Seeking to complement its domestic target of doubling its Indian presence to 20,000 outlets this year, Anil Ambani group's Reliance Money has drawn out an aggressive expansion plan for the overseas market to set up shop in about half a dozen locations by the end the current fiscal year.
Reliance Money CEO Sudip Bandyopadhyay said the company will be setting up offices in six to seven strategic locations around the world in 2008-09.
Tuesday, April 8, 2008
Monday, April 7, 2008
Reliance Money to expand operations to the Sultanate of Oman
Reliance Money, the financial distribution company of the Reliance Anil Dhirubhai Ambani Group has received an ‘in-principle approval’ for setting up a branch and offering investment advice in the Sultanate of Oman. Reliance Money is the first Indian company to have received such an approval from the Capital Market Authority (CMA) Board, the regulator in Oman.
Mr. Sudip Bandyopadhyay, Director and CEO, Reliance Money said, “Having successfully launched our operations in the UAE, we now plan to offer cost-effective, quality financial products & services to our clients in the Sultanate of Oman. This is a part of our endeavor to reach out to the large NRI and PIOs in the Middle East.”
Reliance Money will initially launch its broking, and mutual fund distribution services. The company will also be offering a mobile portal that will allow users to get free real-time access to market information on their phones; in addition to real-time chat facility, with its experts, to get high quality market research and guidance to take an informed decision.
The company also plans to offer portfolio management services at an entry level of as low as $50,000.
Reliance Money, made its debut in the Middle East by launching its bouquet of cost effective and secure financial services in the UAE in February this year. “We plan to enter other Gulf countries like Bahrain, Kuwait and Qatar in the next 6-12 months,” added Mr. Bandyopadhyay.
Mr. Sudip Bandyopadhyay, Director and CEO, Reliance Money said, “Having successfully launched our operations in the UAE, we now plan to offer cost-effective, quality financial products & services to our clients in the Sultanate of Oman. This is a part of our endeavor to reach out to the large NRI and PIOs in the Middle East.”
Reliance Money will initially launch its broking, and mutual fund distribution services. The company will also be offering a mobile portal that will allow users to get free real-time access to market information on their phones; in addition to real-time chat facility, with its experts, to get high quality market research and guidance to take an informed decision.
The company also plans to offer portfolio management services at an entry level of as low as $50,000.
Reliance Money, made its debut in the Middle East by launching its bouquet of cost effective and secure financial services in the UAE in February this year. “We plan to enter other Gulf countries like Bahrain, Kuwait and Qatar in the next 6-12 months,” added Mr. Bandyopadhyay.
Reliance Money partners with Recognia Inc, takes broking to next level for retail customers
Reliance Money, the financial distribution company of the Reliance Anil Dhirubhai Ambani Group, today became the first and only Indian company to launch simplified and sophisticated Automated Technical Analysis on its platform for retail customers.
The company launched this initiative in partnership with Recognia Inc of Canada, leaders in chart pattern recognition and price forecasting through technology that analyzes the price action of stocks of all publicly traded companies and indicates new investment opportunities.
The partnership was announced by Mr Sudip Bandyopadhyay, Director and CEO, Reliance Money and Mr Rick Escher, President and CEO of Recognia at a conference here today.
“Technical analysis, till date, is a privilege available to institutions and HNIs and the Indian retail investors have been deprived of these tools so far. The addition of Recognia's sophisticated Automated Technical Analysis as an add-on feature on our platform will provide automated simplified analysis that will inform the customer about shift in trends of different stocks in the Indian markets” said Mr Bandyopadhyay
"Our automation and simplification of technical analysis is a good match for Reliance Money's commitment to offer qualitative tools to Indian investors participating in the stock market. Our daily analysis on over 55,000 instruments from 39 exchanges is helping millions of people in North America and Europe and we are excited to be working with Reliance Money to make it available to the investors and traders in India,” said Mr Escher.
Recoqnia’s Technical Analysis will allow Reliance Money users to identify customers about shift in price movements and emerging trends that will help them look up ‘bullish’ and ‘bearish’ notifications for any company thereby providing them an insight into the possible direction for the scrip price.
Recognia's Research is updated throughout every trading day - providing independent and objective notification of shifts in trends and changes in supply and demand that are otherwise not easily visible. When certain movements of the stock prices occur, Recognia distributes notices that help recipients identify profitable trades and make timely transactions.
