Summer Training Project

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SUMMER TRAINING REPORT

On

Risk Management through Derivatives

At

Prabhudas Lilladher Pvt. Ltd.

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Submitted in partial fulfillment of the requirements of the two year

Post Graduate Programme (PGP).

Submitted by

Manisha Gupta

……………………………………………………………………………….

Roll No: PG20095670

Batch: 2009-2011

IILM Institute for Higher Education

DECLARATION FORM

I hereby declare that the Project work entitled, RISK MANAGEMENT THROUGH DERIVATIVES submitted by me for the partial fulfilment of the Post Graduate Program (PGP) to IILM Institute for Higher Education, is my own original work and has not been submitted earlier either to IILM or to any other Institution for the fulfilment of the requirement for any course of study. I also declare that no chapter of this manuscript in whole or in part is lifted and incorporated in this report from any earlier / other work done by me or others.

Place : Delhi

Date:

Signature of Student –

Name of Student: Manisha Gupta

Address: _____________________________

_____________________________

Acknowledgement

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I would like to thank my Mentor Mr. Shiv mishra and my Project Guide Mr. Sandeep Sharma and Mr. Satyendra Singh who have been the greatest support in completing this project. Without their constant feedback, this project would not have been a reality.

This project would not have seen the light of the day without the support of our faculty mentor Mrs. Rakhi Singh. She has been of great help in guiding us through the various stages of our project.

Constructive criticism and feedback would be highly appreciated.

Manisha Gupta
PG20095670
IILM Gurgaon

Executive Summary/Preface

A stock broker or stockbroker is a regulated professional broker who buys and sells shares and other securities through market makers or Agency Only Firms on behalf of investors. A transaction on a stock exchange must be made between two members of the exchange — an ordinary person may not walk into the Stock Exchange and ask to trade stock. Such an exchange must be done through a broker. Though the Indian brokerage industry has been consolidating steadily over the last 10 years, the share of the top 10 brokers has risen to only around one-fourth of the total industry revenues. In this fragmented market, leading players like Religare Securities, ICICI Direct, Kotak Securities, Indiabulls and Sharekhan, apart from many small players, compete on the basis of low brokerage fees and customer service.

MajorGainz (Online trading division of Prabhudas Lilladher) is one of those small players which do not have its public share offering in Indian Capital market till now. Despite being an out and out private ownership company, Prabhudas Lilladher broking arm has many loyal and satisfied customers in Western India including states such as Gujarat and Maharashtra. In order to expend its business and awareness about this one of the oldest broker houses of country ,Company recently came to North India, opening branch offices in New Delhi and Noida. As per other competitors in north Indian market, Prabhudas Lilladher Pvt. Ltd has aim to position itself as a niche marketer in Electronic or Online Trading.

Among some achievements of the company, it was the first Broking Company to computerize in 1982 and first brokerage firm to corporatize in 1989. It was rated as 8th best Indian broking house and 3rd in generating small cap ideas by Asia Money in 2007. This topic deals with study of risk management approach on the basis of few selected technology picks. The topic is vast since it includes the various modern technologies used now a days by different kinds of brokerage firms so instead of studying the whole lot I have selected the few techniques picks.

Table of Contents

Topic……………..……………………..……………………………………………………………Page No.

Acknowledgement……………………………………………………………………….......3 Executive...
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