UBS outsources Indian small- and mid-cap research

Noble, an Anglo-India investment bank, yesterday announced it will undertake small- and mid-cap equity research for UBS in India. According to the agreement, Noble will provide research to UBS's global institutional client base to complement the Swiss bank's existing coverage of the companies included in the BSE100 index.

Noble's equity business started publishing research in India last September. Its 11 analysts and sales people cover the technology, consumer, financial, power and infrastructure sectors. Stocks in its target universe have a market cap of less than $2.5 billion.

The alliance provides international investors with a safe, transparent and cost effective conduit through which to access a far greater number of stocks that sit below...