A

PROJECT REPORT

ON

SUMMER TRAINING UNDERTAKEN AT

KOTAK SECURITIES LTD.

In partial fulfilment for the award of the degree of

Bachelors of Commerce (B.Com_H) Honours

Submitted by

Akshay Goyal

BCMH1CF11004

Batch of 2011-14

At

ITM UNIVERSITY, OPP. SITHOULI RAILWAY STATION,

JHANSI ROAD, GWALIOR, M.P.

December 2013

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DECLARATION

I, AKSHAY GOYAL student of ITM UNIVERSITY, Gwalior Batch in B.COM Honours, hereby declare that, this Project Report under the title ‘ONLINE EQUITY TRADING’ is the record of my original work under the guidance of Mr. Anand Chaturvedi, Branch MANAGER of a Kotak Securities Ltd. in Gwalior (M.P). This report has never been submitted anywhere else for award of any degree or diploma.

Signature of the Student:

Place: Gwalior

Date: 7th December 2013

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ACKNOWLEDGEMENT

It is a great opportunity & pleasure for me to express my profound gratitude to wards all the

individuals who directly or indirectly contributed towards completion of this report.

Working on this report was a great fun, excitement, challenges and a new exposure in the field

of Human Resource. I am greatly in debated to under whose guidance and concern I am able to

bring the report into its real shape.

I am thankful to (Mr. X) and all faculty members of Management Department in providing me

useful guidance for the completion of this report. I convey my gratitude to all those who are

directly or indirectly related in the completion of this project report.

Akshay Goyal

Roll No: BCMH1CF11004

Course: B.Com (Honours)

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PREFACE

Any kind of learning is incomplete till it is practically applied in the concerned field. Only then

does a person understand and get hold of even the minutes’ details of what he/she has learnt

in his stay at the institute doing his /her course. So, to practically apply what I had gained in the

past one year in the B.Com programme, I underwent two months summer training at Kotak

Securities, Gwalior.

It has been a wonderful learning experience, which has given me an insight into Management

of modern business which requires an appreciation of multidisciplinary concept and in-depth

knowledge of specific analytical tools, geared to the solution of real life problems. No doubt

every real situation is unique but a set of theoretical tools of knowledge, itself based on

empirical foundation, can help in developing the mechanism for handling such situation.

So the B.Com curriculum has been desired to provide to the future manager’s ample practical

exposure to the business world.

The summer training is essential for the fulfilment of B.Com curriculum; it provides an

opportunity to the student to understand the industry with special emphasis on the

development of skills in analyzing interpreting practical problems through applications of

management.

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The whole study has been divided into various parts:

The First Chapter includes the introduction about instruments of share market and

knowledge of basic share terminology

The Second chapter & Third chapter include industry profile and company profile.

The Third chapter has reported facts and information gathered by student in the

course of study of topic.

The Fourth chapter is the title of study and objective of study.

The Fifth chapter is about job descriptions and learning gathered from the training.

The Seventh chapter and rest of report include the Suggestions and

Recommendations for the further development and pointing out the weak points so

that changes can be made.

Lastly, there is Bibliography of the books, which was used by the researcher.

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INDEX

Chap.

NO.CONTENT PAGE

1 Introduction7

2 Industry Profile13

3 Company Profile16

4 Objective of the Study23

5Job / Work Description

24

6 Achievements & Learning25

7 Suggestions & Recommendations27

8 Difficulties faced29

9 Limitations 30

10 Conclusions 31

11 Bibliography 32

CHAPTER 1

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INTRODUCTION

THEORETICAL CONCEPTS

INVESTMENT AND INDIVIDUAL

Investing is never easy process. However, a sound understanding of some

Basic concepts make the process of investment decision-making much easier and

the experience much more enjoyable. The following steps can help the individual

get started on the path to becoming a successful investor.

1. IDENTIFICAION OF FINANCIAL NEEDS AND GOALS

The first step is to get a clear understanding of the financial needs and goals. The

question at this stage may be asked that when the money is needed. This needs

listing down all the financial goals an when they will materialize, and how much

money will be needed for the same. The answer will help to arrive at the time

frame for the investment- short term, medium term or long term.

2.UNDERSTANDING THE TOLERENCE TO RISK

Before making an investment decision, it is important to ascertain the feelings

about the risk. Will the investor be comfortable with fluctuations in the value of the

investment? Or would the investor prefer to settle for lower returns without ups

and down?

