Yes, it is true that some people make money in the share market by manipulating the price with the help of the promoters. The promoters help the people to create artificial scarcity of a particular share, leading to an increase in the price of the share due to excess demand. The promoters do so, to receive a high commission from the people hiring them. They also distort the information that is made available to the other prospective investors. This leads to a problem of asymmetric information, causing market failure.