Mba sip report

A Project Report On
“MODERN EQUITY ANALYSIS”
Submitted in partial fulfilment of award of the degree of
MASTER OF BUSINESS ADMINISTRATION
Submitted by –
KIRTI SHUBHAM - 1318015
(DMBA 2013-2018)
FACULTY GUIDE CORPORATE GUIDE
Prof. JITENTRA MOHANTY Mrs. SAUMYA KALA
Co-Founder – Cypress Money
Sub-Franchisee Owner MOSL

II
Kirti Shubham, KIIT School of Management
ACKNOWLEDGMENT
I have taken efforts in this project. However, it would not have been possible
without the kind support and help of many. I would like to extend my sincere
thanks to all of them.
I would like to express my gratitude towards my parents for their kind co-
operations and encouragement which helped me in the completion of this
project.
I express my deep sense of gratitude to my Project Guide Mrs. Saumya Kala
(Co-Founder) along with Mr. Anubhav Kandpal (Founder) for their expert
guidance and support, constant supervision, stimulating discussions as well
continuous impetus throughout the period of this project.
I would also like to thanks Mr. Sujeet Vishwakarma and Mr. Amol Sathe for
their kind and аppreciаble guidance and support, without which my project
would not have been in this present form. They constantly provided several
opportunities to learn more and helped me throughout the process.
My thanks and аpreciаtions also go to my colleagues in developing the project
and people who have willing helped me out in many ways in the making of this
project. I would also like to express my special gratitude to my friends also, as
they provide me information well as pictures they provided. Special thanks to
my friend Mr Kamlesh Dhruve for giving me Banking knowledge.

III
DECLARATION
I hereby declare that the Summer Internship Project entitled “Modern Equity
Analysis” submitted by me as a partial fulfilment for the award of Masters of
Business Administration to KIIT School of Management, Bhubaneswar is
original and genuine work carried out by me during my Summer Internship
Program at Cypress Money, Mumbai & Motilal Oswal Securities Ltd,
Channel Partners.
Kirti Shubham
Date:
Enrolment No: 1318015
DUAL - MBA 2013-2018
KIIT University
Bhubaneswar, Odisha

IV
CERTIFICАTE
On the basis of declaration submitted by Mr. KIRTI SHUBHAM,
student of Masters of Business Administrations, Roll Number
1318015, from KIIT School of Management. I hereby certify that the
project report on MODERN EQUITY ANALYSIS is submitted to
Cypress Money, Mumbai in partial fulfilment of the requirement for
the award of the degree of Masters of Business Administrations, as
a contribution with existing knowledge and faithful record of work
carried out by him under my guidance and supervision.
Mr. Anubhav Kandpal
Founder
Cypress Money
Date:

V
CERTIFICАTE
On the basis of declaration submitted by Mr. KIRTI SHUBHAM,
student of Masters of Business Administrations, Roll Number
1318015, from KIIT School of Management. I hereby certify that the
project report on MODERN EQUITY ANALYSIS is submitted to
Motilal Oswal Securities Limited (Channel Partner), Mumbai in
partial fulfilment of the requirement for the award of the degree of
Masters of Business Administrations, as a contribution with
existing knowledge and faithful record of work carried out by him
under my guidance and supervision.
Mr. Sushil Chandra Kala
Franchisee Owner
Motilal Oswal Securities Ltd. (SSHL1200)
Date:

VI
CONTENTS
S No. Table of Contents Page
1 Acknowledgment : II
2 Declaration : III
3 Certificate : Cypress Money : IV
4 Certificate : MOSL Franchisee Partners : V
5 Contents : VI
6 Executive Summary : 1
7 Chapter 1: Cypress Money – Investment Advisory : 2
1.1 Company Profile : 2
1.2 Marketing Plan of Cypress Money : 3
1.3 Stock Portfolio & Analysis Of Cypress Money : 7
8 Chapter 2: Motilal Oswal Securities Limited – Channel Partner : 11
2.1 Company Profile : 11
2.2 Board Of Directors : 12
2.3 Marketing Plan Of Mosl Franchisee : 14
9 Chapter 3: Modern Equity Analysis : 19
3.1 Objective : 19
3.2 Scope of project : 19
3.3 Methodology : 20
10 Modern Equity Analysis Report : Maruti Suzuki India Ltd. : 22
11 References : 26
12 Appendices : 27

VII
I Cypress Money Follow Up List : 27
II Demat accounts activated : 28
III Posters designed for sales : 29

1
EXECUTIVE SUMMARY
As an Intern I joined Cypress Money on 8th
May, 2017. Cypress Money was a stock advisory firm, which used
technical analysis as major and fundamental analysis to give calls to the client. The focused clients were all the
person who are having or on the verge of having valid demat / trading account. The processes of acquiring client
were providing the clients premium free trial of the calls for 5 days and then convert them to become paid
clients. The stock calls given were highly profitable.
By the virtue of my work within one month I produced eighty six free trial clients after calling nine hundred
fifty nine phone numbers. These numbers were provided to us from the firm itself. I had converted twelve
clients among those who agreed to become paid client.
On 1st
June, 2017 the Cypress Money was called off due to some SEBI registration issues, and the office was
overtaken by Motilal Oswal Securities Limited, Channel Partner and the franchisee holder was Mr. Sushil Kala.
One of the Franchisee co-holders was Mrs. Soumya Kala (Co-Founder, Cypress Money), so we were re-located
to Motilal Oswal Securities Limited (Channel Partner).
The base work assigned to us as an intern was to cold call the number from data base and our own references;
also to generate the list of the clients who will open demat accounts and avail the services. By vitue of my work
I had brought five clients and then acquired access to several corporative functions.
As a most active intern I was sent specially to attend seminar on the topic “BASICS OF DERIVATIVE
MARKET” which was organised by KIFS Trade Capital at Lotus Corporate Park. Where I had learnt and
understood the basics of trading with forward contract, future contract and option contracts.
I was also granted special permission by Mrs. Saumya Kala to attend personal meeting to the clients with Mr.
Amol Sathe, Business Developer Officer. I have successfully met four persons and have convinced them to open
demat account through the franchisee.
Among all the interns, I had full access to UPPER MOST (SAKSHAM) – KYC Terminal for Motilal Oswal
Securities Limited, Channel Partner (SSHL1200). I have punched-in thirty eight client‟s KYC for and activated
their accounts.
During my last week on 3st
July, I was authorised to make marketing decision for MOSL (Channel Partner). I
had received special training along with co-owner Mr. Anubhav Kandpal and business developer officers on
“Stock Market Trading – for Brokers” at Back Office, Motilal Oswal Securities Limited, Malad.
By my consistency in analysis I have successfully designed “Quick Flow Management System of KYC Forms”
which ensures faster and quicker flow of the KYC form through the franchisee.

