Introduction

1.1) Introduction to the Industry Capital market:

The capital market is the market for securities. Its an interaction between the company and the investors. It helps the companies and the government to raise long-term funds. The capital market includes the 1. Stock Market 2. Bond Market Financial regulators, such as the Securities and Exchange Board of India, (SEBI) oversee the capital markets to ensure that investors are protected against fraud.

Securities and Exchange Board of India (SEBI):The Regulator Securities and Exchange Board of India (SEBI) Established under section 3 of SEBI Act 1992.SEBI is the Regulator for the Securities Market in India. Originally set up by the Government of India in 1988, it acquired statutory form in 1992 with SEBI Act 1992being passed by the Indian Parliament. Chaired by C B Bhave, SEBI is headquartered in the popular business district of Bandra-Kurla complex in Mumbai, and has Northern, Eastern, Southern and Western regional offices in New Delhi, Kolkata, Chennai and Ahmadabad.

Function and Responsibilities:SEBI has to be responsive to the needs of three groups, which constitute the market:

The issuers of securities The investors The market intermediaries.

SEBI has three functions rolled into one body quasi-legislative, quasi-judicial and quasiexecutive. It drafts regulations in its legislative capacity, it conducts investigation and enforcement action in its executive function and it passes rulings and orders in its judicial 1

capacity. Though this makes it very powerful, there is an appeals process to create accountability. There is a Securities Appellate Tribunal which is a three member tribunal and is presently headed by a former Chief Justice of a High court - Mr. Justice NK Sodhi. A second appeal lies directly to the Supreme Court. SEBI has enjoyed success as a regulator by pushing systemic reforms aggressively and successively (e.g. the quick movement towards making the markets electronic and paperless rolling settlement on T+2 basis). SEBI has been active in setting up the regulations as required under law.

ROLE OF SEBI:
Regulation of Securities market Development of Securities market Protection of investor interest

Stock Market

A stock market is a public market for the trading of company stock and derivatives at an agreed price; these are securities listed on a stock exchange as well as those only traded privately. The size of the world stock market was estimated at about $36.6 trillion US at the beginning of October 2008. The total world derivatives market has been estimated at about $791 trillion face or nominal value, 11 times the size of the entire world economy. The value of the derivatives market, because it is stated in terms of national values, cannot be directly compared to a stock or a fixed income security, which traditionally refers to an actual value. Moreover, the vast majority of derivatives 'cancel' each other out (i.e., a derivative 'bet' on an event occurring is offset by a comparable derivative 'bet' on the event not occurring.). Many such relatively illiquid securities are valued as marked to model, rather than an actual market price.

Terms used in Stock Market: Arbitrage: Taking advantage of minor aberrations in the market to try to profit as the market returns to normal. Arbitrage might take advantage of imbalances in prices between two markets for the same security (such as a domestic and a foreign market) or

between two types of securities whose value depends on the same underlying security (such a stock and a bond convertible into the stock). Broker: One who acts for another. When a firm acts as agent, it is acting as a broker, bringing together a buyer and a seller. As agent it does not buy or sell for its own account. Commission: The fee charged by a broker/dealer for acting for others in executing buying or selling orders. Customer: Any person or entity for whom the broker/dealer holds funds or securities, unless that entity is another broker/dealer. (Though municipal securities dealers may be considered customers on transactions not involving municipal securities.). Earnings per share: The net income of a corporation after taxes and payment of preferred stock dividends, divided by the number of common shares outstanding. Equity: The value of an asset (or part of an asset) which is not indebted. Equity trader: Category of registration both for market makers, agency traders, and proprietary traders in NASDAQ and other OTC market equity or convertible debt securities and for supervisors of those activities. Does not include traders who primarily execute orders for a registered investment company. Equity traders must pass the test for limited representative-equity trader (Series 55) and, in addition, either Series 7 or Series 62. Face value: The amount on the face of a bond on which interest payments are calculated. This amount is also the amount due at maturity. May be higher or lower than market value. Also called par value. Fair market price: The price a willing buyer would pay a willing seller for an asset, where both are acting rationally with full knowledge. Initial public offering: The initial sale of securities to the public, often called an IPO. Inside market: The inside market is the lowest ask (selling) price and the highest bid (buying price) available for a particular security at a point in time. Institutional investor: A investor who is a bank, savings and loan association, insurance company, registered investment company, federal- or state-registered investment adviser, or any other person, corporation, partnership, trust, or other entity with total assets of at least $50 million. Investment: The use of capital to earn more money, by generating income and/or capital gains. Limit order: An order to buy or sell subject to some limitation as to price. 3

 Liquid assets: Cash or assets easily convertible to cash, such as Treasury bills, money market fund shares, or demand deposits. Liquidity: For an investment, portfolio, or account, the ease with which assets may be converted into cash. For a market, the ability of the market to absorb fairly large volumes of sales without drastically affecting the price. Margin: The amount a client pays for a security purchase in a credit (or margin) account with a broker/dealer. Initial margins on purchases are set by the Federal Reserve Board. Minimum margin maintenance amounts are set by the exchanges. Margin account: An account in which a customer may pay only part of the purchase price of securities. Margin call: In a margin account, the request for more equity to bring the account up to the minimum margin maintenance level. Margin calls can be met by depositing cash or stock, or by using SMA. Market order: An order to buy or sell as soon as possible at the best available price. Market price: For securities sold on an exchange, the last reported price at which the security sold. For over-the-counter securities, the inside market quote. Negotiable: A term used to describe a security for which title may be transferred by delivery, such as a stock certificate with a properly signed stock power. Net worth: Owners' equity of the firm, or all assets less all liabilities. For a corporation, net worth is equal to the total of capital stock, paid-in capital, and retained earnings. Position limits: A limit set by the exchange on which an option trades as to the number of standard options contracts on the same side of the market on the same underlying security that an investor may hold at any given time. Set at 75,000, 60,000, 31,500, 22,500 or 13,500 contracts for each option class. Reviewed semiannually (January 1 and July 1). See side of market. Price to Earnings ratio: The ratio of the price of a common stock to its earnings per share often referred to as the P/E ratio. It is used to measure how expensive a stock is, relative to its earnings. Primary market: The buying and selling of new issues. Resales are handled in the secondary markets.

Principal:
1) In a loan, the amount of the loan, not including interest; 4

2) In a brokerage firm, a person in an ownership and/or supervisory capacity; 3) In a trade, a firm acting as dealer. Selling short: Selling a security or future that the seller does not own, either to lock in a gain on a long position or to make a gain on an anticipated decline in the market. Turnover rate::The number of shares traded in a year as a percentage of the total shares outstanding. May be calculated for a particular security, a portfolio (such as a mutual fund), or a securities exchange.

