A STUDY ON THE ROLE OF CUSTOMER SERVICE IN SECURITY MARKET AT GROWW PVT.

LTD

A Project Report
On
“A STUDY ON THE ROLE OF CUSTOMER SERVICE IN
SECURITY MARKET AT GROWW PVT. LTD.”

Submitted to fulfilment of the requirements for the award of the degree of

BACHELOR OF BUSINESS ADMINISTRATION

Submitted by
Sahil Kumar
(R22MB282)

Under the guidance of

Prof. Archana TA
ASSISTANT PROFESSOR

Rukmini Knowledge park, Yelahanka, Bengaluru-560064

[Link]

JULY-2025

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LIST OF GRAPH

SR NO. GRAPH NAME PAGE NO.

1 INTRODUCTION 1-8
2 COMPANY PROFILE 9-13
3 RESEARCH 34-41
METHODOLOGY
4 DATA ANALYSIS AND 42-56
INTERPRETATION

5 FINDINGS AND 57-60

SUGGESTION

ANNEXURE

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LIST OF GRAPHS
SR NO. TABLE NAME PAGE NO.

1 GROWW CHARGES 21
2 GROWW MF CUTOFF TIME 23

3 BROKERAGE FEES 27

4 F&O CHARGES 30-31

5 GENDER TABLE 42

6 AGE GROUP 43
7 OPINION ABOUT SHARES 44
8 GROWW INTERACTION 45
9 FREQUENT 47
INVESTMENTMENT
10 DISSATISFIED WITH 48
SERVICES
11 SATISFIED WITH CHARGES 50
12 SATISFIED WITH BTST 52
13 VIEW ON MARKET 53
14 SATISFIED WITH OVERALL 54
SERVICES

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EXECUTIVE SUMMARY
Groww is an online investment platform based in India that has disrupted the traditional
investment landscape by leveraging technology and innovation to empower retail investors.
The platform offers a wide range of investment options, including mutual funds, stocks, gold,
and more, and provides features and services that simplify investing and make it accessible to
a wider audience.
This report provides an overview of Groww Mutual Fund, including its history, services, key
features, and performance analysis of its mutual fund schemes. The report highlights the
background of Groww Mutual Fund as an online investment platform in India, discussing its
founding, growth, and position in the market. It also outlines the company's vision, mission,
and key objectives, which revolve around making investing easy, transparent, and customer
centric.
The report discusses the key features of mutual fund schemes offered by Groww, including the
variety of fund categories available, the investment process, minimum investment amounts,
expense ratios, and other relevant details. It also explores how Groww leverages technology to
provide a seamless and user-friendly experience to investors, such as through its mobile
application, portfolio tracking, goal-based investing, and customer support.
The report also delves into the performance analysis of mutual fund schemes offered by
Groww, including historical performance data, risk metrics, portfolio holdings, and expense
ratios. It assesses the performance of mutual fund schemes based on various parameters such
as returns, risk-adjusted returns, portfolio diversification, and expense ratios, comparing them
to industry benchmarks and peer funds.
Additionally, the report briefly discusses the competitive landscape of the mutual fund industry
in India, highlighting the competitors of Groww Mutual Fund, and their key offerings. It also
identifies potential challenges and opportunities for Groww Mutual Fund in the market.

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CHAPTER – 01
INTRODUCTION

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1.1 GROWW - NEXTBILLION TECHNOLOGY PRIVATE LIMITED

The project aims to analyze the impact of technology in empowering investors by researching
Groww, India's leading online investment platform. The project will highlight the features and
services offered by Groww and how technology can play an important role in providing users
with a good and simple trading experience. The program will also address the innovations and
innovations offered by Groww using technology to stay ahead of the online investment
competition.

Groww is an online investment platform launched in April 2016 by four partners Lalit Keshre,
Harsh Jain, Neeraj Singh, and Ishan Bansal. The platform aims to make it accessible to millions
of Indians by simplifying the process of investing in stocks, stocks, and other investment
options.

Groww quickly gained popularity thanks to its user-friendly interface, zero commission model,
and innovative features. The founder of Groww, with previous experience in the creation and
development of start-ups, identified a modern investment need that could meet the needs of
male Indian businesses. They believe that investing should be simple, transparent, and
accessible to everyone, regardless of their financial experience or background. With this vision,
they started Groww for independent investment in India.

Groww started as an online platform for investing in the stock market as it was considered an
investment option in India.

The platform offers a wide range of mutual funds from various asset management companies
(AMCs) and users can invest directly in mutual funds without a personal intermediary. This
eliminates the complexity and costs associated with traditional investments, making it easy for
users to start investing in their smartphones with a few taps.

Groww grew in popularity among Indian investors, the platform quickly expanded its offerings.
Groww launched direct investment in 2018 that allows users to invest in Indian companies.
These features allow users to diversify their data and participate in the Indian market.

In addition to mutual funds and stocks, Groww has also offered other investment opportunities
in real-time. In 2019, the platform added investment options such as digital funds and national

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bonds, offering users more options and diversifying their investments according to their financial
targets and risks.

1.2 MEANING OF CUSTOMER SERVICE

A customer service representative is the professional responsible for communicating how and
why service expectations are communicated in a company. These professionals perform a
variety of tasks, such as answering the phone, answering customer questions, and helping
resolve customer issues. They are often responsible for frontline operations that directly affect
the organization's customers. They may also lead a customer service team and teach them how
to resolve customer queries.

They work in a variety of industries, although some customer service jobs are for newcomers.
These include call centers, accommodation, technology, finance, and even education.

Service workers in travel, call centers, stores, and other businesses work directly with
customers, helping them with their purchases, answering their questions, and finding solutions.
In some organizations, customer service workers have higher responsibilities. These include
training new employees and supervising the customer service team. They can also share best
practices on how to handle and retain different types of customers.

1.3 OBJECTIVES OF CUSTOMER SERVICE

The main purpose of customer service is to answer customer questions quickly and efficiently,
solve problems with understanding and care, write down the trouble spots to join internal
groups, strengthen relationships, and develop brand trust. Good customer service can keep
people loyal to your brand, products, and services for years.

1. Become a Brand Ambassador

All your members, from salespeople to call centers, are your first and most important brand
ambassadors. As the most public face of your organization, their job is to help customers
understand how good your product or service is and encourage them to stay loyal to your brand.
When it comes to building your customer base, your company can win if your customer service
team works on your customer's input (rather than pushing the button). For example, let's say
your business sells food. When a customer calls your customer service team to ask about a

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particular dish, the representative will initiate a conversation with the customer by saying the
name of their favorite dish and providing a suggested explanation based on customer
preferences.

2. Customer Development

It is easier to retain existing customers than to acquire new customers. There are many ways to
increase customer loyalty. However, the fastest way to lose trust is through poor customer
service. Wherever customers interact with your business for the first time – on your website,
in person, or on social media – the first interaction should show that your brand is trading for
customers. Any subsequent discussion should continue this support and cooperation. You can
measure customer loyalty by tracking how many customers buy from your company daily. You
can also consider offering upgrades or fare discounts and tracking them down.

3. Timely and fast resolution of problems

No company is immune from customer frustration. But the best way to ensure that customers
stay with you and continue to praise your company when complaints arise is to respond quickly
to customers and find solutions to their needs quickly. The combination will be different for
everyone, but the idea is to respond to customer complaints as soon as possible with what they
find useful. A good example is a software company that does not support the product the
customer is trying to solve a problem with. A customer service representative spends some
time understanding the customer's needs before introducing a different product and explaining
why it works. One way to measure progress is to look at the average resolution time. To
measure, divide the total resolution time of each ticket solution by the total number of
resolution tickets.

4. Eliminate the causes of customer dissatisfaction

Customer satisfaction is higher when customers have fewer problems. If your goal is to
eliminate potential problems, you should identify them first. This means finding ways to get
closer to your customers and understand how they use your product or service. This can help
you improve your product and therefore the customer experience. A great way to get closer to
your customers is to use customer surveys to find out what they like about your product or

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service and what features they'd like to see better. Some companies even allow customers to
contact them with suggestions for improvement, rather than just complaining about problems.

5. Improve Customer Service

This may seem surprising, but when a customer has a question and calls customer service, it's
a good time to improve used goods customer service. Because if you can finally find satisfied
customers, they will feel valued and want to be with you. They can also share their happiness
with others by word of mouth.

Being friendly, listening to and paying attention to their needs, and offering special programs
or donations for their problems can be several ways to make this change happen. Another way
to increase customer satisfaction is customer loyalty. In fact, improving your personal service
options can go a long way in resolving customer issues quickly.

Types of customer service channels

The importance of providing excellent customer support has undeniably never been greater
than in today’s consumer-driven world. Companies can communicate with their customers
through a variety of service channels; let’s talk about some of them:

1. Phone –

Most businesses consider telephone support to be a main support offering. Customers can
contact the company’s customer service hotline and speak with a representative who can
assist them with their questions or problems. It is a popular option for customers who prefer
to speak with a live person.

To enhance user satisfaction, representatives should constantly speak positively on the

phone.

2. Live Chat-

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Live chat support has become a more common feature on business websites recently. It
is not only gaining popularity, but it is also a very appealing support option in the eyes
of customers. Customers who do not want to wait on hold on the phone frequently
prefer this channel.
Enabling image uploads in live chat support makes communication easier and helps
agents diagnose and fix issues.

3. Email-
Email support is slower than live chat and phone support, so it takes longer to address
issues. Email support is ideal for busy people who do not have time for a lengthy
conversation with a support representative and prefer to read their emails when
convenient.
Remember that most customers prefer casual email support. When delivering bad news,
a more formal tone is usually better.

