RCom snaps 4-session winning streak on profit booking

Shares of Reliance Communications snapped a four-session winning streak and fell 7% on profit booking.

Shares of Reliance Communications surged over 100% over the past four sessions, as the company said it has come out of debt restructuring and sold its wireless and tower assets to Mukesh Ambani's Reliance Jio Infocomm.

The stock is currently trading at Rs35.55, down by Rs0.67 or 1.85% from its previous closing of Rs36.22 on the BSE. The scrip opened at Rs37.45 and has touched a high and low of Rs37.8 and Rs33.6 respectively.

Reliance Communication (RCOM) is a diversified telecom service provider offering wireless, wireline and DTH services. It is a dual technology (GSM + CDMA) wireless player. It has RMS of 5% and subscriber base of 10.3 crore as on March 31, 2016.