Reliance Communications (RCom) is currently trading at Rs 59.60, up by 2.05 points or 3.56% from its previous closing of Rs 57.55 on the BSE.
The scrip opened at Rs 58.75 and has touched a high and low of Rs 60.20 and Rs 58.30 respectively. So far 1225526 shares were traded on the counter.
The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs 109.70 on 22-Feb-2012 and a 52 week low of Rs 46.60 on 30-Aug-2012.
Last one week high and low of the scrip stood at Rs 60.20 and Rs 51.80 respectively. The current market cap of the company is Rs 12291.28 crore.
The promoters holding in the company stood at 67.86% while Institutions and Non-Institutions held 16.30% and 15.47% respectively.
Flagship company of the Anil Dhirubhai Ambani Group (ADAG), Reliance Communication, in a bid to improve its operating margins, has increased its calling rates by 25% in four telecom zone, thereby setting the stage for all leading mobile phone companies to go in for a second round of tariff hikes in the period of about a year.
The company has hiked its base price from 1.2 paise per second to 1.5 paise , which will initially be implemented in four states and be rolled out across the rest of the county within a month. Further, although the company’s revised call rates will initially affect new customers; the same will be extended to its existing users when the validity of their current tariff plans come to an end.
Reliance Communications, on standalone basis, the company has reported a net loss of Rs 252 crore for first quarter ended June 30, 2012 against net loss of Rs 272 crore for the corresponding period last fiscal. Total income decreased by 6.93% at Rs 2794 crore during the quarter under review from Rs 3002 crore in the year-ago period.
On consolidated, the company has reported a rise of 3.18% in net profit of Rs 162 crore for the quarter ended June 30, 2012 against net profit of Rs 157 crore for the corresponding period last fiscal. Total income increased by 7.54% at Rs 5319 crore during the quarter under review from Rs 4946 crore in the year-ago period.
