Financial Daily from THE HINDU group of publications
Thursday, Apr 15, 2004
Financial Daily from THE HINDU group of publications Thursday, Apr 15, 2004 |
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Markets
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Financial Services Madurai investors' plea to SEBI on demat securities Our Correspondent
Madurai , April 14 THE Madurai Investors Association has urged Securities and Exchange Board of India (SEBI) to alleviate the problem faced by the small investors, posed by the depository participants in dematerialisation. In a memorandum submitted to Mr T.M. Nagarajan, Whole Time Member, SEBI, during his recent visit to the city, the association has pointed out that the small investors, while depositing their shares with any one of the depositories, are being informed that the company had not signed with that depository to facilitate dematerialisation of shares and are thus forced to seek one where they are accepted. It has urged the SEBI to instruct NSDL/CDSL to deal in securities as permitted securities, if a company had entered into an agreement with any one of the depositories, so that the small investors are not put to any problem in dematerialising the securities. The association has further pleaded with SEBI to direct the Bombay Stock Exchange (BSE) to provide 52-week high and low of scrips as is in National Stock Exchange terminal, instead of providing only the day high and low of scrips. Also, the BSE terminal currently provided information only of the top 10 traded scrips. But the small investors need information about other segments such as A, B1, B2, Z and T2T. This will enable them to understand the movement of the market in each segment. The association has pointed out that the investors, whose shares are listed in the Regional Stock Exchanges, are unable to sell their scrips due to poor liquidity and SEBI should initiate immediate steps to create liquidity in the stocks through ISE/BSE/NSE.
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