Anil Dhirubahi Ambani Group Shares Plunge To 52-Week Lows

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Shares in Anil Dhirubhai Ambani (ADAG) group companies have plunged to 52-week lows in the last two-days with Reliance Home Finance, Reliance Nippon, Reliance Capital and Reliance Communications (RCOM) all sinking lower.

Anil Dhirubahi Ambani Group Shares Plunge To 52-Week Lows
This was following Rcom's failure to pay a coupon on its 2020 dollar notes before the expiry of its grace earlier period on Monday.

This was known to be the most high-profile default on international debt since the nation's insolvency and bankruptcy code was passed in May 2016.

Reliance Capital was last seen trading at Rs 408, after dropping to a 52-week low of Rs 400 on November 15. Reliance Home Finance recovered to Rs 67.25, after hitting a 52-week low of Rs 62.25 on the NSE.

Reliance Nippon Asset management, dropped to a new 52-week low of Rs 237.50 on the NSE, before some buying interest lifted the shares to Rs 449. Volatility in these shares has increased substantially over the last few days.

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