Reliance Money launches financial mobile portal

Reliance Money, online trading platform of Reliance Capital, will soon launch a mobile financial portal in alliance with Webaroo Inc. to give complete financial information for 200 million mobile users without any fee. This facility will be available for free for both GSM and CDMA users. This is the first financial service to provide free information for all mobile users. Customers of Reliance Money can access portfolio, trade book and order book through this mobile financial portal. Mobile users now get free mobile alerts on key financial matters through this service. This will help Reliance Money to reach more users and may soon become No.1 online trading portal. Reliance Money wants to expand the current 3,237 outlets to more than 10,000 by the end of 2007-08.

Reliance Money earlier acquired “TravelMate”, to enter the money changing business. Reliance Money wants to become the largest vendor of gold coins in the country. It seems to have very big plans on the untapped retail category. It will be difficult for small companies to face this onslaught from Reliance Money in trading business. It is already very popular among customers due to its low brokerage charges. Reliance Money was selected as the safest and cost efficient trading platform in the recent survey.

Note: My sincere apologies to all the regular readers for not updating this blog. I will start regular postings from Monday onwards. I am happy as my favourite stocks like IFCI, TFCI, Ispat Industries, Praj Industries and R-com gave me very good returns. I missed Mercator Lines due to delay in taking quick decision. I have partially sold my shares in IFCI, TFCI and Reliance Communications. I will hold Ispat, Fortis and Dish TV shares for another 2 years. Short term outlook for markets is negative but long term view is very good. Book profits in BHEL and Reliance etc.

I will update with more detais on the Reliance Money Financial portal in the coming days.