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Fundamental Analysis of Power Sector

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1.1 INTRODUCTION ABOUT SGSSL

The South Gujarat Shares and Share brokers Ltd. (SGSSL) was started with authorized share capital of Rs. 3 crores and it’s paid up capital 1.27 crores under the company Act 1956. In 1992, The Company started its activities as association of person as sub broker giving service for buying and selling of securities to investors in Surat. Mr. Anil Choksy, Mr. Ashok Mehta, Mr. Jagdish Patel, Mr.Paresh Jhaveri Who took initiative to forming a limited company, So as become member of NSE India .In this way SGSSL was registered under company Act on the 5th January 1995, and conducted it’s trading business as member of National Stock Exchange. 31st march 1995 which was first financial year completed by the company after its registration & in this year the company suffered a loss of Rs.80000 due to heavy expenses like assets purchase, maintenance, establishment of building, furniture etc. The company had also faced loss in next financial year (1995) of RS.118000 because of prevailing poor market condition. During the year ended 31st march, 1997 the company has turned the table. On the total income of Rs. 45,80,000, the company made a net profit of Rs.3,70,000 and after adjusting the losses of Rs. 1,98,000, the Net Profit shown to the Balance Sheet was Rs. 1,78,000. On the 27th February 1996, the company obtained SEBI registration as broker. Originally the operation was started at Baroda because at that time National Stock Exchange not providing connectivity in Surat. When connectivity was started, it shifted in Surat at 23rd July 1996 at Belgium Chambers. At Belgium Chambers the company has huge space for smooth operation approximately 5500 sq.ft. In the next year 1998 the company has taken approval from National Security Depository Ltd. (NSDL) to work as Depository Participant (DP). In the

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