Ambani saga: Two billionaire bros, two bonds, two very different fates
Ambani saga: Two billionaire bros, two bonds, two very different fatesMukesh Ambani's Reliance Industries perpetuals have earned investors juicy coupons with little risk. Anil Ambani-led RCom's note have defaulted. Moody's withdraws RCom's credit rating
Earlier in November, RCom signed a deal to sell its non-core direct-to-home business. Credit Rating
Moody's Investors Service - withdrawn rating of the Company and Senior Secured Notes (Bonds). RCom, Aircel accuse Big 3 telcos of poaching subscribers via misleading campaigns
RCom, Aircel accuse Big 3 telcos of poaching subscribers via misleading campaignsAircel and RCom, struggling to stay afloat after their merger attempts fell through recently, have complained to DoT and Trai, seeking action against the Big 3. RCom arm GCX sends Cease & Desist' notice to competitors
Company accuses rivals of spreading misinformation RCom falls as operator makes no payment to lenders
In a regulatory filing, the telecom operator said that is in standstill period till December 2018 pursuant to the SDR. All 7 Anil Ambani group stocks hammered as Rcom fails on interest payment
Investor sentiment has turned sour towards Anil Ambani group company stocks after telecom company Reliance Communications (RCom) defaulted on interest payment. The seven listed companies belonging to the group fell as much as 12 per cent on Wednesday as investors feared spillover of the RCom crisis to others. RCom, which has failed to pay a coupon on its 2020 dollar notes, has seen its share price erode by 41 per cent this month and 70 per cent in 2017. Once the second-largest telecom company, it struggles with debt of Rs 49,000, amid depleting revenue. "A solution doesn't seem in sight. Assets are depleting, while debt is mounting," said S P Tulsian, an independent research analyst. "Investor sentiment has turned negative towards all group companies after RCom's default. And, debt of other group companies is also mounting."Shares of Reliance Infrastructure fell 9.2 per cent, extending its monthly loss to 17 per cent. The company, which operates a power utility in Mumbai, has debt of . Clarifies on news item
With reference to news appeared in www.business-standard.com dated November 15, 2017 quoting "NCLAT issues notice to RCom over Manipal Technologies 'dues", Reliance Communications Ltd has submitted to BSE a copy of Clarification is enclosed. 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 financialexpress.com on November 15, 2017 titled "RCom future turns bleaker as Anil Ambani firm defaults on US dollar bonds." Reliance Communications Ltd informed that they had informed both the Stock Exchanges on 6th November 2017 about non-payment of interest on Bonds. The copy of the same is enclosed. 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 financialexpress.com on November 15, 2017 titled "RCom future turns bleaker as Anil Ambani firm defaults on US dollar bonds." Reliance Communications Ltd informed that they had informed both the Stock Exchanges on 6th November 2017 about non-payment of interest on Bonds. The copy of the same is enclosed.