City based stock broker to open NRI desk in London

City-based stock broker and financial service provider has announced its partnership with TradeNext, UK based multi-asset broking firm to offer dedicated service to NRIs in the European city.
"MC Securities Ltd will be first of its kind standalone Indian stock broking firm to enter into such an alliance to service the NRI and Asian community in Europe. Initially, we are opening a desk at London and later we would expand our footprint to other European cities in association with TradeNext," MC Securities Ltd founder & CEO, Saumya Basu said.
He said earlier majority of the Indian stock broking firms who had ventured into the Gulf or other Asian markets but the vast European market remained untapped targeted primarily at retail level investors.

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Butterfly Gandhimathi Home Appliances Q2 net falls 77.9% * Home appliances manufacturer Butterfly Gandhimathi has registered a 77.9 per cent decline in net profits for the second quarter ending September 30, 2014, at Rs 1.47 crore, following increase in finance cost and marketing campaigns.
The Chennai-based firm registered Rs 6.67 crore in the corresponding quarter of previous fiscal,Butterfly Gandhimathi Home Appliances said in a filing at the stock exchanges.
The company said higher finance cost, increased advertisement and publicity expenses led to lower net profits for the period ending September 30, 2014.
Total income for the July-September 2014 period rose to Rs 156.07 crore from Rs 144.81 crore.