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Project Report AT
“ANGEL BROKING LIMITED” A Project Report Submitted in partial fulfillment of the requirements for the award of the degree of
MASTER OF BUSINESS ADMINISTRATION (Industry Integrated) TO PUNJAB TECHNICAL UNIVERSITY
BY MUKESH KUMAR
Enrollment No: - 821126191 MBA-II
Under the guidance of Mr. Kumar Anand
DECLARATION
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I here by declare that project conducted at ANGEL BROKING LIMITED, NEW DELHI
Under the guidance of Mr. Kumar Anand
Submitted in Partial fulfillment of the requirements for the degree of MASTER OF BUSINESS ADMINISTRATION (Industry Integrated)
TO PUNJAB TECHNICAL UNIVERSITY Is my original work and the same has not been Submitted for the award of o f any other Degree/ Diploma or other similar titles or prizes.
Mukesh Kumar Place: New Delhi Enrollment No: - 821126191 Date:
CERTIFICATE
This is to certify to that Project at
3 ANGEL BROKING LIMITED, NEW DELHI
Submitted in partial Fulfillment of the requirement for the award of the d egree of
MASTER OF BUSINESS ADMINISTRATION (Industry Integrated) TO PUNJAB TECHNICAL UNIVERSITY
Is a record the bonafide trading carried out by
Mukesh Kumar Under my supervision & guidance and that no part of this report has beer. bee r. Submitted for the award of my other degree/ Diploma or similar titles or prizes.
FACULTY GUIDE:
Signature Name: Ms. Ritu Sharma
Signature & Seal of the learning center
ACKNOWLEDGEMENT I express my sincerest gratitude and thanks to ho norable, Mr. Muneesh Kumar (Branch Head), for whose kindness I had the precious opportunity of attaining
4 Training at Angel Broking, under this brilliant untiring guidance I could complete the Project being undertaken on the “To study the equity market in detail & the Client service provided by Angel Broking Limited and its competitor Companies along with the satisfaction level of the existing clients of Angel Broking Limited” successfully in time. His meticulous attention and invaluable suggestions have helped me in simplifying the problem in the work. I would also like to thank the overwhelming support of all the people who gave me an opportunity to learn and gain knowledge about the various aspects of the industry.
I am indebted to all staff members of Angel Ang el Broking Limited for their valuable support and cooperation during the entire tenure of this project.
Not to forget, the faculty members of Rai Business School, New Delhi who have kept my spirits surging and helped me in delivering my best and made me reach up to this platform.
CONTENTS CHAPTER 1
INTERODUCTION
1.1 General introduction. 1.2 Objective of the study. 1.3 Industry profile.
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a. Origin and development of the industry b. Growth and present status of the industry c. Future of the industry CHAPTER 2 PROFILE OF OF THE INDUSTRY 2.1 Origin of the Organization. 2.2 Growth and developnent of the Oraganization 2.3 Present status of the Organization 2.4 Future plans of the Organization 2.5 Functional departments of the Organization 2.6 Organization structure and Organization chart 2.7 Product and service profile of the Organization 2.8 Market profile of the Organization CHAPTER 3 DICUSSION ON TRAINING. 3.1 Student’s work profile (Role and responsibilities). 3.2 Description of live experience. 3.3 Student’s contribution to Organization. CHAPTER 4 STUDY OF SELECTED RESEARCH PROBLEM 4.1 Statement of research problem 4.2 Statement of research objectives. 4.3 Research design and methodology 4.4 Analysis of data 4.5 Summary of Findings CHAPTER 5 SUMMARY AND CONCLUSION 5.1 Summary of learning experience 5.2 Conclusion & Recommendation
CHAPTER-1 INTRODUCTION: Angel Broking is one of the leading integrated financial services institutions of India. The company offers a large and a nd divers bouquet of services ranging from
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equities commodities, insurance broking to wealth advisory, portfolio management services, personal finance services Investment broking an d institutional broking services. The services are broadly clubbed across three key business verticals-retail, wealth management and the institutional spectrum. Angel Broking limited is the holding company for all its business, structured and being operated through various subsidiaries. Angel’s retail network spreads across the length and breadth of the country with it’s Presence through more than 1217 location across more than 392 cities and towns. having spread itself fairy well across the country and with the promise of not resting on its laurels it has also aggressively started eyeing global geographies. OBJECTIVE:
To study the various features of equity market To study the criterion of different companies for opening d-mat & trading accounts. To study all kind of financial services provided by Angel Broking to its client. To make a comparative analysis of the client services of different companies. To study the satisfaction level of the existing client of Angel Broking.
