Shares of JTL Industries plunged 6.65% to ₹75.50 during Tuesday’s trade after reports emerged that the Enforcement Directorate (ED) has conducted raids at the company’s premises. The stock, which closed at ₹80.88 in the previous session, witnessed sharp selling pressure in early afternoon trade.
As per sources, the ED action is part of an ongoing investigation, though the specific details of the case are yet to be officially disclosed. The development has raised investor concerns, resulting in high intraday volumes and downward pressure on the stock.
All hari shankar tiberwal linked companies getting ED raids, JTL Industries.. he has holding in Servotech, Balu Forge and some of the other names like Gensol.
— Prem Doshi 🇮🇳 (@StocksResearch) April 16, 2025
ED RAIDS JTL INDUSTRIES
— RedboxGlobal India (@REDBOXINDIA) April 16, 2025
The stock hit an intraday low of ₹74.43, with a market capitalization now hovering around ₹29,400 crore. JTL Industries, a player in the steel pipes and tubes sector, has seen strong interest from investors in recent quarters, but today’s action has weighed heavily on sentiment.
This remains a developing story, and further updates from enforcement authorities or the company are awaited.
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