Live Markets »News & Advice»Market News»Market News Details
Market News Details
Back

ADAG stocks erase intra-day gain; RCom, RInfra down over 3%

SI Reporter/Mumbai 11 Jun 19 | 12:18 PM

Shares of Anil Dhirubhai Ambani Group (ADAG) companies erased their entire intra-day gain and were trading lower by up to 5 per cent on the BSE despite the chairman Anil Ambani reaffirming the group's commitment to meet all future debt servicing obligations in a timely manner, through further asset monetisation plans "that are already at various stages of implementation".

Reliance Infrastructure (RInfra) slipped 4 per cent to Rs 62, after surging 12 per cent in intra-day deal on the BSE. Reliance Capital was trading 1 per cent lower at Rs 90, after hitting high of Rs 96 in intra-day trade. Reliance Power, Reliance Communications (RCom) and Reliance Naval and Engineering were down 3 to 5 per cent each on the BSE.

Related Stories

    No Related Stories Found
Widgets Magazine

However, Reliance Home Finance and Reliance Nippon Life Asset Management have bucked the trend and were up 1 per cent each. In comparison, the benchmark S&P BSE Sensex was up 0.32 per cent at 12:03 am.

Most of these stocks were trading at their multi-years low. In past one week, the market price of RInfra and Reliance Capital have plunged 36 per cent and 25 per cent, respectively, while Reliance Home Finance and Reliance Power dipped 20 per cent each.

Ambani said the Reliance Group has made aggregate debt servicing payments of over Rs 35,000 crore in the 14 month period from April 1, 2018 till May 31, 2019. These comprise principal repayments of Rs 24,800 crore and interest payments of Rs 10,600 crore.

Ambani said that in the last 14 months, lenders from all categories - whether banks, mutual funds, insurance companies, provident funds or NBFCs - have not provided any net additional liquidity or debt to any entity of the Reliance Group.

“To compound matters, the regulatory bodies and courts have not passed any final adjudication orders on claims aggregating to over Rs 30,000 crore that are due for more than 5 - 10 years to various Group companies, especially Reliance Infrastructure Ltd and Reliance Power Ltd, and their affiliates," he said. The final decisions have only been inordinately and repeatedly delayed for one reason or the other, Ambani added.

COMPANYLATEST1-WEEK BEFORELOSS(%)RELIANCE INFRA.61.6597.00-36.44RELIANCE CAPITAL90.85120.95-24.89RELIANCE HOME17.0021.50-20.93RELIANCE POWER5.637.04-20.03RELIANCE NAV.ENG6.357.69-17.43REL. COMM.1.661.97-15.74RELIANCE NIP.LIF218.55219.70-0.52

Widgets Magazine

Sensex

Company Price Gain (%)
Larsen & Toubro1,529.150.80
Vedanta169.600.74
Sun Pharma.Inds.392.350.58
Power Grid Corpn194.600.44
TCS2,252.300.09

Poll

Currently No Poll Available.

Online Portfolio

You can create Online Portfolio here using the below button.

Widgets Magazine