SELECTED BIBLIOGRAPHY

Books

1. Archer, Stephen H., Financial Manageiizent, New York, Wiley &

Sons, 1983.

2. Avadhani V. A., A Manual on Stock Broking, Mumbai, Himalaya

Publishing House, 1996.

3. Avadhani V.A., Inz~estinent and Securities Markets in India, Mumbai,

Himalaya Publishing House, 1998.

4. Bhalla V. K., inz~estii~ent W!anageiizent, New Delhi, S. Chand &

Company Ltd., 1997.

5. Bhushan Y. K., F~~ndanzt~iztnls of Business Organisatioiz and

Manageinent, New Delhi, Sultan Chand & Sons, 1978.

6. Clifford Gomez, Capital Market and Fiiznizcial Serzlices, Kollam, Ajith

Publications, 2000.

7. Donald. E. Fischer and Ronald J. Jordan, Security Analysis and

Portfolio Maizgeii~eizt, New Delhi, Prentice Hall of India, 1994.

8. Garbade Kenneth Securities rbfarkets, New York McGraw Hill, 1982.

9. George A Christy, li~troduction to Irrr~estinents, New York, McGraw

Hill Book Company.

10. Gupta L.C., Stock Exclzange Trading in India, New Delhi, Jain Book

Agency, 1992.

11. Gupta U. L. Working of Stock Exclvlnge in India, New Delhi,

Thomson Publishing House.

12. John N. MyeI, Financial S fa fmen t Analysis, New Delhi, Kanishka

Publishers, 1998.

13. Krishna Bal & Narta S.S., !;ecurity Markets in India, New Delhi,

Kanishka Publishers, 1998.

14. Lewis Mandell, lilz~estiilent:, New York, Macmillan Publishing

Company, 1992.

15. Ramesh K.S., Flindanzenfals of Financial Management, New York,

Macmillan Company, 1989.

16. Samir K Barua, Portfolio Maizagenzent, New Delhi, 1996.

17. Schall Lawrence D., Financial Managenlent, New York, McGraw

Hill, 1983.

18. Scott LO., Goz~rnlnent Senirities Markets, New York, McGraw Hill, 1965.

19. Shukla M.C., Bt~siness Orgrnzisafiolz aizd Management, New Delhi,

S.Chand & Company Ltd., 1985.

Articles

1. "A Quick Reference Guide 'or Investors" - Securities and Exchange

Board of India, Tlw Hindu, Thiruvananthapuram, September 28,1999.

2. Abhijit Roy, "Crisis in Financial Markets", Tlte Hindu - Business,

Kochi, Vo1.124, No.84, Apri., 12, 2001.

3. Arunajatesan S., "Trading in Index Futures", Tlte Hindu, Kochi,

July 6,2000.

4. Babu A KallivayaliI, "An Introduction to Stock Broker's Accounts",

Tlte Stock lournal, Kochi, September 1994.

5. Balakrishnan S., "FDI or fast depleting Independence"? The Hindu - Business Rez~ie~c~, Thiruvananl:hapuram, May 24,2000.

6. Chari P.S.U., "Emerging Role of Financial Services", Tlze Hindu,

Thiruvananthapuram, December 19,1995.

7. Fernando V.S., "Thanks to Bank Issues, Primary Market Survives

1997, Tlze Indiniz Express - Business Express, December 29,1997.

8. Gayatri Nayak, "Net trading - A share of the Action", Tlze Economic

Tiitles, Mumbai, Vo1.39, No.319, January 19,2000.

9. Gupta L.C., "Policy lessons from the recent stock market crisis",

The Econoitric Tiiires, Mumbai, Vo1.41, No.32, April 5, 2001.

10. Hemendra Kothari, "Revix~ing the Stock Market", The Econoinic

Tiitles Mumbai, Vo1.40, No.302, January 2, 2001.

11. Jaganathan K.T., "Stock Exchanges in a new era of merger", Tlze

Hitrdzl, Kochi, Vol. 123, No.62, March 13,2000.

12. Janmejaya Sinha, "Indian S~ock Exchanges: A time to survive", Tlze

Ecoiloiilic Tiiiles, Mumbai, Vo1.41, No.45, April 18, 2001.

13. Jeevan Reddi B.P., "Coming to grips with economic liberalisation",

The Hirrdu, Thiruvananthapuram, November 17,1998.

14. Joshi Akash, "Spreading tI-~e basket", The Fiizaizcinl Express - Think

tairk, Kochi, December 21,1999.

