RCom surges after large bulk deal

Reliance Communications jumped 6.98% to Rs 62.10 at 14:07 IST on BSE after 1.69% equity changed hands in a bulk deal on BSE today, 26 June 2015.

A bulk deal of 4.22 crore shares was struck on the Reliance Communications (RCom) counter at Rs 56.85 per share at 12:04 IST on BSE today, 26 June 2015.

Meanwhile, the BSE Sensex was down 64.90 points, or 0.23%, to 27,831.07

Bulk deal boosted volume on the RCom scrip. On BSE, so far 4.72 crore shares were traded in the counter, compared with an average volume of 16.43 lakh shares in the past one quarter.

The stock hit a high of Rs 63.30 and low of Rs 56.80 so far during the day. The stock hit a 52-week high of Rs 153.25 on 25 June 2014. The stock hit a 52-week low of Rs 54.50 on 3 June 2015.

The stock had underperformed the market over the past one month till 25 June 2015, falling 9.3% compared with 0.91% rise in the Sensex. The scrip also underperformed the market in past one quarter, falling 5.07% as against Sensex's 0.77% fall.

The large-cap company has an equity capital of Rs 1244.49 crore. Face value per share is Rs 5.

On a consolidated basis, net profit of Reliance Communications (RCom) rose 46.2% to Rs 228 crore on 5.8% increase in net sales to Rs 5683 crore in Q4 March 2015 over Q4 March 2014.

RCom is an integrated telecommunications service provider. The company has a customer base of over 118 million including over 2.6 million individual overseas retail customers.

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