India’s retail broking industry saw moderate growth in February, with active users increasing to 4.54 crore from the previous month. Leading the pack, Groww added 3.5 lakh new clients in January and 2.65 lakh in February. Notably, Dhan achieved a significant milestone by surpassing 1 million users after gaining 19,000 new users in the last month.
Zerodha and Angel One also contributed to the industry’s expansion, each adding over 10,000 clients in February.
According to NSE data, Groww witnessed a 2.13% month-on-month rise in its user base in February, reaching a total of around 1.27 crore and capturing a market share of 28.03%.
As of the latest update, Groww’s share price surged over 4% to approximately Rs 155.6 per share, with a market cap of Rs 96,117 crore or roughly $10.6 billion.
Emerging brokers like Dhan and INDmoney also saw user base growth, with Dhan crossing the 1 million user mark and achieving a market share of 2.24%.
Source: Entrackr : Latest Posts