Shares of Anil Ambani’s company fell 36 percent, know the reason.

Reliance Infra Share Lower Circuit: Well-known entrepreneur Anil Ambani’s troubles are showing no signs of ending. Shares of debt-ridden Anil Ambani’s company Reliance Reliance Infrastructure took a sharp tumble on Friday, with the company’s shares falling 20 percent to Rs 181.95 in a day. Earlier, the shares of the company had fallen by 20 percent in the last trading session on Wednesday. Earlier on Wednesday, the company’s shares had closed at Rs 227.40. Shares of the company have fallen nearly 36 percent in the past two trading sessions.

Why did the company’s shares fall?

In a major blow to Anil Ambani, the Supreme Court on Wednesday set aside the Rs 8,000 crore arbitration award. Reversing its earlier judgement, the Supreme Court has given major relief to the Delhi Metro Rail Corporation (DMRC) by saying that Reliance Infra’s subsidiary Delhi Airport Metro Express Pvt Ltd is not bound to pay Rs 8,000 crore to Reliance Infra. Earlier, the arbitration award was in favor of Anil Ambani’s associate company. After this decision of the Supreme Court, the selling period in the company’s shares started and the company’s shares fell to close at Rs 227.40 on Wednesday.

Shares of Reliance Power also fell.

Shares of Reliance Power, another company owned by Anil Ambani, have also seen a steep decline. Shares of the company hit a 5 percent lower circuit on Friday and fell to Rs 26.93. Currently, the company’s shares have fallen 3 percent to Rs 27.40 in the previous trading session.

Earlier on Wednesday too, the shares of the company had a lower circuit of 5 percent and these shares closed at Rs 28.34. The fall in shares has dealt a major blow to the company. Earlier, the company’s shares had seen a rise in the last few months. This increase was seen after the company paid off its debts.

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