Representative image
Representative image

New Delhi: Shares of Reliance Capital on Monday dropped 8% after CARE Ratings downgraded the company's long-term debt program. The stock tanked 7.50% to close at Rs 29 on the BSE. On the NSE, it plunged 7.98% to close at Rs 28.80.

CARE downgraded rating for the company's long-term debt program, market-linked debentures and subordinated debt to CARE D, due to the alleged "delay" in payment of interest by one day.

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