Reliance Communications slumps 9% after posting quarterly loss; falls to 52 week low

Reliance Communications on Saturday reported a consolidated net loss of Rs 948 crore for the quarter ended March 31, 2017. The company had posted a net profit of Rs 79 crore in the same quarter of the previous year.

The company incurred losses due to free offers, disruptive pricing and hyper competition prevailing in the telecom sector, as per BSE filing.

Meanwhile, Reliance Communications is down by 9.3% at Rs 23.40 per share at 09:43 hours IST on BSE. The stock traded on a new 52-week low value of Rs 23.30 per share.

Reliance Communications Limited is a telecommunications service provider. The company’s operations include wireless telecommunications services, broadband access to enterprise customers, managed internet data centre services, and direct-to-home (DTH) business.

Stock View :-

Reliance Communications Ltd is currently trading at Rs 23.35, down by Rs 2.45 or 9.5% from its previous closing of Rs 25.8 on the BSE.

The scrip opened at Rs 25.65 and has touched a high and low of Rs 25.65 and Rs 23.3 respectively. So far 13190124(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 6421.57 crore.

The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs 55.4 on 31-Aug-2016 and a 52 week low of Rs 25.15 on 25-May-2017. Last one week high and low of the scrip stood at Rs 30.8 and Rs 25.15 respectively.

The promoters holding in the company stood at 58.85 % while Institutions and Non-Institutions held 24.83 % and 15.07 % respectively.
The stock is currently trading below its 200 DMA.

Reliance Communications Ltd :-
BSE 22.15 [3.65] ([14.15]%)
NSE 22.10 [3.65] ([14.17]%)


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