The capital markets consist of: Primary market Secondary market

Primary market:Its providing the channel for creation of new securities through issuance of financial instrument by public companies as well as government and government agencies and bodies. The primary market provides the channel for sale of new securities. Primary market provides opportunity to issuers of securities, Government as well as corporate, to raise resources to meet their requirements of investment and/or discharge some obligation. They may issue the securities at face value or at a discount/premium and these securities may take a variety of forms such as equity, debt etc. They may issue the securities in domestic market and/or international market. Face Value of a Share/Debenture:-The nominal or stated amount (in Rs.) assigned to a security by the issuer. For shares, it is the original cost of the stock shown on the certificate; for bonds, it is the amount paid to the holder at maturity. Term Premium and Discount in a Security Market:-Securities are generally issued in denominations of 5, 10 or 100.This is known as the Face Value or Par Value of the security as discussed earlier. When a security is sold above its face value, it is said to be issued at a Premium and if it is sold at less than its face value, then it is said to be issued at a Discount. Issue of Shares:-Most companies are usually started privately by their promoter(s). However, the promoters capital and the borrowings from banks and financial institutions may not be sufficient for setting up or running the business over a long term. Therefore, companies invite the public to contribute towards the equity and issue shares to individual investors. 5

Different kinds of Issues:-

Primarily, issues can be classified as a Public, Rights or Preferential issues (also known as private placements). While public and rights issues involve a detailed procedure, private placements or preferential issues are relatively simpler. The classification of issues is as follows: Initial Public Offering (IPO) is when an unlisted company makes either a fresh issue of securities or an offer for sale of its existing securities or both for the first time to the public. This paves way for listing and trading of the issuers securities. A Follow on Public Offering (Further Issue) is when an already listed company makes a fresh issue of securities either to the public or an offer for sale to the public, through an offer document. Rights Issue is when a listed company which proposes to issue fresh securities to its existing shareholders as on a record date. The rights are normally offered in a particular ratio to the number of securities held before the issue. This route is best suited for companies who would like to raise capital without diluting stake of its existing shareholders.

A Preferential Issue is an issue of shares or of convertible securities by listed companies to a select group of persons under Section 81 of the Companies Act, 1956 that is neither a rights issue nor a public issue.

SECONDARY MARKET
Secondary market refers to a market where securities are traded after being initially offered to the public in the primary market and/or listed on the Stock Exchange. Majority of the trading is done in the secondary market. Secondary market comprises of equity markets and the debt markets. Role of the Secondary Market:-For the general investor, the secondary market provides an efficient platform for trading of his securities. For the management of the company, Secondary equity markets serve as a monitoring and control conduitby facilitating valueenhancing control activities, enabling implementation of incentive-based management contracts, and aggregating information (via price discovery) that guides management decisions. Products dealt in the Secondary Markets:-Following are the main financial products/instruments dealt in the Secondary market that may be divided broadly into Shares and Bonds:

Shares:
1. Equity Shares: An equity share, commonly referred to as ordinary share, represents the form of fractional ownership in a business venture. 2. Rights Issue/ Rights Shares:-The issue of new securities to existing shareholders at a ratio to those already held, at a price. For e.g. a 2:3 rights issue at Rs. 125, would entitle a shareholder to receive 2 shares for every 3 shares held at a price of Rs. 125 per share.

3. Bonus Shares: Shares issued by the companies to their shareholders free of cost based on the number of shares the shareholder owns. 4. Preference shares: Owners of these kind of shares are entitled to a fixed dividend or dividend calculated at a fixed rate to be paid regularly before dividend can be paid in respect of equity share. 7

5. Cumulative Preference Shares type of preference shares on which dividend accumulates if remained unpaid. All arrears of preference dividend have to be paid out before paying dividend on equity shares. 6. Cumulative Convertible Preference Shares type of preference shares where the dividend payable on the same accumulates, if not paid. After a specified date, these shares will be converted into equity capital of the company.

Bond: Bond is a negotiable certificate evidencing indebtedness. It is normally

unsecured. A company, municipality or government agency generally issues a debt security. A bond investor lends money to the issuer and in exchange, the issuer promises to repay the loan amount on a specified maturity date.

Treasury Bills: Short-term (up to one year) bearer discounts security issued by
government as a means of financing their cash requirements.

Stock Exchange
A stock exchange, (formerly a securities exchange) is a corporation or mutual organization which provides "trading" facilities for stock brokers and traders, to trade stocks and other securities. Stock exchanges also provide facilities for the issue and redemption of securities as well as other financial instruments and capital events including the payment of income and dividends. The securities traded on a stock exchange include: shares issued by companies, unit trusts, derivatives, pooled investment products and bonds. To be able to trade a security on a certain stock exchange, it has to be listed there. A stock exchange is often the most important component of a stock market. Supply and demand in stock markets is driven by various factors which, as in all free markets, affect the price of stocks.

Operation of stock exchange:

With the help of stockbrokers, the buyers and sellers participating in a stock market carry out 8

their transactions. The brokers representing selling parties take their orders to the stock exchange floor and then find brokers representing parties willing to invest in similar stocks. If both parties agree to trade at the fixed price, the transaction takes place

Trading
NSE introduced for the first time in India, fully automated screen based trading. It uses a modern, fully computerized trading system designed to offer investors across the length and breadth of the country a safe and easy way to invest. The NSE trading system called 'National Exchange for Automated Trading' (NEAT) is a fully automated screen based trading system, which adopts the principle of an order driven market. Many brokers of the NSE provide Internet based trading facility to their clients. Internet based trading enables an investor to buy/sell securities through Internet, which can be accessed from a computer at the investors residence or anywhere else where the client can access the Internet. Investors need to get in touch with an NSE broker providing this service to avail of Internet based trading facility. Bonanza Portfolio Enterprises Limited is the holding company for all its businesses, structured and being operated through various subsidiaries.

Clearing and Settlement

NSCCL carries out clearing and settlement functions as per the settlement cycles of different sub-segments in the Equities segment. The clearing function of the clearing corporation is designed to work out a) what counter parties owe and b) what counter parties are due to receive on the settlement date. Settlement is a two way process which involves legal transfer of title to funds and securities or other assets on the settlement date. NSCCL has also devised mechanism to handle various exceptional situations like security shortages, bad delivery, company objections, auction settlement etc.

Brokerage houses
A brokerage house, also called a brokerage firm, company licensed to buy and sell stocks or securities. Acting as an intermediary between buyers and sellers, a brokerage house typically employs brokers who carry out the wishes of the firm's clients as they pertain to the trading Basis stocks. Broker services are usually provided on commission. In addition to commissions, a brokerage firm may charge various other fees. These fees may include charges for transferring assets, closing an account, and wiring money. Additionally, a brokerage firm may require the payment of IRA custodian fees, as well as annual services charges and fees related to periods of account inactivity. Depending on the policies of the brokerage house, a client's account may also incur a fee for failing to meet a minimum required account balance There are several different ways of executing trades. A brokerage house may choose to employ all or just some of them. For example, a firm may allow for trading over the phone or via the Internet, as well as other methods.

Screen Based Trading

The trading on stock exchanges in India used to take place through open outcry without use of information technology for immediate matching or recording of trades. This was time consuming and inefficient. This imposed limits on trading volumes and efficiency. In order to provide efficiency, liquidity and transparency, NSE introduced a nationwide, online, fully automated screen based trading system (SBTS) where a member can punch into the computer the quantities of a security and the price at which he would like to transact, and the transaction is executed as soon as a matching sale or buy order from a counter party is found. 10

Internet based trading facility

Many brokers of the NSE provide Internet based trading facility to their clients. Internet based trading enables an investor to buy/sell securities through Internet, which can be accessed from a computer at the investors residence or anywhere else where the client can access the Internet. Investors need to get in touch with an NSE broker providing this service to avail of Internet based trading facility.

