Cindrella Hotel’s stock price rose by 279% in little over a year. How?
Cindrella Hotels (Rs49)
Cindrella Hotels, which is suppsoedly into hospitality, runs a four-star facility hotel—The 
Cindrella Hotel—in Siliguri. BSE found that the company had failed to disclose its shareholding pattern for the December 2010 quarter under Clause 35 of the listing agreement. We could not locate the company’s latest annual report either on the company’s website or on the BSE’s. In fact, BSE had only the 2010 and 2011 annual reports.
As expected, the company’s fundamentals were erratic. It reported net sales of Rs73 lakh, Rs1.07 crore, Rs93 lakh and Rs89 lakh for the December 2012, March 2013, June 2013 and September 2013 quarters, respectively. For the same periods, the respective net profits were just Rs4 lakh, Rs11 lakh, Rs8 lakh and Rs1 lakh. Yet, the company’s share price rocketed 279%, from Rs12.86 to Rs48.80, in a little over a year up to 18 December 2013. And right under the nose of the regulators!
Inside story of the National Stock Exchange’s amazing success, leading to hubris, regulatory capture and algo scam
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