Mumbai-based retail stock broking house, Angel Broking, plans to set up 12 more centres in Andhra Pradesh in the coming months beginning with Visakhapatnam. Angel Broking established its first centre in Hyderabad about one-and-a-half-year back. It currently works with about 90 sub-brokers spread across the state and has a regional retail customer base of about 3,000. | |
| Speaking to mediapersons, Rajiv Phadke, advisor (business development & HR), Angel Broking, said, "The commodities market is growing faster than the equities market. Our total commodity business accounts for about 13 per cent and we expect it to grow to 20 per cent by the end of next fiscal." |
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| Angel plans to set up combined equity and commodity centres at places with strong agri-potential. "We plan to come up with these centres in mandi towns such as Guntur, Nizamabad and Rajahmundry," he said. |
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| The broking firm, with 100 per cent retail focus, recently organised a seminar to analyse the post-budget investment strategy for its retail investors. "Despite the fact that the Sensex crossed an all-time high of 11,000, there are many opportunities for the investors to gain by investing wisely in select stocks," said Dinesh Thakkar, chairman and managing director of Angel Group. "Many of the mid-caps should outperform frontline stocks in the coming weeks," he added. |
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| Angel Broking's daily business turnover is Rs 2,000 crore, of which about Rs 200 crore comprises commodity trading and about Rs 225 crore online trading. Angel currently services more than one lakh retail investors through a national network of 10 regional hubs, 36 branches and more than 2,000 intermediaries. |
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