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Assuming that user who is going to signup is not having any ethereum account so how can I generate a public, private key and address for ethereum and make use of it to make further transactions. Users of my portal are not expected to have one ethereum account.

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You can use https://github.com/ethereumjs/ethereumjs-wallet to create locally in JavaScript an Ethereum wallet. You can store this wallet to a encrypted file. Your user logs in into the application by locally uploading this file and providing the password for the encryption of the keystore.

See "How should I secure a private key in my dapp?" for more examples how you can implement the login to your DAPP.

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