SUMMER TRAINING PROJECT REPORT ON

STUDY OF PORTFOLIO MANAGEMENT

AT

AMRAPALI AADYA TRADING AND INVESTMENT PVT. LTD.

Submitted in partial fulfillment of the requirement

for the award of the degree of

Bachelor of Business Administration (BBA)

Submitted by:

SARTHAK THUKRAL

Roll no.:- 00321201713

BBA 5TH SEM. (2013-2016)

MAHARAJA SURAJMAL INSTITUTe(GURU GOBIND SINGH INDRAPRASTHA UNIVERSITY

Sector - 16C Dwarka, Delhi – 110075)

CERTIFICATE

This is to certify that the Summer Training Project titled “Study of Portfolio Management at

Amrapali Aadya Trading & Pvt. Ltd.” is an academic work done by Sarthak Thukral Roll No.

(00321201713) submitted in the partial fulfillment of the requirement for the award of the degree of

“Bachelor of Business Administration” from “Maharaja Surajmal Institute” is an authentic work

carried out by him under my guidance. The matter embodied in this project work has not been

submitted earlier for the award of any degree to the best of my knowledge and belief.

Date:

Dr. Abheyendra Singh

Maharaja Surajmal Institue

ACKNOWLEDGEMENT

I would like to take this opportunity to express my gratitude towards all the people who have

in various ways, helped in the successful completion of my project.

I must convey my gratitude to Mr. Anshul Aggarwal (National head) AMRAPALI AADYA

TRADING AND INVESTMENT PVT. LTD. I would like to thank my mentor in Amrapali

Aadya, Mr. Ankit Jain (Sr. Vice President) for giving me the constant source of inspiration

and help in preparing the project, personally correcting my work and providing

encouragement throughout the project.

I would also like to thank Dr. Abheyendra Singh for all the help and project guidance

extended to me by him in every stage during the project. His inspiring suggestions and timely

guidance enabled me to perceive the various aspects of the project in a new light.

SARTHAK THUKRAL

0032120173

2013-2016

TABLE OF CONTENTS

CHAPTER 1: INTRODUCTION 1-14

INTRODUCTION TO STOCK EXCHANGE 2-9

OBJECTIVE 10-11

RESEACH METHODOLOGY 12-13

LIMITATIONS 14

CHAPTER 2: PROFILE OF THE

ORGANISATION 15-48

CHAPTER 3: ANALYSIS &

INTERPRETATION 49-60

CHAPTER 4: CONCLUSIONS &

SUGGESTIONS 61-63

BIBLIOGRAPHY

QUESTIONNAIRES

CHAPTER 1

INTRODUCTION

INTRODUCTION TO STOCK EXCHANGE

1

The emergence of stock market can be traced back to 1830. In Bombay, business passed in

the shares of banks like the commercial bank, the chartered mercantile bank, the chartered

bank, the oriental bank and the old bank of Bombay and shares of cotton presses. In Calcutta,

Englishman reported the quotations of 4%, 5%, and 6% loans of East India Company as well

as the shares of the bank of Bengal in 1836. This list was a further broadened in 1839 when

the Calcutta newspaper printed the quotations of banks like union bank and Agra bank. It also

quoted the prices of business ventures like the Bengal bonded warehouse, the Docking

Company and the storm tug company.

Between 1840 and 1850, only half a dozen brokers existed for the limited business. But

during the share mania of 1860-65, the number of brokers increased considerably. By 1860,

the number of brokers was about 60 and during the exciting period of the American Civil war,

their number increased to about 200 to 250. The end of American Civil war brought

disillusionment and many

Failures and the brokers decreased in number and prosperity. It was in those troublesome

times between 1868 and 1875 that brokers organized an informal association and finally as

recited in the Indenture constituting the “Articles of Association of the Exchange”.

On or about 9th day of July,1875, a few native brokers doing brokerage business in shares and

stocks resolved upon forming in Bombay an association for protecting the character, status

and interest of native share and stock brokers and providing a hall or building for the use of

the Members of such association.

As a meeting held in the broker’ Hall on the 5th day of February, 1887, it was resolved to

execute a formal deal of association and to constitute the first managing committee and to

appoint the first trustees. Accordingly, the Articles of Association of the Exchange and the

Stock Exchange was formally established in Bombay on 3rd day of December, 1887. The

Association is now known as “The Stock Exchange”.

The entrance fee for new member was Re.1 and there were 318 members on the list, when the

exchange was constituted. The numbers of members increased to 333 in 1896, 362 in 1916and

2

478 in 1920 and the entrance fee was raised to Rs.5 in 1877, Rs.1000 in 1896, Rs.2500 in

1916 and Rs. 48,000 in 1920. At present there are 23 recognized stock exchanges with

about 6000 stockbrokers. Organization structure of stock exchange varies.

14 stock exchanges are organized as public limited companies, 6 as companies limited by

guarantee and 3 are non-profit voluntary organization. Of the total of 23, only 9 stock

exchanges have been permanent recognition. Others have to seek recognition on annual basis.

These exchange do not work of its own, rather, these are run by some persons and with the

help of some persons and institution. All these are down as functionaries on stock exchange.

These are:

i. Stockbrokers

ii. Sub-broker

iii. Market makers

iv. Portfolio consultants etc.

1. Stock brokers : Stock brokers are the members of stock exchanges. These are the

persons who buy, sell or deal insecurities. A certificate of registration from SEBI is

mandatory to act as a broker. SEBI can impose certain conditions while granting the

certificate of registrations. It’s obligatory for the person to abide by the rules,

regulations and the buy-law. Stock brokers are commission broker, floor broker,

arbitrageur etc.

2. Sub-broker: A sub-broker acts as agent of stock broker. He is not a member of a

stock exchange. He assists the investors in buying, selling or dealing in securities

through stockbroker. The broker and sub-broker should enter into an agreement in

which obligations of both should be specified. Sub-broker must be registered SEBI for

a dealing in securities. For getting registered with SEBI, he must fulfill certain rules

and regulation.

3. Market Makers : Market maker is a designated specialist in the specified securities.

They make both bid and offer at the same time. A market maker has to abide by bye-

3

laws, rules regulations of the concerned stock exchange. He is exempt from the

margin requirements. As per the listing requirements, a company where the paid-up

capital is Rs. 3 Crore but not more than Rs. 5 Crore and having a commercial

operation for less than 2 years should appoint a market maker at the time of issue of

securities.

4. Portfolio Consultants : A combination of securities such as stocks, bonds and money

market instruments is collectively called as portfolio. Whereas the portfolio

consultants are the persons, firms or companies who advise, direct or undertake the

management or administration of securities or funds on behalf of their clients.