2
Chapter 1: Cypress Money – Investment Advisory
COMPANY PROFILE
M/s Cypress Money – Investment Advisers started operating from 15th January‟2015 with
initial back office jobs of collecting data of prospective customers & the operation started
with effect from 15th March‟2015, where in the services were offered to the prospective
customers, from the list of names & phone number provided by data vendors.
Founded by Mr. Anubhav Kandpal, who happens to be the Managing Partner, this firm is
promoted & financed by Mr. Siddhartha Kala. It also has Ms. Saumya Kala, as a Co Founder
and Managing Partner.
After a very small stint of one month at office No: S-165, Haware Fantassia Park, Vashi,
Navi Mumbai – 400703 it has recently moved to a bigger office and is currently operating out
of office No: 420, Wing „B‟, New Sonal Link Estate, Malad (W), Mumbai -64.
Initially started with just four employees (including the founder & HR), it has now sixteen
employees.
The technical analysis for predicting & speculating the movement of the various stocks are
being done by Mr. Anubhav Kandpal, himself, who completed Chartered Market Technician
(New York, USA) and MBA in Financial markets from Bombay Stock Exchange (BSE)
Institute Ltd.
The distribution of calling list to the employees & monitoring of the client follow ups are
being done by Ms. Saumya Kala. The fund management & client payments are being
managed by both of them, with able support from the rest.
Overall, this firm was primarily a sole proprietor ship company and followed the
organizational design of a “Simple Structure”.
The firm went out-of-commission on June 1, 2017 and merged with Motilal Oswal Securities
Limited.

3
MARKETING PLAN OF CYPRESS MONEY
1. BUSINESS MISSION STATEMENT:
“To provide superior advisory services to prospective investors in the stock market in India”
The Target market is any people having or in the process of having a valid Demat A/c. The
sole license for trading or investment through stock markets in India (i.e. BSE & NSE). The
list of such people are available from data vendors.
2. SWOT ANALYSIS:
S (Strength) – 1. Chartered CMT for technical analysis.
2. Advises on fundamentally strong sectored strong companies.
W (Weakness) – 1. No advises on intra-day trading provided
2. No advises on commodity market & option sectors.
O (Opportunity) – 1. Large section of interested and novice population (only 2%
of the populations are currently into trading).
2. Introduction of Goods and Services Taxation.
T (Threat) – 1. Large number of mushroomed fraud advisory firms.
2. Generating revenue for survival, in such hostile industry.
3. MISSION OBJECTIVE:
“To provide highly profitable stocks with premium services”.

4
4. MARKETING MIX: The 7 Ps of service marketing are as follows:
a) Product (the Services):
M/s Cypress Money Investment Advisers, provides advisory to prospective
investors & existing investors on their venture for either trading or long term
investments, through the stock markets, i.e Bombay Stock Exchange (BSE) or
National Stock Exchange (NSE). Simply these are the advises for which
stocks to buy, which not to buy, at what price to buy, at what price to sell, etc.
The industry is prospective as there are countless number of individuals who
looks on this sector as a lucrative mode of multiplying liquid asset (i.e.
money), but fears due to the volatility of the market indices and moves away
to the traditional methods of Fixed deposits, National Saving Certificates,
PPFs etc. To start with the initialization phase, Cypress Money has started the
business by providing services in only Equity (Cash) & Future (Derivatives)
sectors. There are other sectors also like Options & Commodities, in which
they are not dealing at present. So, it is primarily into information processing
service & initially the service is standardized. They may develop a customized
service, if they break-even & reach the objectives in the financial year 2017-
2018.
Following is a tabular form of the service schemes & their offer prices, with details of calls
(advises provided), holding period, target returns etc.
Products Stock Rich Future Plus Trend Rider HNI Pack
Segments Cash Future Cash Cash + Future
Target Return
(Per Call)
5 - 8 % 2 - 5 % 15 - 20 % Research Report
No. of Calls
8 – 10
calls/month
8 – 10
calls/month
5 – 6
calls/quarter
Advice on
Personal
Portfolio
Holding period 1 - 10 Days 1 - 5 Days 1 - 3 months Expert Talk

5
 Stock Rich is the scheme for advises on very short term trading purpose, dealing in 1
to 10 days period in the cash/equity sector.
 A Trend Rider on the other hand is meant for investment purpose. Those people who
like to invest for long term period are offered this scheme. It is also in the cash/equity
sector.
 Future plus deals in the derivative market & the HNI pack is a combo pack of either
of the two Cash Sector Services & the Future Services.
b) Place:
The unique feature of the firm, is to provide in-situ service to the clients,
wherever they are in India, live, within a fraction of a second via sms. The
clients only need to register their cell numbers. Further the firm is introducing
their personalized apps, so that the Android & Windows phone user can even
get notification by pop ups or app notification.
c) Price:
The firm used a bit of psychological pricing. Following is the tabular form of
the service schemes & their prices for various periods.
Time/Products
Stock Rich
(₹)
Future Plus
(₹)
Trend Rider
(₹)
HNI Pack
(₹)
3 Months 19900 19900 19900 49900
6 Months 29900 29900 29900 74900
12 Months 39900 39900 39900 99900
Further, the firm was running a rebate offer of up to 25% on the quoted price
& is expected to run the same for the next couple of months also, as the
introductory offer. It even approaches different customers with flexible pricing
options. The firm has therefore, designed the pricing so as to have a
satisfactory profit for the initial period, thereby creating demand &
maximizing sales.

6
d) Promotion:
The firm is looking to stabilize itself in the competitive market of stock market
advisory. Since, the industry it relates to is almost pretty well volatile, so
marketing & reaching out to common masses (which include both prospective
investors and investors), who can be prospective customers, is really
challenging. The larger part of this project deals, how the psyche of people is
affected & further convinced or not convinced to subscribe to such services.
i. FREE TRIALS: The initial introduction of the services to the
clients is being done, by offering them a fully free advisory
service for five trading sessions (or days). The dealings are all
done over phone. This however does not include any market
holidays/Saturdays/Sundays within it. This offer also comes
with a genuine guarantee of minimum 2-3% profit per advises.
Further the clients are assured, that if due to the volatility the
market goes bullish & they face loss, during this period, their
free trial period will be extended for three to four trading days
more.
ii. FOLLOW UPS: The people who avail this service are also
called over phone again to keep reminding them & to ensure
that they are receiving the advises, at least twice during the
period.
iii. REBATES: After the completion of the free trial period, the
subscribers are offered with a negotiable discounted offer upto
flat 25% then what quoted in the website.
iv. E.M.I: If any client subscribes for more at least a half yearly
service then he/she is offered with an option of E.M.I
v. WEBSITE: The firm maintained a well-developed & vivid
website.
vi. SMS ALERTS: Mass SMS were being sent to prospective
client lists, about the company details & offer schemes.

