STOCK MANIPULATION


Moneylife Digital Team 08 November 2010
Stories of market manipulation Vax Housing Finance Corporation (Rs72) This is a company engaged in investment and trading in securities. Between 2 July 2010 and 11 October 2010, the stock has soared 583%. In the March 2009 quarter, Vax Housing’s sales were Rs10 lakh, while operating...

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Stories of stock price manipulation 30 September 2010
Veritas India (Rs351) Mumbai-based Veritas India is engaged in imports, trading & distribution of chemicals, generation of wind power and metals & machinery. The phenomenal 3227% rise in the stock price from 7 September 2009 to 8 September 2010 does not reflect its inconsistent...

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Moneylife Digital Team 25 August 2010
Vipul Dye Chem Vipul Dye Chem is engaged in the manufacture of bases & salts, dyes & intermediates and other chemicals. The company claims to supply its products to textile mills and other manufacturers in India. Its sales stood at Rs7.59 crore in September 2009. They declined to Rs6.83...

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Moneylife Digital Team 12 August 2010
Jaihind Synthetics (Rs20) Jaihind Synthetics is supposed to be in the textiles business. But has simply no business worth talking about. It has posted zero revenues in four out of the past five quarters. In the March 2009 quarter, revenues were Rs4 lakh, recording no sales in other four...

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Moneylife Digital Team 29 July 2010
PFL Infotech (Rs22) PFL Infotech claims to be in the trading business, although its name suggests that it is in the IT business. As per the company’s annual report for FY08-09, it has not entered the IT business because of unfavourable economic conditions. It posted an operating loss of...

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Moneylife Digital Team 27 July 2010
ScanPoint Geomatics (Rs25) Ahmedabad-based ScanPoint Geomatics Limited (earlier known as ScanPoint Graphics) is engaged in the “development and customising services of geographical information system, image processing, global positioning system, computer-aided design and location based...

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Moneylife Digital Team 15 July 2010
My Fair Lady (Rs8) My Fair Lady manufactures personal-care products like perfumes, sprays and combs. It markets its products under the brand name My Fair Lady which is owned by the promoter company. It has consistently made losses over the past nine quarters. Operating loss was in the...

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Moneylife Digital Team 01 July 2010
AV Cottex (Rs34) Manipulation seems to be rampant in AV Cottex. This company is in the business of trading in cotton yarn. In the March 2010 quarter, it posted sales of Rs3.06 crore. This was a remarkable achievement because there have been six quarters when the company did not post any...

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Moneylife Digital Team 25 June 2010
ACI Infocom Limited (Rs18) ACI Infocom mainly distributes IT hardware products. It also focuses on delivering IT and telecom solutions & services. In the December 2008 quarter, the company posted sales of Rs4.30 crore and an operating profit of Rs27 lakh. But, surprisingly, in the March...

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Moneylife Digital Team 18 June 2010
Neha International (Rs173) Incorporated in 1993, Neha International Ltd (with its subsidiary Globeagro Holdings) is engaged in the floriculture business in India and Ethiopia. It exports its products to countries like the Netherlands, Japan, Greece, Canada, Switzerland, the United...

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Moneylife Digital Team 17 June 2010
 Capital Trust Limited (Rs59) Capital Trust Limited is in the business of hire-purchase/leasing of plant & machinery, office equipment and two-wheelers. In 2008, the company ceased all other financing operations and started ‘grameen-based, joint liability-based microfinance’, whatever...

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Moneylife Digital Team 17 June 2010
Polygenta Technologies (Rs43) Polygenta Technologies was incorporated as Maskara Polytex in 1981. It deals in polyester filament chips, partially oriented yarns, colour televisions and audio hi-fi systems. It has two manufacturing facilities in Maharashtra, but one of them is closed...

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Moneylife Digital Team 03 June 2010
Subuthi Finance (Rs134) Subuthi Finance, incorporated in 1992, claims to provide a wide range of financial services. Business growth has been extremely poor and inconsistent over the past four quarters. In the September 2009 quarter, revenues were just Rs10 lakh and operating profit was...

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Moneylife Digital Team 27 April 2010
Insutech India (Rs27) Insutech India is engaged in manufacturing and marketing of electrical insulating material. In the June 2009 quarter, the company registered net sales of Rs7.52 crore and an operating loss of Rs2.10 lakh. In the September quarter, sales declined drastically to Rs30...

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Moneylife Digital Team 21 April 2010
Mahan Industries (Rs6) Mahan Industries is supposed to be a non-banking finance company which invests in the capital market. In the past three quarters, its revenues were Rs3 lakh, Rs5 lakh and Rs1.83 crore, respectively. Out of the past five quarters, it has recorded operating losses in...

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Moneylife Digital Team 07 April 2010
Prraneta Industries (Rs32) Prraneta is into textile trading and financing. It embodies another example of how some fundamentally weak stocks surge on the price front. For the past four quarters, the company reported sales of Rs4.10 crore, Rs3.49 crore, Rs3.27 crore and Rs3.67 crore....

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Moneylife Digital Team 08 February 2010
Vintron Informatics Ltd (Rs6) Delhi-based Vintron Informatics is supposed to be operating in the electronics industry dealing in personal computers and computer peripherals. Fundamentally, the company is poor. In the March 2008 and June 2008 quarters, the company posted zero operating...

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Moneylife Digital Team 12 January 2010
Times Guaranty Ltd (Rs79) Promoted by Bennett Coleman & Co, owner of the Times group, Times Guaranty is a defunct finance company. In the March 2008 quarter, it posted revenues of Rs2 lakh and an operating loss of Rs28 lakh. Surprisingly, in the September 2008 quarter, when the economy...

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Moneylife Digital Team 15 December 2009
Empower Industries (Rs32) Empower Industries is supposed to be in the business of ‘information technology resale and systems integration’. It has entered into a strategic, technical and marketing alliance with HTL Co Japan Limited and also formed a joint venture with US-based SPS Inc. The...

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Moneylife Digital Team 27 August 2009
Chandrika Traders New Delhi-based Chandrika Traders Limited is supposed to be a non-banking financial company. This stock has been shooting up. Between 17 April 2009 and 31 July 2009, this scrip has surged 263%. Don’t ask about the fundamentals. In the June 2008 and September 2008 quarters,...

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