Quick Links

    cricketnext

    News

    2G: RCom, Unitech, DB Realty shares hit on BSE

    Mumbai: Shares of Unitech, DB Realty and Reliance Communications, which are in the midst of 2G scam, on Monday closed lower in the range of 1-2 per cent on the Bombay Stock Exchange (BSE).

    ADAG company Reliance Communications (RCom) is the holding company of Reliance Telecom which has been named in the charge-sheet filed by CBI in the 2G spectrum scam case.

    RCom fell by as much as 2.24 per cent to settle at Rs 109.15 on BSE. In the intra-day trade, the scrip went down by 3.94 per cent to touch the day's low of Rs 107.25.

    Real estate major Unitech, the joint venture partner in Unitech Wireless - another telecom named in the charge-sheet, ended the trade at Rs 41.3, down 1.31 per cent from the previous close. During the day, it had tumbled by 8 per cent.

    DB Realty which owns Swan Telecom, the third company named in the charge-sheet, shed five per cent before settling at Rs 113.8, down 2.32 per cent from its last close.

    Market analysts said shares of RCom, DB Realty and Unitech are under pressure as thier subsidiaries or joint ventures have been named in the first charge-sheet filed by the CBI in connection with the 2G scam on Saturday.

    The charge-sheet also names former telecom minister A Raja and 8 others, including former telecom secretary Siddharth Behura.