Professional Documents
Culture Documents
Ritesh Project Trading
Ritesh Project Trading
Submitted To
The Institute of Chartered Financial Analysts of India
1
Certificate
This is to Certify that Mr. Ritesh Kumar Student of M.B.A. Batch
FACULTY GUIDE
Dr. NISHA CHANANA
(Head of Department)
INSTITUTE ADDRESS:- VVGF+MRF, The ICFAI UNIVERSITY, Kalujhanda, Baddi, Himachal Pradesh 174103
Email : https://www.iuhimachal.edu.in/,
2
Certificate of Completion
3
Student’s Declaration
I undersigned Ritesh kumar a student of ICFAI MBA 2nd semester, declare that summer
internship project titled “Study on Online Trading” is a result of my own work and my
indebtedness to other work publications, references, if any, have been duly
acknowledged. If I found guilty of copying any other report or published information and
showing as my original work, I understand that I shall be liable and punishable by
Institute or University, which may include ‘Fail’ in examination, ‘Repeat study & re-
submission of the report’ or any other punishment that Institute or University may decide.
RITESH KUMAR
Roll Number: 22FMPCHPN01034 Signature
4
ACKNOWLEDGEMENT
I would, at the very onset, like to thank Mr. Varun Verma, Motilal Oswal
Financial Services for providing me the opportunity to perform my Summer
Internship Project in the Company. I would like to give special thanks and
gratitude to monitoring and provide necessary data and information as a
when required throughout the project.
I would like to thank all of them who in one way or the other have helped me.
RITESH KUMAR
Roll No.-22FMPCHPN01034
5
TABLE OF CONTENTS
1. List of Tables 5
2. List of Graph/Charts 7
3. Executive Summary 8
PART-1
4. Company Profile 10
PART-2
6. Review of Literature 43
7. Objectives of Study 58
8. Research Methodology 60
11. Findings 83
12. Conclusion 85
13. Recommendation 87
15. Bibliography 91
16. Annexure 94
6
LIST OF TABLES
S.No Title Page No.
.
1. Type Of Demat Account Terminal 13
2. Brokerage Structure 14
3. Investment 14
5. Table -5 65
6. Table -6 66
7. Table -7 67
8. Table -8 68
9. Table -9 69
7
LIST OF GRAPHS/CHARTS
S.No. Title Page No.
2. Figure -1 66
3. Figure -2 67
4. Figure -3 68
5. Figure -4 69
6. Figure -5 70
7. Figure -6 71
8. Figure -7 72
9. Figure -8 73
10. Figure -9 74
8
Executive Summary
This project is based on “STUDY ON ONLINE TRADING” at Motilal Oswal
Financial Services. Further, this Project includes review of literature & the
introduction of the company wherein this project tells about the profile of Motilal
Oswal Financial Services, Situation Review wherein it has been shown SWOT
analysis of company, financial analysis of company and finally Learning’s &
Findings.
Motilal Oswal Financial Services Basically work to educate and empower the
individual investor to make better investment decisions through quality advice and
superior service. Motilal Oswal Financial Services is a depository participant. This
means that the shares are kept in dematerialized form in Motilal Oswal Financial
Services.
RITESH KUMAR
9
PART-1
10
COMPANY
PROFILE
11
COMPANY PROFILE
Vision:-
Mission:-
12
.
The Motilal Oswal Financial Services First Step is a brand new program designed
especially for those who are new to investing in shares. All one have to do is open
a Motilal Oswal Financial Services First Step account and they guide us through
the investing process.
Demat Account:-
TABLE: 1
TYPE OF DEMAT DEPOSIT (Refundable) CHARGES (non
Rs.10000 Nil
Rs.10000/25000 Nil
13
Account opening:-
• One can open a Depository Participant (DP) account, either through a Motilal
Franchisee centre.
• There is no fee for opening DP accounts with Motilal Oswal Financial Services.
