The National Stock Exchange (NSE) has decided to reduce charges across equity cash and derivatives segments by 1 per cent from April 1 onwards.
The reduction in transaction charges will hit annual revenues by Rs 130 crore, the country’s largest stock exchange said after its board meeting held on Monday. The bourse had Rs 8,330 crore revenue from transaction charges in the first nine months of this financial year—a 16 per cent jump year-on-year.
ALSO READ: 614 stocks freeze in lower circuit amid SmallCap rout; Tata Invest sinks 5%
The board of NSE has also approved the sale of its digital technology business NSEIT, along with its subsidiaries, to Investcorp, a US-based firm managing alternative investments. The deal is expected to be completed by the end of this month for Rs 1,000 crore.
The decision to sell non-core business follows the recommendation of the Mahalingam Committee, which was appointed by the Securities and Exchange Board of India (Sebi).
NSE will also be exiting from non-core education businesses, as announced by the exchange in November 2022.
First Published: Mar 12 2024 | 5:41 PM IST