Kolkata, Jun 14 (PTI) Yes Securities, a wholly owned subsidiary of Yes Bank, on Tuesday said it is bullish about expanding footprint in more cities of West Bengal, and does not foresee any adverse impact on retail investors' interest in the stock market, despite a sharp correction and high volatility.

The brokerage and wealth management vertical of the company said it is aiming at doubling its physical stock dealing branches to 24.

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"There are 12 branches at present. We hope to double this number in the next one year. We have one branch in Kolkata, and will expand in smaller cities of West Bengal as well," Executive Director of Yes Securities, Anshul Arzare, said.

The new branches are planned in Howrah, North 24 Parganas and Siliguri.

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He also said data suggests that inflows from Systematic Investment Plans (SIP) remain robust.

"The current volatility and correction (in the stock market) is short-term in nature and we think return from equities will remain stable in the three-five year horizon," Arzare said.

Yes Securities has tied up with UK-based fintech company Bridgeweave to also offer Artificial Intelligence-powered Follow the Machine (FtM) portfolios for its customers, he said.

"AI portfolios are a new addition. These will be completely managed by AI-driven systems,” Arzare added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)