Reliance shares fall after ED raids Anil Ambani's locations
Reliance Infrastructure and Reliance Power shares slid nearly 10% in just two days after the Enforcement Directorate (ED) raided locations linked to Anil Ambani.
The raids are tied to a ₹3,000 crore Yes Bank loan fraud case, with the ED uncovering suspicious loan approvals and hints of bribery.
Both companies have reassured everyone that they're not involved in the investigation and that their business is running as usual.
ED investigating loans given by Yes Bank
The ED is looking into loans Yes Bank gave out between 2017 and 2019, which may have ended up in shell companies through shady paperwork and weak checks.
Over 50 firms and 25 people are now under scrutiny, raising tough questions about how these loans were handled—and whether some bank officials looked the other way.
Reliance Infra and Power also made it clear they're separate from other Ambani-linked companies at the center of this probe.