4. Social Media –
Social media platforms such as Twitter, Facebook, and Instagram have become popular
as customer service channels. Customers can contact a company through direct
messages or public posts, and the company’s social media team can provide the
necessary support or assistance.
Creating dedicated social media support accounts is helpful depending on your business
and customer base.

5. Video chat –
Video chat facilitates video calls between customers and customer service agents. This
channel can be very beneficial for communicating visually about difficult subjects.
Due to privacy concerns, some customers may hesitate to let the agent view through
their device’s camera. Reassure your customer that the process is secure, and that the
camera feed is disconnected after the support session.

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6. Self-Service –
Self-service channels are increasingly popular since customers frequently choose to
solve their problems or discover answers to their questions independently. This channel
can come in many shapes, including interactive chatbots, video tutorials, online
knowledge bases, and FAQs.
Businesses that invest in self-service should expect more customers to solve problems
independently, reducing support costs and ticket volumes. Companies must ensure their
resources are helpful, relevant, trustworthy, and easy to find to offer excellent customer
service.

1.4 MEANING OF STOCK MARKET

The term stock market refers to various exchanges where listed companies are traded. Such
financial transactions are carried out through exchanges and over the counter (OTC)
transactions that operate under certain rules.

"Business" and "Exchange" are often used interchangeably. Businesses buy and sell stocks on
one or more exchanges as part of the overall stock market. Stock exchanges in the US include
the New York Stock Exchange (NYSE) and NASDAQ.

The market provides a safe and regulated environment where business participants can safely
buy and sell stocks and other financial instruments with zero or minimal risk. The retail market,
which operates according to the rules set by the regulator, as the primary and secondary market.
As a core business, the stock market allows companies to introduce and sell their products to
the public for the first time through the IPO process. This action helps the company raise the
necessary funds from investors.

SIGNIFICANT OF STOCK MARKET

The market is an important part of the free market economy. It allows companies to raise capital
by issuing stocks and shares and allows investors to participate in the company's financial
results, monetize investment income, and monetize revenue. The stock market acts as a
platform where savings and personal investments can be converted into productive assets and
contribute to the capital formation and economic growth of the country.

1.5 FUNCTION OF THE STOCK MARKET

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1. Economic Barometer- A stock exchange is a reliable barometer to measure the

economic condition of a country. Every major change in the country and economy is reflected
in the prices of shares. The rise or fall the share prices indicates the boom or recession cycle of
the economy. The stock exchange is also known as a pulse of the economy or economic mirror
which reflects the economic conditions of a country.

2. Pricing of Securities - The stock market helps to value the securities based on demand
and supply factors. The securities of profitable and growth-oriented companies are valued
higher as there is more demand for such securities. The valuation of securities is useful for
investors, the government, and creditors. The investors can know the value of their investment,
the creditors can value the creditworthiness, and the government can impose taxes on the value
of securities.

3. Safety of Transactions - In the stock market only the listed securities are traded, and
stock exchange authorities include the company's names in the trade list only after verifying
the soundness of the company. The companies which are listed also must operate within strict
rules and regulations. This ensures the safety of dealing through the stock exchange.

4. Contributes to Economic Growth - In stock exchange securities of various

companies are bought and sold. This process of disinvestment and reinvestment helps to invest
in the most productive investment proposal, and this leads to capital formation and economic
growth.

5. Liquidity- The main function of the stock market is to provide a ready market for the sale
and purchase of securities. The presence of the stock exchange market gives assurance to
investors that their investments can be converted into cash whenever they want. Investors can
invest in long-term investment projects without any hesitation, as because of the stock
exchange they can convert long-term investments into short-term and medium-term.

1.6 MAJOR STOCK EXCHANGES IN INDIA

There are two major types of Stock Exchanges in India, namely the: -

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Bombay Stock Exchange (BSE): BSE is located at Dalal Street, Mumbai. It is the oldest
and the first stock exchange in Asia. It was established in 1875 and was formerly known by the
name of –The Native Share & Stockbrokers Association.

In 1986, Sensex was introduced as the first equity index. This is to provide a base for
identifying the top 30 trading companies of the exchange in more than 10 sectors.

Apart from Sensex, other important indices of the Bombay Stock Exchange include BSE 100,
BSE 200, BSE 500, BSE MIDCAP, BSE SMLCAP, BSE PSU, BSE Auto, BSE Pharma, BSE
FMCG, and BSE Metal. As of October 19, 2021, BSE has an overall market capitalization of
over Rs 118.80 crore. It ranks amongst the 10 most valued exchanges globally. BSE also came
out with an IPO and is listed in NSE. Its product offerings include equities, equity derivatives,
commodities, and currency derivatives.

National Stock Exchange (NSE): While NSE is young when compared to BSE, it is
still one of the largest exchanges in the country. NSE came into the picture in the year 1992
with Vikram Limaye as its CEO. It was recognized as a stock exchange by SEBI in 1993 and
commenced operations in 1994. It started with the launch of the wholesale debt market, shortly
followed by the launch of the cash market segment.

In the year 1995-96, NSE launched the NIFTY 50 Index and commenced trading and settlement
in dematerialized securities. Nifty lists the top 50 companies which traded on the NSE stock
exchange market.

Apart from Nifty, other key indices of NSE include Nifty Next50, Nifty500, Nifty Midcap150,
Nifty Smallcap250 and Nifty Mid Small cap 400.

The National Stock Exchange expanded its product offerings as well. Among other services
such as clearing and settlement, it also offers equity and equity derivatives instruments,
commodities, and currency derivatives.

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 CHAPTER – 02
INDUSTRY AND COMPANY
PROFILE
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2.1 INDUSTRY PROFILE

2.1.1 Background and Inception of the Company: -
Groww is an investment platform based in Bangalore, India. It was founded by Lalit Keshre,
Harsh Jain, Neeraj Singh, and Ishan Bansal in May 2017. The founders are all former
employees of Flipkart who founded Groww after noting the need for a simplistic, intuitive
investment platform in India. Groww began as a direct mutual fund distribution platform. In
2020, the company began offering access to stocks, digital gold, exchange-traded funds (ETFs),
Intraday trading, and initial public offerings (IPOs). As of 2021, Groww has over 1.5 crore (15
million) registered users in 900 cities.

Groww's user interface has a simple design to make it easier for its users, who are largely
millennials, to understand the world of investing. Groww offers zero-commission investing in
direct mutual funds as well as one of the lowest brokerage charge rates for stock investing in
India. Users can invest in mutual funds, including systematic investment planning (SIP) and
equity-linked savings. Every fund currently available in India is available on Groww. The
platform also provides access to digital gold, stocks (including ones based in the United States),
futures, and options. In January 2022, Groww partnered with IDFC First Bank to offer credit
lines to select users. The company plans to eventually enter the fields of insurance and net
banking.

Groww is an investing platform where users can find the best mutual funds to invest in and can
invest their money without any hassles. Groww, part of Next Billion Technology, is an
upcoming fintech company aimed at consumer finance management. Users log in through the
web or app to manage their personal finance with a view to savings. It invests users' savings in
a safe portfolio. Users can withdraw money whenever they want.

Legal Name: Next Billion Technology Pvt Ltd

Headquarters: Bangalore, Karnataka, India

Founding Date: 2016

No. of Employees: 501 to 1000

Core Team: 1. Lalit Keshre & Co-Founder & CEO

2. Harsh Jain & Co-Founder & COO

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3. Ishan Bansal & Co-Founder

4. Neeraj Singh & Co-Founder

Inception and Early Days (2016-2017):

Groww was founded in April 2016 with the vision of making investing simple and accessible
to millions of Indians. The company started as an online platform for investing in mutual funds,
with an aim to eliminate the complexities associated with traditional investment methods. The
founders, who had previous experience in building and scaling startups, launched Groww with
the goal of providing a user-friendly platform that would empower Indians to start investing
with ease.

Rapid Growth and Expansion (2018-2019):

Groww quickly gained traction among Indian investors due to its intuitive platform, zero-
commission model, and wide range of mutual fund options. Within a short span of time, Groww
witnessed rapid growth and expanded its offerings. In 2018, Groww introduced direct stock
investing, allowing users to invest in stocks of Indian companies. The company also launched
its own in-house mutual fund schemes, known as "Groww Direct Mutual Funds", which offered
lower expense ratios compared to regular mutual funds.

In 2019, Groww further expanded its services by introducing investment options in digital gold
and government bonds, making it a one-stop for various investment needs. The company also
raised significant funding from investors to support its expansion plans and enhance its
technology infrastructure.

Enhancements and Innovations (2020-2021):

In 2020, Groww introduced a host of new features and innovations to enhance the user
experience. The company launched features like "Stock SIP" which allowed users to invest in
stocks periodically, and "Super Saver" which enabled users to save on taxes by investing in
tax-saving mutual funds. Groww also introduced a "Smart Save" feature which helped users
park their surplus funds in liquid mutual funds to earn higher returns compared to regular
savings accounts.

In 2021, Groww continued to focus on expanding its offerings and user base. The company
launched a unique feature called "Groww Coins" which allowed users to invest in initial public

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offerings (IPOs) of Indian companies directly through the platform. Groww also expanded its
services to include investments in US stocks and exchange-traded funds (ETFs), making it one
of the few Indian investment platforms to offer such options.

Current Phase:

As of 2023, Groww has emerged as one of the leading investment platforms in India, with
millions of users and billions of assets under management (AUM). The company continues to
innovate and expand its offerings, with a focus on providing a seamless investing experience
to its users. Groww's user-friendly interface, low-cost investment options, and innovative
features have made it a preferred choice among Indian investors who seek a modern and
convenient way to invest in financial markets.

2.1.2 Groww’s History

Based on their own experience and that of their friends and acquaintances, the founders felt
that the process of investing in financial products in India is too complex and opaque. There
are close to 200 million people with investable income in India, while only 20 million actively
invest. The only way to bring the next 180 million on board is by making investing simple.
Groww aimed to provide the necessary information, resources, and user experience for people
to start investing in the simplest way possible.

Initially, the founding team took a lot of time to understand the market and identify the users’
fundamental pain points. They also had to do a lot of experiments to figure out the right user
experience. Also, because the user’s hard-earned money was at stake, they had to ship a safe
and secure product, and that took them some time to build.

In 2017, Groww started as a direct mutual fund distribution platform and within a year became
one of the most popular mutual fund investment platforms in the country. Following user
demand, Groww added stocks in the early half of 2020 and the same year launched digital gold,
ETFs, Intraday trading, and IPOs in quick succession. Today, more than 1.5 crore users across
900+ cities across India trust Groww for their investment needs.

SIPs and equity-linked savings are two ways Groww members can invest in mutual funds. The
company claims to have over 20 million registered users, the majority of whom are under the
age of 40 and prefer to utilize their phones. It provides over 5,000 mutual funds that may be
invested in directly through its website and app, both of which are available on iOS and
Android. It has a transparent pricing structure with low trading costs. There are no hidden costs
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when investing in a mutual fund. Groww does not charge an account setup or monthly
maintenance fee.

Furthermore, with Groww’s direct mutual fund plan, you may earn an extra 1.5 percent. Groww
provides stock market essentials and updates to help investors make smarter selections through
E-books, Resources, and Blogs. It is incredibly simple to open a paperless account. You can
apply for an IPO online if you wish to participate in the primary market. The program includes
a Brokerage Calculator.

2.1.3 Groww’s Founders

Groww was established in 2016 by four former Flipkart workers, Lalit Keshre, Harsh Jain,
Neeraj Singh, and Ishan Bansal, with the goal of making investing more accessible to young
people by simplifying the process. Most millennials favor the DIY (Do It Yourself) approach,
in which individual investors create and manage their own investment portfolios.

Lalit Keshre – Co-founder & CEO

Lalit is the CEO of Groww. Lalit looks after all the aspects of
the business, predominantly the product and customer
experience at Groww. Before starting Groww, Lalit was in a
senior product management role at Flipkart, where he launched
and led Flipkart Quick and helped launch Flipkart
Marketplace. Earlier, Lalit founded an online learning
company called Eduflix, and he has also been an early team
member at Ittiam Systems. Lalit is an alumnus of IIT Bombay.

Harsh Jain-CO-founder & COO.

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Harsh Jain heads Growth and Business at Groww. Before Groww, Harsh was part of the
product management team at Flipkart. Previously, Harsh had co-founded a story-telling start-
up. Harsh holds a B-Tech in Electrical Engineering and a master’s in information and
communication Engineering from IIT Delhi. He studied for his MBA in product management
and marketing from UCLA School of Management.

Neeraj Singh – Co-founder & CTO

Neeraj heads product development and customer research at Groww. A passionate engineer,
solution developer, and coder, Neeraj was with Flipkart as an engineering manager and built
the Flipkart customer returns and refund system before starting Groww. Neeraj holds a BE

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degree in Information Technology from ITM, Gwalior and, a PG Diploma in Advanced

Computing from CDAC.

Ishan Bansal – Co-founder & CFO

Ishan heads Finance at Groww. Earlier, Ishan worked at Flipkart in the corporate development
domain. He has also handled corporate development and M&A at Naspers. Ishan graduated
from BITS Pilani, holds an MBA in Finance from XLRI, Jamshedpur and is a CFA charter
holder.

2.1.4 How has it started?

The founder of the company saw the changes in e-commerce during his tenure at Flipkart and
decided that investment was the next big opportunity. Growth in e-commerce means a medium
level of income and skill, and this is when creators realize that people have a lot of money and
need help to put it to good use.

When the founding team began exploring financing options in India for interested customers,
they spent a lot of time researching the market and identifying users' pain points. They need to
run lots of tests to determine the best user experience. Hard-earned users are also affected.
Therefore, they need to provide safe and reliable solutions that will take some time to develop.

Launched as a direct affiliate marketer in 2016, Groww has grown to become one of the most
popular affiliate markets in the country. Groww launched the product in early 2020 in response

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to customer demand and has completed digital gold, ETF, intraday trading, and IPOs in the
coming years.

2.1.5 Business Model

Groww charges a small fee but is paid by the bank, not the customer. They make a profit from
the money they sell, but the process is complex.

First, there are two mutually exclusive types of investment: regular investment and direct
investment. Distributors will appear in normal mode, and you will have to pay commissions to
distributors. Income is designed to reward you for your investments and income.

Groww, on the other hand, expands its customers' options by gathering many funds and
companies on a single platform, providing direct investments in many funds and companies.
The number one priority of fintech companies like Groww is to grow their customer base.
Groww reduces operating costs by using technology to reach the right audience. People rarely
act on these apps. So, if you create the right customers, they will most likely stay with you for
a long time.

Groww's advanced technology enables clients to invest in mutual funds and products anywhere
in the world. You can become a stock or mutual fund investor with a few mouse clicks.

2.1.6 Revenue and Growth

Groww is one of several startups that have piqued the curiosity of investors. Earnings climbed
by 4.7 times to a little more than INR 1 crore in FY20, up from INR 20.14 lakhs in FY19.
Operating revenue rose 3.25 times to INR 52.05 lakhs, with financial assets contributing INR
48.24 lakhs more.

In addition, the company’s operational sales increased in FY21, reaching INR 52.71 crores in
consolidated operating revenues. The brokerage and allied services provided by the firm
generated around INR 34.3 crore in revenue, which was followed by income from its tech
platform charges and other operational revenue, which generated Rs 12.7 crore and INR 5.71
crore in revenue, respectively. The company’s expenditure also increased in lockstep, bringing
the total expenditure to INR 155.66 crore. According to the company’s financials at the unit
level, Groww earned Re 1 of operational revenue while spending INR 2.95 during FY21.

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Although the Y Combinator-backed company’s earnings have increased, it is still behind

startups like Zerodha and Upstox, which have earnings of INR 1,094 crore and INR 148 crore,
respectively. In FY20, Groww earned INR 1 crore, whereas ET Money earned INR 2.24 crore.

Groww is rapidly increasing and attained unicorn status in April 2021. The firm secured a $83
million Series D fundraising round sponsored by Tiger Global Management, allowing it to
become a unicorn startup.

Some other growth insights of the brand can be compiled as:

● Groww boasts that it has over 20 million registered users.

● Nearly $400 million has been invested in the platform.
● Groww is a one-of-a-kind firm that has seen it’s worth more than tenfold increase (from
$250-300 million to $3 billion) in just over a year in India.
● Groww’s main competitor is Upstox, which just rose a fresh round at a valuation of
roughly $3.4 billion.

2.1.7 Funding and Investors

Groww has raised around $393 million in 7 investment rounds so far. On October 24, 2021,
the firm secured around $251 million in its Series E fundraising round.

DISCOUNT BROKERAGE

Groww is a Bangalore-based broker offering online flat fee discount brokerage services to
invest in Equity, IPO, and Direct Mutual Funds. Groww is the brand name for Next billion
Technology Private Limited which is a SEBI-registered stockbroker and a member of NSE and
BSE.

Established in 2016, Groww initially started as a direct mutual fund investment platform. In
the mid-2020s, Groww expanded its product offering to include Equity trading. The company
also offers Digital gold, US Stocks, and Fixed Deposit as other investment options for its
customers.

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Groww charges a lower of Rs 20 or 0.05% per executed trade. You pay a max of Rs 20 as the
brokerage for an order irrespective of any quantity or amount. Groww offers Free Mutual Fund
services with no charges for investing or redemption of mutual funds.

Groww has its own trading platform called Groww (web and mobile trading app) that offers a
seamless trading experience to its investors. It is a safe and secure app with 128-bit encryption.
Groww is one of India's fastest-growing platforms with a strong customer base of 90+ lakh
users as of Nov 2020. It is also one of the highest-rated Apps (4.5+) in the Google Play Store
and App Store.

Groww is an online broker. Unlike full-service brokers, it does not offer any tips,
recommendations, or research services. Groww has free eBooks, informative and educative
blogs, and resources to help investors/beginners learn the basics of stock market trading and
investment that can assist them to make an informed investment decision.

2.1.8 SEBI

Securities Exchange Board of India (SEBI) was set up in 1988 to regulate the functions of
the securities market. SEBI promotes orderly and healthy development in the stock market but
initially, SEBI was not able to exercise complete control over the stock market transactions. It
was left as a watchdog to observe the activities but was found ineffective in regulating and
controlling them. As a result, in May 1992, SEBI was granted legal status. SEBI is a body
corporate having a separate legal existence and perpetual succession.

Reasons for the Establishment of SEBI

with the growth in the dealings of stock markets, a lot of malpractices also started in stock
markets such as price rigging, the unofficial premium on new issues, delays in delivery of
shares, and violation of rules and regulations of stock exchange and listing requirements. Due
to these malpractices, the customers started losing confidence and faith in the stock exchange.
So, the government of India decided to set up an agency or regulatory body known as the
Securities Exchange Board of India (SEBI).

Purpose and Role of SEBI

SEBI was set up with the main purpose of keeping a check on malpractices and protecting the
interest of investors. It was set up to meet the needs of three groups:

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1. Issuers- For issuers, it provides a marketplace in which they can raise finance fairly and
easily.

2. Investors- For investors, it provides protection and the supply of accurate and correct
information.

3. Intermediaries- For intermediaries, provide a competitive professional market.

2.1.9 Objectives of SEBI:

The overall objectives of SEBI are to protect the interest of investors and to promote the
development of the stock exchange and regulate the activities of the stock market. The
objectives of SEBI are:

1. To regulate the activities of the stock exchange.

2. To protect the rights of investors and ensure the safety of their investments.

3. To prevent fraud and malpractice by having a balance between self-regulation of business

and its statutory regulations.

