By Admin 
Reliance shares: Anil Ambani’s difficulties are not taking the name of being reduced these days. On one hand, the Enforcement Directorate (ED) has summoned for questioning for questioning in the loan fraud case of Rs 17,000 crore. Now the ED has sent a letter to 12-13 banks and sought information about the details of the entire process, lapse time and loan recovery to the companies of Reliance Group. This news had a bad effect on his companies.
5 percent lower circuit in shares
Today, during the trading in the stock market, the shares of Reliance Group companies declined by 5 percent. Reliance Power’s shares fell 5 percent to Rs 47.58, while Reliance Infrastructure shares fell by 4.98 percent to Rs 296.15. Reliance Home Finance shares are trading at Rs 4.84 with a decline of 4.84 percent.
ED wants to understand the action of banks
According to an Economic Times report, the ED has first summoned Anil Ambani and now wants to understand what action the banks took after the companies missed the loan. On the condition of anonymity, a senior official told ET, “We want to know what action the banks took against the default companies, even if any action was taken.” Have they filed a complaint with a criminal case in an investigating agency?
About 17,000 crore loans given to Reliance Home Finance Limited, Reliance Commercial Finance Limited and Reliance Communications have now turned into non-performing assets (NPAS). It is being told that about 20 private and public sector banks gave loans to the companies of Reliance Group of Anil Ambani.
Reliance Power shares in oversold zone
On the technical front, there are signs of Reliance Power being in the oversold zone. The relative strength index (RSI) of the stock on the chart is at 28.0. RSI below 30 usually shows that stock is oversold. There is excessive selling pressure on this and now he can either stop there or go back up. In such a situation, now there is a possibility of recovery in Reliance’s shares.
At the same time, the daily RSI reading of Reliance Infrastructure is 31.0. It is not in the oversold zone, but it is only slightly above this level. RSI (Relative Strength Index) is a Momentum Indicator that measures how much the stock was bought or sold in recent times. Its score is between 0 and 100. If the RSI of a share goes above 70, then it comes into the ‘Overbough’ category and now there are indications of decline.
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Anil Ambani’s difficulties are increasing in a loan fraud case of 17 thousand crores, now bankers can be questioned