ADA Group shares rally, R-Infra soars 14%
Shares of Anil Dhirubhai Ambani (ADA) Group companies – Reliance Infrastructure, Reliance Capital, Reliance Communication, Reliance Power, Reliance MediaWorks and Reliance Broadcast Network have rallied more than 5% each on back of huge volumes.
Reliance Infrastructure has zoomed 14% to Rs 481, with trading volumes on the counter more than doubled. A combined 1.9 million shares have changed hands on the counter till 1441 hours.
According to media reports that the Maharashtra government wants the Reliance Infra-Hyundai consortium to begin work on the Worli-Haji Ali sea link project immediately.
However, the consortium wants the government to issue an order confirming that MSRDC will pay the viability gap fund of Rs 1,392 crore required for the project. Work on the 4.7-km link was expected to begin in July, report added.
Among the other ADA pack, Reliance Capital soared 9% to Rs 376, followed by Reliance Communications (up 8%), Reliance MediaWorks and Reliance Broadcast Network (up 6% each) and Reliance Power (up 4%) on the Bombay Stock Exchange.
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|---|---|---|
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