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Apollo Sindhoori Capital Investment (ASCIL), a stockbroking firm, launched its Internet trading facility in Chennai on April 21, 2004. Ravi Shah, VP, TCS, launched the net trading module. Suneetha Reddy, Chairperson, ASCIL, K Padmanabhan, Director, ASCIL and P B Subramaniyan, Executive Director, ASCIL were also present.

ASCIL is the only stock trading organisation in the country to offer the innovative features of 'Buy today-pay tomorrow'  and 'Buy today-sell tomorrow’ on its trading site. With the introduction of its online trading facility, users now have the convenience of trading on the BSE, NSE and Futures and Options from a single terminal, along with gaining access to detailed market information. This enables traders to make more informed decisions.

Other special facilities from www.apollosindhoori.com include: Trading on equity and derivatives segments on a single screen, simultaneous trade through the Net or at a designated branch. This is an effective and unique facility since ASCIL’s presence in 250 locations throughout India allows the clients to request the branches to monitor the positions and also take exposure against unclear cheques towards margins.

Unlike most other trading websites, there is no compulsory squaring off positions at 1430 hrs. This provides the trader with the opportunity to make the payment the next day or to decide to sell the shares the next day.

Exposure allowed up 7-10 times while other trading websites allow only up to 3-5 times. This is an advantage for the trader, as with the same amount of money, he gets twice the exposure.

Decision support systems, streaming quotes, charting tools, comprehensive data (industry wise and company wise) is available to make intelligent and informed decisions.

Online banking with multiple banks including HDFC, ICICI, UTI, CITI bank and Standard Chartered through the site.

Access to DP through the internet.

Access to all trade and back office reports.

Spot registration facility.

Suneetha Reddy, Chairperson, ASCIL said, “We share our lineage with the Apollo Hospitals Group, and like the Group, we have a strong value system that places the customer first. Our investment in this new module is towards offering our clients complete services through unique online trading features and the convenience of anywhere trading. It is about creating access, ease of transaction and customer satisfaction. The introduction of the latest technology has helped us in setting higher industry standards and boosting the burgeoning economy through creation of companies that are foremost in their field.”

She added, “Through the internet trading facility, we expect to add over Rs. 100 crore gross daily volume in the next 12 months to our existing turnover.” 

The technology for the website has been provided from the best in the industry – Tata Consultancy Services for implementation of the software and HCL Comnet for network enabling.

Apollo Sindhoori offers an array of trading products and services. These include trading facilities in the equity segment of NSE & BSE, derivatives segment of NSE and depository services. This is in addition to commodities trading on NMCE and NCDEX that have been added to their portfolio through a wholly-owned subsidiary. The company also participates in prestigious IPOs. The differentiating factors of the company are totally transparent trading systems, highly competitive brokerage structure and effective client service facilities, Suneetha said.

As for the future, ASCIL aims to increase trade volumes to 2-2.5% from the current 1% of exchange volumes over the next year. The company has also initiated new trading and an aggressive brand building exercise, which are expected to contribute towards achieving the target. The organisation intends to compete with the international players that are likely to step in to the country soon. 

By March 2005, the company plans to establish branches at over 500 locations in India and achieve a market share of 2.5%. ASCIL is also exploring the idea of opening branches outside India. New products plans that are afoot include the introduction of Margin Finance and wholesale debt market, which are expected to contribute huge volumes.

Apollo Sindhoori Capital Investments Ltd. (ASCIL) is a leading stockbroking firm in the financial services sector, promoted by Dr Prathap C Reddy, Chairman of Apollo Hospitals. Established in 1996 in Chennai, the firm began by trading on the National Stock Exchange.

Over the last eight years, ASCIL has grown at a tremendous rate with over 250 branches and with trading facilities in 
equity segment of NSE & BSE, Derivatives segment of NSE and Depository Services.

RR

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