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Investors giving the go-by to Lyons Range

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TRADING GOES FOR A TOSS

AT CALCUTTA STOCK EXCHANGE
AT CALCUTTA STOCK EXCHANGE

Nilanjan Dey

Kolkata, April 20

Business on the Calcutta Stock Exchange is grinding to a halt. The regulator's strong stance on errant companies that were traded heavily has added to what has been chronic at Lyons Range - a near-absence of investors' interest.

Daily trading highlights that are being released lately underline the sorry state of affairs at what once ranked among the country's premier stock exchanges. On Wednesday, for instance, not more than half a dozen counters were traded, leading to a turnover of a mere Rs 87 lakh. The situation, Lyons Range sources suggest, is not even creating a ripple, as investors are generally not involved with the exchange any longer. This, they add, will continue unchanged till such time drastic measures are taken for its revival.

The stocks that are being traded these days include Kesoram Industries, Mangalore Refinery and Essar Oil. However, there are certain not-so-well known counters as well. These include Bhaktwal Investments, Sangotri Constructions and Shiv Om Investment & Consultancy.

Business on the CSE in recent times was anyway marked by real estate, trading and investment companies, local investment circles point out, while alluding to the kind of transactions that used to take place here.

Sources refer to SEBI's recent move to extend the suppression of the governing body, which will be in force for another six months till the end of September. The SEBI-appointed administrator, Mr T.K. Das, will continue to exercise all powers of the committee during this period.

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(This article was published in the Business Line print edition dated April 21, 2006)
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