PROJECT REPORTON

CUSTOMER SATISFACTION OF ICICI SECURITIES LTDSUBMITTED IN PARTIAL FULFILLMENT FOR THE AWARD OF THEDEGREE OF BACHELOR OF BUSINESS ADMINISTRATION (B&I) 2011-14

UNDER THE GUIDANCE OF SUBMITTED BYMs. Rajni Hira Vijay KapoorAssistant Professor, MAIMS 04214701811 BBA (B&I) 6th Semester

Maharaja Agrasen Institute of Management StudiesAffiliated to Guru Gobind Singh Indraprastha University, DelhiPSP Area, Plot No. 1, Sector 22, Rohini, Delhi-110086

TABLE OF CONTENTS

Chapter 1 Introduction1.1 Overview of the Industry as a whole1.2 About ICICI SECURITIES LTD1.3 Profile of the organization1.4 Competition Information1.5 SWOT Analysis of the Organization2

Chapter 2 Research Methodology2 2.1 Objectives of the study2.2 Scope of the Study2.3 Managerial Usefulness of the study2.4 Research Design and Data collection

Chapter 3 Data Analysis & Findings3.1 Analysis of Primary Data3.2 Analysis of Secondary Data3.3 Findings

Chapter 4 Conclusions

Chapter 5 Recommendations & Suggestions4 5

Chapter 6 Limitations of the study5 6 BibliographyAnnexure

STUDENT UNDERTAKING

This is to certify that I have completed the Project titled Customer Satisfaction of ICICI Securities Ltd under the guidance of Ms. Rajni Hira in partial fulfillment of the requirement for the award of degree of Bachelor of Business Administration at Maharaja Agrasen Institute of Management Studies, Delhi. This is an original piece of work & I have not submitted it earlier elsewhere.

Vijay Kapoor04214701811

CERTIFICATEThis is to certify that the project titled Customer Satisfaction of ICICI Securities Ltd is an academic work done by Vijay Kapoor submitted in the partial fulfillment of the requirement for the award of the degree of Bachelor of Business Administration from Maharaja Agrasen Institute of Management Studies, Delhi, under my guidance & direction. To the best of my knowledge and belief the data & information presented by him in the project has not been submitted earlier.

Rajni Hira(Assistant Professor, MAIMS)

ACKNOWLEDGEMENT

I have taken efforts in this project. However, it would not have been possible without the kind support and help of many individuals. I would like to extend my sincere thanks to all of them. Many individuals have contributed to the completion of this project. I would be failing to fulfill my duty if I do not acknowledge the deep debt I owe to these individuals.I feel immense pleasure in expressing my sincere thanks and deep sense of gratitude to Mr.C.S. Sharma (Director, MAIMS) for giving me the opportunity to undertake this project and Ms. Rajni Hira (Faculty, MAIMS) for her time and valuable efforts. She constantly encouraged me right from the selection of the project to final preparation of my project.

Vijay KapoorBBA (B&I) 6th SemesterEnrollment Number: 04217401811

EXECUTIVE SUMMARY

This report is about comparative analysis of various major corporate stock brokers. The report starts with the overview of Indian Stock Market, followed by the company profile of ICICI Securities Ltd, its history, evolution and achievements. The project report also details the basic comparison of the company with the most reputed brokerage players in the market. The comparison is done through different parameters.

The analysis is done by the purpose of questionnaire which is filled by 50 clients of ICICI Securities Ltd. On the basis of answer given by the respondents, the analysis is done and graphs are made. The questionnaire is also enclosed in the project.

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Chapter 1Introduction

1.1 Overview of Indian Financial Market

Origin of Indian Stock MarketThe origin of the stock market in India goes back to the end of the eighteenth century when long-term negotiable securities were first issued. However, for all practical purposes, the real beginning occurred in the middle of the nineteenth century after the enactment of the companies Act in 1850, which introduced the features of limited liability and generated investor interest in corporate securities. An important early event in the development of the stock market in India was the formation of the native share and stock brokers 'Association at Bombay in 1875, the precursor of the present day Bombay Stock Exchange. This was followed by the formation of associations/exchanges in Ahmedabad (1894), Calcutta (1908), and Madras (1937). In addition, a large number of ephemeral exchanges emerged mainly in buoyant periods to recede into oblivion during depressing times subsequently.Stock exchanges are intricacy inter-woven in the fabric of a nation's economic life. Without a stock exchange, the saving of the community- the sinews of economic progress and productive efficiency-would remain underutilized. The task of mobilization and allocation of savings could be attempted in the old days by a much less specialized institution than the stock exchanges. But as business and industry expanded and the economy assumed more complex nature, the need for 'permanent finance' arose. Entrepreneurs needed money for long term whereas investors demanded liquidity the facility to convert their investment into cash at any given time. The answer was a ready market for investments and this was how the stock exchange came into being.Stock exchange means anybody of individuals, whether incorporated or not, constituted for the purpose of regulating or controlling the business of buying, selling or dealing in securities. These securities include:(i) Shares, scrip, stocks, bonds, debentures stock or other marketable securities of a like nature in or of any incorporated company or other body corporate;(ii) Government securities; and(iii) Rights or interest in securities.

The Bombay Stock Exchange (BSE) and the National Stock Exchange of India Ltd (NSE) are the two primary exchanges in India. In addition, there are 22 Regional Stock Exchanges. However, the BSE and NSE have established themselves as the two leading exchanges and account for about 80 per cent of the equity volume traded in India. The NSE and BSE are equal in size in terms of daily traded volume. The BSE has over 6000 stocks listed. Most key stocks are traded on both the exchanges and hence the investor could buy them on either exchange. Both exchanges have a different settlement cycle, which allows investors to shift their positions on the bourses. The primary index of BSE is BSE Sensex comprising 30 stocks. NSE has the S&P NSE 50 Index (Nifty) which consists of fifty stocks. The BSE Sensex is the older and more widely followed index.

Both these indices are calculated on the basis of market capitalization and contain the heavily traded shares from key sectors. The markets are closed on Saturdays and Sundays. Both the exchanges have switched over from the open outcry trading system to a fully automated computerized mode of trading known as BOLT (BSE on Line Trading) and NEAT (National Exchange Automated Trading) System.It facilitates more efficient processing, automatic order matching, faster execution of trades and transparency; the scrip's traded on the BSE have been classified into 'A', 'B1', 'B2', 'C', 'F' and 'Z' groups. The 'A' group shares represent those, which are in the carry forward system (Badla). The 'F' group represents the debt market (fixed income securities) segment. The 'Z' group scrip's are the blacklisted companies. The 'C' group covers the odd lot securities in 'A', 'B1' & 'B2' groups and Rights renunciations. The key regulator governing Stock Exchanges, Brokers, Depositories, Depository participants, Mutual Funds, FIIs and other participants in Indian secondary and primary market is the Securities and Exchange Board of India (SEBI) Ltd.

