RCom surges 5% owing to its long-term debt-reduction plan
DSIJ Intelligence / 10 Jul 2017
The Reliance Communications Limited’s shares surged by over 5 per cent to Rs 23.90 after the company presented a long-term debt reduction plan to its lenders which include sale of real estate, under-sea cable assets and its DTH business.
The Reliance Communications Limited’s shares surged by over 5 per cent to Rs 23.90 after the company presented a long-term debt reduction plan to its lenders which include sale of real estate, under-sea cable assets and its DTH business.
The plan is likely to retire the company’s debt by about 60 per cent till September and about 80 per cent by December. The Reliance Communications Limited is also looking to raise Rs 11,000 crore via monestising key properties in Mumbai and Delhi.
On July 10,2017, RCom was trading at Rs 23.90, up by 5.49 per cent on BSE at 1047 hours. On Monday’s trading session, it opened at Rs 23 while on Friday it closed at Rs 22.75. It touched its intraday high at Rs 24.60 and low at Rs 22.95. The 52-week high and low of the company stood at Rs 55.40 and Rs 17.80 respectively.
S&P BSE Telecom index was trading at 1362.98, up by 1.65 per cent.
On YTD basis, the company generated a negative return of 33.04 per cent while S&P BSE Telecom index YTD deliver a negative return of 4.34 per cent.
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