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ACKNOWLEDGEMENT

In completing my project, I am very fortunate to have the Result of an extensive survey whose participants offered suggestions based on their actual use of product. My first appreciation and thanks goes to People surveyed Centre Managers Employees of reliance money They have given their precious time in a very polite and co operative manner for my survey and the project. In the chain I am also immensely thankful to my summer internship guide Mr.Shatki Sinha, centre manager Reliance Money, Kanpur, for his enlightening guidance and constant inspiration and keen interests shown during my summer internship and in preparing of my project. I deliberately profound my gratitude to him.

GAGNEET KAUR BHATIA


Executive summary With gratitude to almighty I thank this oppurtunty to pen down my experience during the execution of summer training and presenting the project report. The project is the part of my partial fulfillment of my PGDBM curriculum. As RELIANCE is doing splendidly well in the sector of SHARE TRADING but staying competitive in today’s dynamic business environment means finding new ways to reduce cost while maximizing the value of your resources. I took the responsibility to find out what perception does RELIANCE holds in the minds of the consumers by comparing the online trading with offline trading in reliance money. After undergoing the training about the product and operational features I started exploring the product and contacted the prospective customer by way of telecalling, e-mails, corporate presentation, my primary aim was to give better options to the prospective customers by offering them products specialized features &its unique incomparable qualities in the services provided by Reliance Money in share trading.i also got the knowledge about the form which is to be filled by the consumer while opening a trading a/c with reliance.I Also got to know about the ECRM software of Reliance.

OBJECTIVES


1.To understand the On-line Trading . 2.To understand the Offline Trading. 3.To do a comparative study of On-line with Offline Trading in reliance Money. 4. To create awareness about the products offered by Reliance Money in the Market. 5.SWOT Analysis of Reliance Money. 6.Analyze the result of Survey conducted.

INDUSTRY PROFILE� RELIANCE-ANIL DHIRUBHAI AMBANI GROUP


Growth through Vision "Growth has no limit at Reliance. I keep revising my vision. Only when you can dream it, you can do it."

Founder Dhirubhai H. Ambani RELIANCE GROUP OF COMPANIES

The Reliance – Anil Dhirubhai Ambani Group is among India’s top three private sector business houses on all major financial parameters, with a market capitalisation of Rs 100,000 crore (US$ 22 billion), net assets in excess of Rs 31,500 crore (US$ 7 billion), and net worth to the tune of Rs 27,500 crore (US$ 6 billion)


Across different companies, the group has a customer base of over 50 million, the largest in India, and a shareholder base of over 8 million, among the largest in the world. Through its products and services, the Reliance - ADA Group touches the life of 1 in 10 Indians every single day. It has a business presence that extends to over 4,500 towns and 300,000 villages in India, and 5 continents across the world. The interests of the Group range from communications (Reliance Communications) and financial services (Reliance Capital Ltd), to generation, transmission and distribution of power (Reliance Energy), infrastructure and entertainment.

Structure


“COMPANY PROFILE” Reliance Capital Ltd Part of Reliance - Anil Dhirubhai Ambani Group.


Reliance Capital is one of India’s leading and fastest growing private sector financial services companies, and ranks among the top 3 private sector financial services and banking companies, in terms of net worth. Reliance Capital has interests in asset management and mutual funds, life and general insurance, private equity and proprietary investments, stock broking and other activities in financial services. RCL is registered as a depository participant with National Securities Depository Ltd (NSDL) and Central Depository Services Ltd (CDSL) under the Securities and Exchange Board of India (Depositories and Participants) Regulations, 1996. RCL has sponsored the Reliance Mutual Fund within the framework of the Securities and Exchange Board of India (Mutual Fund) Regulations, 1996.RCL primarily focuses on funding projects in the infrastructure sector and supports the growth of its subsidiary companies, Reliance Capital Asset Management Limited, Reliance Capital Trustee Co. Limited, Reliance General Insurance Company Limited and Reliance Life Insurance Company Limited. As of March 31, 2005, the company’s investment in infrastructure projects stood at Rs. 1071 Crores. The investment portfolio of RCL is structured in a way that realizes the highest post-tax return on its investments.

BOARD OF DIRECTORS

Amitabh Jhunjhunwala, Vice-Chairman


Amitabh Jhunjhunwala, an FCA, has over 23 years of experience in finance and the capital markets. Amitabh is also the Director of Reliance Capital Asset Management Limited.

•

Shri C. P. Jain Shri C.P. Jain, aged 60 years, is the former Chairman and

Managing Director of National Thermal Power Corporation (NTPC).

•

Rajendra Chitale, Independent Director

Rajendra P. Chitale, an eminent Chartered Accountant, is the Managing Partner of M/s M. P. Chitale & Co. He is a Director on Boards of the National Stock Exchange of India (NSE), Asset Reconstruction Company (India) Ltd, Hinduja TMT Ltd and Gujarat Ambuja Cements Ltd. He is also a member of the Advisory Group on Derivatives and the Takeover Panel, Securities and Exchange Board of India, as well as the Company Law Advisory Committee of the Government of India.He has also served on the boards of Life Insurance Corporation of India, Unit Trust of India, SBI Capital Markets Ltd and Small Industries Development Bank of India..

Reliance Money


“Reliance Money (Distribution House)� The official launch of Reliance Money was announced on 3rd May 2007.Reliance Money is a group company of Reliance Capital; One of India's leading and fastest growing private sector financial services companies, ranking among the top 3 private sector financial services and banking companies, in terms of net worth. Reliance Capital is a part of the Reliance Anil Dhirubhai Ambani Group. Reliance Money is a comprehensive electronic transaction platform offering a wide range of asset classes. Its endeavor is to change the way India transacts in financial markets and avails financial services.

Reliance Money currently deals in the following financial products:

1. Equities /IPO’s / Forex / Commodities.


2. Mutual funds (every Asset Management company in market).

3. Life Insurance (RELIANCE, HDFC, TATA, SBI & LIC). 4. General Insurance (RELIANCE, NEW INDIA, IFFCO TOKYO ROYALE SUNDARAM). 5. Credit Cards. 6. Loans. 7. Portfolio Investments. 8. Money Transfer 9. Offshore investments


RELIANCE MONEY SHARE TRADING ACCOUNT

Reliance Money unlike other brokering houses has introduced a new prepaid system of brokerage for the share trading in which it provides the lowest form of brokerage charged from an investor.

Reliance money has introduced three prepaid schemes for the stock market investors which work in the following way: FOR LARGE INVESTORS:

Access Fee

Validity

Validity

Turnover Limit

Turnover Limit

Whichever is Earlier Time Validity

Whichever is Earlier Turnover Validity

Delivery Turnover

Rs. 1 Cr.

NonDelivery Turnover Rs. 90 Lac

500

2 months

1350

6 months

Rs. 3 Cr.

Rs. 2.7 Cr.

Rs. 30 Lac

2500

12 months

Rs. 6 Cr.

Rs. 5.4 Cr.

Rs. 60 Lac

Rs. 10 Lac


FOR SMALL INVESTORS For small investors Reliance had an under scheme of Rs.500 in which • • •

Time validity is of one year Turnover limit is Rs. 5 Lacs (Either you can do Intraday or Delivery, no fix ratio). Margin of 5 times on Intraday and no Margin on Delivery( Valid for all the four schemes)

Apart from this the A/c opening charges are Rs. 750 one time and four A/c’s namely Trading, Demat, Forex and Commodity are provided to the investor. Reliance Money is offering a brokerage charge of 7.4 paisa on every Rs 100 worth of delivery-based trades, and 1 paisa on non-delivery trades, which is the lowest in the industry so far. Currently, the average brokerage charge for delivery-based trades is anywhere between 15 paisa and 25 paisa for every trade worth Rs 100, while for nondelivery trades it is around 3-5 paisa. Following are also the main features of this share trading account provided by Reliance money:1. Flexibility to access reliance money services in multiple ways through Internet, Transaction kiosks, Call and transact or seek assistance through Business partners. 2. This is a safeguarded account as reliance money provides an electronic token that flashes a unique security number in every thirty two seconds This number works as a third level password (including the login ID and Password) keeping the account sage from any unauthorized access.


3. Flexibility to transact in Equity, Equity and commodity Derivatives, Offshore investments, mutual funds, IPO’s, Life insurance and General Insurance either through online or through channel partners. 4. With the help of this A/c investors can access to their banking, trading and Demat accounts without the hassle of writing cheques.Reliance money had tied up with UTI, HDFC and IDBI bank to link this share trading account for the investors. 5. Annual maintenance charge of just 50 /- per annum and free on mobile Tips. These were some of the features of ‘Reliance money’ share trading account. A customer can do the share trading through trading kiosks installed by Reliance Money, through net, through business associates of R-Money.


Document Photocopies Required:(A) Three passport size photographs for first holder (self attested). (B) One passport size photograph if second holder (C) One passport size photograph if third holder (D) For identification Proof- Voter ID Card/ Driving License/ Passport/ PAN Card (Compulsory) any one. (E) For residential proof:- Bank statement/ Voter ID Card/ Ration Card/ Driving License/ Passport/ Telephone or Electricity Bill statement (any one)


(F) One cancelled cheque leaf (For MICR No. record) if he had account in any of three banks. (G) Later Bank Statement/ Front page of passbook (Showing Name, Address, A/c No.) (H) Cheque in favour of ‘Reliance Money Limited; (Rs.750+ prepaid card of customer choice).

Reliance Money is allowing trading in four ways: 1) 2) 3) 4)

Online Offline( Through Franchise, they take Rs.12 per script) Call center Trading Kiosk( Charging .50 paisa per minut.

Working of Reliance money At the Macro Level


Working at Micro Level Reliance Money Kanpur (Branch office): Reliance Money Kanpur was established a year ago at Kan Chambers Civil Lines. However the official launch of Reliance money was announced on 3rd of May 2007 at national level in Jaipur. The functions of the organizations were being carried out from the date of establishment itself. At Reliance money Kanpur the following hierarchy exists:• • • • • •

Three Centre managers. Eight to ten Business Development Executives under each Centre manager. Business associates under each Centre Manager their number depending upon the area allotted to each CM. Remisars under each centre manager. Team leader and PFC”s under him for life insurance. One Customer Support Executive and One Senior Finance executive.

Centre Manager: The Centre manager is the Heart of the office who acts as a connection between Head office (Mumbai), National head, Regional head, The Clients, Remisars, Business associates and the Business development executives. The Centre manager is responsible for the following functions; 1. Organizing all the BDE’s, Business Associates and Remisars under one banner.


2. Making sure that the BDE’s, Business Associates and Remisars are carrying out their functions well i.e. expanding the business in form of selling the Share trading A/c’s , mutual funds, selling general along with life insurance policies . 3. Planning strategies for increasing the business (i.e. installation of canopies at the right place, appropriate advertising in different business Expo’s or corporate meets. Etc.)

4. Interviewing and Selecting Business development executive for the organization. 5. Identifying the potential agents in the market and making them the business associate or remisar of Reliance Money for good business prospects. 6. Assisting the new BDE’s or remisars in handling the clients. 7. Training the new BDE’s and the remisars about the product and how to approach the clients. 8. Reporting the regional head on the daily basis about the daily business performed.


The following diagram gives a brief idea about the working at R-Money Kanpur


Reliance Capital is a Depository participant of CDSL

COMPETITORS


Sharekhan Services-: Sharekhan, one of India's leading brokerage houses, is the retail arm of SSKI. With over 240 share shops in 110 cities, and India's premier online trading portal www.sharekhan.com, our customers enjoy multi-channel access to the stock markets.

SHARE KHAN • Sharekhan is the retail broking arm of SSKI Securities Pvt Ltd. SSKI owns 56% in sharekhan, balance ownership is HSBC, First Caryle, and Intel Pacific • Into broking since 80 years • Focused on providing equity solutions to every segment • Largest ground network of 210 Branded Share shops in 90 Cities

Freedom from paperwork 1. 2. 3. 4. 5. 6. 7.

