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Hinduja Global Solutions Results: Latest Quarterly Results & Analysis

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Hinduja Global Solutions Ltd. 11 Nov 2025 12:12 PM

Q2FY26 Quarterly Result Announced for Hinduja Global Solutions Ltd.

BPO/KPO company Hinduja Global Solutions announced Q2FY26 results

  • Total income stood at Rs 1,222.9 crore, up by 3.0% QoQ and 1.3% YoY.
  • Revenue from operations was Rs 1,091.0 crore, up by 3.3% QoQ and 0.4% YoY.
  • Total EBITDA stood at Rs 158.0 crore; Total EBITDA margins for the quarter were 12.9%.

Venkatesh Korla, Global CEO, HGS said: “We have won a significant number of client deals in this quarter, the highest in HGS’s history. We expect these client wins to translate into higher financial performance in the coming quarters.

HGS has embarked on a 5-year transformation program led by an AI enabled solutions to achieve sustainable growth with multiple phases built around margin optimization, GTM refresh, packaged vertical solutions, strategic acquisitions, and prioritization of high-growth sectors such as BFSI, Consumer Products & Retail, and Healthcare. As part of this program, we are targeting an aspirational total EBITDA % of mid-20s in the next 5 years.

We are reinventing ourselves for the era of intelligent experiences, powered by Agentic AI and human talent working together. We recognize that the market is being disrupted… clients want outcomes, not just effort. AI-led service delivery, or what we call Digital Operations, is the new standard - fast, scalable, and value-driven, and our strategy is focused on outcome-based delivery. I am confident that with our talented team, process excellence, forward-looking vision, and relentless execution, HGS is poised not just to navigate disruption, but to lead the intelligent experience revolution.”

Vynsley Fernandes, Whole-time Director, HGS & CEO, NXTDIGITAL, said: “The overall digital media business has ended H1 on a strong note. The broadband business is seeing significant traction on the back of new initiatives and enhanced organisational capabilities. The company has embarked on an ambitious plan to expand its services to 100 new Tier-III towns, leveraging our strong presence via our HITS television services, in those markets. CelerityX, the enterprise business, continues its growth, rounding off H1 with new prestigious logos and an impressive base of 3,000 broadband links for enterprises under management."

Result PDF

BPO/KPO company Hinduja Global Solutions announced Q1FY26 results

  • Total EBITDA stood at Rs 159.7 crore; EBITDA margins for the quarter were 13.5%.
  • Total PAT for the quarter stood at Rs 11.2 crore.
  • Total income stood at Rs 1,187.3 crore.
  • Revenue from operations was Rs 1,056.2 crore.

Venkatesh Korla, Global CEO, HGS said: “HGS’ performance in the first quarter of FY26 were in line with our expectations, amid continued macro-economic volatility, extended client sales cycles, seasonality in key sectors and a client ramp-down due to regulatory reasons. On the positive side, our initiatives to reorient the business for the future are yielding results. Creating an agile and cost-optimized organization has been a key focus area for us over the past few quarters. Our EBITDA margins stood at an encouraging 13.5% in Q1, an expansion of 169 bps on YoY basis, boosted by increasing revenue contribution from offshore geos.

We have accelerated our shift into Digital and Digital Operations, with a rising win rate and strong demand for solutions such as HGS Agent X and AI-led vertical solutions. In our largest market - the Americas, Digital and Digital Operations now constitute nearly 60% of our pipeline, demonstrating positive momentum from our focused investments.

Looking ahead, HGS is evolving to become an intelligent experiences orchestrator for our clients and their customers - integrating technology, data, and human empathy to deliver seamless, personalized, and proactive engagement across every touchpoint. We are sharpening our sector focus on BFSI, Retail & CPG, Healthcare, and the UK public sector, with a priority on mid-market enterprises, even as we invest in building future-ready solutions that empower our clients in an increasingly complex and connected world.”

