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JRG Group to expand

Special Correspondent

Kochi: JRG Securities, brokerage house, has announced appointment of Anand Tandon as CEO for the JRG Group. He was till recently Head of Equities at Brics Securities.

JRG Securities also declared its half-yearly results. For H1 FY11, company posted a net profit of Rs.1.07 crore. In light of sluggish environment, the company saw a decline of 4.4 per cent in revenues.

Announcing the results, Chairman Rahul Bhasin said the company is set to pursue aggressive expansion plans and will raise Rs.70crore through debt and equity in the near term.

The company recently got approval from the Company Law Board vide to proceed with the right issue as resolved in the board meeting held on May 25.

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