STOCKS


Manipulation, time & again The Securities and Exchange Board of India’s (SEBI) action in the Vaswani Industries’ IPO (initial public offering) whose listing was halted in May, raises more questions than it answers. This is a company caught in the most brazen episode of stock manipulation....

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The Securities and Exchange Board of India ignores various kinds of manipulation by this stock broking company Is SEBI extraordinarily soft on the Ashika group, for some reason? Judge for yourself. The group entities are so openly involved in various kinds of market manipulation, that it...

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Moneylife Digital Team 11 August 2011
The company, which is present in railways, bridges, buildings, power, sewerage, irrigation and roads, is looking to expand its capabilities in marine projects and deepen vertical strength in various states Supreme Infrastructure India (SIIL) is one of the few listed infrastructure companies...

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Moneylife Digital Team 11 August 2011
The growth drivers for this small drugs manufacturer are firmly in place Ajanta Pharma is a small company with a presence in the anti-malarial, cardiology, dermatology, gastroenterology, musculoskeletal, ophthalmology and respiratory segments, with four manufacturing facilities in India and...

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Moneylife Digital Team 11 August 2011
The outlook for this oxo-alcohols manufacturer has improved substantially, because of enhanced capacity and upgradation of technology Andhra Petrochemicals (APL) was promoted by Andhra Pradesh Industrial Development Corporation and Andhra Sugars as a joint sector company in 1984. It makes...

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Moneylife Digital Team 08 August 2011
The BSE Small and Medium Enterprises Exchange CEO thinks that the exchange has the potential to list a million companies even as both the IPO market and traded volumes have dried up The BSE SME Exchange which is likely to be launched in September 2011 expects to list 1 million potential small...

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Are emerging markets immune from the issues affecting the US or will they be caught in another epidemic—or will the infection perhaps come from another source? In 2008, when the US stock market crashed, the markets in emerging market countries went down as well. The US stock market has been...

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Moneylife Digital Team 03 August 2011
The Goa-based manufacturer of electrolytic products has put off a share buyback plan without giving any reason, two weeks after making the announcement which saw the stock price shoot up by over 28%. Now, it has lost 18% Company promoters are using a well-proven method to manipulate the...

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Investors often overestimate the probability of a favourable outcome coming to pass in a given situation. We also put great faith in mathematical models despite major flaws and create models based on past data, which is validated only against that same past data. This can have some strange...

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N Madhavan 29 July 2011
After mutual funds, brokerages have introduced SIP for shares. This can be an attractive investment option—Reliance Securities and Geojit BNP Paribas have launched Systematic Investment Plans for equity holdings Banks offer recurring deposits, and subsequently, mutual funds introduced...

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The shocking attitude  of the BSE At the end of an 11-year battle, the Securities Appellate Tribunal (SAT) has ordered the Bombay Stock Exchange (now BSE Ltd) to pay Rs2.21 crore with interest to Emmel Financial Services (which was an investor/client of Nikko Stock Brokers). The twists and...

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Moneylife Digital Team 28 July 2011
The company is the country’s largest manufacturer of hydrogen peroxide, used in the paper and textiles industries, and has good growth prospects National Peroxide Ltd (NPL) makes hydrogen peroxide, sodium perborate and peracetic acid. Established in 1954, NPL is one of the largest...

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Moneylife Digital Team 28 July 2011
The Murugappa group company, which is into abrasives and electro-minerals, has strong integration and expansion plans Carborundum Universal (CUMI) is a Murugappa group company which is into coated and bonded abrasives in India, super refractories, electro-minerals, industrial ceramics and...

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Moneylife Digital Team 28 July 2011
Stocks of fast-moving consumer goods companies have been in a super bullish mode over the past few months. But are they overvalued? On the suggestion of one of our readers, we have discussed buying beaten-down stocks and sectors in the past few issues. What we have suggested, has worked out...

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The Securities and Exchange Board of India drags a report against Religare Securities through adjudication over a paltry penalty of Rs3 lakh, but seems unable to investigate case of rampant price manipulation If the Emmel Financial case makes SEBI appear investor friendly, then a 16th June...

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Broking companies are paying for grave systemic flaws The two SAT orders discussed above reflect how thoughtless actions by both first-line and second-line regulators are hurting the Indian capital market. Contrary to the shining image of a booming market conveyed by 24x7 business news...

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International accounting firms try to be accurate. But investors must be acutely aware of who produced them, where they are from, and who they work for. Blind faith in numbers insures only loss One of the wonders of globalisation is the free movement of capital. One basic assumption of this...

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Moneylife Digital Team 22 July 2011
The unusual rise in the stock price of Panoramic Universal witnessed some years ago was proof of how Indian stocks can be ramped up brazenly. Now, an investigation has alleged that the company has been involved in money laundering. But the regulators choose to remain silent In 2007, the...

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There is a lot that may not look right with the Chinese economy. Yet the faith that the Chinese government and foreign economists place in Chinese regulations, restrictions and policies remains absolute Laws are supposed to solve problems. A government perceives some sort of economic or...

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Dilip Davda 15 July 2011
Bombay Stock Exchange describes it as a technical glitch. But it is not the first time this has happened and there is no explanation from the stock exchange or the market regulator why the so-called glitch keeps happening repeatedly We have seen this happen before and it happened yet again...

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