ICICI Securities impacted by weak market sentiment, competition

Valuation of 16x its FY20 earnings a key factor in favour of stock

The ICICI Securities stock lost 5.2 per cent in trade on Tuesday, on the back of poor December quarter results. 

The company, which was reportedly unseated by low-cost broker Zerodha as the largest online trading platform in terms of customers, saw revenues fall 18 per cent year-on-year (YoY) to Rs 396 crore. The bottom line, too, was down 34 per cent at Rs 101 crore. 

However, Managing Director Shilpa Kumar isn’t too worried. She said there is not much difference between ICICI Sec and Zerodha regarding number of customers. In fact, ICICI Securities is still the sector leader in broking revenues, she