Instant credit and money transfer Trade from any net enabled PC After hour orders Online orders on the phone Timely advice and research reports Real-time Portfolio tracking Information and Price aler


Share khan online Trading Interfaces The customer can choose the online trading interface that meets his requirement based on his trading habits and preferences. CLASSIC / APPLET The website is meant for customers who Invests in Equities SPEEDTRADE EXE Based The speed trade is meant for customers who trade in Equities DIAL-N-TRADE – Toll Free The DNT is a value added services meant for all customers who want to transact but are not online

Online Account Types • Classic Account / Applet : Investor in equities • SpeedTrade: Trader in equities & deriva


Individual Client: Demat A/c + Trading A/c opening charges:There is two type of account(a) Classic A/c opening charges- Rs 750/(b) Speed trade A/c opening charges- Rs 1000/-


(Rs 500/- per month of speed trade A/c. If Brokerage is Rs 1500/- of 3 month then RS 500/- will be off and if not then Rs1500/- and brokerage will charged.) AMC Charges- Rs 300/- per annum. Brokerage:Cash brokerage: - Delivery: 0.50%, Intraday: 0.10% (Negotiable) (Min. 0.05% on intraday & 0.50% on delivery) Exposure: -4 to10 times (For Intraday) 2 times (For Delivery) F&O Brokerage: - Buy & Sell 0.05% (Negotiable) Odin Terminal:In Classic A/c Terminal is waive based and it shows 5 portfolio. You can see only 26 script (shares) at a time. There is also no any graph is displays and customer have to login in every 10 minute. In Speed Trade A/c Terminal is internet based/ Software based and customer can see 500 script (shares) at a time. Trading through offline or website. (www.sharekhan.com) NSE & BSE both are online. Live applet for watching prices & trading purposes. Share Transfer: From Sharekhan Demat account to some other company Demat account the charge per script is Rs. 22

India Info line (5 Paisa.com)

India info line was founded in 1995 and was positioned as a research firm In 2000 e-broking was started under the brand name of 5 paisa.com. Apart from offering online trading in stock market the company offers mutual funds online.


It also acts as a distributor of various financial services i.e. GOI securities, Company Fixed Deposits, Insurance. Limited ground network, present in 20 Cities. Online Account Types • Investor Terminal : Investors / Students • Trader Terminal : Day Traders / HNI’s

PRICING FOR RETAIL CLIENTS Investor Terminal • Account Opening : Rs 500 • Demat 1st Yr : Rs 250 • Initial Margin : Rs 2500(Compulsory) • Min Margin Retainable : Rs 1000 • Brokerage : Trading 0.10% each side + ST Delivery 0.50% each side + ST

PRICING FOR HNI CLIENTS Trader Terminal • Account Opening : Rs 500 • Demat 1st Yr : Rs 250 • Initial Margin : Rs 5000(Compulsory) • Min Margin Retainable : Rs 1000 • Brokerage : Trading 0.10% each side + ST


Delivery 0.50% each side + ST ( Negotiable to 0.05% each side & 0.25%) • Account Access Charges Monthly Rs 800, adjustable against Brokerage Yearly Rs 8000, adjustable against brokerage

2. Indiabulls:-


Equity and Derivatives- Ease, Convenience Reliability- It all starts here. Investment services as individual as you are. Indiabulls Financial Services Ltd. is a public company and listed on the National Stock Exchange, Bombay Stock Exchange, Luxembourg Stock Exchange and London Stock Exchange. The company ranks at 82nd position in the list of most valuable companies in India has a market capitalization of approx US $ 800 million. The consolidated net worth of the company is approx US $ 400 million.

Through various types of brokerage accounts, Indiabulls offers the purchase and sale of securities which includes Equity, Derivatives and Commodities Instrument listed on National Stock Exchange of India Ltd. (NSEIL), The Stock Exchange, Mumbai (BSE) and NCDEX. Features of Power Indiabulls: • • • • • •

Live Streaming Quotes Fast Order Entry Tic by Tic Live Charts Technical Analysis Live News and Alerts Extensive Reports for Real-time Accounting

Demat+Trading account opening chargesFor Offline A/c opening-

700/-

For Online A/c opening-

1450/-

(An Offline Demat A/c holder can not do online trading) Online Account Type • Signature Account : Plain Vanilla Account with focus on Equity Analysis. The equity analysis is a paid service even for A/c holders • Power Indiabulls: Account with sophisticated trading tools, low commissions and priority access to R.M


CHARGES Pricing of IB Accounts Signature Account • • • •

Account Opening : Rs 250 Demat: Rs 200 if POA is signed, No AMC for this DP Initial Margin : NIL Brokerage : Negotiable

Power IndiaBulls • • • •

Account Opening : Rs 750 Demat: Rs 200 if POA is signed, No AMC for this DP Initial Margin : NIL Brokerage : Negotiable

PAID Research SCHEME WebBased-1-Month-500: WebBased-1-Year-6000 PrintReport-1-Month-750: Delivered PrintReport-1-Year-9000: Delivered

FACILITY View & Print on website View & Print on website View & Print on website + 10 Reports View & Print on website + 10 Reports

BrokerageFor intraday trading-

.02 - .05%

For Delivery trading-

0.25 - 0.50%

(Brokerage is negotiable and it based on the volume of client)

Exposure:-


For intraday trading For delivery trading -

5 – 10 times 2 times

Funding:Interest rate is 19% per month for funding. Drawback: For delivery they are providing a limit of 27 days, for squaring-off. Services:1. No SMS alert provide 2. A trader can find out the information about share market only by to call dealers 3. Account opening time- One Weak 4. Online & offline trading facilities are different.

3. ILFS:Your world of financial services and India's financial multiplex, IL&FS Investsmart Limited (IIL) is a premier financial service organization providing individuals and corporate with customized financial management solutions. . New Demat Account opening has been stopped by SEBI. Brokerage: For Intraday Trading- 0.04% For Delivery Trading- 0.40% AMC Charges: Rs 500/Exposure: For Intraday Trder - 4-5 times For Delivery Trader- 2 times Services:


Research Report- Free Trading A/c- Free Online Services- Free IPO- Online Tie up with HDFC Bank.

4. ICICI Direct.comCUSTOMER SERVICE FEATURES: With ‘ICICI direct Customer Tools &Updates’ you can trouble shoot all your problems online.It is a Market Player.

