By observing the system we think the current circuit filter system erase the actual wealth of Genuine Investor of the country, and giving free hand to market manipulators. Here we are giving the recent example of one Bse listed stock,
of Scrip - 20 Microns
Scrip Code - 533022
Issue Price - Rs. 55.00
Date of Listing - 06 October 2008
Closing Price on 06 October 2008 - Rs. 33.30
Circuit Filter on 07 October 2008 - Upper Band is Rs.39.95 / Lower Band is Rs.26.65
Is it fair to apply the Upper circuit filter below the cost of Original Allotter?
Fair band for Circuit Filter for the Day must be as under,
Upper Circuit Limit - Rs. 66 and Lower Circuit Limit - Rs. 26.65.
This prevents the Market form Manipulations.
We are enclosing one pamphlet, which was distributed, and handover to SEBI chairman in the meeting of Investor grievances forum at Indian Merchant Chambers at mumbai in the year of 2000. Even after the eight year SEBI is still using the Faulty formula for the Circuit Filter System.
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