The firm said in a statement that it will not take any new clients or fresh orders/transactions or position with existing clients.
Mumbai-based brokerage IndiaNivesh has said that it is shutting down all services related to stockbroking amid the credit freeze and unanticipated liquidity crunch in the markets due to the coronavirus outbreak. The firm said in a statement that it will not take any new clients or fresh orders/transactions or position with existing clients.It said that the ongoing coronavirus pandemic, coupled with the lockdown, has led to an unprecedented fall in the markets and has brought economic activity in the country to a grinding halt.Track this blog for all the latest updates on the coronavirus outbreak”These extraordinary events have exacerbated an economic slowdown and led to an unprecedented and unanticipated liquidity crunch,” IndiaNivesh said.Due to the credit freeze in the market, the firm said that they are unable to raise funds from financial institutions and banks, which makes the situation “unfavourable”.IndiaNivesh Shares and Securities Pvt Ltd is a SEBI-registered stocks and commodity broking entity. The brokerage firm has been in the business for over 14 years.Time to show-off your poker skills and win Rs.25 lakhs with no investment. Register Now!
First Published on Apr 1, 2020 09:02 pm