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Investor awareness programme

By Our Corporate Reporter

CHENNAI SEPT. 27. The Madras Stock Exchange conducted an investor awareness programme "empowering investors through education" under the aegis of securities market awareness campaign of SEBI, today. In his inaugural address, P. S. Ramamohan Rao, Governor of Tamil Nadu, said originally when the programme was kick started in January this year by the Prime Minister, the stock market was in the grip of bears. But the investor awareness programme was taking place now when the stock market was on a bull run. Now it was the question of cautioning the investor not to be led by greedy, he said.

Of course it was true that Indians had great expertise in dealing with money long before others, the Governor said.

Even the Britishers, who set up East Indian Company 400 years ago in India, had to learn a lot from Indians.

Basically stock exchanges were meant to raise capital and provide liquidity to investment. They were not used for speculation. Informed speculation, where the risk was properly assessed was allright, the Governor said.

Before buying shares, investors should go by criteria such as PE multiple, return on networth and return on capital employed to assess the risk properly, he said.

Earlier in his keynote address T. M. Nagarajan, wholetime Member, Securities and Exchange Board of India (SEBI) listed the initiatives taken to regulate stock markets. The risk management system, put in place in Indian stock markets, was virtually second to none in the world, he said.

Later in the technical session G. Ramachandran, Financial Analyst and A. K. Narayan, President Tamilnadu Investors' Association spoke about empowering investors through education. P. L. Lakshmanan, Financial Consultant covered Indian derivative markets in his address.

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