Reliance Communications continued its losing streak for the fifth consecutive session today, with the counter plunging by nearly five per cent in the early trade on the BSE.
The scrip has been reeling under pressure ever since the CAG report said Swan telecom, one of the companies under scanner for illicitly securing 2G licences, was a front company for Reliance Telecom.
The news of CBI raiding the premises of accused officials and former Telecom Minister A Raja yesterday had jittery investors selling RCom shares, which lost 4.89 per cent to hit an early-low of Rs 123.50 on the Bombay Stock Exchange.
Prior to this, the counter had witnessed 8.42 per cent decline in the last four trading sessions.
Another telecom major Bharti Airtel also suffered a loss of 2.01 per cent at Rs 340.55 in the morning session on BSE.
Meanwhile, the 30-share benchmark Sensex was quoting flat at 19,702.35.
