Report

PREFACE

For a management student training plays an important role
during his/her study. Training provides a corporate or real world platform
to learn practically.

This training provides us an opportunity to know the current
market. To know the current market situations, prevailing competitions,
behavioral environment of different people etc. It provides us a platform
whereby we can apply our theoretical knowledge and we can solve many
practical problems. And hence it can help us to be a successful manager in
future.

Thanking to all those who directly or indirectly helped me to
complete this project within a short span of time. For preparation of this
report I would like to thanks to faculty members of our college and staff
members of INDIA INFOLINE SECURITIES PVT. LTD., SURAT.

EXECUTIVE SUMMARY

PURPOSE:

Days were gone when people only invest their money in post
office or in banks. Today people have several choices for the investment.
One of the most emerging choices is to invest in shares (equities). To get
good return on investment, people are ready to take risks. To start
investment in equities people need Demat, Trading and bank account.

Investors thus try to select the broking firms as per their
requirements. The investors want some unique features in the broking firms
so that they can get good services from them. The various parameters are
taken into consideration for the selection of broking firms by the investors.
Information which include the criteria about customers prefer for the
selection of broking firms, their needs and wants such as brokerages,
advisory services, margin money etc. Such information is used to satisfy
customers’ needs and wants.

OBJECTIVES OF THE PROJECT

1. To understand the practical aspects and working of the broking firms.

2. To understand the factors that influence the preferences of the customers
in terms of brokerage charges, advisory services, payment conditions,
regular research etc.

3. To know which investment avenues are preffered by the investors so that
they earn profit.

4. To know the factors or parameters preferred by investors in choosing the
broking firm such as margin money, better customer relationships, advisory
services etc.

APPROACH:

Here sample size of 100 respondents of various brands like,
India Infoline, Motilal Oswal, IL&FS, Share Khan, India Bulls are taken from
Surat. I used descriptive research design to reach my objectives. Data are
collected through structured questionnaire followed by personal interview.

FINDINGS:

For this project report I have used descriptive research design to
reach my objective and collected data through structured questionnaire
followed by personal interview. Through the entire report I found out that:
Basically the investors invest in capital market and utilize the facility of the
broking firms such as portfolio management, services of the relationship
managers, advisory services, etc.

The broking firms are having some unique features, which attract the
customers such as brokerage charges, margin money, regular seminars and
research etc. From the findings I have found out that India Infoline provides
best services such as customer relations, portfolio management, offline
services etc.

TABLE OF CONTENT
SR. NO. TOPIC Page no.
1 Introduction
1.1 industry profile
1.2 Company profile
2 Research Methodology
2.1 Problem definition
2.2 Objectives of Research
2.3 Research Methodology
2.4 Statistical Test used
3 Data analysis & Interpretation
4 Findings
5 Conclusion
6 Bibliography
7 Appendix

1. INTRODUCTION

1.1 INDUSTRY PROFILE

Introduction of broking industry

This report analyzes the Indian retail brokerage industry, taking into
account the health of the capital markets and the intensity of competition
among the brokerage companies

The Indian retail brokerage industry consists of companies that primarily
act as agents for the buying and selling of securities (e.g. stocks, shares,
and similar financial instruments) on a commission or transaction fee basis.
It has two main interdependent segments: Primary market and the
Secondary market.

Some of the main characteristics of the brokerage industry include growth
in e-broking; growing derivatives market, decline in brokerage fees etc.

Retail investors often lack the knowledge and expertise in the financial
sector that calls them to approach the broking houses. The retail broking
services provided by the various companies are homogeneous with very low
product differentiation. This allows customers to enjoy a greater bargaining
power. There is a growing dependence of corporates on broking houses with
the rising number of IPO’s coming to the market.
Lot of brokerage companies is moving towards consolidation with the
smaller ones becoming either franchisees for the larger brokers or closing
operations. There is an increasing demand for online trading due to
consumer’s growing preference for Internet as compared to approaching the
brokers.
New forms of trading including T+2 settlement system,
dematerialization etc. are strengthening the retail brokerage market and
attracting foreign companies to enter the Indian industry. Various

alternative forms of investment including fixed deposits with banks and post
offices etc. act as substitutes to retail broking products and services.

An agent charges a fee or commission for executing buy and sells
orders submitted by an investor. The firm that acts as an agent for a
customer, charge the customer the commission for its service. Roles similar
to that of a stockbroker include investment advisor, financial advisor and
probably many others.

A broker works for a brokerage firm (a sell-side institution). A trader
works for a buy-side institution (mutual fund, investment advisory firm,
insurance company, etc.) or for himself. Brokers don't care what they sell
and at what prices, as long as they get to sell a lot of it. Traders
(professional ones anyway) work to make sure that they are transacting at
the best possible price at the lowest possible cost.
.
Which broking firm to choose

Till recently, one could buy or sell stocks only through individual
stockbrokers and broking firms/companies. But now stock trading has gone
online, and there are many Web-based share-trading platforms such as
icicidirect.com, hdfcsecurities.com, investsmartindia.com and sharekhan.com.

Trade confirmation

Trading Web sites have their own order book, which is matched in the
exchange's order book. Brokers may not always trade in your name. This
could mean a potential conflict of interest. However, this is not a major
problem now, as you can crosscheck on the same day whether your broker
has carried out the trading instructions in the NSE or the BSE.

Offline trading
With a broker, it becomes tedious to place orders when someone is
traveling. Broking houses do have tie-ups and branches in important cities.
Check about the availability of such services. The online broking sites
remove this difficulty from trading. But check whether an offline trade order
can be placed if the site is not accessible.

Brief introduction of Various products offered by broking firms:-

• MUTUAL FUNDS:

A mutual fund is a form of collective investment that pools money from many
investors and invest their money is stocks, bonds, short term money market instruments, and
other securities. In an mutual fund, the fund manager who is also know as portfolio manager,
trades the fund’s underlying securities, realizing capital gains or losses, and collects the
dividend of interest income. The investment proceeds are then passed along to the individual
investors. The value of a share of the mutual fund, known as the net asset value per share
(NAV), is calculated daily based on the total value of the fund divided by the number of
share currently issued and outstanding.

COMMODITIES:

Commodity markets are markets where raw or primary
products are exchanged. These raw commodities are traded on regulated
commodities exchanges, in which they are bought and sold in
standardized Contracts

Cotton, kilowatt-hours of electricity, board feet of wood, long distance
minutes, royalty payments due on artists' works, and other products and
services have been traded on markets of varying scale, with varying degrees
of success

GOVERNMENT BONDS:

Bonds are issued by public authorities, credit institutions, companies
and supranational institutions in the primary markets. The most common
process of issuing bonds is through underwriting. In underwriting, one or
more securities firms or banks, forming a syndicate, buy an entire issue of
bonds from an issuer and re-sell them to investors. Government bonds are
typically auctioned.

INSURANCE:
Insurance is defined as the equitable transfer of the risk of a loss,
from one entity to another, in exchange for a premium. Similar to an
insurance consultant, an ‘insurance broker’ also shops around for the best
insurance policy amongst many companies. However, with insurance
brokers, the fee is usually paid in the form of commission from the insurer
that is selected rather than directly from the client.

LOANS:-
A loan is a type of debt. All material things can be lent but this article
focuses exclusively on monetary loans. Like all debt instruments, a loan

entails the redistribution of financial assets over time, between the lender
and the borrower.

DERIVATIVE:

Derivative is a financial instrument, which derives its value from an
underlying asset. The underlying assets can be stock, bonds, currency,
commodities, metals even intangible, and pseudo assets like stock indices.

Derivatives have been a recent development in the Indian financial markets.
But there have been derivatives in commodities market also. There is a
cotton and oilseed future in Mumbai, Soya future in Bhopal, pepper futures
in Cochin, coffee futures in Bangalore etc. But the players in this market
are restricted to farmers and industries, which need these as an input to
protect themselves from the vagaries of agriculture sector.