15. Kamlesh Gandhi, "Relevance of Equity Investments in the Present

Market" Tlze Stock Jouriral, Kochi, May 1996.

16. Krishna M., "Developments in Financial Markets", Chartered

Fiiznncinl Aimlyst, Hyderabad, January/February 1992.

17. Krishna Mohan T., "Stock market review", Cllartered Financial

Analyst, Hyderabad, January /February 1991.

18. Krishnakumar P.K., "Battered Brokers", TIze Indian Express -Express

Week, Kochi, March 1998.

19. Louis K.K., 'Cochin On-line Trading", Tlz Stock lot~mnl, Kcchi, June 1996.

20. Manoj Vaish "Frequently asked Questions on Derivatives - Index

Future", The Stock Exchange, Mumbai, 2000.

21. Mayya M.R., "Prescription:; to lure small investors back to the

market", Tlze Hiizdu - B,~siizess Rerlieril, Thiruvananthapuram,

December 11,1996.

22. Menon T.N. "The Importar~ce of Market Making in the Securities

Market", Tlle Stock lonrizal, Kochi, August 1996.

23. Monika Halan, "Only the f ttest will survive", TIE Ecoizoi~tzc Tzmes,

Mumbai, January 2,1995.

24. Nair G.K., "Kerala's Economic Growth at Slow Pace", Tlze Hzndu

Bzrs~tless Lzne, Coimbatore, June 12,1996.

25. Narasimhan C.R.L., "Sad Flight of Primary Market: no solution in

sight", Tlze Hztzdu, Thiruvaranthapuram, September 15,1997.

26. Neeraj Kaushal, "Stock Exchanges should go public", Tlle Economic

Titlzes, Mumbai, Vol. 39, Ncl. 145, September 27, 1999.

27. Oomen A Ninan, "Old economy stocks back in favour", The Hindu,

Thiruvananthapuram.

28. Padmakshan M., "Index futures trading will be heated as

speculation", Tlle Econo~itic Tiiizes, Mumbai, Vo1.40, No.267,

November 29,2000.

29. Parul Monga, "Sebi Panel sets eligibility norms for SE members",

Financial Express, Kochi, July 14,2000.

30. Patil R.H., "Who Controls the Bourses"? Tlw Economic Times, Vol.

41, No.60, May 5,2001.

31. Pattabhiraman R., "PI1 should be compulsory for service

providers", Tlze Neu~ Indim Express - Business Express, Kochi,

February 12,2001.

32. Pratibha Gadhalay, "Stocks to Security", Tlw Hindu - Opportunities,

Kochi, Vo1.123, No. 295, December 13,2000.

33. "Primary Market mops-up 22%, Capital Market, Mumbai, Vol.

XIV/09, July 25,1999.

34. Puneet Jain "Give them :redit", Tlie Econotnic Tiriles -Investors'

Guide, Mumbai, April 3,2000.

35. Puneet Jain, "The Changing Old Order", Tlze Ecoi~on~ic Tittles -

Inr~estors' Gtiide, Mumbai, Vol. 40, No. 265, November 27,2000.

36. Radhakrishnan Naripatta, "Dhanakaryam", Mathri~bli~~ii~i, Kochi,

July 9,2000.

37. Rajagopalan V., "An Attractive Investment Destination", Tlze

Hindu, Coimbatore, March 27,1995.

38. Rajeev Mukhija, "Demutualise Bourses First", Tlze Econonzic Tinzes,

Vo1.41, No.74, May 17,2001.

39. Rajeswari Adappa Thakur, "Small Stock Exchanges demand

mandatory listing of small cap cos.", Tlw Econonzic Titiies, Mumbai,

Vol. 39, No.VI, No.2, February 4,2000.

40. Rajiv Handa, "Getting to Grips with Equity Research The Economic

Times - Iitz~estors' Guide, Murnbai, February 20,1995.

41. Rammanohar Reddy, "The Stock Market Bubble", Tlze Hindu,

Kochi' June 10,2000.

42. Rishi Chopra, "India has '10,000 listed companies but few trade

regularly, "Tlze Econotttic Tittles, Mumbai, Vo1.41, No.1, May 14,2001.

43. Russi Jal Taraporevala, 'SEWS action has made the market volatile,

hollow and illiquid", Cnpifn! Mnrket, Vol.VIII/26, March 1994.

44. Sambandan V.S., "Depositc~ries: Investor Confidence holds the key

to success", Tlze Hirdu, Coirnbatore, November 22,1995.

