strategic

CHAP. 1.

INTRODUCTION OF THE ORGANIZATION

History & Milestones The story of MOSL goes back many years, when Mr. Motilal Oswal and Mr  Raamdeo Agrawal met each other as students in a Mumbai suburban hostel In the early eighties. Both the young chartered accountants hailing from a Rural & an unpretentious background had a common dream viz ’to build a Professional organization with strong value systems, to provide reliable & Honest investment advice to investors’. Thus was born their first enterprise Called "Prudential Portfolio Services" in 1987.

1987 •

Mr. Motilal Oswal and Mr. Raamdeo Agrawal lay the foundation of a great partnership by starting a sub-broking firm. The venture stands out from the rest due to their approach of Research-based broking even when sub-brokers.

1990 •

 After just just three years years in the business, business, .Motilal Oswal. Oswal. is formed Through acquisition of membership on The Bombay Stock Exchange (BSE). Three more memberships taken in later years.

1994 •

MOSL acquires NSE Membership and plans for major expansion of  its retail network.

•

Inquire (Indian Equity Research) is formally created at a 2500 sq. ft office in South Mumbai with bigger and better quality infrastructure than the corporate office. Since then nearly 20% of revenue is

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 Allocated  Allocated to research. research. First First Domestic Domestic Stock broking broking house house to have have such a strong Research focus

1995 •

.Motilal Oswal. Enters Institutional Broking business.

1996 •

Wealth Creation Study started. First of its kind study initiated to identify biggest and fastest wealth creating companies in Indian Stock markets.

1998 •

Mr. Motilal Oswal joins the Governing Board of The Stock Exchange, Mumbai.

2000 •

Both Mr. Motilal Oswal and Mr. Raamdeo Agrawal receive Rashtriya Samman Patra from Central Board of Direct Taxes for being amongst the top 50 tax payers in India from FY94-FY98

•

 Acquires its 100th 100th Franchisee Franchisee / Channel Channel Partner Partner and emerges as as a leading player in the Indian Broking Sector 

•

Becomes a Depository Participant of Central Depository Services Limited (CDSIL)

2001 •

Legendary marketing guru Shunu Sen.s services taken to revitalise retail marketing strategy and branding efforts.

•

Starts offering Derivatives products and advisory services on both BSE as well as NSE

2

 Allocated  Allocated to research. research. First First Domestic Domestic Stock broking broking house house to have have such a strong Research focus

1995 •

.Motilal Oswal. Enters Institutional Broking business.

1996 •

Wealth Creation Study started. First of its kind study initiated to identify biggest and fastest wealth creating companies in Indian Stock markets.

1998 •

Mr. Motilal Oswal joins the Governing Board of The Stock Exchange, Mumbai.

2000 •

Both Mr. Motilal Oswal and Mr. Raamdeo Agrawal receive Rashtriya Samman Patra from Central Board of Direct Taxes for being amongst the top 50 tax payers in India from FY94-FY98

•

 Acquires its 100th 100th Franchisee Franchisee / Channel Channel Partner Partner and emerges as as a leading player in the Indian Broking Sector 

•

Becomes a Depository Participant of Central Depository Services Limited (CDSIL)

2001 •

Legendary marketing guru Shunu Sen.s services taken to revitalise retail marketing strategy and branding efforts.

•

Starts offering Derivatives products and advisory services on both BSE as well as NSE

2

2002 •

Mr. Navin Agarwal, Head of Equity Research & Institutional sales, is inducted in the Board of Directors

•

MOSL consolidates its retail operations & upgrades its IT / Back Office infrastructure to cater to its growing network of branches, Franchisees and Channel Partners.

•

Retail network completes coverage of 100 cities in India.

•

Direct servicing of HNI clients is initiated.

•

10,000 Depository clients acquired.

2003 •

MOSL Portfolio Management Services launched with Mr. Raamdeo  Agrawal  Agrawal as the Portfolio Portfolio Manager. Manager. Uniquely Uniquely structure structured d performance performance related fees.

•

Inquire team is successful in capturing the uptrend in Banking,  Auto and Infrastructure Infrastructure sectors. sectors.

•

15,000 Depository clients acquired.

•

9 own branches setup at 7 cities to provide Equity Advisory Services. More in the pipeline.

•

150 outlets in 110 cities across 18 states & one Union Territory in India manned by 1000 people servicing over 15,000 Retail and Institutional Investors.

