchanges compete for the order flow that leads to reduced costs, market
efficiency and innovation. The presence of arbitrageurs keeps the prices
on the two stock exchanges within a very tight range.
Origin of the Indian Stock Market
The Indian stock market is not a new concept. It has a history of about 299 years old. It
was in early 18th Century, the main institution that is dealing in the trading of shares and

stocks is the East India Company. Later by around 1830′s the main dealing in the shares
and stocks (mainly in bank and cotton) was initiated in Bombay. However, the items in
which the trading took place increased tremendously by the end of 1839. There after the
concept of broker business was started which show momentum in the mid 18th century.
This concept has attracted nmember of people to indulge in the trading of items. By
1860, the number of brokers who are dealing in the trading of items goes up to 60 in
number. Further, the number of brokers increased from 60 to 250 in around 1862-
1863.78However, around 1980-61 there is no supply of cotton from America as there was
civil war that took place in America. Due to this, there is a concept of Share Mania that
took place in India.This is the era of 1980 in which the Indian market had the initial
flavor of the trading in items and the concept of Stock market. Thereafter, it has shown
significant changes both in the pre-independence era and post independence era.
Pre-Independence Era
The concept of stock market place was not a very systematic system. People who needs
to trade generally gathered on the streets which was popularly known as the DALAL
STREET and the trading and the transaction used to take place from the Dalal street. It
was in year 1875 that the first stock exchange was formulated in the name of “The Native
Share and Stock Brokers Association” which is presently known as the ” Bombay stock
exchange”. There after it was in year 1908, that the stock exchange in Calcutta was
formulated known as ” The Calcutta Stock Exchange Association”. This wind of stock
exchange has also shown its pace in madras in 1920 resulting in the formation of the
Madras Stock exchange which was started with around 100 brokers who are trading in
the madras Stock exchange. It was in 1934 when the Lahore Stock exchange was
established. The Uttar Pradesh stock exchange and the Nagpur stock Exchange was
established in year 1940. In year 1944,the Hyderabad stock exchange was established. It
was not until 1947 that any stock exchange was established in Delhi. It was in year 1947
that the “Delhi Stock and Share Broker Association Limited” and “The Delhi stocks and
Shares exchange Limited” was established in Delhi.
Post-Independence Era
There was shutdown of various stock exchanges in India due to the depression that took
place after Independence. It was under the Securities Contracts (Regulations) Act, 1956
that various stock exchanges has got a recognition as a recognized stock exchange such

as Bombay, Delhi, Hyderabad, Indore etc. there are several other stock exchanges that
were established post independence. Thus, the market of stock exchange in India is
tremendous and is growing with leaps and bounds.
In earlier times, the trading, that is, the buying and selling of shares and stocks
takes place at a particular place known as stock exchange. Thus, the person needs to
go at that particular platform if he or she needs to trade in the shares. However with
the advancement of technology, this process has almost become redundant. Now, the
trading of shares and stock can take place electronically. There is a tremendous
reduction of paperwork as everything has gone online
There are two forms of shares physical or dematerialized (demat)
shares.Though the company is under obligation to offer the securities in
both physical and demat mode,one has the choice to receive the securities
in either mode.If any one wish to have securities in demat mode,he need
to indicate the name of the depository and also of the depository
participant with whom he had depository account in his application.It is,
however desirable that one should hold securities in demat form as
physical securities carry the risk of being fake, forged or stolen. Just as
one has to open an account with a bank if one wants to save his
money,make cheque payments etc.Nowadays,one needs to open a demat
account if he want to buy or sell stocks.So it is just like a bank account
where actual money is replaced by shares.One has to approach the DPs
(they are like bank branches),to open their demat account.Let's say one‟s
portfolio of shares looks like this:150 of DLF,50 of Axis Bank,200 of
GMR Infra and 100 of RIL.All these will show in their demat account.
They are all held electronically in the account.As one buys and sells the
shares,they are adjusted in one‟s account.Just like a bank passbook or
statement,the DP will provide with periodic statements of holdings and
transactions.
Nowadays,practically all the trades have to be settled in dematerialized
form.Although the market regulator,the Securities and Exchange Board of

