RCom gains after repaying ECB loan

The announcement was made during trading hours today, 10 May 2013.

Meanwhile, the BSE Sensex was up 130.83 points, or 0.66%, to 20,069.87.

On BSE, 52.42 lakh shares were traded in the counter as against an average daily volume of 51.74 lakh shares in the past one quarter.

The stock hit a high of Rs 112.70 and a low of Rs 108.90 so far during the day. The stock had hit a 52-week high of Rs 113.90 on 7 May 2013. The stock had hit a 52-week low of Rs 46.60 on 30 August 2012.

The stock had outperformed the market over the past one month till 9 May 2013, rising 70.08% compared with the Sensex's 9.40% rise. The scrip had also outperformed the market in past one quarter, gaining 45.78% as against Sensex's 2.33% rise.

The large-cap telecom firm has an equity capital of Rs 1032.01 crore. Face value per share is Rs 5.

Reliance Communications (RCom) today, 10 May 2013, made full repayment of a syndicated ECB loan facility of $500 million (over Rs 2700) on the due date. The loan was taken in 2007 from a group of international bank, RCom said in a statement.

According to recent reports, RCom increased voice call prices on some of its plans by about 20% and cut promotional offers and discounts on some others by up to 65%.

On 22 April 2013, RCom announced that Samena Capital in a proposed consortium with certain other global PE funds is at an advanced stage of the process of due diligence and completion of definitive documents in relation to the acquisition of the company's global communications services business unit -- Reliance Globalcom. The intended time line for completion of the transaction is end May 2013. At this point, there can be no certainty that this will lead to a transaction, RCom said. A further announcement will be made in due course, if and when appropriate, the company added.

RCom also said that it has discontinued discussions with Batelco Group for selling its sake in Reliance Globalcom. RCom had earlier said in March 2013 that it was in discussions with Batelco Group with respect to Reliance Globalcom.

RCom's consolidated net profit dropped 43.5% to Rs 105 crore on 1.3% growth in net sales to Rs 4797 crore in Q3 December 2012 over Q3 December 2011. The company will announce its year ended 31 March 2013 results (FY 2013) on Friday, 10 May 2013.

RCom has established a pan-India, high-capacity, integrated (wireless and wireline), convergent (voice, data and video) digital network, to offer services spanning the entire infocomm value chain.

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