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Tag Archives: NSE

How to invest in a red hot market

Posted on October 29, 2010 by monikahalan
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Expense Account, Mint

Endnote: Those that attempt to manage news do so in a manner that creates impressions. The one impression in the minds of the average consumer of media is this: The Securities and Exchange Board of India (Sebi) chairman is pushing business towards his former place of work—the National Securities Depository Ltd (NSDL)—and for some reason is partial to one of the promoters of NSDL—the National Stock Exchange (NSE). One question that has remained unasked is this: Why he is doing this? Is he the owner of NSDL that he will personally benefit from greater business and profits? No, NSDL is promoted by a mix of public, private and foreign institutions (http://bit.ly/dlV9Nx). So may be he has a stake in NSE with family and associates on the board. Um…, no. NSE is promoted by government-owned institutions and private banks (http://bit.ly/9oQpVW). Is there anyway in which he will personally benefit by doing this? The answer remains: no. So, it could be that he is not pushing business towards anybody. May be he is just doing his job and in that not allowing those who bend the system to function. The other strange story is about the compensation of the NSE chief. It seems he rewards himself very well. But isn’t there a board that decides on issues such as top management salaries? May be the board comprises his family and close associates. Nix again. Names (http://bit.ly/aKRXQb) that most people would agree are still clean in a country where fewer and fewer in positions of power remain in that group make up this list. The hounding out of two good men is on and is already partly successful. But readers must remember in the next few years of chaos that these are the guys who gave us safe and clean markets.

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Posted in Expense Account | Tagged board, NSE, Personal Finance, salary, Sebi | Leave a reply

The broker goes for broke. Season two

Posted on August 26, 2009 by monikahalan
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Expense Account, Mint

It is always the transition generation that finds it the most difficult to adjust to change. I was a rookie business journalist in 1992 when the Harshad Mehta scam broke and the securities market reform began. I remember talking to a small stock broker in Delhi discussing the incipient changes. Sitting far away from the trading floor and with my livelihood not at risk, I found it easy (though a bit callous, on hindsight) to tell him that his business was history. That the market would corporatize. That costs would come down and unless he either expanded very fast or became an employee, business was over. With the size of business he serviced, on the new brokerage structure that would emerge, he would not be able to survive.

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Posted in Expense Account | Tagged agents, distributors, mutual fund, NSE, Personal Finance, season 2 | Leave a reply

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