RCOM shines on inking definitive agreement with Reliance Jio Infocomm

03 Apr 2013 Evaluate

Reliance Communications is currently trading at Rs 66.90, up by 3.60 points or 5.69% from its previous closing of Rs 63.30 on the BSE.

The scrip opened at Rs 68.90 and has touched a high and low of Rs 69.00 and Rs 66.40 respectively. So far 3081974 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs 91.85 on 22-Jan-2013 and a 52 week low of Rs 46.60 on 30-Aug-2012.

Last one week high and low of the scrip stood at Rs 69.00 and Rs 50.40 respectively. The current market cap of the company is Rs 13065.29 crore.

The promoters holding in the company stood at 67.86%, while Institutions and Non-Institutions held 17.10% and 14.74% respectively.

Reliance Communications (RCOM), India's fully integrated telecommunications service provider, has inked a definitive agreement with Reliance Jio Infocomm for approximately Rs 1,200 crore as one time indefeasible right to use (IRU) fees for sharing its nationwide inter-city fiber optic network infrastructure. Under the terms of the agreement, Reliance Jio Infocomm will utilize multiple fiber pairs across RCOM’s 120,000 kilometres inter-city fiber optic network to provide a robust and future-proof backbone for rolling out its state-of-the-art 4G services.

As per the agreement, Reliance Communications will in turn have reciprocal access to optic fiber infrastructure to be built by Reliance Jio Infocomm in the future. The agreement provides for joint working arrangements to be put in place immediately for up-gradation of the optic fiber network, to ensure seamless delivery of next generation services.

This agreement is the first in an intended comprehensive framework of business co-operation between Reliance Jio Infocomm and Reliance Communications to provide for optimal utilization of the existing and future infrastructure of both companies on reciprocal basis, including inter alia, inter-city fiber, intra-city fiber, towers and related assets.

Reliance Comm Share Price

1.52 -0.03 (-1.94%)
30-Apr-2025 16:59 View Price Chart
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