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Reliance investors richer by Rs 15k cr
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May 21, 2007 19:21 IST

Shareholders in the companies  controlled by the two Ambani brothers - Mukesh and Anil - became richer by about Rs 15,000 crore (more than $3.6  billion) on the back of a sharp rally in share prices.

While the shares of Reliance Industries, the flagship company of Mukesh Ambani Group, hit a new record for the third  consecutive day, Anil Dhirubhai Ambani Group's Reliance Capital did an encore with its own all-time peak.

Besides, significant gains of up to eight per cent were  recorded in the shares of other companies from the two packs.

The combined market value of the seven companies from the  two groups rose to over Rs 4,33,000 crore (over $106 billion), from about Rs 4,18,400 crore (Rs 4184 billion) on Friday.

The three companies from the Mukesh camp - RIL, Reliance  Petroleum and Reliance Industrial Infrastructure Ltd  - witnessed a jump of over Rs 9,950 crore (Rs 99.50 billion) in their combined market cap to about Rs 2,89,000 crore ($71 billion) at the end of today's trading session.

In comparison, the four ADAG firms - Reliance  Communications, Reliance Energy and Reliance Natural  Resources Ltd - saw their market value rising by about  Rs 4,800 crore (Rs 48 billion ) to close at Rs 1,44,200 crore (over $35 billion).

The biggest gain in value terms, of about Rs 8,700 crore (Rs 87 billion), was recorded by RIL, whose share price rose by 3.7 per cent or  Rs 62.15 to close at Rs 1,761.55 at the BSE. Earlier in the  day, the stock hit an all-time high of Rs 1,780 a share.

ADAG entity Reliance Communications saw its market value soaring by about Rs 2,140 crore, with a rise of 2.1 per cent  in its share price to Rs 506.30. 

Reliance Capital recorded the third biggest gain of about Rs 1,570 crore (Rs 15.70 billion), with a gain of 7.1 per cent in its share price to Rs 969.55.

RCL, which on Monday booked a capital gain of about Rs 350 crore (Rs 3.5 billion) by sale of its 5.79 per cent stake in group company REL, also hit a life-time high of Rs 1,002 earlier in the day. REL's shares settled 7.9 per cent higher at Rs 551.70.

Mukesh Ambani Group's RPL recorded a gain of about Rs 1,300 crore (Rs 13 billion) in its market value following a 3.1 per cent jump in its share price to Rs 95.05. It also hit an all-time high of Rs 96.10 during the day.

RIL's share price settled nearly one per cent higher at Rs 474.10 and RNRL closed 3.1 per cent up at Rs 31.40.

The two brothers - Mukesh and Anil, who hold majority stakes in their respective group companies, were ranked as the second and third richest Indians by US-based business magazine Forbes in its annual ranking of wealthiest businessmen in the world earlier this year.


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