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Geojit to set up broking firm in Saudi

Our Bureau

Mumbai , March 8

Geojit Financial Services Ltd, a leading retail stock and commodity brokerage, is setting up a joint venture broking company in Saudi Arabia.

The joint venture company will have tie-ups with local partners, subject to all necessary regulatory approvals. In a communiqué to BSE, Geojit said its board approved the proposal on Tuesday.

Kochi-head quartered Geojit Financial Services has also decided to take membership in the Dubai Financial Market (The Dubai Stock Exchange) by incorporating a broking company in the UAE. In this venture too, the company will have "appropriate tie up" with local partners.

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