ET: L&T Finanace offloads ADAG shares

8 February 2019: L&T Finance sold shares of Anil Dhirubhai Ambani Group companies on Thursday.

According to the bulk deal data on the NSE, L&T Finance sold 2 crore shares of Reliance Communications at Rs 5.14 per share and sold 77.87 lakh shares of Reliance Capital at Rs 123.89 apiece. 

L&T Finance sold 49 lakh shares of Reliance Infrastructure at Rs 120.98 per share and 6.25 crore shares of Reliance Power at Rs 10.8 per share. 
Shares of ADAG Group companies have been under heavy selling pressure in the last few days after Reliance Communications said it will move the insolvency tribunal for bankruptcy protection.

On Thursday, shares of RCom ended down 5.3 per cent at Rs 5.19 on the BSE. Reliance Power’s shares plunged 22 per cent to Rs 9.95. Shares of Reliance Capital ended down 19 per cent at Rs 116.20 and Reliance Infra ended down 28 per cent at Rs 110.80.

The Economic Times reported

Categories: General News, India Bankruptcy

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