ZERODHA COFOUNDER
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 flags famous actors promoting unregulated trading platforms through ads
Zerodha's co-founder Nithin Kamath expressed concerns about celebrities, including actors, endorsing advertisements for unauthorized trading platforms. He noted seeing a famous actor promoting such a platform and gave them the benefit of the doubt regarding awareness. Notably, similar issues have arisen with actors endorsing Octafx, another problematic platform.
Collective Artists Network acquires Terribly Tiny Tales
Collective Artists Network has acquired digital content creator Terribly Tiny Tales (TTT) following funding from Nikhil Kamath. The move aligns with their goal to be India's top new media company. TTT, founded by Anuj Gosalia in 2013, reaches 25 million weekly social media users. This acquisition complements Collective Artists Network's strategy to enhance storytelling and creator support. Anuj Gosalia, TTT's CEO, looks forward to leveraging Collective's resources for greater impact.
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.
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.
Nithin Kamath sees tough times for broking industry as regulator seeks to rein in options boom
The Zerodha chief's remarks follow Sebi chair Madhabi Puri Buch's announcement that the regulator is aware of the highly speculative nature of options trading. Sebi plans to take action based on the recommendations of the working committee.
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Prosus writes off Byju's stake; Swiggy, PayU India report card
Dutch investment major Prosus said its investment in Byju’s is worth zero. This and more in today’s ETtech Top 5.
Unikon AI raises $2 million in funding from Zerodha's Nikhil Kamath, others
Artificial intelligence (AI) company Unikon AI has raised $2 million in a funding round from Zerodha cofounder Nikhil Kamath, Lenskart cofounder Peyush Bansal, Shiprocket cofounder Vishesh Khurana, Noise cofounder Gaurav Khatri, among others. Unikon.AI is the latest venture by Aakash Anand, the founder of the D2C personal care startup Bellavita, which was acquired by Mumbai-based Ananta Capital.
Sachin Bansal exits Ather Energy selling remaining stake to Hero MotoCorp, Nikhil Kamath
Hero MotoCorp bought this stake at an inferred valuation of Rs 5,636 crore. This is a premium to the Rs 4,666-crore valuation at which the company had invested Rs 140 crore in Ather in December 2023.
ETFs trading at abnormal prices due to high volatility: Check this before investing in mutual fund ETF to prevent avoidable loss
Exchange traded funds NAV: The stock market experienced extreme volatility on June 4 and 5 of 2024. As a result of this volatility the market NAV price of many ETFs showed abnormal premiums or discounts to their indicative i-NAV price. Stock broker Zerodha cautions investors to not buy ETFs if its price is trading at a high premium to its i-NAV value.
Nazara subsidiary Absolute Sports buys entertainment news site SoapCentral for $1.4 million
SoapCentral.com provides news and other content related to TV shows and mostly focuses on the US audience.
Lenskart $200M secondary deal; Baron bumps up Swiggy’s valuation
Singapore's Temasek and US-based Fidelity have invested $200 million in Lenskart through a secondary share sale. This and more in today’s ETtech Top 5.
Noida businessman duped of Rs 9 crore in WhatsApp trading scam: Report
A businessman named Rajat Bothra from Noida was duped of over Rs 9 crore by cyber thugs after joining a stock market trading group. Social media, especially WhatsApp, has become a breeding ground for scams.
Zerodha faces another technical glitch, users face Kite login issues
India's second-largest broking platform Zerodha website displayed the error message ‘503 Service Unavailable. No server is available to handle the request.’ Traders on X (formerly Twitter) reported that the trading platform was not functioning even before trading commenced on Monday.
Stripe pulls back from India; Oxyzo FY24 results
Citing stricter regulatory requirements, US payments major Stripe has shifted to an ‘invite only’ mode in India. This and more in today’s ETtech Top 5.
Zerodha’s Nikhil Kamath picks up 7% stake in Infra.Market subsidiary for Rs 166 crore
In December 2023, ET had reported that Infra.Market had sold a 10% stake in RDC Concrete for $20 million to public market investors led by Ashish Rameshchandra Kacholia. The round saw participation from investors such as Capri Global Family Office, Verity Knowledge Solutions CEO Sumeet Kanwar and Abhijeet Pai-led Wear Steels.
