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Shares of Anil Ambani led Reliance Group (ADAG) companies continued their upward journey and rallied by up to 28% on the BSE on the back of heavy volumes in an otherwise subdued market. Reliance Power, Reliance Home Finance and Engineering and Reliance Capital were up more than 4% each. On comparison, the S&P BSE Sensex was trading 5 points lower at 34,052 at 12:45 PM. Reliance Power and Reliance Nippon Life Asset Management have hit their respective 52-week highs on the BSE in intra-day trade. In past one month, the stock of Reliance Communications (RCom) appreciated by three-fold from Rs 12.36 to Rs 36 today. RCom on Thursday, December 28, 2017 announced it has signed definitive binding agreements with Reliance Jio Infocomm Limited (RJio) for sale of wireless spectrum, tower, fibre and Media Convergence Node (MCN) assets. The announcement comes just two days after RCom disclosed a new deal with the lenders under which nearly Rs 40,000 crore will be raised through sale of assets, averting an imminent takeover by the 35 local and foreign banks. The deal will bring an immediate relief to RCom, which is reeling under Rs 45,000 crore debt, and the company hopes to use the entire proceeds to pare its debt. Among the individual stock, Reliance Naval and Engineering has surged 28% to Rs 62.90 on the BSE in intra-day trade today. Currently, the stock was trading 24% higher at Rs 61.10 on back of an over five-fold jump in trading volumes. A combined 54.48 million shares changed hands on the BSE and NSE so far. The BSE said, the Exchange has sought clarification from Reliance Naval and Engineering on January 01, 2018, with reference to increase in price. The reply is awaited. Reliance Power soared 21% to Rs 60.60, also its 52-week high on the BSE with trading volumes on the counter jumped five-fold.
A 101 million shares changed hands on both the exchanges so far. In past one month, the stock rallied 62% from Rs 37.45.
|Latest||Gain in %|
|COMPANY||Price in Rs||1 month||1 day|
|RELIANCE NAV. ENG||61.15||57.0||25.1|
|RELIANCE NIP. LIF||303.35||17.1||2.0|