Shares of Anil Dhirubhai Ambani Group (ADAG) companies are under pressure, slipping by up to 14 per cent on Thursday, and extending their Tuesday’s 6 per cent fall on the BSE on back of heavy volumes.
Reliance Power (down 14 per cent at Rs 8.16) and Reliance Communications (down 5 per cent at Rs 2.20) hit their respective all-time lows today.
Reliance Capital has slipped 9 per cent to Rs 157, falling 15 per cent in past two trading sessions. According to the shareholding pattern data for March 2019 quarter filed by the company reveals that the promoters’ stake in Reliance Capital has slipped below 50 per cent. Reliance Capital witnessed a 4.79 percentage point (ppt) decline in the promoter stake in the recently concluded quarter to 47.48 per cent. The promoters held 52.24 per cent stake in the company at the end of December 2018 quarter.
