RCom Hits Record Low on Weak Q4

Posted By: Religare
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    Shares of Reliance Communications nosedived nearly 19 per cent, hitting all-time low, on the Bombay stock Exchange after the company reported a net loss of Rs948 crore for the fourth quarter, dented by intense price war unleashed by newcomer Jio.

    RCom Hits Record Low on Weak Q4
    Reliance Communications: Quotes, News
    BSE 12.34BSE Quote0.66 (-5.35%)
    NSE 12.35NSE Quote0.65 (-5.26%)

    Weighed down by weak Q4, shares of the company declined as much as 18.99 per cent to hit 52-week low of Rs 20.90 apiece on the Bombay Stock Exchange. The scrip was currently trading at Rs 20.90 against previous close price of Rs 25.80.

    In a similar fashion, stocks of firm were trading 18.25 per cent lower at Rs 21.05 apiece on the National Stock Exchange.

    Meanwhile, the broader benchmark BSE Sensex was trading at 31,060.97, up 32.76 points or 0.11 per cent, at 11:35 hours.

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