Canada-based Veritas Investment Research Corp on Wednesday said it would start covering Indian stocks from the new year, as part of its global expansion plans.
In a statement issued from Toronto, the investment research firm said it would launch coverage from January 2012 to mark the next phase of its growth in its 12th year of operations. It will focus on large-cap firms and initially cover the BSE-100 index constituents for its research reports.
Veritas said it was a company 100 per cent owned-and-operated by employees and its clients were global pension funds, institutional money managers, regulatory bodies and law enforcement agencies.
The company claimed its reports provide "unbiased advice with no brokerage or investment banking conflicts of interest."
Veritas' head of research, Neeraj Monga, said the firm would "write in-depth reports (on Indian companies) covering governance and accounting policy... Valuations on firms will be benchmarked to relevant global peers." Earlier this year, Veritas Asia released two India-related reports: one covering RIL and RCom, and another on UB Holdings and Kingfisher Airlines.