Market Movers: RIL-owned firms soar, Vodafone Idea plunges; 250 stocks hit 52-week low

NEW DELHI: Reliance Industries-owned media stocks soared on Tuesday after the company announced plans to merge its four entities — Network18, TV18 Broadcast, DEN and Hathway. Shares gained up to 20 per cent on BSE.

Vodafone Idea, on the other hand, tumbled over 11 per cent after Care Ratings downgraded its long-term bank facilities and non-convertible debentures.

Benchmark indices logged their fourth straight day of loss. BSE flagship Sensex fell 161 points to 40,894 while NSE barometer Nifty was down 53 points to 11,992.