ADAG stocks plunge up to 20% after RPower posts loss of Rs 3,559 cr for Q4

Reliance Power collapsed 19.94 per cent to Rs 4.94, while Reliance Infrastructure was down 9.2 per cent to hit an all-time low of Rs 67.15

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