4. To regulate and develop a code of conduct for intermediaries such as brokers, underwriters,
etc.

2.2 COMPANY PROFILE

2.2.1 MUTUAL FUND

Mutual funds are pooled investments that pool money together from many investors to invest
in various asset classes. A mutual fund can be a corporation's pension plan or an employee-
owned company's savings plan, or it can be managed by an individual or family.

Mutual funds are an important part of the financial services industry in India. They provide a
wide range of investment products to retail investors who want to invest their money with
professional management teams and low-cost index funds. They also provide a low-risk way
for institutional investors to create new products or add flexibility to existing portfolios.

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In the past few years, India has seen an explosion of growth in the mutual fund industry. This
growth is primarily due to the growing population and increasing wealth of the country. Money
invested in mutual funds becomes a source of income for people who cannot work for
themselves. This has led to a rise in the number of people willing to invest their money in
mutual funds.

In addition, it has also led to an increase in the number of people who want to invest their
money in mutual funds but do not have enough savings or retirement plans set up yet. This
means that they need help with investing their money so that they can get started with building
an investment portfolio early on rather than waiting until later in life when they might not be
able to afford it anymore.

The Indian mutual fund industry has changed significantly over the past few years because of
these two factors: it has become more accessible for people across all social classes to invest
their money through mutual funds than ever before, and people are starting earlier than ever
before so that they can take advantage of better returns from investing early on instead of
waiting until later.

2.2.2 HISTORY OF THE MUTUAL FUND INDUSTRY

The mutual fund market grew in 1963. Please refer to the following events:

1963: The government established Unit Trusts of India

1964: Initiated the first UTI Unit Plan

1987: The public sector entered the money house. SBI Mutual Fund is the first PSU bank.

1993: The emergence of private finance companies. Franklin Templeton (formerly Kothari
Pioneer) was the first private mortgage company.

1993-2003: There have been many developments in this decade. While SEBI regulates the
regulation of mutual funds, the industry has seen many mergers and acquisitions and the
creation of foreign investment funds.

2009: Unloading of entry

2012: Part of total spend (TER) for education investors. Rajiv Gandhi Equity Savings Plan
(RGESS) was launched.

2013: Reduction in Securities Transactions Tax (STT) for stock funds.

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SEBI reallocated mutual funds to be held by banks.

2.2.3 GROWW MUTUAL FUND

Groww trading platform – Through the Groww website and the Groww mobile app, Groww
helps investors to invest in various funds according to their financial goals and risk appetite.
Groww provides the same source to invest in MF and stocks. Groww started as a shared
resource business and has established itself in this space with over 9 million customers. Groww
Mutual Fund App is one of the fastest-growing apps in the Indian Mutual Fund industry. The
main features of the Groww platform include:

● Clean user interface with a simple design.

● Option to transfer your external investment for free integration.
● A dashboard where you can track all your investments and annual returns.
● A direct mutual fund platform that allows you to earn an extra 1% + return.
● The ready mutual fund collections are divided into various categories such as equity, debt,
hybrid, solution-focused, and others.
● Fund groups grouped by risk, fund size, and investment model.
● A place where you can compare key features of funds such as NAV, Risk, Return, and
Ratings to help you decide to choose to invest in SIP or Lump mode.
● More than 5,000 accounts from over 35 affiliates.
● Zero fees, no transaction fees, no hidden fees.
● Invest in ELSS (Equity Linked Savings Schemes) funds to save taxes under section 80C.
● Education Blogs and Mutual Funds related resources.
● Different types of integration in accounting.
● SIP starting from Rs 500.
● Safe and secure application with 128-bit encryption.

2.2.4 GROWW MUTUAL FUND CHARGES

Groww offers brokerage-free mutual fund investment. They don't take any transaction fees,
redemption charges, or commissions from their customers.

Groww offers only direct mutual funds. The direct mutual fund gives an additional earning to
the investors by way of saving on the commission that an AMC is required to pay to the agents
or brokers who act as mutual fund distributors in the case of regular mutual funds.

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Head Charges

Groww Account Opening Charges Zero

Groww Mutual Fund AMC Fees Zero

Groww Mutual Fund Brokerage Zero

Groww Mutual Fund Commission Zero

Groww Mutual Fund DP Charges Zero

Groww Other Charges No Hidden Charges

SIP (Systematic Investment Plan)

A SIP is like a mutual fund, but the investment is mainly in the form of a mutual fund. In SIP,
on the other hand, a small amount is invested in regular funds. With SIP you can invest at least
Rs 500 every month or quarterly. Fund managers are appointed to invest in various areas of the
market, including stocks, bonds, and commodities, on behalf of investors. A fund manager's
goal is to get the best possible return with the least amount of risk.

One of the main benefits of investing in SIPs is the power to compound, where interest earned
from the principal amount is reinvested. At the same time, investors are getting more and more
profits.

One–Time Investment
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Lump-Invest Plans (lump investments) are the best investment model for investors who like to
make large investments in one go during a market downturn, rather than regular investments
from SIPs.

These investors are generally more familiar with stocks and stocks and therefore generally
prefer to invest in direct plans of the anonymous stock market.

Lump sum investments are generally long-term, which increases the chances of earning higher
profits.

2.2.5 GROWW MUTUAL FUND CALCULATOR

Groww has a built-in calculator for various mutual investment types that helps you calculate
and analyze your income needs, returns, and final investment:

1) SIP Calculator

SIP Calculator is a tool that helps traders determine how much they need to save, how much
they invest, and their monthly SIP investment.

2) Lumpsum Amount Calculator

The lumpsum Amount Calculator helps investors calculate their estimated return on investment
over a given period. These calculators help you create the best plan for your finances based on
expected returns that will meet your financial goals.

3) SWP Calculator

SWP stands for Social Security Payment Plan and is for seniors and senior citizens. Groww
SWP is a mutual fund where you deposit money for a certain period and have the option to
withdraw a certain amount each month. At the end of this period, you will receive the final
amount as the refund amount, after deducting the income you withdraw.

SWP Calculator helps you calculate payment based on monthly withdrawals. This calculator
helps you set withdrawal limits as you wish and set the upper limit based on a one-time
investment.

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4) Mutual Fund Yield Calculator

Mutual Fund Yield Calculator calculates the return on investment over time. It allows you to
make future financial plans based on projected returns.

2.2.6 GROWW MUTUAL FUND CUT-OFF TIME

The mutual fund cutoff period determines the NAV at which you can buy and sell the mutual
fund. To ensure you receive the mutual fund's NAV on the same day, the funds must arrive at
the asset management company the same day before the withdrawal period. If the principal
does not receive the money by closing time, the next day's NAV will apply to you. Withdrawal
time varies by account type and amount.

Fund Type Buy/Sell Cut-off Timings

Liquid and Overnight Funds Buy 12.55 PM

All other funds for a Value > = 2 lakhs Buy 2.25 PM

All other funds for a Value < 2 Lakhs Buy 3 PM

Liquid and Overnight funds Sell 3 PM

All other funds for a value > = 2 Lakhs Sell 3 PM

All other funds for a Value < 2 Lakhs Sell 3 PM

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2.2.7 GROWW NFO

An NFO (New Fund Offering) is a new subscription fund issued by an asset management
company (AMC) or mutual fund company to raise funds. Groww offers its investors a service
to apply for NFOs online through the Groww mutual fund platform. The company maintains a
list of current NFOs and recently closed NFOs.

NFO cut-off timings on the last day of the NFO are 8 pm for lumpsum &2 pm for SIP.

2.2.8 INDIAN STOCK MARKET TIMINGS

Market trading is only possible during certain periods in India. Retailers must place these trades
through their brokers between 9:15 am and 3 pm.

Most investors buy/sell stocks listed on India's main stock exchanges – the Bombay Stock
Exchange (BSE) and National Stock Exchange (NSE). Indian stock market listings are the
same on both major stock exchanges.

● Pre–opening timing – This session lasts from 9:00 a.m. to 9:15 a.m. Orders to purchase
or sell any securities can be placed during this time.

● Normal Session - This is the best time for Indian business, and it lasts from 9.15 am to
3.30 pm. A business currently running is based on mutual decision-making, where price
setting is determined by demand and supply forces.

The integration of the two parties is inflexible and ultimately leads to many business
changes related to the security price. To manage this change, many decisions are taken for
the pre-opening meeting and put on the calendar of the Indian stock market.

● Post-Closing Session – stock market closing time in India is marked at 3:30 p.m. No
exchange takes place after this period. However, the determination of the closing price is

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done during this time, which has a significant effect on the following day’s opening security
price.

2.2.9 EQUITY TRADING

Investing in the stock market is done for clients only through a brokerage business. Orders for
certain securities can be placed online, and traders with direct investments can apply within the
T+2 timeframe.

However, due to all the volatility of the stock market, investments should be made after careful
analysis of companies listed on the BSE/NSE. You can find good business resources that
provide you with a complete analysis of different companies and allow you to buy products
easily.

Securities of selected companies can be determined even after the market closes. In addition,
for reciprocal NAVs, trading takes place after the close of the day, when the price is based on
the last price of the stock at the time of closing.

2.2.10 EQUITY INTRADAY TRADING

Intraday is “within the day.” Thus, it refers to the trade activity that is done by an individual
during the market hours in one day. Intraday trading is all about scouting for names that can
either move up or move down. If a stock is likely to move up, a trader buys low and sells high.

On the other hand, if a share is expected to go down, a trader tends to short-sell, which means
selling high and buying low. Intraday trading requires you to possess a sharp sense of how the
market may behave and act accordingly.

