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Canara Bank classifies Reliance Communications loan as fraud

after close1 source ↓written by the desknot a recommendation

Canara Bank has classified the loan accounts of Reliance Communications and its subsidiary as fraud, citing a forensic audit revealing diversion of ₹31,580 cr in funds. The bank will report this matter to the Reserve Bank of India, impacting the company's financial standing and investor sentiment. 📉

This classification raises concerns over the company's ability to manage its debts and could lead to further regulatory scrutiny.

Not investment advice. For informational purposes only.

OI Charts is not a SEBI-registered investment adviser or research analyst. This bulletin was written by the OI Charts desk from the public sources listed here. It is commentary on market conditions, not a basis for any investment decision and not a recommendation to buy or sell any security. Prices as of 11 Mar 2026, 16:12 IST.

Sourcesnews.google.com

Read inENहिंతెमराதગુ

The market after the news

RCOM closed +4.3% on the day of the news, from ₹0.93 to ₹0.97; Nifty −0.9% over the same session.

Bulletin at 16:12 IST on 11 Mar 2026. Every change is measured from ₹0.93, the last close before it, on 11 Mar. Nifty 50 is measured over the same sessions.

  • RCOM close ₹
  • Nifty 50, rebased to the close before the news
  • close before the news
  • above it
  • below it
RCOM closes around the bulletin against the close before the news, with Nifty 50 rebased to it0.720.931.14axis spans 57%before the news · 11 Mar0.93Nifty 50RCOMbulletinD0+1+3+55 Mar17 Mar27 MarReference close ₹0.93. 16 sessions from 5 Mar to 27 Mar; the price axis spans 57 percent.
price axis fixed at 4 × the 14-session true range around the close before the news · values printed at each marked session
Closes after the news against the close before it, with Nifty 50 over the same span
SessionClose ₹Change %Nifty %
Before11 Mar₹0.93basebase
On the day12 Mar₹0.97▲ +4.3%▼ −0.9%+5.3 pp difference
+1 session13 Mar₹1.01▲ +8.6%▼ −3.0%+11.6 pp difference
+3 sessions17 Mar₹0.92▼ −1.1%▼ −1.2%+0.1 pp difference
+5 sessions19 Mar₹0.87▼ −6.5%▼ −3.6%−2.8 pp difference
Gap at the open, % · ₹
▲ +3.2%+0.03 on 12 Mar
Day's range, % · ₹
2.1%≈ 0.02 high to low
Volume on the day
0.65×the 20-session average
Futures OI on the day
—
Futures OI open, lots
—
Futures premium, ₹
—
Puts per call, by OI
—
Max pain
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