3.ESTIMATING THE REQUIRED RATE OF REURN

The required rate of return depends on the financial goals and the time the investor

has to achieve them.

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HUMAN BEING AND THE INVESTMENT

The human being is the most sophisticated type of species whatever there is

found on this planet. Although the other beings that are in existence on the

earth are also aware towards their ahead coming times but at the same time

the human is getting more aware towards its future . This awareness is being

shown in every area wherever the human has its reach. Money may be

considered as the most burning field that has got the maximum of the

attention of the human towards the fulfillment of the future needs.

Here the future money income factor is being considered as the prime object-ive

factor on which we are now going to pay most of our attention and time. For the

purpose of future income the present investments are compulsory that would yield

the funds in time coming ahead.

Now on the next pages there are being presented some important concepts re-lated

to the investment as par the topic that a comparative study between the investments

in mutual funds through systematic investment plans and invest-ment in the stocks

and shares.

WHY PEOPLE GO FOR THE INVESTMENTS?

This question that why the people go for the investment plays the role of the pivot

that would lead us towards the theoretical concepts that would build the foundation

for the overall research report.

The very clear purpose that we go for the investments in our life is that we want to

secure our future from all the mishappenings and at the same time want to learn

something from what we had invested in the past. This may be further stated in the

form of following two points.

1. For the purpose of gaining the current profits from their investments and

focusing on the short-term investments and gains coming out of them.

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2. For the purpose of earning long term profits and investing the gains again for the

long terms that to secure the future?

Above two points state clearly the motive behind the investments in various

investment instruments like stocks and shares, mutual funds and banks etc. This

leads towards the purpose that why we are willing to invest although we have

sufficient amounts of money with us.

VARIOUS VERY FREQUENTLY USED INVESTMENT

OPTIONS NOW -A-DAYS

Since a lot of investment options are available today for the investors but some

very popular and frequent used one are following.

1. Shares and stocks

2. Mutual Funds

3. Portfolio Management Services

Here some information related with the above ones is being provided for the

conceptual framework.

SHARES AND STOCKS

In case of a company, owners are called shareholders (or stockholders). Therefore

owner’s equity is referred to as shareholders’ equity or shareholders’ funds.

The company raises its funds by issuing the shares in the open market and these

shares are the very popular instruments of investment. Very often the shares are

fluctuated due to the company operations going high or low and these fluctuations

decide the result of the investments of individuals.

Primarily the shares are of following two types:

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PREFERENCE SHARES AND EQUITY SHARES

Preference shares are those ones that are redeemed preferably first at the time of

liquidation of the company.

After the redemption of the preference shares the equity shares are paid up or

redeemed.

MUTUAL FUNDS

A mutual fund pools the money of the people with similar investment goals. The

money in turn is invested in various securities depending on the objective of the

mutual fund scheme, and the profits (or loss) are shared among investors in

proportion to their investments.

Mutual fund schemes are usually open end (perpetually open for investments and

redemptions) or closed end (with a fixed term). A mutual fund scheme issues units

that are normally priced at Rs.10 during the initial offer. Thus the number of units

you own as against the total number of units issued by the mutual fund scheme

determines your share in the profit or loss of a scheme.

In the case of open end schemes, units can be purchased or sold back to the fund at

a Net Asset Value (NAV) based price on all business days.

The NAV is the actual value of a unit of the fund on a given day. Thus, when

investor invests in the mutual fund scheme, he normally gets an account state-ment

mentioning the number of the units that have been allotted to investor and the

NAV based price at which the units have been allotted .The account statement is

similar to the bank passbook. When investor buys or redeems units in part or full,

he gets an updated account statement, reflecting the transaction.

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PORTFOLIO MANAGEMENT SERVICES

Portfolio management services are now- a -days available for those investors who

have large amounts of funds for the investment purposes but they do not have

sufficient amount of time to plan and manage their funds. For this purport-se these

investor have an option to go with the portfolio managers who invest their funds in

various investment schemes, take care of their investments and also provide

suggestion and recommendations to the investor about the future actions to be

taken so that their funds would increase in a planned fashion.

For the task of maintaining and taking care of the funds of the investor the

portfolio managers charge nominal fees that is going to be negligible in com-

parson to the amount of the investment .In this way the portfolio management

services are going to be more popular among large investors.

