 "Jhunjhunwala bullish on RTA business")
Rakesh Jhunjhunwala, the ‘big bull’ of Dalal Street, believes the corporate registry business is a good place to be in the days ahead. These companies provide centralised record-keeping of company shares. Jhunjhunwala says they've greatly helped the cause of the Indian shareholder in recent years. “A lot of my friends had shares in double names.” he said.
He spoke at an event that corporate registry firm Link Intime had organised. The company on Friday announced the launch of applications which allowed its clients to check registry-related information on their mobile phones. Jhunjhunwala suggested the business has much more growth likely in the days ahead.
“I think they are in a very good position. The volume of business for share registration is going to go through the roof. Not even one per cent Indians hold demat accounts. And, I don’t think new players are going to be born. So, think of a market whose size is going to expand and the number of players are going to…(be the same)…Of course, it’s not listed,” he said.
The total number of demat accounts in the country are 23.44 million, according to the Securities and Exchange Board of India’s latest (April) bulletin. The country's population was 1,250 million as of 2013. This would put demat penetration at less than two per cent of the population. However, experts say the actual investing public’s figure is lower, as there are also multiple accounts with the same person, and many demat accounts do not belong to active investors.
He spoke at an event that corporate registry firm Link Intime had organised. The company on Friday announced the launch of applications which allowed its clients to check registry-related information on their mobile phones. Jhunjhunwala suggested the business has much more growth likely in the days ahead.
“I think they are in a very good position. The volume of business for share registration is going to go through the roof. Not even one per cent Indians hold demat accounts. And, I don’t think new players are going to be born. So, think of a market whose size is going to expand and the number of players are going to…(be the same)…Of course, it’s not listed,” he said.
The total number of demat accounts in the country are 23.44 million, according to the Securities and Exchange Board of India’s latest (April) bulletin. The country's population was 1,250 million as of 2013. This would put demat penetration at less than two per cent of the population. However, experts say the actual investing public’s figure is lower, as there are also multiple accounts with the same person, and many demat accounts do not belong to active investors.