BULLS/BEARS

Bulls: A bull market indicates the constant upward movement of the stock market. A
particular stock that seems to be increasing in value is described to be bullish.

Bears: A bear market indicates the continuous downward movement of the stock market.
Stock that seems to be decreasing in value is described to be bearish.

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2.2.11 EQUITY INTRADAY BROKERAGE CHARGES

Groww charges a lower fee of Rs. 20 or 0.05% of the exchange rate for intraday trading. Groww
implements a flat fee model that charges the same brokerage fee for both shipments and
intraday transactions.

For intraday trades, if the transactions are not squared off by 3:20 pm, Groww initiates auto
square off for the open trades, for which it charges a penalty of Rs 50 +18% gst per position.

EQUITY DELIVERY TRADING

One of the methods to trade in the stock market is through equity delivery, often known as
delivery-based trading. Equity delivery means when you acquire some shares and keep them
in your Demat account for a period. After the shares are delivered to you - you can keep them
for as long as you wish in delivery trading. You own the stocks you purchase outright and can
sell them at a profit at any time.

This is in sharp contrast to intraday trading, which involves buying and selling shares inside a
single trading day. In intraday trading, you do not have to pay the total price of the shares.
However, because no margins are supplied, you must have sufficient funds in your account to
purchase shares in delivery.

EQUITY DELIVERY BROKERAGE CHARGES

Groww charges a lower fee of Rs. 20 or 0.05% of the exchange rate for intraday trading. Groww
implements a flat fee model that charges the same brokerage fee for both shipments and
intraday transactions.

DEPOSITORY PARTICIPANT CHARGES

DP charges are levied when the scrip is debited from the demat account. And it is calculated
per script per trading day. The charge is RS 13.5 + GST per script. So even if you sell the same
scrip multiple times on the same day, you will be charged once.

For example, if your stockbroker sets DP charge as INR 10, you pay INR 10 on the sale of 100
shares and INR 10 on 1000 shares.

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GROWW BROKERAGE CHARGES 2023

The customer pays a commission (brokerage) when buying or selling stocks through Groww.
The brokerage charges for equity, commodities, and currency derivative trading for Groww are
mentioned below:

Segment Brokerage Fees

Equity Delivery Rs 20 per executed order or 0.05% whichever is

lower.

Equity Intraday Rs 20 per executed order or 0.05% whichever is

lower.

Equity Options Rs 20 per executed order

Equity Futures Rs 20 per executed order

Monthly Fee (Fixed) NA

2.2.12 ORDER TYPES IN THE SHARE MARKET

1. Market Order - It is an order to buy or sell immediately at the best possible price
at the current market.

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2. Limit Order - A limit order is one of the types of order, where the trader can set
a price to buy or sell a security. Unlike market order, where the trader doesn’t have
any control over the price, the trader will set the price in a limit order.
● Buying à Limit Price should be lesser than CMP (Current Market Price)
● Selling à Limit Price should be greater than CMP (Current Market Price).

3. After-Market Order - Aftermarket orders are types of orders that are placed
beyond market hours i.e., after 3:30 p.m.

4. Stop Loss Order - A stop-Loss order is one of the most important types of orders
where a trader can limit his or her losses by exiting a trade if a specific price is
reached. By placing a stop-loss order, one can save himself from incurring high losses
if the price goes against them.
● Stop Loss Limit
Buying SL - Limit à CMP should be lesser than Trigger Price and lesser than Limit Price.
Selling SL - Limit à CMP should be greater than Trigger Price and greater than Limit
Price.
● Stop Loss Market
Buying SL - Market à CMP should be lesser than Trigger Price.
Selling SL - Market à CMP should be greater than Trigger Price.

5. Good Till Cancelled Order - A GTC order allows a trader to place an order to
buy/sell a stock that remains active until it gets fulfilled or canceled by the trader. A
trader can also set the expiry date for the validity of the order. Only a few
stockbrokers offer GTC orders. A GTC order is generally valid for a year.

6. Immediate OR Cancelled Order (IOC)- When a trader places an

Immediate or Cancel order, the order is either executed immediately or canceled (if
it does not get executed). In an IOC order, time is of the essence. It is of great utility
to traders who do not have time to monitor the markets. You can place an IOC order
as a limit or market order. At times, an IOC order can be partially fulfilled.

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2.2.13 OPTION TRADING

An option is a contract that is written by a seller that conveys to the buyer the right – but not
an obligation to buy (for a call option) or to sell (for a put option) a particular asset, at a specific
price (strike price/exercise price) in future. In return for granting the option, the seller collects
a payment (known as a premium) from the buyer.

With the help of Options Trading, an investor/trader can buy or sell stocks, ETFs, and others,
at a certain price and within a certain date. It is a type of trading that offers investors fair
flexibility to not purchase a security at a certain price/date.

When a trader/investor purchases or sells options, they attain a right to apply that option at any
point in time, although before the expiration date. Merely buying/selling an option does not
require an individual to exercise at the time of expiration.

PARTICIPANTS IN OPTION

1. Buyer of an Option – The one who, by paying the premium, buys the right to exercise
his option on the seller/writer.

2. Writer/seller of an Option – The one who receives the premium of the option and
thus is obliged to sell/buy the asset if the buyer of the option exercises it.

3. Call Option- A call option is an option that provides the holder the right but not the
obligation to buy an asset at a set price before a certain date.

4. Put Option- A put option is an option that offers the holder the right, but not the
obligation, to sell an asset at a set before a certain date.

Profitability Scenario in Options:

1. In-the-Money Option- In-the-money (ITM) options are the ones that leads to positive
cash flow to the holder if it was exercised immediately. For example, in a call option on the
index, if the current index value is higher than the strike price (spot price > strike price), the
option is said to be in the money5.

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2. At-the-Money Option- At-the-money (ATM) option is an option that leads to zero cash
flow (a situation of no profit/no loss) if it were exercised immediately. For example, in the
previous case, if the current index value is equal to the strike price (spot price = strike price),
the option is ATM.

3. Out-of-the-Money Option - Out-of-the-Money (OTM) Option that would lead to

negative cash flow if it were exercised immediately. For example, in the previous case, if the
index value is lower than the strike price (spot price < strike price), the option is said to be
OTM.

NOTABLE TERMS IN OPTIONS TRADING

1. Premium- The price that the option buyer pays to the option seller is referred to as
the option premium.
2. Expiry Date- The date specified in an option contract is known as the expiry date or
the exercise date.
3. Strike Price- The price at which the contract is entered is the strike price or the
exercise price.
4. Index Options – These are the options that have an index as the underlying. In India,
the regulators authorized the European style of settlement. Examples of such options
include Nifty options, Bank Nifty options, etc.
5. Stock Options- These are the options on the individual stocks (with stock as the
underlying). The contract gives the holder the right to buy or sell the underlying shares
at the specified price. The regulator has also authorized the American style if settlement
for such options.

2.2.14 GROWW FUTURES AND OPTION CHARGES

Charges Futures Charges Options Charges

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Brokerage Rs20 per order Rs20 per order

STT Charges 0.01% of the sell value 0.05% of the sell value

Stamp Duty 0.02% of the buy value 0.03% of the buy value

Stamp Duty 0.02% of the buy value 0.03% of the buy value

SEBI Turnover Charges 0.0001% of the turnover 0.0001% of the turnover

value value

Transaction Charges NSE: 0.002% of the NSE: 0.053% of the turnover

turnover value value

GST Charges NSE: 0.002% of the NSE: 0.053% of the turnover

turnover value value

IPO IN THE STOCK MARKET

IPO stands for Initial Public Offering. An initial public offering (IPO) can be defined as a
process in which a private company or company goes public by selling a portion of its capital
to investors.

An IPO is usually initiated to raise new capital for a company, facilitate the
commercialization of existing assets, raise funds for the future, or profit from shareholders'
investments.

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Institutional investors, High Net Worth Individuals (HNIs), and the public can view the
details of the first sale in the report. The prospectus is a long document that sets out the
details of the proposal.

After the public offering is complete, the company's shares are listed on the stock exchange
and can be freely traded on the open market. The stock market shows the minimum free float
and total capital ratio for the stock's public offering.

Key features of Groww IPO Application

● IPO app option is only available in the Groww web version.

● You can change or cancel your application from the status window before the public
offering is opened.
● The Status window provides details of IPO schedule dates such as share completion,
relaunch, transaction, and listing date.

Groww IPO charges

Groww offers free online IPO application services to its customers. There are no charges to
apply for an IPO through the Groww trading platform.

2.2.15 COMPETITORS OF GROWW

Groww, as an online investment platform in India, operates in a competitive landscape with

several other players in the market. Some of the main competitors of Groww are:

1. Zerodha: Zerodha is a prominent online brokerage firm in India that offers investment
and trading services, including stocks, mutual funds, bonds, and more. Zerodha is known for
its low-cost brokerage model and user-friendly trading platform.

2. Upstox: Upstox is another popular online brokerage firm in India that offers investment
and trading services, including stocks, mutual funds, derivatives, and more. Upstox is known
for its competitive pricing, advanced trading tools, and technology-driven approach.

3. Paytm Money: Paytm Money is a leading online investment platform in India that offers
mutual funds, stocks, and other investment options. It is known for its seamless integration

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with the popular digital wallet Paytm and offers a user-friendly platform with simplified
investment processes.

4. ETMoney: ETMoney is a digital investment platform in India that offers mutual funds,
insurance, and other investment options. It is known for its comprehensive financial planning
tools and personalized investment recommendations.

5. Scripbox: Scripbox is an online investment platform in India that primarily focuses on

mutual funds. It offers goal-based investing, automated portfolio management, and
personalized investment plans.

