The Hindu Business Line: For Kotak Securities, it might have been a late entry into online trading. ICICI Direct, Indiabulls and Sharekhan has had an early entry into this space – in 1999-2000, while Kotak as a online retail brokerage is just about becoming a serious player. In an interview, Prasanth Prabhakaran, Sr. Vice-President, kotaksecurities.com, says:
At Kotak, we had an average online trading turnover of Rs 25-30 crore ($6.8 million) in 2003. Today, it stands at about Rs 500 crore ($114 million). We have added about 50,000 active new users during this period. This is partly a function of the reach that we have today. In 2003, we decided that rather than look at client addition numbers we would specifically target serious investors for our online trading initiative. This has made us quite profitable in this business.