Give your feedback of viewpoint through the Viewpoint online. Brokerage chargesICICIdirect.com account can be opened for a one-time non-refundable fee of RS 750/The brokerage rates are very reasonable. The rates vary according to the volume of trades done by you. Brokerage on trades done in CASH Segment:


Total Eligible Turnover (Volume of Transaction) per quarter Trades above Rs.5,00,00,000/- (Above Rs. 5 Crore) Trades between Rs.2,00,00,001/- and 5,00,00,000/- (Rs. 2 Crore to 5 Crores) Trades between Rs.1,00,00,001/- to Rs. 2,00,00,000/- (Rs. 1 Crore to Rs 2 Crore) Rs. 50,00,001/- to Rs.1,00,00,000/- (Rs. 50 lacs to Rs. 1 Crore) Rs. 25,00,001/- to Rs.50,00,000/- ( Rs. 25 lacs to Rs. 50 lacs) Rs. 10,00,001/- to Rs.25,00,000/- ( Rs. 10 lacs to less than Rs. 25 lacs)

Brokerage 0.25%

Second Leg of Trades* Nil

Effective Brokerage per leg for squared off trades 0.125%

0.30%

Nil

0.15%

0.35%

Nil

0.175%

0.45%

Nil

0.225%

0.55%

Nil

0.275%

0.70%

Nil

0.35%

Less than Rs. 10,00,000/(Rs. 10 lacs)

0.75%

Nil

0.375%

For NSE Trades Brokerage is calculated on a per share basis and is rounded off to the fourth decimal. For BSE Trades Brokerage is calculated on a per share basis and is rounded off to the second decimal. The minimum value of the order that would be accepted would be Rs. 500/- and the minimum brokerage would be Rs. 25/- per trade. The minimum brokerage is Rs.25/- or 2.5% of the trade value whichever is lower. Service Tax and Securities Transaction Tax (STT) will be charged additional as per the applicable rate. The minimum value of the trade that would be accepted would be Rs. 500/-. The maximum amount of trade that a customer can execute in any settlement under Spot Segment is Rs.10, 00,000/-. If the trading day is a bank holiday, then the pay-out will be credited on the next bank working day. Trades in spot form part of


the eligible turnover for rebate calculations. Service Tax and Securities Transaction Tax (STT) will be charged additional as per the applicable rate. How is the rebate computed? On the transaction date the first leg of the transaction would be charged brokerage at 0.75%. The rebate calculation will take place at the end of the quarter. The rebate amount will be computed only on the transactions on which brokerage has been charged. This volume is called the ‘Eligible Turnover’. Hence the square-off trades will not form part of the rebate calculations. Rebate will be calculated as a percentage of the Eligible Turnover. The quarters for the purpose of the computation are defined as: Q1 Jan1-March 31, Q2 April 1- June 30, Q3 July 1 – Sept 30, Q4 Oct 1- Dec 31. Example Total Eligible Turnover

Brokerage rate

Brokerage charged

0.75%

Rs. 11,250/-

Rs 15,00,000/-

Rebate calculation Total Eligible Turnover

Brokerage slab

Rebate

Rebate to be credited

Rs 15,00,000/-

0.70%

0.05%

Rs. 750/-

(i.e. 0.75% minus 0.70%) The actual brokerage charged can be higher than Rs. 11,250/- as some trades may have been charged at a higher rate. This may happen when the trade value is below Rs. 3333/- and hence a flat brokerage of Rs. 25/- is charged. Service Tax and Securities Transaction Tax (STT) will be charged additional as per the applicable rate. Please note that the rebate will not be greater than Rs. 750/-. Brokerage on trades done in Margin Segment: How is the rebate computed?


On the transaction date brokerage would be charged at 0.10%. The rebate calculation would take place at the end of the calendar month. The rebate amount will be computed only on the transactions on which brokerage has been charged. This volume is called the ‘Eligible Turnover for margin’. Rebate will be calculated as a percentage of the Eligible Turnover for margin. Example – Total Eligible Turnover for margin

Brokerage rate

Brokerage charged

0.10%

Rs. 8,000/-

Rs 80,00,000/-

Rebate calculation Total Eligible Turnover for margin Rs 80,00,000/-

Brokerage slab

Rebate

Rebate to be credited

0.075%

0.025% (i.e. 0.10% minus 0.075%)

Rs. 2,000/-

The actual brokerage charged can be higher than Rs. 8,000/- as some trades may have been charged at a higher rate. This may happen when the trade value is below Rs. 15,000/- and hence a flat brokerage of Rs. 15/- is charged. Service Tax and Securities Transaction Tax (STT) will be charged additional as per the applicable rate. Please note that the rebate will not be greater than Rs. 2,000/-. The brokerages rates of ICICIdirect.com are inclusive of demat transaction charges, service taxes and courier charges for contract notes. It ranges from 0.01 to 0.1 for margin trades, 0.1 to 0.75 on delivery based trades.


To give an idea, an investor having a daily average trading volume of RS65000/- will be paying a paying an effective brokerage of 0.50% only, and that too inclusive of all charges. Demat account charges: For all trades done through ICICIdirect.com, there are NO separate charges. However, for all other trades and services like demat, pledge etc, the charges shall be as per the existing rate card of ICICI demat. An annual maintenance fee of RS 500/- per account is charged. However, the first year annual maintenance charges are waived for on all accounts opened through ICICIdirect.com.

For bank account, a minimum quarterly average balance of RS 5000/needs to be maintained. Why should an account be opened with ICICIdirect.com? it may seem to be wondering about why 0.75% is charged, while the broker may claim only say 0.5% Firstly, the brokerage rates of ICICIdirect.com are inclusive of demat transaction charges, service tax and courier charges for contract notes. Secondly, brokerage rates on ICICIdirect.com are dependent on the volume of transactions done and also the type of trade put in by you. As mentioned earlier. Investors with reasonable trading volumes anyways get less than 0.5% brokerages (all inclusive). Even if we assume very low volumes of trading and that too only on Delivery based trading, our brokerage rates are still economical.


5. Kotak Securities Ltd.Kotak Securities Ltd. is India's leading stock broking house with a market share of around 8%. Kotak Securities Ltd. has been the largest in IPO distribution. Kotak Securities Ltd is also a depository participant with National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL), providing dual benefit services wherein the investors can use the brokerage services of the company for executing the transactions and the depository services for settling them. Kotak Securities Limited manages assets over 2500 crores of Assets under Management (AUM).


Type of account in Kotak Securities Ltd.