• All investors have to submit their proof of identity and proof of address along with
BROKERAGE:-
TABLE: 2
INTRADAY DELIVERY
F&O 0.03%
14
MINIMUM INVESTMENT IN MUTUAL FUND:-
TABLE: 3
Plan Company)
15
PROCESS OF ACCOUNT OPENING
CONTACT
APPOINTMENT
DEMONSTRATION
DOCUMANTATION
FILLING THE FORM
16
MOTILAL OSWAL FINANCIAL SERVICES has tie up
with the following banks:-
• HDFC
• Axis Bank
• IDBI
• Citi Bank
• Union Bank
• ICICI Bank
• Government Employees
17
• Women (literate and working)
Market Share:-
Services 's daily trading volume was over Rs 200 crore, the share of
Web trading at about
Rs 40 crore a day was substantial and a larger part of the volume was
coming from day traders
• Depository services,
18
• IPO Services,
• Dial-n-Trade
Documents Required :
19
trading will be Rs. 300/-(free Demat +300 Trading Account)
the minimum amount being Rs. 1000 a cheque can be given for
a larger amount.
Registration Kit
20
COMPETITORS OF MOTILAL OSWAL FINANCIAL SERVICES
LTD
Indian bulls is an Indian group with its headquarters in Mumbai. It has presence in
sectors ranging from Real Estate, Infrastructure, Housing Finance, and Securities India
bulls Group has several companies with presence in Housing Finance, Real Estate,
Securities. All the group companies are listed on the Bombay Stock Exchange, and the
15,443 Crore. India bulls was conferred the status of a Business Super brand by The
Share khan is an online website portal for online trading, investments and stock
Morakhia. Share khan is ranked 2nd largest stock broker portal and has its branches in
Angel Broking is an Indian Stock Broking firm established in 1987. The company is a
member of the Bombay Stock Exchange (BSE), National Stock Exchange (NSE),
National Commodity & Derivatives Exchange Limited (NCDEX) and Multi Commodity
Exchange of India
21
Limited (MCX). It is a depository participant with Central Depository Services Limited
(CDSL). The company has 8500+ sub-brokers and franchisee outlets in more than 850
The company Angel Broking provides financial services to retail clients. Their services
include online stock broking, depository services, and commodity trading and investment
advisory services. Wealth management solutions such as personal loans and insurance are
also delivered by this company. In 2006, the company started its Portfolio Management
Services (PMS), IPOs business and Mutual Funds Distribution (MFD) arm. The company
Kotak Securities Limited, a subsidiary of Kotak Mahindra Bank, is the stock broking and
distribution arm of the Kotak Mahindra Group. One of the oldest broking houses in India,
its operations include stock broking and distribution of various financial products. It is a
corporate member of both the Bombay Stock Exchange and the National Stock Exchange
of India. Kotak Securities was founded in 1994 and is headquartered in Mumbai, India. In
2014, Kotak Securities was ranked as number 1 in India's Institutional Investor rankings
by weighted average. Kotak Securities is well known with professional traders for its
FL was co-founded on Oer 17, 1995 by Nirmal Jain and R. Venkatraman. Jain was
previously employed with Hindustan Lever Limited. The company was founded as
Probity Research and Services Private Limited which provided research on the Indian
economy, businesses and corporates. The name was later changed to India Info line
Limited.
22
A few years into the business, the organization found itself with clients which included
research organizations, banks and corporates. They then began launching their research
products to become more noticeable in the market. In the meanwhile, the dotcom
revolution was beginning to take place in India. Taking advantage of this revolution
would mean an increase in the number of readers to millions. The website was created in
1999.
5 PAISA.COM
Taking the business one step ahead this group of consultants opened a trading portal –
www.5paisa.com –in 2000 thus moved into the business of being a full service broking
agency.
In 2001, the Indian dotcom industry saw a downfall. During this time, sustaining became
tough.
