Anil Ambani's Reliance Group falls after market regulator's ban

Reliance Home Finance

23/08/2024 07:31

** Shares of Anil Ambani's Reliance Group are down between
4%-9% 
    ** India's markets regulator banned businessman Anil Ambani
and 24 others from the securities market for five years due to
diversion of funds 
    ** The Reliance Group was created in July 2006 following a
demerger from Reliance Industries Ltd  RELI.NS  , which is led
by Anil's brother Mukesh Ambani
    ** India's SEBI says Anil Ambani orchestrated scheme to
siphon off funds from public company
    ** Reliance Infrastructure  RLIN.NS  down nearly 9%,
Reliance Home Finance  RLIC.NS  shed 5% and Reliance Power
 RPOL.NS  drop 4%      
   
        

 (Reporting by Nishit Navin)
 ((nishit.navin@thomsonreuters.com;))