Reliance Securities reports impressive Q2FY19 performance

Reliance Securities, the broking and distribution division of Reliance Capital, posted a positive financial performance for the quarter ended September, 2018.

The company reported a total income of Rs. 88 crore, up 16 per cent YoY. In equity broking, it reported a surge of 36 per cent YoY in the average daily stock exchange turnover at Rs. 5,618 crore. Subsequently, the average daily turnover in cash under the equity segment stood at Rs. 290 crore.

The commodity broking accounts increase by 10 per cent to over 1,03,000. Consequently, the average daily commodities turnover surged by 36 per cent to Rs. 331 crore.

The company witnessed a 4 per cent YoY increase in broking accounts which stood at 8.7 lakh as on September 30, 2018. Its Assets under Management was at Rs. 4,000 crore.

In a press release to the exchange, the CEO of the company commented that both the topline and profitability of the company experienced an improvement, primarily on account of robust customer acquisition rate and strong activation-framework.

Reliance Securities is a leading retail broking house, providing customers with access to instruments including equities, derivatives, IPOs, currency wealth management solutions, insurance products, mutual funds, bonds, corporate fixed deposits.

On Monday, the shares of Reliance Capital opened at Rs. 253.00 per share and hit a high and low of Rs. 256.95 per share and Rs. 243.60 per share, respectively. At 12:40 pm, the stock was trading at Rs. 248.00 per share, down 1.90 per cent.