45. Samir K Barua, "Stock market crises and the need for regulatory

reforms", TIE Ecoi~oiilic Tiiirt*s, Mumbai, Vo1.41, No.52, April 25,2001.

46. Sanjeev Sharma, "Rolling settlement gathers no volume", Tl~e

Econori~ic Titnes, Mumbai, November 7, 2000.

47. Sanjoy Kular, "Increasing competition sees broking rates at a historic

low", T I E Ecoilonlic Tiiiles, Mumbai, Vo1.40, No.252, November 13,2000.

48. Sankar V, "Globalisation clf Stock Exchanges", Tlze Econonlic Tinzes,

Mumbai, Vol. 40, No.252.

49. Satish D, "e-Broking,em~ire in the making", Clznrtered Finnncinl

Analyst, Vol. VI, Issue 11, Cctober 2000.

50. Sivakumar K, "Stock-broking in limbo now, but the future

beckons", Tlle Biisiiless Liltl?, Coimbatore, September 29,1996.

51. Subramanian Swamy, "What ails the Indian Stock Market"? Tlze

Hindu, Kochi, Vol. 124, Nct.79, April 3,2001.

52. Sujatha V.V. "Developments in Financial Markets", Clzartered

Firzancial Arzalyst, Hyderabad, September - October 1992.

53. Suresh Prabhu, "Seminar on Stock Broking in the changed

Scenario", Tlre Stock journal, Kochi, June 1995.

54. Swamy G.V., "Economic Scenario", Chartered Financial Analyst,

Hyderabad, November - December 1991.

55. Tripati Smita, "Loan for dematerialised stocks" Matlzrub1zumi -

Dlzannkanjarrz, Kochi, November 11,2000.

56. Verma Deeksha, "The Fuhlre Forward, The Econonzic Tinzes -

Irzz~estors' Guide, Mumbai, June 12-18,2000.

57. Vijai P.N., "On-line trading may pose threat to Brokers", Financial

Express, Kochi, Vol.VI, No.2, February 4,2000.

58. Vijayaraghavan R., "From Casinos to Stock Markets", Tlze Hindu -

Busirzess Rezlieru, Coimbatore. March 31,1992.

59. Yassir A Pitalwalla, "On-line trading and Derivatives", Tlze

Ecorroriric Tiriles - Special Report, Vo1.40, No.3, March 7,2001.

0 thers

1. Govt. of India, Securities Coritrncts (Regulation) Act, 1956.

2. Merribers' Directory, Cochin Stock Exchange Ltd., Kochi.

3. Report of Public Relatiorzs Dey~artrnent, Cochin, Stock Exchange, Kochi

4. Tomy Varghese, A Study of [ildiz~idtla/ Irzz~estors ill tlre Capital Markt

ill Kernla, Ph. D. Thesis, CU!iAT, Kochi, 1999.

PROBLEMS AND PROSPECTS OF STOCK-BROKING IN KERALA

INTERVIhW SCHEDULE

General Information

(a) Serial No. : ........................................ (d) Marital Status ................................. :

(b) Sex ....................................... ................................. : . ( Education :

(4 Age (f) District .................................. .........................................

(g) Do you read the business page of the newspaper?

Yes No 0

(h) Do you subscribe any business/financial newspaper?

Yes No

(i) Do you subscribe any business/financial periodical?

Yes 17 No

(j) Are you able to analyse the financial statements of a company?

Yes No

(k) Do you evaluate the shares on the basis of reports?

Yes No

1. Major Activities and Services

Priniary Market

1.1 Do you engage in primary market operations?

Yes No

1.2 If yes from where do you collect application forms?

a) From the stock exchange

b) From the company directly

c) From the merchant ban8sers

1.3 How do you distribute application forms of primary issues?

a) Direct distribution

b) Distribution through assistants

c) Postal distribution

d) Any other mode il

1.4 Do you undertake collecting and depositing of application forms

with the banks on behalf of investors?

Yes No

1.5 What is the rate of brokerage obtained on allotment?

1.6 Is the rate commensurate with your service?

Yes No

1.7 Do you evaluate primary issues on behalf of clients?

Yes [7 No

1.8 If yes, what are the criteria adopted for evaluation? (Please specify)

1.9 Have your evaluation proved to be correct?

a) Not at all correct

b) 25% correct

c) 50% correct

d) 75% correct I7

e) Fully correct

1.10 Do the clients act according; to your evaluation?

Yes No

1.11 If Yes, please specify the a:?proximate percentage of acceptance by

the clients .......................................

