Midfield Industries was another overpriced small cap IPO<\/a> in the Indian market which listed on 4th August.This stock not so strangely has almost doubled in price since its listing as the stock gets gamed like the other small cap junk IPOs in the Indian Market.I had written about the Real Life Manipulation of Aster Silicates<\/a> Stock\u00a0 which was another fundamentally weak company\u00a0 pumped up by unscrupulous market operators before being unceremoniously dumped.Note the continuous price fall of the Aster Silicates stock which is trading at Rs 74 today down almost 40% from its issue price and 70% from its peak .Midfield Industries is following the same story as the stock which was issued at Rs 133 jumped to as high as Rs 250.There was no fundamental reason for the price rise of this stock,leaving the only\u00a0 conclusion that it was being manipulated.Despite repeated blatant manipulation of small cap stocks the Regulator SEBI is not taking any action.It is hard to believe that the promoters and the investment bankers of this company are not involved in these shenanigans.The only moral from this “Pump and Dump”\u00a0 story is to stay far away from such shady companies that are proliferating in the primary market today.I would not be suprised to see the stock in 2 figures soon from the current price of Rs 190.Atherstone Capital Markets was the Banker to the Midfield Issue while Saffron Capital Advisors was the Banker for the Aster Silicates Issue.<\/p>\n
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