Street signs: Reliance group vs Edelweiss, NBFC bonds, and more

Secondary market trading in corporate bonds listed on stock exchanges is gaining traction with the National Stock Exchange (NSE) recording more than usual trades

Reliance Group, Edelweiss rift widens 

The tension between Anil Ambani’s Reliance Group and Rashesh Shah-led Edelweiss group has taken an ugly turn. Sources say, Reliance Group has removed Edelweiss as an investment banker for the initial public offering (IPO) of Reliance General Insurance. The move comes after Reliance Group blamed “misconduct” by lenders, including Edelweiss, led to wipe out of Rs 13,000 crore worth of value of group companies. Edelweiss said its actions were within legal boundaries, and dismissed the allegations against it as “false”. Earlier, Reliance General had dropped UBS and IDBI Capital as bankers to the IPO. An Edelweiss