Good numbers by HDFC securities, Angel will likely outperform hybrid peers. Monthly updates have already given glimpses and mkt factored of what to expect.
Key monitorable- MF biz plans, Operating leverage and margin trajectory, Cost of acquisition and activation quality, future commentary.
As of now going is good and everyone is growing in sector, opportunity size expansion seems to be surprising everyone and thus disbelief and shallow cyclical element linked to market performance keeping valuations in fair range.
Read in some WA forwards( can’t authenticate) that Crpto investors in India has exceeded Equity investor base in India - who knows opportunity size here in equity will keep surprising everyone in future as well.
Invested and believer that there is structural shift towards financialization of savings