Secondary Market

Buying of Shares

1.12 Do you deal in securities on behalf of clients?

Yes No

1.13 Do you recommend shares to buy to the clients?

Yes No

1.14 If yes, what are the criteria adopted for recommendation?

1.15 Is your recommendation proved to be rewarding to the clients?

a) Fully rewarding

b) Partially rewarding

c) Not at all rewarding

1.16 Whether clients act on your recommendation

a) Not at all

b) Sometimes

c) Always

1.17 What is the rate of brokerage charged by you From the clients?

1.18 In your opinion, is the brokerage adequate?

Yes 0 No

Market Research

1.19 Do you conduct market research?

Yes No

1.20 In your opinion, is it beneficial to your business?

Yes No

1.21 Do you undertake economic analysis?

Yes No

1.22 Do you undertake industry analysis?

Yes No

1.23 Do you undertake budgetar*{ analysis?

Yes E No

1.24 In your opinion, how the above analyses are beneficial to your

business?

Company Research

1.25 Do you undertake companl- research?

Yes No

1.26 From where do you collect the necessary information?

1.27 Do you visit company premises?

Yes No

1.28 Do you attend company mt~etings?

Yes No

Other Services

1.29 Do you undertake effecting transfer of shares on behalf of clients?

Yes No

1.30 Do you charge the clients for the service?

Yes No

1.31 If yes, please specify the rate charged?

1.32Do you act as custodian of share certificates on behalf of

shareholders?

Yes No

1.33 Do you charge for the service?

Yes No

2. Practices of stockbrokers to market their services

2.1 How do you distribute application forms in the primary market?

(Please show the approximate percentage under each head)

Mode of Distribution Percentage

a) Distribution effected through office -

b) Distribution effected through agents -

c) Distribution effected through newspaper insertion -

d) Distribution effected through banks -

2.2 Do you conduct seminars, symposia etc. to educate the investors

about stock market?

Yes No

2.3 If yes, how is it beneficial to your business?

2.4 Do you participate in investars' conference?

Yes No

2.5 How do you effect business deals in the secondary market? (Please

show the approximate percentage)

Mode of Marketing Percentage

a) Business deals effected through office -

b) Business deals effected through agents or

authorised assistants -

3. Accounting Methods and Practices

3.1 What is the method of accourlting adopted?

a) Single entry style

b) Double entry style

c) Combination of single entry and

double entry style

d) Any other mode

3.2 Do you follow electronic system of recording transactions?

Yes No •

3.3 Whether Profit and Loss Account and Balance Sheet are prepared?

Yes No •

3.4 Do you get your accounts audited? If so by whom?

3.5 Whether audited accounts are submitted to the exchange?

Yes No

3.6 Have you ever been fined for non-maintenance of books of

accounts and registers?

Yes No

3.7 Have you ever been fined f'or not submitting the audited accounts

to Income Tax Authorities?

Yes No

4. Threats and Challenges

4.1 What is your risk-bearing ability?

a) Risk averter

b) Risk neutral 0

c) Risk taker 0

4.2 State whether your financiai resources are adequate or not.

Yes No

4.3 How do you procure funds?

a) Own source 0

b) Arranging loan from banks

c) Arranging loan from mcney lenders

d) Any other source

4.4 Do you speculate in stocks'?

Yes No C

4.5 If yes, is it rewarding?

Yes No

4.6 Do you think that imposition of higher margin can check

speculative trading?

Yes No

4.7 Have you ever engaged ir kerb trading?

Yes O No

4.8 Do you think that kerb treding shall be legalised?

Yes No

4.9 Have you ever experienced the risk of backing out by clients?

Yes No

4.10 How did you manage such risks?

a) Initiated legal proceedings against the clients

,I ion b) Settled through arbitr t'

c) Treat it as business loss

d) Any other ways (specify)

4.11 Have you ever been declared defaulter by the stock exchange?

Yes 13 No

4.12 If so, on what ground?

a) Non-payment of dues to the exchange

b) Nondelivery of share certificates to the exchange

c) Margin money not deposited

d) Any other

4.13How you ever received insider-information about joint stock

companies?

Yes 13 No

4.14 If yes, have you ever acted on the basis of insider-information?

Yes No 0

4.15 Is there sufficient training facilities to act as stockbrokers?

Yes No

4.16 Do you think that training programmes are necessary for this

profession just like other professions?

Yes No 0

4.17 Do you comply with hansparency principle in dealing with

investors?

