On the last day of trading i.e. Friday, after the market opened, Anil Ambani's company Reliance Power's stock hit an upper circuit of 5 percent and made a new 52 week high level, but as soon as the news came that the stock market regulator SEBI has banned Anil Ambani from the securities market for 5 years, the shares have been falling continuously since then. Today, after 11 am, the shares started falling and at 11:57 am, a decline of more than 5 percent was recorded.
The country's leading businessman Anil Ambani has suffered a major setback. Market regulator SEBI has banned Anil Ambani for 5 years. Anil Ambani along with 24 other entities have been banned. SEBI has banned all of them from the security market. Along with the ban, SEBI has also imposed a penalty of 25 crores. After this ban, Anil Ambani will no longer be able to participate in the security market.
Shares of Anil Ambani-led companies fell sharply on Friday. Market regulator SEBI has banned industrialist Anil Ambani and 24 others, including former chief officials of Reliance Home Finance, from the securities market for five years in the case of misappropriation of funds from the company. Only after this the shares of his companies fell.
Reliance Home Finance Limited (RHFL) shares fell 5.12 percent to Rs 4.45 on NSE and 4.90 percent to Rs 4.46 on BSE.
Reliance Infrastructure shares fell 10.83 percent to Rs 209.90 on BSE and 8.89 percent to Rs 214.76 on NSE. At the same time, in the afternoon trade, the 30-share BSE Sensex rose 57.32 points or 0.07 percent to 81,110.51 points, while the NSE Nifty rose 29.35 points or 0.12 percent to 24,840.85 points.
The decline started after the news of the ban
In today's trading, Reliance Power started trading at the level of Rs 36.74, while after an upper circuit of 5 percent, it touched its 52 week high level at the level of Rs 38.11. However, after the news of the ban, after falling more than 5 percent, it was trading at the level of 34.48 till the time of writing the news.
Gave 110% return in one year
Let us tell you that in the last six trading sessions, the shares of Reliance Power have hit the upper circuit 5 times. Meanwhile, in the last one year, the shares of Reliance Power have given more than 100 percent return to its investors. The stock has grown 114% during the last 12 months, while there has been a jump of 55% on an annual basis.
Ban imposed on charges of fraud
Let us tell you that today SEBI has imposed a fine of Rs 25 crore on Anil Ambani and banned him from the securities market for 5 years. Apart from these, action has also been taken against 24 other entities. SEBI said in its final order of 22 pages that Anil Ambani, along with the key management officers of RHFL, had hatched a fraudulent scheme to withdraw funds, which he had hidden in the form of loans to the entities associated with him.
` Read This Also : IPO's will open next week
.png)
.png)
0 Comments