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Active user base of major stockbrokers drops by a million this year amid regulatory tightening - The Economic Times
Economic Times
·
29d ago
Medial
The active user base of major Indian stockbroking platforms, including Groww, Zerodha, and Angel One, fell by 1 million to 29.5 million between February and June 2023. This decline is attributed to regulatory tightening around trading instruments like futures and options, as well as market volatility, which dampened retail investor participation. Despite this, the platforms recorded year-on-year growth in user bases, and Groww has filed for an IPO, aiming to raise up to $1 billion.
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Only a third of investors are active, Share.Market aims to change that: PhonePe Co-founder Rahul Chari
Money Control
·
1y ago
Medial
PhonePe, a major Indian fintech, has launched its stockbroking app "Share. Market" to tap into the expanding retail investor base. With only 30% active retail participation in the stock market, PhonePe aims to cater to the growing middle-class segment as their disposable income rises. The app offers trading in stocks, mutual funds, and ETFs, and its differentiator is discount broking services. PhonePe's financial services expansion beyond payments includes recent acquisitions and addresses regulatory compliance amid evolving regulations.
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Groww and Zerodha user base shrinks in February, PhonePe gains
Entrackr
·
5m ago
Medial
For the first time in the past year, the number of registered users on these platforms declined, slipping by 1.37% to 48.97 million in February, down from 49.64 million in January. Groww retained its top position in overall active users with a 26.57% market share, despite a 1.68% decline in its user base, which fell to 13.01 million in February from 13.23 million in January, according to NSE data. Meanwhile, Zerodha, the second-largest brokerage who holds 16.25% market share, also witnessed a 1.55% month-on-month decline, with its active client base dropping to 7.96 million in February from 8.08 million in January. Angel One, the third-largest broker, saw a 1.53% decline in its user base, ending February with 7.65 million active clients and a 15.62% market share. The decline in user numbers across platforms can be attributed to sluggish market conditions over the past few months. Other major brokers, including Upstox and ICICIdirect, retained their 4th and 5th positions, respectively, but also saw a drop in active users. Upstox, backed by Ratan Tata, reported 2.79 million active users with a 5.70% market share, down 2.42% month-on-month. Similarly, ICICIdirect's active user base declined by 0.57% to 1.94 million. Among traditional players, HDFC Securities bucked the trend, recording a 1.97% MoM growth, while Kotak Securities saw a 0.93% decline, ending February with 1.49 million users. Motilal Oswal and SBI Securities maintained their 8th and 9th positions, respectively, with 1.02 million and 0.98 million active users, holding market shares of 2.08% and 2.01%, respectively. On the other hand, PhonePe’s Share. Market saw one of the highest growth rates among emerging brokers, expanding its user base by 2.58% to 0.35 million active clients. Other rising platforms, Dhan and INDmoney, also increased their user bases by 0.70% and 1.12% MoM, respectively.
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As X loses its CEO, daily usage is down and competition is growing
TechCrunch
·
29d ago
Medial
X, formerly led by CEO Linda Yaccarino, is grappling with a 10% drop in daily active users, amid heightened competition from Meta's Threads and other rivals. Despite maintaining a 65% larger user base than Threads, X’s growth has stalled. Threads, leveraging its connections with Meta’s platforms, is rapidly expanding, nearing X’s mobile user figures and boosting its app's ad ecosystem. X’s user engagement remains strong, but the competitive landscape is intensifying.
