Shares of Anil Ambani-led Reliance group of companies, including Reliance Communications and newly listed mutual fund arm recovered on Thursday after seeing a sharp plunge on Wednesday. Shares of the companies were up in the range of 1 to 16 per cent on BSE due to heavy buying. On Wednesday, these stocks plunged by up to 12 per cent on the exchange. The scrip of Reliance Nippon Life Asset Management Company rose 7.02 per cent to close at Rs 72.05 on the BSE on Thursday after the firm clarified that it has zero exposure to Reliance Communications in debt or equity.
Reliance Communications shares on Thursday surged by 16.26 per cent to settle at Rs 11.80 apiece on the BSE.
Among others, Reliance Home Finance climbed 8.54 per cent to close at Rs 71.80, Reliance Infrastructure grew as much as 6.71 per cent to end the day’s trade at Rs 445.40 and Reliance Power closed 4.11 per cent higher at Rs 36.75.
Besides, Reliance Capital was up 1.38 per cent to Rs 428.60.
On the other hand, Reliance Naval and Engineering fell 3.89 per cent to settle at Rs 42.05.
The gain in the shares was in line with the BSE’s benchmark Sensex surging 1.06 per cent to settle at 33,106.82.