With the help of funds from its internal accretions and the foreign exchange proceeds, Reliance Communications intends buying back foreign currency convertible bonds (FCCBs) at a mark down, depending upon the central bank approval.

A tender offer, for repurchasing the bonds for cash at a discount, has been issued by the company to all its bond holders.

In a significant move, country's second largest mobile-phone operator, Reliance Communications (RCom) has decided to repurchased US $ 5 Million (about Rs 25.26 crore) foreign currency convertible bonds (FCCBs) at discount from the international markets.

In a disclosure to the Bombay Stock Exchange, the Mumbai based company, owned by Anil Ambani said that it has bought back 50 zero coupon FCCBs aggregating Rs 25.26 crore.

The filing further added that the repurchased bonds are expected to extinguish on April 15, 2009.

Anil Dhirubhai Ambani Group company Reliance Communications on Monday launched its high-speed wireless broadband services in Kolkata.

The company claims that newly launched service is Country's fastest internet service with a peak downlink speed of upto 3.1 Mbps and an uplink speed of up to 1.8 Mbps. The company will deliver the services on its CDMA platform.

The company has launched multiple subscription plans for its wireless broadband service ranging from a monthly rental of Rs 299 to Rs 1,750. In addition, the company will take Rs 3,500 as one time cost for USB modem separately.

Karvy Stock Broking Limited has maintained ‘buy’ rating on Reliance Petroleum Ltd (RPL) stock with an intraday target of Rs 112.

According to Karvy, interested traders can purchase the stock between Rs 102-103 with a strict stop loss of Rs 98.50. If the stock market remains on positive track, the stock pricing becomes more attractive, and reach above Rs 114.
 
Shares of the company, on Thursday (April 02), closed at Rs 103.60 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 206.45 and a low of Rs 68.10 on BSE.

The customers of the Reliance Mobile GSM Service have a new pack coming their way - the company Thursday launched a 'Jaadu STV 45' tariff voucher, which boasts of a multitude of benefits!

A part of Reliance Mobile's ongoing Customer Experience Programme, the new Rs. 45 recharge pack comes with 90-day validity, and offers talk-time worth Rs. 20. The call charges of the new Jaadu 45 pack, for current and new Reliance GSM subscribers, would be 60 paise per minute for local calls to any network, and Re 1 per minute for STD calls.

The telecommunications company of the Reliance-Anil Dhirubhai Ambani Group – Reliance Communications has rolled out a new recharge voucher – “Jaadu STV 45” – for the prepaid subscribers of its Reliance Mobile GSM Service, in Uttar Pradesh, Uttarakhand, and Karnataka Circle.