STOCK MANIPULATION


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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Moneylife Digital Team 09 August 2012
Gothi Plascon has been traded only on 88 days between 17 August 2011 and 18 July 2012, with just one trade being transacted on most trading days. BSE and SEBI are nonchalant about such drivel listed on the bourses Gothi Plascon (Rs7) Gothi Plascon, a Chennai-based firm which is supposedly...

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Moneylife Digital Team 26 July 2012
Indian Infotech and Software Ltd, formerly known as Indian Leasers Ltd, is supposedly in the business of ‘computer technology training’. It has been implicated for non-compliance of listing norms and was suspended by the BSE on 30 November 2007. It was also implicated for failing to submit...

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Moneylife Digital Team 19 July 2012
The company, supposedly into the business of chemicals and agro-chemicals, was formerly known as Integrated Amusement Ltd. It has been guilty of several transgressions, most notably default in filing annual returns and balance sheet with the registrar of companies. It was debarred not...

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Moneylife Digital Team 28 June 2012
Monotype India Limited, supposedly into printing machines and allied equipment, was suspended from trading on the BSE in 2007 for non-compliance of the listing agreement. However, it got its listing suspension revoked in April 2010. According to filings submitted to the BSE at the time of...

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Moneylife Digital Team 14 June 2012
Out of City Travel Solutions (Rs18) Tilak Finance Limited had been fined Rs7.5 lakh by SEBI, for certain non-compliance, when a Girraj Kishor Agrawal-promoted company—Handul Investrade Pvt Ltd—made an open offer to acquire it. The company then changed its name to Out of City Travel...

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Moneylife Digital Team 31 May 2012
The company had been hauled up twice by the BSE—in June 2010 and December 2010—for non-compliance of shareholding and corporate governance norms. Its board of directors held 26 meetings in FY10-11 during which two directors resigned. Another director resigned in the FY11-12. RTCL has reported...

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Moneylife Digital team 08 May 2012
Stories of price manipulation Blazon Marbles (Rs185) Blazon Marbles, earlier called Shubham Granites, was blacklisted several times by the BSE and SEBI, mainly for violation of listing norms. SEBI had debarred two directors—Vishnu Kabra & Nilesh Desai—from accessing the capital...

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Moneylife Digital Team 19 April 2012
Stories of price manipulation Krishna Ventures (Rs125) Krishna Ventures Ltd (KVL) is a thinly traded stock, with cumulative volume of just 1,560 shares (from 4 April 2011 to 28 March 2012). On most days, there has been just one trade. The stock skyrocketed by 1,324%, from Rs8.6 to...

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Moneylife Digital Team 09 April 2012
Stories of price manipulation Kreon Financial Services (Rs17) Kreon Financial Services Ltd, a Chennai-based non-banking financial company (NBFC), was incorporated in 1994. It has been indicted by CDSL and BSE in the past, for violations of guidelines. Its sales have been erratic....

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Moneylife Digital Team 22 March 2012
Stories of price manipulation Cat Technologies (Rs2) Hyderabad-based Cat Technologies is supposedly into the business of computer software development. However, it has hardly any business. Its quarterly sales revenues have been Rs1.69 crore in December 2011, Rs1.56 crore in...

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Moneylife Digital Team 14 March 2012
Stories of price manipulation LS Industries (Rs8) LS Industries Ltd is supposed to be a vertically integrated supply-chain which includes manufacturing textiles and electronics from its own and sub-contracted factories. Despite a 15-fold increase in revenues from March 2010 to...

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Moneylife Digital Team 23 February 2012
Stories of price manipulation Emporis Projects (Rs48) The share price of Emporis Projects Ltd has suffered a steep fall of 66% in the past six months on the BSE. It has fallen from Rs138.35 on 26 July 2011 to Rs46.40 on 1 February 2012. The sales of the company has declined in each...

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Moneylife Digital Team 08 February 2012
Stories of price manipulation Prraneta Industries (Re0.36) Prraneta Industries is supposedly engaged in textiles trading and financing. It is a case of how a fundamentally weak stock can be easily rigged in India. Moneylife wrote about this company (issue dated 8 April 2010) when its...

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Moneylife Digital Team 27 January 2012
Stories of price manipulation Industrial Investment Trust (Rs259) What can possibly take the share price of an illiquid investment company up by 424%—from Rs48.20 on 23 February 2010 to Rs252.70 on 3 January 2012? Mumbai-based Industrial Investment Trust (IITL)—incorporated in 1933—is...

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Moneylife Digital Team 29 December 2011
Stories of price manipulation Valuemart Info Technologies (Rs4) We had written about brazen price-rigging in Valuemart Info Technologies Ltd in the issue dated 18 November 2010. Valuemart is engaged in custom software development and web development services. Over time, it...

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Moneylife Digital Team 01 December 2011
Innovative Tech Pack (Rs12) Innovative Tech Pack is supposedly into manufacture of PET (polyethylene terephthalate) plastic products. Its top line is average. Quarterly sales revenue has declined from Rs13.65 crore (March 2011 quarter) to Rs11.73 crore (June 2011 quarter)—a decrease of...

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