The Business Bytes
TBB BUREAU
BHUBANESWAR, OCT 5, 2023
Leading financial services company Yes Securities has witnessed a 75 per cent rise in opening of new demat accounts in Odisha since 2022. With this surge in equity investments from across Odisha, Bhubaneswar tops the list by witnessing a 60 per cent increase in demat accounts holding in the past 1 year.
The company reckons that the state offers immense potential to further expand investor participation in equity markets, by virtue of the on-going developments by the government in making Odisha a global hotspot.
The demographics of Yes Securities’ investor base in Odisha shows that nearly 90 per cent of the investors are between the age group of 18-30, out of which, 10 per cent are women investors. According to the company’s data, Bhubaneswar, Rourkela, Cuttack, Barbil and Sambalpur emerge as the top 5 markets in Odisha. The company aims to tap cities such as Berhampur, Damanjodi, Koraput, etc. also, in the near future and spread investor awareness thus promoting financial literacy among new market investors.
“At YES SECURITIES, we see tremendous potential of acquiring more clients in Odisha as the middle-class population is shifting from fixed income financial instruments such as fixed deposits and small saving instruments to equity, mutual funds, ETFs and other financial products available in the market. To achieve the same, we are well-equipped with digitalised financial solutions and diversified investment options like our curated wealth baskets,” said Anshul Arzare, Joint Managing Director and CEO, Yes Securities
“With a remarkable 75 per cent surge in demat holdings in Odisha since 2022, we lead the way in inclusive and effortless investing. YSIL’s differentiation lies in its research-backed guidance and having one of the largest research teams. It will be in our continued efforts to make equity investments accessible to all investor classes across Odisha,” he added.
Yes Securities tapped the Odisha market in the year 2014. The journey started off with Bhubaneswar and gradually expanded to Rourkela, Cuttack, Barbil and over 10 other cities in Odisha.
Odisha is among the fastest growing states and fostering this growth, Yes Securities aims to facilitate effective investment management, by offering a user-friendly digital platform with a wide range of asset classes.