Comparative Assessment of different companies: ---

1... India Infoline-
Buy and sell shares on 5paisa.com with speeds comparable and at
times better than NSE's NEAT Terminal. Its website is www.5paisa.com
It has collaboration with following banks such as ICICI Bank, HDFC
Bank, City bank, UTI Bank, Centurion Bank of Punjab, Bank of Baroda.

Brokerage charges---
One time registration charge 555/-
Margin money 5000/-
Intraday trading 0.10%

Cash delivery 0.50%
F&O 0.10%
Intraday 0.05%
Cash delivery 0.25%

2... Share khan
It has collaborated with ICICI bank, HDFC bank, YES bank, IndusInd
bank, and Oriental bank of commerce, Union bank of India.
Brokerage charges—
Margin money 25000/-
Cash delivery 0.80%
F&O 0.10%
Cash delivery 0.50%

3... Motilal Oswal
One of the top-3 broking houses in India, with a dominant position in
both institutional and retail broking, most is amongst the best-capitalized
firms in the broking industry in terms of net worth. Company was founded
in 1987 as a small sub-broking unit, with just two people running the show.
Focus on customer-first-attitude, ethical and transparent business
practices, respect for professionalism, research-based value investing and
implementation of cutting-edge technology have enabled it to blossom into a
thousand-member team.
Web site URL: www.motilaloswal.com

Brokerage charges—
Margin money 5000/-
Cash delivery 0.50%

4... IL&FS
IL&FS Invest smart Limited (IIL) is a premier financial service
organization providing individuals and corporate with customized financial
management solutions. We work towards understanding your financial
goals and helping you attain them.
Web site URL: www.investsmartindia.com

Brokerage charges--

Margin money -
Cash delivery 0.40%

5... India Bulls
India bull is India's leading retail financial services company with 70
locations spread across 62 cities. While our size and strong balance sheet
allow us to provide you with varied products and services at very attractive
prices, our over 450 Client Relationship Managers are dedicated to serving
your unique needs. It has collaborated with ICICI bank, HDFC bank and
UTI bank.
Web site URL: www.indiabulls.com

Brokerage charges--
Margin money -
Cash delivery 0.40%

This is the matrix prepared through the above comparative analysis of the
broking firms:
COMPARATIVE CHART OF SELECTED BROKING FIRM:

PARAMETERS
INDIA INDIA MOTILA
/ IL&FS SHAREKHAN
INFOLINE BULLS L OSWAL
COMPANIES
Equities Y Y Y Y Y P
Derivatives Y Y Y Y Y R
Commodities Y Y Y Y Y O
Merchant
N Y N N N D
banking
Portfolio mgmt Y Y Y Y Y U
Mutual funds Y Y Y Y Y C
Insurance Y Y Y Y Y T
Loans N Y Y Y N S
Investment
advisory Y Y Y Y Y S
services
Online services
Y N Y Y N E
{software}
Offline
Y Y Y Y Y R
services
Relationship
Y Y Y Y Y V
management
Margin money 5000/- NIL 25000/- 900/- NIL C
Debit charges 0.05% 0.05% 0.05% H
Yearly charges NIL 600/- 460/- NIL 900/- A
Brokerages R
{Intraday} 0.10% 0.04% 0.10% 0.08% 0.05% G
{Delivery} 0.50% 0.40% 0.80% 0.40% 0.50% E

1.2 COMPANY PROFILE:

INDIA INFOLINE SECURITIES PVT. LTD

The India Infoline Group is committed in placing the Investor First, by
continuously striving to increase the efficiency of the operations as well as
the systems and processes for use of corporate resources in such a way so
as to maximize the value to the stakeholders. The Group aims at achieving
not only the highest possible standards of legal and regulatory compliances,
but also of efficient effective management.

PROFILE OF INDIA INFOLINE:

In 1995, Nirmal Jain founded his own independent financial research
company, now known as India Infoline Ltd. India Infoline Ltd Launched on
11 May 1999; www.indiainfoline.com is India’s leading and most
comprehensive business and financial information website.
Www.5paisa.com is subsidiary company of India Infoline Ltd. Launched for
online trading in mid-2000. The 5paisa trading interface is one of the most
advanced platforms available to retail investor in India. The site made
available quality information and analysis - earlier restricted to a few people
- to the common man absolutely free.

The India Infoline group, comprising the holding company, India
Infoline Ltd and its wholly owned subsidiaries offers the entire gamut of
investment products ranging from Equities and derivatives trading,
Commodities trading, Portfolio Management Services, Mutual Funds, Life
Insurance, Fixed deposits, GoI bonds and other small savings instruments.
India Infoline also owns and manages the websites, www.indiainfoline.com
and www.5paisa.com. India Infoline Ltd is a company listed on both the
leading stock exchanges in India namely the Stock Exchange, Mumbai
(BSE) and the National Stock Exchange (NSE). The India Infoline group has
a significant presence across the country owing to its 125 offices across 45

cities across India. All these offices are networked and are connected with
the corporate office in Mumbai.

Post deregulation of the insurance sector, India Infoline Ltd became
one of the first corporate agents to be licensed by IRDA and have tied up
with ICICI Prudential Life Insurance Company. ICICI Prudential Life
Insurance Company Ltd. is the leading private sector insurance player, and
India Infoline ltd.are their leading corporate agent.

MANAGEMENT

INDIA INFOLINE is well known for its financial research. Below is a list of
the team that drives INDIA INFOLINE LTD.

Board of Directors

Directors

Mr. Nirmal Jain Chairman and Managing Director

Mr. R. Venkataraman Executive Director

Mr. Sat Pal Khattar Non Executive Director

Mr. Sanjiv Ahuja Independent Director

Mr. Kranti Sinha Independent Director

Mr. Nilesh Vikamsev Independent Director

ABOUT INDIA INFOLINE LTD.

The India Infoline Group, comprising the holding company, India
Infoline Ltd. And it’s wholly all subsidiaries offer the entire gamut of
investment products ranging from Equities and Derivatives trading,
Commodities trading, Portfolio management services, Mutual Funds, Life
Insurance, Fixed Deposit, GOI bonds and other small savings instruments.
It also owns & manages websites, www.indiainfoline.com & www.5paisa.com

KEY MILESTONES

 Incorporated on October 18, 1995 as Probity Research & Services
 Launched Internet portal www.indiainfoline.com in May 1999
 Commenced distribution of personal financial products like Mutual
Funds and RBI Bonds in April 2000
 Launched online trading in shares and securities branded as
www.5paisa.com in July 2000
 Started life insurance agency business in December 2000 as a
Corporate Agent
 Launched stock messaging service in May 2003
 Acquired commodities broking license in March 2004
 Launched portfolio management services in August 2004
 Listed on NSE and BSE on May 17, 2005
 Acquired 75% stake holding in Money tree Consultancy services in
October 2005
 Acquired 100% equity of Marchmont Capital Advisors Pvt. Ltd in
December 2005
 DSP Merrill Lynch Capital subscribed to convertible bonds aggregating
Rs.80 crores in December 2005. Their current stake in India Infoline is
a little over 14% as on 31st March 2007.

 Bennett Coleman & Co Ltd (BCCL) invested Rs.20 crores in India
Infoline by way of preferential allotment in December 2005.
 Became a depository participant of CDSL in June 2006.
 Merger of India Infoline Securities Private Limited with India Infoline
Limited in January 2007.
 Entered into an alliance with Bank of Baroda for Baroda for Baroda e-
trading in February 2007.
 IRDA license for insurance Broking in April 2007.

VISION

Company vision is:
• To be the premier provider of investment advisory and financial
planning services in India.
• To be a leading investment intermediary for transactions through
both online and offline medium.

PUNCH LINE: IT’S ALL ABOUT MONEY, HONEY!

AWARDS

The company also won the Golden Mouse Award in India Internet
World 2000 for
The Best Finance Site. In May 2001, our website was included in the Top
200 Best of the Web list by Forbes Global under the Asia Investing
category.

