ADAG Group Stocks Rally; RCom Gains 19%

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Amid a subdued market, in a holiday-truncated week, shares of Anil Dhirubhai Ambani Group (ADAG) rallied up in intraday trade today with gains of between 1-19% on the BSE. The surge has come on the back of heavy volume in these scrips.

ADAG Group Stocks Rally; RCom Gains 19%

Reliance Communications has touched an intra-day high of Rs. 19.45 with gains of 19% on the BSE. With this run up in price, RCom has managed to register 64% gains in one week's time. As reported, Reliance Jio Infocomm has spearheaded plans to acquire the assets of debt-laden Reliance Communications.

Other scrips from the ADAG pack, Reliance Infra, Reliance Capital, Reliance Power, Reliance Naval and Engineering, Reliance Nippon Life Asset Management and Reliance Home Finance were also trading higher.

Reliance Infra was trading higher by over 1% at Rs.535.7 at 2:46 pm. The company has announced sale of its power business based out of Mumbai to Adani Group for a financial consideration of Rs. 13,251 crore.

Meanwhile Sensex after hitting a historic high of 34000 in early trade today was trading lower by 0.05% 33922 while Nifty was hovering at around 10,490 at 2:50 pm.

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