4% fall On The Fresh Rating Downgrades-RCOM

Shares of Reliance Communications dipped over 4 per cent on the Bombay stock Exchange after the global rating agencies, Moody's Investors Service and Fitch downgraded the company’s rating for the second time in a week, citing company’s inability it pays its debt.

Shares of the company weighted down by the developer to hit Intra day low at Rs. 19.25 apiece on the Bombay Stock Exchange.

The previous close was Rs. 20.10 and its scrip current trading at Rs.19.50.

In a similar fashion, stocks of Anil Ambani-led company was trading 3.23 per cent lower at Rs 19.50 apiece on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 31,322.09, up 131.52 points or 0.42 per cent, at 10:45 hours.

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