The Hindu Business Line : JRG to open branches in rural pockets

With a major focus on commodity futures, JRG Securities Limited plans to open more branches in the rural and semi-urban pockets of the country. The company which opened its 400th branch in Ahmedabad, planned to further extend its footprint over the states of Gujarat, Rajasthan, Madhya Pradesh, Maharashtra and West Bengal, in the coming months.

Reinforcing its presence in the western parts of the country will enable better price discovery mechanisms for crops like jeera, cotton, castorseed, castor oil and gaur seed, and enable better price realisation by the farmers and traders, Mr Giby Mathew, Executive Director of JRG Securities said.

GREATER SHARE

The major focus on commodity futures has enabled the company to capture greater market share from the emerging commodities segment.

Commodities trading, which contributed 10 per cent of the company's total revenue as on December 2004 has gone up to 30 per cent on December 2005. The focus of the company will continue to remain in the rural and semi-urban pockets of the country, where it has a very strong presence. Almost 70 per cent of JRG branches are presently located in rural and semi-urban pockets.

PUNJAB'S CONTRIBUTION

With the immense support as well as demand from the people and local trading community, the JRG branch network in a State like Punjab has shot up to around 50, in just over nine months, Mr Giby Mathew said. In the last six months, Punjab contributed close to a fifth of the company's total commodity futures trading volume.

"We have embarked on a rapid expansion to ensure that India's investing public get global financial services. We expect huge volumes of trade, especially on commodities from strategic states like Gujarat," Mr Regi Jacob, Managing Director of JRG Securities said. The company plans to increase its branch network to 1200, while retaining its focus on commodities and the rural semi-urban customers.

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