Reliance Naval and Engineering leads losers in BSE's 'A' group

Reliance Communications, Aditya Birla Fashion and Retail, RattanIndia Power and Future Retail are among the other losers in the BSE's 'A' group today, 28 November 2017.

Reliance Naval and Engineering tumbled 6.49% at Rs 41.75 at 13:43 IST. The stock topped the losers in 'A' group. On the BSE, 5.09 lakh shares were traded on the counter so far as against the average daily volumes of 5.66 lakh shares in the past two weeks.

Reliance Communications (RCom) lost 3.75% at Rs 12.85. The stock was the second biggest loser in 'A' group. On the BSE, 50.46 lakh shares were traded on the counter so far as against the average daily volumes of 93.58 lakh shares in the past two weeks.

RCom issued a clarification to the stock exchanges after market hours yesterday, 27 November 2017, with regard to media news titled "China development bank files insolvency case against Reliance communications". RCom said that the company has not been served any notice of the application filed by China Development Bank with NCLT, as reported in the media.

RCom is engaged through the joint lenders forum (JLF) with all its lenders for a successful resolution of the strategic debt restructuring (SDR) process. The China Development Bank has also been actively participating in the JLF. RCom said it is therefore, surprised by the untimely and premature action of the China Development Bank of filing an application at NCLT. RCom added that it continues to remain engaged with all lenders including the China Development Bank and is confident and committed to a full resolution with the support of all the lenders.

Separately, RCom said it has entered into a binding share purchase agreement with Pantel Technologies and Veecon Media & Television for sale of its subsidiary Reliance BIG TV (RBTV), engaged in the business of direct-to-home (DTH) services across India.

Aditya Birla Fashion and Retail skid 3.33% at Rs 167. The stock was the third biggest loser in 'A' group. On the BSE, 87,000 shares were traded on the counter so far as against the average daily volumes of 2.92 lakh shares in the past two weeks.

RattanIndia Power was down 3.27% at Rs 8.29. The stock was the fourth biggest loser in 'A' group. On the BSE, 13.02 lakh shares were traded on the counter so far as against the average daily volumes of 51.09 lakh shares in the past two weeks.

Future Retail lost 2.98% at Rs 571.55. The stock was the fifth biggest loser in 'A' group. On the BSE, 2.07 lakh shares were traded on the counter so far as against the average daily volumes of 2.20 lakh shares in the past two weeks.

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