Reliance Power, Reliance Infra shares fall after reports of fresh ED action against Anil Ambani’s Reliance Group

Reliance Power and Reliance Infrastructure shares, the Anil Ambani group companies, saw selling amid reports of fresh action by the Enforcement Directorate (ED) against Anil Ambani.

Reliance Infra share price hit 5% lower circuit at ₹168.55 apiece on the BSE, while Reliance Power share price declined 4.6% from day’s high level.

According to a report by new agency PTI, the Enforcement Directorate (ED) has attached fresh assets worth more than ₹1,400 crore as part of a money laundering probe related to Reliance Group chairman Anil Ambani and his companies.

The federal investigative agency had earlier attached properties worth ₹7,500 crore in this case. This brings the total attachment in this case to about ₹9,000 crore, the report added, quoting official sources.

The latest provisional attachment order has been issued under the Prevention of Money Laundering Act (PMLA) for the assets located in various parts of the country, the report said.

The official response from Reliance group is awaited.

At 11:45 AM, Reliance Infrastructure share price was trading 1.63% lower at ₹174.50 apiece, while Reliance Power share price was up 0.65% at ₹40.19 apiece on the BSE.

(With inputs from PTI)

(More to come)