Visakhapatnam-based stock broking company Steel City Securities Limited (SCSL) is planning to open 10 more branches during the current fiscal, G Raja Gopal Reddy, SCSL executive director, said.
SCSL currently has 250 branches in the four southern states, of which Andhra Pradesh accounts for about 85 per cent. In the last three months, SCSL had opened new branches at Bhubaneswar, Kurnool and Karur (Tamil Nadu) among other places.
Though SCSL trading turnover fell by 30-35 per cent, Reddy said the volatile stock market had not impacted the company much. “We depend on small retail clients therefore, our trading turnover has not been affected badly.”
The company’s trading turnover is about Rs 300 crore a day, he said.