RCom Shares Gain 15% After Q3 Loss Narrowed

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The telecom company led by Anil Ambani after reporting a narrower loss figure in the Q3 results announced on Monday, jumped as much as over 14% in intra-day trade today to Rs. 31.20. Earlier such large gains on intraday basis were last made on December 29, 2017, nearly a month ago.

RCom Shares Gain 15% After Q3 Loss Narrowed

Meanwhile the debt-ridden company confronted a series of bankruptcy pleas of which the plea by Bank of China was later withdrawn.

The company has sold its consumer business while at the same time has sold its wireless asset business to the new entrant Reliance Jio Infocomm.

RCom will now have an undersea cables and internet data centres unit.

The scrip of RCom in late trade at 2:57 pm was trading higher by 10.83% at Rs. 30.2 on the BSE.

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Story first published: Tuesday, January 30, 2018, 15:00 [IST]
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