RCom nears record low on talk of closure of DTH business

The stock dipped 5% to Rs 16.15 on the BSE in intra-day trade in otherwise strong market.

Reliance Communications (RCom) dipped 5% to Rs 16.15 on the BSE in intra-day trade in an otherwise strong market after media reports suggested that the telecom company shutting down its direct-to-home (DTH) business. The stock was trading close to its record low of Rs 15.90 touched on October 12, 2017 in intra-day trade.

According to a Business Standard report, RCom, which is in the midst of a debt restructuring, is shutting down its direct-to-home television business from next month after it failed to find any buyer for the business.

RCom earlier tried to sell the company to rivals