Sebi Bars 7 Entities for Stock Manipulation, Freezes ₹20 Crore in Unauthorised Gains

Market Regulator Cracks Down on Stock Manipulation Scheme

Mumbai: The Securities and Exchange Board of India (Sebi) has taken a significant step to protect the interests of retail investors by issuing an interim ex-parte order against seven entities linked to a social media-driven stock manipulation operation. The regulator alleged that the entities, led by Hemant Kumar Gupta, Rohan Gupta, and Aniket Gupta, engaged in fraud, manipulation, and unfair trade practices through social media-driven stock recommendations.

According to Sebi, the trio first accumulated shares in select small- and micro-cap companies through connected accounts. Once positions were built, they began posting bullish stock recommendations on X, Telegram, and other social media platforms, urging followers to buy the shares. The recommendations triggered buying interest among retail investors, pushing up trading volumes and stock prices. Sebi said the operators then used the price rise to sell their own holdings at inflated levels, pocketing gains while ordinary investors were left exposed after the rally faded.

Key Figures and Entities

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• Hemant Kumar Gupta, Rohan Gupta, and Aniket Gupta were the main operators of the scheme.
• The alleged scheme covered 82 stocks and 537 posts on X about the scrips from 1 December 2023 to 20 January 2026.

The regulator alleged that the group operated accounts including WealthSolitaire and desiwallstreet on X and other social media platforms. The 'X' account WealthSolitaire had about 13,600 followers as on 24 January, while desiwallstreet had around 40,500 followers as on 22 January.

The alleged scheme resulted in estimated gains of ₹20.25 crore. Among the stocks where profits were allegedly booked were DB Corp Ltd, Almondz Global Securities Ltd, Aeroflex Enterprises Ltd, and Sky Gold & Diamonds Ltd.

Comparison of Net Sales

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The regulator ordered the impounding of ₹20.25 crore in alleged unlawful gains, barred the entities from trading in securities, and directed banks and depositories to freeze debits from their accounts and holdings. Sebi also ordered the accused to stop offering unregistered research analyst services immediately.

The regulator alleged that Rohan Gupta earned the largest share of the gains at ₹13.61 crore, while Aniket Gupta allegedly made ₹1.89 crore and Hemant Kumar Gupta ₹76.99 lakh. Sharon Gupta, Leana Gupta, and Rajani Gupta were also held "jointly and severally liable" for allegedly allowing their accounts to be used in the operation.

Sebi said the profits were calculated on the basis of trades executed within two days of social media posts recommending the stocks. The regulator alleged that the group sharply increased the sale of holdings after a search-and-seizure operation on 21 January.