RIL adds Rs 7,500 cr to m-cap, ADAG loses Rs 9,000 cr

Market valuation of Reliance Industries today swelled by Rs 7,500 crore, even in an overall depressed market, while Anil Ambani Group (ADAG) companies saw a combined erosion of over Rs 9,000 crore.

Shares of RIL jumped to a high of Rs 1,060 after the Supreme Court gave its verdict in the gas pricing and supply dispute between Mukesh Ambani-led RIL and Anil Ambani's RNRL. RIL shares closed 2.27 per cent higher at Rs 1,033.85 on the BSE.

The market capitalisation of Reliance Industries, the country's most valued firm, went up by Rs 7,500 crore to settle at Rs 3,38,085 crore, compared to Rs 3,30,580.3 crore yesterday.

However, the shares of the ADA Group tanked on the bourses, leading to a sharp decline in their combined marketcap to the tune of Rs 9,000 crore.

The top losers among the ADA group in terms of marketcap were Reliance Power, which lost Rs 3,307 crore, and RNRL, with its valuation dwindling by Rs 2,547 crore in a single day.

Market cap of Reliance Power fell to Rs 33,579 crore at the end of trade today from Rs 36,886.75 crore yesterday.

RNRL, whose shares plunged by nearly 23 per cent, saw its marketcap plunge to Rs 8,614.76 crore from Rs 11,162.44 crore on Thursday.

The share price of other ADA group firms declined as well, including Reliance Infrastructure (lost Rs 1,660 crore), Reliance Communication (Rs 867.5 crore), Reliance Capital (637 crore) and Reliance MediaWorks (Rs 60 crore).

The Supreme Court today ruled that government has the last word on pricing and utilisation of natural gas.