If you want to start investing? Open an investing account with Kotak Securities Ltd and begin right away. Whether you are a beginner or an expert trader, Kotak have different accounts to suit your needs: Kotak Gateway: Ideal if you are just starting out in the equity markets. Kotak Value: Tailor-made to meet the needs of the experienced investor. Kotak Privilege Circle: A line up of premier trading services to suit your needs. Kotak High Trader: Intra-day trading account with Auto-square off that lets you take higher exposure. Kotak Freeway: Trading unleashed! Unlimited trading for a fixed monthly fee. Online Account Types Twin Advantage / Green Channel : 2 DP’s, Limit against shares Free Way : Flat Rs 999/- Cover Charges p.m., 0.03% per transaction High Trader : 6 Times Exposure cash & Derivatives, Auto sq off 2 :55 Cash Expressway : Spot payment, additional 0.5% charges Pricing of Kotak : Account Opening :Rs 500/Demat: Rs 22.5 p.m. Initial Margin : Rs 5000/- (Compulsory) Min. Margin Retainable : Rs 100/Brokerage Slab wise : Higher the volume, lower the brokerage. Even older customers (on 0.25% & 0.40%) have been moved to the slab wise structure. For intraday tradingFor Delivery trading-

.05% .50%

(Brokerage is negotiable and it based on the volume of client) Exposure:For intraday trading For delivery trading -

5 – 10 times 2 times

Funding:Interest rate is 19% per month for funding


6. HDFC Securities Ltd.Abut HDFC Securities Ltd HDFCsec is a brand brought to you by HDFC Securities Ltd, which has been promoted by the HDFC Bank & HDFC with the objective of providing the diverse customer base of the HDFC Group and other investors a capability to transact in the Stock Exchanges & other financial market transactions.

Online trading for Resident & Non Resident Indians. • • • • •

Cash-n-Carry on both NSE and BSE. Day trading on both NSE and BSE. Trade on Futures & Options on the NSE. Online IPO's. Telephone-based Broking (Equity & Derivatives).

• •

The capability to take your orders over the phone No compulsion for you to change your existing savings and demat accounts to any of our preferred banks A branch network that is set to quickly grow in all-India coverage, so you’re never too far from customer service that will meet your requirements .State-of-the-art technology backing the safety features in all our transactions.

Online Account Type HDFC Online Trading A/c: Plain Vanilla Account with focus on 3 in 1 advantage. Pricing of HDFC Account A/c Opening: Rs 750//- for non HDFC Bank customers (AQB)


Brokerage: Trading 0.15%* each side + ST Delivery 0.50%** each side + ST Demat: Nil, 1st year charges included in Account Opening Initial Margin: Rs 5000* Rs 25 Min Brokerage per transaction ** Rs 8 Min brokerage per transaction

9. Karvy:Online DEMAT Services What are the services offered by Depository Participant? Our Electronic Custodial Services are: • • • • •

Convert your physical holding into electronic holding (which is called "dematerialisation" of securities) Keep custody of your holdings in electronic form. Transfer the shares in the electronic form from one account to another. Facilitate pledge of your electronic securities. Give electronic credit of new share allotments such as public issues, bonus, rights etc.


Convert your electronic holding into physical holding (which is called "rematerialisatoin of securities")

Company Profile History of Religare Securities Ltd.Religare Securities Limited, a Ranbaxy Promoter Group Company, was founded by late Dr. Parvinder Singh (CMD Ranbaxy Laboratories Limited), with the vision of providing integrated financial care driven by the relationship of trust & confidence. To realize its vision the Religare group provides various financial services which include broking (stocks & commodities), depository participant services, portfolio management services, advisory on mutual fund investments and many more. Working on the philosophy of being “Financial Care Partner”, Religare unlike other traditional broking firms not only executes the trades for the clients but also provides them critical and timely investment advice.. Religare Enterprises Limited (A Ranbaxy Promoter Group Company) through Religare Securities Limited, Religare Finvest Limited, Religare Commodities Limited and Religare Insurance Advisory Services Limited provides integrated financial solutions to its corporate, retail and wealth Management clients. Today, it provides various financial services which include Investment Banking, Corporate Finance, Portfolio Management Services, Equity & Commodity Broking, Insurance and Mutual Funds. Plus, there’s a lot more to come your way. Religare Today – An ISO 9001:2000 Company Member of National Stock Exchange (NSE) since November 1994, first deposit based member of BSE. Depository Participant with - National Securities Depository Limited (NSDL) since July 2000 - Central Depository Services (India) Limited (CDSL) since Feb 2003. - SEBI Approved Portfolio Manager


Working on the Philosophy of being “Financial Care Partner” Among the leading service provider in Capital Market In a span of less than five years of its retail operations, RSL recorded a healthy growth rate both in business volumes and profitability. Religare is among the very few stock market intermediaries to having very sound based capital and healthy net worth. Religare aims to have its footprint all across the country by the end of year so that it may add value to the investing community in the country. Individual Client: Demat A/c opening charges: Two schemes are there: Classic Plan: 1) R-ACE Basic • • • • •

Account activation charges Rs.299 Minimum margin of Rs.5000 required. Earn interest on cash margin( upto 3%) Trading A/c free for life time. Lifetime free Dp account(No Annual Maintenance charge)

2) R-ACE Life(Advanced) • • • • • • • •

Account activation charges Rs.499 Minimum margin of Rs.5000 required. Earn interest on cash margin (upto 3%) Trading A/c free for life time. Lifetime free Dp account(No Annual Maintenance charge) Trading through offline or website. (www.religare.in) NSE & BSE both are online Live applet for watching prices & trading purposes.

3) R-ACE PRO(Professional) • •

Account activation charges Rs.999 Minimum margin of Rs.10, 000 required.


• • • • • • •

Earn interest on cash margin (upto 3%) Trading A/c free for life time. Traders terminal on your desktop(customization) Lifetime free Dp account(No Annual Maintenance charge) Trading through offline or website. (www.religare.in) NSE & BSE both are online Live applet for watching prices & trading purposes.

Brokerage:Cash brokerage: - Delivery: 0.50%, Intraday: 0.05% (Negotiable) Exposure: - 5times (upto 1 lacs, for Intraday) 20 times (from 1 lacs onwards, for Intraday) 2 times (For Delivery) F&O Brokerage: - Buy & Sell 0.05% (Negotiable) Freedom Plan: It is a plan for those investors who want to pay FEE-Base Broking (Prepaid Brokerage).It involves four plan: 1) 2) 3) 4)

500 1400 2500 4000

( Monthly) ( Quarterly) ( Half Yearly) ( Yearly)

Margin:Intraday- upto 3 Lacs (per Day) Delivery- upto 40,000 (per Day) Other features1. For the fund transfer and withdraw, we have tie up with two banks ICICI Bank and HDFC Bank. 2. If you are having bank account in one of them, you can transfer the funds and withdraw the funds online same day. 3. Settlement of trades follows T+2 transaction cycle. 4. Freedom from paperwork, trading facilities is completely online. 5. SMS alerts on your mobile phones. 6. Apart of that we have our dedicated team to look after your Portfolio, Mutual Funds, and Commodities. 7. Religare had a contact with 180 companies and anyone who is engaged in that company, is entitled to have free account opening.


