RCom stock tanks 11% on Aircel deal collapse

Share price of other telcos feel the heat, fell 1-3%

The Reliance Communications (RCom) stock on Tuesday declined nearly 11 per cent, after the merger of its mobile business with Aircel was called off on Sunday, citing legal and regulatory hurdles. Markets were closed on Monday on account of Gandhi Jayanti.
 
On the BSE, the stock hit a record low of Rs 16.75 during the day before closing at Rs 17.10, its lowest closing since the stock listed in July 2006, following the split of businesses between Mukesh Ambani and Anil Ambani. At Rs 17.10, the stock is down 98 per cent from its all-time high of over Rs