2004 •

Presence expanded to 270 outlets in 150 cities and 20 states

•

Value PMS delivers a whopping 160% post tax returns for the period ended April 2004

•

Bulls Eye PMS - A momentum based PMS launched

•

Start of the Solid Research Solid Advice campaign 3

2005 •

 Asiamoney Brokers Poll 2005 rates Motilal Oswal Securities Securities – Best Local Broke Brokera rage, ge, Most Most Inde Indepen pende dent nt Resea Research rch House House,, Best Best in Sales Sales and and Service.

•

Launches two new Portfolio Management Schemes - Value Hedging for  derivatives and Discover Value for the Rs5 lakh to Rs50 lakh category  Acquires local brokerage brokerage Gayatri Gayatri Capitals from Andhra Pradesh and Varghese from Bangalore

•

Deepest distribution in the stock broking segment with 700 outlets in 320 cities and 1.2 lakh clients

•

Places 9.29% with two leading private equity investors – New Vernon Private Equity Limited and Bessemer Venture

2006 •

•

Issues 14% of companies equity to employees as ESOPs  Acquires a leading leading south Indian Indian brokerage brokerage firm firm - Peninsula Peninsula Capital Markets

•

Enters Private Equity and plans entry into Investment Banking businesses

•

Value PMS gives 390% returns to its investors between Feb 2003 and March 2006

•

Relaunches its e-Broking service through a nationwide campaign. First advice-based online trading proposition in the Indian markets

•

 Another milestone in distribution distribution - 1019 1019 outlets, outlets, 375 cities, cities, Serving 1.61 lakh clients

•

Has a 1400 member team working to achieve the company’s vision

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Nature

Motilal Oswal Securities is a leading research and advisory based stock broking house of India, with a dominant position in both institutional and retail broking. Asiamoney Brokers Poll 2005 has ranked MOSL the best Indian brokerage firm. There are various other categories where we have been rated number one in most independent research, sales and service etc. by the Brokers Poll.

In March 2006, AQ Research, a firm that analyses the accuracy of a brokers research call, declared Motilal Oswal Securities the best research house for Indian stocks.

Motilal Oswal Securities has witnessed rapid organic growth due to favorable market conditions as well as efforts put by the company Itself. The company grows inorganically through acquisition of three significant regional broking firms from Andhra Pradesh, Karnataka and Karalla in the year 2005-06. Over a period of time many more regional broking firms may be acquired to gain solid footing in various regions of India.

The company was founded in 1987 as a small sub-broking unit, with just two people running the show. Focus on customer-first-attitude, ethical and transparent business practices, respect for professionalism, research-based value investing and implementation of cutting-edge technology have enabled us to blossom into an almost two thousand member team.

Our institutional business unit has relationships with several leading Foreign institutional investors (FIIs) in the US, UK, Hong Kong and Singapore. In a recent media report we were rated as one of the top-10 brokers in terms of  business transacted for FIIs.

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The retail business unit provides equity investment solutions to morethan 150,000 investors through 900 outlets spanning 340 cities and 24states. We provide advice-based broking (equities and derivatives),Portfolio management services (PMS), e-Broking, depository services, Commodities trading, IPO and mutual fund investment advisory services. Its Value PMS Scheme gave a 402.74 % return since inception ( Feb2003) , ( Sensex is 270.69% & Nifty is 245.11%). The performance of Value Hedging since inception ( Oct 2005) is 32.76%.Such an outstanding performance can be only attributed to our single mindedfocus on research-based value investing. Motilal Oswal Securities invests almost 5-10% of its revenue on equity research and hires and trains the best resources to become advisors to its valued clients.

The organization finds its strength in its team of young, talented and confident individuals. Qualified professionals carry out different functions under  the able leadership of its promoters, Mr.Motilal Oswal and Mr. Raamdeo Agrawal. Stringent employee selection process, focus on continuous training

and adoption of best management practices drive the quest to achieving our  Vision.

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MOSL Vision

Guiding Principles & Core Values 

Customer interest is paramount



Ethical and transparent business practices



Respect for professionals, associates and business partners



Research based value investing



Cutting edge technology to ensure world-class customer service

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Organization Structure

Mr. Motilal Oswal Chairman and Managing Director 

Mr. Motilal Oswal is the promoter of Motilal Oswal Securities Ltd. He is an member of Institute of Chartered Accountants of India and started the business along with the co-promoter Mr. Raamdeo Agarwal in 1987. Business  Administration is his forte, Honesty, transparency and client goodwill form the core of his business practice.