6. MyCAMS: MyCAMS is an online platform that provides services related to mutual funds,
including investments, tracking, and portfolio management. It is known for its wide range of
mutual fund options and user-friendly interface.

2.2.16 SWOT ANALYSIS OF GROWW

STRENGTHS

● Low-cost Trading
● Big Fundings & Support
● Advance Technology
● Reducing Costs
● Market Strategy

WEAKNESS

● Few Employees
● Limited Services
● Research & Development
● Lack of Knowledge
● Customer Service
● Competition

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33
A STUDY ON THE ROLE OF CUSTOMER SERVICE IN SECURITY MARKET AT GROWW PVT. LTD

OPPORTUNITIES

● Increased Customer Base

● Market Research
● Bullish Markets
● Digital Gold
● Online IPO
● Awareness

Threats

● Government Policies
● Online Substitutes
● Digital Frauds
● Foreign Firms
● Bearish Market

REVA UNIVERSITY
34
 CHAPTER- 03
RESEARCH METHODOLOGY
3.1 LITERATURE REVIEW

1. Robb, Cliff A., and Sharpe, Deanna L. (2009)- It collected survey data from 6,520
students at a large Midwestern University which affirmed that financial knowledge is a
significant factor in the credit card decisions of college students but not entirely in expected
ways. Results of a double hurdle analysis indicated that students with relatively higher levels
of financial knowledge were not significantly different from students with relatively lower
levels in terms of the probability of having a credit card balance. Contrary to expectations,
those with higher levels of financial knowledge had significantly higher credit card balances.
Overall, the present findings highlight the complex nature of the relationship between financial
knowledge and credit card behaviour.

2. RAVI KANT (2011), Testing of Relationship Between Stock Return and

Trading Volume in India- The paper draws attention to the sensitive relationship that
exists between stock returns and trading volume in India. The paper observed that, at times the
volumes do not play a crucial role. In the case of Futures & Options, the volumes matter during
the short-term news favoring a particular company. However, it is not easy to predict the
behavior of trading volume and stock return.

3. Rakesh H.M. (2014) - This study is based on primary data collected from 150
participants, merchants from the city of Mysore. The research report says that only 10% of
respondents want to continue investing in the stock market for more than 5 years. In other
words, research has shown that people do not want to trade in the stock market for longer, even
if people give better results. According to the analysis of the article, investors paid % for annual
income and annual savings, but the money came to determine the level of savings. He said that
investors know the stock market well and they believe that the stock market also affects the
investment models of investors. But the text is important for uneducated investors who do not
understand business, and business trends, and stock price movements. Observations remain
silent. It focuses on factors that affect information protection and decision-making. Personal
income level also determines the way you do business. The investor's income level determines
the type of investment the investor will choose.

4. Reena Rai (2014) - The report works to examine the characteristics that influence the
decision-making behavior of investors, executing the behavior according to the relevant
research. He said many factors affect, including many demographics such as gender, age, and

pg. 34
education level. It is known that men are times more self-confident than women. Age affects a
person's brain and risk-taking strategy. This also explains the sometimes-cautious behaviour
and protection. Investors' decisions are based on capital structure average price, political and
media, analysis, past performance of company stock, revenue from and earnings per share, etc.
it is depending. Finally, he concluded that of the many factors that influence the entrepreneur's
behaviour, some work very little while others mainly influence the entrepreneur's behaviour.
General Factors are gender, age, level of confidence, uncertainty, risk factors, company
performance.

5. Bing Zhu (2012)- The study aims at understanding the performance of arbitrage pricing
theory (APT) in the Shanghai Stock Exchange. In finance, arbitrage pricing theory (APT) is a
general theory of asset pricing that holds that the expected return of a financial asset. The
research points out the fact that factors such as foreign reserve, exports, exchange rates, and
unemployment rate have an impact on the returns of energy sector. As the foreign reserve
increases by 1 point, the stock return of energy sector increases by 2.142004. This shows that
foreign reserves have a positive direct impact on the returns of energy sector.

5. Domenico Celenza and Fabrizio Rossi (2012) - This study aims at providing a
relationship between the intellectual capital (IC) and returns of a company. It also aims at
evaluating the value of IC.

∙ The accounting records are still incomplete despite the regulatory accounting standard. It is
limited in transmitting information that is slowly reflected in the prices of securities of listed
companies to the stock market.

∙ As the information arrives at the market, it becomes old. Compared to the degree of circulation
of information in the market, the financial indicators appear to be static.

∙ The beta factor does not explain the market value of firms and changes in stock prices. The
conclusions stand true as, the financial statements, made at the end of the year; fail to inform
the value of the firm. The speculation in the market also affects the investor’s sentiment. The beta index
indicates the systematic risks associated with the stocks and fails to elaborate the reason for changes in
stock prices and market value of firms.

6. Kaushal A. Bhatt (2013)- The paper aims at studying the literacy and awareness of
capital markets among investors regarding various investment avenues. To find and identify
segments preferred more by the people and the influencing force behind the decision-making,

pg. 35
while investing in currently available options including stock markets. It concludes that
investors are moving to new investment avenues such as the equity market, mutual funds,
bonds, and others like gold, land, etc. This is due to the decreasing trend of bank rates. This
also increases the scope of business for the investment companies. The investors are also risk
sensitive. They want more safety and security. The stock markets have become very popular
due to their high rate of return but due to uncertainty and risk many people do not invest in
equity markets.

7. Geetika Batra (2013)- Investors need to think apart from public institutions to private
sector players. As they don’t have any other source of income so if the investment plans fail, it
would be disastrous on the savings front and logically, on the financial planning front.
However, if one starts investment early, then the risk-to-reward ratio would be very high.
Hence one should remain substantially committed to stock during this earning period.

8. Daniel Agyapong (2013) - This study paper aims at understanding the relationship
between the stock markets and the foreign exchange markets. The different methods adopted
till date have produced varying results. The empirical world, though, is able to explain the
reasons for the differing results in the various methods. The various results of empirical
investigations have no relation, negative or positive relation, and weak or strong relations inter
se. It also points out that the degree of the relation depends on the degree of globalization of
the country, economic stability, trade volumes, mobility, etc.

9. Sanjeet Sharma (2011)- This study aims at studying the relation between the equity
share prices and related variables such as book value of shares, earnings per share (EPS),
dividend per share (DPS), and dividend pay-out etc. The study reveals that EPS and DPS are
the strongest determinants of market price, and therefore the study suggests a liberal dividend
policy as a good measure of attracting investors, gaining their confidence, and thereby,
increasing the valuations of the company. These factors possess a strong explanation to provide
future forecasts of stock prices. They also suggested that the company data and indices be taken
care of. The conclusion is statistically explained but in the current scenario, where prices are
volatile EPS does not stand to be a major indicator.

10. Nachiket Bhate and Alok Bansal, Personal Financial Planning (2013)- It
states that personal investing helps to achieve major emergency funds, buying real estate later
and better cash management, personal finance and investment alternatives, and retirement

pg. 36
plans. One needs to appoint a better fund manager to ensure stability while managing risk.
People don't consider Insurance and other secured schemes as asset. Hence, they end up
investing into such products with are not able to beat the inflation. It was concluded that
disciplined way of investing and diversification of funds including Insurance products boost
their personal financial planning.

11. Anju Bala (2013), Indian Stock Market - The paper has explained the logistics
involved into the working of the stock market and the investors preferences of selecting stock
market as a tool of investment. The paper studies the different asset class and other financial
alternative available to investors covering all age groups depending on their requirements such
as:

- NON-MARKETABLE FINANCIAL ASSETS (Bank Deposits, Company Deposits)

- EQUITY SHARES (Blue Chips shares, Growth shares)

- BONDS (Government Securities, PSU Bonds)

- MONEY MARKET INSTRUMENTS (Treasury Bills, Certificates of Deposit)

- MUTUAL FUNDS (Balanced Schemes, Debt Schemes) - LIFE INSURANCE (Money back
policy, Whole Back policy)

- REAL ESTATE (Agricultural Land, Commercial Property)

- PRECIOUS OBJECT (Gold & Silver) - FINANCIAL DERIVATIVES (Future & Option
warrants).

It has recommended a list of measures for the improvement of investor participation into the
stock market. It has recommended the listing of stock prices on multiple stock exchanges to
improve liquidity and gain investor confidence. It has also observed that speculation is
widespread into the Indian stock market system and thereby it causes volatility into the prices
of shares. This volatility creates insecurity. It has further observed that investors use technical
analysis and fundamental analysis for selecting their investment into the stock market and the
low cost of operations into the derivatives market has made it a preferred choice of investment.

12. Lusardi and Mitchell (2011)- reports on a purpose-built survey module on planning
and financial literacy for the Health and Retirement Study which measures how people make
financial plans, collect the information needed to make these plans, and implement the plans.

pg. 37
Results show that financial illiteracy is widespread among older Americans, particularly
women, minorities, and the least educated. He also found that the financially savvy are more
likely to plan and to succeed in their planning, and they rely on formal methods such as
retirement calculators, retirement seminars, and financial experts, instead of family /relatives
or co-workers. These results have implications for targeted financial education efforts.

13. Rajeev Jain (2012), Investor’s Attitude towards Secondary Market

Equity Investments- It’s a fact that only few investors create immense wealth from a stock
market and manage to keep it for decades. These investors take the right decisions and for
doing this one need experience. But experience comes from bad decisions too. Investors who
create wealth from equity markets and keep it for decades, at times for generations, do not
panic when a market falls.

