HDFC Securities to gain significant market share with HDFC Sky: Dhiraj Relli

economictimes.indiatimes.com:

Dhiraj Relli, MD & CEO, HDFC Securities, says “we are getting almost 2.5 to 3 million new demat account holders every month, so we have a complete digital journey in place. A customer can open an account in less than five-six minutes.”

With new apps coming, are broking fees going to go down further?
The pricing in the broking industry is already at rock bottom. From here, with the compliance and other costs increasing, we believe that the pricing will go up only.

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So digital expansion is coming. What are the expected plans for HDFC Sky?
Our plan is to onboard more and more customers. We are getting almost 2.5 to 3 million new demat account holders every month, so we have a complete digital journey in place. A customer can open an account in less than five-six minutes. That will help us onboard many more customers, and we will be able to serve millennials, GenZ as well as new age customers who are looking forward to empowering themselves.

What kind of market share is the company commanding currently?
We have been largely catering to the investors. In the cash segment, we have almost double digit market share in the retail space. In derivatives, we have been having a low market share because our thrust was always to cater to the investors and not so much to the traders. With this platform, we strongly believe that we have a compelling proposition for trading communities also and millennials, GenZ, who are looking forward to a more short term intraday and trading activities.
So we