STOCKBROKING
How Sebi action will impact profits of discount stock broking firms like Zerodha and Groww
Market regulator Sebi mandated in its July 1 circular uniform brokerage charges that are not based on volumes. Due to this, tech-first brokers are staring at impact on valuations. Platforms like Shoonya and Mstock charge zero brokerage fees, and they are bracing for impact from Sebi's instructions. Venture fund-backed startups like Groww, Upstox, Zerodha and listed discount broker Angel One will also have to start charging their customers.
Sensational Index 80K: With Budget on horizon, bulls hit new milestone in T20 style
Equity indices soar as Sensex hits 80,000 fueled by banking stocks. Market anticipates rate cut, global support, and foreign investment. Earnings rise expected with stock rotation amidst market surge.
Demat POA misuse prevention: Stockbrokers implement a new authorisation method for demat debit and pledge, should you opt for it?
Demat account: Zerodha, FYERS and other stock brokers have enabled DDPI mechanism for their customers. This new mechanism replaces Power of Attorney (PoA) mechanism, however opting for it is optional for you. Read here to know whether you should stick with PoA, e-DIS (OTP and TPIN) or use the new DDPI method to authorise demat account transactions.
New feature by CDSL to prevent demat related fraud: Know how this will make your accounts with Zerodha, Groww, FYERS and others safer
Demat account: If you have a CDSL demat account (used by stock brokers like Zerodha, Groww, Mirae, Upstox, etc) then you are now set to be protected against fraud after CDSL implements a new two factor authentication feature on the EASI and EASIEST portal. Read here to know more about this.
How tech-first stock brokers are diversifying into lending
Stock broking startups are focusing on consumer loans as they look to diversify their business area. Large stock brokers like Groww and Angel One are disbursing strong numbers for personal and consumer loans. Groww is facilitating disbursement of around Rs 250 crore of personal loans every month, while Angel One is handing out around Rs 50 crore monthly.
Result day today, keep your shirt on
Stockbrokers advise clients to keep extra margins for trading on election results day amidst rising volatility index, exceeding exchange limits, and cautioning investors to heed advice. Markets react to GDP data and upcoming central bank review. Incoming government's monetary and fiscal policies will impact market. Budget and policy continuity influence systematic investment.
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PFRDA reviews strategies for expansion and distribution of NPS
Almost 63% of the enrolments in the voluntary segment (UoS-All Citizen) were sourced through the extensive efforts of PoPs, which include banks, NBFCs, stockbroking firms, fintech companies and pension funds, it said. "During the year, 3,112 corporates got registered under the NPS corporate model, which has been the highest number so far," the statement said.
Now transfer your shares to anyone through off market transfer just like money transfer in net banking
Demat account share transfer: The process for transferring shares from demat account using off-market transfer process has been revised. This process is applicable from Jan 1, 2024. Read here to know more about how the off-market transfer from demat account works and how it can help you transfer shares without waiting for market hours.
Anmi recognises ETMarkets for exceptional financial market coverage at 13th international convention
Anmi or Association of National Exchanges Members of India is a pan India body of trading members across NSE, BSE and the Multi Commodity Exchange of India (MCX), representing 900 stockbrokers.
Cement producers to see 80-100% surge in profits for December quarter
Operating margins, meanwhile, are seen almost 450-500 basis points higher as compared to the previous year. JK Cements is likely to see its margins improve by more than 750 basis points, while that of Adani-group owned Ambuja Cements and ACC are seen expanding by more than 500 basis points.
Deepfakes a ticking bomb for video KYCs; Indian startups cut 28,000 jobs in brutal 2023
Nithin Kamath, the chief executive of Zerodha, one of India’s largest stockbrokers, took to social media to post a deepfake image of himself and pose questions about how it can impact the finserv industry.
Angel One Q2 Results: Profit zooms 43% to Rs 305 crore
However, Angel One said the prohibition did not affectits client acquisition, which rose nearly 80% during the quarter, while the total number of orders advanced more than 36%.
Infosys, HCLTech report Q2 profits; Groww becomes India’s largest stockbroker
Indian IT majors Infosys and HCLTech reported profits for the second quarter of FY24, despite numerous headwinds plaguing the sector. This and more in today’s ETtech Top 5.
Groww goes past Zerodha, becomes India's biggest stockbroker with 6.6 million active users
In terms of active clients, Groww is now at the top with 6.6 million users, followed by Zerodha, which has 6.4 million active users.
