102 cos dematerialise shares

MUMBAI, Aug 4: The number of companies which dematerialised their shares through the National Securities Depository Ltd (NSDL) has crossed ...

MUMBAI, Aug 4: The number of companies which dematerialised their shares through the National Securities Depository Ltd (NSDL) has crossed the 100 mark and touched 102 today.

According to NSDL, dematerialisation facilities are available for shares of 72 corporates and trading facilities are available for shares of 61 corporates. Companies which signed agreements recently are Tamilnadu Petroproducts Ltd, Wipro, Binani Industries, Isibars and Krishna Filaments.

Alongwith signing the agreement with NSDL, Krishna Filaments has also decided to make the one-time payment to NSDL which will enable NSDL not to levy custody charges to the DPs. Dhampur Sugar Mills has also opted for this `one-time payment scheme’ thus bringing the total number of companies which have opted for this scheme to five.

During the last week, equity shares of Isibars, Binani Industries, Krishna Filaments, Shree Cements and Indian Rayon Industries have been made available for dematerialistaion. Trading in the mutual fund unit of Morgan Stanley Growth Fund will commence from Wednesday on the NSE.In the meantime, the value of securities dematerialised in the past two weeks increased by Rs 1,138 crore, thus making the total value of dematerialised securities at NSDL to Rs 6,626 crore.The total value of securities dematerialised so far is Rs 93 lakh. Dematerialisation in Hindaclo Industries as percentage of its market capitalisation has crossed 10 per cent.

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