ET BureauRelated
NEW DELHI: Shares of debt-ridden Anil Dhirubhai Ambani Group (ADAG) companies hit their upper circuit limits on Monday as the board of approved preferential issuance of shares and warrants to .
Reliance Infrastructure will increase its stake in Reliance Power by converting debt into equity. Following the news, ADAG counters gained up to 5 per cent on Monday.
Reliance Power shares soared 5 per cent to Rs 13.37 on Monday, whereas Reliance Infrastructure gained 4 per cent to Rs 86.75. Both outperformed the S&P BSE Sensex index, which was down 0.39 per cent at 52,267.52.
Shares of Reliance Capital and also hit the circuit limits to trade at Rs 21.55 and Rs 4.71, respectively.
The board of Reliance Power has approved a preferential issue of up to 59.5 crore equity shares and up to 73 crore warrants convertible into an equivalent number of equity shares of the company at an issue price of Rs 10 each by conversion of debt, aggregating up to Rs 1,325 crore to Reliance Infrastructure, a listed promoter company.
ADAG counters have been on a roll in the last one year, delivering multifold returns.
For Instance, Reliance Power has jumped 420 per cent in one year. The counter is just shy of delivering a 300 per cent return in 2021, so far. The counter has doubled in just a month.
Similarly, Reliance Infrastructure has tripled investors' wealth in the last one year. The counter has rallied over 220 per cent in 2021 and 63 per cent in just a month.
Shares of other group companies such as Reliance Capital have jumped 170 per cent in the last one year . The stock has gained 89 per cent in the last one month. Reliance Home Finance has soared 200 per cent in the last one year and 80 per cent on a year-to-date basis. The counter is up 70 per cent in just a month.
Reliance Infrastructure will increase its stake in Reliance Power by converting debt into equity. Following the news, ADAG counters gained up to 5 per cent on Monday.
Reliance Power shares soared 5 per cent to Rs 13.37 on Monday, whereas Reliance Infrastructure gained 4 per cent to Rs 86.75. Both outperformed the S&P BSE Sensex index, which was down 0.39 per cent at 52,267.52.
Shares of Reliance Capital and also hit the circuit limits to trade at Rs 21.55 and Rs 4.71, respectively.
The board of Reliance Power has approved a preferential issue of up to 59.5 crore equity shares and up to 73 crore warrants convertible into an equivalent number of equity shares of the company at an issue price of Rs 10 each by conversion of debt, aggregating up to Rs 1,325 crore to Reliance Infrastructure, a listed promoter company.
ADAG counters have been on a roll in the last one year, delivering multifold returns.
For Instance, Reliance Power has jumped 420 per cent in one year. The counter is just shy of delivering a 300 per cent return in 2021, so far. The counter has doubled in just a month.
Similarly, Reliance Infrastructure has tripled investors' wealth in the last one year. The counter has rallied over 220 per cent in 2021 and 63 per cent in just a month.
Shares of other group companies such as Reliance Capital have jumped 170 per cent in the last one year . The stock has gained 89 per cent in the last one month. Reliance Home Finance has soared 200 per cent in the last one year and 80 per cent on a year-to-date basis. The counter is up 70 per cent in just a month.
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