UNICORN: A Sovereign NV Securities Pvt. Limited Promoter Group company Features: 1. Account opening charges: Rs.500 2. Annual Maintainance charges: Rs.250 3. Brokerage a) Intraday: 0.02 - 0.05% b) Delivery: 0.2 - 0.5% * Brokerage is negotiable 4. No interest on cash margin. 5. Margin against securities. 6. Margin on delivery is 4 times. 7. Margin on Intraday is 10 times. 8. Trading terminal. 9. Trading through online and offline. 10. Tie up with banks like IDBI, ICICI, HDFC, UTI, Karnataka Bank, Bank of Maharashtra. 11. Firstly it was a franchise of Religare Securities limited now they have established their own trading company. 12. Free account opening if one had account in any of banks. 13. Transfer of script from demat account of Unicorn to some other company demat account is Rs.15/script. Summer Training Profile


During my summer training I was given operations job.Ihad to stay at the office and had to fill the forms for opening D-MAT A/C at RELIANCE MONEY. t I was also made aware of the E-CRM Software of Reliance. I also came to know how trading was done On-line and Offline. Key findings of consumer behavior: • • • • •

• • • • •

Mainly consumer was very much interested in knowing the brokerage that we are charging, as this the key part in any share trading business. Also they were interested in knowing the Annual Maintenance Charge (AMC) of Demat A/c. Many of the customers had opened account in the name of their wife’s as they got rebate in Income Tax. So they tried to ask queries regarding the first holder, second holder, third holder and nominee. They were also interested in other investment alternatives, so they also ask queries regarding other financial products of reliance money, and ask for demlo also. Many of the customers have share certificates in physical form so they opDned account only for converting them into demat (electronic form), as they see that AMC of DEMAT A/c is very less. They are in interested in knowing the cost associated with the transferring of shares from one demat to another. In how many days account will be opened. To which depository Reliance Capital belongs to. Regarding the facilities related to online and offline. How many scripts does the Trading window terminal shows both in BSE and NSE. Queries regarding opening of Demat account for joint holders & regarding death of first or second holder

Based on the market survey, new clients and existing clients following recommendations can be given for more satisfaction of customers as well as more sell of the product.


SWOT ANALYSIS OF RELIANCE MONEY LTD. STRENGTHS 1. All four accounts Trading, Demat, Forex, Commodities are opened just for Rs.750. 2. Trading account is interlinked (if saving account is in IDBI, UTI and HDFC Bank) 3. A very strong IT setup with huge investment to provide best standards and effective systems for smooth functioning of operations 4. Flexibility and adaptability to the dynamic need of capital market. 5. Traders can also invest in Mutual Funds. 6. Reliance Money unlike other brokering houses has introduced a new prepaid system of brokerage for the share trading in which it provides the lowest form of brokerage charged from an investor. 7. Its convenient: You can access Reliance Money’s services through -----• • • •

The Internet Transaction Kiosks The phone ( Franchise) Call center

8. It’s safe Your account is safeguarded with a unique security number in the security token key that changes every 32 seconds.This number works as a dynamic password to keep your account safe. 9. It provides you a Demat Account You get your own Demat Account with Reliance Capital at an annual fee of just Rs.50 (AMC of Demat)


10. It provides you a 3-in-1 facility You can access your Banking, Trading and Demat account through a single window and transfer funds across accounts seamlessly. 11. Products: Company’s product line is quite flexible in the sense that there is a product for every kind of investors. 12. It also provides investment in General Insurance and Life Insurance.

WEAKNESS 1. Against security: In Reliance Money, if you have some shares in your Demat account then you donot get margin against your securities, whereas some companies are providing margin on securities in the range of 60-70%. Whereas some brokers are also providing margin on share in the pool account. 2. Less number of branches in India 3. Do not have access on Regional Exchanges (such as UPSE) 4. Competition from banks. 5. Saving Account In Reliance Money customer had the problem of saving account. As Reliance Money had tie up with three banks namely IDBI,UTI and HDFC as this gives the advantage of linking the trading accounts of their customers to saving accounts. This makes trading easier, and at the same time a trader withdraws exactly as much money from his account as is needed to complete the trade. But if customer had account in some other bank then they had to give a cheque in favour of ‘Reliance Securities Limited’ and money comes in their trading account after 5 working days, as Reliance Money had tie up with City Bank. But some companies are providing free account of those banks through which they have tie up. 6. No interest on cash margin.


7. Do not take cash.

OPPORTUNITIES 1. Already having a good market access through different products. 2. Market share of company is increase rapidly. 3. Reliance Money Ltd is not so longer in the financial securities area but at present it has a very good response of investors. 4. Since Reliance Money is coming with its own Bank and Stock Exchange, and is also planning to tie up with other banks the prospects are very good. THREATS: New Competitors A lot of new competitors are trying to enter the market in this bullish run to taste the flavor of this cherry. This is creating a lot of competition for large players and it is creating little confusion in the minds of the customers about the services provided by the broker. Also many banking firms are entering into the market with huge investment. Competitors like ICICI, Kotak, HDFC, and 5-paisa etc, Religare.are posing a lot of threats to the company. Some of the key points in which the company is facing threats are: 1. 2. 3. 4.

No margin on delivery. Basically very small limit of delivery. Other threats are: Sub broker, Brokers, Suppliers. No arbitrage.

14. RISK FACTOR Investments in securities are subject to market risks, which include price fluctuation risks. There is no assurance or guarantee that the objectives of any of the schemes will be achieved. The investments may not be suited to all categories of investors. The names of the scheme do not in any manner indicate their prospects or returns. The performance in the equity schemes may be adversely affected by the performance of individual companies, changes in the market place and industry specific and macro economic factors. The debt investments and other fixed i


15. CONCLUSION Religare is providing demat and trading account in Rs 500only. The charge of trading account is NIL. Person who has demat account in other company can do trading with Religare with without paying extra charges. If person has saving account in ICICI BANK and HDFC BANK can transfer and withdraw their fund online same day. While other brokerage companies have tie-up with hardly one Bank. All type of people can trade with Religare because their brokerage charge is very low than other companies.


