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STOCK
BROKING SERVICES |
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India
is now placed among the mature markets of the
world. Over 9,000 companies are listed on Indian
stock exchanges. There are 23 recognised stock
exchanges in India, including the OTCEI for small
and new companies and the NSE, which was set up
as a model exchange to provide nation-wide services
to investors. The markets have experienced accelerated
growth in trading volumes. During 2002-03, the
NSE and the BSE were ranked third and sixth respectively
amongst all exchanges in the world with respect
to the number of transactions. BSE and NSE combined
average daily turnover on cash margin expanded
from approximately Rs.480 crores in 1995-96 to
approximately Rs. 8,000 crores in July 2006. The
total turnover on NSE and BSE for 2007 were Rs.
73,562,420 and Rs. 9,561,000 million respectively.
The present day daily average turnover is about
100,000 crore. |
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The
NSE turnover on Derivatives market is much higher
at about Rs. 80,000 crores per day. |
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The
Capital Markets have developed into more transparent
markets with key initiatives undertaken by the
regulatory bodies in recent years, some of which
are; |
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Depository and share
de-materialisation process have enhanced
the efficiency of the transaction cycle. |
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Replacing the flexible,
but often exploited, long settlement cycles
with rolling settlement, to bring about
transparency. |
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IT driven stock exchanges
(NSE and BSE) with a national presence (for
the benefit of investors across locations)
and other initiatives to enhance the quality
of financial disclosures by the listed companies. |
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Empowering SEBI with
powers to impose higher penalties and establish
itself as an independent regulator with
adequate statutory powers. |
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Many new instruments
have been introduced in the markets, including
index futures, index options, derivatives
and options and futures in select stocks. |
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The
growth of the Capital Markets and regularization
provides AJCON immense scope to expand its broking
services. |
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AGSL
is a member of the National Stock Exchange of
India Ltd. (NSE), since 1994. The Company is empanelled
as a broker with leading institutional players
like LIC, UTI, SBI and several nationalized Banks
and Mutual Funds for the last 10 years. The Company’s
clients are spread all over the Country and its
securities turnover runs in thousand of crores. |
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AGSL
plans to expand its client base to all over India
by having its regional offices set up in various
cities. This will require increased capital to
meet margin requirements, setting up regional
offices, robust infrastructure to provide greater
customer sophistication and application of technology,
and compliance with regulatory norms. |
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