Reliance share price: RIL share price has seen an incredible rise of 4,000% in the last 20 years, as the stock price has risen from Rs 56 in April 2003 to Rs 2,346 on NSE as of April 20, 2023 closing.
Weighed down by the development, RCom share price declined over 3 per cent in opening trade to touch an all-time low of Rs 0.57 apiece against previous closing price of Rs 0.59
Shares of Reliance Communications rose 10 per cent in the early day trade after Anil Ambani-led company announced that it had cleared Ericsson dues.
Extending losses for the sixth straight day, shares of debt-ridden telecom company declined as much as 6 per cent in intra-day trade to hit all-time low of Rs 4.82, in otherwise strong market.
The move is aimed at reducing the debt burden of the company. The transaction will help reduce the liability of unsecured creditors, benefiting all stakeholders, including lenders and shareholders of RCom, the company said.
China Development Bank (CDB) filed an insolvency petition on 24 November against Reliance Communications to recover its loan of $1.78 billion (Rs 11,460 crore), according to media reports.
The stock went down by 3.24 per cent to settle at Rs 16.45 on the BSE. During the day, it tanked 5 per cent to Rs 16.15. On the NSE, shares of the company lost 2.94 per cent to close at Rs 16.45.
Shares of the company jumped 5.61 per cent to an early high of Rs 91.30 on the Bombay Stock Exchange, before closing the day 2.4 per cent higher at Rs 88.85.
Shares of Idea zoomed up by 10.60 per cent to touch a 52-week high of Rs 94.35 on the BSE. Similarly, Reliance Communications jumped by 6.73 per cent to touch an early high of Rs 99.85.
Shares of the company fell to an early low of Rs 85.70 on BSE, down 2.05 per cent from the previous close, while they fell 2.22 per cent on NSE to hit a low of Rs 85.60.