Share price manipulation back again; Ketan Parekh named by IB
According to the India Today report, a damaging IB report, submitted to the topmost echelons of the government, suggests that KP and his associates are driving up share prices through the creation of false volumes. The 'top secret' IB document states that these manipulators are brazenly continuing "their illegal activities using circular trading, insider trading and use of front entities to rig up prices".
The report lists seven companies involved in the illegal manipulation, including Dewan Housing Finance Corporation Limited, Goenka Diamond and Jewels Limited, Orchid Chemicals and Pharmaceuticals Limited , IVRCL Limited, Pantaloon Retail (India) Limited, Tribhovandas Bhimji Zaveri and GMR Infrastructure Limited.
Meanwhile, shares of the companies involved have fallen dramatically. Dewan Housing was down 8.28%, while Tribhovandas Bhimji was down 8.23%, Pantaloon Retail was down 4%, Goenka Diamonds was down 20% and Orchid Chemicals was down 4%
GoodReturns.in