Anil Ambani group stock, and one of India's largest cellular service operators, Reliance Communications tumbled 14.32% or Rs 15.85 to end at Rs 94.85 on the BSE. It touched a 52-week low of Rs 90.80. It touched an intraday high of Rs 109.75 and an intraday low of Rs 90.80. There were pending sell orders of 642 shares, with no buyers available. The total traded volumes were of 6,009,335 shares on the BSE. Its market capitalisation stands at Rs 19,577.29 crore. However, today all the ADAG group stocks hit 52-week lows and were down between 10% and 24% today.
The group's stocks on Wednesday plunged after group chairman Anil Ambani reportedly met telecom minister Kapil Sibal in the backdrop of the ongoing 2G spectrum scam investigation. The government had ordered an investigation to examine Reliance Communications' books last year. Jaipur-based audit firm Parakh & Co, which was examining the company's books had in October last year alleged a campaign of harassment by RCom. The auditor had charged that it had become a victim of stigmatisation. In its latest complaint, the audit firm had urged the department of telecommunications to urgently intervene and restrain RCom from employing coercive tactics. The audit firm's examination carried out at the behest of the DoT had suggested that Reliance Communication had failed to show revenue of about Rs 2,800 crore which had caused losses of Rs 315 crore to the government in licence and spectrum fees. Reacting to the battering that his group's stocks have received at the bourses over the last few months, Anil Ambani today said that it was a result of baseless rumours planted by rivals, adding that he had complained to the securities market regulator SEBI on the issue. Another development during the day that has huge financial implications for existing as well as new operators added to RCom's woes. Telecom regulator TRAI has recommended fixing new prices 2G spectrum. Although the outgo for Reliance is likely to be minimal because of it owning excess spectrum only in Bihar service area. The telecom regulator has recommended a new price for 2G spectrum, which will cost seven companies in excess of Rs 16,000 crore. Also Read: TRAI recommends new pricing for 2G spectrum Peer comparison:| Company | Last Price (Rs) | Market Cap (Rs in Cr) | Sales Turnover (Rs in Cr) | PAT (Rs in Cr) |
| Bharti Airtel | 332.15 | 126134.96 | 35609.54 | 9426.16 |
| Idea Cellular | 66.25 | 21877.2 | 11895.77 | 1053.66 |
| Reliance Comm | 94.65 | 19536.01 | 12290.61 | 478.93 |
| Tata Comm | 216.55 | 6171.68 | 3218.04 | 483.18 |
| TataTeleservice | 14.4 | 2731.96 | 2249.1 | -298.01 |
| MTNL | 40.8 | 2570.4 | 3770.41 | -2514.87 |
| Tulip Telecom | 158.15 | 2293.18 | 1608.28 | 249.58 |
| Nu Tek India | 11.5 | 177.7 | 185.98 | 15.87 |
| Goldstone Infra | 17.7 | 63.86 | 65.61 | 6.73 |
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
