Five things to watch out for today
Debt-ridden Reliance Communications will hold a meeting with its $300-million bondholders in London to seek approval for an asset monetisation proposal. The Anil Ambani company plans to make partia06-03-2018
06-03-2018
Reliance Communications - traders try to squeeze out profits as share price flattens out and regulators ramp up criticism
Large buys and sells in Reliance Communications indicate some players holding large numbers of shares in the company have been selling and buying back largely the same numbers of shares in an effort to earn some remaining profit, as the price of RCom stock continues to decline. These include the firms Shaastra Securities, Purity Trademax, as well as Adroit Share and Stock Broker. None of these firms have publicly available shareholding data. While RCom's share price is currently above where it was in December (when prices hovered in the Rs. 11 - Rs. 15 range), share price for the company has stagnated, as it has come under regulatory criticism for failing to pay back the remaining money from its subscribers, and also failing to disclose details of its deal with Reliance Jio. Neither RCom nor Reliance Jio have disclosed the valuation of the deal involving Jio's purchase of RCom's wireless assets. As some would say - it's all in the family. Minority shareholder HSBC Daisy Investments (Mauritius) approached the National Company Law Tribunal seeking redress, on details of RCom's deal with Mukesh Ambani's company. Reliance Infratel, RCom's telecom tower arm, has finally agreed to disclose deal details, on condition that these details cannot be made public to other shareholders.23-02-2018
RCom firm to provide Reliance Jio deal information to offshore investors
In a dispute between Reliance Infratel and its minority shareholders HSBC Daisy Investments, RCom has agreed to share details of the deal to sell off its assets to Reliance Jio20-02-2018
Shareholders okay RCom asset monetisation plan for servicing Rs 450-bn debt
The loss-making firm has stopped voice call services and is continuing operations of its business-to-business division17-02-2018
Disclosure of Voting results of Postal Ballot (Regulation 44(3) of SEBI (LODR) Regulations, 2015)
Reliance Communications Ltd has informed BSE regarding the details of Voting results of Postal Ballot, under Regulation 44(3) of SEBI (LODR) Regulations, 2015. Kindly Click here16-02-2018
Asset sale: RCom convenes meeting with bondholders on March 6
Debt-ridden Reliance Communications has convened a meeting of its $300 million bondholders on March 6 in London to seek approval for an asset monetisation proposal.13-02-2018
Reliance Communications Ltd reply to clarification sought by the exchange
The Exchange had sought clarification from Reliance Communications Ltd with respect to news appearing in www.financialexpress.com - February 6, 2018 titled "Trai slams Reliance Communications for refusing to refund consumers balance"Reliance Communications Ltd response is enclosed.12-02-2018