In general, the financial market divided into two parts, Money Market and Capital Market. Securities market is an important, organized capital market where transaction of capital is facilitated by means of direct financing using securities as a commodity. Securities market can be divided into a primary market and secondary market.

PRIMARY MARKETThe primary market is an intermittent and discrete market where the initially listed shares are traded first time, changing hands from the listed company to the investors. It refers to the process through which the companies, the issuers of stocks, acquire capital by offering their stocks to investors who supply the capital. In other words primary market is that part of the capital markets that deals with the issuance of new securities. Companies, governments or public sector institutions can obtain funding through the sale of a new stock or bond issue. This is typically done through a syndicate of securities dealers. The process of selling new issues to investors is called underwriting. In the case of a new stock issue, this sale is called an initial public offering (IPO). Dealers earn a commission that is built into the price of the security offering, though it can be found in the prospectus.

SECONDARY MARKETThe secondary market is an on-going market, which is equipped and organized with a place, facilities and other resources required for trading securities after their initial offering. It refers to a specific place where securities transaction among many and unspecified persons is carried out through intermediation of the securities firms, i.e., a licensed broker, and the exchanges, a specialized trading organization, in accordance with the rules and regulations established by the exchanges.

A bit about history of stock exchange they say it was under a tree that it all started in 1875. Bombay Stock Exchange (BSE) was the major exchange in India till 1994. National Stock Exchange (NSE) started operations in 1994.

MARKET BASICS Electronic Trading:Electronic trading eliminates the need for physical trading floors. Brokers can trade from their offices, using fully automated screen-based processes. Their workstations are connected to a Stock Exchange's central computer via satellite using Very Small Aperture Terminus (VSATs). The orders placed by brokers reach the Exchange's central computer and are matched electronically.

Exchanges in India: The Stock Exchange, Mumbai (BSE) and the National Stock Exchange (NSE) are the country's two leading Exchanges. There are 20 other regional Exchanges, connected via the Inter-Connected Stock Exchange (ICSE). The BSE and NSE allow nationwide trading via their VSAT systems.

Index:An Index is a comprehensive measure of market trends, intended for investors who are concerned with general stock market price movements. An Index comprises stocks that have large liquidity and market capitalization. Each stock is given a weight age in the Index equivalentto its market capitalization. At the NSE, the capitalization of NIFTY (fifty selected stocks) is taken as a base capitalization, with the value set at 1000. Similarly, BSE Sensitive Index or Sensex comprises 30selected stocks. The Index value compares the day's market capitalization vis--vis base capitalization and indicates how prices in general have moved over a period of time.

Execute an Order:Select a broker of your choice and enter into a broker-client agreement and fill in the client registration form. Place your order with your broker preferably in writing. Get a trade confirmation slip on the day the trade is executed and ask for the contract note at the end of the trade date.

Need a Broker:As per SEBI (Securities and Exchange Board of India.) regulations, only registered members can operate in the stock market. One can trade by executing a deal only through a registered broker of a recognized Stock Exchange or through a SEBI-registered sub-broker.

Contract Note:A contract note describes the rate, date, time at which the trade was transacted and the brokerage rate. A contract note issued in the prescribed format establishes a legally enforceable relationship between the client and the member in respect of trades stated in the contract note. These are made in duplicate and the member and the client both keep a copy each. A client should receive the contract note within 24 hours of the executed trade.

Split:A Split is book entry wherein the face value of the share is altered to create a greater number of shares outstanding without calling for fresh capital or altering the share capital account. For example, if a company announces a two-way split, it means that a share of the face value of Rs 10 is split into two shares of face value of Rs 5 each and a person holding one share now holds two shares.

Buy Back:As the name suggests, it is a process by which a company can buy back its shares from shareholders. A company may buy back its shares in various ways: from existing shareholders on a proportionate basis; through a tender offer from open market; through a book-building process; from the Stock Exchange; or from odd lot holders. A company cannot buy back through negotiated deals on or off the Stock Exchange, through spot transactions or through any private arrangement.

Settlement Cycle:The accounting period for the securities traded on the Exchange. On the NSE, the cycle begins on Wednesday and ends on the following Tuesday, and on the BSE the cycle commences on Monday and ends on Friday. At the end of this period, the obligations of each broker are calculated and the brokers settle their respective obligations as per the rules, bye- laws and regulations of the Clearing Corporation. If a transaction is entered on the first day of the settlement, the same will be settled on the eighth working day excluding the day of transaction. However, if the same is done on the last day of the settlement, it will be settled on the fourth working day excluding the day of transaction.

Auction:An auction is conducted for those securities that members fail to deliver/short deliver during pay-in. Three factors primarily give rise to an auction: short deliveries, un-rectified bad deliveries, and un-rectified company objections.

Rolling Settlement:The rolling settlement ensures that each day's trade is settled by keeping a fixed gap of a specified number of working days between a trade and its settlement. At present, this gap is five working days after the trading day. The waiting period is uniform for all trades. In a Rolling Settlement, all trades outstanding at end of the day have to be settled, which means that the buyer has to make payments for securities purchased and seller has to deliver the securities sold. In India, we have adopted the T+5 settlements cycle, which means that a transaction entered into on Day 1 has to be settled on the Day 1 + 5 working days, when funds pay in or securities pay out takes place.

Advantages of Rolling SettlementsAs mentioned earlier, this is the system practiced in developed countries. Pay outs are quicker than in weekly settlements, and investors will benefit from increased liquidity. The other benefit of the modified system is that it keeps cash and forward markets separate. In the current system, the trader has five days to square off his transaction which leads to a high level of speculation as people even without funds tend to "play" the market. During volatile markets, especially in a bearish market, this often leads to a payment problem which has dogged the Indian stock exchanges for a long time. It provides for a higher degree of safety, and once mechanisms such as futures and stock-lending become popular, it would result in quality speculation and genuine investor interest.

Short Selling:Short selling is a legitimate trading strategy. It is a sale of a security that the seller does not own, or any sale that is completed by the delivery of a security borrowed by the seller. Short sellers take the risk that they will be able to buy the stock at a more favorable price than the price at which they "sold short. The selling of a security that the seller does not own, or any sale that is completed by the delivery of a security borrowed by the seller, Short sellers assume that they will be able to buy the stock at a lower amount than the price at which they sold short.