INDUSTURY PROFILE: HISTORY OF EQUITY MARKET Market-oriented economic reforms in India began in 1991. with the removal of Administrative controls on bank credit and primary market for securities, the capital Market came to occupy a larger role in shaping resource allocation in the
7 country. This led to a heightened interest amongst policy makers in the institutional development of securities markets. The efforts towards empowering the securities markets regulator(SEBI) and the frist efforts towarda attracting foregin portfolio investments began early in the reformes process. Almost immediately after the reformes began, there was a prominent scandal on the fixed income and equity markets, which was exposed in April 1992. This set the stage for an unusual policy intervention : the establishment of a securities exchange, the National Stock Exchange (NSE), by the government. From 1996 onwards, debates about policy po licy issues on the equity markets were dominated by questions about the role for leveraged trading. There was a proposal to have a spot market based on “rolling settlement” (where leverage is limited to intra-day positions only). In 2001, a major crisis broke on the equity market. It involved numerous elements: large leveraged positions which went wrong, accusations of market manipulation, a payment crisis at the Calcutta exchange, fraud in the banking system, ethics violations at the Bombay stock exchange. This crisis was valuable in breaking this five-year deadlock and moving on with reforms.in June 2001,tradingin 2001,tradingin index options commenced &within a matter matter of weeks, liquidityimproved sharply. Over the 1990s, the equity equ ity market became a nationwide platform with real-time capability for trading and settling stock transactions. However, comparable improvements in the infrastructure for of both exchange institutions and SEBI is highly limited.
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STOCK MARKET The term ‘the stock market’ is a concept con cept for the mechanism that enables the trading of company stocks, other securities, and de rivatives.The stocks are listed and traded on stock exchanges which are entities (a corporation or mutual organization) specialized in the business of bringing buyers and sellers of stocks and securities together.
Equity/Share: Total equity capital of a company is divided d ivided into equal units of small denominations, each called a share. For example, in a company the total equity capital of Rs. 2,00,00,000 is divided into 20,00,000 units of Rs 10 each. Each such unit of Rs. 10 is called a share. Thus, the company then is said to have 20,00,000 equity share of Rs 10 each. The holders of such shares are members of the company and have h ave voting rights. There are now stock markets in virtually every developed and most developing economies, with the world’s biggest being in the United States, UK, Germany, France, India an d Japan.
Function and purpose: The financial system performs three main tasks: first it handles transfer of payments: and third, it spreads and reduces (local enterprise) economic risks in
9 relation to the players targeted returns. The smooth functioning of all these activities facilitates economic growth in that lower costs and enterprise risks promote the productions of g oods and services as well as employment. employment. In this way the financial system contributes contributes to increased business investments and vice versa. Share prices also affect the wealth of households and their consumption. Therefore, central banks tend to keep an eye on the control and behavior of the stock market and, in general, on the smooth operations of financial system functions.
Trading: Participants in the stock market range from small individual stock investors to large hedge fund traders, who can be based anywhere.
Listing: Listing means admission of securities of an issuer to trading privileges on a stock exchange through a formal agreement. The prime objective of admission to dealing on the Exchange is to provide liquidity and marketability to securities.
Securities A Security gives the holder an ownership interest in the assets of a company. For example, when a company issues security in the form of stock, they give the
10 purchaser an interest in the company’s assets in excha nge for money. There are a number of reasons why a company issues securities: meeting a short – term cash crunch or obtaining money for an expansion are just two.
TRADING IN INDIA: NSE introduced for the first time in India, fully automated screen based trading. It used a modern, fully computerized trading system designed to often investors across the length and breadth of the country a safe and easy way to invest. The NSE trading system called National Exchange for Automated Trading (NEAT) is a fully automated screen based trading system, which which adopt the principle of an order to driven market.
Regulator: The responsibility for regulating the securities market is shared by department of economic affairs (DEA), department of company affairs (DCA), Reserve Bank of India (RBI) and securities and exchange board of India (SEBI).
