Reliance Infra, Reliance Power: Trading strategies for ADAG stocks

Shares of Reliance Infrastructure — the Anil Dhirubhai Ambani Group (ADAG) company — touched 5 per cent upper circuit at Rs 73.3 apiece after its Board of Directors on Sunday approved raising of up to Rs 550.56 crore from its promoter, the Anil Ambani group and from Varde Investment. The company said it will make a preferential allotment of up to 88.8 million equity shares and/or warrants convertible into equivalent number of shares, to promoter group and VFSI Holdings Pte.

Limited, an affiliate of Värde Investment Partners, LP. The funds raised, it added, would be utilised for…

News Source : BUSINESS STANDARD

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