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It is a matter of great pleasure for me to be associated with Religare Securities Ltd. I,_______________ hereby would like...
This project report is the result of my 8 weeks of the training. Summer internship is an integralpart of the PGDM course, ...
Executive summary………………………………………………………………………8Research and methodology…………………………………………………………...….9Company profile…………………………...
Where people do invest money…………………………………………….……………58Stock trading(Equities)Basic concepts…………………………………………………...………………………....
derivatives…………………………………………………………..………..….……….81Options………………………………………………………………………..….………..82Mutual fund………………………………………………...
Suggestions…………………………………………………………………………….129Bibliography…………………………………………………………..….…………….130Appendix……………………………………………………….....
Religare securities ltd is in the process of increasing its presence in India. It is trying to identifypotential opportuni...
1. Objective of the study:       •   To get more practical knowledge about the equity.       •   To analyze the factors fo...
•   It follows penetration strategy, means it has main focus on increasing customer’            base.        •   It provid...
•   To judge the awareness and perception held on Religare Securities Ltd and key               competitors(ICICI direct, ...
•       Religare in recent past has been constantly innovating in terms of the product andservices, which it offers, and i...
•   Religare among capital market investment fraternity has carved a niche in per-formance       levels. We endeavor const...
Registered & Corporate Office                       Registrar & Share Transfer Agent19, Nehru Place, , , New Delhi, Delhi ...
RELIGARE ENTERPRISES LTD.Stock prices are delayed by 15 minutes on BSE, 5 minutes on NSE.Exchange                         ...
BOARD OF DIRECTOR:S.No    Name                           Designation1       Capt. G P S Bhalla             Alternate Direc...
•     Religare Enterprise Ltd is a Ranbaxy promoter group company•   6 Regional offices•   25 Zonal Offices•   Present in ...
Religare Enterprises - Allotment of Equity Shares under ESOS                30/06/2008 Religare Enterprises fixes Book Clo...
Corporate Structure                                 Religare Finvest                                                      ...
Business Structure                                        Client Interface       Retail Spectrum                 Instituti...
1- R-ACE (BASIC)2- R-ACE LITE (ADVANCED)3- R-ACE PRO (PROFESSIONAL)
•   Account activation charges Rs. 299/-   •   Minimum Margin Money Requirement – Rs. 5000   •   No software installation ...
•   Account activation charges Rs. 499/-   •   Minimum Margin Money Requirement – Rs. 5000   •   No software installation ...
•   Account activation charges Rs. 999/-•   Minimum Margin Money Requirement – Rs. 10000•   Traders terminal on your deskt...
R-ACE Pro (Professional) : For active traders. Launches directly from the traders desktop andoffers advanced charting capa...
Existing Banking Gateways…            • Citibank            • HDFC Bank            • ICICI Bank            • Axis Bank    ...
(1)Race lite + Trump plus And trump SuperAccount opening – Rs.499 and Rs.2500 as a advance Brokerage for a year.Intraday B...
Terms & Conditions:  •   Brokerage will be charged at the rates as mentioned in the applicable brokerage table, during    ...
(2)Race lite + Freedom(Rs 4500)Account opening – Rs.499 and Rs.4000 as a advance Brokerage for a year.Intraday- Rs.3, 00,0...
10 Lakh - 1 Cr                    0.02%          1 Lakh - 10 Lakh                 0.20%   1 Cr - 3 Cr                     ...
•     Charges on delayed payment @ 16% p. a..  •     Lifetime free AMC in Depository Account.  •     Interest on cash marg...
•       Brokerage will be charged at the rates as mentioned in the applicable brokerage table,           during the tenure...
A/c Opening: - Rs 499 + Rs5000 as margin which will reflect in your account and you can tradeupon that Money .Features:-• ...
Brokerage and other charges:sAny transaction entered attracts brokerage. Brokerage is debited in the account at the end of...
Above 3 Cr                   0.01%        Above 30 Lakh                  0.10%Other Charges:                              ...
IndiabullsHDFC mutual fundICICI direct.com5Paisa.comSMCReliance moneyIndia infolineSharekhanKotakstreet.com
The name is paired with the symbol of a four-leaf clover , a rare mutation of the common three-leaf clover. Traditionally,...
The fourth and final leaf of the clover represents Good Fortune. Signifying that rare      ability to meld opportunity and...
1.     In case of Power of Attorney a minimum of Rs. 50 of stamp duty is required to beattached in the form of stamp paper...
•      His existing trading account would be suspended (Client has to clear all his outstanding.In case he has credit in h...
•   Branch will check the proper filled closure request form received from clients.
•   In case of RACE & LAS demat a/c closing form need to be collected compulsorily    along with DIS booklet the pending c...
o If there is any stock lying in Broker beneficiary a/c; on clearance of financial           debit branch will request for...
o In case of stock lying in demat a/c, will request client to transfer the stocks to           desired a/c.       o In cas...
•   Trade Rewards is a unique offering from Religare that gives you dual benefit of a hassle      free investment experien...
The reward points accumulated by customers can be redeemed using the ‘Redemption’ option inthe Trade Reward section.They c...
Redemption Partners
Strength  •   Religare is one of the fastest growing share trading company.  •   It has a great brand name of Ranbaxy Grou...
•   The employees of the company are quiet enthusiastic about the betterment of the       company.   •   The company gives...
•   The number of people of Varanasi who have knowledge about share trading is quiet less       so if they can be taught a...
•   Apart from Religare securities limited, other broking houses have permanent office in    Varanasi so people may be mor...
Where do People Invest Money?                      •   Savings in banks account                      •   Fixed Deposits   ...
What is a share?         •   Having a share of a company means you own a part (SHARE) of the companyShares as IPO’s       ...
Stock Exchange Working……..    Buyer of Share                    Seller of Share        Broker                            B...
•   There are 23 National and Regional stock exchanges in India•   2 are National Level Stock Exchanges : National Stock E...
BSE - Bombay Stock exchange is one of the oldest stock exchanges in Asia with over 6,000stocks listedNSE - National Stock ...
•      Raise resources for companies and business ventures through public issues.•      Transfer of resources from those h...
Commodities market is particularly significant to our country as India is essentially a commoditybased economy. The variou...
Market TimingsMCX (Multi Commodity Exchange): 10:00 a.m. – 11:55pm (Mon-Fri)Saturday (10:00-14:00)NCDEX (National Commodit...
Sensex:It is an index that represents the direction of the companies that are traded on the Bombay StockExchange, BSE. It ...
It is the Sensexs counterpart on the National Stock Exchange(NSE).The only difference between the two indices (the Sensex ...
What is Rolling/Normal Settlement?Under rolling settlement all open positions at the end of the day mandatorily result in ...
For example: A trade executed on Monday is mandatorily settled by Wednesday (Consideringtwo working days from the trade da...
Order book: The order book shows the complete list of orders placed for a particular day. Oncethe order gets executed they...
Futures calculator: The futures Calculator helps to calculate the Fair Value of a particularFuture Contract given the spot...
Limit: A limit order is an order to buy or sell a security at a specific price. A buy limit order canonly be executed at t...
Trading System: The trading system features and user navigation for Market are describedbelow.Quantity :Order quantity sho...
Delivery TradesThis intimates the system to take delivery for the order placed. Incase of buy order, the systemwill block ...
1. Manage Account Trading (R-ALLY)   •   Offline   •   Trade over phone at branches   •   Online Trading to be allowed onl...
No call center support                  Call center support provided for trading,                                        b...
•   Dematerialization is a process in which physical share certificates are converted into      electronic shares  •   For...
Demat is an account similar to a Bank account in which shares are held in electronic form.Demat account is maintained by d...
Equity investments are securities which represent ownership in businesses. This ownership ispurchased in the form of share...
Equity vs. Other Asset ClassesEmpirical study suggests that Equity markets have outperformed all other asset classes      ...
•     The term "Derivative" indicates that it has no independent value.   •     Its value is entirely "derived" from the v...
•    An option gives the holder of the option the right to do the something.    •    Option holder has the right but not t...
•   An investor buys one European call option on Infosys at the strike price of Rs. 3500 at a       premium of Rs. 50. If ...
•    An investor buys one European Put option on Reliance at the strike price of Rs. 300/-, at        a premium of Rs. 25/...
•   A MF is a pool of money put together by Investors – called as unit holders – who share a    common goal.•   The money ...
Advantages of MF   •   Professionally managed portfolio   •   Diversified portfolio   •   Low cost of investment (economie...
•   At Religare one can invest Mutual Funds online.•   One can do online purchase and redemption in all the Schemes .•   O...
•   Normally to invest in an IPO, you would have to fill up a Form, write the Cheque, submit    the Form•   Through Religa...
•   Insurance is defined as “ A contract between two parties whereby one party called insurer    undertakes to pay the oth...
TradingThe trading on stock exchanges in India used to take place through open outcrywithout use of information technology...
Outstanding OrdersThe purpose of Outstanding Orders (OO) is to enable the user to view theoutstanding orders for a securit...
displays information of only those orders in which some activity has taken place. Itdoes not display those orders on which...
Equity Broking                               Key Facts                             Rising Equity Broking Turnover*        ...
Online Investment                                Key Facts                                                  Rising Number ...
Personal Credit             Personal Loans - Key Facts                       Personal Loans - Scheme Wise Size**          ...
Personal Financial Services                        Key Facts                       Rising MF Collections for both Debt & E...
Investment Banking               Key Facts•   Investment Banking Division covers three    key areas      – Merchant Bankin...
International Equity                          International Equity Portfolio Performance                                  ...
Portfolio Management Services               Key Facts                                         Scheme-Wise AUM•    PMS prov...
Priority Client Group                Key Facts                                         Revenue Distribution               ...
ICICI DIRECT.COM                                  RELIGAREONLINE.COM                                                  ACCO...
