19 March 2024
4 mins read
Brokerage charges are the fees brokers collect for executing buy and sell transactions in the stock market. This blog explains how brokerage charges are calculated, the different brokerage models, the types of brokers available, and the statutory charges applicable to trades. It also covers how to compare brokerage costs and choose a demat and trading account based on your trading and investment requirements.
The total cost of trading includes brokerage fees as part of the overall costs associated with trading. As such, if you are active in purchasing or selling shares, minor differences in brokerage fee amounts can have substantial cumulative impacts on all your past trades.
By understanding what constitutes brokerage fees, you will be able to effectively compare brokers against one another for cost purposes.
Different brokers will price their services based upon several different pricing models. There are also taxes and other mandated charges that will be added onto your brokerage charge.
Understanding how brokerage costs work, how they are calculated, and what types of brokers exist can all assist with making a smart decision when looking to open a demat account.
Fees charged by brokers for executing buy and sell orders on your behalf are referred to as brokerage charges. These charges are one of the components that go into calculating your total transaction costs every time you trade in securities.
The amount of brokerage charged to you depends on the broker's pricing structure, the type of transaction, and which market segment you are trading in.
Knowing the amount of these fees can help you calculate your trading costs more accurately and compare various brokerage plans when selecting an account.
Brokerages have unique pricing schemes and service offerings so as to facilitate comparison between them. Identifying these categories enables a better understanding of each other’s features.
Discount Brokers
Discount Brokerages are primarily web-based and, therefore, do not tend to offer as much investment advice or research. In contrast, they tend to concentrate on execution only.
Full-Service Brokers
Full Service Brokerages usually provide a combination of execution, research reports, investment strategies or advice related to planning a portfolio, and customer service. Full Service Brokerages will have different levels of support based upon the total services offered.
Brokerage charges are one of the costs involved in a stock market transaction. Understanding how these charges are calculated can help you estimate the total transaction cost before placing a trade and compare different brokerage plans.
Brokerage Fee Structure
Brokers generally calculate brokerage either as a fixed fee per executed order or as a percentage of the total transaction value. The applicable method depends on the brokerage plan offered by the broker.
Statutory Charges
Apart from brokerage, stock market transactions may attract statutory charges such as Securities Transaction Tax (STT), Goods and Services Tax (GST), SEBI charges, exchange transaction charges, and stamp duty, wherever applicable.
Total Transaction Cost
The total trading cost includes both the brokerage charged by the broker and the applicable statutory levies. These charges together determine the overall amount payable for executing a transaction.
Using An Online Brokerage Calculator
Many brokers provide an online brokerage calculator that estimates brokerage and other applicable charges. By entering your transaction details, you can view the estimated total cost before placing your order.
Brokerage fees are what your broker charges you for executing buy and sell orders on your behalf.
Traditional brokers might charge you a percentage of your trade value.
Discount brokers usually charge a flat fee, sometimes as low as ₹20 per trade.
Here’s the thing — those ₹20 flat fees add up way slower than a percentage-based fee if you’re an active trader. Using a brokerage calculator is one of the smart things you can do. I use it before large trades just to make sure the costs make sense.
Many brokers charge variable minimum Brokerage based on their pricing policy – how they use or calculate the minimum that will be charged to you is based on your trading activity. By knowing this, you should be able to compare brokerage plans with greater ease when opening a new broker account.
Some brokers charge a minimum brokerage amount for each order fulfilled, while others only charge a percentage on each trade that you execute with them. Your brokerage will differ based on the broker you choose and where you are executing your trades.
To fully understand how much you are paying to execute trades in your brokerage account, you should evaluate the cost of the brokerage on your trade, compare the cost of all possible brokers, and consider your overall cost of trading.
SEBI has rules here:
Equity delivery — Max 2.5% of the transaction value.
Intraday — Max 0.25% of the transaction value.
Many brokers don’t go anywhere near these caps now, but it’s still worth knowing. Just because they can charge up to that doesn’t mean they should — or that you should pay it.
