ADAG stocks fall: RCom, RInfra slip further

RCom's stock fell below its face value of Rs5 in Wednesday’s trade.

Feb 06, 2019 03:02 IST India Infoline News Service

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Stocks in the Anil Dhirubhai Ambani Group (ADAG) extended their declines in the last hour of the session on Wednesday.

Reliance Communication (RCom) hit a new intraday low on the BSE on Wednesday. The stock has plunged 58% in the past three sessions after the telecom service company said on Friday that it will be filing for bankruptcy.

Further, the company had informed the exchanges on Sunday that it plans to propose a similar debt resolution plan in the tribunal which was earlier being pursued with creditors. The stock fell below its face value of Rs5 in Wednesday’s trade.

Meanwhile, the Sensex was trading 353 points higher at 36,970, while the Nifty rose 124 points to 11,058.

Stock view:

Reliance Communications Ltd share price is currently at Rs5.33, down Rs0.11, or 2.02%, from its previous close of Rs5.44 on the BSE. The scrip opened at Rs5.19 and has touched a high and low of Rs5.98 and Rs4.85, respectively.

Reliance Infrastructure Ltd
 share price is currently at Rs151.75, down Rs75.45, or 33.21%, from its previous close of Rs227.20 on the BSE. The scrip opened at Rs228.20 and has touched a high and low of Rs229 and Rs141.75, respectively.

Reliance Capital Ltd share price is currently at Rs143.50, down Rs8.65, or 5.69%, from its previous close of Rs152.15 on the BSE. The scrip opened at Rs152.20 and has touched a high and low of Rs156.30 and Rs135.95, respectively.

Reliance Naval & Engineering Ltd
 share price is currently at Rs8.16, down Rs0.57, or 6.53%, from its previous close of Rs8.73 on the BSE. The scrip opened at Rs8.08 and has touched a high and low of Rs8.73 and Rs7.75, respectively.

Reliance Nippon Life Asset Management Ltd share price is currently at Rs160, up Rs22.8, or 16.62%, from its previous close of Rs137.20 on the BSE. The scrip opened at Rs137.60 and has touched a high and low of Rs162.40 and Rs134, respectively.

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