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Adani, ADAG Group stocks in focus; Adani Transmission hits record high

Adani Transmission hit a record high of Rs 248, up 10% in intra-day trade, extending its previous day's 10% rally.

SI Reporter  |  Mumbai 

Adani, ADAG Group stocks in focus; Adani Transmission hits record high

Shares of Gautam Adani-led Adani Group and Anil Dhirubhai Ambani (ADAG) Group companies were in focus for the second straight day and rallied by upto 10% in early morning trade on the BSE. Adani Transmission, Adani Power, Adani Enterprises, Adani Ports and Special Economic Zone from the Adani Group were up in the range of 1% to 10%. (RInfra), Reliance Capital, Reliance Communications, Reliance Home Finance, Reliance Power, Reliance Nippon Life Asset Management and Reliance Naval and Engineering from the Group up between 1% and 8% on the BSE in intra-day trade. on Thursday announced signing of a binding agreement with RInfra for buying the latter’s 100% stake in the Mumbai power business. READ REPORT HERE For Adani Transmission, the deal marks its entry into the power distribution business and access to the Mumbai distribution circle makes it a significant player in India’s private power distribution space. “RInfra will utilise the proceeds of this transaction entirely to reduce its debt, becoming debt-free, and up to Rs 3,000 crore cash surplus,” the company said in a statement. hit a record high of Rs 248, up 10% in intra-day trade, extending its previous day’s 10% rally on the BSE. RInfra surged 8% to Rs 544, extending its 14% gain in past two trading sessions.

COMPANY LATEST PREV CLOSE GAIN(%)
ADANI TRANSMISSI 242.05 225.25 7.5
ADANI POWER 39.05 36.40 7.3
RELIANCE INFRA. 527.35 504.00 4.6
RELIANCE CAPITAL 491.65 479.35 2.6
RELIANCE NIP.

LIF

286.25 280.75 2.0
RELIANCE POWER 40.90 40.30 1.5
ADANI ENTERP. 165.05 162.65 1.5
RELIANCE NAV. ENG 40.00 39.60 1.0
ADANI PORTS 406.80 403.45 0.8
RELIANCE HOME 89.15 88.45 0.8
REL. COMM. 18.06 17.97 0.5

First Published: Fri, December 22 2017. 09:59 IST
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