Yes No

4.18 Do you think that the margin requirement is -

a) Inadequate

b) Excess

c) Fair

4.19 Are your earnings from braking business regular?

Yes No

4.20 Do you actively engage in stock market operations?

Yes No

4.21 Do you think that the period of trading cycle is -

a) Adequate

b) Insufficient

c) Excess

4.22 Have you ever been in dispute with other brokers?

Yes No

4.23 If yes, please specify the reasons

a) Backing out from the de.11

b) Dispute over settlement of accounts

c) Professional rivalry

d) Any other reasons

4.24 Have you ever referred anT{ dispute for arbitration proceedings?

Yes No

4.25 Are you satisfied with the performance of investors' Grievance

Cell in the exchange?

Yes No

4.26 If no, please state the reasons

a) Not impartial

b) Delay in redressal of grievances

c) Unsatisfactory mode of pera at ion

d) Any other (please specify) .............................................

4.27 Has any investor or client complained against you in the Investors'

Grievance Cell?

Yes No

5. SEBI Regulations

5.1 In your opinion, are the regulations of the SEBI stringent?

Yes No

5.2 If yes, what are your suggestions to make the regulations

reasonable?

5.3 Do you comply with the code of conduct imposed by SEBI on

stockbrokers?

Yes No

5.4 Do you find it difficult to comply with the code of conduct?

Yes No

5.5 If yes, on what grounds? (PLease specify)

6. Strengths and Opportunities

6.1 In you opinion, is there any possibility of expansion in the present

stock market operations?

Yes No

6.2 If yes, what types of expan:;ion do you foresee?

6.3 Do you think that the stock market can accelerate the pace of

industrialisation in Keralal

Yes No

6.4 If yes, how? (Please specify) .........................................................................

6.5 Do you think that stock market can generate employment opportunities?

Yes No

6.6 Do you think that stock investment can generate wealth?

Yes No

6.7 What is the favourable effecv of stock market on the economy?

a) Accelerates the growth of industrialisation

b) Generation of employmmt opportunities

c) Generation of additional ncome

d) All the above

e) Any other ......................... .....................................

6.8 Do you think that investment in shares redirects the allocation of

funds to productive channels?

Yes No

6.9 Do you think that stock-broking is a good profession?

Yes No

6.10 If the answer is no, please specify

a) No regularity of income

b) Poor status

c) No scope for future growth and initiative

d) All the above

COMPANIES LISTED WITH CIOCHIN STOCK EXCHANGE LTD. I

NAME OF THE COMPANY S1.No.

ABN GRANITES LTD

ADAM COMSOF LTD

14. I ALUMINIUM INDUSTF.IES LTD. I

I 1 6. / APOLLO TYRES LTD. I 1 7. 1 ABL BIOTECHNOLOGIES LTD. 1 1 8. I ARAVALI DIARY & FODD PRODUCTS LTD. I 1 9. 1 ARTECH POWER PROIIUCTS LTD. I I lo. ( ASIAN PAINTS (INDIA) LTD.

/ 12. 1 ASPINWALL & CO (TRAV) LTD. 1 / 13. / ASSOCIATED CEMENT COMPANIES LTD. I I

/ 14. 1 AVT NATURAL PRODIJCTS LTD. I / 15. 1 A. V. THOMAS & CO. L.TD. 1 1 16. 1 BASIL CHEMICALS & ,9DDITIVES LTD. 1 1 17. 1 BHAGEERATHA ENGINEERING LTD. 1 1 18. 1 BHUVAN TRIPURA INDUSTRIES LTD. 1

BINANI ZINC LTD.

BPL REFRIGERATION LTD.

LTD.

- -- -- --

/24. 1 BRUSHMAN INDIA U'D.

1 25. 1 CALIFORNIA SOFTWllRE CO. LTD. I 1 26. 1 CANBANKMUTUAL FUND (REDEEMED)

1 27. 1 CARBON & CHEMICAIS INDIA LTD.

1 28. ( CITYMAN CLOTHINGC; (INDIA) LTD.

1 29. 1 COATS WELLA LTD.

1 30. 1 COCHIN MINERALS & RUTILES LTD.

1 31. 1 COCHIN REFINERIES EiALMER LAWRIE LTD.

1 32. 1 COCHIN REFINERIES L.TD.

1 33. 1 CONCERT CAPITAL L1'D.

1 34. 1 CONCERT SPICES & EXlPORTS LTD.

1 35. 1 CORNELL SHEEP FARM LTD.