Brokerage:
A brokerage is a firm that acts as an intermediary between a purchaser and a seller. More commonly, a brokerage is referred to as a brokerage firm. To brokera deal is to communicate with both the buyer and seller as to acceptable price on anything sold or purchased. Brokerage is for delivery based trades and decreases for intra-day trades. A delivery based trade is when the investor buys shares with the idea of holding on to it and the shares are actually delivered to the buyer. Basically, it is a trade where the transaction ends in actual delivery of the stocks. Intra-day trades are when you buy and sell the same stocks during the day. The transaction does not end in actual delivery but it is squared off. The net difference is paid by/ received by the customer at the end of the settlement.

Broker
A broker is a party that mediates between a buyer and a seller. A broker who also acts as a seller or as a buyer becomes a principal party to the deal. Distinguish agent: one who acts on behalf of a principal. A "brokerage" or a "brokerage firm" is a business that acts as a broker. A brokerage is a business that specializes in trading stocks. A sales person working for a securities or commodity brokerage firm is popularly (but incorrectly) called a "broker." A broker in that context is, strictly speaking, an exchange member who is actually executing the purchase or sales order in the 'pit', on the exchange, as a service to the client of the firm for which that salesman works. A broker, a single person, or the brokerage firm completes any necessary legal paperwork, obtains the appropriate signatures, and collects money from the purchaser to give to the seller. Since the buyer and seller are employing the brokerage to complete the deal, the brokerage may collect a portion of the money obtained. In some cases,

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a brokerage receives money from both parties. In others, the brokerage receives a commission only from the seller

1.2 Company Profile

Bonanza, a leading financial services &brokerage house working diligently since 1994 can be describe in a single word as a financial powerhouse. With acknowledged industry leadership in execution and clearing services on exchange traded derivatives and cash market products, bonanza has spread its trustworthy tentacles all over the country with more than 1050 outlets spread across 350 cities. It provides an extensive range of services in equity, commodities, currency derivatives, wealth management, distribution of third party product, etc. Being at par with the modern tech-savvy world, bonanza makes an integrated and an innovative use of technology. It also enables its clients to trade online as well as offline the strategic tie-ups with he latest technology partners has earned bonanza a prestigious place as one of the top brokerage houses in the country. Client-focused philosophy backed by membership of all principal Indian stock and commodity exchange makes bonanza stand apart from competitor as a preferred services provider in the industry for value-based service

Bonanza Product and Service

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BrokerageFunds Wealth Mutual Advisory Currenc Equity CDS Commodit Insuranc Demat IPO Distributio NSD Derivative PM Bonanza

Services Management ysS L y en L s Products

Bonanzas service encompasses the spectrum of wealth creation, management and preservation. Bonanza offers a wide range of product and services to help client reach their financial goal.

Brokerage Services:
Equity and equity derivatives 13

Trading Platform offers online Equity & Equity Derivatives trading facilities for investors. This high-end, efficiently integrated application makes trading convenient, quick and hassle free. Added advantages - Having access to resources like research charts, advice, live quotes online assistance - to take well-versed decisions. Trading through our branch network or phone available, by simply registering with us.

Commodity Derivatives We are clearing-cum-trading members in Future & Options segment in NSE as well as BSE and we provide this facility to our clients. You can trade in future and options through www.bonanzaonline.com you can trade in index Options, Index Future, Stock Option, Derivatives, CNXIT and BANKEX We offer access to future trading via multiple exchanges in wide-ranging Commodities agricultural commodities, base metals, energy and precious metals. We also provide investment opportunities in gulf commodities futures and currency market. Currency Derivatives Known as being predecessors in contributing to unique financial products, we have now added to our stable - currency Derivative. This service, we provide both offline and online. Portfolio Management Services (PMS) Our team of portfolio managers design portfolios to suit every customers needs. Constantly scrutinizing the developments in market and moving stocks, we aim for maximum capitalization. We suggest the most appropriate product to customers, based on factors like their investment spheres, return expectation and risk tolerance. Our experience, expertise and research helps us give our customers investments the best upshots. Advisory Bonanza guides and supports its clients to re-structure and streamline their portfolios based on changing market conditions and client objectives. Depository Services: 14

Bonanza in association with the NSDL & CDSL offers you the whole range of DEPOSITORY SERVICES to make your share transaction faster, cheaper and easier for equity as well commodity. An organization that hold your shares in electronic form the same way as a bank holds your money is termed as a depository. We are pleased to introduce you bonanza as a depository participant for NSDL and CSDL and offer the whole range of depository services to its investor like. Account Opening: - individual/corporate/CM/in Equity/commodity. Dematerialization/Rematerilisation: - Conversion of physical shares in to Electronic form and vice versa. Repurchase/Redemption: - Facilitation repurchase/redemption of units of Mutual Funds Electronic settlement of tracks in stock exchanges. Pledging of dematerialized securities against loan Nomination facility Electronic credit of securities allotted in public issues, right issues. Providing better services at competitive rates Bonanza is a depository participant with NSDL and CDSL. We provide an array of Depository Services to make share transactions quicker, easier and cheaper for both Equity and Commodity. Distribution: Insurance Bonanza offers insurance products in Life and General Insurance. Our IRDA certified advisors offer prudent advice on policy selection and assists through the claim redressal process. Our advisory team matches the insurance products to financial profiles of customers to offer the best solution options, maintaining transparency and professionalism. Mutual Funds Bonanza is one of the largest distributors of mutual fund in India. With the help of our in-depth research across categories covering 20 parameters and our expertise, we guide our clients to take appropriate investment decisions. Keeping in mind customers' budgets, needs and securities, our AMFI certified investment advisors offer the best deals.

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Initial Public Offer (IPO) We offer our customers online investment access for Public offerings. In-depth research advice for the forthcoming IPOs.

Bonanzas Affiliations Equity National Stock Exchange of India Ltd. (NSEIL) The Bombay Stock Exchange Ltd. (BSE) OTC Exchange of India Ltd (OTCEIL) Commodities Multi Commodity Exchange (MCX) National Commodity and Derivatives Exchange Ltd (NCDEX) Dubai Gold Commodities Exchange (DGCX) National Multi Commodity Exchange (NMCE) Currency National Stock Exchange of India Ltd. The Bombay Stock Exchange Ltd. (BSE) MCX-SX Ltd. Depository participant with CDSL and NSDL Bonanzas Strengths Bonanza has over 1050 outlets in more than 350 cities in India. (as on March 2009) Bonanza has more than 2 lakh clients comprising of Corporate Financial Institution Investors, Mutual Funds, High Net-worth Individuals and Retail Investors. Bonanza has a young dynamic team of 1900 professionals. Strong infrastructure supporting over 3000 trading terminal supporting more than 350 VSAT's to support geographic reach and servicing capabilities. 24x7 service and support via our federal support system.

