Page 2 - Stock Broking

Upstox turns unicorn with funding from Tiger Global at over $3 bn valuation

The funding round is said to be led by existing investor Tiger Global and is still ongoing

Naspers-backed online wealth manager Fisdom enters stock broking

At present, Fisdom operates a successful mutual fund distribution platform. The broking foray comes amid a frenzy to open new accounts underpinned by the buoyancy in the market

NSE, BSE ask investors to deal with only registered stock brokers

NSE and BSE on Friday asked investors to deal with only registered stockbrokers amid instances of unregistered entities targeting gullible investors with false promises of exorbitant returns.

New margin rules result in unwarranted penalties on trading members: Anmi

Anmi favours a model that may predict peak margins to be complied with by trading member so that on any given day upfront compliance may be considered based on margins for T-1 day

This derivatives trader chose financial education over brokerage business

The man who hates seeing people losing money started Kredent InfoEdge, whose two platforms offer video courses on investing and a base for learners to dive into stock fundamentals and technicals

Stock brokers body urges Sebi to reduce peak margin to 50% from 75%

Stock brokers' association Anmi on Monday said it has requested markets regulator Sebi to reduce peak margin for intraday trades to a maximum of 50 per cent

Sebi gives more time to brokers, clearing members to comply with rules

Sebi on Wednesday extended deadlines for complying with certain regulatory requirements by stock brokers, clearing members and KYC registration agencies in view of the ongoing COVID-19 pandemic.

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