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ADAG Group Shares Continue To Surge; Hit Fresh 52-Week High: Here's Why
Anil Dhirubhai Ambani Group companies for sometime are on a roll and in today's session have yet again hit 52-week high price. Below is the list of ADAG companies with their respective 52-week highs made today:
| ADAG company | 52-week high price hit on June 17, 2021 | 1-month return ( per cent) | YTD returns (percent) |
|---|---|---|---|
| Reliance Communications | Rs. 4.05 | 151 | 120 |
| Reliance Capital | Rs. 24.65 | 124 | 107 |
| Reliance Home Finance | Rs. 5.05 | 106 | 107 |
| Reliance Infrastructure | Rs. 100.95 | 100 | 276 |
| Reliance Naval and Engineering | Rs. 5.55 | 100 | 83 |
| Reliance Power | Rs. 15.10 | 134 | 356 |
Notably, Sensex in 1-month has yielded a return of over 5 percent, while YTD return from the BSE index have been 9.79%
Why the rally in ADAG company shares?
In the views of Asutosh Mishra, Head of Research - Institutional Equity at Ashika Stock Broking, for the ADAG group companies that are under the NCLT resolution process, the financial decision shall be taken by the firms in the next few weeks. Preliminary data or trends suggest that overall revival shall be much higher in comparison to the amount i.e. payable to the companies' creditors, thereby leaving enough value for the companies' existing shareholders. This is what is creating renewed interest in the ADAG group shares.
Nonetheless he went on to say that as the final result of the NCLT resolution process is not known clearly, some of these up moves may be purely speculative in nature. So, by and large investors should avoid these counters owing to high uncertainty in relation to the NCLT outcome.
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