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 like location constrains, busy phone lines, miss communication etc start growing in

stock broker offices. Information technology (Stock Market Software) helps stock brokers in

solving these problems with Online Stock Trading.

Online Stock Market Trading is an internet based stock trading facility. Investor can trade

shares through a website without any manual intervention from Stock Broker.

4

Various Stock

Exchanges in India

5

At present there are 23 stock exchange recognized under the securities contract (regulation),

Act 1956. Those are………..

1. .Ahmadabad Stock Exchange Association Ltd.

2. Bangalore Stock Exchange (BSE)

6

3. Bhubaneswar Stock Exchange Association (BSEA)

4. Bombay Stock Exchange (BSEA

5. Calcutta Stock Exchange (CSE)

6. Cochin Stock Exchange Ltd (CSE)

7. Coimbatore Stock Exchange (CSX)

8. Delhi Stock Exchange Association (DSE)

9. Guwahati Stock Exchange Ltd (GSE)

10. Hyderabad Stock Exchange Ltd.

11. Jaipur Stock Exchange Ltd (JSE)

12. Ludhiana Stock Exchange Association Ltd

13. Madras Stock Exchange

14. Madhya Pradesh Stock Exchange Ltd.

15. Magadh Stock Exchange Limited

16. Mangalore Stock Exchange

17. Meerut Stock Exchange Ltd.

7

18. National Stock Exchange of India (NSE)

19. OTC Exchange of India

20. Pune Stock Exchange Ltd.

Advantages of Stocks Trading

Better returns : Actively trading stocks can produce better overall returns than simply

buying and holding.

Huge Choice : There are thousands of stocks listed on markets around the world.

There is always a stock whose price is moving - it’s just a matter of finding them.

Familiarity : The most traded stocks are in the largest companies that most of us have

heard of and understand - Microsoft, IBM, and Cisco etc.

Disadvantages of Stocks Trading

Leverage : With a margined account the maximum amount of leverage available for

stock trading is usually 4:1. Meaning a $25,000 could trade up to $100,000 of stock.

This is pretty low compared to Forex trading or futures trading.

Pattern Day Trader Rules : It requires at least $25,000 to be held in a trading

account if the trader completes more than 4 trades in a 5 day period. No such rule

applies to Forex trading or futures trading.

Uptick Rule on Short Selling : A trader must wait until a stock price ticks up before

they can short sell it. Again there are no such rules in Forex trading or futures trading

where going short are as easy as going long.

8

Need to Borrow Stock to Short : Stocks are physical commodities and if a trader

wishes to go short then the broker must have arrangements in place to borrow that

stock from a shareholder until the trader closes their position. This limits the

opportunities available for short selling. Contrast this to futures trading where selling

is as easy as buying.

Costs : Although online trading costs for stock trading are low they still add

Considerably to the costs of day trading. Online futures trading are about 1/4 of the

cost for the equivalent value. In the UK 0.5% stamp duty is also levied on all share

purchases making trading virtually impossible, hence the popularity of spread betting.

Objective of the Project

9

Each research study has its own specific purpose. It is like to discover to Question through the

application of scientific procedure. But the main aim of our research to find out the truth that

is hidden and which has not been discovered as yet. Our research study has two objectives:-

OBJECTIVES

To know the concept of Portfolio Management.

To know about the schemes offered by the different insurance companies, new IPO’s,

Mutual Funds.

To know in depth about Insurance, Mutual Funds, Stock, Bonds etc.

To know about the awareness towards stock brokers and share market.

To study about the competitive position of Amrapali Aadya in Competitive Market.

To study about the effectiveness & efficiency of Amrapali Aadya in relation to its

competitors.

To study about whether people are satisfied with Amrapali Aadya’s Services &

Management System or not.

To study about the difficulties faced by persons while Trading in Amrapali Aadya.

To study about the need of improvement in existing Trading system.

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Scope of the Study

The study of the Portfolio Management Services is helpful in the following areas:

In today's complex financial environment, investors have unique needs which are

derived from their risk appetite and financial goals. But regardless of this, every

investor seeks to maximize his returns on investments without capital erosion.

Portfolio Management Services (PMS) recognize this, and manage the investments

professionally to achieve specific investment objectives, and not to forget, relieving

the investors from the day to day hassles which investment require.

It is offers professional management of equity investment of the investor with an aim

to deliver consistent return with an eye on risk.

Identify the key Stock in each portfolio.

To look out for new prospective customers who are willing to invest in PMS.

To find out the Amrapali Aadya’s PMS services effectiveness in the current situation.

It also covers the scenario of the Investment Philosophy of a Fund Manager.

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RESEACH METHODOLOGY

RESEARCH DESISGN OF THE STUDY

This report is based on primary as well secondary data, however primary data collection was

given more importance since it is overhearing factor in attitude studies. One of the most

important users of research methodology is that it helps in identifying the problem, collecting,

analyzing the required information data and providing an alternative solution to the

problem .It also helps in collecting the vital information that is required by the top

management to assist them for the better decision making both day to day decision and critical

ones.

The study consists of analysis about Investors Perception about the Portfolio Management

Services offered by Amrapali Aadya. For the purpose of the study, 100 customers were

picked up at random and their views solicited on different parameters.

The methodology adopted includes:

Questionnaire

Random sample survey of customers

Discussions with the concerned

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Data collection & Sample Design

Sources of Data

Primary data : Questionnaire

Secondary data : Published materials of Amrapali Aadya Limited. Such as

periodicals, journals, newspapers, and website.

Sampling Plan

Sampling : Since Amrapali Aadya has many segments I selected Portfolio

Management Services (PMS) segment as per my profile to do market research. 100%

coverage was difficult within the limited period of time. Hence sampling survey

method was adopted for the purpose of the study.

Population : (Universe) customers & non consumers of Amrapali Aadya.

Sampling size: A sample of hundred was chosen for the purpose of the study. Sample

consisted of Investor as based on their Income and Profession as well as Educational

Background.

Sampling Methods: Probability sampling requires complete knowledge about all

sampling units in the universe. Due to time constraint non-probability sampling was

chosen for the study.

Sampling procedure: From large number of customers & non consumers sample lot

were randomly picked up by me.

13

LIMITATION OF THE PROJECT

1. As only Delhi was dealt in the survey so it does not represent the view of the total

Indian market.

2. The sample size was restricted with hundred respondents.

3. There was lack of time on the part of respondents.

4. The survey was carried through questionnaire and the questions were based on

perception.

