RCOM slips nearly 3%, Rel Cap down 3.7% in early trade | business | Hindustan Times
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RCOM slips nearly 3%, Rel Cap down 3.7% in early trade

business Updated: Nov 15, 2010 11:51 IST

PTI
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Anil Ambani Group firms Reliance Communications and Reliance Capital plummeted by as much as 3.7% in early trade on the Bombay Stock Exchange (BSE) on Monday after both companies reported a dip in second quarter net profit last week.

Shares of telecom giant RCom slipped by 2.91% to a one-month-low of Rs 165 on the BSE. On Saturday, the company had posted a nearly 40% decline in consolidated net profit for the July-September quarter to Rs 445 crore, as against a net profit of Rs 740 crore in the year-ago period.

Similarly, shares of Reliance Capital, which reported a 28% decline in net profit to Rs 112 crore for the second quarter ended September 30, slumped by 3.7% to a four-week low of Rs 755 on BSE.

Shares of ADAG firm Reliance Infrastructure also lost 2.21% to Rs 1,024.15 in morning trade, despite a 10.95% growth in second quarter net profit.

Meanwhile, the 30-share benchmark Sensex was down by 49.92 points at 20,106.97 at 1120 hours on Monday.