RESEARCH METHODOLOGY:--

1. PROBLEM STATEMENT:-

The research problem focuses on the parameters are important for the
selection of broking firms by the customers.
The study focuses on identifying the entire potential buyer in market and
also trying to find out factors that affect the investment decisions of
investors.

2. OBJECTIVE OF THE STUDY:-

The sole effort behind carrying out this study is to find out the various
relationships among different broking firms and how the customers choose
their broking firms.

1. To understand the practical aspects of the broking firms.
2. To understand the factors that influence the preferences of the
customers.
3. To know which investments they choose.
4. To know the factors or parameters preferred by investors in choosing
the broking firm.

3. RESEARCH DESIGN:-

(A) RESEARCH TYPE:-
The type of research undertaken is Descriptive design.
As we are trying to study the investment behavior in general
aspect the study also examines various criteria that people of

various age groups looking before making investment decisions
as well as other parameters for selection of broking firms.

(B) RESEARCH PLAN:-

Primary data is collected through the survey method. The
survey is done with the help of questionnaire. By this method
the behavior of investors can be known more closely.

(C) SAMPLE DESIGN:-

UNIVERSE is entire group of items that researcher wishes to study
and about which help to plan to generalize. For this study the
universe is Surat city.

(D) SAMPLE TYPE:-

The type of sampling is non-probabilistic random sample. The
population surveyed is according to the convenience and
looking to the time and cost factors.

4. DATA ANALYSIS:

Data Analysis is done using SPSS software (Statically Package
for Social Science). This will be used because it gives us
accurate and fast result. Also multiple features of SPSS will
help in applying various tests to reach to accurate conclusions

5. LIMITATIONS OF THE STUDY:-

i. Probability sampling was not used and therefore the results cannot be
generalized.
ii. The project has been carried within two months so there is time
limitation and cost limitation.
iii. Here only those respondents who were available at trading branch
and from Bank of Baroda customers were being surveyed..
iv. The sample size of 100 customers is very small compared to the
population size. There for, findings cannot be generalized to the larger
population.

6. STATISTICAL TESTS TO BE USED

MEASUREMENT OF CENTRAL TENDENCY:

Measure of central tendency is the application of mean,
median and mode.

Factor analysis:-

Factor analysis attempts to identify underlying variables or
factors, that explain the pattern of correlations within a set of observed
variables. Factor analysis is often used in data reduction to identify a small
number of factors that explain most of the variance that is observed in a
much larger number of manifest variables. Factor analysis can also be used
to generate hypotheses regarding causal mechanisms or to screen variables
for subsequent analysis.

Chi-square test:-

With the help of chi square test we can find out whether two or more
attributes are associated or not.
Thus we use chi square distribution to see whether two classifications
of the same data are independent of each other.

DATA ANLYSIS & INTERPRETATION:
Frequency Table

A. Gender

Cumulati
Frequ Valid ve
ency Percent Percent Percent
Vali Male
81 81.0 81.0 81.0
d
Female 19 19.0 19.0 100.0
Total 100 100.0 100.0

percentage

19%

MALE
FEMALE

81%

Interpretation:
From above graph we can say that about 81% of investors are male
and only 19% are female.

B. Occupation

Cumulati
Freque Valid ve
ncy Percent Percent Percent
Vali Student 6 6.0 6.0 6.0
d House
1 1.0 1.0 7.0
wife
Business 39 39.0 39.0 46.0
Service 43 43.0 43.0 89.0
Professio
11 11.0 11.0 100.0
nal
Total 100 100.0 100.0

11% 6% 1%
student
house w ife
business
39% service
43% professional

Interpretation
From the above table and graph we can see that about 43% of people
who invest in capital market are service people. And about 39% of investors
are having their own business and so they invest in capital market. Others
are the housewife, students and professionals who invest very less in capital
market.

C. Age

Cumulati
Freque Valid ve
Vali 19 to
59 59.0 59.0 59.0
d 30
31 to
8 8.0 8.0 67.0
40
Above
33 33.0 33.0 100.0
50
Total 100 100.0 100.0

33%
19 to 30
31 to 40
59% above 50
8%

Interpretation:
From above chart and graph we come to the conclusion that about 59% of
the age group fall under 19 to 30 age group, which is considered as young
generations who are interested in investment. And 33% of the people belong
to age of above 50 years.

D. Income

Cumulati
Freque Valid ve
Vali 50000 to
4 4.0 4.0 4.0
d 100000
100001 to
25 25.0 25.0 29.0
200000
200001 to
34 34.0 34.0 63.0
500000
More than
37 37.0 37.0 100.0
500000
Total 100 100.0 100.0

4%

37% 25% 50000 to 100000
100001 to 200000
200001 to 500000
More than 500000
34%

Interpretation:
From the above graph and chart we can see that about 37% of
investors have their annual income of more than 5 lacs and about 34% of
investors have income between 200001 to 500000 which means that middle
income groups also invest in capital market.

ANALYSIS:
1. Do you invest in capital market?

1. INVEST
N Valid 100
Missing 0
Mean 1.00
Median 1.00
Mode 1
Std. Deviation .000

Freque Valid Cumulative
Vali YES
100 100.0 100.0 100.0
d

Valid YES

Frequency

100%

Interpretation: -
From the above chart we can see that all the investors do invest in
capital market.
Here the mean, median and mode are 1 that means 100% investors
invest in capital market.

2. Choose the alternative for investment given below for broking
firms.

Various investment avenues with age group

Null Hypothesis (H0): There is no significance association between various
investment avenues with age group.
Alternative Hypothesis (H1): There is significance association between
various investment avenues with age group.
Significance Level: We test our hypothesis at 95% confidence level i.e. the
chance of occurring error is 5%.

Cases
Valid Missing Total
N Percent N Percent N Percent
2.EQUITIES *
100 100.0% 0 .0% 100 100.0%
AGE
2.DERIVATIVES
100 100.0% 0 .0% 100 100.0%
* AGE
2.COMMODITIE
100 100.0% 0 .0% 100 100.0%
S * AGE
2.INSURANCE *
100 100.0% 0 .0% 100 100.0%
AGE
2.GOVT.BONDS
100 100.0% 0 .0% 100 100.0%
* AGE
2.MF * AGE 100 100.0% 0 .0% 100 100.0%
2.FD * AGE 100 100.0% 0 .0% 100 100.0%
2.PPF * AGE 100 100.0% 0 .0% 100 100.0%
2.REAL ESTATE
100 100.0% 0 .0% 100 100.0%
* AGE
2.OTHERS *
100 100.0% 0 .0% 100 100.0%
AGE

2.EQUITIES * AGE

Crosstab
AGE Total
19 TO 31 TO ABOVE 19 TO
30 40 50 30
2.EQUIT NO
6 0 1 7
IES INVEST
INVEST 55 8 30 93
Total 61 8 31 100

Chi-Square Tests

Asymp.
Sig. (2-
Value df sided)
Pearson Chi-
.855(a) 2 .652
Square
Likelihood
1.556 2 .459
Ratio
Linear-by-
Linear .012 1 .911
Association
N of Valid
100
Cases

a. 2 cells (33.3%) have expected count less than 5. The minimum expected
count is .71.

Interpretation:
From the above chart we can see that Pearson’s chi square value is
0.855 and its associated probability is 0.652, which is more than 0.05,
which means that there is no statistically significance difference in the
investment in Equities and Age.

2. DERIVATIVES * AGE

Crosstab
AGE Total
30 40 50 30
2.DERIVAT NO
36 8 32 75
IVES INVEST
INVEST 25 0 0 25
Total 61 8 32 100

Chi-Square Tests

Asymp.
Sig. (2-
Value df sided)
Pearson Chi- 16.719(
2 .000
Square a)
Likelihood
20.336 2 .000
Ratio
Linear-by-
Linear 15.615 1 .000
Association
N of Valid
100
Cases

a. 1 cell (16.7%) has expected count less than 5. The minimum expected
count is 2.12.

