Anil Dhirubhai Ambani Group (ADAG) stocks, including Reliance Home Finance and Reliance Power, continued to decline on Monday following regulatory action against Anil Ambani and several officials of Reliance Home Finance.
Reliance Home Finance shares were locked at a 5% lower circuit, while Reliance Power shares also hit the 5% lower circuit limit. Additionally, Reliance Infrastructure shares fell by over 1%, and Reliance Communication shares declined by 5%.
Trading in the other two ADAG stocks, Reliance Capital and Reliance Naval and Engineering, remained suspended during Monday’s session. The sharp sell-off in ADAG stocks comes in the wake of a Securities and Exchange Board of India (SEBI) order, which imposed a five-year ban on Anil Ambani and 24 others, including officials from Reliance Home Finance.
On Friday, Anil Dhirubhai Ambani Group stocks had already declined by up to 10% following the announcement of the SEBI order.
SEBI Order on Reliance Home Finance
In an order issued on August 22, SEBI banned industrialist Anil Ambani and 24 others, including former senior executives of Reliance Home Finance, from participating in the securities market for five years.
The ban was imposed due to their involvement in what SEBI described as the “misdirection of company funds.” The regulator also imposed a fine of ₹25 crore on Anil Ambani and barred him from any association with the Indian securities market, including holding positions as a director or Key Managerial Personnel (KMP) in any listed company.
SEBI stated that Ambani orchestrated a scheme to “siphon off” funds from Reliance Home Finance, a listed subsidiary of the Reliance Group, where he serves as chairman.
Reliance Power Stock Performance in One Year
In terms of stock performance, Reliance Power shares have demonstrated positive returns across multiple time frames. Over the past month, the stock has given a commendable 27.99% return, showcasing its stability and growth potential. The last six months have seen even more impressive results, with a substantial increase of 34.69%, indicating a strong upward trend.
Year-to-date, Reliance Power shares have surged by 43.97%, reinforcing the stock’s positive momentum in the current fiscal year. Looking at the broader picture, the stock has delivered an impressive return of over 99.31% in the last twelve months, emphasizing its sustained growth and attractiveness to investors.
Reliance Home Finance Stock Performance in One Year
The shares of Reliance Home Finance have demonstrated positive returns across various time intervals. In the last month, the stock delivered a positive return of 8.48%. Over the past six months, it exhibited strong momentum with returns of 14.05%, indicating a robust performance.
Whereas in last three months figures further emphasized the stock’s bullish trend, recording an impressive growth of 22.32%. Looking at the broader horizon, the shares have shown consistent strength, given returns of over 100.95% in the last year.