RCom gains on entering into tripartite agreement with TTSL, Aircel

Reliance Communications is currently trading at Rs. 132.25, up by 0.40 points or 0.30% from its previous closing of Rs. 131.85 on the BSE. The scrip opened at Rs. 132.20 and has touched a high and low of Rs. 133.90 and Rs. 130.20 respectively. So far 4,76,000 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 164.45 on 20-Sep-2013 and a 52 week low of Rs. 91.45 on 29-Apr-2013. Last one week high and low of the scrip stood at Rs. 134.60 and Rs. 130.20 respectively. The current market cap of the company is Rs. 27,327.00 crore. The promoters holding in the company stood at 67.80% while Institutions and Non-Institutions held 20.82% and 11.11% respectively. Reliance Communications (RCom) has entered into a tripartite agreement with Tata Teleservices (TTSL) and Aircel to provide 3G roaming services to each others' customers using their network across country.  The company and Aircel have permits for 3G services in 13 out of 22 service areas while Tata Teleservices has permit in 9 circles. RCom circles comprise Delhi, Mumbai, Kolkata, Punjab, Rajasthan, Madhya Pradesh, West Bengal, Himachal Pradesh, Bihar, Orissa, Assam, North East, Jammu & Kashmir. With this agreement, company gets access to 5 uncommon service areas - Andhra Pradesh, Karnataka, Tamil Nadu, Kerala and UP East,  where Aircel has presence, while its agreement with TTSL gives it access to Maharashtra, Gujarat, Haryana and UP west. RCom is India’s foremost and truly integrated telecommunications service provider. The company, with a customer base of about 150 million, including over 2.5 million individual overseas retail customers, ranks among the Top 4 Telecom companies in the world by number of customers in a single country.