Automated email notification will be sent to Reliance Money users based on personalized criteria, such as opportunity type, the price range or type of pattern desired, set by them. Subscribers will have the added benefit of receiving the daily ‘Top Bullish and Bearish Opportunities’ sent directly to them.
The technical services are available for introductory free 7-day trail period to Reliance Money users. Post the trail period, this service is available to users at a nominal subscription of Rs. 99 for 3 months/ Rs. 179 for 6 months/ Rs. 299 for a year, i.e., less than Re 1 a day.
Reliance Money is a comprehensive financial services and solution provider. Its endeavor is to change the way India transacts in financial markets and avails financial services. Reliance Money provides a single window, enabling customers to access, amongst others, Equity & Commodity Derivatives, Mutual Funds, IPOs, Life and General Insurance Products, Offshore Investments, Money Transfer, Money Changing, Gold Coins and Credit Cards.
Reliance Money is a group company of Reliance Capital – one of India’s leading and fastest growing private sector financial services companies, ranking among the top 3 private sector financial services and banking companies in terms of net worth. Reliance capital is a part of the Reliance – Anil Dhirubhai Ambani Group.
Established in 2000, Recognia’s proprietary pattern recognition technology is capable of recognizing patterns in the price charts of any publicly traded financial instrument including stocks, bonds, funds, commodities, currencies and indexes. These chart patterns are known to indicate trading opportunities. This ability has not previously been available and was a task that previously had to be performed manually, making it humanly impossible to monitor all stocks and all commodities on a continual basis. The Recognia system currently scans over 16,000 charts per day and this number is continually increasing as additional exchanges are added.
Recognia generates content in-house and licenses it to financial portals, online brokerages and other financial institutions. Some of its clients include Bloomberg, Thomson Financial, HSBC and TD Waterhouse, among others. Recognia products include quantitative data feeds, white-label Internet applications, email alerts, news wire feeds, and white-label market letters.
The company launched this initiative in partnership with Recognia Inc of Canada, leaders in chart pattern recognition and price forecasting through technology that analyzes the price action of stocks of all publicly traded companies and indicates new investment opportunities.
The partnership was announced by Mr Sudip Bandyopadhyay, Director and CEO, Reliance Money and Mr Rick Escher, President and CEO of Recognia at a conference here today.
“Technical analysis, till date, is a privilege available to institutions and HNIs and the Indian retail investors have been deprived of these tools so far. The addition of Recognia's sophisticated Automated Technical Analysis as an add-on feature on our platform will provide automated simplified analysis that will inform the customer about shift in trends of different stocks in the Indian markets” said Mr Bandyopadhyay
"Our automation and simplification of technical analysis is a good match for Reliance Money's commitment to offer qualitative tools to Indian investors participating in the stock market. Our daily analysis on over 55,000 instruments from 39 exchanges is helping millions of people in North America and Europe and we are excited to be working with Reliance Money to make it available to the investors and traders in India,” said Mr Escher.
Recoqnia’s Technical Analysis will allow Reliance Money users to identify customers about shift in price movements and emerging trends that will help them look up ‘bullish’ and ‘bearish’ notifications for any company thereby providing them an insight into the possible direction for the scrip price.
Recognia's Research is updated throughout every trading day - providing independent and objective notification of shifts in trends and changes in supply and demand that are otherwise not easily visible. When certain movements of the stock prices occur, Recognia distributes notices that help recipients identify profitable trades and make timely transactions.
Automated email notification will be sent to Reliance Money users based on personalized criteria, such as opportunity type, the price range or type of pattern desired, set by them. Subscribers will have the added benefit of receiving the daily ‘Top Bullish and Bearish Opportunities’ sent directly to them.
The technical services are available for introductory free 7-day trail period to Reliance Money users. Post the trail period, this service is available to users at a nominal subscription of Rs. 99 for 3 months/ Rs. 179 for 6 months/ Rs. 299 for a year, i.e., less than Re 1 a day.
Reliance Money is a comprehensive financial services and solution provider. Its endeavor is to change the way India transacts in financial markets and avails financial services. Reliance Money provides a single window, enabling customers to access, amongst others, Equity & Commodity Derivatives, Mutual Funds, IPOs, Life and General Insurance Products, Offshore Investments, Money Transfer, Money Changing, Gold Coins and Credit Cards.
Reliance Money is a group company of Reliance Capital – one of India’s leading and fastest growing private sector financial services companies, ranking among the top 3 private sector financial services and banking companies in terms of net worth. Reliance capital is a part of the Reliance – Anil Dhirubhai Ambani Group.