Interpretation:
16.719 and its associated probability is 0.000, which is less than 0.05,
which means that there is statistically significance relation in the
investment in Derivatives and Age.

2. COMMODITIES * AGE

Crosstab
AGE Total
30 40 50 30
2.COMMOD NO
53 8 33 94
ITIES INVEST
INVEST 6 0 0 6
Total 59 8 33 100

Chi-Square Tests

Asymp.
Sig. (2-
Value Df sided)
Pearson Chi- 5.835(a
2 .054
Square )
Likelihood
8.679 2 .013
Ratio
Linear-by-
Linear 5.005 1 .025
Association
N of Valid
100
Cases
a. 3 cells (50.0%) have expected count less than 5. The minimum
expected count is .63.

Interpretation:
5.679 and its associated probability is 0.054, which is more than 0.05,
investment in Commodities and Age.

2. INSURANCE * AGE

Crosstab
AGE Total
30 40 50 30
2.INSURA NO
55 8 30 91
NCE INVEST
INVEST 6 0 3 9
Total 61 8 33 100

Chi-Square Tests

Asymp.
Sig. (2-
Value df sided)
Pearson Chi-
.855(a) 2 .652
Square
Likelihood
1.556 2 .459
Ratio
Linear-by-
Linear .012 1 .911
Association
N of Valid
100
Cases

count is .71.

Interpretation:
From the above chart we can see that Pearson’s chi square value
is 0.855 and its associated probability is 0.652, which is more than 0.05,
investment in Insurance and Age.

2. GOVT.BONDS * AGE

Crosstab
AGE Total
30 40 50 30
2.GOVT.BO NO
62 8 30 100
NDS INVEST
Total 62 8 30 100

Chi-Square Tests

Value
Pearson Chi-
.(a)
Square
N of Valid
100
Cases

a. No statistics are computed because 2.GOVT.BONDS is a constant.

Interpretation:
The Chi-square test is carried out at 95% confidence level
(0.05 significance level). There is no statistical significant relation between
government bonds and age.

2. MF * AGE

Crosstab
AGE Total
30 40 50 30
2.M NO
31 4 30 65
F INVEST
INVEST 28 4 3 35
Total 59 8 33 100

Chi-Square Tests

Asymp.
Sig. (2-
Value df sided)
Pearson Chi- 15.596(
2 .000
Square a)
Likelihood
17.872 2 .000
Ratio
Linear-by-
Linear 14.808 1 .000
Association
N of Valid
100
Cases

a. 1 cell (16.7%) has expected count less than 5. The minimum expected
count is 2.90.

Interpretation:
15.596 and its associated probability is 0.000, which is less than 0.05,
which means that there is some statistically significant relation in the
investment in Mutual Fund and Age.

2. PPF * AGE

Crosstab

AGE Total
30 40 50 30
2.PP NO
59 8 33 100
F INVEST
Total 59 8 33 100

Chi-Square Tests

Value
Pearson Chi-
.(a)
Square
N of Valid
100
Cases

a . No statistics are computed because 2.PPF is a constant.

Interpretation:
The Chi-square test is carried out at 95% confidence level (0.05
significance level). There is no statistical significant relation between
government bonds and age.

2.REAL ESTATE * AGE
Crosstab

AGE Total
30 40 50 30
2.REA NO
55 8 33 96
L INVEST
ESTA INVEST
4 0 0 4
TE
Total 59 8 33 100

Chi-Square Tests

Asymp.
Sig. (2-
Value df sided)
Pearson Chi- 4.285(a
4 .369
Square )
Likelihood
6.420 4 .170
Ratio
Linear-by-
Linear 1.344 1 .246
Association
N of Valid
100
Cases

count is .08.

Interpretation:
4.285 and its associated probability is 0.3.69, which is more than 0.05,
which means that there is no statistically significance relation in the
investment in Real Estate and Age.

3. Which broking firm comes to your mind first while making
investment?

3.INDIA 3.MOTI 3.I 3. SHA
3.IL&FS INFO OSW BULLS KHA
N Valid 100 100 100 100 100
Missing
0 0 0 0 0
Mean 0.24 0.38 0.15 0.6 0.17
Median 0 0 0 0 0
Mode 0 0 0 0 0
Std. Deviation 0.429 0.5 0.359 0.4 0.409

Interpretation:
From the above table we can say that the mean value 0.42 of India
Infoline, which is more comparatively to other firms. Therefore we can
say that more investors like to invest through this firm.

Frequency Table

3.IL&FS

Cumulati
Freque Valid ve
Vali NO
INVESTMEN 76 76.0 76.0 76.0
d
T
INVESTMEN
24 24.0 24.0 100.0
T
Total 100 100.0 100.0

3.INDIA INFOLINE
Valid Cumulative
Frequency Percent Percent Percent
Vali NO
d INVESTMENT 62 62.0 62.0 62.0
INVESTMENT 38 38.0 38.0 100.0
Total 100 100.0 100.0

3.MOTILAL OSWAL

Cumulati
Freque Valid ve
Vali NO
d INVESTMEN 85 85.0 85.0 85.0
T
INVESTMEN
15 15.0 15.0 100.0
T
Total 100 100.0 100.0

3.I BULLS

Cumulati
Freque Valid ve
Vali NO
d INVESTMEN 94 94.0 94.0 94.0
T
INVESTMEN
6 6.0 6.0 100.0
T
Total 100 100.0 100.0

3. SHARE KHAN

Cumulati
Freque Valid ve
Vali NO
d INVESTMEN 83 83.0 83.0 83.0
T
INVESTMEN
17 17.0 17.0 100.0
T
Total 100 100.0 100.0

4. Are you aware of the following broking firms?

Statistics

4.OTHE
4.INDIA 4.I 4. 4.SHARE 4.MOT
INFO BULLS IL&FS KHAN OSW RS
N Valid 100 100 100 100 100 100
Missing 0 0 0 0 0 0
Mean .65 .25 .41 .34 .35 .00
Median 1.00 .00 .00 .00 .00 .00
Mode 1 0 0 0 0 0
Std. Deviation .479 .435 .494 .476 .479 .000

4.INDIA INFOLINE
Freque Percent Valid Cumulati
ncy Percent ve

Percent
Vali NO
d INVESTMEN 35 35.0 35.0 35.0
T
INVESTMEN
65 65.0 65.0 100.0
T
Total 100 100.0 100.0

4. INDIA BULLS

Cumulati
Freque Valid ve
Vali NO
d INVESTMEN 75 75.0 75.0 75.0
T
INVESTMEN
25 25.0 25.0 100.0
T
Total 100 100.0 100.0

4. IL&FS

Cumulati
Freque Valid ve
Vali NO
d INVESTMEN 59 59.0 59.0 59.0
T
INVESTMEN
41 41.0 41.0 100.0
T
Total 100 100.0 100.0

4.SHAREKHAN

Cumulati
Freque Valid ve
Vali NO
d INVESTMEN 66 66.0 66.0 66.0
T
INVESTMEN
34 34.0 34.0 100.0
T
Total 100 100.0 100.0

4.MOTILAL OSWAL
Cumulati
Freque Valid ve
Vali NO
d INVESTMEN 65 65.0 65.0 65.0
T
INVESTMEN
35 35.0 35.0 100.0
T
Total 100 100.0 100.0

AWARENESS

35 32
30
25 21
20 17 18
AWARENESS
15 12
10
5
0
INDIA INDIA IL&FS SHARE MOTILAL
INFOLINE BULLS KHAN

Interpretation:

From the above chart we can say that the respondents are more aware about the
company India Infoline and so they do invest in that firm.