5. There may be biasness in information by market participant.

6. Complete data was not available due to company privacy and secrecy.

7. Some people were not willing to disclose the investment profile.

14

CHAPTER-2

PROFILE

OF THE

ORGANISATION

15

INTRODUCTION TO AMRAPALI AADYA

Amrapali Aadya Trading And Investment Private Limited is a private company registered on

23/10/1998. The company has an authorized capital of Rs. 10, 00, 00,000 and paid-up capital

of Rs.6, 38, 33,500.00. Its registered office is situated at 13 Vaishali, Lala Jaagatnarajn Marg,

Pitampura, New Delhi, and Delhi-110034.

Amrapali Aadya is a highly committed and dependable financial organization that strives to

deliver the best of investment related services. Amrapali Aadya dares to do what other

financial and stock broking houses feel impossible in terms of client satisfaction. They are

new but confident name in financial market. The company is always aggressive to adopt the

latest technologies for its operations. Amrapali Aadya is using some of the best brains in in

trading and some of the best software and hardware systems to give its clients maximum

profit. They are incorporated in 2004, having membership of National Stock Exchange (NSE).

They offer a large variety of investment avenues to cater to the needs of different classes of

investors by our physical presence in different parts of India. Amrapali Aadya offers its

customers a wide range of equity related services including trade execution on BSE, NSE,

Derivatives, depository services, online trading, investment advice, internet trading, electronic

contract notes, risk management and surveillance, online banking gateway, online back office

integration, depository services, end to end trade solutions, exclusive services for HNI and

NRI clients, mutual fund, IPO’s, insurance etc.

The content-rich and research oriented portal has stood out among its contemporaries because

of its steadfast dedication to offering customers best-of-breed technology and superior market

information. The objective has been to let customers make informed decisions and to simplify

the process of investing in stocks

Mission of the Amrapali Aadya is

16

To educate and empower the individual investor to make better investment decisions

through

QUALITY ADVICE

INNOVATIVE PRODUCTS

SUPERIOR SERVICES

PROFILE OF THE COMPANY

Name of the company: Amrapali Aadya Trading And Investment Pvt. Ltd.

Headquarter: 13 Vaishali, Lala Jaagatnarajn Marg, Pitampura, New Delhi,

Delhi-11034.

Incorporation Date: 23/10/1998

Registration Number: 096805

Company Type: Private

Listing Type: Unlisted

Industry Category: Finance

Company Nature: Company Limited by Shares

Company Sub Category: Indian Non-Government Company

Registering Authority: Registrar of Company-Delhi

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Authorized Capital: Rs.10, 00, 00,000.00

Paid-Up Capital: Rs.6, 38, 33,500.00

Services: Depository Services, Online Services and

Technical Research.

Number of Employees: Over 5500

Revenue: Data Not Available

Website: www.amrapaliaadya.in

Slogan: Your Guide to Investment.

VisionTo be the best retail brokering Brand in the retail business of stock market.

MissionTo educate and empower the individual investor to make better investment

Decisions through quality advice and superior service.

MANAGEMENT TEAM OF AMRAPALI AADYA

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DIN/DPIN/PAN Director Name Appointment Date Designation

01938597Abinash Kumar

Sudhanshu21/12/2013 Director

00752672Sanjeeva Kumar

Sinha21/09/2011 Director

00445013 Narayanjee Thakur 12/06/2013 Director

CYBPK8555M Geetanjali Kumari 01/04/2015 Secretary

BENEFITS FROM AMRAPALI AADYA LIMITED

Free Depository A/c

19

Instant Cash Transfer

Multiple Bank Option.

Secure Order by Voice Tool Dial-n-Trade.

Automated Portfolio to keep track of the value of your actual purchases.

24x7 Voice Tool access to your trading account.

Personalized Price and Account Alerts delivered instantly to your Mobile Phone & E-

mail address.

Special Personal Inbox for order and trade confirmations.

Enjoy Automated Portfolio.

Buy or sell even single share

Anytime Ordering.

PRODUCT AND SERVICES OFFERD BY AMRAPALI AADYA

1- Equity Trading Platform (Online/Offline).

20

2- Commodities Trading Platform (Online/Offline).

3- Portfolio Management Service.

4- Mutual Fund Advisory and Distribution.

5- Insurance Distribution.

6-Forex

Amrapali Aadya’s Products

21

CLASSIC ACCOUNT

This is a User Friendly Product which allows the client to trade through website

www.amrapaliaadya.in and is suitable for the retail investors who is risk-averse and hence

prefers to invest in stocks or who does not trade too frequently.

Features Online trading account for investing in Equity and Derivatives via

www.amrapaliaadya.in

Live Terminal and Single terminal for NSE Cash, NSE, and F&O & BSE.

Integration of On-line trading, Saving Bank and Demat Account.

Instant cash transfer facility against purchase & sale of shares.

Competitive transaction charges.

Instant order and trade confirmation by E-mail.

Streaming Quotes (Cash & Derivatives).

Personalized market watch.

Single screen interface for Cash and derivatives and more.

Provision to enter price trigger and view the same online in market watch.

SPEEDTRADESPEEDTRADE is an internet-based software application that enables you to buy and sell in

an instant. It is ideal for active traders and jobbers who transact frequently during day’s

session to capitalize on intra-day price movement.

Features Instant order Execution and Confirmation.

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Single screen trading terminal for NSE Cash, NSE F&O& BSE.

Technical Studies.

Multiple Charting.

Real-time streaming quotes, tic-by-tic charts.

Market summary (Cost traded scrip, highest clue etc.)

Hot keys similar to broker’s terminal.

Alerts and reminders.

Back-up facility to place trades on Direct Phone lines.

Live market debts.

DIAL-N-TRADEAlong with enabling access for trade online, the CLASSIC and SPEEDTRADE ACCOUNT

also gives Dial-n-trade services. With this service, one can dial Amrapali Aadya’s dedicated

phone line 011-47060600. Beside this, Relationship Managers are always available on Office

Phone and Mobile to resolve customer queries.

IPO ON-LINECustomers can apply to all the forthcoming IPOs online. This is quite hassle-free, paperless

and time saving. Simply allocate fund to IPO Account, Apply for the IPO and Sit Back &

Relax.

MUTUAL FUND ONLINEInvestors can apply to Mutual Funds of Reliance, Franklin Templeton Investments, ICICI

Prudential, SBI, Birla, Sundaram, HDFC, DSP Merrill Lynch, PRINCIPAL and TATA with

Amrapali Aadya.

HOW TO OPEN AN ACCOUNT WITH AMRAPALI AADYA?

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For online trading with Amrapali Aadya, investor has to open an account. Following are

The ways to open an account with Amrapali Aadya:

One need to call them at phone number provided below and asks that he want

To open an account with them.

