Reliance Power and Reliance Infra Share Drop: The markets regulator SEBI has restricted Anil Dhirubhai Ambani from the capital market for five years and levied a penalty of Rs 25 crore for diverting funds from Reliance Home Finance. The SEBI has barred 27 other entities from the capital markets, including key Reliance Home Finance officials.
Anil Ambani won’t be able to take any position such as director or at key managerial roles in any of the listed companies, or any intermediaries registered with SEBI for the timeframe of five years. Come from Sports betting site
The market’s watchdog levied a total penalty of Rs 6 lakh on Reliance Home Finance, banning it from the securities market as well for six months. SEBI has asked the entities to pay the slapped penalty within 45 days of the receipt of the order.
“Noticee No. 1 (RHFL) is restrained from accessing the securities market and prohibited Final Order in the matter of Reliance Home Finance Limited Page 214 of 222 from buying, selling or otherwise dealing in securities, directly or indirectly, or being associated with the securities market in any manner, whatsoever, for 6 months, from the date of coming into force of this order,” read the final order. Come from Sports betting site VPbet
RHFL as part of its business, provides housing loans, loans against property, construction finance, etc.
Reliance Power hits lower circuit
The stock of Reliance Power hit the lower circuit as soon as the order was published on the exchanges. Shares of Reliance Power fell to an intraday low of Rs 34.48. It has a previous close of Rs 36.30.
In terms of stock performance, Reliance Power shares have demonstrated positive returns across multiple time frames. Over the past month, the stock has given a commendable 27.99% return, showcasing its stability and growth potential. The last six months have seen even more impressive results, with a substantial increase of 34.69%, indicating a strong upward trend.
Year-to-date, Reliance Power shares have surged by 43.97%, reinforcing the stock’s positive momentum in the current fiscal year. Looking at the broader picture, the stock has delivered an impressive return of over 99.31% in the last twelve months, emphasizing its sustained growth and attractiveness to investors.