ADAG shares gain on deal with lenders; RCom up 18%, RInfra rallies 15%

Reliance Communications, Reliance Power, Reliance Infrastructure, Reliance Capital, Reliance Naval and Engineering, Reliance Home Finance and Reliance Nippon Life Asset Management were up more than 5%

Shares of Anil Dhirubhai Ambani Group (ADAG) companies are in focus on Monday and rallied by up to 18 per cent on the BSE in intra-day trade, after the group reached an in-principle understanding with a little more than 90 per cent of its lenders regarding sale of pledged shares.

According to reports, the lenders to ADAG have agreed not to sell pledged shares in the group till September. That apart, the group informed the lenders that it had appointed investment bankers to sell up to 30 per cent of the shareholding in Reliance Power (R-Power) to institutional investors