As of course we still do not have a client list for our research reports, I just thought I should verify with other brokers on what reports look to end customers and in most cases prospects. Everyone knows that brokers and qualified research desks from Bombay and Delhi target hedge funds investors and others qualified financial institutions directly or thru sub-ledger accounts.  

Broker Research is as always dull and dry and like us it does not partake much else than analyst calls , in  terms of investee company presentations or meets with senior management.

Each research report is a carefully completed data sheet with very little space for opinions on effectiveness and quality of management performance and market discussions, giving us this continued edge in helping decision makers beyond such reports. Though having said that, hese broker reports are an essential part of your repertoire when you can lay your hands on them, esp if you are on a distribution list. Typically, however there are no fixed time frames off these reports for the stock move to start/complete as expected. 

Some brokerages do however need to get back from increasing investment in institutional business and focus on the domestic retail business, that has been at a plateau but fundamentally an under penetrated market with India only having 15 million investors at best overall. Retail business focus lets firms like IIFL and Kotak securities a chance to operate an effective business model without over concentration in proprietary trading, or an a patchwork of Grade B Institutional clients that do pose a measurable investment risk in themselves.  

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