Anil Ambani assures AGM as Reliance Group scrips tumble to year’s low

Mumbai: Shares of four companies of Anil Ambani’s Reliance Group tumbled to 52-week lows on Monday even as the chairman spoke at annual meetings of shareholders, reassuring them that the group was on track to repay Rs 50,000 crore of debt and that a bigger amount of receivables was stuck in legal disputes.

Reliance Capital, which will exit all lending business, and Reliance InfrastructureNSE 5.29 %, plunged over 12 per cent while Reliance PowerNSE 18.18 % closed at Rs 2.20 a share, falling almost 9 per cent. Shares of bankrupt Reliance Communication, for which the resolution professional chaired the meeting, fell to a day’s low of Rs 0.75, close to the 52-week low of Rs 0.71. Reliance Home Finance fell 4.5 per cent to Rs 3.83.