Initial Margin: NilBrokerage: All brokerage is inclusive of stampduty and exclusive of other taxes.Slab wise brokerage ran...
SHAREKHAN            RELIGAREONLINE.COM                               Account Opening Rs :- 299 withAccount Opening Rs:- 1...
* Refundable against brokerga in month +1         * will start shortly.                                                  0...
•Account Access Charges Monthly Rs 500, adjustable qtrly against brokerage of Rs 9000/- for qtr No access charges for gold...
( Negotiable based on volume )Problems Of SharekhanSharekhan interface is quite complicatedSharekhan is good except custom...
High amount of margin money required to put in dmat account
5PAISA .COM                         RELIGAREONLINE.COM                                                  Account Opening Rs...
securitiesAccount Opening: Rs 500•Demat 1st Yr: Rs 250•Initial Margin: Rs 2500(Compulsory)•Min Margin Retainable: Rs 1000 ...
•Initial Margin: Rs 5000(Compulsory)•Min Margin Retainable: Rs 1000•Brokerage:       Trading 0.10% each side + ST       De...
•DowntimeRecent past 5 paisa Trader Terminal (T.T) is experiencing high frequency      downtime between3 – 3:30p.m due to ...
KOTAKSTREET.COM                            RELIGAREONLINE.COM                                                  Account Ope...
•       Demat: Rs 22.5 p.m•       Initial Margin: Rs 5000(Compulsory)•       Min Margin Retainable: Rs 1000•       Brokera...
•   Restricted Access to Terminal like product   •   KEAT Desktop restricted distribution on payment of Rs 500, Non refund...
INDIABULLS                              RELIGAREONLINE.COMAccount Opening Rs:- 250/- and Rs.200 for       Account Opening ...
•Brokerage: NegotiablePower IndiaBulls•Account Opening: Rs 750•Demat: Rs 200 if POA is signed, No AMC for this DP•Initial ...
Paid Research ServicesAccess to a research even for an IB trading account holder is charged a min of Rs 500 a month.Margin...
•   No requirement of broker for trading activities.•   Order is placed online, so no way a wrong order is placed.•   Orde...
•   Trade on the NSE, BSE and NSE F&O, IPOs, MF and Commodities.   •   Extra trading exposure on stock holdings.   •   Tra...
Even while you are waiting to make your next trade or online investment,Interest on cash                     your unutiliz...
•   Since it’s a brand, yet it faces number of difficulties to capture the customers of    INDIABULLS, RELIANCE and ICICI....
•   They did not provide full satisfaction about the queries.       •   Proper data is not available on the web-site.•   T...
•   The company should pay more attention in satisfying the clients, and retaining them for a    longer period.•   The com...
•   From Google          •   From journals (like-business-today and money-outlook)          •   www.nseindia.comList of Ab...
ABC     Additional Base CapitalBMC     Base Minimum CapitalBSE     Bombay Stock ExchangeCDSL    Central Depositories Servi...
NSE                  National Stock ExchangeNSCCL                National Securities Clearing Corporation LimitedNSDL     ...
No upper limits,                         expenses determined by Upper limits for expenses chargeable toExpenses           ...
allotted units by the insurance company and a net asset value (NAV) is declared for the same ona daily basis.Similarly ULI...
Mutual fund investors have the option of either making lump sum investments or investing usingthe systematic investment pl...
Similarly funds also charge their investors entry and exit loads (in most cases, either isapplicable). Entry loads are cha...
The Systematic Investment Plan (SIP) is a simple and time honored investment strategy foraccumulation of wealth in a disci...
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Religare financial p-197 fit hait tabhi to hit hai

  1. 1. It is a matter of great pleasure for me to be associated with Religare Securities Ltd. I,_______________ hereby would like to thank the team of Religare Securities Ltd, Noida Branch,for their cooperation during my project work.I would like to thank Mr. Abhay Sawhney (Sales Manager) for giving me this opportunity. Iam also thankful to Mr. Manish Ajmani (Team Leader) and Mr. Ankur Kapoor ( Corporatetrainer) for providing overall guidance.Finally, I am thankful to _________________and other faculty members for the continuoussupport during the course of project.
  2. 2. This project report is the result of my 8 weeks of the training. Summer internship is an integralpart of the PGDM course, which the student has to undergo and it aims at providing a first handexperience of the company to the student.This practical experience helps the students to view the real business closely and correlate thetheoretical concepts better. I am really fortunate for getting an opportunity to have this learningexperience with Religare Securities LtdThe project assigned to me was “ EQUITY AND FINANCIAL COMPARISION OFRELIGARE SECURITIES LTD. FROM OTHER DIPOSITORY PARTICIPANTS.”I found that practical application of various concepts is more interesting than theoretical learning.
  3. 3. Executive summary………………………………………………………………………8Research and methodology…………………………………………………………...….9Company profile……………………………………………………………………….....11Corporate structure……………………………………………………………………….21Business structure,………………………………………………………………………..22Investment product…………………………………………………………..…….……..23Products of religare……………………………..................................................…..……..24Plans of religare……………………………………………………………………..……32Competitors of religare………………………………………………….……….……….42Meaning of symbol of religare………………………………………………….….….…43Process of opening an account……………………………………….…………...……...45Process of closing trading account………………………………..……………….…..…48Process of closing D-MAT account……………………………………...……...….……50Trade reward…………………………………………………………………………….51Swot analysis……………………………………………………….……………..……..54
  4. 4. Where people do invest money…………………………………………….……………58Stock trading(Equities)Basic concepts…………………………………………………...……………………….59Stock exchange……………………………………………………..…………………….60Function of stock market………………………………………..………………….…….63Commodity market……………………………………………………….….……….…..64Indices (Sensex)……………………………………………………………………..……66Nifty……………………………………………………………………….…………...…67Transaction cycle……………………………………………………...……………….….68Trading terminologies………………………………………………………….…….……70Trade types………………………………………………………………………..……….74Proposed offering of religare…………………………………….…………………..……..75What is D-MAT…………………………………………………………………..………..77Types of account……………………………………………………..…………..…….…..78
  5. 5. derivatives…………………………………………………………..………..….……….81Options………………………………………………………………………..….………..82Mutual fund…………………………………………………….……………..….……….85IPO’s…………………………………………………………….…………….…..……….88Insurance………………………………………………………………..……..……..…….89Trading in equity……………………………………………………….…………………90Comparison of religare with…………………………………………….………….......101ICICI.direct.com……..102Sharekhan…………….1045Paisa.com……………109Kotakstreet.com………114Indiabulls……………..118Analysis of comparison………………………………………………………………..123Limitations…………………………………………………………………………..….128
  6. 6. Suggestions…………………………………………………………………………….129Bibliography…………………………………………………………..….…………….130Appendix………………………………………………………...………………..……131Annexures……………………………………………………………………..…….…160Questionnaire and interpretation…………170Case Study……………………………………………………………………………..188Synopsis of the report………………………………………………………………….195
  7. 7. Religare securities ltd is in the process of increasing its presence in India. It is trying to identifypotential opportunities in the major cities of India.Being with Religare securities ltd as a summer trainee for 8 weeks has given me a key learningin the area of share market. I learnt about the D-MAT A/C of the different companies. I learnthow to capture a customer base with Religare.The sample size was 5 and finally tried to suggest a set of recommendation for increasing theawareness about Religare securities ltd, which would ultimately helps in increasing the customerbase.The study was conducted in Noida branch at sec-18.
  8. 8. 1. Objective of the study: • To get more practical knowledge about the equity. • To analyze the factors for investment in the market. • Comparison between the some securities to choose which is lacking in which part. • To find out the current brand image of Religare Securities Ltd in the mind of the respondents by way of comparison from other depository participants.2. Hypothesis: Assuming that Religare Securities Ltd has good brand image in the market on the basis of following parameters;
  9. 9. • It follows penetration strategy, means it has main focus on increasing customer’ base. • It provides a valuable products to its customers.3. Research and Sample design: There are many depository participants in the market but I researched only 5 companies like ICICI direct, Sharekhan, Indiabulls,5paisa.com and Kotakstreet.com.4. Scope of the study: • To understand the key parameters that influence the choice of the depository participants.
  10. 10. • To judge the awareness and perception held on Religare Securities Ltd and key competitors(ICICI direct, HDFC bank, Indiabulls,Sharekhan and India-infoline) • To analysis the customers’ evaluation of the current depository participants.Religare a company promoted, controlled and managed by the promoters of Ranbaxy wasfounded with the vision of providing integrated financial care driven by relationship of trust. Torealize its vision, the company provides both, fund-based and non-fund based financial servicesto its clients. These services include Broking (Stocks and Commodities), Depository ParticipantServices, and Advisory on Mutual Fund Investments. The clients of the company greatly benefitby its strong research capability, which encompasses fundamentals as well as technicals.Religare provides integrated financial solutions to its corporate, retail and wealth man-agementclients through Religare Securities Limited, Religare Finvest Limited, Religare CommoditiesLimited and Religare Insurance Broking Limited. Today, we provide various financial serviceswhich include Investment Banking, Corporate Finance, Portfolio Management Services, Equity& Commodity Broking, Insurance and Mutual Funds. Plus, there’s a lot more to come your way.
  11. 11. • Religare in recent past has been constantly innovating in terms of the product andservices, which it offers, and in this respect it has started a premium NRI, FIs, HNIs, andCorporate Servicing group. This group specifically caters to the growing investment needs ofthese premium client categories by taking all their portfolio investment decisions depending upontheir risk / return parameter. • Religare has a very credible team in its Research & Analysis division, which not only caters to the needs of our Institutional clients but also gives valuable input to Investment Dealers / Investors. • Religare is also giving in house depository services to its clients and it is amongst the leading Depository service providers in the country managing more than Rs. 6000 crores worth of shares under its electronic custody.
