Sebi bars Osiajee Texfab for alleged manipulation

SEBI issued an ex-parte interim order barring Osiajee Texfab from the securities market for alleged stock price manipulation. The textile company's shares surged nearly 842 percent from about Rs 50.40 in January 2025 to about Rs 474.80 in January 2026, despite no material corporate developments. SEBI found that top 10 contributors accounting for 67.38 percent of positive last traded price contribution all traded through one branch linked to the managing director's husband, and that the company misled investors about steady growth in textile operations that generated virtually no revenue.