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Axis Sec displaces Upstox from 3rd spot, thanks to Karvy - The Hindu BusinessLine

Axis Securities displaces Upstox from 3rd spot, thanks to Karvy March 05, 2021 × Axis Securities, a fully-owned subsidiary of Axis Bank, has toppled Upstox to become the third largest broking firm with the acquisition of Karvy Stock Broking. Axis Securities has acquired 11.5 lakh trading accounts from Karvy, taking its overall count to 36 lakh. The market leader ICICI Securities has 50 lakh accounts followed by Zerodha with 40 lakh accounts, as of December-end. To facilitate a seamless transfer, Axis Securities has made the entire journey digital and paperless for Karvy customers. The migration process has been initiated by the Exchanges and once the process is completed, Axis Securities will share trading account details with Karvy customers along with login credentials. Customers can open a fresh demat account to shift their existing holding under Axis Securities DP.

IIFL Securities soars after winning bid to acquire Karvy accounts

IIFL Securities jumped 10.2% to Rs 61.9 after the company emerged as the successful bidder for demat accounts held by Karvy Stock Broking with NSDL and CDSL.IIFL Securities will get access to 11,06,108 accounts from Karvy Stock Broking. The custody value of these accounts as of 31 January 2021 is Rs 3,01,407 crore. Since December 2019, Karvy Stock Broking s trading terminals on NSE and BSE were closed under Sebi orders. In November 2019, SEBI barred Karvy from enrolling new clients for stock broking services and also prevented it from using the Power of Attorney (PoA) given by clients after it was found to have allegedly misused clients securities.

Market rises for 3rd day, Nifty reclaims 15K mark; RIL climbs 3 8%

Market rises for 3rd day, Nifty reclaims 15K mark; RIL climbs 3 8%
business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.

Nifty settles near 15,100; RIL jumps 4%

Nifty settles near 15,100; RIL jumps 4%
business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.

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