In how many days account will be opened 16. RECOMMENDATIONS Based on the market study, new clients and existing clients following recommendations can be given for more satisfaction of customers as well as more sale of product. Recommendation related to account opening Time taken to account opening is too long i. e. 5-6 days in comparison with other DP’s providing the account opening in 2-3 days and sometimes even in one day, so the time limit should be reduced so that users are interested in opening the account. Documents required for account opening are too unique and confusing. Numbers of signatures, which are made by the clients, are too many, a user has to sign about 30-31 signatures, and numbers of signs must therefore be reduced.


ONLINE SHARE TRADING For share trading online one must have a DEMAT ACCOUNT ↨↨

Introduction of Demat Account Demat is called Dematerialization of securities. Dematerialization is the process of converting the securities held in physical form (certificate) to an equivalent number of securities in electronic form and crediting the same to the investor’s demat account. Dematerialized securities do not have any certificate number or distinctive numbers and are dealt only in quantity i.e. the securities are fungible. Dematerialization of the clients holding is not mandatory. Clients can hold their security either in demat form or in Physical form. They can also keep part of their holdings (in the same scrip) in demat form or in physical form. However a select list of seurities announced by SEBI can be delivered only in demat form in the stock Exchange connected to NSDL. A demat account can be opened with a depository participant upon paying an annual maintenance fee of Rs 250-750. Besides, they also charge Rs 30-50 for every debit entry (sell) of shares in the demat account. All public and private sector banks offer the demat facility and they charge a lower fee if the demat account holder has a savings or current account with the bank concerned. Many brokerage firms also offer demat facilities. A list of these broker-cum- depository participants is available on the websites of National Securities Depository (www.nsdl.co.in) and Central Depository Services (www.cdslindia.com). These are the two central depositories in the country.


BENEFITS OF ONLINE SHARE TRADING 1. Paperless and Hassle free :- In on line Share Trading There is no need to fill any Physical Form, Writing Cheques and TIFD’s for Setting the trades. 2. One Window Solution:- Invest in about 7-8 product and get all the information on a Single screen just by using your user ID and Password. 3. Place Any Time facility:- You can Place your order any time of the day even during Non Trading hours and holidays. 4. Speed:- Get the latest quotes of scripts on most of online share trading companies and place an order instantly at the same time and it will take just 4-5 seconds. 5. Control:- During trading or investing in share and others, there is order confirmation instantly. This assures that you have indeed placed an order at the price you wanted. 6. Transparency:- You will get all the confirmation instantly that you have indeed placed an order at the price you wanted. So transparency is also more. 7. Mutual Funds:- Now a days you can buy and sell Mutual Funds online with out filling application forms every time. And you can also take advantage od Syatematic Investment Plan (SIP) and Systematic Withdrawal Plan (SWP) which allows you auotomatic periodic investments in any Scheme. 8. Trade in Equity Products in which you have a choice of trading options to match Your Trading needs.


9. Derivative Trading:- You can stabilize the return on your portfolio against Market Movement by investing in derivatives.

10. Online IPO’s :- Invest in IPO online with out going through the Hassle of filling of any application form* or Paperwork. On allotment , shares nd Bonds are directly credited to the Demat Account. 11. Rich Market Intelligent:- Corporate Information Bank, Diret tehnical charts. Al this is to help client to make Informed Decision. 12. Call N Trade Facility:- Call N Trade allows you to call on a Local number in your city and trade on the Telephone through Customer Sales Executive. 13. GOI Saving Bonds, Insurance, Loans are alo available online, invest in these without any paperwork.

14.Trade from any where in the world by just sitting online


Players Dealing in Online Share Trading Presently there are about 30- 35 Companies that are dealing in online share trading like ICICIdirect.com, Share khan, India Bulls, India Info line, Kotak Street, HDFC, Motilal Oswal. Geojeet, IL & FS etc and many other small companies are also there. But the main Player in this Market is • • • • • •

ICICIDirect.com India bulls, Share khan Kotak Securities , India info line HDFC etc

ICICIdirect.com is the market leader he is sharing the maximum Market Share i.e. 55% of the trading in stock exchange is done by ICICI Direct.com. But Companies like Share khan, India bull and India Info line are the also good known Companies

“ONLINE SERVICES AT RELIANCE MONEY” www.reliancemoney.com This type of trading is done directly through the customers. whenever they want to do trading they can do through their computers or through their laptops with INTERNET Connection or through KIOSK Machines installed at each Distribution office of Reliance money and now installed at BARISTA,RAVE KANPUR.


online services at reliance money •

Investor can easily access to all products & services through single screen.

Besides trading online investor can also invest online in MFs, IPOs, Insurance.

The site provides in-depth learning on the markets from basic to trading strategies.

Investor can open his account by simply log on to www.reliancemoney.com, enter user ID, password and 6 digit security token. There are two types of online trading: o Insta trade o Easy trade(Trade Now)

“Trade now” will allow the investor to get into trading page and there on trade seamlessly. It streamlines live quotes on customized market watch and investor too can create multiple customized market watch .

“Easy trade” has simple order form which is easy to understand and place a trade. It enables easy access to BSE, NSE & FONSE srcips and get price & market depth on the same screen.

Investor can calculate capital gains

Investor can create his own market watch by selecting upto 25 scrips, detach and keep it on his desktop.

Do away with writing cheques.

Investor can track his investment portfolio online.

The knowledge section of R Money demystifies the complex financial world.

The website flashes real time news on various markets i,e equity, commodity, offshore, MFs, IPOs by Dow Jones, one of the leading newswire in the world.


Types of Online Trading in RELIANCE MONEY 1) personal computers,laptops-whenever you want to do trading,simply just log on to www.reliancemoney.com.As soon as the page opens you need to enter your user name,password and the no. displayed in the security key and then submit details of your transaction to be undertaken. 2) Kiosk-Reliance money brings to you easy accessibility to Online financial transaction through it’s nationwide network of “Trading Kiosk”. You can log on to reliancemoney.com at any of their “Trading Kiosk” using your User ID, Password and security token number and transact. Broadband charges at the rate 0.50p per minute will be applicable and adjusted rem your account.

Reliance Money Chief Executive Officer Sudip Bandopadhyay said the company presently has 2500 trading kiosks across the country. Reliance Money, the financial trading platform promoted by Anil Dhirubhai Ambani group's Reliance Capital, would increase the number of web-enabled trading kiosks to 10,000 by March 2008, a company official said.

