Page 5 - Stock Broking

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

Sebi imposes Rs 75 lakh fine on ICCL, NCL in Karvy Stock Broking case

Capital markets regulator Sebi on Wednesday levied a fine totalling Rs 75 lakh on Indian Clearing Corp Ltd (ICCL) and NSE Clearing Corp Ltd (NCL) for violating norms in the matter of Karvy Stock Broking Ltd (KSBL). In two separate orders, the regulator slapped a fine of Rs 50 lakh on ICCL and Rs 25 lakh on NSE Clearing Corporation. The order came after market watchdog initiated adjudication proceedings against ICCL and NSE Clearing Corp for alleged violation of provisions of Sebi's early warning mechanism (EWM) circular issued on December, 2018. Under the EWM circular, alerts triggered at one stock exchange / clearing corporation/ depository through early warning mechanism shall be immediately shared with other stock exchanges / depositories with respect to the stock broker / depository participant. It was observed that National Securities Depository Limited (NSDL) sent various alerts pertaining to KSBL to ICCL and NCL during February-November 2019. ICCL and NCL were required to .

Sebi penalises clearing corporations for violations in Karvy Broking case

The broking firm had misused securities from clients through unauthorised pledging which were used to raise funds from several banks

Stock brokers' body seeks industry status for registered mkt intermediaries

Ahead of the Union Budget 2023-24, stock brokers' association Anmi has urged the government to accord industry status to Sebi-registered intermediaries and complete abolition of the Securities Transaction Tax (STT) and Commodities Transaction Tax (CTT). In addition, Anmi (Association of National Exchanges Members of India) has sought the exemption of short-term capital gains of up to Rs 1 lakh and raising the threshold for tax on dividends. Presenting a recommendation for the upcoming Budget to Central Board of Direct Taxes (CBDT) chairman Nitin Gupta, Anmi, a grouping of 900 stock brokers, has sought industry status for Sebi-registered market intermediaries. The move will remove unwarranted restrictions, cost of funding and capital requirements for market intermediaries and will help create financial services companies of global scale. The grouping has suggested dispensing with the treatment of speculative income/loss under section 45 of day trading in listed shares in which no ..

Sebi revises framework for approving changes in control of stock brokers

Sebi has put in place a revised framework for seeking its prior approval for changes in control of stock brokers, depository participants and other market intermediaries. The framework will be applicable for stock broker/clearing member, depository participant, investment adviser, research analyst or research entity, registrar to an issue and share transfer agent and KYC (Know Your Client) Registration Agencies (KRAs). In a circular on Monday, the regulator said the changes have been made to streamline the process of providing approval to the proposed change in control of the entities. Under the provisions, which will be effective from December 1, an intermediary should apply online for Sebi's prior approval and along with the application, the entity concerned has to submit various details, including the current and proposed shareholding pattern of the applicant. "The prior approval granted by Sebi shall be valid for a period of six months from the date of such approval within whic