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RCom rings loud on plan to hive off assets to reduce debt by about 37%

18 Aug 2014 Evaluate

Reliance Communications (RCom) is currently trading at Rs. 122.00, up by 1.30 points or 1.08% from its previous closing of Rs. 120.70 on the BSE.

The scrip opened at Rs. 120.00 and has touched a high and low of Rs. 122.80 and Rs. 118.30 respectively. So far 482139 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 164.45 on 20-Sep-2013 and a 52 week low of Rs. 105.80 on 28-Aug-2013.

Last one week high and low of the scrip stood at Rs. 128.85 and Rs. 116.50 respectively. The current market cap of the company is Rs. 28875.80 crore.

The promoters holding in the company stood at 58.25% while Institutions and Non-Institutions held 31.85% and 9.67% respectively.

In a bid to reduce debt by about 37% to Rs 25,500 crore, Reliance Communications (RCom) is planning to cut down expansion cost and hive off some assets in the next 12 months. Moreover, RCom is planning to use the key infrastructure - mobile towers and optical fibre - of Reliance Jio Infocomm for future expansion rather making its own fresh investments.

RCom had net debt of about Rs 40,222.6 crore at the end of June 30. The company in the first week of July had raised about Rs 4,800 crore in a QIP that was used to reduce debt to about Rs 35,000 crore.

Reliance Communications is India’s foremost and truly integrated telecommunications service provider. The company, with a customer base of about 150 million, including over 2.5 million individual overseas retail customers, ranks among the Top 4 Telecom companies in the world by number of customers in a single country.

Reliance Comm Share Price

1.05 0.01 (0.96%)
17-Apr-2026 16:59 View Price Chart
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