MUMBAI: Shares of Anil Ambani-led Reliance Group companies saw a sharp decline on Monday, with stocks falling up to 10.5 per cent during intra-day trade.
According to reports, the Enforcement Directorate (ED) arrested Ashok Kumar Pal, a senior executive of Reliance Power, on Saturday in connection with an alleged fake bank guarantee and forged invoicing case.
At the closing bell, shares of Reliance Power was at Rs 46.10, down Rs 2.48 or 5.10 per cent on the National Stock Exchange (NSE).
Reliance Infrastructure also followed suit and dropped 4.5 per cent to Rs 231 per share. However, it recovered at the closing bell and end the trading session at Rs 238 apiece.