.” S ervice

is required in everything, in research, in execution and in

settlement. It is going to be the key to survival. If you give good service and value to your  clients, it will translate into good business ”..

This has been a strong belief of Mr. Motilal Oswal and he has not only practiced it himself but also made efforts to inculcate similar values in the employees of the organization.

He had been elected as a Director of BSE and joined its governing board in1998. He is currently a member of various committees of CDSIL and SEBI.

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Mr. Raamdeo Agrawal Joint Managing Director 

Mr. Raamdeo Agrawal is the co-promoter of Motilal Oswal Securities Ltd.  A member of the Institute of Chartered Accountants of India & an equity research stalwart, he is the man behind the strong research capability at MOSL.

He is respected by all in the research and broking industry for his valuable insights on issues related to equity research. His firm belief in .Value- Investing., as practiced by the legendary Warren Buffett and Charlie Munger, forms the core of MOSL investment philosophy.

Management Team MOSL management team is regularly engaged in finding ways to improve operational efficiencies and customer satisfaction. You will find CAs, CFAs, ICWAs, CSs, MBAs and IT professionals managing crucial functions, to bring you best products and services - from research & advice to trade execution & settlement. At MOSL we practice meritocracy and each of the team members is provided extensive training.

Training & Manpower Development MOSL conducts various training and development programs regularly to enhance the capabilities of its team. As much as 5% of the salary bill is spent on such programs, which is amongst the highest for a broking organization in India. MOSt is truly a learning organization with lead being taken by the Directors, who regularly participate in top management

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learning programs like Strategic Management Program at Indian School of  Business, Hyderabad, Strategy Summits with Management Gurus like Tom Peters and Dr. Lester Thurow, Dean, Sloan School of Management, (MIT) and Brand Management Seminar by Al Ries etc.

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CHAP. 2. PRODUCT PROFILE

Product Mix

End to End Equity Solutions

MOSL provides end-to-end equity solutions to all categories of its valued clients by using a combination of its numerous products and services. It offers you world-class research-based investment and trading ideas coupled with efficient and reliable trade execution & settlement. Its "default free" record since inception is a unique and exceptional feature in the Indian Stock Markets.

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MOSL values your trust and is committed to upholding it at all costs. We believe that no automated system can be a substitute for the human touch. MOSL combines its Research, IT strengths, ethical business practices and "Customer First Attitude " to provide you end-to-end equity solutions. We invite you to sample any of our products and services. Motilal Oswal Securities Ltd. providing different kind of services to its clients. they are as followed •

   Advised based Broking on BSE / NSE ( Cash & Derivatives )

•

  Portfolio Management Services ( PMS )

•

  Internet Trading ( E Broking )

•

  Timely & Researched based Investment and Trading Ideas

•

  Depository Services ( MODES )

•

   Advised based Mutual Fund

•

  Commodities

•

  IPOs

Advise Based Broking Motilal Oswal Securities Ltd. providing advise based equity trading to its clients. MOSL providing NSE, BSE and F & O trading facility to its customers. It provide mainly broking premier Brokerage Service based on fundamental research. Derivatives (Futures & Options) are ideal instruments to protect your  portfolio against risk. You can trade with index movements, hedge and leverage your portfolio by limiting risk but keeping your upside unlimited.

Its research based advise is very successful in market. They use Orian software for trading, and get connectivity through V-sat facility. They are used Bharti Televenture.s V-sat connection. MOSL have NSE, BSE registration.

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Depository Services In the times of T+2 having a demat account linked to your trading account becomes really convenient. The non-trading members also can avail of our  Depository services. You receive regular account reports and an efficient service at all times. MOSt is a member of both NSDL and CDSL and the service is available at all our outlets in India.

Depository Service Provided By MODES 

 Account Opening



Dematerialization



Rematerialization



 Account Transfer 



Transmission



Nomination



Pledging And Hypothecation



 Account Closures

MOSL E-Broking There is nothing more exhilarating , more daring and more rewarding than making the right trade at the right time. Welcome to our E-Broking platform which brings you a world class experience of online investing. Buying and selling of  shares is now just a click away.

 A multitude of resources like live quotes, charts, research, advice and online assistance helps you take informed decisions. Our robust risk management system and 128 bit encryption gives you a complete security about money, shares, and transaction documents.

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.

