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SUMMER TRAINING REPORT ON COMPANY OVERVIEW AND CUSTOMER BUYING PREFERENCE

AT

Karvy Stock Broking Ltd.

IN PARTIAL FULFILLMENT OF THE REQUIREMENT IN THE MBA DEGREE OF VNSGU , Surat

SUBMITTED BY:

GUIDED BY: INTERNAL GUIDE AT GRIMS: Prof. Pankaj Patel EXTERNAL GUIDE AT CO. Mr. Shiril Vora

Kaushal V. Bhatt

G.I.D.C. RAJJU SHROFF ROFEL INSTITUTE OF MANAGEMENT STUDIES G.I.D.C. VAPI

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DeclarationI, Mr. Kaushal V. Bhatt student of GIDC RAJJU SHROFF ROFEL INSTITUTE OF MANAGEMENT STUDIES, VAPI, affiliated to VEER NARMAD SOUTH GUJARAT UNIVERSITY, SURAT hereby declare that this project report is a result of culmination of my sincere efforts. I declare that this submitted work is done solely by me and to the best of my knowledge; no such work has been submitted by any other person for the award of degree or diploma. I also declare that all the information collected from various secondary sources has been duly acknowledged in this project report.

_______________________ (Kaushal Bhatt)

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PROJECT COMPLETION CERTIFICATEThis is to certify that

Mr. Kaushal Bhatt

has

satisfactorily completed the project work entitled, Consumer Survey under my Guidance Based on the declaration made by the candidate and my association as a guide for carrying out this work, I recommend that this project report for evaluation as a partial requirement of the MBA Programme of Veer Narmad South Gujarat University.

Date:

Prof. Pankaj Patel GRIMS, VAPI

This project is forwarded for evaluation/Vive-Voce Examination to the Veer Narmad South Gujarat University.

Date: (Dr.R.S.Shah) Director, GRIMS, VAPI

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ACKNOWLEDGEMENTTo acknowledge is very great way to show your gratitude towards the persons who have contributed in your success in one or other way. I find words inadequate to express my gratitude to Mr. SHIRIL VORA for providing me an opportunity to carry out my summer training as such a well reputed and leading stock broking company Karvy Stock Broking Limited (KSBL). At the very outset of the training I deem it is my pious duty to express my sincere thanks also to companys Branch Manager Mr. Sameer Vora for his continuous guidance and supervision and support during the training period. I would also like to thank to Ms. Jaypalsinh Rathod, Mr. Dhruvpalsinh Jadeja, who have spared sometime and helped me out to carry on my project work successfully at the best level. I would like to thank Prof. Pankaj Patel, who has guided me for my project work and provided encouragement through out my training period. This study could not have been successful without the valuable input of the customer of Karvy.

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PREFACEI know that training is for the development and enhancement of the knowledge in this particular field. It can never be possible to make a mark in todays competitive era only with theoretical knowledge when industries are developing at global level, practical knowledge of administration and management of business is very important. Hence, practical study is of great importance to M.B.A. student.

With a view to expand the boundaries of thinking, I have undergone 3rd SEM TRAINING at Karvy Stock Broking Limited (KSBL). I have made a deliberate to collect the required information and fulfill training objective.

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EXECUTIVE SUMMARY

For every Stock Broking Company one has to compulsorily know how the people are taking their decision regarding the investments. Herewith, I have tried to compile the CUSTOMER BUYING PREFERENCE in Bhavnagar City. Therefore I have selected this topic in order to know the mindset of the people and how they decide with which company, they should deal with. Ive tried to find out various aspect of the investor in Bhavnagar City. For that I have taken the help of graphs to represent the research data in a graphical manner.

This project report also gives brief information of the other companies and all the four-departmental activities of Karvy Ltd.

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INDEXDECLERATION CERTIFICATE ACKNOWLEDGEMENT III PREFACE EXECUTIVE SUMMARY Sr. No. 1 2 3 4 5 6 7 8 9 10 11 Particulars GENERAL INFORMATION ABOUT KARVY SWOT ANALYSIS MARKETING DEPARTMENT FINANCIAL DEPARTMENT HUMAN RESOURCE DEPARTMENT OPERATION DEPARTMENT RESEARCH METHODOLOGY LIMITATION CONCLUSION BIBLIOGRAPHY I II IV V Page No. 2 26 35 48 68 72 87 98 102 118 119

