Attached is a list of the current stocks being traded on the NSE, their websites and majority ownerships.
C:\Documents and Settings\williato\NSE Stocks.xls
While putting this list together, a couple of things struck as being part of the reason while we probably don’t as yet have a large stock market and secondary another reason why our economy will take a while to motor forward.
Ownership-with very few exceptions, most of the firms are majority-owned by foreign interests. Of the remainder, many are government owned. This has various implications. Firstly most of the foreign owned companies will obviously be repatriating a large portion of their profit. Secondary, it also means that we are along from creating our own multi-national firms. Thirdly, having so many others where the government has influence means political patronage will continue to flourish as will economic inefficiencies.
Internet sites: Many don’t have websites i.e. have a mentality that is still stuck to the 1950s way of doings things. For me, a business will only succeed if it’s not only adapting to or pioneering modes of doings in a society, but uses all the channels that are its disposal to market its products and expose itself to a wider audience. Those that do have websites are still using them for very limited purposes and yet they call themselves commercial entities!
Paucity of information: getting hold of a lot of this information was difficult. If CMA and NSE were playing their role, I should have just been able to go to their websites and pull up the information.