  12. 12. • Religare among capital market investment fraternity has carved a niche in per-formance levels. We endeavor constantly to our motto of providing customized services to our clients.Industry : Finance - General BSE Code : 532915 NSE Code : RELIGAREBusiness Group: Religare Face Value : Rs. 10.00 ISIN No : INE621H01010Chairman / : Mr. Malvinder Mohan Singh Market Lot : 1 Market Cap : 2979.935 (Rs.Cr.)
  13. 13. Registered & Corporate Office Registrar & Share Transfer Agent19, Nehru Place, , , New Delhi, Delhi - 110019 Karvy Computershare Private LtdTel: 30815100/66552200, , , Plot No. 17-24, Vittal Rao Nagar, Madhapur,Fax: 30815288, Hyderabad - 500081, Andhra Pradesh.Email: investorservices@religare.in Tel: 23420818, 23420824Website: www.religare.inKey Officials Name DesignationMalvinder Mohan Singh Chairman / Chair PersonSunil Godhwani Managing Director & CEORavi Batra Company Secretary and Compliance OfficerOther DetailsBusiness Group Ranbaxy GroupIndustry Finance - GeneralBSE Code 532915NSE Code RELIGAREEQListings BSE , NSEISIN No. INE621H01010
  14. 14. RELIGARE ENTERPRISES LTD.Stock prices are delayed by 15 minutes on BSE, 5 minutes on NSE.Exchange BSE NSELast Traded Price 389.00 389.50Last Traded Date 7/28/2008 7/28/2008Last Traded Time 3:48:00 PM 3:50:21 PMChange (Rs.) -2.60 -2.50% Change -0.66% -0.64%Days Open 393.95 386.00Previous Close 391.60 392.00Days High 393.95 394.00Days Low 387.95 386.00Total Traded Volume (Rs. In Crores) 2.35 26.98Bid Price 387.00 389.50Bid Quantity 10 256Offer Price 389.00 0.00Offer Quantity 235 0Total Traded Quantity 2,468 6,114Number Of Trades 226 39852 Week High / LowsExchange High High Date Low Low DateBSE 730.00 1/3/2008 323.75 11/21/2007NSE 729.00 1/2/2008 312.70 3/26/2008
  15. 15. BOARD OF DIRECTOR:S.No Name Designation1 Capt. G P S Bhalla Alternate Director2 Mr. R K Shetty Alternate Director3 Mr. Malvinder Mohan Singh Chairman / Chair Person4 Mr. J W Balani Independent Director5 Mr. Padam Bahl Independent Director6 Ms. Sunita Naidoo Independent Director7 Mr. Deepak Ramchand Sabnani Independent Director8 Mr. Sunil Godhwani Managing Director & CEO9 Mr. Shivinder Mohan Singh Non Executive Director10 Mr. Harpal Singh Non Executive DirectorKey ExecutivesS.No Name Designation1 Mr.Sunil Godhwani Managing Director & CEO2 Mr.Ravi Batra Company Secretary and Compliance Officer
  16. 16. • Religare Enterprise Ltd is a Ranbaxy promoter group company• 6 Regional offices• 25 Zonal Offices• Present in 1000 location all over India• Present in 350 Cities & Towns• Total group employees 5,500 plus• Present in Retail, Wealth and Institutional Spectrum• Among the largest Retail brokerage branch network, present beyond Tier-I and Tier-II cities in India• Overseas presence established in London, with aggressive plans of straddling other parts of the globe in this financial year
  17. 17. Religare Enterprises - Allotment of Equity Shares under ESOS 30/06/2008 Religare Enterprises fixes Book Closure for Dividend & AGM 28/06/2008 Religare Enterprises - Results Press Release 27/06/2008 Religare Enterprises Board recommends dividend 26/06/2008 Religare Enterprises - Press Release 24/06/2008 Religare Enterprises clarifies on news item 24/06/2008 Religare Enterprises - Clarification on News Item 23/06/2008 sReligare Enterprises - Clarification on News Item 18/06/2008 Religare Enterprises - Allotment of Equity Shares under ESOS 02/06/2008Announcement:AGM/EGMAnnouncement Purpose Date FromDate ToDate Remarks27/06/2008 AGM 20/09/2008 16/09/2008 20/09/2008 11% Dividend
  18. 18. Corporate Structure Religare Finvest Religare Wealth Ltd Religare Management Securities Ltd Services Ltd Religare Religare CapitalCommodities Markets Ltd Ltd Religare Enterprises Ltd Religare Finance Religare Ltd Insurance Broking Ltd Religare Venture Religare Realty Capital Pvt Ltd Ltd
  19. 19. Business Structure Client Interface Retail Spectrum Institutional Spectrum Wealth SpectrumTo cater to a large number of retail To Forge & build strong To provide customized wealth clients by offering all products relationships with Corporate advisory services to High Netunder one roof through the Branch clients and Institutions worth (HNI) Individuals Network and Online mode Institutional Broking Wealth Advisory Services Equity and Commodity Trading Portfolio Management Personal Finance Services Investment Banking Services Mutual Funds Merchant Banking International Advisory Fund Insurance Transaction Advisory Management Service (AFMS) Savings Products Corporate Finance Priority Equity Client Services Personal Credit Arts Initiative Personal Loans Loans against Shares Online Investment
  20. 20. 1- R-ACE (BASIC)2- R-ACE LITE (ADVANCED)3- R-ACE PRO (PROFESSIONAL)
  21. 21. • Account activation charges Rs. 299/- • Minimum Margin Money Requirement – Rs. 5000 • No software installation required, easily accessible on browser • NSE cash segment, NSE F&O and BSE on single platform • Trade online and over phone • Access your ledger balances and account information over internet and phone • Online transfer of funds through internet payment gatewayR-ACE Basic: A Browser based trading platform that is easy to navigate with advanced stocktrading features. Customers can get quotes, trade, manage their accounts all from a singleplatform.
  22. 22. • Account activation charges Rs. 499/- • Minimum Margin Money Requirement – Rs. 5000 • No software installation required, easily accessible on browser • NSE cash segment, NSE F&O and BSE on single platform • Real-time streaming quotes • Hot key functions for faster trading • Trade online and over phone • Access your ledger balances and account information over internet and phone • Online transfer of funds through internet payment gatewayR-ACE Lite (Advanced) : An Applet based trading platform, providing access to live streamingquotes, multiple market watch, message window and trading window, all in one screen, to helpcustomers track individual stocks and make timely trades when investing online.
  23. 23. • Account activation charges Rs. 999/-• Minimum Margin Money Requirement – Rs. 10000• Traders terminal on your desktop• NSE cash segment, NSE F&O and BSE on single platform• Real-time streaming quotes• Technical charting (Intraday and EOD)• Multiple watch list• Advanced hot-key functions for faster trading• Derivative chains• Futures & Options calculator• Access your ledger balances and account information over internet and phone.• Online transfer of funds through internet payment gateway• Trade online and over phone
  24. 24. R-ACE Pro (Professional) : For active traders. Launches directly from the traders desktop andoffers advanced charting capabilities, technical analysis allowing them to execute a quick &better trading decisions.
  25. 25. Existing Banking Gateways… • Citibank • HDFC Bank • ICICI Bank • Axis Bank • IndusInd BankReligare is tie-up above 5 banks , it means only with these bank , client can do online trading.
  26. 26. (1)Race lite + Trump plus And trump SuperAccount opening – Rs.499 and Rs.2500 as a advance Brokerage for a year.Intraday Brokerage- 0.025%, Delivery-0.25%Trump Account Particulars Trump Plus Trump SuperCost of Subscription Rs. 2,500 Rs. 15,000Validity Period 12 Months 12 MonthsBrokerage on Delivery Trades 0.25% 0.15%Brokerage on Intraday Trades 0.025% 0.015%Brokerage on F&O Trades 0.025% 0.015%
  27. 27. Terms & Conditions: • Brokerage will be charged at the rates as mentioned in the applicable brokerage table, during the tenure of scheme. • During the tenure of scheme brokerage charged shall be reversed to a maximum of cost of subscription only. Brokerage over and above it within the tenure of plan will have to be paid by the client at the same rate as quoted above • Taxes, duties and other charges shall be charged apart from above specified brokerage as applicable from time to time. • Minimum brokerage per scrip would be 1p • This plan would expire, at the expiry of the applicable validity period of account; and thereafter it shall be renewed on the same terms and conditions.
  28. 28. (2)Race lite + Freedom(Rs 4500)Account opening – Rs.499 and Rs.4000 as a advance Brokerage for a year.Intraday- Rs.3, 00,000 Free Daily after this 0.03%Delivery-Rs.40, 000 Free Daily after this 0.30% Free Volumes AllowedDaily Free Intraday & Derivative Volumes Rs. 3,00,000Daily Free Delivery Volumes Rs. 40,000 Calculation of Free Volumes NSE NSE NSE BSE BSESegment Total cash Futures T2T Cash T2TFree Intraday/Derivative Volumes 100,000 100,000 N.A. 100,000 N.A. 300,000Free Delivery Volumes 10,000 N.A. 10,000 10,000 10,000 40,000 Brokerage (on daily volumes)# Intraday / Derivative DeliveryVolume (in Rs.) Brokerage Rate Volume (in Rs.) Brokerage RateUpto 1 Lakh 0% Upto 10,000 0%1 Lakh - 10 lakh 0.03% 10,000 - 1 Lakh 0.30%
  29. 29. 10 Lakh - 1 Cr 0.02% 1 Lakh - 10 Lakh 0.20% 1 Cr - 3 Cr 0.015% 10 Lakh - 30 Lakh 0.15% Above 3 Cr 0.01% Above 30 Lakh 0.10%** Non Refundable# Brokerage will be calculated on exchange wise and segment wise basis. Brokerage on trades above freevolumes will be charged at the flat rate of the slab in which the client falls on any particular day. Forexample: If intraday volume in NSE segment is Rs. 25,00,000/-, total brokerage would be Rs. 480 {First1 Lakh would be free and rest would be charged @0.02% as per the volume slab; i.e(25,00,000 -1,00,000)*0.02%}Features of Freedom Account: • minimum brokerage requirement per contract note. • No minimum brokerage requirement per trade. • Minimum brokerage per scrip is 1p (for extra trades above free volumes).