The brokerage charge will differ among different brokers. If you understand how to identify and compare your trading costs based on brokerage charges, then you will know which type of brokerage will best fit your trading style.
Brokerage Model – Some brokers choose flat-fee brokerage plans per trade, while others price their brokerage on a percentage of each value of the trade. Your trading volume is a major factor in how much brokerage you will be charged by your broker.
Market Segment – Certain segments of the market will offer different types of brokerage structures. Examples of this are equity delivery versus equity day trading, derivative trading, commodity trading and currency trading. Therefore, brokers have separate brokerage charge structures for these types of transactions.
Trading Volume – There are some brokers who offer different types of brokerage plans based on your transaction value or trading activity. In this case, you will be charged according to the pricing model established by the broker.
Brokerage expenses are included in the overall cost of your investment. Knowing how these affect the overall cost of buying and selling securities gives you a clearer idea of the total cost before you complete a trade.
Overall Trading Cost – Over time, frequent trading can increase the total cost of buying or selling, which in turn increases the overall transaction cost.
Net Investment Returns – Frequent trading can have an adverse effect on your net investment return due to the high brokerage costs associated with each trade.
Investment Planning – The comparison of brokers and their fees with other statutory charges may give you a better estimate of the total cost involved in your investments before placing any trade.
One of the factors in selecting a broker is having low brokerage fees. However, you will want to ensure they are providing you with service, technology support, and compliance prior to opening accounts.
Transparent Pricing – Most brokers will provide a clear disclosure of the brokerage fees, account fees, and all applicable costs associated with trading.
Reliable Trading Platform – An effective and stable trading platform will provide you with the ability to place trades, track investments, and see market data.
Regulatory Compliance – To be certain that you are complying with regulations, use a SEBI-approved broker.
Here’s where it gets practical for you:
Futures — Can be as low as 0.01%–0.03% of transaction value or ₹20 flat per order. Perfect if you trade large volumes.
Intraday — Also in the 0.01%–0.03% range or ₹20 flat per order. If you do multiple trades a day, the savings add up fast.
Delivery — Typically 0.1%–0.5% of transaction value. Some discount brokers even offer zero brokerage on delivery.
Options — Around ₹20 per executed order or 0.01%–0.03% of premium value. Ideal for frequent options traders.
I personally use different products depending on the market mood, but having low brokerage across all keeps my costs predictable.
The broker you choose will depend on your individual trading habits and needs for service from your broker, as well as whether you are a long-term investor or active trader.
To make an informed decision, comparison of various brokers' features is necessary.
Compare Charges – Before choosing a broker, review their brokerage fees, as well as their annual maintenance fees and other transaction fees.
Review Platform Features – When considering brokers, you should compare trading tools, research features, mobile trading capabilities, order execution options, and customer service options to find the right broker for your level of investing experience.
Check Regulatory Status – Make sure your broker is registered with SEBI and a member of the appropriate exchange before opening an account.
To open a demat and trading account, there are typically a number of steps to follow. Completing these correctly will enable you to begin trading through the given platform with ease.
Complete Online Registration – Start by registering online on the Bajaj Broking website with all your personal information.
Submit KYC Documents – Next, submit or scan KYC documents, including proof of identity (e.g., a valid driver's licence), proof of address (e.g., a utility bill), PAN card number, and banking details for verification through the KYC system.
Complete Verification – Finally get through the entire verification process (including completing the e-sign) before you can gain access to your accounts as permitted by the platform once approved.
This content is intended for educational and informational purposes only. Brokerage charges, account fees, regulations, and platform features may change over time. Please refer to the latest terms and conditions of the broker and applicable regulatory guidelines before opening or operating a trading account.
Discount brokers offer lower brokerage fees by operating on a low-cost model that minimizes overhead expenses, allowing them to pass on the savings to traders in the form of reduced fees.
While low brokerage accounts offer competitive fees, be aware of potential hidden charges such as account maintenance fees, transaction costs, and additional service fees.
