Movie superstar Mohanlal enters stock broking business

Kochi, Aug 26 : Veteran movie superstar Mohanlal is now busy expanding his business empire. He has launched a stock broking company Hedge Equities.

"Mohanlal is a partner and also the brand ambassador of the company," the managing director of the company Alex K.Babu told IANS after the official launch of the company here Monday.

"Our company has a net worth of Rs.80 million which should shortly touch Rs.100 million," he said adding "Now we have 15 branches but we will have 45 branches all over south India by the end of this fiscal."

Mohanlal has been closely associated with Babu's parent company which is one of India's leading seafood exporters.

The superstar is also into the hotel business with a chain of hotels located both in India and abroad. He is also planning to launch a few schools shortly to enter the cash rich education business.

A leading merchant banker Fedex Securities is one of the main promoters of Hedge Equities.

Mohanlal said that he decided to be a partner in the new business because he knows the promoters of Hedge Equities quite well.

"We are basically targeting the small investors and we are confident that we will be able to guide them in the best possible manner," the superstar said.

"We want to be a revelation to them since this business here is still in its infancy," he said.