Prudent CAS aims 100,000 SIPs by March 2011

Ahmedabad-based Prudent Corporate Advisory and Brokering Services is targetting 100,000 Systematic Investment Plans (SIPs) by March 2011.

The investment company, which recently expanded its branches to Bangalore and Chennai, has logged in 41,000 SIPs worth Rs 6 crore, as of September 2009. The company plans to generate total 60,000 SIPs by March 2009. "We recently logged in over 40,000 SIPs and plan to touch 100,000 SIPs by March 2011. The investor sentiments have been better this year as compared to last year, even if some people are still sceptical about investing in SIPs as most are waiting for correction," said Sanjay Shah, MD, Prudent Corporate Advisory Services Ltd.

Prudent has total 36 branches, of which 19 are in Gujarat. "60 per cent of our business is from Gujarat. In fact most of our branches are in the Western zone and we have just opened branches in South. We are also planning to launch our online broking platform and have got the license from BSE," Shah added.