Reliance Communications Repurchases FCCBs worth US$ 10 million at discount

Reliance Communications Ltd has announced that in terms of approval received from Reserve Bank of India, the Company has repurchased 100, Zero Coupon FCCBs each of US $ 1,00,000 aggregating Rs 48.77 crore approx. (US $ 10 Million) at a discount, and has extinguished the same on January 21, 2009.

The stock closed the day at Rs.167.70, down by Rs.2.35 or 1.38%. The stock hit an intraday high of Rs.175.80 and low of Rs.164.20.

The total traded quantity was 3307675 compared to 2 week average of 4772673.

Source : Equity Bulls

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