The organization then decided to tie-up with leading Life Insurance company ICICI
Prudential, thus putting to use its distribution network and becoming India’s first
corporate
agent for
insurance.
SWOT ANALYSIS
Strengths
• It is a pioneer in online trading with a turn over of Rs.250 crores and more than 110
• Motilal Oswal Financial Services has more than eight decades of trust and
• Motilal Oswal Financial Services provides multi-channel access to all its customers
Which constantly track the pulse of the market and provide timely investment
advice free of cost to its clients which has a strike rate of 70-80%
• Easier access to the customer due to largest ground network of 280 branded share
• Efficient research and analysis team, which is, interpreting the economy and
Weakness
• Promotional activities conducted by the company are not at par with the other Firms
Opportunities
• With the booming capital market it can successfully launch new services and raise
• It can easily tap the retail investors with small saving through promotional Channels
• As interest on fixed deposits with post office and banks are all time low, more and
24
• Abolition of long term capital gain tax on shares and reduction in short term capital
gain is making stock market as hot destination for investment among small
investors.
Threats:-
• More and more players are venturing into this domain which can further
the market.
The underlying picture forming answer for above question is given below.
25
PRODUCTS AND SERVICES OF MOTILAL OSWAL FINANCIAL
SERVICES :
FIGURE:-
26
PART-2
27
INTRODUCTION
28
INTRODUCTION
CONSUMER BEHAVIOUR:
Customer behaviour study is based on consumer buying behaviour, with the customer
playing the three distinct roles of user, payer and buyer. Research has shown that
consumer behaviour is difficult to predict, even for experts in the field.
Stocks:-
The stock or capital stock of a business entity represents the original capital paid into or
invested in the business by its founders. It serves as a security for the creditors of a
business since it cannot be withdrawn to the detriment of the creditors. Stock is distinct
from the property and the assets of a business which may fluctuate in quantity and value.
Buying a stock for the long term means that you want to own part of a company and you
think that in the future the company will be profitable. If you buy stock in a company and
the company performs well, the stock's price should rise. If the company fails, then the
stock should fail you, too and go down. The stock exchanges actually compete with each
other for these listings, since companies that attract more trading make more money for
the stock exchange that listed it. Company stocks are assigned a "ticker" or trading
symbol by the listing exchange. You may notice some well-chosen tickers that are easy to
remember, like "DNA" for the company Genentech, a biotechnology firm. Or some
companies' ticker is the same as its name, Nike for example
29
Stock market
Trading
Historically, stock markets were physical locations where buyers and sellers met and
negotiated. With the improvement in communications technology in the late 20th century,
the need for a physical location became less important, as traders could transact from
remote locations. Participants in the stock market range from small individual stock
investors to large hedge fund traders, who can be based anywhere. Their orders usually
end up with a professional at a stock exchange, who executes the order. Some exchanges
are physical locations where transactions are carried out on a trading floor, by a method
known as open outcry. This type of auction is used in stock exchanges and commodity
exchanges where traders may enter "verbal" bids and offers simultaneously. The
History
31
Bombay Stock Exchange(BSE):-
Established in 1875, BSE (formerly known as Bombay Stock Exchange Ltd.), is Asia's
first & fastest Stock Exchange with the speed of 200 micro seconds and one of India's
leading exchange groups. Over the past 140 years, BSE has facilitated the growth of the
Indian corporate sector by providing it an efficient capital-raising platform. Popularly
known as BSE, the bourse was established as "The Native Share & Stock Brokers'
Association" in 1875. BSE is a corporatized and demutualised entity, with a broad
shareholder-base which includes two leading global exchanges, Deutsche Bourse and
Singapore Exchange as strategic partners. BSE provides an efficient and transparent
market for trading in equity, debt instruments, derivatives, mutual funds. It also has a
platform for trading in equities of small-and-medium enterprises
(SME).
