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ADAG stocks fall: RCom, Reliance Nippon Life at fresh lows

RCom, Reliance Home Finance and Reliance Nippon Life Asset Management hit their respective new lows, while Reliance Naval hit 52-week low on the BSE in intra-day trade

SI Reporter  |  Mumbai 

The lenders to Reliance Communications are meeting next week to discuss its future, after its two lifeline deals - a merger with Aircel and the sale of towers - collapsed
The lenders to Reliance Communications are meeting next week to discuss its future, after its two lifeline deals — a merger with Aircel and the sale of towers — collapsed

Three stocks from the Anil Ambani controlled Reliance Group companies – (RCom), and Reliance Nippon Life Asset Management  – have hit their respective new lows and Reliance Naval and Engineering hit 52-week low on the BSE in intra-day trade.

touched a new low of Rs 11.35, down 6%, extending its Monday’s 14% decline, after the company posted a consolidated loss of Rs 2,709 crore in the second quarter ended September. This is the fourth straight quarter of loss for the company. It had reported a loss of Rs 1,234 crore in the first quarter ended June.

For the first half (April to September) of the current financial year 2017-18 (FY18), has reported a consolidated net loss of Rs 3,919 crore against a net profit of Rs 152 crore in the same period of FY17. Revenue from operations declined 41% to Rs 6,109 crore from Rs 10,359 crore. The company in a results note said that it has missed interest payments on two outstanding domestic non-convertible debentures.

(down 4.5% at Rs 273) and (down 2.6% at Rs 72) were trading at their lowest since listing on November 6, 2017 and September 22, respectively.

had raised Rs 1,540 crore through initial public offer (IPO) by issuing shares at price of Rs 252 per share.

COMPANY LATEST 52 WK LOW PREV LOW PREV DATE
REL. COMM. 11.65 11.35 12.10 13-Nov-17
RELIANCE HOME 72.05 72.00 72.95 13-Nov-17
RELIANCE NAV.ENG 47.80 45.45 47.80 13-Nov-17
RELIANCE NIP.LIF 274.20 273.20 278.00 06-Nov-17

First Published: Tue, November 14 2017. 12:25 IST
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