MUMBAI:HDFC Securities, a unit of HDFC Bank, plans to expand its presence to another 50 new branches in addition to its existing 250 branches in 185 cities, the new Managing Director and Chief Executive, Dhiraj Relli said here on Friday.
The new branches will add 20% new geographies for HDFC Securities, as also include next generation trading platform. It is one of the top four such units including those run by ICICI Bank, Kotak Mahindra and Axis Bank. The four subsidiaries of the private sector banks account for more than half the trading for retail investors.
Over the last year, HDFC Securities added about 30% more investors in addition to its normal growth as a boom in stock markets attracted more investors. About half of its trades happen over the Internet, while 12% on the mobile.
“The outlook for mid to long-term horizon looks optimistic, though there could be pain in the short run,’’ said Relli, adding that approval of bills in the Parliament session, normal monsoon are among factors that will guide the course of the market. Exports too have dipped by a fifth, though it has matching decline in imports too.
To expand its reach and rope in more investors, it launched a mobile trading Apps with options of 11 languages , including Hindi, Tamil, Telegu, Malayalam, Kannada, Oriya, Bengali, Marathi, Assamese, Punjabi and Gujarati.