Reliance Communications (RCom) is currently trading at Rs. 16.10, up by 0.25 points or 1.58% from its previous closing of Rs. 15.85 on the BSE.
The scrip opened at Rs. 16.20 and has touched a high and low of Rs. 16.50 and Rs. 16.00 respectively. So far 4,73,000 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 45.65 on 08-Nov-2016 and a 52 week low of Rs. 15.50 on 06-Nov-2017.
Last one week high and low of the scrip stood at Rs. 17.55 and Rs. 15.50 respectively. The current market cap of the company is Rs. 3,994.00 crore.
The promoters holding in the company stood at 59.00%, while Institutions and Non-Institutions held 19.93% and 21.07% respectively.
Reliance Communications has entered into a binding Memorandum of Understanding (MoU) with Veecon Media and Television, for sale of its subsidiary Reliance BIG TV (RBTV), engaged in the business of Direct to Home (DTH) services across India. Pursuant to the transaction, the buyer will acquire the entire shareholding of RBTV with business on as-is where-is basis, along with all existing trade liabilities and contingent liabilities.
The existing DTH license of BIG TV shall be renewed with the submission of the required Bank Guarantees with the Ministry of Information and Broadcasting by the buyer. The transaction ensures that all existing 1.2 million customers of RBTV shall continue to enjoy uninterrupted services. It also ensures the continuity of employment for approximately 500 employees of RBTV.
The transaction will help reduce the liability of unsecured creditors, benefitting all stakeholders including lenders and shareholders of RCom. The successful culmination of the transaction is subject to the requisite approvals from licensors, regulatory authorities and lenders of RCom.
| Company Name | CMP |
|---|---|
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| Vodafone Idea | 9.63 |
| Indus Towers | 406.65 |
| Tata Communications | 1510.45 |
| Bharti Hexacom Ltd. | 1550.00 |
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