Tags:
Journalism of Courage
The entire Anil Ambani Group counters ended in the negative terrain with Reliance Natural Resources (RNRL) plunging over 3 per cent,after the market regulator Sebi issued yesterday notices to it and Reliance Infra in a matter relating to stock market deals.
Shares of RNRL finished the day 3.3 per cent lower at Rs 39.55 after hitting a 52-week low shedding 3.7 per cent to Rs 39.35 during the day on the BSE.
The Sensex company Reliance Infra (RInfra),too,lost 1.4 per cent to a month’s low of Rs 1,100 but later recovered to settle flat at Rs 1,120.05,up 0.31 per cent.
On June 7,Sebi had issued notices to RNRL,RInfra and their five top executives “in the matters of dealings by Reliance Natural Resources and Reliance Infra.” Yesterday,the regulator asked them to appear before it for personal hearing
on September 3.
Besides Anil Ambani,who is the chairman of both these companies,RInfra vice-chairman Satish Seth and other directors JP Chalsani,SC Gupta and Lalit Jalan were also asked to submit replies by August 27 to the showcause notices given to them in June.
“The fall in the entire ADAG pack today was primarily triggered by the Sebi notice to RNRL and RInfra. The investor sentiment in the market too was weak,” BNP Paribas Financial Services assistant vice-president Gaurang Shah said.
Other counters from the ADAG pack also ended the day in the red with Reliance Communications shedding 2.3 per cent to Rs 174.45,thereby becoming the biggest loser on Sensex.
Reliance Power fell 2.5 per cent to settle at Rs 158.20.
Reliance Capital also lost 0.69 per cent down to Rs 783.85.
Reliance Mediaworks and Reliance Media World too lost 1.33 per cent and 2.67 per cent respectively.
Meanwhile,the 30-share benchmark Sensex ended at
18,114.83,up 0.19 per cent.
