ED Searches Anil Ambani-Linked Properties In Mumbai | Reliance Infra, Power Shares Slide 5%

The Enforcement Directorate has carried out searches at multiple locations in Mumbai linked to industrialist Anil Ambani, days after SBI declared him a 'fraud' account holder. The searches, conducted under the Prevention of Money Laundering Act (PMLA), spanned around 35 premises, covering nearly 50 companies and over 25 individuals. Following the development, shares of Reliance Infra and Reliance Power saw a decline of up to 5%. In this video, Prashanth Tapse, Senior Vice President and Research Analyst at Mehta Equities, shares his insights on the outlook for the counters.