Anil Ambani Group shares under pressure; RCom plunges 48%

Reliance Capital, Reliance Naval and Engineering, Reliance Infrastructure, Reliance Home Finance, Reliance Power and Reliance Nippon Life were down up to 14 per cent on the BSE in intra-day trade.

Shares of Anil Dhirubhai Ambani Group (ADAG) companies were under pressure with Reliance Communication (RCom) tanking 48 per cent to Rs 6, also its record low in early morning trade on the BSE after the company said it will propose a similar debt resolution plan to the National Company Law Tribunal (NCLT) that it had been pursuing outside the court.

On Friday after market hours, RCom said it would be filing for bankruptcy in the NCLT after the telco failed to take necessary approvals from lenders and the Department of Telecommunications (DoT) to conclude its deal with Reliance Jio.