Shares of Reliance Communications ie RCom, a telecom sector company going through Anil Ambani’s bankruptcy process, closed up 3.70% on Thursday.
Share Crash: Shares of Reliance Communications ie RCom, a telecom sector company undergoing bankruptcy process of Anil Ambani, closed up 3.70% on Thursday. The company’s shares have reached Rs 1.40. Let us tell you that this is the same company on whose assets Mukesh Ambani’s
Reliance Industries company has staked. The country’s leading telecom company Reliance Jio has announced the takeover of mobile tower and fiber assets of debt-ridden Reliance Infratel (RITL) of Anil Ambani. Recently, Ambani has also deposited ₹ 3720 crore in the escrow account of State Bank of India (SBI) for this.
The stock has fallen 99.87
Let us tell you that in the year 2007, the shares of RCom had reached Rs 786. Currently its price is Rs 1.40. Accordingly, RCom’s stock has fallen by almost 100% till now. The stock has rallied up to 26.32% this year YTD. The stock has broken down by around 54.10% in a span of one year. Has broken up to 28.21% in the last six months. However, the stock has gained up to 12% in the last five trading sessions.
Explain that Anil Dhirubhai Ambani group company Reliance Communications (RCom) is going through the bankruptcy process. After the launch of Mukesh Ambani’s Reliance Jio in the year 2016, the difficulties of this company increased due to free data and price war. Since then the company has been heavily in debt.