MOSL PMS Motilal Oswal Securities runs three types of PMS schemes meant for  investors with different investment preferences. While our  Value PMS scheme is meant for investors with long-term interest in the market, our  Bull’s Eye PMS scheme is meant for investors who want to take moderate risk and generate healthy returns from the equity market from time to time. Discover Value PMS Scheme is create wealth for investors, which comes through consistent over long term.

Its clients, investor community and some of the most prestigious publications like Asia money and Institutional Investors amongst others acknowledge Motilal Oswal Securities as one of the leading research based equity broking house in India. With about 15% of our revenue invested in our  research capability, we have some of the sharpest resources that produce excellent research insights on companies. The same is then passed to our highly rated portfolio management and investment advisory team that works on its personalized investment strategy

MOSL Commodities Investors looking for a fast-paced dynamic market with excellent liquidity can NOW trade in Commodity Futures Market. The Commodity Exchange is a Public Market forum and anyone can play in these vital Commodity Markets. Motilal Oswal Commodities Broker (P) Ltd can certainly be your point of entry to the Commodity Markets. MOCB is a registered tradingcum- clearing member of  NCDEX. Participation is not difficult. All you need is to open an account with us. MOCB shall offer you advice on investments & strategy, provide research and contact you regularly with trading advice.

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MOSL Mutual To enable clients diversify their investments Motilal Oswal Securities Limited has added another product in its bouquet and will now offer mutual funds.

MOSL mutual team is in close contact with various fund houses and interactive sessions are held with fund managers. We will provide you regular  updates on products and new schemes. Being one of the stock brokers we keep a close watch on the markets. Based on your risk appetite, investment horizon and your existing investments we will suggest investment in mutual fund schemes, which are best, suited to you. The fund and scheme selection is done after an in-depth research on parameters like risk adjusted returns, rolling returns, volatility and portfolio churn. We advise a mature and long-term view on mutual fund investments.

MOSL Mutual doesn’t stop at just that, we go a step further to ensure that you get the right NAV, your dividends are credited on time and your account statements are regularly received. You will also receive ourmonthly newsletter  on Mutual Funds "MOSL Mutual". To find out awareness and interest about PMS in Mehsana city.

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Risk factor in Share market The investment made in the securities are subject to market risk and there is no assurance of guarantee that the value of or return on the investment made will always appreciate, it could depreciate to an unpredictable extent. Following are the risk factors as perceived by management:   Investment in equities, derivatives and mutual funds are subject to market risks and there is no assurance or guarantee that the objective of the scheme will be achieved.    As with any investment in securities, NAV of the portfolio can go up or  down depending upon the factors and forces affecting the capital markets. The performance of the schemes may be affected by changes in governments policies, general levels of interest rates and risk associated with trading volumes, liquidity and settlement system in equity and debt market.   The past performance of the portfolio manager does not indicate the future performance of the same Scheme in future or any guaranteed returns through these schemes. The names of the schemes do not in any manner indicate their prospect or  returns. The performance in the equity scheme may be adversely affected by the performance of individual companies, changes in the market place and industry specific and macro economic factors.   Investment in debt instrument and other fixed income securities are subject to default risk, liquidity risk and interest rate risk. Interest rate risk result from changes in the value of the debt instruments. Consequently, the NAV of the portfolio may be subject to fluctuation.   Investment in debt instrument are subject to reinvestment risk as interest rates prevailing on interest amount of maturity due dates may differ from the

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original coupon of the bond, which might resulting the proceeds being invested at a lower rate.   The scheme may invest in non-publicly offered debt securities and unlisted equities. This may expose the scheme to liquidity risk. Engaging in securities lending is subject to risks related to fluctuations in collateral value/settlement/liquidity/ counter party.

The scheme may use

derivatives instruments like index futures, stock futures and options contracts, warrants, convertible securities, swap agreements of any other derivative instruments fo the purpose of hedging and portfolio balancing, as permitted under the Regulations and guidelines. Usage of derivatives will expose the plan to certain risk inherent to such derivatives. As and when the scheme trade in the derivatives market there are risk factors and issues concerning the use of  derivatives that investors should understand.   Derivative products are specialized instrument that require investment techniques and risk analysis different from those associated with stocks and bonds. The use of a derivative requires anunderstanding not only of the underlying instrument but of the derivatives itself. Derivatives require the maintenance of adequate control to monitor the transactions entered into, the ability to asses the risk that a derivative adds to the portfolio and the ability to forecast price or interest rate movements correctly. There is the possibility that a loss may be sustained by the portfolio as a result of the failure of another  party(usually referred to as the .counter party.) to comply with the terms of the derivatives contract. Other risks in using derivatives include the risk of mis pricing of improper valuation of derivatives and the inability 9of derivatives to correlate perfectly with underlying assets, rates and indices. Thus, derivatives are highly leveraged instruments. Even as small price movement in the underlying security could have a large impact on their value. Also, the market of derivative instruments is nascent in India manager.

