ZERO BROKERAGE
Nirmal Bang initiates coverage on HUDCO, sees upside potential of 12%
Nirmal Bang starts coverage on HUDCO with a target price of Rs 375. Company projected to achieve 24.1% earnings growth CAGR by FY26E.
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.
Zerodha’s Nithin Kamath sees end of road for zero brokerage model after new Sebi rules
Exchanges often charge a lower fee to brokers if they generate high volumes. Brokers, in turn, charge traders little to no fees, which has contributed to a surge in trading across segments like derivatives that the Securities and Exchange Board of India wants to curb.
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.
Sebi diktat: Big impact if brokerages do not change their revenue model: Ajay Kejriwal
The Sebi diktat on differential offerings could impact profit in the range of say 2% to 5% minimum to up to 30%. So, depending on the brokerage model, what they are offering, and what kind of model they are retaining. So the brokerage houses will have to tweak their models, says Ajay Kejriwal, CEO, Choice Equity Broking.
Zerodha may end zero brokerage structure for equity delivery trades after Sebi's order: Nithin Kamath
With the new Sebi circular that mandates uniform charges by market infrastructure institutions like stock exchanges, brokerages are feeling the heat. Zerodha's Nithin Kamath on Tuesday said the brokerage may have to go back on zero brokerage structure or increase brokerage for F&O (futures and options) trades.
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Zerodha to end zero-brokerage model; Unacademy lays off 250 employees
Online stock broker Zerodha will likely discontinue its zero-brokerage structure due to new Sebi rules. More on this in today’s ETtech Top 5.
Zero factual inaccuracies with our Adani research: Hindenburg on Sebi notice | Read short seller's full response here
Adani-Hindenburg Case: US-based short-seller Hindenburg Research stated Kotak Bank, one of India’s largest banks and brokerage firms founded by Uday Kotak, which created and oversaw the offshore fund structure used by our investor partner to bet against Adani. Instead it simply named the K-India Opportunities fund and masked the “Kotak” name with the acronym “KMIL”
Hot Stocks: Brokerages on HDFC Bank, RIL, Dr Lal PathLabs and Shriram Finance
Jefferies, UBS, and Bernstein provide buy ratings on various companies with target prices. Jefferies recommends BUY on Shriram Finance as it sees steady asset quality. UBS is optimistic about the earnings visibility and consumer businesses of RIL.
Brokerage firms warn of ‘regulatory overhang’ around Paytm’s future
The ‘regulatory overhang’ and ‘reputation harm’ can have a long-term bearing on the fintech firm’s overall business and profitability plans, analysts said.
F&O stock strategy: How to trade Titan, HDFC Life shares on Wednesday
Nifty faces substantial resistance in the range of 19800-19900, and a breakthrough of these levels could trigger a swift upward movement, prompting an unwinding on the call side and potentially propelling the Nifty to the 20000–20200 zone, said Ameya Ranadive of Choice Broking.
Revolutionizing investment landscape: The rise of zero-cost broking
Any form of taxation, whether it's a stamp duty on real estate transactions or brokerage charges on stock trades, is usually unwelcome on part of the party paying the tax.
Microcaps present an opportunity amid rally: ICICI Securities
The brokerage recommended a handful of stocks in the microcap universe such as Wonderla Holidays, Somany Ceramics, Greenpanel, Sansera Engineering, Fusion Micro Finance, Repco Home Finance, Nazara Tech, Tatva Chintan, Astra Microwave, Kewal Kiran and Gokaldas Exports.
HDFC Bank to remain in Rs 1600 to Rs 1900 range for next 6 to 12 months: Digant Haria
All the positivity that you see for Paytm has come on two accounts; one is that they have really cut down their costs in the payment business. Payment business was the backbone of Paytm and a loss making part of their overall business. So they have controlled the losses there. Number two, they have done a good job in terms of loans.
Shoonya pays compensation totalling Rs 3 crore to traders after tech glitch
Shoonya, the zero broking platform, has compensated customers with Rs 3 crore ($402,000) following a technical glitch which occurred on April 13th. The error, which affected traders between 9.15am and 9.30am, left hundreds out of pocket. The glitch impacted a specific set of customers, with only first trades in that window being affected by incorrect trade values. In all, 77.5% of disputes were eligible for compensation and 77% of those eligible have been resolved, Shoonya co-founders Sarvjeet Virk and Tajinder Virk said.