More than 5500 companies are listed on BSE making it world's No. 1 exchange in terms
of listed members. The companies listed on BSE command a total market capitalization
of USD 1.68 Trillion as of March 2015. It is also one of the world's leading exchanges
(5th largest in March 2015) for Index options trading (Source: World Federation of
Exchanges).
BSE also provides a host of other services to capital market participants including risk
management, clearing, settlement, market data services and education. It has a global
reach with customers around the world and a nation-wide presence. BSE systems and
processes are designed to safeguard market integrity, drive the growth of the Indian
capital market and stimulate innovation and competition across all market segments. BSE
is the first exchange in
India and second in the world to obtain an ISO 9001:2000 certification. It is also the first
Exchange in the country and second in the world to receive Information Security
Management System Standard BS 7799-2-2002 certification for its On-Line trading
System (BOLT). It operates one of the most respected capital market educational
institutes in the country (the
BSE Institute Ltd.). BSE also provides depository services through its Central Depository
Services Ltd.(CDSL)arm.
32
BSE's popular equity index - the S&P BSE SENSEX - is India's most widely tracked
stock market benchmark index. It is traded internationally on the EUREX as well as
leading exchanges of the BRCS nations (Brazil, Russia, China and South Africa).
BSE has won several awards and recognitions that acknowledge the work done and
progress made like India Innovation Award for the Big Data implementation , ICICI
Lombard & ET Now Risk Management BFSI Company 2013, SKOCH Order of Merit
Certificate was awarded to BSE for E -Boss for qualifying amongst India's Best 2013,
The Golden Peacock Global CSR Award for its initiatives in Corporate Social
Responsibility, NASSCOM - CNBC-TV18's IT User Awards, 2010 in Financial Services
category, Skoch Virtual Corporation 2010 Award in the BSE STAR MF category and
Responsibility Award (CSR) by the World Council of Corporate Governance. Its recent
milestones include the launching of BRICSMART indices derivatives, BSE-SME
Exchange platform, S&P BSE GREENEX to promote investme nts in Green
Introduction to BSE:-
Bombay Stock Exchange is the oldest stock exchange not only in India but in entire Asia.
Its history is synonymous with that of the Indian Share Market history. BSE started
functioning with the name, The Native Share and Stock Broker's Association in 1875. It
got Government of India's recognition as a stock exchange in 1956 under Securities
Contracts (Regulation) Act, 1956. At the time of its origin it was an Association of
Persons but now it has been transformed to a corporate and demutualized entity. BSE is
spread all over India and is present in 417 towns and cities. The total number of
companies listed in BSE is around 3500.The main index of BSE is called BSE SENSEX
or simply SENSEX. It is composed of 30 financially sound company stocks, which are
liable to be reviewed and modified from time-totime.
33
• The BSE National Index was renamed as BSE-100 Index from October 14, 1996
and since then it is calculated taking into consideration only the prices of stocks listed at
BSE.
• The Exchange launched dollar-linked version of BSE-100 index i.e. Dollex-100 on
May 22, 2006.
• The Exchange constructed and launched on 27th May, 1994, two new index series
viz., the 'BSE-200' and the 'DOLLEX-200' indices.
• The launch of BSE-200 Index in 1994 was followed by the launch of BSE-500
Index and 5 sector alindices in 1999. In 2001, BSE launched the BSE-PSU Index,
DOLLEX-30 and the country's first free-float based index - the BSE TECK Index. The
Exchange shifted all its indices to a free-float methodology (except BSE PSU index) in a
phased manner.
Introduction to NSE:-
National Stock Exchange (NSE) founded although late than BSE, is currently the leading
stock exchange in India in terms of total volume traded. It is also based in Mumbai but
has its presence in over 1500 towns and cities. In terms of market capitalization, NSE is
the
34
second largest bourse in South Asia. National Stock Exchange got its recognition as a
stock exchange in July 1993 under Securities Contracts (Regulation) Act, 1956. The
products that can be traded in NSE are: -
• Equity or Share
NSE's mission is setting the agenda for change in the securities markets in India.