Brokerage charges directly affect overall trading costs. High brokerage fees can erode profits, especially for frequent traders, making it crucial to choose brokers with low, transparent fees.
Pros include lower trading costs and higher potential returns. Cons may include fewer value-added services and less personalized customer support.
Compare brokerage charges by analyzing the fee structures of various brokers, considering both flat-rate and percentage-based fees, and using online tools or calculators for a detailed comparison.
Disclaimer :
The information on this website is provided on "AS IS" basis. Bajaj Broking (BFSL) does not warrant the accuracy of the information given herein, either expressly or impliedly, for any particular purpose and expressly disclaims any warranties of merchantability or suitability for any particular purpose. While BFSL strives to ensure accuracy, it does not guarantee the completeness, reliability, or timeliness of the information. Users are advised to independently verify details and stay updated with any changes.
The information provided on this website is for general informational purposes only and is subject to change without prior notice. BFSL shall not be responsible for any consequences arising from reliance on the information provided herein and shall not be held responsible for all or any actions that may subsequently result in any loss, damage and or liability. Interest rates, fees, and charges etc., are revised from time to time, for the latest details please refer to our Pricing page.
Neither the information, nor any opinion contained in this website constitutes a solicitation or offer by BFSL or its affiliates to buy or sell any securities, futures, options or other financial instruments or provide any investment advice or service.
BFSL is acting as distributor for non-broking products/ services such as IPO, Mutual Fund, Insurance, PMS, and NPS. These are not Exchange Traded Products. For more details on risk factors, terms and conditions please read the sales brochure carefully before investing.
Investments in the securities market are subject to market risk, read all related documents carefully before investing. This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
For more disclaimer, check here : https://www.bajajbroking.in/disclaimer
Level up your stock market experience: Scan the QR to download the Bajaj Broking App for effortless investing and trading
Access Research Backed Stock Recommendations
|
Open Your Free Demat Account
Access Research Backed Stock Recommendations
|
"Investments in securities market are subject to market risk, read all the scheme related documents carefully before investing."
"Prevent Unauthorized transactions in your Trading/Demat Account. Update your mobile numbers/email IDs with your stock brokers/Depository Participant. Receive alerts/information of your transaction/all debit and other important transactions in your Trading/ Demat Account directly from Exchange/CDSL/NSDL at the end of the day. Issued in the interest of investors."
" We collect, retain, and use your contact information for legitimate business purposes only, to contact you and to provide you information & latest updates regarding our products & services."
"KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary."
"We understand that certain investment advisors may be approaching members of the public including our clients, representing that they are our partners, or representing that their investment advice is based on our research. Please note that we have not engaged any third parties to render any investment advisory services on our behalf nor are we providing any stock recommendations/tips/research report/advisory. Persons making investments on the basis of such advice may lose all or a part of their investments along with the fee paid to such unscrupulous persons. Please be cautious about any phone call that you may receive from persons representing to be such investment advisors, or a part of research firm offering advice on securities. Do not make payments through e-mail links, WhatsApp or SMS. Please do not share your personal or financial information with any person without proper verification. Always trade through a registered broker."
Bajaj Financial Securities Limited is a subsidiary of Bajaj Finance Limited and is a corporate trading and clearing member of BSE Ltd. and National Stock Exchange of India Ltd. (NSEIL), and also a Depository participant with National Securities Depository Ltd (“NSDL”) and Central Depository Services Ltd. (“CDSL”).
Bajaj Financial Securities Limited is engaged in the business of Stock Broking and as a Depository Participant.Bajaj Financial Securities Limited does not provide any advisory services to its clients. Bajaj Financial Securities Limited may share updates from time to time (through various electronic communication modes) which are sourced from public domain and the same are NOT to be construed as any advice or recommendation from Bajaj Financial Securities Limited. Client is requested to independently evaluate and/or consult their professional advisors before arriving at any conclusion to make any investment. The decision to invest shall be the sole responsibility of the Client and shall not hold Bajaj Financial Securities Limited, its employees and associates responsible for any losses, damages of any type whatsoever.
