Samco Review 2021

Samco ReviewSamco securities, formerly known as Samruddhi Stock Brokers Limited, is registered as a Research Entity under the Securities and Exchange Board of India (SEBI), Research Analysts Regulations, 2014. SEBI Reg.No.-INH000005847. Their registered address is 1004 – A, 10th Floor, Naman Midtown – A Wing, Senapati Bapat Marg, Elphinstone Road, Mumbai – 400 013, Maharashtra, India.

The company was founded in the year 1993 by Mr. Jimeet Modi. It was previously known as Samruddhi Stock Brokers Limited. It re-branded to SAMCO Securities in March 2015. Mr. Jimeet Modi is still the Chief Executive Officer (CEO) of the company. 

After it was formed, it launched India’s first capital market league, the Indian Trading League (ITL). The capital market league was launched in May 2015 and ran till 2016. The market league attracted investors like cricketer Kapil Dev and Bay Capital founder Siddharth Mehta. 

To simplify the complex world of trading and investing in the stock markets, and to solve the problems that the trading and investing industry is plagued with at an extremely affordable cost for their customers. They provide some of the most unique margin products to enable their customers to make the most efficient use of their capital. They strive to make low-cost access to capital markets is available for every Indian.

The Samco competition had six formats:

  • Trader’s League:  This was for the participants trading in the equities and derivatives segment of the National Stock Exchange of India and the Bombay Stock Exchange.
  • Investor’s League: This league incorporated all participants who had not traded in the futures and options segments.
  • Women’s League: This format comprised female participants of both the Trader’s and Investor’s Leagues.
  • Commodities League: This format was for participants trading in the commodity futures segment on the Multi Commodity Exchange.
  • Royale League: This format was selected for participants having a minimum capital of Rs 500,000.
  • Students League: This format comprised student participants below the age of 27

The competition was held daily, weekly, monthly, quarterly, and annually depending on the league and/or the level of the competition.

SAMCO’s subsidiaries:

SAMCO Ventures Pvt. Limited

SAMCO Ventures Private Limited was incorporated on 12 March 2015. It is a non-government, private unlisted company classified as ‘company limited by shares.

Samco Ventures Private Limited operates as a venture capital company. This is the holding company of the group. It has ownership in all operating businesses. The company provides an online platform for customers to understand the concepts of the trading and investing industry. Samco Ventures also offers financial advisory services serving customers in India. 

Directors of Samco Ventures Private Limited are Jimeet Vipul Modi, Sivaramakrishnan Srinivasan Iyer, Kanu Harkisondas Doshi, and Vipul Jayantilal Modi

SAMCO Securities Limited 

This is the core operating company of the group. It is a Mumbai-based online stockbroker and the execution broker for the Indian Trading League.

It provides discount broking and depository services. It also offers trading accounts for the National Stock Exchange (NSE), Bombay Stock Exchange (BSE), and Metropolitan Stock Exchange (MCX-SX). It offers these services as it is a member of the exchanges and Demat accounts as a depository participant of the Central Depository Services Limited (CDSL). It offers these retail broking solutions using a flat-fee model (This is a pricing model where a business charges a fixed rate for a service instead of charging by the hour or for use of a service). Commodity transactions are routed through SAMCO Commodities Ltd.

The products and services offered by Samco include; 

  • StockNote – StockNote is a stock trading app enabling traders and investors to buy and sell securities
  • Rank MF – RankMF is a mutual fund ranking and investment platform letting investors to buy and sell mutual funds easily.
  • CashPlus – CashPlus subscription activates NRML orders in BSE cash. SAMCO is India’s first and only discount broker to offer this facility.
  • Option Fair Value – Samco Option Fair Value is used by traders while trading index options (Nifty options) or stock options. It is used to simulate the outcomes of prices of the options in case of a change in factors impacting the prices of call options and put options such as changes in volatility or interest rates.
  • Calculator – At SAMCO, clients can calculate their entire brokerage costs and other transaction costs for their trading patterns even before they execute their trades by using the Brokerage Calculator, for both Intraday trading and Delivery or Carry Forward Trading.
  • Risk Advisor – SAMCO Risk Adviser acts as a guide to portray a honest picture of risk and its degrees of concentration or dispersion so that their clients can correct the imbalances, if any, in the portfolio, so that they can always think patiently and confidently for the prosperity in financial market and take correct decisions without unnecessarily giving thought energy to fear, loss and anxiety.
  • Data Bank – SAMCO has meticulously prepared a powerful single sheet snap shot of the entire consolidated financial position of the company giving a comparative view of the financial strength of the present and past of as many years as possible, to understand the broad picture of the performance of the company. It is user-friendly and immensely helps in taking quick and reliable decisions, along with readily computed most relevant and smart decision-making ratios for their customers to keep them at par and give them a level playing field with institutional investors in terms of data availability and interpretation. This data is offered freely at SAMCO.

SAMCO Commodities Limited

SAMCO Commodities Limited is a wholly-owned subsidiary of SAMCO Securities Limited offering discount broking trading accounts for Metropolitan Stock Exchange (MCX) trading is a member of the exchange.

SAMCO Holdings and Finance Pvt. Limited

The Non-Banking Financial Company (NBFC) arm of the group in the capital market funding business offers loans against shares amongst other financing products.

Zelman Yakubov

About the author

Hi, I am Zelman Yakubov, an expert stock market trader. My goal is to educate and mentor people that wants to learn the financial trading markets. In my free time I love to go out for various different entertainment and try new restaurants.