Vaarad Ventures shot up by 788% between April 2015 and February 2016
Vaarad Ventures (initially known as NHN Corporation and later as Atco Corporation) is, currently, an investment company which conducts business through its subsidiaries. Its four subsidiaries are into packaged drinking water, software development, industrial publications and consultancy. Apart from investments in these unquoted subsidiaries, Vaarad Ventures has investments in Atcom Technologies, Smart Sensors & Transducers, Kimaya Shoppe and Kimaya Wellness. The small-cap stock reports its consolidated revenue on an annual basis. In FY14-15, Vaarad Ventures reported revenues of just Rs48 lakh, compared to revenues of Rs87.14 crore reported in FY13-14. The company reported a consolidated loss of Rs1.02 crore in FY14-15 compared to a loss of Rs2.19 crore in FY13-14. Despite such poor financials, its stock price shot up by 788%, or over 8 times, in less than a year, to Rs22.20 on 19 February 2016 from Rs2.5 on 17 April 2015. Over this period, the stock has often reported just two or five trades in a day. Vaarad Ventures was pulled up by the regulator in June 2013 for not complying with the minimum public shareholding requirement. Market manipulation continues with impunity right under the nose of the regulators.
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