  30. 30. • Charges on delayed payment @ 16% p. a.. • Lifetime free AMC in Depository Account. • Interest on cash margin lying with us @ 3.5% p. a. • Other statutory charges, taxes and duties to be charged extra as applicable.Disclaimer: Brokerage and interest rates are subject to change without notice. (3) Classic Plus (Rs 1175/-) A/C Opening: - Rs 499+ Rs 675 as brokerage for a period of six months. Brokerage :- Intraday – 0.05% Delivery – 0.50% *Brokerage will be deducted from these 675. Terms & Conditions:
  31. 31. • Brokerage will be charged at the rates as mentioned in the applicable brokerage table, during the tenure of scheme. • During the tenure of scheme brokerage charged shall be reversed to a maximum of cost of subscription only • Brokerage over and above it within the tenure of plan will have to be paid by the client at the same rate as quoted above. • Taxes, duties and other charges shall be charged apart from above specified brokerage as applicable from time to time. • Minimum brokerage per scrip would be 1p • This plan would expire, at the expiry of the applicable validity period of account; and thereafter it shall be renewed on the same terms and conditions.(4)Classic lite (Rs.5499/-)
  32. 32. A/c Opening: - Rs 499 + Rs5000 as margin which will reflect in your account and you can tradeupon that Money .Features:-• Lifetime free Depository Account.• Interest on margin money 3% p.a.• Online fund transfer facility with five banks I.e ICICI bank, HDFC bank, Axis bank, Citi bank& Indusind bank.• Online & Offline trading facility.• Research Reports available on our Website.• Online IPO’s applying facility.• *Margin trading facility upto 20 times on intraday• Free zero balance saving a/c in icici bank for online fund transfer Facility at the same time.
  33. 33. Brokerage and other charges:sAny transaction entered attracts brokerage. Brokerage is debited in the account at the end of theday.RACE Classic: Monthly Turnover Monthly Turnover (1 Monthly Turnover (More (Less than 1 cr.) cr. to 5 cr.) than 5 cr.) Intraday 0.05% 0.04% 0.03% Delivery 0.50% 0.40% 0.30% Derivates 0.05% 0.04% 0.03%RACE Freedom: Brokerage (on daily volumes)# Intraday / Derivative Delivery Volume (in Rs.) Brokerage Rate Volume (in Rs.) Brokerage Rate Upto 1 Lakh Nil Upto 10,000 Nil 1 Lakh - 10 lakh 0.03% 10,000 - 1 Lakh 0.30% 10 Lakh - 1 Cr 0.02% 1 Lakh - 10 Lakh 0.20% 1 Cr - 3 Cr 0.015% 10 Lakh - 30 Lakh 0.15%
  34. 34. Above 3 Cr 0.01% Above 30 Lakh 0.10%Other Charges: NSE CHARGED F & O BSE CASHCHARGES CASH in ON in % % % BROKERAGService Tax 12.24 12.24 12.24 EOther Charges (Stamp Charges+ Turnover 0.0055 0.0057 TURNOVER 0.0041Charges) ( Intra day ) (Jobbing) (Jobbing)STT (Intra day) (Applicable on Selling side 0.025 0.017 0.025only)Other charges (Stamp+ Turnover TURNOVER 0.0135 0.0137Charges) (Delivery)STT (Delivery) TURNOVER 0.125 0.125
  35. 35. IndiabullsHDFC mutual fundICICI direct.com5Paisa.comSMCReliance moneyIndia infolineSharekhanKotakstreet.com
  36. 36. The name is paired with the symbol of a four-leaf clover , a rare mutation of the common three-leaf clover. Traditionally, it is considered good fortune to find a four leaf clover as there is onlyone four-leaf clover for every 10,000 three-leaf clovers found.Each leaf of the four-leaf cloverhas a special meaning in the sphere of Religare. The first leaf of the clover represents Hope. The aspirations to succeed. The dream of becoming. Of new possibilities. It is the beginning of every step and the foundations on which a person reaches for the stars. The second leaf of the clover represents Trust. The ability to place ones own faith in another. To have a relationship as partners in a team. To accomplish a given goal with the balance that brings satisfaction to all not in the binding but in the bond that is built. The third leaf of the clover represents Care. The secret ingredient that is the cement in every relationship. The truth of feeling that underlines sincerity and the triumph of diligence in every aspect. From it springs true warmth of service and the ability to adapt to evolving environments with consideration to all.
  37. 37. The fourth and final leaf of the clover represents Good Fortune. Signifying that rare ability to meld opportunity and planning with circumstance to generate those often looked for remunerative moments of success. Hope. Trust. Care. Good fortune. All elements perfectly combine in the emblematic and rare, four-leaf clover to visually symbolize the values that bind together and form the core of the Religare vision.Following procedure is to be followed for RACE account opening:
  38. 38. 1. In case of Power of Attorney a minimum of Rs. 50 of stamp duty is required to beattached in the form of stamp paper, except in cases of some states. Furthermore the stamp papershould be purchased in the state where the client has executed the document2. The Agreement need not be notarized.3. The forms once punched should be sent in the pre-addressed envelopes for this purposeto Fortis Financial Securities Ltd ,255, 1st Floor Okhla Industrial Estate ,Okhla Phase -3 , NewDelhi- 204. In case a client wishes to transfer his existing R-ALLY account to R-ACE then pleasefollow the procedure mentioned hereunder:• Fill up new R-ACE form (The client has to pay initial account opening charges andmargin by way of stock/cash)
  39. 39. • His existing trading account would be suspended (Client has to clear all his outstanding.In case he has credit in his ledger balance, same would be returned to the client.)• A new depository account would be opened that would be mapped to new R-ACEaccount• A new trading account would be opened in R-ACE client code format• His existing Depository account (if any) would be deactivated/closed after transferringshares, so that his depository account balances are NIL. He would also be required to clear all hisoutstanding.
  40. 40. • Branch will check the proper filled closure request form received from clients.
  41. 41. • In case of RACE & LAS demat a/c closing form need to be collected compulsorily along with DIS booklet the pending charges will be debited to his trading a/c by HO. Additionally Bank a/c closing is required to close LAS a/c.• In case of corporate a/c board resolution is required along with the closure request.• Will check the margin and outstanding positions open for the a/c. If there is any margin shortage / outstanding sales or pending auctions & settlements will keep the form pending until clearance of same.• Will check that the ledger balance mentioned in the form tallies with the ledger balance in LD. o In case of debit in the a/c will ask client to clear the same immediately for further processing. o In case the balance mentioned in the form doesn’t match with the balance in BackOffice, branch will issue and explain the statement of a/c to the client and will ask the corrected closing letter.• Will check if there are any stocks lying in pool a/c.
  42. 42. o If there is any stock lying in Broker beneficiary a/c; on clearance of financial debit branch will request for stock transfer to the clients DP a/c as per client’s request. o If there is no stock lying / is transferred to clients depository account; on confirmation from branch manager a scan-copy of closure request should be sent to request@religare.in in HO for final closing.• On clients issues / problems reported Branch manager / Relationship manager should to put remarks.• Branch will check the holdings of requested demat a/c.
  43. 43. o In case of stock lying in demat a/c, will request client to transfer the stocks to desired a/c. o In case of no stocks or after clearing the stocks in requested a/c process the closure request further.• Branch will check the pending DP charges. o In case of pending DP charges will ask client to clear the same immediately o In case client has already paid will process the request.* For Corporate & partnership firm a/c’s Board Resolution is required.
  44. 44. • Trade Rewards is a unique offering from Religare that gives you dual benefit of a hassle free investment experience on the net as well as an opportunity to earn while you invest with us. • So earn Reward points each time you trade in equities and commodities or invest in your favorite IPOs Online with us through our highly sophisticated and customized trading platform R-ACE (Religare Advanced Client Engine) How to earn reward points? Investment Basis of Points Value (Rs.) type/Instrument calculation Earned Equity Trading 20.00 Brokerage 10 Commodities Trading 15.00 Brokerage 10 IPO Application 20,000.00 Application Value 10 IPO Allotment 10,000.00 Allotment Value 10How To Redeem Reward Point:
  45. 45. The reward points accumulated by customers can be redeemed using the ‘Redemption’ option inthe Trade Reward section.They can start redeeming their reward points against our list of attractive Gift Vouchers andoffers
  46. 46. Redemption Partners
  47. 47. Strength • Religare is one of the fastest growing share trading company. • It has a great brand name of Ranbaxy Group associated with it for promoting its product. • The Religare is the only online share trading company that gives interest on cash margin. • Religare offer trade reward also which is a unique feature of Religare. • Customer will get a zero balance saving account in ICICI bank after opening online demat account In Religare. • Religare provide lifetime free demat account, i.e. no annual maintenance charges. • Religare also provide 20 times exposure on intraday trading.
