Anil Ambani-controlled Reliance Communication Ventures Ltd has become an over Rs 90,000 crore (Rs 900 billion) company going by the conversion price of its just concluded Foreign Currency Convertible Bonds.
Anil Dhirubhai Ambani Group's market capitalisation increased to Rs 86,000 crore (Rs 860 billion) following the listing of the group company -- Reliance Communication Ventures Ltd (RCoVL).
RCom intends to utilise the proceeds of the proposed transaction to reduce its debt.
CDMA mobile operator Reliance Communication on Wednesday reduced international calling rates upto 66 per cent for consumers using global calling cards of different denominations.
MindSquare Technologies is a group company of 1neoteric Technology.
Reliance Communication Ventures on Monday got listed at the Bombay Stock Exchange opening strongly at Rs 290 a share.
The apex court said Ambani and the others will have to purge contempt by paying Rs 453 crore to Ericsson in four weeks. A bench comprising Justices R F Nariman and Vineet Saran said if the 'contemnors' failed to make the payments within the specified period, they will undergo a jail term of three months.
Reliance Communication Inc (USA), owned by Reliance Group, has acquired licence for setting up telecom network in US and UK, a move which will bring down the cost of international long distance calls substantially.
RCom and Aircel have permits for 3G services in 13 out of 22 service areas while Tata Teleservices has permit in 9 circles.
RCom may get around Rs 4,500 crore by trading its radiowaves to Reliance Jio.
Mukesh Ambani's Reliance Jio, however, continued to add wireless subscribers
Anil Ambani group company Reliance Communications on Monday posted a net profit after tax at Rs 8.45 crore (Rs 84.5 million) for the quarter ended June 30, 2006.
The company is looking at demerger of land banks from RCom and then go for separate listing.
Although the industry is disappointed with the government decision not to lower spectrum prices at a time telcos are saddled with over Rs 4-trillion debt and an estimated Rs 1.43-trillion licence fee dues, the DCC has relaxed the payment structure to offer some relief to the financially stressed sector.
The total number of telephone connections in the country crossed the record one billion mark in May, bolstered by growth in number of mobile users.
Indian telecom seems to be getting back on its feet.
Telecom major Bharti Airtel led the growth in segment with net addition of 1.31 million subscribers.
Facebook Inc is launching an open platform for online content and application developers to join its Internet.org service.
RCom has also tied-up with select credit card providers for its latest offering.
In the Sensex kitty, ITC turned star performer by surging 2.45 per cent, followed by NTPC rising 2.19 per cent.
Telecom operator Vodafone has been the top gainer of customers through mobile number portability facility while Reliance Communications is the biggest loser.
In a meeting on Thursday evening, the RCom management, led by CEO Punit Garg, requested the bank representatives to release Rs 260 crore it received as I-T refund so that it could repay the dues to Ericsson.
Idea may have to shell out Rs 4,500 crore in cash
Deal to help RCom reduce debt, Sun gain subscribers in new markets
The company has increased the cost of 1 GB of 3G internet usage to Rs 156 from Rs 123 it charged earlier.
Reliance Communications Ltd (RCom) on Friday announced the sale of 51 per cent stake in its telecom tower business to Canada-based Brookfield Infrastructure Group, for an upfront cash payment of Rs 11,000 crore.
Under the UASL norms, spectrum is linked to licences, and a particular band of radio wave is restricted to be used in a particular technology
Cellular Operators Association of India (COAI) and Association of Unified Telcom Service Providers of India (AUSPI) have opposed the proposal to compensate consumers.
Analysts said with more power sector companies referred to the NCLT by banks, large companies would be at an advantage.
Infosys was the top gainer in the Sensex pack, rising 2.36 per cent, followed by HDFC Bank up 1.39 per cent.
RCom and Aircel will hold 50 per cent each in the new company
In a major reform push, government on Thursday approved 100 per cent foreign direct investment (FDI) in the telecom sector, meeting a key demand of the fund-starved industry.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances