With SP winning against the ruling BSP in UP, markets expressed a direct impact on the Anil Ambani shares. One man who seems to be lucky with no efforts of his….

Ambani’s Reliance group shares seem to have surging effect since the beginning of the week with Anil the Uttar Pradesh state being won over by the Samajwadi Party (SP). Anil Ambani is a former Samajwadi Party Rajya Sabha MP. And his earlier proximity seems to have had a direct impact at the sensex. This has been a regular trend at the time of elections markets move along the companies associated to the victorious parties and move away from the companies who are associated with the losers.

The surge noted at the beginning of the day before counting is listed as Reliance Infra has gained 6.6 percent at Rs 662.35, Reliance Power is up 4 percent at Rs 134.20, Reliance Capital has gained 2.1 percent and trades at Rs 436.20 while Reliance Communications trades 1.70 percent higher at Rs 96.75. Strength in the stocks can be judged from the fact that the markets are trading 200 points lower (Sensex). The group had been the official choice under SP rule for setting up power plants in the state. The heir apparent of SP, Akhilesh Yadav, has said that one of his focus areas will be power sector reforms. Reliance shares are in a balanced situation when compared to the ones with close proximity to BSP Supremo Mayawati, Like the Jaiprakash group.  (With inputs from internet: AarKay)