PTI New Delhi Last Updated: March 27, 2017 | 16:11 IST
The Reliance Industries stock fell by over 2 per cent on Monday after Sebi banned the company and 12 others from equity derivatives trading for one year.
The stock, after making a weak opening, further lost 2.34 per cent to Rs 1,256.10 on BSE.
At NSE, shares of the company went down by 2.41 per cent to Rs 1,255.65.
The stock closed 3 percent or 38.65 points lower at 1247 level on the BSE. On the NSE, the stock closed 2.97 percent or 38.25 points lower at Rs 1248.50 level.
Sebi on Friday banned Reliance Industries and 12 others from equity derivatives trading for one year and directed the Mukesh Ambani-led firm to disgorge nearly Rs 1,000 crore for "unlawful gains" made through alleged fraudulent trading in a nearly 10-year-old case.
Reliance Industries said it will challenge the order before the Securities Appellate Tribunal and termed Sebi directions as "unjustifiable sanctions".
After finding that RIL made unlawful gains, Sebi has asked the company to disgorge Rs 447 crore, along with an annual interest of 12 per cent since November 29, 2007, which itself would be more than Rs 500 crore, taking the total disgorgement amount to nearly Rs 1,000 crore.
The case relates to alleged fraudulent trading in the futures and options (F&O) space in the securities of RIL's erstwhile listed subsidiary Reliance Petroleum Ltd (RPL).
