Enforcement Directorate raids 29 locations across 6 cities in share manipulation probe

The Enforcement Directorate (ED) has intensified its crackdown on market manipulation, conducting coordinated raids across 29 locations spread over six cities as part of a comprehensive investigation into alleged irregularities in share trading.

The enforcement action centers on suspected market manipulation involving multiple listed companies, with stock prices experiencing dramatic declines in recent trading sessions. Shares of R M Drip and R&B Denims have tumbled by up to 70 percent, wiping significant value from investor portfolios.

The sharp downturns have triggered considerable financial losses for retail and institutional investors, with preliminary estimates suggesting over 100,000 investors have been adversely affected by the price movements. Market analysts have flagged concerns about coordinated trading patterns and potential manipulation schemes.

The ED's multi-city operation represents a significant escalation in regulatory scrutiny of market conduct. Investigators are examining trading records, fund flows, and communications between key market participants to establish the extent of manipulation and identify those responsible for orchestrating the alleged scheme.

The development underscores renewed efforts by financial authorities to safeguard market integrity and investor interests in India's capital markets, particularly concerning retail participation which has grown substantially in recent years.