WHAT IS SEBI AND WHAT IS ITS ROLE The securities and exchange board of India (SEBI) is the regulatory authority in India established under section 3 of SEBI act 1992. SEBI act, 1992 provides p rovides for establishment of Securities and Exchange Board of India (SEBI) with statutory powers for a protecting the interests of investors in securities (B) promoting the developing of securities market and (c) regulating the securities market. Its regulatory jurisdiction extends over corporate in the issuance of capital and
11 transfer of securities, in addition to all intermediaries and person associated with securities market. SEBI has been obligated to pe rform the aforesaid function by such major is its thinks fit. In particular, it has power for: Regulating the business in stock exchanges exchang es and any other securities market Registering and regulating the working of stock brokers, sub-brokers etc. Promoting and regulating self – regulatory organizations. Prohibiting fraudulent and unfair trade practices. Calling for information from, undertaking inspection, conducting inquiries and audits of stock exchanges, intermediaries intermediaries , self- regulatory regulatory organizations, mutual funds and other persons associated with the securities market.
STOCK EXCHANGE : Role of a Stock Exchange in buying and selling shares: The stock exchange in India under the supervision of the regulatory authority, the securities and exchange board of India (SEBI), provide a trading platform buyers and sellers can meet to transact transact in securities. The trading trading platform provided by NSE is an electronic one and there is no need for buyers and sellers to meet at of physical location to trade. They through the computorised trading screens available with the NSE trading members or the internet based trading facility provided by the trading members of NSE.
NSE: The National Stock Exchange (NSE) located in Bombay, in Indias first debt market. It was set up in 1993 to encourage stock exchange uniform through system modernization and competition competition it opened for trading in mid 1994. It was
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recently accorded recognition as a stock exchange by the department department of company affairs. The instrument traded are treasury bills, government securities and bonds issued by public sector companies.
BSE: Bombay stock exchange Limited is the oldest stock exchange in Asia with a rich heritage.Popularly known as BSE. It was established as “ The Native Share & Stock Brokers Association” in 1875. It is the first stock exchange in the country to obtain permanent recognition in1956. From the govt. of India under the securities contracts (regulation) act 1956. The exchanges pivotal and pre-eminent role in the development of the capital market is widely recognized and its index, Sensex is tracked worldwide. The Exchange has a nation-wide reach with reach with a presence in in 417 cities cities and towns of India. The systems and processes processes of the Exchange are designed to safeguard market integrity and enhance transparency in operations. During the year 2004-05 the trading volumes on the exchange showed robust growth.
CHAPTER II COMPANY PROFILE :
ANGEL BROKING LIMITED, NEW DELHI
(Services Truly Personalized)
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HISTORY: Angel Group of Companies was brought to life by Mr. Dinesh Thakkar. He ventured into stock trading with an intention to raise capital for his own independent enterprise. However, he recognized the opportunity offered by the stock market to serve individual investors. Thus India’s first retail-focused stock-broking house was established in 1987. Under his leadership, Angel became the first broking house to embrace new technology for faster, more effective and affordable services to retail investors. Mr. Thakkar is valued for his understanding of the economy and the stockmarket. The print and electronic media often seek his views on the market trend as well as investment strategies.
GROUP: Angel broking is recent years has expended its reach in health care and financial services where in it has multiple specialty hospital and labs which provided healthcare services and multiple financial services such as secondary market equity servicesportfolio management services, depository services etc.Angel Broking financial services group companies of Angel Broking Limited, provide services in Equity, Commodity, and financial Services business .
ANGEL BROKING LIMITED IS a Member of National Stock Exchange of India and Bombay Stock Exchange of
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India. Depository participant with National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL). 3. A SEBI approved portfolio Manager .
OFFICES: The company has offices located at prime locations in Mumbai, New Delhi, Kolkata And chennai. The offices are centrally centrally located to cater to the requirements requirements of Institutional and corporate clients, and retail clients and for ease of operations due To proximity to stock exchanges and banks.
COMMUNICATION: The company has its disposal an efficient network of advance communication system And intends to install CRM facility, besides this it is implementing interactive clients Information dissemination system which enables clients to view their latest client information on web. It has an installed multiple WAN interconnect the branches to communicate on real time basis.
MANAGEMENT: Mr. Dinesh Thakkar is chief executive officer and Managing Director of Angel Broking Limited. He is also the CEO&MD of the parent company Angel Broking Limited and is managing the entire operation of both the company. CEO is supported by various HOD who are creditable professional of there respective field and they are further working with team of professional consisting
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of chartered accountants MBA with varied experience in financial services and stock broking functions. The board of Directors consists of Mr. Amit Majumdar as chairman and Mr. Rajeev Phadke, Mr. Vinay Vinay Agarwal, Mr. Mr. Nikhil Daxini as Directors.
MSSION: TO BE India’s first multinational multinational providing complete financial services solutionacross the globe.
VISION: Providing integrated financial care driven by the relationship o f trust and confidence.
