Retail participation must rise to 10% from 2% at present, says Kapil Dev at launch of SAMCO's CashPlus facility

Aprajita Sharma  New Delhi     Last Updated: February 24, 2016  | 09:49 IST
Retail participation must rise to 10% from 2% at present, says Kapil Dev at launch of SAMCO's CashPlus facility
The cricketer turned venture investor holds 10 per cent stake in SAMCO Ventures, a holding company of SAMCO Securities. Photo: Reuters

Speaking on the sidelines of the launch of SAMCO Securities' CashPlus, a margin funding facility product, cricket legend Kapil Dev laid emphasis on expanding the retail participation in the stock market to at least 10 per cent from the existing less than two per cent.
 
Dev acknowledged the passive participation by retail investors generally results in money loss, which in turn builds negative sentiment around stock investing as a whole.
 
"Don't be emotional while dealing with stocks. Apply your head not heart to slowly and steadily make money in the market," Dev advised retail investors.
 
The cricketer turned venture investor holds 10 per cent stake in SAMCO Ventures, a holding company of SAMCO Securities.
 
Dev also emphasised on the need to do away with the middlemen, and advocate direct business to customer (B2C) dealings.
 
The Mumbai-based SAMCO Securities' CashPlus is one such effort to attract more retail investors to equity market. Under this service, investors can seek funding for equity purchases from the broking firm.
 
Typically, brokerages charge for the cost of execution, funding, research and advisory services, which clients have compulsion to pay for. That even if some of the bundled services are not consumed. On the other hand, discount brokers charge flat fee per trade. They, meanwhile, do not offer advisory and margin fund facility.
 
"With this initiative, SAMCO becomes the first and only discount brokerage in the country to offer margin funding facility to its customers," said broking firm in a press release.  
 
"Discount brokers till date were restricted to pure execution services and were unable to complete the entire service offering demanded by the customers. With our CashPlus product, customers can now keep their costs practically negligible, with complete freedom to pick and choose from an array of services that includes trading research and advisory," said Jimeet Modi, CEO, SAMCO Securities.
 
The brokerage had also launched Indian Trading League (ITL) in May last year, which it says is the country's first trading competition, the second edition of which will begin from April this year.

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