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Reliance group stocks tumble up to 12 pc on heavy selling

Press Trust of India  |  New Delhi 

of group of companies, led by Communications, today came under massive selling and tumbled up to 12 per cent.

The scrip of Communications slumped 12.12 per cent, Capital tanked 10.21 per cent and Infrastructure plummeted 9.16 per cent on


Among others, Power dived 8.55 per cent, Naval and Engineering tumbled 8.18 per cent, Home (7.09 per cent) and Nippon Life Asset Management (6.87 per cent).

In intra-day trade, of RCom crashed 16.88 per cent to hit its 52-week low of Rs 9.60, Capital plunged 14.99 per cent to Rs 400.20.

Infra slumped 14.99 per cent to Rs 390.60 in intra-day session, Power dropped 10.23 per cent to Rs 34.65 (52-week low), Naval tanked 11 per cent to Rs 42.40 (52-week low), Home fell sharply by 12.14 per cent to Rs 62.55 (52-week low) and Nippon Life skidded 9.14 per cent to Rs 248.

Debt-laden telecom operator Communications on Saturday reported a consolidated loss of Rs 2,709 crore in the second quarter to September 2017.

The company had registered a profit of Rs 62 crore in the same period a year ago.

This is the fourth straight quarter of loss for the company.

RCom, which is on the verge of shutting its voice call service, witnessed a decline in revenue from its both India and global operations.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, November 15 2017. 17:13 IST
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