Vynsley Fernandes, Whole-time Director of HGS and CEO, NXTDIGITAL, said: “It’s been an eventful quarter across the digital media businesses of HGS. The most significant development has been the onboarding of a strong broadband national leadership team across multiple functions - focused on accelerating growth. The enterprise vertical CelerityX continued to add new logos in Q1, delivering over 1,000 links to customers in this quarter - some in incredibly difficult geographies like the Andaman & Nicobar Islands and far reaches of Sikkim. We’ve rolled out our ONEiPTV service to key cities, enhancing our broadband solution with access to more than 25 OTT platforms and an IPTV bouquet of 600 television channels. Our DTV vertical remains stable, ensuring qualitative ARPUs are maintained.”

Result PDF

BPO/KPO company Hinduja Global Solutions announced Q3FY25 results

Financial Highlights:

  • Total Income stood at Rs 1,234.9 crore.
  • Total EBITDA was Rs 234.4 crore; EBITDA margins were 19.0%.
  • Revenue from operations stood at Rs 1,064.1 crore.
  • As on December 31, 2024, Net Cash and Treasury Surplus was Rs 5,152.5 crore.

Business Highlights:

  • Added 13 new logos for digital-enabled CX solutions and seven for HRO/ Payroll Processing. -
  • Expanded our engagement with 55 existing clients for HGS’ core CX and digital solutions (intelligent automation, AI, analytics, digital engagement, cloud and social care, etc).
  • Key deals:
    • Won a significant deal from a BFSI major for IT strategy and consulting services, including cloud services, application development, automation and cybersecurity services, to be delivered out of Bengaluru, India and Kingston, Jamaica
    • Won a combined digital and BPM services contract from a public sector agency in Canada.
    • Signed engagements for digital marketing services for leading Indian brands such as Tata Chemicals and Streax Craft.

Partha DeSarkar, Whole-time Director and Group CEO of HGS said: “HGS continues to strengthen its position as the preferred Digital Experience (DX) transformation partner for clients with our differentiated Applied AI and CX services. Our innovative solutions, such as HGS Agent X™, cloud, social care and analytics & planning, have helped us win significant contracts this quarter; the full benefits of the revenue will be realized in the next fiscal year. In January 2025, HGS launched a new technology services delivery center in Bengaluru, further expanding our capabilities in the digital space.

We are seeing growing demand for offshore delivery services from our existing clients. Our CX hub in Cape Town in South Africa went live in July 2024. In view of the growing demand for South Africa based delivery from clients in the US and UK, we are more than doubling our delivery capability in South Africa over the next few months.

As mentioned earlier, decision-making and signing of new contracts have been slow for most of FY2025. We expect contract awards and signings to gather pace during FY2026. While the increase in offshoring is expected to improve margins in the future, revenue growth may appear muted due to change in billing rates.”

Vynsley Fernandes, Whole-time Director of HGS and CEO of the Media Business said, “HGS' media business, especially across our flagship broadband and digital television verticals, continued to show resilience and achieve challenging objectives -several of which were based on initiatives drawn from H1 of this fiscal. Take the case of broadband - revenue contribution from the high ARPU enterprise segment continues to account for 10% of our top-line for the nine-month period of FY2025 and we’re also seeing traction at OneBusiness, the recently launched commercial broadband business addressing the MSME and SOHO segments. On the retail front, the renewed drive of our integrated product offering of broadband plus digital TV is helping push up ARPUs whilst reducing churn across both segments of DTV & broadband.

The recently announced Union Budget also bodes well for the broadband industry and the entire digital connectivity ecosystem. The government’s objective of providing broadband connectivity to all government secondary schools and PHCs (primary health centers) will benefit the industry as a whole. For us, as a media group with a significant presence in semi-urban and rural markets in India - we see this as another opportunity to leverage our vast footprint, technology solutions and innovation to continue to participate in bridging the digital divide.”

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BPO/KPO company Hinduja Global Solutions announced H1FY25 & Q2FY25 results

Q2FY25 Financial Highlights:

  • Total Income stood at Rs 1,207.6 crore.
  • Total EBITDA was Rs 154.8 crore; EBITDA margins were 12.8%.
  • Revenue from operations stood at Rs 1,087.2 crore.
  • As on September 30, 2024, Net Cash and Treasury Surplus stood at Rs 5,090.2 crore.

H1FY25 Financial Highlights:

  • Total Income stood at Rs 2,426.2 crore.
  • Total EBITDA was Rs 298.3 crore; EBITDA margins were 12.3%.
  • PAT for the period was Rs 111 crore.
  • Revenue from operations stood at Rs 2,179.1 crore.

