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Reliance Communications Ltd (RLCM.NS)

RLCM.NS on National Stock Exchange of India

17 Nov 2017
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Rs0.40 (+3.42%)
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Latest Key Developments (Source: Significant Developments)

Reliance Communications signs MOU to sell its DTH business​
Monday, 6 Nov 2017 06:20am EST 

Nov 6 (Reuters) - Reliance Communications Ltd :Says ‍enters into binding MOU to sell 100% equity in non core DTH business​.Says MOU with Veecon Media And Television Limited, for sale of subsidiary Reliance Big Tv Limited (RBTV)‍​.Veecom Media & Television Limited will take over all of Reliance Big TV's trade and contingent liabilities.Says 500 employees of Reliance Big TV limited will be retained by Veecom Media & Television Limited.  Full Article

India telecom regulator asks Reliance Telecom to furnish reasons for disruption of 2G services
Wednesday, 1 Nov 2017 08:51am EDT 

Nov 1 (Reuters) - Telecom Regulatory Authority of India::Asks Reliance Telecom Ltd to furnish reasons for disruption of 2G services in different licensed service areas‍​.Asks reliance to issue and communicate unique porting code to subscribers through SMS immediately‍​.Asks Reliance Telecom Ltd to furnish compliance to authority by Nov 6.  Full Article

Fitch says ratings on RCom, GCX unaffected by RCom debt revamp plan
Tuesday, 31 Oct 2017 10:28pm EDT 

Oct 31 (Reuters) - :Fitch: ratings on RCom, GCX unaffected by RCom debt revamp plan.Fitch - expect RCom to gradually exit from wireless voice business and significantly scale down its operations due to intense competition.Fitch - expect restructuring to transform RCom from an integrated telecom company to a business-to-business bandwidth services provider.Fitch - ‍expect GCX's end-September 2017 cash balance to fall closer to USD 40 million​.  Full Article

Reliance Communications exec says co presented zero loan write off plan to lenders‍​
Monday, 30 Oct 2017 08:00am EDT 

Oct 30 (Reuters) - Reliance Communications executive director Punit Garg says::Rcom presented zero loan write off plan presented to lenders‍​.Co also presented plan of debt conversion into equity of 71 billion rupees.Says presented a 170 bln rupees debt repayment plan out of asset monetisation​.Additional 100 billion rupees to be raised through sale of commercial development.Rcom to retain debt of 60 billion rupees after repayment restructure.Co has plans to monetise one million sq feet of real estate assets.Co got interest from 10 real estate developers to build 17 million sq feet of integrated it township in Navi Mumbai.Co plans to lower cost of capital with 50 percent of debt at low cost foreign loan.  Full Article

RCom says 4G strategy to be executed via spectrum sharing, intracircle roaming with Jio
Wednesday, 25 Oct 2017 08:26am EDT 

Oct 25 (Reuters) - Reliance Communications Ltd :Says ‍decided to adopt 4G-focussed strategy for profitable growth of its wireless business​.Co will be optimizing its 2G and 3G footprint, related infrastructure and human resources, w.e.f Nov 30.Reliance communications says 4G strategy to be executed through spectrum sharing and intracircle roaming with Reliance Jio.  Full Article

Reliance Communications gets final approval from DoT for demerger of wireless business of Sistema Shyam Teleservices
Monday, 23 Oct 2017 07:14am EDT 

Oct 23 (Reuters) - Reliance Communications Ltd :Gets final approval from DoT for demerger of wireless business of Sistema Shyam Teleservices Limited into co.SSTL business in India to be carried on under MTS brand ‍​.Says closure of deal is expected by first week of November 2017‍​.  Full Article

India's National Co Law Tribunal to hear RCom, Ericsson case on Nov. 8
Friday, 6 Oct 2017 01:05am EDT 

Oct 6 (Reuters) - :India's National Company Law Tribunal says to hear Reliance Communications <<>>, Ericsson case on Nov. 8.  Full Article

Reliance Communications files application for withdrawal of scheme of demerger of tower business
Wednesday, 4 Oct 2017 08:46am EDT 

Oct 4 (Reuters) - Reliance Communications Ltd :Says application for withdrawal of scheme of demerger of tower business under RITL been filed as on 3 October ​.Says RITL tower demerger scheme shall, in due course, be taken up for application with the required changes ‍​.  Full Article

Reliance Communications welcomes reduction in IUC by TRAI‍​
Wednesday, 20 Sep 2017 03:32am EDT 

Sept 20 (Reuters) - Reliance Communications Ltd ::Says "we welcome the reduction in IUC to 6 paise by TRAI"‍​.Says "with voice calling becoming free, TRAI's move will provide a level playing field".  Full Article

Reliance Communications says Ericsson India files petition against co for recovery of 4.91 bln rupees
Wednesday, 13 Sep 2017 08:09am EDT 

Sept 13 (Reuters) - Reliance Communications::Reliance Communications clarifies on news item "Ericsson India files insolvency case against Reliance Communication" ‍​.Ericsson India Pvt Ltd filed petition against co for recovery of 4.91 bln rupees.Ericsson filed petitions against Reliance Infratel, Reliance Telecom for recovery of 5.35 billion rupees, 1.29 billion rupees, respectively‍​.  Full Article

Moody's withdraws RCom's credit rating after missed payment

MUMBAI, Nov 18 Rating agency Moody's said on Friday it has withdrawn its credit rating on Reliance Communications, as it considers the Indian telecom operator to be in default for missing an interest payment on its bonds that was due last week.