Reliance Capital, Reliance Communications up 2% as CBI gives clean chit to Anil Ambani

NEW DELHI: Shares of Reliance-Anil Dhirubhai Ambani Group (R-ADAG) companies gained over 2% on Monday on reports that the Central Bureau of Investigation (CBI) has given a clean chit to its group chairman, Anil Ambani, related to the 2G spectrum allocation case.

“The CBI, which had said that it was still probing the role of R-ADAG Chairman, Anil Ambani in the 2G scam, has said it has no evidence of his direct involvement in the structuring of different companies and transfer of funds relating to Swan Telecom, a company which got a spectrum licence under circumstances that are now being investigated by the CBI,” according to a report.

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At 10:46 a.m., shares in Reliance Communication Ltd were trading 2.02% higher at Rs 73.20, Reliance Capital Ltd was up 2.3% to Rs 322.50, Reliance Infrastructure Ltd gained 0.9% to Rs 377 while shares in Reliance Power Ltd were trading 2% higher at Rs 78.35.

Analyst Call: Deepak Mohoni, Director, trendwatchindia.com

There was initial demand also for ADAG stocks and most of them were actually up in trade. So I do not think if they are going to be short-sellers favorites today. So ADAG stocks could well hold out today.

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