RCom shares off all-time low

NEW DELHI: Shares of Reliance Communications ended slightly higher on Wednesday after its recent decision to call off the merger with Aircel.

The stock advanced 0.29 per cent to Rs 17.15 on BSE after falling nearly 11 per cent to Rs 17.10 a piece, its lowest level since listing in March 2006, the previous day.

It opened at Rs 17.20 and touched an intraday high and low of Rs 17.60 and Rs 16.75 respectively.

The telco called off its merger with Aircel - which would have helped pare Rs 14,000 crore of debt -- on Sunday, citing regulatory uncertainties and hinting at sabotage by "vested interests," ET reported.

Promoters held 59 per cent stake in the company as of June 2017.

For the quarter ended June 30, 2017, rhe company reported total revenue at 1,643 crore and net loss stood at 963 crore.

The scrip touched its fresh 52-week high of Rs 48.45 on October 10, 2016 and its 52-week low of Rs 16.75 yesterday, October 3, 2017.