BSE Ltd. is not in any manner answerable, responsible or liable to any person or persons for any acts of omission or commission, errors, mistakes and/or violation, actual or perceived, by us or our partners, agents, associates etc., of any of the Rules, Regulations, Bye-laws of the Stock Exchange, Mumbai, SEBI Act or any other laws in force from time to time.
BSE Ltd. is not answerable, responsible or liable for any information on this Website or for any services rendered by our employees, our servants, and us.
Personal Loan, Fixed Deposit, EMI Card are provided by Bajaj Finance Limited. Bajaj Financial Securities Limited is only a distributor. These are not exchange traded products and all disputes with respect to the distribution activity, would not have access to exchange investor redressal forum or Arbitration mechanism.
No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account.
Client Registration Documents (Rights & Obligations, Risk Disclosure Document, Do's & Don'ts) in Vernacular Language: BSE | NSE
If the client wishes to revoke /cancel the EDIS mandate placed by them, they can write on email us or call on the toll free number.
Advisory for Investors : NSE | BSE
We also do pro-account trading in Equity & Derivatives Segment.
Filling complaints on SCORES/SMARTODR - Easy & Quick
A. Register on SCORES/SMARTODR portal B. Mandatory details for filling complaints on SCORES/SMARTODR (i) Name, PAN, Address, Mobile Number, E-mail ID C. Benefits: (i) Effective Communication (ii) Speedy redressal of the grievances.
SEBI Registration No.: INZ000218931 | BSE Cash/CDS/F&O (Member ID: 6706) | NSE Cash/F&O/CDS (Member ID: 90177) | MCX Member ID: 57680 | DP registration No : IN-DP-418-2019 | CDSL DP No.: 12088600 | NSDL DP No. IN304300 | AMFI Registration No.: ARN – 163403 Research Analyst SEBI Registration No. INH000010043
Compliance officer:
Mr. Harinatha Reddy Muthumula
TEL: 020-48574486
Email for any investor grievances or write to us for DP related matters.
DISCLAIMER
STANDARD DISCLAIMER
Investments in the securities market are subject to market risk, read all related documents carefully before investing.
Reg Office: Bajaj Auto Limited Complex, Mumbai –Pune Road Akurdi Pune 411035. Corporate Office: Bajaj Financial Securities Limited, 1st Floor, Mantri IT Park, Tower B, Unit No 9 & 10, Viman Nagar, Pune, Maharashtra 411014. SEBI Registration No.: INZ000218931 | BSE Cash/F&O/CDS (Member ID:6706) | NSE Cash/F&O/CDS (Member ID: 90177) | MCX Member ID: 57680 | DP registration No: IN-DP-418-2019 | CDSL DP No.: 12088600 | NSDL DP No. IN304300 | AMFI Registration No.: ARN –163403.
Website: Bajaj Broking
RESEARCH DISCLAIMER
Broking services offered by Bajaj Financial Securities Limited | Registered Office: Bajaj Auto Limited Complex , Mumbai –Pune Road Akurdi Pune 411035 | Corporate Office: Bajaj Financial Securities Limited, 1st Floor, Mantri IT Park, Tower B, Unit No 9 & 10, Viman Nagar, Pune, Maharashtra 411014 | CIN: U67120PN2010PLC136026 | Research Analyst SEB I Registration No: INH000010043.
Details of Compliance Officer:
Mr. Harinatha Reddy Muthumula (For Broking/DP/Research)
Email | Contact No.: 020-4857 4486
Investment in the securities involves risks, investor should consult his own advisors/consultant to determine the merits and risks of investment.
DISCLOSURES
Disclosures under the provisions of SEBI (Research Analysts) Regulations 2014 (Regulations)
Bajaj Financial Securities Limited ("Bajaj Broking" or "Research Entity") is regulated by the Securities and Exchange Board of India ("SEBI") and is licensed to carry on the business of broking, depository services and related activities. There were no instances of non-compliance by Bajaj Financial Securities Limited on any matter related to the capital markets, resulting in significant and material disciplinary action during the last three years. This research report has been prepared and distributed byBajaj Financial Securities Limited in the capacity of a Research Analyst as per Regulation 22(1) of SEBI (Research Analysts) Regulations 2014 having SEBI Registration No. INH000010043.
