ADA Group firms surge amid market rally
Mumbai (PTI): Shares of Anil Dhirubhai Ambani Group companies, including Reliance Energy, Reliance Capital, on Tuesday gained between 5-18 per cent following a surge in the benchmark index, Sensex, of over 900 points.
Reliance Energy scrip gained nearly 13 per cent to settle at Rs 1,300.15, while Reliance Capital, the biggest gainer among the ADAG companies, jumped 18 per cent to close at Rs 1,328.75.
The other group firms including Reliance Communications, Adlabs Films, Reliance Power and Reliance Natural Resources also witnessed smart gains on the BSE on Tuesday.
Reliance Communication settled up six per cent at Rs 538.20, while telecom major Bharti Airtel managed to settle at Rs 834.35, up 4.23 per cent on the BSE, and Idea Cellular closed at Rs 97.85, up 3 per cent. Adlabs Films and RNRL ended up 12 per cent and seven per cent respectively.
The benchmark Sensex today settled up 928 points at 16,217.49 points following a bounce back in the US market and resumption of buying by domestic and overseas funds.
The group's newly-listed entity Reliance Power also surged about 4 per cent to end at Rs 319.55. Other power firms NTPC and Tata Power also closed up four and six per cent.
Reliance Communications witnessed a gain in its market capitalisation, which stood at Rs 1,11,085 crore, followed by Reliance Energy with Rs 30,752 crore and Reliance Power Rs 72,212 crore.
Besides, Mukesh Ambani group firm Reliance Industries gained 5.16 per cent to close at Rs 2,314.40. RIL is the most valued firm on the bourses with a market capitsalisation of over Rs 3.36 lakh crore. Other MDA group firms Reliance Petroleum ended 4.74 per cent up and Reliance Industrial Infrastructure hit its upper circuit limit, ending five per cent in the green.
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