HDFC Securities, which has a one per cent market share in active retail clients, launched its new app called HDFC Sky, offering trading in stocks, ETFs, derivative products, and investments in mutual funds on one platform.
With the launch, the broker will be competing with low-price broking services with a flat pricing of Rs 20 per all intraday trades and delivery. Speaking at the launch, Dhiraj Relli, chief executive officer of HDFC Securities, said that the brokerage firm wants to increase the active derivative traders through the app, specifically targeting tech-savvy, new-age investors.
Sandeep Bhardwaj, chief operating and digital officer at HDFC Securities, said apart from being an all-in-one app for various asset classes, it will provide free in-house research, personalised watchlists with tags, and educational resources. However, the current clients of HDFC Securities will have to shift to HDFC Sky if they wish to use the app.
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