The move will increase liquidity in the remaining stocks
Cognitive Investing is an investment philosophy which requires one to isolate the current market condition from the investor’s time-tested investment thesis.
Shell companies, stock brokers, beneficiaries and operators allegedly laundered more than Rs 10,000 crore in Mumbai alone by manipulating listed penny stocks to claim bogus long term capital gain, according to a report in The Indian Express.
HDFC Bank remains a stock that should be in every investor's core portfolio, said Dilip Bhat, Prabhudas Lilladher.
The defaulters are going to face a penalty of 200 percent on the tax evaded. But some who had declared a part of their unaccounted wealth in the Income Declaration Scheme which ended a month back, will be given immunity.
Officials said the taxman stumbled upon the cases after the department's Kolkata investigation wing, last year, acted against a "large number" of firms and entities dealing in penny stocks in their jurisdiction and few other inter- connected regions.
Penny stocks is not a treasure trove. Rather it is a minefield. Know these five things before you venture into penny stocks.
The stocks in the new group could be subjected to even shorter price bands of up to two percent, while other restrictions could be put in place to ensure that only genuine trades are permitted on those counters, a senior official said.