(Image source from: Indiatoday.in)

The share prices of Reliance Dhirubhai Ambani Group (ADAG) companies dropped heavily after the Securities and Exchange Board of India (SEBI) imposed a five-year ban on Anil Ambani and 24 others, including some Reliance Home Finance officials. Reliance Home Finance shares reached the 5% upper limit during early trading but immediately fell to the 5% lower limit after SEBI's order. Reliance Infrastructure shares fell around 12%, while Reliance Power shares declined by around 5%. Reliance Home Finance shares initially opened higher at ₹4.92 and reached the 5% upper limit, but then experienced significant selling pressure, falling to the 5% lower limit within a few minutes. Reliance Infrastructure shares witnessed the most significant drop, touching an intraday low of ₹201.99 before recovering slightly to around ₹205.50, still down 13% from the previous close.

The ADAG stock experienced heavy selling pressure despite a strong performance earlier in the day. It reached the upper trading limit during the morning session, but then fell sharply after SEBI imposed a penalty on Anil Ambani, reaching the 5 per cent lower circuit. Trading in the other Reliance ADAG stocks remained suspended on Friday. SEBI identified a significant financial fraud at Reliance Home Finance Ltd., where Anil Ambani and others had siphoned off substantial funds through questionable loan disbursements, resulting in major losses for shareholders. SEBI also fined Anil Ambani ₹25 crore and barred him from any involvement in the Indian securities market, including as a director or key management personnel in any listed company.