Mumbai, March 8
Geojit Financial Services Ltd, a leading retail stock and commodity brokerage, is setting up a joint venture broking company in Saudi Arabia.
The joint venture company will have tie-ups with local partners, subject to all necessary regulatory approvals. In a communiqué to BSE, Geojit said its board approved the proposal on Tuesday.
Kochi-head quartered Geojit Financial Services has also decided to take membership in the Dubai Financial Market (The Dubai Stock Exchange) by incorporating a broking company in the UAE. In this venture too, the company will have "appropriate tie up" with local partners.