Paisa Vaisa with Anupam Gupta Don't Follow FRENZY, Follow FUNDAMENTALS: The Only Investment Mantra You Need to Know
Nov 3, 2025
Shripal Shah, the Managing Director and CEO of Kotak Securities, shares valuable insights into the Indian financial market landscape. He warns that over 90% of individual traders face losses in the F&O segment, emphasizing the importance of fundamentals over market frenzy. Shah highlights how equity investing is becoming akin to fixed deposits and introduces the underutilized Margin Trading Facility with a competitive 9.69% interest rate. He encourages young investors to research wisely and stay invested long-term, adapting to the evolving market dynamics.
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Derivatives Were A Retail Money-Loser
- Over 90% of individual traders lose money in F&O, prompting regulator action and reduced speculative activity.
- Shripal Shah says this cleanup reduced monthly F&O participants from ~5 million to ~3 million, improving market quality.
Derivatives Still Dominate Revenue Pools
- The industry's revenue pool remains driven by derivatives despite low per-order fees because order volumes are huge.
- Some discount brokers derive 75–80% of revenue from derivatives, skewing their business risks.
Pick A Full-Service, Trusted Broker
- Choose a broker with a reliable platform, trusted information, and full financial product coverage.
- Consolidate equity, derivatives, mutual funds, IPOs and bonds to simplify your financial journey.
