In the BSE Smallcap index, 60 percent of total 750 stocks were in the positive return on closing of April 16 and of which top 45 stocks rallied between 50-195 percent.
As many as 30 stocks rose 10-40 percent in just five trading session in the S&P BSE Small-cap index, which includes names like Adani Transmission, AstraZeneca Pharma, IOL Chemicals, 8K Miles.
Many retail investors lost their entire savings after investing in 'hot stocks'. While such stocks can be very rewarding, investors should remember the benefits of diversification.
SEBI has given a clean chit to a recently conducted an investigation into the trading activities of certain entities in the scrip of Vakrangee
EOW said it has not found any substance in the complaint and hence closing the enquiry, thereby giving clean chit to the Vakrangee
Selling in some small & mid-cap stocks started in the beginning of 2018 also —thanks to high valuations, but the pressure increased further post August
Midcap and smallcap indices gained 7.3 percent and 6.3 percent, respectively.
The company has been under the scanner of investigative agencies after allegations of share price manipulation surfaced early this year.
The order comes after the Ministry's Western Region Director submitted preliminary enquiry report on the sudden resignation of Vakrangee's auditor.
Businesses that breach trust and indulge in bad practices are bound to fail. It will only be a matter of time before that happens.
The said tie-up will offer mutual fund products to the un-served and under-served areas through its Kendras.
The number of stock scams is on the rise. Will something like a forensic financial analyst be a thing of the future in the markets? Will this be a lucrative career path?
Agrawal regretted that shareholders have to pay the price for their judgement on these companies
Nikhil Kamath, Co-founder, Zerodha, said quality of the auditing firm is something people should pay heed to. “An auditor who resigns at the last minute, especially without reason, should definitely be penalised.”
The fund house has purchased 72,67,679 equity shares of the company at Rs 34.08 apiece through bulk deals on the National Stock Exchange.
There were no comments from Vakrangee as well as PwC, which resigned as the statutory auditor of Vakrangee before completing even a year of auditing assignment with the company
In a letter to the Vakrangee board, the chartered accountancy firm said it got no reasonable assurance whether the financial statements were free from material misstatements, whether due to “fraud or error.”