Stories of price manipulation
Grandma Trading & Agencies (Rs285)
Grandma Trading & Agencies Ltd is supposedly into commodities trading and distribution. The company was suspended by the BSE for non-compliance with listing 
norms in 2007.
However, the suspension got revoked in 2011. It also failed to comply with Clause 35 of the listing agreement during the September 2010 quarter. Its fundamentals are pathetic.
During the previous four quarters, it recorded erratic net sales—Rs18 lakh, Rs12 lakh, Rs90 lakh and zero sales, respectively—starting with the September 2012 quarter up to June 2013 quarter. However, during the same period it somehow managed to pile on profits of Rs13 lakh, Rs6 lakh, Rs32 lakh and Rs23 lakh. The trajectory of the share price of such a dubious company is, of course, another matter. The stock price rocketed 1804%—from Rs15 to Rs286—between 4 April 2012 and 22 October 2013. Of course, BSE couldn’t care less and SEBI is busy trying to come up with flimsy ways to stop price manipulation, ignoring such glaring cases of rigging.
Inside story of the National Stock Exchange’s amazing success, leading to hubris, regulatory capture and algo scam
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