Partha DeSarkar, Whole-time Director and Group CEO of HGS said: HGS saw a flattish revenue performance in Q2FY25, impacted by ongoing macro-economic pressures and a few challenges in the UK market. However, we are confident of a strong recovery. We are taking multiple steps to sustain growth, including significant investments in sales, optimizing Ops with technology, looking at driving right shoring by selling more offshore engagements to clients and investing in more training for employees with a focus on digital.

In the last six months, we have strengthened our solutions portfolio by foraying into Cybersecurity while enhancing our solutions in AI and analytics, in line with our vision to be the preferred DX Transformation Partner for clients. The sales pipeline for technology-enabled CX services looks promising and we are enthused by the keen interest for our digital services from markets like UK and Australia, in addition to the US market. During the quarter, we signed two major contracts in North America for delivering core technology services. While these contracts will start generating revenues during FY2025, we expect to see full benefits from these contracts during FY2026. Another key development for us has been our UK entity qualifying for the UK G Cloud framework submission, which has given HGS UK access to UK government cloud-based service procurements. We have also expanded our geo presence by opening a new center in Cape Town, South Africa, where we are now supporting two clients with 65 employees.”

Vynsley Fernandes, Whole-time Director of HGS and Head of the Media Business said: “Our media business continued to remain on track in Q2 FY2025, buoyed by a slew of initiatives to cater to rapidly changing customer and consumer preferences. We have consciously pursued growth in the B2B segment in broadband, which provides us with sustainable growth and profitability. This is evidenced in the broadband mix - where 10% of our revenues in H1 were from the enterprise or corporate business segment whilst the newly launched managed services segment already accounts for 5% of our top-line. Another initiative has been the launch of OneBusiness - leveraging our existing network to offer commercial broadband to the MSME and SOHO segments. With the completion of a successful pilot, we now plan to roll it out across key markets. In parallel, we have focused on improving ARPUs or average revenue per user across both the flagship DTV vertical and our broadband business. The priorities for Q3 will be drawn from these initiatives.

We’re also excited as India is scheduled to leapfrog into the era of broadband over satellite. The government initiative of satellite broadband internet is clearly focused on improving access to online public services, infotainment, education, healthcare and a myriad of services for millions of Indians living in rural and underserved areas. As a significant player not just in broadband, but also delivering content via satellite through our HITS platform to rural markets, we look forward to being a part of the growth story ahead, leveraging the technology solutions of HGS.”

Result PDF

BPO/KPO company Hinduja Global Solutions announced Q1FY25 results:

  • Total income stood at Rs 1,218.6 crore, a YoY dip of 2.3%. 
  • Revenue from operations decreased by 3.7% on YoY basis to Rs 1,091.9 crore.
  • Operating EBITDA was Rs 16.7 crore; EBITDA margins for the quarter were 1.5%.
  • Total PAT for the quarter, including discontinued operations, stood at Rs 161.5 crore.
  • As on June 30, 2024, Net Cash and Treasury Surplus stood at Rs 5,177.2 crore. 

Speaking on the results, Partha DeSarkar, Whole-time Director and Group CEO of HGS said: “HGS’ revenues in the first quarter of FY2025 were in line with our expectations, considering the environment of continued macroeconomic volatility and delayed decision-making by some key clients. Profitability in the quarter was adversely impacted due to some one-time costs and we expect our profitability to improve from Q2 FY2025 onwards. During the quarter ended June 2025, we received additional payment towards the sale of the healthcare business resulting in net profit of Rs 218.5 crore shown under Profits from Discontinued Operations.

Our pipeline remains healthy, and we are enthused by the increasing demand for our technology-enabled CX services by both new and existing clients as evidenced by the number of new client engagements signed during FY2025, including larger cross-sell deals, across verticals such as telecom and public sector.

HGS is investing in developing tech offerings to support fast growing sectors like BFSI, retail & consumer, and hitech. Our aim is to help clients future-proof their businesses through digital transformation as Al becomes more mainstream.”

