| Stock Broking and Depository Services | Equity trading, depository participant services, mutual fund distribution | NSE membership and NSDL depository participant status provide regulatory moat and trust. | Retail and institutional investors (B2C and B2B) | Brokerage and fund distribution segments | 3 | 100 | Brokerage commissions, depository fees, mutual fund commissions | Transaction-based brokerage and service fees with some recurring charges | Increasing capital market participation, mutual fund penetration | Daulat Securities Broking Services |