Hot Stocks: Brokerages on Bajaj Auto, Nestle India, HDFC AMC and Apollo Hospitals
JPMorgan has maintained an overweight rating on Bajaj Auto with a target price of Rs 5,150. Similarly, Motilal Oswal has maintained a buy rating on Apollo Hospitals with a target price of Rs 5,580, while Kotak Institutional Equities has an add rating on Nestle India and HDFC AMC with target prices of Rs 22,250 and Rs 1,860, respectively. The brokerage firms have based their ratings on the March quarter results of the companies, with JPMorgan citing EV volume momentum as a re-rating trigger for Bajaj Auto.
ETtech Scoop: Reliance enters zero-commission fashion marketplace; mid-to-senior hirings in startups plummet
Reliance Industries’ online fashion platform Ajio will launch Ajio Street — a zero-commission fashion marketplace aimed at value products for non-metro audiences, similar to ecommerce firm Meesho.
RIL 'attractive', offers 33% upside potential: Jefferies
In a note, the firm said RIL's valuations fell below the long-term average after the recent correction. It advised clients to 'buy' the shares with a price target of ₹3,100. Shares of RIL closed at ₹2,324.60 apiece on the NSE on Monday, down 0.5% from the previous close.
China defends zero-Covid policy in the face of massive protests; Reports nearly 40,000 fresh cases
In remarks that appeared to aim at widespread doubts and dissatisfaction, it again touted China's self-claimed victory in controlling the pandemic so far and called on party cadres at all levels to resolutely overcome misunderstandings, slackness, and war weariness, the Post reported. According to the latest estimates, about 412 million people were affected by lockdown measures in China, up from 340 million the week before, according to the Japanese brokerage firm Nomura.
Hot Stocks: Brokerages on Tata Motors, Phoenix Mills, Godrej Properties and Ramco Cements post Q2 results
Goldman Sachs maintained a buy rating on Phoenix Mills with a target price of Rs 1,550. The company is showing healthy consumption trends.
Mirae’s zero-brokerage trading platform adds 1 client every 30 seconds
In April, Mirae Asset launched m.Stock, a platform for trading and investment in capital markets
Brokerage mixed on Tata Motors after Q2 update; stock crashes 5%
Jaguar Land Rover reported a 4.9% decline in retail sales at 88,121 units in the second quarter ended September 30, 2021. The company had posted retail sales of 92,710 units in the same quarter previous fiscal.
Hot Stocks: Brokerages downgrades Tata Motors, Edelweiss initiates coverage on Sapphire Foods
“We believe the company has all the right levers to grow profitably from hereon supported by its successful transition from infrastructure lending to building a diversified retail-focused loan book,” said the note.
Defence stocks rally up 19% after Indian Army proposal; brokerages see more upside
The process will be based on compressed timelines, wherein the procurement window will be open to the Indian industry for six months and the industry would be expected to deliver equipment within one year of signing the contract, it said.
Have zero tolerance for wild swings in the forex market: RBI Governor Shaktikanta Das
The Reserve Bank of India (RBI) governor Shaktikanta Das on Friday said that the Indian Rupee is holding up well as compared to several developed economies and that the central bank has zero tolerance for wild swings in the forex market.
Zero returns in equities may slow retail flows
Analysts said most retail investors project returns on asset classes like equities on the basis of the recent performances --- typically the past 12 months.
Number of new investors to increase by 25-30% for next 3 years: Arun Chaudhry, Mirae Asset
"m.Stock is creating a completely new category in the broking industry, we are creating a segment which will now be called zero cost broking. That is where our USPs also come from, pricing is now going to be looked at very differently. Beyond the flat per order pricing which most of the current players follow, we offer lifetime free investment & trading across segments at a small account opening fee of just Rs 999."
ICICI Securities launches zero brokerage plan
ICICI Securities the launch of ICICIdirect Neo is in response to the feedback the brokerage received from their trading customers.
Kotak Securities launches zero brokerage for intraday plan
Customer research initiated by Kotak Securities revealed the need for a competitive brokerage plan from a well-capitalised and reputed stock broker in the Indian capital market and the new plan bridges that gap, the firm said in a press note.
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