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ICICI Securities reports a profit growth of 70% in Last Year (Q1FY21)

With a whopping client base of 5 million, ICICI Securities witnessed robust earnings with revenue growth of 41% mainly driven by unmatched performance in the core equity business through ICICI Direct.

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ICICI Securities reports a profit growth of 70% in Last Year (Q1FY21)

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  1. According to Vijay Chandok, Managing Director and CEO of ICICI Securities, "We had an eventful quarter in which we saw increased market participation by all players –retail, HNIs and institutional, resulting in strong growth in our core equities, as well as wealth and investment banking business." Considering this spectacular performance, CLSA up kept their buy rating on the stock and increased their FY21CL EPS estimates 18% to factor in strong Q1FY21 earnings. The target price was also raised from Rs. 450/ share to Rs. 625/ share. ICICI Direct is a retail trading and investment arm of ICICI Securities, the biggest retail stock broker firm in India and offers a wide spectrum of investment choices for both retail and institutional customers. ICICI Securities is subsidiary of ICICI Group one of the leading names in the areas of financial tools and services. ICICI Securities offers 'online trading and investment' services to more than 2 million customers through ICICI Direct (ICICIDirect.com). In the December month of 2020, ICICI Securities (I-Sec) launched a new revolutionary plan with the name “ICICI Direct Neo –Zero brokerage plan” for its clientele base. The ICICI Direct Neo Brokerage Plan offers Zero brokerage trading in futures and Rs. 20 per order brokerage for trading in other categories such as options, currency futures & options, equity intraday, and commodity futures & options. ICICI Direct Neo Brokerage Plan – Charges

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