India (SEBI),has allowed trades of up to 500 shares to be settled in
physical form,nobody wants physical shares any more.So a demat account
is a must for trading and investing. Most banks are also DP participants,
as are many brokers.
ONLINE TRADING BY NSE & BSE
The central computer located at the Exchange is connected to the
workstations of the Brokers through satellite using Very Small Aperture
Terminals (VSATs).Orders placed at the Brokers' workstations reach the
central computer and are matched by the computer based on price and
time priority.
Both the exchanges have switched over from the open outcry trading
system to a fully automated computerized mode of trading known as
BOLT (BSE on Line Trading) and NEAT (National Exchange Automated
Trading) System.It facilitates more efficient processing, automatic order
matching,faster execution of trades and transparency.The scripts traded on
the BSE have been classified into 'A','B1', 'B2', 'C', 'F' and 'Z' groups. The
'A' group shares represent those, which are in the carry forward
system.The 'F' group represents the debt market (fixed income securities)
segment.The 'Z' group scripts are the black listed companies.The 'C' group
covers the odd lot securities in 'A', 'B1' & 'B2' groups and Rights
renunciation.
REQUIREMENTS FOR NET TRADING:

For investors:
1. Installation of a computer with required specification
2. Installation of a modem
3. Telephone connection
4. Registration for on-line trading with broker
5. A bank account
6. Depository account
7. Compliance with SEBI guidelines for net trading
PROCEDURE FOR NET TRADING
Step 1: Those investors, who are interested in doing the trading over
internet system i.e. NEAT-IXS, should approach the brokers and get them
self registered with the Stock Broker.
Step 2: After registration, the broker will provide to them a Login
name,Password and personal identification number (PIN).
Step 3: An order can then be placed by the Clients by calling the broker
and asking him to buy or sell at the stated price.
Step 4: The investor will receive an "Order Confirmation" message along
with the order number and the value of the order or will be intimated by
the broker through phone call.

Step 5: In case the order is rejected by the Broker or the Stock Exchange
for certain reasons such as invalid price limit,an appropriate message will
appear at the bottom of the screen.At present, a time lag of about 10
seconds is there in executing the trade.
Step 6: It is regarding charging payment, for which there are different
mode. Some brokers will take some advance payment from the investor
and will fix their trading limits. When the trade is executed,the broker
will ask the investor for transfer of funds to his account.
Internet trading provides total transparency between a broker and an investor in the
secondary market.In the open outcry system, only the broker knew the actually
transacted price. Screen based trading provides more transparency.With online trading
investors can see themselves the price at which the deal takes place.The time gap has
narrowed in every stage of operation.Confirmation and execution of trade reaches the
investor within the least possible time, mostly within 30 seconds. Instant feedback is
available about the execution.
THE MECHANICS OF ONLINE TRADING
Client ---Places an order by calling up broker----The settlement of
the deal (buy/sell order) gets reflected in his Demat account.----- The
client is intimated about the execution of the deal by message or phone
call ---Pays the broker pending balance.

Broker-Accepts the order, Checks the client‟s Identity and places the
order with the stock--Pays the Exchange Though his owns account and
receives it from the client account
Stock exchange--Accepts the order after checking the scrip limit of
the broker for the day .---Executes the order--Receives the money and
completes the settlement
PROCEDURE FOLLOWED IN ONLINE TRADING:
Following steps explain the step by step approach to on-line
trading:
 Register as client/investor and obtain user ID and password
 Clients can place their order with brokers by simply calling up the
broker and communicating with him about the deal he want to place for
buying or selling of securities using his user ID.
 Broker`s server will check clients limit in the on-line account and
demat account for the number of shares and execute the trade.
 Order is executed instantly (10-30 seconds) and confirmation can be
obtained.
 Broker confirms the client about the deal on phone as even by mailing
him.
 Settlement will take place automatically on the settlement day
 Demat account and the bank account will get debited and credited by
electronic means.

