Religare Securities has launched a revamped online trading portal for its customers to tap huge potential in the financial sector.
Religare Securities has launched a revamped online trading portal for its customers to tap huge potential in the financial sector.
"We see huge potential in the financial services sector growth, which is yet to be tapped. Financial services market was valued at Rs 2,886 crore in 2012 and is expected to grow by 25 per cent and reach to Rs 3,607 crore by the end of year 2013-14," Religare Securities capital markets and wealth management chief executive Basab Mitra told reporters in Mumbai on Tuesday.
The user-friendly new portal will provide information on various asset classes with great ease to its investors. It will show integrated trading and back office reports from a single window. It will also help traders to trade anywhere, anytime by using desktops, smart phones or tablets.
Total individual wealth in India is expected to grow by approximately 300 per cent to Rs 249 lakh crore by FY16 from Rs 86.5 lakh crore in FY11. Individual wealth in equities is also expected to reach 37 per cent in India in FY'16, against 30 per cent in FY'11, Mr Mitra said.
Alternative assets - including structured products, private equity and venture capital funds, gold ETFs, and realty, film and art funds - are expected to grow at a rapid pace of 100 per cent per annum.
Mr Mitra also pointed out that growth potential in the online and mobile-based trading space is immense, with the increase in internet user base, internet penetration rate and e-commerce conversion ratio.
E-commerce in India has evolved over the past decade and was valued at Rs 47,349 crore in December 2012 and is expected to grow by 33 per cent and reach Rs 62,967 crore by the end of 2013.
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