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Retail investor going ga ga in east

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Udit Prasanna Mukherji Kolkata
Last Updated : Feb 06 2013 | 8:20 AM IST
Kolkata and eastern India is witnessing a surge in the number of retail investors entering stockmarkets.
 
More than one lakh new active depository accounts has been added in less than one year in the region in the books of NSDL and CDSL.
 
The number of DP accounts in districts like South 24 Parganas and Purulia in West Bengal is close to 50,000 today.
 
The number is around 10,000 in districts like Hughli, North 24-Parganas, Howrah and Mednipur in West Bengal, as well as at towns like Ranchi in Jharkhand, Puri and Cuttack in Orissa and Kamrup in Assam.
 
The former president of CSE, Ajit Dey, said retail investors were coming back in a big way.
 
"I have organised workshops in different districts in last couple of months and the response is tremendous," he said.
 
Naresh Pachisia of SKP Securities agreed with Dey.
 
"Even in places like Bankura district headquarters, people are approaching us for advice on investment in the market. Urban and rural middle class investors are looking forward to invest in the capital market," he added .
 
Ajit Khandelwal of BNK Capital Market feels that the young generation is finding capital market an attractive carrier option as well as a medium for excellent returns on investments.
 
"Youngsters are no longer interested in traditional investment instruments favoured by the middle class," he added.
 
An NSDL official informed that around 75,000 new active depository accounts have been added between February 2004 and January 2005 in the eastern region.
 
According to CDSL, the number of new accounts added during the period was more than 30,000.
 
The NSDL official said there were around 4.12 lakh active depository accounts in the eastern region at present, with West Bengal topping the list with around 300,000 accounts and Bihar second with around 50,000.
 
Most accounts have been added in last two years.
 
"The growth rate is more than 30 per cent," said the official.
 
CDSL officials said it had more than one lakh accounts in the region.
 
According to NSDL, the largest number of depository accounts were added in Kolkata with the last 11 months witnessing 40,000 new accounts.
 
The towns of Purulia, Bardhaman, Patna, Ranchi and Hughli followed in that order as far as new account additions were concerned.
 
The growth in number of DP accounts was more in south Bengal districts compared to North Bengal.
 
In north Bengal, Darjeeling added around 5,500 DP accounts.
 
At the bottom of the pile was West Kameng district in Arunachal near the Tibet border - it had only one DP account, added less than a year ago.

 
 

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First Published: Apr 06 2005 | 12:00 AM IST

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