Price rigging, scam, manipulation, insider hand,
broker-promoters collusion, fraud are all happening / brewing under the direct nose of the
regulators. This is in respect of share price movement of Onelife Capital
Advisors Ltd. (OCAL). The stock is up from Rs 114 a year ago to Rs 616. SEBI
had barred the promoters of OCAL from participating in the market for diverting
IPO funds for unspecified purposes. In a month, the share price of OCAL is up
27 per cent from a low of Rs 482. Look at the financials of the company. On equity
of Rs 13.36cr, the company reported a loss of Rs 23 lacs for the June 2012
quarter. The company has no history of dividend or bonus.
ABOUT THE COMPANY:
OCAL is a SEBI registered Category I, Merchant Banker.
The company reported sales of Rs 1.56cr and net loss
of Rs 1.99cr, on equity of Rs 13.36, for the year 2012. The EPS is negative.
One life capital came public a year ago at Rs 110. At
the time of going public the company had indicated that they are in the process
of securing license to do business in Equity Broking (BSE) and Portfolio
Management Services from SEBI. The company’s latest website does not indicate
anything about it.
At the time of IPO, the employee strength was eleven.
It had no branches as on the IPO date.
The company started its operations in FY2010;
Income from operations consists principally of income from investment banking
and related services, which includes fee-based income from merchant banking,
corporate advisory (including research services), debt syndication services and
professional fees. In FY10, the company earned a total income of Rs.61.7 lakh
comprising professional fees and consultancy charges.
The
share price appears to be manipulated; otherwise
there is no reason why a loss making, financial advisory company should
trade in excess of 1000PE. Highest PE for any shares any where in the
world.