 

Result PDF

BPO/KPO company Hinduja Global Solutions announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Total income stood at Rs 1,257.9 crore, a YoY growth of 7.7%.
  • Revenue from operations stood at Rs 1,098.7 crore, a YoY growth of 2.7%.
  • Operating EBITDA was Rs 66.2 crore, up 82.5% YoY; EBITDA margins for the quarter were 6.0%.
  • PAT stood at Rs 87.9 crore.
  • As on March 31, 2024, Net Cash and Treasury Surplus stood at Rs 5,012.6 crore

FY24 Financial Highlights:

  • Total income stood at Rs 5,087.8 crore, a YoY growth of 1.6%.
  • Revenue from operations stood at Rs 4,615.7 crore, a YoY growth of 2.5%.
  • Operating EBITDA was Rs 355.9 crore, a 45.8% growth YoY; EBITDA margins were 7.7%.
  • PAT stood at Rs 131.2 crore.
  • Total dividend for the year is Rs 7 per share.

Speaking on the results, Partha DeSarkar, Whole-time Director and Group CEO of HGS said: “HGS ended the year with a solid performance in Q4FY24 across both our BPM and media divisions. On YoY basis, HGS’ operating EBITDA has increased by 82.5% while operating EBITDA margins expanded by 260 basis points to 6.0%. The recently acquired entities TekLink and Diversify have done very well. HGS also signed 11 new CX clients in Q4, taking the fiscal count to 41, showcasing strong demand for our technology-led CX services.

The highlight of the full-year performance has been our operating EBITDA growing by 45.8% YoY and our Operating EBITDA expanding by 230 basis points to 7.7%. In March 2024, we incorporated a subsidiary in South Africa to service clients from the UK, US and Australia, and expect to start operations in July 2024.

In the BPM business, we continue to focus aggressively on customizing horizontal services such as AI, automation and cloud etc., to develop industry-specific solutions and drive more value in the key verticals we support. An important part of this approach has been to engage with partners such as Cranium and Form1 Partners to crossleverage our capabilities for the market.

FY2024 was the first full year since the merger with NXTDIGITAL. We are pleased with how the synergies between the two businesses are panning out – including collaborating to develop the NetX application under the recentlylaunched B2B brand CelerityX and co-working on automating various processes to enhance productivity and speed. We are excited about creating more collaborative opportunities between the two entities going ahead.”

Commenting on the Digital Media division’s performance, Vynsley Fernandes, Whole-time Director of HGS and Head of the Digital Media business said, “Our focus in FY2024 was to build on our strong pan-India digital distribution expertise and technology innovation – by driving our retail, commercial and enterprise broadband ventures. Those initiatives, setting the foundation for future growth, are seeing traction. Whilst CelerityX, our enterprise business, continues to make gains on the back of the recently launched OneX unified network-as-aservice solution, our OIL retail broadband customer base has surged by more than 23% over the previous fiscal. That focus on digital inclusion is also reflected in our corporate actions over the last few months – first acquiring a majority stake in leading Mumbai-based ISP Seven Star Broadband and then signing on Triple Play Broadband, a Delhi-based premier ISP as an alliance partner.”

Result PDF

BPO/KPO company Hinduja Global Solutions announced Q3FY24 & 9MFY24 results:

  • 12 new logos were added for digital-enabled CX solutions, and eight for HRO/Payroll Processing.
  • The Digital Media business's new enterprise solutions brand, CelerityX, experienced good traction.
  • NetX, a solution jointly developed by the digital teams of the BPM and Digital Media businesses, was launched.
  • Q3FY24 operating revenue reached Rs 1,203.7 crore, marking a 7.6% YoY increase.
  • Operating EBITDA for Q3FY24 amounted to Rs 115.1 crore, reflecting a substantial growth of 39.9% YoY.
  • 9MFY24 operating revenue stood at Rs 3,517 crore.
  • Operating EBITDA for 9MFY24 reached Rs 289.5 crore, representing a significant 39.3% YoY increase.
  • A one-time cost of Rs 6.53 crore related to property exits was incurred in Q3FY24.
  • Digital Services (comprising Technology Services and Digital Media) contributed 38.4% of 9MFY24 operating revenue.

