New Delhi: The stock market is under pressure today i.e. Friday due to the huge fall on Thursday. Today's trading opened with a decline. At the same time, the shares of Anil Ambani-owned company Reliance Power have hit a lower circuit of 5 percent. Earlier on Thursday, on a day of decline, this stock had hit an upper circuit of 5 percent. This decline in the stock on Friday came after a subsidiary of Reliance Power was banned from participating in SECI's tender. However, this stock has performed well during the last one year and has given multi-bagger returns to its investors.

Banned for 3 years

In fact, on Thursday, Reliance Power's subsidiary Reliance NU BESS was banned for three years from participating in the tender of Solar Energy Corporation of India. This ban has been imposed for allegedly submitting fake documents on behalf of the company.

Solar Energy Corporation of India said in a note, "Based on the investigation of the documents submitted by Maharashtra Energy Generation, now known as Reliance NU BESS (for a project), it was found that as per the tender requirements, the bank guarantee against EMD (issued by a foreign bank) was supported. ''As submitted by the bidder, it was fake.''

5 percent lower circuit

On Thursday, Reliance Power shares closed 5 percent lower at Rs 41.58 from its previous close of Rs 43.77. This power sector stock has declined by 9 percent in the last one month. However, recently the company had announced that it has repaid all its debts, after which it hit an upper circuit.