Here is a list of top stocks that are likely to be in focus in today's trading session.
Sources say, valuations have already been revised from an earlier Rs 21,500 crore, Brookfield is valuing the portfolio at around Rs 16,500 crore – Rs 19,500 crore.
Doha Bank today said it has tied up with Reliance Group to generate business opportunities in the Gulf Cooperation Council nations and India.
A company spokesperson said it was working with other operators for migration of its customers. A new scheme without any additional costs will be offered to customers, it said.
India's second biggest software company, Infosys will report its quarterly numbers today.
The deal, which is valued at Rs 5,000 crore, would provide RCom with 3.75 MHz of highly valuable spectrum in 850 MHZ band in 9 telecom circles.
Airlines offering in-flight Wi-Fi services are forced to switch off the facility the minute an airplane enters Indian airspace.
The acquisition will provide the company with ownership of modern plants and take its cement production capacity to 15.4 million tonnes per annum.
Until recently, minority shareholders in India rarely clashed with management.
All three have separately bid for assets with offers between Rs 3,000cr - 3,500cr, under which lenders will have to take a haircut of around 70% on the co's total outstanding debt.
RNLAM's IPO seeks to raise up to 15.42 billion rupees ($236.7 million) with the company on Thursday setting a price range of 247-252 rupees per share.
Indian mobile operators have seen revenue plummet and debt soar after launch of Reliance Jio.
Reliance Nippon Life Asset Management Ltd has received the go-ahead from Sebi for its estimated Rs 2,000 crore initial public offer.
The IT company had filed an insolvency petition for a recovery of Rs 8.2 crore from the Anil Ambani owned telco and its two units, few days after Rcom’s deal with Aircel was called off.
Reliance Infrastructure has signed a business transfer agreement for transfer of WRSSS, the company said in a statement.
The scrip touched its fresh 52-week high of Rs 8.60 on July 27, 2017 and its 52-week low of Rs 3.28 on November 18, 2016.
Banks face the prospect of haircuts or `loss on defaults' of up to 50% on Reliance Communications' debt, according to Goldman Sachs.
The telco has mooted alternate plans which include sale of towers, fibre, spectrum, and real estate assets, which could generate over Rs 25,000 crore that could be used to repay lenders.
This is where the world’s top tycoons will be in the upcoming months.
RCom has told Indian media it is holding talks with the Canadian company to now sell all of the tower unit.
Here is a list of top stocks that are likely to be in focus in today's trading session.
Shares of Rcom fell nearly 13% to a record low, amid investor concerns over the Anil Ambani-owned carrier’s to repay debt after the collapse of its merger deal.
"High leverage will limit RCom's ability to buyback spectrum in auctions in 2021. This could drive a sharp drop in its 2G revenue coverage and potentially hit revenue," the brokerage firm said.
Widely known as RCom and controlled by wealthy businessman Anil Ambani, the company is saddled with net debt of about $6.8 billion.
The sale may help the Anil Ambani group repay around 70 per cent of the Rs 20,000-crore debt with the company.
Modi had named nine celebrities, including Ambani, cricketing icon Sachin Tendulkar and film stars Salman Khan and Priyanka Chopra, to take the initiative forward.
With the Reliance Communications-Aircel merger being called off, where does the Anil Ambani-owned telco stand?
The distribution business covers around three million households with annual revenues of around Rs 7,500 crore.
Reliance Communications (Rcom) added four of its senior management to its Board on Monday, a day after it decided to call off its merger with Aircel.
Ambani’s newly created entity Reliance Defence Systems Private Limited has applied for a CII membership and that the process to scrutinize its records is on.
Anil Ambani-led co said it expects to monetisation tower, fibre and real estate assets along with optimisation of spectrum assets to reduce Rs 25,000 crore debt.
Bankers are worried that they may be forced to take the case to the National Company Law Tribunal for bankruptcy proceedings like the other 12 big cases.
