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Zerodha, Groww get nod to offer US stocks

Investing in leading US companies could soon become much easier for Indian retail investors. Major brokerage platforms Zerodha, Groww, Angel One and Upstox have received regulatory approval to offer international investing services through Gujarat’s GIFT City, paving the way for direct access to US stocks and global markets.

The approvals have been granted by the International Financial Services Centres Authority (IFSCA), the regulator overseeing GIFT City. The move is being seen as a significant step towards making global investing more accessible to Indian investors who are increasingly looking beyond domestic markets for diversification and growth opportunities.

According to reports, the new services are expected to be rolled out over the next two to three months after the brokerages complete technology integration, testing and compliance requirements.

Under the proposed framework, Zerodha and Upstox will operate as broker-dealers, while Groww and Angel One will function under the Global Access Provider (GAP) model introduced by GIFT City to facilitate overseas investments. The structure is designed to offer a regulated and cost-effective route for Indians to invest in international equities.

Demand for overseas investing has grown rapidly in recent years as Indian investors seek exposure to global themes such as artificial intelligence, semiconductors, electric vehicles and space technology. Interest has further increased following the listing of high-profile technology companies and growing enthusiasm for AI-driven investments.

Several platforms, including INDmoney, Smallcase and HDFC Securities, already offer access to international markets. However, the entry of India’s largest retail brokerages is expected to significantly expand participation and bring global investing to a much wider audience.

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Corporate

Angel One Q3 profit dips to ₹269 crore

Angel One, one of India’s leading retail brokerage firms, reported a decline in net profit for the third quarter ending December 31, 2025. The company’s consolidated profit after tax (PAT) fell 4.5 per cent to ₹269 crore, compared with ₹281.5 crore in the same period last year. The drop was mainly due to rising operating costs, including higher employee expenses and charges from employee stock ownership plans (ESOPs).

Despite the dip in profit, Angel One posted growth in its overall revenue. Total income for the quarter rose about 5.8 per cent to ₹1,338 crore from ₹1,264 crore a year earlier. The revenue increase was driven by higher interest income as well as fees and commission earnings from its brokerage and related services.

Sequentially, the company showed strong performance. Compared with the previous quarter, PAT rose by around 27 per cent, reflecting improved operational efficiency and better cost management. Earnings before depreciation, amortisation, and taxes (EBDAT) also increased to ₹405 crore, signalling the company’s underlying business strength.

In addition to the quarterly results, the board approved key measures aimed at benefiting shareholders. Angel One announced an interim dividend of ₹23 per share. It also sanctioned a stock split in a 1:10 ratio, meaning each existing equity share of ₹10 face value will be divided into ten shares of ₹1 each. These steps are intended to make shares more affordable and improve liquidity, helping attract a wider base of investors.

Following the announcements, Angel One’s stock saw positive movement in the market, as investors welcomed the combination of revenue growth, sequential profit improvement, and shareholder-friendly corporate actions.

The company continues to expand its client base while strengthening its non-broking businesses, which are expected to support long-term growth. Analysts say Angel One’s efforts to diversify its services, combined with strong market presence, could help the firm navigate challenges in India’s financial markets and maintain steady growth in the coming quarters.

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