TYPES OF MUTUAL FUNDS

Mutual funds can be classified based on their objective as they are in trend

1. SECTOR EQUITY SCHEMES

These schemes invest in shares of the companies in a specific sector.

2. DIVERSIFIED WQUITY SCHEMES

These schemes invest in shares of companies across different sectors of economy.

3. HYBRID SCHEMES

These schemes invest in a mix of shares and fixed income instruments.

4. INCOME SCHEMES

These schemes invest in fixed income instruments such as bonds issued by

corporate and financial institutions, and Government securities.

5. MONEY MARKET SCHEMES

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These schemes invest in short term instruments such as certificate of deposits,

treasury bills and short-term bonds.

WHERE DO MUTUAL FUNDS INVEST?

Broadly mutual funds invest in three types of asset classes:

1. STOCKS

Stocks represent ownership or equity in a company popularly known as shares. In

other words this may be said that the shareholders are the owners of the co-mpany.

2. BONDS

These represent debt from companies, financial institutions or Government

agencies.

3. MONEY MARKET INSTRUMENTS

These include short-term debt instruments such as treasury bills, certificate of

deposits and inter-bank call money.

Thus above are the three investment classes on which the fund manager of every

mutual fund keeps the eyes at every time so that the fund which is be-ing managed

by him should provide fair returns to their investors. In this way the fund manager

provides the information relating the investments and their fair growth.

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CHAPTER 2

CORPORATE IDENTITY

THE SYMBOL OF THE INFINITE KA REFLECTS OUR

GLOBAL INDIAN PERSONALITY. THE KA IS UNIQUELY

INDIAN WHILE ITS CURVE FORMS THE INFINITY SIGN,

WHICH IS UNIVERSAL. ONE OF THE BASIC TENENTS OF

ECONOMICS IS THAT MAN’S NEEDS ARE UNLIMITED. THE

INFINITE KA SYMBOLISES THAT WE HAVE INFINITE

NUMBER OF WAYS TO MEET THOSE NEEDS

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HISTORY OF THE COMPANY

The Kotak Mahindra group was born in 1985 as Kotak capital management

financier’s ltd. Uday Kotak, Sindey A.A Pinto, the company. Industrialists Harish

Mahindra and Anand Mahindra Took a stake in 1886 and that’s when the company

changed its name to KOTAK MAHINDRA FINANCE LIMITED.

1986: Kotak Mahindra Finance Limited starts the activity of bill discounting.

1987: Enters the base and hire purchase market.

1990: Auto finance division was started.

1991: Investing banking was started.

1992: Enters funds syndication sector.

1995: Brokerage and distribution businesses incorporated into a separate company Kotak

Securities.

1996: The auto finance business was hived off into a separate company- Kotak Mahindra Primus

Limited. Kotak Limited, for financing ford vehicles.

1998: Enters the mutual fund market with launch of Kotak Mahindra Company

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2000: Kotak Mahindra ties up with old mutual for the life4 insurance business. Kotak Securities

launches Kotak securities system. Com‐ its online broking site.

2003: Kotak Mahindra finance Limited converts to bank.

2004: Launches India growth fund, a private equity fund.

2005: Kotak group realign joint venture e in ford credit; Buys Kotak Mahindra prime (formerly

known as Kotak Mahindra primus limited) and sells ford credit Kotak Mahindra. Launches a real

estate fund

2006: Bought the 25% stake held by Goldman Sachs in Kotak Mahindra Capital Company and

Kotak securities

Kotak securities limited are a subsidiary of Kotak Mahindra Bank Limited is one of largest

private brokerage and distribution house Set up in 1994 by Mr. Uday Kotak. Kotak securities

have 25% equity participation from Goldman Sachs.

Kotak securities have been the largest in IPO distribution and was ranked no.1 in the year 2003‐

2004 as book running lead managers in I PO’s by prime database. The core strengths are the

expertise in equity research and wide retail distribution network. It has an outstanding research

division involved in macro – economic studies, industry and company specific equity research

with analysts specializing in particular economic sectors and large cap stocks. Kotak securities

manage assets over rupees 1200 crs under portfolio management.

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CHAPTER 3

INTRODUCTION OF KOTAK SECURITIES LTD.

Originally established in 1994, Kotak Securities is a subsidiary of Kotak Mahindra

Bank, which services more than 7.4 lakh customers. The firm has a wide network

of more than 1400 branches, franchisees representative offices, and satellite offices

across 448 cities in India and offices in New York, London, Dubai, Mauritius and

Singapore.

