Reliance Communications shares jumped over 3% in intraday deals on Friday, September 5, despite PSU lender Bank of Baroda classifying the company’s loan accounts and its promoter and director, Anil Ambani, as ‘fraud’.
The penny stock below ₹2, Reliance Communications, jumped to the day’s high of ₹1.43 on the National Stock Exchange (NSE) in early morning trade, rising as much as 3.62% over its last closing price of ₹1.38.
As of 9.55 am, there were 11 lakh buy orders and 4 lakh sell orders for Reliance Communications shares on the NSE.
BoB declares RComm, Anil Ambani as ‘fraud’
The company, in an exchange filing, last evening, said, “This is to inform you that Reliance Communications Limited (“Company”) has received the aforementioned Letter dated September 02, 2025 (received on September 03, 2025), from Bank of Baroda inter alia, stating that Bank of Baroda has decided to classify the loan accounts of the Company and Shri Anil Dhirajlal Ambani (in his capacity as the promoter and director of the Company (erstwhile) as ‘Fraud’.”
