June 9, 2021

Derivative strategies are the buzzword in the stock broking industry currently and many option traders prefer these to plain vanilla futures or options because these require less margins and offer better risk management. To improve the average daily turnover (ADTO) and market share of Sharekhan, the Advisory team has rolled out multiple strategies. For one strategy, ie Index Powerplay, they have even created a recognition plan to encourage the Sherus who have performed brilliantly in selling the Index Powerplay strategy on a monthly basis.

Many Relationship Managers (RMs) and Customer Relationship Executives (CREs) across India have been inspired by this recognition plan, one RM more so than the rest. This Sheru was previously regarded as one of the team's not so strong member, struggling to meet his revenue and ADTO targets. But in April and May of 2021, he not only topped the Index Powerplay recognition plan for both months, generating the highest turnover of Rs.269 crore and Rs.274 crore respectively, but also emerged as the team's strongest member for both months, as he increased the average revenue of April and May by more than 70% each month compared with the January 2021 revenue of Rs.3.3 lakh to Rs.5.8 lakh. We are talking about Gaurang Ray, Advisory Manager for the Vadodara branch managed by Branch Manager Anish Vaidya under the guidance of Business Head Anahita Vora. Presented below is Gaurang’s success story.

Internal Communications Team (ICT): Congratulations, you topped the Index Powerplay leaderboard in April and May this year! How does it feel?
Gaurang Ray (GR): It feels amazing and incredibly rewarding when you do something consistently with dedicated focus and get results. I'm also grateful that the Head Office Advisory team introduced Index Powerplay strategy and gave me the opportunity to prove myself. I am grateful to my Branch Manager Anish Vaidya for his unwavering support in helping me achieve the goals that were previously unattainable. I am highly motivated and excited to do well in the coming month as well.

ICT: What is your sales pitch for the customers and how do you identify customer for the Index Powerplay strategy?
GR: I have many clients mapped to my DPMS and some of them trade in options. These clients were trading index options haphazardly and losing money, so when the Index Powerplay strategy came out, I explained to them why this strategy was better than the plain vanilla options. I told them that it required less margin and offered better risk management. They took my advice and gradually began to trade in the strategy. At first, there were a few glitches in terms of performance, but my relentless pitching and unwavering trust worked wonders…and my clients began to trade in multiple lots. This strategy not only helped clients manage losses, but also resulted in a monthly profit of 3-4% (about 40% annually) in capital employed. We've also started using timing in these strategies and it's worked out well for us.

ICT: How did Index Powerplay change your daily activity and help you increase revenue and ADTO?
GR: My branch head divided the monthly income target among all the RMs and Advisors of the branch and I was consistently missing the daily revenue target by 20-30%. I tried several things but nothing worked until I discovered Index Powerplay. Not only has my revenue increased by 20%, but many other aspects of my business have also improved, thanks to Index Powerplay. Clients are relieved that they can now take control of the loss they were previously experiencing. Last but not the least, I learnt that having consistent trust and belief in what you do or recommend can help you achieve great things in life.

Index powerplay strategy kar, Sharekhan kar