HDFC Securities launches new broking app to compete with Zerodha and Groww

HDFC Securities launched discount broking all-in-one app HDFC Sky on September 25 (HDFC SKY) Launched. A fee of Rs 20 has been fixed for investment and trading through this app. This fee is higher than other online broking platforms. (grow)5paisa (5paisa) and zerodha (Zerodha) Is equal to.

The app will provide access to Indian Stocks, Exchange Traded Funds, Mutual Funds, Futures & Options, Currencies, Commodities, IPOs and Global Equities on a single fintech platform. On the occasion of the launch of the app, HDFC Securities Managing Director and CEO Dhiraj Relli said that it is an all-in-one platform, which makes it different from other apps in its category. “No other fintech in India has so many features on one platform,” he said.

Through HDFC Sky, the company intends to target Generation-Z, Millennials and new age investors. Dheeraj said, ‘We are working towards bringing government bonds and debt securities on the platform soon.’ However, the management of the company has not set any target related to market share in this regard. HDFC Securities currently has 3% market share among the active clients of NSE. Also, the company is aware that due to HDFC Sky, some users of HDFC Securities’ existing applications will reduce. However, the company believes that in the long term the market size of the company will increase and more and more Indians will invest in equities. Among the active clients of NSE, Zerodha’s market share is 19.4 percent and Grow’s market share is 19 percent.

This app is special

According to Reilly, HDFC Securities’ in-house research is the biggest feature of the HDFC Sky app. Here you can get detailed information about stock related suggestions, target price and financial performance of the company. He said, ‘Apart from stocks, ranking of mutual fund schemes has also been decided according to performance, so that investors can take decisions based on better information.’

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