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In a surprising turn of events, <keyword id="20137391" type="General" weightage="100" keywordseo="Nikhil-Kamath" source="keywords">Nikhil Kamath</keyword>, co-founder of India's biggest discount brokerage firm <keyword id="19913826" type="General" weightage="20" keywordseo="Zerodha" source="keywords" meta.keywordsubtype="org" meta.entityname="Zerodha" meta.hostid="261" meta.entityid="Zerodha">Zerodha</keyword>, left the internet divided by purchasing a house, despite recently having advocated voraciously for renting property in his popular podcast "WTF." Comedian Sonali Thakkar Desai took to X (formerly Twitter) to highlight this U-turn, noting that "Nikhil Kamath has bought a house after advocating for so long about how “renting is the best; only fools would buy property." So let this be a lesson to literally everyone who listened to him or any other finance bro and based their real estate decisions on rubbish reels." She further added that "Mutual funds and Nikhil Kamath's opinions are subject to market risk". Kamath, who has a net worth of $3.1 billion, acknowledged that a lack of control over one's living situation is one of the biggest drawbacks of renting, noting a personal incident where he had to unwillingly and unexpectedly move out of a house. However, he maintained his skeptical attitude toward real estate as an investment, calling it illiquid and arbitrarily priced in the high-end housing market. Kamath also highlighted that due to the sky-scraping costs associated with buying property, like stamp duties of 5-6% on property transactions, it is not economically feasible to frequently buy and sell real estate, as opposed to other asset classes like gold, stocks, and more. On his podcast, Kamath also highlighted that renting does not always translate into a profitable business. "I think nobody makes money from buying and renting a place. You do not have occupancy throughout the year for something like AirBnB. Accounting for inflation and interest rates, the return on this investment is negligible," he said. Kamath's decision has reignited the never-ending debate between renting and buying property. While some social media users pointed out that for the wealthy, the choice between renting and buying is largely inconsequential, others emphasized the immense emotional and stability benefits that came along with homeownership. Kartik Rangappa, who heads Zerodha's Varsity, recently tweeted that it is okay to keep the math and Excel sheets behind buying a house aside if it gives you a sense of security and peace of mind. "Owning a house versus renting is an endless debate often backed by elaborate excel sheet math. Keep the math aside and buy a home if it make you feel secure and gives you peace of mind. Peace of mind &gt;&gt; Excel sheet math," he tweeted on October 16, 2024. There is no denying the fact that owning a house is an expensive affair and a long-term financial commitment as well. Recent report from FICCI and ANAROCK suggest that the average budget range for a 2BHK in Gurgaon is anywhere between Rs 90 lakh and Rs 1.3 crore. Getting a 2BHK in Noida, another prominent satellite town of Delhi, can cost up to Rs 85 lakh to Rs 1.20 crore. As it is, with the central bank not looking to cut rates anytime soon, home loan interest rates are set to remain elevated, meaning higher EMI outflows from your pockets if you are looking to buy a home in the present environment.

Billionaire broker Nikhil Kamath buys home, leaves internet debating on renting vs. owning a house

