Business Today
Loading...

ADAG stocks hit again, RCom falls to new low

Shares of Anil Ambani group companies continued on their downward spiral on Friday after staging a comeback in the previous session. The group's telecom arm Reliance Communications tanked over 7 per cent in noon trade on the BSE.

twitter-logoPTI | February 11, 2011 | Updated 13:14 IST

Shares of Anil Ambani group companies continued on their downward spiral on Friday after staging a comeback in the previous session. The group's telecom arm Reliance Communications tanked over 7 per cent in noon trade on the BSE.

Reliance Communications, the top loser among the Sensex frontline stocks, fell sharply by 7.09 per cent to hit an all-time low of Rs 89.70 on the Bombay Stock Exchange (BSE).

Another laggard from the Reliance Anil Dhirubhai Ambani Group was Reliance Infrastructure, which fell by 4.57 per cent to an early low of Rs 558.45. In the previous session, the stock had gained 9.45 per cent.

Profit-booking was seen in the counters of other Anil Ambani group firms as well, with Reliance Broadcast Network shedding 4.27 per cent, while Reliance Capital fell by 3.98 per cent, Reliance MediaWorks lost 4.65 per cent and Reliance Power declined by 4.48 per cent.

Stocks of various companies belonging to the Reliance Anil Dhirbuhai Ambani Group have fallen sharply in the past few weeks, which the group has blamed on corporate rivals, a cartel of stock market manipulators and 'rumour mongering'.

While the group has already sought an investigation by Sebi, the stock exchanges and investigation agencies into the matter, it said in a fresh statement on Friday that it has "identified stock brokers sending mass e-mails/SMS/ voice calls with baseless sensational charges against ADA Group."

Meanwhile, the BSE barometer index Sensex was trading lower by 128.29 points at 17,334.75 at 11.54 hours.

  • Print
  • COMMENT
BT-Story-Page-B.gif
A    A   A
close