Shares of telecom operator Reliance Communication (RCom) hit a new low after Canadian research firm Veritas cut its price target to Rs 15.
The scrip is currently trading at Rs. 61.60, down by 3.55 points or 5.45% from its previous closing of Rs. 65.15 on the BSE.
The stock opened at Rs. 61.00 and has touched a high and low of Rs. 63.70 and Rs. 60.00 respectively. So far 4126016 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 109.70 on 22-Feb-2012 and a 52 week low of Rs. 61.00 on 20-Dec-2011.
Last one week high and low of the scrip stood at Rs. 69.90 and Rs. 64.55 respectively. The current market cap of the company is Rs. 12642.16 crore.
The promoters holding in the company stood at 67.86% while Institutions and Non-Institutions held 16.72% and 15.04% respectively.
Veritas has downgraded Reliance Communications, India's second-biggest mobile phone carrier by subscribers, to sell and has put a target price of Rs 15. The firm has suggested 77% downslide from the current levels.
| Company Name | CMP |
|---|---|
| Bharti Airtel | 1846.55 |
| Vodafone Idea | 9.62 |
| Indus Towers | 412.35 |
| Tata Communications | 1521.05 |
| Bharti Hexacom Ltd. | 1538.30 |
| View more.. | |
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