We process more than 400000 trades a day which is much higher than some of the

renowned international brokers. The company is a corporate member of both The

Bombay Stock Exchange (BSE) and The National Stock Exchange of India (NSE).

Our operations include stock broking services for trading in stock markets through

branches & internet and distribution of various financial products including

investments in IPOs, Mutual Funds and Currency Derivatives. Currently, Kotak

Securities is one of the largest broking houses in India with substantial

geographical reach to Asia Pacific, Europe, Middle East and America.

Kotak Securities Limited has Rs. 1,202 crore of Assets Under Management

(AUM) as of 31st Dec, 2011.

Innovators:

We have been the pioneers in providing many products and services which have

now become industry standards for stock broking in India. Some of them include:

Research Expertise:

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We specialize in Fundamental and Technical analysis backed by a team of highly

trained and qualified individuals.

Our full-fledged research division is involved in Macro Economic studies,

Sectorial research and Company Specific Equity Research which publishes in-

depth stock market analysis. This is combined with a strong and well networked

sales force which helps deliver current and up to date market information and

news.

We are also a depository participant with National Securities Depository Limited

(NSDL) and Central Depository Services Limited (CDSL). By being a stock

broker and depositary participant, we provide dual benefit in our services wherein

the investors can avail our stock broking services for executing the transactions

and the depository services for settling them. 

Our Portfolio Management Service comes as an answer to those who would like to

grow exponentially on the crest of the stock market, with the backing of an expert.

Board of Directors of Kotak Securities Ltd:

Chairman: Mr. Uday Kotak.

Managing Director: Mr. Narayan S.A.

Directors: Mr. C. Jayaram

Mrs. Falguni Nayar.

Mr. Vikram Sud.

Executive Director & Chief operating Officer: Mr. D. Kannan

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KOTAK GROUP PRODUCTS AND SERVICES:

Bank

Life Insurance

Mutual Fund

Car Finance

Securities

Institutional Equities

Investment Banking

Kotak Mahindra International

Kotak Private Equity

Kotak Realty Fund

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AWARDS AND RECOGNITION OF KOTAK SECURITIES LTD.

Awards

Best Broker in India by Finance Asia for 2010 & 2009

UTI MF - CNBC TV18 Financial Advisor Awards - Best Performing Equity

Broker (National) for the year 2009

Best Brokerage Firm in India by Asia money 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

Euro money Award (2007 & 2006) - Best Provider of Portfolio Management:

Equities

Euro money Award (2005)-Best Equities House in India

Finance Asia Award (2005)-Best Broker in India

Finance Asia Award (2004) - India's best Equity House

We specialize in Fundamental and Technical analysis backed by a team of highly

trained and qualified individuals.

Our full-fledged research division is involved in Macro Economic studies,

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Sectorial research and Company Specific Equity Research which publishes in-

depth stock market analysis. This is combined with a strong and well networked

sales force which helps deliver current and up to date market information and

news.

We are also a depository participant with National Securities Depository Limited

(NSDL) and Central Depository Services Limited (CDSL). By being a stock

broker and depositary participant, we provide dual benefit in our services wherein

the investors can avail our stock broking services for executing the transactions

and the depository services for settling them. 

Our Portfolio Management Service comes as an answer to those who would like to

grow exponentially on the crest of the stock market, with the backing of an expert.

Main areas of business Kotak Securities are:

• Institutional broking business

• Private client group

• Client money management

• Retail distribution of financial products

• Depository services

• Online trading

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Institutional broking business:

This service primarily covers secondary market broking. It caters to the needs of

foreign and Indian institutional investors in Indian equities Kotak Securities

institutional business also incorporates a comprehensive research cell with sect oral

analysts who cover all the major areas of Indian economy.

Private client group:

Private client group is a special investment division for high net worth individuals.

Non-resident Indian investors, trusts corporate and banks the investments product

range at private client group is among the widest in the country and covers debt

and equity, mutual funds and specialized structured investment products.

Client money management:-

This division provides professional portfolio management services to high net

worth individuals and corporate. Efficient fund management is maintained at all

times as well as complete accountability and transparency. Its expertise in research

and stock broking gives it the right perspectives from which it provide its clients

with investments advisory services that benefit the clients.

