Indias broking industry has experienced massive growth ever since the years of the pandemic. According to reports from January 2024, 4.9 million demat accounts were opened in December of 2023 itself, with the year ending at a total tally of 139 million.
The broking industry is expected to achieve all-time high revenues and net profits in FY24, driven by a revival in investor sentiment, according to a report by rating agency ICRA.
“Our thrust was always to cater to the investors and not so much to the traders With this platform, we strongly believe that we have a compelling proposition for trading communities also and millennials, GenZ, who are looking forward to a more short term intraday and trading activities. So we believe that we will gain significant market share with HDFC Sky.”
Nithin Kamath says his company realised early on that there's an opportunity to get into the broking industry and clean up. "There is a way to disrupt, just operationally, even if it's not a product," he adds.