Login
Buy transaction Sell transaction
The system will check buying The system will check DP
Limits Account
Orders accepted Rejected orders would be Orders accepted
Communicated along with reasons
Order is transmitted to exchange for execution
Pending buy orders on execution pending sending orders
Would be displayed of orders would be displayed On screen
on screen
Pending order pending order pending order pending order
Can be edited can be deleted can be edited can be deleted

It Flashed on confirmation could contract note would
Screen immediately be send to be sent to by mail
On execution e-mail and mobile or hand delivery
STOCK ANALYSIS
In stock market mainly there are two type of analysis for to find right shares for
investment- Fundamental analysis and Technical Analysis. How will you choose the right
company for investment at right price? Here come the importance of fundamental and
technical analysis.
TECHNICAL ANALYSIS
Technical analysis is a method of evaluating future security prices and market directions
based on statistical analysis of variables such as trading volume,price changes,trends
etc. to identify patterns. The stock market used to be filled with technical analysts
deciding what to buy and sell,until it was decided that their success rate is no better
than chance.Now technical stock analysis is virtually non-existent.There are many
instances of investors successfully trading a security using only their knowledge of the
security's chart,without even understanding what the company does.Technical analysis
helps to understand the pattern or trend of the market or of the particular stock/script.
Technical analysis through stock charts

FUNDAMENTAL ANALYSIS
Fundamental analysis looks at a share’s market price in light of the company’s
underlying business proposition and financial situation.It involves making both
quantitative and qualitative judgments about a company.Fundamental analysis is
carried out by taking expected EPS and expected earning into consideration with
Discounted Future Cash Flows.Fundamental analysis can be contrasted with 'technical
analysis’, which seeks to make judgments about the performance of a share based solely
on its historic price behavior and without referring to the underlying business,the sector
it's in,or the economy as a whole.
The fundamental analyst observes trends, market and price movements, company
financial statements, interest rates, return on equity (ROE), and numerous other
indicators with one goal in mind: buying or selling stocks that will provide a high return
on investment (ROI).The primary reason being that these statements and co.’s ratios
examine profitability from the point of view of investors.

For example: Net Earnings of ABC Ltd. Is Rs.4,62,000 out of which co. pays Rs.20000 as
preference dividend.The total net worth of co. is Rs.3508000.
Therefore, Co.’s ROI = PAT – PREFERENCE DIVIDEND x 100
NET WORTH
= 4,62,000 – 20,000 X 100 =12.6%
35,08,000
ANALYSIS: Since the co.‟s ROI calculated above is satisfactory.
It show that the firm has been able to earn satisfactory return for
the owners.Therefore,the investors would probably be most
interested in ROI analysis.
SOME STOCK BROKING FIRMS
Brokerage firms are the business entities that deal with stock trading. India, with an
increasing capital market and a growing number of investors, has a number of brokerage
firms. In Indian retail brokerage industry, the brokerage firms primarily work as agents
for buying and selling of securities like shares, stocks and other financial instruments and
earn commission for each of the transactions.
List of Top 10 Brokerage Firms in India
Among all the Indian brokerage companies, the top 10 Brokerage Firms
in India can be listed as below:

Name Kotak Securities Limited
Terminals 4320
Sub Brokers 910
No. of Employees 4008
No. of Branches 350
Name Karvy Stock Broking Limited
Terminals 1700
Sub Brokers 19000
No. of Branches 581
Name Indiabulls
Terminals 2876
Sub Brokers NA
No. of Branches 522
Name IL&FS Investment Limited
Terminals 1644
Sub Brokers NA
No. of Branches 294

Name Motilal Oswal Securities
Terminals 7923
Sub Brokers 890
No. of Branches 63
Name Reliance Money
Terminals 2428
Sub Brokers 1494
No. of Branches 142
Name India Infoline
Terminals 173
Sub Brokers 173
No. of Employees NA
No. of Branches 605
Name Angel Broking Limited
Terminals 5715
Sub Brokers NA
No. of Branches NA

Name Anand Rathi Securities Limited
Terminals 1527
Sub Brokers 320
No. of Branches 220
Name Geojit
Terminals 627
Sub Brokers 247
No. of Branches 314

