Financial services firm Edelweiss Capital on Wednesday said it will acquire domestic broking house Anagram Capital for Rs 164 crore (Rs 1.64 billion). The company along with its subsidiary Edelweiss Investments & Finance has entered into an agreement with Anagram Capital to acquire it for Rs 164 crore, Edelweiss Capital said in a statement.
Valuations of broking companies have halved since January 2008. Patient investors can start accumulating selective stocks with a long-term perspective.
At least four top brokerages -- Religare Enterprise, Edelweiss Capital, Emkay Shares and Stocks and Modern Securities -- have delayed their fourth quarter results.
Airports across the country witnessed chaotic scenes on Friday after dozens of flights were either delayed or cancelled after a widespread global computer outage that also hit operations like cash withdrawal at some banks, and impacted functioning of some brokerages. Globally, the Microsoft cloud outage led to US airlines cancelling flights, but the tech giant later reportedly said its cloud services outage in the Central US region has been resolved.
Do you have Budget related queries? Ask Finance Expert Ambareesh Baliga.
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Declining commissions, stagnant markets and increased foreign competition have forced brokerages to enter into marriages as well as new businesses.
The firms settled the charges by paying a total of $1.8 million.
Thousands of retail investors are reaping the benefits of the disruption that the latest technologies have brought to the equity market. Brokerage firms are aggressively investing in technologies such as artificial intelligence, machine learning, big data and analytics, social media, chatbots, virtual assistants and so on.
Shares of Motilal Oswal Financial Services, Edelweiss Financial Services and IIFL Holdings have all doubled in the past one year against the Sensex's 23 per cent gain.
With equity and commodity exchanges allowed to enter each other's areas from October, brokerages are pump-priming their businesses to allow their clients seamless trading in commodities and equities.
Blackstone, KKR, and Bain Capital, among others, are in the race for its general insurance arm, and Bandhan Bank, Bain, and Dabur Investments have shown interest for RCap's 51 per cent stake in the life insurance business.
Vikas Khemani, the executive vice president & co-head, institutional equities at Edelweiss, spoke with rediff.com on sectors, themes and stocks that could make investors wealthy in long run.
Agriculture activity, according to recent channel checks by Prabhudas Lilladher, is expected to continue at a strong pace in FY22.
Among the lot, Rallis India, Escorts, Jubilant Life Sciences, and Crisil added half of the total gains made in the ace stock-picker's portfolio.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
The past eight months have seen vast improvement in the Indian economy, says Edelweiss Group chairman and chief executive Rashesh Shah, who feels domestic-oriented sectors are likely to do better.
'It could tempt investors to pick stocks that are not fundamentally sound.'
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
The surge in IT, auto and FMCG stocks were led by investors seeking safety against market volatility.
Although now free, Mangal's ordeal may be far from over.
The mid- and small-cap indices had a dream run between January 2017 and January 2018 - zooming 48 per cent and 56 per cent, respectively.
Brokerages expect revenue growth at a 7-quarter high but profitability may disappoint.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
ICICI Bank was the top Sensex gainer after S&P Global Ratings affirmed its 'BBB-' long-term issue ratings on the senior unsecured bonds.
Within the next 3 months, most brokers will enable you to intelligently invest via mobiles in MFs, FDs, and IPOs.
What stocks will gain from a normal monsoon?
Nifty 50 firms' net profit estimated to grow by a modest 3.1% in Q2, reports Krishna Kant.
Allegations of a particular market player being favoured over others were flying thick and fast in the early days of the scam.
As wholesalers largely failed to meet GST norms, companies were in a fix. According to industry veterans like Sunil Duggal, chief executive of Dabur, the hazard led many to look beyond third-party distribution and take the leap to cover unattended markets directly.
A rising rupee is a tailwind for dollar investors.
The implementation of MCLR from April 1 has already led to a rate cut of 10 basis points on home loans by the country's largest bank, State Bank of India, and others.
Sensex gains 2.4%, Nifty crosses 7,000; investors feel exit polls have vindicated their stand
Lenders are not enthused because, as brokers, their responsibility towards policyholders will be higher than corporate agents.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
