Marwadi Shares and Finance Ltd (MSFL) is a Gujarat based financial services company, incorporated in the year 1992, by Mr. Ketan Marwadi, Mr. Devan Marwadi and Mr. Sandeep Marwadi. Having memberships with Saurashtra Kutch Stock Exchange Ltd, NSE, BSE, MCX, NCDEX, MCX Currency and being a depository participant with NSDL and CDSL, this stock broking company operates with over 104 branches, 1450 sub-brokers, 4.10 Lakh investors and 800 employees. Marwadi group is head quartered at Rajkot, Gujarat and has strong presence in the neighbouring states as well.
Products and Services:
Marwadi group offers a wide variety of products like equity, derivatives, commodity, currency forex, depository services, mutual funds, portfolio management and IPO distribution. Apart from these, they also offer the following services:
- National Pension System (NPS)
This is a Government of India Scheme introduced in the year 2004. The scheme is a contributory pension system for people between ages 18 to 65 years to plan their post retirement life. It comes with tax benefits and ensures long term returns. MSFL helps its clients maintain and operate their NPS accounts.
- Security Lending and Borrowing Mechanism (SLBM)
The main intention of this mechanism is to provide the trader with liquidity, while minimising the risk. All the SLB transactions take place in stocks exclusively listed for this purpose and are exchange routed. Here the trader borrows equity shares, instead of buying, or lends his shares without any intention of selling them. Lenders can make income from their idle portfolios through this way. SLBM works as a hedging tool and traders can use their stocks as collaterals and earn a stipulated fee. These transactions carry an interest rate and usually a time period of one to twelve months. Traders can use this facility in both NSE and BSE in F&O segment. Marwadi group provides all assistance like single window for NSE and BSE, research advisory team and customer care, to its clients, to carry this out efficiently.
- Margin Funding
Here the traders borrow funds from brokers to trade in financial securities. Thus purchased stocks will act as collateral for the money borrowed. The trader has to invest certain amount of his own money, called margin money. For example, if Mr. Abby wishes to purchase 100 shares of XYZ Company for Rs 5 Lakhs, he has to invest a margin of Rs 2 Lakhs and rest will be given by the brokerage firm at an interest rate. Higher the stock volatility, higher will be the margin requirement. He can also give away the existing stocks in is Demat account as a collateral. This way trader can meet his shortfall of funds and maximise his returns. This is designed for high net worth individuals who are willing to take high risk. MSFL provides competitive interest rates to its clients.
- PAN Card Services
This is a basic service provided by MSFL where general public can apply for their PAN cards and related services.
- Marwadi DIET ODIN (exe):
- A terminal based application outsourced from a third party through which clients can access the Marwadi group servers.
- It comes at free of cost and hence clients need not pay anything even if ODIN is outsourced software.
- Supports trading in all exchanges where Marwadi Group is registered.
- Enables fund transfer from over fifteen banks.
- Marwadi Click (Web based):
- Here clients can access updated market information and perform trading by logging into their personalised profiles.
- This interface works on desktop, laptop, tablet and mobile phones.
- MSFL Connect Mobile App:
- This is a mobile application that can be downloaded both in android and iOS phones and allows the user to access all basic facilities which he could have enjoyed on any other traditional platforms.
- It comes with various reports and charts that help in fundamental analysis of stocks.
- Provides intraday charts, historical data and live tracking of stock exchanges.
- Daily news feed, sector wise announcements and order reports like net position, trade book, etc are available.
- Marwadi OMO (On my Own) Whatsapp:
OMO is a fully automated Whatsapp (chatbot) messenger, recently introduced by the group. Here clients can get their Demat and trading account information round the clock. Basically it is a Whatsapp group where the traders can get their doubts instantly clarified. Timely advisory reports are updated and notified.
|Type of Charge||Amount|
|Trading Account Opening Charge||₹ 0|
|Trading Account AMC||₹ 0|
|Demat Account Opening Charges||₹ 0|
|Demat Account AMC||₹ 450 per year or one-time payment of ₹ 2500 of which ₹ 2250 is refundable at the time of closure|
Minimum brokerage Charges:
|Flat Fee||Nil %|
|Equity Delivery||0.60 %|
|Equity Intraday||0.30 %|
|Equity Futures||0.30 to 0.60 %|
|Equity Options||₹ 100 – ₹ 300 per lot|
|Currency Futures||0.30 to 0.60 %|
|Currency Options||₹ 100 per lot|
|Equity Cash and Delivery||0.325 %|
|Equity Futures||0.0020 %|
|Equity Options||0.053 % on premium|
|Currency Futures||0.00125 %|
|Currency Options||0.0435 % on premium|
- Marwadi Group offers its products at relatively reasonable brokerage charges.
- It stands out than its competitors by offering variety of services like SLBM, apart from the regular product basket.
- It has a strong regional presence in Gujarat with its state of the art office facilities and fully equipped support team.
- Provides various trading platforms to assist diverse clientele.
- The major drawback is the lack of national presence. Though it operates in few important cities through offline mode, the group has yet to establish its exposure on a larger level.
- There is a need for strong customer support which works for extended hours. Also the support team has to be well trained to handle various complaints with poise and calm. Majority of the customer complaints are in this regard.
- Using third party products for technology support leaves them no scope for improvement like fixing bugs, adding new features or tools, resolving technical glitches, etc.
- There is a need for strong marketing team to make people well aware of their brand even in cities where they have a decent presence. With increasing competition, this becomes more imperative than ever.