Geojit into commodity futures broking after 10 years

KOCHI: Retail financial services major Geojit is reentering commodity futures broking business after ten years. It will begin commodity derivatives brokerage services in all the company’s 500 branches by mid-April.

“We have got approval from three major commodity futures exchange –– NCDEX, MCX and NMCE,” said Satish Menon, executive director of Geojit.

“Apart from hiring 100-200 staff, we will have no increase in our fixed cost, which will work to our advantage,” Menon said.