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Regulations 2016: Mediclaim Policyholders’ Rights
Health Insurance Regulations (HIR) 2016 addresses the issue of mediclaim policyholders’...
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Institutional Buys and Sales in June quarter
Ownership of foreign portfolio investors (FPIs) in the BSE-200 Index rose by 6.87%, to US$311...
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Stock manipulation: Agri-Tech (India)
Agri-Tech (India), earlier a part of Nath Seeds, is into ‘horticulture business’, as per its latest annual report. 
 
However, this micro-cap stock has not generated any significant revenue over the past few years. For the year ended June 2016, the Aurangabad-based company reported revenues of just Rs7 lakh compared to sales of Rs8 lakh reported a year ago. It reported a net loss in eight of the past 10 quarters. Strangely, a few months ago, a strong interest developed in the stock, despite its poor financials. From just about 1-10 shares traded a day over the past year, in July and August 2016, the number of shares traded averaged about 100 per day. The result? 
 
In just over a month, the stock price shot up 347%, from Rs10.39 at the beginning of July 2016 to a peak of Rs46.45 on 18 August 2016. The stock consistently hit the upper circuit limit of 5% on the BSE.  The euphoria did not last long as in all ‘pump and dump’ operations; the stock price soon crashed. Even though the stock is now down 40% from the peak, to Rs28 on 22 September 2016, it is still up 483% from a low of Rs4.8 on 28 April 2015.

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COMMENTS

Ramesh Poapt

5 months ago

Nath seeds and its other co;s holds similar past story.

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