Reliance Group says L&T Finance, Edelweiss Group caused share drop

(Reuters) - Three listed entities of Indian conglomerate Reliance Group - owned by Anil Ambani - on Friday said L&T Finance Holdings Ltd and certain entities of Edelweiss Group were responsible for their shares plunging near 55 percent over the last few days.

A few non-banking financial companies (NBFCs) invoked pledged shares of Reliance Capital Ltd, Reliance Infrastructure Ltd and Reliance Power Ltd, and made open market sale of about 4 billion rupees ($56.23 million) during Feb. 4-7, the companies said in filings https://www.bseindia.com/xml-data/corpfiling/AttachLive/670062d2-5ca6-44cc-a049-9446f30d770f.pdf.

Edelweiss Group and L&T Finance did not immediately respond to Reuters' request seeking comment.

(Reporting by Chris Thomas in Bengaluru; Editing by Rashmi Aich)