Speaking on the performance, Partha DeSarkar, Whole-time Director and Group CEO of HGS said: “Despite a challenging global macro-environment, HGS posted a resilient performance in Q3FY24, continuing to build on our efforts to improve our topline and margins. We saw a strong total revenue increase of 11.2% YoY, led by growth in Canada, TekLink and offshore businesses. Operating EBITDA (excluding other income) grew significantly at 39.9% YoY and 18.1% on sequential basis.

During the third quarter, we added 12 new logos and signed multiple opportunities with 22 existing clients for our digital-led CX services. Our engagements reflect the changes in the market toward more complex, technology arbitrage driven deals for both large and mid-market clients. We are aggressively investing in people and technology to support this demand, including in areas such as Cloud, analytics, generative AI, social care, etc.”

Commenting on the Digital Media division’s performance, Vynsley Fernandes, Whole-time Director of HGS and Head of the Digital Media business said, “Our media division saw robust broadband and digital television growth continuing in Q3 - ending the quarter with a customer base of 5.75 mn connected homes across India. At the same time, we’ve operationalised a primary national long distance network of 4,000 kms, with a resilient back-up of around 2,500 kms in progress. This will further accelerate our broadband growth in Tier 2 & 3 cities whilst providing for a high quality of service. CelerityX, our enterprise business has commenced rolling out innovative solutions and has signed on corporates in the retail, BFSI and manufacturing sectors for NetX, India’s first-of-its-kind platform – connecting enterprises with 18,000 Internet Service Providers pan-India. The NetX solution, jointly developed and deployed by the digital teams of BPM and Digital Media businesses, will significantly change the digital networking landscape.”

 

 

Result PDF

BPO/KPO company Hinduja Global Solutions announced Q1FY24 results:

  • Total income stood at Rs 1,247.6 crore, up 6.8% over Q4FY23.
  • EBITDA margins (including Other Income) improved from 11.5% in Q4FY23 to 15.3% in Q1FY24.
  • Digital Services (Technology Solutions and Digital Media) contributed 37.6% of Q1FY24 operating revenue.
  • Buyback offer of 60 lakh shares at Rs 1,700 per share aggregating Rs 1,020 crore through tender offer completed on June 9, 2023.
  • PAT stood at Rs 16.6 crore.
  • As on June 30, 2023, Net Cash and Treasury Surplus stood at Rs 4,962.0 crore

Speaking on the results, Partha DeSarkar, Executive Director and Group CEO of HGS said, “The results for the first quarter of the fiscal have been solid and reflect our transformative ability to adapt in a fast-changing macro business environment.

The BPM business achieved operating revenue growth of 7.0% over Q4FY23, along with significant improvement in margins. Our Canadian and UK businesses have performed well in Q1FY24 and we are seeing strong demand, especially in Canada and offshore/ nearshore business. In July 2023, we formally launched our CX hub in Barranquilla, Colombia, and would shortly be doubling our delivery capacity. While the operational performance has improved, PAT for Q1FY24 is lower than Q1FY23, primarily due to a reduction in other income.

Teklink, the data and analytics business we acquired in Q4FY23, posted a strong performance and delivered revenues of approx. USD 8.8 million with EBITDA margins of around 22.2%. Our cross-selling efforts have resulted in a robust pipeline, including a couple of wins. The technology solutions business recorded revenues of USD 24.3 million in Q1FY24 and we hope to soon achieve an annual revenue run-rate of USD 100 million.

In June 2023, we completed the buyback offer of 60 lakh equity shares for Rs 1,700/share aggregating to Rs 1,020 crore. The buyback initiative was part of the overall program for sharing the value created from the sale of the erstwhile healthcare business with our shareholders.

Looking ahead, though global economic uncertainties persist, we remain cautiously optimistic for the year. We are confident that we can navigate the challenges and seize our opportunities with our technology-led, people-driven approach. We will also continue with our cost optimization initiatives, including further real estate rationalization.”

