The News Scroll 02 June 2020  Last Updated at 5:03 pm | Source: PTI

Sharekhan to enter discount broking business

Sharekhan to enter discount broking business
(Eds: Correcting headline)

New Delhi, Jun 2 (PTI) Sharekhan, a full subsidiary of BNP Paribas, on Tuesday said it is entering the discount broking business through a new subsidiary.

The discount broker provides a platform to purchase and sell order at a reduced brokerage.

In a statement, the retail broking company said it is confident that full-service brand Sharekhan continues to be relevant for aspiring India.

The new company will be launched by using a beta-testing approach. Once the beta-testing step is done after receiving customer feedback, the launch of the project leap will take place during the second quarter of the current financial year 2020-21.

"Our approach is to have separate companies and brands for discount broking against full service as we believe that given India''s low penetration in equity markets, there is a lot of relevance for both sub-categories to grow," Jaideep Arora, chief executive officer of Sharekhan, said. PTI SP HRS

Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI
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