The Morgan initiative comes as a major boost for I-Sec to achieve a turnaround after having witnessed a phenomenal 90 per cent slide in its net profits during 1995-96.
The I-Sec sponsored research data will now be circulated globally, which includes a wide range of subjects.
Besides providing buy/sell recommendations on shares of Indian companies, the data contains appraisal of domestic equity and debt markets.
The move is also expected to be a shot in the arm for research business on India, which is going through a downswing.
The security subsidiary of ICICI has in recent months emerged as a key research outfit with an in-depth analysis on the domestic debt market.
Now the depressed capital markets is prompting Indian corporates to opt for the debt route. I-Sec has also introduced a sovereign bond index.
Following a disappointing performance last year, the I-Sec top brass has already initiated dialogues with partner J P Morgan to devise a turnaround strategy for the fledgling outfit.
Company officials say that the company is trying to persuade its collaborators to take greater interest in GDR offerings by the Indian corporates.
Morgan is interested in GDR issues of over $100 million, which is beyond the means of most Indian corporates,
