Anil Ambani's Reliance Power shares hit 52-week low after suffering massive loss in Q4

Shares of Anil Ambani-led Reliance ADAG Group companies were under heavy selling pressure on Monday, in otherwise strong market, with Reliance Power hitting 52-week low in intra-day trade after the power generation company reported a net loss of Rs 3,575.38 crore in the March quarter.

While the Indian benchmarks, Sensex and Nifty, witnessed positive trade on Monday, Reliance Power shares declined as much as 23.66 per cent and hit a new low of Rs 4.71 on the Bombay Stock Exchange. Paring some of early losses, the stock closed trade at Rs 5.75 apiece, down 6.81 per cent.

On the National Stock Exchange, the Reliance Power share price settled 8.13 per cent lower at Rs 5.65 apiece. During the day's trade, the stock touched a fresh 52-week low of Rs 4.85 after making a negative opening at Rs 5.55.

Reliance Power (RPower) on Saturday reported a net loss of Rs 2,951.82 crore for the financial year 2018-19 as against net profit of Rs 840.46 crore in FY18. Total income during the fiscal declined to Rs 8,534.26 crore from Rs 9,871.01 crore a year earlier.

Also Read: Anil Ambani's Reliance Power suffers Rs 2,951 crore loss in FY19

Reliance Infrastructure (RInfra) continued their losing streak on Monday and plunged to a fresh 52-week low of Rs 61.30, down 17 per cent in intra-day on BSE. The shares slumped 34 per cent in the last four trading sessions. The RInfra has deferred publication of March quarter results from June 8 to June 14.

Among the other ADAG companies, Reliance Naval and Engineering closed 10.10 per cent lower at Rs 6.50, while Reliance Home Finance (down 13.19 per cent at Rs 16.45), Reliance Capital (down 8.85 per cent at Rs 91.20) and Reliance Communications (down 4.92 per cent at Rs 1.74) on the BSE.

Meanwhile, the BSE Sensex closed at 39,784.52, up by 168.62 points or by 0.43 per cent, and the NSE Nifty ended at 11,922.7, up by 52.05 points or by 0.44 per cent.

Edited by Chitranjan Kumar

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