Shares of Reliance Communications fell sharply by over 9% in early trade today amid reports that China Development Bank has filed insolvency case against the telecom firm, which the company has denied.
The stock tanked 8.61 per cent to Rs 12.20 on BSE.
At NSE, shares of the company dived 9.36 per cent to Rs 12.10.
However, later the stock recovered some of its early losses and was trading 4.12% lower at Rs 12.80 at 1140 hrs 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 …
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