RIL stock closes at 6-mth low after Kejriwal accuses Ambanis of money laundering

RILStock in Reliance Industries Ltd. (RIL) slipped to its lowest level in around six months on Friday after Arvind Kejriwal's Aam Admi Party (AAP) slapped the company with money laundering charges.

AAP leader Prashant Bhushan alleged that Rs 6,530 crore had been invested into four companies of Mukesh Ambani-led Reliance Industries group by Bio Metrix Marketing and Strasbourg Holdings in Singapore.

On Sunday, AAP chief Arvind Kejriwal challenged the BJP's prime ministerial candidate Narendra Modi to get black money kept in foreign banks back to India. He mentioned two Swiss bank account numbers, claiming that those accounts belonged to Mukesh Ambani and Anil Ambani.

However, RIL refuted the money laundering charges, saying the allegations were false.

Refuting he charges, the company said, "The allegations that ill-gotten laundered money or profits have either been made or that these have been deposited in the accounts of Mukesh Ambani through Singapore or otherwise are false and are treated by us with the contempt that they deserve."

RIL shares opened at Rs 810 apiece and soared to as high as Rs 815 apiece in early morning deals on the National Stock Exchange (NSE). But later it slipped to as low as Rs 796 apiece. The stock closed at Rs 799.25 per share, down 1.39 per cent, from the previous close. It was the first time in around six months that the stock fell below mark of Rs 800 a share on the exchange.