A. One can call on the Number: 011-47060600 or email on www.amrapaliaadya.in to speak

to a Customer Service executive

B. One can visit any one of Amrapali Aadya Limited’s nearest branches. Amrapali Aadya has

a huge network all over India (640 centers in 280 cities). One can also log on to

“http://amrapaliaadya.in/Locateus.aspx” link to find out the nearest branch.

One can send them an email at info@amrapaliaadya.in to know about their

Products and services.

One can also visit the site www.amrapaliaadya.in and click on the option “Open an

Account” to fill a small query form which will ask the individual to give details

regarding his name, city he lives in, his email address, phone number, pin code of the

city, his nearest Amrapali Aadya Ltd. shop and his preferences regarding the type of

account he wants.

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DOCUMENTS REQUIRED FOR ACCOUNT OPENINGApart from two passport size photographs, one needs to provide with the following

documents in order to open an account with Amrapali Aadya Limited.:

Photocopy of the clients’ PAN Card which should be duly attached

Photo copy of any of the following documents duly attached which will serve as

Correspondence address proof:

a. Passport (valid)

b. Voter’s ID CARD

c. Ration Card

d. Driving License (valid)

e. Electricity Bill (should be latest and should be in the name of the client)

f. Telephone Bill (should be latest and should be in the name of the client)

g. Flat Maintenance Bill (should be latest and should be in the name of the

Client)

h. Insurance Policy (should be latest and should be in the name of the client)

i. Lease or Rent Agreement.

j. Saving Bank Statement** (should be latest)

Two cheques drawn in favour of Sharkhan Limited, one for the Account Opening

Fees and the other for the Margin Money (the minimum margin money is Rs. 5000).

A cancelled cheque should be given by the client if he provides Saving Bank

Statement as a proof for correspondence address.

NOTE: Only Saving Bank Account cheques are accepted for the purpose of

Opening an Account

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SWOT ANALYSIS OF AMRAPALI AADYA

1. STRENGTHS:

Best Technological Tools

Expert Research Team

User friendly website

2. WEAKNESSES:

Provide very low leverage to customer

Insufficient advertisement policy

No access to the rural market

3. OPPORTUNITIES:

Huge market

Amrapali Aadya is having good customer relation strategy so that

it can create good opportunity to create goodwill and capture the

market.

Growing IPO create opportunity to capture the new market.

4. THREATS:

High volatility of the share market.

Stiff competition

Government policy/ Restrictions

26

PMS PORTFOLIO MANGEMNT SERVICES (PMS)

Portfolio (finance) means a collection of investments held by an institution or a private

individual. Holding a portfolio is often part of an investment and risk-limiting strategy called

diversification. By owning several assets, certain types of risk (in particular specific risk) can

be reduced. There are also portfolios which are aimed at taking high risks – these are called

concentrated portfolios.

Investment management is the professional management of various securities (shares, bonds

etc) and other assets (e.g. real estate), to meet specified investment goals for the benefit of the

investors. Investors may be institutions (insurance companies, pension funds, corporations

etc.) or private investors (both directly via investment contracts and more commonly via

collective investment schemes e.g. mutual funds).

The term asset management is often used to refer to the investment management of collective

investments, whilst the more generic fund management may refer to all forms of institutional

investment as well as investment management for private investors. Investment managers

who specialize in advisory or discretionary management on behalf of (normally wealthy)

private investors may often refer to their services as wealth management or portfolio

management often within the context of so-called "private banking

27

NEED OF PMS

As in the current scenario the effectiveness of PMS is required. As the PMS gives investors

periodically review their asset allocation across different assets as the portfolio can get

skewed over a period of time. This can be largely due to appreciation / depreciation in the

value of the investments.

As the financial goals are diverse, the investment choices also need to be different to meet

those needs. No single investment is likely to meet all the needs, so one should keep some

money in bank deposits and / liquid funds to meet any urgent need for cash and keep the

balance in other investment products/ schemes that would maximize the return and minimize

the risk. Investment allocation can also change depending on one’s risk-return profile.

OBJECTIVE OF PMS

There are the following objective which is fulfilled by Portfolio Management Services.

1. Safety of Fund: The investment should be preserved, not be lost, and should remain in the

returnable position in cash or kind.

2. Marketability: The investment made in securities should be marketable that means, the

securities must be listed and traded in stock exchange so as to avoid difficulty in their

encashment.

3. Liquidity: The portfolio must consist of such securities, which could be en-cashed without

any difficulty or involvement of time to meet urgent need for funds. Marketability ensures

liquidity to the portfolio.

4. Reasonable Return: The investment should earn a reasonable return upto keep the

declining value of money and be compatible with opportunity cost of the money in terms

of current income in the form of interest or dividend.

28

5. Appreciation in Capital: The money invested in portfolio should grow and result into

capital gains.

6. Tax planning : Efficient portfolio management is concerned with composite tax planning

covering income tax, capital gain tax, wealth tax and gift tax.

7. Minimize risk: Risk avoidance and minimization of risk are important objective of

portfolio management. Portfolio managers achieve these objectives by effective

investment planning and periodical review of market, situation and economic environment

affecting the financial market.

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PORTFOLIO CONSTRUCTION

The Portfolio Construction of Rational investors wish to maximize the returns on their funds

for a given level of risk. All investments possess varying degrees of risk. Returns come in the

form of income, such as interest or dividends, or through growth in capital values (i.e. capital

gains).

The portfolio construction process can be broadly characterized as comprising the following

steps:

1. Setting Objectives .

The first step in building a portfolio is to determine the main objectives of the fund given the

constraints (i.e. tax and liquidity requirements) that may apply. Each investor has different

objectives, time horizons and attitude towards risk. Pension funds have long-term obligations

and, as a result, invest for the long term. Their objective may be to maximize total returns in

excess of the inflation rate. A charity might wish to generate the highest level of income

whilst maintaining the value of its capital received from bequests. An individual may have

certain liabilities and wish to match them at a future date. Assessing a client’s risk tolerance

can be difficult. The concepts of efficient portfolios and diversification must also be

considered when setting up the investment objectives.

2. Defining Policy .

Once the objectives have been set, a suitable investment policy must be established. The

standard procedure is for the money manager to ask clients to select their preferred mix of

assets, for example equities and bonds, to provide an idea of the normal mix desired. Clients

are then asked to specify limits or maximum and minimum amounts they will allow to be

invested in the different assets available. The main asset classes are cash, equities, gilts/bonds

and other debt instruments, derivatives, property and overseas assets. Alternative investments,

30

such as private equity, are also growing in popularity, and will be discussed in a later chapter.

