RCom shares trim most of sharp early losses; end flat

Shares of Reliance Communications trimmed most of its sharp early losses and ended flat today on value buying at lower level.
The stock, which tumbled 9.47 per cent to Rs 18.15 -- its 52-week low -- in intra-day trade on BSE, later saw some recovery and ended at Rs 20, down 0.25 per cent.
During the fag-end of trading, shares of the company managed to gain nearly 3 per cent but later surrendered gains to end on a flat note.
At NSE, shares of the company went down by 0.5 per cent to close at Rs 19.90.
On the volume front, 231.12 lakh shares were traded on BSE and over 23 crore shares changed hands at NSE during the day.

Reliance Communications had witnessed heavy selling on Monday, plunging over 20 per cent. The stock was down over 2 per cent yesterday also.

Moody's Investors Service has downgraded Reliance Communications' corporate family rating and senior secured bond rating on account of weak performance and "fragile" liquidity position.
Allaying concerns, the Anil Ambani-led Reliance Group company yesterday said that it has told lenders that it would repay Rs 25,000 crore before September 30 this year post completion of three different deals.
The telco has already been downgraded by two other agencies Care and Icra.
RCom had reported a loss of Rs 948 crore in March quarter, compared to a net profit of Rs 79 crore in year-ago period, hurt by the intense price war unleashed by newcomer RJio.