Reliance Communication

Lenders approve Rs 23,000 cr resolution plan for RCom; Chinese banks to get major share

After considering a clawback clause, the resolution plan fetched Rs 23,000 crore, which will go towards paying dues of Chinese banks, who are the largest lenders, they said, adding Chinese banks will receive Rs 5,500 crore and their principal debt would stand reduced to Rs 4,500 crore.

Bharti Airtel submits Rs 9,500cr bids for RCom assets

"Bharti Airtel seems to be the highest bidder with bids of around Rs 9,500 crore. However, the final result will be known on Friday after the committee of creditors (CoC) opens all the bids," the source said.

MSCI rejig: ICICI Lombard included in India index; 14 stocks added to smallcap index

The MSCI quarterly index review changes will take effect from May 29, 2019, said the MSCI release

RCom falls 5 percent after lenders invoke promoters' pledged shares

At 1101 hrs, RCom was quoting Rs 4.35, down 4.81 percent on the BSE.

RCom falls 5% after spectrum deal with Jio comes under DoT scanner

DoT officials opined that airwaves, for which there has been a default in payment, cannot be shared or traded

A timeline of Reliance Communications versus Ericsson case

Reliance Communications on March 18 repaid Ericsson's dues of Rs 462 crore.

SC grants RCom time till December 15 for paying Ericsson

It said that Ericsson can revive its contempt plea against Reliance if the settlement amount is not paid by December 15.

RCom moves Bombay High Court against tribunal's order barring asset sale

The move comes after an arbitration tribunal, in an interim order, restrained RCom from asset sale, transfer, on an appeal by telecom gear maker Ericsson India.

RJio-RCom deal last of the year, but not the least

Until now, barring Jio, almost every other player in the telecom sector has been in talks with other players to join hands

'Morally, what's right has to be done': Anil Ambani on RCom debt resolution plan

Reliance Group Chairman Anil Ambani says the repayment plan was not just about business.

Reliance Communications claims all 31 lenders oppose China bank's insolvency plea

"At a committee of creditors meeting on November 29, a majority of them, both foreign and domestic, aggregating to 31, decided to oppose CDB's insolvency petition against RCom before the National Company Law Tribunal (NCLT)," Reliance Communications claimed in a statement.

4,000 RCom employees set for India return as Ericsson service contract nears end

RCom plans to manage its services internally going forward. The company's staff strength will now be 9,500 with the additional workforce.

RComm-Aircel merger called off but SSTL merger on track: Punit Garg

The endeavour remains to pare the debt by December end but by March 2018, the company would focus to reduce Rs 25,000 core out of the overall debt, said Punit Garg, ED, Reliance Communication.

RCom aims debt reduction up to 60%; expects Rs 11,000 cr inflow through Brookfields deal

The company’s management, in an interview to CNBC-TV18, said that the company had plans to bring down its debt by over 60 percent (Rs 25,000 crore) once the transactions are complete.

Cross-border tensions hit profit booking in midcap index; stocks slip up to 10%

The market is likely to remain volatile amid escalating geopolitical tensions. However, the long-term structural story remains intact and investors should use dips to buy into quality stocks.

ICRA downgrades Reliance Communication credit rating on weak business outlook

ICRA said that it has revises ratings of the company after taking in to account "the persisting pressures on and weakening outlook of the revenue generation and profitability of the Group given the heightened competitive intensity in the industry."

2G service quality of 3 telcos below Trai norms in Dec quarter

Telecom operators Aircel, Reliance Communications and Airtel did not meet regulator TRAI's various quality norms for 2G services in multiple licence areas for the quarter ended December 2016.

Extension of RelJio Prime offer credit negative for other incumbents: Fitch Ratings

The exact number of customers that will remain with Reliance Jio will be known after the Prime extension ends, said Nitin Soni, Director-Asia Pacific TMT at Fitch Ratings.

RComm to slice base prices of 4G,3G,2G packs: Sources

The company plans to cut 4G data price to Rs 49 from Rs 149 for 1 GB data, slash 3G prices to Rs 99 per month for unlimited data and revise 2G prices to Rs 49 per month for unlimited data, say sources.

RCom raises 3G internet rate by 26%,cuts benefits by 60%

The company has increased the cost of 1 GB of 3G internet usage to Rs 156 from Rs 123 it charged earlier. The Rs 123 mobile internet pack on its 3G network will now offer only 400 MB of internet surfing, which is down by about 60 percent.

Rel Comm falls 1.5% on tax woes, Rel MediaWorks up 10%

Reliance Telecom, a subsidiary of Reliance Communication has been slapped an tax order to the tune of Rs 200 crore for the years 2006-2011. Reliance Telecom operates in Gujarat, Madhya Pradesh, West Bengal, Himachal Prasdes, Odisha, Bihar, Assam and the north east of India.