STEEL CITY Company

Steel City Company: A Comprehensive Overview

1. Company Overview

Founding Date and Background

Steel City Securities Limited, commonly referred to as Steel City, was founded in 1995 by the late Mr. G. Sree Rama Murthy Garu. The company has established itself as a prominent player in the retail stock broking industry in India, particularly in the southern region.

Parent Company/Ownership Structure

Steel City operates as a public company, meaning it is owned by shareholders who can trade its shares on the stock exchange. The company is listed on the National Stock Exchange of India (NSE) under the ticker symbol STEELCITY.

Headquarters Location

The headquarters of Steel City is located in Visakhapatnam, Andhra Pradesh, India. This strategic location allows the company to serve clients across various states in southern India effectively.

Global Business Scope

While Steel City primarily focuses on the Indian market, it offers a range of financial services that cater to both retail and institutional investors. The company has a significant presence in Andhra Pradesh, Tamil Nadu, Karnataka, Orissa, Chhattisgarh, and Maharashtra, with plans for further expansion.

Main Regulatory Bodies

Steel City is regulated by several financial authorities in India, including:

• Securities and Exchange Board of India (SEBI)
• Reserve Bank of India (RBI)
• National Stock Exchange (NSE)
• Bombay Stock Exchange (BSE)

2. Company History and Development

Key Milestones

• 1995: Steel City was established.
• 2000: The company became a depository participant of the National Securities Depository Limited (NSDL).
• 2001: Steel City gained membership with the Bombay Stock Exchange (BSE).
• 2004: The company expanded into commodity trading by becoming a member of the National Commodity and Derivatives Exchange (NCDEX) and the Multi Commodity Exchange (MCX).
• 2017: Steel City listed on the National Stock Exchange (NSE) on the SME platform and migrated to the main board in June 2019.

Business Expansion Journey

Steel City has strategically expanded its operations by establishing a franchise model that allows for a wider reach in urban and rural areas. The company has over 420 locations, including 70 branches and 350 sub-brokers across India.

Customer Base Growth

Steel City has grown its customer base significantly, serving over 200,000 trading clients. The company has focused on enhancing customer service and providing reliable trading platforms to meet the needs of its investors.

Platform Development History

The company has developed various trading platforms, including a mobile app, web-based trading solutions, and an installable trading terminal. These platforms are designed to cater to the diverse needs of its clients, providing tools for effective trading and investment management.

Important Awards or Recognitions Received

Steel City has received various accolades for its service quality and innovation in the financial services sector. While specific awards were not detailed, the companys reputation in the industry reflects its commitment to customer satisfaction and operational excellence.

3. Trading Services Offered

Forex Trading Options

Steel City offers trading in currency pairs, including major, minor, and exotic pairs. The exact number of currency pairs available may vary, but the platform aims to provide a comprehensive range to meet diverse trading strategies.

Stock Trading Options

The company provides access to a wide array of stocks listed on major exchanges like NSE and BSE. It offers both equity delivery and intraday trading options, allowing clients to choose their preferred trading style.

CFD Trading Products

Currently, Steel City does not explicitly mention the availability of Contracts for Difference (CFDs) on its platforms. However, clients can engage in trading futures and options, which serve as alternative derivatives.

Other Financial Instruments

Steel City also offers trading in commodities and provides investment options in mutual funds, insurance products, and more. The company is known for its low brokerage charges and customer-centric services.

Special Services or Unique Advantages

Steel City distinguishes itself with features such as:

• Research and Advisory Services: Offering clients access to market research and personalized investment advice.
• Margin Funding: Allowing clients to leverage their investments.
• User-Friendly Trading Platforms: Including a mobile app and desktop trading terminal for seamless trading experiences.

4. Regulatory and Legal Background

Detailed Regulatory Information

Steel City is regulated by the following authorities:

• Securities and Exchange Board of India (SEBI): Governs the securities market in India.
• Reserve Bank of India (RBI): Regulates banking and financial institutions.
• National Stock Exchange (NSE) and Bombay Stock Exchange (BSE): Oversee trading activities and ensure compliance with market regulations.

Legal Entity Structure by Region

Steel City operates as a public limited company in India, adhering to the regulations set forth by SEBI and other relevant authorities. The company has established branches and sub-broker networks across various states.

Client Fund Protection Measures

Steel City implements measures to protect client funds, including maintaining segregated accounts for client assets and adhering to regulatory guidelines on fund management.

Countries/Regions Served

Primarily, Steel City serves clients within India, focusing on southern states, with plans for further geographic expansion.

Compliance History

Steel City has maintained a strong compliance record with regulatory bodies, evidenced by the resolution of customer complaints and adherence to operational guidelines.

5. Competitive Landscape

3-5 Main Competitors

• Zerodha: Known for its discount brokerage model and user-friendly trading platform.
• Upstox: Offers competitive pricing and a robust trading platform.
• 5Paisa: Another discount broker providing a range of financial services.
• ICICI Direct: A full-service broker with a strong reputation and extensive service offerings.

Positioning in the Industry

Steel City positions itself as a full-service broker with competitive pricing. It aims to attract both retail and institutional investors by offering a mix of advisory services and low brokerage charges.

Market Differentiation Factors

Steel City differentiates itself through its:

• Comprehensive research and advisory services.
• User-friendly trading platforms.
• Commitment to customer service and satisfaction.

In conclusion, Steel City Securities Limited has established itself as a reputable player in the Indian stock broking industry. With a strong foundation, a range of trading services, and a commitment to compliance and customer satisfaction, it continues to be a viable option for investors looking to navigate the financial markets.

Learn more about Steel City

Back to top