RCOM gains on entering into long term billion dollar contract with Alcatel-Lucent

Reliance Communications (RCOM) is currently trading at Rs. 81.50, up by 0.55 points or 0.68% from its previous closing of Rs. 80.95 on the BSE.

The scrip opened at Rs. 81.20 and has touched a high and low of Rs. 81.75 and Rs. 80.75 respectively. So far 2,97,000 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 and a 52 week low of Rs. 46.60.

The current market cap of the company is Rs. 16,821.00 crore.

The promoters holding in the company stood at 67.86% while Institutions and Non-Institutions held 16.63% and 15.12% respectively.

Reliance Communications, India’s fully integrated telecommunications service provider and Alcatel-Lucent has entered into a first-of-its-kind, end-to-end network managed services contract aimed at delivering superior customer experience in Eastern and Southern India up to 2020. The contract which extends RCOM’s existing relationship with Alcatel-Lucent’s for over $1 billion, will deliver world-class, seamless voice and data communications services to RCOM customers.

This is India’s first fully integrated strategic agreement and one of just-a-few globally, to meet the fast evolving customer demand for communications applications and services in one of the world’s most dynamic telecom markets.

Alcatel-Lucent will enhance Reliance Communication’s operations, and synergize hitherto independent wireless and wireline teams to form a single network management organization. This optimized integration of resources will help Reliance Communications to strengthen its focus on growing its business, with top-of-the-line services to customers. Alcatel-Lucent also will drive a standardization of the tools, processes and best practices that are applied across RCOM’s businesses.

This strategic agreement will give RCOM the unique capability to proactively assure a high quality and consistent experience for customers regardless of device or type of connection. To enable the new model, Alcatel-Lucent will set up and operate next-generation OSS (operations support systems) and introduce advanced real-time optimization tools to improve network performance across Reliance’s wireless, wireline, long-distance, fiber and utilities’ functions.

RCOM and Alcatel-Lucent will work together to create the pathway required by the emerging demands for data-driven and multiple device-led usage of communication solutions and applications by Indian telecom customers.