  48. 48. • The employees of the company are quiet enthusiastic about the betterment of the company. • The company gives utmost respect to customer service. • The company has a good relation with its channel partner.Weakness • The company does not have a permanent online office in Varanasi so many people might feel hesitation in investing in Religare. • At the time of account opening its margin money of Rs. 5000 is one of the factor which sometime discourages customers to go for it while its competitors does not require any margin money at the time of opening demat account.Opportunities
  49. 49. • The number of people of Varanasi who have knowledge about share trading is quiet less so if they can be taught about the benefits of investing Religare then the company can cover a big revenue. • People who have knowledge about share trading are not willing to invest due to the loss beard by them by investing in wrong shares at the wrong time, so if these people can be motivated then the company can earn big revenue. • Since most of the broking houses have been established in Varanasi (City area) so their most of the customers belongs to city only. The rural area is untouched area where a lot of potential is available for these kinds of broking houses. This area is called virgin area. So if Religare target these areas so the company can create a number of new customers and also earn big revenue.Threats
  50. 50. • Apart from Religare securities limited, other broking houses have permanent office in Varanasi so people may be more attracted in investing in other companys broking houses.• Religare has been launched before some times in Varanasi. The other broking houses have been established before Religare, so they have more customers than Religare. Also they have made the market concentrated so Religare may find difficulties in making new customers.
  51. 51. Where do People Invest Money? • Savings in banks account • Fixed Deposits • Postal Savings • Insurance • Real Estate • Gold • Stock Markets
  52. 52. What is a share? • Having a share of a company means you own a part (SHARE) of the companyShares as IPO’s • Initial Public Offering (IPO) is when an unlisted company makes either a fresh issue of securities or an offer for sale of its existing securities or both for the first time to the public. • The shares could be bought by fulfilling a simple formalities (online through religare website) • Post IPO the shares are listed on a Stock Exchange – a stock exchange is a place where the already issued shares of a company are bought and sold.
  53. 53. Stock Exchange Working…….. Buyer of Share Seller of Share Broker Broker Stock Exchange Money Share+
  54. 54. • There are 23 National and Regional stock exchanges in India• 2 are National Level Stock Exchanges : National Stock Exchange of India Ltd (NSE) & Bombay Stock Exchange (BSE) while rest 21 are Regional Stock Exchanges (RSE).• The Indices: An index is a benchmark that captures the movement of the share market. – S&P Nifty: NSE stock index comprising 50 scrips – Sensex: BSE stock index comprising 30 scrips Stock Exchanges in India NSE BSENational Stock Exchange Bombay Stock Exchange
  55. 55. BSE - Bombay Stock exchange is one of the oldest stock exchanges in Asia with over 6,000stocks listedNSE - National Stock Exchange is one of the leading stock exchanges in India. The NSE hasbeen set up by leading institutions to provide a modern, fully automated screen – based tradingsystem with national reach. Market Timings:Equity / Cash MarketMarket Time will vary in case of Sun Outage informed by ExchangeNational Stock Exchange: 09:55 a.m. – 03:30 p.m. (Mon-Fri)03:40 p.m. – 04:00 p.m. (post close)Bombay Stock Exchange: 09:55 a.m. – 03:30 p.m.( Mon-Fri)03:40 p.m. – 04:00 p.m. (post close)
  56. 56. • Raise resources for companies and business ventures through public issues.• Transfer of resources from those having idle resources (investors) to others who have aneed for them (corporates).• Provide channels for reallocation of savings to investments and entrepreneurship.Securities in which one can invest:• Equity• Government Securities• Derivative products• Units of Mutual Funds
  57. 57. Commodities market is particularly significant to our country as India is essentially a commoditybased economy. The various commodities being traded on the exchanges include preciousmetals, crude oil, agro-commodities etc. Commodity Market - Exchange NCDEX MCX multi commodity exchange National Commodity & Derivative Exchange Limited NMCE National Multi - commodity Exchange of India
  58. 58. Market TimingsMCX (Multi Commodity Exchange): 10:00 a.m. – 11:55pm (Mon-Fri)Saturday (10:00-14:00)NCDEX (National Commodity and Derivative Exchange): -10:00 a.m. – 11:55 pm(mon-Fri)Saturday (10:00-14:00)NMCE (National Multi Commodity Exchange of India): -10:00 a.m. – 05:00pm(Mon-Fri)Saturday (10:00-14:00)
  59. 59. Sensex:It is an index that represents the direction of the companies that are traded on the Bombay StockExchange, BSE. It captures the increase or decrease in prices of stocks of companies that itcomprises.Currently, all the 30 stocks that make up the Sensex have reached a value of 15,355 points.These companies represent the myriad sectors of the Indian economy. A few of these companiesand the sector they represent are: ACC (cement), Bajaj Auto, Tata Motors, Maruti (automobile),Infosys, Wipro, TCS (information technology), ONGC, Reliance (oil & gas), ITC, HLL (fastmoving consumer goods) etc.Each company has a weight assigned to it. Companies like Reliance, Infosys, and HLL havehigher weightages compared to others like HDFC, Wipro, or a BHEL.The increase or decrease in Sensex, is the effect of a corresponding increase or decrease in thestock market price of these 30 companies. Sensex is the benchmark that represents Indian equitymarkets globally.
  60. 60. It is the Sensexs counterpart on the National Stock Exchange(NSE).The only difference between the two indices (the Sensex and Nifty) is that the Nifty comprises of50 companies and hence is more broad-based than the Sensex. The Nifty 50 or the S&P CNXNifty as the index is officially called has all the 30 Sensex stocks.The NSE Nifty functions exactly the way as the BSE Sensex does.
  61. 61. What is Rolling/Normal Settlement?Under rolling settlement all open positions at the end of the day mandatorily result in payment/delivery ‘n’ days later. Currently trades in rolling settlement are settled on T+2 basis where T isthe trade day.
  62. 62. For example: A trade executed on Monday is mandatorily settled by Wednesday (Consideringtwo working days from the trade day). The funds and securities pay-in and pay-out are carriedout on T+2 days.A tabular representation of the settlement cycle for rolling set-tlement is given below:
  63. 63. Order book: The order book shows the complete list of orders placed for a particular day. Oncethe order gets executed they go into the trade book.Open position: The position which is not yet closed. E.g. when you buy 1 share and have not yetsold it then your open position is 1 and when the share gets sold than the position stands nil.Exposure: Exposure is x times the cash deposited. Suppose the exposure is 6 times, this meansthat if the cash deposited is Rs 1000, the total exposure would be Rs. 6000.Gross Allocated Exposure: It is the virtual amount spent. When order is placed, the quantitymultiplied by price of each share will be deducted from the gross exposure available.Net used exposure: It is the real amount spent. When the order gets traded, the quantitymultiplied by price at which the order gets traded will be deducted from the net exposureavailable.Trade log- Trade Log is the detail of transactions done by a client on a particular day
  64. 64. Futures calculator: The futures Calculator helps to calculate the Fair Value of a particularFuture Contract given the spot price, expiry date, interest rate and dividend yield.Obligation: The stock for which the delivery has not been received yet, are reflected in theObligation report. Once the delivery comes i.e. on t+2 days, the same will be reflected in theAsset report.Assets reports: Asset Report shows the total holding in ones account as on date.Options calc: The options calculator calculates the option price or volatility for a particularoptions contract given the Option type i.e. Call or Put, Spot Price, Strike Price, Time until expiry,Interest Rate and volatility or Option Price depending on what needs to be calculated.LTP- Last Traded PriceTTQ - Total Traded QuantityTTV - Total Traded Volume.
  65. 65. Limit: A limit order is an order to buy or sell a security at a specific price. A buy limit order canonly be executed at the limit price or lower, and a sell limit order can only be executed at thelimit price or higher.Market: Market orders are orders for which price is specified as MKT at the time the order isentered. For such orders, the system determines the price.Stop-Loss: This facility allows the user to release an order into the system, after the market priceof the security reaches or crosses a threshold price called trigger price.Example: If for stop loss buy order, the trigger is Rs.93.00, the limit price is Rs.95.00 and themarket (last traded) price is Rs.90.00, then this order is released into the system once the marketprice reaches or exceeds Rs.93.00.This order is added to the regular lot book with time oftriggering as the time stamp, as a limit order of Rs.95.00.All stop loss orders are kept in aseparate book (stop loss book) in the system until they are triggered.Trigger Price: Price at which an order gets triggered from the stop loss book. Limit Price: Price of the orders after triggering from stop loss book
  66. 66. Trading System: The trading system features and user navigation for Market are describedbelow.Quantity :Order quantity should be in multiples of Market Lot.Price :Members can enter either market orders or limit price orders. Order price for limit priceorders should be in multiples of tick size.Order Cancellation/Modification : Order cancellation and modification is allowed for ordersentered. Order cancellation functionality can be performed only for orders which have not beenfully or partially traded (for the untraded part of partially traded orders only) and only duringmarket hours.Net Position :The Net Position screen displays consolidated statistics for all markets as well asseparately for each market.
  67. 67. Delivery TradesThis intimates the system to take delivery for the order placed. Incase of buy order, the systemwill block the entire amount for the order placed. Incase of delivery sell order, one should checkthe demat stock availability, once the order is accepted in the exchange the quantity put for saleis blocked. Once the sell order is executed the entire amount generated from the sell trade will beavailable for trading for further tradingIntraday or Square-off tradesIntraday price movements are particularly important to short-term traders looking to make manytrades over the course of a single trading session. The term intraday is occasionally used todescribe securities that trade on the markets during regular business hours.ObligationTrades (BTST)In case of Obligation trades, the customer may buy shares of a company to-day and sell of theshares bought the very next day before the actual settle-mentLets say, if you buy 100 INFOSYS today at 3500 and tomorrow if the rate goes upto 3800, canyou sell the same
  68. 68. 1. Manage Account Trading (R-ALLY) • Offline • Trade over phone at branches • Online Trading to be allowed only on browser through iNet.net2. Net Account Trading (R-ACE) • Online • Square-off rights only dealer at branch level • Trade over phone at call centre • Online trading to be allowed through various modes: browser and application
  69. 69. No call center support Call center support provided for trading, back-office and IT supportFull branch level support Minimum branch level supportHigh level of manual intervention for Fully automated processesflexible processesBasic software Feature-rich software
  70. 70. • Dematerialization is a process in which physical share certificates are converted into electronic shares • For the ease of settlement and many millions of transactions – the shares are traded in electronic format • The physical share certificate needs to be converted to Dematerialized format for enabling trading • Depository : The organization responsible to maintain investors securities in the electronic form is called the depository • CSDL & NSDL are the 2 depository providing their services in India • These Depositories are linked with Depository Participant (e.g. Religare Securities Ltd) who are involved in servicing the customer for all Demat needs.Demat Account
  71. 71. Demat is an account similar to a Bank account in which shares are held in electronic form.Demat account is maintained by depositories (NSDL and CSDL and access is provided by DPse.g. Religare)Savings Bank AccountAn account with the bank where you keep your money and withdraw as and when needed (In thiscase for trading purpose)Trading AccountAn account with the DP through which all the transactions are routedEQUITY:
  72. 72. Equity investments are securities which represent ownership in businesses. This ownership ispurchased in the form of shares. There are two ways in which you can invest in equities:- • Primary market (by applying in IPOs) • Secondary market (by buying shares listed on stock exchanges) Advantages:- • It is most liquid asset class • It has a potential of high returns to the investors • Investors can earn dividend income, as well as capital gains when the share prices shoot up • Equity shares gives ownership and control of the company.
