Investment bank Anand Rathi has maintained there is no need for investors in India to fear over the possible repercussions the Goldman Sachs controversy is likely to have on the domestic markets. US market regulator last week had charged investment banker Goldman Sachs with fraud.
Anand Rathi Financial Service Limited Managing Director Amit Rathi said the domestic market already had tanked in the morning amidst the hullabaloo being created over the Goldman Sach fraud. He maintained the investors in India need not panic much.
Amit Rathi was here to talk on “Global Economic Environment and Financial Markets”. Commenting on the upcoming annual monetary policy statement by the RBI for 2010-11, which is due on April 20, Rathi said that the market was prepared for rate hike by 25 basis points (bps).
Anand Rathi is a full service investment bank offering a wide range of financial services and wealth management solutions to institutions, corporations, high–net worth individuals and families. The group has a long-standing and well entrenched franchise in retail and institutional stock broking, investment banking and private wealth management (PWM). The wealth management operations have assets under advice of $750 million (Rs 3,349 crore)across equities, fixed income and alternate asset classes. The group has expanded its footprint in over 350 locations across India with international presence in Dubai, Hong Kong and New York.
Anand Rathi plans to double the number of brokerage houses in the North by the end of this fiscal year. The company intends to have 25 ‘company-owned branches’ and 100 franchise-based branches in the North by end of this year. At present Anand Rathi has 12 company-owned branches and 50 franchise-based branches in the region.
