High value traders with a funding book size above Rs 25 lakh can now access Margin Trading Facility at 9.75% p.a. interest rate, says Paytm Money
The settlement order was issued on February 13
Angel One looks on track to take over Zerodha as the second largest stock broking firm over next three months. Groww remains the leader, closing in on 1.2 crore users
Paytm plans to set up a development centre in GIFT City, which it says will contribute to job creation and also have engineers to develop a suite of financial products and services.
Fellow stock broking apps, including Groww, Zerodha, Angel One and Upstox clocked 90%, 20%, 48% and 19% jump year-on-year in their active user base, respectively.
The wealth management app has not filed an official communication to the stock exchanges or got board approval for the new appointment.
Paytm Payment Bank account holders claimed to have been facing issues to change their bank accounts on brokerage platforms, who are said to be aggressively educating customers about the latest update to facilitate smooth transition
The company said in a mail that prices will remain unchanged for existing users at zero for stock delivery and Rs 10 per intraday of F&O order executed.
Upstox’s active user base stands at 5 million, while Zerodha’s is at 6.2 million of its total 9 million users
Investors can bid for a minimum lot size of 15 shares and in multiples thereof. A retail investor can apply for up to 14 lots or 210 shares for an amount of Rs 1,99,290 at the upper price band.
Paytm Money, which is a wholly-owned subsidiary of One97 Communications Ltd, said it is partnering with InvestorAi to offer stock recommendations based on signals generated using artificial intelligence.
Intra-day trading, equity derivatives and IPOs saw a big jump in investor interest, a report by Paytm subsidiary Paytm Money shows
The service has been launched in line with Paytm Money’s efforts to offer next-gen and AI driven tech to elevate user experience, the company said in a statement.
Paytm Money has partnered with start-up WealthDesk to offer investment portfolios called "WealthBaskets" as the first step to build up the advisory ecosystem.
Per Nema Chhaya Buch, an independent personal finance strategist, risk appetite when we are young is high. Hence, investing in growth-oriented, high-risk investment avenues can be afforded.
The aim is to create a space to get people talking and breathing the derivatives way of life and build a community that learns from and inspires each other.
Zomato is the first IPO on Paytm Money launched with the feature.
Paytm Money has the aim to bring 10 million Indians to equity markets by the financial year 2022.
Paytm Money said that it had received an overwhelming response for F&O trading on its platform with over 1 lakh requests for its Early Access Program.
The company said that it has completed two years of business and has been able to acquire 66 lakh customers to invest in various financial services out of which 70 percent users were the first time investors.
Groww forayed into stock broking. Paytm Money followed. Other startups are raring to go. What does this mean for the stock market ecosystem?
The company received approval for stockbroking services from SEBI in 2019
In future, we are planning to cross-sell services such as loan against mutual funds and loan against securities to investors on our platform and earn money
Not too long ago, mutual fund investment was perceived to be for the rich alone. But now with ample awareness around the subject, the focus has shifted to make it a more inclusive affair.
Pravin Jadhav, MD & CEO, Paytm Money, talks about how technology is driving business growth for his company