Comments
Shares of Reliance Communications hit over 1-week low as the company had said on Monday that it would not pay interest on its non-convertible debentures (NCDs), until its restructuring process is completed.
RCom shares plunged as much as 6 per cent to Rs 14.80, their lowest since May 28. RCom had said last month it expects to complete its Rs 18100 crore asset sale to Reliance Jio Infocomm and Canada's Brookfield in coming weeks, a move aimed at reducing its debt.
More than 23.3 million shares changed hands by 0435 GMT vs 30-day moving average volume of 170.3. The stock has lost more than half its value this year up to Monday.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.