Stocks to watch today: Share market experts expect the market to consolidate in the near term, although investors can use corrections as buying opportunity. Tata Communications, Adani Enterprises, Vedanta, RIL among stocks in focus on Monday, June 26, 2023.
Stocks in focus today: The short-term trend of Nifty remains choppy and the medium uptrend status is intact. There is a possibility of some more consolidation for the next 1 or 2 sessions before resuming its upside momentum again from the lows. Tata Communications, CRISIL, Reliance Capital, Sterling & Wilson are among the stocks to watch on April 19, 2023.
Reliance Communications share price rose 4.35% to the intraday high of Rs 0.72 compared to its previous closing price of Rs 0.69
Weighed down by the development, RCom share price declined over 3 per cent in opening trade to touch an all-time low of Rs 0.57 apiece against previous closing price of Rs 0.59
Shares of Reliance Communications rose 10 per cent in the early day trade after Anil Ambani-led company announced that it had cleared Ericsson dues.
Extending losses for the sixth straight day, shares of debt-ridden telecom company declined as much as 6 per cent in intra-day trade to hit all-time low of Rs 4.82, in otherwise strong market.
MTNL share price gained 19.48% intra day to 14.35 level compared to the previous close of 12.01 level. MTNL share price lost 38% during the last one year and 13.84% since the beginning of this year.
Though Ambani has (theoretically) many options but executing them is going to be challenging. Broadly, he can do three things: sell RCom's assets to Reliance Jio, a deal which was signed in 2017; or take help from other Reliance Group companies.
Shares of Reliance Anil Ambani's Reliance Group companies ended in negative terrain on Wednesday after the Supreme Court held the Chairman Anil Ambani guilty of contempt of court in a petition filed by Ericsson India against him over non-payment of dues worth over Rs 550 crore.
The Reliance Group shares were the top losers on the BSE. While Reliance Communications share price fell 6.15% to 5.65, Reliance Capital fell 10.26% to 135.95. Shares of Reliance Infrastructure too lost 5.03% to 116.05 level.
While Reliance Infrastructure share price surged 13.01% to 129.85, Reliance Capital share price rose 11.51% to 165.65 on the BSE. The Reliance Communications share price surged over 12% to 6.15 on the BSE. The Reliance Power stock too surged over 9 percent to 11.70 in trade today.





