Anand Rathi Wealth informed the stock exchanges that its promoters have sold 250,000 equity shares representing 0.6 per cent holding of the company via open market.
Anand Rathi Wealth Ltd on Monday reported a 33 per cent year-on-year surge in consolidated net profit at Rs 77.3 crore in the December quarter. The company had posted a profit of Rs 58 crore in the year-ago period. In a statement, the company said its total revenue for the quarter under review stood at Rs 244.2 crore, a 30 per cent year-on-year (YoY) growth from Rs 187.3 crore in the same period last year. The leading wealth management firm, specialising in serving high and ultra-high-net-worth individuals, said its board of directors decided to allot bonus shares in the ratio of 1:1, which is one bonus equity share for every one equity share held presently. This is subject to shareholders' approval. During the nine-month (April-December) period of FY25, the company's total revenue was at Rs 739 crore, registering a growth of 33 per cent year-on-year, while profit after tax increased 34 per cent to Rs 227 crore. "India's economy continues to grow steadily, driven by rising income
Stocks to buy today: Jigar S Patel of Anand Rathi suggests initiating long positions in HDFC Bank share price in the 1,850-1,875 range, with an upside target of 2,050
The uptick in Anand Rathi share price came after the company reported a strong set of September quarter (Q2FY25) results.
Capital markets regulator Sebi on Monday imposed a fine of Rs 10 lakh on brokerage firm Anand Rathi Share and Stock Broker for flouting stock brokers' rules and other norms. The order came after the Securities and Exchange Board of India (Sebi) conducted a comprehensive inspection of Anand Rathi Share and Stock Broker Ltd (noticee), a Sebi-registered stock broker of BSE, NSE, MCX and NCDEX, for the period from April 2022 to October 2023. Based on the findings of the inspection, the regulator found certain alleged non-compliances of Stock Brokers regulations and circulars issued by Sebi, NSE and BSE. In its order, the regulator observed that in 55 instances, there was a short collection of margin/ MTM amounting to Rs 33.16 lakh. However, Anand Rathi submitted that there was no margin shortfall, and they are adequately collecting margins from the clients and adhering to the regulatory guidelines. Further, no supporting documents are submitted by the brokerage firm, therefore, the ..
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