Separate Market for Auctions: The buy/sell auction for a capital market security is managed through the auction market. As opposed to the normal market where trade matching is an on-going process, the trade matching process for auction starts after the auction period is over. If the shares are not bought at the auction, i.e., if the shares are not offered for sale, the Exchange squares up the transaction as per SEBI guidelines. The transaction is squared up at the highest price from the relevant trading period till the auction day or at 20 per cent above the last available Closing price whichever is higher. The pay-in and pay-out of funds for auction square up is held along with the pay-out for the relevant auction.

Bad Delivery:SEBI has formulated uniform guidelines for good and bad delivery of documents. Bad delivery may pertain to a transfer deed being torn, mutilated, overwritten, defaced, or if there are spelling mistakes in the name of the company or the transfer. Bad delivery exists only when shares are transferred physically. In "Demat" bad delivery does not exist.

Dematerialization:Dematerialization in short called as 'demat' is the process by which an investor can get physical certificates converted into electronic form maintained in an account with the Depository Participant. The investors can dematerialize only those share certificates that are already registered in their name and belong to the list of securities admitted for dematerialization at the depositories.

Depository:The organization responsible to maintain investor's securities in the electronic form is called the depository. In other words, a depository can therefore be conceived of as a "Bank" for securities. In India there are two such organizations viz. NSDL and CDSL. The depository concept is similar to the Banking system with the exception that banks handle funds whereas a depository handles securities of the investors. An investor wishing to utilize the services offered by a depository has to open an account with the depository through Depository Participant.

Depository Participant: The market intermediary through whom the depository services can be availed by the investors is called a Depository Participant (DP). As per SEBI regulations, DP could be organizations involved in the business of providing financial services like banks, brokers, custodians and financial institutions. This system of using the existing distribution channel (mainly constituting DPs) helps the depository to reach a wide cross section of investors spread across a large geographical area at a minimum cost. The admission of the DPs involves a detailed evaluation by the depository of their capability to meet with the strict service standards and a further evaluation and approval from SEBI. Realizing the potential, all the custodians in India and a number of banks, financial institutions and major brokers have already joined as DPs to provide services in a number of cities.

OFFLINE TRADINGOffline trading got on the track in India in 1875 after the establishment of Bombay Stock Exchange. Traditionally stock trading is done through stock brokers, personally or through telephones. As number of people trading in stock market increase enormously in last few years, some issues Location constrains Busy phone lines Miscommunication etc.Started growing in stock broker offices. Information technology (Stock Market Software) helped stock brokers in solving these problems with Online Stock Trading.

ONLINE TRADINGOnline Stock Market Trading is an internet based stock trading facility. Investor can trade shares through a website without any manual intervention from Stock Broker. Online trading arrived in India around Year 2000. Somewhere in the nineties there was a whole move to make shares electronic and fungible (like currency notes, a share are a share) and move them to the dematerialized (demat) form. Slowly, from the physical world, shares moved into the digital world at the NSDL. Then, trading became electronic.First it was a few of the blue chips, then it was most of the blue chips and slowly it has taken over most of the market. New issues are today, exclusively electronic. If digitization took care of the back end, it has also made life easy at the front end. The act of placing buy/sell orders for financial securities and/or currencieswith the use of a brokerage's internet-based proprietary trading platforms.The use of online tradingincreased dramaticallyin the mid to late-'90s with theintroduction of affordable high-speed computers and internet connections.

RAPID GROWTHWith introduction of online trading, the growth has been exceptionally good for the stock markets in India. In the back of wide ranging reforms in regulation and market practice as also the growing participation of foreign institutional investment, stock markets in India have showed phenomenal growth since the early 1990s. Investor base continued to grow from domestic and international markets. The value of share trading witnessed a sharp jump too. Stock markets became intensely technology and process driven, giving little scope for manual intervention that has been the source of market abuse in the past. Electronic trading, digital certification, straight through processing, electronic contract notes, online broking have emerged as major trends in technology. Risk management became robust reducing the recurrence of payment defaults. Product expansion took place in a speedy manner. Indian equity markets now offer, in addition to trading in equities, opportunities in trading of derivatives in futures and options in index and stocks. Stock exchange reforms brought in professional management separating conflicts of interest between brokers as owners of the exchanges.

Essential component - The essential component of Internet-based trading is the interface between broker, bank and depository participant, and as Net-based trading becomes a reality this interface will develop.

Process of Online Trading

Why trade online?

Access to Information , Research & statistics on the website Transparency Hassle Free Less Time consuming Control in the hands of Investor After Market Orders Trade any time anywhere Completely Safe & Secured Transactions

Advantages of online trading Internet trading facilitates clients to trade as and when they want, provided they have a Net connection. Clients who trade through the Net will be able to do it with a lower transaction cost compared to traditional brokers. This trading system helps the broker to expand his business. Without much capital investment, the broker will be able to enlarge his client base. With just one office in the metro, the broker will be able to do business with many times the number of existing clients.

Major issues Internet-based trading, to become really popular, should have both seamless trading and seamless settlement; whereas now only the former is possible this prevents the Internet broking community from announcing large-scale reductions in brokerage. Ease of trading and settlement along with reduction in transaction costs is what investors look for in the new system. Hence, bankers and DPs will have to change their systems to enable seamless settlements. At present, when the client pays an advance deposit, the broker fixes the exposure limit, and if there is a sudden fluctuation in the share price, the client is not able to trade unless funds move to the broker physically. This process takes a minimum of two days, by which time the price would have changed. The ideal situation is where the client is able to trade on the basis of his deposit in the bank, which will be accessible to the broker through networking. Another serious issue is the efficiency of the Internet infrastructure in the country, which affects the speed of execution. During the day, traffic is so great that either the line is not available or it is frustratingly slow, defeating the very purpose of Net-based trading. In short, seamless settlement of Net transactions and improvement of the Internet infrastructure are of vital importance for exponential growth of Internet-based trading.

1.2 About ICICI Securities Ltd

ICICI Securities Ltd is an integrated securities firm offering a wide range of services including investment banking, institutional broking, retail broking, private wealth management, and financial product distribution. ICICI Securities sees its role as 'Creating Informed Access to the Wealth of the Nation' for its diversified set of client that includes corporates, financial institutions, high net-worth individuals and retail investors. Headquartered in Mumbai, ICICI Securities operates out of66 cities and towns in India and global offices in Singapore and New York.

