Singh has been alleging that the state government had acquired land from farmers for the Reliance Energy power project at dirt cheap prices and is leading a campaign on the issue.
The Sensex finally ended with a loss of 834 points (4.8% ) at 16,631. The NSE Nifty slipped over 5% (263 points) to 4,857.
Index majors NTPC, BHEL, Reliance Reliance Energy, Reliance Communications and HDFC, DLF, TCS, SBI and Bajaj Auto have zoomed.
While the investors have lost a whopping Rs 6,63,975 crore (Rs 6,639.75 billion) in just one trading session from market cap of Rs 66,17,501.33 crore (Rs 66,175.01 billion) on Friday last week. The investors had lost over 5,21,310 crore (Rs 5,213.1 billion) in the five trading sessions last week.
The BSE's 30-share barometer index continued its slide on Friday, fifth straight day, with a fall of 687.12 points led by sharp losses in blue-chips like RIL, DLF, ICICI Bank, Reliance Energy and Reliance Communications. The Sensex has lost 1,813.75 points in last five trading sessions, while investors' wealth -- measured in terms of cumulative market capitalisation of all the listed companies -- has declined by Rs 5,21,310 crore (Rs 5,213.1 billion).
Sasan Power Ltd, the special purpose vehicle floated by Power Finance Corporation for the 4,000 MW project, will on Wednesday issue the Letter of Intent to Reliance Power Ltd.
The Anil Dhirubhai Ambani Group, which is raising Rs 11,700 crore through the public offer of Reliance Power, has seen a value erosion of Rs 48,000 crore in the last seven days.
Anil Dhirubhai Ambani group company Reliance Energy said on Tuesday the amalgamation of Reliance Energy Ventures Ltd with itself has become effective from July 17.
The country's biggest IPO will close on January 18.
Anil Dhirubhai Ambani has picked up 2.16 per cent stake in his group company Reliance Energy Ventures Ltd through open market transactions, taking his total stake in the company to 41.77 per cent.
Reliance Energy Ltd plans to invest Rs 60,000 crore (Rs 600 billion) over the next five years to add 15,000 MW of power generation capacity, company chairman Anil Ambani said in Mumbai on Tuesday.
The Maharashtra government's decision on the successful bidder to build its showcase project of around Rs 4,500 crore (Rs 45 billion), Mumbai Trans-Harbour Link (MTHL) or sea link between Sewri in island city of Mumbai and Nhava Sheva, is going to be watched keenly by the corporate world as Anil Ambani's Reliance Energy (REL)-led consortium is all set to submit its bid by December 15 after a long drawn legal battle.
Shares of Reliance Industries plunged on Friday after a court ruling that the Mukesh Ambani-led company can not sell its KG basin gas to any company except NTPC and Anil Ambani group's Reliance Natural Resources.
Reliance Energy Ltd said on Friday the Appellate Tribunal for Electricity has quashed an order of Maharashtra Electricity Regulatory Commission that restricted the company from offering rebates to its retail consumers in the city.
Uttar Pradesh Chief Minister Mayawati on Friday said all major decisions of the previous Mulayam Singh government, including Reliance Energy's Dadri power project, would be reviewed.
The government will sign contracts on Tuesday for exploitation of gas trapped below coal seams in nine areas with three consortia, including one led by Anil Ambani Group companies.\n
The lower sales growth rate is on account of single-digit growth in sales by Reliance Industries (6.3 per cent), Reliance Energy (9.53 per cent), Hero Honda (5.48 per cent) and Biocon (7.52 per cent). Companies that posted a decline in sales included two-wheeler giant Bajaj Auto (- 3.03 per cent), pharmaceutical major Ranbaxy (-4.79 per cent) and Madras Aluminium (-11.13 per cent).
Anand Jain, a key confidant of Reliance chairman and managing director Mukesh Ambani, has not quit the board of the group's petrochemical company IPCL contrary to media reports.\n\n
Anil Dhirubhai Ambani Group on Wednesday announced the process for listing of the four new companies, which were transferred by Mukesh Ambani group to them on Tuesday, will begin next week.
The Ambani brothers on Saturday reached a settlement to split between themselves, assets of India's largest private sector conglomerate, with over Rs 97,000 crore (Rs 970 billion) in revenues, founded by their late father Dhirubhai.
Corporate leaders like Reliance Energy and Tata group have evinced interest in Punjab government's proposed three power plants of 5,000 mw - a move that will make the state power surplus within three and half years.
Reliance Energy Ltd and Tata Power Company are eyeing an equity stake in an Indonesian coal firm -- Bumi Resources -- to meet fuel requirements for their power plants in India.
After making its entry into the Bombay Stock Exchange's benchmark 30-share index Sensex in May
Reliance Energy Ltd (REL,) that supplies power to the suburbs of Mumbai and New Mumbai, has spent Rs 30 crore (Rs 300 million) to ensure better power supply restoration system this year.
The Appellate Tribunal for Electricity has set aside an order of Maharashtra Electricity Regulatory Commission against Reliance Energy Ltd on a dispute related to billing complaints by its customers in Mumbai.
Reliance Energy Limited has outbid seven other companies, including Tata Power and GMR, to emerge as the top contender for building India's first fully independent private power transmission lines.
Reliance Energy Limited has signed a Memorandum of Understanding with the Maharashtra Industrial Development Corporation to set up two group captive power plants at Butibori in Nagpur and Thane-Belapur belt near Mumbai.
The Indian majors had a last minute meeting with civil aviation ministry officials before filing their bids.
Tatas, Essar, Reliance Energy and L&T are among the dozen companies in race to build India's first fully independent private power transmission lines in Gujarat and Maharashtra at an estimated investment of Rs 1,500 crore (Rs 15 billion).
With a shortage of 5,000 mw of power, all cities in Maharashtra face up to six hours of power cut and rural areas are in the dark for 16 hours daily.
Jagdish Malkani, member of the National Stock Exchange, says that cement as a sector is definitely attractive; and hotels too are doing extremely well.
Reliance Industries chief Mukesh Ambani on Thursday met Finance Minister P Chidambaram and other senior officials in the ministry.
Reliance Wind Energy, a subsidiary of Reliance Energy, on Monday said it has signed an agreement with Suzlon Energy for setting up a 150 MW wind power project, in which the Anil Dhirubhai Ambani group firm would invest Rs 900 crore (Rs 9 billion).
Anil Ambani on Wednesday took over as the Chairman of Reliance Communication Ventures Ltd, a day after the Mukesh Ambani Group handed over management control of the demerged companies to the younger sibling.
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