Zoho to Zerodha, here are the 10 most valuable bootstrapped companies in India

Indian financial services firm <keyword id="19913826" type="General" weightage="100" keywordseo="Zerodha" source="keywords" meta.keywordsubtype="org" meta.entityname="Zerodha" meta.hostid="261" meta.entityid="Zerodha">Zerodha</keyword> made headlines recently for hitting ₹8,320 crore revenue in FY24. However, its CEO and co-founder <keyword id="19923447" type="General" weightage="20" keywordseo="Nithin-Kamath" source="keywords">Nithin Kamath</keyword> says that the company is preparing for a decline in revenue as several regulatory changes are expected to take effect later this year. Kamath, in a blog post, outlined the challenges ahead, which could result in a <keyword id="20168027" type="General" weightage="20" keywordseo="revenue-drop" source="keywords">revenue drop</keyword> of up to 50% as Zerodha faces a combination of stricter regulations and shifting market conditions. <h2>Zerodha braces for revenue drop</h2>One of the main concerns for Zerodha is the new Securities and Exchange Board of India (SEBI) regulation, which will be implemented on October 1, 2024. Kamath expects a 10% dip in revenue as the "true-to-label" circular is enforced. This change will impose stricter guidelines on brokers like Zerodha regarding the kind of financial products they offer, potentially limiting some of their key revenue-generating activities. Another significant factor affecting Zerodha’s future revenue is the ongoing review of index derivatives regulations. Index derivatives, which are a crucial part of Zerodha's business model, could soon face changes that might severely impact the company’s earnings. Kamath estimates that such modifications could reduce earnings by 30-50%. Additionally, with the <keyword id="20930760" type="General" weightage="20" keywordseo="Securities-Transaction-Tax" source="keywords">Securities Transaction Tax</keyword> (STT) set to rise in October 2024, the costs of futures trading could further impact Zerodha’s profitability, though the effect on options trading may be limited. Zerodha is also set to face revenue pressures due to changes in Annual Maintenance Charges (AMC) under the new Basic Services Demat Account (BSDA) thresholds. From October 2024, brokers will only be able to charge full AMC fees from customers with holdings of ₹10 lakhs or more, up from ₹4 lakhs currently. Combined with Zerodha's removal of account opening fees, this is expected to significantly impact their revenue. Yet another challenge comes from Zerodha’s decision to halt payouts from its referral program. The program, which incentivised customers to refer others to the platform, will now only allow payouts to Authorised Persons (AP) registered with exchanges. This new regulation limits the number of people who can refer customers, slowing the firm's growth. <h2>Zerodha's financial results</h2>Despite these looming challenges, Zerodha posted strong financial results for the fiscal year 2024. The firm recorded a 62% increase in profits, reaching ₹4,700 crore, with revenue climbing by 21% to ₹8,320 crore. Traders using Zerodha's platform are also sitting on over ₹1 lakh crore in unrealised profits, largely driven by strong market performance and increased retail participation. However, Kamath also cautioned that the profitability boost in recent years has been fuelled by a bull market, which could reverse at any time. If the market turns, Zerodha, like many other financial service providers, may face significant challenges. To prepare for such an eventuality, the company has built up a strong financial position, with Kamath stating that their net worth now stands at nearly 40% of the customer funds they manage.

Zerodha co-founder Nithin Kamath says bracing for a huge revenue hit even as the company hits ₹8,320 crore revenue in FY24

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<ul><li><keyword id="19399957" type="General" weightage="20" keywordseo="zerodha-users" source="Orion">Zerodha users</keyword> across the country are reportedly facing network issues.</li><li>Users are reportedly unable to view their holdings, execute orders, sell stocks and more.</li><li>Zerodha has acknowledged the issue and has claimed that it is working on restoring services.</li></ul> Zerodha, a popular stock broker and trading app, reportedly stopped working due to technical issues on Monday morning. Users have taken to social media to complain that they are not able to see their holdings, trades and other details on their accounts. Update: As of 12:50 PM, Zerodha has started working. All the services are once again live on the application. <cmsannotation type="cmsannotation" annotationid="Downdetector gets nearly 2,000 reports" comment="subhead" text="Downdetector gets nearly 2,000 reports">Downdetector gets nearly 2,000 reports</cmsannotation> <div type="image" title="Zerodha outage" msid="104999756" hostid="261" caption="&amp;lt;p&amp;gt;Zerodha outage&amp;lt;/p&amp;gt;"></div> Downdetector, a popular website that tracks outages across websites and applications, has reported a massive spike in reports about the Zerodha outage. As of 9:39 AM, there were over 1,700 reports around the Zerodha outage. Zerodha has posted on X (formerly Twitter), confirming the issue and has said that it is working on solving the issue. <div type="twitter" handle="zerodhaonline" handlename="zerodhaonline" favoritecount="0" retweetcount="0" id="1721377390839099642"></div> “Due to an intermittent issue, some of our users are not able to see executed orders in the orderbook. However, the executed orders are updated on the positions page. The holdings and funds page is also not loading. We're working on fixing this and regret the inconvenience caused,” Zerodha said in its post. <cmsannotation type="cmsannotation" annotationid="Users take to social media" comment="subhead" text="Users take to social media">Users take to social media</cmsannotation> Traders and investors looking to start the week with some good investments and trades have taken to social media platforms like X to complain about the outage. <div type="twitter" handle="iGeekVision" handlename="iGeekVision" favoritecount="0" retweetcount="0" id="1721383559544664493"></div> <div type="twitter" handle="amitbhawani" handlename="amitbhawani" favoritecount="0" retweetcount="0" id="1721384758142443779"></div> Some users have also reported that they are unable to close their positions or sell their existing stocks. <div type="twitter" handle="hridayrajshyam" handlename="hridayrajshyam" favoritecount="0" retweetcount="0" id="1721379715200770321"></div> <div type="twitter" handle="Sunil68147115" handlename="Sunil68147115" favoritecount="0" retweetcount="0" id="1721383860574060966"></div> SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/honasa-ipo-how-to-check-allotment-status-of-mamaearth-ipo/articleshow/104945253.cms">Honasa IPO – How to check Mamaearth allotment, GMP, listing date and more</a> <a href="https://www.businessinsider.in/business/auto/news/mercedes-benz-gle-facelift-heres-what-the-luxury-suv-packs-at-96-4-lakh/articleshow/104912934.cms">Mercedes-Benz GLE Facelift – Here’s what the luxury SUV packs at ₹96.4 lakh</a> <a href="https://www.businessinsider.in/business/auto/news/indias-electric-two-wheelers-up-and-running-after-reduced-fame-subsidy-bump/articleshow/104912419.cms">India’s electric two-wheelers up and running after reduced FAME subsidy bump</a>

