Shares of Reliance Communications fell sharply on Monday and ended nearly 35 per cent lower after the company decided to opt for insolvency proceedings following its failure to sell assets for paying back its lenders. RCom shares plummeted 34.91 per cent to close at Rs 7.55 on BSE. Intra-day, it nosedived 48.27 per cent to Rs 6 -- its record low. At NSE, shares tumbled 34.91 per cent to close at Rs 7.55. The company's market valuation plunged Rs 1,120.02 crore to Rs 2,087.98 crore on BSE..
Shares of Reliance Communications fell sharply on Monday and ended nearly 35 per cent lower after the company decided to opt for insolvency proceedings following its failure to sell assets for paying back its lenders. RCom shares plummeted 34.91 per cent to close at Rs 7.55 on BSE. Intra-day, it nosedived 48.27 per cent to Rs 6 -- its record low. At NSE, shares tumbled 34.91 per cent to close at Rs 7.55. The company's market valuation plunged Rs 1,120.02 crore to Rs 2,087.98 crore on BSE.
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Streaming firm Roku’s shares decline after revelation of 26% of its cash held with SVB #shortsvideo
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The Supreme Court on Monday sought the response from Reliance Communications (RCOM) Chairman Anil Ambani on a contempt plea by telecom company Ericsson for its failure to pay outstanding dues of about Rs 550 crore.
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Sensex drops nearly 150 pts, Nifty falls below 10,850; RCom plunges 50%, DHFL drops 10%
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SC holds Anil Ambani guilty of contempt, orders RCom to pay Ericsson
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Just days ahead of the expiry of the Supreme Court deadline to Anil Ambani to pay Ericsson dues, the NCLAT Friday refused to direct State Bank of India to release Rs 259 crore of income tax refund for making such payment, saying it does not has jurisdiction to do that.
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Reliance Communications (RCom) has completed paying Swedish telecom gear maker Ericsson nearly Rs 580 crore, thereby ensuring the telco’s chairman Anil Ambani does not go to jail. With Monday’s payment of Rs 462 crore, the debt-laden telco ends its 18-month long battle with Ericsson which had claimed dues for its maintenance services. The deadline for RCom to make the payment was March 19, failing which Anil Ambani would have had to serve a jail term of three months.
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Nifty futures on the Singapore Exchange were trading 13.50 points, or 0.12 per cent, higher at 11,575, indicating a positive start for Dalal Street. Here are a few stocks which may buzz the most in today’s trade
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Jio की बड़ी खुशखबरी : 2 January 2019 को आई Good News, 28 June 2019 तक बढ़ गई Reliance Jio RCom Deal
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Reliance Communications (RCom) and Reliance Jio Infocomm (Jio) have extended till June 28 the term of the pact under which the Anil Ambaniowned company will sell some wireless assets to the telco owned by elder brother Mukesh, aiming to quash talk that the agreement was dead.
“Reliance Jio lnfocomm Ltd, a subsidiary of Reliance Industries Ltd, extended the term of the definitive agreement for the acquisition of specified assets of Reliance Communications Ltd and its affiliates to 28th June 2019,” Jio said in a regulatory filing on Monday.
In a separate but similar filing, RCom said that the two operators have extended the “validity of the agreements signed on 28th December 2017 for sale of towers, fiber, MCNs (media convergence nodes) and spectrum of RCom and its affiliates to 28th June 2019.” That’s a sixmonth extension from the original deadline of December 28.
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