Stocks

RCom shares hit over 1-week low

Reuters June 5 | Updated on June 05, 2018

RCom shares plunged as much as 6 per cent to Rs 14.80, their lowest since May 28.

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.

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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.

Published on June 05, 2018

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