The stockbroking and asset management industry has been one of the most rewarded industries amid the Covid-19 pandemic. In FY21, the industry revenues are pegged to have grown between 65-70 percent over FY20. The strong growth was underpinned by robust addition in new customers, according to rating agency Crisil.
At the bourses, stocks of various brokerage houses and AMCs have zoomed nearly 300 percent since March 2020. The shares of Geojit Financial Services, for instance, jumped 290 percent between March 24, 2020, and May 11, 2021, while those of 5Paisa Capital, Emkay Global Financial Services, and Aditya Birla Money zoomed up to 263 percent. In comparison, the Nifty50 index is up 90 percent during the period while the broader Nifty500 index has advanced 99 percent, ACE Equity data show.
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