New Delhi : There are clouds of crisis over the Indian stock market for the past several days. Due to which the trend of decline does not seem to be stopping and due to this the portfolios of most of the investors are in the red mark. There has been a huge decline in the shares of Anil Ambani's company Reliance Power in the last 5 days. Shares of this company have fallen by about 18 percent in the last 5 days.
Let us tell you that the shares of this company had achieved amazing profits in the second quarter of the financial year 2024-25 i.e. from July to September. Based on the second quarter results of this current financial year, the consolidated profit of the company has been Rs 2,878.15 crore.
The price is continuously falling
From the beginning of the calendar year i.e. January 1, 2024, the price of Reliance Power shares used to be Rs 23 95 paise at the time of market closing, which increased to Rs 53 64 paise by October 3, 2024. Which directly shows that the price of Reliance Power shares has increased 2 times in just 10 months. However, since October 3, the Indian stock market seems to be continuously falling and now the price of this Rs 53 share has come down to Rs 36 at 1 paise.
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Anil Ambani's new trouble
Industrialist Anil Ambani's troubles are not ending. Solar Energy Corporation of India has banned Anil Ambani's company Reliance Power from participating in tenders for the next 3 years. Now news is coming that Canara Bank has declared Reliance Telecom Limited, Reliance Communications and Reliance Infratel as fake accounts.
Canara Bank issued notice
Actually, Canara Bank has issued a notice to Reliance Communications on Friday. In this notice, Canara Bank has declared the loan accounts of Anil Ambani's company Reliance Communications and its subsidiary companies as fake. However, this is not the first time that such action has been taken against Reliance Communications and its subsidiary companies by a bank. Earlier in December 2020, State Bank of India, Indian Overseas Bank and Union Bank of India had also included the accounts of RCom and subsidiary companies in the list of fake accounts.
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