Anil Ambani with his mother Kokilaben in Chorwad, Gujarat, on Tuesday. (PTI)

Mumbai, Dec. 27: The coming together of the Ambani brothers, Mukesh and Anil, for a family event in Gujarat has created a buzz about a possible patch-up leading to business or commercial relations between the brothers.

Shares of most Anil Ambani group companies rallied on the bourses today after Kokilaben Ambani, mother of Mukesh and Anil, reportedly said the two brothers did not have any differences between them. The gains on these counters came on a day the benchmark index ended lower by nearly 97 points.

“There are no differences or ill-feelings between Mukesh and Anil. Both the brothers will come to Chorwad with their families,” Kokilaben was quoted by a newspaper as saying.

The Ambani brothers reached their home town Chorwad in Junagadh district for the inauguration of a memorial of their father Dhirubhai on his 80th birth anniversary tomorrow. While Anil Ambani arrived with his family in the morning, his elder brother Mukesh arrived in the afternoon with his family.

On the Bombay Stock Exchange, barring Reliance Power, which ended in the red, all Anil Ambani group scrips finished in positive territory. Reliance Communications was the largest gainer, rising nearly 5 per cent to Rs 72.90.

Reliance Capital increased nearly a per cent to Rs 252.25, Reliance Infrastructure was up Rs 2 (0.54 per cent) at Rs 369.20, Reliance Broadcast Network increased 2.60 per cent to Rs 51.35 and Reliance Mediaworks jumped 3.23 per cent to Rs 75.05.

The Reliance empire was split in 2005 with Mukesh taking control of flagship Reliance Industries, with interests in petrochemicals, oil and gas exploration, refining and textiles; Anil took control of telecom, power, entertainment and financial services.

Both the groups also entered into a non-compete agreement in 2006 that barred them from entering each other’s turfs. However, the first major signs of a patch-up came in 2010 when the groups scrapped the non-compete clause in all businesses except gas-fired power plants.

Since then, Mukesh Ambani has entered the telecom arena with the acquisition of Infotel Broadband as well as financial services.

After Mukesh’s entry into telecom, there have been speculation that it can lead to business relations with Anil. A few months back, there was talk that Mukesh could use the tower infrastructure of R-Com.

While it will be for the first time in the recent past that the Ambani brothers will be seen together, for the inauguration of the Dhirubhai Ambani memorial, sources said that one should not expect any business or commercial announcements between the two groups. “It is entirely a family event,’’ the sources added.

The Dhirubhai Ambani Memorial is at the same place where the industrialist spent his childhood. Dhirubhai had purchased the bungalow in 2002.