Television

BSE, NDTV in joint initiative for live ticker, video screen

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MUMBAI: Prannoy Roy's NDTV has pulled off a market positioning coup with the unveiling this morning of BSE Broadcast, a joint initiative between the news media major and the Bombay Stock Exchange.

The front facade of the BSE building in south Mumbai's Fort area will now show a stock ticker that will display all the indices at the BSE as well as individual stock information till 8 pm daily. Additionally, a large videoscreen put up below BSE's live ticker will continuously beam business channel NDTV Profit.

The ten-year deal involves NDTV Media providing the technology for the Indian version of New York's Times Square.

While lauding the effort as "an overdue initiative to enable the man in the street to read the writing on the wall", Securities Exchange Board of India (Sebi) chairman M Damodaran used the occasion to send across a tough message to sections of the electronic and print media against what he termed as "agenda driven attempts being passed off as information to the unsuspecting".

"If you look at what is coming out in the media, it is personal involvement masquerading as informed advice. We will find a way to deal with that in the interest of the average investor," Damodaran said.

Roy said: "All stock markets must have transparency, credibility and provide information as widely as possible.

"We are very, very proud at NDTV Profit to be associated with this exercise."

BSE managing director and CEO Rajnikant Patel said the initiative was symbolic of a greater transformation going on in India's capital markets, which were moving towards stronger systems and more transparency and credibility.

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