In a major setback for the Anil Ambani-led ADAG group, Reliance Infrastructure has been admitted into the Insolvency Resolution Process (IRP) under the Insolvency and Bankruptcy Code (IBC). Following this development, stock exchanges have placed the company’s shares under Additional Surveillance Measures (ASM), significantly restricting trading activity. As per exchange guidelines, Reliance Infrastructure shares will now trade only once a week, on Mondays. Only selling will be permitted, while fresh buying has been prohibited on trading platforms such as Zerodha. The move is aimed at curbing speculative activity and protecting retail investors amid heightened volatility surrounding the stock.
Brokerage communication to investors…