Reliance Communications Hits Lower Circuit Limit with Stock Price Plummeting to Rs 1.14

Reliance Communications Ltd, a microcap player in the Telecom - Services industry, experienced significant trading activity today as the stock hit its lower circuit limit. The last traded price was Rs. 1.22, reflecting a minor change of Rs. 0.01 or 0.83%. The stock reached an intraday low of Rs. 1.14, marking a new 52-week low.
In terms of trading volume, approximately 16.17 lakh shares were exchanged, resulting in a turnover of Rs. 0.19 crore. The stock has been on a downward trend, underperforming its sector by 1.28% and recording a consecutive decline over the past seven days, with a total drop of 11.76% during this period. Reliance Communications is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a challenging market position.

Despite a rise in delivery volume, which increased by 19.75% against the 5-day average, the overall performance remains subdued. The liquidity of the stock is adequate for trading, based on 2% of the 5-day average traded value. Overall, Reliance Communications continues to face headwinds in the current market environment.