Emkay Global rallies on pact with DBS for equity research distribution

The stock hit 9-year high of Rs 149, up 10% on BSE. It rallied 75% in past seven days from Rs 85

Emkay Global Financial Services hit 9-year high of Rs 149, up 10% on BSE, after the company said it has entered into an exclusive pact with DBS Bank arm DBS Vickers Securities (Singapore) for sharing knowledge, co-branding and distribution of equity research to the latter's global clients.

The agreement involves sharing of knowledge, co-branding of research and its distribution to the global clients of DBS Vickers, Emkay said in a statement on Tuesday.

The alliance could facilitate DBS Vickers to enhance its service offering to its clients, while enabling Emkay to expand its reach, it added.

The stock is currently trading at its highest level since May 2008. It has rallied 75% in past seven trading sessions from Rs 85 on Monday, June 5, 2017. On comparison, the S&P BSE Sensex was down nearly 1% during the same period.