Retail distribution of financial products:-

Kotak Securities has a comprehensive retail distribution network, comprising about

7000 agents, 13 branches and over 20 franchisees across India. This network is

used for the distribution and placements of a range of financial products that

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includes company fixed deposits, mutual funds initial public offerings, equity and

small saving schemes.

Depository services:-

Kotak Securities is a depository participant with national securities depository

limited for trading and settlement of dematerialized shares. Since it is also in the

broking business investors who use its depository services get dual benefit.

Online trading:-

Kotak Securities online broking service Kotaksecurities.com offers services for

retail investors who like to trade on net its unique product offering securities as

margins and its market watch facility with real time prices combined in an order

facility not offered by and other web site at present

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CHAPTER 4

TITLE OF THE STUDY

The title of the study undertaken by the researcher is “operation and services

offered by Kotak Securities Ltd. and the procedure involved in online equity

trading with more emphasis on customer preference.”

The title given to the researcher found to be very interesting and learning in nature.

Although researcher faced various problem seeking information from various

source due to the competition of various bank, but due to co-operation from

various friends, colleagues and specially the staff of Kotak Securities Ltd. she had

completed the report.

OBJECTIVE OF THE STUDY

To help the researcher in knowing out the various kinds of services provided by

Kotak group.

To study the different products of Kotak Securities Ltd.

To maintain the database regarding various.

To give an in depth knowledge about security, Derivatives; future and

option, capital market; primary and secondary, NSE and BSE.

To study how to determine various Pricing Strategies involved in online

trading.

To study the software KEAT used by the company for trading.

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CHAPTER 5

DETAILED JOB PROFILE

The job undertaken was regarding a detailed analysis of marketing of promotion of Kotak

Securities online trading products, studying its current scenario and studying the challenges

faced by Kotak Securities online division.

The study helps to know about the market position of Kotak securities as compared to other

market players, through the opinion of customers and promoting the products of Kotak

securities. Opinion of customers and promoting the products of Kotak securities.

We use to put canopies in front of various financial institutions like banks, commercial

places and entertainment places (like to approach to the people and promoting the

products of Kotak securities.

Through directly and data available, we used to do telemarketing for the investors and the

non investors and try to convince them about the Kotaksecurities.com and how it is better

from others.

Personally meeting them and providing them with the company brochures and giving

them detailed knowledge about how with a minimum amount of money he can start with

on line trading .Telling him about the various accounts, which he can open with Kotak

and telling him the process how new join his e‐trading account, Demat account with his

saving account.

At the same time, handling back office work, which included solving the client’s

quarries, to place orders, giving daily recommendation to the existing clients?

Also giving the demonstration of the software K.E.A.T. (Kotak E – trading) Assess

Terminal) through which the clients can buy and sell his shares and can do all the trading

online only.

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CHAPTER 6

AREA ASSIGNED AND TARGET ASSIGNED

Area assigned

Area assigned to me was Gwalior city only. Where mainly I have surveyed the investors of City

centre and Lashkar area.

Target assigned

As my work was mainly generating leads and converting them into the clients, and I was also

handling back office work so the target given to me was 2 accounts in two months.

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DAY TO DAY JOB EXPERIENCE

As Kotak securities is one of the leading financial institution in India, so for the first 10

days was the training period to about the profile the company, the knowledge of Kotak

securities, the product of Kotak securities, account opening process in Kotak Securities,

complete knowledge of market watch,

Also about the ups and downs of the market how NIFTY and SENSEX moves, what are

the main scripts on which they moves and complete knowledge of the software K.E.A.T.

After the training of the ten days, I was very familiar to all the products, the account

opening process and about the software and Kotak securities products and various

accounts that can be opened in Kotak Securities.

I used to do telemarketing to generate leads and converting them into the clients of Kotak

Securities also use to put canopies in front of banks, commercial places, entertainment

places for promoting the products of Kotak Securities online division.

I was handling the back office work which included giving daily recommendations to the

existing clients, solving the client’s queries, placing the orders of clients through call and

trade, fillings account opening forms.

During my training period I was the one to generate maximum leads, for which my

regional manager and the executive appreciated me.

During the last seven to ten days I have done a survey of the investors of Gwalior city

and found that still people are not aware of Kotak Securities and those who are aware are

mainly above the age of 50 as they have a deep knowledge of share market.

