The joint parliamentary committee on stock scam has drawn a list of twelve companies whose share prices experienced unusual volatility and in respect of which there was evidence of manipulation or irregularity.
The list of twelve companies includes DSQ Software, Lupin Lab, Zee Telefilms, Global Telefilms, HFCL, Satyam Computers, GTB, Silverline Technologies, SSI Ltd, ICICI Bank, PSI Data Systems and Polaris Software and has been prepared on the basis of the special report of the Securities and Exchange Board of India (Sebi). Sebi had investigated the movement in scrips of 185 companies between the period October 1999 and March 2001. The report was discussed by the committee recently to decide on the extent to which the corporate sector should also be investigated in connection with the stock scam.
The report says that while Nirma and Wipro shares had also witnessed similar fluctuations there is no evidence regarding manipulation or irregularity in their scrips. But for others it says: