Page 11 - Brokerages

Edelweiss Financial Services to sell its 70% stake in insurance broking JV

Edelweiss Financial Services on Friday said it will exit the insurance broking business by selling its 70 per cent stake in Edelweiss Gallagher Insurance Brokers Ltd for Rs 307.60 crore. "The company has entered into an agreement... to divest its entire shareholding (currently 70 per cent) in Edelweiss Gallagher Insurance Brokers Ltd, a subsidiary, engaged in the business of insurance broking to Arthur J Gallagher & Co...," Edelweiss Financial Services said in a regulatory filing. Gallagher, who previously held 30 per cent in the business, will now be acquiring all the remaining shares, taking its stake to 100 per cent, the filing added. The company said, as per the agreement 37,00,000 equity shares of Rs 10 each representing 70 per cent of the paid up share capital of Edelweiss Gallagher Insurance Brokers held by the company to be sold for a consideration of Rs 307.60 crore, in one or more tranches, in the manner as set out in the agreement. In addition to the sale consideration,

On the radar: Analysts expand coverage amid sharp stock market rally

200 firms of the BSE 500 universe are tracked by more brokerages than a year ago

Contract mfg, exports add to revenue visibility for Sumitomo Chemical

Revenue growth, higher share of specialty products to improve margins going ahead

'Don't want to fly in private jet, own a yacht': Zerodha CEO Nithin Kamath

Nithin and his brother expected to earn home a salary of up to Rs 100 crore each for running India's largest stock brokerage firm. Nithin's wife to get same salary package as well.

Zerodha's Kamath brothers, Seema Patil to get up to Rs 100 cr salary each

Company plans ESOP buyback at $2-bn valuation

Lagging behind: Brokerage firm CLSA flags 'odd' Indian financials trend

The Nifty Financial Services index is up 8.1 per cent on a year-to-date basis. In comparison, the Nifty50 index has gained 9.7 per cent

Angel Broking, Geojit: More upside likely for brokerage-related stocks

Increased volumes-based buying shows market participants' keen interest in brokerage firms

Near-term margin concerns and valuations weigh on Dr Lal Pathlabs

Some brokerages prefer Metropolis given higher realisation, revenue growth trajectory

Revenue growth of brokerages likely to moderate in next fiscal: Crisil

Broking industry revenue growth to moderate in FY22, rise in volatility and regulatory changes could weigh on volumes

Strong demat account addition is here to stay: Ravi Kumar of Upstox

In a Q&A, the Co-Founder and CEO of Upstox explains what has propelled the growth and the company's ambitious tie up with IPL

From JSW to SAIL, major steel companies' stocks show strong upside

Brokerages bullish on improving cycle and higher prices

Opaque world of trading

Archegos implosion: Regulators must ask some serious questions

Nomura faces tough questions over global plans after US client loss

Nomura and other investment banks may lose more than $6 billion after lending to Archegos Capital, a US investment firm run by former Tiger Asia manager Bill Hwang

Tiger Global-backed brokerage Upstox to sponsor Indian Premier League 2021

Tiger Global-backed online brokerage Upstox will sponsor the Indian Premier League starting April 9

Earnings estimates of India Inc see upgrade after strong Q3 results

Analysts at top brokerages raise FY21-FY23 estimates by 5-6%

Online brokerage Robinhood plans confidential IPO filing in March: Report

Online brokerage Robinhood, at the centre of this year's retail trading frenzy, is planning to file confidentially for an initial public offering as soon as March, a report said

Brokers, wealth managers hate us and we are okay with that: Nikhil Kamath

Last year, he and his brother Nithin jettisoned into a club of the country's 100 wealthiest with their net worth pegged at around Rs 24,000 crore

SC directs SAT to hear NSEL plea against 'not fit and proper' brokers

The National Spot Exchange Ltd (NSEL) said the Supreme Court has directed the Securities Appellate Tribunal (SAT) to allow the bourse to present its appeal in the "not fit and proper" case against brokers. The apex court, thus, rejected the opposition put up by senior advocate and former finance minister P Chidambaram on behalf of brokers, the NSEL said in a statement. The tribunal had refused to admit the plea on technical ground of delay, forcing the NSEL to move the Supreme Court, it said in the statement. Pursuant to an investigation, markets regulator Sebi had declared the brokers "not fit and proper" to function in the commodity segment, on finding the brokers (Motilal Oswal Commodities, India Infoline Commodities, Phillip Commodities, Anand Rathi Commodities and Geofin Comtrade) guilty of malpractices. The regulator's order came following the report by the EOW-Mumbai and complaint filed by the NSEL. "These brokerages were accused of offering assured returns, KYC (Know Your

After record FY21, brokerages' revenue growth to moderate in FY22: ICRA

'The ongoing investor exuberance is expected to wane gradually. The trading volumes are expected to moderate compared to the peak witnessed in the last few months,' says an ICRA official

Economic activity on verge of normalcy, GDP to grow 13.5% in FY22: Report

Economic activity is on the 'verge of normality' after getting severely hit by Covid-19, a Japanese brokerage said