Bharat Global’s shares went from Rs 16.14 to Rs 1702 in a year, now SEBI took big action

Bharat Global Developers Share Price: The inventory market regulator Securities Exchange Board of India has banned the buying and selling of shares of Bharat Global Developers Ltd, the largest multibagger inventory of the yr 2024. SEBI (Securities and Exchange Board of India) has issued a discover in opposition to the corporate and 47 folks and has banned all of them from doing any sort of deal in the shares of Bharat Global Developers Limited.

SEBI tightened its grip on Bharat Global

The inventory market regulator has banned the corporate’s promoters from shopping for, promoting or dealing in securities or accessing the capital market immediately or not directly till additional orders. This order of SEBI has come into impact with speedy impact. In its order, SEBI has stated that, on December 16, 2024, it had taken cognizance of social media posts and complaints concerning suspicious financials and disclosures of Bharat Global Developers Limited.

Shares soared 105 occasions in a yr

SEBI itself informed that in November 2023, the share of Bharat Global Developers was buying and selling at Rs 16.14, it reached Rs 1702.95 in November 2024. SEBI began investigation in opposition to the corporate for violation of its legal guidelines. And now buying and selling in the inventory has been banned until additional orders. The inventory of Bharat Global Developers Limited was buying and selling at Rs 16.14 in the month of November 2023, which reached Rs 1702.95 after a yr on 28 November 2024, i.e. the share jumped 105 occasions. On December 20, 2024, the inventory closed at Rs 1236.45 and the market capitalization of the corporate on that day was Rs 12,250 crore. The market cap of the corporate whose functioning just isn’t recognized reached Rs 12,520 crore.

Order to full investigation by March 31, 2025

Banks in which promoters have financial institution accounts or joint accounts will not have the ability to withdraw cash from the account with out SEBI’s order. All 47 folks to whom SEBI has issued discover may have to give particulars of their movable and immovable belongings to SEBI. Investments in any belongings, together with property, particulars of checking account, demat account particulars, funding in shares and mutual funds may have to be supplied. SEBI has ordered to conclude the investigation in opposition to the corporate by 31 March 2025.

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