New Delhi, Feb. 10 -- Diversification of revenue streams has emerged as a critical buffer for broking firms amid rising regulatory and tax-related headwinds, according to a report by Crisil Ratings.
The assessment comes in the backdrop of a proposed increase in securities transaction tax (STT) on derivatives in the union Budget 2026-27 and a series of regulatory changes introduced by the Securities and Exchange Board of India (SEBI).
Crisil Ratings said recent policy measures aimed at curbing speculative activity and enhancing investor protection have led to a sharp decline in trading volumes.
Average daily turnover across capital market segments fell by about 25 per cent in the second half of the previous fiscal year, and despite a part...