STOCK MANIPULATION


Moneylife Digital Team 24 June 2013
Stories of price manipulation Venkat Pharma (Rs5) The company is supposedly into pharmaceuticals, but nobody knows what its business is really. The BSE does not make its annual reports available and the company’s website is not functional. How does the BSE expect small investors...

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Moneylife Digital Team 17 June 2013
High Ground Enterprises is supposedly into entertainment and film production. Known as Woo Yang Electronics (India) until 2010, its name was changed to the current one, a commonly adopted tactic by many businesses with poor fundamentals. The financial results of this company have been...

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Moneylife Digital Team 03 June 2013
Stories of Price Manipulation Nicco Uco Alliance Credit (Re0.26) Once a joint venture between Nicco group and Uco Bank, Nicco Uco is a Kolkata-based financial intermediary. It has been pulled up by several regulators, including RBI, CLB, the BSE, NSDL and even the Serious Frauds...

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Moneylife Digital Team 02 May 2013
Stories of price manipulation   Nucent Estates Ltd was earlier Pressman Ltd, a public relations and advertising company owned by the Suchantis of Kolkata. Pressman changed its name to Nucent Finance Ltd. It was pulled up by depositories CDSL and NSDL for failing to comply with demat...

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Moneylife Digital Team 15 April 2013
Stories of price manipulation   Kelvin Fincap (Rs63)   If you look up Kelvin Fincap’s website, nothing is mentioned about who its promoters are and what it does. It is categorised as ‘other financial services’ on the BSE’s website. There’s no annual report for FY10-11 and...

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Stories of price manipulation   According to the company’s website, Bervin Investment and Leasing Ltd is a non-banking financial institution with ‘investment activities’ as its principal business. But it has practically no business. Bervin has had virtually no revenues since September...

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Moneylife Digital Team 25 March 2013
Smilax Industries (Rs20)    Known as Wyn Aqua Exports Ltd until 25 June 2012, Smilax Industries Ltd is supposedly into food packaging. However, according to the BSE website, the company does not have a website nor has it published any annual report after 2010. Smilax was almost wound...

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Moneylife Digital Team 22 March 2013
Provestment Services (Rs119)   The company is supposedly into a variety of businesses, from foreign exchange to packaging. In 1999, the company failed to renew its category II merchant banking licence which was cancelled by SEBI. The company’s net profit during the past four...

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Moneylife Digital Team 11 March 2013
Stories of price manipulation   GFL Financials is into ‘miscellaneous commercial services’ according to the Bombay Stock Exchange’s (BSE) website. It was earlier known as Goyal Financials (India) Ltd until 15 April 2010. Before it changed its name, it had many run-ins with the BSE for...

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Moneylife Digital Team 25 February 2013
  Stories of price manipulation   Niyati Industries Ltd, formerly known as Niyati Leasing Ltd, was implicated not only by the BSE but its application for an NBFC licence was also turned down by the Reserve Bank of India. In the late 1990s, the company faced issues in recovering...

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Moneylife Digital Team 11 February 2013
Stories of Price Manipulation KCCL Plastic (Rs23) KCCL Plastic Ltd, earlier known as Kosha Cubidor Containers Ltd (name was changed on 29 February 2012), is into packaging. Before its name change, the company was indicted thrice by the BSE. First, it was suspended on 30 November...

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Moneylife Digital Team 28 January 2013
Stories of price manipulation Quantum Digital (Rs14) Quantum Digital Vision is a ‘sick company’ as per The Sick Industrial Companies Act, 1985, according to its 2010 annual report. Several charges have been filed against the company in the past. It was even suspended, in June 2008,...

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Moneylife Digital Team 09 January 2013
Stories of price manipulation Yuvraaj Hygiene (Rs15) Yuvraaj Hygiene Products is a company any investor would avoid. A closer look at its trading and volumes data from the BSE will reveal suspicious trading patterns. Earlier, when it was called Intensive Air Systems Ltd, it was...

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Moneylife Digital Team 28 December 2012
Stories of price manipulation First Financial Serv (Rs115) This peculiar finance company has committed several infractions, enough for a wake-up call to the regulators and exchanges. First, it did not fulfil its underwriting obligation in the public issue of Ritesh Polyesters and,...

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Moneylife Digital Team 13 December 2012
Stories of price manipulation VHCL Industries (Rs32) VHCL Industries, erstwhile Jhaveri Weldflux Limited, saw its stock price balloon by an unimaginable 1196% between 19 October 2011 and 16 November 2012, when its stock price went all the way to Rs35 from just Rs2.70! We’re talking...

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Moneylife Digital Team 29 November 2012
Stories of price manipulation   Pasupati Fincap (Rs25)   Pasupati Fincap Ltd, supposedly into finance, has been charged for various transgressions several times in the past by BSE, CDSL, NSDL and MCA. First, it failed to file annual returns with the MCA and was charged on 17...

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Moneylife Digital Team 15 November 2012
Stories for price manipulation   We had covered this company in detail,on our website earlier this year. It was one of the seven indicted by SEBI for serious IPO violations. The company had diverted IPO proceeds through layers of middlemen and entities. The company, as well as its...

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Moneylife Digital Team 04 October 2012
 Despite Gujrat Meditech facing variety of charges ranging from tax infringement to non-compliance of listing norms to violation of shareholding norms, its share has managed to shoot up by 233% within a year. How? This Ahmedabad-based company is supposedly engaged in activities related...

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Moneylife Digital Team 06 September 2012
E.Com has its share prices zoom northwards despite weak financials and an overall downtrend in markets-the question here is, how? Earlier known as Everest Marketing Ltd, E.Com Infotech (India) Ltd was first into hardware and then has supposedly ventured into IT consulting. It has...

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Moneylife Digital team 23 August 2012
Vision Technologies, repeatedly violating regulatory reforms, is facing stock manipulation charges once again, due to profit margins not being able to justify massive stock price gains. Vision Technology India Ltd, supposedly into advertising & media, is one of those companies that have...

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