Attracted by the tremendous potential and phenomenal growth achieved by Indian retail brokerage firms in recent times, a clutch of foreign majors are mulling an entry into the market.
Foreign majors such as the Citigroup, Societe Generale (SocGen), BNP Paribas, Standard & Chartered Bank and Australia-based Macquarie Bank are understood to be contemplating picking up equity stakes in Indian retail brokerages as an easy route to enter the market.
A buoyant stockmarket despite the odd hiccup combined with an increasing appetite for equities among investors, tech convenience of online trading and falling brokerage fees have proved to be the major growth drivers of the industry.
The potential of the Indian market was higlighted recently when nearly 19 suitors stepped forward to claim a stake in leading retail brokerage Sharekhan, amongst the top three such firms in the country.
Read more in The Economic Times article.
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