Attaining the optimal asset mix over time is one of the key factors of successful investing.

3. Applying Portfolio Strategy :

At either end of the portfolio management spectrum of strategies are active and passive

strategies. An active strategy involves predicting trends and changing expectations about the

likely future performance of the various asset classes and actively dealing in and out of

investments to seek a better performance. For example, if the manager expects interest rates to

rise, bond prices are likely to fall and so bonds should be sold, unless this expectation is

already factored into bond prices. At this stage, the active fund manager should also

determine the style of the portfolio. For example, will the fund invest primarily in companies

with large market capitalizations, in shares of companies expected to generate high growth

rates, or in companies whose valuations are low? A passive strategy usually involves buying

securities to match a preselected market index. Alternatively, a portfolio can be set up to

match the investor’s choice of tailor-made index. Passive strategies rely on diversification to

reduce risk. Out performance versus the chosen index is not expected. This strategy requires

minimum input from the portfolio manager. In practice, many active funds are managed

somewhere between the active and passive extremes, the core holdings of the fund being

passively managed and the balance being actively managed.

4. Asset Selections :

Once the strategy is decided, the fund manager must select individual assets in which to

invest. Usually a systematic procedure known as an investment process is established, which

sets guidelines or criteria for asset selection. Active strategies require that the fund managers

apply analytical skills and judgment for asset selection in order to identify undervalued assets

and to try to generate superior performance.

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5. Performance Assessments:

In order to assess the success of the fund manager, the performance of the fund is periodically

measured against a pre-agreed benchmark – perhaps a suitable stock exchange index or

against a group of similar portfolios (peer group comparison).The portfolio construction

process is continuously iterative, reflecting changes internally and externally. For example,

expected movements in exchange rates may make overseas investment more attractive,

leading to changes in asset allocation. Or, if many large-scale investors simultaneously decide

to switch from passive to more active strategies, pressure will be put on the fund managers to

offer more active funds. Poor performance of a fund may lead to modifications in individual

asset holdings or, as an extreme measure; the manager of the fund may be changed altogether.

Risk and Risk Aversion

Portfolio theory also assumes that investors are basically risk adverse, meaning that, given a

choice between two assets with equal rates of return they will select the asset with lower level

of risk.

For example, they purchased various type of insurance including life insurance, Health

insurance and car insurance. The Combination of risk preference and risk aversion can be

explained by an attitude toward risk that depends on the amount of money involved.

A discussion of portfolio or fund management must include some thought given to the

concept of risk. Any portfolio that is being developed will have certain risk constraints

specified in the fund rules, very often to cater to a particular segment of investor who

possesses a particular level of risk appetite. It is, therefore, important to spend some time

discussing the basic theories of quantifying the level of risk in an investment, and to attempt

to explain the way in which market values of investments are determined

32

Definition of Risk

Although there is a difference in the specific definitions of risk and uncertainty, for our

purpose and in most financial literature the two terms are used interchangeably. In fact, one

way to define risk is the uncertainty of future outcomes. An alternative definition might be

the probability of an adverse outcome.

Composite risks involve the different risk as explained below:-

(1) Interest Rate Risk:

It occurs due to variability cause in return by changes in level of interest rate. In long runs all

interest rate move up or downwards. These changes affect the value of security

RBI, in India, is the monitoring authority which effectalises the change in interest rate. Any

upward revision in interest rate affects fixed income security, which carry old lower rate of

interest and thus declining market value. Thus it establishes an inverse relationship in the

prize of security.

TYPES RISK EXTENTCash equivalent Less vulnerable to interest rate risk

Long term Bond More vulnerable to interest rate risk.

33

(2) Purchasing Power Risk:

It is known as inflation risk also. This risk emanates from the very fact that inflation affects

the purchasing power adversely. Purchasing power risk is more in inflationary times in bonds

and fixed income securities. It is desirable to invest in such securities during deflationary

period or a period of decelerating inflation. Purchasing power risk is less in flexible income

securities like equity shares or common stuffs where rise in dividend income offset increase in

the rate of inflation and provide advantage of capital gains.

(3) Business risk:

Business risk emanates from sale and purchase of securities affected by business cycles,

technological change etc. Business cycle affects all the type of securities viz. there is cheerful

movement in boom due to bullish trend in stock prizes where as bearish trend in depression

brings downfall in the prizes of all types of securities. Flexible income securities are nearly

affected than fix rate securities during depression due to decline n the market prize.

(4) Financial risk:

Financial risk emanates from the changes in the capital structure of the company. It is also

known as leveraged risk and expressed in term of debt equity ratio. Excess of debts against

equity in the capital structure indicates the company to be highly geared or highly levered.

Although leveraged company’s earnings per share (EPS) are more but dependence on

borrowing exposes it to the risk of winding up. For, its inability to the honor its commitments

towards the creditors are most important.

Here it is imperative to express the relationship between risk and return, which is depicted

graphically below

34

Maximize Returns, Minimize Risks

35

TECHNIQUES OF PORTFOLIO MANAGEMENT

Various types of portfolio require different techniques to be adopted to achieve the desired

objectives. Some of the techniques followed in India by portfolio managers are summarized

below.

(1). Equity portfolio: Equity portfolio is affected by internal and external factors.

(a) Internal factors : Pertain to the inner working of the particular company of which

Equity shares are held. These factors generally include:

(1) Market value of shares

(2) Book value of shares

(3) Price earnings ratio (P/E ratio)

(4) Dividend payout ratio

(b) External factors:

(1) Government policies

(2) Norms prescribed by institutions

(3) Business environment

(4) Trade cycles

36

(2). Equity stock analysis:

The basic objective behind the analysis is to determine the probable future – value of the

shares of the concerned company. It is carried out primarily fewer than two ways.

(a) Earnings per share

(b) Price earnings ratio

(a) Trend of earning :

A higher price-earnings ratio discount expected profit growth. Conversely, a

downward trend in earning results in a low price-earnings ratio to discount anticipated

decrease in profits, price and dividend. Rising EPS causes appreciation in price of

shares, which benefits investors in lower tax brackets? Such investors have not pay

tax or to give lower rate tax on capital gains.

Many institutional investor like stability and growth and support high EPS.

Growth of EPS is diluted when a company finances internally its expansion program

and offers new stock.

EPS increase rapidly and result in higher P/E ratio when a company finances its

expansion program from internal sources and borrowings without offering new stock.

(b) Quality of reported earnings :

Quality of reported earnings affects P/E ratio. The factors that affect the quality of reported

earnings are as under:

Depreciation allowances:

Larger (Non Cash) deduction for depreciation provides more funds to company to finance

profitable expansion schemes internally. This builds up future earning power of company.

