FMB boss hits at market analysts

FMB chairman Hitesh Anadkat on Wednesday hit out on local market analysts and brokers for not effectively disseminating and compiling information of listed counters of the local shares market.

Speaking during the Malawi Stock Exchange (MSE) symposium in Blantyre Anadkat wondered why of late there has not been information on listed entities for the public to use to make informed decisions on which entity to invest in.

“For a number of years now analysts have stopped doing research reports. It is our expectation that they should be taking all public companies at least once a year giving their view of how they performed, whether the share price is right or wrong,  whether they have performed well in relation to their peers and so on,” he said.

He noted that there seems to be little understanding on the fundamental value of the shares market.

One stock broker speaking in an interview with Business News on Wednesday admitted that market analysts have not only failed to provide information on listed counters but also failed to help the local shares market court investors.

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