Reliance Communications repurchases bonds worth US$5 million

Reliance Communications Ltd has announced that in terms of the existing regulations of the Reserve Bank of India, the Company has repurchased 50, Zero Coupon FCCBs each of US $ 1,00,000 aggregating Rs 25.26 crore approx. (US $ 5 Million) at a discount, and the same is expected to be extinguished on April 15, 2009.

The stock closed on Monday at Rs.219.20, up by Rs.7.40 or 3.49%. The stock hit an intraday high of Rs.224 and low of Rs.213.

The total traded quantity was 4284975 compared to 2 week average of 4662325.

Source : Equity Bulls

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