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SEBI to Investigate Ambani Companies ?

March 7, 2008

The new SEBI chief, Chandu Bhave is silent about his actions but according to reports, he has taken up the investigation of Ambani companies [Anil & Mukesh] about the exponential rise in group company stock prices.

Companies controlled by Mukesh Ambani likely to fall under investigation are,
Reliance Industrial Infrastructure Ltd – Stock price rose from Rs 380 to Rs 3,500 and has collapsed to Rs 1,150.

Anil Ambani has lot of small companies whose share prices sky rocketed.
All the above Anil Ambani controlled companies are hammered on the bourses today. SEBI is likely to investigate the stock price movement in the following companies controlled by Anil Ambani,

Reliance Natural Resources – The stock jumped from Rs 25 to Rs 250. This company doesn’t even have any operations. Stock has now crashed Rs 100 levels.
Reliance Capital: Shot up from Rs 900 levels to Rs 3000.
Adlabs Films: Shot up from Rs 400 levels to Rs 2000 and crashed to Rs 600 levels.

One more company SEBI should consider investigating is Jai Corp Ltd, controlled by Anand Jain whose price shot from Rs 80 to Rs 1500 and is now in 5% downward circuit at Rs 717.

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