7
e) Process:
M/s Cypress Money, for the time being processes its service through simple
text message over cell phone. However, on some very special request, they
also provide the advisory calls by calling up the clients or sending them email.
The firm is going to introduce their personalized mobile app & dedicated
agents to process & sale of scheme very shortly, besides the existing system of
telephonic calling & text message alerts.
f) People:
The main USP of the firm, is its founder & chief analyst Mr. Anubhav
Kandpal, who happens to be MBA [Financial Markets, BSE] & CMT [MT,
USA]. He is ably helped out in the stock analysis & proper channeling of the
calls to the clients by Ms. Saumya Kala also an MBA [Financial Markets,
BSE]. Lastly the dedicated team of callers, ever disciplined and patient to
clients & their tantrums.
g) Physical Evidence:
The customers are instantly provided with an invoice, when they subscribe to
paid schemes over mail/text message. Further, the advisory calls (both free &
paid) comes with a clear title mentioning “C-Money”, i.e. Cypress Money and
all the text messages have the name of the website & contact number
mentioned clearly.

8
STOCK PORTFOLIO & ANALYSIS OF CYPRESS MONEY
CASH SEGMENT
SCRIP TIME ENTRY PRICE TIME EXIT PRICE P/L (%)
P/L
(₹.)
DAYS
Apar
Industries
Ltd. (532259)
1.01
PM
16-May 819
2.48
PM
16-May 846.00 3.30% 3297 1
Bodal
Chemicals
ltd. (524370)
2.40
PM
16-May 164
9.28
AM
17-May 170 3.66% 3659 2
Neuland
Laboratories
Ltd. (524558)
3.01
PM
17-May 1398 3.22
PM
18-May 1460 4.43% 4435 2
Bombay
Burmah
Trading
Corporation
Ltd. (501425)
12.07
PM
25-May 925 9.47
AM
29-May 900.00 -2.70% -2703 3
Motilal
Oswal
Financial
Services Ltd.
(532892)
3.20
PM
25-May 986 9.50
AM
26-May 1034 4.87% 4868 2
Jamna Auto
Industries
Ltd. (520051)
3.29
PM
26-May 239 10.01
AM
30-May 239 0.00% - 3
Can Fin
Homes Ltd.
(511196)
2.51
PM
30-May 2710 - - - - - -
TOTAL
PROFIT 13556
Apar Industries Ltd. (532259)
BUY@ 819
TARGET 868
STOP 794
HOLD 1-10 DAYS
BOOK PROFIT@ 846
BUY Given at 819
On 16-May-17
Return 3.3% in SAME DAY
Bodal Chemicals ltd. (524370)
BUY@ 164
TARGET 174
STOP 159
HOLD 1-10 DAYS
BOOK PROFIT@ 170
BUY Given at 164
On 16-May-17
Return 3.66% in 2 Days

9
Neuland Laboratories Ltd. (524558)
BUY@ 1398
TARGET 1484
STOP 1358
HOLD 1-10 DAYS
BOOK PROFIT@ 1460
BUY Given at 1398
On 17-May-17
Bombay Burmah Trading Corporation Ltd. (501425)
BUY@ 925
TARGET 980
STOP 897
HOLD 1-10 DAYS
STOP LOSS TRIGGERED
EXIT @900
Motilal Oswal Securities Ltd. (532892)
BUY@ 986
TARGET 1045
STOP 956
HOLD 1-10 DAYS
BOOK PROFIT@ 1034
BUY Given at 986
On 17-May-17
Jamna Auto Industries Ltd. (520051)
BUY@ 239
TARGET 254
STOP 232
HOLD 1-10 DAYS
BOOK BREAKEVEN
Can Fin Homes Ltd. (511196)
BUY@ 2710
TARGET 2872
STOP 2628
HOLD 1-10 DAYS
BOOK PROFIT @2872
BUY Given at 2710
On 30-May-17

10
FUTURE SEGMENT
Scrip Action TIME ENTRY PRICE TIME EXIT PRICE
P/L
(%)
P/L
(₹)
LOT
DAY
S
BANKINDIA
25-MAY-17
LONG
1.53
PM
16-May 187
2.00
PM
16-
May
188.3
0.70
%
7,800 6000 1
BEML 25-
MAY-17
LONG
9.45
AM
17-May 1392
9.48
AM
17-
May
1402
0.72
%
6,000 600 1
INDIACEM
25-MAY-17
SHORT 3.17
PM
18-May 206 12.11
PM
19-
May
203.3 1.31% 9,450 3500 2
BPCL 29-
JUN-17
LONG 3.11
PM
24-May 710 9.34
AM
25-
May
715 0.70% 6,000 1200 2
BANKNIFT
Y 29-JUN-17
LONG 3.21
PM
24-May 22490 9.52
AM
25-
May
22642 0.68% 6,080 40 2
ADANIPOR
TS 29-JUN-
17
LONG 3.29
PM
24-May 341 9.18
AM
25-
May
344 0.88% 7,500 2500 2
TECHM 29-
JUN-17
LONG 11.47
AM
25-May 426 12.39
PM
26-
May
434 1.88% 8,800 1100 2
INDUSINDB
K 29-JUN-17
LONG 1.48
PM
25-May 1444 2.47
PM
25-
May
1458 0.97% 8,400 600 1
ACC 29-
JUN-17
LONG 2.42
PM
26-May 1635 9.31
AM
29-
May
1658 1.41% 9,200 400 2
DRREDDY
29-JUN-17
SHORT 10.01
AM
29-May 2405 12.04
PM
29-
May
2430 -
1.04%
-5,000 200 1
RELIANCE
29-JUN-17
LONG 10.34
AM
29-May 1347 2.03
PM
29-
May
1359 0.89% 6,000 500 1
BANKNIFT
Y 29-JUN-17
LONG 9.50
AM
30-May 23230 11.01
AM
30-
May
23180 -
0.22%
-6,000 120 1
TATACHE
MICAL 29-
JUN-17
LONG 13:17
AM
30-May 624 1.42
PM
30-
May
628.3 0.69% 6,450 1500 1
TITAN 29-
JUN-17
LONG 10.45
AM
29-May 485 11.15
AM
29-
May
492 1.44% 10,500 1500 1
BANKINDIA 25-MAY-17
BUY @ 187
TARGET 190
STOP 185
HOLD 1-5 DAYS
BOOK PROFIT@ 188.5
BUY Given at 187
On 16-May-17
PROFIT Rs. 9000 per LOT
in SAME DAY
BEML 25-MAY-17
BUY @ 1392
TARGET 1419
STOP 1478
HOLD 1-5 DAYS
BOOK PROFIT@ 1402
BUY Given at 1392
On 17-May-17
PROFIT Rs. 6000 per
LOT in SAME Day