Why Nikhil Kamath decided against children? Zerodha co-founder talks about adoption and questions the need for legacy
Zerodha co-founder Nikhil Kamath recently discussed his views on parenthood and legacy on his podcast, WTF. Kamath revealed that he once considered adopting a child and conducted thorough research, only to find that current regulations make it nearly impossible for a single Indian man to adopt. He shared that his desire for adoption was driven by a sense of it being "cool" at the time.
Zerodha cofounder Nikhil Kamath invests in Collective Artists Network
This investment, a secondary transaction, facilitates a return of over 5X, via a strategic exit for Naveen Tiwari-founded InMobi’s Glance, which previously invested in Collective in 2021, as per a statement.
Nikhil Kamath, Manyavar family office may join A91 in Rare Rabbit’s Rs 500 crore funding
Bootstrapped till now, Rare Rabbit clocked revenue of over Rs 600 crore in fiscal 2024, with an operating profit of more than Rs 100 crore, as per sources in the know. Along with Rare Rabbit, the brand's parent company Radhamani Textiles also owns women's premium fashion brand Rareism and everyday wear brand Articale.
Why Bengaluru is Nikhil Kamath's favourite city? Zerodha co-founder says Mumbai has 'good-looking people but...'
Billionaire entrepreneur Nikhil Kamath recently praised Bengaluru, India's startup capital, in a YouTube podcast. Despite acknowledging challenges like traffic, he highlighted Bengaluru's standout feature as its people, emphasizing their warmth and love for the city. Kamath also praised Bengaluru's talent pool, calling it unmatched globally for startups due to its access to skilled individuals at a reasonable cost.
Zerodha's Nikhil Kamath advice for parents: Gaming isn't a hobby anymore, its a serious career option
Zerodha co-founder Nikhil Kamath advocates for gaming as a serious career path, emphasizing India's market dominance. He discusses industry trends, including the rise of mobile gaming and increasing female gamers, highlighting the growth in pay-to-play models.
Zerodha's Nikhil Kamath on parenthood: 'Don't want to ruin 20 years of my life babysitting'
Zerodha co-founder Nikhil Kamath recently shared his unconventional take on parenthood and legacy on his podcast, WTF. Kamath challenges traditional views, questioning the necessity of having children to carry on a legacy. He emphasizes living well and social responsibility over seeking posthumous recognition. Kamath's commitment to philanthropy, exemplified by joining The Giving Pledge, reflects his values, inspiring others to reconsider societal norms.
Zerodha co-founder Nikhil Kamath is bullish on the prospects of Indian wedding industry, says it has a bright future despite being ‘uncool’
The entrepreneur expressed strong optimism regarding the future of the wedding planning industry. Posting on X (formerly Twitter), the billionaire highlighted India's status as a highly sought-after wedding destination. Additionally, he shared statistics indicating that India boasted the world's second-largest wedding market after the United States, with a remarkable 13 percent growth from 2022 to 2023.
Making losses in options trading? Zerodha co-founder Nithin Kamath shares a pro tip
A key advantage of these strategies is the limitation of losses. Regardless of market fluctuations or extreme events, such as circuit breakers or geopolitical turmoil, losses are capped at a predetermined amount.
Zerodha co-founder Nikhil Kamath warns against fake stock tips group on WhatsApp
Zerodha co-founder Nikhil Kamath cautions WhatsApp users about a scam promoting a fake WhatsApp group for stock tips under his name. He urges users to report such fraudulent advertisements. The government has also issued a warning against fraudulent stock market ads on social media, advising people to be cautious and report suspicious activities.
Zerodha Co-founder Nikhil Kamath alerts investors about fake post claiming stocks 'handpicked' by him
Zerodha Co-Founder Nikhil Kamath has alerted investors about not being part of any WhatsApp group that gives stock recommendations.
D2C apparel firm Bummer raises Rs 9.25 crore led by Nikhil Kamath-backed Gruhas Collective
The funding – entirely primary – also saw participation from D2C-focused venture firm Fluid Ventures, an existing investor. Bummer had earlier raised Rs 5.5 crore in seed funding from Singapore-based venture firm Beenext Asia, which has invested in firms like NoBroker and BharatPe.
Zerodha's Nithin Kamath says he suffered a 'mild stroke' six weeks ago
Zerodha cofounder Nithin Kamath revealed his experience with a mild stroke and the challenges he faced. He expects a full recovery in 3 to 6 months. Ashneer Grover, cofounder of BharatPe, empathized with Kamath's situation after his dad's demise.
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