Stock Manipulation
Unquoted

Empower Industries (Rs32)
Empower Industries is supposed to be in the business of ‘information technology resale and systems integration’. It has entered into a strategic, technical and marketing alliance with HTL Co Japan Limited and also formed a joint venture with US-based SPS Inc. The company’s financials are strange. In the March 2009 quarter, revenues were Rs22.24 crore; but, over...

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Unquoted

Chandrika Traders
New Delhi-based Chandrika Traders Limited is supposed to be a non-banking financial company. This stock has been shooting up. Between 17 April 2009 and 31 July 2009, this scrip has surged 263%. Don’t ask about the fundamentals. In the June 2008 and September 2008 quarters, the company posted sales of Rs2 lakh each. In the December 2008 quarter, revenues were zero and...

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