Share market / invest in this share will soon have a big boom.
Share market / At one time the share of this big company was close to 800 rupees, today the price is two rupees, now it will rise again. Know the full information.
Investors in the stock market know that many cities have given multiplexer returns while many have suffered heavy losses. The share we are going to talk about here was once priced around 800 rupees, now this share has come down to just two rupees. And the thing to know is that this stock has been showing a bullish trend for some time. Let’s know all information about this share
Share market – Reliance Communication
The name of the stock we are talking about is Reliance Communication. The stock of Reliance Communications has been rising for some time now. Ser has returned around 63% to its investors in the last six months. The stock has gained more than 15% in a month. The stock closed at ₹2.20 on NSE on 9 February 2024.
Why is there an increase in this stock?
This increase in the shares of Reliance Communication is being seen after a decision taken by the government.
The central government approved the auction of eight spectrum bands for mobile phone services at a base price of Rs 96,317.65 crore.
After which a surge was also seen in RCom.
At the same time, the existing agreements of some telecom companies which are going through the process of Naderi will also be put up for sale in this auction.
RCom has also released its third quarter results for FY2023 24.
RCom’s third quarter results show a huge loss for the company.
Reliance Communications’ net loss widened to Rs 2,060 crore in the quarter ended December 2023 compared to Rs 9,014 crore in the quarter ended December 2022.
Sales fell 21.67 percent to ₹94 crore in the quarter ended December 2023.
It was Rs 120 crore during the last quarter ended December 2022.