CORPORATE STUCTURE: The organization is led by individuals who are professionals and leaders in every sense of the word. Exports in there respective domains, esteem members of board of Directors .
N am e
Designation
Mr. Dinesh Thakkar
Founder chairman
Mr. Lalit Thakkar
Director-research
Mr. Amit Majumdar
Director-finance
Mr. Rajiv Phadke
Director-HR.
Mr. Vinay Agrawal
Director-Equity Broking
16 Mr. Nikhil Daxini
Director-Marketing
Mr. Hitungshu Debnath
Director-Wealth management
PRODUCTS & SERVICES: Equity Trading Commodity Trading Mutual funds promotion Depository services Margin Financing NRI-Desk Management proximity to stock exchanges and banks.
Equity Trading: For the first time Angel Broking investing commodity the power to be associated with the elite dealing rooms and freedom to execute trade on there own. That is one may trade from their branches or trade own over the net and with that expertise and assistance.
Depository Services: Angel Broking is among the few major Depository Participants holding securities worth more than Rs.6000 crore under u nder its management .RSL provides depository services investors as a depository participant with NSDL and CDSL.
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Commodity Trading: Commodities are a word originated from the French word ‘commodity’ means benefit profit . Angel commodities Limited is a member of both the exchange (MCX & NCDEX) that allows trading in all the commodities traded at both the exchange . At present , trading in commodities is restricted to futures contracts only.
Benefits of Commodity Trading: To investors: investors always look for alternative investments avenues where they can diversify their funds to achieve their financial goals. In financial market, commodities have rapidly emerged as a major investment tool as they help in diversifying investments and to hedge against inflation , greatest threat to any investor.
MUTUAL FUNDS SERVICES: Angel Broking is also promoting mutual funds of all companies. CORPORATE ADVISORY GROUP: Corporate advisory group provides various solutions to corporate bank s and FIs on the management of debit , equity and investments. The services extends from advising client to earn maximum profit by investing through selected papers like MF/PMF etc.
PORTFOLIO MANAGEMENT SYSTEM: Portfolio management services manage client’s wealth more efficiently reduces
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risk by diversifying across assets ,sectors and funds, and maximizing returns at managed levels of risk . This service could also be called as “transparent collective investments”. INVESTMENT BROKING DIVISION: Angel Broking provides innovative, integrated and best – fit solutions to their corporate customers, it is continuous endeavor to provide value enhancement through diverse financial solution on an on-going basis ,through products like corporate debt , private equity , IPO, ECB, FCCB, GDR/ADR etc. SATISFACTION LEVEL OF THE EXITING CLIENT S OF ANGEL BROKING ON THE FOLLOWING PARAMETERS : Services effectiveness Handling queries Problem handling Product diversity Relation with customer Product knowledge of employees Employee behavior Technical expertise of employees Employee motivation Marketing strategies adopted by co. Sales source Facilities provided by the co. Promotional activities undertakan by the co.
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CHAPTER-III
DISCUSSION ON TRAINING: WORK PROFILE: To generate leads by telecalling canopies, canop ies, presentations at various Banks or corporate offices and also by personal meetings and to close the deal along with the handling of the customer’s queries regarding share trading, account opening and maintenance, software installation and demonstration
Objectives: To create awareness among the people about the different products offered by thecompany in the market through telecalling, canopies, presentations etc. To generate leads for endorsement of deals. To accompany the ‘relationship manager’ on his visits to the prospective clients. To open demat accounts. To learn how to work in a team. To acquaint myself with the work culture. To understand the operating terminals of both equity and commodity market. To learn the trading procedures of equity and commodity market.
Target/ Task: Overall Target: To generate at least 15 leads per month in the whole tenure of internship programmer.
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Strategy: To achieve a goal successfully one needs to sketch a perfect roadmap or strategy to the destination and also need to follow the path strictly. The strategies applied to achieve the above mentioned targets are:creating awareness among the audience about the brand product of the organization through: providing power point slides & word documents through E-mails. Applying presentation skills in different organizations. World of mouth publicity. Hunt for prospective customers through following marketing strategies:Telecalling Arranging canopy Personal visits Clients references Promotional activities Database provided by the co. or yellow pages . ACHIEVEMENTS: Applauded for managing the task of account opening efficiently. Generated 200 leads i.e., 120% of the target assigned. Opened 50 D-Mat and trading accounts which is an achievement. Given business of Rs.400000 through margin money. Generated revenues for the organization by performing havy trading on behalf of the self developed clients.
