RCom gains on launch of free national roaming offer

Reliance Communications rose 1.49% to Rs 153.40 at 10:58 IST on BSE after the company announced the launch of One India, One Rate Plans, a first-of-its-kind free National Roaming offer for post-paid and pre-paid GSM customers.

The announcement was made during market hours today, 9 June 2014.

Meanwhile, the S&P BSE Sensex was up 194.02 points or 0.76% at 25,590.48.

On BSE, so far 6.12 lakh shares were traded in the counter as against average daily volume of 13.73 lakh shares in the past one quarter.

The stock hit a high of Rs 154 and a low of Rs 152 so far during the day. The stock hit a 52-week high of Rs 164.45 on 20 September 2013. The stock hit a 52-week low of Rs 100.55 on 23 May 2013.

The stock had outperformed the market over the past one month till 6 June 2014, surging 28.69% compared with the Sensex's 12.83% rise. The scrip had also outperformed the market in past one quarter, jumping 32.82% as against Sensex's 18.05% rise.

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

Under the free national roaming offer, there will be no difference between local, STD and roaming charges and customers will be charged only their Home Plan tariffs, even while roaming anywhere in India, Reliance Communications (RCom) said in a statement.

Mr Gurdeep Singh, CEO, Consumer Business, Reliance Communications said, "As India's youngest pan-India GSM operator, we are committed to improving the quality of our customer mix, and the One India, One Rate Plans will help us attract customers in the high-value Corporate and SME roaming segments. RCom's One India, One Rate Plans will help us break down the tarrif barriers and extend unprecedented benefits to our roaming customers".

On a consolidated basis, RCom's net profit fell 48.5% to Rs 156 crore on 7.7% growth in net sales to Rs 5371 crore in Q4 March 2014 over Q4 March 2013.

RCom is an integrated telecommunications service provider. The company has customer base of about 120 million including over 2.5 million individual overseas retail customers. RCom's corporate clientele includes over 39,000 Indian and multinational corporations including small and medium enterprises and over 830 global, regional and domestic carriers.

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