| Financial Brokerage and Advisory | Equity and derivatives brokerage, institutional equity research, and investment advisory services. | Strong client relationships, empanelled with major institutions, and proprietary research capabilities. | Both retail investors and institutional clients including banks and mutual funds (B2B and B2C). | Equity research and institutional brokerage commands higher margins. | 33 | 100 | Earns through brokerage commissions, advisory fees, and trading services. | Commission-based on trades, advisory fees on services provided. | Increasing institutional client base and expansion in derivatives market. | |
