News for Reliance Communications Limited (RCOM.BO)

Reliance Power shares fall on enforcement agency action reports, company clarifies no impact on operations or financials.

Shares of Reliance Infrastructure and Reliance Power plummeted after Enforcement Directorate (ED) raided Anil Ambani's premises concerning a Rs 3,000 crore Yes Bank loan fraud. The ED's investigation revealed irregularities in loan approvals and potential bribery. Both Reliance Infrastructure and Reliance Power deny involvement, stating the probe relates to separate entities with no impact on their operations.

India Business News: The Enforcement Directorate conducted raids across Mumbai, investigating a Rs 3,000 crore money laundering case allegedly involving Anil Ambani's Reli

The Enforcement Directorate raided 35 locations linked to Anil Ambanis Reliance Group in a ₹3,000 crore money laundering probe tied to YES Bank loans. Reliance Power clarified it operates independently of RCom and RHFL, the focus of allegations. The group denied any impact on operations. ED suspects loan diversions, process violations, and bribes to YES Bank officials between 2017 and 2019.

The Delhi High Court asked parties to maintain the status quo and posted the matter for further hearing on September 17.

Anil Ambani appears to be staging a comeback, with the market cap of his two group firms nearly doubling over the past six months following his pivot into sectors that India is actively betting on. But will this resurgence stand the test of time?

Benchmark indices traded lower as investors expressed cautious sentiment on developments around U.S.-India trade negotiations.

Indian markets fell for the fifth straight session, with IT, energy, and metal stocks facing heavy selling. Analysts predict further correction, with Niftys support at 22,450 and resistance around 22,700, indicating short-term bearish sentiment.

Prestige Estates to launch ₹52,000 crore housing projects, ACME Solar secures ₹3,753 crore loan, Dr Reddy's recalls medications.

Top News Today: Will Arvind Kejriwal will get bail? The Supreme Court is all set to deliver its verdict today. Meanwhile, Western Carriers (India) and Deccan Transcon Leasing IPOs will open for subscription.

Anil Ambani's Reliance Power shares fell 5% for the third consecutive day after SEBI barred Ambani from the securities market due to fund siphoning allegations. Shares of Reliance Home Finance and Reliance Communications also dropped. Despite Ambanis resignation, Reliance Power claimed the SEBI order does not impact its operations.

Reliance group shares plummet after Sebi bans Anil Ambani, imposes fines for fund diversion at RHFL.

Anil Ambani Group Stocks, Reliance Power, Reliance Infra Share Price Updates 26 Aug 2024: Reliance Power, Reliance Infrastructure and Reliance Home Finance stocks are in focus. SEBI recently barred industrialist Anil Ambani and 24 others, including former officials of Reliance Home Finance (RHFL), from accessing the securities market for five years for diversion of funds. Anil Ambani is taking legal advice on the order. “Ambani is reviewing the Final Order dated 22 August 2024 passed by SEBI in the said matter, and will take appropriate next steps as legally advised,” said Ambani’s spokesperson.

Shares of Anil Dhirubhai Ambani Group dropped by up to 14% after Sebi barred Anil Ambani from the securities market for five years over fund siphoning allegations from Reliance Home Finance. Reliance Home Finance and Reliance Power shares fell 5%, while Reliance Infrastructure shares plummeted 14%. Trading in some other group companies remains suspended.

Sebi bans Anil Ambani news: According to a PTI report, Sebi has barred Anil Ambani, and 24 other entities, from the securities market for a period of five years

Stocks to watch today, August 12, 2024: GIFT Nifty indicates a negative start for the benchmark equity indices on Monday. Here is the list of buzzing stocks to watch during today's trading session

The filing attached an order of the National Company Law Tribunal's Mumbai bench in the matter of application filed by the resolution professional of Reliance Communications (RCom), seeking approval from the NCLT for undertaking the sale of certain unencumbered assets of the company.

Reliance Communications Limited reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported sales was INR 970 million...

Q2 Results: Today, a handful of major companies will be releasing their Q2 results, including Coal India Ltd, Eicher Motors Ltd, Hindalco Industries Ltd, Oil And Natural Gas Corporation Ltd (ONGC), and Mahindra & Mahindra Ltd (M&M).