The Exchange has sought clarification from Reliance Infrastructure Limited with respect to recent news item captioned ED attaches Anil Ambani s ₹3,716 cr Pali Hill property Abode in bank fraud probe. The response from the Company is attached.
RELINFRA · price
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On the reaction day the stock moved 2.9 pts less than Nifty Microcap 250 and 3.0 pts less than its Power peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Stock exchanges sought clarification from Reliance Infrastructure on a news item about the Enforcement Directorate attaching Anil Ambani's Pali Hill property worth ₹3,716 crore in a bank fraud probe. The company clarified that the ED's Provisional Attachment Order relates to an ongoing investigation against Reliance Communications Limited under the Prevention of Money Laundering Act, 2002, and not against Reliance Infrastructure. The company stated that since the action does not pertain to it, no disclosure is required under applicable regulations. The company also declined to comment on stock price movement.
This is a clarification, not a new adverse event for Reliance Infrastructure. The company is distancing itself from the enforcement action, which is linked to group company Reliance Communications, potentially limiting negative spillover on RELINFRA shares. However, sentiment around the broader Reliance group may still weigh on the stock.