Stock Manipulation
Unquoted: Kailash Auto Finance

Regulators sleeping in their ivory towers, the company’s share price has rocketed a humungous 270% between 17 January 2013 and 6 December 2013, from Rs11 to Rs40.65.

According to the BSE’s website, Kailash Auto is supposedly into ‘miscellaneous commercial services’ whatever that means. It has flouted listing norms, for which it got suspended by the BSE in February 2009, as well as shareholding disclosure and corporate governance norms.
Strangely, in March 2009, just a little over a month after the company was suspended, BSE revoked the suspension. The auditors’ report of 2011-12  noted that accumulated losses exceeded half of the company’s net worth. During the past four quarters, from December 2012 to September 2013, Kailash Auto reported erratic net sales of nil, Rs34 lakh, Rs16 lakh and Rs20 lakh, respectively. Its net profits for the same quarters were even more erratic, starting with a net loss of Rs73,000, followed by net profits of Rs9 lakh, Rs2 lakh and Rs9 lakh. But, with the regulators sleeping in their ivory towers, the company’s share price has rocketed a humungous 270% between 17 January 2013 and 6 December 2013, from Rs11 to Rs40.65.



Suiketu Shah

3 years ago

Great that ml is informing readers about some undesirable companies to buy stocks of.Noone else reports this in the media.Well done.

Sensex, Nifty on a rallying mode: Weekly closing report

Nifty has to hold above its weekly low for the upmove to continue

The Sensex rose 364 points (up 1.76%) during the week that ended on 21st December and closed at 21,080 while the Nifty closed at 6,274 (up 106 points or 1.72%).


Market closed in the negative for the fifth consecutive trading day on Monday. The inflation data added to the worries about the possibilities of the Reserve Bank of India (RBI) raising the key rates. Inflation based on the WPI accelerated to 7.52% in November 2013, from 7% in October 2013, data released by the government. WPI for September 2013 was revised upwards to 7.05% from 6.46% reported earlier.


On Tuesday the market opened with full optimism after the US economic data indicated solid improvements in business activity across the country. The market awaited major triggers, Reserve Bank of India mid-quarter monetary policy review and the Fed’s two-day meeting, which were to come in the next two trading days. The market continued closing in the negative.


On Wednesday the market cheered the RBI surprise move of keeping the key rate unchanged. This broke the six days of falling trend.


However on Thursday the market again closed in the negative after the US Federal Open Market Committee’s came out with its plan to cut its monthly bond purchases to $75 billion from $85 billion. 


Post the US stance the finance minister P Chidambaram came out with a statement saying  "(The) government is of the view that the markets had already factored in the US Federal Reserve's decision and therefore is not likely to be surprised by these moderate changes," Chidambaram said in a written statement released by his office. Chidambaram also spoke to Reserve Bank of India Governor Raghuram Rajan on Thursday morning to discuss the Fed tapering, the statement added.


On Friday the market closed in the positive after the Sensex hit a seven day high and the Nifty hitting a six day high.


The top two gainers among the other indices on the NSE were IT (6%) and Pharma (5%) while the bottom two losers were Bank (-1%) and Finance (0%).


The top five among Nifty for the week were D L F (8%); BHEL (7%); Ranbaxy Lab (7%); Maruti Suzuki (7%) and Cipla (7%) while the bottom five losers were H D F C Bank (4%); Jindal Steel & Power (4%); Kotak Mahindra Bank (3%); Ultratech Cement (3%) and Grasim Industries (1%).


Of the 1,242 companies on the NSE, 773 companies closed in the green, 420 companies closed in the red while 49 companies closed flat.


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


Top ML sector


Worst ML sector


Software & IT Services




Foods & Beverages










Industrial Intermediates


Real Estate






Jayanthi Natarajan resigns as environment minister

Reportedly Jayanthi Natarajan is expected to be drafted in Congress for work relating to party manifesto and other election matters

Jayanthi Natarajan, the union minister of state for environment and forests has resigned as part of a shake-up within senior leadership in Congress. She would be reportedly drafted into party work ahead of the Lok Sabha polls.


The resignation of 59-year-old Natarajan has been accepted by the President, a Rashtrapati Bhavan communique said.


It also said that Oil Minister M Veerappa Moily will hold additional charge of the Environment Ministry.


Natarajan, a senior member of Rajya Sabha for the third term, hails from Tamil Nadu and was brought in the ministry two years ago.


Sources said she would be drafted in party for work relating to manifesto and other matters.


Sources said there could be some more ministers who could resign to be brought to party organisation in preparation for the election.



Dr Anantha K Ramdas

3 years ago

Ms Jayanthi Natarajan's decision to leave the Ministerial post and work for the party may be laudable for those in the Congress party.

It was reported, several months ago, that Jayanthi Natarajan had claimed that "there are no pending environmental issues, on her table". This may be so, simply because the "papers " were passed on to others. We have heard of "passing the buck" before, too.

Before she really leaves, and dumps the job on Veerappa Moily, could she please list out the "outstanding" issues i.e. of cases that need various clearances, in departments and at state levels, where the "cases" concerned on "pending?" for clearance?

Unless, of course, Moily wants to open the desk and find that he is looking at the Pandora's box?

If Coal India's units, and other organizations that need MOEF clearances,have cases pending for years on end, someone is responsible. Could Ms Natarajan clarify these
"pending" issues?

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