5. Do you trade with the following broking firms?

TRADE

Frequency Percent Valid Percent Cumulative Percent
Vali YES 95 95.0 95.0 95.0
d NO 5 5.0 5.0 100.0
Total 100 100.0 100.0

5%

YES
NO

95%

Interpretation:
The above chart represents that about 95% of the investors utilize the services of
more than one broking firm. Thus the investors may have utilized the services of
the following broking firms i.e. India Infoline, India Bulls, IL&FS, Share Khan and
Motilal Oswal.
6. How frequently do you trade?

Cumulati
Freque Valid ve
DAILY 49 49.0 49.0 49.0
TWICE IN A
21 21.0 21.0 70.0
WEEK
ALTERNATIV
10 10.0 10.0 80.0
E DAY
WEEKLY 11 11.0 11.0 91.0
RARELY 9 9.0 9.0 100.0
Total 100 100.0 100.0

9%
11% DAILY
49% TWICE IN A WEEK
ALTERNATIVE DAY
10% WEEKLY
RARELY
21%

Interpretation:

From the above chart we can say that the investors trade on daily basis or may
be for delivery basis i.e. in future. So about 49% of investors trade on daily basis i.e.
intraday. About 21% invest twice in a week. About 10% invest in alternative day,
11% weekly on any day, and 9% rarely.

7. Please indicate your preference for the following in selection of broking
firm.

8. Which parameter do you consider important in selection of the broking
firm?

Factor Analysis:
KMO and Bartlett's Test

Kaiser-Meyer-Olkin Measure of
.578
Sampling Adequacy.
Bartlett's Test Approx. Chi- 290.69
of Sphericity Square 0
Df 55
Sig. .000

Communalities

Extract
Initial ion
7.EFFECT
1.000 .585
SERVICE
7.RELIABLE 1.000 .679
7.COURTESY 1.000 .885
7.OFFLINE 1.000 .526
7.ADVISORY 1.000 .579
7.SOFTWARE 1.000 .666
8.BROCKRAG
1.000 .685
E
8.D.P. 1.000 .762
8.RISK 1.000 .788
8.TAX 1.000 .763
8.RETURNS 1.000 .416

Explained

Extraction
Sums of
Squared Rotation Sums of Squared
Initial Eigenvalues Loadings Loadings
% OfCumulative % of % ofCumulative
Component Total Variance % Total VarianceTotal Variance %
1 2.87126.098 26.098 2.87126.098 2.42822.073 22.073
2 1.77616.15 42.248 1.77616.15 1.82516.595 38.668
3 1.47 13.368 55.616 1.47 13.368 1.76616.054 54.723
4 1.21511.042 66.658 1.21511.042 1.31311.936 66.658
5 0.9598.721 75.379
6 0.7456.777 82.156
7 0.5675.152 87.308
8 0.4694.264 91.572
9 0.3773.425 94.996
10 0.2942.669 97.666
11 0.2572.334 100

Component Matrix (a)

Component
1 2 3 4
7.EFFECT
.639 -.042 -.406 .102
SERVICE
7.RELIABLE .556 -.144 -.573 .140
7.COURTESY .228 .432 -.095 .798
7.OFFLINE .282 .638 -.159 -.115
7.ADVISORY .613 -.446 .019 .069
7.SOFTWARE .426 -.626 .304 .018
8.BROCKRAG
.473 .277 .617 -.057
E
8.D.P. .422 .050 .645 .407
8.RISK .736 -.071 .063 -.488
8.TAX .389 .696 .061 -.350
8.RETURNS .608 -.004 -.214 .013

Rotated Component Matrix (a)

Component
1 2 3 4
7.EFFECT
.750 .004 .120 .088
SERVICE
7.RELIABLE .796 -.174 .011 .119
7.COURTESY .199 .197 .161 .883
7.OFFLINE .147 .003 .697 .138
7.ADVISORY .607 .331 -.274 -.161
7.SOFTWARE .348 .461 -.490 -.305
8.BROCKRAG
.000 .755 .328 -.088
E
8.D.P. .039 .834 -.060 .247
8.RISK .546 .334 .289 -.543
8.TAX .088 .200 .840 -.100
8.RETURNS .610 .133 .161 -.007

Extraction Method: Principal Component Analysis.
Rotation Method: Varimax with Kaiser Normalization.
Rotation converged in 6 iterations.

Component Transformation Matrix

Compon
ent 1 2 3 4
1 .820 .510 .246 -.085
2 -.244 .023 .894 .376
3 -.511 .839 -.093 -.163
4 .086 .189 -.363 .908

Interpretation:

Factor Analysis:-

Factor Analysis is a general term for several specific
computational techniques. All have the objectives of reducing to a
manageable number many variables that belong together and have
overlapping measurement characteristics. The predictor-criterion
relationship that was found in the dependence situation is replaced by
matrix of inter correlation among several variable, non of which is viewed as
being depended on other.

Inference:
From the above table we come to know that from various parameters,
the investors have selected some major parameters, which are very essential
for any investors who invest in the broking firms. These parameters help the
investors to take decisions whether to continue with the existing broking
firm.
We might interpret the above results as showing four kinds of factors
which has been filtered and they are:

(A) SERVICES:

Effective services and advisory services
The investors who choose the broking firm which provide
effective services as well as advisory services by Relationship
Managers

(B) COST:

The charges of the broking firm i.e. the brokerage as well as the tax

charged and the D.P.charges.

(C) FLEXIBILITY:
It includes the employee courtesy, offline services and firms reliability.
The last parameter is the employees’ courtesy, which is very important,
as there must be good relationship between the investors and firm for the
long term.

9. Have you utilized the trading facilities of more than one
broking firms?

Statistics

9.INDIA 9.MOT 9.I
INFO 9.IL&FS OSW BULLS9.SHAREKHAN
N Valid 100 100 100 100 100
Missing0 0 0 0 0
Mean 0.28 0.14 0.22 0.08 0.1
Median 0 0 0 0 0
Mode 0 0 0 0 0
Std.
Deviation 0.451 0.349 0.416 0.273 0.302

Interpretation:

From the above chart we can say that the investors do invest in more
than one broking firms. From the above chart we get mean of India Infoline
0.28 which is much more high compare to other broking firms.

10. Rate the following broking firms in given criterions.

BROKERAGE

10.INF 10. 10.IL&
O MOTI 10.I FS 10.SK
BROK BROK BULLS BROK BROK
G G BROKG. G G
N Valid 100 100 100 100 100
Missing 0 0 0 0 0
Mean 3.83 3.71 3.05 4.20 2.35
Median 4.00 4.00 3.00 5.00 2.50
Mode 4 4 3 5 1
Std. Deviation .985 1.094 1.140 1.119 1.486

Frequency Table

INDIA INFOLINE BROKERAGE

Valid Cumulative
FrequencyPercent Percent Percent
VALIDWORST 4 4 4 4
BAD 1 1 1 5
NEUTRAL
27 27 27 32
GOOD 43 43 43 75
VERY
GOOD 25 25 25 100
Total 100 100 100

MOTILAL BROKERAGE
Valid Cumulative

VALIDWORST 3 3 3 3
BAD 10 10 10 13
NEUTRAL
26 26 26 39
GOOD 34 34 34 73
VERY
GOOD 27 27 27 100
Total 100 100 100

INDIA BULLS BROKERAGE

Valid Cumulative
VALIDWORST 6 6 6 6
BAD 26 26 26 32
NEUTRAL
39 39 39 71
GOOD 14 14 14 85
VERY
GOOD 15 15 15 100
Total 100 100 100

IL&FS BROKERAGE
Valid Cumulative
BAD 9 9 9 9
NEUTRAL
20 20 20 29
GOOD 11 11 11 40
VERY
GOOD 60 60 60 100
Total 100 100 100

SHARE KHAN BROKERAGE

Valid Cumulative
WORST 48 48 48 48

BAD 2 2 2 50
NEUTRAL
30 30 30 80
GOOD 6 6 6 86
VERY
GOOD 14 14 14 100
Total 100 100 100

Brokerage

70
60
60
48 WORST
50 43
percentage

39 BAD
40 34
27 30 NEUTRAL
30 25 26 27 26
20 GOOD
20 1415 14
10
6 9 11 6 VERY GOOD
10 4 3 2
1 0
0
INDIA INFO MOTILAL INDIA BULLS IL&FS SHARE KHAN
OSWAL
firms

Interpretation:

From the above chart we can say that there is a comparison between
5 broking firms. From the above result we get the best firm for the
brokerage charges is IL&FS with 60% and then after comes Motilal Oswal
with 27%.

