Stock Manipulation
Stock manipulation: Vitan Agro Industries

Vitan Agro Industries shot up by 1465% between July 2014 and December 2015

 

Vitan Agro Industries is into “trading of agro-based consumer goods such as pulses, grains, etc.” According to its annual report of FY14-15, it plans to venture into delivering packed lunches to companies, educational institutions, IT hubs, etc, on contract basis, and own, manage and run hotels and restaurants. For this, it has acquired two companies. 
 
Despite its bold business plans, as on 31 March 2015, there was only one employee on the rolls of this Chennai-based company! In the four quarters ended September 2015, it reported revenue of Rs5.34 crore, up 62% from Rs3.29 crore in the same period last year. The profit remained the same, at Rs0.31 crore, in both the years. 
 
However, the price movement of the stock has been stunning. It shot up to Rs15.65 on 16 December 2015 from Re1 on 17 July 2014, an eye-popping gain of 1,465%! There was hardly any trading activity prior to September 2014. When it started rising, the stock was constantly locked in the upper circuit. By 8 June 2015, the price was up 3,544%. to Rs36.44. This is when the reversal started. Over the next six months, the price was locked in the lower circuit on almost every trading day. The price has fallen nearly 57% from the peak, over this period. Vitan Agro has around 600 registered shareholders. Will the regulator investigate this ‘pump & dump’ operation? 

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International trade helps spread infectious diseases
Besides opening up new vistas for humans, ranging from travel to exotic places to enjoying the products and services of those distant lands, international trade and travel also increases risk of spreading infectious diseases, a study says.
 
"The more trade grows as a proportion of global production, the more likely it is that diseases will be spread through trade, and the higher the economic cost of resulting trade bans," said researcher Charles Perrings, professor of environmental economics at Arizona State University in the US.
 
An example of international trade's impact of an infectious disease came in 2001 in Britain when an outbreak of hoof and mouth disease cost some $10 billion and more than two million sheep and cattle had to be destroyed, Perrings said. 
 
More recently, African swine fever -- a much more serious disease of pigs - has been spread in the Caucasus region through trade in pork, pork product or through waste in trade vehicles.
 
"What is at risk is the food we eat, the fibres we wear and build with, and the fuels we burn," Perrings noted. 
 
"In addition many infectious diseases that affect animals also affect people," he added.
 
"Zoonoses like SARS, MERS, HIV AIDS, or highly pathogenic avian influenza, all originated in wild animals and were then spread person to person through trade and travel," he explained.
 
Perrings said current instruments to control infectious diseases are far from adequate.
 
"There are two problems to address," he said. "One is that disease spread is an unintended (external) effect of trade. To solve this problem exporters and importers need to be confronted with the risks they impose on consumers."
 
"The other is that the control of infectious disease is a public good - the benefits it offers are freely available to all, and so will be undersupplied if left to the market," he explained. 
 
"To solve this problem we need to undertake cooperative, collective control of infectious diseases at the source," Perrings said.
 
The study appeared in the journal Food Security.
 
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.

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Gangsters gun down policeman in Delhi court
A policeman was killed when four gangsters sneaked into a court in east Delhi and fired at a member of a rival gang, leaving him injured, police said.
 
Head Constable Ram Kumar took bullets in his head and chest and collapsed dead in the premises of the Karkardooma court when the gunmen fired at Irfan, who was their target.
 
"The killer gang entered the court and opened fire when they saw Irfan. He was injured and has been hospitalized," Joint Commissioner of Police (Eastern Range) Sanjay Beniwal told IANS.
 
"Unfortunately, the policeman accompanying Irfan got killed," he said. "Irfan belongs to another (criminal) gang.
 
"Other policemen in the court caught hold of three of the four killers but one got away," Beniwal added.
 
Police said the firing took place when prisoners under trials were being produced in court room no. 73 around 11.30 a.m.
 
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.

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COMMENTS

Subramani P K

1 year ago

It was unfortunate the police constable lost his life protecting a criminal from another gang. Though his bravery is admirable he sacrificed his life for the sake of a criminal is really sad. All criminals to which ever gang they belong are to be done to death by encounter by police as criminal cases in courts take very long time for decision & most of them are released on bail to continue their criminal activities. Most of the cases they get political back up to escape also.

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