 

Result PDF

Hinduja Global Solutions announced Q1FY23 Result :

  • Strong revenue growth of 14.1% YoY
  • Net profit of Rs. 732.7 million, a 9x growth YoY
  • Interim Dividend of Rs 5/ share
  • Hon’ble NCLT has directed to convene the meeting of Equity Shareholders on September 02, 2022 for considering approval of scheme of arrangement for acquisition of the media & digital business of NXTDIGITAL Limited
  • Overall revenues for HGS’ digital-enabled CX solutions and HRO/ payroll business stood at Rs. 9,120.46 million, a growth of 14.1% YoY.
  • EBITDA for the quarter was Rs. 384.5 million.
  • Net profit increased to Rs. 732.7 million, a growth of 867.9 % YoY.
  • Capital expenditure for the quarter was Rs. 263 million.
  • As on 30th June, 2022, Net Cash stood at Rs. 33,709 million.
  • Interim dividend of Rs. 5 / share.

Speaking on the results, Partha DeSarkar, Executive Director and Group CEO of HGS said: “HGS has begun FY2023 on a strong note. Revenue for Q1 FY2023 grew by 14.1% YoY to Rs. 9,120.46 million, while we significantly improved PAT. In a challenging economic environment, we are witnessing strong demand for our customer experience (CX) business across all our geographies. Our offshore delivery in Philippines and India is ramping up significantly; we also launched a new delivery center in Mysore in July to cater to the growing demand. Diversify, which we acquired in Q4 FY2022, has performed well and delivered EBITDA margins of 22.4%.

HGS continues to expand our solutions portfolio across RPA, analytics, AI, cloud and social care, etc., to target fastgrowing micro-verticals. Our focus is paying off as we have signed 28 digital-led engagements with clients in the June quarter. Looking ahead, we are focusing on strong revenue growth and improvement in margins. We plan to strengthen our capabilities, set up new centers and hire significantly to support new client wins as we take forward the HGS 2.0 journey.

The proposed buyback of around Rs. 9,750 million, based on the audited results for FY2022, will be announced at a later date upon completion of requisite approvals and in compliance of relevant provisions of the Companies Act, SEBI Listing Regulations and SEBI Buy-back Regulations. We expect this to take place in second half of FY2023.”

Result PDF

Hinduja Global Solutions declares Q4FY22 result:

  • HGS reports Q4 FY2022 results, announces final dividend of Rs. 25/share (On 1:1 post bonus share capital)
  • Q4 FY2022 revenues (Retained Business) stood at Rs. 8,654.6 million, a growth of 13.6 % YoY.
  • Reduction in gross debt of Rs. 2,045 million in Q4 FY2022; As on March 31, 2022, Net Cash stood at Rs. 35,175 million
  • Announces Final Dividend of Rs. 25 /share. (on post 1:1 Bonus Share Capital)
  • Total Dividend of effectively Rs. 245/share (on pre 1:1 Bonus Share Capital)
  • Total Dividend Outgo of around Rs 5,120 million for FY2022
  • Size of Buyback would be around Rs 975 crores. Detailed buyback process shall be announced later.

Speaking on the results, Partha DeSarkar, Executive Director and Group CEO of HGS said: “HGS had an eventful FY2022 – from posting strong revenue growth in all four quarters in an uncertain socio-economic environment, registering our highest-ever quarterly PAT, to divesting the healthcare services business for an almost 3x valuation and enhancing shareholder value.

Our strategy was to continue leveraging the hybrid working model, sustain client win momentum and sell more digital-led services. This focus has helped us achieve significant growth across all business parameters during the year. HGS signed a couple of our biggest deals ever, increased our digital services footprint across clients, ramped up headcount in the UK and launched new solutions such as Cloud Accelerator and HGS Agent X. We also expanded into Australia & New Zealand through the acquisition of Diversify Australia, thus opening up an attractive, highpotential client market.

In Q4, our continuing operations reported robust double-digit revenue growth, led by ramps and new logo wins in the UK and digital businesses. We expect the trend to continue in the coming quarters. HGS completed the acquisition of Diversify Australia in February, and we are pleased with how the integration is shaping up. Since the acquisition, the Diversify team has won 6 new clients while the sales pipeline for FY2023 is looking healthy. We expect good traction in this business.

Looking ahead, we will continue to invest in building HGS 2.0 through proactive customer experience solutioning and acquiring digital capabilities across automation, analytics & AI and cloud even as we explore geographic expansion.”

Result PDF

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