Log in, click on for wealth

By : |February 16, 2006 0



HYDERABAD: If the ways of cellulose pulp scares you and makes your investment plans a time-consuming effort, then going online is always a better option.

The mouse has made our lives easier than paperwork lending helping hands on many fronts. Online trading is not an exception.

                                 

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Targeting retail investors, IDBI Capital Market Services Ltd has come up with an online trading portal. Online investments in equities, mutual funds and IPOs can be carried out through the portal.

“The common retail investor in India has failed to take advantage of the boom in stock market. We want them to be well informed. The portal will minimize the risk for the investor and get better returns to him,” said S Muhnot, MD and CEO of IDBI at the launch of the portal here today.

Trading through the portal can be done through two accounts – Paisa Power Classic and Paisa Power Streaming. Paisa Power Classic is an easy-to-use account meant for relatively newer investors.

Active investors can go for the advanced Paisa Power Streaming, which has features like streaming quotes, market watches etc. Registration fee for opening an account with the portal is Rs 700.

A three-step process: For the investor’s convenience the portal engages a three-step process to provide information, track record of companies and expert opinions. IDBI will take the help of reputed news agencies to disseminate information. Profit/loss accounts, analysis, balance sheets, dividend records of about 4500 companies over the last five years will be featured on the portal. Experts from top 15 broking institutions will provide their opinion to the investors.

Franchisees on the cards: Plans are afoot by IDBI to open 350 franchisees all over the country the country within two-three months. The centres will be aimed at those do not have frequent access to the Internet. Registered clients can have information delivered to them over phone. Orders can also be executed through the franchisees.

Andhra Pradesh will have 20-25 such centres, according to Muhnoot. “We would further increase it to 45 in Andhra Pradesh,” he added.

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