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Bonanza Values Customer centric approach At Bonanza, customers comes first. And their satisfaction is not just our top priority but also the driving force for us, every single day Transparency Honesty is our forte. We believe in dealing on thoroughly ethical grounds, being fair and transparent with our customers Meritocracy We recognize and appreciate efforts put in by our employees. And we, as a matter of fact, reward and distinguish each one of them, ceaselessly. Solidarity we believe in sharing a forthright and respectful relationship with our business partners and employees. We consider them both as our team associates, who work together. Succeed together. Bonanzas Pillars: Management Team Meet the minds behind the corporation Bonanza - the Directors who are leading this gigantic force. S.P. Goel The Founder Director of Bonanza who has been instrumental in Chartering critical and strategic initiatives. With an experience of 25 years in the finance business, Mr. Goel has also been appointed as the director of the OTC Exchange of India. He represents NSEIL for the SEBI constituted Dr. J R Verma Advisory committee for the development of the derivatives market in India. He started his career as a CA in 1987 and soon after he embodied several prominent committees on settlement issues (COSI), a policy generating body at the NSE of India Ltd and Dispute Resolution Committee (DRC) of National Stock Exchange Clearing Corporation Limited (NSCCL) Shivkumar Goel Being the Founder Director of Bonanza, he has been handling IT & risk initiatives since inception. Formerly, designated as the CEO of SRF Finance Limited, Delhi; Mr. Shivkumar Goel had also spearheaded the IT committee of the DELHI Stock Exchange. A CA & CS with more than 30 years of experience, he recently was nominated as the executive committee member of Depository Participants Association of India. He is currently a functional member with Association of National Exchanges Members of India NR S.K. Goel 17

Has been Bonanzas Founder Director and a prominent CA for more than 35 years now. Being actively involved in managing the Business initiatives and Accounting across India; Mr. S.K.Goel has been mainly heading Bonanzas northern and eastern zone. He was formerly with the Modis & OSWALS - one of the leading manufacturing companies, in addition to being empanelled with various major banks as their Internal Auditor. Vishnu Kumar Agarwal The Founder Director of Bonanza with over 30 years of experience Mr. Vishnu has proficiently taken charge of Administration, Real Estate Investments and Initiatives for all the group companies of Bonanza. Anand Prakash Goel He has been playing a pivotal role as Bonanzas Founder Director by resourcefully managing Taxation, Compliance and DP. A qualified CA with more than 30 years of experience in his stride, he has undertaken audits for leading banks across India. Saurabh Shukla He plays a pivotal role as the Group COO and one of the Directors of Bonanza Commodity Brokers Ltd. He has been actively involved in varied key strategic functions and management of retail business. Previously, designated as Head of Marketing for the Refco Group, he has also worked for Merchant and Investment Banking and Corporate Finance. He was also ardently involved in developing and servicing corporate / institutional customers at Blue Blends Finance Ltd. and Natsons Pvt. Ltd Bonanzas Vision To be one of the most trusted and globally reputed financial distribution companies. Bonanza Values Customer centric approach At Bonanza, customers come first. And their satisfaction is not just our top priority but also the driving force for us, every single day. Transparency 18

Honesty is our forte. We believe in dealing on thoroughly ethical grounds, being fair and transparent with our customers. Meritocracy We recognize and appreciate efforts put in by our employees. And we, as a matter of fact, reward and distinguish each one of them, ceaselessly. Solidarity We believe in sharing a forthright and respectful relationship with our business partners and employees. We consider them both as our team associates, who work together. Succeed together. Bonanzas growth: Cliental growth after spreading our wings across varied segments, we are now growing in all direction with more than 2 lakh clients under the banner. Bonanza Research Desk Bonanza Research desk has a dedicated team of research analysts and experts that have an indepth knowledge of the market place. They offer value perspectives, focus on opportunities for investment and growth and endeavor to reduce risk potential. It's premium advisory services are based on technical and fundamental views and strategies. Equity - SMS alert - Daily market strategy - Weekly market strategy - Monthly market strategy - 'Equity talk' -Daily derivative strategy Commodity - SMS alert - Daily report - Weekly report - Monthly report: Commodity Review

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Mutual funds - Daily Performance Sheet - Weekly Mutual Fund Report 'The Edge' - Monthly free News Letter 'The Perspective' Regular updates on products, performance and new launches. Currency Derivatives- Daily Forex Insight report. Bonanzas Technology Single VSAT Connectivity for NSE/BSE/F&O/NCDEX /MCX/MCX-SX through Virtual Private Network (VPN) Other connectivity links to branches through Leased Lines, ISDN, Radio Frequency and Broadband. High Speed and Streaming live quote access via Internet for NCDEX/MCX/MCX-SX for branches and retail clients. Internet based Depository access (Speed-e/Easiest) to offer DP services to Retail investors. 24x7 online access to a centralized support structure for all products offerings. Bonanzas Achievement Top Equity Broking House in terms of branch expansion for 2008 3rd in terms of Number of Trading Accounts for 2008 6th in terms of Trading terminals in for two consecutive years 2007- 2008 9th in terms of Sub Brokers for 2007 Awarded by BSE 'Major Volume Driver 04-05, 06-07, 07-08.Nominated among the Top 3 for the "Best Financial Advisor Awards '08" in the category of National Distributors Retail instituted by CNBC-TV18 and Opti Mix

1.3 Introduction to topic

Since the beginning of the twentieth century and especially after World War II, training programs have become widespread among organizations in the United States, involving more and more employees and also expanding in content. In the 1910s, only a few large companies 20

such as Westinghouse, General Electric, and International Harvester had factory schools that focused on training technical skills for entry-level workers. By the 1990s, forty percent of the Fortune 500 firms have had a corporate university or learning center. In recent decades, as the U.S. companies are confronted with technological changes, domestic social problems and global economic competition, training programs in organizations have received even more attention, touted as almost a panacea for organizational problem. The enormous expansion in the content of training programs over time has now largely been taken for granted. Now people would rarely question the necessity of training in conversational skills. However, back to the 1920s, the idea that organizations should devote resources to training employees in such skills would have been regarded as absurd. Such skills clearly were not part of the exact knowledge and methods that the employee will use on his particular job or the job just ahead of him. Nevertheless, seventy years later, eleven percent of U.S. organizations deem communications skills as the most important on their priority lists of training, and many more regard it as highly important. More than three hundred training organizations specialize in communications training. Previous studies on training have largely focused on the incidence of formal training and the total amount of training offered. This study, however, draws attention to the enormous expansion in the content of training with an emphasis on the rise of personal development training (or popularly known as the "soft skills" training, such as leadership, teamwork, creativity, conversational skills and time management training). Personal development training can be defined as training programs that aim at improving one's cognitive and behavioral skills in dealing with one self and others. It is intended to develop one's personal potential and is not immediately related to the technical aspects of one's job tasks. Monahan, Meyer and Scott (1994) describe the spread of personal development training programs based on their survey of and interviews with more than one hundred organizations in Northern California. "Training programs became more elaborate; they incorporated, in addition to technical training for workers and human relations training for supervisors and managers, a widening array of developmental, personal growth, and self-management courses. Courses of this nature include office professionalism, time management, individual contributor programs, entrepreneur, transacting with people, and applying intelligence in the workplace, career management, and structured problem solving. Courses are also offered on health and personal well-being, including safe diets, exercise, mental health, injury prevention, holiday health, stress and nutrition." Training in terms of organization 21

