ADAG stocks take a hit

Stocks of ADAG (Anil Dhirubai Ambani Group) closed lower on the Bombay and National Stock Exchanges on Thursday in the wake of reports that Anil Ambani, Chairman of ADAG group, was named as the ultimate owner of a Mauritius-based investment fund Pleuri that was set up to invest in Indian stocks. While Reliance Communications and Reliance Power hit new lows, others such as Reliance Infra, Reliance Media and Reliance Capital registered significant losses over the previous closing prices. Reliance Communica- tions ended at a new low of Rs. 69.60 and Reliance Power at Rs. 76.15 on the Bombay Stock Exchange. Reliance Infra closed at Rs. 358.40 after touching a low of Rs. 348.25 against the previous close of Rs. 362.50. Reliance Media closed at Rs. 76.20 against Rs. 80.10 on Wednesday. Reliance Capital recovered by the end of the day to Rs. 262.70 after hitting an intra-day low of Rs. 259.15 against the previous close of Rs. 271.40. At the intra-day trade on the NSE, Reliance Communication quoted at a new low of Rs. 67.55, Reliance Infra Rs. 348.15, Reliance power Rs. 73.80, Reliance Media Rs. 74.50 and Reliance Capital Rs. 259.10.