April 19, 2022

Three Sherus including SuperTrader Relationship Managers (RMs) Ashish Gupta and Manish Patle from our Bhilai branch, and Chirag Joshi, Senior Manager – Branch Business, from our Nagpur branch, are doing a fantastic job of promoting the Bank Nifty Expiry Strategy and generating revenues from it. The Bank Nifty Expiry Strategy, as you know, was introduced in August 2020. Since then, we have been rolling out the expiry strategy on every expiry day. This strategy has consistently performed well, with a strike rate of more than 70%.

Ashish and Manish did exceptionally well with the strategy in March this year and both have continued to be at the top of the chart for most of the weeks. On March 24, 2022, they achieved Rs.250 crore of average daily turnover (ADTO) together, accounting for 7% of the ADTO of that day in the strategy. They are experts in doing various managed strategies. Previously, they had achieved great success with Index Power Play and Banko (last year, they added nearly 25 clients for Banko). They along with their Branch Manager, Nitin Sharma, are committed to growing the managed strategy revenues of the branch and it is quite visible in the overall performance of the branch, which is part of the cluster led by Vivek Saraf, Business Head.

Chirag Joshi, on the other hand, has taken the Bank Nifty Expiry Strategy to new heights by introducing the concept “Limitless Thursdays” wherein he motivates not only his branch but also all the other branches in the cluster led by Sujatha Raman, Business Head, to achieve a predefined revenue target from the Bank Nifty Expiry Strategy every single Thursday. Let us hear their success stories today.

Internal Communications Team (ICT): Congratulations! You have been consistently featuring among the toppers on the Bank Nifty Expiry Strategy 2022 leaderboard. How does it feel to be recognised?

Ashish Gupta (AG): Obviously, it feels great whenever you achieve something and get recognised for it. But I must say it was all possible because of our team effort.

Chirag Joshi (CJ): On every Bank Nifty Strategy day, we at the Nagpur branch are doing more than 80 clients, which means we do brokerage of almost Rs.25,000 to Rs.28,000 collectively on a single day from this strategy alone. It feels really great and I am really happy to be recognised for my ideas and achievements.

Manish Patle (MP): It always feels amazing to be recognised and as far as achievements are concerned, it was the vision of our Branch Manager, Nitin Sharma, and the confidence he placed in our abilities. He taught us that whatever we do, we would have to set our own benchmarks first and being on top was one of our goals.

ICT: How did you manage to deliver such a stellar performance consistently?

AG: We as a team were of the opinion that we must add value to all our clients as a full-service broker and we did so successfully in the past two years under the valuable guidance of our Branch Manager, Nitin Sharma. So it became easy for us to enrol maximum customers for the Bank Nifty Expiry Strategy too. We also received valuable support from technology itself, ie the bulk order mechanism, which helped us ensure scalability.

CJ: Since the day the Bank Nifty Expiry Strategy was rolled out, my team and I have been very aggressively working on it to make it a success. We focus on increasing the participation of customers which, in turn, increases the revenue and market share. My approach initially was to first make my team aware about the reason why this strategy was introduced in the company and how it would affect our business and give quality client participation. The team was very enthusiastic to make this strategy work. To take the very first step, we set a target of five clients and gradually increased the goal count to 7, 10, 15 and so on. Currently, we have reached a goal line of 22-25 clients per RM and so my team has been at the top in the Bank Nifty Expiry Strategy across India for the last four weeks.

My Cluster Head, Sujatha Raman, appreciated my work and entrusted me with the responsibility to motivate our cluster and increase our participation. So I identified Thursdays as Limitless Thursdays in which each RM has to achieve a target assigned to him or her. The entire cluster is motivated to do this strategy and every week data is collected on all positive clients. Talking of how we do it, we explain the strategy to unique clients over the first half of a week and obtain their consent to trade on Bank Nifty as per the strategy. Before the expiry day we get reconfirmation from clients and tell them to keep sufficient balance. Each team member is allocated a targeted number of customers whom they should connect with. Gradually, then we try to increase the quantity in a client’s account.

MP: For the past two years, we, as a team here at Bhilai branch, have worked hard to implement product differentiation for all our clients and to offer them true value addition through our knowledge, expertise and skills. So we had a good idea about the clients who would be comfortable with the Bank Nifty Expiry Strategy and I could go out and enrol as many clients as possible for this strategy.