  73. 73. Equity vs. Other Asset ClassesEmpirical study suggests that Equity markets have outperformed all other asset classes Source: www.moneypore.com
  74. 74. • The term "Derivative" indicates that it has no independent value. • Its value is entirely "derived" from the value of the underlying asset. • The underlying asset can be securities, commodities, bullion, currency, live stock or anything else.Types: • Futures Contracts • Options • A futures contract is an agreement between two parties to buy or sell securities at a certain time in the future at a certain price. • Futures contracts are standardized exchange-traded contracts.
  75. 75. • An option gives the holder of the option the right to do the something. • Option holder has the right but not the obligation to exercise. • The purchase of an option requires an up-front payment. Options Terminology• Index Options : India VIX based on the Nifty 50 Index Option prices.• Stock Options• Call Option : Option to buy• Put Option : Option to sell• Option buyer : One who buys the option. He has the right to exercise the option but no obligation.• Option seller : One who gives/writes the option. He has an obligation to perform, in case option buyer desires to exercise his option.
  76. 76. • An investor buys one European call option on Infosys at the strike price of Rs. 3500 at a premium of Rs. 50. If the market price of Infosys on the day of expiry is Rs. 3600 The investors Break even point is Rs. 3550 (Strike Price + premium paid) i.e., investorwill earn profits if the market crosses above Rs. 3550. • However, If at the time of expiry stock price falls below Rs. 3500 say suppose it touches Rs. 3000, the buyer of the call option will choose not to exercise his option. In this case the investor loses the premium (Rs 100), paid which shall be the profitearned by the seller of the call option.
  77. 77. • An investor buys one European Put option on Reliance at the strike price of Rs. 300/-, at a premium of Rs. 25/-. If the market price of Reliance, on the day of expiry is less than Rs. 300, the option can be exercised. The investors Break even point is Rs. 275 (Strike Price - premium paid) i.e.,investor will earn profits if the market falls below 275. • Suppose stock price is Rs. 260, the buyer of the Put option immediately buys Reliance share in the market @ Rs. 260/- & exercises his option selling the Reliance share at Rs 300 to the option writer thus making a net profit of Rs. 15 {(Strike price - Spot Price) - Premium paid}. • In another scenario, if at the time of expiry, market price of Reliance is Rs 320/ - , the buyer of the Put option will choose not to exercise his option to sell as he can sell in the market at a higher rate. In this case the investor loses the premium paid (i.e Rs 25/-), which shall be the profit earned by the seller of the Put option.
  78. 78. • A MF is a pool of money put together by Investors – called as unit holders – who share a common goal.• The money thus collected is invested by professional fund managers in different types of securities depending upon the objectives of the scheme.• The Mutual Fund is managed by a Asset management Company (AMC)• NAV : Its the funds assets minus its liabilities divided by the number of outstanding shares.• Sales Load : Is a charge collected by a scheme when it sells the units. Also called, ‘Front- end’ load. Schemes that do not charge a load are called ‘No Load’ schemes (Entry and exit Load)• NFO.
  79. 79. Advantages of MF • Professionally managed portfolio • Diversified portfolio • Low cost of investment (economies of scale) • It is possible to invest in small amounts. • Simplicity • Choice of schemes • Various tax benefits are granted to investors of Mutual Funds e.g. ELSS scheme.
  80. 80. • At Religare one can invest Mutual Funds online.• One can do online purchase and redemption in all the Schemes .• One can check Latest (previous day) NAV’s and Invest online in NFOs of all the Mutual Fund Schemes.• One has the option of investing through the Systematic Investment Plan (SIP), withdrawing through SWP and switching schemes (within the same MF).• There is No BROKERAGE charged and only an entry and exit load is charged (by the AMC) whenever one invests, redeems and switches.
  81. 81. • Normally to invest in an IPO, you would have to fill up a Form, write the Cheque, submit the Form• Through Religare just – LOGIN – SELECT IPO – ENTER AMOUNT – Subscribe & its Done – No Filling of Forms• No writing Cheques• No standing in QUEUE
  82. 82. • Insurance is defined as “ A contract between two parties whereby one party called insurer undertakes to pay the other party called insured a fixed amount of money on the happening of a certain event, in exchange for a fixed sum called premium.”• There are different kinds of Insurance Products available such as Health Insurance , Motor Insurance, Home Insurance, Overseas Travel Insurance, Rishtey – Parent’s Health Insurance, Student Travel Insurance etc.• For Example if a person buys a Life Insurance Policy by paying a premium to the Insurance company , the family members of insured person receive a fixed compensation in case of any unfortunate event like death.• Advantages : Protection, Tax saving, Liquidity etc .
  83. 83. TradingThe trading on stock exchanges in India used to take place through open outcrywithout use of information technology for immediate matching or recording oftrades. This was time consuming and inefficient. This imposed limits on tradingvolumes and efficiency. In order to provide efficiency, liquidity and transparency,NSE introduced a nation-wide on-line fully-automated screen based trading system(SBTS) where a member can punch into the computer quantities of securities andthe prices at which he likes to transact and the transaction is executed as soon as itfinds a matching sale or buy order from a counter party. SBTS electronicallymatches orders on a strict price/time priority and hence cuts down on time, costand risk of error, as well as on fraud resulting in improved operational efficiency.It allows faster incorporation of price sensitive information into prevailing prices,. It enables market participants, irrespective of their geographical locations, to trade with oneanother simultaneously, improving the depth and liquidity of the market. It provides fullanonymity by accepting orders, big or small, from members without revealing theiridentity, thus providing equal access to everybody
  84. 84. Outstanding OrdersThe purpose of Outstanding Orders (OO) is to enable the user to view theoutstanding orders for a security. An outstanding order is an order that has beenentered by the user, but which has not yet been completely traded or cancelled. Theuser is permitted to see his own orders.Special Features of Outstanding Orders:• The user can modify orders from the outstanding orders screen.• The user can cancel orders from the outstanding orders screen.• The user can view status of a particular order from the outstanding orders screen.Activity LogThe Activity Log (AL) shows all the activities that have been performed on anyorder belonging to that user. These activities include ordermodification/cancellation, partial/full trade, trade modification/cancellation. It
  85. 85. displays information of only those orders in which some activity has taken place. Itdoes not display those orders on which no activity has taken place.The following activities are displayed:B For buy orders, this indicates a match.S For sell orders, this indicates a match.OC This indicates an order was cancelled.OM This indicates an order was modified.TC For both buy and sell orders this indicates that a trade involving this order wascancelled.TM For both buy and sell orders this indicates that a trade involving this order wasmodified.Order StatusThe purpose of the Order Status (OS) is to look into the status of one of dealer’sown specific orders. The screen provides the current status of orders and otherorder details. The order status screen is not dynamically updated. In case the orderis traded, the trade details are also displayed. In case of multiple trades the display is scrolled.
