Stock manipulation: Nutricircle
Moneylife Digital Team 21 June 2017
Nutricircle Limited, formerly known as Shreeyash Industries Limited, claims to be into healthcare, cosmetics and agriculture. For FY14-15 the company recorded no sales, while for FY15-16, the sales were Rs23 lakh. For the March 2017 quarter, the sales were Rs47 lakh. According to the annual reports, all of these sales, come from nutraceuticals products. 
According to the company’s website, it sells a nutritional cereal, Quinoa. The company informed the Bombay Stock Exchange (BSE) that the soft launch of its new products under the brand name ‘GONOURISH’ has been well received and has been recommended as a healthy breakfast by over 476 dieticians. For the March 2017 quarter, the sales were Rs47 lakh and the net profit was Rs17 lakh. Between June 2014 and December 2016, the company made no, or negligible, sales.
At the current prices, the stock is trading at a price-to-earnings ratio (P/E) of 92. In FY15-16, Nutricircle reduced its share capital to Rs27 lakh, from Rs5.44 crore in FY14-15. The promoters hold no shares in the company. The reserves of the company stand at negative Rs88 lakh. Even with such poor fundamentals, the share of the company rose by over 11 times to its 52-week high of Rs71.35 on 5 May 2017, from its 52-week low of Rs6.01 on 20 June 2016. Within just four months, it was up almost five times, from Rs13.12 on 3 February 2017 to Rs64.65 on 8 June 2017. Are there some investors who are overly optimistic or is it due to rampant speculation? 
Gaurav Chauhan
5 years ago
It's definitely a scam, price inflation must be the result of such kinds of sms are being circulated.

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Review wala
5 years ago
100 percent scam ..never buy
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