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Reliance group stocks tumble up to 12 pc on heavy selling

Press Trust of India  |  New Delhi 

of group of companies, led by Communications, today came under massive selling and tumbled up to 12 per cent.

The scrip of Communications slumped 12.12 per cent, tanked 10.21 per cent and Reliance Infrastructure plummeted 9.16 per cent on

Among others, dived 8.55 per cent, Reliance Naval and Engineering tumbled 8.18 per cent, Reliance Home (7.09 per cent) and Reliance Nippon Life Asset Management (6.87 per cent).

In intra-day trade, of RCom crashed 16.88 per cent to hit its 52-week low of Rs 9.60, plunged 14.99 per cent to Rs 400.20.

Reliance Infra slumped 14.99 per cent to Rs 390.60 in intra-day session, dropped 10.23 per cent to Rs 34.65 (52-week low), Reliance Naval tanked 11 per cent to Rs 42.40 (52-week low), Reliance Home fell sharply by 12.14 per cent to Rs 62.55 (52-week low) and Reliance Nippon Life skidded 9.14 per cent to Rs 248.

Debt-laden telecom operator on Saturday reported a consolidated loss of Rs 2,709 crore in the second quarter to September 2017.

The company had registered a profit of Rs 62 crore in the same period a year ago.

This is the fourth straight quarter of loss for the company.

RCom, which is on the verge of shutting its voice call service, witnessed a decline in revenue from its both India and global operations.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, November 15 2017. 17:13 IST