The share prices of Unitech, Reliance Communications and DB Realty fell by another 7.5%, 5.3% and 4.2%, respectively on Thursday on the Bombay Stock Exchange (BSE), even as the enforcement directorate (ED) began the process of attaching properties of the companies that are facing the the heat in the ongoing 2G spectrum scam probe.
On Wednesday, the enforcement directorate filed a status report in the Supreme Court stating that it has begun the process to attach properties worth R2,000 crore of the companies facing the 2G probe and will do so in the next two months. This weakened the investor sentiments of the three companies.
The share prices of DB Realty have already fell by 52% since January 2011. Reliance Communications and Unitech have seen their prices fall by 30.7% and 43%, respectively in the same period.While the ED report has not spelt out the names of the companies whose properties are being attached, sources say they belong to Etisalat DB, Unitech Wireless and Reliance Communications.