RCOM completes due diligence for merger with Russia's Sistema; stock up 1%

The two companies will meet early next month to finalise the merger and the swap ratio, says report.

Reliance Communications stock is up by 1% at Rs. 76. Report says that the company has completed the due diligence for merger with Russia's Sistema Shyam Teleservices.

The two companies will meet early next month to finalise the merger and the swap ratio, says report.

The scrip opened at Rs. 76.5 and has touched a high and low of Rs. 77.05 and Rs. 75.85 respectively. So far 2486783(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 18953.58 crore.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 117.4 on 18-Nov-2014 and a 52 week low of Rs. 45.65 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 77.45 and Rs. 68.65 respectively.

The promoters holding in the company stood at 59.7 % while Institutions and Non-Institutions held 29.21 % and 10.74 % respectively.

The stock is currently trading below its 200 DMA.