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Posted on:    02 Jan, 2018       Views:  884

Reliance Communications Share Price Rising Up On The New Year

Reliance Communications Share Price Rising Up On The New Year

Investors of companies of Anil Dhirubhai Ambani Group (ADAG) group have received tremendous gift of the new year. We have seen that the shares of Reliance Communications (RCOM) have doubled within a few days. That means the investor's money invested in it has been double. Today, even on the first day of the year, there is tremendous growth in the shares of Anil Ambani's companies.
A few days ago, Reliance Communications had entered into an agreement with Mukesh Ambani's Reliance Jio to sell his wireless business. Reliance Jio Infocom Limited (RJIL) will acquire tower, fiber and MCN business from RCom. This deal is being seen as a big relief for Mukesh Ambani's younger brother Anil Ambani's company RCom.

 

 

RCom is overwhelmed with a heavy burden of about 45,000 crore and has been engaged in efforts to repay it for a long time. Anil Ambani had assured the lenders that the company would repay its entire debt and reduce the debt by 25,000 crores by March 2018. However, Reliance Communications (RCom) was slowing down. The Chairman of SAIL said that we have to organize our internal processes to achieve our goals, to redesign the operation, to improve market policy, to improve financial system and to transform human resources into profits Will happen. The loss of SAIL in 2015-16 was 4,021 crore, while in 2016-17, it was Rs 2,833 crore. In the meanwhile, the Sensex and Nifty close with two hundred Forty four points and ninty five points respectively. BSE today sought explanation from Reliance Naval and Engineering Limited, in terms of price increase. The reply is awaited. 


 

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