Readings: India’s super-rich, Business journalism, Demat accounts
- CS Monitor: India’s superrich get even richer
India’s 40 wealthiest businessmen are worth $351 billion, according to Forbes – easily the most in Asia. Its four richest – steel tycoon Lakshmi Mittal, Ambani, his brother Anil Ambani, and Mr. Singh – hold more than half that sum.
. . . only 3 million Indians – from a working-age population of 321 million – hold stocks. A further 3.5 million hold stocks through mutual funds.
There are currently 4 million households that make more than $10,000 a year – one marker of fitness for investing, she says. In the next five years, that number is expected to more than triple.
“In my world, short-sellers can have some of the best information and are often smarter than the rest; they have to be because they’re betting against the crowd. For that very reason, they can be a lightning rod for controversy, as companies try to allege that there simply must be something nefarious. Yet nobody raises a fuss when reporters talk to people who are long stocks that might already be overly hyped.”
“The idea is community and information, not the equivalent of a public message board, which can resemble a cesspool. And while I don’t shy away from critical comments, and in fact encourage them (and often respond to them) I won’t accept the online equivalent of a heckler who won’t give up after a post or two.”
- Business Standard: Five states hold 60% of total demat accounts
62.8% of the demat accounts are in the five states – Maharashtra, Gujarat, Delhi, Tamil Nadu and Karnataka.
As of September 2007, NSDL had 6.57 million demat accounts. Since then, one lakh new accounts are being opened monthly. Central Depository Services (CDSL), the other depository, has 3.5 million demat accounts as of date.
Maharashtra leads the number of demat accounts with 22% share, followed by Gujarat with 18% share.
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