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Danger Stock ( Be Aware )

Sumeet Industries (BSE Code :  514211)

A couple of market operators who are experts in kite flying in stock markets have been trying to push up Sumeet Industries, but their efforts have not yielded any positive result and the share price with the face value of Rs. 10 is still quoted below par. Of course, the company’s plans are not ordinary. With sizeable investment in backward as well as forward integration exercise, the company is emerging as an integrated producer of pet chips, POY/FDY, texturised and multifilament polypro- pylene yarns and now it is setting up a captive power plant at a cost of Rs. 77 crore. However, credibility of the management has suffered a severe setback after SEBI had caught the top management for manipulating stock market a few years ago.

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