Monday, November 29, 1999

Rel Infra top BSE gainer as ADAG cos claw back

News posted by www.newsinfoline.com

More than two-thirds of Indian stocks rose on Monday, but that did not include Reliance Natural Resources. The company —which lost a bruising court battle last week to Reliance Industries—lost another 5%, and analysts said more could follow.While markets discounted the impact of the loss on other companies in the Anil Dhirubhai Ambani Group, they have postponed declaration of their annual results. This includes Reliance Infra, which was the best performer among the Sensex stocks. It rose 8.49%, with RIL coming in far behind at 4.48%. Reliance Power and Reliance Communications—from the ADAG stable—rose too.

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