• Establishing a nation-wide trading facility for equities, debt instruments and hybrids,
• Ensuring equal access to investors all over the country through an appropriate
communication network,
• Providing a fair, efficient and transparent securities market to investors using
Affairs (DEA), Department of Company Affairs (DCA), Reserve Bank of India (RBI) and
Securities and Exchange Board of India (SEBI).
35
Securities and Exchange Board of India (SEBI):-
Role of SEBI:-
SEBI has been obligated to perform the aforesaid functions by such measures
as it
• Calling for information from, undertaking inspection, conducting inquiries and audits
36
Security Measures and Operational Features of BSE and NSE :
The leading stock exchanges in India have developed itself to a large extent since its
emergence. These stock exchanges aim at offering the investors and traders better
transparency, genuine settlement cycle, honest transaction and to reduce and solve
investor grievances. The aim to describe these operational features is for better
understanding of the working of stock exchanges. This is done for the purpose of easy
understanding from the reader‘s point of view.
DERIVATIVES:
Derivatives are assets, which derive their values from an underlying asset. These
• Equities
For example, a dollar forward is a derivative contract, which gives the buyer
a right & an obligation to buy dollars at some future date. The prices of the
derivatives are driven by the spot prices of these underlying assets.
However, the most important use of derivatives is in transferring market risk,
called Hedging, which is a protection against losses resulting from
unforeseen
37
price or volatility changes. Thus, derivatives are a very important tool of risk
management.
There are various derivative products traded. They are;
• Forwards
• Futures
• Options
• Swaps
38
MARKETING STRATEGY OF MOTILAL OSWAL
FINANCIAL SERVICES
Market Positioning:-
Market positioning statements of Motilal Oswal Financial Services are “ same level of
personal attention, respect and support each time”
So, Motilal Oswal Financial Services focus on the consumers who prefer almost all
investment activities at same place by providing number of various financial services. At
Motilal Oswal Financial Services a person can purchase or sell shares, debentures etc. and
at the same place also demat it. Motilal Oswal Financial Services also provides other
investment option to the same person at same place like Mutual Fund, , Fixed Deposit,
and Bonds etc. and help the person in designing his portfolio. By this way Motilal Oswal
Financial Services provides comfort to its customers.
Target Market:-
Motilal Oswal Financial Services uses demographic segmentation strategy and segment
people based on their occupation. Karvy uses selective specialization strategy for market
targeting.
Target person for the Sumpoorn are persons who can work as sub-broker for the
companies. Companies focus on Advisors of Insurance and post office, Tax consultants
and CAs for making sub-broker.
40
distributes stationery, brokerage, and information forward to its sub-broker. The
sub-brokers send filled forms, queries, amount of investment etc. back to the
company
• Build in-house processes that will ensure transparent and harmonious relationships
• Establish a partner relationship with its investor service agents and vendors that
will help in keeping up its commitments to the customers.
41
REVIEW OF
LITERATURE
REVIEW OF LITERATURE
Charles (1999) has analysed that the astonishing growth in Americans'
stock portfolios in the 1990s has been a major force behind the growth of
consumer spending. This article reviews the relationship between stock
market movements and consumption. Using various econometric techniques
and specifications, the authors find that the propensity to consume out of
aggregate household wealth has exhibited instability over the postwar period.
They also show that the dynamic response of consumption growth to an
unexpected change in wealth is extremely short-lived, implying that
forecasts of consumption growth one or more quarters ahead are not
typically improved by accounting for changes in existing wealth.
