Bid to reactivate Magadh bourse

PATNA, July 18: The Magadh Stock Exchange (MSE), which once buzzed with activity, wears a deserted look today. Ominous signs put a question mark on the business of the exchange.

As of now, there are only 100 brokers who visit the ring along with their assistants. The exchange has a total of 189 brokers registered with it of which only 44 are entitled to trade currently. To add to these dismal figures, only 20 of the 44 brokers trade actively.

The reason for the poor strength at the exchange is certainly not the bearish trend but, as the president of MSE, RN Pandey puts it, "there are certain problems and we are trying to solve it."Unbridled speculation and sale of fake share certificates were given a Nelson’s eye by the previous management, claims Pandey, the newly inducted president of the MSE.

Following such misappropriation of certificates, a number of brokers were blacklisted.