| 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. |
The
NSE turnover on Derivatives market is much
higher at about Rs. 80,000 crores per day. |
The Capital
Markets have developed into more transparent
markets with key initiatives undertaken
by the regulatory bodies in recent years,
some of which are; |
| |
|
|
Depository
and share de-materialisation process
have enhanced the efficiency of the
transaction cycle. |
|
Replacing
the flexible, but often exploited,
long settlement cycles with rolling
settlement, to bring about transparency. |
|
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. |
|
Empowering
SEBI with powers to impose higher
penalties and establish itself as
an independent regulator with adequate
statutory powers. |
|
Many
new instruments have been introduced
in the markets, including index futures,
index options, derivatives and options
and futures in select stocks. |
|
The
growth of the Capital Markets and regularization
provides AJCON immense scope to expand its
broking services. |
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. |
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. |
