Sykes & Ray Equities - A company profile

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Introduction

Sykes & Ray Equities (I) Ltd (SRE) is a Mumbai based leading retail stock broking entity. It was established in 1994, promoted and managed by Yogesh R Gupta and Anup R Gupta. SRE has been functioning for about 17 years, providing investment and other financial services to its investors. It started as a traditional proprietary concern in 1990 and ultimately transformed into a broking service entity trading in all the premier stock exchanges of the country. It acquired BSE membership in 1990 and NSE membership in 1994.

In 1997, it corporatised its membership in BSE to Sykes & Ray Equities (India) Ltd. In 1998, it entered the arbitrage market, by creating an arbitrage desk and commencing offline Intranet trading. In 1999, it acquired OTCEI dealership and entered the depository market. In the same year, the company became one of the largest depository partners of SHCIL. In 2000, the firm entered the derivative market and became the depository participant of CDSL. It further became the corporate agent of LIC through its subsidiary, Ray Trading Pvt Ltd (Ray Trading). In 2003, SRE became AMFI registered mutual fund dealer, distributor and advisor. In 2004, it initiated commodity trading through Ray Trading, which acquired membership of MCX and NCDEX. In 2006, the company launched a Financial Planning division, engaged in wealth management services. It has become an education provider offering professional courses through Finanancial Planning Academy.

Major Offerings

Trading in Equity & Derivatives

SRE provides trading services on BSE and NSE in cash and derivative segment. It has a combined turnover of more than Rs 54 bn from these exchanges. It has a comprehensive website providing real time market information with the help of equity news, market commentary, industry analysis, historic data, mutual fund and IPO information.

Trading in Commodities

SRE provides investment opportunities in commodities futures through its subsidiary Ray Trading. It is a trading and clearing member of MCX and NCDEX. It offers real time trading facility in all major commodities and also tracks the latest commodity news, advances & declines, statistical data and other related reports.

Depository

SRE is a depository participant of CDSL and provides easy, safe and reliable dematerialisation services to individuals and corporate investors. It has a nationwide network of consumer services franchisees enabling convenient and quick demat facilities. Besides, it also has a team of professionals and technological expertise for the demat division.

Online Trading

SRE provides real time trading facility with its online trading platform. It facilitates the investors in taking an informed trade decision with the help of live inter-active charts and streaming quotes. It is user friendly online portal offering live quotes, charts, research and recommendations.

Insurance

SRE acts as a corporate agent for insurance agencies and is primarily engaged in marketing and distribution of insurance products. Its group company, Ray Trading has alliances with LIC for distribution of life insurance and Bajaj Allianz Insurance for general insurance.

Research Desk

SRE research desk is committed to provide exhaustive information on companies and markets. This acts as a value addition to its current offerings. It offers technical charting of companies. There are also sections providing company financial results and announcements, industry specific analysis, market commentary, IPO news, SRE recommendations etc.

Mutual Funds & IPO’s

Apart from trading and depository services, the company also offers mutual fund advisory and IPO services. SRE is engaged in sale and distribution of mutual funds and assisting the investor in selecting mutual fund scheme. It further offers details of forthcoming IPO’s and all updates related to IPO market.

New Products

SRE has already initiated with comprehensive Financial Planning. Now SRE plans to append some new value added services to enhance client satisfaction. Some of them include Portfolio Management services for its esteemed clients. It also plans to enhance its internet trading platform with the help of technology support.

Market and Networks

SRE has a pan India presence The company through its business associates and branches has a presence in over 110 cities across the country. It has a nationwide network of 860 terminals, 300 sub brokers, 225 employees and 280 offices. Major cities in which the company operates includes Delhi, Surat, Hyderabad, Bangalore, Nashik, Varanasi, Kolkata, Chennai and Mumbai. The company earns major revenue from its terminals located in Mumbai, Maharashtra.

Technology & Connectivity

SRE uses latest high end technology solutions. It provides ORION-ODIN software through its own network, which assists in clients gaining live access to the markets. Asian CERC for its internet trading platform and ACER E-solutions for its back office requirements. All trading terminals of the company are well connected through VSAT’s and VPNs.

Growth & Performance

The domestic business of SRE including equity and derivative has observed a turnover growth of 34% and 24% respectively. It added 11,900 customer accounts in the first 10 months of the CY07 compared to 8,890 accounts last year. Its e-broking accounts also registered a substantial growth. The company added 817 domestic and 175 NRI E-broking accounts.

Future Plans

SRE has been spreading its presence in the retail market, by providing investors with several additional investment opportunities in segments like mutual funds, derivatives etc. Products and services like margin financing and investment banking are to be introduced. It plans to expand operations by entering into joint ventures in India and abroad. It even aims at expanding its FII and Institutional Client base. Other future plans also include launching its IPO.

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