Transferring information and knowledge to employers and equipping employers to translate that information and knowledge into practice with a view to enhancing organization effectiveness and productivity, and the quality of the management of people. It also means that in organizational development, the related field of training and development (T & D) deals with the design and delivery of workplace learning to improve performance. Difference between Training and Learning There is a big difference: 'Training' implies putting skills into people, when actually we should be developing

people from the inside out, beyond skills, i.e., facilitating learning. So focus on facilitating learning, not imposing training. Emotional maturity, integrity, and compassion are more important than skills and processes. If you are in any doubt, analyze the root causes of your organization's successes and your failures - they will never be skills and processes. Enable and encourage the development of the person - in any way that you can. Give people choice - we all learn in different ways, and we all have our own strengths and potential, waiting to be fulfilled. Talk about learning, not training. Focus on the person, from the inside out, not the outside in; and offer opportunities for people to develop as people in as many ways you can. A Brief Critique of Previous Approaches to Employee Training It is a classic question in the training field, first raised by human capital theorists, that why firms train their employees. Many attempts have been made to address this question, but the question of why firms provide general-skill training has not been fully understood. There have been two main theoretical approaches towards employee training, namely, the human capital approach and the technology-based approach. The human capital approach regards training as investment in human capital. Training is provided only when the benefit from productivity gains is greater than the cost of training. The technology-based approach regards training as a skill formation process. According to this approach, the expanded training in the contemporary period is driven by the rapidly changing technologies and work reorganization. These two approaches are popular in academic and policy discussions. What they have in common is that they assume an instrumental logic and technical rationality behind training decisions. Training is provided because it satisfies the functional needs of an organization. Studies with these approaches have largely overlooked the content of employee training, as if all kinds of training programs equally contribute to human capital accumulation or skill 22

formation. Moreover, personal development training becomes a puzzle if viewed from these approaches, because it does not seem to follow from an instrumental logic or technical rationality. The Puzzle about Personal Development Training The puzzle about personal development training comes in the following four ways. First, it is not innately or immediately related to the technical aspects of specific job tasks. Second, prior need analysis is rarely conducted for such training, despite suggestions to do so in many training handbooks. Third, organizations and trainers seldom conduct evaluations of behavior or outcome changes brought out by such training. Evaluation, when there is one, is often about how one feels about the training or what one has learned. The evaluation questionnaire is often called a "smile sheet," as trainees often respond happily to the questions. But the impact of the training remains uncertain. Fourth, the rapid expansion of personal development training has taken place in the absence of scientific evidence of any link between such training and improvement in organizational bottom lines. Core Argument So, why have organizations increasingly engaged in personal development training? It is because that the rise of the participatory citizenship model of organization over time has driven the expansion of personal development training in organizations. This argument is based on an institutional perspective towards organizations. It is distinct from previous approaches to training in two ways. First, it recognizes that training is not only provided to satisfy functional needs of firms, but is also shaped by the shared understanding about individuals and organizations, which is called "organizational model" in this study and is independent of the functional needs. Second, training decisions are not only affected by the internal conditions of an organization, but are also affected by the dominant ideologies and practices in the organizational field. Types of training methods A. On the job training method The development of a manager's abilities can take place on the job. The four techniques for on the job development are: 1. Coaching 2. Mentoring 3. Job rotation 23

4. Jo instruction technique 1. Coaching: It is one of the training methods, which is considered as a corrective method for inadequate performance. According to a survey conducted by International Coach Federation (ICF), more than 4,000 companies are using coach for their executives. These coaches are experts most of the time outside consultants. A coach is the best training plan for the CEO's because It is one to one interaction It can be done at the convenience of CEO It can be done on phone, meetings, through e-mails, chat It provides an opportunity to receive feedback from an expert It helps in identifying weaknesses and focus on the area that needs improvement. This method best suits for the people at the top because if we see on emotional front, when a person reaches the top, he gets lonely and it becomes difficult to find someone to talk to. It helps in finding out the executive's specific developmental needs. The needs can be identified through 60 degree performance reviews. 2. Mentoring: It is an ongoing relationship that is developed

between a senior and junior employee. Mentoring provides guidance and clear understanding of how the organization goes to achieve its vision and mission to the junior employee. Mentoring is one of the important methods for preparing mentees to be future executives. This method allows the mentor to determine what is required to improve mentee's performance. Once the mentor identifies the problem, weakness, and the area that needs to be worked upon, the mentor can advise relevant training. The mentor can also provide opportunities to work on special processes and projects that require use of proficiency. Some key points on Mentoring Mentoring focus on attitude development Conducted for management-level employees

Mentoring is done by someone inside the company

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It is one-to-one interaction It helps in identifying weaknesses and focus on the area that needs improvement 1. Job rotation: job rotation takes on different perspectives. The executive is usually not simply going to another department. In some vertically integrated organizations, for example, where the supplier is actually part of same organization or subsidiary, job rotation might be to the supplier to see how the business operates from the supplier point of view. Learning how the organization is perceived from the outside broadens the executive's outlook on the process of the organization. Or the rotation might be to a foreign office to provide a global perspective. For managers being developed for executive roles, rotation to different functions in the company is regular carried out. This approach allows the manger to operate in diverse roles and understand the different issues that crop up. If someone is to be a corporate leader, they must have this type of training. A recent study indicated that the single most significant factor that leads to leader's achievement was the variety of experiences in different departments, business units, cities, and countries. An organized and helpful way to develop talent for the management or executive level of the organization is job rotation. It is the process of preparing employees at a lower level to replace someone at the next higher level. It is generally done for the designations that are crucial for the effective and efficient functioning of the organization. 2. Job Instruction Technique (JIT): it is a sequence of

instructional procedure used by the trainer to train employees while they work in their assigned job. It is based on skill analysis and learning theory. Its success depends on the ability of the trainer to adapt his own style to the training process. It consists of presentation which is a combination of telling and showing explanation and demonstration. A. Off the job training method There are many management development techniques that an employee can take in off the job. The few popular methods are: 1. Classroom lecture 25

2. Seminar and workshop 3. Role playing 4. Case method 1. Classroom lecture: it is the most widely used method of training. It involves the speaking or presenting information to large number of trainees usually from prepared notes. There are two variation of this method: talk and discussion. Talk involves encouraging trainees to raise question so as to maintain interest in the topic. In discussion, knowledge, ideas and opinions are freely exchanged among the trainees and trainer. Lecture is a mean of telling trainees something. Here, the instructor presents the series of facts, concepts, or principles, and explains relationship. 1. Seminar and workshop: these are organized by educational institutions and

professional bodies. They may also be of great help in training of the business personnel. In this method of training an effort is made to expose participants to concepts and theories. These are aimed at creating an awareness of the knowledge of fundamentals. These are knowledge based method of training. Hence, the focus of seminar and workshop is on transmission of knowledge which has to be imbibed the participants. 2. Role playing: it is the method of training under which participants assume certain

role and enact them spontaneously under classroom conditions. In other word, a simulated situation is created in which trainees act out the roles of certain person assigned to them, such as the quality control inspector, production manager, foreman, etc. this training involves action, doing and practice. This method of training creates better understanding of interpersonal relationship. This helps to acquire skills in interpersonal communication. 3. Case method: the case is an actual situation which is written for the discussion

purpose. Case presents an in-depth description of a particular problem an employee might encounter on the job. Here, the trainee attempts to find and analyze the problem, evaluate alternative course of action, and decide what course of action would be most satisfactory. Discussion of a case may be in groups. Each member is asked to present his analysis, make comment on the analysis by others, and suggest alternative solution. This method aim to develop analytical abilities among the trainees,

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Objectives
The following are the objectives of report: To understand the brief meaning of Training and development.