1. SMC GLOBAL SECURITIES
Main Focus: Investor Care

SMC is one of the leading firms in financial services in India.It basically
deals in Mutual Fund,Fixed Deposit Schemes,Capital Gain Bonds,GOI
Taxable Bonds,NABARD Bonds and Life and General Insurance.
SMC: A ONE STOP INVESTMENT SHOP
SMC Group,a leading financial service provider in India is a vertically
integrated investment solutions company.Over the years,SMC has
expanded its domestic & international operations. Existing network
includes regional offices at Mumbai,Kolkata,
Chennai,Bangalore,Cochin,Jaipur,Hyderabad.The company has expanded
internationally and has established office in Dubai Gold and Commodities
Exchange (DGCX).Its products and Services include Institutional and
retail brokerage of equity,commodity,currency,derivatives,online trading,
investment banking,depository services,clearing services,IPO‟s and
mutual funds distribution,Portfolio management,wealth advisory,insurance
broking,equity and commodity research. SMC is one of the most active
trading organizations in India, averaging over 3,50,000 trades per
day.Currently,SMC has a highly efficient workforce of over 4,000
employees & one of the largest retail network in India currently serving
the financial needs of more than 5,50,000 satisfied investors.
PRODUCTS AND SERVICES
EQUITY AND DERIVATIVE TRADING:
SMC Trading Platform offers online equity & derivative trading facilities for investors
who are looking for the ease and convenience and hassle free trading experience.They
provide ODIN Application, which is a high-end,integrated trading application for
fast,efficient and reliable execution of trades. One can now trade in the NSE and BSE

simultaneously from any destination at their convenience.One can access a multitude of
resources like live quotes, charts, research, advice, and online assistance.One can also
trade through their branch network by registering with them as their client.One can also
trade by calling their designated representatives in the branches where one is registered
as a client.
CLEARING SERVICES:
SMC is a clearing member in NSE (F&O & Currency), BSE (F&O &
Currency),MCX,MCX-SX,NCDEX and DGCX.SMC is clearing massive
volumes of trades of their trading members in this segment .
COMMODITY TRADING
SMC is a member of 3 major national level commodity exchanges, i.e. National
Commodity and Derivative Exchange (NCDEX),Multi Commodity Exchange (MCX) and
National Multi Commodity Exchange of India (NMCE) offers trading platform of
NCDEX,MCX and NMCE.One can get Real-Time streaming quotes,place orders and watch
the confirmation,all on a single screen.They use technology using ODIN application to
provide with live Trading Terminals.SMC has spread its wings globally and provide
trading in DGCX(Dubai Gold and Commodities Exchange).
DISTRIBUTION OF MUTUAL FUNDS AND IPO`S:
SMC offers distribution and collection services of various schemes of all Major Fund
houses and IPO’s through its mammoth network of branches across India.SMC is
registered with AMFI as an approved distributor of Mutual Funds.They assure a hassle
free and pleasant transaction experience when one invests in mutual funds and IPO’s
through them.They are registered with all major Fund Houses including Fidelity,
Franklyn Templeton etc.
ONLINE BACK OFFICE SUPPORT:
To provide robust back office support backed by excellent accounting
standards to their branches,they have ensured connectivity through FT P
and net based Application.

SMC DEPOSITORY:
SMC is ISO 9001:2000 certified DP for shares and commodities. They are one of the
leading DP and enjoy the trust of more than 5.5 Lac investors.They offer a quick,secure
and hassle free alternative of holding the securities and commodities in physical
form.They are one of the few Depository Participants offering depository facilities for
commodities.They are empanelled with both NCDEX & MCX.
SMC RESEARCH BASED ADVISORY SERVICES:
SMC`s massive R&D facility caters to the need of Investors,who are
continuously in need of opportunities for striking rich rewards on their
investment.They have one of the most advanced,hi-tech in house R&D
wing with some of the best people,process and technology resources
providing complete research solutions on Equity,Commodities,IPO‟s and
Mutual Funds.They offer proactive and timely world class research based
advice and guidance to their clients so that they can take informed
decisions.
TRADING PROCEDURE AT SMC GLOBAL SECURITIES
SMC deals in buying and selling equity shares and debentures on the
National Stock Exchange (NSE) as well as on Bombay Stock Exchange
(BSE).
SMC is provided with a computer and required software from their
registered stock exchanges.These centers are called “Broker Work
Stations”.These computers are connected to the server at the stock
exchanges through cable.
The member or broker sitting in office can send the quotations,
orders,negotiations,deals,in-house deals,auction orders etc., through the
computer.The Central trading system (CTS) will accept these orders and
send it for match.If there is any mistake in the order,CTS will reject the
orders and send respective error message to the member concern.All these
operations are in built. The main objective of CTS is to monitor the Stock
Exchanges operations.Order placed by the broker will be sent for a match
and if the match is found suitable,the transaction will be
executed.Otherwise, the order will be deleted automatically after
completion of trading time.The carry forward transactions (Good Till
cancellation) are forwarded to the next day.Even if the match is not found
with in the prescribed period,the order will not be cancelled.

