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Samco Securities sees biz turnover of Rs 10,000cr/day in 3yrs

Press Trust of India  |  New Delhi 

Online discount stock broking firm Samco Securities expects the daily turnover through its platform to increase to Rs 10,000 crore in next three years.

The current daily turnover from its platform stands at about Rs 2,500-3,000 crore per day.

"We expect Rs 10,000 crore turnover per day in next three years from present turnover of Rs 2,500-3,000 crore daily turnover", company's Chief Executive Officer Jimeet Modi said during an interaction here.

The Mumbai-based trading broker provides a flat fee based service, offering trade facilitation at Rs 20 per transaction for any amount of investment be it Rs 10,000 or Rs 10 crore.

Samco today launched its Cash Plus facility that will offer customers the margin funding facility, which means it' it top-up the investment amount of a customer by providing them loan.

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partners b-school to promote financial literacy * Multi Commodity Exchange of (MCX) today said it has signed an MoU with Mumbai's N L Dalmia Institute of Management Studies and Research to provide financial literacy in commodity derivatives to the institute's students.

The initiative is aimed at imparting knowledge about commodity price risk management and derivatives market, which would empower and open new vistas for the students in the direction of financial skill development, said in a statement.

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Daimler ties up with TMB for vehicle finance * Daimler Commercial Vehicles (DICV) today said it has tied up with Tamilnad Mercantile Bank (TMB) for vehicle finance.

The company has inked a Memorandum of Understanding (MoU) with Tamilnad Mercantile Bank (TMB) to provide financing packages to customers across the country for its trucks and buses, DICV said in a statement.

"This is another important step to further strengthen the BharatBenz brand's presence in Southern India. Tamilnad Mercantile Bank has a strong footprint where our dealers and customers are located in the region, with over 80 per cent of TMB's branches situated in semi-urban and rural areas," DICV Managing Director and CEO Erich Nesselhauf said.

First Published: Thu, February 18 2016. 17:48 IST