Shares of Anil Dhirubhai Ambani (ADAG) led Reliance group companies - Reliance Infrastructure (R-Infra), Reliance Power, Reliance Capital and Reliance Communication have rallied more than 5% each on back of huge volumes.
Reliance Infrastructure (R-Infra) has soared 8% to Rs 507 after the company through its subsidiary Reliance Cement Company Private Limited announced the launch of its first cement under the brand name ‘Reliance Cement’." The stock opened at Rs 480 and hit a high of Rs 512 on the BSE.
The trading volumes on the counter more than doubled with a combined 4.07 million shares changing hands on the counter so far on both the exchanges.
Reliance Power has surged to 7% at Rs 87.45 after the company announced the commissioning of 400Kv switchyard at the Sasan Ultra mega power plant.
“With this the 3,960 MW Sasan UMPP is now connected to the national grid. The project is now ready to draw power from the grid to provide start-up power for the first 660 MW unit which is nearing completion, 5 months ahead of the scheduled date of commissioning. The same switchyard would enable evacuation of the power to 7 states which would be using power from the Sasan UMPP,” the company said in a filing.