10. INVESTMENT ADVISORY SERVICES

Statistics

10.INFO 10.MOTI 10. I BULLS10.IL&FS 10.SK
INVSTMENT INVESTMENT INVESTMENT INVESTMENT INVESTMENT
N Valid 100 100 100 100 100
Missing0 0 0 0 0
Mean 3.8 3.78 3.13 3.26 2.7
Median 4 3.5 3 3 3
Mode 4 3 3 5 3
Std. 1.146 1.04 1.143 1.411 1.389
Deviation

INDIA INFOLINE ADVISORY SERVICES

Valid Cumulative
VALIDWORST 8 8 8 8
BAD
3 3 3 11
NEUTRAL
16 16 16 27
GOOD
46 46 46 73
VERY
GOOD
27 27 27 100
Total
100 100 100

MOTILAL OSWAL INVESTMENT ADVISORY
SERVICES
Valid Cumulative
ValidWORST 1 1 1 1

BAD 4 4 4 5
NEUTRAL
45 45 45 50
GOOD
15 15 15 65
VERY
GOOD
35 35 35 100
Total
100 100 100

INDIA BULLS INVESTMENT ADVISORY SERVICES

Valid Cumulative
VALIDWORST 9 9 9 9
BAD
17 17 17 26
NEUTRAL
37 37 37 63
GOOD
25 25 25 88
VERY
GOOD
12 12 12 100
Total
100 100 100

IL&FS INVESTMENT ADVISORY SERVICES

Valid Cumulative
VALIDWORST 14 14 14 14

BAD
17 17 17 31
NEUTRAL
24 24 24 55
GOOD
18 18 18 73
VERY
GOOD
27 27 27 100
Total
100 100 100

SHARE KHAN INVESTMENT ADVISORY SERVICES

Valid Cumulative
VALIDWORST 24 24 24 24
BAD
21 21 21 45
NEUTRAL
33 33 33 78
GOOD
5 5 5 83
VERY
GOOD
16 16 16 100
Total 100 100 100

Investment advisory services

50 46 45

40 35 37
33 WORST
percentage

30 27 25 27 BAD
24 24
21 NEUTRAL
20 16 15 17 17 18 16
12 14 GOOD
8 9
10 4 5 VERY GOOD
3 1
0
INDIA MOTILAL INDIA IL&FS SHARE
INFO OSWAL BULLS KHAN
firms

Interpretation:

Investment advisory services are the services provided by the broking
firms. From the above table we get the result that Motilal Oswal is having
the highest percent 35% which is good and we can say that Motilal
Oswal provide better investment advisory services.

10. ONLINE SERVICES (SOFTWARE)

Statistics

10.INFO 10.MOTI 10.I BULLS10.IL&FS 10.SK
SOFTWARE SOFTWARE SOFTWARE SOFTWARE SOFTWARE
NValid 100 100 100 100 100
Missing 0 0 0 0 0
Mean 3.26 2.85 2.77 2.48 2.9
Median 4 3 3 2 3
Mode 5 3 3 1 2
Std.
Deviation 1.599 1.201 1.278 1.541 1.418

Frequency Table

10.INFOLINE SOFTWARE
Cumulati
Freque Perce Valid ve
ncy nt Percent Percent
Vali WORST
26 26.0 26.0 26.0
d
BAD 4 4.0 4.0 30.0
NEUTRA
19 19.0 19.0 49.0
L
GOOD 19 19.0 19.0 68.0
VERY
32 32.0 32.0 100.0
GOOD
Total 100 100.0 100.0

10.MOTILAL OSWAL SOFTWARE

Cumulati
Freque Valid ve
Vali WORST 15 15.0 15.0 15.0
BAD 22 22.0 22.0 37.0
d
NEUTRA
35 35.0 35.0 72.0
L
GOOD 18 18.0 18.0 90.0
VERY
10 10.0 10.0 100.0
GOOD
Total 100 100.0 100.0

10.I BULLS SOFTWARE
Cumulati
Freque Valid ve
Vali WORST 20 20.0 20.0 20.0
d BAD 22 22.0 22.0 42.0
NEUTRA
28 28.0 28.0 70.0
L
GOOD 20 20.0 20.0 90.0
VERY
10 10.0 10.0 100.0
GOOD
Total 100 100.0 100.0

0.IL&FS SOFTWARE
Valid Cumulative
Vali WORST 42 42.0 42.0 42.0
d BAD 10 10.0 10.0 52.0
NEUTRAL 23 23.0 23.0 75.0
GOOD 7 7.0 7.0 82.0
VERY
18 18.0 18.0 100.0
GOOD
Total 100 100.0 100.0

10.SHARE KHAN SOFTWARE

Freque Valid Cumulative
Vali WORST
18 18.0 18.0 18.0
d
BAD 26 26.0 26.0 44.0
NEUTRA
25 25.0 25.0 69.0
L
GOOD 9 9.0 9.0 78.0
VERY
22 22.0 22.0 100.0
GOOD
Total 100 100.0 100.0

software

45 42
40 35
35 32 WORST
28
30 26 26
percentage

23 25 BAD
25 22 22 22
19
19 18 20 20 18 18 NEUTRAL
20 15
15 10 10 10 GOOD
9
10 7 VERY GOOD
4
5
0
firms

Interpretation:
From the frequency distribution we can say that mean of
India Infoline is 3.26, which is high compare to other broking firms.
So we can say that India Infoline provide better software services.

10. OFFLINE SERVICE

Statistics

10.INFO MOTI 10.I.BULLS 10.IL&FS 10.SK
OFFLINE OFFLINE OFFLINE OFFLINE OFFLINE
N Valid 100 100 100 100 100
Missing0 0 0 0 0
Mean 3.78 3.22 3.4 3.66 2.96
Median 4 3 3 4 3
Mode 5 3 3 5 3
Std.
Deviation1.338 1.292 1.101 1.35 1.377

Frequency Table

10.INFOLINE OFFLINE
Valid Cumulative
Vali WORST 11 11.0 11.0 11.0
d BAD 2 2.0 2.0 13.0
NEUTRAL 26 26.0 26.0 39.0
GOOD 19 19.0 19.0 58.0
VERY
42 42.0 42.0 100.0
GOOD
Total 100 100.0 100.0

MOTILAL OSWAL OFFLINE
Valid Cumulative
Vali WORST 13 13.0 13.0 13.0
d BAD 11 11.0 11.0 24.0
NEUTRAL 37 37.0 37.0 61.0
GOOD 18 18.0 18.0 79.0
VERY
21 21.0 21.0 100.0
GOOD
Total 100 100.0 100.0

10.I.BULLS OFFLINE

Valid Cumulative
Vali WORST 5 5.0 5.0 5.0
d BAD 8 8.0 8.0 13.0
NEUTRAL 50 50.0 50.0 63.0
GOOD 15 15.0 15.0 78.0
VERY
22 22.0 22.0 100.0
GOOD
Total 100 100.0 100.0

10.IL&FS OFFLINE
Valid Cumulative
Vali WORST 8 8.0 8.0 8.0
d BAD 13 13.0 13.0 21.0
NEUTRAL 22 22.0 22.0 43.0
GOOD 18 18.0 18.0 61.0
VERY
39 39.0 39.0 100.0
GOOD
Total 100 100.0 100.0

10.SHARE KHAN OFFLINE
Valid Cumulative
Vali WORST 24 24.0 24.0 24.0
d BAD 3 3.0 3.0 27.0
NEUTRAL 43 43.0 43.0 70.0
GOOD 12 12.0 12.0 82.0
VERY
18 18.0 18.0 100.0
GOOD
Total 100 100.0 100.0

offline services

60
50
50 42 43
39 WORST
37
40
percentage

BAD
30 26 24 NEUTRAL
21 22 22
19 18 18 1818
20 15 GOOD
11 1311 13
8 8 VERY GOOD
10 5 3
2
0
INDIA INFO MOTILAL INDIA BULLS IL&FS SHARE
OSWAL KHAN
firms

Interpretation:

From the frequency distribution we get mean as 3.78, which is high
compare to other broking firms. So we can say that India Infoline
provide better offline services.

