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But
what is all the hue and cry about. Just to save the small investors
from falling a prey to Harshad Mehtas and their ilk, says the PMO.
The reason for their concern is not unjustified, for, there is a trend
showing a phenomenal rise in penny stocks with no fundamentals. During
April 1, 2005 and August 12, 2005:
•
Nearly 369 companies, which were not traded then are being traded;
• 9 companies rose between 500 and 830 per cent or 5 to 8.3
times;
• 77 companies rose between 250 and 500 per cent or 2.5 to
5 times;
• 403 companies rose between 100 and 250 per cent or 1-2.5
times.
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