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Listed brokerage as well as investment advisory stocks on Friday shot up quite smartly. Stocks such as India Infoline (0.89 per cent), IL&FS Investment Managers, Emkay Share & Stock Brokers (10.47 per cent), Motilal Oswal Financial Services (0.74 per cent), Apollo Sindhoori Capital Investments (13.22 per cent) and Prime Securities (8.85 per cent) also witnessed sharp surge in trading volumes.

According to brokers, following the World Bank arm International Finance Corporation’s buying of 12.5 per cent stake in Mumbai-based Angel Broking for Rs 150 crore, investors are looking these stocks afresh.

Most of them expect a re-rating of this sector.

They also hope that a lot of institutional and private equity investments are likely to happen soon as lot of behind-the-scene negotiations are taking place.

Besides, announcement of initial public offerings from leading brokerages (including Angel) may further discover their potential value in the sector, say analysts.

K.S. Badri Narayanan

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