Reliance Communications is currently trading at Rs. 37.05, up by 0.80 points or 2.21% from its previous closing of Rs. 36.25 on the BSE.
The scrip opened at Rs. 36.45 and has touched a high and low of Rs. 38.15 and Rs. 36.25 respectively. So far 3109827 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 60.45 on 28-Apr-2016 and a 52 week low of Rs. 30.65 on 25-Jan-2017.
Last one week high and low of the scrip stood at Rs. 38.15 and Rs. 33.80 respectively. The current market cap of the company is Rs. 9209.23 crore.
The promoters holding in the company stood at 59.09%, while Institutions and Non-Institutions held 25.59% and 15.33% respectively.
Reliance Communications (RCom) has received approval of the Securities and Exchange Board of India (SEBI), Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) for the proposed Scheme of Arrangement for demerger of the Wireless division of the Company into Aircel and Dishnet Wireless (the Scheme).
Pursuant to the same, RCom has filed an application with National Company Law Tribunal (NCLT), Mumbai Bench, for approval of the said Scheme. The proposed transaction is subject to other necessary approvals.
Post closing, the company and the present shareholders of Aircel will hold 50% each in Aircel.