Reliance Communications (RCom) is currently trading at Rs. 62.55, up by 1.30 points or 2.12% from its previous closing of Rs. 61.25 on the BSE.
The scrip opened at Rs. 61.65 and has touched a high and low of Rs. 63.15 and Rs. 61.65 respectively. So far 337326 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 156.90 on 10-Jun-2014 and a 52 week low of Rs. 56.90 on 27-Mar-2015.
Last one week high and low of the scrip stood at Rs. 67.35 and Rs. 61.00 respectively. The current market cap of the company is Rs. 15543.68 crore.
The promoters holding in the company stood at 59.70% while Institutions and Non-Institutions held 29.57% and 10.51% respectively.
RCom is reportedly planning to offer 4G services, starting in Gujarat, where its CDMA network operates on airwaves similar to those it has acquired to deploy the high-speed mobile telecom technology.
India’s fourth-largest carrier will need to spend about $40 million (Rs 255 crore) to pay for equipment and also to enable use of the CDMA spectrum for 4G in Gujarat before the launch, for which the internal deadline is November.
The company has chosen to start with Gujarat because it recently won 2.5 MHz of airwaves in the sub-1 GHz band, which, together with 2.5 MHz of its existing spectrum, can be used to deploy 4G services
