Most ADAG firms touched 52 weeks low in markets today. Reliance Communications, Reliance Infrastructure, Reliance Power and Reliance Capital may continue to fall further and investors should avoid these stocks till the role of Anil Ambani or ADAG is cleared from the 2G spectrum inquiry. Three top officials of Reliance ADA Group – Gautam Doshi (Managing Director, Reliance ADA Group), Surendra Pipara (Senior Vice President of ADAG and Reliance Telecom) and Hari Nair (Senior Vice President ADAG) - have been accused of conspiracy and abetment to cheating in the 2G scam. The trio is lodged in New Delhi's Tihar Jail. Once the matter is resolved and ADAG group comes out clear from the scam, all ADAG shares will rebound sharply.
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