Geojit Financial Services

Shares of broking companies were under pressure on Monday on concerns that any significant volatility in the market's performance can directly put pressure on their overall income profile.

Fortunes of stock brokers and asset managers, analysts suggest, are directly linked with how the primary and secondary markets play out.

Geojit Financial Services Ltd on Friday reported a 53 per cent year-on-year jump in profit after tax to Rs 57.42 crore in three months ended September 2024. In comparison, the company had posted a profit after tax (PAT) of Rs 37.48 crore in the year-ago period. On a quarter-on-quarter (QoQ) basis, its PAT rose by 25 per cent, Geojit Financial Services said in a statement. Revenue increased by 50 per cent to Rs 218.55 crore in the July-September quarter of FY25 from Rs 145.51 crore a year ago. On a QoQ basis, it grew by 21 per cent.

Among individual stocks, 5Paisa declined 7.65 per cent, followed by IIFL Securities (down 4.76 per cent), Geojit Financial Services (down 3.32 per cent) and MOFSL (down 3.15 per cent).

Shares of Geojit Financial Services hit a record high of Rs 154.60, after surging 14 per cent on the BSE in Tuesday's intra-day trade amid heavy volumes.

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Geojit Financial Services share price zoomed after the company on Saturday reported a 105 per cent year on year increase in net profits to Rs 45.81

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

Market outlook July 02: Trading strategies for stock broking firms in India as the Sebi seeks parity on fees, stricter regulations to options trading.

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

Fraudsters are deceiving people with false promises of lucrative returns and bogus investment schemes in the stock market and mutual funds, as well as fake IPOs, Geojit Financial Services

Geojit Financial Services on Tuesday reported a 73 per cent rise in profit after tax to Rs 52 crore in the March quarter. The company had recorded a profit after tax of Rs 30 crore in the year-ago period. In the fourth quarter of the last financial year, the firm's consolidated revenue rose 79 per cent to Rs 209 crore. It was at Rs 117 crore a year ago, according to a release. For fiscal 2023-24, its profit after tax jumped 48 per cent to Rs 149 crore. At the end of March, the company's assets under custody and management stood at Rs 93,000 crore. The board of the company has also approved an investment of up to USD 1 million to establish an entity in Dubai International Financial Centre (DIFC) for expanding capital market business.

A retracement of up to 50 per cent of the recent fall, can lead up to 18% rally in shares of IIFL Securities, Geojit and Emkay, show technical charts.

A combined 8.98 million equity shares representing 2.8 per cent of total equity of the company changed hands on the NSE and BSE.

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Before this, they invested a net sum of ~51,204 crore in equities in August 2022, the data showed

The S&P BSE Small-cap and Midcap indices have surged around 6 per cent and 4 per cent, respectively, as against a 2 per cent gain on S&P BSE Sensex so far in FY24.

Geojit Credits, a non-banking financial company (NBFC), on Monday announced the launch of Loan Against Mutual Fund (LAMF). Under the scheme, the investors can avail loans starting from Rs 10,000 in digital mode. A LAMF allows investors to raise instant funds at attractive interest rates for their short-term liquidity requirements by keeping their mutual fund investments as collateral. "Our newest product, digital Loan Against Mutual Fund will be of great help to investors who can avail loans at competitive rates and not redeem their MF investments, which is part of their long-term wealth creation and investment plan," Bejoy Anthraper, Business Head of Geojit Credits, said. Geojit Credits is a subsidiary of Kochi-based Geojit Financial Services.

The Nifty ended the session at 16,983 points, with a fall of 257 points, or 1.5 per cent

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