Reliance Capital shares fall 3 after defaulting on interest payments to HDFC, Axis Bank

Reliance Capital shares fall 3 after defaulting on interest payments to HDFC, Axis Bank

Reliance Capital's share price was down over 3 percent after the company defaulted on interest payments on HDFC and Axis Bank loans.

Anil Ambani-led Reliance Capital has defaulted on interest payments on loans worth Rs 624 crore drawn from Housing Development Finance Corporation (HDFC) and Axis Bank, the company informed stock exchanges on November 27, 2020.

The company has defaulted on Rs 4.77 crore to HDFC and Rs 0.71 crore to Axis in terms of the interest payment as of October 31.

The stock was trading at Rs 9.40, down Rs 0.31, or 3.19 percent at 09:48 hours. It has touched an intraday high of Rs 9.75 and an intraday low of Rs 9.23.