STOCK MANIPULATION


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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Moneylife Digital Team 13 January 2011
Som Distilleries & Breweries Som Distilleries & Breweries makes beer and ‘Indian Made Foreign Liquor’. It owns brands such as Hunter Extra Strong Premium Beer, Legend Premium Beer and Legend Premium Lager Beer. In the March quarter 2010, revenues were Rs32.01 crore, and the...

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Moneylife Digital Team 30 December 2010
Splash Media & Infra (Rs76) Splash Media & Infra, incorporated as ‘Indus Commercials’, was engaged in the business of media software. It is now engaged in media advertising, realty and construction. From 24 March 2009 to 26 November 2010, the stock registered a phenomenal growth of...

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Moneylife Digital Team 16 December 2010
Explicit Finance (Rs17) Mumbai-based Explicit Finance deals in shares and securities. The stock has jumped 269% between 24 June 2010 and 16 November 2010. Its operating profit was Rs21 lakh on revenues of Rs85 lakh in the March 2009 quarter. The September 2009 quarter saw revenues...

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Moneylife Digital Team 08 December 2010
Stories of market manipulation Swasti Vinayaka Synthetics (Rs14) Swasti Vinayaka Synthetics, which was part of the Siyaram group till 1989, manufactures textiles and sarees. Its stock surged 541% between 14 May 2010 and 1 October 2010. Sales in the March 2009 quarter were at Rs4.71...

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Moneylife Digital Team 22 November 2010
Stories of market manipulation Valuemart Info Technologies (Rs19) Valuemart Info Technologies (VITL) offers IT and business process outsourcing services. The stock has soared by 1,261% between 20 April 2009 and 22 October 2010. VILT’s sales for the March 2009 quarter were Rs2.99 crore...

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