14. Gurinder Singh and Tavleen Kaur (2015)- It states the perception of investors
and non-investors towards the Indian Stock Market. Those who are non-investors always
calculate the insecurity of loss of money in the market and the risk of investing. There are other
categories of people who are ready to invest but they want investor-friendly schemes, which
are not only simplified but also have an easy exit option. So, the government and fund houses
need to spread awareness about investors on a large scale. Initial tax incentives provided by the
government for first-time investors will also encourage many people to get invested in roping
in celebrities to advertise as it affects the mass population. Proper clarity must be given to
people through various means between Trading and Investment. However, a SIP (Systematic
Investment Plan) thing would be a great option for low-income group.

15. Krunal K Bhuva and Vijay H Vyas (2015)- states that if long term investment is
made into the market, then the dividends on stock would be good source of income. The
relationship in terms of dividend varies with respect to return on market for different industries.
However, there are some sectors which give a good or robust returns in terms of growth and
dividend. The result also shows that dividend paying companies are large but more debt in such
companies will affect to stock return. Similarly, there are mutual funds houses which banks on
dividend-oriented schemes which help an investor to re-invest their dividend into units thus
strengthen their holdings. A wise decision would help to earn a dual advantage of growth and
dividend income.

pg. 38
16. Kajal Gandhi (2015)- paper findings were based on a survey which has been carried
out among five cities-Mumbai, Delhi, Kolkata, Chennai, and Ahmedabad. The respondents of
the metro cities are more inclined towards investing in stock market as they consider it as a
financial tool, but they don't have expertise knowledge or don't prefer to hire a professional to
manage their portfolio due to which they fall prey of losses. However, people in Tier-II cities
like Ahmedabad still consider traditional investment like gold, property, gold, and bank
deposits are their favourite option this is due to narrow minded as there are low saving habits,
low awareness of investment opportunities.

3.2 Statement of the problem

Customer satisfaction is one of the most important issues concerning business organizations of
all types, which is justified by the customer orientation Philosophy and the main principles of
continuous improvement of modern enterprises. A customer is an individual or business that
purchases the goods or services produced by a business. The client is the end goal of businesses,
since it is the customer who pays for supply and creates demand. Businesses often follow the
adage that "the customer is always right" because happy customers will continue to buy goods
and services. In today’s competitive business environment, customer satisfaction is an
increasingly important component of an effective organization. Customer satisfaction is a key
component of a successful and prosperous organization. It has been linked to higher profit
margins and greater employee satisfaction, customer loyalty, customer retention, and repeat
purchases. When measured in financial terms, it is easy to see why customer satisfaction should
become the foundation to all other measures of business performance. Satisfied customers will
return to buy more, recommend you to others, cost less to sell to, and cost less to service. In
short, organizations that actively manage customer satisfaction are actively managing their
ongoing profitability. Customer satisfaction is important because it provides marketers and
business owners with metrics that they can use to manage and improve their businesses.
Building customer relationships is one of the customer retention strategies used to improve
customer service and reduce customer churn. The problem is that customer satisfaction is
seldom expressed in financial terms. Many organizations simply categorize customer
satisfaction measurement as a form of “marketing intelligence” instead of using it as a
management tool to build the customer into their quality improvement processes and increase
profit. As a result, companies often know the cost of providing good service, but they rarely
know the cost of providing bad service. Many market research companies agree that even

pg. 39
satisfied customers” will defect. Therefore, this study concerns customer satisfaction to meet
custom needs in order to make customers loyal and retain them for better profit in today’s
modern market within the context of National Cement Share Company.

3.3 TITLE OF THE STUDY

“A STUDY ON THE ROLE OF CUSTOMER SERVICE IN SECURITY MARKET IN

GROWW”

3.4 NEED OF THE STUDY

A customer satisfaction survey is a systematic process for collecting consumer data, analyzing
this data to make it into actionable information, driving the results throughout an organization,
and implementing a satisfaction survey as a management information system that continuously
captures the voice of the customer.

3.5 OBJECTIVES OF THE STUDY

The following survey was mainly done with the objective to know the state of mind of the
investors who wanted to invest in the stock market & also to know the attitude and preference
of the prospective investors regarding the capital market with special reference to Groww in
which is an online brokerage house in India.

3.6 RATIONAL OF THE STUDY

This project is done to cater to and understand the need of existing and potential investors in
the market and provide the best services to investors. In Today's competitive world customers
play a very important role in the success of any organization. The purpose of this study is to
whether customer satisfaction followed by Groww caters to the needs of the clients. Whether
the clients are happy or not with the service provided by Groww.

3.7 JUSTIFICATION OF THE STUDY

As we know Customer Satisfaction is one of the main aspects of any Organization. It is very
important for any Organization to have a deep analysis of their perspective customers and
create awareness regarding their services. The importance of Customer Satisfaction is
appreciated with the growing competition in the economy. So, I selected “Study of Customer
Service”.

3.8 SCOPE OF THE STUDY

pg. 40
The following survey was done parallel when an investor is going to invest in the stock market.
The study helps us to know the state of mind of the investors & their expected charges regarding
Brokerage, Return, Annual maintenance charges, and so on.

The Brokerage house also benefited as it came to know what an individual investor expects
when he or she is going to invest in the capital market. Also, if the Brokerage house is lacking
in some areas, what is that, and how to overcome that?

3.9 DATA COLLECTION

In my project, I have used both Primary Data and Secondary Data.

For Primary Data: - Primary data is the data that is collected for the first time through
personal experiences or evidence, particularly for research. It is also described as raw data or
first-hand information. The mode of assembling the information is costly, as the analysis is
done by an agency that supervises and controls the data collection process directly. It is
collected through a structured questionnaire comprising of close-ended questions, and it was
filled by the prospective investors who wanted to invest in the capital market, and who had
already invested in the stocks market.

For Secondary Data: - Secondary data is second-hand that is already been collected and
recorded by some researchers for their purpose, and not for the current research problem. It is
accessible in the form of data collected from different sources such as government publications,
census, internal records of the organization, books, journal articles, websites, reports, etc. I
have taken the information from the official website of [Link] [Link]
and so on. I have also preferred many Books of various authors, and daily Magazines, and so
on.

pg. 41
 CHAPTER- 04
DATA ANALYSIS AND INTERPRETATION
4. DATA ANALYSIS AND INTERPRETATION

TABLE- 1

4.1 Which Gender do you identify with yourself?

Male 36

Female 14

GRAPH-1

Gender
14

36

Male 2nd Qtr

Interpretation- From the above study we can clarify that out of 50, 36 male
respondents and 14 female respondents are trading in Groww. So, we can clarify
that males are more interested compared to females in Equity trading in Groww.

42
4.2 Q. Age Group-

TABLE- 2

20-30 18

30-40 7

40-50 20

50-60 5

GRAPH-2

5
Age

18

20

20-30 30-40 40-50 50-60

43
Interpretation- From the above study the result is 18 respondents between 20-
30 age, 7 respondents between 30-40 age, 20 respondents between 40-50 age, and
only 5 respondents are Above 50 are interested in Equity trading in Groww Ltd.
and majority people came under 40-50 age group.

4.3 Q. What is your opinion about the shares?

TABLE-3

It offers an investment facility 14

It make earn quick profit/gain 12

It is a part of an investment 10

It offers easy Liquidity 14

GRAPH-3

44
 Opinion
14 14

10
12

It offers an investment facility It make earn quick profit/gain

It is a part of an investment It offers easy Liquidity

Interpretation- Out of 50 respondents, 14 believe that shares offer an investment policy,

12 people believe that shares can earn quick profit/gain, 10 believe that it is a part of an
investment, and 14 people believe that shares are useful for easy liquidity.

4.4 Q. How did you come to know about Groww Ltd. Online trading shares?

TABLE-4

Share Brokers 12

Friends 24

Bankers 5

Online Advertisement 9

45
GRAPH- 4

Referance
9 12

24

Share Brokers Friends Bankers Online Advertisement

Interpretation- Out of 50 respondents, 12 people got information about Groww

Ltd from share brokers, 24 people got information about Groww Ltd from
Friends, 5 people got information about Groww Ltd. from Bankers, and 9 people
got information about Groww Ltd. from online advertisement. So, we can justify
that most people got information from friends.

46
4.5 Q. How frequently do you invest in Shares?

TABLE-5

Daily 22

Monthly 8

Every 3 months 9

47
 Others 11

GRAPH-5

Frequency
11

22

Daily Monthly Every 3 months Others

Interpretation- Out of 60 respondents, 22 people invest in shares Daily, 8 people

invest in shares Monthly, 9 people invest in shares Every 3 months, and 11 people
are others.

4.6 Q. Have you ever felt dissatisfied with any of these services of our
company Groww Ltd?

TABLE- 6

Slow Operation 15

48
Delayed Correspondence 17

Inaccessibility to the service center 7

Fund transfer facility 11

GRAPH-6

Dissatisfaction

11
15

12

Slow operation Delayed Correspindence

Inaccessibility to service center Fund transfer facility

49
Interpretation- out of the 50 respondents 15 people are dissatisfy with services
of Groww ltd. is Slow operation, 17 people are dissatisfied with services of
Groww ltd. is Delayed operation, 7 people are dissatisfy with services of Groww
ltd. is Inaccessibility to the service center, 11 people are dissatisfies with services
of Groww ltd. is Fund transfer facility.

50
4.7 Q. Are you satisfied by the brokerage charges of transactions when
compared to the other competitors in the market?

TABLE-7

Highly satisfied 7

Satisfied 12

Moderate 9

Dissatisfy 7

Highly dissatisfied. 15

GRAPH-7

51
 Brokerage
7

15

12

Highly satisfy Satisfied Moderate Dissatisfy Highly dissatisfy

Interpretation- Out of 50 respondents, 7 are Highly satisfied with Brokerage of

Groww Ltd., 12 are satisfied with Brokerage of Groww Ltd., 9 remain Moderate
with Brokerage of Groww Ltd., 7 are Dissatisfied with Brokerage of Groww Ltd.,
15 are Highly Dissatisfied with Brokerage of Groww ltd.

