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JRG on a fast track growth plan

Last updated on: November 08, 2005 18:15 IST

Kochi-based JRG, a leading stock, commodity and insurance broking company has embarked on an ambitious growth plan.

The company plans to recruit 500 new employees and open 30 new regional offices across the country in the next one-year.

Promoters of the JRG Group said that each regional office will take care of 40 branches so that the company emerges with the largest trading network in the country with 1,500 terminals. Currently, JRG has 310 terminals across the country, and the Gulf nations.

JRG's dynamic expansion plans are to make the company a global player in the financial services sector and also to bring to the doors of India's investing public all the opportunities of global investment in the capital market, commodity and insurance fields.

JRG's immediate growth plans include opening regional offices in 12 Indian states and launching more offices at all the major cities in the United Arab Emirates.

"We have chalked out a spectacular growth plan for the company, considering the fast changes in the global investment scenario. We have put in place a state of the art technology to move with the times," Regi Jacob, managing director of JRG Securities said.

He said the rapid expansion strategy being executed by the company will ensure that India's investing public get global financial services.

Giby Mathew, executive director of JRG said, "JRG's unique positioning as a stock, commodity and insurance broker across the country will ensure that the investing public get quality service, proper guidance and support under a single roof."

JRG's immediate emphasis, these days, is to cater to the large Indian expatriates across the UAE. The company already has a full-fledged office in Dubai. It is now planning to set up more branches for capital and commodity market operations at UAE.

"We are opening offices at Abu Dhabi, Sharjah, Al-Ain, Oman, Muscat and Saudi Arabia. We have also decided to apply for the UAE central bank license, which now requires 4 million dirhams (Rs 4.8 crores) as deposit for full-fledged capital market operations," Jacob said.

JRG has already taken membership in the Dubai Gold & Commodities Exchange.

DGCX is a joint venture between the Dubai Metals and Commodities Centre, Government of Dubai, Financial Technologies (India) Ltd and Multi Commodity Exchange of India Ltd.

The exchange will open with the trading of gold futures. Silver futures will open in the first quarter of 2006, followed by gold and silver options and then by steel, freight, cotton and fuel oil futures. DGCX is to benefit from its proximity to India, the world's largest gold consumer.

JRG promoters said that even as the company is ushering in massive expansion plans, it continues to constantly infuse quality into service. The company has become a recognised name in financial services arena in the country within a short span of time because of its adherence to quality service.

While highly qualified and experience financial experts man the countrywide offices of JRG, the centralised database management system with the state-of-the-art technology gives the company an upper edge in the speedy services and efficient operations.

JRG, with its headquarters in Kochi, started trading in securities in 1992. The company became a Member of the National Stock Exchange Ltd in 1999. It has been associated with the National Securities Depository Ltd from 2000 and has covered major milestones in the financial services industry.

JRG launched online commodity futures trading in June 2003 by extending an exclusive on-line Rubber Future Trading System to the members of Indian Rubber Dealers Federation.

"The association with IRDF and tie-up with Tirumala Tirupati Devasthanam in Andhra Pradesh for on-line commodity futures trading terminal at Tirupati Temple have been major stepping-stone for JRG," Mathew said.

JRG obtained the Insurance Regulatory Development Authority Licence for extending general and life insurance services to the public as an insurance broker. These days, JRG provides the most competent insurance products of 25 different insurance companies across India.

"With a committed management team and the new technology implementations, JRG Group is highly confident of bringing to the common investor the best that the country can offer in the investment arena," said Jacob.

Last week, T M Venkataraman, former chairman and chief executive officer of Dhanalakshmi Bank and S K K Nair, a renowned management consultant and former managing director of various Kerala government public sector companies joined in the board of JRG as directors.
rediff Business Desk