ICICI Securities Inc., the step-down wholly owned US subsidiary of the company is a member of the Financial Industry Regulatory Authority (FINRA) / Securities Investors Protection Corporation (SIPC). ICICI Securities Inc. activities include Dealing in Securities and Corporate Advisory Services in the United States. ICICI Securities Inc. is also registered with the Monetary Authority of Singapore (MAS) and operates a branch office in Singapore.1.2.1 Founders & PromotersICICI Securities Limited. Ms. Chanda D. Kochhar,Chairperson Mr. Uday Chitale Mr. Narendra Murkumbi Ms. Zarin Daruwala Mr. Anup Bagchi, Managing Director & CEO Mr. Ajay Saraf, Executive Director Mr. Ketan Patel ICICI Securities Holding Inc. Mr. Sandeep Batra, Director Mr. Sriram Iyer, Director Mr. Warren Law

1.2.2 Management

Anup Bagchi is MD & CEO at ICICI Securities Ltd. Mr.Bagchi will spearhead the company's initiatives in Corporate Finance which includes Equity Capital Markets Advisory Services, and Institutional Equities; Retail Equities which includes ICICIdirect.com, one of the largest players in the internet brokerage space and Financial.Ajay Saraf is the Executive Director and Head of Corporate Finance and Institutional Equities at ICICI Securities.

1.2.3 Milestones

Retail ICICIdirect.com, won the Outlook Money ' Best e- Brokerage Award' eighth time in a row. Previously, the firm won the award in 2004, 2005, 2007, 2008, 2009, 2010 and 2011. ICICI Securities won the Outlook Smart use Technology eRetailer of the year 2013 conferred by FIHL in association with HomeShop18.com. ICICIdirect.com won the 'Stock Broker of the Year' award at the Money Today FPCIL Awards 2012 ICICI Securities Business Partners (Sub Broker channel) won the 'Franchisor of the Year' at the Franchise Awards 2012 for the fourth time in a row. ICICI Securities won the 'BSE IPF D&B Equity Broking Awards 2012' under two categories: Best Equity Broking House - Cash Segment Largest E-Broking House ICICI Securities won the Chief Learning Officer Award from World HRD Congress for Innovation in learning category. ICICI Securities won the Grand Jury Award for 'Commendable performance by National Financial Advisor (Retail) - Online' at the CNBC TV 18 - Financial Advisor Awards 2011. The awards recognize India's best Financial Advisors. ICICI Securities Business Partners (Sub Broker channel) won the 'Franchisor of the Year at the Franchise Awards 2011', third time in a row. ICICI Securities was the winner of the Smart use Technology eRetailer of the year' 2012 award conferred by Franchise India in association with UTV Bloomberg for the first time. ICICIdirect.com, won the Outlook Money ' Best e- Brokerage Award' seventh time in a row. Previously, the firm won the award in 2004, 2005, 2007, 2008, 2009 and 2010. ICICI Securities' Business Partners (Sub Broker channel) won the 'Franchisor of the Year 2011' for the third consecutive year. Anup Bagchi, MD & CEO has been honored with the Zee Business 'Industry Newsmaker Award 2010' for his tremendous and unmatched contribution in the field of Finance Pankaj Pandey, Head- Research ICICI direct has won the Zee Business Best Market Analyst 2010 award in the Equities Fundamental Category CMO Asia Awards for Excellence in Branding and Marketing 2010: Brand Leadership Award (overall) 'Campaign of the Year' for the Trade Racer Campaign Brand Excellence in Banking and Financial Services for the store format Award for Brand Excellence in the Internet Business Franchisor of the year award 2009 Retail concept of the year awards 2009 Frost and Sullivan 2009 Award for Customer Service Leadership ICICI direct, the neighborhood financial superstore won the prestigious Franchise India `Service Retailer of the Year 2008 award. ICICI direct has also won the CNBC AWAAZ 2007 Consumer Award for the Most Preferred Brand of Financial Advisory Services. Best Broker - Web 18 Genius of the Web Awards 2007 Institutional ICICI Securities awarded the Asia money `Best Domestic Equity House' for 2012 Vikash Mantri tops The Wall Street Journal's Asia's Best Analysts survey in the media sector for 2010 ICICI Securitieshas awarded as the Best Investment Bank 2008 by Global Finance Magazine The Corporate Finance group also was awarded a runner-up Best Merchant Banker by Outlook Money in 2007. ICICI Securitiestopped the Prime Database League Tables 2007 for money raised through IPOs/FPOs. The equities team was adjudged the 'Best Indian Brokerage House-2003' by Asia money. Technology Fairfax Business Media has recognized ICICI Securities as a recipient of CIO 100 Asia award in 2013. ICICI Securities has been awarded the NASSCOM IT Innovation Awards2013. CIO Masters for Collaboration and Cloud was awarded by Biztech2 (Network 18) in 2013. ICICI Securities has been conferred by Dataquest in 2012 Business Technology Excellence award Business Technology Innovation award IDG India has recognized ICICI Securities as a recipient of CIO 100 award in 2009, 2010, 2011 and 2012, four times in a row. IDG India has conferred the CIO Hall of Fame award in 2012. EMC Transformers Award was presented for best use of IT to transform business in 2012 CIO Masters for Virtualization was awarded by Biztech2 (Network 18) in 2012 ICICI Securities was the Bloomberg UTV CXO Awards Finalist for Best Utilization of IT to Transform Business in 2011 ICICI Securities was conferred the Gold CIO award jointly by CIOL and Dataquest at the Enterprise Awards 2010 ICICI Securities was the NASSCOM CNBC IT User Awards Finalist in 2009 and 2010 Indian Bank's Association Business Technology Awards was presented for Best Online Trading Platform in 2006 and 2007

1.3 Profile of the Organization Looking into the day-by-day increasing demand for Online Trading, ICICI Securities Ltd has its state-of-the-art web based trading platform, through its websites.Online service is for a segment of investors who have different expectations from an equity wealth manager restricting their willingness and ability to sort to premium advisory services. It has been serving its clients for over years in a variety of disciplines.ICICI Securities Online comes in really handy when an Investor/Trader is a self trader who would not be looking for a premium advisory service. The big differential at ICICI Securities is that even here they have dealers who would assist for them to trade independently, with just in case help.ICICI Securities takes a client-focused approach to execution by providing unmatched accountability and transparent dialogue. Team of experienced professionals dedicated to serving the firms corporate finance clients Single point person responsible for each client Focus on best possible execution

Products and Services Offered

Equity trading Derivative Trading. Commodities Trading. Mutual fund & IPO distribution. Depository services (ISO 9001:2000) for Shares & Commodities. Real time internet trading. Web based accounting. Research support to the client through SMS and E-mails. Clearing services for trading members in NSE and Future & Options.

