Page 3 - Stock Broking

Angel One soars 9% post Q2 results, Motilal Oswal Financial hits new high

Angel One reported a healthy 44 per cent year-on-year jump in its consolidated profit after tax at Rs 423.4 crore, in the September 2024 quarter.

Discount brokers to be impacted most by new F&O regulations: CRISIL

Discount brokerages, such as Zerodha and Groww, will be impacted the most by the recent regulatory moves to curb investors' derivatives play, domestic rating agency Crisil said on Tuesday. The agency's director Subha Sri Narayanan said up to 80 per cent of a discount broker's revenue comes from derivative trades, while for the full-service brokerages, the same is under a third of the revenues. "With a relatively low proportion of other revenue streams currently and the more stringent eligibility criteria for retail customers now, discount brokers, who cater predominantly to the retail segment, could see the largest impact, with new customer acquisition also slowing," Narayanan said. Its associate director Aesha Maru said competitive dynamics will constrain the discount brokers' ability to hike brokerage charges, which can otherwise be a mitigant in the face of troubles. The agency said capital markets regulator Sebi's revised Equity Index Derivatives Framework announced on October

Stock brokers to offer UPI-based fund blocking or 3-in-1 account from Feb 1

Starting February 1, qualified stock brokers will have to either offer the facility of trading in the secondary market using the UPI-based block mechanism to their clients, similar to the ASBA facility, or a three-in-one trading account facility, a move that will empower investors. Qualified Stock Brokers (QSBs) must offer one of these two options, in addition to the current mode of trading. A three-in-one trading account combines a savings account, a demat account, and a trading account into a single integrated solution. In this case, the clients would have their funds in their bank account, earning interest on the cash balances. "This initiative will empower and benefit investors with enhanced security, improved transparency, interest earnings and ease of making payments at a time when UPI payments are witnessing significant growth," Rahul Jain, CFO, NTT DATA Payment Services India, said. Additionally, the move will improve fund management and further enhance investors' convenien

Angel One share up 7% as co revises brokerage charges; check new rates here

The rise in Angel One share price came after the company announced that it will revise brokerage charges with effect from November 1, 2024

Zerodha profit jumps 61.5% in FY24; CEO warns of regulatory challenges

However, anticipates 30-50% drop in revenue next fiscal due to regulatory headwinds

Sebi cancels registration of 39 stock brokers: What investors must know

The brokers and participants affected were found not to be meeting the required registration conditions

End of an era: Zero-brokerage model on last legs with new fee rules

Discount brokers may raise charges

NSE sells digital examination business to CL Educate for Rs 230 crore

The move is part of the country's top bourse's plan to divest its non-core businesses

Sebi cancels 68 market intermediaries' registrations due to non-compliance

Sebi has revoked the registrations of 68 market intermediaries, including 39 stock brokers, 7 commodity brokers, and 22 depository participants, for failing to meet required compliance standards

Sebi proposes mandatory UPI block secondary market for larger brokers

Under the block mechanism, the amount is not deducted from the bank account unless the transaction takes place

CDSL pays Rs 1.3 cr to settle allegations of violation of Sebi directives

Stock broker Groww on Tuesday announced safeguards and measures to protect F&O traders from potential losses, making it one of the firsts to implement curbs at broker level

Broking shares rally; Angel, IIFL, ICICI Securities, MOFSL surge up to 18%

The outlook for Indian capital market related businesses continues to remain positive over the medium to long term.

More regulation needed to curb retail speculation in F&O: Amisha Vora

Sebi's proposed changes will significantly impact discount brokers, whose business relies heavily on retail F&O trades, Vora said in this interview

'Happened in 2023': Angel One responds to report of data leak of 8 mn users

The hacker claims to have accessed sensitive data, including profit and loss statements of affected customers of the Mumbai-based stock broking company

'Discount broking space getting overcrowded; Sensex can hit 100,000'

Globally, growing number of parliamentarians are worried about legitimised gambling via stock exchanges which has social and financial implications, said CJ George, founder & MD, Geojit Financial

Broking stocks slide on Sebi pivot; exchanges, depositories feel the heat

The worst impact is seen on discount brokerages that currently pocket a neat spread between what they charge their end-clients and what they pay the exchanges as charges

Zerodha expects end of zero brokerage business model after new fee rules

The new fee structure, which kicks in from October, has a significant impact on brokers, traders and investors, Nithin Kamath, CEO and co-founder of Zerodha, said on social media platform X

Broking stocks fall up to 11% after Sebi directs MIIs to levy uniform fees

Broking company stocks including Angel One, IIFL Securities, 5Paisa Capital, SMC Global, Motilal Oswal Financial Services and Geojit Financial Services fell in the range of 2-11 per cent

Zerodha faces another tech snag; users complain for losing money in trades

Zerodha's broking platform experienced a complete freeze for a short period on June 21 causing significant issues for traders

Groww's active client base tops 10 mn; becomes 1st broker co to attain feat

Zerodha Broking, which is the country's most profitable brokerage, has UCCs of 7.51 million, cornering an 18 per cent market share