Is Reliance Communications a good buy?

Is Reliance Communications a good buy?

As on 6th Dec 2021 RCOM Share Price closed @ 2.90 and we RECOMMEND Buy for LONG-TERM with Stoploss of 2.58 & Sell for SHORT-TERM with Stoploss of 3.02 we also expect STOCK to react on Following IMPORTANT LEVELS.

How much does Ambani contribute to Indian GDP?

As India’s largest enterprise, RIL’s contribution to the Indian economy remains unmatched – 6.8 percent of India’s merchandise exports, 75,000 new jobs, Rs 21,044 crore of customs and excise, Rs 85,306 crore of GST and VAT, and Rs 3,213 crore of income tax,” Ambani said.

How much is Reliance Communication debt?

Debt-ridden telecom firm Reliance Communications on Wednesday said the group owes around Rs 26,000 crore to Indian banks and financial institutions. The Indians banks, vendors and other creditors have made claims of around Rs 86,000 crore on the company which is currently going through insolvency proceedings.

Will Jio buy Reliance Communication?

The bankruptcy tribunal has approved billionaire Mukesh Ambani-led Reliance Jio’s plan to acquire younger brother Anil Ambani’s debt-laden Reliance Infratel Ltd, a person privy to the development said.

Who is the owner of Reliance Communication?

Reliance Group
Reliance Communications/Parent organizations
Reliance Communications Limited is the flagship Company of Reliance Anil Dhirubhai Ambani Group, India’s third largest business house with around 1.2 billion subscribers.

Is Reliance Power good for long term investment?

4. Is Reliance Power a good long term investment? Past 10 years financial track record analysis by Moneyworks4me indicates that Reliance Power Ltd is a below average long term investment. However, you need to ensure you buy at a right price to earn good returns.

How much does Tata contribute to GDP?

In addition, Tata companies together create wealth for the nation by contributing ₹47,196 crore (2.24 percent of the total collection in 2017) in taxes to the government of India’s finances (₹21,08,118 crore).

Why did Reliance Communications fail?

It invested heavily to roll out GSM services, eventually ending up with a massive debt. RCom’s involvement in the 2G scam, its inability to reduce its debt due to failed business sales and falling revenue led to its downfall over the next decade.

What went wrong with Reliance Communications?

In February 2019, the company filed for bankruptcy as it was unable to sell assets to repay its debt. It has an estimated debt of ₹50,000 crore against assets worth ₹18,000 crore.

Why Anil Ambani shares are falling?

Anil Ambani’s struggles But his fortunes began to decline in 2011 following corruption charges. In 2011, Reliance Communications faced charges of dubious transactions in 2G spectrum allocation. Following the scam, Reliance Communication’s allocated spectrum was cancelled.

How old is Anil Ambani?

62 years (June 4, 1959)
Anil Ambani/Age

What is the website of Reliance Communications Limited?

www.rcom.co.in. Reliance Communications Limited (popularly, R.Comm) was an Indian mobile network provider headquartered in Navi Mumbai that offered voice and 2G and 3G data services.

What are the key products/revenue segments of Reliance Communications?

Reliance Communications Ltd. key Products/Revenue Segments include Telecommunication Services which contributed Rs 2231.00 Crore to Sales Value (100.00 % of Total Sales)for the year ending 31-Mar-2018.

Where is reliance Comm listed on the stock market?

Reliance Comm is in the Telecommunications – Service sector. It is listed on the BSE with a BSE Code of 532712 and the NSE with an NSE Code of RCOM.

How did SSTL get 10% stake in Reliance Communications?

SSTL received a 10 per cent stake in Reliance Communications after repaying its existing debt. Reliance Communications would assume responsibility for instalments that MTS owed the government for spectrum purchases, amounting to ₹ 392 crore every year for 10 years.