Last week’s trading halt at India’s biggest stock exchange highlighted an unusual feature in the country’s equity market - many of its companies are listed on two venues.
Reliance IndustriesLtd., Infosys Ltd. and HDFC Bank are among the firms that call both the National Stock Exchange of India Ltd and BSE Ltd. home. While businesses often list their shares in more than one jurisdiction, doing so domestically is rare. India’s practice goes back to NSE’s debut in 1994 as a corporate exchange that was thought to bring in better governance to the country’s capital markets, according to Sankarshan Basu, a finance and accounting professor at the Indian Institute of Management, Bangalore.
