E Trade to enter India

E Trade has picked up a 34% stake in IL&FS for 65 Crores.

This will help one of the largest online broking companies to get into one of the fastest growing online service in India - Stock Broking.

Hopefully this will lead to more competition, better brokerage rates and most important of all - Better Service for all of us!


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This is very interesting. ILFS happens to be my Depiositary. These online broking companies- do they also give good guidance in trading? All the fancy brokers in India boast of good guidance in investing(fundaments) but no one in trading. I will try to track them on the net but a little more info will be welcome.
US online broker E*Trade Financial Corp. and a unit of Softbank Corp. have bought a combined 34 percent stake in Indian brokerage IL&FS Investsmart Ltd., a statement from the Indian firms said on Wednesday. Indian infrastructure lending group IL&FS and Japan's Orix Corp. own 78 percent and 22 percent of Investsmart, respectively, and each will sell a proportionate share to the two new investors.
E trade has picked up the entire set of people handling the SSKI online division with an aggressive pay package.lets see next...

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