Reliance group stocks bounced back on Monday from last week’s losses following absence of new development in the ongoing tussle between the Ambani brothers over ownership issues as well as anticipation of an early solution to the rift.
All the listed Reliance group stocks, except Indian Petrochemicals Corporation Ltd (IPCL), opened weak and were highly volatile on anticipation of new developments.
Among the five listed group companies, Reliance Industries ended 1.24% higher at Rs 509.80 on The Stock Exchange, Mumbai (BSE) while Reliance Energy rose 1.13% to Rs 555.3. Indian Petrochemical Corporation Ltd (IPCL) surged 2% to Rs 178.9, Reliance Capital climbed 0.73% to Rs 137.25 and Reliance Industrial Infrast-ructure jumped 1.91% to Rs 74.55. The Reliance group gained 1.3%, or Rs 1,089.6 crore, in market capitalisation to Rs 87,797.8 crore, from Rs 86,708.1 crore.