ZERODHA, India’s leading technology driven online brokerage firm, today announced its foray into Odisha.
The entry of ZERODHA in Odisha will act as an advantage for growing trading community to switch over to online discount broking otherwise dominated by traditional brokers in the region. The facilities in Bhubaneshwar and Cuttack will play a big role in providing localised support and services to the existing customers of ZERODHA.
Speaking more on the new development, Nithin Kamath, Founder and CEO, ZERODHA, said, “We are happy to announce our entry to Odisha, as it presents new opportunity for us in terms of the business growth. We as a company have the advantage of understanding both markets and technology. We would like to capitalise on this expertise and provide state of the art execution experience to our customers. The new support centers in Odisha will make this experience seamless”.
ZERODHA has over 70,000 clients across the length and breadth of the country with contribution on an average daily turnover of over Rs.7000 crores on various exchanges.
ZERODHA anticipates a contribution of around 5% from Odisha to the total daily turnover with the new support bases in Bhubaneswar and Cuttack. With the current estimated contribution, Odisha will alone add around Rs 350 crores to ZERODHA’s daily revenue.
ZERODHA is also creating a strong online education infrastructure for its clients to interact and learn about stock markets. The 6 month old education initiative called ‘ZERODHA VARSITY’ is already popular within the trading and investing community. Varsity has garnered over a million page views and has over 4000 subscribers. VARSITY will provide high quality education content and will be made available for free. To begin with ‘ZERODHA VARSITY’ already has exhaustive content on technical analysis, fundamental analysis, futures, and options trading. Relevant examples from Indian markets are quoted throughout these topics.
ZERODHA currently has over 20 support centers across India and has aggressive plans to open in other major cities in coming months.