The Hindu Business Line : Tata Securities all set to enter retail broking

Mumbai, Feb. 6 The Tata group is all set to enter the retail equity broking business in a big way. Tata Securities Ltd, which is currently doing institutional broking, plans to roll out over 100 retail branches in the next six months.

The company, a wholly owned subsidiary of the recently formed Tata Capital, will launch retail broking in the next three months. Initially, Tata Securities will share the branch network of Tata Motor Finance Ltd, the vehicle-financing arm of Tata Motors.

Tata Securities is already using the infrastructure facilities of Tata Motor Finance. “We will be leveraging TMFL’s network of 165 branches across the country,” said Mr Avijit Bhattacharya, head of Tata Securities.

Tata Securities’ plan to piggyback on Tata Motor Finance could easily be facilitated by its parent Tata Capital as it is headed by Mr Pravin Kadle, who was earlier with Tata Motors as executive director and is familiar with the branch network of TMFL.

TSL will also go in for franchisees and other alternative channels such as kiosks, Internet and call centres.

“Our aim is to be among the top five brokerage houses in the country with an all India presence including Tier-II and Tier-III cities in three years,” Mr Bhattacharya told a select group of reporters. “Our strategy is to leverage the Tata brand strength to position TSL as an investment partner of choice,” he said.

Besides equity broking, TSL is also selling third-party mutual funds and financial products.

The company also plans to enter commodity and insurance broking business, for which two separate subsidiaries will be set up, Mr Bhattacharya said.

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