The Securities and Exchange Board of India has barred 19 entities and people after probe into mid-cap stock crash on July 26.
Reports stated that these entities and people had made a "concerted attempt to artificially manipulate" prices of four stocks - Pipavav Defence and Offshore Eng, Glodyne Technoserve, Tulip Telecom and Parsvnath Developers - on July 26.
The accused entities continuously sold the shares at prices lower than the last traded prices to bring down the share prices, SEBI reportedly said.
On July 26, Tulip fell 26%, while Pipavav, Glodyne and Parsvnath fell roughly 20% each.