Angel Broking to recruit sub-brokers

Mumbai-based Angel Broking Limited, which is into equity and commodities trading, is betting big on Andhra Pradesh for commodities futures market.

Speaking to media persons in connection with an investors meeting here on Friday, Rajiv Phadke, advisor, business development of the company, said that Andhra Pradesh has the potential to emerge as the top destination for commodities futures market in Southern India.

He said that the company, which already has a 40-member sub-broker network in the state is going to double the number in the next six months. "Our ultimate plan is to have at least one sub-broker in each taluk of the state," he said.

About 30 per cent of the state's 750 clients of Angel Broking are into commodities futures trading, Rajiv added.