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Brokerage firms News
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Several other brokerages have recommended a ‘BUY’ rating for Paytm.
These include Goldman Sachs, Bank of America, Morgan Stanley, Dolat Capital, and ICICI Securities.
Paytm recently posted third-quarter results for fiscal 2022.
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To make it easier to do business, markets regulator Sebi plans to soon introduce a paperless online mechanism for registration as brokerage firms, mutual funds, portfolio managers and other market intermediaries.
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"With increase in distribution and expanded customer base we (will) still be able to reach 65-70 percent level through mobile and website," Relli added.
Expecting the upcoming Budget to stay firm on the fiscal consolidation roadmap, brokerage firms believe that higher allocation can be made for capital expenditure amid a sharp decline in oil subsidy bill.
Shares of brokerage frims gained as much as 4.3 percent after the government on Thursday proposed a slew of measures in order to boost the capital market.
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