11
INDIACEM 25-MAY-17
SHORT @ 206
TARGET 201
STOP 208
HOLD 1-5 DAYS
BOOK PROFIT@ 203.3
BUY Given at 206
On 16-May-17
in 2 DAYS
BPCL 29-JUNE-17
BUY @ 710
TARGET 726.67
STOP 705.83
HOLD 1-5 DAYS
EXIT @ BREAKEVEN
BUY Given at 710
ADANIPORTS 29-JUN-17
BUY @ 341
TARGET 349
STOP 339
HOLD 1-5 DAYS
BOOK PROFIT@ 344
BUY Given at 341
On 24-May-17
in 2 Days
TITAN 29-JUN-17
BUY @ 485
TARGET 498
STOP 481
HOLD 1-5 DAYS
BOOK PROFIT@ 495
BUY Given at 485
On 29-May-17
in SAME Day

12
Chapter 2: MOTILAL OSWAL SECURITIES LIMITED –
CHANNEL PARTNER
COMPANY PROFILE
Motilal Oswal Securities Limited or MOSL was founded 1987 by Motilal Oswal and
Raamdeo Agrawal after they acquired membership on The BSE. Motilal Oswal was elected
director and joined the Governing Board of the Bombay Stock Exchange in 1998.
Motilal Oswal Securities is a Depository Participant of NSDL and a Depository Participant of
Central Depository Services Limited (CDSIL) in 2000. The company started offering
Derivatives products and advisory services on both BSE as well as NSE in 2001.
In 2006 the company entered Private Equity and Investment Banking business. In the same
year, Motilal Oswal group acquired South Indian brokerage firm – Peninsular Capital
Markets. The company tied up with State Bank of India and Punjab National Bank in 2006
and 2007 to offer online trading to its customers. 2008 saw the company create one of India's
largest Equity Dealing & Advisory rooms, spread over 26,000 sq ft (2,400 m2
) in Malad,
Mumbai.
Motilal Oswal Securities Limited (Channel Partners) started operating from 5th June, 2017
with franchisee head office located at Dehradun and Marketing – Sales office located in
Mumbai. The franchisee is owned by Mr. Sushil Chandra Kala and sub-owners are Mr.
Siddhartha Kala and Mrs. Saumya Kala.
The channel partner is directly linked up with Motilal Oswal Securities Limited, back office
located in Malad West, Mumbai. The services offered are opening of new demat accounts
with complete process from the application phase to activation phase. The franchisee is
guided by Mr. Harvansh Kumar, Sr. Executive/Training-Business Associates from MOSL,
New Delhi. This franchisee offers wide range of benefits and offers.
The sole purpose is not just to generate revenue but to do educational promotion through
which new investors and traders can emerge into stock market. Motilal Oswal Financial
Services Limited is a financial services company focuses on wealth creation for its customers,
such as institutional, corporate, high net worth individual (HNI) and retail. The Company's
segments include Broking & Other related activities; Fund based activities; Asset
Management & Advisory, Investment Banking and Housing Finance. The Broking & Other
related activities segment consists of broking and wealth management. The Fund based
activities segment includes strategic allocation of capital to long return on equity (ROE)
enhancing opportunities, such as sponsor commitments to mutual funds and private equity
funds of the Company and non-bank financial company (NBFC) loan book. Its offerings
include traditional capital markets businesses (retail and institutional broking, and investment
banking) and asset management. The Company's products include Equities, Derivatives,
Commodities, Currencies, Insurance, Fixed Income and Portfolio Management Services.

13
BOARD OF DIRECTORS
Trustee Directors
AMC Directors
Mr. Motilal Oswal (Chairman)
Mr. Oswal is an Associate Director and is the Chairman of the Board of Motilal Oswal
Trustee Company Limited. He is also the Managing Director of Motilal Oswal Financial
Services Ltd. He has varied experience of over 2 decades in the financial service sector.
Mr. Sunil Goyal (Director)
Mr.Goyal is an Independent Director on the Board of Motilal Oswal Trustee Company
Limited. He is the Managing Director of Ladderup Finance Limited and Ladderup
Corporate Advisory Private Limited.
Mr. Brij Gopal Daga (Director)
Mr. Daga is an Independent Director on the Board of Motilal Oswal Trustee Company
Limited. Mr. Daga has rich and varied experience of more than 4 decades.
Mr. Raamdeo Agrawal (Chairman)
Raamdeo Agrawal is the Joint Managing Director of Motilal Oswal Financial Services
Limited (MOFSL) and the driving force behind the company‟s approach to investing. As
chairman of AMC, Mr. Agrawal has created the “QGLP” (Quality Growth Longevity &
favorable Price) Investment Process and its „Buy Right, Sit Tight‟ investing philosophy.
He has also authored the book “The Art of Wealth Creation” which compiles insights
from 20 “Wealth Creation Studies” authored by him.
Mr. Aashish P Somaiyaa (Managing Director and CEO)
Mr. Somaiyaa brings with him rich and varied experience - with more than 17 years in
sales and distribution, channel management, product development and institutional sales
from ICICI Prudential AMC and a brief stint at project management with Bharti AXA
Investment Managers.

14
Franchisee Partners (SSHL1200)
Mr. Sushil Chandra Kala
(Franchisee Owner)
Mr. Siddhartha Kala
(Franchisee Co-Owner)
Mrs. Saumya Kala
(Franchisee Co-Owner)

15
MARKETING PLAN OF MOSL FRANCHISEE
1. BUSINESS OBJECTIVE:
“Spread educational awareness regarding stock market and introduction
of market in youth.”
2. SWOT ANALYSIS:
S (Strength) – 1. Franchisee owned by merging with Cypress Money
2. Educational promotion is main objective
W (Weakness) – 1. Sub-owners have no prior experience with demat accounts.
2. The charges are highly volatile.
O (Opportunity) – 1. Huge data base of pre-clients in stock market.
2. Accounts opening process are quick due to Back Office
availability at walking distance.
T (Threat) – 1. Several firms charging ZERO* brokerage charges.
2. Pre-running other franchisees.
3. MARKETING MIX: The 7 Ps of service marketing are as follows:
a) Product (the Services):
Wide ranges of services provided by the franchisee are as follows:
-Portfolio Management Services (PMS)
-Research Based Advices
-Offline & Online broking services
-Initial Public Offerings (IPO)
-Mutual Funds
-Commodity
-Motilal Oswal DP Services

