STOCK MANIPULATION


Moneylife Digital Team 17 November 2011
Stories of price manipulation Karma Industries  (Rs44) From Rs23.10 on 30 April 2010, the share price of Karma Industries zoomed 643% to Rs171.60 on 4 April 2011. Moneylife wrote about this case of blatant rigging in its 5 May 2011 issue. SEBI and BSE continued to sleep and the stock...

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Moneylife Digital Team 06 October 2011
NCL Research & Financial Services (Rs176) Kolkata-based NCL Research & Financial Services is into lending and investing, especially focused on the textiles industry. Its revenues in the past 10 quarters ranged from Rs3.79 crore in the March 2009 quarter to Rs13 lakh in the September 2010...

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Moneylife Digital Team 22 September 2011
Le Waterina Resorts & Hotels (Rs9) Hotels was incorporated in July 1987. The company is supposed to be in promotion and construction of apartments for the middle- and lower-income groups in Tamil Nadu. Well, this listed firm reported revenue of Rs1 lakh in the quarter ended March 2009...

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Moneylife Digital Team 08 September 2011
Stories of price manipulation Beryl Drugs (Rs33) Indore-based Beryl Drugs apparently sells branded, generic pharmaceutical formulations in India and in the global market. Beryl also claims to offer R&D, and contract manufacturing for pharma companies. Balderdash. Revenues in the...

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Moneylife Digital Team 25 August 2011
Stories of price manipulation Hindustan Everest Tools (Rs46) The company was incorporated in 1962 as Hindustan Dowidat Tools to manufacture high-quality hand tools. After all these years, its revenues were just Rs11.05 crore in the March 2011 quarter. However, its operating profit...

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Moneylife Digital Team 11 August 2011
Stories of price manipulation Ashiana Agro Industries (Rs3) Rajasthan-based Ashiana Agro Industries was incorporated in June 1990. The company has sold its edible vegetable oil plant & machinery and has not undertaken any manufacturing activities since 2006-2007. It has primarily...

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Moneylife Digital Team 28 July 2011
Stories of price manipulation Parsharti Investment (Rs36) Mumbai-based Parsharti Investment is supposed to be engaged in the capital markets & financial consultancy, lease and hire-purchase syndication, etc. It plans more fund-based activities and secondary market operations to its...

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Moneylife Digital Team 14 July 2011
Stories of price manipulation Pasari Spinning Mills (Rs20) Karnataka-based Pasari Spinning Mills is engaged in trading in cotton yarn and silk fabric. The company was reported as a sick company to the Board for Industrial and Financial Reconstruction (BIFR) in 1999, which recommended...

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Moneylife Digital Team 30 June 2011
Ankush Finstock (Rs5) Ankush Finstock is into investment in securities, trading in equities & derivatives and works as a commission agent. Revenues in the past nine quarters fluctuated from Rs1.01 crore in the March 2009 quarter to Rs12 lakh in the September 2010 quarter and to Rs86 lakh...

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Moneylife Digital Team 16 June 2011
Stories of price manipulation Exelon infrastructure (Rs75) Exelon Infrastructure is ostensibly engaged in oil trading and infrastructure development. In February 2011, it announced plans to set up a coal-based 350MW power plant in Andhra Pradesh. The company’s revenue for the past...

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Moneylife Digital Team 02 June 2011
Stories of stock price manipulation Farmax India (Rs5) Manufacturer and distributor of FMCG products Farmax India’s reveneus grew from Rs8.44 crore in the March 2009 quarter to Rs21.41 crore in the December 2010 quarter and operating profit rose from Rs78 lakh in the March 2009...

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Moneylife Digital Team 19 May 2011
Stories of price manipulation Inca Finlease  (Rs119) Inca Finlease was originally set up as a private company on 1 March 1994 and converted into a public limited one on 8 July 1994. The Mumbai-based company is ostensibly engaged in bill discounting. In the quarter ended June 2010, the...

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Moneylife Digital Team 05 May 2011
Stories of price manipulation Karma Industries Laxmankumar Birla Trading started in 1977. It then became Karma Ispat; now it is Karma Industries. The firm says it is engaged in the textiles business, but it also makes steel products. Its name changes (nearly half a dozen times) have...

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Moneylife Digital Team 21 April 2011
Stories of stock price manipulation Baid Global Ventures (Rs187) Baid Global Ventures was formerly known as Chisel & Hammer (Mobel); it got its current name in November 2010. Its financials jumped in the past three quarters. It reported operating profit of Rs38 lakh on revenues of...

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Moneylife Digital Team 07 April 2011
Bafna Spinning Mills & Exports (Rs2) Incorporated in February 1990, Bafna Spinning Mills & Exports produces cotton yarn mainly for exports. Its entire production is tied up with companies in the UK and Indonesia. The company’s shares plunged 68% to Rs1.69 a piece on 9 March 2011 from...

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Moneylife Digital Team 24 March 2011
CCL International (Rs32) CCL International’s revenues in the March and June 2009 quarters were Rs13.98 crore and Rs13.67 crore, while operating profit for the two quarters was Rs2 lakh and Rs6 lakh, respectively. In the December 2009, March 2010 and June 2010 quarters, it posted an...

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Moneylife Digital Team 10 March 2011
Stories of price manipulation TCI Finance (Rs99) TCI Finance was incorporated in 1973 as Bhoruka Finance. It changed its name to the present one in 1992. TCI Finance is supposed to be into leasing, hire-purchase, corporate finance, corporate advisory services, etc. The business is...

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Moneylife Digital Team 24 February 2011
Stories of price manipulation SEBI Bars 39 Entities Time and again, Moneylife has been highlighting stories of price manipulation. It has been well over two years since our articles have been appearing but the Securities and Exchange Board of India (SEBI) has been turning a Nelson’s...

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Moneylife Digital Team 10 February 2011
Stories of price manipulation Spectacle Infotek Spectacle Infotek (SIL) was incorporated in 1985 as Nilhari Trading and Finance. It changed its name to Khaitan Weaving Mills in 1988 and got its present name in December 2010. SIL currently provides software services. While...

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Moneylife Digital Team 27 January 2011
Softech Infinium Solutions Softech Infinium Solutions is a Chennai-based company. It claims to be specialising in corporate website development, e-commerce, Internet and intranet implementation services. Earlier known as Brindavan Gardens, it acquired its present name from 25 March...

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