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Geojit soars on inking JV agreement with BBK and JZ Associates

10 Aug 2011 Evaluate

Geojit BNP Paribas Financial Services is currently trading at Rs 20.50, up by 0.90 points or 4.59% from its previous closing of Rs 19.60 on the BSE.

The scrip opened at Rs 20.50 and has touched a high and low of Rs 21.85 and Rs 20.45 respectively. So far 13193 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 1 has touched a 52 week high of Rs 40.25 on 11-Nov-2010 and a 52 week low of Rs 19.15 on 09-Aug-2011.

Last one week high and low of the scrip stood at Rs 22.00 and Rs 19.15 respectively. The current market cap of the company is Rs 447.59 crore.

The promoters holding in the company stood at 62.31% while Institutions and Non-Institutions held 2.55% and 35.13% respectively. 

Geojit BNP Paribas Financial Services has formed a new joint venture (JV) with Bank of Bahrain and Kuwait (BBK) and Kuwait-based JZ Associates LLC. The new entity will be named as ‘BBK Geojit Securities KSC’, would be headquartered in Kuwait and will meet the needs of NRI population in accessing Indian capital markets.

BBK Geojit Securities KSC would offer various services, including brokerage services, depository services and mutual funds of Indian stock markets. The new entity will initially start operations with two offices. Kuwait, with over 600,000 NRI populations is expected to be a lucrative market for the new venture and plans are afoot to increase its presence to six offices.

BBK has completed 25 years of banking in India predominantly serving the NRI's from the GCC countries. The NRI services desk of the bank at Bahrain has been offering services relating to the Indian stock market to expats from the region with the support of Geojit BNPP. Geojit BNP Paribas has been expanding it's footprint in GCC countries over the last decade. This Joint Venture in Kuwait with BBK is the latest step in its efforts to provide savings and investment services relating to Indian Stock Market to NRIs in Kuwait who presently do not enjoy any such facility.

BBK NRI Services at Kuwait has a long presence in Kuwait, offering a wide range of banking products while JZ Associates LLC, a leading financial consulting firm in Kuwait.

Geojit BNP Paribas Financial Services offers wide range of investments options in equity, futures and options, IPOs and mutual funds. The company offers clients daily SMS alerts, market pointers, periodical research reports, stock recommendations and customer meets organized frequently. It also has online services named Classroom for new investors providing basic information about all investment avenues.

Geojit Finl. Service Share Price

67.71 2.86 (4.41%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Motilal Oswal Fin 815.95
Angel One 323.35
IIFL Capital Service 313.40
Nuvama Wealth 1403.20
Share India Sec. 147.05
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