Stock Crash: Trading of Reliance Communications Ltd shares has been closed since September 2. The last closing price of the company’s shares is Rs 2.20. Let us tell you that the shares of companies led by Anil Ambani have seen a continuous decline in the recent days. The market cap of the company is Rs 611.18 crore. Let us tell you that recently SEBI has banned Anil Ambani and 24 others from the securities market for five years on charges of misappropriation of funds from Reliance Home Finance Limited. Along with this, SEBI has also imposed a fine of Rs 25 crore on Ambani.
The stock was climbing continuously
Let us tell you that the stock of Reliance Communications has risen by 12% in the last one month. It has risen by 22% in six months. This stock has risen by 10% so far this year. This stock has risen by 30% in a year. In five years, it has seen a rise of up to 215%. However, in the long term, it has caused a huge loss. On January 11, 2008, the price of this stock had reached around Rs 792. According to this, till August 26 this year, it has seen a decline of 99%. Suppose if an investor had shown faith in this stock during this time and had left after investing one lakh in it, then today that investment would have come down to only Rs 250.
Know the business of the company
Let us tell you that Anil Ambani’s company Reliance Communications is going through the bankruptcy process. Reliance Anil Dhirubhai Ambani Group is an industrial house or group with many companies. Anil Ambani is its owner.
