ADAG Group stocks rally on hopes of gains for SP

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ADAG Group stocks rally on hopes of gains for SP
The Anil Dhirubhai Ambani Group (ADAG) stocks rallied in trade today on hopes that the Samajwadi party would be able to form a government in Uttar Pradesh.

Anil Ambani, Chairman of the ADAG Group is known to be close to SP President Mulayam Singh Yadav. Brokers stated that this was more sentiment driven than any material gains for the ADAG Group.

Reliance Infrastructure was up almost 5.6%, while Reliance Power gained 5% and Reliance Communications more than 2.6% by close of trading. Interestingly, the rise was despite the sharp drop in the indices witnessed today.

Read more about: adag, reliance power, rcom
Story first published: Monday, March 5, 2012, 11:39 [IST]
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