Hyderabad Stock Exchange



About Hyderabad Stock Exchange



The Hyderabad Stock Exchange (HSE) in Hyderabad had started its operations in the year 1941. Initially, the operations were carried out on a very small scale in a building taken on rent in the area of Koti. Later, in 1987, the office was shifted to Aiyangar Plaza, Bank Street.

In the month of September 1989, the expansion of the trading business led to the establishment of its own building. Thus, the entire office was moved to a building in Himayathnagar, Hyderabad. The building was inaugurated by Shankar Dayal Sharma, who was the Vice-President of India at that point of time.

The continuous process of expansion made it important to have all the trading members under one proof and as a result the company went for the acquisition of bigger premises at 6-3-654/A ; Somajiguda, Hyderabad - 82. The building had 6 floors and premises had a built area of around 486,842 square feet. It also included a cellar of about 70,857 square feet.

In the year 1993, the stock exchange in Hyderabad had 117 members, which over the period of time grew to become 300 by March 31, 2000. It also featured 869 listed companies with the paid-up capital of Rs.19128.95 crores. Between the years 1999 and 2000, the turnover of the stock market in Hyderabad reached Rs. 1236.51 crores.

Background of Hyderabad Stock Exchange



Few noted bankers and brokers started the share and stock Brokers Association in the month of November 1941. Later, Finance Minister Mr. Gulab Mohammed constituted a committee to be responsible for formulating rules and regulations of the stock market in the year 1942.

Under Hyderabad Companies Act, President and one of the founders of the Hyderabad Stock Exchange, Sri Purushothamdas Thakurdas marked the opening ceremony of the exchange in 1943. Mr. Kamal Yar Jung Bahadur was appointed as the President of the exchange. HSE started its operations as a company limited by guaranty under the Hyderabad Securities Contract Act of No. 21 of 1352 during the time when H.E.H. Nizam's government was in power.

Hyderabad Stock Exchange was the 6th stock exchange to get recognition under Securities Contract Act. The Government of India recognized HSE on 29 September, 1958. With registering significant growth in the domain of trading and for its yeoman services, the HSE was rendered the permanent recognition, which became effective from 29 September, 1983.

Present Status of Hyderabad Stock Exchange



Securities and Exchange Board of India (SEBI) intimated the Hyderabad Stock Exchange in 2005 that it will have to sell 51% of its total equity to the general public on or prior to August 28, 2007 under the Securities Contracts Regulation Act of 1956 as stated in section 5(2). The exchange could not fulfill the requirement, which as a result amounted to withdrawal of recognition granted to it by SEBI. Consequently, stock exchange was renamed to "Hyderabad Securities and Enterprises Ltd." to continue its operations.



Last Updated on : 19/08/2013





     


     

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