Lagatar24 Desk
New Delhi: The Enforcement Directorate’s (ED) move to seize assets worth ₹3,000 crore belonging to industrialist Anil Ambani has triggered a massive sell-off in his group companies, wiping out nearly ₹1,831 crore in market value in a single trading session.
Reliance Infrastructure Suffers Sharp Decline
Following the ED action, Reliance Infrastructure shares tumbled by 5%, hitting the lower circuit at ₹205.16, down by ₹10.80 from the previous close. The company’s market capitalization shrank from ₹8,767.18 crore to ₹8,329.95 crore, marking a ₹437 crore loss in just one day. Investors reacted sharply to the news, leading to heavy selling pressure across the counter.
Reliance Power Also Faces Heavy Sell-Off
Shares of Reliance Power also witnessed steep losses, plunging by 6.05% to ₹43.61 during early trade. The company’s market value fell from ₹19,198 crore to ₹17,804 crore. Although partial recovery followed, the stock remained in the red. By 2:13 pm, shares were trading at ₹43.88, down 5.47%, with a market cap recovery to ₹18,146 crore.
Market Sentiment Turns Negative
The ED’s crackdown has rattled investor confidence in the Reliance Anil Dhirubhai Ambani Group (ADAG)companies. Analysts believe that uncertainty will continue to weigh on stock performance until more clarity emerges regarding the investigation. “The pressure on Anil Ambani group companies may persist in the short term,” said a market expert.
The fall has once again highlighted how regulatory actions can swiftly erode investor wealth, especially in companies already struggling to regain market trust.