Zerodha app goes down – company acknowledges issue as users complain on social media

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Brokerage firm <keyword id="19913826" type="General" weightage="20" keywordseo="zerodha" source="keywords">Zerodha</keyword>'s trading app <keyword id="20169505" type="General" weightage="20" keywordseo="kite" source="keywords">Kite</keyword> on Monday suffered another technical glitch, marking the fourth straight month the platform has faced such issues. Several users took to the X platform complaining about the issue and demanding compensation for the "loss". "As expected.. These (intentional) glitches will happen again and again to make sure retail investors lose money in their trades. Discount brokers let you save on brokerage while manipulating their platforms from time to time and giving an excuse of a glitch," a user wrote. "Yes I too am affected, my 5000 profit became Rs 800 and I had to exit at Rs 880. couldn't execute other trades, we deserve compensation," another user said. One more user posted, "Today's morning excitement turned sour thanks to a glitch on #Zerodha. Went long, but couldn't place exit orders due to failed connectivity issues. Had to close hastily to avoid risk. Hits my target of 3705, could've cashed in big today". After multiple complaints from the Zerodha users, the brokerage firm acknowledged the issue. At 10:00 a.m., Zerodha in a post said: "Due to a connectivity issue, some of our users were intermittently facing issues with order placement on Kite. This issue is now resolved. We regret the inconvenience caused." Zerodha last went down on October 31, November 6 and December 4, with multiple users complaining about the technical glitch related to order placement, with orders not being executed and other problems, such as orders not exiting on its Kite app. Last week, several users of the online financial services platform <keyword id="19914160" type="General" weightage="20" keywordseo="groww" source="keywords">Groww</keyword> experienced an hour-long outage, leaving them unable to login and some even asked for compensation. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-february-2024/slidelist/107220575.cms">Samsung to Nothing – The upcoming smartphones hitting Indian market in February</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/oneplus-12-vs-oneplus-12r-heres-whats-different-between-the-two-devices/slidelist/107138750.cms">OnePlus 12 vs OnePlus 12R – What distinguishes the two new smartphones</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-open-review/articleshow/106961567.cms">OnePlus Open review – Feature-packed foldable in a premium design</a>

You Searched For "Zerodha" and got 8 results

Billionaire broker Nikhil Kamath buys home, leaves internet debating on renting vs. owning a house

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Zoho to Zerodha, here are the 10 most valuable bootstrapped companies in India

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Zerodha co-founder Nithin Kamath says bracing for a huge revenue hit even as the company hits ₹8,320 crore revenue in FY24

BI India Bureau

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Zerodha app goes down – company acknowledges issue as users complain on social media

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Zepto to CRED – The top 10 youngest companies making waves in India

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Five out of the top-10 unlisted companies in India slipped in valuation in 2023

Sourabh Jain

Zerodha's Kite app goes down for 4th time in 4 straight months

IANS

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