CM inaugurates centenary function of CSE

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Kolkata, Jun 24 (UNI) West Bengal Chief Minister Buddhadeb Bhattacharjee today inaugurated the centenary function of Calcutta stock exchange, one of the oldest stock exchanges in the country.

Hailing the event, that marked the exchange's revival under a new management, the Chief Minister hoped the CSE would be an improtant component of the fast progressing industrialisation process in the state.

Indusries and Commerce Minister Nirupam Sen besides a host of captains of industry in the country were present on the occasion.

The Chief Minister also unveiled 'Down Lyons Range', a book on 100 years' history of CSE.

CSE Chairman Udayan Bose said with support coming from different quarters, the exchange would learn from the mistakes made in the past and move towards a bright future.

Observing that the event could not have occurred at a better time when West Bengal was on the verge of Industrial Resurgence, CSE Centenary Committee Convenor Sanjay Budhia called upon all to join hands to bring in a socio-economic change in the state.

CSE successfully completed its demutualisation process in August 2007 with new shareholders investing Rs 103 crore towards 52 per cent of it. In December, last year, a new Board of Directors took charge.

CSE was founded in 1908 and was registered as a Limited Liability Company in 1923 under the Indian Companies Act 1913. It was granted recognition as Stock Exchange in 1957. It was one of the leading bourses in the country along with BSE prior to the formation of NSE in 1990s.

The exchange has a total strengthof 945 members and the total number of companies listed on the Exchange is more than 2800.

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