37

Research and development outlets :

There is higher P/E ratio for a company, which carries R&D programs. R&D enhances profit

earning strength of the company through increased future sales.

Inventory and other non-recurring type of profit :

Low cost inventory may be sold at higher price due to inflationary conditions among profit

but such profit may not always occur and hence low P/E ratio.

(c) Dividend policy :

Dividend policy is significant in affecting P/E ratio. With higher dividend ratio, equity price

goes up and thus raises P/E ratio. Dividend rates are raised to push in share prices up.

Dividend cover is calculated to find out the time the dividend is protected, In terms of

earnings. It is calculated as under:

Dividend Cover = EPS / Dividend per Share

(d) Investors demand : Demand from institutional investors for equity also enhances

The P/E ratio.

38

TYPES OF PORTFOLIOS

The different types of Portfolio which is carried by any Fund Manager to maximize profit and

minimize losses are different as per their objectives .They are as follows.

1. Aggressive Portfolio

Objective: Growth. This strategy might be appropriate for investors who seek High growth

and who can tolerate wide fluctuations in market values, over the short term.

2. Growth Portfolio

Objective: Growth. This strategy might be appropriate for investors who have a preference for

growth and who can withstand significant fluctuations in market value.

39

3. Balanced Portfolio

Objective: Capital appreciation and income. This strategy might be appropriate for investors

who want the potential for capital appreciation and some growth, and who can with stand

moderate fluctuations in market values.

4. Conservative Portfolio

Objective: Income and capital appreciation. This strategy may be appropriate for investors

who want to preserve their capital and minimize fluctuations in market value.

40

Amrapali Aadya’s Portfolio Management Services

1. PRO PRIME

Product Approach

Investment will be keeping in mind 3 investment tenets.

1. Consistent, steady and sustainable returns.

2. Margin of Safety

3. Low Volatility

Product offering

Pro Prime is the ideal for investors looking at steady and superior with low and medium risk

appetite. The portfolio consists of a blend of quality blue chip and growth stocks ensuring a

balanced portfolio with relatively medium risk profile. The portfolio constitutes of relatively

large capitalization stocks, based on sector and themes which have medium to long term

growth potential.

Product Characteristics

Bottom up stock selection

In depth ,independent fundamental research

High quality companies with relatively large capitalization

41

Disciplined valuation approach applying multiple valuation measure.

Medium to long term vision, resulting in low portfolio turnover.

How to invest?

Minimum Investment : 5Lacs

Lock in : 6 months

Reporting: Access to website showing clients holding .Monthly reporting of portfolio

holding /transaction.

Charges: 2.5% pa AMC (Annual Maintenances Charges) fees charged every

quarter ,0.5% brokerage ,20% profit sharing after 15% hurdle is crossed chargeable at

the end of fiscal year.

AMRAPALI AADYA PROPRIME PERFORMANCE

DATE

TOTAL

BSE

MOVMENTS

NSE

MOVMENTS

NAV

RETURNS

BSE

RETURNS

NSE

RETURNS

30/06/2010 9,510,384.53 17,700.90 5312.50 1.8% 1.0% 1.2%

31/03/2010 9,341,971.87 17,527.77 5249.10 93.6% 80.5% 73.8%

31/03/2009 4,826,060.16 9,708.50 3020.95 -43.0% -37.9% -36.2%

31/03/2008 8,459,884.99 15,644.44 4734.50 15.8% 19.7% 23.9%

31/03/2007 7,305,890.21 13,072.10 3821.55 10.8% 15.9% 12.3%

31/03/2006 6,596,047.11 11,279.96 3402.55 75.5% 73.7% 67.1%

2. PRO ARBRITAGE

Product Approach

An opportunity lies in basis which is the difference between cash and future. Whenever basis

is high we buy the stocks and sell the future to lock in difference .The difference is bound to

be zero at expiry.

Cash –Future Arbitrage: The product intends to spot low risk opportunities which will yield

more than the normal low risk product .Whenever such opportunity is spotted stocks will be

bought and to lock in the basis, future will be sold .This position will be liquated in the expiry

42

or before that if the basis vanishes early .Similarly the scheme will move on from opportunity

to opportunity.

Product Characteristics

Low Risk: This is relatively low risk product which can be compared with liquid funds issued

by mutual funds.

High return: Compared with other low risk products, this products offers an indicative post

tax return of 8 to 10% plus.

Product Details

Minimum Investment:Rs.5 lacs

Lock in :6 months

Reporting: Fortnightly for portfolio Net worth, Monthly reporting pf portfolio holding

transaction.

Charges: 0.035% brokerage for future ,0.07% for delivery

3. PRO TECH

Pro-tech using the knowledge of technique analysis and the power of depravities markets to

identify trading opportunities in the market .The protech line of the product is designed

around various risk/reward/volatility profiles for the different kind of investment needs.

Product Approach

Better performance is possible from superior market timing and from picking stocks before

inflation points in their trading cycles .Linear return are possible from having hedged/ sell

market positions in downtrends .Absolute return are targeted by focusing on finding trading

opportunities & not out performance of an index.

Product offered

43

1. Nifty Thirty :

Nifty futures will be bought and sold on the basis of an automated trading system generated

calls to go long/short. The exposure will never exceed the value of portfolio i.e. no

leveraging; but allows us to be short /hedged in Nifty in falling market therefore allowing the

client to earn irrespective of the market direction.

2. Beta Portfolio :

Positional trading opportunities are identified in the future segment based on technical

analysis .Inflection points in the momentum cycles are identified to go long /short on

stock/index futures with 1-2 months time horizon .The idea is to generate the best possible

return in the medium term irrespective of the direction of the market without really leveraging

beyond the portfolio value. Risk protection is done based on stop losses on daily closing

prices.

3. Star Nifty:

Swing trading technique and Dow theory is used to identify short –term reversal levels for

Nifty futures and ride with trend both on the long and short side This return can be earned in

bull and bear market .Stop and reverse means to reverse ones position from long to short or

vice a versa at the reversal levels simultaneously .The exposure never exceeds value of

portfolio i.e. there is no leveraging.

4. Trailing Stops.

44

Momentum trading techniques are used to spot short –term momentum of 5-10 days in stocks

and stocks /index futures .Trailing stop loss method of risk management or profit protection is

used to lower the portfolio volatility and maximize return .Trading opportunities are exposed

both on the long side and the short side as the market demands to get the best of both upward

and downward trends.

Product Characteristics:

Using swing based index –trading systems stop and reverse .trend following and

momentum trading technique.