Major telcos have already sought larger relief from the govt, which on Friday increased the period to payback the installments to 16 yrs.
Kalanithi Maran-controlled Sun TV Network has accused the Union government of favouritism by pointing that Anil Ambani Group were cleared despite similar charges in the 2G case.
Ambani said although all shareholders were to be respected, Mehta who may have shares of the group firms in single digits filed petitions in Bombay HC on various charges.
First round of talks between Ericsson and RCom have been inconclusive, with the Swedish equipment maker sticking to its stand on dragging the firm through a bankruptcy process if dues not paid.
Reliance Infrastructure is engaging with Japanese companies with the intention of participating in India’s ambitious Rs 1 lakh crore-bullet train project.
The Anil Ambani-led company is setting up this plant by relocating equipment procured for its planned power plant at Samalkot in Andhra Pradesh that was stranded due to lack of gas.
Reliance is among the largest concessionaires of National Highways Authority of India (NHAI) with concession periods ranging from 18-30 years.
Actress Anushka Sharma is also one of the celebrities who has agreed to undertake 'shramdaan'.
Shares of Matrimony.com will be listed on the Bombay Stock Exchange in the list of 'B' Group of securities on Thursday.
Ericsson said it expected Rs 550 crore to be paid upfront because RCom had promised them that amount in different stages of the process but failed to live up to it.
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The firm has missed payments to lenders for the last two and a half months.
"We wish to inform that the company has initiated migration of its customers in Gujarat circle to an all 4G network," the company said.
Ericsson India is seeking a total of Rs 11,55 crore from RCom and its two units.
Reliance Technologies has applied for manufacture of weapons and ammunition; Reliance Propulsion Systems for spacecraft, launch vehicles and satellites.
The DAKC property will be transformed into an “integrated smart complex, with fresh office space, retail and residential facilities in partnership with a co-developer.
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Hong Kong-headquartered CLP has also held discussions with Reliance, said a company official on condition of anonymity, but Greenko is believed to be the front-runner.
The deadline for exclusive negotiations was extended by a month until June 22 and executives are confident of sorting out outstanding issues within the next four weeks.
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The merger could set the ball rolling for a sale of RCom’s stake in its tower unit to Canada’s Brookfield. Together, the deals could reduce its debt by even 60 per cent.
A spokesman for Anil Ambani’s Reliance Group declined to comment when asked about the talks. A Zee Media spokesperson said the news is incorrect, when asked.
Future and Anil Ambani groups are deleveraging themselves substantially, and therein lies a risk element and some of these companies can give good returns
The alliance will be for designing and manufacturing wireless modules and providing IoT solutions to enable secure communications among machines.
Buy Reliance Capital Ltd. at a price target of Rs 711 and a stoploss at Rs 664 from entry point.
These days, the Reliance Group boss spends more than 70% of his working hours on what is seen as a sunrise sector for Indian industry.
The inter-ministerial group has been set up by govt to look into the financial health of the telecom sector, which is dealing with debt of nearly Rs 5 lakh cr.
The board of approval for special economic zones in the ministry of commerce has given its approval to the proposed aerospace park spread across 289 acres at Mihan near Nagpur.
n 2007, there were only 7 groups existing with a marketcap of more than $10 billion.
Kothari, 53, was popularly known as Shyam Kothari among business circles. He breathed his last in Houston in the US where he had gone for treatment.
RCom said that a combination of intense competition, price war and aggressive bidding for airwaves has resulted in rapid deterioration of the industry.
The work station of only one specific Reliance Power employee was searched, and no incriminating material of any kind was found.
Ambani suggested a Sovereign Defence Fund on PPP model, while he also sought infrastructure industry status to aerospace to pave way for easier credit.
Late in 2010, Kela moved to the fund's parent amid various speculations.
The move, if allowed by the government, will also enable the debt-laden company to escape paying the instalments towards the purchase of spectrum that it now wants to surrender.
