Highlights of October 2019
Equity business
- The overall broking revenues grew by 6% month on month (MoM)
- The number of new accounts also increased by 6% over September
- Our market share in the cash market improved by 2% MoM
- Our share in the futures and options market grew by 5% over the previous month
Mutual funds
- The assets under management (AUM) rose by 3.5% to Rs3,727 crore MoM
- Our ranking in the industry in terms of new SIP counts remained among the top 20
- Our ranking in the industry in terms of AUM remained among the top 50
Portfolio Management Services
- The net asset value increased by 2% MoM
Last month the stock market was buoyant on expectations of a further reduction in the corporate tax. The buoyancy provided the much needed support to our business. The overall revenues expanded while the market share in the cash and derivatives markets improved over the previous month. Having said that, I will attribute part of the positive performance to our own efforts. I congratulate my colleagues in the Client acquisition department for growing the new client base despite a drop in the staff strength.
The buoyancy in the stock market also benefited the mutual fund business and we registered 10,041 new Systematic Investment Plans during the month. A high number of redemptions during the month kept the SIP book flat though.
Our efforts also brought us some recognition from one of the leading stock exchanges last month, as we won the Regional Retail Member – West of the Year award at the National Stock Exchange Market Achievers 2019 Awards. We all deserve a pat on our back for our efforts. I know for sure that we can do much better though. After all, we had won the same award at the national level last year. So let us accelerate and aim to end the year with a better performance.
|