RCOM, RIL rise in morning deal on BSE
Amid the ongoing tussle between the Ambani brothers, the shares of two companies witnessed a decent rise in their share prices. When & why to sell off a stock
By PTI |
MUMBAI: Amid the ongoing tussle between the Ambani brothers, Anil Ambani led Reliance Communications and Mukesh Ambani group's flagship firm Reliance Industries, on Monday witnessed a decent rise in their share prices on the Bombay Stock Exchange in early morning trade.
After opening on a firm note at Rs 545, the scrip of Reliance Communications jumped as much as 1.16 per cent over its previous close.
RCOM witnessed a high of Rs 549.70, and over 1.94 lakh shares exchanged hands.
Similarly, Reliance Industries surged 2.17 per cent over its last close and touched an intra-day high of Rs 2,317.70. Over 1.55 lakh shares were traded within minutes of opening.
The Anil Ambani group on Sunday thrashed Mukesh Ambani led Reliance Industries' claim of rights of first refusal in former's Reliance Communications by quoting a decision of the Union Cabinet.
Meanwhile, the other ADAG group firms, Reliance Capital, Reliance Infrastructure, Reliance Power and Reliance Natural Resources were quoted at Rs 1,154.50 (up 2.14 per cent), Rs 1,048 (up 2.71 per cent), Rs 190.30 (up 1.49 per cent) and Rs 92.85 (up 3.05 per cent) respectively.
After opening on a firm note at Rs 545, the scrip of Reliance Communications jumped as much as 1.16 per cent over its previous close.
RCOM witnessed a high of Rs 549.70, and over 1.94 lakh shares exchanged hands.
Similarly, Reliance Industries surged 2.17 per cent over its last close and touched an intra-day high of Rs 2,317.70. Over 1.55 lakh shares were traded within minutes of opening.
The Anil Ambani group on Sunday thrashed Mukesh Ambani led Reliance Industries' claim of rights of first refusal in former's Reliance Communications by quoting a decision of the Union Cabinet.
Meanwhile, the other ADAG group firms, Reliance Capital, Reliance Infrastructure, Reliance Power and Reliance Natural Resources were quoted at Rs 1,154.50 (up 2.14 per cent), Rs 1,048 (up 2.71 per cent), Rs 190.30 (up 1.49 per cent) and Rs 92.85 (up 3.05 per cent) respectively.
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The constituents of Mukesh Ambani group such as Reliance Petroleum and Reliance Industrial Infrastructure were last trading at Rs 182.60 (up 1.95 per cent) and at Rs 1,007 (up 1.67 per cent) respectively.
A communication by RIL claiming its first right of refusal to buy a majority equity in RCOM had triggered the latest round of fight in middle of Anil Ambani Group company's negotiation with South African telecom major MTN group for an estimated $70 billion amalgamation deal.
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