RCom shares fell by 9% after reports of China Development Bank filing case

After the reports of China Development Bank filing case of insolvency against Reliance Communications, the shares of the telecom firm fell by over 9%.

At NSE, shares of the company dived 9.36% to Rs 12.10. The stock tanked 8.61 percent to Rs 12.20 on BSE.

Some of the early losses by the stock were recovered later and the trading was at 4.12% lower at Rs 12.80 at 1140hrs on BSE.



BSE had sought clarification from Reliance Communications Ltd after market hours yesterday with respect to news that China Development Bank files insolvency case against it.

In a clarification to BSE, Reliance Communications spokesperson yesterday said, “The company has not been served any notice of the application filed by China Development Bank with NCLT, as reported in the media."