Religare launches web portal for investment platform

New Delhi, May 2 (UNI) Religare Enterprises Ltd, the financial services wing of Ranbaxy Promoter Group, today launched its new portal to cover all the monetary needs for its customers along with 'trade rewards' on each investment.

''The 360-degree web portal www.religareonline.com is an investment platform that not only allow the customers to invest in equities, commodities and IPO's mutual funds but also earn trade reward on them,'' Religare Securities Ltd President (Equity) Amitabh Chakraborty told reporters here.

Talking to UNI, he said, ''We have no hidden cost and charge zero per cent brokerage fees,'' addding that the customers have to pay fixed monthly charges to carry out certain minimum transactions.

He further said the investment tips based on research will be provided to customers irrespective of their investment volume.

Religare Securities Ltd Head (Internet trading) Gurpreet Sidana said, ''We even pay interest on cash while the customers wait to make their next investment online, so that money never lies idle.'' He also revealed their plan to tie up with one of the leading banks in the next few weeks and provide their services to all the customers of the bank.

Religare which contributes about four per cent of the combined volumes of the National Stock Exchange and the Bombay Stock Exchange, targets to achieve eight to 10 per cent in the future.

''We aim to increase the volume to eight to 10 per cent in the near future,'' Religare Enterprises Ltd Group Chief Operating Officer Sachindra Nath told UNI.

Religare's retail equity broking operations are spread over 320 cities and towns and carries out from more than 900 locations across the country.

Recently, the company has also partnered with AEGON, one of the largest insurance and pension companies globally, to offer life insurance and mutual fund products in India.

UNI