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Research Products and how to use them

Daily Market Information : Our intelligence network gets latest market news and

information during the market hours, from various sources, for intra-day traking.

Morning Calls : MOSt relationship Managers determine the picks and sells for 

the day, based on the morning meeting with our fundamental and technical analysis teams.

Market Diary: You get a brief on previous day’s market action along with our 

investment recommendations for positional trades. Please note that these are based purely on technical analysis. This is e-mailed to you.

Derivatives Trader : You can follow the actions for the F&O segment from this.

Choose your pick from the list and just follow the directions given. Regular followups come right behind on following days. This is emailed to you.

Derivatives Daily: While "Derivatives Trader" is more view based ideas,

Derivatives Daily gives recommendations based on statistics like open interest, put call ratio, price change, volumes etc.

Monthly and Periodically Sector Scan: The product is based on technical analysis of various sectors

through in-house built sectoral indices. Scrip specific recommendations are done

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on a top-bottom approach with a medium term positional trade outlook based upon weekly charts. Frequency of the product is on as-and-when basis, that is when there is something interesting the sector.

Most Value : It is one of the most valued retail research offerings. We share Mr.

Raamdeo Agrawal’s view on markets, along with model portfolios built for  different risk profiles with a medium to long-term perspective. You also benefit form the theme articles written on equity investments. Also, the numbers are format for all scrips covered by Inquire. This is both e-mailed and printed for you. P eriodic Company and Sector report : Our research analysts stuey the

performance of man companies belonging to different sectors, through constant contact and discussions with the management, studying the financials, corporate announcements like M&A, new product introduction etc. Based on the information thus collected, they project the expected growth and valuation and, therefore, the recommendation. These companies are closely watched and any change noticed leads to suitable adjustment in the recommendation. U pdates:  As the name suggests, under the segment we cover company updates

including results, company visits, any significant happening, etc. The updates would cover the entire event and its fall out/impact on the company or any particular sector.

Quarterly Results Preview :  Additionally, company publish quarterly quarterly

previews and India strategy reports to keep you updated on all details about your  stocks.

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CHAP. 3.

SWOT ANALYSIS

Strength :-

•

   A strong relationship with customers.

•

  The leadership of MOSL is very good

•

  The Research Team of Motilal Oswal is very powerful. PMS is totally dependent on the research work so it is very beneficial for the PMS.

•

  The service provided to customers by Motilal Oswal is also good

•

    Motilal Oswal uses V-sat technology

•

There is very good co-ordination in employees.

Weakness:-

•

  There is over staffing in company. So many times some of employees

•

have no work and this effects on their moral for work and wastage of  time also.

•

  The time management of company is poor.

•

Turnover or churning ratio of employees in MOSL is very much.

•

Employees are not well educated, they used the information given by MOSL.

Opport unity:-

•

The Equity & Derivative market of Mehsana is very potential.

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•

There is only one branch of Motilal Oswal In Mehsana city. So company is trying to established another branch in main market to remove the distance barrier faced by customer.  The growth of clients in company is constant.

•

  The place where the company is situated is a very famous corporate place so it is beneficial for the company.

•

  Company should arrange seminars regularly for the increasing awareness about the services and its new products.

Threats •

   will face good amount of competition in near future because the Company market is growing and many of the new broking houses are entering in Mehsana.

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CHAP. 4.

RESEARCH METHODOLOGY

(A)Problem Statement:-

It is necessary to have proper, well defined problem. The problem have been defined by relationship manager & other staff members through their  continuous observation that some customers are not satisfied for some reason. So Mr. Vijaybhai patel has assigned us to take out survey of existing customers to find out their satisfaction level.

(B)Objective :-

(1) To know about level of customer satisfaction. (2) To know about level of customer awareness. (3) To know about factors affect customer’s decision to open account in MOSL. (4) To know about customer’s objective to open account in MOSL.

(C) Type of research:-

There are basically three type of research : Exploratory research, Casual research & Descriptive research. Descriptive research is used in this report which used to know about characteristics of certain groups like age, education, sex & occupation. Descriptive research is well structured & rigid.

