BSE jumps 9% after SEBI designates 15 stock brokers as QSBs; Check the brokerages list here
BSE Ltd, started the week by gaining as much as 8.98% on Monday’s early trades to reach an intraday high of ₹ 488.65 apiece on the National Stock Exchange (NSE). Its shares were trading at ₹ 483.75 apiece, up 7.90% at 11:51 AM on Monday.
The bourses have designated 15 trading platforms as Qualified Stock Brokers (QSBs) with effect from July 1, 2023.
Zerodha Broking, 5Paisa Capital, HDFC Securities, IIFL Securities, ICICI Securities (NS:), Motilal Financial Services, Kotak Securities, and Sharekhan are some of the notable brokers in the list. Angle One, Anand Rathi Share & Stock Brokers, Global Capital Market, Jainam Broking, Nextbillion Wealth and Investment, and RKSV Securities India are a few other designated QSBs. They are required to to meet enhanced obligations and discharge additional responsibilities.
The Securities and Exchange Board of India (SEBI) had issued guidelines in January to designate certain stock brokers as QSBs, having regard to their size and scale of operations, likely impact on investors and the securities market, as well as governance and service standards.
These guidelines came after the regulator noticed that certain stock brokers have come to occupy a significant position in the Indian securities market. This includes factors like size, trading volume, and amount of clients’ funds handled by them, which is leading to the concentration of activity among few stock brokers. The designation of QSBs is to ensure the orderly functioning of the securities market and to protect the interest of investors in the securities market.
BSE is an Indian Stock Exchange, located at Dalal Street in Mumbai. It is the only listed exchange in India and it facilitates the market for trading in equity, currencies, debt instruments, derivatives, and mutual funds.
BSE is a small cap company with a market capitalization of ₹ 6,073 crores. It has a return on equity of 9.86% and an ideal debt to equity ratio of 0.00. Further, it has a high dividend yield of 3.01%. The company’s shares were trading at a price to earnings ratio of 30.21, which is significantly higher than the industry P/E of 20.49, indicating that its shares might be overvalued or investors are willing to pay a higher price for its future earnings.
Written by Simran Bafna
The post BSE jumps 9% after SEBI designates 15 stock brokers as QSBs; Check the brokerages list here appeared first on Trade Brains.
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