Stock Manipulation
Unquoted: Bervin Investment and Leasing (Rs16)

Stories of price manipulation

 

According to the company’s website, Bervin Investment and Leasing Ltd is a non-banking financial institution with ‘investment activities’ as its principal business. But it has practically no business. Bervin has had virtually no revenues since September 2011 and has recorded losses in four of the past six quarters; somehow, it made Rs15 lakh profit in...

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Unquoted - Smilax Industries (Rs20)

Smilax Industries (Rs20) 

 

Known as Wyn Aqua Exports Ltd until 25 June 2012, Smilax Industries Ltd is supposedly into food packaging. However, according to the BSE website, the company does not have a website nor has it published any annual report after 2010. Smilax was almost wound up a few years ago but was given relief by Andhra Pradesh High Court. Earlier, the company had...

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Unquoted - Provestment Services (Rs119)

Provestment Services

(Rs119)

 

The company is supposedly into a variety of businesses, from foreign exchange to packaging. In 1999, the company failed to renew its category II merchant banking licence which was cancelled by SEBI. The company’s net profit during the past four quarters was pathetic: Rs2 lakh for the March 2012 quarter, Rs7 lakh for the June 2012, Rs6 lakh for the...

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