Insurance
Regulations: Government Offers Discount for Online Insurance
The government is taking several steps towards creating a cashless society. To promote...
Premium Content
Monthly Digital Access

Subscribe

Already A Subscriber?
Login
Yearly Digital+Print Access

Subscribe

Moneylife Magazine Subscriber or MSSN member?
Login

Yearly Subscriber Login

Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation
Stock manipulation: Mipco Seamless Rings

Mipco Seamless Rings Limited is apparently a manufacturer of rolled rings for bearing races. For the past nine years, the company has made no sales at all. It had other income of Rs9 lakh in FY2014-15, expenses of Rs13 lakh and net loss of 6 lakh. This net loss rose to Rs20 lakh in FY15-16 when reserves were negative at Rs5.85 crore; the liabilities were Rs2.62 crore and the share capital was Rs5.58 crore. The assets were just Rs35 lakh. It also has contingent liability of Rs1.98 crore.

Shockingly, the share price of Mipco rose by 1979%—from Rs1.2 on 10 January 2014 to Rs24.95 on 29 May 2015. Since then, it has been declining steadily, whenever it manages to trade (about two-three trades a month). Even at the last trade, it was up 890% from 2014. Will the regulator care to look? 

User

COMMENTS

JAYENDRA PANDYA

4 months ago

STOCK EXCHANGE SHOULD ENSURE SHOULD PREPARE AND PUBLISH LIST OF SUCH COMPANIES AND MAKE IT AVAILABLE ON WEB PORTAL SO INVESTORS CAN HAVE ACCESS TO DATA OF SUCH COMPANIES & TAKE PRECAUTION BEFORE INVESTMENTS

JAYENDRA PANDYA

4 months ago

STOCK EXCHANGE SHOULD ENSURE SHOULD PREPARE AND PUBLISH LIST OF SUCH COMPANIES AND MAKE IT AVAILABLE ON WEB PORTAL SO INVESTORS CAN HAVE ACCESS TO DATA OF SUCH COMPANIES & TAKE PRECAUTION BEFORE INVESTMENTS

HDFC cuts interest rates on housing loans
Housing finance major Housing Development Finance Corporation Ltd (HDFC) on Tuesday announced reduction in its floating loan interest rates by 45 basis points for women and 40 basis points for others.
 
In a statement, the company said loans up to Rs 75 lakh for women would be charged an interest rate of 8.65 per cent for women and 8.70 per cent for others.
 
In case of loans over Rs 75 lakh, the interest rate will be 8.70 per cent for women and 8.75 per cent for others.
 
The new interest rates are applicable from January 3, 2017.
 
"Over the past couple of months, we have seen a drop in our marginal cost of funds, and as always, the HDFC has ensured that benefit is passed on to its customers," Renu Sud Karnad, Managing Director, was quoted as saying in the statement.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)