Mega-plans lift Anil Ambani cos’ stock

During the day,it had jumped 2.52 per cent to hit an intra-day high of Rs 164.60 on BSE.

Reliance Power has chalked out a plan to invest about Rs 80,000 crore in the next three years to create 20,000 MW of thermal power generation capacity.

In order to boost its clean energy portfolio,the company would invest about Rs 30,000 crore to set-up hydro power projects in Arunachal Pradesh.

“The market has liked the Group’s future prospective plans presented at the annual general meetings of RCom,R-Power and Reliance Capital. Investors rejoiced the ambitious plans being given by the Group,” CNI Research Chairman and Managing Director Kishore P Ostwal said.

On the other hand,Anil Ambani-led telecom major RCom today said it may sell 26 per cent stake in the company,and also list its telecom tower subsidiary Reliance Infratel,to become debt free,following which shares of the company rose as much as 2.97 per cent to touch an intra-day high of Rs 174.65.

However,the scrip finally settled 0.41 per cent higher at Rs 170.30 on BSE.

Some buying was also seen in the counter of Reliance Capital which too conducted its AGM today. The scrip finished higher by 0.28 per cent at Rs 814. During the trade,it gained 1.49 per cent to touch an intra-day high of Rs 823.90.

The company wants to tap the banking arena and elaborating on that Ambani said,”We have always regarded banking as a high-priority sector with huge potential opportunity,and are evaluating the different options contained in the (RBI’s proposed) guidelines.”

Among other Anil Ambani-controlled companies,Reliance Infrastructure closed up 2.52 per cent,Reliance Natural Resources 0.76 per cent. However,Reliance Broadcast Network fell by 1.74 per cent.

After volatile trade,the BSE-30 share barometer Sensex ended 12.52 points lower at 20,104.86.