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Reliance Communications dips for the sixth day; hits new low of Rs 4.82

The stock hit a new low of Rs 4.82, dipped 27% in past six trading days, as compared to 4% rise in the benchmark index S&P BSE Sensex.

RCom, Reliance Communications
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The Anil Ambani-owned company said it would get ~9.75 bn from sale of spectrum, of which it was to give ~5.5 bn to Ericsson

SI Reporter Mumbai
Shares of Anil Ambani-owned Reliance Communications (RCom) were trading lower for the sixth straight day, hitting a new low of Rs 4.82, down 6 per cent on the BSE in intra-day trade in otherwise strong market. The fall comes after the lenders claimed to have the first right over income tax (I-T) refunds.

In the past six trading days, RCom has dipped 27 per cent from level of Rs 6.64 on the BSE, as compared to 4 per cent rise in the benchmark index, the S&P BSE Sensex. Thus far in the calendar year 2019, it has tanked 67