TRADING SESSION
Trading timings are from 9:00 A.M. to 3:30 P.M. on all 5 days of the
trading period.Monday to Friday is the trading period in all the stock
exchanges.SEBI has stipulated that all the stock exchanges in India must
have same trading period.
BROKER WORK STATION:
At the broker workstation,the last traded price,the day„s opening
price,previous day‟s closing price,highest and lowest prices,the weighted
average price and total trade value will be available continuously for each
scrip.Other information will be available on query from the broker work
stations.These include top gainers /losers of the day,Trader-wise or scrip
wise net position, client wise net position,top scrip by the
volume/value,market summary etc.
Brokers are also provided with information relating to the companies in
the matter of Book closure,Dividend declarations, resolutions in board
meeting,information about liquidated companies,company report etc.
ORDERS:
Orders can be done one at a time or in a batch mode. The submitted order
is accepted at the CTS,after validation if it finds any invalid reason the
order is return back to the BWS,with the appropriate error message.If
accepted at the CTS it will be added to the local pending order book.The
order will then be taken up for matching,if it is a buy order the system
tries to find a sell order,which fits the requirement of the buy order,when
such match is found a trade gets executed.Orders sent by the brokers are
two types:
 Good for the day (GFD)
 Good till cancellation (GTC)
GOOD FOR THE DAY:
This is also called as “market order”.For an order if the member selects
the deal as good for the day,the order is treated as market order.If a “best
bid” founds match with “best order” then the transaction gets executed.If

the match is not found then after trade time the order gets cancelled that
day.Next day he has to place a new order.
For example if a member wants to purchase 1000 shares of reliance
power @ 400 each through Good for Day order.If the correct match is not
found,order gets cancelled automatically and new quotation has to be
placed the next day.
GOOD TILL CANCELLATION:
This order is forwarded to the last trading day of that settlement
period.This is also called as carry forward order like GFD; broker has to
select the option of GTC for the order.If the order finds match with in the
trading settlement period,the order is executed.If no match is found, the
order is cancelled on the last day of settlement period.This order is not
carried forward to the next settlement period.For example,if a member
place purchase order of 500 shares of SBI @ 690 per share and selects the
order as GTC and place an order.If the match is not found on that day it
will be forwarded to the next day until trading settlement period day.
2. KOTAK SECURITIES LTD.

Kotak Securities Limited, a subsidiary of Kotak Mahindra Bank, is the stock broking
and distribution arm of the Kotak Mahindra Group. One of the oldest broking houses in
India, its operations include stock broking and distribution of various financial products.
It is a corporate member of both the Bombay Stock Exchange and the National Stock
Exchange of India. Kotak Securities was founded in 1994 and is headquartered in
Mumbai, India.
Corporate affairs
As of June 30, 2010, Kotak Securities has Rs. 2250 crore of "assets under management"
(AUM). The company also has a research division involved in macroeconomic studies,
sectoral research and company-specific equity research, which regularly publishes stock
market analysis.
Milestones
 1995: The brokerage and distribution businesses of Kotak Mahindra Bank are
incorporated into a separate company named Kotak Securities.
 2000: Kotak Securities launches its online broking site
(wwww.kotaksecurities.com). Also, the company commences private equity
activity by setting up Kotak Mahindra Venture Capital Fund.
 2006: Kotak Securities Launches Kotak Flat[3]
 2007: Kotak lines up PMS based on small caps[4]
 2008: Kotak Securities launches a GEMS portfolio.[5]
 2009: Kotak Securities launches online trading in currency derivatives[6]

