ADAG stocks trade weak; RCom hits new low after lenders sell pledge shares

RCom, Reliance Capital, Reliance Power, Reliance Infra, Reliance Naval, Reliance Home Finance and Reliance Nippon Life Asset Management were down 2% to 7% on the BSE.

Shares of Anil Dhirubhai Ambani Group (ADAG) companies were under pressure with Reliance Communications (RCom) hitting a new low of Rs 4.65, down 5 per cent on the BSE, after lenders sold 120 million pledged shares that accounted for 4.34 per cent stake of promoters in the telecom firm.

Besides RCom, Reliance Capital (down 7 per cent at Rs 175), Reliance Power (4 per cent at Rs 11), Reliance Infrastructure (3 per cent at Rs 126), Reliance Naval and Engineering (3 per cent at Rs 10), Reliance Home Finance (3 per cent at Rs 27) and Reliance Nippon Life