March 18, 2024

Not so long ago our Chandigarh branch was struggling in the currency broking business. Hardly any client was trading in currencies and annual targets were difficult to achieve. Then in November of 2023 joined Relationship Manager Ram Sharma and in a span of just three months, the branch transformed into a leader from the laggard that it was. In February 2024, the branch generated currency broking revenue of Rs.3.75 lakh in a single day, the highest daily revenue generated by any Sharekhan branch ever in currency broking. What's more, in January and February of 2024 taken together, the branch generated total revenue of about Rs.15 lakh from currency broking.

Ram has single-handedly put our Chandigarh branch on top in the Branch Network in the currency broking business. The number of clients activated in the currency segment has also increased manifold since Ram joined. The revenue graph is moving higher and the region is performing exceptionally well in the business. So what did Ram do differently to achieve this tremendous success? This is Ram's story in his own words. It's time to get inspired.

Internal Communications Team (ICT): How does it feel to be featured in the Sharekhan Success Stories?

Ram Sharma (RS): I am happy that I have been able to deliver results in a very short time. I feel immensely proud of my performance and am very happy that my contribution is being recognised and I am being featured in the Sharekhan Success Stories.

ICT: Tell us a little more about your achievement.

RS: I joined the Chandigarh branch of Sharekhan three months back. Before that our branch was earning meagre revenues of Rs.2,000 a month from the currency broking business. We had only four or five clients active in the currency segment. Today, the Chandigarh branch leads all the other branches in our Branch Network in the currency broking business. We did total currency broking revenue of Rs.15 lakh in January and February taken together this year of which Rs.13 lakh was done in February alone. We now have 20 clients in the currency segment.

ICT: Did you face any challenges? If yes, how did you overcome them?

RS: Yes, we did. Initially, clients were reluctant to start in the currency segment since they did not have much knowledge of currency trading and currency trading products.

As soon as I joined, I started calling clients who had knowledge or prior experience of trading in futures and options. I explained to them the benefits of trading in currencies. Those who seemed interested, I persuaded them to have a face-to-face meeting to explain to them the trading strategy as well as the risks and rewards of trading in currencies. Eventually, I convinced them to put some funds into currency trading. After a few weeks, the clients gained confidence which also led them to provide references for currency trading.

In about two months, the Chandigarh team collectively activated about 15-16 clients through which we managed to increase our revenues manifold. The key to overcoming the challenges was to win client's trust by educating them in currency trading and highlighting its benefits. Once that was done, then slowly trust was built and clients gained confidence that they could trade successfully in the currency market too.

ICT: Your message to Sherus?

RS: Have trust in the currency segment, gain knowledge of currency trading and then get the clients to trade in currencies. We can contribute a great deal to the company’s revenue and growth through this segment.

If you too have a success story to tell, please write to us at priya@sharekhan.com.