RCom jumps as TDSAT accepts its petition for granting additional 1.8 MHz airwaves

12 Jun 2012 Evaluate

RCom is currently trading at Rs. 66.95, up by 1.55 points or 2.37% from its previous closing of Rs. 65.40 on the BSE.

The scrip opened at Rs. 65.50 and has touched a high and low of Rs. 67.25 and Rs. 65.10 respectively. So far 1897010 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 109.70 on 22-Feb-2012 and a 52 week low of Rs. 61.00 on 20-Dec-2011.

Last one week high and low of the scrip stood at Rs. 67.75 and Rs. 62.45 respectively. The current market cap of the company is Rs. 13622.58 crore.

The promoters holding in the company stood at 67.86% while Institutions and Non-Institutions held 16.72% and 15.04% respectively.

Anil Ambani owned Reliance Communications (RCOM) filed petition to telecom tribunal (TDSAT), claiming that government must award the company an additional 1.8 MHz of airwaves across the country at no additional cost before carrying new 2G auction, has been accepted and the same has been escalated to telecom department.

Last week, a panel of ministers headed by Finance Minister Pranab Mukherjee decided to sell up to 13.75 MHz of spectrum in the 1800 MHz band in the upcoming auctions, raising the possibility of two mobile phone companies winning back their cancelled permits.

The Empowered Group of Minister meet in the previous week, decided to sell up to 13.75 MHz of spectrum in the 1800 MHz band in the upcoming auctions, which would enable at least two operators to win back their cancelled permits. The Supreme Court had quashed licences of nine operators in February and directed the government to issue fresh permits through an auction process.

Reliance Comm Share Price

1.48 0.00 (0.00%)
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