To know about the needs for providing training.

To understand the different types of training programmes used by company.

To know how the employee skills are developed in the training and its importance.

To find out the problems faced in developing training role.

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To find out benefits of employee training and development.

RESEARCH METHODOLOGY

Title of the study: Analysis of security market Duration of the project: 6 weeks (16-05-11 to 30-06-11) Type of Research: Exploratory Area of Research: Bonanza Portfolio Limited Sample size: 80 Types of sampling: Stratified Sampling Data type: Primary, Secondary Data collection technique: Questionnaire and personal Tool: Interview

Type of Research:
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On the basis of theoretical study a research has many types. All of these are distributed on the nature of research.

Some of these are like:

Descriptive and Analytical Qualitative and Quantitative Conceptual and empirical Applied and fundamental One time research Our research is based on Descriptive, Qualitative and Quantitative research. 1. Descriptive Research:-Descriptive research includes surveys and fact finding enquires of different kinds. The major purpose of descriptive research is description of the state of affairs as it exists at present. Researcher has no control over the variables of this type of research. 2. Qualitative Research:-In our research we need comparison between different stock brokers. So this based on all qualitative data. In short, Qualitative research is especially important in the behavioral sciences where the aim it to discover the under line motives of human behavior. Through such research we can analyses various factors which motivate to people to behave in a particular manner or which make people like or dislike a particular thing. 3. Quantitative research:-Quantitative research is based on the measurement of quantity or amount. It is applicable to phenomena that can be expressed in terms of quantity. So we can use it in our research for collection of all the numerical data. SCOPE OF STUDY: After conducting the research at bonanza portfolio limited branches at jaipur on training and development program, many stages are undertaken as guidance towards appearing at conclusion like interaction with staff, questionnaire survey and analysis . As the questionnaire is targeted to get filled by employees of the bonanza portfolio ltd. so I got the opportunity to know certain facts about the training and development facts and needs. Whatever conclusions I have drawn from this research part are mentioned below: 29

The concept of training has recently become a strategic option in the development of human resources. Consequently, the strategies of development which aim at improving, modernizing and simplifying work methods have been greatly required as a pressing need in all governmental bodies. The modern concept of training provides that training should convey the basic theoretical and practical skills in a way that copes with the latest challenges represented in the ever changing work requirements. The efforts of training should be fundamentally channeled towards the construction and innovation of more efficient methods in planning and following up human resources to achieve the aspired objectives of development more effectively, thus leading to improved performance at work on a continued basis.

LIMITATION OF STUDY The various limitations which are found by me in market are:Lack of awareness of training needs and benefits: - Since the area of training and development is new, it is not that popular among the employees. Mostly people comfortable with traditional approach Most of the employees do not believe in training. They still hold the traditional view that managers are born and not made. There are also some views that training is a very costly affair and not worth. Some respondents are unwilling to talk: - Some respondents either do not have time or willing does not respond, as they are quite annoyed with the phone call. Lake of techno savvy people and poor internet penetration:-Since most of the people are quite experienced and also they are not techno savvy. Also internet penetration is poor in India. Misleading concepts: - Some people think that training is a wastage of time and money. And do not seem to be fruitful.

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Time limitation: As the training and development is a very wide topic and need much time to understand and analyze the facts.

Data Analysis and Interpretation

Training Requirements and Recommendations A high school diploma and bachelor's degree in finance or business administration is required to become a stock broker. On-the-job training programs are often available to aspiring stock brokers, which allow them to gain practical experience and work towards earning the needed professional licenses. With several years of experience, stock brokers are qualified for a variety of brokerage career opportunities. In training programs, stock brokers study securities and commodities sales, federal regulations on investments and how to manage financial portfolios for their clients. Stock brokers must have excellent sales and communication skills in order to find and obtain new clients. Many stock brokers cold call clients and follow up on potential sales leads. Stock brokers must be able to stay abreast of stock market trends and securities and commodities regulations. They must be able to handle stressful financial situations and should have the ability to forecast financial and economic situations using research and financial data. The ability to make quick decisions under extreme pressure is a must. Formal Education Stock brokers typically earn a bachelor's degree in finance or business administration. A finance degree prepares students to work as stock brokers by focusing a student's studies on financial laws and regulations, accounting methods and investment management. Bachelor of Science in Finance 31

With a bachelor's degree in finance, students are able to pursue a career as a stock broker. Students study the principles of economics and currency, financial planning and financial forecasting. Programs require four years of study and commonly include courses on: Financial markets and institutions Financial management Accounting methods Corporate finance Investments and insurance Risk management International finance Securities and commodities

Job Experience Employers prefer to hire stock brokers with 1 - 3 years of brokerage experience. Employers that offer online brokerage services may require one or more years of online brokerage experience. Internships are an ideal way for beginning brokers to gain experience and build their knowledge of the industry. Stock brokers with limited experience can find entry-level positions that provide on-the-job training programs. Stock brokers should have experience in investment management, financial planning, securities sales and customer service. Licenses and Certifications Most investment firms require stock brokers to have a Series 7 and Series 63 (or 66) license. Some employers hire non-licensed stock brokers if they obtain the licenses within several months of employment. To obtain a Series 7 license, stock brokers must have four months of employment experience and must pass the General Securities Registered Representative Examination, which is administered by the Financial Industry Regulatory Authority (FINRA). Brokers must receive a passing score of 70% to obtain Series 7 licensure. To obtain Series 63 or 66 licensure, stock brokers must pass the Uniform Securities Agents State Law Examination, which addresses legal, bookkeeping and client services in securities sales and exchange. Some employers may offer training programs that prepare stock brokers to take the licensure exams. With both licenses, stock brokers demonstrate extensive knowledge of securities sales and financial regulations to employers. Workshops and Seminars

