Edelweiss Wealth Management, part of Edelweiss' Global Investment Advisory, serving salaried professionals and HNIs, today announced a significant increase of 65% percent Y-O-Y in its user base in India for its mobile trading application - Edelweiss Mobile Trader (EMT). Over 58% of the active user base has been witnessed from non-metro cities, pointing out to an increase of tech-savy investors in Tier II and Tier III cities.
Edelweiss Wealth Management has also seen an increase of 677% in account openings through EMT, in Q1 FY21 as compared to Q1 FY20. The company's growth is attributed primarily to customised and unbiased advisory provided to investors through user-friendly and advanced technology platforms that have been developed in-house, enabling easy investment and trading in financial markets. In light of such growth and demographics, Edelweiss Mobile Trader is now expanding its' reach through the introduction of 3 key regional languages - Hindi, Gujarati and Tamil.
Speaking on this announcement Mr. Rahul Jain, Head - Edelweiss Wealth Management, said, "We are posied on the verge of tremendous and unprecedented change and the BFSI industry has kept pace with developments, staying relevant to emerging investor needs. The fact that the highest user base for EMT, stems from non-metros, validates our commitment to innovation and client-centric DNA. I am specially proud to share that around 12% of the user base is from Gujarati-speaking non-metro cities while more than 20% of the user base, comes from Hindi-speaking non-metros. Bharat is growing and with this customisation of having EMT UI available in Hindi, Gujarati and Tamil, we have now ensured that they have the necessary tools and advisory, to further compound their wealth."
Edelwesiss Wealth Management offers bespoke solutions and best-in-class services through offline and online models customized to client requirements.
Shares of Edelweiss Financial Services Ltd. was last trading in BSE at Rs.79.2 as compared to the previous close of Rs. 75.95. The total number of shares traded during the day was 236923 in over 6796 trades.
The stock hit an intraday high of Rs. 79.65 and intraday low of 74. The net turnover during the day was Rs. 18505522.