ICICI SECURITIES LTD Group Overview

1. EquityEquity investments generally refers to the buying and holding of share of stock on a stock market by individuals and firms in anticipation of income from dividends and capital gain as the value of the stock rises. It also sometimes refers to the acquisition of equity (ownership) participation in a private (unlisted) company or a start-up (a company being created or newly created).When the investment is in infant companies, it is referred to as venture capital investing and is generally understood to be higher risk than investment in listed going-concern situations.The equities held by private individuals are often held via mutual funds or other forms of pooled investment vehicle, many of which have quoted prices that are listed in financial newspapers or magazines; the mutual funds are typically managed by prominent fund management firms. Such holdings allow individual investors to obtain the diversification of the fund(s) and to obtain the skill of the professional fund managers in charge of the fund(s).

2. DerivativesSince derivatives instrument provide good leverage opportunity, it is a great tool for speculation. Leverage is a double edge sword for which one requires an equity advisor. Their advisors will also help them with various strategies like Bull Spread, Bear Spread, Cover call writing, hedging strategies etc. This is to help them to make better trading returns. The Equity Advisor doesnt stop at just that, he goes a step further to ensure that clients trades are settled and traded with proper margin in their account in a timely manner. This allows them to give them a convenient single window service and their advisor becomes the single point contact for all their equity related matters.

3. InsuranceAdded Life Insurance during April 2008 to their Wealth Management Portfolio thereby filling the gap in their basket of the products and thus providing comprehensive financial planning to their clients covering not all wealth creation solutions, but also wealth protection through proper risk management process. With complete emphasis on the solution providing, they approach their clients, not merely with insurance product per se, but with module (life profiler) to help their clients with objective based planning for life, identify and understand the various risk attached to his/her life and later advising them with appropriate customized solution.MOSL through their insurance partners offers insurance coverage and wealth creation opportunities to meet clients different financial goals during the various stages of clients life. The plans offer them the control to manage their protection and investment in one account. It is designed to remove their worries and making them secure in the knowledge that they and their loved ones are protected against any untoward events.

4. Mutual FundA mutual fund is just the connecting bridge or a financial intermediary that allows a group of investors to pool their money together with a predetermined investment objective. The mutual fund will have a fund manager who is responsible for investing the gathered money into specific securities (stocks or bonds). When they invest in a mutual fund, they are buying units or portions of the mutual fund and thus on investing becomes a shareholder or unit holder of the fund.Mutual funds are considered as one of the best available investments as compare to others they are very cost efficient and also easy to invest in, thus by pooling money together in a mutual fund, investors can purchase stocks or bonds with much lower trading costs than if they tried to do it on their own. But the biggest advantage to mutual funds is diversification, by minimizing risk & maximizing returns.

5. IPOIPO or 'New Issues' is it is better known, are a source of great enthusiasm and excitement among investors across the country. At ICICI SECURITIES IPO Desk, they carefully analyse, prepare research notes and recommend IPO for their clients to invest in. Their IPO Team does rigorous analysis on the quality of new issue, the company's track record and its business plans. More importantly, it critically evaluates the pricing of the issue and its friendliness. Given the background and experience of ICICI SECURITIES RESEARCH TEAM they are able to identify the Quality issues out of a series of new issues that hit the market.

6. Depository ServicesA depository can be compared to a bank. A depository holds securities (like shares, debentures, bonds, Government Securities, units etc.) of investors in electronic form. Besides holding securities, a depository also provides services related to transactions in securities. A depository interfaces with the investors through its agents called Depository Participant (DPs). If an investor wants to avail the services offered by the depository, the investor has to open an account with a DP. This is similar to opening an account with any branch of a bank in order to utilise the bank's services.

7. CommodityMulti Commodity Exchange (MCX) is an independent commodity exchange based in India. It was established in 2003 and is based in Mumbai. The turnover of the exchange for the period Apr-Dec 2011 was INR 32 Trillion. MCX offers futures trading in Agricultural Commodities, Bullion, Ferrous & Non-ferrous metals, Pulses, Oils & Oilseeds, Energy, Plantations, Spices and other soft commodities.

8. Corporate Fixed DepositsCorporate fixed deposits are similar to banking FD's, except that the money invested is with a company and not a bank. Deposits under corporate FD's are governed by the Companies Act under Section 58A. However, these deposits are unsecured, On the other hand, companies FD's apart from giving a superior interest rate than banks, also provide investors with a short-term deposits option with only a six month lock in period as well as the benefit of having no income text deducted at source if the interest income is up to Rs 5,000 in one financial year. Investments can also be spread in more than one company, so that interest from one company does not exceed Rs 5,000.Corporate FD' s however do not change their rates during a six month to one year period, which provides stability to the investment, These deposits, while are not very large from a big company's point of view end up running more on a constant addition and exclusion of investors. The interest paid by the companies is usually on a half yearly basis. Majority of the companies who raise money via fixed deposits have quarterly interest pay-outs and the interest vary from 9-13% based on the option one chooses. With such large fixed deposit issues available in the market, mutual funds may lose out in investors who invest in their fixed income products, and give to competition within the fixed income market space.

Distinct Features of ICICI SECURITIES LTDs Online Trading Products

Online transfer of funds through multiple banks. Trade in NSE cash, NSE F&O and BSE on a single screen. Real time streaming quotes. Instant order/trade confirmations on the same window. Integrated DP, back office and trading a/c. Trade online and over phone. 24x7 customer support centre. Benefit against selling of stock.

1.4 Competition Information

MOST REPUTED PLAYERS IN THE MARKET HDFC SECURITIES RELIANCE MONEY KOTAK SECURITIES INDIA BULLS

Indiabulls has emerged as one of the leading and fastest growing financial company in less than two year, since its initial public offering in September 2004. It is Indias leading Financial Services and Real Estate Company having over 640 branches all over India. Indiabulls serves the financial needs of more than 4,50,000 customers with its wide range of financial services and products from securities, derivatives trading, depositary services, research & advisory services, consumer secured & unsecured credit, loan against shares and mortgage & housing finance. With around 4000 Relationship Managers, Indiabulls helps its clients to satisfy their customized financial goals.

HDFC Securities, a trusted financial service provider promoted by HDFC Bank and JP Morgan Partners and their associates, is a leading stock broking company in the country, serving a diverse customer base of institutional and retail investors. HDFCsec.com provides investors a robust platform to trade in Equities in NSE and BSE, and derivatives in NSE. With HDFCsec.com, An investor gets Speed, Convenience, Timely and Relevant Information, and Expertise. The 3-in-1 Advantage Account integrates bank account; demat account and their online trading account.