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(D) Sources of data:Usually research start by examining secondary data but for this report reliable secondary data was not available so project is heavily depended on primary data.

(E) Data collection:-

(1) Sampling Plan:-

There are basically two sampling method : probability sampling & non-probability sampling.

We have used simple

random sampling We have divided total area into different strata. Then we have approached randomly to customers in different strata. Our survey is limited to existing customer of the Motilal Oswal Securities Limited. There are nearly 800 total customers in MOSL. We have taken 150 customers as our sample size.

(2) Research Instrument:-

Primary

data

can be

collected

by Questionnaire

&

Observation. Observation method is not used frequently because it is very costly & time consuming process. Questionnaire is widely used method

for primary data

collection. There are mainly four types of questionnaires: •

Structured disguised

•

Structured non-disguised

•

Non-structured disguised

•

Non-structured non-disguised 23

We have used structured non-disguised questionnaire for  our survey in which company’s name & objective of our survey is disclosed to customers.

(3) Mode of Contact:-

For this survey we used personal interview as contact method. We have limited territory for our survey. We are also provided name & address of existing customers which make our  task easy to use personal interview method.

(F) Data processing & Analysis:-

(1) List the name of the broking company you know?

Broking firm sharekhan Indiainfoline stockholding  Angel broking Marwadi Others

Response 132 33 90 66 50 41

24

132

140 120

sharekhan 90

100 80

Indiainfoline stockholding

66 50

60 33

40

41

 Angel broking Marwadi Others

20 0 Response

Analysis & findings:-

We have got total 412

response which means avg.2 to 3

response per person per questionnaire. That indicates very less market awareness in existing customer. Out of 150 customer 132

customer

know about Sharekhan. The

reason behind this is that the head of the department Mr.Vijay Patel was a employee of Sharekhan. It indicates that the relationship plays a very vital role to attract customer.

Stock holding is on second highest position. Stock Holding is a one of  the oldest broking firm in the city & it has a government holding that is why people trust on Stock Holding.

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(2) How did you get to know about Motilal Oswal Securities Ltd.?

Attributes  Advertisement Hoardings Existing customers word of mouth Others

70

Response 24 0 63 47 16

63

 Advertisement

60 47

50

Hoardings

40 30

24 16

20 10

0

Existing customers word of mouth Others

0 Response

Analysis & findings:-

63 customers out of 150 have give response that existing customers had told about MOSL to them. That means existing customers are satisfied with mosl.

47 customers have come to know from word of mouth. That means MOSL have very good credit in market.

 Advertisement means information and other things distributed in local public. 24 customers have given response to advertisement. Other  thing includes brand awareness and personal contact. 26

(3)What is your objective to open account in Motilal Oswal Securities Ltd.?

Attributes Trading Ipo Delivery F&O SMS PMS Commodity

120

110 93

100 80

Trading Ipo

77

Delivery

60 40

Response 110 77 93 37 51 8 11

F&O

51

SMS

37

PMS

20

8

11

Commodity

0 Response

Analysis & findings:-

110 customers out of 150 customers have opened their account in MOSL for Trading purpose followed by 93 for delivery & 73 for IPO. At present, in MOSL many new customers are coming to invest in IPO. MOSL is also trying to attract customer to invest in PMS. Some customers who have very less information about share market, heavily depend on information provided by MOSL through SMS service.

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(4)Do you have Demate account in any other institute?

Opinion Yes No

Percentage 39 61

Response 59 91

Percentage

39% Yes No

61%

Analysis & Findings:-

91 out of 150 customers do not have any other demate account except MOSL. That means most customers are satisfied with all services provided by MOSL. As a result, they do not knock competitor’s door.

If yes, then please write the name of the DP

DP Name sherekhan kotak indiabulls stockholding

Response 21 12 8 17

28

uti bank others

10 16

25 21 20 15

sherekhan

17

16

12

indiabulls 10

10

kotak stockholding

8

uti bank 5

others

0 1

Analysis & Findings:-

Mr.Vijaybhai Patel was an employee at Sherkhan before he established MOSL. Because he has maintained very good relationship with customers of  Sherkhan. As a result, many customers of Sherkhan have opened their demate account in MOSL. Stockholding has a very good reputation in Mehsana City. Because it is one of the oldest institution in share market.

(5) What do you think about SMS tips provided by MOSL?

