Broking biz is Mohanlals new company

Written by Corporate Bureau | Kochi, Aug 26 | Updated: Aug 27 2008, 06:33am hrs
Unabashed by setbacks in several business ventures, Malayalam cinema superstar Mohanlal has now launched a broking firm co-partnering Fedex Securities and four others. Kozhikode-based Baby Marine Exports, Smart Financial, Thakker Group and SM Hegde of Videocon partner Mohanlal and Fedex in the new venture titled Hedge Equities. In the launch function held here on Monday, The promoters claimed that the company will enable customers reap rich profits regardless of market swings.

Hedge Equities plans to open 16 branches in Kerala. The promoters claimed that only 5% of the population in Kerala invests in stocks as compared to 40% in Mumbai and Gujarat. The focus of the firm is likely to be south India, where the actor could help in communicating with the target audience.

The newest venture of Mohanlal, a recipient of several national and international awards, follows his forays into seafood, curry powder, hospitality, movies, studios and multiplex construction businesses. He also runs a chain of restaurants in the Middle East called, Mohanlals Taste Buds. He has a stake in a Bangalore restaurant called Haber Market. His business interests also extend to a listed company called Uni Royal Marine Exports where he is the director. However, this company is rarely heard of and traded in the exchanges. Mohanlal also had to sell a curry powder carrying his name after the business ran into supply constraints. The actor drew solace from the fact that he was retained as the brand ambassador and featured in all ensuing endorsements. Contrary to these lacklusture ventures, the movie stars dubbing and television production business is doing fine.