Shares of Reliance Infrastructure and Reliance Natural Resources Ltd on Tuesday tanked in the range of 4-8 per cent on the bourses after reports surfaced that these two ADA Group firms are involved in fraudulent banking activities overseas.
The Maharashtra State Road Development Corporation (MSRDC) on Monday said that Reliance Infrastructure-Hyundai consortium would build the sealink between Worli and Haji Ali.
The NSE Nifty is trading at 2973, up 80 points. The market breadth was positive - out of 2,616 stocks traded, 1,426 advanced, 1,114 declined and the rest were unchanged on Friday.
The index, however, could not hold gains as persistent selling in banking, cement and realty stocks dragged the index into the negative zone. Heavy selling in the Reliance counter in late noon trades saw the index slide to a low of 13,405 - down 467 points from the day's high. The NSE Nifty shed 96 points to end at 4,041.
The warrants will be converted into an equal number of equity shares at Rs 928.89 a piece, aggregating Rs 3,984.93 crore (Rs 39.84 billion). As in the March quarter 2009, AAA Project Ventures held 83,498,937 shares, representing a 36.88 per cent stake in the company.
Reliance Communications, India's second-biggest mobile operator, has decided to demerge its telecom tower business -- Reliance Infratel (Rel Infra). The company's board has approved a proposal to restructure the ownership of the tower firm to help create an independent tower company.
The move will help the utility to charge more from its 2.6 million users in Mumbai. Reliance Infrastructure (Rel Infra) had asked asked the Maharashtra Electricity Regulatory Commission for a 4.19 per cent rise in its annual revenue requirement. It was instead granted an increase of 10 per cent. Mumbai and its suburbs are serviced by Tata Power, Brihanmumbai Electricity & Suburban Transport and Reliance Energy.
Bad monsoon would be bad news for the market except tech.
The sale of Essar Oil was India's biggest deleveraging exercise undertaken by any debt-heavy group
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances