His ventures in power, defense and infrastructure too have battled piling debt, bankruptcy cases and regulatory snags. Reliance Capital is one of the four Anil Ambani group companies conglomerate that are among the worst performers on the S&P BSE500 index this year.Reliance Capital, however, has seen its revenue and profits rise over the past few years. Net income nearly doubled to 13.1 billion rupees in the 12 months through March 2018 from five years ago, while net revenue tripled to 158.7 billion rupees.Also despite the recent downgrades, it’s still several notches above the junk category. “Though these assets are good, they may not manage to get the kind of valuations that they have been looking for,” said Bathini. “The bidders know the company is in dire straits.”

Source: Economic Times May 03, 2019 05:37 UTC