Reliance Power shares crash 5% as ED seizes ₹2,033 crore assets in FEMA case against Anil Ambani firm - What's next?

What happened: Reliance Power shares fell over 5% after the Enforcement Directorate seized Indian assets worth ₹2,032.81 crore belonging to the Anil Ambani-led company under a FEMA investigation. Reliance Power said it disputes the allegations and will take appropriate legal steps. Key numbers: Assets seized ₹2,032.81 crore; seizure order dated 12 October; SEBI action tied to write-offs of ₹2,101.46 crore; Why it matters: Analysts said the stock remains in a downtrend, trading below key moving averages with an RSI of 31.22. Support levels cited at ₹19 and ₹18.50, with resistance at ₹21.50.

Reliance Power shares fell over 5% after the Enforcement Directorate seized Indian assets worth ₹2,032.81 crore belonging to the Anil Ambani-led company under a FEMA investigation. Reliance Power said it disputes the allegations and will take appropriate legal steps.

Analysts said the stock remains in a downtrend, trading below key moving averages with an RSI of 31.22. Support levels cited at ₹19 and ₹18.50, with resistance at ₹21.50.