SEBI Action against Anil Ambani Causes Plunge in REliance Infra and Power Share Prices
SEBI's Regulatory Action Revealed
On Friday, the REliance infra share price dropped by as much as 14% amidst a significant punishment from SEBI against Anil Ambani and key members of his management team.
Impact on REliance Power Share Price
- Reliance Power share price fell up to 5%, indicating substantial market concerns.
- Shares of Reliance Infra traded at ₹206.45, which is 12.4% lower.
- Reliance Power is experiencing a 5% lower circuit at ₹34.48.
Details of the SEBI Probe
According to findings from SEBI, a fraudulent scheme led by Anil Ambani allowed Reliance Home Finance to issue loans to entities with poor creditworthiness, which eventually devolved into non-performing assets.
SEBI imposed significant restrictions:- Reliance Home Finance is barred from securities markets for six months.
- Anil Ambani faces a five-year market ban and restrictions on holding managerial positions in any listed company.
Market Reactions
As a result of these developments, investor sentiment around Reliance ADAG Group stocks has sharply declined, raising concerns over the future performance of these historically robust entities.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.