Bleak future of Anil Ambani's Rel Naval & Engineering
Bleak future of Anil Ambani's Rel Naval & Engineering
Reliance Naval & Engg of Anil Ambani has a bleak future,its auditors say. Its share value at BSE fell by 13.33% (Rs. 23.40) & intraday had a further drop of 18.14% (Rs. 22.10).This is lowest value in 52 weeks.Market cap of co. is also reduced by 265.04 Cr. to Rs. 1725.96 cr. Its other co.s also saw a fall such as;RCom 10.47% ;Rel Power 4.18% ;Rel Infra 1.89% & Rel cap 1.34%.
Reliance Naval And Engineering of Anil Ambani does not have a good future, as per its auditors, its share value at BSE dropped by 13.33% (Rs. 23.40/share) and then intraday had a further drop of 18.14% (Rs. 22.10/share).This is lowest value in 52 weeks. Market cap of the company is also reduced by 265.04 Crore to Rs. 1725.96 crore. Its other companies also saw a fall as given ahead --- Reliance Communications 10.47% fall; Reliance Power 4.18% fall; Reliance Infrastructure 1.89% fall and Reliance capital 1.34% fall. In FY 2017-18, its auditor Pathak HD Associates said that reason of loss is reduction in Network, refund of loans to lenders; existing liabilities are more than its assets. This situation is reflects an unsure future. Loss in last FY's last quarter(January-March) was Rs. 139.92 crore. Total loss in FY 2017-18 was 956.09 Crore and its total income was only Rs. 413.84 crore against previous FY which was Rs. 564.14 crore. Reliance Communications has received permission to sell its assets to Jio. Ref. : https://www.khabarindiatv.com/paisa/business-reliance-naval-plunges-over-13-as-auditors-raise-doubts-over-co-s-future-579493 --- Dated Apr'24,2018.
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