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Employers and universities often hold workshops and seminars for stock brokers and financial advisors. Workshops may be part of on-the-job training or continuing education program. These workshops may be presented by experience stock brokers, financial advisors or financial instructors. Workshops typically cover topics related to financial management, investment analysis, client relations and stock exchange rules and regulations. Additional Professional Development The National Association of Stockbrokers (NAS) is a large professional organization with more than 20,000 members throughout the country. The organization provides conferences, weekly meetings, networking opportunities and continuing education resources. Large corporations and financial institutions often have representatives at NAS meetings, which give members an in-depth look at trends in the industry. The NSA has chapters in 45 cities, so professional development resources are easily accessible to most stock brokers. The different training methods adopted by Bonanza portfolio ltd for its employees are as follows: 1. Technology-Based Learning Common methods of learning via technology include: Basic PC-based programs Interactive multimedia - using a PC-based CD-ROM Interactive video - using a computer in conjunction with a VCR Web-based training programs

The forms of training with technology are almost unlimited. A trainer also gets more of the learners involvement than in any other environment and trainees have the benefit of learning at their own pace. 2. On-The-Job Training Jumping right into work from day one can sometimes be the most effective type of training. Read the manual - a rather boring, but thorough way of gaining knowledge of about a task. Combination of observation, explanation and practice. Trainers go through the job description to explain duties and answer questions. Use the intranet so trainees can post questions concerning their jobs and experts within the company can answer them. On-the-job training gives employees motivation to start the job. Some reports indicate that people learn more efficiently if they learn hands-on, rather than listening to an instructor. However, this method might not be for everyone, as it could be very stressful. 33

3. Coaching/Mentoring Coaching/mentoring gives employees a chance to receive training one-on-one from an experienced professional. This usually takes place after another more formal process has taken place to expand on what trainees have already learned. Here are three examples of coaching/mentoring. Hire professional coaches for managers. Set up a formal mentoring program between senior and junior managers. Implement less formal coaching/mentoring to encourage the more experienced employees to coach the less experienced. Coaching/mentoring gives trainees the chance to ask questions and receive thorough and honest answers - something they might not receive in a classroom with a group of people. 4. Lectures Lectures usually take place in a classroom-format. It seems the only advantage to a lecture is the ability to get a huge amount of information to a lot of people in a short amount of time. It has been said to be the least effective of all training methods. In many cases, lectures contain no form of interaction from the trainer to the trainee and can be quite boring. Studies show that people only retain 20 percent of what they are taught in a lecture. 5. Group Discussions & Tutorials These most likely take place in a classroom where a group of people discuss issues. For example, if an unfamiliar program is to be implemented, a group discussion on the new program would allow employees to ask questions and provide ideas on how the program would work best. A better form of training than lectures, it allows all trainees to discuss issues concerning the new program. It also enables every attendee to voice different ideas and bounce them off one another. 6. Role Playing Role playing allows employees to act out issues that could occur in the workplace. Key skills often touched upon are negotiating and teamwork. A role play could take place between two people simulating an issue that could arise in the workplace. This could occur with a group of people split into pairs, or whereby two people role play in front of the classroom. Role playing can be effective in connecting theory and practice, but may not be popular with people who dont feel comfortable performing in front of a group of people. 34

7. Management Games Management games simulate real-life issues faced in the workplace. They attract all types of trainees including active, practical and reflective employees. Some examples of management games could include: Computer simulations of business situations that managers play. Board games that simulate a business situation. Games surrounding thought and creativity - to help managers find creative ways to solve problems in the workplace, or to implement innovative ideas. 8. Films & Videos Films and videos can be used on their own or in conjunction with other training methods. To be truly effective, training films and videos should be geared towards a specific objective. Only if they are produced effectively, will they keep the trainees attention. They are also effective in stimulating discussion on specific issues after the film or video is finished. Films and videos are good training tools, but have some of the same disadvantages as a lecture - i.e., no interaction from the trainees. A few risks to think about - showing a film or video from an outside source may not touch on issues directly affecting a specific company. Trainees may find the information very interesting but irrelevant to their position in the company. Some trainers like to show videos as a break from another training method, i.e. as a break from a lecture instead of a coffee break. This is not a good idea for two reasons. One: after a long lecture, trainees will usually want a break from any training material, so a training film wouldnt be too popular. Two: using films and videos solely for the purpose of a break could get expensive.

9. Case Studies Case studies provide trainees with a chance to analyze and discuss real workplace issues. They develop analytical and problem-solving skills, and provide practical illustrations of principle or theory. They can also build a strong sense of teamwork as teams struggle together to make sense of a case. All types of issues could be covered - i.e. how to handle a new product launch. 10. Planned Reading 35

Basically planned reading is pre-stage preparation to more formal methods of training. Some trainees need to grasp specific issues before heading into the classroom or the team-building session. Planned reading will provide employees with a better idea of what the issues are, giving them a chance to think of any questions beforehand.

Q1. Do you have any policy that states the organizations philosophy on employee training and development?

(a) 55% of the respondents go with option yes. (b) 33% of the respondents go with option do not know. (c) 10% of the respondents go with option no.

Interpretation: This shows that 10% employees in the company do not have any kind of idea about the training policy of the organization. And 35% are confused that, they have such kind of policies or not. And more than 50% know about the policies. 36

Q2. Do you have any process for assessing the organizations (immediate and future) training needs and individual development needs?

(a) 45% respondent goes with option yes, by human resource department. (b) 25% respondent goes with option yes, by outside consultant. (c) 20% respondent goes with option yes, by each department head. (d) 10% respondent goes with option no.

Interpretation: From the above data we can analyze that human resource department is mainly responsible for the assessment of the training need and individual development needs. Department heads are also provide easy access to the any information regarding the TNA.

Q3. Which following issues you considered in assessing training needs?

(a) 40% of the respondent goes with option job skills and knowledge. (b) 30% of the respondent goes with the option technologies, processes etc. (c) 20% of the respondents go with the option organizational issues. 37

(d) 10% of the respondents go with the option cultural changes.

Interpretation: We can analyze that job skills, knowledge and ability of the employee is the basic reason for the training need. After that new technologies, processes, products, services, market changes and community needs are taken into consideration and organizational issues, such as mission, objectives, cultural changes and customer orientation are taken into consideration at the last.

Q4. Which training is frequently used by your organization?

(a) 50% of the respondents go with the option on the job method. (b) 40% of the respondents go with the option off the job method. (c) 10% of the respondent go with the option both.

Interpretation: We can analyze that employees are mostly given on the job training (like opening the demate account and understanding the market fluctuation) while some are given on the job training where high risk is involved like making online transaction and punching order. And some are given both kinds of the training methods.

Q5. Which of the following training opportunities do you offer?

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(a) 20% of the respondents go with the option leadership training (b) 15% of the respondents go with the option Executive training. (c) 20% of the respondents go with the option technical training. (d) 25% of the respondents go with the option computer training. (e) 5% of the respondents go with the option overseas training. (f) 3% of the respondents go with the option others.

Interpretation: computer based training is given more in the organization and then computer based. Leaders and executives are also chosen for delivering the training session to the employees.

Q6. Are employees permitted pay for time not worked while they attended training seminars outside organization?

(a) 45% of the respondents go with the option yes, with pay (b) 25% of the respondents go with the option yes, without pay. (c) 20% of the respondents go with the option no, only after work. (d) 10% of the respondents go with the option no, only in special cases.

Interpretation: Many employees are paid for the time during which employees undergo training session outside the organization. While some are permitted to go only after work hours. And in special cases permission is given along with the pay.

