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Kotak Securities MD, CEO Shripal Shah on Union Budget
This story was originally published at 12:49 IST on 1 February 2026
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MUMBAI - Shripal Shah, managing director and chief executive officer, Kotak Securities, said the following on the Union Budget for 2026-27 (Apr-Mar), presented in the Lok Sabha by Finance Minister Nirmala Sitharaman on Sunday:
The steep increase in STT on futures and options, coming on top of the last year's hike, is likely to raise impact costs for traders, hedgers, and arbitrageurs. This could cool derivative activity and lead to a reduction in volumes. The intent appears to be volume moderation rather than revenue maximisation, as any potential revenue gain could be offset by lower derivative volumes. End
Compiled by Shumaila Firoz
Filed by Akul Nishant Akhoury
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