Reliance Communications (RCom) is currently trading at Rs. 39.25, up by 8.29 points or 26.78% from its previous closing of Rs. 30.96 on the BSE.
The scrip opened at Rs. 34.05 and has touched a high and low of Rs. 40.24 and Rs. 34.05 respectively. So far 87,40,000 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 41.77 on 29-Dec-2017 and a 52 week low of Rs. 9.60 on 15-Nov-2017.
Last one week high and low of the scrip stood at Rs. 41.77 and Rs. 16.50 respectively. The current market cap of the company is Rs. 10,470.00 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 (RCom) has signed definitive binding agreements with Reliance Industries (RIL) telecom arm - Reliance Jio Infocomm (RJio) for sale of Wireless Spectrum, Tower, Fiber and Media Convergence Node (MCN) assets. The company expects the transactions to close in a phased manner between January and March 2018, subject to lenders’ and other applicable approvals.
RCom worked closely with all Lenders and SBI Capital Markets, the advisors appointed by the Lenders, to run a competitive process for the monetization of its valuable assets. RJio emerged as the highest bidder in a transparent process conducted under the supervision of a high-powered Bid Evaluation Committee, comprising experts from banking, telecom and law.
The RJio deal consideration comprises primarily of cash payment and includes transfer of deferred spectrum installments payable to the Department of Telecommunication (DoT). RCom will utilize the proceeds of the monetization of this cash deal solely for pre-payment of debt to its lenders.
RCom is India’s foremost and truly integrated telecommunications service provider.
| Company Name | CMP |
|---|---|
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| Vodafone Idea | 9.62 |
| Indus Towers | 412.35 |
| Tata Communications | 1521.05 |
| Bharti Hexacom Ltd. | 1538.30 |
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