Stock market/Exchange is just like any other Consumer Product Market here instead of consumer products stock are traded. SEBI is the controlling authority of Stocks in India. NSE and BSE are the two stock exchanges in India. Two types of markets are there, one is primary where IPO’s bought directly from company and the second one is secondary where the stocks are traded.
The share holders are the owners of the company but they cannot run the business, instead they will appoint the Board of Directors, who runs the business. Share holders cannot control the Directors, they can elect them. Directors are the ultimate decision making authorities.