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Our Bureau

Mangalore , Dec. 12

THE stock broking company Sharekhan Ltd is planning to ink agreements with some of the leading banks in the country to provide online trading facility to bank customers.

Addressing presspersons here on Monday, Mr Saravanan, Head, Southern Region, said that Sharekhan already has an agreement with Union Bank of India to provide online trading facilities for its customers.

"Now the company is planning to have such tie-ups with some of the major banks in the country. One such tie-up is likely to be materialised with a private sector bank in two weeks' time," he said.

Such tie-ups will not entail any additional investments to the banks. Banks can save on investments on setting up online trading infrastructure, he said.

Sharekhan's recent agreement with Union Bank of India has helped the bank's customers to establish connectivity with the company's services. The service is targeted at the bank's customers who invest and trade in shares.

Stating that online trading in stocks is growing phenomenally, Mr Saravanan said 10 to 12 per cent of the total trading is being done online.

Sharekhan, which has around 1.5 lakh customers, is planning to add another two lakh customers during the year on a pan-India basis.

Mr Saravanan, who was in Mangalore for the inauguration of the 54th branch of Sharekhan, said that the company will open another 10 branches - covering all the major centre in the State - in the next one year.

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