Ranganathan (2003), has stated the investor behavior from the marketing
world and financial economics has brought together to the surface an
exciting area for study and research: behavioral finance. The realization that
this is a serious subject is, however, barely dawning. Analysts seem to treat
financial markets as an aggregate of statistical observations, technical and
fundamental analysis. A rich view of research waits this sophisticated
understanding of how financial markets are also affected by the ‘financial
behavior’ of investors. With the reforms of industrial policy, public sector,
financial sector and the many developments in the Indian money market and
capital market,
43
mutual funds that has become an important portal for the small investors, is
also influenced by their financial behavior. Hence, this study has made an
attempt to examine the related aspects of the fund selection behavior of
individual investors towards Mutual funds, in the city of Mumbai. From the
researchers and academicians point of view, such a study will help in
developing and expanding knowledge in this field.
45
more by poor reviews of quality than they are rewarded for good reviews.
The authors discuss the research, managerial, investing, and policy
implications.
Patnaik and shah (2008) has analysed on the preferences of foreign and domestic
institutional investors in Indian stock markets. Foreign and domestic institutional
investors both prefer larger, widely dispersed firms and do not chase returns. However,
we and evidence of strong differences in the behavior of foreign and domestic
institutional investors.
Mayank (2009) has analysed the role of two important forces - the regulator and the
capital market as determinant of external finance in transition economies analyses the
changing pattern and future prospectus of external finance to India and reviews the role of
external finance. Under this framework, the study evaluates current Indian corporate
governance practices in light of external finance.
Rajeshwari and Moorthy has conducted the study and analysed that Mutual
Fund is a retail product designed to target small investors, salaried people and others who
are intimidated by the mysteries of stock market but, nevertheless, like to reap the
benefits of
46
stock market investing. At the retail level, investors are unique and are a highly
heterogeneous group. Hence, their fund/scheme selection also widely differs. Investors
demand inter-temporal wealth shifting as he or she progresses through the life cycle. This
necessitates the Asset Management Companies (AMCs) to understand the fund/scheme
selection/switching behaviour of the investors to design suitable products to meet the
changing financial needs of the investors. With this background a survey was conducted
among 350 Mutual Fund Investors in 10 Urban and Semi Urban
centers to study the factors influencing the fund/scheme selection behaviour of Retail
Investors. This paper discusses the survey findings. It is hoped that it will have some
useful managerial implication for the AMCs in their product designing and marketing.
Atkinson (2000) There are several studies in the literature that attempt to discuss some of
the problems and challenges associated with online trading. The first problem discussed in
the literature is hidden costs and deceptive advertising associated with online trading.
supported this contention that buried in all the online trading hype resides the fine print.
This obscure data translates into a venture that is more costly than one was lead to believe.
McNamee (2000) and Patel (1999) Delayed and varied execution speeds and
self serving market makers were among the items responsible for this pitfall of online
trading as was collaborated in the studies. Internet security is also a major concern to
investors. Computer hackers and viruses plague every sector of the computer community
and with certainty will continue to do so.
(Goldberg, 1998) Internet applications are endless and e-commerce companies are
developing innovative business models and making advancements everyday. One of the
fastest growing internet ventures is online trading. The first internet securities trading
occurred in 1994. By 1997, it has been estimated that 17 percent of all trades occurred
online via the internet. Online brokerage firms emerged and the wealth of information
available to many investors.
47
OBJECTIVES OF
THE STUDY
55
OBJECTIVES OF THE STUDY
The Objective is to review the study of ONLINE TRADING at Motilal Oswal Financial
Services
Portfolio Ltd as the exchange has changed it’s trading from the outcry mode
to online trading on 20th December 2010.
56
RESEARCH
METHODOLOGY
57
The research methodology defines what the activity of research is, how to
proceed, how to measure progress, and what constitutes success. It provides
us an advancement of wealth of human knowledge, tools of the trade to carry
out research, tools to look at things in life objectively; develops a critical and
scientific attitude, disciplined thinking to observe objectively (scientific
deduction and inductive thinking); skills of research particularly in the ‘age
of information’. Also it defines the way in which the data are collected in a
research project. In this paper it presents one components of the research
methodology from a real project; the theoretical design and framework
respectively.
