Few takers for Indian brokerage firms

Rising costs, shrinking margins, and a dull stock market are driving Indian broking houses to the brink . Several of them are on the block and could be available at a bargain, yet there are few willing buyers. Everyone talks of consolidation being imminent in the broking industry, but regulatory hurdles and the nature of broking itself make mergers and acquisitions impractical, say those in the industry. This is especially so when an existing brokerage wants to buy out another thinking that its footprint and clientele will instantly expand. This is easier said than done given the regulations, say insiders

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