IDBI Capital Market Services, a wholly owned subsidiary of Industrial Development Bank of India expects to enter the commodity trading market. Currently, the company trades in government securities, corporate bonds, stock broking, derivatives and pension fund management among others. | |
| Addressing mediapersons on the launch of its online investment portal in Chennai, S Muhnot, managing director and CEO, IDBI Capital Market Services, said that the company has filed an application with the Reserve Bank of India three months ago, to enter the commodity exchange. At present, banks are not allowed to directly enter the commodity trading market. |
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| He pointed out that hardly two per cent of the Indian household investments go into shares and debentures presently. |
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| The key reasons for the low awerness among households, is the lack of proper information on shares of companies and risk involved is higher. |
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| IDBI Capital has launched its online investment portal called 'idbipaisabuilder' to enable the retail investor with the information and analysis tools to utilise it for their investing needs. The portal allows investing online in equities, mutual funds and initial public offerings through a Paisa Power Classic account and Paisa Power Streaming account. |
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| Paisa Power Streaming account has been designed for active investors with a more features such as live streaming quotes tick-by-tick, multiple market watches, message window trading in a single screen. Paisa Pwer Classic account is simple and easier to use for investors who are relatively new to investing. |
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| The online portal provides information of 4,500 listed companies five year balancesheet and profit and loss account. The custom stock screener provides details of stocks on 20 different parameters and an option to select any six parameters simultaneously. |
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| Average daily turnover from online trading was over Rs 700 crore during September compared to Rs 200 crore as on March 2004. |
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