Re: [nukkad] Indian Stock Market.

[Vishwas Patil <>]

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Thanks for agreeing with me. If there r any spelling,
issue, matter etc. etc. kinda mistakes the I request u
to ignore them n give more importance to the "THEME".
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Dear Mr. Valia,
I don't think that I know very much about the
day-to-day operations of the Indian Stock Market, but
when I was working as a "JOBBER" in late 80's n early
90's in the Stock Exchange of Pune thru the "CARD OF A
VERY PROMINENT STOCK BROKER OF MUMBAI STOCK EXCHANGE",
whatever the small knowledge I gathered, based on that
here r some views:

1) The rolling settlement method proposed by the
Executive Director of SEBI, Mr. C.B. Bhave (I may be
wrong here for Mr. Bhave's post!!! if so then I
request u to kindly ignore it, n give more importance
to the THEME), in the most "VOLATILE!! 500 SCRIPTS"
for the stock markets shud be implemented. 

2) A stock broker's "REALISTIC" job is to provide the
"BROKERAGE SERVICES" to the "INVESTORS", so all the
Stock Brokers shud be prevented from acting as
"POTENTIAL INVESTORS OR RATHER MARKET MOVERS!!!".

3) A stock broker is "ALLOWED TO PURCHASE THE SHARES
OF ANY COMPANY IF N ONLY IF HE HAS AN IMMEDIATE
POTENTIAL TO PAY THE AMOUNT OF THE TRANSACTION N
PICK-UP THE DELIVERY AT THE TIME OF THE TRANSACTION
ITSELF, ALSO HE SHUD BE ALLOWED TO SELL THE SHARES OF
ANY COMPANY IF N ONLY IF HE HAS A PHYSICAL DELIVERY ON
HIS OWN NAME, OF THE SHARES, TO BE GIVEN TO THE BUYING
PARTY AT THE TIME OF THE TRANSACTION ITSELF".

4) The overdraft issued by the Banks to any stock
broker to "COMPLETE" his/her transactions in a
"PARTICULAR SETTLEMENT", shud be limited to the
"MAXIMUM OF 0.1%" of the "NET WORTH" of the stock
broker.

5) The mutual fund companies, the big investors in the
stock market, domestic institutional investors,
foreign institutional investors shud not be allowed to
have a "ONE N ONLY ONE PARTICULAR" broker for all
their transactions. Also they must not have thier own
brokerage firm to handle their all transactions. If
they want to act as an "INVESTOR" in the stock market,
then they must act like that only, they must not act
as "BROKERS", then. 

6) Their all transactions in the stock market shud be
done by "A GOVERNMENT REGULATORY AUTHORITY WHICH WILL
BE UNDER SEBI". By this way the "MONOPOLY" of the
stock brokers' community in the stock market will be
substantially curtailed n our government will also get
an additional revenue from the brokerage of such
transactions. If this is done then according to the
fair estimates as per report of SEBI, presented to the
Union Finance Ministry of India, by Mr. Raje, Chief
Financial Officer of SEBI, (Once again I may be wrong
here for Mr. Raje's post!!! if so then once again I
request u to kindly ignore it, n give more importance
to the THEME), our government can get a revenue of
around 1bn US$ every yr.

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The following opinion is my personal opinion, which I
made by seeing the "BROKERS COMMUNITY" very closely
for a decade. 

7) Finally, the tremendous "GREED FOR MONEY" kinda
attitude of the brokers community n their habit to
"EARN MONEY BY ANY ILLEGAL MEANS", shud be given up by
the stock brokers' community, but I don't think that
this is possible coz that community is so much deeply
habituated for earning money thru fradulant activities
that this is not possible for them. Fraud is in their
blood n in their "ENTIRE COMMUNITY".

Vishwas,


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