Meanwhile, the BSE Sensex was up 43.32 points, or 0.22%, to 19,618.96.
On BSE, 55.23 lakh shares were traded in the counter as against an average daily volume of 48.96 lakh shares in the past one quarter.
The stock had risen as much as 2.41% to hit a record high of Rs 112.80 in early trade today, 6 May 2013. However, the stock sharply pared gains as profit booking emerged at higher levels.
The stock hit a low of Rs 109.20 so far during the day. The stock had hit a record low of Rs 46.60 on 30 August 2012.
The stock had outperformed the market over the past one month till 3 May 2013, rising 70.78% compared with the Sensex's 4.12% rise. The scrip had also outperformed the market in past one quarter, gaining 35.57% as against Sensex's 1.04% fall.
The large-cap company has an equity capital of Rs 1032.01 crore. Face value per share is Rs 5.
According to reports, Reliance Communications (RCom) increased voice call prices on some of its plans by about 20% and cut promotional offers and discounts on some others by up to 65%.
According to the new price revision, people enjoying lower tariffs through bulk packs will now have to pay a higher price, reports added.
Shares of RCom are in demand since last month after the company announced its deal with Mukesh Ambani-controlled Reliance Jio Infocomm. On 2 April 2013, RCom and Reliance Jio Infocomm announced the signing of a definitive agreement for approximately Rs 1200 crore as one time indefeasible right to use (IRU) fees for sharing RCom's nationwide inter-city fiber optic network infrastructure.
Reliance Jio Infocomm will utilize multiple fiber pairs across RCom's 1.2 lakh kilometres inter-city fiber optic network to provide a robust and future proof backbone for rolling out its state-of-the-art 4G services. As per the agreement, RCom will in turn have reciprocal access to optic fiber infrastructure to be built by Reliance Jio Infocomm in the future.
The agreement provides for joint working arrangements to be put in place immediately for upgradation of the optic fiber network, to ensure seamless delivery of next generation services.
This agreement is the first in an intended comprehensive framework of business co-operation between Reliance Jio Infocomm and RCom to provide for optimal utilization of the existing and future infrastructure of both companies on reciprocal basis, including inter alia, inter-city fiber, intra-city fiber, towers and related assets, RCom said in a statement.
On 22 April 2013, RCom announced that Samena Capital in a proposed consortium with certain other global PE funds is at an advanced stage of the process of due diligence and completion of definitive documents in relation to the acquisition of the company's global communications services business unit -- Reliance Globalcom. The intended time line for completion of the transaction is end May 2013. At this point, there can be no certainty that this will lead to a transaction, RCom said. A further announcement will be made in due course, if and when appropriate, the company added.
RCom also said that it has discontinued discussions with Batelco Group for selling its sake in Reliance Globalcom. RCom had earlier said in March 2013 that it was in discussions with Batelco Group with respect to Reliance Globalcom.
RCom's consolidated net profit dropped 43.5% to Rs 105 crore on 1.3% growth in net sales to Rs 4797 crore in Q3 December 2012 over Q3 December 2011. The company will announce its year ended March 2013 results on 10 May 2013.
RCom is the flagship company of the Anil Dhirubhai Ambani-controlled Reliance Group. The company, with a customer base of over 130 million including over 2.5 million individual overseas retail customers, ranks among the Top 4 Telecom companies in the world by number of customers in a single country. RCom corporate clientele includes 35,000 Indian and multinational corporations, and over 800 global, regional and domestic carriers.
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