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Dhan crosses 1 Mn users mark in Feb; Groww continues to lead stockbroking space

EntrackrEntrackr · 2d ago
Dhan crosses 1 Mn users mark in Feb; Groww continues to lead stockbroking space
Medial

Dhan crosses 1 Mn users mark in Feb; Groww continues to lead stockbroking space India’s retail broking industry added 3.5 lakh users in February, taking the total to 4.54 crore. Groww led additions, while Dhan crossed the 1 million user mark. India’s retail broking industry saw moderate growth in February as active users rose by over 3.5 lakh to 4.54 crore from 4.51 crore in January 2026. Groww continued to add the highest number of users, with 3.5 lakh new clients in January and 2.65 lakh in February. Significantly, Dhan crossed the 1 million users mark after adding 19,000 new users during the last month. Zerodha and Angel One each added over 10,000 clients during the month. According to NSE data, Groww saw another 2.13% month-on-month rise in its user base in February 2026, which took its total client base to around 1.27 crore (12.75 million) and pushed its market share to 28.03%. Zerodha again added 10,000 clients in February, after several months of decline last year. The firm had lost around 1 lakh users in November and another 72,000 in December. Its total user base now stands at 68.72 lakh, with a 15.11% market share. Angel One added over 10,000 new demat accounts in February after a loss of 13,000 users in January. Upstox slipped to 5th place in January after losing 41,000 users and continued its decline in February, losing over 27,000 accounts, with its market share falling to 4.42%. Among traditional players, ICICI Securities, SBI Securities, and Kotak Securities added around 30,000, 16,400, and 9,500 accounts, respectively. Paytm saw an increase of about 9,700 accounts, while HDFC Securities and Motilal Oswal reported a decline in client numbers. Emerging brokers Dhan and INDmoney reported growth in their user base, adding 19,000 and 6,000 users, respectively. Recently turned unicorn Dhan crossed the 10 lakh user mark, with a market share of 2.24%.

Groww maintains lead over Zerodha and Angel One amid user base decline in June

EntrackrEntrackr · 8m ago
Groww maintains lead over Zerodha and Angel One amid user base decline in June
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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