Shares of Gensol Engineering, JTL Industries, and Balu Forge witnessed sharp intraday declines on April 16, 2025, during afternoon trade. The sudden drop has stirred speculation on social media, although no official clarification has been issued by the companies or regulatory bodies.
As of 2:11 PM IST:
Gensol Engineering dropped 5%, hitting its lower circuit at ₹122.68
JTL Industries plunged 17%, trading at ₹66.97
Balu Forge fell 8%, quoting ₹585.05
A user on X (formerly Twitter), under the handle @StocksResearch, claimed that these stocks may be connected to a market operator named Hari Shankar Tibrewal, and linked the sharp price movement to alleged Enforcement Directorate (ED) raids. The post further alleged that Tibrewal has or had exposure to several small-cap companies, including Gensol, Balu Forge, and Servotech.
“All Hari Shankar Tibrewal linked companies getting ED raids… he has holdings in Servotech, Balu Forge and some of the other names like Gensol.” — @StocksResearch on X
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
However, it is important to note that there has been no official confirmation of any ED action or any substantiated link between the mentioned companies and the individual named in the post. The reason for the sharp correction in these stocks remains unclear as of now.
Market participants and investors are closely watching for updates or statements from the companies involved or market regulators.
Disclaimer: The information regarding alleged ED raids and connections to any individual is based on unverified social media posts. There is no official confirmation of the same. This article is for informational purposes only. Readers and investors are advised to conduct their own due diligence or consult certified professionals before making any investment decisions.