Established in 2000, Recognia’s proprietary pattern recognition technology is capable of recognizing patterns in the price charts of any publicly traded financial instrument including stocks, bonds, funds, commodities, currencies and indexes. These chart patterns are known to indicate trading opportunities. This ability has not previously been available and was a task that previously had to be performed manually, making it humanly impossible to monitor all stocks and all commodities on a continual basis. The Recognia system currently scans over 16,000 charts per day and this number is continually increasing as additional exchanges are added.
Recognia generates content in-house and licenses it to financial portals, online brokerages and other financial institutions. Some of its clients include Bloomberg, Thomson Financial, HSBC and TD Waterhouse, among others. Recognia products include quantitative data feeds, white-label Internet applications, email alerts, news wire feeds, and white-label market letters.
Thursday, April 3, 2008
Anil Ambani, Kotak eye commexes
NEW DELHI: The Reliance Anil Ambani group is believed to have decided to enter the commodity trading business by setting up a large exchange in the country as part of its plans to capitalise on the vast opportunities in this market.
Besides R-ADAG, another corporate giant Kotak group is also mulling over setting up a commodity bourse by acquisition of some regional exchange to get the platform and other technical support, sources close to the development said.
While Kotak group officials were not available for comments, the Reliance group declined to comment on any specific plans for entering into this business.
When asked whether the group might look at entering this business, Reliance Capital's brokerage and financial products distribution arm Reliance Money's CEO Sudeep Bandyopadhyay said on the sidelines of a conference here, "We are always open to any opportunity that come our way."
However, he did not comment on any specific plans regarding this new business. The group is already present in the commodity brokerage business through Reliance Money. Even as the group officials did not wish to comment, sources said the new business could have some existing bourses as well as a strategic associate as partners to gain technical, business and infrastructure support.
According to experts, this market could be in for a major overhaul with some large corporate houses waiting to start their own bourses.
Another emerging conglomerate Indiabulls group, which is present in businesses like brokerage, financial services, real estate, retail and power have already tied up with state-run trading firm MMTC to start a commodity exchange, for which it is awaiting necessary approvals.
These corporate houses are getting lured to huge growth potential in the Indian commodity market, which is already of the size of close to $1 trillion and could gain further scale given a continuing bull run across the world in this segment for over five years now, they added.
Kotak group has a strong presence in financial markets through its banking, brokerage and other businesses. ADAG is present across diversified businesses such as telecom, power, financial services, energy, infrastructure and media.
While it was not clear which existing exchange R-ADAG was looking at to gain the platform and infrastructure, sources said it may not be the bourses in Rajkot or Ahmedabad as rumoured.
Besides R-ADAG, another corporate giant Kotak group is also mulling over setting up a commodity bourse by acquisition of some regional exchange to get the platform and other technical support, sources close to the development said.
While Kotak group officials were not available for comments, the Reliance group declined to comment on any specific plans for entering into this business.
When asked whether the group might look at entering this business, Reliance Capital's brokerage and financial products distribution arm Reliance Money's CEO Sudeep Bandyopadhyay said on the sidelines of a conference here, "We are always open to any opportunity that come our way."
However, he did not comment on any specific plans regarding this new business. The group is already present in the commodity brokerage business through Reliance Money. Even as the group officials did not wish to comment, sources said the new business could have some existing bourses as well as a strategic associate as partners to gain technical, business and infrastructure support.
According to experts, this market could be in for a major overhaul with some large corporate houses waiting to start their own bourses.
Another emerging conglomerate Indiabulls group, which is present in businesses like brokerage, financial services, real estate, retail and power have already tied up with state-run trading firm MMTC to start a commodity exchange, for which it is awaiting necessary approvals.
These corporate houses are getting lured to huge growth potential in the Indian commodity market, which is already of the size of close to $1 trillion and could gain further scale given a continuing bull run across the world in this segment for over five years now, they added.
Kotak group has a strong presence in financial markets through its banking, brokerage and other businesses. ADAG is present across diversified businesses such as telecom, power, financial services, energy, infrastructure and media.
While it was not clear which existing exchange R-ADAG was looking at to gain the platform and infrastructure, sources said it may not be the bourses in Rajkot or Ahmedabad as rumoured.
