Reliance Communication (RCom) is trading lower by 3% at Rs 52.75, also its lifetime low on worries about the impact from the entry of a unit of Reliance Industries (RIL) into the telecom sector. The internet arm of Mukesh Ambani-led RIL Infotel Broadband is planning to offer cheaper data and voice services soon.
The global financial services company Credit Suisse said that with Infotel planning to enter the wireless voice market, there is a significant risk to the telecom industry's business model and there will be increasing competition in the telecom segment.
The stock opened at Rs 54 and hit a high of Rs 54.55 on the NSE. A combined 4.65 million shares have changed hands on the counter so far on both the exchanges.
