RCom Shares Zoom 45% In Late Trade

By Roshni Agarwal
Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    Anil Ambani led communications company, RCom in late afternoon trade today zoomed by 45% amid heavy trading volumes. On a combined basis, as over 20 crore shares exchanged hands on the NSE and BSE with 18 crore scrips traded alone on the NSE.

    RCom Shares Zoom 45% In Late Trade

    The stock on BSE spurted by 44.94% to reach a day's high of Rs 18.51 while on the NSE it surged by 44.7% to Rs 18.45. The massive surge in RCom stock price pushed the market cap of the company to Rs 4,480.06 crore at the day's high price from Rs 3,160.6 crore based on previous close of Rs. 12.77.

    As per the PTI report, Mumbai bench of NCLT is directed to hear the insolvency petitions against RCom and Reliance Telecom filed by China Development Bank. And after the company has defaulted on US dollar bond payments, bondholders are reported to hire advisors.

    After the disruption by Reliance Jio in the telecom sector, RCom is suffering huge losses and a heavy debt of Rs 45,000 crore. For the quarter ended September, the communications company posted a consolidated net loss of Rs. 2709 crore.

    Goodreturns.in

    Story first published: Wednesday, December 20, 2017, 16:40 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more