Reliance Communications shines 2%; signs term sheet with Brookfield

India Infoline News Service | Mumbai | October 14, 2016 14:38 IST

RCOM will receive an upfront cash payment of Rs. 11,000 crore from the proposed transaction.

Reliance Communication
Reliance Communications Ltd is currently trading at Rs 47.6, up by Rs 0.9 or 1.93% from its previous closing of Rs 46.7 on the BSE. The company announced the signing of a non-binding Term Sheet with Brookfield Infrastructure Group (Brookfield) in relation to the proposed acquisition of RCOM’s nationwide tower assets and related infrastructure by Brookfield.

The scrip opened at Rs 46.7 and has touched a high and low of Rs 48.4 and Rs 46.2 respectively. So far 20397010 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 11623.54 crore.

The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs 91.8 on 01-Jan-2016 and a 52 week low of Rs 42.1 on 29-Sep-2016. Last one week high and low of the scrip stood at Rs 48.45 and Rs 45.8 respectively.

The promoters holding in the company stood at 58.85 % while Institutions and Non-Institutions held 25.46 % and 14.42 % respectively.

The stock is currently trading below its 200 DMA.

***Note: This is a NSE Chart

 

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