Page 7 - Brokerages

Choice International reports 3-fold rise in profit after tax to Rs 21.3 cr

Brokerage house Choice International on Monday reported a nearly three-fold growth in profit after tax to Rs 21.3 crore in the June quarter. In comparison, the broking company had a PAT of Rs 7.7 crore in the year-ago period, the Mumbai-based firm said in a regulatory filing. Its total revenue jumped 77 per cent to Rs 139.3 crore in the first quarter of the current fiscal from Rs 78.7 crore in 2022-23. Choice International said 59 per cent of its revenues came from the stock broking business, 28 per cent from the advisory segment and the remaining 13 per cent from its non-banking financial company segment. The company added 41,000 demat accounts in the June quarter, taking the total number to 7.21 lakh. In late afternoon trade on the BSE, shares of Choice International gained 2.21 per cent to Rs 354.1 apiece.

India Inc may see over 22% profit jump in Q1; revenue growth may disappoint

Automakers, banks likely top performers

7 IPOs this week but don't make these 10 mistakes in pursuit of gains

The most common mistake than investors make that can be a trap and hinder your financial success is following the herd mentality

Angel One, Emkay Global: Brokerage stocks may rally up to 15%, show charts

Trend of brokerage firms appear attractive on technical charts, progressive uptrend to continue.

ICICI Securities surges 15%; board to mull share delisting on June 29

The company plans to delist its equity shares pursuant to a Scheme of Arrangement with ICICI Bank.

Analysts see over 18% upside in Tata Motors; here's why

Brokerages have retained 'Buy' rating on Tata Motors post the recent JLR investor day meet.

Angel One client base jumps 44% in May, retail equity market share rises 4%

Angel One saw a 22.4 per cent rise in average daily orders to 4.12 million from 3.36 million last May

Brokerage industry undergoing big transformation: IIFL Securities chairman

CY23 will be a very topsy-turvy year for equity markets, but it will also be excellent for long-term investors looking for sharp market dips to build strong positions: IIFL Securities chairman

Sebi cancels licence of brokerage house CNB Commodities in NSEL case

Markets regulator Sebi has cancelled the registration of brokerage house CNB Commodities for participating in illegal 'paired contracts' launched by the now defunct National Spot Exchange Ltd (NSEL). In addition, Sebi has asked the broker to allow its existing clients to withdraw or transfer their securities or funds held in its custody within 15 days. In case of failure of any clients to withdraw or transfer their securities or funds within this period, the broker will transfer the funds and securities of such clients to another broker within a period of the next 15 days thereon under the advice of the said clients. The case relates to the participation of CNB Commodities, which was a member of the NSEL, in 'paired contracts that did not have regulatory approval. The alleged transactions were carried out by the broker on the NSEL platform in 2012-13 and 2013-14. In its order, Sebi said there were enough red flags for a reasonable person to come to conclude that what was being off

Karvy Stock Broking, its promoter barred for 7 years from markets

Group firms directed to return Rs 1,443 cr siphoned off from clients

Axis Bank shares slide 2.4% post Q4 results; what should investors do?

Global brokerage Jefferies has initiated coverage on Axis Bank stock with a target price of Rs 1,150

'Brokerage rates in India are among the lowest, need re-evaluation'

Ravi Kumar says float income generated by the industry is indeed facing challenges and brokerage rates could edge higher

Results preview: India Inc likely to report highly profitable Q4

Nifty50 firms may show 15.6% earnings growth, say brokerages; revenue growth to disappoint

Near-term demand worries likely to weigh on Page Industries stock

Brokerages have mixed view after correction in stock price

Over 18 mn Indian citizens' personal data exposed in data broker breaches

India is the second-most affected country when it comes to data broker breaches, and more than 1.8 crore (18.7 million) personal records of Indian citizens were compromised

Will Budget 2023-24 be populist or pragmatic? Brokerages weigh in

Budget to focus on rural India, capex, and manufacturing push, as well as prioritising macro stability

Paint biz goes off-colour, likely to see a fresh coat of downside in demand

Q3 witnessed weak volumes; valuations do not factor in risks

High-frequency traders must be highly cost-conscious while choosing brokers

Platform reliability, time to meet margin calls are other key criteria for traders while selecting a broker

Paint industry could see further downsides on demand, competitive pressures

Q3 could see weak volumes; hurdle for incumbents is new entrants in the sector

Margin of safety

ASBA must be properly tested for secondary markets