Stories of price manipulation
Wisec Global (Rs10)
The company is supposedly into finance. It has been censured by the Reserve Bank of India (RBI) and the BSE for various infringements. On 29 November 2010, RBI had 
warned that the company was collecting unauthorised public deposits. Wisec’s 2011 annual report revealed that the company is yet to make good the claims of some of the depositors. Its 2012 annual report is not available on the BSE’s website and the company does not have its own website. Earlier, on 2 December 2009, the BSE suspended the company for failure to comply with the listing agreement. However, the suspension was revoked in a matter of weeks, on 11 January 2010. The fundamentals are dismal. Even though it reported consistent sales in the past eight quarters, it reported losses in seven out of the past eight quarters. Yet, the share price of the company tells a different story. It has gone up 202%, from Rs3.20 on 24 December 2012 to Rs9.65 on 18 September 2013. Of course, the BSE and SEBI are not bothered about any of this.
Inside story of the National Stock Exchange’s amazing success, leading to hubris, regulatory capture and algo scam
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