Reliance Money is part of the Reliance Anil Dhirubhai Ambani Group and is promoted by Reliance Capital, the fastest growing private sector financial services company in India, ranked amongst the top 3 private sector financial companies in terms of net worth. Through its state of art of online trading platform Reliance Money is making its active foray into equity, commodity and forex broking. For the first time in India R trade will provide the Indian investors the facility of trading in Equity, Commodity, Forex, Derivatives, Mutual Funds, IPOs, Insurance and Credit Cards on a single platform.

Kotak Securities, a strategic joint venture between Kotak Mahindra Bank and Goldman Sachs (one of the worlds leading investment banks and brokerage firms, holding 25% stake in the company) is Indias leading stock broking house with market share close to 9%. Set up in 1994, Kotak Securities is a leader in Institutional Stock Broking, Portfolio Management, Retail Broking & Distribution and Depository Services. Kotak Securities has 835 outlets servicing over 3,35,000 customers and a coverage of 295 cities.

1.5 SWOT Analysis of ICICI SECURITIES LTD. STRENGTHS One of the largest broking house of India Low charges on its products as compared to most of its competitors. Advanced products given After sale services are very good. Investors need is taken care off Clearing & Trading member of F&O segment of NSE. Trading terminals of two Commodity Exchanges MCX/NCDEX Market leader in IPO in Delhi Comprehensive approach towards investments advice for MFs Intensive equity research (technical as well as fundamental) by investment analysts Commanding the faith of over 1,00,000 satisfied investors More than 1000 trading terminals of NSE, BSE, F&O, NCDEX and MCX installed Highly dedicated workforce of employees and financial advisors Strong presence in the business with a rich experience of over 20 years Equipped with hi-tech in-house Research wing and technological resources providing complete research solutions Fast, Transparent and easy to use Online Internet Trading Platform

WEAKNESSES Lacks awareness amongst most of the people. Dual portal system of trading which causes problems sometimes.

OPPORTUNITIES India has one of the world's lowest transaction cost based on screen based transaction, paperless trading and T+2 settlement cycle Growing retail investor participation, growing internet usage, faster telecom connectivity and increasing comfortable levels with internet trading. Great enthusiasm about our membership and business dealings with commodity exchanges Great opportunities also lies in the field of portfolio management services.

THREATS Very sensitive Effect of political environment, government policies, global economy, physical infrastructure. Competition from other top brokerage firms specially kotak securities and Indiabulls securities.

CHAPTER 2RESEARCH METHODOLOGY

2.1 OBJECTIVES of the Study

The objective of my project is divided into various parts: To get an overview of Indian Financial Market To understand the working of Indian Stock Market To study about the evolution of the Indian Stock Market To gain an insight into operations of ICICI SECURITIES LTD. To know about the products and services offered by ICICI SECURITIES LTD. To understand customers perception about ICICI SECURITIES LTD. To understand strengths & weaknesses of ICICI SECURITIES LTD. To perform a competitive analysis of ICICI SECURITIES LTD. on the basis of various factors

2.2 Scope of the StudyThe scope of the project is to study and know about Indian Stock Market and Indian Financial System. By studying the Online Trading, a clear option of dealing in stock exchange is been understood. Unlike olden days the concept of trading manually is been replaced for fast interaction ofshares of shareholder. By this one can access anywhere and know the present dealings in shares. In outcry, the broker has to buy or sell securities for which he has received the orders. For this,the broker orhis authorizedrepresentatives goestothe stock exchange. Basically thebrokershouts whilebuying orsellingthe securities.The floor ofthe stockexchange is divided into a number of market also post pit or wing based on particularsecurities dealt there. In the post pit or wing, the broker using open outcry method makes an offer orbid price. For making the necessary bargain, he codes his purchase or sales price, also known as offer or bid price. The dealer, to whom the price isquoted, quotes his own price quotation of the dealer suits the broker, he may lose the bargain. If he is not satisfied with the quote price hemay turn to some other dealer .On theclose of the bargain, the dealersell as well as the broker makes a brief notes of the particulars of the deal. Such notes are made on some pad and on it the number of shares, the price agreed upon, the name of theparty, what membership number etc., are noted. The disadvantages of outcry system are it lack transparency, the scope ofmanipulation,Inaudibilityandalsospeculationandmalpracticeismore,inorderto overcome the above problems, online trading came in to existence. Hence the need to study the advantages of online trading system and its importance in making the market operations and smooth while retaining the flexibility of conventional trading practices.Since the year 2000 a big boom has been witnessed in the Indian Stock Market when the market showed the coming up of Online Trading System. Many online stock trading companies came but initiallyduetolackofonlinetradingsomecompaniesvanishedandsomesurvived.The companies which survived are getting the handsome returns also attracting the foreign Investment Companies. Nowadays this sector is facing cut-throat competition and also provides huge growthprospects. The study then goes to evaluate and analyze the findings so as to present a clear picture of the trends in the online trading sector.

2.3 Managerial Usefulness of the Study This study can assist the management in decision making process. This study gives information about the competitors in the industry to the management. This study can help the management to innovate new ideas regarding products and services which can further fulfill the need of the existing as well as the potential investors. This study provides a comparative analysis of major brokerage houses in the market to the management. This study gives a SWOT analysis of the organization to the management.

2.4 Research Design NON-PROBABILITYThe non-probability respondents have been researched by selecting the persons who does the stock trading. Those persons who do not trade in stocks have not been interviewed. EXPLORATORY AND DESCRIPTIVE RESEARCHThe research is primarily both exploratory and descriptive in nature. The sources ofinformation are both primary and secondary. The objective of the exploratory research is to gain insights and ideas.The objective of the descriptive research study is typically concerned with determining the frequency with which something occurs. A well structured questionnaire was prepared for the primary research and personal interviews were conducted to collect the responses ofthe target population.Sample SizeThe sample size taken for the purpose of questionnaire is 50 clients. On the basis of their responses, the conclusions have been drawn.

Data CollectionTo determine the appropriate data for research mainly two kinds of data was collected namely primary & secondary data as explained below: PRIMARY DATAPrimary data are those, which were collected afresh & for the first time and thus happen to be original in character. However, there are many methods of collecting the primary data; all have not been used for the purpose of this project. The ones that have been used are: Questionnaire Informal Interviews Observation SECONDARY DATASecondary data is collected from previous researches and literature to fill in the respective project. The secondary data was collected through: Text Books E-Books Websites

STATISTICAL TOOLS USEDThe main statistical tools used for the collection and analyses of data in this project are: Bar Graphs

CHAPTER 3DATA ANALYSIS

3.1 ANALYSIS OF PRIMARY DATA3.1.1 View Point of a general investorThe analysis questionnaire is done on the basis of information gathered through 50 clients who do not invest with ICICI Securities, i.e., 50 clients of other corporate stock brokers.

