Telecom stocks fell after Mukesh Ambani extended Reliance Jio’s free offers till March 2017. In a volatile trade, benchmark indices pared gains to settle on a lower note after initial rally dragged by telecom, banking and metal indices. India’s GDP, announced yesterday, grew lower than expected in the September quarter at 7.3% also affected the sentiment. Swinging between gains and losses, Sensex rose as much as 143 points during intra-trade before falling over 100 points while ... Rediff.com, 2 days ago
Reliance Communications Ltd (RCom) on Friday announced the sale of 51 per cent stake in its telecom tower business to Canada-based Brookfield Infrastructure Group, for an upfront cash payment of Rs 11,000 crore. ‘RCom will receive an upfront cash payment of Rs 11,000 crore from the proposed transaction. RCom will also enjoy 49 per cent future economic upside from the towers business, based on certain conditions,’ the company said in a statement. RCom plans to utilise the sale ...Rediff.com, 1 month ago
Market breadth turned negative with 1,779 declines over 884 advances on the BSE The benchmark indices on Friday settled the day lower as auto makers dropped on sharp decline in monthly sales and stocks of telecom service providers - Bharti Airtel, Idea Cellular, Reliance Communications (RCom) - were hit by worries about intensifying competition with the extension of freebies offered by Reliance Jio (RJio) till March 2017. Sentiment was also muted ahead of the release of the US monthly jobs ...Rediff.com, 22 hours ago
Ambani said, in the telecom space, the focus will be on debt reduction, and the virtual merger did away with the need for major capex and will help towards this Anil Ambani, chairman of the Reliance group, said on Tuesday that he was working with his brother, Mukesh Ambani, to realise their father’s dream and Reliance Communications’ association with Mukesh-led Reliance Jio has accomplished a virtual merger. He was addressing shareholders at the annual general meetings of RCom, ...Rediff.com, 2 months ago
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