Nifty based products for low impact cost and low product volatility

Both long and short strategies to earn returns even in falling market.

Trading in future market to allow for active risk protection using trailing stop losses.

How to invest?

Minimum : Rs.5Lacs

Lock in: 6 months

Reporting: Fortnightly reporting of portfolio Net Worth, monthly reporting of

Portfolio Holding /Transaction.

Charges: 0% AMC (Annual Maintenance Charges), 0.05% brokerage for derivatives,

Protech Performance Report

PROTECH PERFORMANCE SUMMARY SINCE INCEPTION

INCEPTION 15-OCT-2009

BETA(NEW)

01-FEB-2006

NIFTY THIRFTY

15-OCT-2009

TRAILING STOPS

INCEPTION NAV 10.00 10.00 10.00

45

NAV as on 30/06/10 9.20 19.89 9.84

RETURNS (%) -8.00 98.90 -1.64

Nifty Thrifty:

How it works:

Our first product is based completely on a mathematical model with zero human intervention.

This product has come out of its fifth draw-down period (in 28 years of back testing) and the

net asset value (NAV) is taking off to new heights.

Beta portfolio:

BETA PORTFOLIO

Date NAV Sensex

03/08/2007 10.00 15138.40

30/06/2010 9.20 17700.90

Returns (%) -8.00 16.93

How it works:

Our product is based on positional trading with a long and short model investing in plain vanilla stock

futures. In this, we identify stocks with greater risk-reward ratios with a time horizon of 1 to 2 months,

based on the prevalent market situation.

46

NIFTY THRIFTY

Date NAV Sensex

01/02/2006 10.00 9859.26

30/06/2010 19.89 17700.90

Returns (%) 98.90 79.54

Trailing Stops:

TRAILING STOPS

NAV Sensex

20/10/2007 10.00 17559.98

30/06/2010 9.84 17700.90

Returns (%) -1.60 0.80

How it works:

The trading strategy is to buy short-term momentum over a time frame of 1 to 5 days and then

book small profits consistently.

4. ProTech Diversified

Product Approach

Aim – Absolute returns irrespective of market direction by long –short strategy applied on

basket of indexes and stocks

Disciplined trading approach with no human intervention based on back testing on indexes

and stocks

Invests in the following

Nifty Futures

Bank Nifty Futures

Stock Futures

Advantages of ProTech-Diversified

Non Toggle system

47

Exposure to investments will be constant even after gains

Helps in protecting the gains

Reinvesting in case of draw-downs helps in faster recovery

Non –leveraged product

Product Details

Minimum Investment : Indian Resident Rs 5 lakhs,

For NRI's - Rs 50 Lacks

Lock in: 6 months

Fees: AMC fees : 0%

Brokerage: 0.05% only

Profit Sharing: 20% profit sharing on booked profits on quarterly basis

Performance Sheet

Performance for the Month ended June 2010

NAV as on 01-June-2010 10.07

NAV as on 30-June-2010 9.86

RETURNS (%) -2.07

Performance Summary since Inception

As on 30 June 2010

48

INCEPTION NAV 10.00

NAV as on 30-June-2010 9.86

RETURNS (%) -1.35

CHAPTER-3

DATA ANALYSIS

AND

INTERPRETRATION49

DATA ANALYSIS AND INTERPRETRATION

1. Do you know about the Investment Option available?

YES; %AGE; 0.85000000000

0001; 85%

NO; %AGE; 0.15; 15%

Interpretation

50

As the above table shows the knowledge of Investor out of 100 respondent carried

throughout the Jaipur Area is only 85%.The remaining 15% take his/her residential

property as an investment. According to law purpose this is not an investment

because of it is not create any profit for the owner. The main problem is that in this

time from year 2008-2009 ,the recession and the Inflation make the investor think

before investing a even a Rs. 100.So ,it also create the problem for the Investor to

not take interest in Investment option.

2. What is the basic purpose of your Investments?

%AGE

51

Interpretation

As with the above analysis, it is found 75% people are interested in liquidity, returns

and tax benefits. And remaining 25% are interested in capital appreciations, risk

covering, and others. In the entire respondent it is common that this time everyone is

looking for minimizing the risk and maximizing their profit with the short time of

period.

As explaining them About the Portfolio Management Services of Amrapali Aadya,

they were quite interested in Protech Services.

3. From which option you will get the best returns?

Mutual Funds; PERCENATGE OF

RESPODENTS; 20%

Shares; PERCENATGE OF RESPODENTS; 22%

Commodities Mar-ket; PERCENATGE OF

RESPODENTS; 16%

Fixed Deposits; PERCENATGE OF

RESPODENTS; 18%

Bonds; PERCENATGE OF RESPODENTS; 8%

Property; PERCENATGE OF

RESPODENTS; 14%

Others; PERCENATGE OF RESPODENTS; 2%

PERCENATGE OF RESPODENTS

Interpretation

52

Most of the respondents say they will get more returns in Share Market. Since Share

Market is said to be the best place to invest to get more returns. The risk in the

investment is also high.

Similarly, the Investor are more Interested in Investing their money in Mutual Fund

Schemes as that is also very important financial product due to its nature of

minimizing risk and maximizing the profit. As the commodities market is doing well

from last few months so Investor also prefer to invest their money in Commodities

Market basically in GOLD nowadays.

Moreover, even who don’t want to take Risk they are looking for investing in Fixed

Deposit for long period of time.

4. “Investing in PMS is far safer than Investing in Mutual Fund”. Do you

agree?

Yes; %Age of Respodents;

76%

No; %Age of Respodents;

24%

53

Interpretation

In the above graphs it’s clear that 24% of respondent out of hundred feel that

investing their money in Mutual Fund Scheme are far safer than Investing in PMS.

This is because of lack of proper information about the Portfolio management

services. As the basis is same for the mutual fund and PMS but the investment

pattern is totally different from each other and which depends upon different risk

factor available in both the Financial Products.

5. How much you carry the expectation in Rise of your Income from

Investments?

Interpretation

54

The optimism is shown in the attitude of the respondents. The confidence was

appreciable with which they are looking forward to a rise in their investments. Major

part of the sample feels that the rise would be of around 15%. Only 8% of the

respondents were confident enough to expect a rise of upto 35%.

As all the respondents were considering the Risk factor also before filling the

questionnaire and they were asking about the performance report of all the PMS

services offered by Amrapali Aadya.