The mutual fund industry is likely to grow by almost five fold to sniff past Rs 94 trillion by 2025 from the current level of over Rs 20 trillion.
The industry lobby Amfi has pointed out that to achieve this, the industry needs to increase their distributor strength to over 6 lakh from the present 86,000.
The group has set up Reliance Defence and Aerospace as a wholly owned unit of Reliance Infrastructure Ltd, and named Rajesh Dhingra as its head.
The IMG was set up on May 16 to examine issues that are affecting viability and repayment capacity of telecom companies.
Ambani told Devendra Fadnavis he was speaking of a system in which the CM's "team players are protected from the CVC, CBI and CAG."
According to sources, TTSL has sought an extended maturity of 20 yrs for repayments, and a request for a fresh loan of Rs 5,000 cr for its operational & capex needs.
According to sources, the high-level meeting was held to discuss regulatory and policy issues in the sector and expedite the Bharat Net project.
Jio has disrupted the sector with free voice and low data rates, leading to a tariff war that has worsened the financials of the debt-laden industry.
Two companies will work together in the field of ammunition amongst others, with projected minimum requirement of Rs 20,000 crore over next 10 years from Indian armed forces.
At Mumbai Marathon, when the Reliance Group chairman sported different-coloured running shoes, one red, the other blue, on Sunday, it grabbed eyeballs.
IOC, BPCL and HPCL signed an agreement to jointly set up the world’s largest refinery.
Mommy will wipe the billionaires' tears, but with a small, wet handkerchief.
RCom, which has defaulted on its loan servicing obligations with more than 10 local banks, also hopes to complete its deal to merge wireless business with Aircel.
Anil Ambani is understood to have discussed the CAG audit of two power distribution companies of Reliance Infra ordered by previous AAP government.
Tata Sons Chairman N Chandrasekharan is also learnt to have confirmed his participation, while Reliance Jio Chairman Mukesh Ambani is yet to confirm his presence for the meeting called by Sinha.
“In actual fact, the same (pact with lenders) directly addresses their (ratings agencies) key concerns about the short term liquidity situation,” the telco explained.
A bench headed by the Surendranagar District Consumer Disputes' Redressal Forum (DCDRF) President S K Pandya cancelled the bailable warrant yesterday.
After 3.5 years of bull run, D-St participants are taking a more conservative approach.
"Moody's Investors Service has downgraded RCom corporate family rating and senior secured bond rating to Ca from Caa1. The outlook is negative," Moody's said.
Besides TCS, infra major L&T and ICICI Bank were the other two major contributors to the gains.
Ambani is an alumnus of KC College, which is holding its diamond jubilee celebrations.
RCom will also present plans for sustainable long-term servicing of its remaining debt of Rs 20,000 crore.
Andhra Bank and Allahabad Bank have put up for sale nearly Rs 6,000 crore of bad loans
With annual interest payments, loan re-payment obligation, spectrum-related outgo and capex expected to add up to a Rs 1,62,000 crore tab.
The apex electricity tribunal today directed Delhi's power regulator DERC not to take a final decision on revoking their licenses without its permission despite a recommendation by Delhi Chief Minister Arvind Kejriwal in this regard.
The Additional Solicitor Generals who have been given extension for an indefinite period, are Pinky Anand, Maninder Singh, P S Patwalia, Tushar Mehta and P S Narsimha, it said.
Chief Minister Arvind Kejriwal today attacked ADAG chairman Anil Ambani whose group operates two power distribution companies in the city.
The biggest fear for the market now is how efficiently the GST regime gets implemented.
Anil Ambani sought to assuage investor concerns on RCom's financial situation after a delay on some interest payments and a downgrade of debt ratings by several agencies amid a crash in the stock price.
Last Saturday, RCom posted its first ever annual loss since its inception - of Rs 1,285 crore.
The Anil Dhirubhai Ambani Group will enhance its investment in Madhya Pradesh in the next few years taking the total investment to around Rs 50,000 cr.
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