Reliance Communications Limited has announced that the board of Directors at its meeting held on June 24, 2016 approved a Scheme of Arrangement between the Company and Reliance Telecom Limited.
Reliance Communications Limited has announced that the board of Directors at its meeting held on June 24, 2016 approved a Scheme of Arrangement between the Company and Reliance Telecom Limited (RTL), a wholly owned subsidiary of the Company, for demerger of telecom undertaking consisting of 5 license service area of RTL into the Company, subject to requisite approvals.
Reliance Communications Limited has announced that the board of Directors at its meeting held on June 24, 2016 approved a Scheme of Arrangement between the Company and Reliance Telecom Limited (RTL), a wholly owned subsidiary of the Company, for demerger of telecom undertaking consisting of 5 license service area of RTL into the Company, subject to requisite approvals.
Reliance Communications Ltd ended at Rs. 47.2, down by Rs. 2.5 or 5.03% from its previous closing of Rs. 49.7 on the BSE.
The scrip opened at Rs. 48.1 and touched a high and low of Rs. 48.1 and Rs. 45.55 respectively. A total of 48283894(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 11747.98 crore.
The BSE group 'A' stock of face value Rs. 5 touched a 52 week high of Rs. 91.8 on 01-Jan-2016 and a 52 week low of Rs. 45.55 on 24-Jun-2016. Last one week high and low of the scrip stood at Rs. 50.45 and Rs. 45.55 respectively.
The promoters holding in the company stood at 58.85 % while Institutions and Non-Institutions held 28.77 % and 11.09 % respectively.
The stock traded below its 200 DMA.
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