Shares of Reliance Communications Limited fell about 3% intraday Friday, 7 April 2017, since investors turned alert of reports of operational trouble in the company.
Reliance Communication has also not been reportedly making timely payments to vendors and other telecom companies. The vendors say that the company has not been paying inter-connect usage charges to some of them for more than two months. The maximum inter-connect user charge payments pending are towards Vodafone and Airtel. Based on this reason, the customers have been facing interconnect issues in some key circles for a many days.
However, Reliance Communication’s stock gained about 6% in the past one month, while its 3-day gain stood at 2%. At mid noon, the Reliance Communication’s stock was quoting at Rs 39.70, down 1.12% on the BSE, touching an intraday high and low of Rs 40.60 and Rs 39.10 respectively.
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