Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

RCom shareholders approve asset monetization

Posted On: 2018-02-17 02:08:08

The shareholders of the Company approved the monetization of its assets. The Company announced the results of postal ballot on 15th February 2018, whereby the Shareholders approved the resolution to monetize the Spectrum, Towers, Fiber, Telecom Infrastructure and other assets with overwhelming majority of 99.91%.

RCOM's asset monetization is proceeding on fast track to close by March 2018, subject to lenders' consents and other regulatory approvals. Post monetization, the debt and liabilities of the Company will reduce by ~Rs. 25,000 crore by prepayment of debts and transfer of Department of Telecommunications' Spectrum Installments.

RCOM's continuing operations will comprise stable and profitable B2B focused businesses, including Indian and Global Enterprise, Internet Data Centres and the largest private submarine cable network in the world. These B2B businesses are stable, capital light and have sustained and predictable annuity revenues and profits, with immense growth potential amidst relatively low competitive intensity.

Shares of RELIANCE COMMUNICATIONS LTD. was last trading in BSE at Rs.28.4 as compared to the previous close of Rs. 27.95. The total number of shares traded during the day was 8718630 in over 10674 trades.

The stock hit an intraday high of Rs. 29 and intraday low of 27.65. The net turnover during the day was Rs. 246654321.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Speciality Restaurants Limited opens DARIOLE Kolkata

Hind Aluminium Industries Ltd FY18 PAT rises to Rs. 8.76 crores

Dhanlaxmi Bank Limited gets RBI nod for appointment of MD & CEO

V2 Retail Ltd opens its 61st store

SMS Lifesciences India Ltd receives EIR from USFDA for Unit-I

Wall Street Finance Ltd launches Digital Agent Platform

Nava Bharat Energy India Ltd schedules capital overhaul of 150 MW power plant

ENIL commences broadcast from Srinagar radio station

ICRA assigns rating to ANG Lifesciences India Ltd

ASM Technologies Ltd to invest 70% in RV Forms & Gears LLP

INOX Leisure Ltd commences operations of new multiplex at Cuttack

Dr. Reddy's Laboratories defends its right to launch Buprenorphine and Naloxone Sublingual Film in the U.S. Market

Container Corporation of India fixes June 27, 2018 as record date for stock split

Ujjivan Financial Services Ltd gets RBI approval for appointment of Mr. Ittira Davis as the MD & CEO

UFM Industries Ltd reports loss of Rs. 0.91 crore in Q4

Kanoria Chemicals & Industries Ltd receives environmental clearance for Formaldehyde plant at Naidupeta

Radio City launches Gig City Season 3

AGC Networks Ltd appoints Mr. Kaustubh Sonalkar as Non-Executive Additional Director

Hind Aluminium Industries Ltd board recommends dividend of Rs. 1.60 for 2017-2018

Tata Investment Corporation Ltd approves appointment of Mr. Suprakash Mukhopadhyay

Vadilal Dairy International Ltd FY18 PAT drops to Rs. 2.82 crores

Archit Organosys Ltd commences commercial production of Sodium MonoChloro Acelate

UP Government decides to re-invite bids for Purvanchal Expressway

Monte Carlo Fashions Ltd files civil suit against IPO of Montecarlo Limited

Panacea Biotec Ltd and Apotex group enter into Dispute Settlement Agreement with Celgene Corporation

SMS Pharmaceuticals Ltd announces resignation of Dr. Mihir K. Chaudhuri

Fiberweb India Ltd drops proposal to allot shares to New Horizon Opportunities Master Fund

Virat Industries Ltd reappoints Mr. Adi F Madan as MD

Gujarat Automotive Gears Ltd is now Him Teknoforge Limited

GTPL Hathway Ltd appoints CFO

Indo Amines Ltd receives environment clearance for plant

Sphere Global Services Ltd announces resignation of company secretary

TCS to buy back shares worth Rs. 16000 crores at Rs. 2100

Essel Propack Ltd assigned IND A1+ rating

Bajaj Electricals Ltd acquires Nirlep Appliances

Founder and Executive Chairman of Onward Technologies honored with lifetime achievement award

Vikas Proppant & Granite Ltd enters into niche market of Proppants

Seamec Ltd to scrap vessel REVELATION

Valiant Communications wins orders for Rs. 1256 lacs

JSPL's 6 MTPA Integrated Steel Plant to be dedicated to the Nation at Angul on June 16th 2018

B L Kashyap and Sons bags new projects worth Rs. 694 crores

Avanti Feeds Ltd fixes June 27, 2018 as record date for bonus, stock split

Karnataka Bank opens its Currency Chest Campus at Dongerkery, Mangaluru

NBCC India Ltd secures orders of Rs. 480.65 crores in May 2018

KG Petrochem Ltd appoints company secretary

Dhunseri Petrochem forms JV in Egypt with Indorama Ventures Public Company Limited

Mukta A2 Cinemas launches the newly acquired Suncity Multiplex

Alembic Pharmaceuticals Limited receives EIR from USFDA for Panelav facility

ICICI Bank files insolvency petition against Punj Lloyd

Dr. Reddy's Labs gets USFDA final approval for launch of generic version of Suboxone®



Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2018