Awards and accolades
 Fastest growing Equity Broking House by BSE IPF - D&B Equity Broking
Awards for the year 2012
 The Best Equity House in India by FinanceAsia for the year 2012[7]
 Voted as Best Local Cash Manager[8]
 Awarded Best Brokerage Firm in India by Asiamoney three times in a row from
2006 to 2008[9]
 Named Best Performing Equity Broker in India in the CNBC Financial Advisor
Awards 2008[10]
 Won the Avaya Customer Responsiveness in the Financial Services Sector Award
consecutively in 2006 and 2007[11]
 Named the Leading Equity House in India in Thomson Extel Surveys Awards,
2007[12]
 Won the Euromoney Award in 2005 for Best Equities House in India and in 2006
and 2007 for Best Provider of Portfolio Management: Equities
 Won the Finance Asia Award in 2004 for India‟s Best Equity House and in 2005
for Best Broker in India
 Won the Prime Ranking Award (2003–04) for largest distributor of IPOs
 Best Broker in India by FinanceAsia for 2010 & 2009[13]
 UTI MF – CNBC TV18 Financial Advisor Awards - Best Performing Equity
Broker (National) for the year 2009
 Best Brokerage Firm in India by Asia0money in 2009, 2008, 2007 & 2006
 Best Performing Equity Broker in India – CNBC Financial Advisor Awards 2008

 Avaya Customer Responsiveness Awards (2007 & 2006) in Financial Services
Sector
 The Leading Equity House in India in Thomson Extel Surveys Awards for the
year 2007
 Euromoney Award (2007 & 2006) - Best Provider of Portfolio Management:
Equities
 Euromoney Award (2005)-Best Equities House In India
 Finance Asia Award (2004)- India's best Equity House
3. INDIABULLs
Brief Introduction
India Bulls Power Limited develops and intends to operate and maintain power projects
in India. The company was established in 2007 to capitalize on emerging opportunities in

Indian Power sector. The company has five thermal power projects under development
which will have a combined installed capacity of 6615 MW. The company intends to sell
the power generated from these projects under a combination of long term PPA‟s to
industrial and state owned consumers and on merchant basis.The company is also
developing 4 medium sized hydro power projects aggregating to 167 MW in Arunachal
Pradesh.The company is a part of the Adani Group which is a leading business group in
India.The company was incorporated in August 1996 and received a certificate of
commencement of business in September 1996. The company converted into a private
limited company in June 2002, but finally converted back into a public limited company
in April 2007 under the present name.
4. INDIA INFOLINE LTD.

India Infoline Limited is listed on both the leading stock exchanges in India, viz. the
Stock Exchange, Mumbai (BSE) and the National Stock Exchange (NSE) and is also a
member of both the exchanges. It is engaged in the businesses of Equities broking,
Wealth AdvisoryServices and Portfolio Management Services. It offers broking services
in the Cash and Derivatives segments of the NSE as well as the Cash segment of the
BSE. It is registered with NSDL as well as CDSL as a depository participant, providing a
one-stop solution for clients trading in the equities market. It has recently launched its
Investment banking and Institutional Broking business.
INDIA INFOLINE GROUP
The India Infoline group, comprising the holding company, India Infoline Limited and its
wholly-owned subsidiaries, straddle the entire financial services space with offerings
ranging from Equity research, Equities and derivatives trading, Commodities trading,
Portfolio Management Services, Mutual Funds, Life Insurance, Fixed deposits, GoI
bonds and other small savings instruments to loan products and Investment banking.
India Infoline also owns and manages the
websiteswww.indiainfoline.comandwww.5paisa.comThe company has a network of 976
business locations (branches and sub-brokers) spread across 365 cities and towns. It has
more than 800,000 customers.
INDIA INFOLINE LTD
India Infoline Limited is listed on both the leading stock exchanges in India, viz. the
Stock Exchange, Mumbai (BSE) and the National Stock Exchange (NSE) and is also a
member of both the exchanges. It is engaged in the businesses of Equities broking,
Wealth Advisory Services and Portfolio Management Services. It offers broking services
in the Cash and Derivatives segments of the NSE as well as the Cash segment of the
BSE. It is registered with NSDL as well as CDSL as a depository participant, providing a
one-stop solution for clients trading in the equities market. It has recently launched its
Investment banking and Institutional Broking business.A SEBI authorized Portfolio
Manager; it offers Portfolio Management Services to clients. These services are offered

