ADAG identifies rogue brokers, but stocks slue

Written by: Biswajeet Panda
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Anil Ambani
Mumbai, Feb 11: It's tough time for the Anil Ambani led ADAG, as their stocks continued to fall under tremendous selling pressure on Feb 11. Stock prices of Rcom, the telecom arm of ADAG, fell to an all time low of Rs 89.70.

The downward trend continued even after the group said that it had identified stockbrokers who spread rumours against it. In a statement the company has said, “We have identified stock brokers sending mass e-mails / SMS / voice calls with baseless sensational charges against ADA Group."

The company had on Feb 10, blamed 'corporate rivals' and a cartel of market manipulators for spreading fear among investors.

The group has not named the brokers in its statement but said the names and other details about their suspicious activities have been submitted to SEBI.

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