  86. 86. Equity Broking Key Facts Rising Equity Broking Turnover* • Over 190,000 Retail Equity clients, 60000 with growth rates over 200% 50000 • Current market share is at 4.5% - 5.5% 40000 • Target increased presence in this 30000 segment both in India and abroad 20000 • Doubling manpower by March 2008 10000 0 2003-04 2004-05 2005-06 2006-07 Rising Client Base Key Facts 160,000 140,000 • Presence of 300 Branches all India 120,000 • Internationally, established office in 100,000 London, with the target of opening 80,000 7 offices abroad by March 2008 60,000 • Targeting growth of 25% in 40,000 brokerage by March 2008 20,000 0 2004-05 2005-06 2006-07* Figures in $ mn
  87. 87. Online Investment Key Facts Rising Number of Online Clients • Official Launch of E-broking in August Mar-07 2006 Feb-07 • Aggressive growth has been observed Jan-07 in the client base for online trading Dec-06 • Targeting 300,000 online clients by the Nov-06 end of this financial year Oct-06 Sep-06 Aug-06 Rising Turnover** 0 5000 10000 15000 20000 25000 30000 35000 100 90 80 Key Facts 70 60 50 • Acquired market share of 8% in internet 40 trading volumes * 30 • Recently launched a revamped, unique 20 360 degrees customer centric online 10 trading portal 0 • To increase team strength to 3000 Aug- Sep- Oct- Nov- Dec- Jan-07 Feb- M ar- 06 06 06 06 06 07 07 employees purely for internet trading* Of total internet trading volume of NSE As per the last published figures** Figures in $ mn
  88. 88. Personal Credit Personal Loans - Key Facts Personal Loans - Scheme Wise Size** 4.0 • Official Launch of Personal Loans in 3.5 August 2006 3.0 • Total number clients till date are nearly 2.5 1500 2.0 • Targeting book size $110 mn by March 1.5 2008 1.0 0.5 0.0 business+ Celebration + LAS - Current and Projected Book Size** Loans Against Shares - Key Facts 350 300 • Current Book Size $144 mn, projected 250 to increase to $ 284 mn by March 200 2008 150 • Presence of 300 Branches all India, to double by March 2008 100 • Total number clients till date are nearly 50 15,000 0 2006-07 2007-08**Projected Figures**Figures in $ mn
  89. 89. Personal Financial Services Key Facts Rising MF Collections for both Debt & Equity* • PFS caters to the financial needs of 300 individuals by advising them on 250 various financial plans 200 • Financial planning for retail investment 150 is not widespread in India 100 50 • PFS was started to target the rapidly 0 expanding middle net worth individuals Apr- May- Jun- Jul-06 Aug- Sep- Oct- Nov- Dec- Jan- Feb- Mar- 06 06 06 06 06 06 06 06 07 07 07 (MNI’s) in India • Rapid rollout of PFS Products offering, such as mutual funds, life and general Product –Wise Clients insurance, fixed income, small savings instruments, capital bonds and equity 30000 IPOs 25000 20000 • Expert group of Religare’s PFS 15000 advisors provide high quality 10000 customized solutions 5000 0 • Dedicated Team of more than 200 Insurance IPO MFs advisors, to be expanded to 800 by March 2008* Figures in $ mn
  90. 90. Investment Banking Key Facts• Investment Banking Division covers three key areas – Merchant Banking – Transactions Advisory Services – Corporate Finance• License for Merchant Banking was received on 19th December, 2006• Handling a wide plethora of over 40 transactions in India• The investment banking branch of Religare since its inception six months ago, has raised over $185 mn with an anticipated growth of over 100%• Of $185 mn, $142 mn was raised through debt
  91. 91. International Equity International Equity Portfolio Performance % ReturnDow Jones Industrial Average 14.34%NASDAQ Composite Index 18.32%Religare International Equity Portfolio 41.09%Currency Gains -1.57%Total Return 39.52% Key Facts • Religare International ‘Advisory Fund Management Service’ provides advisory services to clients who wish to profit from trading in International (currently limited to US) financial instruments • Instruments available are US equities, Mutual funds and Debt, with funds being managed by the Fund Management Team based out of Delhi. • Religare International Equity portfolio has shown much higher returns than DJIA and Nasdaq Composite Index • International Equity Partner - Wall street*E
  92. 92. Portfolio Management Services Key Facts Scheme-Wise AUM• PMS provides customized portfolio services with a high level of client interaction• Rigorous valuation disciplines have Caterpillar Elephant been put in place to minimize risk Panther• Extremely experienced and well Tortoise networked team of individuals• Product offerings entail four key schemes – Panther, Tortoise, Elephant and Caterpillar• Current Assets under Advice are $100 mn Key Facts Scheme-Wise Client Distribution • Panther: Aggressive across sectors, High Risk- High Return Profile • Tortoise: Gradual Growth, with a cautious approach; Medium Risk and Caterpillar Medium Return Elephant • Elephant: Steady return over a long Panther time period; Low Risk Low Return Tortoise • Caterpillar: Capital appreciation over a long period of time; High Risk- High Return Profile
  93. 93. Priority Client Group Key Facts Revenue Distribution South North• Priority Client Group (PCG) caters to high net worth individuals who actively invest in equity East markets• Clients have exclusive access to equity research reports fundamental & technical covering a wide spectrum of companies across sectors West• Dedicated team of 20 research analysts, 10 dealers and 10 relationship managers• State-of-the-art infrastructure and superior PCG Product Offerings execution systems to ensure faster execution • Direct Equity of trades •Fundamental research reports •Technical research reports• Nearly 700 clients • NRI Direct Equity’s and Derivative’s• Turnover for PCG is over $3.4 bn • Structured Products (Derivatives)• Currently operational in 5 locations with the •Index Arbitrage existing retail setup •Volatility Trading • Directional & Non Directional Trading •Structure Products .
  94. 94. ICICI DIRECT.COM RELIGAREONLINE.COM ACCOUNT OPENING Rs :- 299 withACCOUNT OPENING Rs:- 1200* commodity** with commodity and RS:- 750 withoutcommodity * will start shortly. 0.05% BROKERAGE SCHEME-onBROKERAGE :- .75% Intradayeffective yield :- .90% 0.50% ON DeliveryANNUAL AMC IS RS:- 580/- PER ANNUAL NO AMCNO DEALER SUPPORT DEALER SUPPORTPROVIDE CALL CENTRE NUMBER ONLY CALL CENTRE & DIRECT LINES ALSO4-20 TIME EXPOSURE 6-20 TIMES EXPOSURENO TRADE REWARDS POINTS TRADE REWARDS POINTSNO LIMIT AGAINST THE DEMAT LIMIT AGAINST THE DEMATHOLDING HOLDINGAccount Opening: Rs 750Schemes: For short periods Rs 750 is refundableagainst brokerage generated in a qtr. Theseschemes are introduced 3-4 times a year.Demat: NIL, 1st year charges included inAccount Opening Plus a facility to openadditional 4 DP’s without 1st yr AMC.
  95. 95. Initial Margin: NilBrokerage: All brokerage is inclusive of stampduty and exclusive of other taxes.Slab wise brokerage ranges from 0.75% to0.25% depending on volume.
  96. 96. SHAREKHAN RELIGAREONLINE.COM Account Opening Rs :- 299 withAccount Opening Rs:- 1000* commodity*
  97. 97. * Refundable against brokerga in month +1 * will start shortly. 0.05% BROKERAGE SCHEME-on0.10% BROKERAGE SCHEME-on Intraday Intraday0.50% ON Delivery 0.50% ON DeliveryANNUAL AMC IS RS:- 450/- PER ANNUAL NO AMC NO INTEREST ON THE AMOUNT INTEREST ON THE MARGIN AMOUNT3% per annual 3% per annual yield is high Exposure- 4 times Exposure- 6-20 times Account access charges-500 p.m. adjust againstbrokerage NO ACC .NO TRADE REWARDS POINTS TRADE REWARDS POINTS Classic account- Rs.750/- Classic account- Rs.1175/-NO LIVE STREAMING QUOTES LIVE STREAMING QUOTES•Account Opening : Rs 1000 ( Refundable against brokerage in Month + 1)•Demat 1st Yr : Incl in Account Opening•Initial Margin : NIL•Min Margin Retainable : NIL•Brokerage : Trading 0.10% each side + All Taxes Delivery 0.50% each side + All Taxes ( Negotiable based on volume )
  98. 98. •Account Access Charges Monthly Rs 500, adjustable qtrly against brokerage of Rs 9000/- for qtr No access charges for gold customers ( Above 1 lac brokerage p.a)Classic accountAccount opening : 750 (lifetime)Demat 1st year: free a/c openingIntial margin : NILMinimum margin :NILBrokerage : Trading 0.10% each side + All Taxes Delivery 0.50% each side + All Taxes
  99. 99. ( Negotiable based on volume )Problems Of SharekhanSharekhan interface is quite complicatedSharekhan is good except customer care.Sharekhan exposure is 4 times and Religare securities is the leaderhere with 20 times.Basic features are missing from company’s websities.No written confirmation of buying and selling of shares.Sharekhan still does not have full support for BSE trades andMay show your orders pendingand will not execute the orders.High brokerage , high AMC (annula maintence charges) and account opening charges.
  100. 100. High amount of margin money required to put in dmat account
  101. 101. 5PAISA .COM RELIGAREONLINE.COM Account Opening Rs :- 299 withAccount Opening Rs:- 500 commodity* * will start shortly. 0.05% BROKERAGE SCHEME-on0.10% BROKERAGE SCHEME-on Intraday Intraday0.50% ON Delivery 0.50% ON DeliveryInitial Margine- Rs.-2500/- NoInitial Margine is required.NO TRADE REWARDS POINTS TRADE REWARDS POINTS Classic account- Rs.500/- Classic account- Rs.1175/- Account access charges-800 p.m. adjust againstbrokerage and Yearly Acc is Rs. 8000/- NO ACC..ANNUAL AMC IS RS:- 250/- PER ANNUAL NO AMCMinimum Margine-Rs.1000/- either in cash or in No Minimum Margine is required.
  102. 102. securitiesAccount Opening: Rs 500•Demat 1st Yr: Rs 250•Initial Margin: Rs 2500(Compulsory)•Min Margin Retainable: Rs 1000 • Brokerage: Trading 0.10% each side + ST Delivery 0.50% each side + ST PRICING FOR HNI CLIENTSTrader Terminal•Account Opening: Rs 500•Demat 1st Yr: Rs 250
  103. 103. •Initial Margin: Rs 5000(Compulsory)•Min Margin Retainable: Rs 1000•Brokerage: Trading 0.10% each side + ST Delivery 0.50% each side + ST (Negotiable to 0.05% each side & 0.25%•Account Access Charges Monthly Rs 800, adjustable against Brokerage Yearly Rs 8000, adjustable against brokerage Problems Of 5 Paisa
  104. 104. •DowntimeRecent past 5 paisa Trader Terminal (T.T) is experiencing high frequency downtime between3 – 3:30p.m due to server load (as their T.T is feature heavy compared to Speedtrade charting)•Manual AccountingThe 5 paisa accounting system is manual, Online fund transfer through bank is not creditedinstantly. Limit is provided EOD for shares sold from DP, or call Similarly limit released forshares sold under BTST is manual Delay in receiving pay-out of clear funds from trading toBank Account•Min Account BalanceConcept of Min Rs1,000 is to be maintained in form of cash / securities to keep account active.This can be withdrawn only on closure of account
  105. 105. KOTAKSTREET.COM RELIGAREONLINE.COM Account Opening Rs :- 299 with Account Opening Rs:- 500 commodity* * will start shortly. Initial Margine- Rs.-5000/- NoInitial Margine is required. NO TRADE REWARDS POINTS TRADE REWARDS POINTS 0.05% BROKERAGE SCHEME-on 0.10% BROKERAGE SCHEME-on Intraday Intraday 0.50% ON Delivery 0.50% ON Delivery Minimum Margine-Rs.1000/- either in cash or in securities No Minimum Margine is required. ANNUAL AMC IS RS:- 22.50/- PER ANNUAL NO AMC• Account Opening: Rs 500
  106. 106. • Demat: Rs 22.5 p.m• Initial Margin: Rs 5000(Compulsory)• Min Margin Retainable: Rs 1000• Brokerage Slab wise: Higher the volume, lower the brokerage. Even older customers (on0.25% & 0.40%) have been moved to the slab wise structure. Problems of Kotakstreet • Rigid Account Opening Terms • No Flexibility of A/c opening charges (Rs 500) + Compulsory margin Rs 5000/- Account opening free with Rs 10,000 Margin OR Competitor Contract Note. • No Flexibility in Leverage – Dependent on Type of Account ( 4 to 6 times only) No flexibility in Brokerage, driven by slab structure. • No Customization of commercial Terms.