Wednesday, January 16, 2008
Dabbawalas to market Reliance Power IPO
MUMBAI: Reliance Money, the financial services and products distribution company of Reliance Anil Dhirubhai Ambani Group, has latched on to a marketing innovation. The firm has roped in the Six Sigma perfected dabbawalas to get an edge in their run-up to the Reliance Power IPO, among a host of other tradeable financial services.
The dabba which arrives on the dot at most office desks with home-cooked food, will have other steaming offers in a bulging paper envelope. Apart from the full bouquet of mutual funds, insurance products and money transfer services, Reliance Money expects to push demat accounts, and IPO application forms through this channel, beginning with the Reliance Power application forms. The dabbawalas will not only carry Reliance Money’s messages across the city, they will even pick up requests and completed forms from customers back to the company.
"Its a dedicated two-way communications channel," says Sudip Bandyopadhyay, director of Reliance Money. "The idea is to reach out to a maximum number of retail investors." According to recent estimates, the dabbawalas move around 1.6 lakh lunch boxes everyday across the length and breath of Mumbai, with a workforce of around 5,000.
The alliance ensures that Reliance Money gets access to the most sought after segment of 24-60 year old professionals in the city, "each of who is individualistic enough to insist on fresh, hot home food every day. Reaching out directly to this segment makes more marketing sense than acquiring impersonal mailing lists," says the director.
Given that some parts of this segment may not qualify as traditional equity investors, putting across a customised value proposition for each individual is an added bonus. According to reports, though the average dabbawala has no formal education beyond class eight on an average, their work practices draw upon a 120-year old logistics system. That means the familiar workforce on Mumbai streets - for whom even the unruly Mumbai traffic stops to let pass - misses no more than one delivery in every 10 million.
Though the deal with the dabbawalas is to be an event-based deal, Reliance Money is also looking at alternate channels to sell its services. It has also tied up with coffee chain Barista, where each outlet has a trading kiosk. Many travel agencies (like Kuoni) as well as courier offices (like DTDC) too will distribute the company’s financial products.
Reliance Money is the electronic transaction platform associated with Reliance Capital, a private sector financial services companies.
The dabba which arrives on the dot at most office desks with home-cooked food, will have other steaming offers in a bulging paper envelope. Apart from the full bouquet of mutual funds, insurance products and money transfer services, Reliance Money expects to push demat accounts, and IPO application forms through this channel, beginning with the Reliance Power application forms. The dabbawalas will not only carry Reliance Money’s messages across the city, they will even pick up requests and completed forms from customers back to the company.
"Its a dedicated two-way communications channel," says Sudip Bandyopadhyay, director of Reliance Money. "The idea is to reach out to a maximum number of retail investors." According to recent estimates, the dabbawalas move around 1.6 lakh lunch boxes everyday across the length and breath of Mumbai, with a workforce of around 5,000.
The alliance ensures that Reliance Money gets access to the most sought after segment of 24-60 year old professionals in the city, "each of who is individualistic enough to insist on fresh, hot home food every day. Reaching out directly to this segment makes more marketing sense than acquiring impersonal mailing lists," says the director.
Given that some parts of this segment may not qualify as traditional equity investors, putting across a customised value proposition for each individual is an added bonus. According to reports, though the average dabbawala has no formal education beyond class eight on an average, their work practices draw upon a 120-year old logistics system. That means the familiar workforce on Mumbai streets - for whom even the unruly Mumbai traffic stops to let pass - misses no more than one delivery in every 10 million.
Though the deal with the dabbawalas is to be an event-based deal, Reliance Money is also looking at alternate channels to sell its services. It has also tied up with coffee chain Barista, where each outlet has a trading kiosk. Many travel agencies (like Kuoni) as well as courier offices (like DTDC) too will distribute the company’s financial products.
Reliance Money is the electronic transaction platform associated with Reliance Capital, a private sector financial services companies.
Saturday, September 29, 2007
Stronger rupee saves you from jitters of global gold price rise
NEW DELHI: Rupee appreciation is helping the Indian consumer. While gold prices have touched the roof in the global markets, at home the
prices remained at the same level with Indian currency gaining strength.
As dollar continues to weaken against other currencies, gold prices have spurted to cross28-year-high of $750 per ounce. However, in the domestic market the price remained around Rs 9,500 per 10 gram. On Friday, it closed at Rs 9,595 per 10gram.
The Indian currency has appreciated by over 10% in the last one year against dollar. If this was not the case, the gold would have been quoted around Rs 10,500 per ten gram.
