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Thursday, August 4, 2011

Unrealistic returns on Inventure Growth & Securities Limited IPO despite bleak listing

Today Inventure Growth & Securities Limited IPO got listed NSE at Rs. 119 against the issue price of Rs. 117.
Shares remained languishing in the small range till 2.30 PM, and then suddenly swung into unaccepted action and finally at the end of the day, managed to close at Rs. 206.75 at NSE.
What is intriguing is when broader market was falling in the post noon session, this stock was defying gravity and was continuously surging up.
BSE price Chart
This happened due to price rigging, where operator in collusion with the promoter artificially prop the share price to lure gullible investors in.
How this happened?

Above picture clearly tells, how AKG Securities & Consultancy ltd. repeatedly bought and sold shares through bulk deals to rig the share price.It’s a clear case of artificial manipulation where each trade was settled with a difference of 6 paisa only.
As I discussed about the poor fundamentals of this IPO in the IPO analysis report of Inventure Growth & Securities Limited and advised my blog readers to clearly stay away from this IPO.
I ,again caution investors not to get trapped in this price manipulation, if they are long in this share, better sell it before manipulation ends.
In past few days, there were many issues of fundamentally weak stocks, and in majority of those issues, investor have lost their capital- Timbor home,VMS industries,Readymade steel and Bhartiya global are few names to quote.

2 Comments:

Anonymous said...

Can SEBI or any other regulator some action against these manipulators so that poor investors can get their money back?

Avadhoot Nasikkar said...

SEBI does its job but it is too difficult to compensate individual investors who have lost their capital, and even if this happens, it takes too much time.
Investors should better stay away from IPO's which lacks fundamentals.

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