to clients as different schemes, which are based on differing investment strategies made
to reflect the varied risk-return preferences of clients
PRODUCTS AND SERVICES
India Infoline is a one-stop financial services shop, most respected for quality of its advice,
personalized service and cutting-edge expertise. It provide a bouquet of products:
EQUITIES
India Infoline provided the prospect of researched investing to its clients, which was
hithertorestricted only to the institutions. Research for the retail investor did not exist prior to
India Infoline leveraged technology to bring the convenience of trading to the investor‟s location
of preference (residence or office) through computerized access. India Infoline made it possible
for clients to view transaction costs and ledger updates in real time. Over
the last five years, India Infoline sharpened its competitive edge through the following initiatives:

MULTI-CHANNEL DELIVERY MODEL
The Company is among the few financial intermediaries in India to offer a complement
of online and offline broking. The Company‟s network of branches also allows customers
to place orders on phone or visit our branches for trading.
INTEGRATED MIDDLE AND BACK OFFICE
The customer can trade on the BSE and NSE, in the cash as well as the derivatives
segment all through the available multiple options of Internet, phone or branch presence.
MULTIPLE-TRADING OPTIONS
The Company harnessed technology to offer services at among the lowest rates in the
business membership: The Company widened client reach in trading on the domestic and
international exchanges.
TECHNOLOGY
The Company provides a prudent mix of proprietary and outsourced technologies, which
facilitate business growth without a corresponding increase in costs.
SERVICE
Clients can access the customer service team through various media like toll-free
lines,emails and Internet- messenger chat for instant query resolution. The Company‟s
customer service executives proactively contact customers to inform them of key changes
and initiatives taken by the Company. Business World rated the Company‟s customer
service as „Best‟ in their survey of online trading sites carried out in December 2003.
KEY FEATURES
•Membership on the Bombay Stock Exchange Limited (BSE ) and the National Stock
Exchange (NSE)
•Registered with the NSDL and CDSL as a depository participant

•Broking services in cash and derivative segments, online as well as offline.
•Presence across 350 cities and towns with a network of over 850 business locations
Equity client base of over 500,000 clients
CONCLUSION
One should invest in blue chip companies as they grow and fall with
market. Even if market fall, shareholders can enjoy fixed rate of dividend
on such investment and if market rises, investors in blue chip companies
are on benefit side as these companies are first one to grow.
One should recommend its clients new shares only when he has full
fundamental knowledge of that company because if reputed firms s hare
fall no one will say anything but if prices of new shares (which were
recommended to client) fall every client blames broker.Also if any
mistake happens while entering deal of client, client should be the first
person who should be informed about it because it is his money which is
at stake and thus should not be hided from him because he will be more
angry in case he suffers further loss due to such mistake done and hidden
from him.

References
 http://www.studymode.com/essays/Research-On-Broking-Houses-
Of-India-590185.html
 http://www.slideshare.net/thtsmystyl/comparative-analysis-of-
broking-firms
 http://www.indiansharebroker.com/top-10-stock-broker-in-india/
 https://www.bonanzaonline.com/
 R.P. Rustagi, Investment Management,Sultan Chand & sons
 www.smcindiaonline.com
 Nseindia.com
 Bseindia.com
 Google.com
 http://nsetradinsecrets.blogspots.com/

Analysis Of Top Stock Brokers Of India

Recommended

Recommended

More Related Content

Similar to Analysis Of Top Stock Brokers Of India

Similar to Analysis Of Top Stock Brokers Of India (20)

More from Wendy Berg

More from Wendy Berg (20)

Recently uploaded

Recently uploaded (20)

Analysis Of Top Stock Brokers Of India