Nearly 40 per cent of the shares of companies listed on the Bombay Stock Exchange (BSE) have not been traded in the last five years.
Data with the Business Standard Research Bureau shows that of the 6,202 companies listed on the BSE in 1997, 2,485 companies were not traded at all in five years. Many of these companies have either been suspended by the BSE for not paying listing fees or for violating the listing requirements.
Of all the listed companies, the shares of only 8 per cent (500 companies) have seen uninterrupted trading in the last five years. The srcips of 1,020 companies have not been traded for more than 200 days in each of these five years.
The shares of around 850 companies have not been traded between 150 days and 200 days in each year while the shares of around 500 companies have not been traded between 100 days and 150 days in each year.
The number of companies whose shares were not traded at all increases every year. Around 155 stocks were not traded in 1998, 2,026 stocks were not traded in 1999, 2,178 in 2000, 2,910 in 2001 and 3,553 in 2002.
Most non-traded stocks are penny stocks. Of the 2,485 stocks not traded for the last five years, 494 were last traded at below Rs 5 in 1998 and about 900 were traded at between Rs 5 and Rs 10. Around 450 stocks were traded at between Rs 10 and Rs 15.
Among the valuable stocks not traded in the last five years are Vishnu Sugar (last quoted at Rs 13,000), Neena Consultancy (Rs 2,000), United Motors (Rs 565), Paran Ltd (Rs 332.50), SLM Maneklal (Rs 295), Khatau Mills (Rs 220) and Swan Mills (Rs 205).
