Dear All,
With all due respect.
I use to track this scrip when it was around Rs. 30 (2.5 years back) and bought decent quantity as well but exited at Rs 55.
Few Red flags which I noticed at that time were:
1) At that time there was no separate website. They have one group website.
http://www.chiripalgroup.com/index.php?page=manufacture_home&id=7
2) Other unlisted entities which are also into textile division. Not able to understand why they got listed only one entity and not others.
3) CFO (Mr. sanjay Agarwal) said pledge share was due to loan taken for other group companies but not for NDL.
4) Criminal case against its promoter and other group companies.
http://www.chiripalgroup.com/Right%20Issue-Final%20Lof-14-12-07.pdf
5) Lavish lifestyle of promoter. (This may not be the concern of many but I personally look for it).
Almost after 6 months of my tracking Crisil came out with Buy report and at that time only, long stuck Orange Mauritius Investments Ltd exited from the stock and Globe Capital Market Ltd & New Leaina Investments Ltd entered. Thereafter, promoter started buying and Dolly Khanna (Globe Capital Market Ltd exited) entered in the range of Rs 60-65 from where stock sky rocketed and touched Rs 170.
Contradictory event,
Promoter is buying shares through open market but not releasing its pledge shares rather diluting it through issue of warrants at higher price.
Is below situation possible?
Raise money by pledging shares —— start buying (at lower price) in open market to attract investors——-roped in well known punters and take the price to higher levels——dump the stock either by issue of warrants or QIP at higher price—–Enjoy holiday in Las Vegas…. 
[Just a view]
Regards,
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