RCom pares morning gains, falls 4% post a 25% rise

At 1:30 pm; RCom was trading 4% lower at Rs 15.85. It hit a high and low of Rs 20.65 and Rs 14.10 during the day

Reliance Communications (RCom) pared morning gains to fall over 4% after BSE sought clarification from the company on a news article titled "NCLT rejects RCom's plea for stay on insolvency order".

 

Shares of the company had rallied 25% to Rs 20.65 per share on the BSE in early morning trade, surging 108% from its Wednesday’s intra-day low of Rs 9.95 after a media report suggested that the Anil Ambani-led telecom services company and Ericsson inform National Company Law Tribunal (NCLT) in Mumbai that they are in settlement talks.

“The Company is on the captioned subject and wish to inform