One paise, which is one hundredth of an Indian rupee, used to be the lowest-value coin in circulation in India. The paise was discontinued about two decades ago, after the Indian currency had begun to lose its value . Today, one-paise coins are neither in circulation nor can they be used to buy anything. Beggars also won’t accept such coins.
While equity markets everywhere were in turmoil, commodity markets were on a general upswing. We spotted this trend back in January 2011 and started to acquire commodity brokering licenses. By the middle of 2011, we had several commodity brokering licenses, and over the last one year we built a flourishing commodity brokering business on top of our equity brokering business. While many of our equity brokering customers also dabble in commodities, a small commodity brokering team was set up to acquire other exclusive commodity brokering clients. As a result, we have been able to create a very cost-effective commodity brokering business to a point where our overall market share is now a respectable 75 basis points, this after having started from scratch.
Reprint from Ivey Business Journal
[© Reprinted and used by permission of the Ivey Business School]
you are great sir
on Mar 31, 2013