10. PORTFOLIO MANAGEMENT

Statistics

10.INFO 10.MOTI 10.I BULLS10.IL&FS 10.SK
PORTFOLIO PORTFOLIO PORTFOLIO PORTFOLIO PORTFOLIO
N Valid 100 100 100 100 100
Missing0 0 0 0 0
Mean 3.53 3.2 3.07 3.38 3.07
Median 4 3 3 3 3
Mode 5 4 3 3 3
Std.
Deviation1.344 1.271 1.157 1.062 1.273

Frequency Table

10.INFOLINE PORTFOLIO
Valid Cumulative
Vali WORST 9 9.0 9.0 9.0
d BAD 16 16.0 16.0 25.0
NEUTRAL 18 18.0 18.0 43.0
GOOD 26 26.0 26.0 69.0
VERY
31 31.0 31.0 100.0
GOOD
Total 100 100.0 100.0

10.MOTILAL OSWAL PORTFOLIO
Valid Cumulative
Vali WORST 11 11.0 11.0 11.0
d BAD 19 19.0 19.0 30.0
NEUTRAL 25 25.0 25.0 55.0
GOOD 28 28.0 28.0 83.0
VERY
17 17.0 17.0 100.0
GOOD
Total 100 100.0 100.0

10.I BULLS PORTFOLIO
Valid Cumulative
Vali WORST 11 11.0 11.0 11.0
d BAD 14 14.0 14.0 25.0
NEUTRAL 44 44.0 44.0 69.0
GOOD 18 18.0 18.0 87.0
VERY
13 13.0 13.0 100.0
GOOD
Total 100 100.0 100.0

10.IL&FS PORTFOLIO

Valid Cumulative
Vali WORST 6 6.0 6.0 6.0
BAD 9 9.0 9.0 15.0
d
NEUTRAL 39 39.0 39.0 54.0
GOOD 32 32.0 32.0 86.0
VERY
14 14.0 14.0 100.0
GOOD
Total 100 100.0 100.0

10.SHARE KHAN PORTFOLIO

Valid Cumulative
Vali WORST 11 11.0 11.0 11.0
d BAD 21 21.0 21.0 32.0
NEUTRAL 37 37.0 37.0 69.0
GOOD 11 11.0 11.0 80.0
VERY
20 20.0 20.0 100.0
GOOD
Total 100 100.0 100.0

portfolio management

50 44
45 39
40 37 WORST
35 31 32 BAD
28
percentage

30 26 25 NEUTRAL
25 21 20
18 19 17 18 GOOD
20 16
14 13 14
15 11 11 11 11 VERY GOOD
9 9
10 6
5
0
firms

Interpretation:

From the above chart we get the result as the best service of
portfolio management is provided by India Infoline which is good other
than various broking firms.

10. CUSTOMERS RELATIONSHIP
10. I
10.INFO 10.MOTI BULLS 10.IL&FS 10.SK
C.R. C.R. C.R. C.R. C.R.
N Valid 100 100 100 100 100
Missing 0 0 0 0 0
Mean 3.72 2.97 2.96 3.36 2.83
Median 4 3 3 3 3
Mode 5 3 3 5 3
Std. Deviation 1.296 1.193 1.247 1.299 1.207

Frequency Table

10.INFO CUSTOMER RELATIONSHIP.
Cumulati
Freque Valid ve
Vali WORST 8 8.0 8.0 8.0
d BAD 10 10.0 10.0 18.0
NEUTRA
19 19.0 19.0 37.0
L
GOOD 27 27.0 27.0 64.0
VERY
36 36.0 36.0 100.0
GOOD
Total 100 100.0 100.0

10.MOTILAL OSWAL CUSTOMER RELATIONSHIP
Cumulati
Freque Valid ve
Vali WORST 13 13.0 13.0 13.0
d BAD 17 17.0 17.0 30.0
NEUTRA
42 42.0 42.0 72.0
L
GOOD 15 15.0 15.0 87.0
VERY
13 13.0 13.0 100.0
GOOD
Total 100 100.0 100.0

10. INDIA BULLS CUSTOMER RELATIONSHIP
Cumulati
Freque Valid ve
Vali WORST 19 19.0 19.0 19.0
d BAD 6 6.0 6.0 25.0
NEUTRA
47 47.0 47.0 72.0
L
GOOD 15 15.0 15.0 87.0
VERY
13 13.0 13.0 100.0
GOOD
Total 100 100.0 100.0

10.IL&FS CUSTOMER RELATIONSHIP
Cumulati
Freque Valid ve
Vali WORST 5 5.0 5.0 5.0
d BAD 26 26.0 26.0 31.0
NEUTRA
24 24.0 24.0 55.0
L
GOOD 17 17.0 17.0 72.0
VERY
28 28.0 28.0 100.0
GOOD
Total 100 100.0 100.0

10.SHARE KHAN CUSTOMER RELATIONSHIP
Cumulati
Freque Valid ve
Vali WORST 22 22.0 22.0 22.0
BAD 6 6.0 6.0 28.0
d
NEUTRA
45 45.0 45.0 73.0
L
GOOD 20 20.0 20.0 93.0
VERY
7 7.0 7.0 100.0
GOOD
Total 100 100.0 100.0

customer relation

50 47 45
45 42
40 36
WORST
35
26 28
percentage

30 27 BAD
24 22
25 19 19 20 NEUTRAL
20 17 17
13 15
13 15
13 GOOD
15
810 6 6 7 VERY GOOD
10 5
5
0
firms

Interpretation:

From the above graph we can see that about 36% is for India Infoline
and then comes IL&FS with 28%.
From the frequency distribution we can say that mean is 3.72,
which is high compare to other broking firms. So we can say that
India Infoline provide better customer relation services.

11. What extra services you want from broking firms?

11.PERSONAL 11.
11.PAYMENT SERVICES 11.RESEARCH11.VALUE OTHERS
N Valid 100 100 100 100 100
Missing0 0 0 0 0
Mean 0.9 0.15 0.46 0.12 0
Median 1 0 0 0 0
Mode 1 0 0 0 0
Std.
Deviation0.302 0.359 0.501 0.327 0

Frequency Table

11.PAYMENT

Cumulati
Freque Valid ve
Vali NO SERVICES
10 10.0 10.0 10.0
d PREFERED
PREFERABLE
90 90.0 90.0 100.0
SERVICES
Total 100 100.0 100.0

11.PERSONAL SERVICES
Cumulati
Freque Valid ve
Vali NO SERVICES
85 85.0 85.0 85.0
d PREFERED
PREFERABLE
15 15.0 15.0 100.0
SERVICES
Total 100 100.0 100.0

11.RESEARCH
Cumulati
Freque Valid ve
Vali NO SERVICES
54 54.0 54.0 54.0
d PREFERED
PREFERABLE
46 46.0 46.0 100.0
SERVICES
Total 100 100.0 100.0

11.VALUE ADDITION

Cumulati
Freque Valid ve
Vali NO SERVICES
88 88.0 88.0 88.0
d PREFERED
PREFERABLE
12 12.0 12.0 100.0
SERVICES
Total 100 100.0 100.0

extra services

60 55.21
50
35.86 37.13
percentage
40 NO SERVICE
28.22 PREFERED
30 22.78
SERVICE PREFERED
20
9.2 7.36
10 4.22
0
PAYMENT

VALUE
RESEARCH
PERSONAL
SERVICES

REGULAR

Interpretation:
Investors want some extra services from the broking firms so
the most preferred services are the timely payments and regular
research, which are preferred by the investors.