DISCLAIMER
This e-mail/ short message service (SMS) may contain confidential, proprietary or legally privileged information. It should not be used by anyone who is not the original intended recipient. If you have erroneously received this message, please delete it immediately and notify the sender. The recipient acknowledges thatBajaj Financial Securities Limited or its holding and/or associated companies, as the case may be, are unable to exercise control or ensure or guarantee the integrity of/over the contents of the information contained in e-mail /SMS transmissions and further acknowledges that any views expressed in this message are those of the individual sender and no binding nature of the message shall be implied or assumed unless the sender does so expressly with due authority of Bajaj Financial Securities Limited. This message is not intended as an offer or publication or solicitation for distribution for subscription of or purchase or sale of any securities or financial instrument(s) to anyone in whose jurisdiction such subscription etc. requires prior local regulatory clearance or is contrary to the local laws of the land in any manner or as an official confirmation of any transaction. Before opening any attachments, please check them for viruses and defects.
This service / information is strictly confidential and is being furnished to you solely for your information. This information should not be reproduced or redistributed or passed on directly or indirectly in any form to any other person or published, copied, in whole or in part, for any purpose unless otherwise expressly authorised. This service / information is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subjectBajaj Financial Securities Limited and affiliates/ group/holding companies to any registration or licensing requirements within such jurisdiction. The distribution of this document in certain jurisdictions may be restricted by law, and persons in whose possession this document comes, should inform themselves about and observe any such restrictions.
The data would be provided to the clients on an "as is" and "where-is" basis, without any warranty. Bajaj Financial Securities Limited or its subsidiaries and associated companies shall not be liable for any delay or any other interruption which may occur in providing the data due to any reason including network (Internet) reasons or snags in the system, breakdown of the system or any other equipment, server breakdown, maintenance shutdown, breakdown of communication services or inability of the Bajaj Financial Securities Limited or its subsidiaries and associated companies to provide the data. In no event shall the Bajaj Financial Securities Limited or its holding and associated companies be liable for any damages, including without limitation direct or indirect, special, incidental, or consequential damages, losses or expenses arising in connection with the data provided by the Bajaj Financial Securities Limited or its holding and associated companies.
ADDITIONAL DISCLAIMER FOR U.S. PERSONS
Bajaj Financial Securities Limited is not a registered broker-dealer under the U.S. Securities Exchange Act of 1934, as amended (the"1934 act") and under applicable state laws in the United States. In addition, Bajaj Financial Securities Limited is not a registered investment adviser under the U.S. Investment Advisers Act of 1940, as amended (the "Advisers Act" and together with the 1934 Act, the "Acts), and under applicable state laws in the United States. Accordingly, in the absence of specific exemption under the Acts, any brokerage and investment services provided by Bajaj Financial Securities Limited, including the products and services described herein are not available to or intended for U.S. persons. This email message does not constitute an offer or invitation to purchase or subscribe for any securities or solicitation of any investments or investment services and/or shall not be considered as an advertisement tool. "U.S. Persons" are generally defined as a natural person, residing in the United States or any entity organized or incorporated under the laws of the United States. US Citizens living abroad may also be deemed "US Persons" under certain rules.
ADDITIONAL DISCLAIMER FOR CANADIAN PERSONS
Bajaj Financial Securities Limited is not a registered adviser or dealer under applicable Canadian securities laws nor has it obtained an exemption from the adviser and/or dealer registration requirements under such law. Accordingly, any brokerage and investment services provided by Bajaj Financial Securities Limited, including the products and services described herein are not available to or intended for Canadian persons.
This mailer and its respective contents do not constitute an offer or invitation to purchase or subscribe for any securities or solicitation of any investments or investment services.
