Aug 28 , 2024

Impact on Reliance Shares after SEBI banned Anil Ambani

By True Scoop

Shares of Reliance Power, owned by Anil Ambani, declined by 9.7% in the last two trading sessions.

Reliance Power saw the largest drop, falling by 4.99%.

Reliance Home Finance decreased by 4.93%.

Reliance Communications slid by 4.92% to ₹2.32.

Reliance Naval and Engineering plummeted by 4.62% to ₹2.27.

Reliance Capital, facing trading restrictions due to insolvency proceedings, dropped by 4.46% to ₹11.79.

Reliance Infrastructure performed slightly better, but still fell by 1.75% to ₹208.00.

As a result, Anil Ambani resigns as chairman of Reliance Group after SEBI imposed a ₹25-crore fine and 5 year ban.

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