16
b) Place:
The head office of the franchisee is located in Dehradun which covers major
area of Northern India while, the sales and marketing office is located at the
distance of 500 meters from the back office of MOSL in Malad, Mumbai. The
location creates high attraction of clients as these places are highly marketing
zones.
c) Price:
The prices are very flexible and volatile with respect to client‟s purpose and
affordability. Followings are tabular form of the schemes and pricing offering
for new Demat & Trading accounts.
Brokerage Margin
SCHEME 1
Equity
Intraday
3 paisa
(one side)
20 Times
OFFER
PRICE ₹1500
Delivery
30 paisa
(one side)
2 Times
Futures /
Commodity /
Currency
Intraday 3 paisa
2 Times
Delivery 3 paisa
Options
Intraday
₹40 per lot One side
Delivery
AMC
Offer 1
Free 1st year, ₹300 per years
onward
Offer 2 ₹800 per years onward
SCHEME 2
Equity
Intraday
5 paisa
(one side)
20 Times
OFFER
PRICE FREE
Delivery
50 paisa
(one side)
2 Times
Futures /
Commodity /
Currency
Intraday 5 paisa 2 Times
Delivery 5 paisa
Options
Intraday
₹60 per lot One side
Delivery
AMC
Offer 1
Free 1st year, ₹300 per years
onward
Offer 2 ₹800 per years onward

17
d) Promotion:
The franchisee is still stabilizing itself in the competitive market of broking
market. Since, the industry it relates to is almost pretty well volatile, so
marketing & reaching out to common masses (which include both prospective
investors and investors), who can be prospective customers, is really
challenging. The larger part of this project is concerned with educating the
people with the stock market.
i. COLD CALLING: The sales and marketing team along with
head office uses the data base from data vendors and generate
hot leads.
ii. FOLLOW UPS: The clients who are interested in opening new
demat and trading accounts are re-confirmed before sending the
forms.
iii. REBATES: The price of demat accounts are flexible and
depends from client to client moreover the brokerage charges
can be lowered by the portfolio size of the client.
iv. FLYERS: Flyers designed by me were used to shoot in the
public displaying all the packages via emails, whatsapp and
other social media.
v. PERNSONAL MEETING: Meetings are being arranged by the
business developers and customer executives personally attend
meetings and convince as well as educate the clients to invest
in stock market.
e) Process:
The franchisee gives call to existing investors and merging investors and gives
details over phone which might lead to fixing meetings. During meeting
customer executives convince and educate the clients with the benefits to open
account through them.
f) People:
The owner, Mr. Sushil Kala has been in stock market since long time. There
are number of clients can be generated by the references. The co-owner Ms.
Saumya Kala is an MBA [Financial Markets, BSE] and also been co-founder
of Cypress Money too. Lastly the dedicated team of executives.

18
g) Physical Evidence:
Franchisee office is located at 420, Wing – B, New Industrial Sonal Link,
Malad West, Mumbai. The client code as registered starts with SSHL1200.
The KYC forms are couriered or hand delivered to the clients all over India.
The franchisee is also BSE & NSE registered along with MOSL registration.

19
Chapter 3: Project “MODERN EQUITY ANALYSIS”
OBJECTIVE
1. To understand the methodology of Modern Equity Analysis.
2. Understand Fundamental and Technical analysis.
3. Prepare Equity Analysis report of Maruti Suzuki Ltd.
4. Spread educational awareness and introduce stock market to the youth.
SCOPE OF PROJECT
Modern Equity Analysis is the process of analysing and reporting which includes a
company‟s financials, perform ratio analysis, forecast the financials (financial modelling) and
explore scenarios with an objective of giving recommendation to make decision purchase or
sale of stock. Researches and analysis is discussed in equity research reports by the analyst.
 Sell-side analysts work for brokers who sell shares to the investors (mainly fund
management firms and private clients).
 Buy-side analysts work for fund management firms.
Fundamental analysis and technical analysis is used to understand the market trend of
particular stock and give future prediction. The analysis is used by the investors to buy/sell a
stock and generate profit.
According to research of Mr. Raamdeo Agarwal, Chairman the market growth will boost
from 4% to 5% which will create high profitable opportunity for the investors. For the growth
of market more and more people should be educated with basics of stock market and they
should also be encouraged to invest. The increment of investment rate will increase the
economic strength of the nation.

20
METHODOLOGY
The following are some fundamental features and information that should be considered
essential in research report –
BASIC INFORMATION
The basic information of the firm should be included in the beginning of the report, which
should include the company‟s ticker symbol, vision and mission; along with the primary
exchange upon which its shares are traded, the primary sector and industry in which it
operates the investment recommendation; with the current stock price, market capitalization,
and the target stock price.
Furthermore, the liquidity and float of a security are also considered important for the equity
analysis. The degree to which a stock can be purchased and sold without impacting the price
is called liquidity of stock. The number of shares that are publicly-owned and available for
trading, and generally excludes restricted shares and the holdings of insiders is called stock‟s
float.
INVESTMENT SUMMARY
A brief description of the company, earnings forecasts, significant recent developments, the
recommended investment action and a valuation summary and should be included in this
section. A clear and concise explanation as to why the security is deemed to be mispriced is
required if purchase or sale of a security is being advised.
BUSINESS DESCRIPTION
A detailed description of the company and its products and services should be included in this
section. A clear understanding of the company‟s economics, including a discussion of the key
drivers of revenues and expenses should be displayed clearly.
MANAGEMENT & GOVERNANCE
A critique of the firm‟s management and board is enlisted in this section including senior
management‟s history with firm and their record of capital allocation are considered
important, as are their compensation and incentive plans, and levels of stock ownership.
INDUSTRY OVERVIEW AND COMPETITIVE POSITIONING
An overview of the industry dynamics, including a competitive analysis of the industry is
included in this. The competitive environment is discussed in most firms‟ annual report and a
group of peer companies should be developed for purposes of a competitive analysis.
Strength of brand, cost leadership, and access to technology or resources that are protected
are the criteria‟s on which company differentiate themselves from others

21
VALUATION
A thorough valuation analysis of the company using conventional valuation metrics and
formulas are included. Absolute valuation models derive an asset‟s intrinsic value, and take
the form of discounted cash flow models. Equity valuation models can derive either absolute
or relative values. Relative equity valuation models estimate a stock‟s value relative to
another stock, and can be based on a number of different metrics, including price/sales,
price/cash flow, price/earnings, and price/book value. Because model outputs can vary, as a
check, more than one valuation model should be used.
FINANCIAL ANALYSIS
A detailed analysis of the company‟s historical financial performance and a forecast of future
performance are included. Financial results are commonly manipulated to portray firms in the
most favourable conditions. Understanding the underlying financial reality is the base
responsibility of an analyst The use of off-balance sheet financing, non-recurring events,
income and reserve recognition, and depreciation policies are all examples of items that can
distort a firm‟s financial results.
Financial modelling of future financial results helps to measure the effects of the changes in
certain inputs on the various financial statements. Analysts should be especially careful,
however, about extrapolating past trends into the future. This is especially important in the
case of cyclical firms. Finally, it can be informative to employ industry-specific financial
ratios as part of the financial analysis. Examples include proven reserves/share for oil
companies, revenue/subscriber for cable or wireless companies, and revenue/available room
for the hotel industry.
INVESTMENT RISKS
Potentially negativity of the industry and company developments that could pose a risk to the
investment thesis is addressed in this section. Risks can be of operational or financial in
nature, or can be related to regulatory issues or legal proceedings. While companies are
generally obligated to discuss risks in their regulatory disclosures, risks are often subjective
and hard to quantify (e.g. the threat of a competing technology). It is the job of the analyst to
make these determinations. Of course, disclosures of “qualified opinions” from auditors and
“material weakness in internal control over financial reporting” should be automatic red flags
for analysts.