Opinion Excellent Very good Good Fair  Poor 

Response 18 29 58 33 12

29

Response

8%

12% Excellent

22%

19%

Very good Good Fair  Poor 

39%

Analysis & findings:-

 Almost 70% customers are satisfied with the information provided by MOSL ranked as good, very good, and excellent. Many of the customers are new in rest30% customers & ranked fair (22%) & poor  (8%). New customers aren’t satisfied with information provided by MOSL because they have very less information about share market and have more expectation from share market. Many of them have expectation of  90 to 99% from information provided by MOSL which is not possible all the time.

(6) Rank the most important thing in MOSL to 5 & least important to 1.

Attributes Services Brokerage Research & Advice Relationship Product mix

Weighted Avg. 46 35 30 23 16

Response 690 530 458 348 224

30

50

46 Services

45 40 35

35

Brokerage 30

30

Research &  Advice

23

25 20

16

Relationship

15 10

Productmix

5 0 Weighted Avg.

Analysis & Findings:-

To analyse this question weighted average method is being used. Total of highest rank that is 690 rank is given to service by customers. Weighted average of service is 46. which shows that all customers give emphasis on service. Customers give second highest rank to brokerage. MOSL charges comparatively low brokerage than other institutions. It charges 10 paisa on intraday and 50 paisa on delivery. The slip charge is Rs.25 and in such cases  AMC charge will be Zero. MOSL is very well known for its Research and Advice. Relationship has got more rank than Product mix.

(7) Have you ever attended seminar organized by MOSL?

Opinion Yes No

Percentage

Response

20.64

119

79.36

31

31

Percentage

21%

Yes No

79%

Analysis & findings:-

 Almost 80% customer have not attended seminar organized by MOSL. Because seminar organized in erlier times when branch was just started. Such seminar are organized for pubic awareness about MOSL & share market.

If yes then how did you feel?

Opinion Very good Good Fair  Poor 

Response 67 42 10 0

32

80 70

67

60 Very good

50

42

Good

40

Fair 

30

Poor 

20

10

10

0

0 Response

Analysis & findings:-

67customer had felt very good from total customer who have attended such seminar organized by MOSL. It shows that almost all customer would like to attend to attend seminar so MOSL should arrange such seminar in a year.

Would you like to attend such seminar organize by MOSL? Opinion Yes No

Percentage

Response

80

120

20

30

33

Percentage

20%

Yes No

80%

Analysis & findings:-

 Almost 80%that means 120 customers out of 150 total customers surveyed would like to attend such seminar if it will organized in future by MOSL In such seminar information regarding share market & other things are given which helps to attract cusomer to invest more in share market.

(8) Are you satisfied with information provided by MOSL?

Opinion Yes No

Percentage

Response

86.67

130

13.33

20

34

Percentage

13%

Yes No

87%

Analysis & findings:-

 Almost all customer that is 86.67% are satisfied with inform provided by MOSL.13.33% customer aren’t satisfied with inform provided by MOSL. In 13.33 customers almost all are new customers with high expectation from share market

(9)If

you want

to change organization, which attributes

of other 

organization would influence you most?

Attributes Services Brokerage Brand Name Relationship Product mix Others

Response 42 35 18 25 14 16

35

42

45 40

35

Services

35 30

Brokerage

25

25

Brand Name 18

20

14

15

16

10

Relationship Productmix Others

5 0 Response

Analysis & Findings:-

In this question, service has got 42 responses followed by 35 responses of brokerage and 25 responses of relationship. Product mix is less important to customers because most customers do not invest their money in different products. That means a person who is ready to take more risk will do trading and invest in IPO. Such person will rarely invest his/her capital in Mutual Funds. They are also divided on the basis of long term and short term investors. Brand awareness is given less response because of less advertisement.

(10)Please, provide your views for MOSL? Opinion Excellent Very good Good Fair  Poor 

Response 18 57 48 16 11

36

57

60

48

50

Excellent 40

Very good Good

30

Fair 

18

20

16 11

Poor 

10 0 Response

Analysis & findings:-

82% customers have ranked MOSL as a good (32%), very good (38%), and excellent (12%).They are satisfied customers.

Remaining 19% customers which included fair (11.%) & poor(8%) are new customers with more expectation. In some cases there ware dispute taken place due to misunderstanding between dealer & customer. For example in some cases customers said that they have just asked for price and dealer has sell or purchase shares. In another case they were problems of quantity or lot.