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ABOUT INDUSTRY: HISTORY OF THE STOCK BROKING INDUSTRYIndian Stock Markets are one of the oldest in Asia. Its history dates back to nearly 200 years ago. The earliest records of security dealings in India are meager and obscure. By 1830's business on corporate stocks and shares in Bank and Cotton presses took place in Bombay. Though the trading list was broader in 1839, there were only half a dozen brokers recognized by banks and merchants during 1840 and 1850. The 1850's witnessed a rapid development of commercial enterprise and brokerage business attracted many men into the field and by 1860 the number of brokers increased into 60. In 1860-61 the American Civil War broke out and cotton supply from United States of Europe was stopped; thus, the 'Share Mania' in India begun. The number of brokers increased to about 200 to 250. However, at the end of the American Civil War, in 1865, a disastrous slump began (for example, Bank of Bombay Share which had touched Rs 2850 could only be sold at Rs. 87). At the end of the American Civil War, the brokers who thrived out of Civil War in 1874, found a place in a street (now appropriately called as Dalal Street) where they would conveniently assemble and transact business. In 1887, they formally established in Bombay, the "Native Share and Stock Brokers' Association" (which is alternatively known as "The Stock Exchange"). In 1895, the Stock Exchange acquired a premise in the same street and it was inaugurated in 1899. Thus, the Stock Exchange at Bombay was consolidated. Thus in the same way, gradually with the passage of time number of exchanges were increased and at currently it reached to the figure of 24 stock exchanges.

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DEVELOPMENTAn important early event in the development of the stock market in India was the formation of the Native Share and Stock Brokers Association at Bombay in 1875, the precursor of the present-day Bombay Stock Exchange. This was followed by the formation of associations /exchanges in Ahmedabad (1894), Calcutta (1908), and Madras (1937). IN addition, a large number of ephemeral exchanges emerged mainly in buoyant periods to recede into oblivion during depressing times subsequently. In order to check such aberrations and promote a more orderly development of the stock market, the central government introduced a legislation called the Securities Contracts (Regulation) Act, 1956. Under this legislation, it is mandatory on the part of stock exchanges to seek government recognition. As of January 2002 there were 23 stock exchanges recognized by the central Government. They are located at Ahemdabad, Bangalore, Baroda, Bhubaneshwar, Calcutta, Chenni,(the Madras stock Exchanges ), Cochin, Coimbatore, Delhi, Guwahati, Hyderbad, Indore, Jaipur, Kanpur, Ludhiana, Mangalore, Mumbai(the National Stock Exchange or NSE), Mumbai (The Stock Exchange), popularly called the Bombay Stock Exchange, Mumbai (OTC Exchange of India), Mumbai (The Inter-connected Stock Exchange of India), Patna, Pune, and Rajkot. Of course, the principle bourses are the National Stock Exchange and The Bombay Stock Exchange, accounting for the bulk of the business done on the Indian stock market. While the recognized stock exchanges have been accorded a privileged position, they are subject to governmental supervision and control. The rules of a recognized stock exchanges relating to the managerial powers of the governing body, admission, suspension, expulsion, and re-admission of its members, appointment of authorized representatives and clerks, so on and so forth have to be approved by the government. These rules can be amended, varied or rescinded only with the prior approval of the government. The Securities Contracts (Regulation) Act vests the government with the power to make enquiries into the affairs of a recognized stock exchange and its business, withdraw the recognition the task of regulating the stock exchange to the Securities Exchanges Board of India.

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BSE (BOMBAY STOCK EXCHANGE)The Stock Exchange, Mumbai, popularly known as "BSE" was established in 1875 as "The Native Share and Stock Brokers Association". It is the oldest one in Asia, even older than the Tokyo Stock Exchange, which was established in 1878. It is a voluntary non-profit making Association of Persons (AOP) and is currently engaged in the process of converting itself into demutualise and corporate entity. It has evolved over the years into its present status as the premier Stock Exchange in the country. It is the first Stock Exchange in the Country to have obtained permanent recognition in 1956 from the Govt. of India under the Securities Contracts (Regulation) Act, 1956. The Exchange, while providing an efficient and transparent market for trading in securities, debt and derivatives upholds the interests of the investors and ensures redresses of their grievances whether against the companies or its own memberbrokers. It also strives to educate and enlighten the investors by conducting investor education program and making available to them necessary informative inputs. A Governing Board having 20 directors is the apex body, which decides the policies and regulates the affairs of the Exchange. The Governing Board consists of 9 elected directors, who are from the broking community (one third of them retire ever year by rotation), three SEBI nominees, six public representatives and an Executive Director & Chief Executive Officer and a Chief

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