CBI charge-sheet on 2G: RCom, Unitech and DB Realty hit on BSE
Shares of Unitech, DB Realty and Reliance Communications, which are in the midst of 2G scam, today closed lower in the range of 1-2% on the Bombay Stock Exchange.business Updated: Apr 04, 2011 19:12 IST
Shares of Unitech, DB Realty and Reliance Communications, which are in the midst of 2G scam, on Monday closed lower in the range of 1-2% on the Bombay Stock Exchange (BSE).
ADAG company Reliance Communications (RCom) is the holding company of Reliance Telecom which has been named in the charge-sheet filed by CBI in the 2G spectrum scam case.
RCom fell by as much as 2.24% to settle at Rs 109.15 on BSE. In the intra-day trade, the scrip went down by 3.94% to touch the day's low of Rs 107.25.
Real estate major Unitech, the joint venture partner in Unitech Wireless-- another telecom named in the charge-sheet, ended the trade at Rs 41.3, down 1.31% from the previous close. During the day, it had tumbled by 8%.
DB Realty which owns Swan Telecom, the third company named in the charge-sheet, shed five% before settling at Rs 113.8, down 2.32% from its last close.
Market analysts said shares of RCom, DB Realty and Unitech are under pressure as thier subsidiaries or joint ventures have been named in the first charge-sheet filed by the CBI in connection with the 2G scam on Saturday.
The charge-sheet also names former telecom minister A Raja and 8 others, including former telecom secretary Siddharth Behura.