Reliance Communications Ltd falls as much as 4.1 pct in its biggest intraday pct drop since March 8.
Co laid off more than 600 roles, Economic Times reported on Saturday, citing people familiar with the matter.
The job cuts will help co integrate workforce when it merges with Aircel and MTS, co officials not wanting to be named told the newspaper.
Reliance Communications declined to comment on the matter, when contacted by Reuters.
Reliance said in September it would combine its wireless business with smaller rival Aircel.
