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Brokerage stocks flying high
Published on Tue, Mar 25 at 16:31 , Updated at Tue, Mar 25 at 18:37
Source : moneycontrol.com
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Brokerage stocks were high flyers in today’s trade. During the past months they were significantly down. With volumes coming down the brokerage business was affected negatively. Not only FII but also retail participation was low. But today the stocks bounced back with good volumes and were up anywhere between 5% to 20%. Among the leaders were India Bulls Finance, Edelweiss Capital they were up 20%. According to Gaurang Shah brokerage stocks were over sold; thet had seen heavy sell off after the Budget. Going ahead stocks in pure brokerage and presence in other verticals like commoditiy and other financial areas are expected to do well. Brokerage houses will see arbitrage and jobber opportunities.
Also Indian brokerage house Religare is close to acquire European Institutional Broking Co. The acquisition likely to be between USD 40-50 million. Religare's management has said that it is exploring various organic and inorganic options. The stock was up 10% intraday high.
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Messages on Market Outlook - Short Term
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down more than 80% in a single tradingday
In actual term, those stocks are worthless now.. Papers with Zero Value unless some change take place to ensure tha...
in Market Outlook - Short Term - BullSheetRules at 08-Sep-08 11:01
WILL NIFTY HIT 3600 & SENSEX TOUCH 12000
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in Market Outlook - Short Term - BullSheetRules at 08-Sep-08 10:55
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