New Delhi, Nov 15 (PTI) Shares of Reliance group of
companies, led by Reliance Communications, today came under
massive selling and tumbled up to 12 per cent.
The scrip of Reliance Communications slumped 12.12 per
cent, Reliance Capital tanked 10.21 per cent and Reliance
Infrastructure plummeted 9.16 per cent on BSE.
Among others, Reliance Power dived 8.55 per cent,
Reliance Naval and Engineering tumbled 8.18 per cent, Reliance
Home Finance (7.09 per cent) and Reliance Nippon Life Asset
Management (6.87 per cent).
In intra-day trade, shares of RCom crashed 16.88 per cent
to hit its 52-week low of Rs 9.60, Reliance Capital plunged
14.99 per cent to Rs 400.20.
Reliance Infra slumped 14.99 per cent to Rs 390.60 in
intra-day session, Reliance Power dropped 10.23 per cent to Rs
34.65 (52-week low), Reliance Naval tanked 11 per cent to Rs
42.40 (52-week low), Reliance Home fell sharply by 12.14 per
cent to Rs 62.55 (52-week low) and Reliance Nippon Life
skidded 9.14 per cent to Rs 248.
Debt-laden telecom operator Reliance Communications on
Saturday reported a consolidated loss of Rs 2,709 crore in the
second quarter to September 2017.
The company had registered a profit of Rs 62 crore in
the same period a year ago.
This is the fourth straight quarter of loss for the
RCom, which is on the verge of shutting its voice call
service, witnessed a decline in revenue from its both India
and global operations.
This is published unedited from the PTI feed.