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  3. HDFC Sec takes on Zerodha, Groww with new platform 'Sky', bets big on m…

HDFC Sec takes on Zerodha, Groww with new platform 'Sky', bets big on margin trading facility

26 Sept 2023

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Key Takeaways

  • HDFC Securities, with this launch, might practice cost-effective trading,& aiming for diverse investment opportunities.

  • This move might attract investment into the company securities due to convenience & user-friendliness.

  • HDFC Securities, with this launch, might practice cost-effective trading,& aiming for diverse investment opportunities.

  • This move might attract investment into the company securities due to convenience & user-friendliness.

HDFC Securities Unlisted Shares

HDFC Securities

-2.92%

Expert Analysis

HDFC Sec takes on Zerodha, Groww with new platform 'Sky', bets big on margin trading facility.

Justification

  • HDFC Securities, launching  HDFC SKY, a  discount broking all-in-one app for investing and trading at the one-price slab of Rs 20 on 25th Sep 2023, targets new age investors, Gen-Z, and millennials.

  • The app will access Indian stocks, ETFs, Mutual Funds, F&O, and IPOs.

  • It is working on getting Government of India bonds debt securities on the platform shortly.

  • App’s Unique selling proposition includes its in-house research team, providing stock recommendations followed by a margin trading facility (MTF) with an interest of 12% against a market rate of 18-21%.

  • The investors can monitor their MTF holdings as a separate ledger.

  • The company holds a 3% market share in active NSE Clients against 19.4% and 19% by Zerodha & Groww, respectively.

Publisher:Money Control