The Hindu Business Line : Karvy Comtrade to cover all mandis

Hyderabad, Nov. 6 Karvy Comtrade, a Karvy group venture, has identified 150 mandis and commodity-specific markets across the country to set up its branches.

“We see a good potential in the physical markets. Of the 150 mandis, we are present in 75. We are going to cover 60 more mandis this financial year,” Mr Ashok Mittal, Vice-President and Country Head, told Business Line.

Karvy Comtrade, which has a network of 260 branches with 400 people in 180 cities and towns, has 40,000 clients.

The company has a market share of 2 per cent (or about Rs 700 crore) in the daily trading volumes of Indian commodity markets.

Mr Mittal said there was increased participation from the retail investors. “Despite bans and suspensions on trade in certain commodities, the volumes are growing. This signals increasing interest among the investors,” he said.

He, however, said the scope of the market at present was restricted. “Non-availability of indices and options is a big challenge. Absence of foreign institutional investors and banks too hamper the pace of growth,” he felt.

More Stories on : Commodity Markets | Commodity Exchanges

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
NMCE gold guinea contract

North-East monsoon vigorous over South

Sustainable farming

Spot rubber rules steady

Participatory management model a great success in Munnar: Ratan Tata

Dairy exports turn viable as global prices recover

Pepper futures fall sharply on selling pressure

Karvy Comtrade to cover all mandis

Flower show in Hyderabad