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Reliance Communications shares plunge 48% after bankruptcy filing

Today the shares of Indias largest communication service provider  Reliance Communications Ltd has plunged over 48% in morning trade after the company has decided to opt for insolvency proceedings, following its failure to sell assets for paying back its lenders. RCom fell as much as 48.27% on BSE to Rs 6 a share intraday. At 9.40 am, the stock was trading at Rs.7.34 on BSE, down 36.7% from its previous close. In comparison, benchmark Sensex fell 0.23% to 36,386.78 points. According to the report, RCom’s USD bonds due November 2020…

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