ADAG stocks in focus; Reliance Nippon, Reliance Capital up over 5%

Reliance Power, Reliance Communications, Reliance Home Finance, Reliance Naval and Engineering and Reliance Infrastructure were up 2% to 6% on the BSE.

Shares of Anil Dhirubhai Ambani Group (ADAG) companies have moved higher by 16 per cent in intra-day trade on Thursday, erasing most of their Wednesday’s losses on the BSE. The rally comes on the back of a Reliance Communications (RCom) statement where the company said that it is confident of paying entire Rs 550 crore and interest thereon with four weeks as directed by the Supreme Court (SC).

The group has requested for an urgent approval from its lenders to release nearly Rs 260 crore received from Income-Tax refunds lying in its bank account, directly to Ericsson, the company said