The Hindu Business Line : Angel Broking plans more branches in South

Angel Broking is planning to open 11-12 more branches in South India before the end of the financial year, four of them in Andhra Pradesh, in addition to the existing network of 126 sub-brokers and franchisees in the State, according to Mr S. Raja, the Director of the Southern region.

He was speaking at a press meet here on Friday evening before an investor's meeting. He said the company at present had branches in Hyderabad, Secunderabad, Vijayawada and Visakhapatnam. "We are planning to set up branches at Guntur, Nizamabad, Tirupati and Nellore. Investors in Andhra Pradesh are active both in the capital and commodity markets. We want to serve them better," he said.

Mr Shiva Shankar, Regional Manager, said Angel had entered Andhra Pradesh two years ago and made rapid strides. "We have a client base of 5,600 and we want to expand it quickly by offering quality advice to our customers," he said.

Mr Raja said, Angel had launched an e-broking platform and is serving more than 1.6 lakh customers throughout the country.

"Our commodity markets are in the nascent stage. They will mature and then the volumes would really shoot up," he said.

He said the company's daily volumes were of the order of Rs 1,500 crore and the aim was to increase it to Rs 2,500 crore in the next eight to ten months.

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