DISCLAIMER FOR REPORT DISCLOSURES UNDER THE PROVISIONS OF SEBI (RESEARCH ANALYSTS) REGULATIONS 2014 (REGULATIONS)
Bajaj Financial Securities Limited ("Bajaj Broking" or "Research Entity") is regulated by the Securities and Exchange Board of India ("SEBI") and is licensed to carry on the business of broking, depository services and related activities.
This Report has been prepared by Bajaj Financial Securities Limited in the capacity of a Research Analyst having SEBI Registration No. INH000010043 and distributed as per SEBI (Research Analysts) Regulations 2014. This report does not constitute an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. The information contained herein is from publicly available data or other sources believed to be reliable. This report is provided for assistance only and is not intended to be and must not alone be taken as the basis for an investment decision. The user assumes the entire risk of any use made of this information. Each recipient of this report should make such investigation as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document (including the merits and risks involved), and should consult his own advisors to determine the merits and risks of such investment. The investment discussed or views expressed may not be suitable for all investors.
This information is strictly confidential and is being furnished to you solely for your information. This information should not be reproduced or redistributed or passed on directly or indirectly in any form to any other person or published, copied, in whole or in part, for any purpose. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject Bajaj Financial Securities Limited and associates / group companies to any registration or licensing requirements within such jurisdiction. The distribution of this report in certain jurisdictions may be restricted by law, and persons in whose possession this report comes, should observe, any such restrictions. The information given in this report is as of the date of this report and there can be no assurance that future results or events will be consistent with this information. This information is subject to change without any prior notice. Bajaj Financial Securities Limited reserves the right to make modifications and alterations to this statement as may be required from time to time. Bajaj Financial Securities Limited or any of its associates / group companies shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report. Bajaj Financial Securities Limited is committed to providing independent and transparent recommendation to its clients. Neither Bajaj Financial Securities Limited nor any of its associates, group companies, directors, employees, agents or representatives shall be liable for any damages whether direct, indirect, special or consequential including loss of revenue or lost profits that may arise from or in connection with the use of the information. Our proprietary trading and investment businesses may make investment decisions that are inconsistent with the recommendations expressed herein. Past performance is not necessarily a guide to future performance .The disclosures of interest statements incorporated in this report are provided solely to enhance the transparency and should not be treated as endorsement of the views expressed in the report. The information provided in these reports remains, unless otherwise stated, the copyright of Bajaj Financial Securities Limited. All layout, design, original artwork, concepts and other Intellectual Properties, remains the property and copyright of Bajaj Financial Securities Limited and may not be used in any form or for any purpose whatsoever by any party without the express written permission of the copyright holders.
We offer our research services to clients as well as our prospects. Though this report is disseminated to all the customers simultaneously, not all customers may receive this report at the same time. We will not treat recipients as customers by virtue of their receiving this report.
Bajaj Financial Securities Limited and its associates, officer, directors, and employees, research analyst (including relatives) worldwide may: (a) from time to time, have long or short positions in, and buy or sell the securities thereof, of company(ies), mentioned herein or (b) be engaged in any other transaction involving such securities and earn brokerage or other compensation or act as a market maker in the financial instruments of the subject company/company(ies) discussed herein or act as advisor or lender/borrower to such company(ies) or have other potential/material conflict of interest with respect to any recommendation and related information and opinions at the time of publication of research report or at the time of public appearance. Bajaj Financial Securities Limited may have proprietary long/short position in the above-mentioned scrip(s) and therefore should be considered as interested. The views provided herein are general in nature and do not consider risk appetite or investment objective of any particular investor; readers are requested to take independent professional advice before investing. This should not be construed as invitation or solicitation to do business with Bajaj Financial Securities Limited.
Bajaj Financial Securities Limited or its associates may have received compensation from the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates may have managed or co-managed public offering of securities for the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates may have received compensation for investment banking or merchant banking or brokerage services from the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates may have received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report. Research analyst or his/her relative or Bajaj Financial Securities Limited’s associates may have financial interest in the subject company. Bajaj Financial Securities Limited, its associates, research analyst and his/her relative may have other potential/material conflict of interest with respect to any recommendation and related information and opinions at the time of publication of research report or at the time of public appearance.
