stock market info

[stock market info]

Will Commission Channel Partners to Further Penetrate the Market

Chennai, April 24, 2010: Angel Broking, one of India’s premium stock broking & wealth management houses, held its unique seminar “Life se Lifestyle tak” for aspiring entrepreneurs. Angel through its unique initiative hopes to stimulate conditions that sustainably enhance incomes for aspiring individuals dreaming to become successful entrepreneurs in life. The firm plans to hold such seminars every quarter to reach smaller cities and penetrate deeper into the market geographically. Angel has a strong & unique system to train and equip its sub-brokers to provide superior service to retails clients, helping them to achieve low operating costs while maintaining high service standards

Angel has the largest sub-broker network on the National Stock Exchange (NSE), with over 9000 sub-brokers. While the investment firm has expanded its network at a whopping rate of 59%, the gap with the closest-competing firm has also increased significantly.

Angel believes in growing along with its sub-brokers, franchisees and business partners and organized this inspiring orientation event (Life Se Lifestyle Tak) for entrepreneurs aspiring to be a part of its network in Chennai today. The widening of the channel-partner network is part of Angel’s ongoing aggressive retail expansion plan to reach smaller cities and to widen its client base. The event highlighted the benefits and support the retail brokerage provides to its channel partners through tangibles & frequent training programs on various products & services, processes and software. The event got an overwhelming response, with close to 100 participants wishing to be a part of Angel’s exciting growth story.

International Finance Corporation (IFC), a World Bank group subsidiary, has a 12.35% stake in Angel Infin, the holding company of the Angel Group. This is the first time ever that IFC has invested in the equity broking & wealth management space, with the firm conviction that Angel’s vision & business focus gels well with their own philosophy of spreading investor education.

Mr. Dinesh Thakkar, Chairman & Managing Director, Angel Broking said, “The outlook for equity in 2010, as an asset class, is quite encouraging, though its performance may not be as spectacular as it was in 2009 – this, after all, was a year in which, despite the global financial crisis in the first half, the market return was over 80%. Here, it is imperative to note that while 2009 was largely a recovery year for the excess market capitalisation that companies had shed earlier, 2010 will witness the markets tracking the fundamentals and earnings of corporate India. We expect Indian companies to record an Earnings’ CAGR of 16-17% over FY2009-12E, which will continue to boost the upward momentum of the indices. Further, the strong liquidity inflows are unlikely to die down on back of the strong fundamentals and quality of earnings produced by the India Inc, supported by reasonable valuations. To sum it up, I believe that a long-term uptrend in Indian Equities is well entrenched, and that in 2010 the markets will build on the gains made in 2009, thus investors should remain invested in equities and any signs of weakness should be used to enhance the exposure further.

On the business side, looking at the under-penetration of all financial products with our retail audience, we believe in increasing our presence in this segment by opening more offices across the country. We have plans to open 50 more offices this financial year. Over and above having our own network of offices, we believe that having a presence through business partners gives us greater penetration, effectiveness and better reach to our retail audience. We are the largest player in the B2B segment, with the highest number of sub-brokers in this country, and we will continue to focus on adding more partners in our continuing expansion programme. To meet our high aspirations of better reach to the retail market and to give consumers superior service, we have actively encouraged the growth and development of the sub-broker channel.

To maintain the highest standards of quality services we have a dedicated team under the Quality Assurance (QA) cell to train these intermediates on products, sales and operation procedures. They also have access to our research services to guide their customers. While the intermediates service the clients, our QA cell strictly monitors service standards benchmarks to ensure that we provide the best possible service to all our clients. This unique model has given customers the best of both worlds - the advantages of large and organized investment, as well as the personalized touch of a local broker. This has helped us all achieve our respective objectives, making it a win-win situation for everyone. To improve our high service standards we will continue to offer the best financial services and explore all touch points for our clients. In this regard, the expansion of our channel partner network remains our top priority.”