New vocation for the Marathi manoos: stock trading

With changing mindsets, even the Sena leads a march to Dalal Street

MUMBAI: It’s a case of markets prevailing over mindsets. When you think of the average, salaried Maharashtrian, the things that come to mind are fixed deposits, insurance policies and government savings schemes. As for the stock market it is too risky.

But that is changing with the rapid rise of the Sensex and instant millionaire stories. The conservative Maharastrian too is dipping his toes into the choppy waters of stocks. And what is even more path-breaking is that the Shiv Sena is helping them invest.

“As children, our parents equated investing in stocks with gambling,” says Ajay Walimbe, managing director of Pune-based Legasis Legal Processing Outsourcing. He got into stocks early on, but credits his non-Maharashtrian friends for that.

The Sena, which usually tends to demand that locals be employed as clerks and peons is now holding workshops to educate Maharashtrian youth in ways to invest in stocks or, better still, become brokers.
 
“Our youth must participate in the economy boom,” says Sanjay Raut, spokesperson of the Shiv Sena.

Ameya Ghansasi, a 27-year-old who says he had to give up his studies opened a demat account. “Today, I easily earn Rs10,000 a month only through stock trading. We Maharashtrains tend to save money in banks, but I wanted to break away from this trend.”

k_neeta@dnaindia.net