/ 36. 1 CRYSTAL INVESTMENTS LTD.

1 37. 1 DELHI MERCHANT BA.NKER LTD

DESH RAKSHAK AUSHADHALYA LTD.

DHANALAKSHMI BANK LTD.

DHANASHREE ELECTliONICS LTD.

DHAR INDUSTRIES LTD.

42. DIGITAL EQUIPMENT!; (I) LTD.

1 46. 1 EASTERN TREADS LTI).

43.

44.

1 47. 1 EDDY CURRENT CONTROLS (I) LTD.

DYNAMIC MICROSTEI'PERS LTD.

DYNAVOX ELECTRONICS LTD.

1 48. 1 ELGI FINANCE LTD.

1 49. 1 ENGLISH INDIAN CLAYS LTD.

1 50. 1 ENJAYES NATURAL F1,AVOURS LTD.

1 51. 1 EUPHARMA LABORATORIES LTD.

1 52. ( EURO MARINE PRODIJCTS LTD.

1 53. 1 EXCEL GLASSES LTD.

1 54. 1 FALCON TYRES LTD.

165.1 GOKUL RUBBER & TEA PLANT LTD.

55.

56.

57.

58. r 1 59.

60.

GRASIM INDUSTRIES LTD.

GREENLAND WAREHOUSING LTD.

FEDERAL BANK LTD.

FERTILISERS & CHEMICALS TRA.LTD.

FRAMMATOME

FIDUCIARY CAPITAL tk FIN.SERV.LTD. I

FINOLEX CABLES LTD.

FOREST INDUSTRIES (TRAV) LTD.

j 68. j GTN TEXTILES LTD. I ( 69. 1 GUJARAT ARYA ISPAT LTD. 1

GANESH BENZOPLAST LTD.

GEOJIT SECURITIES LTD.

63. GLOBAL FOODS LTD. I

1 70. I GUTARAT INJECT (KERALA) LTD. I

64.

1 :: 1 GAT1 CORPORATIOPJ LTD.

HAILEYBURIA TEA ESTATES LTD.

GLOBE STOCKS & SE<:URITIES LTD. I I

1 73. 1 HARRISONS MALAYALAM LTD. 1 1 74. 1 HENDEZ ELECTRONICS LTD. 1 / 75. 1 HERUK AGRO FOOIIS LTD. I 76.

77.

78.

79.

80.

81.

82.

HIGHLAND PRODUCE CO. LTD.

HINDUSTAN LEVEIC LTD.

HINDUSTAN 0RGP.NICS LTD.

HOTEL LEELAVENTURE LTD.

ITC LTD.

INDIA CASTOR LTI).

INDIA RUBBER LTII.

83. 1 INDIAN BEVERAGES LTD. 1 84. 1 INDIAN FLAVOURS & FRAGRANCES LTD. 1 85. 1 INDIAN RAILWAY FII\J. CORPOR. LTD. I 86. 1 INDIAN TELEPHONE IND. LTD. 1 87. 1 INDO AMERICAN ADV. PHARM. LTD. I 88. 1 INDO FRENCH BIO-TECH ENTERPRISES LTD. I

INDSIL

INNOVATIVE MARINE FOODS LTD.

INTEGRATED

92. 1 INTER COMPTECH ENG. SERVICES LTD. I I JAY ENERGY & SENERGIES LTD.

JAY FLASH CERAMICS LTD.

JC LEATHERS LTD.

JILICHEM LABORATCIRIES LTD.

JINDAL VIJAYANAGAR STEEL LTD.

JOYMAT HOTEL RESORTS LTD.

JYOTI RESINS & ADHlZSIVES LTD.

100. 1 KTC TYRES LTD. I 1

POI . / KAILASH HITECH TIMBER INDUSTRIES LTD. I I I

102. 1 KALPETTA ESTATES LTD. I

103. 1 KALYAN SEAFOODS 1,TD. I 104. 1 KAMANWALA INDUSTRIES LTD. I 105. 1 KANAKADHARA STEEL LTD. I 106. 1 KANNAN STEEL LTD. ! I KARUR KCP PACKAGING LTD.

KATHAYEE COTTON MILLS LTD.

KELTRON COMPNENT COMPLEX LTD.

KERALA ACIDS & CHEMICALS LTD.

1 111. 1 KERALA AYURVEDA Pl-IARMACY LTD. 1 KERALA CHEMICALS &: PROTEINS LTD.

KINGS INF AQUA MARINE EXPORTS LTD.

