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Religare Securities today launched a revamped online trading portal for its customers to tap huge potential in financial sector.
The new portal will provide information on various asset classes with great ease to its investors. It will show integrated trading and back office reports from a single window. It will also help traders to trade anywhere, anytime by using desktops, smartphones or tablets.
"We see huge potential in the financial services sector growth, which is yet to be tapped. Financial services market was valued at Rs 2,886 crore in 2012 and is expected to grow by 25% and reach to Rs 3,607 crore by the end of year 2013-14," Religare Securities Capital Markets and Wealth Management CEO Basab Mitra told reporters here.
Total individual wealth in India is expected to grow by approximately 300% to Rs 249 lakh crore by FY16 from Rs 86.5 lakh crore in FY'11. Individual wealth in equities is also expected to reach 37% in India in FY'16, against 30% in FY'11, Mitra said.
Alternative assets - including structured products, private equity and venture capital funds, gold ETFs, and realty, film and art funds - are expected to grow at a rapid pace of 100% per annum.
Mitra pointed out that growth potential in the online and mobile-based trading space is immense, with the increase in Internet user base, internet penetration rate and e-commerce conversion ratio.
E-Commerce in India has evolved over the past decade and was valued at Rs 47,349 crore in December 2012 and is expected to grow by 33% and reach Rs 62,967 crore by 2013-end.