The price of gold is normally fixed in dollar-term. But as the US currency weakened against euro, yen and rupee, rise in prices in these currencies are relatively smaller than dollar. This drove the demand of the yellow metal in international markets.Americans are also buying
gold to hedge against dollar depreciation.
The investment in gold has given a return of 7% in rupee-term in last one month. Returns in the last three months, six months and 12 months
are 9.4%, 1.8% and 7.8%respectively. But, in dollar-term, the yellow metal has appreciated 30.5% in last one year. In other currencies,
return is on the lower side because of their appreciation against dollar. Return in euro on gold investment in last one year is 16%, in
pound 14.8% and in yen26.1%.
DSP Merrill Lynch gold fund, which invested in equities of global companies, that operate in gold, has appreciated by over 25% in rupee-term in the last one month, since it got listed on the stock exchange. Executive V-P Anup Maheshwari said the bull run of yellow metal will continue.
He said gold had crossed $ 750 per ounce in 1979 and if it is adjusted for inflation since then, the present price of the yellow metal should have been over $ 1,600per ounce.
Director and CEO of Reliance Money, Sudip Bandyopadhyay said demand for the yellow metal is on the upswing in the domestic market.
prices remained at the same level with Indian currency gaining strength.
As dollar continues to weaken against other currencies, gold prices have spurted to cross28-year-high of $750 per ounce. However, in the domestic market the price remained around Rs 9,500 per 10 gram. On Friday, it closed at Rs 9,595 per 10gram.
The Indian currency has appreciated by over 10% in the last one year against dollar. If this was not the case, the gold would have been quoted around Rs 10,500 per ten gram.
The price of gold is normally fixed in dollar-term. But as the US currency weakened against euro, yen and rupee, rise in prices in these currencies are relatively smaller than dollar. This drove the demand of the yellow metal in international markets.Americans are also buying
gold to hedge against dollar depreciation.
The investment in gold has given a return of 7% in rupee-term in last one month. Returns in the last three months, six months and 12 months
are 9.4%, 1.8% and 7.8%respectively. But, in dollar-term, the yellow metal has appreciated 30.5% in last one year. In other currencies,
return is on the lower side because of their appreciation against dollar. Return in euro on gold investment in last one year is 16%, in
pound 14.8% and in yen26.1%.
DSP Merrill Lynch gold fund, which invested in equities of global companies, that operate in gold, has appreciated by over 25% in rupee-term in the last one month, since it got listed on the stock exchange. Executive V-P Anup Maheshwari said the bull run of yellow metal will continue.
He said gold had crossed $ 750 per ounce in 1979 and if it is adjusted for inflation since then, the present price of the yellow metal should have been over $ 1,600per ounce.
Director and CEO of Reliance Money, Sudip Bandyopadhyay said demand for the yellow metal is on the upswing in the domestic market.
Tuesday, May 1, 2007
Rel Money eyes rural expansion
MUMBAI: Reliance Money, the financial services firm from Anil Dhirubhai Ambani Group stable, has chalked out a detailed plan for a strong presence in the rural market that will compliment its plans for the urban markets.
Reliance Money aims to have its shops set up in over 5,000 subdivisions (also called tehesils) across India by the end of the current fiscal. And to help the company in selecting its franchisee partners in places not frequented by finance firms, it has tied up with Rural Relations, a firm that helps FMCG firms mass market their products in rural areas.
“Increasing distribution reach is crucial. Our tie-up with Rural Relations is one such relationship aimed at expanding our rural reach, said Sudip Bandyopadhyay, director "> “Following some pre-defined criteria, people from this rural marketing company will identify prospective Reliance Money partners from each sub-division and send their details for further screening. Once the right candidate is selected, Reliance Money’s franchisee shop will be set up at that tehesil with help from Rural Relations,” he said.
Reliance Money aims to have its shops set up in over 5,000 subdivisions (also called tehesils) across India by the end of the current fiscal. And to help the company in selecting its franchisee partners in places not frequented by finance firms, it has tied up with Rural Relations, a firm that helps FMCG firms mass market their products in rural areas.
“Increasing distribution reach is crucial. Our tie-up with Rural Relations is one such relationship aimed at expanding our rural reach, said Sudip Bandyopadhyay, director "> “Following some pre-defined criteria, people from this rural marketing company will identify prospective Reliance Money partners from each sub-division and send their details for further screening. Once the right candidate is selected, Reliance Money’s franchisee shop will be set up at that tehesil with help from Rural Relations,” he said.
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