The MSE (Madras Stock Exchange) should create a dedicated platform for trading in small & medium (SME) enterprises’ stocks, said Mr. P.R. Ramasubrahmaneya Rajha, Chairman & Managing Director, Madras Cements Ltd.
Addressing the Platinum Jubilee celebrations of the MSE , he said SMEs have largely not tapped the capital markets. But there is a huge, untapped growth opportunity for this sector, which with 3.1 # crore manufacturing units contributes to nearly 45% cent of the economy.
The Governor of TN Mr. K. Rosaiah, said stock exchanges should help investors be aware of industries, facilitate people to invest their savings to enable industrial growth. The MSE has partnered with the National Institute of Securities Market to conduct such awareness programmes. It should continue to maintain high standards and play a central role in promoting business and trade.
Mr. Rosaiah relaunched the MSE’s website.
Mr. Henry Richard, Chairman, MSE, said ,''MSE will soon have its own trading platform. It is well set to achieve other norms such as a net worth of Rs. 100 crore and an annual trade volume of Rs 1,000 crore.
Established in 1937, the MSE has kept pace with the times, introduced online trading in 1996, formed a subsidiary, MSE Financial Services in 2000, became a depository participant, a demutualised entity in 2007 and has entered into an arrangement with NSE for trading. It has over 1200 companies listed on it and nearly 600 are being traded on the NSE platform following the arrangement with it.
Mr. K.P. Subramaniam, Public Interest Director, MSE, said ,''The software for the exclusive trading platform has been established & is set to start soon. Other regional stock exchanges have evinced interest in merging with it & this would enable the Exchange achieve the turnover norms"
Photo (from left) Mr. V. Nagappan, Member, Advisory Committee, Mr. S. Venkateswaran, Director, and Mr. D. Sudhakar Reddy, Shareholder Director, Madras Stock
Photo Thanks The Hindu
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