You see it every day on the tickers. That tiny, flickering number. As of January 17, 2026, the Reliance Communications Limited share price is hovering around a measly ₹1.05. It’s a "penny stock" in the truest, most heartbreaking sense of the word. For some, it’s a gamble. For others, it’s a ghost of a telecom empire that once stood shoulder-to-shoulder with the world's best.
Honestly, the story isn't just about a number on a screen. It's about a company that’s basically been in a legal and financial coma for years.
Why the share price feels stuck in the mud
If you're looking at the Reliance Communications Limited share price and wondering why it doesn't move like a normal stock, you've gotta understand the "CIRP" factor. That stands for Corporate Insolvency Resolution Process. RCom has been under this since June 2019. When a company is in this state, the Board of Directors is basically sidelined.
Anish Niranjan Nanavaty—the Resolution Professional—is the one actually calling the shots.
The market cap is sitting around ₹290 crore right now. That sounds like a lot until you realize the debt is estimated at over ₹40,000 crore. It's a massive, gaping hole. The shares are still trading on the NSE and BSE, but it’s high-risk territory. Total volatility. Just yesterday, the stock hit a 52-week low of ₹1.04.
The "Fraud" Tag and Recent Legal Drama
Things got even messier recently. In July 2025, the State Bank of India (SBI) officially classified RCom’s loan accounts as "fraud." This isn't just corporate lingo; it means they are reporting the name of Anil Ambani to the RBI.
The Bombay High Court recently upheld some of these moves, though there have been constant back-and-forth appeals. In November 2025, the Enforcement Directorate (ED) even attached assets worth over ₹4,000 crore in connection with money laundering investigations.
When you see news like that, the share price usually takes a nosedive.
- Current Price: ₹1.05 (approx)
- 52-Week High: ₹1.98
- 52-Week Low: ₹1.04
- The Big Number: ₹844 (The all-time high back in 2008)
Can it ever bounce back?
People keep asking: "Is there a turnaround coming?"
Look, Reliance Jio already bought the towers and fiber assets for about ₹3,720 crore a couple of years back. That money goes to the lenders, not the equity shareholders. In a bankruptcy, shareholders are usually the last people to see a single paisa.
We just saw a similar case with Reliance Innoventures. The NCLT approved a resolution plan there where creditors only recovered 2.6% of their money. The original equity? It was completely extinguished. Deleted. Gone.
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That is the biggest risk for anyone holding RCom today. If a final resolution plan is approved for RCom, there’s a very high chance the current shares will be cancelled or reduced to near-zero value to make room for new owners.
The Misconception of "Value"
Some investors see a ₹1 stock and think, "It can't go much lower."
It can. It can go to zero.
The "Value" isn't in the brand name anymore. The brand is a shadow. The value is tied up in spectrum disputes that have reached the Supreme Court. The government is arguing that spectrum—the invisible airwaves—is a national asset and can't just be sold off by a bankrupt company to pay back banks. This legal deadlock is exactly why the Reliance Communications Limited share price has been flatlining for so long.
What you should actually do
If you're holding these shares, you're essentially holding a lottery ticket where the prize might not even exist.
Don't average down. That's the biggest mistake. Throwing "good" money after "bad" in a company undergoing insolvency is a classic trap. Most professional analysts have stopped even covering the stock because the fundamentals are technically negative—the book value per share is somewhere around ₹-350.
Next Steps for Investors:
- Check your exposure: If this stock makes up more than 1% of your portfolio, you're over-leveraged in a "distressed asset."
- Monitor NCLT Filings: The only thing that will truly move this stock (or end it) is a final decree from the Mumbai bench of the National Company Law Tribunal.
- Watch the Peers: Look at how GTL Infrastructure or MTNL behave. They often trade in sympathy, but RCom’s fraud classification makes it a unique, and much more dangerous, beast.
- Tax Loss Harvesting: If you're sitting on heavy losses, talk to a tax professional. Sometimes booking the loss is more valuable for your tax return than holding onto a "hope" that likely won't manifest.
The era of RCom as a telecom giant is over. What’s left is a legal shell. Treat it as such.