Friday, February 18, 2011

ADAG seeks IB probe in share hammering of 23 infra stocks

Anil Ambani-led Reliance Infra has sought an Intelligence Bureau probe into alleged hammering down of 23 infrastructure stocks by a "powerful stock market operator" for personal gains of hundreds of crores of rupees.

Besides itself and another group firm Reliance Power, the Anil Ambani group has also listed out companies like public sector giants NTPC, BHEL and NHPC, as also private sector entities like L&T, JSW Energy, Adani Power, Tata Power and Voltas Ltd in its letter to the IB, sources said.
Reliance Infra has claimed that the illegal bear cartel run by this stock market operator has caused a loss of over Rs 300,000 crore from the infrastructure sector stocks in a short period of less than 90 days ending February 9.
Other infra-sector companies listed out in the letter include Jaiprakash Associates, Neyvelli Lignite, GMR Infra, Lanco Indtatech, Jaiprakash Power Ventures, ABB Ltd, Crompton Greaves, Mundra Port, Torrent Power, Thermax, Cummins India, IRB Infra and GVK Power and Infra.

No comments:

Post a Comment