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Capital Markt in India

Capital Markt in India

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Published by sumesh894

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Published by: sumesh894 on May 03, 2010
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10/26/2011

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CAPITAL MARKET IN INDIA
I
 
NTRODUCTION
 
A
 
BOUT
 
T
 
HE
 
C
 
OMPANY
 
HISTORY
 
The south Gujarat shares &shares brokers Limited (SGSSL) is a public limited company registered under company act 1956. Companyestablished with authorized share capital of RS.3 crores and it’s paid upcapital 1.27 crores.The south Gujarat shares &shares brokers Limited started its activitiesas an association of persons in 1992 and acted as sub brokers giving servicesfor buying and selling of securities to the retail investors from south Gujarat, particularly in Surat. Mr. Anil Choksy, Mr. Ashok Mehta, Mr. Jagdish Pateland Mr. Paresh Javeri who are the permanent directors of the company, took initiative in forming a limited company, so as to become the member of the National Stock Exchange of India Limited.Accordingly, the company South Gujarat Shares & Share brokersLimited was registered under the companies act on the 5
th
January 1995. To begin with it conducted its trading business through other members of the National Stock Exchange. During the first year of its operation ending on the31
st
March 1995 it suffered a loss of Rs.80000 due to heavy establishmentexpenses like assets purchase, maintenance, establishment, building,furniture etcThe company had another poor year during 1995-96 and suffered afurther loss of Rs.1.18lacs. This was mainly because the company couldn’t1
 
CAPITAL MARKET IN INDIA
 procure the Nation Stock Exchange membership during the year and also because of the prevailing poor market conditions.The company obtained SEBI registration as stockbroker on the 27
th
February 1996 and its activities full-fledged members of the National Stock Exchange commenced on the 18
th
April 1996. Originally, the operationswere started at Baroda since National Stock Exchange at that time was not providing connectivity in Surat. Once the NSE connectivity was madeavailable in Surat, the operation was shifted to Surat on the 23
rd
July 1996.At present the location in Belgium Chamber. At Belgium Chamber thecompany has a large space of approximately 2700sq ft for smooth operation.Another terminal has since been installed at J.K.Towers in March1997 to give better services to the investors. During the year ended 31
st
March 1997 the company has turned the corner. On the total income of Rs.45,80,000 the company made a net profit of Rs.3,75,000 and afteadjusting the losses of the previous two years of Rs.1,98,000, the net profitcarried to the Balance Sheet works out to be Rs.1,78,000.In 1998 company has taken approval from National SecurityDepository Ltd to work as depository participant (DP). In south Gujarat,SGSSL is the first company who takes the depository participant (DP).There are more than 12,000 holders which having demate account inSGSSL. The company is second largest in demate account in Surat cityCompany has a computer to computer link (CTCL) network, whichare connected with LAN and also with WAN. In Surat City Company has2
 
CAPITAL MARKET IN INDIA
given many register sub-broker CTCL. Company also provide in outside of Surat like Hazira, Navsari, and also in Bilimora.In present condition company try to register it’s sub broker in SEBI. Now in present, company has 35 registered sub-brokers and other membersif they work then company insist to take registration.In company there are 28 persons working. Company has 5 servers, inthis one server connect with NSE CTCL and second with disaster management. In NSDL also their is one main server. Company provides 3different rooms for on line trading to it’s clients and sub-broker with satellitedish, Equara cable and modem. In back office with account package of comtek also works actively with NSDL server.The company has been stressing on the delivery oriented securitiestrading and since inception has been consistently one of the major deliveringmembers. The company has been diligent ensuring compliance with thesecurities trading and settlement regulations of the NSE. It has resulted inensuring cleaner operations.The trading business of the company is rapidly expanding and itsvolumes have now crossed Rs.2.5 to 3 corers per day. The company expectsthe trading volume to at least double during the current year.Mr. Anil Choksy, who is the chairman and the managing director of the company, heads the operations of the company. He along with other fulltime directors maintains a close hand on the operations. The company has itsown internal trading and settlement regulations, which are in conformity3

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