HDFC Securities has denied rumors circulating on social media and WhatsApp suggesting that the brokerage firm will suspend its franchise business citing compliance issues. In a statement released Wednesday, the company said the decision to suspend new partnerships was a strategic move taken earlier this year to streamline operations and improve service quality.
Meanwhile, shares of its parent HDFC Bank were trading 1.23 per cent or Rs 22.30 lower at Rs 1,790 as of 2:19 pm. The stock remains a hot topic amid unraveling, reflecting the market’s interest in the company’s overall position.
The company stressed that the suspension was unrelated to compliance concerns and reiterated its commitment to growth across all business areas, including HDFC SKY, its low-cost brokerage platform, and HDFC TRU, its investment advisory service. He stated it again.
HDFC Securities also reaffirmed the confidence of its customers and stakeholders, noting the company’s strong performance and focus on providing quality financial solutions.
