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AGSL
has entered the commodity broking segment through
its subsidiary company Ajcon Commodity Brokers
Ltd. to provide its clients a platform to trade
in a wide spectrum of commodity derivatives. For
providing these services, AJCON has taken membership
of MCX (Multi Commodity Exchange of India). The
performance of MCX has been very encouraging.
It has emerged as the country’s largest
commodity exchange among all the regional and
national exchanges in the country. It provides
nation wide services, technology driven de-mutualized
on-line commodity exchange with an independent
Board of Directors and professionals not having
any vested interest in commodity markets. It is
committed to provide a wide spectrum of commodity
derivatives driven by best global practices, professionalism
and transparency. |
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In
2006-07, agriculture and allied industries accounted
for approximately 18.50% of India’s GDP
(at factor cost) of Rs.3,743,472 billion at current
prices as stated in the RBI Annual report 2006-07.
In fiscal years 2003-2004, 2004-2005, 2005-2006
and 2006-2007, the total value of commodities
traded was Rs. 1.29 million, Rs 5.731 million,
Rs. 21.55 million and Rs. 36.77 million, respectively,
on commodity futures exchanges in India. The value
of trade since April 1, 2007 to December 31, 2007
for the financial year 2007-08 was Rs. 27.17 million.
Today, MCX features amongst the world's top three
bullion exchanges and top four energy exchanges.
The total turnover of MCX is Rs. 22,937,239 for
the Fiscal 2007 and for 9 months ended December
2007 is Rs. 20,584,937 and accounts a market share
of 75.77% as on December 2007. |