Zerodha's FY23 revenue jumps 38% to Rs 6,500 crore
NSE data shows that as of August, Zerodha had around 6.3 million active clients. The company said that around 20% of the country’s overall trading customers work with Zerodha, and that it is adding close to 250,000 customers every month.
Groww likely to pip Zerodha in active investor count this month
Groww added almost a quarter million new active users in August, one of the people said. In July this number was 330,000. Zerodha, on the other hand, added 33,000 and 88,000 active users in the previous two months.
PhonePe enters stockbroking; Swiggy tests bundling for ‘One’ subscriptions
PhonePe said in a statement that Share.Market will elevate discount broking through ‘WealthBaskets’, a market research-based technology platform that will provide stock market intelligence.
How Sebi's new rules can impact the future of discount broking in India
India's stockbroking industry is shifting towards online trading platforms and discount brokers thanks to lower costs. Despite the disruption of traditional brokers by discount brokers, the former still offer comprehensive services, including trading in stocks, commodities, currency, asset management and retirement planning. Regulatory changes from the Securities and Exchange Board of India will increase compliance costs for discount brokers, but lead to increased demand for traditional brokers who provide advisory services. Separating advisory from broking business ensures the industry is fair, ethical and transparent, allowing it to continue to evolve and innovate.
Zerodha’s new Demat account opening back to March 2020 levels: Nithin Kamath
The reason is outside observers usually look at headline numbers of trading volumes and assume that broking is a huge opportunity with a large revenue pool that will grow forever. In reality, it's a cyclical business that tends to revert to the mean, the billionaire startup founder said.
Brokers playing key roles face higher obligations
"Certain stockbrokers, due to various factors like their size, trading volumes and amount of clients' funds handled by them, have come to occupy a significant position in the Indian securities market," the regulator said in a circular, adding that this was leading to concentration of activity among a few stock brokers.
To check fund misuse, secondary market trades may get ASBA-like settlement
The capital markets regulator proposed that the Unified Payments Interface (UPI) mandate service of a single block and multiple debits can be integrated with the secondary markets to enable clients to block funds in their bank account for trading in the secondary market, instead of transferring it upfront to the trading account maintained with the broker.
Demat account log in will not work without this from October 1, 2022
Demat account holders will not be able to log in to their accounts to trade in the equity markets if they have not enabled the two-factor authentication. This has been said via a circular dated June 14, 2022, issued by the National Stock Exchange. Read on to know more about this circular.
Sebi comes out with guidelines for stock brokers providing algorithmic trading services
The unregulated platforms are offering algorithmic trading services or strategies to investors for automated execution of trades. Such services and strategies are being marketed with "claims" of high returns on investment, Sebi said in a circular.
Australian shares end week higher on tech gains
Stock markets globally have been whipsawed in recent sessions as investors debate whether equity valuations have hit a bottom in the wake of a sharp selloff induced by fears of an economic slowdown.
Australian shares pushed higher by gold stocks and Woodside Petroleum
Miners climbed 0.6% after a three-day slide, even as iron ore prices remained pressured due to Beijing's sustained efforts to stem any market irregularities.
GenNext's D-Street trades book big profits for brokers
ICICI Securities has reported a 52% year-on-year jump in revenues at ₹942 crore in the December 2021 quarter, while its net profits surged 42% to ₹380 crore. Equities and allied business of ICICI Securities rose 36% year-on-year to ₹596 crore in the December 2021 quarter. The firm has added nearly 680,000 new clients, the highest ever addition in a quarter.
Stockbrokers set to grab big share of digital gold trades
India's digital gold market is set to experience disruptions in the coming months as the bulk of the transactions could shift to brokers regulated by the Securities and Exchange Board of India (Sebi). The regulator issued final rules for Electronic Gold Receipts (EGRs) last week, which provides several safeguards for investors while the brokers would also be subject to higher scrutiny, said senior market participants.
Energy, mining stocks boost Australia shares to 4-month high
Investors appeared to show scant response to reports of local COVID-19 infections hitting a record high and hospitalisations rising due to the Omicron coronavirus variant, with the Australian government remaining headstrong in its decision to reopen the economy.
Australia shares end higher on energy stocks, miners boost
The S&P/ASX 200 index rose 0.35% to close at 7,379.3 points, rebounding from a 0.4% drop on Friday.
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