RCOM stock down 3%; company to invest US$80 mn in new data centres

The company is planning to invest US$80 mn in building two new data centres and expand two existing ones.

RCOM stock was down by 3% at Rs. 79. Report says that the company is planning to invest US$80 mn in building two new data centres and expand two existing ones. 

“We are looking at building two new data centres and expansion of two existing data centres. So the overall investments would be about US$80 million over the next 2-3 years,” CEO of RCOM's Enterprise and Global Cloud Xchange Bill Barney.

Reliance Communications Ltd is currently trading at Rs. 80, down by Rs. 1.95 or 2.38% from its previous closing of Rs. 81.95 on the BSE.

The scrip opened at Rs. 81.9 and has touched a high and low of Rs. 82.35 and Rs. 79.95 respectively. So far 2275511(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 20397.19 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. 83.6 and Rs. 74.8 respectively.

The promoters holding in the company stood at 59.7 % while Institutions and Non-Institutions held 29.58 % and 10.3 % respectively.

The stock is currently trading below its 50 DMA.