22
Prev.Close (₹):7543.00 Open (₹):7554.00
Day’s High (₹):7569.00 Day’s Low (₹):7495.00
As on 09/07/17
MODERN EQUITY REPORT
Maruti Suzuki India Ltd.
Date: 9/July/2017
BSE Code: 532500 NSE Code: MARUTI
Reuters Code: MRTI.NS Bloomberg Code: MSIL:IN
Company Description
Maruti Suzuki is the largest
passenger vehicle manufacturer in
India, with 1.2m units. It
dominates the domestic passenger
vehicle with ~44% market share. It
is also emerging as the global
export hub of small cars for Suzuki,
with world strategic model A-Star
exclusively produced in India. It
has recently launched Celerio with unique AMT technology. Its two plants are in
Haryana - Gurgaon and Manesar.
Investment Summary
Maruti Suzuki’s (MSIL) Q4FY17 EBITDA at ~INR25.6bn (up 10% YoY) surpassed
estimate of 5% due to gross margin beat on lower-than-expected Gujarat plant start-
up costs. Key conference call highlights: 1) FY18 volume growth target at 10-12%,
capacity constraint likely in case of stronger demand; 2) growth broad based across
urban and rural markets which are getting more homogenous; 3) discounts to be
lower in FY18 and Q4FY17 reflects commodity cost pressures; and 4) Ignis waiting
period of ~2-3 months.

23
Rate of Change with respect to Volume Traded
Frequency : Weekly
Business Description
Expected growth in double digits of 10‐12% in FY18. Capacity has been aligned to
tackle this spurt. If demand grows at a faster pace, capacity constraints are likely.
Shift towards petrol
continues: Industry share of diesel
down to 40.5% (44.5% in
Q4FY16). MSIL’s diesel volumes for
the quarter grew by 13% YoY to ~115K
units (~30% total volumes), led by
strong product portfolio.
Rural and urban markets are getting
more homogenous. MSIL has seen
broad based growth across cities,
smaller towns and rural markets.
GST Impact: Does not expect any major de‐stocking in the system ahead of GST
implementation.
Increment in total network (including Nexa and new dedicated outlets for Super
Carry) to 2,312 outlets in FY17 (~1,800 in FY16). MSIL has identified around 75 land
parcels (upcoming towns and existing urban centres) for new showrooms and
service centres. The intention is to have all dealer locations on land/building owned
by MSIL. However, this is not a mandatory condition for dealer expansion.
New launches: ‘IGNIS’ Performance in line with expectations; waiting period of
8‐10 weeks. Suzuki’s JV with Toshiba and Denso to set up lithium ion battery in
India will help launch mild and full hybrid models in future.
Share Holding Patterns
Category of Shareholders No. of
Shares
Share holdings (%) Demat Shares Share
Holders
Promoter & Group
Foreign 0 0.00 0 0
Indian 169,788,440 56.21 169,788,440 1
Public Shareholding 132,291,620 43.79 132,287,244 186051
Grand Total 302,080,060 100.00 302,075,684 186052

24
Industry Overview
Annual Income Statement
Actual in M INR Estimates in M INR
Fiscal
Period March
2015 2016 2017 2018 2019 2020
Sales 486 055 563 504 669 094 800 766 924 774 1 069 703
EBITDA 67 130 89 785 103 530 121 600 141 292 163 823
Operating
profit (EBIT)
42 426 61 546 77 509 96 684 114 676 126 586
Pre-Tax
Profit (EBT)
48 682 65 350 99 413 114 411 135 365 158 738
Net income 37 112 45 714 73 377 84 154 99 359 116 514
P/E ratio 30,1 24,5 24,8 27,1 23,0 19,7
EPS ( INR ) 123 151 243 278 328 382
Dividend per
Share ( INR )
25,0 35,0 - 73,5 84,9 97,9
Yield 0,68% 0,94% - 0,97% 1,13% 1,30%
Reference price
( INR )
3695.35 3710.25 6035 7543 7543 7543
Announcement
Date
04/27/2015
08:23am
04/26/2016
10:15am
04/27/2017
08:02am
- - -
0
200000
400000
600000
800000
1000000
1200000
2015 2016 2017 2018e 2019e 2020e
SALES
Operating Profit
Net Income
Financial Ratios
Size 2018 2019
Capitalization ₹2,278,590 M -
Enterprise
Value (EV)
₹ 2,005,903 M ₹ 1,920,693 M
Chart: SENSEX Rebased

25
Valuation
Multi-year favourable product lifecycle for MSIL: MSIL could emerge as the biggest
beneficiary of impending demand recovery, considering its stronghold in the worst-
impacted entry-level segment as well as favourable product lifecycle. MSIL’s new
launches targeted toward filling gaps in its portfolio are likely to improve its overall
product mix. We estimate MSIL would gain market share further, driven by 12%
volumes CAGR over FY17-19E. This, coupled with improvement in mix and
reduction in discounts, would drive revenue CAGR of ~17% over FY17-19E.
EBITDA margins to remain healthy: MSIL’s margins are estimated to increase from
15.4% in FY17 to ~16.5% in FY19 due to
a) discounts reduction with demand revival,
b) mix improvement,
c) benefits of operating leverage and
d) reducing exposure to JPY
Due to exports to Japan and royalty based on INR for new products. This is after
factoring in for impact of Gujarat plant, which would impact FY18 EBIT margins by
~40bp.
Investment Risk
Adverse forex movement: Depreciation in INR or appreciation in JPY poses
downside risk to MSIL’s earnings given 20% of raw material and royalty (which is
5% of sales) are denominated in JPY.
Slowdown in demand: Any weakness in early stages of demand recovery can dent
volume growth and impact stock performance as expectations are already factoring
in strong multi‐year volume growth.

