| Financial Services - Capital Markets | Stockbroking, market making, underwriting of primary issues, corporate advisory, merger & acquisition advisory, and investment services. | Specialized SME market expertise, long-standing regulatory registrations, and robust relationships with exchanges and investors. | B2B and B2C; serves SMEs, retail investors, and corporates requiring capital market access and advisory. | Advisory and underwriting services yield higher margins compared to trading operations. | 77 | 100 | Fee-based revenue from advisory, brokerage commissions, underwriting fees, and capital gains from investments. | Transaction fees, underwriting commissions, advisory retainer fees, and profit from proprietary trading. | Increasing SME listings, expanding investor participation, and strengthening capital market activities in India. | |
