Reliance Securities launches regular stock purchase planAugust 4th, 2011 - 7:19 pm ICT by IANS
New Delhi, Aug 4 (IANS) Reliance Securities, a part of Reliance Capital, Thursday announced the launch of a systematic investment plan - the Regular Stock Purchase (RSP) - which allows customers to invest directly in equity markets at regular intervals.
“Our new plan is aimed to inculcate a habit of regular investment in fundamentally good stocks. This will help average out price volatility and generates better returns in the long term to investors,” said Vikrant Gugnani, executive director, Reliance Securities.
“The plan allows buying scrip at regular interval, over a period of time, for specified amounts or defined quantities,” he added.
The RSP plan, available to all Reliance Securities broking customers, allows investors to make systematic investments in their chosen stock or exchange traded fund’s (ETF) in a sustained manner under two options - specific amount or specific quantity - for a fixed tenure.
An investor can choose to invest and fixed amount or purchase a fixed quantity of their preferred stock or ETF from RSLs existing basket offering over 263 stocks and 17 ETFs.
“We will continuously add more scrip to our basket going forward. We sincerely believe that long-term sustained investment is the best way for small investors to accumulate wealth in the stock market,” said Gugnani.
Investors need a one-time free registration to activate RSP facility in their existing plans and normal brokerage is applicable on every sale and purchase.
The plan does not mandate any lock-in period for holding stocks ensuring complete liquidity to investors at all times. Investors can set their frequency of investment to daily, weekly or monthly for upto a three year period.
The company also said that it has already enrolled over 6,000 customers in the first month of pilot project and plans to add over 10,000 customers every coming month.
- Rajiv Gandhi Equity Scheme opened to investments through ETFs and MFs - Sep 21, 2012
- Reliance Capital starts mutual fund service through SMS - Aug 29, 2012
- Special trade at stock exchanges Akshaya Tritiya - May 16, 2010
- Reliance Mutual Fund launches gold savings fund - Feb 09, 2011
- Reliance Money plans to sweep market with new product - Feb 02, 2010
- Reliance Securities launches investor awareness programme - Jun 08, 2011
- Reliance Mutual bets big on retail investors - Oct 02, 2011
- Small investors should not directly trade in equities: SEBI - May 19, 2012
- Kotak securities announced launch of AutoInvest nationwide - Jul 15, 2008
- New tax saving scheme for equity investment, STT cut proposed - Mar 16, 2012
- Reliance Cap Q2 total income rises 19 percent - Nov 11, 2011
- Reliance gold fund attracts 200,000 applications - Mar 09, 2011
- Jewellers demand abolition of gold units - Mar 13, 2012
- FII investment limit in corporate bonds raised to $25 billion - Sep 12, 2011
- Reliance Venture profitably exits Sequans Communications - Apr 19, 2011
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