NEST* RELEASE
Compulsory Demat Trading Commences
As per the SEBI directive, settlement of trades with respect to a select list of 12 securities are to be mandatorily in the demat form for all segments of investors for all stock exchanges connected to NSDL from January 4, 1999. The details are as follows
| NSE |
1998052 |
30-12-98 |
| BSE |
9899042 |
04-1-99 |
| CSE |
9899029 |
28-12-98 |
| DSE |
98699037 |
4-1-99 |
| LSE |
LP98041 |
28-12-98 |
| BgSE |
9899042 |
2-1-99 |
| OTCEI |
1999001 |
2-1-99 |
Accordingly, trading under this new system started last week in NSE, CSE, LSE, BgSE and OTCEI. In BSE and DSE, it is commencing today.
Sabero Organics Gujarat Limited and Rolta India Limited have made one - time payments to NSDL that will enable NSDL not to charge custody fees to the DPs for shares of these companies. This brings the total number of companies who have opted for this scheme to 43.
As on date, 304 companies have signed agreements with NSDL to get their securities admitted for dematerialisation. Companies that joined recently are Consolidated Fibres and Chemicals Limited, PSI Data Systems Limited, IDBI Bank Limited, Bajaj Auto Finance Limited, Nahar Exports Limited, and Nahar Fibres Limited.
Dematerialisation facilities are available for securities of 297 companies.
Bank of India and State Bank of Indore have become operational as DPs thus bringing the total number of Depository Participants to 76. State Bank of Indore is the first Depository Participant to become operational from Indore. Depository Participant services are available from 610 locations across the country.
As on January 2, 1999 more than 171000 depository accounts have been opened by investors across the country and abroad.
As on January 2, 1999, more than 508 crore shares having a total value of about Rs. 70333 crore were dematerialised.
As on January 2, 1999, dematerialisation as a percentage of the total market capitalization had crossed 50% for the following scrips
| 1 |
WIPRO EQ |
86.90 |
| 2 |
INFOSYS EQ |
76.97 |
| 3 |
INTEGRATED ENTP EQ |
75.33 |
| 4 |
PRAJ INDUSTRIES EQ |
68.48 |
| 5 |
CRISIL EQ |
64.38 |
| 6 |
LIC HOUSING FIN EQ |
62.90 |
| 7 |
INDUSIND BANK EQ |
61.68 |
| 8 |
BIRLAGLOBAL FIN EQ |
57.46 |
| 9 |
HDFC EQ |
54.54 |
| 10 |
JAIN IRRIGATION EQ |
51.87 |
| 11 |
PUNJAB TRACTORS EQ |
50.89 |
Mumbai
January 4, 1999
NEST = * National Electronic Settlement and Transfer
