Sharekhan is one of India’s top three stockbrokers, with a customer base of over 2 million. Sharekhan’s transformation from an SSKI Group company to a BNP Paribas affiliate had piqued the interest of both investors and traders.
It is India’s first stockbroker to launch an internet trading platform, sharekhan.com. Stock quotations, stock market news alerts, fundamental and analytical research reports on equity, mutual fund investments, IPOs, and other products and services are available through the best investment platform.
Investors and traders can choose the optimal plan for their needs thanks to the customer-centric account types. The stock-broking sector in our country has seen many ups and downs, and the SEBI has implemented severe procedures that have made compliance and reporting requirements much stricter and transparent.
The benefit of these restrictions has been considerable since investors now have more trust in these companies and their money is guaranteed to be protected.
We will highlight exclusively to our readers in this Sharekhan review article that will serve as their complete manual and will allow you to study the products and services offered by Sharekhan – by BNP Paribas from its inception to its current status and upcoming launch, including the brokerage and other fees they charge for trading and investing with them.
We’ll also go through the benefits and drawbacks of investing and trading with the world’s largest stock brokerage firm, as well as the breadth of other products and services they provide aside from stockbroking.
Shripal Morakhia founded Sharekhan in the year 2000 as part of the SSKI stockbroking-investment banking enterprise. Shripal was involved in the start-up of a variety of businesses, including a stockbroking and investment banking firm, a toy library, the world’s largest dinosaur park, and a massive multimedia Ramleela.
However, his money and ever-changing ideas make him hesitant to spend for more than six years in a single company, which is why, in 2007, he sold an 85 percent ownership in Sharekhan to Citi Venture Capital International (CVCI) and the SSKI to IDFC Bank for Rs. 825 crores.
IDFC and Samara Capital then purchased shares in Sharekhan. Barings Asia purchased a 12 percent stake in Sharekhan in 2008. After ICICI Direct, Sharekhan became the second largest retail rich brokerage firm in 2015.
In the same year, Citi Venture (CVCI) began seeking a new buyer for Sharekhan, which was valued at Rs. 3000 crores and any significant investor’s attention was on Sharekhan as the industry’s leading brokerage firm.
Finally, in 2016, Sharekhan was bought by BNP Paribas S.A. and became a subsidiary firm under BNP Paribas’ digital banking and investment services sector, servicing almost 3 million individual clients across four countries: India, Germany, Spain, and Austria. As a result, Mr. Jaideep Arora, a director who has been with Sharekhan since its inception, has been named the new CEO, replacing Mr. Tarun Shah, who has announced his retirement.
Since its inception, Sharekhan’s journey has been rather intriguing, with numerous share buys and sales. In some ways, this has helped Sharekhan keep connected to a big network of large investors, which is one of the reasons why Sharekhan has such a large presence not only in India but also across the globe.
In 1860, BNP Paribas became the first foreign bank to establish a presence in India. It has more than eight locations in India’s major cities.
Corporate banking, institutional banking, wealth management, and transaction banking are all services provided by the financial services provider. BNP has a foothold in home finance, asset management, fleet management, and securities services thanks to strategic cooperative agreements.
Sharekhan, for example, has offices in 1850 locations across India, with branches and franchisees in over 550 cities. Sharekhan’s customer base ranges from retail to corporate to institutional investors and traders, as well as NRIs. Its website, sharekhan.com, offers a variety of services and products, including stock and derivatives trading and investing through the NSE and BSE, as well as commodities trading through the MCX and NCDEX.
They also provide IPOs, mutual funds, depository services with Demat accounts, stock alerts, ideas and tips, and equity information through analytical studies, among other things.
1. Sharekhan is a full-service retail broker that caters to retail investors. It is one of India’s largest full-service retail brokers.
2. It was the first company in our country to provide online trading through its website Sharekhan.com, which altered the investor’s attitude toward trading and investing because internet trading eliminated a lot of paperwork and made trading a lot easier and faster.
3. Their brokerage plans are created with different sorts of users’ demands in mind so that they can get the best plan for their needs at the greatest price.
4. Sharekhan offers a variety of accounts that cater to the individual demands of different customers, including Classic, First Step, Trade Tiger, and Platinum Circle accounts, all of which contain Portfolio Management Services (PMS).
5. Their research and advisory team also offers free online classroom training, webinars, and workshops to help investors and traders learn more about market trading and investing.
In the next months, Sharekhan is expected to start a separate discount broking firm to capitalize on their industry experience and skills to grab the ever-growing discount broking market. The following are descriptions of the company’s products and services, as well as their important features.
1. Products: The big retail brokerage firm offers a variety of products, including equities, derivatives, commodities, currency, futures and options trading, mutual funds, and systematic investment plans (SIP). They do not, however, provide insurance-related services or products, nor do they offer Forex trading.
2. Services: By combining all of the services that a conventional trading firm may offer, Sharekhan is regarded as the best in terms of the services it provides to its clients and traders. This comprises services like Demat, Intraday, Trading, IPO, PMS, Trading Institution, and stock recommendations, among others.
3. Sharekhan’s PatternFinder Tool examines a certain stock and its pattern to provide significant insight into its future performance.
4. Research and Advisory: They offer offline and online advisory and research services, as well as stock recommendations, news alerts, monthly reports, and analytical and fundamental study reports on business stocks, and are regarded as the best among all brokerage firms. The aforementioned services are supplied to its investors and traders at no cost. They also offer a robot-based advice tool and an offline client representative for tailored support.
5. TradeTiger: This is a high-speed trading terminal that allows regular traders to swiftly place and execute orders. It also provides real-time updates and information on the same terminal, making trading easier for them.
6. Sharekhan App: Whether you’re placing an order, keeping track of your orders and saving stock orders, or monitoring your portfolio, it’s all done through one app that’s both user-friendly and customizable to match your needs.
7. Sharekhan Mini Review: It has a variety of functions, including the ability to track market movements and trade on several exchanges. Users can also invest in mutual funds and transfer funds through this low-bandwidth website.
8. Sharekhan Dial-n-Trade: This platform provides toll-free numbers that allow investors and traders to take orders over the phone. It has a three-step security procedure to follow.
This stockbroking organization offers far more benefits than drawbacks, and it comes highly recommended for any regular or frequent investor or trader.
1. They offer a variety of trading platforms and account kinds to meet the needs of different sorts of users.
2. They offer free DP and Fund Transfer services.
3. Investors and traders can learn about the market and stock movements through their online classroom training, webinars, and workshops. It is the finest starting point for newcomers. They don’t charge for this type of instruction.
4. Fixed deposits can be used as collateral for F&O trading.
5. The more active you are as a trader, the lower the brokerage prices offered by Sharekhan. It is strongly recommended for active investors and traders to take advantage of minimal brokerage fees while receiving top-notch service.
6. All types of investors and traders can benefit from their online and offline advising services.
7. They have a large presence with several locations, which allows investors to get answers to their questions in person due to the proximity of their offices.
1. Because their brokerage fees are based on a percentage of each transaction, they are thought to be highly expensive.
2. They do not provide 3-in-1 accounts for Demat, Trading, and Banking.
3. They have a minimum trading charge cap, so if you trade for less than the required quantity, you are likely to lose money due to the application of minimum trading costs.