Anil Ambani group stocks jump; Reliance Communication climbs over 5%
Stocks of Anil Ambani group companies rose for the second consecutive session today, with Reliance Communications climbing over five per cent even as the overall market remained sluggish.
The broader Sensex slumped over 114 points in afternoon trade to 19,621.42 points after investors were disappointed by RBI's latest monetary policy.
Meanwhile, most of the shares of Anil Ambani group firms gained in afternoon trade, with Reliance Communications surging 5.14 per cent to Rs. 110.45 on the Bombay Stock Exchange.
Other group entities including Reliance Infra and Reliance Capital in the range of 1-3 per cent. While Reliance Infra rose more than one per cent to Rs. 394, Reliance Capital went up 2.3 per cent to Rs. 372.55
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Sensex, Nifty fall ahead of RBI decision
The RBI, in a report released post trading hours on Thursday, citing still-high headline and consumer inflation, said macro-financial risks remained significant.
Rate sensitives like mortgage lender Housing Development Finance Corp fell 0.75 per cent, while State Bank of India was down 1 per cent, in caution ahead of RBI policy.
Bharti Airtel shares, however, rose as much as 4.7 per cent in early trade after the company agreed to sell a 5 per cent stake to Qatar Foundation Endowment for $1.26 billion.
Cement stocks such as ACC and Ambuja Cements also gained 1.1 per cent and 1.08 per cent, respectively, ahead of results later in the day.
Rate sensitives like mortgage lender Housing Development Finance Corp fell 0.75 per cent, while State Bank of India was down 1 per cent, in caution ahead of RBI policy.
Bharti Airtel shares, however, rose as much as 4.7 per cent in early trade after the company agreed to sell a 5 per cent stake to Qatar Foundation Endowment for $1.26 billion.
Cement stocks such as ACC and Ambuja Cements also gained 1.1 per cent and 1.08 per cent, respectively, ahead of results later in the day.
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