Mangal Keshav Securities: embedding innovation in trading since 1939
Our core values are dedication, honesty, professionalism, friendliness, and impartiality.
The history of stock markets and broking in India is antiquated. Indian stock market – the oldest stock market in Asia, dates back to the 18th century when the East India Company would transact loan securities. In 1875, Asia’s first stock exchange, the Bombay Stock Exchange was established. The new building where BSE building now stands was acquired in 1928 and occupied in 1930.
When the country was being introduced to the modernized way of finance, Mr Mangaldas Bhagat was shaping the growing phase of stock marketing and giving it a new direction, with the Mangal Keshav Group. Way back in 1939, he established M/s. Mangaldas Keshavlal as a partnership concern. From its humble beginnings, the Mangal Keshav Group has established itself as one of the premier brokers in the equities and derivatives market for retail and institutional customers across India with its transactions being spearheaded with state-of-the-art technology.
By embedding the latest technology across operations, the company is trying to elevate the customer’s trading experience through customized, seamless and secure trading solutions. Mangal Keshav has emerged as the broker of choice with more than 325 business locations in over 80 territories of the country.
Services provided under the umbrella of the Mangal Keshav:
The Mangal Keshav Group of Companies provides various personalized wealth management and investment services:
- Broking (in Equities, Commodities & Currencies)
- Mutual Funds
- Insurance (Life & Non-Life)
- Corporate FDs
- Wealth Management
- IPO and NRI Services
USP of the Company
In the competitive world of broking, the service charge can never be the USP. Mangal Keshav has been able to sustain and grow over the past eight decades based on its service levels and relationships. Be it the clients or staff everyone is treated as a part of the Mangal Keshav family. Here, the company builds relations for life. In today’s cutthroat business environment of hire and fire, the team has retained its core motto, and it has been handsomely rewarded for the trust and faith they have kept with everyone. A few members of the team had, in fact, started their careers as dispatch and delivery boys. However, seeing talent & potential in them, the company gave them an opportunity and their steady rise through the ranks is a testimony to the basic DNA of the company. This feeling of family extends well beyond to its clients as well. It has taken the adage “Service with a Smile” to the next level.
2019 Innovations and Investment Plans of Mangal Keshav
2019 is going to be an exciting year for Mangal Keshav. In January, it has launched an upgraded mobile trading app with a host of new features. The company is aggressively augmenting the other business verticals namely microfinance, insurance, AIF, PMS, prop desk, and wealth management while maintaining its emphasis on online penetration. The group has budgeted INR 20 crores towards its expansion for technology, quality workforce, and infrastructure for this year alone.
Paresh Bhagat, the CMD of Mangal Keshav is strengthening investors by educating them about various investment strategies and techniques. He is a well-known and highly respected captain of the Indian financial industry having an experience of over forty years in the sector. Paresh performs his duties with commitment, leads with confidence and inspires to impact others. He had started trading at the age of 12. In those days, he was trading only on two days, Budget Day and Muhurat Trading during Diwali. By the age of 16, he had started trading full time.
To know more about the Mangal Keshav Securities and the industry, we interacted with Paresh Bhagat.
Here are the edited excerpts of the interview.
What were the complications of getting the company off the ground? Share your experience.
We have to take many defeats to make a victory. When I took over Mangal Keshav, it was in debt and, I had the unenviable task of reversing the fortunes of the company. From those days to where we are now, it has been a great journey. However, whatever we have done and achieved till date is just a precursor for the road that lies ahead. Today, the company is at a crucial crossroads in its evolution. We have undertaken a complete overhaul and restructuring of processes. This makeover involves a single-minded drive in achieving its mission to provide financial freedom to everyone.
Kindly provide some glimpse of the future of the Domestic Stockbroking Industry.
The industry is shifting towards the online sphere. Size will survive while those continuing with age-old practices may be left by the wayside.
Do you think the recent wave of an elongated period of volatility invites a shift back to active management?
In the modern world of algo trading, there are numerous algo readers that understand algos making most algos obsolete in a few months. Thus, automated strategies get out-of-date faster than they come in. In such a fast evolving business environment, one needs to have a management team that is quick on its feet and proactive in its approach.
The advantage with us is that we have seen bull and bear cycles extending prior to India’s Independence and World War II. We have been able to adapt ourselves to the changing times. Our success has been due to active management, and this style of management applies to market volatility as well. One should have strong risk management parameter, but, more importantly, one must have a hands-on and pre-emptive approach.
Where do you see the most opportunity in today’s market?
With the ever-growing upper middle class in India, we foresee people in the 25-50 lakhs per annum bracket to be growing at the fastest pace. This segment will be the new benchmark.
These professionals would, in turn, seek reliable, trustworthy advisors for online financial planning. It is the space for the future. We are looking to address this need for structured financial planning – leading to financial freedom.
Who are your inspirations?
Ray Dalio and James Simons
Disciplined, patient, and willing to learn
Word to the Wise
Study hard, identify your passion and be prepared for sacrifices
Chintan Bhagat, a fourth generation scion, is involved with the group for over a decade. His “trial by fire” initiation into the financial world required him to insulate the group from the then ongoing Global Financial Crisis of 2008. Chintan recognised the fading influence of age-old methods of broking, implementing newer products including his pride of place – a self-adaptive quantitative algorithm automated trading software that provides buy and sell executions). He also diversified the group interests establishing an NBFC vertical as well as Hedge Fund business and strengthening the proprietary trading desk. Presently, Chintan is involved in the second wave of corporate restructuring at the group prepping up for the new challenges business environment. Chintan is armed with a graduation degree from Babson University – the world’s leading university for Entrepreneurship.