The Hindu Business Line : Only a few tradings in CSE

A few days after the SEBI Chairman pointed to the possible exit of a large number of companies from the regional bourses, the Calcutta Stock Exchange presents a sorry picture with fewer than a dozen stocks being traded.

On Friday, the situation was worse, considering the five counters that were traded, leading to a turnover of a mere Rs 42.1 lakh.

As the trading highlights released by CSE for that day suggested, the transactions were mostly in small-time stocks such as Swastik Securities, RGF Capital Markets and Sangotri Constructions. The exceptions - companies enjoying a better recall - were Srei Infrastructure and FAG Precision.

The SEBI chief, it may be recalled, has recently underlined his view that a good number of listed entities may move out of the RSEs' ambit. The committee's report has clearly mentioned that barring Calcutta and Uttar Pradesh, there is no trading on any other bourse. The situation, as Mr Damodaran put it, may be partially attributed to the elimination of regional listing, the arrival of online trading and the country-wide reach of NSE and BSE. Interestingly, the panel's report has further alluded to the introduction of uniform rolling settlement from 2001 in place of account period settlement with various cycles.

In difficult situation

Broking sources on Lyons Range, while pointing to the latest figures, suggest that the exchange (which is now under an administrator) would find it difficult to reverse the trend.

On another front, CSE has advised members to comply with the regulatory requirement on submission of turnover details for 2005-06. July 31 has been set as the date by which such data must reach SEBI.

Further, the regulator has said that it requires brokers to pay registration fees payable for fiscal 2006-07 before October 1.