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Reliance Group Stocks Further Gains; RCom Halts Rally

Reliance Naval and Engineering stock jumped 32.28 per cent, followed by Reliance Power 20.70 per cent and Reliance Home Finance 9.11 per cent on the BSE

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Shares of Anil Ambani-led Reliance group firms, except Reliance Communications, today extended their winning streak by surging as much as 32 per cent, in an otherwise subdued broader market.

Reliance Naval and Engineering stock jumped 32.28 per cent, followed by Reliance Power 20.70 per cent and Reliance Home Finance 9.11 per cent on the BSE.

Among others, Reliance Capital rose by 3.48 per cent and Reliance Infrastructure gained 3.45 per cent. But Reliance Communications shares slipped 2.26 per cent to end at Rs 35.40 apiece due to profit-booking, halting four straight-session gains.

RCom shares were on fire last week after Mukesh Ambani stepped in to bail out the debt-ridden firm by acquiring spectrum, tower, optical fibre network and other assets. The deal will bring an immediate relief to RCom, which is reeling under Rs 45,000 crore debt. The BSE benchmark Sensex fell by 244.08 points, or 0.72 per cent, to end at 33,812.75. 


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