ADAG stocks dip: Reliance Home Finance at new low; Reliance Capital down 6%

Brickwork revised ratings of various exiting debt instruments of Reliance Capital and continues the rating on credit watch with negative implications.

Shares of Anil Dhirubhai Ambani Group (ADAG) companies are under pressure in trade on Monday, with Reliance Home Finance hitting a new low, and Reliance Capital (RCap) slipping 6 per cent in intra-day trade on the BSE. The fall comes after Brickwork Ratings (Brickwork) revised the ratings of various existing debt instruments of RCap and continued with the 'credit watch' rating with negative implications.

The rating revision factors the deterioration in liquidity profile of the group due to challenges faced by RCap and its key lending subsidiaries, Reliance Commercial Finance Limited (RCF) and Reliance Home Finance Limited (RHF), to