  107. 107. • Restricted Access to Terminal like product • KEAT Desktop restricted distribution on payment of Rs 500, Non refundableMany Other Charges: • Rs 22.5 p.m towards DP AMC charges • DP incoming charges extra, 0.02% • Rs 1,000 as retainable Margin to keep account active • Rs 25 per call after 20 calls for the month
  108. 108. INDIABULLS RELIGAREONLINE.COMAccount Opening Rs:- 250/- and Rs.200 for Account Opening Rs :- 299 withDmat commodity* * will start shortly.Classic account- Rs.950/- Classic account- Rs.1175/-ANNUAL AMC - NO NO AMC 0.05% BROKERAGE SCHEME-on0.10% BROKERAGE SCHEME-on Intraday Intraday0.50% ON Delivery 0.50% ON Delivery NO INTEREST ON THE AMOUNT INTEREST ON THE MARGIN AMOUNT3% per annual 3% per annual yield is highNO TRADE REWARDS POINTS TRADE REWARDS POINTS•Account Opening: Rs 250•Demat: Rs 200 if POA is signed, No AMC for this DP•Initial Margin: NIL
  109. 109. •Brokerage: NegotiablePower IndiaBulls•Account Opening: Rs 750•Demat: Rs 200 if POA is signed, No AMC for this DP•Initial Margin: NIL•Brokerage: NegotiableProblems Of IndiaBullsPOA for Clients DMATCharges are levied to move shares from IB pool Account to client DP account All shares held byclient trading with IB are moved to IB Pool Account and the same is shown as a reflection inclient DP account.
  110. 110. Paid Research ServicesAccess to a research even for an IB trading account holder is charged a min of Rs 500 a month.Margin funding hoaxThe interest on funding starts on leveraged delivery trades from T+1 day itself @21% p.a , on adaily basis.The role of Relationship Manager:Each RM is looked upon as a revenue generator and he gets a % on business generated fromclient. This can lead to over leveraged (Interest) & high frequency (Brokerage) trading, whichmay not be in the best interest of the client
  111. 111. • No requirement of broker for trading activities.• Order is placed online, so no way a wrong order is placed.• Order can’t be late, because without time lag order is placed.• All information regarding investment is always available in your own a/c.• Completely paperless, so contract notes or cheques are not required• Fully automated processes, so no dependency on any one.
  112. 112. • Trade on the NSE, BSE and NSE F&O, IPOs, MF and Commodities. • Extra trading exposure on stock holdings. • Trading support available without any extra charge.Some of our interesting features and benefits are as follows:Unique Features Benefits Trade Rewards is a unique offering from Religare that gives you dualTrade Rewards benefits of hassle free investment experience online and an opportunity to earn while you invest with us.Exposure up to 20 Allowing you the freedom to trade without hassles throughout the daytimes on your without having to worry about your cash margin. You can get exposuremargin* (on cash segment) as high as 20 times for intraday trades.
  113. 113. Even while you are waiting to make your next trade or online investment,Interest on cash your unutilized cash does not lie idle with us. You earn interest on yourmargin unutilized cash margin. • At the time of account opening its margin money of Rs. 5000 is one of the factor which sometime discourages customers to go for it while its competitors does not require any margin money at the time of opening demat account • Sometimes its terminal works with low frequency, so that customers have to face many problems specially in intraday .
  114. 114. • Since it’s a brand, yet it faces number of difficulties to capture the customers of INDIABULLS, RELIANCE and ICICI... • The information, estimates and opinions contained in this report are obtained from sources considered to be reliable. However, I am giving qualification for this report.
  115. 115. • They did not provide full satisfaction about the queries. • Proper data is not available on the web-site.• The employees should not damage the goodwill of the religare securities ltd only to get few profits.• There should be a proper coordination between the employees and use proper communication.
  116. 116. • The company should pay more attention in satisfying the clients, and retaining them for a longer period.• The company should pay more emphasis on its customer support services. A regular feedback should be taken by the clients regarding their problems.• The company should go for some more advertising and promotional activities to gain more share of the market. • www.religareonline.com • NSE Newsletters
  117. 117. • From Google • From journals (like-business-today and money-outlook) • www.nseindia.comList of Abbreviations
  118. 118. ABC Additional Base CapitalBMC Base Minimum CapitalBSE Bombay Stock ExchangeCDSL Central Depositories Services Ltd.CM Capital MarketCo. CompanyDCA Department of Company AffairsDEA Department of Economic AffairsDP Depository ParticipantDPG Dominant Promoter GroupDQ Disclosed QuantityFI Financial InstitutionFII Foreign Institutional InvestorsF&O Futures and OptionsIOC Immediate or CancelIPF Investor Protection FundLTP Last Trade PriceMBP Market By PriceMTM Mark To Market
  119. 119. NSE National Stock ExchangeNSCCL National Securities Clearing Corporation LimitedNSDL National Securities Depository Ltd.NCFM NSEs Certification in Financial MarketsSEBI Securities and Exchange Board of India ULIPs Mutual Funds Determined by the investor and can be Minimum investment amounts areInvestment amounts modified as well determined by the fund house
  120. 120. No upper limits, expenses determined by Upper limits for expenses chargeable toExpenses the insurance company investors have been set by the regulatorPortfolio disclosure Not mandatory* Quarterly disclosures are mandatoryModifying asset Generally permitted for Entry/exit loads have to be borne by theallocation free or at a nominal cost investor Section 80C benefits are available on all ULIP Section 80C benefits are available onlyTax benefits investments on investments in tax-saving fundsULIPs vs Mutual Funds: Whos better?Unit Linked Insurance Policies (ULIPs) as an investment avenue are closest to mutual funds interms of their structure and functioning. As is the case with mutual funds, investors in ULIPs are
  121. 121. allotted units by the insurance company and a net asset value (NAV) is declared for the same ona daily basis.Similarly ULIP investors have the option of investing across various schemes similar to the onesfound in the mutual funds domain, i.e. diversified equity funds, balanced funds and debt funds toname a few. Generally speaking, ULIPs can be termed as mutual fund schemes with an insurancecomponent.However it should not be construed that barring the insurance element there is nothingdifferentiating mutual funds from ULIPs.How ULIPs can make you RICH!1-Mode of investment/ investment amounts
  122. 122. Mutual fund investors have the option of either making lump sum investments or investing usingthe systematic investment plan (SIP) route which entails commitments over longer time horizons.The minimum investment amounts are laid out by the fund house.ULIP investors also have the choice of investing in a lump sum (single premium) or using theconventional route, i.e. making premium payments on an annual, half-yearly, quarterly ormonthly basis. In ULIPs, determining the premium paid is often the starting point for theinvestment activity.This is in stark contrast to conventional insurance plans where the sum assured is the startingpoint and premiums to be paid are determined thereafter.2. ExpensesIn mutual fund investments, expenses charged for various activities like fund management, salesand marketing, administration among others are subject to pre-determined upper limits asprescribed by the Securities and Exchange Board of India.For example equity-oriented funds can charge their investors a maximum of 2.5% per annum ona recurring basis for all their expenses; any expense above the prescribed limit is borne by thefund house and not the investors.
  123. 123. Similarly funds also charge their investors entry and exit loads (in most cases, either isapplicable). Entry loads are charged at the timing of making an investment while the exit load ischarged at the time of sale.. Tax benefitsULIP investments qualify for deductions under Section 80C of the Income Tax Act. This holdsgood, irrespective of the nature of the plan chosen by the investor. On the other hand in themutual funds domain, only investments in tax-saving funds (also referred to as equity-linkedsavings schemes) are eligible for Section 80C benefits.Maturity proceeds from ULIPs are tax free. In case of equity-oriented funds (for examplediversified equity funds, balanced funds), if the investments are held for a period over 12 months,the gains are tax free; conversely investments sold within a 12-month period attract short-termcapital gains tax @ 10%
  124. 124. The Systematic Investment Plan (SIP) is a simple and time honored investment strategy foraccumulation of wealth in a disciplined manner over long term period. The plan aims at abetter future for its investors as an SIP investor gets good rate of returns compared to a one timeinvestor.What is Systematic Investment Plan • A specific amount should be invested for a continuous period at regular intervals under this plan. • SIP is similar to a regular saving scheme like a recurring deposit. It is a method of investing a fixed sum regularly in a mutual fund. • SIP allows the investor to buy units on a given date every month. The investor decides the amount and also the mutual fund scheme. • While the investors investment remains the same, more number of units can be bought in a declining market and less number of units in a rising market.

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