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Groww maintains lead over Zerodha and Angel One amid user base decline in June
Entrackr
·
1m ago
Medial
Groww maintains lead over Zerodha and Angel One amid user base decline in June The Indian stock market’s active user base has declined from a peak of 49.67 million in January to 47.89 million in June. However, it grew 2% month-on-month in the previous month, from 46.93 million in May. Groww maintained its leading position in overall active users with a 26.27% market share, despite a 1.67% drop in its user base, which declined to 12.58 million in June from 12.79 million in May, according to NSE data. Meanwhile, rival Zerodha retained its second spot with a 15.58% market share and 7.58 million users. However, it saw a 2.23% month-on-month decline from 7.75 million users in the previous month. Angel One holds the third spot with a 15.28% market share and 7.32 million users, narrowing the gap with Zerodha. Other major brokers, Upstox and ICICIdirect, held on to the fourth and fifth positions, respectively. Ratan Tata-backed Upstox (5.37% market share) saw a 3.36% decline in its user base to 2.57 million, while ICICIdirect (4.07% market share) maintained a steady user base of 1.95 million. Among traditional brokers, HDFC Securities (1.58 million users) and SBI Securities (1.01 million) recorded month-on-month growth of 1.32% and 1.65%, respectively. In contrast, Kotak and Motilal Oswal saw declines of 0.86% and 1.07%, respectively. Emerging broker Dhan retained its 10th position with 1 million users and a market share of 2.08%. Paytm Money’s user base grew by 2.74% to 7.24 lakh, while Sharekhan’s client base declined by 2.46% to 6.25 lakh. Both remained among the top 20 stock brokers. On the other hand, PhonePe’s Share.Market appears to be losing ground, with its user base declining by 3.52% in June to 3.47 lakh users.
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‘2025 will be critical’: Sundar Pichai explains why ‘stakes are high’ for Google next year | Mint
Livemint
·
7m ago
Medial
Google CEO Sundar Pichai emphasized that 2025 will be a crucial year for the company during a strategy meeting. He highlighted the urgency of focusing on technological advancements and addressing real user problems amid increasing global regulatory scrutiny. Pichai noted that the company's top priority will be building significant new business, particularly through the Gemini app, which aims to reach half a billion users. Scaling Gemini on the consumer side will be a major focus for Google next year.
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Debt collection platform Credgenics’ profit triples to Rs 25 crore in FY25; revenue up 40%
Economic Times
·
1m ago
Medial
Credgenics, a debt collection platform, saw its net profit triple to Rs 25 crore in FY25, driven by increased demand for efficient recovery methods amid rising defaults. Revenue rose to Rs 220 crore from Rs 155.6 crore the prior year. The company shifted focus from unsecured personal loans to stable growth areas due to regulatory tightening. Credgenics collaborates with public sector banks and expanded into the Middle East, securing investments that valued it at $340 million.
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Reddit's IPO as much as five times oversubscribed
Economic Times
·
1y ago
Medial
Reddit's IPO is oversubscribed and it is likely to achieve its targeted valuation of $6.5 billion. The social media platform is expected to price its IPO between $31 and $34 per share when it goes public this week. While Reddit has faced challenges, such as financial losses and content moderation issues, it has a loyal user base and influential communities. The company has reserved a portion of its shares for retail investors and eligible platform users. Reddit had an average of 73.1 million daily active users in the last quarter of 2023.
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New-age stock brokers feel pinch of marketing costs
Economic Times
·
7m ago
Medial
New-age stockbrokers face increased customer acquisition costs due to rising Google keyword prices, driven by heightened interest in IPOs. Brokers bid on terms like "open demat account" to secure ad visibility, significantly inflating costs. Regulatory crackdowns on affiliate marketing have intensified competition, prompting a focus on app downloads. Major platforms like Zerodha and Groww now invest heavily in search engine optimization and educational content to attract users, amidst stagnant growth in the Indian stock trading market.
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China's Alibaba launches ecommerce subsidies of $7 billion in consumption boost - The Economic Times
Economic Times
·
1m ago
Medial
Alibaba's online retail platform, Taobao, is launching $7 billion in subsidies to boost spending in China, starting Wednesday for a year. The incentives include digital "red envelopes" and product discounts, aimed at stimulating consumer activity amid economic challenges like deflation and a property crisis. Chinese authorities are implementing policy measures, including interest rate cuts, to encourage spending. President Xi Jinping emphasizes creating a unified national market to enhance economic growth.
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PhonePe anticipates increased market share: CEO Sameer Nigam on RBI action against Paytm
Economic Times
·
1y ago
Medial
PhonePe CEO Sameer Nigam expects to gain a share of Paytm's user base following regulatory action by the Reserve Bank of India against Paytm Payments Bank. PhonePe saw a 15-20% increase in its user base due to the challenges faced by Paytm. Nigam acknowledged the complexity of the regulatory environment and the importance of regulatory decisions. PhonePe is launching its Indus Appstore on February 21 to challenge Apple and Google's dominance. The deadline to make deposits or recharge accounts with Paytm Payments Bank has been extended to March 15.
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