ADAG stocks crash; RInfra tanks 38%, RCom ends near its face value of Rs 5

RInfra tanked 38 per cent to Rs 142 on the BSE with an over 10-fold jump in trading volume.

Shares of Anil Dhirubhai Ambani Group (ADAG) companies extended their losing spree with Reliance Infrastructure crashing 38 per cent, while Reliance Communication (RCom) ended near its face value of Rs 5 on the BSE.

RInfra has tanked 38 per cent to Rs 142 on the BSE with an over 10-fold jump in trading volume. A combined 96 million equity shares representing 35 per cent of the total equity of RInfra changed hands on the NSE and BSE today, the exchanges' data showed. The stock settled 32 per cent lower at Rs 154, as compared to a 1 per cent rise in the S&P BSE Sensex.

RInfra pledged 83.59 per cent of promoter holdings as of December 31, 2018, the shareholding pattern data showed.

RCom hit a new low of Rs 4.85, down 11 per cent on the BSE in the intra-day deal. The stock closed at Rs 5.48, nearly 1 per cent higher. It has plunged 53 per cent in the past three trading days, after RCom post market hours on Friday said it will be filing for bankruptcy in the National Company Law Tribunal (NCLT). RCom had informed the exchanges on Sunday that it plans to propose a similar debt resolution plan in the tribunal which was earlier being pursued with creditors.



Besides RCom, Reliance Power (down 14 per cent at Rs 10.30), Reliance Home Finance (down 12 per cent at Rs 26) and Reliance Naval and Engineering (down 11 per cent at Rs 7.75) too hit their respective new lows on the BSE in intra-day trade today.

In the past three trading day, except Reliance Nippon Life Asset Management (up 20 per cent), all remaining six listed companies from the ADAG were down 22 per cent to 53 per cent on the BSE. A combined market capitalisation of seven ADAG companies eroded by 30 per cent or by Rs 10,116 crore during the period.

	price on BSE in Rs			% chg
Company	01/02/2019	05/02/2019	06/02/2019	1 day	3 days
Reliance Infra.	266.95	227.20	154.00	-32.2	-42.3
Reliance Home	34.55	29.60	27.00	-8.8	-21.9
Reliance Naval Eng	11.82	8.73	8.23	-5.7	-30.4
Reliance Capital	189.15	152.15	143.75	-5.5	-24.0
Reliance Comm.	11.60	5.44	5.48	0.7	-52.8
Reliance Power	26.35	11.95	12.75	6.7	-51.6
Reliance Nippon Life	135.80	137.20	162.30	18.3	19.5