Shares of JTL Industries Ltd tanked over 16% to ₹67.85 during Tuesday’s trade after reports surfaced that the Enforcement Directorate (ED) conducted raids at the company’s premises. The stock had closed at ₹80.88 in the previous session but witnessed sharp selling pressure and high intraday volumes, triggering investor concerns.
According to sources, the ED action is part of an ongoing investigation, although the exact nature and details of the case have not yet been made public. The sudden development prompted heavy selling by investors, leading the stock to dip as much as 20% intraday before showing mild recovery by early afternoon.
Earlier today, the ED had also conducted raids in connection with the Mahadev betting app case across 15 cities including Delhi, Mumbai, Jaipur, Indore, Chennai, and Ahmedabad. While the link between these events remains unclear, the broader scrutiny has led to nervousness across stocks tied to ongoing regulatory probes.
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