SMC Global Securities and Ujjivan Small Finance Bank were trading almost a percent higher in the early trade on September 26 as they announced a strategic partnership to offer online trading services to the bank’s customers.
SMC Global Securities was quoting at Rs 79.94, up Rs 0.82, or 1.04 percent, and Ujjivan Small Finance Bank was quoting at Rs 49.91, up Rs 0.59, or 1.20 percent on the BSE.
“It is prestigious for SMC to tie up with Ujjivan Small Finance Bank as it promises to deliver swift, secure, and hassle-free trading and investment experiences to the bank’s customers on both mobile and desktop,” Ajay Garg, Director and CEO, SMC Global Securities, said.
It will offer services such as savings, demat and trading accounts to Ujjivan SFB’s customers, SMC Global said.
SMC Global will handle the relationship of trading and demat accounts of Ujjivan SFB customers. It will also offer full and discount brokerage services to the bank’s customers.
Ujjivan SFB customers can open a demat account through its mobile banking app.
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The partnership will help SMC Global strengthen and solidify its presence and client base across India, Garg said.
SMC Global Securities touched a 52-week high of Rs 88.80 on November 4, 2022 and a 52-week low of Rs 61 on June 9, 2023, respectively.
The stock is trading 9.98 percent below its 52-week high and 31.05 percent above its 52-week low.
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