SEBI on Friday took strict action against Anil Ambani and banned him from the securities market for 5 years. The market regulator has also imposed a fine of Rs 25 crore on the veteran businessman. This decision of SEBI has affected the listed companies of Anil Dhirubhai Ambani Group. The shares of these companies have fallen by up to 17 percent. Let us know about the shares of these companies one by one –
1- Reliance Infrastructure Limited (Reliance Infrastructure Shares)
The company’s stock opened at Rs 237.50 on Friday in BSE with a gain compared to Thursday’s closing. The company’s stock was also successful in reaching an intra-day high of Rs 243.50. But as soon as SEBI took action, a downward trend was seen in the company’s stock. The company’s stock has fallen by 17 percent from today’s intra-day high. The intra-day (till 1.15 minutes) low level of this stock in BSE is Rs 202 per share.
Anil Ambani banned for 5 years, fined Rs 25 crore, strict action by SEBI
2- Reliance Home Finance Limited (Reliance Home Finance Share)
During the last few days, a good recovery was seen in the company’s shares. Today also the shares were in an upper circuit. But after some time, the company’s shares were in a lower circuit of 5 percent. Due to which the price of Reliance Home Finance Limited came down to the level of Rs 4.46 in BSE. Let us tell you, the shares of this company were continuously in an upper circuit since August 20.
3. Reliance Power Shares
This stock has almost doubled the investors’ money in the last one year. But after SEBI’s action, it also saw a decline. After a 5 percent lower circuit, the stock price came down to a low of Rs 34.45. Earlier today, the company’s shares also had an upper circuit. Let us tell you, for the last few days, the company’s shares were continuously having an upper circuit.
What is the whole matter?
SEBI has banned businessman Anil Ambani and 24 others, including former key officials of Reliance Home Finance, from the securities market for five years in connection with the misappropriation of funds from the company. SEBI has imposed a fine of Rs 25 crore on Ambani and banned him from engaging in the securities market for a period of five years. This includes being involved as a director or key managerial personnel (KMP) in any listed company or any intermediary registered with the market regulator. Apart from this, the regulator has banned Reliance Home Finance from the securities market for six months and imposed a fine of Rs six lakh on it.