Reliance Money launches ATA for choosing stocks

New Delhi, Apr 1: Reliance Money, the brokerage and financial services distribution arm of Anil Dhirubhai Ambani Group (ADAG), today launched an automated tool that will help investors choose stocks without manual broking.

''The Automated Technical Analysis(ATA) will provide automated simplified analysis that will inform the customer about shift in trends of different stocks in the Indian markets'', said Director and CEO, Reliance Money, Sudip Bandyopadhyay. The tool, in collaboration with the Canada-based Recognia, will tell the Reliance customers about shift in price movement and emerging trends that will help them to look up 'bullish' and 'bearish' notifications for any company thereby providing them an insight into the possible director for the scrip price, he added.

When certain movements of the stock prices occur it distributes notices that help recipients identify profitable trades and make timely transactions.

The technical services are available for introductory free seven-day trail period to Reliance Money users. After that, the company will charge a subscription of Rs 99 for three months or Rs 179 for six months or Rs 299 for a year.

The company has also received 'in-principal' approval for setting up a branch and offering investment advice in Muscat, Oman, said Mr Bandyopadhyay.

Apart from that the company is also targetting South East Asia covering Singapore and Malaysia, both of whom have a large chunk of NRI population includuing Kuwait, Baharain and Doha in the gulf.

The company will offer broking services, portfolio management services, mutual funds, free mobile portal and interactive chat facility initially to its customers in these regions.

Reliance Money, which has a strong reach of 20,000 touch points and 10,000 outlets across 4,000 towns, plans to increase its presence to 5,165 tehsils and double the number of outlets in the next six months, Mr Bandyopadhyay said.

UNI