Research analyst has served as an officer, director or employee of subject Company: No
Bajaj Financial Securities Limited has financial interest in the subject companies: No
Bajaj Financial Securities Limited’s Associates may have actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report.
Research analyst or his/her relative has actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report: No
Bajaj Financial Securities Limited has actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report: No
Subject company may have been client during twelve months preceding the date of distribution of the research report.
There were no instances of non-compliance by Bajaj Financial Securities Limited on any matter related to the capital markets, resulting in significant and material disciplinary action during the last three years. A graph of daily closing prices of the securities is also available at NSE
ANALYST CERTIFICATION
The analyst for this report certifies that all of the views expressed in this report accurately reflect his or her personal views about the subject company or companies and its or their securities, and no part of his or her compensation was, is or will be, directly or indirectly related to specific recommendations or views expressed in this report.
RISK DISCLOSURE ON DERIVATIVES
SEBI study dated January 25, 2023 on “Analysis of Profit and Loss of Individual Traders dealing in equity Futures and Options (F&O) Segment”, wherein Aggregate Level findings are based on annual Profit/Loss incurred by individual traders in equity F&O during FY 2021-22.
BROKERAGE DISCLAIMER
All leveraged intraday positions will be squared off on the same day. There is no restriction on the withdrawal of the unutilised margin amount. Brokerage will not exceed the SEBI prescribed limit. Visit : Pricing
MTF
As subject to the provisions of SEBI Circular CIR/MRD/DP/54/2017 dated June 13, 2017, and the terms and conditions mentioned in the lights and obligations statement issued by the TM (if applicable).
US INVESTING
International investment is not supervised by any regulatory body in India. Thus, any claim or dispute relating to such investment or enforcement of any agreement/contract /claim will not be under laws and regulations of the recognized stock exchanges and investor protection under Indian Securities Law. The account opening process will be carried out on Vested platform and Bajaj Financial Securities Limited will not have any role in it.
IPO
This should not be construed as soliciting investment. Investors’ discretion is required. Kindly consult your financial expert before investing. No need to issue cheques by investors while subscribing to IPO. Investments in securities markets are subject to market risks, read all the related documents carefully before investing.
SCREENERS
Screeners is not Exchange-approved products and any disputes related to the same will not be dealt on the Exchange platform.
SECURITIES
Securities quoted are exemplary and not recommendatory.
IPV
Account would be open after all procedure relating to IPV and client due diligence is completed.
IMAGES
The images used are only for representation purpose. Proper due diligence has been done for the images and the image is not of any artist. The same is captured from royalty free sites.
THIRD PARTY PRODUCT DISCLAIMER
Bajaj Financial Securities Limited is a distributor for Non-Broking Products/Services such as Mutual Funds, Mutual Funds SIP, IPO, Bonds, Insurance, PMS, Global Investing, any other third-party products/services. These are not Exchange Traded Products, and we are only acting as distributors. All disputes with respect to the distribution activity, would not have access to SCORES/ODR, Exchange investor redressal forum or Arbitration mechanism. Please refer to the detailed disclaimer for Third-Party Products.
As per SEBI circular no. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/84 dated June 08, 2023, Stockbrokers are required to upstream the entire client funds lying with them to the Clearing Corporation. Based on client’s request the funds’ release request must be placed with the Clearing Corporation. Based on the internal process and cut-off timelines of the Clearing Corporation the funds will be released to the Stock Broker. In view of this new process, as specified by the regulatory and the cut-off time of Clearing Corporation/Banks processing the funds, Bajaj Financial Securities Limited cannot commit the exact time for releasing funds payout to its client. Clients are requested to note that, Bajaj Financial Securities Limited will not be responsible for any inconvenience caused to clients due to delay in release of funds payout, including fines, delayed charges, defaults, etc.
