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Reliance Communications rallies 19% on back of heavy volumes

Thus far in 2017, the stock tanked 29% against 17% rise in Sensex till Friday, August 11.

A man opens the shutter of a shop painted with an advertisement of Reliance Communications in Mumbai
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A man opens the shutter of a shop painted with an advertisement of Reliance Communications in Mumbai

SI Reporter Mumbai
Reliance Communications (RCOM) has rallied 19% to Rs 24.65 on BSE in intra-day trade on the back of heavy volumes.

The trading volumes on the counter more than doubled with a combined 41.03 million shares, representing 1.6% of total equity of RCOM, changing hands on BSE and NSE so far.

Thus far in the calendar year 2017, the stock underperformed the market by falling 29% as compared to 17% rise in the S&P BSE Sensex till Friday, August 11, 2017.

According to reports, the National Company Law Tribunal (NCLT) is set to pronounce its decision on August

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