Reliance Communications hits 52-week low
The stock hit a 52-week low of Rs 56.75 on the National Stock Exchange in intra-day trade.
 "Reliance Communications hits 52-week low")
Shares of Reliance Communications have dipped 6% to Rs 56.75, also its 52-week low on the National Stock Exchange (NSE), after the company won 800 MHz spectrum in 11 service areas but could not defend its 900 MHz spectrum holding in five out of seven circles expiring in 2015-16.
Telecom operator Reliance Communications said it has gained capability to provide 4G services across the country on the back of spectrum won by it in the recently concluded spectrum auction.
"Reliance Communication becomes India's first and only operator with nationwide footprint of contiguous 800/850 MHz spectrum. Reliance Communication operations now future-proofed across all circles for most advanced LTE technology at most optimal cost," the company said in a statement.
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The stock opened at Rs 60.90 and touched high of Rs 61.60 on the NSE in early morning trade. A combined 7.55 million shares changed hands on the counter so far on the NSE and BSE.
At 1502 hours, shares of Reliance Communications were down 3% at Rs 58.30 on the NSE.
Telecom operator Reliance Communications said it has gained capability to provide 4G services across the country on the back of spectrum won by it in the recently concluded spectrum auction.
"Reliance Communication becomes India's first and only operator with nationwide footprint of contiguous 800/850 MHz spectrum. Reliance Communication operations now future-proofed across all circles for most advanced LTE technology at most optimal cost," the company said in a statement.
CLICK HERE TO READ FULL REPORT
The stock opened at Rs 60.90 and touched high of Rs 61.60 on the NSE in early morning trade. A combined 7.55 million shares changed hands on the counter so far on the NSE and BSE.
At 1502 hours, shares of Reliance Communications were down 3% at Rs 58.30 on the NSE.