Sources of Data:-
Data, facts ,figures, other relevant material of past and present and surveying
are the basis for study and analysis. Without an analysis of factual data no
specific inferences can be drawn on the questions under study. Inferences
based on imagination or guesses cannot provide correct answer to research
questions. The relevance adequacy and reliability of data determine the
quality of the findings of a study.
For the purpose of the present study, data from two sources has been
collected, namely primary data and secondary data.
58
response of the respondents was taken into consideration. In this
study, primary data plays a vital role for analysis, interpretation,
conclusion and suggestions.
SECONDARY DATA:- Secondary data is data which is collected and
compiled for other purposes. Secondary data also plays a key factor in providing
more information which will influence the analysis. Few of the main sources of
a problem that has not been clearly defined. It often occurs before we know
Exploratory research helps determine the best research design, data collection
Sample Area : Noida city is being taken as a sample area for study.
Sample Size : The research made use of primary data, which was collected by
the
50 respondents but out of which only 40 has responded to the questions that’s why
59
FINDING
85
FINDINGS
• Majority of investors invest only upto 10% of their annual income in share market.
• Motilal Oswal Financial Services Ltd has a great competition with other broking
agencies like Kodak, Angel etc. because they are also using new technologies to
retain customers.
•
• The number of players is increasing at a steady rate and today there are over a
dozen of brokerage houses who have opted to offer net trading to their customer
and prominent among them are Motilal Oswal Financial Services, India bulls,
Kotak street, Karvy.
• Investors perception changes with the fluctuations in share market
86
CONCLUSION
87
CONCLUSION
In today’s scenario when al services are going to be online or in electronic form Motilal
Oswal Financial Services Ltd. Is creating awareness of online trading so that the client
can trade from anywhere from the World. Motilal Oswal Financial Services Portfolio Ltd.
takes care of client portfolio and whenever the value of his/her portfolio will decrease by
30% then that client is always informed by his/her relationship Manager. Motilal Oswal
Financial Services is a company that has helped in handling a vast amount of transactions
and this can be an efficient trading, delivering, settlement system with adequate
protection to investors.
The introduction of on-line trading would influence the investors resulting in an increase
in the business of the exchange. Due to invention of online trading there has been great
benefit to the investors as they could sell / buy shares as and when required and that to
with online
88
SUGGESTIONS
89
SUGGESTIONS & RECOMMENDATIONS
• Allocation of news in such a way that Motilal Oswal Financial Services Ltd maintain a
• Can improve in that areas where service provide by other major competitors is very
strong in this area. • To increase the awareness level of the company among the public.
• The company must spread the awareness to its clients for the service like F&O
Equities to increase the satisfaction level of clients as we have find that there is
positive aspect between the satisfaction level of services provided by Motilal Oswal
90
LIMITATIONS OF
THE STUDY
91
REFERENCES
REFERENCES
WEBSITES :
• www.investopedia.com
• www.bseindia.com
• www.nseindia.com
• www.moneycontrol.com
NEWSPAPER :
RESEARCH PAPERS:
• Bae, K., Bailey, W., Mao, C.X. (2006), Stock Market Liberalization and the
428.
• Baker, H.K. (1996), Trading Location and Liquidity: An analysis of U.S. Dealer
and
Agency Markets for Common Stocks. Financial Markets, Institutions & Instruments,
5(4), 1-51.
• Money and Capital in Economic Development, Washington: Brookings
Institution. International Journal of Economics and Financial Issues, Vol. 3, No. 3.
• Dijk (2007). Economic Policy, The Size Effect in Equity Returns. Empirical
Research Findings. Journal of Financial Management and Analysis,
21(1).Available at http://papers.ssrn.com/sol3/results.cfm last accessed on July5,
2009.
BOOKS:
Dear respondent,
□ Yes □ No
□ Yes □ No
□ Yes □ No
□Yes □No