ADAG shares gain heavy volumes; RCapital, RInfra freeze at 5% upper circuit

In past one month, ADAG stocks rallied between 90 per cent and 200 per cent on the BSE.

Shares of Anil Dhirubhai Ambani Group (ADAG) companies were in focus with Reliance Capital (RCapital) and Reliance Infrastructure (RInfra) frozen at 5 per cent upper circuit on the BSE on Wednesday on the back of heavy volumes.

Reliance Power (RPower) and Reliance Naval and Engineering were up in the range of 2 per cent to 4 per cent after more than 10 million shares changed hands in these counters via block deals. In comparison, the S&P BSE Sensex was up 0.49 per cent at 35,088 points on the BSE.

RCapital was locked in the upper circuit of 5 per cent at Rs 13.35, surging 65 per cent in the past 11 trading days. The trading volumes on the counter jumped nearly eight-fold with a combined 14 million shares changing hands on the NSE and BSE so far. RInfra was locked in the upper circuit band of 5 per cent at Rs 40.60, zooming 90 per cent since June 16. A combined 17 million shares changed hands on both the exchanges.

Reliance Power counter has seen a combined 181 million shares changing hands, while a combined 24 million shares have changed hands on Reliance Naval and Engineering counter, data shows.

The name of the buyers and sellers in these counters were not ascertained immediately.

However, Anil Ambani, chairman of RInfra and RPower, told shareholders at a virtual annual general meeting (AGM) on June 23 that promoters will increase their stake in the firms.

The promoters plan to increase shareholding over time, in line with the applicable regulatory guidelines, RPower and RInfra said in separate statements. Promoters held 14.59 per cent stake in RInfra and 19.29 per cent in RPower as of March. CLICK HERE FOR FULL REPORT

COMPANY	LATEST	1-MONTH BEFORE	GAIN(%)
RELIANCE NAV.ENG	3.31	1.08	206.48
RELIANCE HOME	2.93	1.17	150.43
RELIANCE POWER	4.75	2.03	133.99
RELIANCE INFRA.	40.60	17.45	132.66
RELIANCE COMMUNI	1.77	0.79	124.05
RELIANCE CAPITAL	13.35	7.01	90.44