Reliance Communications demerger; stock gains
DSIJ Intelligence / 15 Mar 2017
.jpg)
The stock prices of Reliance Communications surged by 5.2 per cent intraday on Wednesday, March 15, 2017 on getting approval from SEBI, BSE and NSE for the demerger of its wireless division.
Owing to a proposed demerger of its wireless division, the stock prices of Reliance Communications surged by 5.2 per cent intraday on Wednesday, March 15, 2017 on getting approval from SEBI, BSE and NSE.
Reliance Communications had sought approval from the Security and Exchange Board of India (SEBI), Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) of India for the demerger of the wireless division of the company into Aircel and Dishnet Wireless.
Subject to a series of approvals before implementation, the company also filed an application seeking approval from the National Company Law Tribunal (NCLT).
As a consequence of the demerger, Reliance Communications' shareholders will hold 50 per cent share in Aircel, while the rest will be owned by the Aircel shareholders.
On the stock market, Reliance Communications is trading at Rs 37.10, up by 2.34 per cent on BSE; while the stock is up by 2.34 per cent to Rs 37.20 on NSE.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.