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The government’s demonetization programme that began in November 2016 and which has pumped some $220 billion into the banking system has driven substantial flows to the securities markets over the last year. As the top firm in this year’s Brokers Poll, Kotak Securities has been busy latching onto that trend.
The stock market has seen growth, with mid caps entering the exchanges amid a flurry of initial public offerings this year. Kotak’s coverage has expanded accordingly, reaching some 200 stocks in total, which the firm says puts it ahead of most...