Stock Broking business commenced operations with a corporate membership in NSE in the cash segment in 1996. Membership in the derivatives segment in the NSE was acquired in 2003.
The Business has expanded into the commodities market with a trading-cum-clearing membership in the Multi Commodity Exchange (MCX) and the National Commodities and Derivatives Exchange (NCDEX) through a 100% subsidiary.
Stock Broking business is firmly focused in the rapidly growing High Networth Individual (HNI) and Retail space. The business has an active client base of 0.2 million.
The business operates through 1000 branches with equal no. of trading terminals.
The business model of Stock Broking largely focused on owned branches in the initial years and has now graduated into the franchisee mode of expansion that will cater to PAN India target market. Rapid expansion has been made possible in this two-pronged strategy of owned and franchisee outlets and is expected to have an end-state distribution, networking over 5000 branches.
As the business starts targeting the next level of mass affluent customers, expanding into wealth management and advisory space, same would also become a key thrust area that can potentially enhance profitability and shareholder value in the medium term.
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