26
References
[1] Software: Orion Lite (MOSL)
[2] Report: Motilal Oswal, “Maruti Suzuki”, 4QFY17 Results Update | Sector:
Automobiles, 27 April 2017.
[3] Book: Martin J. Pring, “Technical Analysis Explained”, Fifth Edition, McGraw-Hill
Educations, 2014.
[4] Report: Motilal Oswal, “Maruti Suzuki”, 2QFY17 Results Update | Sector:
Automobiles, 27 October 2016.
[5] Book: Martin J Whitman, Fernando Diz , “Modern Security Analysis, Understanding
Wall Street Fundamentals ” .
[6] Report: Funds India, “Maruti Suzuki India Limited”, Volume 1, Issue 4, 13 March
2015.
[7] Repot: Edelwise, “Maruti Suzuki India Limited”, India Equity Research | Automobile,
Result Update, Q4FY17.
[8] Report: Prabhudas Lilladher, Rohan Korde, “Maruti Suzuki”, Q4FY16 Result Update,
26 April, 2016.
[9] www.motilaloswal.com
[10]www.moneycontrol.com
[11]www.investopedia.com
[12]www.4-traders.com
[13]www.edelweiss.in
[14]www.bsmedia.business-standard.com
[15]www.blog.fundsindia.com

27
APPENDICES I
CYPRESS-MONEY FOLLOW UP LISTS
NAME NUMBER E-MAIL SEGMENT FREE TRIAL NEXT DATE LEADS PURPOSE 1 COMMENT PURPOSE 2 COMMENT PURPOSE 3 COMMENT PURPOSE 4 COMMENT PURPOSE 5 COMMENT PURPOSE 6 COMMENT PURPOSE 7 COMMENT PURPOSE 8
Dhananjay ** 9923843186 Both 15-May-17 COLD BLISS GVS & BANCO TRACKING BANKINDIA TRACKING
Ajay 9890633800 Cash 15-May-17 BLISS GVS TRACKING BODAL TRACKING BLISS GVS TRK PAYMENT RINGING Payment Call Back Payment Will open soon
Mohit 9765050554 Cash 15-May-17 COLD BACKED OUT
Gautam 9890022892 Future 15-May-17 COLD BANCO TRACKING BANKINDIA TRACKING PAYMENTWILL REOPEN ACCOUNT
Subhash 9850253990 Cash 15-May-17 COLD BLISS GVS TRACKING BODAL RINGING BLISS GVS TRK PAYMENT NOT TRACKING Payment TRk
GAURAV PRASAD KAR *** 9338623867kgauravprasad@gmail.com, kgouravprasad@gmail.comCash 16-May-17 HOT APAR & BODAL TRACKING BODAL TRK PAYMENTSend email in details and call back tomorrow
M. M. SAHU 8093814571 Cash 16-May-17 COLD APAR & BODAL TRACKING
RAJESH VISHWAKARMA** 9040688017 1ST JUNE Both 16-May-17 HOTAPAR & BANKINDIA & BODALTRACKING BODAL TRK PAYMENT 1ST JUNE
PRITAM KUMAR 9861335870 Cash 16-May-17 COLD APAR NR
SUMIT SHARMA 8427796630 Future 16-May-17 16-Jun-17 BANK INDIA TRACKING Payment call back BPCL & ADANIPORTS TRK
RAVI KUMAR 9888736844, 8384998434 Cash 17-May-17PAYED CLIENT NEULAND TRK NEULAND TRK BBTC TRK MOTILAL PR B TRK PAYMENT CAN FIN
MANMOHAN SINGH 9914401442 Cash 17-May-17 COLD NEULAND IN HOSPITAL -
Mandip singh 9780401349 PREFERS IN OPTION Cash 17-May-17 HOT NEULAND TRK NEULAND TRK BBTC TRK MOTILAL PR B TRK JAMNA TRK PAYMENT
Sandeep 9041787742 Both 17-May-17 DR REDDY F & NEULAND TRK NEULAND TRK INDIA CEMENT RINGING BPCLsaying you guys were vanishedAdaniports TRK BPCL & ADANIPORTSLEFT MOBILE AT HOMEMOTILAL PR BSOME LADY PICKED JAMNA
Sudeep Agarwal 9417128628 Cash 17-May-17 COLD NEULAND RINGING NEULAND RINGING BBTC TRK MOTILAL PR B TRK
Surendra ** 9041632841 Cash 17-May-17 HOT NEULAND TRK NEULAND TRK AND DOUBT CLEARING BBTC TRK PAYMENT SAT PAYMENT CALL BACK FIN CAN RINGING
Suraj Singh Rajput 8382980415 CASH 18-May-17 BBTC DRIVING JAMNA TRK CAN FIN
Kailash 8946968789 BOTH 18-May-17 COLD INDIA CEMENT RINGING BPCL TRK
shailendra Kumar 8458805780 CASH 18-May-17 COLD BBTC TRK JAMNA TRK TRK
Kamal 9423127291 31 - EVE BOTH 18-May-17 HOT INDIA CEMENT RINGING BPCL & Adaniports CALL BACK BPCL & ADANIPORTS TRK BBTC TRK PAYMENT In meeting MOTILAL RINGING MOTILAL PR B RINGING JAMNA
Kishan 7385021686 BOTH 18-May-17 COLD SYNDICATE BANK RINGING BPCL & Adaniports TRK BPCL & ADANIPORTS TRK BBTC TRK
Jayesh 9821559511 CASH 18-May-17 COLD SYNDICATE BANK TRK BBTC TRK JAMNA
Sachin Deslae 9766390680 CASH 19-May-17 HOT BBTC TRK MOTILAL TRK MOTILAL PR B RINGING JAMNA PAYMENT - 29CALL BACK IN EVE WILL CHECK EMAIL
BIPIN 9821665590 CASH 19-May-17 COLD BBTC TRK MOTILAL PR B NOT PURCHASE JAMNA CALL BACK
Jitendra 9420975509 CASH 22-May-17 BBTC AT HOME MOTILAL PR B TRK PAYMENT BUSY CAN FIN RINGING
Sivamohan 7719963647 BOTH 22-May-17 COLD BPCL TRK ADANIPORTS TRK BPCL & ADANIPORTS TRK BBTC TRK PAYMENT RINGING MOTILAL TRK MOTILAL PR B RINGING JAMNA
Sharad Gadpayle 9021326066 10-Jun BOTH 22-May-17 HOT BPCL TRK ADANIPORTS TRK BPCL & ADANIPORTS RINGING BBTC TRK PAYMENT NOT YET MOTILAL RINGING MOTILAL PR B RINGING JAMNA
Vinod 9921582524 FUTURES 22-May-17 BPCL RINGING ADANIPORTS RINGING BPCL & ADANIPORTS . PAYMENT TRAVELING PAYMENT CALL BACK
