To my mind, IndiaInfoline is the best brokerage stock.
Not only is its PE ratio in single digits (so is Indiabulls) but it has very low debts relative to its equity and market cap, it's EBIT to EV ratio is decent while its ROC is outstanding considering the kind of business they operate.
In spite of the downturn in the brokerage business owing to poor market conditions, Indiainfoline has been able to increase its topline.
Its drop in quarterly net earnings is understandable and much less than the likes of Geojit.
I would expect IndiaInfoline to do very well in the coming years.
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