Broking Firms

The number of individuals with more than $30 million of assets is expected to grow by 50% between 2023 and 2028, according to a Knight Frank wealth report

The brokerage firm reported a near 15% dip in Gross Client Acquisition in November; the dip, however, can be attributed to lesser number of trading days last month.

Outlook for equities remains positive over the medium to long term considering the structurally robust domestic growth outlook, healthy corporate profitability and supportive government policies.

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.

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

Markets regulator Sebi on Friday cancelled the registration of LFS Broking and barred its MD Saiyad Jiyajur Rahaman from being employed or associated with any registered intermediary for five years for violating market norms. The regulator also cancelled the registrations of LFS Broking as a stockbroker, portfolio manager, depository participant, and research analyst. "I note that since the Noticee No. 2 (Saiyad Jiyajur Rahaman) has not acted with integrity, and honesty and has not displayed ethical behaviour and fairness, he ceases to be a fit and proper person in terms of the Intermediaries Regulations," Sebi's Whole time member Kamlesh C Varshney said in the 56-page order. Further, Sebi observed the conduct of LFS Broking, where it allowed to use the registration certificates in collusion with Rahman, to deceive investors for the illegal mobilisation of funds. The markets watchdog holds that the brokerage firm is also not satisfying the criteria prescribed under the Intermediari

Brokerage house ICICI Securities on Thursday reported a two-fold jump in profit after tax to Rs 537 crore for three months ended March 2024. In comparison, the company posted a profit after tax (PAT) of Rs 263 crore in the year-ago period, ICICI Securities said in a regulatory filing. The company's total revenue soared 74 per cent to Rs 1,544 crore in the fourth quarter, from Rs 885 crore in the January-March quarter of financial year 2022-23. The broking firm's total client assets reached about 7 lakh crore as of March 2024, marking a 19 per cent year-on-year (YoY) increase. Further, ICICI Securities has declared a second interim dividend of Rs 17 per share, taking the full-year dividend to Rs 29 apiece. For the full financial year FY24, the company posted a PAT of Rs 1,697 crore, marking a 52 per cent YoY increase, and revenue stood at Rs 5,051 crore for FY24, up 47 per cent from the preceding fiscal. Besides, the broking firm announced that its board of directors in its meetin

Influx of new investors shows that more households are taking to direct investing

SAT has upheld the order by the committee

Also, a sharp U-turn in market secondary sentiment also helped draw new investors, said broking industry players

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

Modi says that the account aggregator framework will be the next game changer for the industry

Groww set to become number one in active investors, but Zerodha remains most profitable

BNP's acquisition was completed in 2016 after receiving approvals from all regulatory authorities

As trading volumes are likely to be firm, broking industry revenues could be healthy in fiscal 2023-24 (FY24), even as the yields may not have much further to fall

Angel One said NSE's order does not affect the existing business or the activities of the APs affiliated with the company.

Analysts anticipate the broking revenue to remain stable in FY24, while expect strong growth in the distribution business and in interest income, led by strong growth in the MTF book

ICRA believes that the outlook for the brokerage industry is stable, though its revenue trajectory and profitability are expected to moderate from the FY22 levels

The profitability of the domestic broking industry fell to 34 per cent in Q1FY23 from 38 per cent in the similar period last year due to geopolitical concerns and the adverse macroeconomic outlook

Shares of leading listed brokerages have declined between 26% and 46% from 2022 highs