New Delhi, July 24 -- Reliance Infrastructure and Reliance Power shares tumbled over 5% each in intraday trade on Thursday, July 24, after media reports surfaced about raids by the Enforcement Directorate (ED) in connection with an alleged Rs.3,000-crore bank loan fraud involving Anil Dhirubhai Ambani Group companies and Yes Bank.

According to PTI, the ED conducted simultaneous searches at more than 35 premises across Mumbai and Delhi, covering around 50 companies and 25 individuals. The raids are part of a money laundering investigation under the Prevention of Money Laundering Act (PMLA).

Citing sources, PTI reported that the agency is probing allegations of illegal loan diversion between 2017 and 2019. ED officials suspect that Yes Ba...