Page 7 - Stock Broking

New margin norms weigh on volumes, brokers estimate 10-15% impact

Industry players say biggest impact could be on derivative futures volume followed by cash market volumes

Stock broking giant Zerodha's FY21 profit more than doubles to Rs 1,000 cr

Promoter Nithin Kamath says firm unlikely to raise external resources

Zerodha's Kamath brothers, Seema Patil to get up to Rs 100 cr salary each

Company plans ESOP buyback at $2-bn valuation

Angel Broking, Geojit: More upside likely for brokerage-related stocks

Increased volumes-based buying shows market participants' keen interest in brokerage firms

Sebi slaps Rs 90-lakh fine on Anugrah for misusing clients' funds

Mumbai-based brokerage misused client funds worth Rs 119 crore, says regulator's investigation

Sebi imposes Rs 90L fine on Anugrah Stock and Broking for violating norms

Sebi on Tuesday slapped a fine of Rs 90 lakh on Anugrah Stock and Broking Pvt Ltd for violations of market norms. The order follows a joint investigation carried out by Sebi, BSE, NSE and Central Depository Services India between April 2017 and September 2018. "It is established that the noticee failed to segregate client's funds inter-se and/ or between clients' funds and its own funds, misutilised the funds of clients, pledged the securities of clients other than the respective client obligation, funding the clients by allowing exposure beyond the prescribed time frame as specified in the regulations, failed to settle client accounts...," Sebi said. The noticee is Anugrah Stock and Broking. Sebi found that the broker had misused credit clients' funds to meet the obligations of debit balance clients and the amount of misutilisation ranged between Rs 8.05 crore and Rs 118.77 crore for the selected sample days. In addition, the broker misutilised clients' funds and securities by ..

Brokers, wealth managers hate us and we are okay with that: Nikhil Kamath

Last year, he and his brother Nithin jettisoned into a club of the country's 100 wealthiest with their net worth pegged at around Rs 24,000 crore

YouTube stars and broking apps lure pandemic-hit day traders in India

Around 10 million new investing accounts, largely by retail investors, were opened in India last year, calculations from the country's two main depositories of accounts show

Broking income soars in Q3 amid new client additions, shows data

ICICI Securities saw brokerage income jump 61 per cent, while Motilal Oswal saw strong traction in cash market share and the highest ever quarterly client addition

Learnings from Sensex journey: Line between success, failure is discipline

Dalal Street is where dreams are made and destroyed

NSE, BSE declare Anugrah Stock as defaulter, expel from memberships

Leading stock exchanges BSE and NSE have declared Anugrah Stock & Broking as a defaulter and have expelled the brokerage house from respective memberships. The move comes days after a similar action was taken by the stock exchanges against Karvy Stock Broking. "The exchange has declared Anugrah Stock & Broking Pvt Ltd, a corporate trading member, of the exchange as defaulter... also expelled the said trading member... with effect from November 27, 2020," BSE said in a circular on Friday. Investors having any outstanding claims against the brokerage house have been asked to file their claims with the exchange within 90 days (by February 25, 2021), it added. In a separate circular on Thursday, NSE said the trading member has been "expelled from the membership of the exchange... and has been declared as defaulter... with effect from November 26, 2020, after close of market hours". On November 13, markets regulator Sebi suspended Anugrah Stock & Broking Pvt Ltd (ASBPL) till ...

Consolidation among brokers set to gain ground with new compliance norms

The top 10 brokers by active clients from a group of 256 brokers account for nearly 71 per cent of the client base, NSE data shows

Karvy declared a defaulter by NSE for misuse of clients' securities

Clients can now be paid from investor protection fund corpus

Tiger-backed RKSV shoots past rivals, becomes second largest Indian broker

Tiger Global Management-backed RKSV Securities India became the second-biggest broker in the country after nearly doubling the number of its customers to 1.2 million in the 6 months through September

Paytm Money enables stockbroking for all; targets 1 mn investors in FY21

The company has already registered 220,000 investors, of which 65 per cent are in the age group of 18 to 30 years

Coronavirus pandemic accelerates consolidation among stock brokers

Technology helping newer, more agile playe sto add customers faster

How to sniff and dodge financial scams and keep your wealth intact

Here are some tools that will help you detect a scam from a mile away and avoid touching one even with a 10-foot barge pole

MOFSL's broking business sees net losses due to negative crude settlement

Company has made provision of Rs 88.96 crore on client receivables

How to fix the broken stockbroking model

The problem is with the broking model and what brokers are allowed to do

Discount brokerages likely to benefit after intoduction of new norms

Earlier, small broking houses were able to attract clients by allowing them to take large leveraged intra-day trades without taking any upfront commission from them