Key points in SEBI mandate
—> No Daily expiries (One expiry per week/exchange)
—> Contract size to triple
—> Calendar spread margin
First two points would negatively impact the F&O participation from where the major revenue comes from.
This will prove to be a double whammy from brokers stocks. First due to lower EPS, second due to P/E contraction.
Assuming no P/E contraction, since Angel One’s PE is already low, I am a expecting 20-30% correction from here.
References:
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