Age level :Age 20-30 30-40 40-50 >50

Response 19 63 42 26

Percentage 13 42 28 17

37

Response

13%

17%

20-30 30-40 40-50 28%

42%

>50

Analysis & findings:-

42% are come in the age group of 30-40.In 17% customer most are retired and come in >50 age group. It shows that youngsters are very passionate to invest their money in share market.

Occupation wise:-

Occupation Service Profession Business Retired Housewife

Response 51 26 39 21 13

Percentage 34 17 26 14 9

38

9% 14%

34%

Service Profession Business Retired Housewife

26% 17%

Analysis & findings:-

34% customer do jobs followed by 26% who are doing business. 9% customers are housewives which means bread winner person of the family have opened account on the name of his family members. Trading or transaction is also done by head of the family. Service people are interested to invest in share market. They are invest their money in mutual fund and less risky securities. While business people are ready to take risk and invest their capital in IPO & risky securities.

Income level:-

Income 5000-10000 10000-20000 20000-30000 >30000

Response 21 61 42 26

Percentage 14 41 28 17

39

Response

17%

14% 5000-10000 10000-20000 20000-30000

28%

41%

>30000

Analysis & findings:-

41% customers come in the income group of 10000-20000. The person falling in this age group would like to earn maximum money in minimum time. They are ready to take risk of their capital. Most of the customer falling in this income group belong to middle class and they believe that now, there is a good opportunity to earn very good return by investing in sharemarket.

40

CHAP.5.

OBSERVATION

There is a good team work in MOSL. There is a good co-operation in staff members. Total customer awareness is low Trust & relationship plays very vital role in financial market in Mehsana. In this survey many customers have

feel hesitation while giving

personal information (e.g. income level).

41

CHAP. 6. LIMITATION OF THE PROJECT

Only 150 customers are surveyed randomly out of around 800 customers. The survey is limited only to existing customers of MOSL. The survey is also limited to Mehsana city. MOSL is a franchise. Some personal information like income level may be wrong because customers are very skeptical to give such information.

42

Chap.7. RECOMMENDATION

The staff of Back office or dealers should meet their clients and try to find out their problems and solve it. Make literature in Gujarati also. Most of people face problem in English

literature.

Follow the customers on time.

  The solution of customers complain should be done on time. Organize a seminar for customer to provide information about MOSL & share market. Such seminar will help customer to aware about current scenario.

43

CHAP.8.BIBLIOGRAPHY



Marketing Research 3rd edition -- by G.C.BERI



www.motilaloswal.com





www.nseindia.com

Financial management -- by M Y Khan & Jain



Research material of MOSL

44

Chap. 9. Appendix

Questionnaire:-

Motilal Oswal Securities Limited

(1) List the name of the broking company you know? -----------------------------------------------------------------------------------------------------------------------------

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

(2) How did you get to know about Motilal Oswal Securities Ltd.? Advertisement [ ] Word of mouth [ ]

Hoardings [ ] Existing customers [ Any Other (Specify) ……………..

]

(3) What is your objective to open account in Motilal Oswal Securities Ltd.? Trading [ ] F&O [ ] Commodity [ ]

IPO SMS

[ [

] ]

Delivery [ PMS [

] ]

(4) Do you have Demate account in any other institute? Yes [ ] No [ ] If yes, then please write the name of the DP ………………….. ………………….. (5) What do you think about SMS tips provided by MOSL? Excellent [

]

Very good [

]

Good [

]

Fair [

] Poor [

]

45

(6) Rank the most important thing in MOSL to 5 & least important to 1. Service [ Relationship [

] ]

Brokerage [ Product mix [

] ]

Research & Advice [

]

(7) Have you ever attended seminar organized by MOSL? Yes [ ] No [ ] If yes then how did you feel? Very good [ ] good [ ] Fair [ ] poor [ Would you like to attend such seminar organize by MOSL? Yes [ ] No [ ]

]

(8) Are you satisfied with information provided by MOSL? Yes [

]

No [

]

(9) If you want to change organization, which attributes of other organization Would influence you most? Service [ ] Relationship [ ]

Brokerage [ ] Product mix[ ]

Brand name [ ] Other [ ]

(10) Please, provide your views for MOSL? Excellent [

]

Very good [

]

Good [

]

Fair [

] Poor [

]

 Name:Contact no.:Age:Occupation: Service [ ] Profession [ ] Business [ ] Retired [ ] Housewife [ ] Income: - (monthly) 5000-10000 [ ] 10000-20000 [ ] 20000-30000 [ ] more than 30000 [ ]

46