Shares of Anil Dhirubhai Ambani Group (ADAG) companies came under heavy pressure on Monday with Reliance Power (RPower) hitting a new low of Rs 4.94, tumbling 20 per cent on the BSE after the company reported a huge loss of Rs 3,559 crore for the March 2019 quarter, due to impairment and higher finance costs. The company had posted a net profit of Rs 189 crore in the year-ago quarter.
The company reported Rs 4,170 crore as impairment loss, of which Rs 1,017 crore was reduced through withdrawal from its general reserves.
Reliance Infrastructure (RInfra) hit a fresh 15-year low of Rs 67, down 9 per cent, extending its past 24 per cent fall on the BSE, after the company postponed its board meeting for the second time due to delay in Reliance Power results.
