The shares of three Anil Dhirubhai Ambani Group (ADAG) companies contributed around 18% of the total turnover on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Monday. Reliance Energy Ltd (REL), Reliance Capital Ltd (RCL) and Reliance Communication Ltd (RCOM) not only witnessed heavy trading volumes but also touched new highs during the session.
These three stocks contributed Rs 1,241 crore, or 18%, of BSE’s turnover of Rs 7,229 crore. On NSE, these counters together clocked a turnover of Rs 3,341 crore, or 19.24%, of the exchange’s total turnover of Rs 17,357 crore.
REL surged close to 12% to a record high on the BSE, riding on the announcement that its subsidiary Reliance Power will soon enter the capital market. The stock touched an intra-day high of Rs 1,366.10, up 13.32% from Friday’s close of Rs 1,205.50, before closing at Rs 1,349.40, up 11.94%. On BSE the counter clocked turnover of Rs 557 crore while on NSE it registered turnover of Rs 1,451 crore.
Reliance Power is expected to file next week its draft prospectus for the IPO, which is aimed at part-financing its about Rs 100,000 crore investment plan for setting up coal, gas and hydro power projects in the country.
Another ADAG company, RCL, also surged 14.65% to an all-time high of Rs 1,808.65 on BSE where it clocked turnover of Rs 493 crore with 28.22 lakh shares changing hands while on NSE it registered a turnover of Rs 1,245 crore amidst tradingof 71.36 lakh shares. Following surge in its market price, RCL’s market capitalisation (M-Cap) too, crossed the Rs 40,013 crore or 10 billion dollar-mark.
The stock price of the telecom arm of the group, RCOM, also shot up to 52-week high at Rs 621.40 and ended 4.5% higher at Rs 611.90 with a turnover of Rs 191 crore on BSE where 31.53 lakh RCOM shares changed hands. On the NSE, over 1.06 crore RCOM shares changed hands registering a turnover of Rs 645 crore.