RCom Shares Plunge After Telecom Company Approaches Bankruptcy Court

Debt-laden Reliance Communications' (RCom) shares plunged by more than half to a record low on Monday, after the telecom company said it will seek a fast-track resolution to its indebtedness through the bankruptcy court, National Company Law Tribunal. On the National Stock Exchange (NSE), RCom shares finished the session at Rs 7.55 apiece, down 34.9 per cent from the previous close of Rs 11.60.