Broking income set to hit `27,500 cr

Due to high turnover in the first nine months of current fiscal, the brokerage industry is estimated to clock a record broking income of Rs 27,500-28,500 crore in FY21, up 30-35 per cent growth compared to Rs 21,000 crore in FY20, says rating agency Icra.

The equity market reported an aggregate turnover of Rs 4,222 lakh crore in the first nine months of FY21, registering year-on-year (YoY) growth of 66 per cent. The average daily turnover (ADTO) rose to Rs 22.46 lakh crore till December in FY21 compared to Rs

13.89 lakh crore in the comparable period last year and Rs 14.39 lakh crore in FY20.

"The industry growth rate, however, is expected to moderate in the fiscal

2021-22 with gradual moderation in transaction volumes," Icra said.

The rating agency expects industry aggregate broking income of Rs

29,500-30,500 crore (YoY growth of 7-8 per cent), in

FY22. Growing retail share along with increased interest and other fee income is expected to support profitability of brokerages.

Large

established

entities with strong presence in online broking have increased their market share in the current environment. As per NSE data, the top 20 brokerage houses together accounted for about 84 per cent of overall active client accounts as of December 2020, up from 75 per cent as of March 2020 and 57 per cent as of March 2019.

Discount brokerage houses have been able to garner a predominant share of the new accounts supported by their technology-driven business model. But many traditional brokerage companies had a slow start to the year in terms of client additions.

Vibhas, Jeetendar, Mohammed Faisal and Syed Maaz Ali made the semifinals of the junior snooker at the Telangana State Ranking Snooker & Billiards Championship at the Telangana Cue Sports Association premises on Tuesday.

In the quarterfinals, Vibhas prevailed over P. Sai 39-53, 86-22, 40-56, 6451, 73-21 while Jeetendar too scored a similar 3-2

(46-52, 72-36, 31-55, 43-39,

49-40) win over Saurav. Md Faisal beat Md Bilal Khan over five frames 5520, 26-33, 43-52, 56-15, 57-27) and Syed Maaz Ali defeated Abdul Nadeem 26-70, 771, 65-47, 55-24, 78-16.

THE RESULTS

Junior Snooker Quarterfinals: Vibhas bt P. Sai 3-2 (39-53, 86-22, 4056, 64-51, 73-21); Jeetendar bt Saurav

3-2 (46-52, 72-36, 31-55, 43-39, 4940); Md Faisal bt Md Bilal Khan 3-2

(55-20, 26-33, 43-52, 56-15, 57-27); Syed Maaz Ali bt Abdul Nadeem 3-2

(26-70, 7-71, 65-47, 55-24, 78-16). Second Round: Md Faisal bt Srikanth

2-0 (54-36, 66-34); Saurav bt Zeeshan Fawaz 2-0 (62-10, 56-20); P. Sai bt Bharath Choudhary 2-0 (58-8, 59-9); Bilal Khan bt Majid Khan 2-0 (59-49,

66-44); Jeetendar bt Habeeb 2-1 (6644, 41-70, 66-34); Md Abdul Nadeem bt Pratham Jain 2-0 (53-47, 47-29).