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CHAPTER 7

SUGGESTIONS AND RECOMMENDATIONS

Some of the Suggestions and recommendations for improving the present image as

well as the Services of Kotak securities Ltd. are as follows:

More Branches:

Some more branches should be opened so it becomes more easy and approachable

for the people to do their transaction. The branches should have well trained

employees.

Customer awareness:

The people should be updated with the new issues and the schemes started by the

organizations to the existing customers. The customers should be informed about

the newly issued scrip’s as well as be given daily basis tips/news for profitable

transactions. Regular contact with the customers through telephone can be

maintained for smooth running of the business.

Feedback:

A proper feedback system should be designed to take care of the dissatisfied

customers and solving their problem as their bad works of mouth publicity can

make Kotak Securities Ltd lose its potential as well as existing customers.

Well Trained Customer Care Staff:

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For satisfactory handling queries to establish more good standards in trading can

be done through outstanding performance, courteous services and a high ethical

benchmark

Higher Penetration in the Untapped Market:

Approaching all the potential clients, making them aware that various instruments

and convincing them.

Newspaper and Agents:

Newspaper and agents are most effective tools for awareness, so Kotak Securities

Ltd should use these tools more for advertisement.

Others:

1. According to the analysis the investor above the age of 50 years must be taken into

consideration as they are having great potential regarding investment.

2. Kotak Securities must use marketing tools like point of purchase, advertisement through

mass media, like newspapers, magazines, televisions, fairs, and advertisements on

Internet.

3. Documents required for an account opening are too unique and confusing. Voters ID or

driving license should be taken both as identity proof as well as address proof.

4. The organization is lacking on the parameters of motivation. For example incentives on

targets should be given time to time.

5. Kotak must lay some sound strategies to trap more customers by providing them with less

brokerage in comparison to other.

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CHAPTER 8

DIFFICULTIES FACED

• High Brokerage: ‐ Kotak Securities has high brokerage as compare to other online players.

• Call and trade: ‐ Call and trade facility is payable which is not convenient for all the clients.

• Saving Accounts: ‐ saving account with Kotak Mahindra Bank, AXIS, HDFC, HSBC and

CITI bank is mandatory.

• Documentation: ‐ in Kotak Securities the documentation process is very lengthy and

cumbersome.

• Lack of Awareness:‐ in Gwalior city, though Kotak is well known but still there is lack of

awareness regarding Kotak Securities and its online division i.e. Kotaksecurities.com and its

products.

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CHAPTER 9

MAJOR LIMITATIONS

Uncertainty of market

Securities investments are subject to market risk and there is no assurance of guarantee that the

objective of the scheme will be achieved.

Tough Competition

Due to the large number of local brokers investors are confused that where to invest and where

not to invest. Local brokers are ready to give the same investment plan in very least brokerage.

Rigid and traditional structure

The people believe investing in bank FD’s and post office saving and are reluctant to invest in

mutual fund. People like to secure money in terms of leading to the people on high interest, the

meant there is safe.

Socio‐economic factors

The most of the people of the country are agriculture dependent. So they invest less in the capital

in the market.

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CHAPTER 10

CONCLUSION

From the analysis of the responses receive from the investors in Chennai city, a

majority of investors are found to be conscious and enlightened regarding their

investment, returns and growth.

We have very good market in Chennai which comprises potential investors but due

to lack of basic promotion and publicity these investors are not fully aware of our

company and who so ever is aware of the company their investment decisions are

done on the basis of security, analysis of risk yield and return few parameters like

demographic, physiological, income etc.

E‐trading account is a unique combination of saving account; Demat and online

share trading account as no other depository provides all the three facilities

together.

So my findings are that Kotak securities should make little more efforts to trap the

potential investors, like media advertisements, paper advertisement, seminars and

business meets and building a good relationship with potential business, more over

friendly guidance.

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CHAPTER 11

BIBLIOGRAPHY

NEWSPAPERS

Economic Times

Business Standard

Times Of India

Hindustan Times

MAGAZINES

Capital Market

Mutual funds

Business Today

Business India

Annual report, Kotak securities Ltd.

Pamphlets and Brochures of Kotak securities Ltd.

Organizational Profile of Kotak Securities Ltd.

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WEBSITES

www.kotaksecurities.com

www.kotakstreet.com

www.kotak.com

www.goggle.com

www.businesstoday.com

www.nseindia.com

www.bseindia.coM

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