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HDFC Securities has dismissed rumours circulating on social media and WhatsApp suggesting the brokerage firm is shutting down its franchisee business due to compliance issues. In a statement issued on Wednesday, the company clarified that the decision to halt new partnerships was a strategic move aimed at streamlining operations and improving service quality, made earlier this year.
Meanwhile, shares of HDFC Bank Ltd, its parent entity, were trading at ₹1,790, down by 1.23 per cent or ₹22.30 as of 2:19 p.m. The stock remains in focus amidst the clarification, reflecting market interest in the company’s overall standing.
The company emphasised that the pause is unrelated to compliance concerns and reiterated its commitment to growth across all business lines, including its low-cost broking platform, HDFC SKY, and its investment advisory service, HDFC TRU.
HDFC Securities also noted its strong performance and focus on delivering high-quality financial solutions, reaffirming the trust of its clients and stakeholders.
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