/ 116. 1 KOLUTHARA EXPORTS LTD. I 1 117. 1 KONKAN RAILWAY CORP. LTD. 1 / 118. / LAXMI MILLS LTD.

1 119. 1 LAXMI STARCH LTD.

1 121. 1 MRF TYRES LTD. 1 1 122. 1 MADRAS INV. & FIN CONSULTANCY LTD. I ( 123. 1 MALABAR AGRICULTURE CO. LTD. 1 / 124. 1 MALABAR BUILDING F'RODUCTS LTD.' I ( 125. / MANAPPURAM GEN. FIN. & LEAS.LTD. I 1 126. 1 MAZDA INDUSTRIES LTD. 1 1 127. 1 METRO GENERAL CREDITS LTD. 1

MIDLAND RUBBER & PROD. CO. LTD.

MIRZA TANNERS LTD.

MONTANA INTERNATIONAL LTD.

MUDIT FINLEASE LTD.

MUNAK CHEMICALS I.TD.

1 133. / MUTHOOT CAPITAL SERVICES LTD. I 1 134. 1 MCC FINANCE LTD. 1 ( 135. 1 NAGARJUNA FERT & CHEM. LTD. 1 1 136. 1 NAKAMICH SECURITIES LTD. I 1 137. 1 NATURAL STONE EXPORTS LTD. I 1 138. 1 NEDUNGADI BANK LTD. I

NELLIAMPATHY TEA ,& PRO.CO.LTD.

NICCO INDUSTRIES LTD.

NIKHIL ADHESIVES L'I'D.

NOVA ELECTRO MAG VETICS LTD.

OLYMPIA INDUSTRIES LTD.

OMNI DYECHEM EXPORTS LTD.

OSWAL YARNS LTD. I PAAM PHARMACEUTICALS LTD. I PARRY AGRO INDUSTliIES LTD. I PATEL ONBOARD COlJRIS LTD. 1 PATSPIN INDIA LTD. I PIERCE LESLIE INDIA LTD. I PERIYAR CHEMICALS LTD. 1 PRAMAN CAPITAL MARKET SERVICES LTD. 1 PREMIER PLANTATIONS LTD. I PREMIER TYRES LTD. I PREMIUM INDUSTRIES LTD. I PRIMA AGRO PRODUCYTS LTD. I PRIMA INDUSTRIES LTD.

PRINCIPAL PHARMA& CHEMICALS LTD.

PROFIT CORE PIPES LTD.

PSI DATA SYSTEMS LTII.

PULLANGODE RUBBER & PROD.CO.LTD.

PUNALUR PAPER MILIS LTD.

Q-FLEX CABLES LTD.

RADHIKA POLYSTERS LTD.

RADHIKA SYNTHETICS LTD.

RAIPUR ALLOYS & PR<)D.CO.LTD.

RAJAGIRI RUBBER & PROD.CO.LTD.

RAVISH INFUSIONS LTD. - - - -- --

RELIANCE INDUSTRIES LTD. -- -- -

RINKU POLYCHEM LTL). I

RIZY EXPORTS LTD. \ ROYAL ENFIELD MOTORS LTD. i RUBFILA INTERNATIONAL LTD.

SANDEEP INDUSTRIES LTD. 1 SANGHI INDUSTRIES LTD.

SARAF SONS (TRADER!;) LTD. 1 SHAH1 SHIPPING LTD.

SHREE CEMENT LTD.

SHREYAS SHIPPING L? D. 1 SHRI LAKHVI FIN SER\IICES LTD. i SIBAR AUTO PARTS LTD. I SILCAL METALURGIC LTD. 1 SOFFIA SOFTWARE LTD. i SOUTH INDIA WIRE ROPES LTD. 1 SOUTHERN ISPAT LTD. 1 SOUTHERN PETRO CHEM.IND.CORP.LTD. i SPRINGFIELDS SECURITIES LTD.

SREE BHARANI SPINNERS LTD.

STATE BANK OF TRAVANCORE LTD.

STEEL COMPLEX LTD.

SUNRISE ZINC LTD.

SUPERIOR FINLEASE LTD.

SUPERSTAR DISTILLERIES LTD.

SURYAODAYA AGRO INDUSTRIES LTD.

195.

196.

197.

198.

199.

200.

201.

202.

203.

204. - 205.

206.

207.

208.

209.

1 210.

211.

212 - 213.

214. I 215.

216.

217.

218.

219.

220.

VAIKUNDAM RUBBER CO. LTD.

SOUTH INDIAN BANK LTD.

