ICAI comments irk R-Adag

ICAI comments irk R-Adag

Mumbai: The Reliance Group, controlled by Anil Ambani, which saw its market capitalisation erode significantly on Wednesday, urged the Institute of Chartered Accountants of India (ICAI) to be more discreet in its comments to the media, which could have a potential impact on share prices.

“We would urge discretion to be maintained by a professionally body like ICAI, especially in relation to price-sensitive comments and observations to the media," Reliance Group managing director Gautam Doshi told reporters and analysts at a conference called held on Thursday morning.

Investors in Reliance Group companies lost around Rs12,754 crore of their wealth as share prices of all six listed Reliance Group companies slumped sharply. On Thursday, however, Reliance Group stocks recovered amid a weak market.