Stock Manipulation
Stock Manipulation: Venus Universal
Venus Universal has shot up by 3200% in a year even though over four quarters, it has reported revenues of Rs2-Rs8 lakh each with negligible profit. The regulators couldn’t care less about such brazen manipulation
 
Venus Universal was earlier into the business of offering software solutions. In 2007, the name of the company was changed from VEL Software to Venus Universal. At present, the main source of revenue is from “sale of electrical contracts”. It also apparently runs a portal which contains the details of eye surgeons, eye banks, etc. However, the site does not throw up any name for a simple search for an eye surgeon in Mumbai. Over four quarters, Venus has reported revenues of Rs2-Rs8 lakh each with negligible profit. It has been suspended in the past for not complying with the listing agreement. But its share price indicates it has hit a goldmine! The stock has shot up from Rs0.02 on 17 September 2013 to Rs0.66 on 15 September 2014—a rise of 3200% in a year! This rise has been on an average of seven trades a day. But perhaps this is not rampant stock manipulation according to the Securities and Exchange Board of India.

User

India beats Pakistan in penalty shootout to win Gold in men's hockey

Indian men's hockey team, with this win over arch-rival Pakistan, had also qualified for 2016 Rio Olympics

 

India on Thursday beat Pakistan in a penalty shootout to win gold in men’s hockey in the Incheon Asian Games. With this win, Indian men's hockey team also qualified for 2016 Rio Olympics after winning gold in Asiad. Indian women 4x400m relay team also won gold in the Asian Games.

 

This was the 160th match between the teams. At the Asian Games it was 13th meeting with three victories for India, two drawn and eight defeats.

 

Here is the sequence of Penalty Strokes...

1st : India 1 - 0 Pakistan (Akashdeep Singh)

2nd : India 1 - 0 Pakistan (Muhammad Irfan)

3rd : India 2 - 0 Pakistan (Rupinder Pal Singh)

4th : India 2 - 1 Pakistan (Muhammad Waqas)

5th : India 2 - 1 Pakistan (Manpreet Singh)

6th : India 2 - 1 Pakistan (Muhammad Umar Bhutta)

7th : India 3 - 1 Pakistan (Birendra Lakra)

User

Nifty, Sensex will move sideways – Weekly closing report

Nifty may move in a narrow range between 7850 and 8000

 

The S&P BSE Sensex closed the week that ended on 1st October at 26,568 (down 58 points or 0.22%), while the NSE's CNX Nifty ended at 7,946 (down 23 points or 0.29%). Last week, we had mentioned that the Nifty could rally until 8,100 as long as it does not go below the last week’s low of 7,841. Although this week, the index did not cross the level of 7,841, the benchmark was directionless


Following a volatile session, Nifty closed marginally lower on Monday. Nifty closed at 7,959 (down 10 points or 0.12%). Prime Minister Narendra Modi, who was on his five-day official visit to United States starting 26 September 2014, was due to meet US President Barack Obama at the White House on 29-30 September 2014. Market waited for the Reserve Bank of India (RBI) bi-monthly monetary policy review on Tuesday.


In line with what we anticipated on Monday, most of the session the Nifty moved sideways on Tuesday, except for volatility observed in the afternoon session. Nifty closed at 7,965 (up 6 points or 0.07%). As was widely foreseen RBI kept the key rates unchanged. The RBI in its fourth bi-monthly credit policy review kept repo, reverse repo, cash reserve ratio and bank rate unchanged.


Data released by the government after trading hours on Tuesday, showed that eight core industries, comprising nearly 38% of the weight of items included in the index of industrial production (IIP), grew 5.8% in August 2014 up from 2.7% growth posted in July 2014.


Against what we mentioned on Tuesday, the Nifty closed lower on Wednesday following the weak data from the US. Nifty closed at 7,946 (down 19 points or 0.24%). Confidence among US consumers fell to a four-month low in September as Americans' views of the labour market deteriorated.


Fitch said India's growth is expected to accelerate to 5.6% in the current fiscal and further to 6.5% in 2015-16, buoyed by strong investments and political certainty.
The Indian stock exchanges remain closed on Thursday on account of Mahatma Gandhi Jayanthi and again on Friday on account of Dussehra.


For the week, among the other indices on the NSE, the top two performers were IT (3%) and Media (3%), while the worst two performers were Realty (3%) and Metal (2%).


Among the Nifty stocks, the top five stocks for the week were Sun Pharma (7%); Wipro (5%); Infosys (5%); Zee Entertainment (4%) and Tata Consultancy (3%) while the top five losers were DLF (7%); Jindal Steel & Power (7%); Tata Steel (5%); Tata Power (4%) and IDFC (4%).


Of the 1,499 companies on the NSE, 785 companies closed in the green, 663 companies closed in the red while 51 companies closed flat.


Out of the 27 main sectors tracked by Moneylife, top five and the bottom five sectors for this week were:

 

ML Top sector

 

ML Worst sector

 

Consumer Durables

4%

Real Estate

-4%

Pharma

4%

Steel

-2%

Software & IT Services

3%

Non-Ferrous Metals

-2%

Sugar

3%

Oil & Gas

-2%

Media

3%

Banks

-2%



 
 

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)