Zerodha had a problem and users couldn't see their orders. They say it's okay now.
Zerodha, a brokerage company, had a computer problem on Tuesday. Some people who use it couldn’t see their orders on the platform. They said that after making trades. The orders didn’t show up in their account. This was zerodha technical glitch.
But the company that handles the trading stuff said they fixed the problem.
Zerodha said on X (formerly Twitter), “Sorry, some of you couldn’t see your positions because of a computer problem. It’s fixed now.”
A company called Groww is now the biggest brokerage in India, beating Zerodha. According to NSE data, Groww had 6.63 million active investors in September 2023, while Zerodha had 6.48 million. Groww was started in 2014 and it offers services like financial information, managing investments, helping with taxes, and mutual funds.
At the same time Upstox had 2.19 million people investing, making it fourth. While Angel One was third with 4.86 million investors.
In the financial year that ended in March 2023. Zerodha’s profits and total earnings grew at a slower rate compared to the previous two years. Its net profits increased by 39 percent, reaching ₹2,900 crore. While its revenue grew by 35.5 percent, amounting to ₹6,875 crore in FY23. Following the release of these financial results Nithin Kamath, the founder and CEO of Zerodha. Wrote a detailed post on how the company’s value is actually higher than what was initially estimated.
In his post, Nithin Kamath from Zerodha mentioned that whenever their financial information is disclosed. There’s a lot of guessing about the company’s worth. He pointed out that despite what people might think. Many of these guesses are much more than what the company is actually worth.
Nithin Kamath emphasized that at Zerodha. The team has never been preoccupied with the fluctuating estimated values because these can change with the market situation. He stated that concentrating on these changing values can divert their attention from the main goal. Which is to establish a strong and self-reliant business. He stressed that the primary aim has always been to build a business that doesn’t depend on outside funding.
Nithin Kamath highlighted that the amount of profit earned is often subject to chance. It mostly depends on the current state of the market. He mentioned that businesses involved in stockbroking. The capital market are prone to ups and downs and they carry substantial risks. He pointed out that during bullish market phases. There’s a tendency to believe that market participation and activity will keep increasing indefinitely. However, he emphasized that they constantly discuss the possibility of a significant drop as much as 50%. In their business’s activity and revenue if the markets decline suddenly. He also added that their control over these circumstances is limited. Even a single regulatory change can lead to a significant decline, sometimes by over 50%, in their revenue.
Nithin Kamath expressed that considering the inevitable downturns. They believe that in the long term. They can achieve a growth rate of 10 to 15 percent, based on the size they have currently reached.
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