• Source:JND

Anil Ambani-led Reliance Group's stocks are trading lower on Thursday, i.e. February 26, after the Enforcement Directorate (ED) attached his Mumbai's Pali Hill house in connection with a money laundering case. As per reports, the house is worth Rs 3,716.83 crore.

Following yesterday's action, Anil Ambani appeared before ED in the morning today for questioning in connection with the alleged bank-fraud money laundering case.

Amidst the developments, the shares of Reliance Power, Reliance Infrastructure, and Reliance Home Finance were trading slightly lower during the session.

Reliance Power Share Price

Reliance Power shares dipped 2.5 per cent in the early trade. The Anil Ambani-led stock opened in negative territory at Rs 25.16 on NSE, down against last day's closing of Rs 25.54. The stock extended the momentum further to hit a 52-week low at Rs 24.90, down 2.5 per cent from the last day's closing.

At the time of writing, Reliance Power shares were trading at Rs 25.20, down 0.34 per cent or 1.33 per cent.

Reliance Power Shares Drags 27% This Year

As per the latest data till the time of writing, the Power sector stock corrected over 27 per cent this year so far (YTD). In the last 5 sessions, the scrip fell by over 4 per cent. In the last six months, the stock plunged over 40 per cent, and in a year it dipped 27 per cent.

Reliance Infra Share Price

The shares of Reliance Infrastructure fell nearly 5 per cent during the session post ED crackdown. The Stock hit a fresh 52-week low at Rs 92.75 per share on NSE, down nearly 5 per cent as compared to the last day's closing of Rs 97.63.

The Reliance Infra shares dipped over 10 per cent in the last five trading sessions, as per NSE data till the time of writing. In a month, the stock fell over 28 per cent, and till date this year the scrip corrected nearly 40 per cent.

Also Read: Stock Market Today Update: Sensex, Nifty Continue Gaining Streak; IT Stocks Surge

Reliance Home Finance

Reliance Home Finance shares dipped nearly a per cent in early trade to hit a fresh 52-week low at Rs 2.17 per share. The stock opened flat at Rs 2.20; however, it dragged, reacting to the ED's action against Anil Ambani.

The stock corrected over 23 per cent till date this year, while in a month it plunged over 25 per cent. In the last 6 month Reliance Home Shares plummeted over 50 per cent.

Disclaimer: This story is for informational Purposes only. It should not be considered as investment advice.


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