12. If you want to shift on to other broking firm, what are your
criterions?

12. 12.MARGIN 12.ADV 12. 12. 12.
BROKGE MONEY SER SOFTWARE DISTANCE OTHERS
N Valid 100 100 100 100 100 100
Missing0 0 0 0 0 0
Mean 0.71 0.2 0.4 0.21 0.3 0
Median 1 0 0 0 0 0
Mode 1 0 0 0 0 0
Std.
Deviation 0.456 0.402 0.492 0.409 0.461 0

Frequency Table

12. BROKERAGE
Cumulati
Freque Valid ve
Vali NO SERVICES
29 29.0 29.0 29.0
PREFERED
d
PREFERABLE
71 71.0 71.0 100.0
SERVICES
Total 100 100.0 100.0

12.MARGIN MONEY
Cumulati
Freque Valid ve
Vali NO SERVICES
80 80.0 80.0 80.0
PREFERED
d
PREFERABLE
20 20.0 20.0 100.0
SERVICES
Total 100 100.0 100.0

12.ADV SER
Cumulati
Freque Valid ve
Vali NO SERVICES
60 60.0 60.0 60.0
d PREFERED
PREFERABLE
40 40.0 40.0 100.0
SERVICES
Total 100 100.0 100.0

12. SOFTWARE
Valid Cumulative

Vali NO SERVICES
79 79.0 79.0 79.0
d PREFERED
PREFERABLE
21 21.0 21.0 100.0
SERVICES
Total 100 100.0 100.0

12. DISTANCE
Valid Cumulative
Vali NO SERVICES
70 70.0 70.0 70.0
d PREFERED
PREFERABLE
30 30.0 30.0 100.0
SERVICES
Total 100 100.0 100.0
criteria

45
39
40
35
30
percentage

25.16 24.84 NO SERVICE PREFERED
25 21.98 22
18.87 SERVICES PREFERED
20 16.48
15 11 11.54
9.12
10
5
0
BROKERAGE MARGIN ADVISORY EASY DISTANCE
MONEY SERVICES SOFTWARE

Interpretation
From the above graph we can say that the basic parameters,
which are selected for shifting of the broking firms, would be
brokerage charges, advisory services. Even distance also matters the
most, as the investors prefer the firm to be near their house.

FINDINGS:

I. Investors are interested in investing in capital market and majority
belongs to age 31 to 40 and they are service class as well as business
class people.
II. Basically the respondents invest in equities as well as mutual funds.
III. The respondents are aware of the broking firms and many of them
invest in more than one broking firms.
IV. The respondents prefer intraday trading and delivery based trading.
V. The respondents prefer basic services from the broking firms such as
effective services, offline services, advisory services, and negotiable
brokerages, assured returns form investment.
VI. There are unique services provided by the broking firms that attract
the customers towards the broking firms.
VII. The broking firms thus provide some special services so that the
customers are satisfied and do not shift to other broking firm.
VIII. The services include timely payments, regular research, advisory
services, distance etc.

CONCLUSION:

1. Investors rather prefer to invest for short duration and trade
on intraday basis.
2. People are aware of the broking firms and thus are interested
in brokerages, offline services, margin money as well as day-
to-day advisory services.
3. If we talk about the broking firms, every firm has its unique
features. There is no product differentiation provided by
various firms but the brand name also matters for them.
4. The investor wants services such as frequent investors meet,
better advisory services, etc, provided by the broking firms
matters the most.
5. Thus due to online trading there is need of broking firms and
they provide better services so that the customers do not shift
to other firms.

RECOMMENDATIONS

1. From the above findings we can say that India Infoline is providing
better services such as offline service, portfolio management,
customer relationship etc. in compare to other companies. But
should give importance to the brokerage charges and even provide
better online services.

2. India Infoline must give emphasis on customer satisfaction by
providing better advisory services as well as regular investors
meetings.

3. The company must look forward to the brokerage charges, which is
comparatively high from other firms.

BIBLIOGRAPHY

Books

Donald R. Cooper & Pamela S. Schindler(2004), Business Reasearch
Methods, Tata McGraw-Hill Publishing Company Limited, New Delhi.

N D Vohra & B R Bagri, FUTURES AND OPTIONS 2ND editions, Tata
McGraw-Hill Publishing Company Limited, New Delhi.

NCFM, Derivatives Market (Dealers) Module Work Book, National Stock
Exchange Of India Limited, Mumbai.

Other:
BUSINESS TODAY date 17th July 2007

APPENDIX

QUESTIONNAIRE

Area: -__________ Date: -__ /__ /__

Personal Detail

 Name : ____________________________________________________

 Address : __________________________________________________

 Gender: Male / Female

 Age: 19 – 30 31 – 40  41 – 50  Above 50

 Occupation:

 Student  Housewife  Business

 Service  Professionals  Others

 Annual Income:

50000-100000 Rs.

100001-200000 Rs.

200001-500000 Rs.

More than 500001 Rs

QUESTIONNAIRE:

1. Do you invest in capital market?

( ) Yes ( ) No

2. Which investments do you prefer the most profitable?

( ) Equities ( ) Derivatives ( ) Commodities ( ) Insurance

( ) Mutual funds ( ) Fixed deposits ( ) Government Bonds ( )
Real estate

( ) Others then specify__________

3. Which broking firm comes to your mind first while making
investment?

-----------------------------------------------------------------------------

4. Are you aware of following broking firms?

( ) India Infoline ( ) India Bulls ( ) IL&FS ( ) Share khan

( ) Motilal Oswal ( ) any other then specify_________________

5. Do you trade with the following broking firm?

( ) Yes ( ) No

6. How frequently do you trade?

( ) Daily ( ) Twice in a week ( ) Alternative day ( ) weekly

( ) Rarely

7. Please indicate your preference for the following in selection of
broking firm.

1 = most preferable to 5 = least preferable

* Effective service 1 2 3 4 5

* Its reliability 1 2 3 4 5

* Employees courtesy 1 2 3 4 5

* Offline service 1 2 3 4 5

* Advisory service 1 2 3 4 5

* Online service (SOFTWARE) 1 2 3 4 5

8. Which parameters do you consider important in selection of broking
firm?

* Brokerages 1 2 3 4 5

* DP charges 1 2 3 4 5

* Risk 1 2 3 4 5

*Tax charged by the broking firm 1 2 3 4 5

*Assured Return from investment 1 2 3 4 5

9. Have you utilized the trading facility of more than one broking firm?

( ) Yes ( ) No

If Yes then specify___________________

10. Rate the broking firms in given criterions.

1 = Very good, 2 = good, 3 = neutral, 4 = bad, 5= worst

CRITERION INDIA MOTILAL INDIA IL&FS SHAREKHAN
INFOLINE OSWAL BULLS

BROKERAGE

SERVICES

1.
INVESTMENT
ADVISORY
SERVICES

2. ONLINE
SOFTWARE

3. OFFLINE
SERVICES

4. PORTFOLIO
MANAGEMENT

5. CUSTOMER
RELATIONSHIP

USER
FRENDLY

11. What extra services you want from broking firms?

( ) Timely Payment and delivery

( ) Personal services{ Frequent meets, seminars and guidance}

( ) Regular research and correspondence to customers

( ) Value addition( like loans, merchant banking)

( ) If others then specify ----------------------------------------

12. If you want to shift on to other broking firm, what are your
criterions?

( ) Brokerages ( ) Margin Money ( ) Advisory services

( ) Easy software ( ) Distance

( ) If other then specify_______________

Thank you

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