CLIENT BASE
Sebi's levy order likely to erode Rs 2,000 crore from discount brokers' income, hit client base
Several brokerage companies, including IIFL Securities and Motilal Oswal Financial Services, saw share declines of 3% to 7% due to the regulatory order affecting brokerages, potentially leading to adjustments in zero-payment plans or increased rates.
Sagility India files draft papers; seeks Sebi's nod to float IPO
The company, in its draft papers filed on Friday, said that the objective of the initial share sale is to gain the advantages of listing the equity shares on the stock exchanges.
AI startup OrbitShift raises $7 million in funding led by Peak XV's Surge, Stellaris Venture Partners
AI startup OrbitShift has raised $ 7 million in funding from Peak XV Partners' accelerator programme Surge and Stellaris Venture Partners. The AI-powered sales intelligence startup will use the capital to increase its customer base in the US, and invest further in technology and product team to hone its portfolio.
PSU banks still remain top bet in financial space: Rahul Shah
I think the mood is very positive. Obviously, as you rightly said, a lot of people missed out last Tuesday when we saw the sell-off in the markets and obviously, so I think luckily most of them are still holding on to their positions and not sold it and they are just riding it.
Midcap IT companies in India poach talent from industry majors
Midcap IT companies in India are attracting more employees from larger rivals in the past two years. This trend is seen in the technology services sector amidst macroeconomic challenges and a focus on hiring deployable talent.
Investors to get direct payout of securities now
Sebi mandates direct transfer of securities to demat accounts by clearing corporations to protect clients' assets. A Balakrishnan from Geojit Financial Services praises the move for enhancing security, ease of margin trading, auto pledge for funded stocks, effective from October 14, improving the margin trading facility.
How an Israeli firm tried to build anti-BJP narrative during polls
OpenAI claims to have disrupted an AI-based covert operation launched by an Israeli firm that allegedly peddled anti-BJP agenda. In 2021, the BJP government drew flak after Israeli spyware Pegasus was allegedly used to snoop on journalists, Opposition leaders and rights activists
GlobalLogic sees increased business from India-based GCCs
GlobalLogic has seen a significant increase in its India business due to the growing number of global capability centres (GCCs) in the country, according to the company's top executives.
ETMarkets AIF Talk: This Rs 300 crore fund manager unveils M.E.R.I.T strategy to pick investments for portfolio
Himanshu Kohli, Co-founder of Client Associates, discusses identifying themes early for investors and the fund philosophy emphasizing value in business with strong fundamentals and execution. He mentions raising Rs 300 crore in AUM.
Indian IT sees deal tenures shrinking in rich neighbourhoods
At least two companies – HCLTech and Birlasoft – have gone on record to say that from the usual 10-12 year deals earlier, long-term arrangements are now ending in four years. Earlier, the tenures ranged between 10-12 years.
Four European Union banks seek RBI nod for clearing model
"There was a meeting last month between the heads of four European banks and top RBI officials. The banks have sought the RBI's approval on the proposed third-party model because there is no established rulebook for this kind of arrangement," a source aware of the developments said.
Wait for Awfis Space Solutions to deliver stable profitability
The company has an asset-light business model and is debt-free. However, limited operating history, consistent losses, scalability of business, and sustainability of long-term contracts with clients are a few concerns.
Upstox enters insurance distribution business
HDFC Life is among the first insurers to partner with Mumbai-based Upstox, featuring its term insurance plans on the platform
Rupee strengthens to highest in a fortnight, logs weekly rise
The Indian rupee closed higher on Friday after rising to its highest in two weeks, aided by likely intervention from the Reserve Bank of India (RBI) and broad-based interbank dollar sales in the latter half of the session.
Sebi eases KYC norms for mutual fund investors
In October, Sebi asked all investors to redo their KYC process after submitting the required documents. The official valid documents were Aadhar, passport, or a voter ID card. Earlier a bank passbook or a bank account statement was considered a valid proof of address to do their KYC.
ETMarkets Smart Talk: Nifty hitting 24K is subject to Indian elections results and Middle East tensions: Sandeep Raina
Sandeep Raina of Nuvama projects Nifty50 levels at 24,000 to 25,000 based on expected EPS, influenced by Indian Elections and Middle East tensions. Market trends may align with US Fed’s policies, impacting inflation and equity performance. Raina further says that Indian markets will largely respond to the corporate earnings reports.
Most clients set up to trade in Indian bonds before index inclusion: JP Morgan
India's upcoming inclusion in JP Morgan's GBI-EM Global Index Suite involves positive market feedback and enhanced accessibility for FPIs through Fully Accessible Route bonds, leading to increased interest from investors globally.
Citi targets clients with a ‘digital nexus’, high transaction volumes
Citi is strategically targeting high transaction volume sectors in India like industrials, auto supply chains, clean energy, mobility, consumer, and healthcare. The bank aims to maintain its lead in funding digital disruptors and supporting startups in navigating market conditions.
Angel One to stop doing business in currency derivatives segment on BSE
Angel One is the largest listed retail stock broking house in India, in terms of active clients on the NSE. It provides broking and advisory services, margin funding and distribution of third-party financial products to its clients.
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