Page 3 - Brokers

Suffered mild stroke around six weeks ago, says Zerodha's Nithin Kamath

Zerodha Co-Founder and CEO Nithin Kamath on Monday disclosed that he suffered a "mild stroke" six weeks ago. "Around 6 weeks ago, I had a mild stroke out of the blue. Dad passing away, poor sleep, exhaustion, dehydration, and overworking out -- any of these could be possible reasons," he revealed in a post on X. While disclosing about his health, Kamath said he had noticed his face drooping and struggled with reading and writing. He expects full recovery in 3-6 months. "I've gone from having a big droop in the face and not being able to read or write to having a slight droop but being able to read and write more. From being absent-minded to more present-minded. So, 3 to 6 months for full recovery," he said. He further said, "I wondered why a person who's fit and takes care of himself could be affected. The doctor said you need to know when you need to shift the gears down a bit. Slightly broken, but still getting my treadmill count". Nithin, along with his brother Nikhil Kamath, .

Brokers should be cautious against manipulations in stock mkt: Sebi member

Sebi Whole Time Member Kamlesh Chandra Varshney on Saturday cautioned against manipulations in the capital market and urged brokers to keep an eye and prevent such instances. Clamping down on misdoings, the markets watchdog has been taking action against various entities for manipulations, including front running activities. Emphasising the importance of investor trust, Varshney said that if there is no trust of investors, "everything will fail". Manipulations are going on and Sebi cannot intervene in all of them. Some brokers are involved and the broker community should keep an eye as "bad elements can come in the system", he said. He was speaking at the 13th international convention of the Association of National Exchanges Members of India (ANMI) in the national capital. The Whole Time Member of the Securities and Exchange Board of India (Sebi) also said that entities should look at technological developments to improve efficiency as well as business.

PB Fintech subsidiary can now facilitate sale of reinsurance products

A composite insurance broker can also sell reinsurance products besides general and life insurance products

Stock brokers' body ANMI on board with proposal of market timing extension

Consensus from all associations of standards forum needed before submissions to Sebi

Market regulator Sebi considers tighter norms for proprietary trades

Markets regulator plans to make Industry Standards Forum a permanent feature

Brokers, traders differ on proposal to extend derivatives trading: Sebi

Brokers will firm up their opinion on the matter in a couple of months, after which investors will be consulted, Madhabi Puri Buch said at a brokers' forum in Mumbai

Brokers target March-end timeline for offering UPI block facility

Experts said that the facility will offer a competitive edge to brokers leading to larger adoption over time

Sebi tweaks rule on upstreaming clients' funds by brokers to clearing corps

To promote ease of doing business, capital markets regulator Sebi on Tuesday tweaked the framework requiring stock brokers or clearing members to upstream clients' funds to clearing corporations. This came after Sebi received representations from various stakeholders -- stock brokers, and brokers' associations citing certain operational difficulties in implementation of the framework. Addressing the issue, Sebi said that stock brokers (SBs) or clearing members (CMs) will upstream all the clients' clear credit balances to clearing corporations (CCs) on the End of Day (EOD) basis. Such upstreaming will be done only in the form of either cash, lien on Fixed Deposit Receipts (FDRs) created out of clients' funds, or pledge of units of Mutual Fund Overnight Schemes (MFOS) created out of clients' funds. Stock brokers are required to maintain designated client bank account to receive funds from their clients. The nomenclature of all such accounts will be changed to either of the two ...

Retail broking industry's top line set for a five-year leap: Bain & Company

Rides the wave of mass affluence, financial literacy, and digital revolution

Exchanges slap fresh restrictions on stocks of small and medium enterprises

To safeguard the interest of investors, many brokers prohibit trading or purchase of shares of companies placed under GSM

Firms dither on hiring as labour market stagnates, says NCAER survey

The 126th round of the survey covering 500 firms was conducted in September, with support from the National Stock Exchange (NSE)

Strong profit growth keeps brokerages positive on Torrent Pharma

Led by an 18% y-o-y growth in the domestic formulations segment, which accounts for over half its overall revenues, the company posted 16% growth at a consolidated level

Know your broker, pick a boarding school: Top personal finance stories

Our best stories this week are about what your stock manager should do for you and what is taught at India's elite residential schools

Result preview: India Inc's show likely to fail to dazzle in Q2FY24

Brokerages see profit growth at 19.6%, slower than Q1

Market regulator Sebi sets deposit norms for execution-only platforms

Entities already registered with the stock exchange under any of the segments will not have to pay the deposit again

Sebi asks brokers functioning in EOP to maintain minimum capital deposit

Capital markets regulator Sebi on Friday asked stock brokers functioning only in the Execution Only Platforms (EOP) segment to maintain a sum of Rs 10 lakh with the bourse as a base minimum capital deposit. The EOP is a digital or online platform which allows transactions in direct plans of mutual funds without the help of distributors. Under the rule, an entity desirous of providing execution-only services in direct plans of mutual funds can obtain registration under either of the two categories -- category 1 EOP as an agent of asset management companies registered with industry body Association of Mutual Funds in India (AMFI) or category 2 EOP as an agent of investor, registered as a stock broker. "It has been decided that the members of stock exchanges functioning only in EOP segment (Category 2 EOP) shall maintain a sum of Rs 10 lakh with the stock exchange as BMC (base minimum capital) deposit," the regulator said in a circular. However, for members having registration of more

In the battle of brokerages, traditional brokers are fighting back

Discount brokers have sustained the rise of the equity cult and gained market share. Now the old guard looks to strike back

Reduce uncertainties of home purchase with a competent, professional broker

Professional certification and experience can boost the odds of finding the right individual

In MFs' trading expense revamp, AMCs, brokerages see Rs 3.5k-cr blow

Inclusion of brokerage or trading costs in the TER will put AMCs in a catch-22 situation as the greater the churn in portfolios, the lower the profit margins will be

Brokers body seeks three-month extension from Sebi for KYC validation

The Sebi circular had given KYC Registration Agencies (KRAs) a timeline of 180 days, ending on April 30, 2023, to validate client KYCs