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Groww nears 13 Mn active users in November, INDmoney overtakes Paytm Money

EntrackrEntrackr · 8m ago
Groww nears 13 Mn active users in November, INDmoney overtakes Paytm Money
Medial

Bengaluru-based fintech unicorn Groww continues to dominate the Indian stockbroking space, expanding its lead over competitors by achieving a milestone of 12.88 million active clients in November 2024. This translates to a commanding 26.35% market share, according to the latest data from the National Stock Exchange (NSE). Groww added 2,82,577 new users in November alone. The Lalit Keshre-led company surpassed Zerodha in October last year and has maintained its leading position ever since. Zerodha retained its second position with 8.12 million active users, accounting for 16.62% of the market share. Angel One, ranked third, has 7.63 million active clients and a 15.61% market share, closely following Zerodha. Angel One's consistent growth suggests it could potentially challenge Zerodha’s position in the near future. Upstox, the fourth-largest broker, had 2.87 million active users in November with 5.88% of the market. ICICI Direct secured the fifth spot with 1.94 million users and a 3.97% market share. Key performers in the top 10 include Kotak Securities with 1.48 million active users (3.03% market share), HDFC Securities with 1.38 million active users (2.81% market share), Motilal Oswal with 1.02 million active users (2.08% market share), SBI Securities with 0.98 million active users (2.01% market share), and Dhan with 0.89 million active users (1.83% market share). Outpacing Paytm Money and Sharekhan, INDmoney captured the 11th spot, with 7,32,437 users (1.50% market share). Paytm Money and Sharekhan are next with 7,15,020 and 7,07,984 users, respectively. Mirae Asset, 5paisa, and IIFL Securities are also among the top 15. Notable players such as PhonePe’s Share.Market and FYERS, are contributing to the vibrant competition in the space. The combined market share of the top three brokers—Groww, Zerodha, and Angel One—stands at over 58.58%. Traditional players like ICICI Direct, Kotak Securities, and HDFC Securities continue to hold ground against discount brokers.

Tata 1mg revenue nears Rs 2,400 Cr in FY25, trims losses

EntrackrEntrackr · 25d ago
Tata 1mg revenue nears Rs 2,400 Cr in FY25, trims losses
Medial

Tata 1mg, the digital healthcare platform backed by Tata Digital, continued its growth trajectory in the fiscal year ending March 2025 while straining its losses. Tata 1mg’s consolidated revenue rose 22% to Rs 2,392 crore in FY25 from Rs 1,968 crore in FY24, according to Tata Sons’ Annual Report for the fiscal year. Tata 1mg is a health tech startup for online orders of allopathic, ayurvedic, homeopathic medicines, vitamins, nutrition supplements, and other health products, delivered to the home. 1mg’s revenue was split across two entities: Tata 1mg Technologies, which clocked Rs 2,016.5 crore, and Tata 1mg Healthcare Solutions, which contributed Rs 375.5 crore in FY25. The company's total cost rose by 17% to Rs 2682 crore in FY25, up from Rs 2303 crore in FY24. The Gurugram-based company posted a consolidated loss of Rs 276 crore in FY25, 12% lower than the Rs 313 crore loss reported in FY24. On a unit basis, the company spent Rs 1.12 to earn a rupee of operating revenue in FY25. On the asset side, Tata 1mg reported total assets of Rs 2,025 crore at the end of FY25 while its total liabilities reached Rs 1,190 crore. In the e-health space, Tata 1mg competes with Reliance-backed Netmeds, PharmEasy, and Apollo 24/7. Tata Digital acquired a 55% stake in 1mg in June 2021 but has since gained around 8.5% additional stake in the e-medicine platform. According to TheKredible, Tata Digital currently holds a 63.5% stake in 1mg, which was last valued at 1.25 billion. Tata Digital reported a standalone revenue of Rs 546.9 crore and a loss of Rs 827.5 crore in FY25, indicating continued investment in its digital commerce bets including 1mg and other verticals such as BigBasket, Cult.fit, and the recently launched Tata Neu.

PhonePe, G-Pay lead UPI in Nov; Flipkart's super.money overtakes Amazon Pay

EntrackrEntrackr · 8m ago
PhonePe, G-Pay lead UPI in Nov; Flipkart's super.money overtakes Amazon Pay
Medial

Unified Payments Interface (UPI) recorded a 6.6% decline in transaction count (15.48 billion) and an 8.3% decrease in transaction value (Rs 21.55 lakh crore) in November compared to October. The top UPI apps also saw a slight decline in their volume and value, while a few new players have improved their positions in the competitive landscape. Despite the overall decline, PhonePe maintained its dominance in the UPI market with 7.4 billion transactions amounting to Rs 10,88,635.03 crore. The platform held 47.82% of the transaction volume and 50.52% of the transaction value. Google Pay followed as the second-largest UPI player, processing 5.7 billion transactions worth Rs 7,64,639.66 crore, capturing 37.07% of the volume and 35.48% of the value. Paytm (OCL) retained its position as the third-largest player, facilitating over 1 billion transactions worth Rs 1,18,004.06 crore. It accounted for 6.95% of the total UPI transaction volume and 5.48% of the transaction value. Notably, Navi maintained its lead over Cred to secure the fourth position in terms of transaction volume. The app processed 152.95 million transactions valued at Rs 8,806.45 crore. Cred, which previously held the position, reported 138.24 million transactions totaling Rs 50,560.48 crore. Axis Bank Apps supported 22.20 million transactions worth Rs 4,151.71 crore, while Flipkart’s super.money handled 78.49 million transactions valued at Rs 3,130.10 crore. Amazon Pay recorded 71.60 million transactions worth Rs 7,914.87 crore. This is the first time super.money has surpassed its rival Amazon Pay in UPI transactions. The app was launched in June this year. FamApp by Trio processed 67.41 million transactions amounting to Rs 777.46 crore, and ICICI Bank Apps rounded off the top 10 with 51.13 million transactions valued at Rs 18,538.92 crore. The top three players—PhonePe, Google Pay, and Paytm (OCL)—continue to dominate the UPI market with a combined share of over 90% in both transaction volume and value. To promote digital transactions, the Reserve Bank of India (RBI) has further raised the UPI Lite wallet limit to Rs 5,000 and increased the per-transaction limit to Rs 1,000.

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