Reliance Communications (RCom), the country’s fourth largest telecom operator, which has been looking to create a 50:50 joint venture with Aircel promoted by Maxis Communications, expects to close out the deal by the end of June.

The new entity, a senior executive observed, should kick off operations with revenues of around Rs 25,000 crore.

Reliance Communications has slipped 2% to quote at Rs 48 on the BSE after the company posted a 22% drop in the March quarter net profit owing to lower revenue from voice and data services.

Meanwhile, the company reported a net profit of Rs 1.77 billion ($26.36 million) for its financial fourth quarter to March 31, as against Rs 2.28 billion in the previous year. The total income from operations declined 1.3% to Rs 56.17 billion.

Telecom stocks such Idea Cellular, Bharti Airtel and Reliance Communications pared their initial losses after the Supreme Court quashed a TRAI order on compensating consumers for call drop.

The apex court said that TRAI recommendation making it mandatory for telecos to compensate subscribers for call drop is arbitrary, unreasonable and non-transparent.

The much-awaited disruption in mobile data pricing has been kicked off by Reliance Communications. The company is offering 10 GB of 4G data bundled with 150 voice minutes for Rs 93 a month. In some states, the company is offering these packs between Rs 75 and Rs 97 per month.

Reliance Communications is in the process of moving its CDMA subscribers to its GSM network by offering voice and 4G data at very attractive prices. The promotional tariffs are being offered to move their CDMA subscribers to the 4G platform, which it is offering in alliance with Jio.

MUMBAI: Shares of Reliance Communications surged nearly 6 per cent today after the Department of Telecom (DoT) approved the spectrum-sharing deal between Reliance Jio Infocomm and RCom.

The stock advanced by 5.46 per cent to settle at Rs 56.95 on BSE. During the day, it soared 7 per cent to Rs 57.80.

The Department of Telecommunications (DoT) on Friday approved spectrum sharing between Reliance Communications and Reliance Jio in nine circles including Mumbai, Himachal Pradesh and Haryana.

This will allow both the firms to offer 4G services on 10 MHz block in 800 Mhz band after the sharing arrangements. The nine circles are Mumbai, UPE, Madhya Pradesh, Haryana, West Bengal, Odisha, Himachal Pradesh, Assam, and the North East, according to a filing on stock exchanges.

Technology giant IBM has partnered Reliance Communications (Rcom) to provide a complete portfolio of cloud services to customers.

"It is working with Reliance Communications to provide its customers with a complete portfolio of highly secure and scalable infrastructure as a service (IaaS) offerings running on the IBM cloud," IBM said in a statement today.

Telecom operator Reliance Communications will upgrade all its CDMA customers to 4G network in a phased manner, starting May 4.

"RCoM has informed DoT that it will be upgrading its network from CDMA to LTE (4G) technology using the liberalised 800 Mhz spectrum. It will roll out LTE services progressively in these service areas from May 4," an official source told PTI.

Reliance Communications (RCom) and the shareholders of Aircel are going to discuss a potential merger exclusively for another two months.

Rcom said on Wednesday it had extended the exclusive period to negotiate a possible merger with Aircel to May 22, 2016. The decision to merger is part of the consolidation witnessed by the industry to derive benefits in opex and capex synergies and revenue enhancement.

Reliance Industries is nearing the completion of its largest ever capital expenditure program of $46 billion by FY17, paving the way for a multi-year cycle of strong free cash flow generation averaging US$5 billion, which will double its market capitalisation to $100 billion (Rs 6.8 trillion), Morgan Stanley has said. The free cash flow implies an over 11% yield and is the highest among large cap global oil & gas peers under its coverage, it said.

Morgan Stanley said its analysis of the stock price's history over the last 15 years suggests that RIL has typically outperformed once it starts generating free cash flow after its capex mode and a similar cycle is now likely to play out. “We chalk out a potential roadmap for the stock to double to reach market cap of US$100 billion (Rs 6.8 trillion),” said the report dated March 1.

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