6. If you invested in Share Market, what has been your experience?

Satisfactory return received; %Age of Re-

spondents; 20%

Burned Fingers; %Age of Respondents; 34%

Unsatisfactory results; %Age of Respondents;

6%

No; %Age of Re-spondents; 40%

Interpretation

20% of the respondents have invested in Share market and received satisfactory

returns, 40% of the respondents have not at all invested in Share Market. Some of

the investors face problems due to less knowledge about the market. Some of the

55

respondents don’t have complete overview of the happenings and invest their money

in wrong shares which result in Loss. This is the reason most of the respondents

prefer Portfolio Management Services to trade now a days, which gives the Investor

the clear idea when is the right time to buy and right time to sell the shares which is

recommended by their Fund Manger.

7. How do you trade in Share Market?

% of Respodents; 100%

% of Respodents; 100%

% of Respodents; 100%

% of Respodents

% of Respodents

Interpretation

As we know that Share market is totally based on psychological parameters of

Investors, which changed as per the market condition, but at the same time the

56

around 45%investor trade on the basis of speculation and 31% depend upon

Investment option Bonds, Mutual Funds etc.

Moreover, the now a day’s Hedging is most common derivatives tools which is used

by the Investor to get more return from the Market ,this is mostly used in the

Commodities Market.

8. How do you manage your Portfolio?

Self ; %of Respodents; 0.57; 57%

Depends on the Company for Portfolio; %of Respo-

dents; 0.43; 43%

%of Respodents

Interpretation

About 57% of the respondents say they themselves manage their portfolio and 43%

of the respondents say they depend on the security company for portfolio

Management. 43% of the respondents prefer PMS of the company because they

57

don’t have to keep a close eye on their investment; they get all the information time

to time from their Fund Manager.

Moreover, talking about the Amrapali Aadya PMS services they are far satisfied with

the Protech and Prop rime Performance during last year. They are satisfied with the

quick and active services of Amrapali Aadya customer services where, they get the

updated knowledge about the scrip detail everyday from their Fund Manager.

9. Will you trade with Amrapali Aadya and why?

Services; %Age of Respodents;

0.22; 22%Investment Tips are good; %Age of Respodents;

0.15; 15%Brokerage; %Age of Re-

spodents; 0.28; 28%

Research; %Age of Respodents;

0.35; 35%

Interpretation

As the above research shows the reasons and the parameters on which investor lie

on Amrapali Aadya and they do the trade.

58

Among hundred respondents 35% respondents do the trade with the company due to

its research Report, 28% based on Brokerage Rate whereas 22 % are happy with its

Services.

Last but not the least, 15% respondents are depends upon the tips of Amrapali

Aadya which gives them idea where to invest and when to invest.

At the time of research what I found is that still Amrapali Aadya need to make the

clients more knowledge about their PMS product.

10. Which Portfolio Type you preferred?

Equity; %Age of Respodents; 45%

Debt; %Age of Respodents; 27%

Balanced; %Age of Respodents; 28%

Interpretation

59

The above analysis shows, in which portfolio the investor like to deal more in PMS.

As 45% investor likes to go for Equity Portfolio and 28% with Balanced Portfolio,

whereas around 27% investor like to, go for Debt Portfolio.

11. How was your experience about Portfolio Management services

(PMS) of Amrapali Aadya Limited?

Interpretation

60

In the above analysis it is clear that the Investor have the good and the bad

experience both with the Amrapali Aadya PMS services.

In this current scenario 52% of the Investor earned, whereas around 18% have to

suffer losses in the market. Similarly 30% of the Respondents are there in Breakeven

Point (BEP), where no loss and no profit.

CHAPTER-4

CONCLUSION

&61

SUGGESTIONS

CONCLUSION

On the basis of the study it is found that Amrapali Aadya is better services provider

than the other stock-brokers because of their timely research and personalized

advice on what stocks to buy and sell. Amrapali Aadya provides the facility of

relationship manager for encouragement and protection of the interest of the

investors. It also provides the information through the internet and mobile alerts that

what IPO’s are coming in the market and it also provides its research on the future

prospect of the IPO. We can conclude the following with above analysis.

Amrapali Aadya Ltd has better Portfolio Management services than Other

Companies

It keeps its process more transparent.

It gives more returns to its investors.

It charges are less than other portfolio Management Services

62

It provides daily updates about the stocks information.

Investors are looking for those investment options where they get maximum

returns with less returns.

Market is becoming complex & it means that the individual investor will not

have the time to play stock game on his own.

RECOMMENDATIONS & SUGGESTIONS

The company should also organize seminars and similar activities to enhance

the knowledge of prospective and existing customers, so that they feel more

comfortable while investing in the stock market.

Investors must feel safe about their money invested.

Investor’s accounts must be more transparent as compared to other

companies.

Amrapali Aadya must try to promote more of its Portfolio Management

Services through Advertisements.

Amrapali Aadya needs to improve more of its Customer Services.

63

64

BIBILOGRAPHY

WEBSITES

www.Amrapali Aadya.com

www.sebi.gov.in

www.moneycontrol.com

www.karvy.com

www.valueresarchonline.com

www.nseindia.com

www.bseindia.com

www.companywiki.in

Book Referred

Kothari, C.R., Research Methodology, Second Edition, New Delhi, New Age

International (p) Ltd Publishers, 2006.

Pandian, P., Security Analysis and Portfolio Management, Vikas Publishers,

2007.

Magazines & Journals

Value guide by Amrapali Aadya

Investors Eyes by Amrapali Aadya

Business world.

The economist

QUESTIONNAIRES

1. Do you know about the Investments Option available?

A) YES B) NO

2. What is the basic purpose of your Investments?

A) Liquidity B) Return C) Tax Benefits D) Risk Covering

E) Capital Appreciation F) Others

3. From which option you will get the best returns?

A) Mutual Funds B) Shares C) Commodities Market D) Bonds

E) Fixed Deposits F) Property G) Others

4. “Investing in PMS is far safer than Investing in Mutual Fund”. Do you agree?

A) Yes B) No

5. How much you carry the expectation in Rise of your Income from Investments?

A) Upto 15% B) 15-25% C) 25-35% D) More than 35%

6. If you invested in Share Market, what has been your experience?

A) Satisfactory Return B) Burned Finger C) Unsatisfactory Result D) No

7. How do you trade in Share Market?

A) Hedging B) Speculation C) Investment

8. How do you manage your Portfolio?

A) Self B) Depends on the company for portfolio

9. If, you trade with Amrapali Aadya limited then why?

A) Research B) Brokerage C) Services D) Investments Tips

10. Which Portfolio Type you preferred?

A) Equity B) Debt C) Balanced

11. How was your experience about Portfolio Management services (PMS) of Amrapali

Aadya Limited?

A) Earned B) Faced Loss C) No profit No loss