1. What are your avenues of investment?

INTERPRETATION: It can be noted that most favorite avenue of investment for investors is Equity, followed by IPO, then Mutual Funds, Derivatives and least being investment in Commodities. This may be due to the fact that Equity trading is the most profitable source of investment due to involvement of high risk.

2. How often do you invest?

INTERPRETATION: It can be observed that investors invest in financial markets more often than the traders. This can be due to the fact that traders are low risk taking people.

3. Your mode of investing?

INTERPRETATION: The above diagram and analysis of questionnaire tells that investors investing through online mode are quite less than those through offline mode.

4. Do you know about ICICI Securities?

INTERPRETATION: It can be observed that around 45% of the investors are aware about ICICI SECURITIES LTD in todays world. This shows the growing reputation of the ICICI SECURITIES LTD through its investor friendly policies.

Rate the following Corporate Stock Brokers on a scale of 1 to 8. (1 being the best and 8 being the worst) ICICI SECURITIES LTD Direct HDFC Securities India Bulls Kotak Securities Reliance Money SMC Global Sec.The ranking done below is on the basis of rank given by investors. The total points is determined by multiplying the rank with its frequency and then added to give a final sum. The corporate stock broker who has got the lowest sum is top ranked and so on.

INTERPRETATION:It can be seen that investors are attracted towards ICICI Securities Ltd since it has been raked top by the investors. After that investors prefer HDFC Securities, IndiaBulls.

3.2 ANALYSIS OF SECONDARY DATA

Comparative Analysis of Major Corporate Stock Brokers

Top corporate stock brokers of India are being compared on the following parameters:

VALUE INDICATOR MATRIX1. Products offered2. Brokerage charged3. Services offered4. Account opening and other charges

VALUE PROPOSITION1. Tie up with banks2. Additional Services Offered3. Customer base

3.2.1 VALUE INDICATOR MATRIX

PRODUCT COMPARISONName of the broking firmEquityDerivatives

Mutual fundsCommoditiesIPOs

KOTAK SECURITIES

INDIA BULLS

RELIANCE MONEY

HDFC SECURITIES

ICICI SECURITIES

BROKERAGE COMPARISONName of the broking firmDeliveryIntradayFuturesOptions

KOTAK SECURITIES0.450.050.060.06

INDIA BULLS0.500.050.050.05

RELIANCE MONEY FlatFlatFlat Flat

HDFC SECURITIES0.500.05 0.05 0.05

ICICI SECURITIES0.250.03 0.03 0.03

SERVICES COMPARISONName of the broking firmOnline terminalSoftwareAdvisor with clientBNST facility% in BNST facilityDelivery ExposureIntraday ExposureResearch ReportsAdvisoryExp in years Days for A/c activation

KOTAK SECURITIES 754-6 6 147-8

INDIA BULLS 100 4 8 3-45

RELIANCE MONEY 100Nil5 7

HDFC SECURITIES 100 44 57

ICICI SECURITIES 100NIL6 7

OTHER CHARGES COMPARISONName of the broking firmAccount opening fee (Rs)Account maintenance fee (p.a) in (Rs)Reversal of A/c opening feeStamp duty chargedSMS charges Per month in (Rs)

KOTAK SECURITIES750360250 Nil100

INDIA BULLS900*Nil900 Nil100

RELIANCE MONEY 75050NilNil125

HDFC SECURITIES799NilNilYesNil

ICICI SECURITIES500250500NIL75

*Rs 900 charged as account opening fee by India bulls is reversed back at the time of closure of the account.

3.2.2 VALUE PROPOSITION

Competitive positioning of corporate stock brokers is studied on the following parameters:

TIE UP WITH BANKSName of the broking firmBank Tie ups

Kotak SecuritiesICICI SECURITIES LTD, UTI, CITI, HDFC, Kotak Mahindra

India bullsICICI SECURITIES LTD, UTI, HDFC

Reliance MoneyUTI, HDFC, IDBI,ICICI SECURITIES LTD

ICICI SECURITIES LTD DirectICICI SECURITIES LTD

HDFC SecuritiesHDFC

Additional Services offeredPMSAMOMARGIN FUNDING

KOTAK

INDIABULLS

RELIANCE MONEY

HDFC

ICICI SECURITIES

PMS-Portfolio Management Service AMO-After Market Order

CUSTOMER BASEName of the broking firm Customer Base

Kotak Securities 800000

India bulls 5000000

Reliance money 1500000

ICICI SECURITIES LTD Direct 5000000

HDFC Securities 100000

INTERPRETATION:From the above analysis, we can conclude that ICICI Securities is growing day by day. Its performance is much satisfactory and is giving a very tough competition to the other corporate stock brokers in the market. Thus, we can conclude that ICICI SECURITIES LTD Network has a very bright future if it goes on improving its performance like before.

3.3 FINDINGSThe findings from the study of the project and above analysis can be listed as below:- ICICI Securities is among the largest broking house of India. It is a market leader in IPO in Delhi. The Company is growing at a very rapid rate. Its performance is much satisfactory and is giving a very tough competition to the other corporate stock brokers in the market. It has witnessed a growth not only the financial revenue but also in the number of clients and the employee strength. It has low charges on its products as compared to most of its competitors and advanced products are given by the company. It provides 24x7 customer support centre. At ICICI Securities, customers come first. And their satisfaction is not just their top priority but also the driving force for them, every single day. The after sale services are very good. Investors need is taken care off. It has a highly dedicated workforce of employees and financial advisors. It has a team of experienced professionals dedicated to serving the firms corporate finance clients. It has a diversified business model. The Company offer various financial services and products ranging from equity, F & O and wholesale debt, insurance and IPO distribution, depository services to cater to the specific needs of the retail and institutional investors thus providing all these services in a single platform. It has a comprehensive approach towards investments advice for MFs. It provides the facility of Relationship manager. This is one of the unique services that ICICI SECURITIES LTD offers to its customers. Every customer is provided with a relationship manager, where in the customers can contact these managers at anytime of the day to get information on the market or get their queries clarified. It is equipped with hi-tech in-house Research wing and technological resources providing complete research solutions. Since the launch of their website, www.peeaar.in and their online trading platform, they have invested in building a technology platform. Their trader terminal is an application which allows customers to trade on both the BSE and the NSE. It has a fast, transparent and easy to use Online Internet Trading Platform.

