Bharat Global Developers Share Price: The stock market regulator Securities Exchange Board of India has banned the trading of shares of Bharat Global Developers Ltd, the biggest multibagger stock of the year 2024. SEBI (Securities and Exchange Board of India) has issued a notice against the company and 47 people and has banned all of them from doing any kind of deal in the shares of Bharat Global Developers Limited.

SEBI tightens its grip on Bharat Global

The stock market regulator has banned the company's promoters from buying, selling or dealing in securities or accessing the capital market directly or indirectly until further orders. This order of SEBI has come into effect with immediate effect. In its order, SEBI has said that on December 16, 2024, it had taken cognizance of social media posts and complaints regarding suspicious financial and disclosure of Bharat Global Developers Limited.

The stock rose 105 times in a year 

SEBI itself told that while the stock of Bharat Global Developers was trading at Rs 16.14 in November 2023, it reached Rs 1702.95 in November 2024. SEBI started an investigation against the company for violating its laws. And now trading in the stock has been banned till further orders. The stock of Bharat Global Developers Limited was trading at Rs 16.14 in the month of November 2023, which reached Rs 1702.95 a year later on 28 November 2024, that is, the stock jumped 105 times. On 20 December 2024, the stock closed at Rs 1236.45 and the market capitalization of the company on that day was Rs 12,250 crore. The market cap of the company whose functioning is not known reached Rs 12,520 crore. 

Order to complete the investigation by March 31, 2025 

The promoters in whose banks they have bank accounts or joint accounts will not be able to withdraw money from the account without SEBI's order. All the 47 people to whom SEBI has issued notices will have to give details of their movable and immovable assets to SEBI. Details of investments in any assets, including property, bank account details, demat account details, investment in shares and mutual funds will have to be given. SEBI has ordered to end the investigation against the company by March 31, 2025.