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Dear Sheru,
I hope you and your loved ones are well, safe and in good spirits in these trying times.
It has been 49 days since we have been in the lockdown but I am proud to say that we are navigating the new reality well. We are bravely dealing with the challenges of the lockdown, competently performing our duties from a changed, sub-optimal work environment, and doing our best to help customers. Business is running as usual and we are able to provide all services to customers. Through our service and value proposition, we have retained the trust of our top clients. Our biggest clients before the lockdown did not reduce their business with us during the lockdown and almost 80% of them continued to be significant revenue contributors even in this tough period. The number of portfolio-holding clients has gone up 6% in the same period. What’s more, the absolute number of daily trading clients has also increased by over 30% in the lockdown. Our front-end and support teams are collectively performing and helping customers to navigate the current market situation in the lockdown. A big thank you to Team Sharekhan for making this happen.
I also congratulate the Brand & Communication, Research (Fundamental, Technical and Commodities), Customer Service, Digital Marketing, Analytics, Digital Assets, Advisory, Network Management, Classroom and the IT teams for collaborating in these tough working conditions to roll out the #SafeTodayStrongerTomorrow package for customers and the public. Our research and services available exclusively to customers so far have now been opened up for the entire retail investor community of the country through the package that provides capital market essentials to everyone, be it new investors, seasoned investors, traders or even those who need to but have not yet started investing. We are promoting the package on social media and have received good press coverage for it. The package can be downloaded from our website and I urge you all to share the download link with customers, both active and inactive, as well as prospects. Just as we are practising social distancing and hygiene to protect our physical health, it is essential to take care of our financial health in the lockdown.
Meanwhile, the government has extended the nationwide lockdown by two weeks to May 17. Will the lockdown end on May 18? My sense is that all states may not come out of the lockdown together. A staggered zone-wise exit from the lockdown appears more likely. More pertinent, at the time of announcing Lockdown 3.0 to protect lives, the government also announced some relaxations to support the livelihoods of people. Accordingly, private offices in red and orange zones were allowed to operate with 33% of their strength with the rest of the staff working from home. This is allowed, provided all protocols related to social distancing, wearing masks, download and usage of Arogya Setu app, sanitisation and maintenance of high levels of hygiene etc are strictly adhered to while traveling to work and at workplace.
At Sharekhan, we are taking a guarded approach and are working on a phased unlocking plan. We have put in place stringent checklists for offices to be able to start operations. Business continuity as well as safety of our Sherus is at the heart of this unlocking plan. The teams involved in the unlocking plan are doing their best to adhere to these principles. They will start communicating with you the advisories and protocols to be followed from time to time. All employees are requested to follow all health and hygiene protocols at work for their safety and that of their colleagues.
I appreciate the effort you and your colleagues are making to balance office and home in these tough conditions so that the company can continue to service its customers in the lockdown. I am sure it has not been easy and am keen to know how you are managing to perform your duties in the lockdown. Participate in the Lockdown Employee Feedback Survey 2020 to tell the management about your experience of working from home or office in the lockdown. It is a five-minute survey and I want every Sheru to participate in it. We extended the survey by two days to allow you more time to have your say. The survey closes today, so do take out five minutes to share your feedback. It will help us to find the right solutions for you.
Hopefully, we have sailed through the worst of the crisis. Let us now, slowly but surely, start preparing for the unlockdown.
Continue to take care of yourself and your loved ones.
I wish you all the best.
Jaideep Arora
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