21 CHAPTER- IV RESEARCH: We at Angel Broking believe in providing independent research for client to make investment decisions, with strict emphasis on self regulation avoiding possible conflict of interest in objectively. Backed by a strong pool of highly skilled research analysis we offer varied research product and services .
OUR RESEARCH PRODUCTS: Fundamental research Technical research Daily reports Intraday trading tech calls Intraday derivative call Directional F & O calls Structured products Index Arbitrage Arbitrage between Index (NIFTY) Futures and its constitutes (Underlying Stock Futures). Volatility Trading. Arbitrage between volatilities i.e. between implied volatility of option and forecasted volatility of underlying stock futures. RESEARCH METHODOLOGY: The objective of the present study can be accomplished by conducting a
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systematic market research. Market research is the systematic design, collection,analysis and reporting of data and finding that are relevant to different \ marketing situations facing the company. The marketing research process that adopted in the present study consists of the following stages.
Defining the problem and the research objective: The research objective states what information is needed to solve the problem. The objective of the research is to drive the clients of ANGEL BROKING. And also to obtain information from other competitor companies regarding their client services . Developing the research plan: Once the problem is identified, the next nex t step is to prepare a plan for getting the information needed for the research. The present study adopted the exploratory approach wherein there was a need to gather large amount of information before making a conclusion. Collection and Sources of data: Market research requires two kinds of data, i.e., primary data and secondary data. Being a firm in the financial industry data gathering here involved usage of both primary and secondary data though there was an extensive usage of primary data. Well- structured questionnaires were prepared for the clients. There were personal interview surveys surveys for collecting information regarding other competitor companies. The questionnaires contained close-ended questions.
23 Wherein the main objective was to get an insight into how people measure the things. Secondary data was collected from various boo ks and web sites. SAMPLING PLAN: Sampling units : The respondents were the EXISTING CLIENT of ANGEL BROKING.Sample Size: Survey was conducted for 100 respondents. The respondents were asked to fill questionnaires about their o pinion on the services provided by ANGEL BROKING.
c. Analyze the collected information: This involves converting raw data into useful information. It involves tabulation of data, using statistical measures.
d.Report research findings: This phase marks the culmination of the marketing research effort. The report with the research finding is a normal written documents. The research findings is a formal written document. The research findings and personal experience was used to propose recommendations to develop the services of ANGEL BROKING& develop a better image.
CHAPTER-V:
SUMMARY & CONCLUSION: LEARNING EXPERIENCE: To be a part of Angel broking was the best opportunity for me to have:
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A practical exposure of corporate world. Independently handling of clients. Came to know the practical problems of clients. Learnt the technical procedures and analysis of various research systems, such as marketing research and equity research. Learnt corporate culture.
CONCLUSIONS:
In a nutshell, I have learned various practical aspects of trading in the stock market . I have made about 100-150 call per day in the initial days of training so as to generate maximum leads. I have also attended meeting in which I had to give the demo of the software of the along with its installation. In handled the queries of the new& existing clients of the company pertaining to different issues like opening of accounts, trading procedures etc. In addition, I did personal meeting with clients in order to close the deals. I handled the queries of both the new & existing clients of the company pertaining to different issues like opening of accounts trading procedures etc. I also assisted in executing trades from the existing clients so as to get brokerage for the company . I also took part in canopy active at TCS Gurgaon. I also took part in presentation at various banks. CONCLUSUON OF THE PROJECT : Thus it can be concluded that Angel Broking has product diversity which is a very important feature.
25 Angel Broking provides all kind of trading facilities to its customers. The existing client of Angel broking are satisfied with their company. The requirements of the existing client of Angel Broking is that some of them want cash based trading & a little more assistance by their respective relationship managers.
LIMITATIONS: Through the present study aims to achieve the above mentioned objectives in full earnest and accuracy, it may be hampered h ampered due to certain limitations . Some of the limitations of this study may be summarized as follows : Getting accurate responses from the respondents due to their inherent problems is difficult. They may be partial or refuse to corporate.
SUGGESTIONS: RM’ s should take more interest in handling clients queries. Cash based trading can fetch more customer to the company. Angel Broking management should do efforts to the sales force . More emphasis should be given on the publicity of the company.
BIBLIOGRAPHY: REFERENCES List of Books and other supplementary material referred: Textbook on financial management , ICMR Publication , Hyderabad. Kotler , Philip and Gary Armstrong; principle of marketing pearson education. Web site visited : www.angeltrade.com www.angelbroking.com
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Mukesh Kumar Yadav MBA SEM -4 Email:
[email protected] [email protected] Rai Business School New Delhi -44
