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Sensex in correction phase
Page 4 of 4
  Also the FII money inflow had also raised many an eyebrow as FIIs and NRIs held stake in most penny stocks. There is a doubt if promoter funds were coming back via the FIIs and NRIs as some of the small companies have foreign investments ranging between 10 and 51 per cent of their paid-up equity. Specifically, under the PMO scanner are the following stocks.

• Balasore Alloys, the erstwhile Ispat Alloys Ltd, which gained from Rs 1.35    to Rs 21.10.
• Janice Textiles rose from Rs 2.16 in January to Rs 13.8 on September 21.
• Konkan Tyres rose from Rs 3.40 to Rs 18.80.
• Shakti Met rose from Rs 30.45 to Rs 133.