The Forum of Free Enterprise is a non-political organization founded in 1956 by A. D. Shroff has been established to educate public opinion in India on free enterprise and a democratic way of life. The Forum publishes booklets to further its objects. The following booklet titled ‘Reflection on the Changing Scenario of the Indian Stock Market’ is a book form of a lecture delivered by Mr M.R. Mayya on the auspices of the A.D Shroff Memorial Trust in Bombay. The booklet was published on the 21st of December 1994. The booklet explores the dynamic structure of the Indian Stock Market vis-a-vis global stock markets mainly after liberalisation. Mr Mayya provides the necessary proposal for the various factors and stakeholders involved in the Indian Stock Markets.