Destimoney Securities eyes Rs 700-cr daily turnover by end-Mar

Mumbai, Feb 7 (PTI) Destimoney Securities, backed byleading growth capital private equity firm New Silk Route(NSR), today it plans to more than double its daily turnoverto Rs 700 crore from the present Rs 300 crore by end-March.

"We are launching a series of initiatives to bag morecustomers. We aim to achieve a daily turnover of Rs 700 crorefrom the present Rs 300 crore by end-March," DestimoneySecurities President Sudip Bandyopadhyay told PTI here.

The company, a player in the equity, currency andcommodity broking space, also offers portfolio management andwealth management services. "We plan to add 15 more branchesto our existing 16 by end-March," Bandyopadhyay said.

The company will come out with a series of initiativesaimed at customer acquisition. "Our plan is to targetdifferent customer segments with specific schemes," he said.

As a part of this plan, Destimoney today launched thecountry''s first No Brokerage Day'' offer to attract highvolume traders - an offer to customers to trade for five daysof the week and avail one''s day''s brokerage waiver.

"It is our constant endeavour to innovate and provideour customers with value-added offers and increased levels ofconvenience to trade. As a part of this, Destimoney Securitieshas launched this ''No Brokerage Day'' offer called ''5 DinKamaal, Ek Din Dhamaal''" Bandyopadhyay said.

Destimoney Securities is currently in the process ofinducting new shareholders - Dhanlaxmi Bank and a London-basedNRI billionaire, Raghuvinder Kataria, he said.

While Dhanlaxmi Bank has invested Rs 13 crore to pickup a 15 per cent stake, Kataria has put in Rs 22 crore for a26 per cent stake in the company.