The stock has seen a steady decline in the last one year with the stock falling over 90 percent.
Share price of Reliance Capital tumbled over 8 percent intraday on September 23 after credit rating agency CARE downgraded the rating of the company to “CARE D” for the company’s long-term debt program, market-linked debentures and subordinated debt of the company, due to the alleged “delay” in payment of interest by one day.
“The company made a stock exchange filing on September 11 stating that the interest payment for NCDs which was due on September 9 was duly activated on the due date, but the same could not go through owing to a technical glitch in bank servers on that date and the payment went through on the very next bank working day on September 11,” the company said in a BSE filing.
The stock has seen a steady decline in the last one year, falling over 90 percent.
At 1100 hrs, Reliance Capital was quoting at Rs 28.75, down Rs 2.60, or 8.29 percent. It has touched a 52-week low of Rs 28.40.
