The inception of Calcutta
Stock Exchange emerges from a get together under a "Neem Tree" way back in the
1830s, and from then the Calcutta Stock broking fraternity has come a long way. Though the
once famous shelter for Calcutta Stock brokers no longer exists, the roots laid in the
last century have dug themselves deep into the city and the region. The North-Eastern
region, today plays a crucial role in the countrys capital market, while the
Calcutta Stock Exchange has emerged as the second largest bourse in the country. The
investors from the Eastern Zone are also at the forefront today.
The origin of stock broking in India goes
back to a time, when shares, debentures and bonds representing titles to property were
first issued on the condition of transfer from one person to another. The earliest record
of dealings in securities in India is the East India Companys loan securities.
The building at 7, Lyons Range, Calcutta
which was constructed in 1928 and has been the office of the Stock Exchange for the last
70 years.
At the time of incorporation in 1908, the Stock Exchange
had 150 members. Today the total membership has risen to more than 900, which contains
several corporate and institutional members. The number of companies listed on the
Exchange is more than 3,500. The Annual turnover of the Exchange in 1997-98 was to the
tune of Rs, 1,78,779 crores. The Calcutta Stock Exchange has been granted permanent
recognition by the Central Government with effect from April 14, 1980 under the relevant
provisions of the Securities Contracts (Regulation) Act, 1956, with a view to render
useful service to investors. |