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Religare Wins the Award for “Best Commodity Broker of the Year”

March 29, 2011 - New Delhi, Delhi, India

Religare Commodities Limited (RCL), a wholly owned subsidiary of Religare Securities Limited (RSL) which in turn is a wholly owned subsidiary of Religare Enterprises Limited (REL), an emerging markets financial services group, was awarded the prestigious award for the ‘Best Commodity Broker of the Year’ at the recently concluded Bloomberg UTV’s Financial Leadership Awards 2011 – The Final Word in Money.

The award, presented by Shri Pranab Mukherjee, Honourable Finance Minister, Government of India, was accepted by Mr. Jayant Manglik, President Religare Commodities Limited on behalf of RCL for the overall excellence of its coverage of commodities, quality of research and commitment to quality delivery of the product.

The 2011 Awards Ceremony, in partnership with MCX has been instituted to acknowledge the extraordinary contribution of India’s financial leaders and visionaries. India’s leading financial companies in categories like Banks, Insurance, Mutual Funds and Broking Houses (Commodities, Equities, and Currency) are vying for 19 different Financial Leadership Awards. The best in league were selected by an eminent jury on the basis of a detailed methodology, process validation and research conducted by Knowledge Partner, ICRA.

Speaking on the recognition, Mr. Gagan Randev, CEO, Religare Broking Business, said, “We are extremely delighted to receive this recognition for our effort and commitment to excellence in the field of investing in commodities as an asset class. Receiving this award is a true testimony to the best-in class systems and processes that we have thereby providing investors with a superlative platform in the world of commodities.”

About Religare Enterprises Limited:

Religare is an emerging markets financial services group with a presence across Asia, Africa, Middle East, Europe, and the Americas. In India, Religare’s largest market, the group offers a wide array of products and services including broking, insurance, asset management, lending solutions, investment banking and wealth management. With 10,000-plus employees across multiple geographies, Religare serves over a million clients, including corporate and institutions, high net worth families and individuals, and retail investors.

About Religare Commodities Limited (RCL):

Religare Commodities Limited (RCL), a wholly owned subsidiary of RSL which in turn is a wholly owned subsidiary of Religare Enterprises Limited (REL), an emerging markets financial services group, was initiated to spearhead Exchange based Commodity Trading. As a member of NCDEX, MCX, ICEX and NMCE in addition to both the Spot Exchanges, RCL is a trade facilitator providing the platform to trade in commodities.

In terms of the business structure, RCL caters to retail investors through its 529 branches across the country. It has commodity focused branches brand-named AgriHaat for catering to the needs of the clients who are sitting at commodity hubs and a Corporate Desk for the Corporate catering to special trading strategies as per their business interests.

Source: Business Wire India


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