Page 5 - Stock Broking

FMCGs extend fall on RBI's warning of higher inflation; more pain on cards?

Barring Varun Beverages that reached a new all-time high and Colgate Palmolive (India), other FMCG stocks trade fragile.

REC, Ashok Leyland: 7 out of 8 stocks, picked by MSCI, may rally up to 25%

Barring Cummins India, which did perform in the current year but the present structure shows sluggishness; all other stocks included in MSCI index are poised for the next bull-run.

ZEEL, NDTV: Will Zee Entertainment turn multi-bagger post NCLT clearance?

Zee Entertainment hits fresh 52-week high post approval by NCLT

Market regulator Sebi cancels registration of MMTC as broker in NSEL case

Capital markets regulator Sebi has cancelled the registration of MMTC Ltd as a stock broker for its involvement in illegal "paired contracts" in a case pertaining to now defunct National Spot Exchange Ltd (NSEL). While cancelling the licence, Sebi directed MMTC to allow its existing clients to withdraw or transfer their securities or funds held by it within 15 days. In case a client fails to do so, the broker will transfer the funds and securities of such clients to another registered broker in the next 15 days under advice to the said clients, Sebi said in its order on Wednesday. Going by the order, MMTC is a commodity derivatives broker registered with Sebi, from December 2015 and is currently a member of the Multi Commodity Exchange of India Ltd (MCX). The broker made an application in September 2019 for surrendering its membership of MCX. However, the surrender application of MMTC is still pending with MCX. In its order, Sebi said MMTC traded in "paired contracts", which did n

How to trade Bajaj Finance and Bajaj Finserv post Q1FY24 earnings?

Trend in Bajaj twins remains sluggish and may slide in bear's grip if key levels are breached

ACC, Ambuja: 5 cement stocks show rising trend on charts in a choppy market

The broader trend in the cement sector remains optimistic, price action riding along the overall bullish sentiment

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.

TCS may hit Rs 4,000-mark on Q1 boost; HCL Tech could dip to Rs 1,000 level

Once the range of Rs 3,380 to Rs 3,350 is conquered, TCS shares are set to hit a new historic peak. HCL Tech, meanwhile, may slip under Rs 1,000 if it fails to hold the 200-DMA

Bears grip Delta Corp on highest ever volume, Nazara must hold 200-DMA

Delta Corp needs to cross the 200-DMA to regain the momentum, while Nazara Technologies must hold the 200-DMA as a support.

PFC, Sanghvi Movers, Bajaj twins: Trading strategies for buzzing stocks

These 5 buzzing stocks may rise up to 15% in the coming sessions

Sebi bans IIFL Securities from signing new broking clients for 2 years

The company will appeal SEBI's order, said an official who declined to be named as the person is not authorised to speak to the media

Stock broker Upstox records Rs 1,000 cr operating revenue in FY2022-23

Investment platform Upstox (RKSV Securities India Pvt Ltd) has recorded Rs 1,000 crore operating revenue during the last financial year, a top official said here on Monday. The company which has been recording consistent growth over the last three years would also be launching fixed deposits and was also engaging with some banks and financial institutions in this connection, co-founder Shrini Viswanath said. Upstox's operating revenue (broking revenue) grew 44 per cent in FY2022-23 and breached the Rs 1,000-crore mark, he told reporters. According to Viswanath, the company achieved break-even for FY23 and generated positive net cash of around Rs 130 crore in the fourth quarter of FY23. "Upstox concluded the fiscal with cash reserves of close to Rs 1,000 crore," he said. On the outlook for the current financial year, he said during the last three years, the company witnessed its customer base grow to 1.1 crore as of date from 10 lakh in June 2020. All the efforts are being focussed

NSE lays framework for action against brokers for misuse of clients funds

The National Stock Exchange (NSE) on Wednesday came out with a framework for taking immediate actions against trading members in case of misuse of client funds by them. In the recent past, the exchange has observed instances of misuse of client funds during its inspections as well as in the alerts generated under offsite supervision. In order to initiate immediate actions in critical cases where misuse of client funds is observed, the exchange said that proprietary deposits of the trading member available with the clearing house, NSE Clearing Ltd (NCL), will be blocked to the extent of the misuse amount or Rs 10 crore, whichever is lower, according to a circular. The action will be taken for violating "principles of enhanced supervision" for stock brokers in case of misuse of clients funds. In case misuse is observed with regards to "principles of enhanced supervision" for stock brokers, NSE said the amount equivalent to the aggregate amount of all principles, will be ...

Sebi to tell brokers, mutual funds to limit use of financial influencers

Sebi will ask brokers, traders registered with it and mutual funds to stop associating with financial influencers who are seen to be giving misleading advise and inducing investors, the report said

Sebi's new rule: Stock brokers can't use clients' funds for bank guarantees

Existing bank guarantees that were created using clients' funds will need to be wound down by September 30, Sebi said

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

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

Sebi bars brokers from creating bank guarantees with client funds

Regulator says all bank guarantees will have to be terminated by Sept 30

Street Signs: Nifty above 200-DMA, new-age start-up stocks, and more

NSE issued a list of 61 words brokers are barred from using misleading titles to offer client services they aren't permitted to

3 more weeks to online bond platforms to register as stock brokers: Sebi

Capital markets regulator Sebi on Tuesday extended the timeline by three weeks for entities, operating as online bond platform providers, to make an application for registration as stock brokers. The extension has been given keeping in view the technical difficulties faced by these entities, the Securities and Exchange Board of India (Sebi) said in a circular. "It has been decided to grant an additional time period of three weeks commencing from February 9, 2023 (the end of three months from November 9, 2022) for making an application to obtain a certificate of registration as a stock broker under the Sebi (stock brokers) regulations," the markets watchdog said. Accordingly, the application for registration by online bond platform providers (OBPPs) as stock brokers would be made by March 1, 2023. Under the regulatory framework issued in November, Online Bond Platform Providers (OBPPs) should be companies incorporated in India and they should register themselves as stock brokers in

Sebi to put onus of detecting price rigging, insider trading on brokers

Asks brokers to maintain whistleblower policy, furnish action-taken report upon spotting fraud; top management to be held accountable for non-compliance