52
4.8 Q. Are you satisfied with the option BTST/DELIVERY (buy today sell
tomorrow) provided by the company?

TABLE-8

YES 40

NO 10

GRAPH-8

53
 Satisfaction

10

40

YES NO

Interpretation- Out of 50 respondents, 40 people are satisfied with the option

BTST/DELIVERY (buy today sell tomorrow), and 10 people are Dissatisfied
with the option BTST/DELIVERY (buy today sell tomorrow).

54
4.9 Q. What is your view on the Equity Market?

TABLE-9

Bullish 25

Bearish 15

Not Sure 10

GRAPH-9

View
10

25

15

Bullish Bearish Not Sure

Interpretation- As per the above result, out of 50 respondents, 25 people's views

are Bullish, 15 people’s views are Bearish and 10 people are not sure about the
upward and downward movement of the stock value.

55
4.10 Q. Are you satisfied with the overall services provided by Groww Ltd?

TABLE-10

Highly Satisfied 7

Satisfied 7

Moderate 14

Dissatisfied 13

Highly Dissatisfied 9

GRAPH-10

Services
7
9
7

13

14

Highly Satisfied Satisfied Moderate

Dissatisfied Highly Dissatisfied

56
Interpretation- Services from the 50 respondents, 7 are Highly satisfied by the overall
services provided by Groww Ltd., are Satisfied by the overall services provided by Groww
Ltd., 14 are Moderate by the overall services provided by Groww Ltd., 13 are Dissatisfied by
the overall services provided by Groww Ltd., 9 are Highly Dissatisfied by the overall services
provided by Groww Ltd.

4.8 STOCK ANALYSIS

Expenses Breakdown of FY21

FY21
₹ 2 Cr
₹ 4 Cr

₹ 17 Cr

₹ 50 Cr

₹ 41 Cr

₹ 3 Cr

Adversting promotional expenses

Legal professional fees
Employee benefit expenses
Information technology expenses
Transaction and other related charges

Expenses Breakdown of FY22

57
 FY22
₹ 76 Cr ₹ 11 Cr

₹ 254 Cr
₹ 84 Cr

₹ 230 Cr ₹ 9 Cr

Advertising promotional expenses

Legal professional fees
Employee benefit expenses
Information technology expenses
Transaction and other related charges
Others

Interpretation

● Advertising promotional expenses in FY21 are Rs.50 Cr and in FY22 are Rs.254
Cr, which shows there is an increase of 5x around the year, advertising
promotional expenses are the largest cost center in Groww.
● Employee benefit expenses were the second largest expenditure followed by the
cost of advertising which formed 35% of the total spending. The cost blew 5.6X
to Rs 230 crore in FY22. It also included Rs 112.5 crore as ESOP expenses
which was a non-cash expenditure.
● Information technology costs surged around 5X to Rs 84 crore while transaction
charges ballooned 19X to Rs 76 crore in FY22.
● The company spent Rs 9 crore on legal and professional fees which pushed the
total expenditure by 5.7X and stood at Rs 664 crore in the last fiscal year.
● Transaction and other related charges show 17.5X to Rs. 76 Cr FY22 while in
FY21 the expenditure is only Rs. 4Cr.

58
 CHAPTER-05
FINDINGS AND SUGGESTIONS
[Type here]

5.1 FINDINGS

⮚ The Indian stock market has witnessed significant growth over the years, driven by the
factors such as economic development, increasing investor participation, and policy
reforms.
⮚ The benchmark indices in India, such as the BSE Sensex and NSE Nifty, have shown
positive long-term trends.
⮚ Like any other stock market, the Indian stock market experiences fluctuations and
volatility. Market movements are influenced by various factors, including domestic and
global economic conditions, corporate earnings, interest rates, geopolitical events, and
investor sentiments.
⮚ Different sectors within the Indian stock market exhibit varying levels of performance.
Some sectors that have shown notable growth in recent years include information
technology, pharmaceuticals, consumer goods, and financial services. However, the
performance of the sectors can vary over time.
⮚ The growth has been accompanied by a rise in the number of demat accounts and retail
trading activity.
⮚ The Securities and Exchange Board of India (SEBI) plays a crucial role in regulating
and overseeing the Indian stock market. SEBI has introduced various reforms and
measures aimed at enhancing transparency, investor protection, and market integrity.
⮚ Investors often review a mutual fund’s historical performance to assess its track record.
This includes analyzing the fund’s returns over different time periods and comparing
them to relevant benchmarks and peer funds.

57
[Type here]

5.2 SUGGESTIONS

⮚ Take the time to explore and understand the features and functionalities of the Groww
platform. Familiarize yourself with the various investment options available, such as
mutual funds, stocks, gold, and more.
⮚ Define your investment goals and time horizon. Whether you’re saving for retirement,
a down payment on a house, or your child’s education, having clear goals will help you
make informed investment decisions.
⮚ Customer awareness through educative and informative Blogs and eBooks.
⮚ Instant and paperless online account opening.
⮚ Understand your risk tolerance and investment preferences. Groww may provide tools
and questionnaires to help assess your risk profile.
⮚ Consider your comfort level with market fluctuations and choose investment options
that align with your risk tolerance.
⮚ Utilize the research and analysis tools provided by Groww. Conduct thorough research
on the investment options you’re considering, such as historical performance, expense
ratio, and underlying assets. Leverage the available data and insights to make well-
informed investment decisions.
⮚ Groww may provide portfolio tracking and analysis tools to help you diversify
effectively.
⮚ Regularly monitor the performance of your investments on Groww.
⮚ Stay updated on market trends, news, and events that may affect your investment
portfolio. Review your portfolio periodically and consider rebalancing if needed to
maintain your desired asset allocation.
⮚ While Groww offers a user-friendly platform, consider seeking professional advice
from a qualified financial advisor for personalized guidance tailored to your specific
financial situation and goals.
⮚ These suggestions are general in nature, and it’s important to carefully evaluate your
own financial circumstances and risk tolerance when using any investment platform.
⮚ Always read the platform’s terms and conditions, consult official sources, and consider
professional advice before making investment decisions.

58
[Type here]

5.3 CONCLUSION

Based on the study, it is found that Groww Ltd is a better service provider than the other
stockbrokers because of their timely research and personalized advice on what stocks to buy
and sell. Groww Ltd provides the facility of investment as well as a relationship manager
facility for encouragement and protects the interests of the investors. It also provides
information through the internet and mobile alerts that what IPOs are coming into the market,
and it also provides its research on the future prospect of the IPO.

The company also organizes seminars and similar activities to enhance the knowledge of
prospective and existing customers, so that they feel more comfortable while investing in the
stock market. Most of the customers are very happy with the offers and schemes. Some
customers are concerned about Margin money and Brokerage charges. But according to most
of the customers are highly satisfied with the Groww Ltd. As Groww Ltd. customers are
satisfied organization shall increase promotional activities to spread good word of mouth about
Groww Ltd.

From the analysis, we can conclude that the Indian stock exchange is synonymous with
National Stock Exchange and the Bombay Stock Exchange. Both act as vital components of
the country’s financial system and economy. It provides a platform for companies to raise
capital and for investors to buy and sell shares of those companies. Today, they are well-
regulated a play a crucial role in the growth and development of India’s corporate sector.
Despite facing challenges and volatility at times, the BSE & NSE continue to be a key driver
of economic activity in the country and a popular destination for investors.

59
[Type here]

5.4 BIBLIOGRAPHY

Book:

✔ Donald E. Fischer and Ronald J. Jordan (1995) Security Analysis and Portfolio
Management, Prentice Hall 6th Edition.
✔ Graham Benjamin, (1965) The Intelligent Investor, HarperCollins Publishers Inc.,
New York, Fourth Revised edition.
✔ Natarajan, (2005), Investment Management, Margam Publications, Chennai.
✔ Punithavathy Pandian (2013), Security Analysis and Portfolio Management Vikas
Publishing House Pvt Ltd, Bengaluru.
✔ Vashisht A.K, Gupta R.K (2005), Investment Management and Stock Market, Deep
& Deep Publications Pvt. Ltd, New Delhi.

WEBSITES, WHICH ARE USED TO GATHER INFORMATION

✔ Wikipedia
✔ [Link]
✔ [Link]

60
[Type here]

Annexure-

Q.1 Which Gender do you identify yourself with?

a) Male
b) Female

Q.2 Age Group?

a) 20-30
b) 30-40
c) 40-50
d) 50-60

Q.3 What is your opinion about the shares?

a) If offers an investment facility

b) It makes earn quick profit/gain
c) It is part of an investment
d) It offers easy Liquidity

Q.4 How did you come to know about Groww Ltd. Online trading shares?

a) Shares Brokers
b) Friends
c) Bankers
d) Online Advertisement

Q.5 How frequently do you invest in Shares?

a) Daily

61
[Type here]

b) Monthly
c) Every 3 months
d) Others

Q.6 Have you ever felt dissatisfied with any of these services of our company
Groww Ltd?

a) Slow Operation
b) Delayed Correspondence
c) Inaccessibility to the service
d) Fund transfer facility

Q.7 Are you satisfied with the brokerage charges of transactions when
compared to the other competitors in the market?

a) Highly satisfied
b) Satisfied
c) Moderate
d) Dissatisfy
e) Highly dissatisfied

Q.8 Are you satisfied with the option BTST/DELIVERY (buy today sell
tomorrow) provided by the company?

a) Yes
b) No

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Q.9 What is your view on the Equity Market?

a) Bullish
b) Bearish
c) Not Sure

Q.10 Are you satisfied with the overall services provided by Groww Ltd?

a) Highly Satisfied
b) Satisfied
c) Moderate
d) Dissatisfied
e) Highly Dissatisfied

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