Stock Manipulation: Scandent Imaging
Moneylife Digital Team 10 May 2017
Scandent Imaging, earlier known as Count N Denier, claims to provide 3D and 2D scanning services, along with expert reports, to cater to the requirements of the dental and ENT fraternity. The company claims to have a team of oral and maxillofacial radiologists and provides referral-based imaging services through various centres in Mumbai.
 
For the December 2016 quarter, sales were Rs47 lakh while there was a net loss of Rs6 lakh. For FY15-16, sales were Rs1.07 crore and net profit was a mere Rs2 lakh. For FY14-15, sales were Rs7 lakh while there was a net loss of Rs24.83 crore which was because of other expenses of Rs19.63 crore. These included expenses of Rs7.09 lakh paid as consent fees to the market regulator for non-compliance with regard to SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997, Rs2.51 lakh as professional fees, Rs2.32 lakh as postage and stamp paper expenses, Rs 1.70 lakh as printing and stationary expense, Rs1.75 lakh as directors’ sitting fees  and Rs1.46 lakh as membership and subscription expenses. These were accounted under the ‘operational level expenses’. Looking at the numbers, one may think that the stock price of the company would be languishing. Well, it went up to Rs20.6 on 2 May 2017, from Rs2.18 on 29 January 2015, a rise of 845% in less than two years. Why? Only the regulator can tell. But 
only if they are interested in such investigations. 
Comments
pankaj sharma
4 years ago
I am not able to sell SAI BABA share at rate 23
Satya Prakash
4 years ago
SEBI is a news creator. They are interested in creating news and nothing else. For retail investors, no real check these people do. BSE has bought useless price cap which had limited upside but very big downside. That could have helped few manipulators of BSE who was fully aware of when and how much price cap will change.
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