Markets: Eerie calm

Markets: Eerie calm

it is not clear when market sentiment can change; as in the past, it can be quite sudden.
At a turn and yet not

At a turn and yet not

RBI could be tempted to cut policy rate to support growth at its bi-monthly review.

Mukesh Ambani's Reliance Industries shares close at six-month low as Arvind Kejriwal accusations fly

Mar 04 2014, 11:15 IST
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Reliance Industries on Friday, in a release, refuted the money laundering charges made by Arvind Kejriwal's AAP. (Reuters) Reliance Industries on Friday, in a release, refuted the money laundering charges made by Arvind Kejriwal's AAP. (Reuters)
SummaryArvind Kejriwal's AAP accusations of wrongdoing drives Reliance Industries shares down to Rs 799.

After Arvind Kejriwal's AAP slapped Mukesh Ambani's Reliance Industries (RIL) with money laundering charges, shares of company closed at six-month low at Rs 799.25 or 1.39% lower

Reliance Industries on Friday, in a release, refuted the money laundering charges.

“The allegations that ill-gotten laundered money or profits have either been made or that these have been deposited in the accounts of Mukesh Ambani through Singapore or otherwise are false and are treated by us with the contempt that they deserve," RIL said in release filed with the exchanges.

AAP's Prashant Bhushan had alleged that Rs 6,530 crore had been invested into four Reliance Industries group companies by Bio Metrix Marketing and Strasbourg Holdings in Singapore.

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