Angel Broking to invest Rs 30 cr in FY10; to hire 1,200 people

11 May 2009
New Delhi:

New Delhi: Domestic brokerage firm Angel Broking is planning to invest around Rs 30 crore this financial year for expanding its branch network, and is also looking at hiring 1,200 people in 2009-10.

"We are looking to invest around Rs 25-30 crore in this financial year for expanding our network by 50 branches. The investment is in line with our expansion strategy which sees huge potential in the long term," Angel Broking Chairman & Managing Director Dinesh Thakkar told PTI on sidelines of an investor seminar.

"We are looking at hiring 1,200 people in this financial year to cater to our increased presence in the country," Thakkar added.

Under its expansion plans, the company would focus on few areas in the northern and southern regions including Punjab, Haryana, New Delhi, Tamil Nadu and Karnataka. The firm is also eying to tap semi-urban pockets which have huge investment potential.

"We believe that having presence through business partners can also give us greater penetration, effectiveness and better reach to our retail audience," Thakkar added.

The rise in its headcount would increase the brokerage firm's total headcount to over 6,000 employees across the country, while the firm has over 1,500 outlets connected through its modern IT network.

Source : The Economic Times, Dated 11th May 2009.