According to reports, L & T Finance has sold shares of companies of Anil Dhirubhai Ambani Group or ADAG on Thursday.
According to the NSE data, L & T Finance has bought 77 million shares of Reliance Capital (Reliance Capital), Reliance Infrastructure (Reliance Infra), Reliance Communications (Reliance Communications) or RCom at Rs 5.14 a share, at Rs. 123.89 per share. Sell 49 million shares at a price of Rs 120.98 and 6.25 crore shares of Reliance Power at 10.8 rupees per share.
Significantly, since the announcement of Reliance Communications’ bankruptcy petition, the shares of ADAG companies have seen heavy sales in the last few days. On Thursday, Reliance Communications closed 5.3% shares, Reliance Power shares nearly 22%, Reliance Capital’s share of 19% and Reliance Infra’s stock fell 28%.
L & T Finance does not see any benefit from the news of selling shares of ADAG companies. The stock of L & T Finance in BSE has dropped to Rs. 128.50 in the current business till now at 133.00 rupees compared to the last close of Rs. 135.45. At around 11.40 pm, deals of Rs 6.40 or 4.72% in the company’s shares are trading at Rs 129.05.
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