The Hindu Business Line : Stock broking firms go the extra mile

The cup of choices is overflowing for investors in Kolkata, thanks to the sudden flurry of activity unleashed by the local stock broking fraternity, which is going that extra mile to tap opportunities that are evidently arising here in good numbers.

Some broking outfits, many of them harbouring hopes of expanding their network to cover more centres, have started offering portfolio management services, while others are turning to e-broking to woo new clients. Some have also started to devise schemes marked by lower transaction costs, courtesy one-time payments for fixed durations.

Investment circles in the city attribute the trend to ambitious plans worked out by brokers who have lately seen a marked increase in competition. Notably, a number of national players — many of whom have established a firm foothold in the local market — have started recording higher business volumes here.

As Mr Vijay Kothari, Regional Manager, Angel Broking, said, the size of the pie has grown in recent times, a trend that has extensively benefited Kolkata's investors. "We have definitely moved from a situation where good broking services providers were not too many... in the current context, the quality of services offered to clients is already a major differentiator," he said.

A fresh crop of portfolio management services are also being offered these days, it is pointed out. While these are surely not becoming trendsetters overnight, the PMS providers claim that they will be able to attract far greater interest in the days ahead. Among the new entrants into this space is the relatively-unknown Guiness Securities, which has recently received its licence. The company has also launched an online trading platform.

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