Our Bureau

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.

(This article was published in the Business Line print edition dated March 9, 2006)
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