RCom is currently trading at Rs. 51.95, up by 0.90 points or 1.76% from its previous closing of Rs. 51.05 on the BSE.
The scrip opened at Rs. 52.25 and has touched a high and low of Rs. 53.00 and Rs. 51.25 respectively. So far 22,29,000 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 91.80 on 01-Jan-2016 and a 52 week low of Rs. 45.55 on 24-Jun-2016.
Last one week high and low of the scrip stood at Rs. 53.00 and Rs. 48.30 respectively. The current market cap of the company is Rs. 12,930.25 crore.
The promoters holding in the company stood at 59.05%, while Institutions and Non-Institutions held 26.73% and 14.18% respectively.
Reliance Communications (RCom) has agreed to merge its wireless telecom businesses with Aircel, which will create India’s third biggest telecom operator in terms of subscriber base. RCom and Aircel’s parent, Malaysia’s Maxis Communications will hold 50 per cent each in the merged entity with equal representation on the board and committees.
The deal will help reduce RCom’s debt by Rs 20,000 crore, or more than 40 percent of its total debt, while Aircel’s debt will fall by about Rs 4,000 crore. The new entity will hold the second largest spectrum portfolio among all operators in India across the 850, 900, 1800 and 2,100 MHz bands.
Reliance Communications is India’s foremost and truly-integrated telecommunications service provider. The company has a customer base of over 111 million, including over 2.6 million individual overseas retail customers.
