Financial Daily from THE HINDU group of publications
Saturday, Aug 20, 2005
Financial Daily from THE HINDU group of publications Saturday, Aug 20, 2005 |
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Markets
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Financial Services BLB Group to expand services Nithya Subramanian
New Delhi , Aug. 19 THE New Delhi-based securities trading company BLB Group is in expansion mode. After being an aggressive player in jobbing and arbitrage, the company is now planning to double its daily trading turnover from Rs 1,000-1,200 crore to Rs 2,000-2,200 crore. Speaking to Business Line, Mr B.R. Bagri, Chairman and CEO, BLB Group, "We are putting in place an investment division and a customer division. The investment division will look at value investing while the customer division will service FIIs, mutual funds, financial institutions and high net worth individuals." BLB's increasing its present dealers base from 250 to 450 by March next year. The company in its ongoing automation program has developed an Automated system-trading platform. In order to access customers it is setting up a school of financial markets. "We hope that a large number of our students will eventually become our clients, thus having access to a captive audience," he added. The Group has picked up 50 per cent stake in Agroecommerce Network (P) Ltd, an agro-based portal. The portal provides low-cost technological platform to various institutions, marketing companies, NGOs and service providers. It is also providing multifaceted integrated services, intranet solutions to farmers/intermediaries to suffice their needs and is in the process of integrating 5 million farmers across the country by the end of year 2008. Through all these initiatives, the company hopes to increase its profit by about four-fold in the next three years. From an estimated Rs 9 crore profit in 2006, it plans to increase it to Rs 35 crore by 2008.
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