Showing posts with label maniulation of newly isted shares. Show all posts
Showing posts with label maniulation of newly isted shares. Show all posts

Thursday, July 7, 2011

MANIPULATION RAMPANT IN NEWLY LISTED IPOS

Birla Pacific Medspa which got just one time subscription got listed at 150% premium to its issue price is surprising. The fundamentals of the company are weak and the business is yet to evolve. There were no takers at Rs10 and it is puzzling that the stock find buyers even at Rs 30, the days high. Will SEBI look into the first day/week price rigging of  newly listed companies. Similar the case with Rushil Decor.

These shares would be available at discount to its issue price in the next few trading sessions, as we have seen in the case of Timbor, Sanghvi Forging and Sevalakshmi Papers.