BENEFITS OF ONLINE SHARE TRADING 15. Paperless and Hassle free :- In on line Share Trading There is no need to fill any Physical Form, Writing Cheques and TIFD’s for Setting the trades. 16. One Window Solution:- Invest in about 7-8 product and get all the information on a Single screen just by using your user ID and Password. 17. Place Any Time facility:- You can Place your order any time of the day even during Non Trading hours and holidays. 18. Speed:- Get the latest quotes of scripts on most of online share trading companies and place an order instantly at the same time and it will take just 4-5 seconds.


19. Control:- During trading or investing in share and others, there is order confirmation instantly. This assures that you have indeed placed an order at the price you wanted. 20. Transparency:- You will get all the confirmation instantly that you have indeed placed an order at the price you wanted. So transparency is also more. 21. Mutual Funds:- Now a days you can buy and sell Mutual Funds online with out filling application forms every time. And you can also take advantage od Syatematic Investment Plan (SIP) and Systematic Withdrawal Plan (SWP) which allows you auotomatic periodic investments in any Scheme. 22. Trade in Equity Products in which you have a choice of trading options to match Your Trading needs. 23. Derivative Trading:- You can stabilize the return on your portfolio against Market Movement by investing in derivatives

24.Online IPO’s :- Invest in IPO online with out going through the Hassle of filling of any application form* or Paperwork. On allotment , shares nd Bonds are directly credited to the Demat Account. 24. Rich Market Intelligent:- Corporate Information Bank, Diret tehnical charts. Al this is to help client to make Informed Decision. 25. Call N Trade Facility:- Call N Trade allows you to call on a Local number in your city and trade on the Telephone through Customer Sales Executive. 26. GOI Saving Bonds, Insurance, Loans are alo available online, invest in these without any paperwork.

27.Trade from any where in the world by just sitting online

OFFLINE TRADING


This type of Trading is not done directly by the consumers rather they ask someone to do trading on their behalf.thi type of trading can also be done through RELIANCE MONEY CALL CENTER.Phone no is 022-39886000 The charges for offline trading is Rs12/-per trade Types of Offline Trading 1) Call centres 2) Franchisee

COMPARISON OF ONLINE WITH OFFLINE TRADING 1. Money saving opportunities The amount of money you save depends primarily on the online brokerage firm that you choose. No two firms are the same. There may be different regulations, similar to bank regulations. There are minimum deposits required that must be maintained. As mentioned above, this will depend on the online brokerage firm. 2. Instant online access You can gain instant access to your account, the value of your portfolio updates immediately before your eyes. 3. Enter online trades at anytime You can enter online trades at anytime and from anywhere. This is very convenient if you live in a different time zone than the country you are trading in. Not to mention, it is especially fit for investors with busy schedules. 4. With online trading you are in charge You are in control of your investments. No sales pitches and no hassle. You decide where to invest your money. Nevertheless, with all the convenience of online trading there are still investors who prefer the old fashion way of offline trading. Offline trading has lost some popularity but it is still the main form of investing. Offline trading offers many benefits as well. 1. The one benefit that an investor appreciates the most is that they are not alone when making investment decisions. 2. There are experienced and professional brokerage companies that handle their investments for them.


3. Investors are not faced with the challenge of making these vital investment decisions; especially, if they do not have the experience necessary to make the appropriate investments. 4. Also, there is someone there to answer any questions that may cause concerns. Not to mention, with offline trading mistakes are less likely to take place. No one wants to throw their money away or stand by and watch someone else throw their money away. It may be wise to hire a professional to assist you in making the correct investment decisions if you feel you lack the knowledge necessary.

IN NEWS-TIEUP

Reliance Money announces tie-up with Valcambi SA, launches Gold coins • • • •

First non-banking Company in the Private Sector to retail gold coins in India Valcambi SA global leader in precious metal refining, based in Switzerland Reliance Money to source gold coins with highest purity from Valcambi through the tie-up Gold coins of 24 carat with 999.9 purity to be available in 5gm and 8gm across select Reliance Money and Reliance World outlets


1) What is your Trading mode? online

offline

kiosk

call centres

) Your financial advisor Reliance Money

India Bulls

icici Karvy

Religare

Other Brokers If you are availing the services of R Money, then please fill Agree

Disagree

Can’t say

(a) R Money provides all investment solutions (b) R Money has quality services (c) R Money has reasonable charges (d) Online services of R Money Are better than others (e) I am satisfied with the services of R Money

90% 80%

80%

75% 65%

70%

60%

60%

60%

agree

50%

disagree

40% 30%

25%

20%

20%

10%

5%

10%

30% 10%10%

30%

10%

10%

0%

a

b

c

d

e

can't say


Frequency of online trade of Customer) Options

No of time Trade weekly

>10 times 10-20 times 20-40 times more than 40 times

38 19 8 5

How Did the Customer first know about the Company Type of Ad

No of client

print ad Television Ad Web Ad Friends/Relatives other brokers Others

5 0 24 36 3 2


How Did the Customer first know about the Company No of client others Type of ad

other brokers Friends/Relatives

How Did the Customer first know about the Company No of client

Web Ad Television Ad print ad

0

10

20

30

40

No of client

) Do you prefer online trading more convience than offline trading?

Yes

No

120% 100%

99%

80% 60% 40% 20%

1% 0%

yes

no


CONCLUSION According to the survey conducted, I can conclude that people prefer more of doing online trading in comparison of offline trading . It is not that they have more transparency in online trading, but bethey are able to see their trade being done and also can see the ups and downs of market of every minute, People of every age group is able to get knowledge of computers also through online trading. Institutions like Reliance Money have playing their role by educating customers and giving them services so that investors can manage their money profitably. “Whatever you choose to do, or not do, with your money, you run risks. If you stash it under your pillow, it won’t earn interest and you run the risk of losing it to thieves. So not taking risk is also risky.”

17. BIBLIOGRAPHY Our main source of information has come from both primary as well as secondary sources.


 PRIMARY SOURCE : 1. BOOKS : Investment

( By William Sharpe, Belly )

Futures & Options

( By Vohra and Bagri )

2. INTERVIEWS : All securities company which is including in project.  SECONDARY SOURCE : 1. INTERNET SITES : nse-india.com bseindia.com sharekhan.coml 5paisa.com indiabulls.com religaresecurities.com kotaksecurities.com reliancemoney.com amfiindia.com valueresearchonline.com


A finance project reliance money