While RCom fell by 12.12 per cent to Rs 10.15 on the BSE, Reliance Capital plunged by 10.21 per cent to Rs 422.75, Reliance Infra by 9.16 per cent to Rs 417.40 and Reliance Power by 8.55 per cent. Reliance Nippon Life, which was listed recently, declined 6.87 per cent to Rs 254.20.
News reports on the group have been mixed - while the demerger and separate listing of Reliance Capital's (RCap's) housing finance arm and the initial public offering (IPO) of its asset management business were positive, RCom disappointed.
The telco reported a quarterly loss of Rs2,709 crore compared with a profit of Rs62 crore a year ago.
On November 13, RCom missed the seven-day grace period for interest payment on the foreign currency bonds. The company is reeling under a debt burden of more than Rs 34,844 crore, and has been in negotiations with the lenders to restructure loans.
Reliance Communications said on Wednesday that it is not making any payment to lenders or bond-holders for the time being as it is under a "standstill period" with a strategic debt restructuring scheme and working on asset-monetisation.
"The Company has also announced various asset sales and a comprehensive debt resolution plan, as advised per our earlier letter dated 30th October 2017".
Affirming that the company has filed a "Cease & Desist" notice and/or injunction against competitors in India, RCom-GCX further said all necessary legal and other administrative steps are being taken up with the relevant authorities to put a stop to this malpractice by the competition. The telecom business defaulted on interest payment to its United States dollar bond holders this week, sending its share price below Rs 10 in intra-day trades. "We are extremely excited about the growing business opportunities in the Enterprise space and continue to make investments to significantly enhance our operations, data centres and network infrastructure, in order to better serve our Enterprise Business customers across India and globally", RCom-GCX added.