Q7. What is the minimum training length per year? 39

(a) 15% of the respondents go with the option upto 8 hrs. (b) 20% of the respondents go with the option 9 to 24 hrs. (c) 40% of the respondents go with the option 25 to 40 hrs. (d) 25% of the respondents go with the option over 40 hrs.

Interpretation: this shows that organization spend average time on the training program. This is a good amount of time in which employees can learn the new things and can refresh the older ones.

Q8. Do you have any training institute of your own?

(a) 90% of the respondents go with the option yes (b) 10% of the respondents go with the option no.

Interpretation: this shows that company does not have its own training institute for employee training and development program.

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Q9. Do you hire trainer from outside of the organization?

(a) 65% of the respondents go with the option yes (b) 35% of the respondents go with the option no.

Interpretation: for most of the time organization provide trainer from within the organization, while for some big issues the trainer is hired from the outside, this may be because of high specialization involved in the topic to be covered under training.

Q10. How often your company conducted training program in year?

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(a) 50% of the respondents go with the option yearly (b) 30% of the respondents go with the option whenever required (c) 15% of the respondents go with the option monthly. (d) 5% of the respondents go with the option weekly. Interpretation: most of the training programs are conducted yearly and as per the requirement according to the training need assessment. Weekly programs are kept for the market analysis.

Q11. How much employee you arrange for training program at a time? ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Q12. During the training period, what types of facility program you have?

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Interpretation: Meal is provided in most of the training program while transportation and accommodation facility are not provided that frequently.

Q13. Common format of your training programs includes:

(a) 40% of the respondents go with the option workshop. (b) 25% of the respondents go with the option classes (c) 30% of the respondents go with the option online. (d) 5% of the respondents go with the option others.

Interpretation: workshop method is common among the other methods of training. After that online and classroom lectures are preferred for providing training Q14. Topics that emphasized in the training program?

(a) 7% of the respondents go with the option leadership development. (b) 5% of the respondents go with the option performance management. (c) 6% of the respondents go with the option problem solving. (d) 25% of the respondents go with the option communication. (e) 10% of the respondents go with the option team building. (f) 9% of the respondents go with the option negotiation. (g) 3% of the respondents go with the option audit and corporate CSR. (h) 30% of the respondents go with the option customer handling etiquette. (i) 6% of the respondents go with the option other

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Interpretation: training is provided in all dimensions to make their human resource competent and core competency so as to face the competition and achieve the organizational goals.

Q15. How do you analyze the after training benefits? Q16. Your work experience in the company.

(a) 56% of the respondents go with option 0-5 years (b) 25 % of the respondents go with option 5-10 years (c) 15% of the respondents go with option 10-15 years (d) 4% of the respondents go with option above 15 years

Interpretation:

This shows that 56% of the employees are working in the organization since 0-5 years, 25% from 5-10 years and 15% have 10-15 years of experience with company and 4% are working since more than 15 years.

Q17. Are you satisfied with the recognition you get from the management you work?

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(a) 45% of the respondents are highly satisfied (b) 30% of the respondents are satisfied (c) 20% of the respondents are dissatisfied (d) 5% of the respondents are highly dissatisfied

Interpretation: 45% of the respondents say that they are highly satisfied with the recognition they get from the company, 30% say that they are only satisfied and 20% go with option that they are dissatisfied and 5% respondents are highly dissatisfied.

Q18. Employees are given appraisal in order to motivate them to attend the training. Do you agree with this statement?

a) 40% of the respondents go with the option strongly agree b) 25% of the respondents go with the option agree c) 20% of the respondents go with option somewhat agree d) 10% of the respondents go with option disagree e) 5% of the respondents go with option strongly disagree

Interpretation: 45

40% of the respondents say that they strongly agree that appraisal are given to motivate them for training, 25% say that they only agree, 20% say that they will go with option somewhat agree, 10% say that they disagree with the statement and 5% say that they strongly disagree.

Q19. Dose training covers the current requirements of the organization?

a) 50% of the respondents go with option yes b) 30% of the respondents go with the option no c) 20% of the respondents go with the option to some extent.

Interpretation: 50% of the employees say that the training program covers the current requirement of the organization, 30% say that no it does not and 20% say that it covers the current requirement to some extent.

Q20. Aim of the training is to make the employees more competent to the assigned job.

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a) 60% of the respondents choose the option yes. b) 40% of the respondents chose the option no.

Interpretation: 60% of the employees say that training is given to make the employees to make them competent to the assigned job, while 40% do not agree with the statement.

Q21. Training program is evaluated by whom?

a) 15% of the respondents go with the option top management b) 20% of the respondents go with the potion general manager c) 40% of the respondents go with the option trainer d) 25% of the respondents go with the option supervisor

Interpretation: 15% of the employees say that top management evaluate their performance, 20%go with the option general manager, while 40% say that the evaluation os done by the trainer and 25% say that the evaluation is done by the supervisor.

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SWOT Analysis
Strengths No annual maintenance charges for their online broking services. Diverse portfolio and a lot of product under one roof It has one of the best & attractive brokerage plan Relation manager attached the customer Equity research team (one of the best in the market) Cost effective Convenient Security key Goodwill

Weakness It has changed its name from forts to Bonanza Portfolio where the maximum customer doesnt know about it. Poor knowledge of customer care. Non performing website as reported by customer

Opportunities Bonanza Portfolio securities surviving in cut throat competition. The brokerage rates offered by Bonanza Portfolio securities are far lower than those offered by competitors. With 0.30% on delivery based transactions and 0.03% on intraday transactions, there is no way that smaller brokerage firms can compete with Reliance Money. Consumers can trade equities and commodities and invest in IPOs, mutual funds, insurance another financial product from a common platform. 48

 Financial service sector in India is growing by leaps and bound Threats Poor customer retention Though competition from ICICI Direct, India bulls, Indiainfoline, Anandrathi, sherkhan etc.

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Conclusion:
The following conclusion is derived from the report: Training is the process in which trainees are trained by the trainers so as to face the

challenges and competition in the market. Selecting the right training programmes is major step in training process. This can be done with the help of the training need assessment. Preparation of training calendars is done so that it can be conducted on time and as

per the schedule. This will help in conducting a well managed and well scheduled training program which would be interesting for the participants. Finalizing the training programme and sending the information to the concerned

employees who will be getting the training. Deliver course and validate training Internet technology is the key to a profound in lerarning.

Training helps in enhancing the qualities of the employees and coping the challenges. Bonanza portfolio ltd is providing good training program in some areas to its

employees but lack in some of the areas. Bonanza portfolio conduct training need assessment before starting any training

program for the employees as it identifies the actual training needs.

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Suggestions
Determining training needs through job description, performance appraisal forms and potential appraisal discussions. Prepare a training calendar in discussion with managers. Training programme should be well defined with specific objectives. Nominate the employees for training based on a need for training. Trainers should be qualified and experienced and preferably internal . Thrust in future should be on developing people skills and not only functional skills. Computer applications should be a key focus area. Many trainees are not satisfied with performance because most of the times, trainees are involved in many programmes. They should be given one training at a time as it will help them to concentrate in the learning.

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