CHAPTER 4CONCLUSION

CONCLUSIONThe online trading is growing with a rapid pace with the rising level of education among the customers. The other factors being that the Indian Investor nowadays wants to deal himself in trading rather than depending upon other middlemen. They also consider the factors like time saving in doing the online transactions, convenience etc. Although some people feel that online trading is not secure but the people doing the trading online is happy about the increasing security concerns among the companies. The year 2010 has not been so good for the stock market and the SENSEX and NIFTY has been dipping and affecting the business negatively for these companies. This is due to the fact that at these times people do not prefer to open the DMAT and Trading accounts. So the companies have to reduce their account opening fees to attract more and more customers. Also people trade very less in the bearish market and the companys profits against brokerage fees soars downwards. It is also a found fact that during the bearish market the ratio of online tradingbecomes very less. Also there is an intense competition among the companies and the companies come up with new and new promotion schemes such as discounted and negotiable brokerages, Zerobalance accounts, waiving a/c opening fee and AMC etc. As the internet penetration is growing in India this business holds a huge potential for growth.New ideas are to be implemented to catch the customers. The strategy of giving more benefits to the high end customers is very useful. Because stock market is a volatile market, anything can happen to this market. But then again if anyone study the market well he can earn a lot. Again like every coin has its two sides, similarly every financial instrument has its own features, its advantage & disadvantage. So finally investor himself/herselfhas to decide where to invest.

The mantra for success in the current situation will be educating the customers about the benefits of online trading and the amount of ROI that can be generated through it.The total trading volume ofbrokerage companies has increased from US$1239.1 billion in 2008 to US$ 1492.1 billion in 2011, and is expected to reach US$ 6535.7 billion by 2015.

CHAPTER 5RECOMMENDATIONS& SUGGESTIONS

RECOMMENDATIONS AND SUGGESTIONS

HDFC should start online mutual funds and commodities trading as soon as possible in order to compete. It should also work on its browser so that trading can be done swiftly. ODIN facility should also be started in order to make trading more convenient. Facilities such as PMS, AMO and margin funding should also be looked upon.

ICICI Securities Ltd has huge number of investors therefore in order to retain them it should minimize its charges. Should provide software so that rates change automatically. Should start giving online commodities trading.

Reliance Money in order to retain its position in the market should work upon its after sales service. Should also introduce online recharge facility of accounts. ODIN software should also be given to all its investors.

Kotak securities should allow 100% sale of shares on BTST. Should also reconsider their broking charges and make them more economical. They have high margin money which can be cut down to an extent to attract more investors.

FOR ICICI SECURITIES

ICICI Securities Ltd should take proper steps to build up its brand image. It should resolve the dual portal system of trading. It should start the portfolio management services, margin funding. Offer more attractive services in order to remain competitive. Make Odin software easy to operate. Improvement in the time delay of account opening is required. There should be a specific number of clients under each relationship manger, so that each client canbe attended properly and can be imparted desired time.

CHAPTER 6LIMITATIONSOF THE STUDY

Limitations of the Study

1. There is lack of awareness among people about investing in stock market. So the people who are aware of such things were found in specific areas for survey purposes.2. Most people are comfortable with traditional system in small towns and like to tradefrom their respective brokers, hence not providinga true opinion of theirs.3. Most ofthe people theyare nottechno savvy.Though Internet penetration isgrowing still it is not at the required level.4. Some of the respondents who did not do online trading were able to respond to only some questions.5. Due to wide spread information of the data, the scope of project becomes very wide.6. Given the time constraints, all the information could not be gathered.7. The study is confined to onlinetrading procedure only.8. Problems of listing are not covered due to limited time and to keep the study in manageable limits.9. The data is collected from the primary and secondary sources and thus is subject to slight variation than what the study includes in reality.10. The observations drawn are of past and present years only.11. Detailed study on the topic was not possible due to limited size of the project.

BIBLIOGRAPHY

The following sources have been sought for the preparation of this report:

Websites: kotaksecurities.com/home/index.html hdfcsec.com nseindia.com tradersedgeindia.com/bse_sensex.htm indiahowto.com/what-is-sensex-nifty.html indiabulls.com/default.htm ICICI Securities Ltddirect.com/newsitecontent/Home/Home.asp Wikipedia.org

ANNEXURE

A.1 QUESTIONNAIRE 1NAME:

SEX:F MCONTACT NO:

AGE:MARITAL STATUS:

Comparative analysis of the leading stock brokers on different parameters

1. Do you invest in Share market?YESNO

2. What are your avenues of investment?EquityCommoditiesMutual FundsIPODerivativesAny other

3. How often do you invest?Frequently Occasionally

4. Your mode of investing? ONLINE OFFLINE

5. Do you know about ICICI Securities?

If YESfrom where?

If NOWhich of the following corporate stock brokers you have heard about?

ICICI SECURITIES LTD DirectHDFC SecuritiesIndiabullsKotak SecuritiesReliance MoneyICICI SecuritiesAngel BrokingSMC Global Sec.

6 Do you invest with any of these?If YES

If NO With whom?

7 Are you satisfied with your present service provider?

YESNO

Rank the following Corporate Stock Brokers on a scale of 1 to 8(1 being the best and 8 being the worst) CRITERIA Brand recall Services Economy Visibility

CORPORATESTOCK BROKERS (brokerage)

ICICI SECURITIES LTD Direct

HDFC Securities

India Bulls

Kotak Securities

Reliance Money

SMC Global Sec.

Chart10.80.10.40.60.2

Series 1Avenues of Investment

Sheet1Series 1Series 2Series 3Equity0.82.42Commodity0.14.42Mutual Fund0.41.83IPO0.62.85Derivative0.2To resize chart data range, drag lower right corner of range.

Chart10.60.4

Investors/Traders

Sheet1Investors/TradersSeries 2Series 3Investors0.62.42Traders0.44.42Category 33.51.83Category 44.52.85To resize chart data range, drag lower right corner of range.

Chart10.450.55

Series 1PERCENTAGE OF ONLINE AND OFFLINE INVESTOR

Sheet1Series 1Series 2Series 3Online0.452.42Offline0.554.42Category 33.51.83Category 44.52.85To resize chart data range, drag lower right corner of range.

Chart10.9

Series 1AWARENESS ABOUT ICICI SECURITIES

Sheet1Series 1Series 2Series 30.92.42Category 22.54.42Category 33.51.83Category 44.52.85To resize chart data range, drag lower right corner of range.

Chart10.10.050.050.60.050.15

Series 1BRAND RECALL RANKING

Sheet1Series 1Series 2Series 3India Bulls0.12.42Kotak Securities0.054.42Reliance Money0.051.83ICICI Securities0.62.85SMC Global0.05HDFC Securities0.15To resize chart data range, drag lower right corner of range.