Rcom hits new low on media reports that Brookefield called off deal

The stock hit a new low of Rs 15.50, down 8% on the BSE in intra-day trade.

Reliance Communications (RCom) hit a new low of Rs 15.50, down 8% on the BSE in intra-day trade as the media report suggests that Brookefield called off the deal with the company after Aircel merger falls through.

The stock has fallen below its previous low of Rs 16.60 touched on October 30, 2017 touched on the BSE in intra-day trade.

The BSE said that the exchange has sought clarification from Reliance Communications on November 6, 2017, with reference to news appeared in economictimes.indiatimes.com dated November 4, 2017 quoting "Brookefield calls off Reliance Communications deal after Aircel merger falls through"

The reply is awaited.

Meanwhile, according to PTI report, the loss-making telecom operator Reliance Communications will shut down voice call service from December 1 and its customers can move to other networks by the end of the year, as per direction issued by the Telecom Regulatory Authority of India (Trai) on Friday. CLICK HERE TO READ FULL REPORT

At 12:18 PM; the stock was trading 5% lower at Rs 16 on the BSE, as compared to a marginal 0.02% decline in the S&P BSE Sensex. A combined 24.73 million shares changed hands on the counter on the BSE and NSE.