Reliance Securities to take franchise count to 10,000

Reliance Securities (R-Sec), the retail broking subsidiary of Anil Ambani’s Reliance Capital (R-Cap), is planning to boost its franchisees count to 10,000 in the next 18 months. The company is also set to increase its number of employees to 1,400 from the present 800.

In order to tap the opportunities of the capital market, the company plans to increase its own Reliance Securities (R-Sec) branches to 160.

However, most of the new franchisees that the company plans to add require no prior experience in the broking business, and is looking for functional specialisation.

Bullish primary and secondary markets and increased participation from retail customers have spurred R-Sec's hiring drive. R-Cap posted a net profit of Rs 77.67 crore during the first three months of this fiscal year.