The NSE and BSE have revised their transaction charges, with the new rates taking effect from Tuesday, October 1, 2024. NSE introduced updated transaction charges for both the cash and derivatives segments, while BSE announced changes for Sensex and Bankex options contracts within the equity derivatives segment.
Changes in Transaction Fees
In the cash market, NSE will impose a transaction fee of Rs.2.97 per side for every lakh of traded value, while for equity futures, the fee will be Rs.1.73 per side per lakh of traded value. For equity options, the transaction fee will be Rs.35.03 per side per lakh of premium value.
For NSE currency futures, the fee is set at Rs.0.35 per side per lakh of traded value, and for currency options and interest rate options, it will be Rs.31.10 per side per lakh of premium value.
For Sensex and Bankex options contracts, the transaction fee has been revised to Rs.3,250 per crore of premium turnover value.
There will be no changes to transaction charges for other equity derivatives contracts. BSE will continue charging Rs.500 per crore of premium turnover for Sensex 50 and stock options, with no fees for index and stock futures.
Impact on stocks
The revised transaction charges will mainly impact stocks tied to the Sensex and Bankex indices, affecting companies like Reliance Industries, HDFC Bank, and ICICI Bank. Discount brokerage firms such as Zerodha and Angel One could also face challenges, as the uniform fee structure removes their earlier volume-based advantages.
Here are a few brokerages listed on the Indian stock market that would experience the impact of these changes:
Angel One Limited
With a market capitalization of Rs.24,698 crore, the share price of Angel One Limited closed at Rs.2,716.00 per share on Thursday, rising 4.46 percent from its previous close.
Angel One Ltd offers zero brokerage on equity delivery trades, while intraday and futures/options trades incur a fee of either Rs.20 per order or 0.25 percent of the transaction value, whichever is lower.
In Q1 FY25, the company reported a 74 percent year-on-year increase in revenue to Rs.1,405 crore, while net profits rose by 33 percent to Rs.293 crore.
5Paisa Capital Ltd
With a market capitalization of Rs.1,669 crore, the share price of 5Paisa Capital Ltd closed at Rs.540.00 per share on Thursday, falling 1.7 percent from its previous close.
5Paisa Capital Ltd provides free equity delivery trading and charges Rs.20 for intraday trades.
In Q1 FY25, the company reported a 20 percent year-on-year increase in revenue to Rs.102 crore, while net profits rose by 33.33 percent to Rs.20 crore.
Motilal Oswal Financial Services Ltd
With a market capitalization of Rs.43,006 crore, the share price of Motilal Oswal Financial Services Ltd closed at Rs.715.00 per share on Thursday, falling 3.7 percent from its previous close.
Motilal Oswal Financial Services Ltd charges 0.50 percent for equity delivery and a minimum fee of Rs.20 or 0.25 percent of the transaction value for intraday trades.
In Q1 FY25, the company reported a 54 percent year-on-year increase in revenue to Rs.2,312 crore, while net profits rose by 68 percent to Rs.884 crore.
IIFL Securities Ltd
With a market capitalization of Rs.11,451 crore, the share price of IIFL Securities Ltd closed at Rs.370.55 per share on Thursday, falling 2.17 percent from its previous close.
IIFL Securities Ltd, like Motilal Oswal, charges 0.50 percent for equity delivery and Rs.20 for intraday trades.
In Q1 FY25, the company reported a 57 percent year-on-year increase in revenue to Rs.640 crore, while net profits rose by 143 percent to Rs.182 crore.
ICICI Securities Ltd
With a market capitalization of Rs.28,146 crore, the share price of ICICI Securities Ltd closed at Rs.869.35 per share on Thursday, falling 2.3 percent from its previous close.
ICICI Securities Ltd charges a brokerage fee of 0.55 percent for equity delivery and a flat rate of Rs.20 per order for intraday trading.
In Q1 FY25, the company reported a 76 percent year-on-year increase in revenue to Rs.1,641 crore, while net profits rose by 95 percent to Rs.527 crore.
Written by – Siddesh S Raskar
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