Ahmedabad Times

Mumbai: The Securities and Alternate Board of India (Sebi) on Thursday barred Osiajee Texfabits managing director and a number of other different entities from the securities marketplace for allegedly manipulating the corporate’s share worth via synchronised tradesmisleading company bulletins and related entities.

The regulator in an ex-parte interim order mentioned, the textile firm’s shares surged almost 842%, from ₹50.40 on January 30, 2025 to ₹474.80 on January 27, 2026, adopted by one other sharp rise in Might 2026, regardless of no materials constructive company developments.

Sebi’s preliminary examination discovered that the highest 10 contributors to the inventory’s final traded worth accounted for 67.38% of the market’s constructive LTP contribution throughout April 30-Might 14, 2026. All of them traded via the Hoshiarpur department of Shreni Shares Ltd, managed by the husband of Osiajee Texfab’s managing director. The regulator additionally alleged that the corporate misled buyers by claiming its textile enterprise was ‘rising steadily’ although its standalone textile operations generated nearly no income.