See mobile trading booming in future:

J Kishore Kumar, MD, says discount broking has helped increase penetration in the market. Moreover, government’s programmes like Digital India, Jan-Dhan Yojana will help further penetration into rural India. has broken the traditional barrier of percentage brokerage and instead empowers the trader to be self-dependent with the power of the Internet or mobile. It charges Rs 20 per executed order irrespective of the transaction value.

According to him mobile trading will be the medium of future for retail investors and with further penetration he envisages an explosion in growth of clients.

As on date there are 24 million Demat accounts in India and excluding multiple accounts held by clients, it would be around 17-18 million. Annually two million accounts are added. However, if we compare it to China, which has added 40 million accounts in one year there is tremendous opportunity for growth, says Kumar in an interview to CNBC-TV18.

The company so far has seen a 100 percent growth year-on-year and expect to maintain this growth rate for the next 3-4 years, says Kumar. He expects to post a Rs 2 crore bottomline this year.

Talking about market levels, Kumar says Nifty is likely to consolidated between 8300 and 8800 in the short-term before making new highs.

The market is already in a multiyear bull market since 2013 and currently is going through a time correction, he adds.

Stock specific, the house is bullish on Reliance Industries.


Source: MoneyControl

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