THE HINDU BUSINESS LINE
Financial Daily
from THE HINDU group of publications

Wednesday, October 25, 2000

• AGRI-BUSINESS
• BANKING & FINANCE
• COMMODITIES
• CORPORATE
• INFO-TECH
• LETTERS
• LOGISTICS
• MACRO ECONOMY
• MARKETS
• MONEY
• NEWS
• OPINION
• VARIETY
• EWORLD
• INFO-TECH
• CATALYST
• INVESTMENT WORLD
• MONEY & BANKING
• LOGISTICS

• PAGE ONE
• INDEX
• HOME

Corporate | Next | Prev


Moneypore.com services for Anagram investors

Our Bureau

MUMBAI, Oct. 24

ANAGRAM Securities, part of the Rs 2,000-crore Sanjay Lalbhai group, plans to bring moneypore.com to its investors and brand its stock broking service.

Moneypore.com, the online retail stock broking service portal from Anagram Securities, has embarked on a offline expansion plan. For this, it has drawn up a two-pronged strategy for geographical/offline expansion.

Moneypore.com, which currently has 12 branches, including branches at Ahmedabad, Baroda, Chennai, Coimbatore, Hyderabad, Mumbai, Nagpur, New Delhi and Pune, plans to extend the network to over 20 centres. This is expected to be achieved by the year-end.

The geographical expansion would add about 30 trading terminals to the existing network of over 100, taking the total to about 130 trading terminals in major cities. ``Moneypore.com has taken a hybrid route of setting up its own branches and the branches in turn set up their own sub-broker network,'' moneypore.com Chief Executive, Mr Darshan Mehta, said.

The branch network is necessary to provide brick-and-mortar (physical) service to investors as stock broking remains a highly personalised service. With over 5,000 retail clients and aggregate volume of over Rs 17,000 crore for the year ended March 2000, ``moneypore.com aims to become one of the largest retail stock broking, online and offline, service provider,'' Mr Mehta said. In terms of number of clients, moneypore.com is perhaps one of the largest retail brokerage portal.

The online service has received encouraging investors' response and has been attracting over 50,000 page impressions daily. The online service also provides research and recommendations on specific stocks. It has recently introduced spot-payment against sale of dematerialised shares. The spot-cash product, launched initially in Ahmedabad, would soon be introduced in Mumbai, Chennai and other centres.

Related links:
Anagram to launch Moneypore.com

Comment on this article to BLFeedback@thehindu.co.in

Send this article to Friends by E-Mail


Next: Tayal group to expand spinning capacity
Prev: Fitch downgrades Greaves' CP
Corporate

Agri-Business | Banking & Finance | Commodities | Corporate | Info-Tech | Letters | Logistics | Macro Economy | Markets | Money | News | Opinion | Variety | eWorld | Info-Tech | Catalyst | Investment World | Money & Banking | Logistics |

Page One | Index | Home


Copyrights © 2000 The Hindu Business Line.

Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line.