Under the plan, HDFC Securities intends to offer Internet trading to retail investors and other banking and financial products.

HDFC Securities will be the second firm, after ICICI Web Trade, to offer seamless e-trading to investors as the company has a bank within the group and depository. In seamless e-trading, as the investors execute the trade, the shares are credited or debited to the client account and the money also credited or debited from the customers bank account. Presently there are a number of companies like Indiainfoline.com, Equitymaster.com, MyIris.com, IndiaBulls.com and others offering Internet trading to investors but they are not seamless in the sense that they have to tie up with banks for payment, which customers pays through cheque, and delivery of demat shares also through their respective depository participant with the instruction slip in physical form.

Talking to The Financial Express, HDFC Securities Managing Director Girish Bhagat declined to give the details of the plan and could only confirm that the broking firm would start its operation from next month. HDFC Securities was formed earlier this year with holdings by HDFC, HDFC Bank (both having 29.5 per cent stake each), Chase Capital Partner (29 per cent) and the rest by employees of the HDFC group companies. Sources said the firm also intends to sell other financial products with the main emphasis on retail investors. Earlier HDFC had also launched its mutual fund and garnered over Rs 600 crore.

The move is part of the HDFC group to have a common platform to sell the various products of the group companies. It has HDFC providing loans for house and has also recently started offering consumer loans, besides HDFC Bank offering various banking products, and the mutual fund.