Anil Ambani’s Company Shares Decline: Troubles of veteran businessman Anil Ambani are not going to end. Shares of debt-ridden Anil Ambani‘s company Reliance Infrastructure witnessed a huge fall on Friday and the company’s shares fell by 20 percent in a single day to Rs 181.95. Earlier, in the last trading session i.e. Wednesday, the company’s shares had fallen by 20 percent. Earlier, the company’s shares closed at Rs 227.40 on Wednesday. In the last two trading sessions, the company’s shares have fallen by about 36 percent.
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Why did the company’s shares fall?
On Wednesday, the Supreme Court gave a big blow to Anil Ambani by cancelling the arbitral award of Rs 8,000 crore. Reversing its old decision, the Supreme Court gave a big relief to the Delhi Metro Rail Corporation (DMRC) and said that Reliance Infra’s subsidiary company Delhi Airport Metro Express Private Limited is not bound to pay Rs 8,000 crore to Reliance Infra. Earlier this arbitral award was in favor of Anil Ambani’s subsidiary company. After this decision of the Supreme Court, a round of selling started in the company’s shares and on Wednesday the company’s shares fell to Rs 227.40.
Reliance Power shares also declined
Shares of Reliance Power, another company of Anil Ambani, have also seen a huge decline. On Friday, the company’s shares hit a 5 percent lower circuit and fell to Rs 26.93. Currently, the company’s shares have fallen by 3 percent to Rs 27.40 compared to the last trading session.
Earlier on Wednesday, the company’s shares had hit a 5 percent lower circuit and the shares closed at Rs 28.34. The company has suffered a major setback due to the fall in the shares. Earlier, the company’s shares were witnessing a rise for the last few months. This rise was seen after the company settled its debts.
