Mumbai, Mar 12: The value of shares dematerialised has topped the $5-billion mark (about Rs 20,000 crore). The number of accounts opened with depository participants of the National Securities Depository Ltd (NSDL), too, has touched the 10,000 mark.The two landmarks, both of which have been achieved in the past few days, are being viewed seriously considering the multi-pronged advertisement blitz that NSDL has planned in the coming days. The ad-blitz which is valued at Rs 45 lakh is being jointly arranged by NSDL, the two leading stock exchanges, National and Bombay stock exchanges and Stock Holding Corporation of India Ltd (SHCIL).
According to highly placed sources, about 165 crore shares have already been dematerialised and an estimated 10-15 crore shares may be in various stages of dematerialisation.
"The value of the confirmed dematerialised shares stands at close to Rs 20,000 crore. The figure could top the Rs 24,000 crore ($6 billion) if the Sensex crosses the 4,000-mark and the shares in the pipeline are dematerialised on schedule," said a top source According to sources, the fact that the ad-blitz estimated a fairly sizeable cost is an indication that the market regulator is not dithering on the April 6 deadline when demat shares would be allowed to be delivered in the physical segment as well, said Sebi sources. Incidentally, the number of shares that have been dematerialised from among the eight securities shortlisted for compulsory trading by institutions has touched the Rs 60 crore mark.
As on March 7, as many as 26 companies have seen more than 10 per cent of their equity dematerialised. These include, IndusInd (59.64), Wipro (57.76), Infosys (32.79), ICICI (30.16), Krishna Filaments (21.46), Shree Cements (19.80), Reliance Industries (18.64), Tisco (18.61), Dhampur Sugar Mills (17.58), L&T (17.45), BSES (15.90), Grasim (14.89), GSFC (13.53), Tata Chemicals (13.48), Atul Products (13.35), Hindustan Petro (12.85), Synthetics and Chemicals (12.19), ACC (11.94), Weizmann (11.89), Hindalco (11.04), Mahindra & Mahindra (10.77), Kesoram (10.49), Chambal Fertilisers (10.44), Century Textiles (10.39), ITC Bhadrachalam (10.35) and Escorts (10.27). The other scrip which has seen a major rise in the levels of demat is the State Bank of India which today has 9.24 per cent of its equity dematerialised, almost double than that of the figure a month back.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
