Exdon Trading Company Limited has risen 6587% in a little over a year.
Exdon Trading Company Limited (ETCL) deals with shares, securities, debentures and other investments in India. Over the past few years, according to ETCL’s management, it has not been in a position to generate any revenue from operations. Surprisingly, without any revenue from operations and several quarters of continuous loss, the stock price of ETCL has risen over the past one year; it increased by 2% each day that it has traded, with just about two trades a day. As the chart shows, it is a smooth curve upwards. Over the past one year, the price has increased by 6,587%, or 67 times, to hit Rs296.25 on 28 November 2014 from Rs4.43 on 3 October 2013. The stock clearly stinks of manipulation which could have easily been curbed had our regulators been alert. In 2008, ETCL was fined for non-disclosure of shareholding pattern and, in 2010, it was involved with insider trading activities but was let off by the regulator after it paid a fine of Rs12 lakh through a consent order.