| Financial Services - Broking and Merchant Banking | Equity and commodity broking, currency derivatives, merchant banking, mutual fund distribution, research analytics, and advisory. | Strong regulatory registrations, established client base, extensive branch network, and diversified financial services portfolio. | Retail investors, HNIs, mutual funds, insurance companies, banks, corporate clients (B2B and B2C). | Merchant banking services, proprietary trading, and advisory segments offer higher margins. | 247 | 100 | Brokerage commissions, merchant banking fees, distribution commissions, research subscriptions, and advisory fees. | Fee and commission-based on transaction volumes and managed assets; some fixed fees for advisory services. | Rising retail participation in capital markets, increased merchant banking mandates, and technology-enabled trading. | Arihant Capital Markets, Arihant Futures and Commodities, Arihant Financial Services |
