MUMBAI, May 8, 2018 /PRNewswire/ --
- Game Changer Move to Drive Industry Volumes; Double Customer Base in 18 Months
Kotak Securities Ltd. (KSL) today announced its vision for the future of stock market investing in the presence of Vikram Limaye - Managing Director & CEO of National Stock Exchange. With an aim to become a catalyst in wealth creation for the nation and the common man, KSL today launched 'Free Intraday Trading' - a first of its kind offering that gives self-directed investors freedom from brokerage on intraday trades across cash, future and options segments at an annual subscription of Rs. 999/-. Further, investors get free access to KSL's research and robust technology platform for seamless and secure execution of trade transactions.
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Free Intraday Trading is KSL's innovation-led ambitious organic growth charter to double its customer base in 18 months. It will change dynamics of the broking industry as secondary market volumes will grow exponentially.
KSL's endeavour to boost retail participation in stock markets derives strength from the structural reforms initiated by the government - a stable and thriving IndiaStack, formalisation of the Indian economy (GST) and financial savings (less-cash digital India), which has led to significant growth in all forms of financial assets. Further, India has the potential to be a US$ 10 trillion economy by 2030.
Vikram Limaye, Managing Director & CEO, National Stock Exchange Ltd. said, "Though equity markets are well developed in India, only 5% of household savings finds its way here. Structural changes in the Indian economy have resulted in robust growth in all forms of financial assets including direct investments in capital markets. This aids capital formation, which in turn helps employment generation. I commend Kotak Securities for coming up with innovative products to improve retail participation."
Kamlesh Rao, Managing Director & CEO, Kotak Securities Ltd. said, "We have always believed in value creation for our stakeholders. Free Intraday Trading has all the right ingredients - technology, free research and cost economics, to deepen and widen equity markets as it will encourage retail participation and further aid channelling of savings into the formal system. As market intermediaries, the onus is on us to break barriers and help millions of Indians achieve their wealth creation goals through informed, friction-free access and in a cost efficient manner. Free IntraDay Trade will drive up market volumes as well, and a robust secondary market augurs well for wealth creation for India and the common man."
"Kotak Securities' is on the cusp of innovation led growth. With Free IntraDay Trade, we are embarking on a bold organic growth journey. We are aiming to double our customer base in 18 months," added Rao.
As a digital pioneer in the broking industry, KSL has invested in an ecosystem that facilitates economic and efficient trading experience to customers. Last year, KSL launched 'Chat to trade', 'Happy Hours', 'Happy Day' and 'Double or Quits'.
About Kotak Securities Limited
Kotak Securities Limited (KSL) is a wholly owned subsidiary and the stock broking arm of Kotak Mahindra Bank Limited. The broking company processes over 6,00,000 secondary market trades every day. KSL has a pan-India presence - 1,325 branches, franchisees representative offices, and satellite offices across 351 cities. KSL offers a wide range of financial products such as Stocks and Shares, Derivatives, distribution of IPOs, Mutual Funds and Insurance. For more detail, please visit https://www.kotaksecurities.com/
For Further Information, please contact:
Rohit Rao
Kotak Mahindra Bank
Phone: +91-22-6166-0001
[email protected]
Jaydeep Raval
Kotak Mahindra Bank
Phone: +91-22-6166-0001
[email protected]
Rakesh Sharma
[email protected]
91-98335-37679
Fortuna PR
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