TATA ENGINEERING & 0 LOCO.CO.LTD.

TATA IRON & STEEL CO. LTD. I TCM LTD.

TEAKTEX PROCESSIN<; COMPLEX LTD.

TECIL CHEMICALS & I-IYDRO POWER LTD. -- --- -- - TOSHIBA ANAND BATTERIES LTD.

TRANSPLASTICS (INDIA) LTD.

TRANS TECHNO FOODS LTD I

TRANSCHEM LTD. I

TRANSFORMERS & E1,ECTRICALS KER. LTD.

TRANSMATIC SYSTEMS LTD.

TRANSPORT CORP0I:ATION OF INDIA LTD.

TRAVANCORE CHEMICALS LTD.

TRAVANCORE SUGP RS & CHEMICALS LTD.

TREND DESIGNS LTI). - TRIMURTHI SECURIF'IES LTD.

TVS ELECTRONICS L TD.

TCI INDUSTRIES LTI)

UNION REARINGS I VDIA LTD.

UNIROYAL MARINE: EXPORTS LTD.

UNIT GROWTH SCHEME - UGS 2000

UNIT GROWTH SCHEME - UGS 5000

USHA INDIA LTD.

UTI MASTER PLUS

UTl MASTER SHARES

LTD. I

VALUE LINE SECURITIES (INDIA) LTD.

VATSA CORPORATIO~I LTD.

VENEERS & LAMINATIONS (I) LTD.

VEERA TREATWOOD I.TD.'

VELIMALAI RUBBER CO. LTD. --

VERTEX SECURITIES L I'D.

VICTORY AQUA FARM LTD.

VICTORY PAPER & BOARDS LTD.

VIDEOCON APPLIANCES LTD. ---- -

VIDEOCON INTERNATIONAL LTD.

VIJAY GROWTH FIN. SERVICES LTD.

VIKAS WSP LTD.

VINAYAKA SYNTHET'ICS LTD.

VYSALI PHARMACEZJTICALS LTD.

WALL STREET FINAPIICE LTD.

WEIZMANN LTD.

WESTERN INDIA PLYWOODS LTD.

WESTERN INDIA COTTONS LTD.

WIPRO LTD.

ZODIAC JRD MKJ. LI'D. Public Relations Dept., Cochin Stock Exchange.

TYPICAL PROFIT & LOSS ACCOUNT & BALANCE SHEET OF STOCKBROKERS

ABC AND COMPANY STOCK AND SHARE BROKERS, COCHIN STOCK EXCHANGE

TRADING PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDING 31ST MARCH 2000

To Opening Stock

To Purchases

Salary & Allowance

Settlement contribution to

Stock Exchange

Interest on loans

Rent

Computer service charge to CSE

Subscription to Stock Exchange

SEBI Registration

Telephone bill

Subscription to periodicals

Vehicle maintenance

By Sales ---------------

By Closing Stock

(Valued at cost or market

value whichever is lower)

By Gross Profit b/d ---------------

By Primary issue brokerage --------------- By Brokerage 1 Commission ---------------

Postage & Stamps

Office expense

Travelling expense

Stationary & Printing

Commission paid

Accounting charge

Miscellaneous

Depreciation

Computer data processing

Auditing

Professional service charge

Bank charge

Insurance premium

Business promotion

Service charge

Net Profit transferred to

Proprietor's Current Alc

As per our Audit Report Dated 10.10.1994.

Chartered Accountant

LIABILITIES

ABC AND COMPANY STOCK AND SHARE BROKERS, COCHIN STOCK EXCHANGE

BALANCE SHEET AS AT 31.03.2000

CAPITAL ACCOUNT PROPRIETOR'S CURRENT ACCOUNT LOANS Loan from Individuals Loan - CSE against Member's Fund CREDITORS & PROVlSlONS Sundry Creditors as per schedule C.A. George & Co. Jeffry P Francis Provision for interest

ASSETS

Motor Cycle - - - - - .. - . - - - - - - - Less : Depreciation -- --- .-.-------

Furniture --------------- Less : Depreciation

SECURITIES & DEPOSITS Building Fund with CSE Member's Fund with CSE Security deposit with CSE Addi. Security dzyubii CSE. Share holding with CSE Telephone deposit Advance tax CLOSING STOCK DEBTORS Sundry debtors as per schedule Cochin Stock Exchange - Weekly Margin money with CSE CASH & BANK BALANCES Cash in hand Syndicate Bank Vysya Bank

AMOUNT