Scripscan:Blazon Marbles Ltd(Shubham Granites Ltd)
cmp:157
Code:531570
Story:Here is a granite company with business activities of 2crs in fy11 having equity of Rs13.6 crore. What should be the share price of this Company? Maybe Rs2 or Rs3. However, look at the price at which Blazon Marbles is currently trading. The story behind the stock price of Blazon Marbles is that it is in the firm grip of an operator who specialises in ramping up share prices of shell companies. This operator is learnt to be providing a kickback of up to 20% to those who arrange buyers for his counters. He is also learnt to be taking big investors for a ride under the garb of margin funding. The modus operandi? Approaching big investors with ready money, giving them 20%-30% payment (as collateral) to avail of full funding against the pledge of the shares of the counter that he ‘handles’. The provision of margin money provides the much-needed aura of genuineness to the entire operation. However, the operator seldom comes back to the financiers and, as the scrip starts hitting the lower circuit, the financiers fail to exit and are stuck with huge quantities of the stock.Investors are advised to stay away from Blazon Marbles as, sooner or later, this counter too is bound to start hitting the lower circuit.
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