Financial Daily from THE HINDU group of publications
Tuesday, Dec 31, 2002
Financial Daily from THE HINDU group of publications Tuesday, Dec 31, 2002 |
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Corporate
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Alliances & Joint Ventures Tata TD to leverage on third-party synergies Our Bureau
KOLKATA, Dec. 30 DIAMONDS may be an investor's best friend in more ways than one, a fact that seems to have attracted Tata TD Waterhouse Securities. The joint venture between the Tatas and the Canadian investment group has roped in a top player in Mumbai's diamond industry as its first major franchisee in a niche segment. Mr Gunwant Sanghrajka, billed as an "influence-leader" in his trade, has been a Tata Engineering dealer for long — a business that has also helped him win the confidence of Tata TD. The latter has assured him all help, ranging from risk management to marketing support. As Mr Pallav Sinha, CEO - Capital Markets Division at Tata TD explains, the tie-up is part of the company's strategy to enter exclusive markets in an effective manner. "This arrangement will help us closely bond with players associated with the diamond trade," he says, adding that the idea is to leverage on the synergies that may exist with third parties. Elsewhere in the country, the strategy may take Tata TD to other Tata Engineering and even Titan dealers as well. In cities like Kolkata, for instance, it is currently seeking to identify suitable partners. "What we are looking for are establishments that serve large catchment areas. There is a lot of money floating around, which has to be steered towards the right direction," Mr Sinha says. The company is further trying to provide both offline and online solutions to investors. For the long term, it has plans to replicate TD's model on telephone broking, one that is popular in North America. Recent developments — like expansion of private telecommunication networks — are expected to boost its plans further. "Phone broking, which has already started gaining acceptance, may well gain popularity in India too," Mr Sinha feels, adding that the phone will assume greater importance as a channel of communication insofar as investments are concerned. Incidentally, Tata TD opened an investment centre (mainly for broking and distribution) in Kolkata on December 27. The Tata TD set-up currently covers institutional and retail segments in several ways, including stock broking, distribution of financial products and depository services. It is also a primary dealer in G-secs. It may be mentioned here that TD Waterhouse has partnered with the Tata-promoted asset management outfit.
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