Arsh 7276213950 CALL BACK ON 3 JUNECASH 22-May-17 HOT BBTC TRK MOTILAL SWITCHED OFF MOTILAL PR B TRK PAYMENT will call back CAN FIN RINGING
Prasant Kumar 9422837637 CASH 22-May-17 BBTC TRK MOTILAL NOT SEEN YET MOTILAL PR B TRK PAYMENT wants 2 more days
Mukesh 7387605025 CASH 22-May-17 BBTC TRK MOTILAL RINGING MOTILAL PR B PAYMENT Wrong Number
Arun 8975858289 CASH 22-May-17 COLD BBTC SMS MOTILAL WILL CAL BACK JAMNA TRK PAYMENT Not Reachable
TIWARI 8989807784 bhagwan.tiwari@gmail.comCASH 22-May-17 COLD BBTC PHONE AT HOME JAMNA UNREACHABLE
Hari 9723104117 hvpaladiya@gmail.comCASH 22-May-17 BBTC UNREACHABLE MOTILAL TRK MOTILAL PR B TRK JAMNA TRK PAYMENT RINGING CAN FIN RINGING
Vijay kumar 9743791684bellaryvijaykumar4@gmail.comCASH 22-May-17 COLD BBTC UNREACHABLE MOTILAL UNREACHABLE
Sabbiah Ramanathan 9842923237Ramanathansubbiahi@gmail.comCASH 22-May-17 ENGLISH COLD BBTC TRK MOTILAL TRK MOTILAL PR B TRK JAMNA BUSY PAYMENT Hang up CAN FIN TRK
Gouribhushan 9049607211 shruti.verlekar
@yahoo.com
CASH 24-May-17 BBTC UNREACHABLE MOTILAL TRK MOTILAL PR B TRK CAN FIN RINGING
PARTHA MALLICK 8271000728 parthapower13
@gmail.com
CASH 24-May-17 BBTC RINGING MOTILAL TRK MOTILAL PR B RINGING CAN FIN TRK
PAL 9438167482 FUTURES 25-May-17 TECHM TRK INDUSIND TRK INDUSIND TRK ACC PR BCALL BACK IN 15 MINS
Vijay Kumar 9815690706 BOTH 25-May-17 TECHM TRK BBTC TRK INDUSIND TRK INDUSIND Pr TRK MOTILAL PR B TRK Acc left at home ACC PR B RINGING PAYMENT
Yuvraj Adaki 9730461269 CASH 25-May-17 COLD BBTC TRK MOTILAL GO MEETING
Kaushik Sonwal 8254968078 CASH 25-May-17 COLD BBTC TRK MOTILAL TRK MOTILAL PR B TRK CAN FIN TRK
.
Sanjay Aher 8878019022 CASH 26-May-17 CAN FIN UNREACHABLE DWARIKESH TRK
RAJESH 8484001199 BOTH 26-May-17 OPTIONS HOT ACC TRK DR REDDY TRK TATACHEM TRK CAN FIN TRK
Anup Madkaikar 9545958195 CASH 26-May-17 COLD CAN FIN
ABC 9438167482 FUTURES 26-May-17 ACC Call Back DR REDDY RINGING RELIANCE RINGING
Sandeep 9041787742 Both 24-May-17 DR REDDY TRK RELIANCE RINGING TITAN RINGING BANK NIFTY RINGING TITAN B PR trk TATACHEM ON CALL EXPL CAN FIN TRK PNB
Prasant Kumar 9422837637 TRAVELING Cash 24-May-17 HOT CAN FIN TRK DWARIKESH TRK
TRILOCHANA 9819283263 BOTH 31-May-17 PNB TRACKINGDWARIKESH SUGAR INDUSTRIESTRACKING
NIRAV 8291111189 BOTH 31-May-17 PNB TRACKINGDWARIKESH SUGAR INDUSTRIESTRACKING
Sanjay Kohad 9822470481 CASH 30-May-17 COLD CAN FIN RINGING DWARIKESH RINGING
Bhoj Raj chaturvedi 9887483008 watching CASH 30-May-17 CAN FIN TRK DWARIKESH TRK
Chinmoy Sengupta 9331067226 CASH 30-May-17 CAN FIN TRK DWARIKESH TRK
AJIT 9326402525 OPTION CASH 30-May-17 HOT DWARIKESH RINGING
SAMEER 9823459776 FUTURES 31-May-17 HOT PNB TRK PNB PR B RINGING
Badrivishal 9923330991 COMMODITY FUTURES 31-May-17 05-Jun-17 COLD PNB TRK PNB PR B TRK
Avinash 9763390573 CASH 31-May-17 HOT DWARIKESH TRK
Gopal 9028630981 BOTH 31-May-17 IMP COLD PNB Reject
Ajit Chauhan 9326662626 CASH 31-May-17 COLD DWARIKESH RINGING
Kirtesh 9372887496 FUTURES 31-May-17 COLD PNB Switched OFF
Mathew Ben 9822026164 CASH 01-Jun-17 DWARIKESH RINGING
Deepak Kulkarni 8308417251 CASH 01-Jun-17 DWARIKESH TRK
Jantilal Jayanth 9823039027 CALL BK BOTH 01-Jun-17 PNB TRK PNB PR B TRK DWARIKESH TRK
Navnat 7588032824 CASH 01-Jun-17 DWARIKESH TRK
Chhitij Kumar 7205863301 Cash 01-Jun-17 DWARIKESH TRK
Rajesh 9860273029 CASH 01-Jun-17 DWARIKESH TRK
Mangesh 9970931709 CASH 01-Jun-17 DWARIKESH TRK
Amar 9823135443 CASH 01-Jun-17aLredy been free client and been in loss by cypress moneyDWARIKESH TRK
Sameer Nahar 9822536306 FUTURES 01-Jun-17 PNB TRK
RAJAN PAREKH 9422225065 CASH 22-May-17 BBTC TRACKING MOTILAL OSWAL FINANCIAL SERVICES LTD.TRACKINGJAMNA AUTO INDUSTRIES LTD.TRACKING RINGING
DR BHAGWAN 9373577101 CASH 22-May-17 WARMBOMBAY BURMAH TRADING CORPORATION LTD.TRACKINGMOTILAL OSWAL FINANCIAL SERVICES LTD.TRACKINGJAMNA AUTO INDUSTRIES LTD.TRACKING
JISAYA NAIK 7377244387 FUTURES 17-May-17 call him on 29 HOT BEML TRACKING DRREDDY TRACKING bpcl,adani ports,bank niftycall on 26th
MANOJ AGARWAL 9437587890 BOTH 17-May-17call on Monday,GIVE TWO CALLS BEML RINGING DRREDDY TRACKING NEULAND LAB LTD TRACKING bpcl,adani ports busy reliance busy tata chem trk can fin homes
GROUP 5
Group 15 A
GROUP 16 A
GROUP 22
Group 25
GROUP 1
GROUP 31
Group 29
Group 26
Group 24

28
APPENDICES II
DEMAT ACCOUNTS ACTIVATED

29
APPENDICES III
POSTERS DESIGNED FOR SALES BY ME

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