The Ambani truce has had a ripple effect on the market capitalisation of the two groups. While the Mukesh Ambani group companies ?Reliance Industries and Reliance Industrial Infrastructure?added Rs 8,863 crore of market value, the seven listed companies of ADAG companies gained Rs 9,414 crore in market capitalisation.
Total market capitalisation of Mukesh Ambani group companies stands at Rs 3,35,640 crore, while that of younger brother Anil is Rs 1,16,481 crore.
Shares of Anil Dhirubhai Ambani Group (ADAG) companies gained more than that of Mukesh’s. In fact, ADAG companies on Monday regained the entire losses made in terms of market capitalisation after the court verdict was announced in favour of Mukesh Ambani.
ADAG group stocks gained between 4% and 23%. Reliance Communications surged 11% to close at Rs 148, while Reliance Power gained 8% (at Rs 150) and Reliance Infrastructure gained 6%. Reliance Natural Resources (RNRL), which had got battered the most post the Supreme Court hearing, gained the most (23%) and ended above its pre-crash level.
Reliance Industries, India? largest private sector company, gained 2.6% to close at Rs 1,023 while Reliance Industrial Infrastructure surged over 11% to end at Rs 786. ?The two groups now get the opportunity to invest in many more businesses which were closed to them before,? said P Phani Sekhar of Angel Broking. ?Overall, the announcements are directionally positive because of the firm steps being taken toward a final truce.?
The Supreme Court on May 7 had said the family MoU between the two brothers is not binding and had asked the brothers to renegotiate the deal. Both the groups had issued identical statements on Sunday, stating that they are hopeful and confident that all these steps will create an environment of harmony, co-operation and collaboration between the two groups and will enhance shareholder value.