I was just going through this thread today - what a huge fall and destruction by the ADAG group!!
I was looking at Reliance Power from a security in distress perspective:
For a company with net profit of 1000 Cr each for last 5-7 years, the same is trading at 2300 Cr M Cap today! Ofcourse the catch is that there is a very high debt outstanding of 35000 Cr or so and interest coverage ratio is less than 2.
Every few days, the shares of promoter get invoked here and get sold in open market.
Ideally, the promoter should start exiting some of these businesses or something like Reliance Home Finance. Given his poor reputation, he can’t stand to run these companies…the longer he stays…the faster is the erosion