The debt-laden Reliance Commmunication (RCOM) today announced a deal with China Development Bank (CDB) for availing a loan of Rs.6000 crore ($1.33 billion).
In a disclosure to the stock exchanges RCom stated that the loan of Rs.6000 crore would be used for refinancing the spectrum fees.
An additional credit facility of Rs.2,700 crore ($600 million) has been extended to RCom by CDB for imports and domestic deployment of telecom equipment from Chinese vendors such as Huawei and ZTE.
After witnessing heavy trading of around 34.42 million in the counter, RCom closed 9% higher on NSE.
RCom's closing price on NSE was 99.20 on 09-Mar-2011.
March 9, 2011
March 7, 2011
March 1, 2011
Markets witness biggest rally in 21 months
by Mir Mazhar Hussain
A remarkable post-budget rally on Tuesday (01-March-2011) saw BSE record a steep gain of 623.10 points to close at 18,446.50 and NSE soar by 189.05 points to close at 5522.30.
Auto stocks spurred the rally on the back of stellar monthly sales numbers announced by Tata Motors, Maruti Suzuki India, TVS Motors etc.
Banking and real estate stocks welcomed the news that the government has a lower borrowing target for FY12 which means lower interest rates and higher liquidity.
M&M, Maruti Suzuki and JP Associates which were up by more than 7% were the top 3 gainers on Tuesday (01-March-2011) on both BSE and NSE.
A remarkable post-budget rally on Tuesday (01-March-2011) saw BSE record a steep gain of 623.10 points to close at 18,446.50 and NSE soar by 189.05 points to close at 5522.30.
Auto stocks spurred the rally on the back of stellar monthly sales numbers announced by Tata Motors, Maruti Suzuki India, TVS Motors etc.
Banking and real estate stocks welcomed the news that the government has a lower borrowing target for FY12 which means lower interest rates and higher liquidity.
M&M, Maruti Suzuki and JP Associates which were up by more than 7% were the top 3 gainers on Tuesday (01-March-2011) on both BSE and NSE.
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